Quarterly report pursuant to Section 13 or 15(d)


3 Months Ended
Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
At March 31, 2024, Main Street had the following outstanding commitments (in thousands):
Investments with equity capital commitments that have not yet funded: Amount
Brightwood Capital Fund Investments
Brightwood Capital Fund V, LP $ 3,000 
Brightwood Capital Fund III, LP 65 
EnCap Equity - Fund XII, LP 7,310 
Freeport Fund Investments
Freeport First Lien Loan Fund III LP 8,340 
Freeport Financial SBIC Fund LP 4,490 
Harris Preston Fund Investments
HPEP 4, L.P. 8,378 
HPEP 3, L.P. 1,308 
HPEP 423 COR, LP 600 
2717 MH, L.P. 52 
MS Private Loan Fund I, LP 750 
MS Private Loan Fund II, LP 7,632 
UnionRock Energy Fund Investments
UnionRock Energy Fund III, LP 7,500 
UnionRock Energy Fund II, LP 1,465 
     Total Equity Commitments (1)(2) $ 50,890 
Investments with commitments to fund revolving loans that have not been fully drawn or term loans with additional commitments not yet funded:
MS Private Loan Fund II, LP $ 22,000 
Computer Data Source, LLC 10,000 
Garyline, LLC 8,118 
MS Private Loan Fund I, LP 8,000 
CQ fluency, LLC 6,750 
Insight Borrower Corporation 6,688 
PTL US Bidco, Inc 6,520 
SI East, LLC 6,375 
California Splendor Holdings LLC 6,000 
BP Loenbro Holdings Inc. 5,994 
Veregy Consolidated, Inc. 5,875 
Richardson Sales Solutions 5,470 
Gulf Manufacturing, LLC 5,000 
Channel Partners Intermediateco, LLC 4,557 
South Coast Terminals Holdings, LLC 4,465 
Classic H&G Holdco, LLC 4,240 
Cody Pools, Inc. 4,214 
Bettercloud, Inc. 4,189 
IG Investor, LLC 4,000 
AB Centers Acquisition Corporation 3,910 
AVEX Aviation Holdings, LLC 3,684 
Mako Steel, LP 3,651 
Microbe Formulas, LLC 3,601 
Johnson Downie Opco, LLC 3,600 
Titan Meter Midco Corp. 3,598 
VVS Holdco, LLC 3,200 
Watterson Brands, LLC 3,175 
Power System Solutions 3,085 
Metalforming Holdings, LLC 2,795 
Career Team Holdings, LLC 2,700 
IG Parent Corporation 2,500 
Nebraska Vet AcquireCo, LLC 2,500 
Superior Rigging & Erecting Co. 2,500 
NexRev LLC 2,400 
Centre Technologies Holdings, LLC 2,400 
Burning Glass Intermediate Holding Company, Inc. 2,397 
Evergreen North America Acquisitions, LLC 2,317 
SPAU Holdings, LLC 2,235 
Engineering Research & Consulting, LLC 2,064 
Cybermedia Technologies, LLC 2,000 
Purge Rite, LLC 1,969 
Elgin AcquireCo, LLC 1,877 
Imaging Business Machines, L.L.C. 1,779 
NinjaTrader, LLC 1,750 
Acousti Engineering Company of Florida 1,730 
Batjer TopCo, LLC 1,620 
Trantech Radiator Topco, LLC 1,600 
Chamberlin Holding LLC 1,600 
Acumera, Inc. 1,598 
Winter Services LLC 1,556 
Mini Melts of America, LLC 1,505 
Bluestem Brands, Inc. 1,447 
ATS Operating, LLC 1,440 
Bond Brand Loyalty ULC 1,427 
Pinnacle TopCo, LLC 1,380 
American Health Staffing Group, Inc. 1,333 
Escalent, Inc. 1,326 
CaseWorthy, Inc. 1,230 
Gamber-Johnson Holdings, LLC 1,200 
Clad-Rex Steel, LLC 1,200 
JTI Electrical & Mechanical, LLC 1,074 
ArborWorks, LLC 997 
Invincible Boat Company, LLC. 976 
GRT Rubber Technologies LLC 950 
GS HVAM Intermediate, LLC 909 
Orttech Holdings, LLC 800 
Mystic Logistics Holdings, LLC 800 
Roof Opco, LLC 778 
Project BarFly, LLC 760 
RTIC Subsidiary Holdings, LLC 753 
Jackmont Hospitality, Inc. 710 
ITA Holdings Group, LLC 640 
Analytical Systems Keco Holdings, LLC 580 
Jensen Jewelers of Idaho, LLC 500 
Wall Street Prep, Inc. 400 
Gulf Publishing Holdings, LLC 400 
Eastern Wholesale Fence LLC 372 
AAC Holdings, Inc. 200 
Inspire Aesthetics Management, LLC 50 
Adams Publishing Group, LLC 22 
Interface Security Systems, L.L.C
      Total Loan Commitments $ 237,148 
      Total Commitments $ 288,038 
(1)This table excludes commitments related to six additional Other Portfolio investments for which the investment period has expired and remaining commitments may only be drawn to pay fund expenses. The Company does not expect any material future capital to be called on its commitment to these investments and as a result has excluded those commitments from this table.
(2)This table excludes commitments related to three additional Other Portfolio investments for which the investment period has expired and remaining commitments may only be drawn to pay fund expenses or for follow on investments in existing portfolio companies. The Company does not expect any material future capital to be called on its commitment to these investments to pay fund expenses, and based on representations from the fund manager, the Company does not expect any further capital will be called on its commitment for follow on investments. As a result, the Company has excluded those commitments from this table.
Main Street 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). Main Street follows a process to manage its liquidity and ensure that it has available capital to fund its unfunded commitments as necessary. The Company had no unrealized appreciation or depreciation on the outstanding unfunded commitments as of March 31, 2024.
Main Street 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 Main Street 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, Main Street 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 Main Street’s financial condition or results of operations in any future reporting period.