Portfolio

Balanced Portfolio.
Defensive Industries.
Well Diversified.

ARCC Portfolio

As of March 31, 2023, Ares Capital Corporation’s (“Ares Capital” or “ARCC”) portfolio had a fair value of approximately $21.1 billion, and consisted of 466 portfolio companies backed by 218 different private equity sponsors. Ares Capital has a diversified portfolio in terms of issuer concentration, asset class, industry sector and geographic representation.

Portfolio Composition

*Snapshot as of March 31, 2023⁽¹⁾

Issuer Concentration Composition

 

Asset Class Composition

 

Industry Composition

 

Geographic Composition

 

(1) At fair value. 

(2) Represents ARCC's portion of its co-investments with Varagon Capital Partners and its clients in first lien senior secured loans to U.S. middle-market companies. As of March 31, 2023, the Senior Direct Lending Program, LLC (the "SDLP") had loans to 22 different borrowers. The portfolio companies in the SDLP are in industries similar to companies in ARCC's portfolio. 

(3) Includes ARCC's investment SDLP, which represented 5.98% of the total investment portfolio at fair value as of March 31, 2023.

(4) Includes ARCC's equity and subordinated loan investments in IHAM, which represented 11% of the total investment potfolio at fair value as of March 31, 2023.

Portfolio of Investments

Investments as of March 31, 2019 Investments as of December 31, 2022
Company/DescriptionRegionSenior Secured Loan*Senior SubordinatedEquity/OtherIndustry
2U, Inc.

Provider of course design and learning management system to educational institutions

Mid AtlanticSoftware & Services
AB Issuer LLC

Provider of professional at home services, residential cleaning and elderly residential care services

Mid AtlanticConsumer Services
Absolute Dental Group LLC and Absolute Dental Equity, LLC

Dental services provider

WestHealth Care Services
Abzena Holdings, Inc. and Astro Group Holdings Ltd.

Organization providing discovery, development and manufacturing services to the pharmaceutical and biotechnology industries

WestPharmaceuticals, Biotechnology & Life Sciences
ACAS Equity Holdings Corporation

Investment company

WestInvestment Funds and Vehicles
Accommodations Plus Technologies LLC and Accommodations Plus Technologies Holdings LLC

Provider of outsourced crew accommodations and logistics management solutions to the airline industry

Mid AtlanticCommercial & Professional Services
Acrisure, LLC and Acrisure Finance , Inc.

Independent property and casualty insurance brokerage

MidwestInsurance Services
ADF Capital, Inc., ADF Restaurant Group, LLC, and ARG Restaurant Holdings, Inc.

Restaurant owner and operator

Mid AtlanticConsumer Services
ADG, LLC and RC IV GEDC Investor LLC

Dental services provider

MidwestHealth Care Services
Advarra Holdings, Inc.

Provider of central institutional review boards over clinical trials

Mid AtlanticHealth Care Services
Aero Operating LLC

Provider of snow removal and melting service for airports and marine terminals

Mid AtlanticCommercial & Professional Services
AffiniPay Midco, LLC and AffiniPay Intermediate Holdings, LLC

Payment processing solution provider

MidwestSoftware & Services
AHR Funding Holdings, Inc. and AHR Parent Holdings, LP

Provider of Revenue Cycle Management solutions to hospitals

SoutheastHealth Care Services
AI Aqua Merger Sub, Inc.

End to end provider of water solutions to a wide range of customer bases

MidwestCapital Goods
AI Fire Buyer, Inc. and AI Fire Parent LLC

Provider of fire safety and life safety services

WestCommercial & Professional Services
AIM Acquisition, LLC

Manufacturer of component repair materials, consumables and engine components for the aerospace sector

MidwestCapital Goods
Aimbridge Acquisition Co., Inc.

Hotel operator

MidwestConsumer Services
Alcami Corporation and ACM Holdings I, LLC

Outsourced drug development services provider

SoutheastPharmaceuticals, Biotechnology & Life Sciences
Alcami Corporation and ACM Note Holdings, LLC

Outsourced drug development services provider

SoutheastPharmaceuticals, Biotechnology & Life Sciences
Alera Group, Inc.

Insurance service provider

MidwestInsurance Services
American Residential Services L.L.C. and Aragorn Parent Holdings LP

Heating, ventilation and air conditioning services provider

SoutheastConsumer Services
American Seafoods Group LLC and American Seafoods Partners LLC

Harvester and processor of seafood

WestFood & Beverage
Amryt Pharmaceuticals, Inc.

Biopharmaceutical company dedicated to acquiring, developing and commercializing novel therapeutics

InternationalPharmaceuticals, Biotechnology & Life Sciences
Amynta Agency Borrower Inc. and Amynta Warranty Borrower Inc.

