Portfolio and Investment Activity
During the quarter, THL Credit formally commenced principal operations and completed its initial public offering on the NASDAQ as well as a private placement to THL Credit Partners BDC Holdings, L.P. raising approximately $195.8 million in aggregate net proceeds. THL Credit invested $22.5 million in two companies during the quarter subsequent to the IPO closing. Coupled with the five investments purchased from THL Credit Opportunities, L.P. in anticipation of the IPO for $62.1 million, the company had approximately $85 million invested across seven portfolio companies at quarter end. These investments, at fair value, include:
As of June 30, 2010, the portfolio (at fair value) was invested 55 percent in subordinated debt, 26 percent in senior secured debt, 15 percent in income-producing equity interests and 4 percent in equity. The weighted average yield of the debt and income producing equity securities in its portfolio at their current cost basis was 17.9 percent. The weighted average yield on its senior secured loans and subordinated debt securities at their current cost basis was 16.6 percent.