Sixth Street Specialty Lending, Inc. Commitments Disclosure
8. Commitments and Contingencies
Portfolio Company Commitments
From time to time, the Company may enter into commitments to fund investments; such commitments are incorporated into the Company’s assessment of its liquidity position. The Company’s senior secured revolving loan commitments are generally available on a borrower’s demand and may remain outstanding until the maturity date of the applicable loan. The Company’s senior secured delayed draw term loan commitments are generally available on a borrower’s demand and, once drawn, generally have the same remaining term as the associated loan agreement. Undrawn senior secured delayed draw term loan commitments generally have a shorter availability period than the term of the associated loan agreement.
As of December 31, 2025 and December 31, 2024, the Company had the following commitments to fund investments in current portfolio companies:
|
|
December 31, 2025 |
|
|
December 31, 2024 |
|
||
Alaska Bidco Oy - Delayed Draw & Revolver |
|
$ |
246 |
|
|
$ |
217 |
|
Aledade, Inc. - Revolver |
|
|
24,136 |
|
|
|
|
|
Alpha Midco, Inc. - Delayed Draw & Revolver |
|
|
— |
|
|
|
452 |
|
American Achievement, Corp. - Revolver |
|
|
2,403 |
|
|
|
2,403 |
|
Apellis Pharmaceuticals, Inc. - Delayed Draw |
|
|
— |
|
|
|
5,263 |
|
Aptean, Inc. - Delayed Draw & Revolver |
|
|
— |
|
|
|
1,126 |
|
Arcwood Environmental, Inc. - Delayed Draw & Revolver |
|
|
1,815 |
|
|
|
2,521 |
|
Arrow Buyer, Inc. - Delayed Draw |
|
|
— |
|
|
|
5,479 |
|
Arrowhead Pharmaceuticals, Inc. - Delayed Draw |
|
|
27,643 |
|
|
|
31,961 |
|
Artisan Bidco, Inc. - Revolver |
|
|
1,429 |
|
|
|
5,717 |
|
Avalara, Inc. - Revolver |
|
|
— |
|
|
|
3,864 |
|
AVSC Holding Corp. - Revolver |
|
|
4,833 |
|
|
|
4,833 |
|
Axonify, Inc. - Delayed Draw |
|
|
— |
|
|
|
694 |
|
Azurite Intermediate Holdings, Inc. - Revolver & Equity |
|
|
5,575 |
|
|
|
5,575 |
|
Babylon Finco Limited - Delayed Draw |
|
|
— |
|
|
|
287 |
|
Banyan Software Holdings, LLC - Delayed Draw |
|
|
— |
|
|
|
3,898 |
|
Bayshore Intermediate #2, L.P. - Revolver |
|
|
2,734 |
|
|
|
3,635 |
|
BCTO Ace Purchaser, Inc. - Delayed Draw & Revolver |
|
|
324 |
|
|
|
324 |
|
BCTO Bluebill Buyer, Inc. - Delayed Draw |
|
|
— |
|
|
|
4,144 |
|
Ben Nevis Midco Limited - Delayed Draw |
|
|
— |
|
|
|
1,365 |
|
BlueSnap, Inc. - Delayed Draw & Revolver |
|
|
— |
|
|
|
5,069 |
|
BTRS Holdings, Inc. - Delayed Draw & Revolver |
|
|
— |
|
|
|
3,029 |
|
Cirrus (Bidco) Ltd - Delayed Draw |
|
|
448 |
|
|
|
417 |
|
Cordance Operations, LLC - Delayed Draw & Revolver |
|
|
2,594 |
|
|
|
6,719 |
|
Coupa Holdings, LLC - Delayed Draw & Revolver |
|
|
6,809 |
|
|
|
6,809 |
|
Crewline Buyer, Inc. - Revolver & Equity |
|
|
6,148 |
|
|
|
6,148 |
|
Disco Parent, Inc. - Revolver |