Insurance service provider

Mid AtlanticInsurance Services
Anaplan, Inc.

Provider of cloud-based connected planning platforms for business analytics

WestSoftware & Services
Anaqua Parent Holdings, Inc. & Astorg VII Co-Invest Anaqua

Provider of intellectual property management lifecycle software

NortheastSoftware & Services
Apex Clean Energy TopCo, LLC

Developer, builder and owner of utility-scale wind and solar power facilities

Mid AtlanticPower Generation
APG Intermediate Holdings Corporation and APG Holdings, LLC

Aircraft performance software provider

WestSoftware & Services
API Commercial Inc., API Military Inc., and API Space Intermediate, Inc.

Provider of military aircraft aftermarket parts and distribution, repair and logistics services

SoutheastCapital Goods
Applied Technical Services, LLC

Provider engineering, testing, and inspection services to various industrial, commercial and consumer customers

SoutheastCommercial & Professional Services
Appriss Health, LLC and Appriss Health Intermediate Holdings, Inc.

Software platform for identification, prevention and management of substance use disorder

SoutheastSoftware & Services
Apptio, Inc.

Provider of cloud-based technology business management solutions

WestSoftware & Services
Aptean, Inc. and Aptean Acquiror Inc.

Provider of CRM, ERP and supply chain software application

SoutheastSoftware & Services
AQ Sage Buyer, LLC

Provider of actuarial consulting and comprehensive wealth management services

WestDiversified Financials
AQ Sunshine, Inc.

Specialized insurance broker

WestInsurance Services
Ardonagh Midco 2 plc and Ardonagh Midco 3 plc

Insurance broker and underwriting servicer

InternationalInsurance Services
ARES 2007-3R

Investment vehicle

InternationalInvestment Funds and Vehicles
Argenbright Holdings V, LLC and Amberstone Security Group Limited

Provider of outsourced security guard services, outsourced facilities management and outsourced aviation services

SoutheastCommercial & Professional Services
Arrowhead Holdco Company and Arrowhead GS Holdings, Inc.

Distributor of non-discretionary, mission-critical aftermarket replacement parts

MidwestCapital Goods
ASP Dream Acquisition Co LLC

Provider of academic intervention and behavioral health services for children

Mid AtlanticEducation
ASP-r-pac Acquisition CO LLC and ASP-r-pac Holdings LP

Manufacturer and supplier of printed packaging and trimmings

Mid AtlanticMaterials
AthenaHealth Group Inc., Minerva Holdco, Inc. and BCPE Co-Invest (A), LP

Revenue cycle management provider to the physician practices and acute care hospitals

NortheastHealth Care Services
Athyrium Buffalo LP

Biotechnology company engaging in the development, manufacture, and commercialization of novel neuromodulators

SoutheastPharmaceuticals, Biotechnology & Life Sciences
ATI Restoration, LLC

Provider of disaster recovery services

WestConsumer Services
Atlas Intermediate III, L.L.C.

Specialty chemicals distributor

Mid AtlanticRetailing and Distribution
Automotive Keys Group, LLC and Automotive Keys Investor, LLC

Provider of replacement wireless keys for automotive market

MidwestAutomobiles & Components
Avalara, Inc.

Provider of cloud-based solutions for transaction tax compliance worldwide

WestSoftware & Services
Aventine Intermediate LLC & Aventine Holdings II LLC

Media and production company

Mid AtlanticMedia & Entertainment
Aventiv Technologies, LLC and Securus Technologies Holdings, Inc.

Provider of inmate telecom solutions to corrections and law enforcement agencies

SoutheastTelecommunication Services
Avetta, LLC

Supply chain risk management SaaS platform for global enterprise clients

WestSoftware & Services
Axiomatic, LLC

Premiere e-sports and video game investment platform

WestMedia & Entertainment
AxiomSL Group, Inc. and Calypso Group, Inc.

Provider of risk data management and regulatory reporting software

WestSoftware & Services
BAART Programs, Inc., MedMark Services, Inc., and Canadian Addiction Treatment Centres LP

Opiod treatment provider

SoutheastHealth Care Services
Badger Sportswear Acquisition, Inc.

Provider of team uniforms and athletic wear

SoutheastConsumer Durables & Apparel
Balrog Acquisition, Inc., Balrog Topco, Inc. and Balrog Parent, L.P.

Manufacturer and distributor of specialty bakery ingredients

WestFood & Staples Retailing
Bambino Group Holdings, LLC

Dental services provider

SoutheastHealth Care Services

*Represents investments in first lien senior secured loans (including "unitranche" loans, which are loans that combine both senior and subordinated debt, generally in a first lien position) and second lien senior secured loans.