| COMMITMENTS AND CONTINGENCIES |
COMMITMENTS AND CONTINGENCIES At December 31, 2023, MSC Income Fund had the following outstanding commitments (in thousands):
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| Investments with equity capital commitments that have not yet funded: |
|
Amount |
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| Brightwood Capital Fund III, LP |
|
$ |
216 |
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| Freeport First Lien Loan Fund III LP |
|
8,340 |
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| HPEP 3, L.P. |
|
1,308 |
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| Total Equity Commitments |
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$ |
9,864 |
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| Investments with commitments to fund revolving loans that have not been fully drawn or term loans with additional commitments not yet funded: |
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| CQ fluency, LLC |
|
$ |
4,500 |
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| Mako Steel, LP |
|
4,057 |
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| Power System Solutions |
|
3,989 |
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| Insight Borrower Corporation |
|
3,888 |
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| AB Centers Acquisition Corporation |
|
2,810 |
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| Garyline, LLC |
|
2,626 |
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| SI East, LLC |
|
2,125 |
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| Mini Melts of America, LLC |
|
1,988 |
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| Bluestem Brands, Inc. |
|
1,840 |
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| American Health Staffing Group, Inc. |
|
1,667 |
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| IG Parent Corporation |
|
1,667 |
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| ArborWorks, LLC |
|
1,481 |
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| Infolinks Media Buyco, LLC |
|
1,260 |
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| Burning Glass Intermediate Holding Company, Inc. |
|
1,239 |
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| Bettercloud, Inc. |
|
1,216 |
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| Richardson Sales Solutions |
|
1,061 |
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| HEADLANDS OP-CO LLC |
|
1,000 |
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| IG Investor, LLC |
|
1,000 |
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| NexRev LLC |
|
1,000 |
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| SPAU Holdings, LLC |
|
1,000 |
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| Roof Opco, LLC |
|
972 |
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| Bond Brand Loyalty ULC |
|
900 |
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| Classic H&G Holdco, LLC |
|
860 |
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| Engineering Research & Consulting, LLC |
|
828 |
|
|
|
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|
|
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| VVS Holdco, LLC |
|
800 |
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| Cody Pools, Inc. |
|
786 |
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| Purge Rite, LLC |
|
781 |
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| Acumera, Inc. |
|
768 |
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| NinjaTrader, LLC |
|
750 |
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| Imaging Business Machines, L.L.C. |
|
692 |
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| Centre Technologies Holdings, LLC |
|
600 |
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| Paragon Healthcare, Inc. |
|
571 |
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| Invincible Boat Company, LLC. |
|
561 |
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| AVEX Aviation Holdings, LLC |
|
512 |
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| Evergreen North America Acquisitions, LLC |
|
501 |
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| Wall Street Prep, Inc. |
|
500 |
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| Watterson Brands, LLC |
|
484 |
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| GRT Rubber Technologies LLC |
|
468 |
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| JTI Electrical & Mechanical, LLC |
|
440 |
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| RA Outdoors LLC |
|
438 |
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| Microbe Formulas, LLC |
|
434 |
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| PTL US Bidco, Inc |
|
427 |
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| CaseWorthy, Inc. |
|
400 |
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| Trantech Radiator Topco, LLC |
|
400 |
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| Chamberlin Holding LLC |
|
400 |
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| Johnson Downie Opco, LLC |
|
400 |
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| Channel Partners Intermediateco, LLC |
|
381 |
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| ITA Holdings Group, LLC |
|
366 |
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| Escalent, Inc. |
|
349 |
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| South Coast Terminals Holdings, LLC |
|
343 |
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| Gamber-Johnson Holdings, LLC |
|
300 |
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| Pinnacle TopCo, LLC |
|
285 |
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| Batjer TopCo, LLC |
|
230 |
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| Metalforming Holdings, LLC |
|
205 |
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| Career Team Holdings, LLC |
|
200 |
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| ATS Operating, LLC |
|
200 |
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| Mystic Logistics Holdings, LLC |
|
200 |
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| Orttech Holdings, LLC |
|
200 |
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| Analytical Systems Keco Holdings, LLC |
|
145 |
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| Elgin AcquireCo, LLC |
|
123 |
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| Clad-Rex Steel, LLC |
|
100 |
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| Gulf Publishing Holdings, LLC |
|
100 |
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| AAC Holdings, Inc. |
|
71 |
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| Inspire Aesthetics Management, LLC |
|
43 |
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| Adams Publishing Group, LLC |
|
5 |
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| Interface Security Systems, L.L.C |
|
1 |
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| Total Loan Commitments |
|
$ |
60,934 |
|
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| Total Commitments |
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$ |
70,798 |
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MSC Income Fund will fund its unfunded commitments from the same sources it uses to fund its investment commitments that are funded at the time they are made (which are typically through existing cash and cash equivalents and borrowings under the Credit Facilities). MSC Income Fund follows a process to manage its liquidity and ensure that it has available capital to fund its unfunded commitments as necessary. MSC Income Fund had no unrealized appreciation or depreciation on the outstanding unfunded commitments as of December 31, 2023.
MSC Income Fund may, from time to time, be involved in litigation arising out of its operations in the normal course of business or otherwise. Furthermore, third parties may try to impose liability on MSC Income Fund in connection with the activities of its portfolio companies. While the outcome of any current legal proceedings cannot at this time be predicted with certainty, MSC Income Fund does not expect any current matters will materially affect its financial condition or results of operations; however, there can be no assurance whether any pending legal proceedings will have a material adverse effect on MSC Income Fund’s financial condition or results of operations in any future reporting period.
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