Golub Capital BDC, Inc., a business development company, announced that it originated $203.1 million in new middle-market investment commitments during the three months ended December 31, 2018. Approximately 77% of the new middle-market investment commitments were one stop loans, 20% were senior secured loans and approximately 3% were subordinated debt and equity securities. Of the new middle-market investment commitments, $193.3 million funded at close. During the three months ended December 31, 2018, Golub Capital BDC, Inc. had a net return of capital of $2.3 million from Senior Loan Fund LLC, an unconsolidated Delaware limited liability company ("SLF"), that invests in senior secured loans and is co-managed by Golub Capital BDC, Inc. and RGA Reinsurance Company.
Total investments at fair value are estimated to have increased by approximately 7.6%, or $135.6 million, during the three months ended December 31, 2018 after factoring in debt repayments, sales of securities, net fundings on revolvers and net change in unrealized gains (losses). Total investments at fair value held by SLF are estimated to have decreased by approximately 2.6%, or $4.7 million, during the three months ended December 31, 2018 after factoring in debt repayments, sales of securities, net fundings on revolvers and net change in unrealized gains (losses).