|
|
— |
|
|
|
455 |
|
EDB Parent, LLC - Delayed Draw |
|
|
5,603 |
|
|
|
5,127 |
|
Elysian Finco Ltd. - Delayed Draw & Revolver |
|
|
764 |
|
|
|
1,881 |
|
Elysium BidCo Limited - Revolver |
|
|
— |
|
|
|
2,493 |
|
Employment Hero Holdings Pty Ltd. - Delayed Draw & Revolver |
|
|
— |
|
|
|
1,857 |
|
EMS Linq, Inc. - Revolver |
|
|
5,868 |
|
|
|
4,568 |
|
Erling Lux Bidco SARL - Delayed Draw & Revolver |
|
|
6,134 |
|
|
|
2,772 |
|
Eventus Buyer, LLC - Delayed Draw & Revolver |
|
|
8,633 |
|
|
|
10,033 |
|
ExtraHop Networks, Inc. - Delayed Draw & Revolver |
|
|
446 |
|
|
|
3,384 |
|
Flight Intermediate HoldCo, Inc. - Delayed Draw |
|
|
32,131 |
|
|
|
37,860 |
|
ForeScout Technologies, Inc. - Delayed Draw & Revolver |
|
|
— |
|
|
|
800 |
|
Fullsteam Operations, LLC - Delayed Draw & Revolver |
|
|
— |
|
|
|
8,885 |
|
Galileo Parent, Inc. - Revolver |
|
|
3,462 |
|
|
|
5,481 |
|
Greenshoot Bidco B.V. - Revolver |
|
|
461 |
|
|
|
407 |
|
Hippo XPA Bidco AB - Delayed Draw & Revolver |
|
|
9,407 |
|
|
|
1,697 |
|
HireVue, Inc. - Revolver |
|
|
— |
|
|
|
2,509 |
|
HMP Omnimedia, LLC - Delayed Draw & Revolver |
|
|
9,818 |
|
|
|
|
|
Ingenovis Health Finance, LLC - Revolver |
|
|
32,500 |
|
|
|
|
|
IRGSE Holding Corp. - Revolver |
|
|
5,707 |
|
|
|
528 |
|
Kahua, Inc. - Delayed Draw |
|
|
5,000 |
|
|
|
|
|
Kangaroo Bidco AS - Delayed Draw |
|
|
4,375 |
|
|
|
4,375 |
|
Kaseware Intermediate Holding Company - Delayed Draw & Revolver |
|
|
6,749 |
|
|
|
|
|
Kryptona BidCo US, LLC - Revolver |
|
|
2,165 |
|
|
|
2,165 |
|
LeanTaaS Holdings, Inc. - Delayed Draw |
|
|
12,015 |
|
|
|
18,844 |
|
LIHA Holdco B.V. - Delayed Draw & Revolver |
|
|
753 |
|
|
|
993 |
|
Lynx BidCo - Delayed Draw & Revolver |
|
|
6,733 |
|
|
|
891 |
|
Marcura Equities LTD - Delayed Draw & Revolver |
|
|
1,667 |
|
|
|
9,133 |
|
Merit Software Finance Holdings, LLC - Delayed Draw & Revolver |
|
|
— |
|
|
|
11,786 |
|
Omnigo Software, LLC - Delayed Draw & Revolver |
|
|
1,875 |
|
|
|
|
|
PDI TA Holdings, Inc. - Delayed Draw & Revolver |
|
|
437 |
|
|
|
3,286 |
|
PrimePay Intermediate, LLC - Delayed Draw |
|
|
— |
|
|
|
4,000 |
|
PrimeRevenue, Inc. - Revolver |
|
|
— |
|
|
|
6,250 |
|
QSR Acquisition Co. - Delayed Draw |
|
|
— |
|
|
|
15,000 |
|
Rail Acquisitions LLC - Delayed Draw & Revolver |
|
|
5,660 |
|
|
|
|
|
RainFocus, LLC - Delayed Draw |
|
|
5,322 |
|
|
|
|
|
Rapid Data GmbH Unternehmensberatung - Delayed Draw & Revolver |
|
|
1,231 |
|
|
|
1,425 |
|
Raptor US Buyer II Corp. - Revolver |
|
|
600 |
|
|
|
682 |
|
Sapphire Software Buyer, Inc. - Revolver |
|
|
3,243 |
|
|
|
3,243 |
|
Scorpio Bidco - Delayed Draw |
|
|
575 |
|
|
|
506 |
|
Sediver S.p.A. - Delayed Draw |
|
|
4,113 |
|
|
|
3,627 |
|
Severin Acquisition, LLC - Delayed Draw & Revolver |
|
|
4,380 |
|
|
|
5,039 |
|
