New Names Join Hilton’s BDC Corporate Bond Index: What Investors Should Know

The Solactive Hilton Capital BDC Corporate Bond TR Index (the “Index”)¹ completed its most recent quarterly rebalance at the end of August, and with it came several new entrants. Each addition expands the reach of the index and reflects the growing importance of business development companies (BDCs) in private credit markets.

For investors, this rebalance shows how larger, well-resourced managers are opening up new ways to participate in middle-market lending—offering both broader deal flow and the confidence that comes from seasoned credit expertise.

Here’s a look at the new names that have joined the Index:

Ares Strategic Income Fund (ASIF)

A non-traded BDC from private credit superplayer Ares Management, the focuses on senior secured loans and middle-market direct lending. The fund targets steady income, benefitting from Ares’ global origination network, longstanding sponsor relationships, and scale.

Barings Private Credit Corporation 

A non-traded BDC managed by MassMutual subsidiary Barings, invests in senior secured debt of private middle-market companies, leveraging Barings’ $300B platform, broad origination channels, and disciplined underwriting.

Goldman Sachs Private Credit Corp.

Managed by Goldman Sachs Asset Management, targets directly originated loans to U.S. middle-market borrowers. It emphasizes senior secured lending and leverages Goldman’s private credit expertise, institutional reach, strong brand name, and disciplined risk management for added origination depth.

Golub Capital Private Credit Fund

Offers exposure to a leading middle-market lender, widely recognized for sponsor-backed unitranche and senior secured loans. Backed by longstanding private equity partnerships, the fund targets income through well-structured senior credit strategies; its inclusion underscores the relevance of sponsor-backed credit strategies in today’s market.

Carlyle Secured Lending Inc.

A publicly traded BDC focused on senior secured loans to U.S. middle-market borrowers. Managed by Carlyle, one of the world’s largest alternative asset managers, it benefits from proprietary deal flow, scale, and deep resources.

Why It Matters

The latest rebalance not only broadens the composition of the Index but also highlights the continued evolution of private credit as a more mainstream asset class. Each new issuer represents a distinct origination platform, underwriting philosophy, and scale advantage, giving investors more diversified ways to access middle-market lending.

For income-oriented investors, the addition of these BDCs underscores two key themes: the growing breadth of vehicles available to tap into private credit markets, and the importance of sponsor expertise and scale in delivering reliable deal flow and disciplined underwriting. Together, these dynamics reinforce the index’s role as a comprehensive benchmark for income strategies in the private credit space.

¹The Solactive Hilton Capital BDC Corporate Bond Index is a rules-based index that seeks to track the total performance of bonds issued by Business Development Companies. Business Development Companies typically invest in small or struggling companies that may have a higher likelihood of defaulting on their loans. Investing in Business Development Companies (BDCs) involves various risks, including interest rate risk, credit risk, and liquidity risk, which can significantly impact returns. Please note an investment in the fund is not a direct investment in a BDC or in one of the issuers identified above.

As a passive fund, the Fund seeks to replicate the performance of its index. However, differences may arise due to fund expenses, trading activity, or index changes. The Fund may also hold securities not in the index or may not always be fully invested in index components. All index information is as of 6/27/25, is sourced from Bloomberg, and may change at any time.

For general informational purposes only. Not personalized investment advice or a recommendation or solicitation to buy or sell any security.

About the Hilton BDC Corporate Bond Index

The Hilton BDC Corporate Bond Index (the “Index”) was created by Hilton Capital Management, LLC, and is owned, calculated, and administered by Solactive AG. It offers focused exposure to fixed-income securities issued by U.S.-registered Business Development Companies (BDCs), seeking to give investors access to higher yields within a regulated, investment-grade structure.

Complete Fund Holdings Found Here: Hilton BDC Corporate Bond ETF

About the Hilton BDC Corporate Bond ETF

The Hilton BDC Corporate Bond ETF (the “Fund”) is an exchange-traded fund (“ETF”) that uses a “passive management” (or indexing) approach to track the performance, before fees and expenses, of the Index.

Important Disclosures:

Before investing you should carefully consider the Fund’s investment objective, risk, charges and expenses. This and other information is in the prospectus. A prospectus or summary prospectus may be obtained by visiting www.hiltonetfs.com or calling 1-833-594-4586. Please read the prospectus carefully before you invest.

Investing involves Risk, including possible loss of principal. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions. There is no guarantee that the Fund’s investment strategy will be successful.

Investors buy and sell ETF shares through a brokerage account or an investment advisor. Like ordinary stocks, brokerage commissions, and/or transaction costs or service fees may apply. Please consult your broker or financial advisor for their fee schedule.

Credit Risk: Debt securities held by the Fund are subject to the risk that an issuer or related party (such as a guarantor or counterparty) may fail to meet its financial obligations. These failures can negatively impact the value of the investment and the Fund’s ability to receive expected income or principal repayments. Fixed Income & Interest Rate Risk: Fixed income respond to economic developments particularly interest rate changes, as well as to changes in an issuer’s credit rating. Fixed Income investments typically decline in value when interest rates rise and increase in value when rates fall. Longer-duration and lower-rated securities are generally more sensitive to these changes. Interest rate movements, including those driven by central bank policy, may also impact the Fund’s income. Index and Tracking Error Risk: As a passive fund, the Fund seeks to replicate the performance of its index. However, differences may arise due to fund expenses, trading activity, or index changes. The Fund may also hold securities not in the index or may not always be fully invested in index components.

Distributor: Foreside Fund Services, LLC ("Foreside"). Hilton Capital Management and Foreside are not affiliated.