Cover Page
Cover Page - shares | 9 Months Ended | |
Sep. 30, 2022 | Oct. 31, 2022 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2022 | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q3 | |
Entity Registrant Name | SLR INVESTMENT CORP. | |
Securities Act File Number | 814-00754 | |
Entity Tax Identification Number | 26-1381340 | |
Trading Symbol | SLRC | |
Entity Central Index Key | 0001418076 | |
Current Fiscal Year End Date | --12-31 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Interactive Data Current | Yes | |
City Area Code | 212 | |
Local Phone Number | 993-1670 | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Address, Address Line One | 500 Park Avenue | |
Entity Shell Company | false | |
Title of 12(b) Security | Common Stock, par value $0.01 per share | |
Security Exchange Name | NASDAQ | |
Entity Address, State or Province | NY | |
Entity Address, City or Town | New York | |
Entity Address, Postal Zip Code | 10022 | |
Entity Incorporation, State or Country Code | MD | |
Entity Common Stock, Shares Outstanding | 54,772,651 |
Consolidated Statements of Asse
Consolidated Statements of Assets And Liabilities - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Investments at fair value: | ||
Cash | $ 7,983 | $ 2,935 |
Cash equivalents (cost: $268,931 and $320,000, respectively) | 268,931 | 320,000 |
Dividends receivable | 11,542 | 9,028 |
Interest receivable | 9,456 | 6,521 |
Receivable for investments sold | 1,276 | 1,378 |
Prepaid expenses and other assets | 886 | 567 |
Total assets | 2,455,435 | 2,011,011 |
Liabilities | ||
Debt ($1,156,200 and $818,500 face amounts, respectively, reported net of unamortized debt issuance costs/market discount of $7,909 and $6,462, respectively. See notes 6 and 7) | 1,148,291 | 812,038 |
Payable for investments and cash equivalents purchased | 268,952 | 320,041 |
Distributions payable | 7,486 | 17,327 |
Management fee payable (see note 3) | 7,890 | 7,435 |
Performance-based incentive fee payable (see note 3) | 4,771 | 1,864 |
Interest payable (see note 7) | 7,083 | 4,492 |
Administrative services payable (see note 3) | 1,293 | 2,689 |
Other liabilities and accrued expenses | 3,444 | 2,844 |
Total liabilities | 1,449,210 | 1,168,730 |
Commitments and contingencies (see note 10) | ||
Net Assets | ||
Common stock, par value $0.01 per share, 200,000,000 and 200,000,000 common shares authorized, respectively, and 54,772,651 and 42,260,826 shares issued and outstanding, respectively | 548 | 423 |
Paid-in capital in excess of par | 1,163,713 | 936,999 |
Accumulated distributable net loss | (158,036) | (95,141) |
Total net assets | $ 1,006,225 | $ 842,281 |
Net Asset Value Per Share | $ 18.37 | $ 19.93 |
Companies less than 5% owned [Member] | ||
Investments at fair value: | ||
Investment Owned, at Fair Value | $ 1,368,827 | $ 964,379 |
Companies more than 25% owned [Member] | ||
Investments at fair value: | ||
Investment Owned, at Fair Value | $ 786,534 | $ 706,203 |
Consolidated Statements of As_2
Consolidated Statements of Assets And Liabilities (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Investment owned, at cost | $ 2,467,745 | $ 2,016,953 |
Cash equivalents at cost | 268,931 | 320,000 |
Debt instrument, face amount | 1,156,200 | 818,500 |
Debt issuance costs | $ 7,909 | $ 6,462 |
Common stock, par or stated value per share | $ 0.01 | $ 0.01 |
Common Stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, shares, issued | 54,772,651 | 42,260,826 |
Common stock, shares, outstanding | 54,772,651 | 42,260,826 |
Companies less than 5% owned [Member] | ||
Investment owned, at cost | $ 1,386,014 | $ 985,088 |
Companies more than 25% owned [Member] | ||
Investment owned, at cost | $ 812,800 | $ 711,865 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
INVESTMENT INCOME: | ||||
Total investment income | $ 47,567 | $ 32,163 | $ 123,353 | $ 103,622 |
EXPENSES: | ||||
Management fees (see note 3) | 7,890 | 7,142 | 22,019 | 20,842 |
Performance-based incentive fees (see note 3) | 4,965 | 698 | 9,699 | 8,444 |
Interest and other credit facility expenses (see note 7) | 12,784 | 7,127 | 31,464 | 21,502 |
Administrative services expense (see note 3) | 1,132 | 1,435 | 3,684 | 4,170 |
Other general and administrative expenses | 935 | 755 | 4,212 | 2,673 |
Total expenses | 27,706 | 17,157 | 71,078 | 57,631 |
Performance-based incentive fees waived (see note 3) | (194) | 0 | (1,552) | 0 |
Net expenses | 27,512 | 17,157 | 69,526 | 57,631 |
Net investment income | 20,055 | 15,006 | 53,827 | 45,991 |
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND CASH EQUIVALENTS: | ||||
Net realized gain (loss) on investments and cash equivalents (companies less than 5% owned) | (37,326) | (127) | (37,401) | 68 |
Net change in unrealized gain (loss) on investments and cash equivalents: | ||||
Net change in unrealized gain (loss) on investments and cash equivalents | 30,799 | (1,508) | (17,081) | 7,389 |
Net realized and unrealized gain (loss) on investments and cash equivalents | (6,527) | (1,635) | (54,482) | 7,457 |
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ 13,528 | $ 13,371 | $ (655) | $ 53,448 |
Earnings Per Share, Basic | $ 0.25 | $ 0.32 | $ (0.01) | $ 1.26 |
Earnings Per Share, Diluted | $ 0.25 | $ 0.32 | $ (0.01) | $ 1.26 |
Companies less than 5% owned [Member] | ||||