Shiftmove GmbH - Delayed Draw |
|
|
10,174 |
|
|
|
13,591 |
|
SkyLark UK DebtCo Limited - Delayed Draw |
|
|
— |
|
|
|
6,946 |
|
SL Buyer Corp. - Delayed Draw |
|
|
— |
|
|
|
11,234 |
|
SMA Technologies Holdings, LLC - Revolver |
|
|
1,009 |
|
|
|
1,009 |
|
Sport Alliance GmbH - Revolver |
|
|
489 |
|
|
|
647 |
|
Tango Management Consulting, LLC - Delayed Draw & Revolver |
|
|
23,799 |
|
|
|
1,479 |
|
TRP Assets, LLC - Delayed Draw |
|
|
10,166 |
|
|
|
10,166 |
|
Truck-Lite Co., LLC - Delayed Draw & Revolver |
|
|
— |
|
|
|
8,743 |
|
TS Imagine Inc. - Revolver |
|
|
768 |
|
|
|
768 |
|
USA Debusk LLC - Delayed Draw & Revolver |
|
|
2,519 |
|
|
|
2,809 |
|
Varinem German Bidco GmbH - Delayed Draw |
|
|
4,917 |
|
|
|
3,553 |
|
Velocity Clinical Research, Inc. - Delayed Draw & Revolver |
|
|
8,814 |
|
|
|
|
|
Wrangler Topco, LLC - Delayed Draw & Revolver |
|
|
888 |
|
|
|
1,433 |
|
Total Portfolio Company Commitments (1)(2) |
|
$ |
338,507 |
|
|
$ |
356,309 |
|
Other Commitments and Contingencies
As of December 31, 2025 and December 31, 2024, the Company did not have any unfunded commitments to fund investments to new borrowers that were not current portfolio companies as of such date.
From time to time, the Company may become a party to certain legal proceedings incidental to the normal course of its business. As of December 31, 2025 and December 31, 2024, management is not aware of any material pending or threatened litigation that would require accounting recognition or financial statement disclosure.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 12, 2026 | Showing above |
| 2024 | Feb 13, 2025 | |
| 2023 | Feb 15, 2024 | |
| 2022 | Feb 16, 2023 | |
About Commitments Disclosures
Commitments and contingencies disclosures catalog a company's off-balance-sheet obligations and legal exposures — purchase commitments, guarantee arrangements, pending litigation, and regulatory proceedings. These items represent potential future cash outflows that may not appear as liabilities on the balance sheet until they become probable and estimable.
Key signals: litigation reserves and disclosed loss ranges quantify management's estimate of legal exposure, but unquantified "reasonably possible" losses often represent the larger risk. Watch for changes in language around pending cases — shifts from "remote" to "reasonably possible" or increases in estimated loss ranges signal deteriorating outcomes. Unconditional purchase obligations and take-or-pay contracts create fixed cost structures that reduce operational flexibility. Guarantee arrangements for subsidiaries or joint ventures can create cascading obligations. Compare the total commitment schedule against projected free cash flow to assess whether the company can meet its obligations without additional financing.