Balanced Portfolio.
Defensive Industries.
Well Diversified.

ARCC Portfolio

As of March 31, 2022, Ares Capital Corporation’s (“Ares Capital” or “ARCC”) portfolio had a fair value of approximately $19.5 billion, and consisted of 395 portfolio companies backed by 201 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, 2022⁽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, 2022, the Senior Direct Lending Program, LLC (the "SDLP") had loans to 19 different borrowers. The portfolio companies in the SDLP are in industries similar to companies in ARCC's portfolio. 

(3) Includes ARCC's equity and subordinated loan investments in IHAM

(4) Includes ARCC's investment in the SDLP, which represented 5.0% of the total investment portfolio at fair value as of March 31, 2022.

Portfolio of Investments

Investments as of March 31, 2019 Investments as of March 31, 2022
Company/DescriptionRegionSenior Secured Loan*Senior SubordinatedEquity/OtherIndustry
Capstone Acquisition Holdings, Inc. and Capstone Parent Holdings, LP

Outsourced supply chain solutions provider to operators of distribution centers

SoutheastCommercial & Professional Services
Cardinal Parent, Inc. and Packers Software Intermediate Holdings, Inc.

Provider of software and technology-enabled content and analytical solutions to insurance brokers

MidwestSoftware & Services
CCS-CMGC Holdings, Inc.

Correctional facility healthcare operator

SoutheastHealth Care Services
CDI Holdings III Corp. and CDI Holdings I Corp.

Provider of personal care appliances

NortheastHousehold & Personal Products
Center for Autism and Related Disorders, LLC

Autism treatment and services provider specializing in applied behavior analysis therapy

WestHealth Care Services
Centric Brands LLC and Centric Brands GP LLC

Designer, marketer and distributor of licensed and owned apparel

WestConsumer Durables & Apparel
Chariot Buyer LLC

Provider of smart access solutions across residential and commercial properties

MidwestTechnology Hardware & Equipment
Cheyenne Petroleum Company Limited Partnership, CPC 2001 LLC and Mill Shoals LLC

Private oil exploration and production company

CHG PPC Parent LLC & PPC CHG Blocker LLC

Diversified food products manufacturer

MidwestFood & Beverage
Cipriani USA, Inc. and Cipriani Group Holding S.A.R.L.

Manager and operator of banquet facilities, restaurants, hotels and other leisure properties

Mid AtlanticConsumer Services
CMW Parent LLC (fka Black Arrow, Inc.)

Multiplatform media firm

Mid AtlanticMedia & Entertainment
Cobalt Buyer Sub, Inc., Cobalt Holdings I, LP, and Cobalt Intermediate I, Inc.

Provider of biological products to life science and pharmaceutical companies

Mid AtlanticPharmaceuticals, Biotechnology & Life Sciences
CoLTs 2005-1 Ltd.

Investment vehicle

InternationalInvestment Funds and Vehicles
Commercial Trailer Leasing, Inc.

Trailer leasing company

Mid AtlanticTransportation
Community Brands ParentCo, LLC

Software and payment services provider to non-profit institutions

SoutheastSoftware & Services
Comprehensive EyeCare Partners, LLC

Vision care practice management company

WestHealth Care Services
Concert Golf Partners Holdco LLC

Golf club owner and operator

WestConsumer Services
Consilio Midco Limited and Consilio Investment Holdings, L.P.

Provider of sales software for the interior design industry

InternationalSoftware & Services
Continental Acquisition Holdings, Inc.

Distributor of aftermarket batteries to the electric utility vehicle, automotive, commercial, marine and industrial markets

MidwestAutomobiles & Components
Convera International Holdings Limited and Convera International Financial S.A R.L.

Provider of B2B international payment and FX risk management solutions

WestDiversified Financials
Convey Health Solutions, Inc.

Healthcare workforce management software provider

SoutheastHealth Care Services
CoreLogic, Inc. and T-VIII Celestial Co-Invest LP

Provider of information, insight, analytics, software and other outsourced services primarily to the mortgage, real estate and insurance sectors

WestSoftware & Services
Cority Software Inc., IQS, Inc. and Cority Parent, Inc.

Provider of environmental, health and safety software to track compliance data

InternationalSoftware & Services
Cornerstone OnDemand, Inc. and Sunshine Software Holdings, Inc.