INVESTMENT INCOME: | ||||
Interest | $ 32,933 | $ 19,202 | $ 82,450 | $ 62,517 |
Dividends | 0 | 0 | 0 | 133 |
Other income | 234 | 1,044 | 1,222 | 3,862 |
Net change in unrealized gain (loss) on investments and cash equivalents: | ||||
Net change in unrealized gain (loss) on investments and cash equivalents | 28,783 | (6,507) | 3,521 | 1,284 |
Companies more than 25% owned [Member] | ||||
INVESTMENT INCOME: | ||||
Interest | 2,431 | 2,834 | 6,914 | 8,605 |
Dividends | 11,969 | 9,078 | 32,767 | 28,485 |
Other income | 0 | 5 | 0 | 20 |
Net change in unrealized gain (loss) on investments and cash equivalents: | ||||
Net change in unrealized gain (loss) on investments and cash equivalents | $ 2,016 | $ 4,999 | $ (20,602) | $ 6,105 |
Consolidated Statements of Chan
Consolidated Statements of Changes In Net Assets - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Increase (decrease) in net assets resulting from operations: | ||||
Net investment income | $ 20,055 | $ 15,006 | $ 53,827 | $ 45,991 |
Net realized gain (loss) | (37,326) | (127) | (37,401) | 68 |
Net change in unrealized gain (loss) | 30,799 | (1,508) | (17,081) | 7,389 |
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | 13,528 | 13,371 | (655) | 53,448 |
Distributions to stockholders: | ||||
From net investment income | (20,055) | (17,327) | (53,827) | (51,981) |
From return of capital | (2,401) | 0 | (8,413) | 0 |
Net distributions to stockholders | (22,456) | (17,327) | (62,240) | (51,981) |
Capital transactions (see note 12): | ||||
Issuance of common stock | 0 | 0 | 226,839 | 0 |
Total increase (decrease) in net assets | (8,928) | (3,956) | 163,944 | 1,467 |
Net assets at beginning of period | 1,015,153 | 857,446 | 842,281 | 852,023 |
Net assets at end of period | $ 1,006,225 | $ 853,490 | $ 1,006,225 | $ 853,490 |
Capital stock activity (see note 12): | ||||
Issuance of common stock | 0 | 0 | 12,511,825 | 0 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | ||
Cash Flows from Operating Activities | |||
Net increase (decrease) in net assets resulting from operations | $ (655) | $ 53,448 | |
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by operating activities: | |||
Net realized (gain) loss on investments and cash equivalents | 37,401 | (68) | |
Net change in unrealized (gain) loss on investments | 17,081 | (7,389) | |
(Increase) decrease in operating assets: | |||
Purchase of investments | (406,302) | (398,349) | |
Proceeds from disposition of investments | 259,784 | 321,918 | |
Net accretion of discount on investments | (7,760) | (4,652) | |
Capitalization of payment-in-kind income | (1,753) | (5,000) | |
Collections of payment-in-kind income | 1,112 | 942 | |
Receivable for investments sold | 102 | 51 | |
Interest receivable | (2,935) | 838 | |
Dividends receivable | (2,514) | (1,092) | |
Prepaid expenses and other assets | (319) | (40) | |
Cash acquired in merger | 2,313 | 0 | |
Increase (decrease) in operating liabilities: | |||
Payable for investments and cash equivalents purchased | (51,089) | 116,760 | |
Management fee payable | 455 | 607 | |
Performance-based incentive fee payable | 2,907 | (94) | |
Administrative services expense payable | (1,396) | 206 | |
Interest payable | 2,591 | 3,175 | |
Other liabilities and accrued expenses | 600 | 62 | |
Deferred financing costs/market discount | 1,631 | 1,169 | |
Net Cash Provided by (Used in) Operating Activities | (148,746) | 82,492 | |
Cash Flows from Financing Activities: | |||
Cash distributions paid | (72,081) | (51,981) | |
Proceeds from unsecured borrowings | 134,914 | 49,966 | |
Repayment of unsecured borrowings | (150,000) | 0 | |
Proceeds from secured borrowings | 743,892 | 457,000 | |
Repayment of secured borrowings | (554,000) | (466,260) | |
Net Cash Provided by (Used in) Financing Activities | 102,725 | (11,275) | |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (46,021) | 71,217 | |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 322,935 | 388,776 | |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 276,914 | 459,993 | |
Supplemental disclosure of cash flow information: | |||
Cash paid for interest | 28,873 | 18,327 | |
Issuance of shares in connection with the Merger | [1] | $ 226,839 | $ 0 |
[1]On April 1, 2022, in connection with the Merger (as defined in Note 1 “Organization”), the Company acquired net assets of $244,691 for the total stock consideration of $226,839. For further details, refer to Note 16 “Merger with SUNS”. |
Consolidated Statements of Ca_2
Consolidated Statements of Cash Flows (Parenthetical) $ in Thousands | Apr. 01, 2022 USD ($) |
Statement of Cash Flows [Abstract] | |
Noncash or part noncash acquisition, value of assets acquired | $ 244,691 |
Stock issued | $ 226,839 |
Consolidated Schedule of Invest
Consolidated Schedule of Investments - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2022 | Dec. 31, 2021 | |||
Schedule of Investments [Line Items] | ||||
Cost | $ 2,467,745 | $ 2,016,953 | ||
Total Investments & Cash Equivalents | 2,424,292 | 1,990,582 | ||
Liabilities in Excess of Other Assets | (1,418,067) | (1,148,301) | ||
Total net assets | $ 1,006,225 | $ 842,281 | ||
Percentage of Total Investments (at fair value) | 100% | 100% | ||
Senior Secured Loans 0 134.4% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Cost | $ 1,373,866 | |||
