St. Cloud invested in Eastern Mountain Sports, Inc. (“EMS”) in a combination of senior subordinated promissory notes, warrants and preferred stock. St. Cloud is a member of an investment group, led by Whitney & Co., LLC, that funded the management-led buyout of EMS. Based in Peterborough, NH, EMS is one of the leading outdoor specialty retailers with over 80 stores across 16 states. EMS designs and sells products for outdoor athletes and enthusiasts who participate in a variety of sports such as mountaineering, backpacking, camping, hiking, adventure racing, climbing, kayaking, mountain biking and snow sports. St. Cloud’s notes were repaid in full. St. Cloud still retains its equity position in the Company.