Provider of a cloud-based, SaaS platform for talent management

WestSoftware & Services
Covaris Intermediate 3, LLC & Covaris Parent, LLC

Provider of advanced pre-analytical sample preparation technologies for life and analytical science

NortheastPharmaceuticals, Biotechnology & Life Sciences
Cozzini Bros., Inc. and BH-Sharp Holdings LP

Provider of commercial knife sharpening and cutlery services in the restaurant industry

MidwestCommercial & Professional Services
CREST Exeter Street Solar 2004-1

Investment vehicle

InternationalInvestment Funds and Vehicles
CrossCountry Mortgage, LLC

Mortgage company originating loans in the retail and consumer direct channels

MidwestDiversified Financials
Crown CT Parent Inc., Crown CT HoldCo Inc. and Crown CT Management LLC

Provider of medical devices and services for the treatment of positional plagiocephaly

WestHealth Care Services
CST Buyer Company (d/b/a Intoxalock)

Provider of ignition interlock devices

MidwestConsumer Services
CVP Holdco, Inc. and OMERS Wildcats Investment Holdings LLC

Veterinary hospital operator

Mid AtlanticHealth Care Services
Datix Bidco Limited

Global healthcare software company that provides software solutions for patient safety and risk management

InternationalSoftware & Services
DCert Preferred Holdings, Inc. and Destiny Digital Holdings, L.P.

Provider of internet security tools and solutions

WestSoftware & Services
DecoPac, Inc. and KCAKE Holdings Inc.

Supplier of cake decorating solutions and products to in-store bakeries

MidwestFood & Staples Retailing
Denali Holdco LLC and Denali Apexco LP

Provider of cybersecurity audit and assessment services

SoutheastSoftware & Services
DFC Global Facility Borrower III LLC

Non-bank provider of alternative financial services

Mid AtlanticDiversified Financials
DFS Holding Company, Inc.

Distributor of maintenance, repair, and operations parts, supplies, and equipment to the foodservice industry

MidwestCapital Goods
Diligent Corporation and Diligent Preferred Issuer, Inc.

Provider of secure SaaS solutions for board and leadership team documents

Mid AtlanticSoftware & Services
Display Holding Company, Inc., Saldon Holdings, Inc. and Fastsigns Holdings Inc.

Provider of visual communications solutions

MidwestRetailing and Distribution
Drilling Info Holdings, Inc. and Titan DI Preferred Holdings, Inc.

SaaS based business analytics company focused on oil and gas industry

MidwestSoftware & Services
DRS Holdings III, Inc. and DRS Holdings I, Inc.

Footwear and orthopedic foot-care brand

SoutheastConsumer Durables & Apparel
DS Admiral Bidco, LLC

Tax return software provider for government institutions

SoutheastSoftware & Services
DTI Holdco, Inc. and OPE DTI Holdings, Inc.

Provider of legal process outsourcing and managed services

SoutheastCommercial & Professional Services
Dye & Durham Corporation

Provider of cloud-based software and technology solutions for the legal industry

InternationalSoftware & Services
Dynamic NC Aerospace Holdings, LLC and Dynamic NC Investment Holdings, LP

Provider of aerospace technology and equipment

MidwestCapital Goods
eCapital Finance Corp.

Consolidator of commercial finance businesses

SoutheastDiversified Financials
Eckler Industries, Inc. and Eckler Purchaser LLC

Restoration parts and accessories provider for classic automobiles

SoutheastAutomobiles & Components
Elemica Parent, Inc. & EZ Elemica Holdings, Inc.

SaaS based supply chain management software provider focused on chemical markets

Mid AtlanticSoftware & Services
Elevation Services Parent Holdings, LLC

Elevator service platform

Mid AtlanticCommercial & Professional Services
Emergency Communications Network, LLC

Provider of mission critical emergency mass notification solutions

SoutheastTelecommunication Services
EP Purchaser, LLC and TPG VIII EP Co-Invest II, L.P.

Provider of entertainment workforce and production management solutions

WestSoftware & Services
EP Wealth Advisors, LLC

Wealth management and financial planning firm

WestDiversified Financials
EpiServer Inc. and Episerver Sweden Holdings AB

Provider of web content management and digital commerce solutions

NortheastSoftware & Services
EPS NASS Parent, Inc.

Provider of maintenance and engineering services for electrical infrastructure

MidwestCapital Goods
eResearch Technology, Inc. and Astorg VII Co-Invest ERT

Provider of mission-critical, software-enabled clinical research solutions

InternationalSoftware & Services
ESCP PPG Holdings, LLC

Distributor of new equipment and aftermarket parts to the heavy-duty truck industry

Mid AtlanticCapital Goods

*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.