Fair Value | 1,352,503 | |||
Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Cost | 958,828 | |||
Fair Value | 936,888 | |||
Senior Secured Loans 0 134.4% [Member] | Second Lien Asset-Based Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Cost | 58,863 | |||
Fair Value | 59,488 | |||
Senior Secured Loans 0 134.4% [Member] | Second Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Cost | 11,791 | |||
Fair Value | $ 6,450 | |||
Senior Secured Loans 0 134.4% [Member] | First Lien Life Science Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [1] | 11.23% | ||
Cost | $ 344,384 | |||
Fair Value | 349,677 | |||
Preferred Equity 3 0.4% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Cost | 5,254 | |||
Fair Value | 4,176 | |||
Total Investments [Member] | ||||
Schedule of Investments [Line Items] | ||||
Cost | 2,198,814 | $ 1,696,953 | [2] | |
Fair Value | $ 2,155,361 | 1,670,582 | [2] | |
Senior Secured Loans 0 111.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Cost | 959,162 | |||
Fair Value | 939,690 | |||
Senior Secured Loans 0 111.5% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Cost | 579,211 | |||
Fair Value | 559,571 | |||
Senior Secured Loans 0 111.5% [Member] | Second Lien Asset-Based Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Cost | 58,795 | |||
Fair Value | 58,889 | |||
Senior Secured Loans 0 111.5% [Member] | Second Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Cost | 49,576 | |||
Fair Value | 48,703 | |||
Senior Secured Loans 0 111.5% [Member] | First Lien Life Science Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Cost | 271,580 | |||
Fair Value | 272,527 | |||
Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Cost | 292,365 | |||
Fair Value | 273,795 | |||
Preferred Equity 3 0.7% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Cost | 6,049 | |||
Fair Value | 5,630 | |||
Common Equity/Equity Interests/Warrants 0 53.6% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Cost | 439,377 | |||
Fair Value | $ 451,467 | |||
Cash Equivalents 0 38.0% [Member] | U.S. Treasury Bill [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Government | |||
Acquisition Date | Dec. 31, 2021 | |||
Maturity Date | Jan. 25, 2022 | |||
Par Amount | $ 320,000 | |||
Cost | 320,000 | |||
Fair Value | $ 320,000 | |||
Multi-Sector Holdings (includes Kingsbridge Holdings, LLC, SLR Equipment Finance, Equipment Operating Leases, LLC and Loyer Capital LLC) [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 18.30% | 24.80% | ||
Diversified Financial Services (includes SLR Credit Solutions) [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 21.50% | 20.70% | ||
Health Care Providers & Services [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 7.10% | 9.60% | ||
Pharmaceuticals [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 8.10% | 7.80% | ||
Health Care Equipment & Supplies [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 6.10% | 5% | ||
Software [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 4.30% | 5% | ||
Biotechnology [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 2.50% | 2.40% | ||
Wireless Telecommunication Services [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 2.20% | 2.20% | ||
Capital Markets [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 1.60% | 1.60% | ||
Personal Products [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 1.80% | 2% | ||
Road & Rail [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 1.70% | 1.90% | ||
IT Services [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 2% | 1.90% | ||
Insurance [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 4.80% | 1.60% | ||
Diversified Consumer Services [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 2.40% | 1.80% | ||
Commercial Services & Supplies [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 0.90% | 1.60% | ||
Auto Parts & Equipment [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 1.20% | 1.50% | ||
Internet & Catalog Retail [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 1.10% | 1.50% | ||
Packaged Foods & Meats [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 1.20% | 1.10% | ||
Life Sciences Tools & Services [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 1.20% | 1% | ||
Communications Equipment [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 0.70% | 0.90% | ||
Specialty Retail [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 0.50% | 0.70% | ||
Auto Components [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 0.40% | 0.60% | ||
Airlines [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 0.40% | 0.60% | ||
Health Care Technology [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 0.80% | 0.50% | ||
Machinery [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 0.20% | 0.30% | ||
Metals & Mining [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 0.20% | 0.30% | ||
Aerospace & Defense [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 0.20% | 0.30% | ||
Consumer Finance [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 0.10% | 0.10% | ||
Air Freight & Logistics [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 0.10% | |||
Construction & Engineering [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 0% | 0.10% | ||
Hotels, Restaurants & Leisure [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 0.30% | 0.30% | ||
