Portfolio Highlights

HMS Income Fund’s portfolio is working for you.

Public offering expected to close to new investors on or about September 30, 2017.

HMS Income Fund continues to expand its portfolio of carefully selected investments. As of June 30, 2017, the portfolio was well-diversified with debt investments in 119 companies and equity investments in 40 companies representing 48 business sectors1 in the middle-market and lower-middle market.

Portfolio Highlights

HMS Income Fund has made investments in the following companies:

  • AAC Holding Corp
  • Adams Publishing Group, LLC
  • ADS Tactical, Inc.
  • AFG Capital Group, LLC
  • Ahead, LLC
  • Allflex Holdings III Inc.
  • American Scaffold Holdings, Inc.
  • American Teleconferencing Services, Ltd
  • AmeriTech College Operations, LLC
  • Apex Linen Service, Inc.
  • Arcus Hunting, LLC
  • ATI Investment Sub, Inc.
  • ATX Networks Corp.
  • BarFly Ventures, LLC
  • BBB Tank Services, LLC
  • Berry Aviation, Inc.
  • Bigname Holdings, LLC
  • Binswanger Enterprises, LLC
  • Bluestem Brands, Inc.
  • Boccella Precast Products, LLC
  • Brightwood Capital Fund Investments
  • Brundage-Bone Concrete Pumping, Inc.
  • Buca C, LLC
  • CAI Software, LLC
  • CapFusion Holding, LLC
  • CDHA Management, LLC
  • Cengage Learning, Inc.
  • Cenveo Corporation
  • Charlotte Russe, Inc.
  • Charps, LLC
  • Clad-Rex Steel, LLC
  • Clarius BIGS, LLC
  • Construction Supply Investments, LLC
  • ContextMedia Health, LLC
  • Covenant Surgical Partners, Inc.
  • CST Industries, Inc.
  • Datacom, LLC
  • Digital River, Inc.
  • Digital Room, LLC
  • East West Copolymer & Rubber, LLC
  • ECP-PF Holdings Groups, Inc.
  • EIG Traverse Co-Investment, LP
  • Evergreen Skills Lux S.á r.l. (d/b/a Skillsoft)
  • Flavors Holdings, Inc.
  • Freeport First Lien Loan Fund III, LP
  • Gamber-Johnson Holdings, LLC
  • GRT Rubber Technologies, LLC
  • GST Autoleather, Inc.
  • Guerdon Modular Holdings, Inc.
  • Guitar Center, Inc.
  • Gulf Publishing Investor, LLC
  • Hawk Ridge Systems, LLC
  • HMS-ORIX SLF LLC
  • Hojeij Branded Foods, LLC
  • Hoover Group, Inc.
  • Houghton Mifflin Harcourt Company
  • Hunter Defense Technologies, Inc.
  • HW Temps LLC
  • Hydrofarm Holdings LLC
  • iEnergizer Limited
  • Implus, Footcare LLC
  • Indivior Finance, LLC
  • Industrial Services Acquisitions, LLC
  • Inn of the Mountain Gods Resort and Casino
  • Intertain Group Limited
  • iPayment, Inc.
  • Ipreo Holdings, LLC
  • iQor US Inc.
  • IronGate Energy Services, LLC
  • Jackmont Hospitality, Inc.
  • Jacuzzi Brands Corp.
  • Joerns Healthcare, LLC
  • Kellermeyer Bergensons Services, LLC
  • Keypoint Government Solutions, Inc.
  • LaMi Products, LLC
  • Larchmont Resources, LLC
  • Legendary Pictures Funding, LLC
  • L J Host Merger Sub, Inc.
  • Logix Acquisition Company, LLC
  • LSF9 Atlantis Holdings, LLC
  • Meisler Operating, LLC
  • M.H. Corbin, Inc.
  • MHVC Acquisition Corp
  • Minute Key, Inc.
  • Mystic Logistics, Inc.
  • NBG Acquisition, Inc.
  • New Media Holdings II LLC
  • NNE Issuer, LLC
  • North American Lifting Holdings, Inc.
  • Novitex Acquisition, LLC
  • NTM Acquisition Corp.
  • NuStep, LLC
  • Pardus Oil & Gas, LLC
  • Paris Presents, Inc.
  • Parq Holdings, LP
  • Permian Holdco 2, Inc.
  • Permian Holdings, Inc.
  • Pernix Therapeutics Holdings, Inc.
  • Pike Corporation
  • PPC/Shift, LLC
  • Prowler Acquisition Corporation
  • Redbox Automated Retail, LLC
  • Renaissance Learning, Inc.
  • RGL Reservoir Operations, Inc.
  • RM Bidder, LLC
  • Salient Partners, LP
  • Sigma Electric Manufacturing Corp.
  • SoftTouch Medical Holdings LLC
  • Sorenson Communications, Inc.
  • Strike, LLC
  • Synagro Infrastructure Company, Inc.
  • TE Holdings, LLC
  • Teleguam Holdings, LLC
  • TMC Merger Sub Corp
  • TOMS Shoes, LLC
  • Turning Point Brands, Inc.
  • TVG-I-E CMN Acquisition, LLC
  • UOS, LLC
  • U.S. Telepacific Corp.
  • USJ-IMECO Holding Company, LLC
  • Valley Healthcare Group, LLC
  • VCVH Holding Corp.
  • VIP Cinema Holdings, Inc.
  • Vistar Media, Inc.
  • Volusion, LLC
  • Wellnext, LLC
  • Worley Claims Services, LLC

Target Investments

  • Senior secured loans, second lien loans and mezzanine debt and selected equity investments of private companies with annual revenues between $10 million and $3 billion2
  • Established companies with histories of positive and stable free cash flow that are in industries that are integral to the American economy
  • Firms with experienced and committed management teams
  • Strong franchises with sustainable competitive advantages
  • Industries with positive long-term dynamics

1Information about portfolio holdings and business sector diversification is as of June 30, 2017 and is subject to change.

2Senior secured loans, second lien loans, mezzanine debt and selected equity investments may be risky, and we could lose all or part of our investment. Most loans in which we invest will not be rated, or would be if they were rated by a rating agency, as "below investment grade" quality. Below investment-grade quality securities are commonly known as "junk" and may be considered more speculative with respect to the issuer's capacity to pay interest and repay principal.

For more information, read the prospectus for HMS Income Fund. Copies of the prospectus may be obtained from Hines Securities, Inc., 2800 Post Oak Blvd., Suite 4700, Houston, Texas 77056 or by calling 888.446.3773. You should read the prospectus carefully in order to fully understand the objectives, risks, sales charges, fees and expenses of HMS Income Fund before investing or sending money.

You should be aware that the Fund, the Advisers, the Dealer Manager, Main Street and Hines and their respective officers, directors, employees and affiliates do not undertake to provide impartial investment advice or to give advice in a fiduciary capacity in connection with the Fund’s public offering of, or the purchase of, the Shares. In addition, as described elsewhere in this prospectus, each of the Advisers and the Dealer Manager has a financial interest associated with this offering of the Shares, including prospective fees, expense reimbursements and other payments they anticipate receiving from the Fund in connection purchases of the Shares. This prospectus is not intended as a recommendation to make an investment in the Shares, and investors should consult their financial advisors before making an investment decision.