Balanced Portfolio.
Defensive Industries.
Well Diversified.

ARCC Portfolio

As of March 31, 2020, Ares Capital Corporation’s (“Ares Capital” or “ARCC”) portfolio had a fair value of approximately $15.8 billion, and consisted of 355 portfolio companies backed by 167 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, 2020⁽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, 2020, 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 in the SDLP, which represented 6% of the total investment portfolio at fair value as of March 31, 2020.

Portfolio of Investments

Investments as of March 31, 2019 Investments as of March 31, 2020
Company/DescriptionRegionSenior Secured Loan*Senior SubordinatedEquity/OtherIndustry
FM: Systems Group LLC

Provider of facilities and space management software solutions

SoutheastSoftware & Services
Foundation Risk Partners, Corp.

Full service independent insurance agency

Frontline Technologies Group Holding LLC, Frontline Technologies Blocker Buyer, Inc., Frontline Technologies Holdings, LLC and Frontline Technologies Parent, LLC

Mid AtlanticSoftware & Services
FS Squared Holding Corp. and FS Squared, LLC

Provider of on-site vending and micro market solutions

SoutheastFood & Staples Retailing
FWR Holding Corporation

Restaurant owner, operator, and franchisor

SoutheastConsumer Services
Garden Fresh Restaurant Corp. and GFRC Holdings LLC

Restaurant owner and operator

WestConsumer Services
GB Auto Service Holdings, LLC

Automotive parts and repair services retailer

WestAutomobiles & Components
Gehl Foods, LLC and GF Parent LLC

Producer of low-acid, aseptic food and beverage products

MidwestFood, Beverage & Tobacco
Genesis Acquisition Co. and Genesis Holding Co.

Child care management software and services provider

WestSoftware & Services
Genomatica, Inc.

Developer of a biotechnology platform for the production of chemical products

GHX Ultimate Parent Corporation, Commerce Parent, Inc. and Commerce Topco, LLC

On-demand supply chain automation solutions provider to the healthcare industry

WestHealth Care Services
Global Merchant Financial Group Corp.

Consolidator of commercial finance businesses

SoutheastDiversified Financials
Gordian Group, LLC

Provider of products, services and software to organizations pursuing efficient and effective procurement and information solutions

Mid AtlanticCommercial & Professional Services
GPM Investments, LLC

Convenience store operator

Mid AtlanticRetailing & Distribution
Graphpad Software, LLC

Provider of data analysis, statistics, and visualization software solutions for scientific research applications

WestSoftware & Services
Green Energy Partners, Stonewall LLC and Panda Stonewall Intermediate Holdings II LLC

Gas turbine power generation facilities operator

Mid AtlanticPower Generation
Green Street Parent, LLC and Green Street Intermediate Holdings, LLC

Provider of REIT research data and analytics

WestDiversified Financials
Greenphire, Inc. and RMCF III CIV XXIX, L.P

Software provider for clinical trial management

Mid AtlanticSoftware & Services
GTCR-Ultra Holdings III, LLC and GTCR-Ultra Holdings LLC

Provider of payment processing and merchant acquiring solutions

Mid AtlanticSoftware & Services
H-Food Holdings, LLC and Matterhorn Parent, LLC

Food contract manufacturer

HAI Acquisition Corporation and Aloha Topco, LLC

Professional employer organization offering human resources, compliance and risk management services

WestCommercial & Professional Services
Halex Holdings, Inc.

Manufacturer of flooring installation products

Harvey Tool Company, LLC

Manufacturer of cutting tools used in the metalworking industry

NortheastCapital Goods
HCI Equity, LLC

Investment company

InternationalInvestment Funds and Vehicles
Heelstone Energy Holdings, LLC and Heelstone Renewable Energy, LLC

Provider of cloud based IT solutions, infrastructure and services

SoutheastPower Generation
Heelstone Renewable Energy, LLC

Provider of cloud based IT solutions, infrastructure and services

SoutheastPower Generation
Help/Systems Holdings, Inc.

Provider of IT operations management and cybersecurity software

MidwestSoftware & Services
Hometown Food Company

Food distributor

MidwestFood, Beverage & Tobacco
Huskies Parent, Inc.

Insurance software provider

NortheastSoftware & Services
Hygiena Borrower LLC

Adenosine triphosphate testing technology provider

WestHealth Care Services
IfByPhone Inc.

Voice-based marketing automation software provider

MidwestSoftware & Services
Imaging Business Machines, L.L.C. and Scanner Holdings Corporation

Provider of high-speed intelligent document scanning hardware and software

SoutheastCapital Goods
IMIA Holdings, Inc.

Marine preservation maintenance company

SoutheastCommercial & Professional Services
Implus Footcare, LLC

Provider of footwear and other accessories

SoutheastConsumer Durables & Apparel
Infilaw Holding, LLC

Operator of for-profit law schools

Infinite Electronics International, Inc.

Manufacturer and distributor of radio frequency and microwave electronic components

WestTechnology Hardware & Equipment
Infogix, Inc. and Infogix Parent Corporation

Enterprise data analytics and integrity software solutions provider

MidwestSoftware & Services
Inmar, Inc.

Technology-driven solutions provider for retailers, wholesalers and manufacturers

SoutheastSoftware & Services
Instituto de Banca y Comercio, Inc. & Leeds IV Advisors, Inc.

Private school operator

InterVision Systems, LLC and InterVision Holdings, LLC

Solar power generation facility developer and operator

WestSoftware & Services
IntraPac International LLC and IntraPac Canada Corporation

Manufacturer of diversified packaging solutions and plastic injection molded products

Invoice Cloud, Inc.

Provider of electronic payment processing solutions

NortheastSoftware & Services
IRI Holdings, Inc., IRI Group Holdings, Inc. and IRI Parent, L.P.

Market research company focused on the consumer packaged goods industry

MidwestCommercial & Professional Services
Ivy Hill Asset Management, L.P.

Asset management services

WestDiversified Financials
Javlin Three LLC, Javlin Four LLC, and Javlin Five LLC

Asset-backed financial services company

MidwestDiversified Financials
JDC Healthcare Management, LLC

Dental services provider

MidwestHealth Care Services
Jenny C Acquisition, Inc.

Health club franchisor

WestConsumer Services
Jim N Nicks Management, LLC

Restaurant owner and operator

SoutheastConsumer Services
Joule Unlimited Technologies, Inc. and Stichting Joule Global Foundation

Renewable fuel and chemical production developer

Joyce Lane Capital LLC and Joyce Lane Financing SPV LLC (fka Ciena Capital LLC)

Specialty finance company

Mid AtlanticDiversified Financials
JWC/KI Holdings, LLC

Foodservice sales and marketing agency

Mid AtlanticFood & Staples Retailing
K2 Insurance Services, LLC and K2 Holdco LP

Specialty insurance and managing general agency

Kaufman, Hall & Associates, LLC

Provider of specialty advisory services and software solutions to the healthcare market

MidwestCommercial & Professional Services
KBHS Acquisition, LLC (d/b/a Alita Care, LLC)

Provider of behavioral health services

Mid AtlanticHealth Care Services
KC Culinarte Intermediate, LLC

Manufacturer of fresh refrigerated and frozen food products

NortheastFood, Beverage & Tobacco
Kellermeyer Bergensons Services, LLC

Provider of janitorial and facilities management services

WestCommercial & Professional Services

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