Oil, Gas & Consumable Fuels [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 0% | 0.10% | ||
Containers & Packaging [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 0% | 0% | ||
Energy Equipment & Services [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 0% | 0.10% | ||
Building Products [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 0.90% | |||
Internet Software Services [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 0.90% | |||
Trading Companies and Distributors [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 0.90% | |||
Leisure Equipment and Products [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 0.50% | |||
Professional Services [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 0% | |||
Footwear [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 0.20% | |||
Water Utilities [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 0.10% | |||
Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Cost | $ 263,950 | |||
Fair Value | 238,553 | |||
Common Equity/Equity Interests/Warrants 055.7% | ||||
Schedule of Investments [Line Items] | ||||
Cost | 555,744 | |||
Fair Value | $ 560,129 | |||
Cash Equivalents 0 26.7% | U.S. Treasury Bill [Member] | ||||
Schedule of Investments [Line Items] | ||||
Acquisition Date | Sep. 30, 2022 | |||
Maturity Date | Nov. 22, 2022 | |||
Par Amount | $ 270,000 | |||
Cost | 268,931 | |||
Fair Value | $ 268,931 | |||
Thrifts Mortgage Finance [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 1.30% | |||
Media [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 0.90% | |||
Food Products [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 0.50% | |||
Transportation Infrastructure [Member] | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Total Investments (at fair value) | 0% | |||
Aegis Toxicology Sciences Corporation [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [3] | Health Care Providers & Services | ||
Spread Above Index | [3],[4] | L+550 | ||
Floor | [3] | 1% | ||
Interest Rate | [1],[3] | 8.41% | ||
Acquisition Date | [3] | May 07, 2018 | ||
Maturity Date | [3] | May 09, 2025 | ||
Par Amount | [3] | $ 17,176 | ||
Cost | [3] | 16,836 | ||
Fair Value | [3] | $ 17,176 | ||
Aegis Toxicology Sciences Corporation [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Health Care Providers & Services | |||
Spread Above Index | [5] | L+550 | ||
Floor | 1% | |||
Interest Rate | [6] | 6.50% | ||
Acquisition Date | May 07, 2018 | |||
Maturity Date | May 09, 2025 | |||
Par Amount | $ 12,402 | |||
Cost | 12,283 | |||
Fair Value | $ 12,402 | |||
All State Ag Parts LLC [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [3] | Trading Companies & Distributors | ||
Spread Above Index | [3],[4] | S+500 | ||
Floor | [3] | 1% | ||
Interest Rate | [1],[3] | 7.84% | ||
Acquisition Date | [3] | Apr. 01, 2022 | ||
Maturity Date | [3] | Sep. 01, 2026 | ||
Par Amount | [3] | $ 2,681 | ||
Cost | [3] | 2,591 | ||
Fair Value | [3] | $ 2,681 | ||
Alteon Health, LLC [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Health Care Providers & Services | |||
Spread Above Index | [5] | L+650 | ||
Floor | 1% | |||
Interest Rate | [6] | 7.50% | ||
Acquisition Date | Sep. 14, 2018 | |||
Maturity Date | Sep. 01, 2023 | |||
Par Amount | $ 14,117 | |||
Cost | 14,079 | |||
Fair Value | $ 14,117 | |||
American Teleconferencing Services, Ltd. [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [7] | Communications Equipment | ||
Spread Above Index | [4],[7] | L+650 | ||
Floor | [7] | 1% | ||
Interest Rate | [1],[7] | 0% | ||
Acquisition Date | [7] | May 05, 2016 | ||
Maturity Date | [7] | Sep. 09, 2021 | ||
Par Amount | [7] | $ 36,135 | ||
Cost | [7] | 25,926 | ||
Fair Value | [7] | $ 0 | ||
American Teleconferencing Services, Ltd. [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [7] | Communications Equipment | ||
Spread Above Index | [5],[7] | L+650 | ||
Floor | [7] | 1% | ||
Interest Rate | [6],[7] | 7.50% | ||
Acquisition Date | [7] | May 05, 2016 | ||
Maturity Date | [7] | Sep. 09, 2021 | ||
Par Amount | [7] | $ 24,822 | ||
Cost | [7] | 24,453 | ||
Fair Value | [7] | $ 3,345 | ||
American Teleconferencing Services, Ltd. [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [7] | Communications Equipment | ||
Spread Above Index | [4],[7] | L+650 | ||
Floor | [7] | 1% | ||
Interest Rate | [1],[7] | 0% | ||
Acquisition Date | [7] | Sep. 17, 2021 | ||
Maturity Date | [7] | Dec. 16, 2022 | ||
Par Amount | [7] | $ 6,581 | ||
Cost | [7] | 6,426 | ||
Fair Value | [7] | $ 1,287 | ||
American Teleconferencing Services, Ltd. [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [7] | Communications Equipment | ||
Spread Above Index | [5],[7] | L+650 | ||
Floor | [7] | 1% | ||
Interest Rate | [6],[7] | 7.50% | ||
Acquisition Date | [7] | Sep. 17, 2021 | ||
Maturity Date | [7] | Mar. 31, 2022 | ||
Par Amount | [7] | $ 4,576 | ||
Cost | [7] | 4,508 | ||
Fair Value | [7] | $ 4,576 | ||
AmeriMark Intermediate Holdings, LLC [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [8] | Internet & Catalog Retail | ||
Spread Above Index | [4],[8] | L+600 | ||
Floor | [8] | 1% | ||
Interest Rate | [1],[8] | 11.09% | ||
Acquisition Date | [8] | Jul. 28, 2021 | ||
Maturity Date | [8] | Oct. 15, 2026 | ||
Par Amount | [8] | $ 24,633 | ||
