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Sixth Street Specialty Lending Inc. (TSLX+1.91%) has filed its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports total investments at fair value of $3,518.4 million, with 93.9% in first-lien debt investments, 0.6% in second-lien debt investments, 1.1% in mezzanine debt investments, 4.4% in equity and other investments, and less than 0.1% in structured credit investments.
The company reported total investment income of $482.5 million for the year, an increase from $438.1 million in the previous year. This was driven by higher interest income from investments and increased paid-in-kind interest income.
Net expenses for the year were $258.5 million, up from $239.3 million in the previous year, primarily due to increased interest expenses and management fees.
Net investment income before income taxes was $224.0 million, compared to $198.8 million in the prior year.
The company reported net realized gains of $8.6 million and a net change in unrealized losses of $42.0 million, resulting in a net decrease in net assets from operations of $186.6 million.
Sixth Street Specialty Lending's portfolio consisted of 116 portfolio companies with an average investment size of approximately $30.3 million based on fair value.
The company maintains a diverse portfolio across 21 industries, with the largest industry being Internet Services, representing 16.4% of the total portfolio based on fair value.
The company had $1,954.1 million in total debt as of December 31, 2024, with an annualized interest cost of 7.5%.
Sixth Street Specialty Lending continues to focus on direct origination of loans to middle-market companies, aiming to generate current income through senior secured loans and other investments.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Sixth Street Specialty Lending Inc. annual 10-K report dated February 13, 2025. To report an error, please email earnings@qz.com.