Cost | [8] | 24,225 | ||
Fair Value | [8] | $ 24,141 | ||
AmeriMark Intermediate Holdings, LLC [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [8] | Internet & Catalog Retail | ||
Spread Above Index | [5],[7] | L+600 | ||
Floor | [8] | 1% | ||
Interest Rate | [6],[8] | 7% | ||
Acquisition Date | [8] | Jul. 28, 2021 | ||
Maturity Date | [8] | Oct. 15, 2026 | ||
Par Amount | [8] | $ 25,226 | ||
Cost | [8] | 24,739 | ||
Fair Value | [8] | $ 24,721 | ||
Atria Wealth Solutions, Inc. [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Diversified Financial Services | |||
Spread Above Index | [4] | S+600 | ||
Floor | 1% | |||
Interest Rate | [1] | 8.79% | ||
Acquisition Date | Sep. 14, 2018 | |||
Maturity Date | Feb. 29, 2024 | |||
Par Amount | $ 10,674 | |||
Cost | 10,617 | |||
Fair Value | $ 10,674 | |||
Atria Wealth Solutions, Inc. [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Diversified Financial Services | |||
Spread Above Index | [5] | L+600 | ||
Floor | 1% | |||
Interest Rate | [6] | 7% | ||
Acquisition Date | Sep. 14, 2018 | |||
Maturity Date | Nov. 30, 2022 | |||
Par Amount | $ 6,345 | |||
Cost | 6,329 | |||
Fair Value | $ 6,345 | |||
Basic Fun, Inc. [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Specialty Retail | |||
Spread Above Index | [4] | L+550 | ||
Floor | 1% | |||
Interest Rate | [1] | 8.59% | ||
Acquisition Date | Oct. 30, 2020 | |||
Maturity Date | Oct. 30, 2023 | |||
Par Amount | $ 2,687 | |||
Cost | 2,675 | |||
Fair Value | $ 2,687 | |||
Basic Fun, Inc. [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Specialty Retail | |||
Spread Above Index | [5] | L+550 | ||
Floor | 1% | |||
Interest Rate | [6] | 6.50% | ||
Acquisition Date | Oct. 30, 2020 | |||
Maturity Date | Oct. 30, 2023 | |||
Par Amount | $ 2,902 | |||
Cost | 2,871 | |||
Fair Value | $ 2,902 | |||
BayMark Health Services Inc [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [3] | Health Care Providers & Services | ||
Spread Above Index | [3],[4] | L+500 | ||
Floor | [3] | 1% | ||
Interest Rate | [1],[3] | 8.12% | ||
Acquisition Date | [3] | Apr. 01, 2022 | ||
Maturity Date | [3] | Jun. 11, 2027 | ||
Par Amount | [3] | $ 12,455 | ||
Cost | [3] | 11,968 | ||
Fair Value | [3] | $ 12,455 | ||
CC SAG Holdings Corp. (Spectrum Automotive) [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [3] | Diversified Consumer Services | ||
Spread Above Index | [3],[4] | L+575 | ||
Floor | [3] | 0.75% | ||
Interest Rate | [1],[3] | 9.42% | ||
Acquisition Date | [3] | Jun. 29, 2021 | ||
Maturity Date | [3] | Jun. 29, 2028 | ||
Par Amount | [3] | $ 16,794 | ||
Cost | [3] | 16,468 | ||
Fair Value | [3] | $ 16,794 | ||
CC SAG Holdings Corp. (Spectrum Automotive) [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Diversified Consumer Services | |||
Spread Above Index | [5] | L+575 | ||
Floor | 0.75% | |||
Interest Rate | [6] | 6.50% | ||
Acquisition Date | Jun. 29, 2021 | |||
Maturity Date | Jun. 29, 2028 | |||
Par Amount | $ 12,168 | |||
Cost | 11,995 | |||
Fair Value | $ 12,168 | |||
Community Brands ParentCo, LLC (fka Ministry Brands) [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Software | |||
Spread Above Index | [5] | L+400 | ||
Floor | 1% | |||
Interest Rate | [6] | 5% | ||
Acquisition Date | Jul. 30, 2021 | |||
Maturity Date | Dec. 02, 2022 | |||
Par Amount | $ 34,901 | |||
Cost | 34,538 | |||
Fair Value | $ 34,901 | |||
Enhanced Permanent Capital, LLC [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [9] | Capital Markets | ||
Spread Above Index | [4],[9] | L+700 | ||
Floor | [9] | 1% | ||
Interest Rate | [1],[9] | 8.72% | ||
Acquisition Date | [9] | Dec. 29, 2020 | ||
Maturity Date | [9] | Dec. 29, 2025 | ||
Par Amount | [9] | $ 35,205 | ||
Cost | [9] | 34,444 | ||
Fair Value | [9] | $ 35,205 | ||
Enhanced Permanent Capital, LLC [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [10] | Capital Markets | ||
Spread Above Index | [5],[10] | L+700 | ||
Floor | [10] | 1% | ||
Interest Rate | [6],[10] | 8% | ||
Acquisition Date | [10] | Dec. 29, 2020 | ||
Maturity Date | [10] | Dec. 29, 2025 | ||
Par Amount | [10] | $ 26,061 | ||
Cost | [10] | 25,418 | ||
Fair Value | [10] | $ 26,061 | ||
Foundation Consumer Brands, LLC [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [3] | Personal Products | ||
Spread Above Index | [3],[4] | L+550 | ||
Floor | [3] | 1% | ||
Interest Rate | [1],[3] | 8.43% | ||
Acquisition Date | [3] | Feb. 12, 2021 | ||
Maturity Date | [3] | Feb. 12, 2027 | ||
Par Amount | [3] | $ 39,038 | ||
Cost | [3] | 38,070 | ||
Fair Value | [3] | $ 39,038 | ||
Foundation Consumer Brands, LLC [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Personal Products | |||
Spread Above Index | [5] | L+638 | ||
Floor | 1% | |||
Interest Rate | [6] | 7.38% | ||
Acquisition Date | Feb. 12, 2021 | |||
Maturity Date | Feb. 12, 2027 | |||
Par Amount | $ 33,367 | |||
Cost | 32,633 | |||
Fair Value | $ 33,367 | |||
iCIMS, Inc. [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Software | |||
Spread Above Index | [4] | S+675 | ||
Floor | 0.75% | |||
Interest Rate | [1] | 9.49% | ||
Acquisition Date | Aug. 18, 2022 | |||
Maturity Date | Aug. 18, 2028 | |||
Par Amount | $ 32,084 | |||
Cost | 31,530 | |||
Fair Value | $ 31,522 | |||
iCIMS, Inc. [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Software | |||
Spread Above Index | [5] | L+650 | ||
Floor | 1% | |||
Interest Rate | [6] | 7.50% | ||
Acquisition Date | Sep. 07, 2018 | |||
Maturity Date | Sep. 12, 2024 | |||
Par Amount | $ 19,341 | |||
Cost | 19,120 | |||
Fair Value | $ 19,341 | |||
Inszone Mid, LLC [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Insurance | |||
Spread Above Index | [4] | L+575 | ||
Floor | 1% | |||
Interest Rate | [1] | 8.23% | ||
Acquisition Date | Sep. 28, 2021 | |||
Maturity Date | Jun. 30, 2026 | |||
Par Amount | $ 20,670 | |||
Cost | 20,487 | |||
Fair Value | $ 20,670 | |||
Inszone Mid, LLC [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Insurance | |||
Spread Above Index | [5] | L+575 | ||
Floor | 1% | |||
Interest Rate | [6] | 6.75% | ||
Acquisition Date | Sep. 28, 2021 | |||
Maturity Date | Jun. 30, 2026 | |||
Par Amount | $ 11,141 | |||
Cost | 11,035 | |||
Fair Value | $ 11,086 | |||
Ivy Fertility Services, LLC [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Health Care Providers & Services | |||
Spread Above Index | [4] | L+625 | ||
Floor | 1% | |||
Interest Rate | [1] | 8.80% | ||
Acquisition Date | Dec. 22, 2021 | |||
Maturity Date | Feb. 25, 2026 | |||
Par Amount | $ 33,176 | |||
Cost | 32,406 | |||
Fair Value | $ 33,176 | |||
Ivy Fertility Services, LLC [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Health Care Providers & Services | |||
Spread Above Index | [5] | L+625 | ||
Floor | 1% | |||
Interest Rate | [6] | 7.25% | ||
Acquisition Date | Dec. 22, 2021 | |||
Maturity Date | Feb. 25, 2026 | |||
Par Amount | $ 21,677 | |||
Cost | 21,299 | |||
Fair Value | $ 21,298 | |||
Kid Distro Holdings, LLC (Distro Kid) [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Software | |||
Spread Above Index | [4] | L+575 | ||
Floor | 1% | |||
Interest Rate | [1] | 8.63% | ||
Acquisition Date | Sep. 24, 2021 | |||
Maturity Date | Oct. 01, 2027 | |||
Par Amount | $ 29,519 | |||
Cost | 29,010 | |||
Fair Value | $ 29,519 | |||
Kid Distro Holdings, LLC (Distro Kid) [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Software | |||
Spread Above Index | [5] | L+600 | ||
Floor | 1% | |||
Interest Rate | [6] | 7% | ||
Acquisition Date | Sep. 24, 2021 | |||
Maturity Date | Oct. 01, 2027 | |||
Par Amount | $ 29,743 | |||
Cost | 29,168 | |||
Fair Value | $ 29,148 | |||
Kingsbridge Holdings, LLC [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [11] | Multi-Sector Holdings | ||
Spread Above Index | [4],[11] | L+700 | ||
Floor | [11] | 1% | ||
Interest Rate | [1],[11] | 9.29% | ||
Acquisition Date | [11] | Dec. 21, 2018 | ||
Maturity Date | [11] | Dec. 21, 2024 | ||
Par Amount | [11] | $ 80,000 | ||
Cost | [11] | 79,778 | ||
Fair Value | [11] | $ 80,000 | ||
Kingsbridge Holdings, LLC [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [12] | Multi-Sector Holdings | ||
Spread Above Index | [5],[12] | L+700 | ||
Floor | [12] | 1% | ||
Interest Rate | [6],[12] | 8% | ||
Acquisition Date | [12] | Dec. 21, 2018 | ||
Maturity Date | [12] | Dec. 21, 2024 | ||
Par Amount | [12] | $ 80,000 | ||
Cost | [12] | 79,713 | ||
Fair Value | [12] | $ 80,000 | ||
KORE Wireless Group, Inc. [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [3] | Wireless Telecommunication Services | ||
Spread Above Index | [3],[4] | L+550 | ||
Floor | [3] | 0% | ||
Interest Rate | [1],[3] | 9.17% | ||
Acquisition Date | [3] | Dec. 21, 2018 | ||
Maturity Date | [3] | Dec. 21, 2024 | ||
Par Amount | [3] | $ 47,899 | ||
Cost | [3] | 47,169 | ||
Fair Value | [3] | $ 47,899 | ||
KORE Wireless Group, Inc. [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [10] | Wireless Telecommunication Services | ||
Spread Above Index | [5],[10] | L+550 | ||
Floor | [10] | 0% | ||
Interest Rate | [6],[10] | 5.72% | ||
Acquisition Date | [10] | Dec. 21, 2018 | ||
Maturity Date | [10] | Dec. 21, 2024 | ||
Par Amount | [10] | $ 36,470 | ||
Cost | [10] | 36,062 | ||
Fair Value | [10] | $ 36,470 | ||
Logix Holding Company, LLC [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [3] | Communications Equipment | ||
Spread Above Index | [3],[4] | L+575 | ||
Floor | [3] | 1% | ||
Interest Rate | [1],[3] | 8.87% | ||
Acquisition Date | [3] | Sep. 14, 2018 | ||
Maturity Date | [3] | Dec. 22, 2024 | ||
Par Amount | [3] | $ 14,009 | ||
Cost | [3] | 13,159 | ||
Fair Value | [3] | $ 13,449 | ||
Logix Holding Company, LLC [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Communications Equipment | |||
Spread Above Index | [5] | L+575 | ||
Floor | 1% | |||
Interest Rate | [6] | 6.75% | ||
Acquisition Date | Sep. 14, 2018 | |||
Maturity Date | Dec. 22, 2024 | |||
Par Amount | $ 7,400 | |||
Cost | 7,359 | |||
Fair Value | $ 7,178 | |||
Maurices, Incorporated [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [3] | Specialty Retail | ||
Spread Above Index | [3],[4] | L+675 | ||
Floor | [3] | 1% | ||
Interest Rate | [1],[3] | 9.38% | ||
Acquisition Date | [3] | Aug. 27, 2021 | ||
Maturity Date | [3] | Jun. 01, 2024 | ||
Par Amount | [3] | $ 8,914 | ||
Cost | [3] | 8,746 | ||
Fair Value | [3] | $ 8,914 | ||
Maurices, Incorporated [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Specialty Retail | |||
Spread Above Index | [5] | L+675 | ||
Floor | 1% | |||
Interest Rate | [6] | 7.75% | ||
Acquisition Date | Aug. 27, 2021 | |||
Maturity Date | Jun. 01, 2024 | |||
Par Amount | $ 5,135 | |||
Cost | 5,044 | |||
Fair Value | $ 5,135 | |||
MMIT Holdings, LLC [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | IT Services | |||
Spread Above Index | [4] | L+625 | ||
Floor | 1% | |||
Interest Rate | [1] | 9.50% | ||
Acquisition Date | Sep. 21, 2021 | |||
Maturity Date | Sep. 15, 2027 | |||
Par Amount | $ 30,909 | |||
Cost | 30,477 | |||
Fair Value | $ 30,909 | |||
MMIT Holdings, LLC [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | IT Services | |||
Spread Above Index | [5] | L+625 | ||
Floor | 1% | |||
Interest Rate | [6] | 7.25% | ||
Acquisition Date | Sep. 21, 2021 | |||
Maturity Date | Sep. 15, 2027 | |||
Par Amount | $ 31,026 | |||
Cost | 30,541 | |||
Fair Value | $ 31,026 | |||
NAC Holdings Corporation (Jaguar) [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [3] | Insurance | ||
Spread Above Index | [3],[4] | L+525 | ||
Floor | [3] | 1% | ||
Interest Rate | [1],[3] | 8.23% | ||
Acquisition Date | [3] | Jul. 30, 2021 | ||
Maturity Date | [3] | Sep. 28, 2024 | ||
Par Amount | [3] | $ 28,675 | ||
Cost | [3] | 28,234 | ||
Fair Value | [3] | $ 28,675 | ||
NAC Holdings Corporation (Jaguar) [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Insurance | |||
Spread Above Index | [5] | L+525 | ||
Floor | 1% | |||
Interest Rate | [6] | 6.25% | ||
Acquisition Date | Jul. 30, 2021 | |||
Maturity Date | Sep. 28, 2024 | |||
Par Amount | $ 15,924 | |||
Cost | 15,730 | |||
Fair Value | $ 15,844 | |||
One Touch Direct, LLC [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Commercial Services & Supplies | |||
Spread Above Index | [4] | P+75 | ||
Floor | 0% | |||
Interest Rate | [1] | 7% | ||
Acquisition Date | Apr. 03, 2020 | |||
Maturity Date | Mar. 30, 2024 | |||
Par Amount | $ 3,487 | |||
Cost | 3,487 | |||
Fair Value | $ 3,487 | |||
One Touch Direct, LLC [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Commercial Services & Supplies | |||
Spread Above Index | [5] | P+75 | ||
Floor | 0% | |||
Interest Rate | [6] | 4% | ||
Acquisition Date | Apr. 03, 2020 | |||
Maturity Date | Sep. 30, 2022 | |||
Par Amount | $ 274 | |||
Cost | 274 | |||
Fair Value | $ 274 | |||
PhyNet Dermatology LLC [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Health Care Providers & Services | |||
Spread Above Index | [4],[13] | L+600 | ||
Floor | 1% | |||
Interest Rate | [1] | 8.85% | ||
Acquisition Date | Sep. 05, 2018 | |||
Maturity Date | Aug. 16, 2024 | |||
Par Amount | $ 14,498 | |||
Cost | 14,454 | |||
Fair Value | $ 14,498 | |||
PhyNet Dermatology LLC [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Health Care Providers & Services | |||
Spread Above Index | [5],[13] | L+600 | ||
Floor | 1% | |||
Interest Rate | [6] | 7% | ||
Acquisition Date | Sep. 05, 2018 | |||
Maturity Date | Aug. 16, 2024 | |||
Par Amount | $ 14,589 | |||
Cost | 14,529 | |||
Fair Value | $ 14,589 | |||
Pinnacle Treatment Centers, Inc. [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [3] | Health Care Providers & Services | ||
Spread Above Index | [3],[4] | L+575 | ||
Floor | [3] | 1% | ||
Interest Rate | [1],[3] | 8% | ||
Acquisition Date | [3] | Jan. 22, 2020 | ||
Maturity Date | [3] | Dec. 31, 2022 | ||
Par Amount | [3] | $ 16,289 | ||
Cost | [3] | 16,223 | ||
Fair Value | [3] | $ 16,289 | ||
Pinnacle Treatment Centers, Inc. [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Health Care Providers & Services | |||
Spread Above Index | [5] | L+575 | ||
Floor | 1% | |||
Interest Rate | [6] | 6.75% | ||
Acquisition Date | Jan. 22, 2020 | |||
Maturity Date | Dec. 31, 2022 | |||
Par Amount | $ 11,996 | |||
Cost | 11,953 | |||
Fair Value | $ 11,996 | |||
PPT Management Holdings, LLC [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [3] | Health Care Providers & Services | ||
Spread Above Index | [3],[4],[14] | L+850 | ||
Floor | [3] | 1% | ||
Interest Rate | [1],[3] | 10.78% | ||
Acquisition Date | [3] | Sep. 14, 2018 | ||
Maturity Date | [3] | Dec. 16, 2022 | ||
Par Amount | [3] | $ 30,515 | ||
Cost | [3] | 30,000 | ||
Fair Value | [3] | $ 24,503 | ||
PPT Management Holdings, LLC [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Health Care Providers & Services | |||
Spread Above Index | [5],[15] | L+800 | ||
Floor | 1% | |||
Interest Rate | [6] | 9% | ||
Acquisition Date | Sep. 14, 2018 | |||
Maturity Date | Dec. 16, 2022 | |||
Par Amount | $ 21,120 | |||
Cost | 21,086 | |||
Fair Value | $ 18,374 | |||
RQM+ Corp. [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [3] | Life Sciences Tools & Services | ||
Spread Above Index | [3],[4] | L+575 | ||
Floor | [3] | 1% | ||
Interest Rate | [1],[3] | 9.31% | ||
Acquisition Date | [3] | Aug. 20, 2021 | ||
Maturity Date | [3] | Aug. 12, 2026 | ||
Par Amount | [3] | $ 26,890 | ||
Cost | [3] | 26,501 | ||
Fair Value | [3] | $ 26,890 | ||
RQM+ Corp. [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Life Sciences Tools & Services | |||
Spread Above Index | [5] | L+575 | ||
Floor | 1% | |||
Interest Rate | [6] | 6.75% | ||
Acquisition Date | Aug. 20, 2021 | |||
Maturity Date | Aug. 12, 2026 | |||
Par Amount | $ 16,504 | |||
Cost | 16,349 | |||
Fair Value | $ 16,462 | |||
Stryten Energy LLC [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Auto Parts & Equipment | |||
Spread Above Index | [5] | L+800 | ||
Floor | 1% | |||
Interest Rate | [6] | 9% | ||
Acquisition Date | Aug. 11, 2021 | |||
Maturity Date | Oct. 12, 2026 | |||
Par Amount | $ 26,184 | |||
Cost | 25,676 | |||
Fair Value | $ 25,923 | |||
SunMed Group Holdings, LLC [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [3] | Health Care Equipment & Supplies | ||
Spread Above Index | [3],[4] | L+575 | ||
Floor | [3] | 0.75% | ||
Interest Rate | [1],[3] | 8.82% | ||
Acquisition Date | [3] | Jun. 16, 2021 | ||
Maturity Date | [3] | Jun. 16, 2028 | ||
Par Amount | [3] | $ 25,014 | ||
Cost | [3] | 24,487 | ||
Fair Value | [3] | $ 25,014 | ||
SunMed Group Holdings, LLC [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Health Care Equipment & Supplies | |||
Spread Above Index | [5] | L+575 | ||
Floor | 0.75% | |||
Interest Rate | [6] | 6.50% | ||
Acquisition Date | Jun. 16, 2021 | |||
Maturity Date | Jun. 16, 2028 | |||
Par Amount | $ 18,536 | |||
Cost | 18,232 | |||
Fair Value | $ 18,351 | |||
Ultimate Baked Goods Midco LLC (Rise Baking) [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [3] | Packaged Foods & Meats | ||
Spread Above Index | [3],[4] | L+650 | ||
Floor | [3] | 1% | ||
Interest Rate | [1],[3] | 10.17% | ||
Acquisition Date | [3] | Aug. 12, 2021 | ||
Maturity Date | [3] | Aug. 13, 2027 | ||
Par Amount | [3] | $ 26,136 | ||
Cost | [3] | 25,322 | ||
Fair Value | [3] | $ 25,874 | ||
Ultimate Baked Goods Midco LLC (Rise Baking) [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Packaged Foods & Meats | |||
Spread Above Index | [5] | L+625 | ||
Floor | 1% | |||
Interest Rate | [6] | 7.25% | ||
Acquisition Date | Aug. 12, 2021 | |||
Maturity Date | Aug. 13, 2027 | |||
Par Amount | $ 19,381 | |||
Cost | 18,920 | |||
Fair Value | $ 18,896 | |||
USR Parent, Inc. (Staples) [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Specialty Retail | |||
Spread Above Index | [5] | L+884 | ||
Floor | 1% | |||
Interest Rate | [6] | 9.84% | ||
Acquisition Date | Jun. 03, 2020 | |||
Maturity Date | Sep. 12, 2022 | |||
Par Amount | $ 3,275 | |||
Cost | 3,275 | |||
Fair Value | $ 3,275 | |||
ACRES Commercial Mortgage, LLC [Member] | Senior Secured Loans 0 134.4% [Member] | Second Lien Asset-Based Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Diversified Financial Services | |||
Spread Above Index | [4] | S+705 | ||
Floor | 1% | |||
Interest Rate | [1] | 9.82% | ||
Acquisition Date | Dec. 24, 2021 | |||
Maturity Date | Aug. 21, 2028 | |||
Par Amount | $ 29,925 | |||
Cost | 29,380 | |||
Fair Value | $ 29,925 | |||
ACRES Commercial Mortgage, LLC [Member] | Senior Secured Loans 0 111.5% [Member] | Second Lien Asset-Based Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Diversified Financial Services | |||
Spread Above Index | [5] | L+705 | ||
Floor | 1% | |||
Interest Rate | [6] | 8.05% | ||
Acquisition Date | Dec. 24, 2021 | |||
Maturity Date | Aug. 21, 2028 | |||
Par Amount | $ 29,925 | |||
Cost | 29,328 | |||
Fair Value | $ 29,326 | |||
Varilease Finance, Inc. [Member] | Senior Secured Loans 0 134.4% [Member] | Second Lien Asset-Based Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Multi-Sector Holdings | |||
Spread Above Index | [4] | L+750 | ||
Floor | 1% | |||
Interest Rate | [1] | 9.79% | ||
Acquisition Date | Aug. 22, 2014 | |||
Maturity Date | Nov. 15, 2025 | |||
Par Amount | $ 29,563 | |||
Cost | 29,483 | |||
Fair Value | $ 29,563 | |||
Varilease Finance, Inc. [Member] | Senior Secured Loans 0 111.5% [Member] | Second Lien Asset-Based Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Multi-Sector Holdings | |||
Spread Above Index | [5] | L+750 | ||
Floor | 1% | |||
Interest Rate | [6] | 8.50% | ||
Acquisition Date | Aug. 22, 2014 | |||
Maturity Date | Nov. 15, 2025 | |||
Par Amount | $ 29,563 | |||
Cost | 29,467 | |||
Fair Value | $ 29,563 | |||
PhyMed Management LLC [Member] | Senior Secured Loans 0 111.5% [Member] | Second Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Health Care Providers & Services | |||
Spread Above Index | [5],[16] | L+1500 | ||
Floor | 1% | |||
Interest Rate | [6] | 16% | ||
Acquisition Date | Dec. 18, 2015 | |||
Maturity Date | Sep. 30, 2022 | |||
Par Amount | $ 37,819 | |||
Cost | 37,757 | |||
Fair Value | $ 36,874 | |||
Rug Doctor LLC [Member] | Senior Secured Loans 0 111.5% [Member] | Second Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [12] | Diversified Consumer Services | ||
Spread Above Index | [5],[12],[14] | L+975 | ||
Floor | [12] | 1.50% | ||
Interest Rate | [6],[12] | 11.25% | ||
Acquisition Date | [12] | Dec. 23, 2013 | ||
Maturity Date | [12] | May 16, 2023 | ||
Par Amount | [12] | $ 11,828 | ||
Cost | [12] | 11,819 | ||
Fair Value | [12] | $ 11,829 | ||
Alimera Sciences, Inc. [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Life Science Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [3] | Pharmaceuticals | ||
Spread Above Index | [3],[4] | L+765 | ||
Floor | [3] | 1.78% | ||
Interest Rate | [1],[3] | 10.28% | ||
Acquisition Date | [3] | Dec. 31, 2019 | ||
Maturity Date | [3] | Jul. 01, 2024 | ||
Par Amount | [3] | $ 23,159 | ||
Cost | [3] | 23,823 | ||
Fair Value | [3] | $ 26,280 | ||
Alimera Sciences, Inc. [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Life Science Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Pharmaceuticals | |||
Spread Above Index | [5] | L+765 | ||
Floor | 1.78% | |||
Interest Rate | [6] | 9.43% | ||
Acquisition Date | Dec. 31, 2019 | |||
Maturity Date | Jul. 01, 2024 | |||
Par Amount | $ 20,074 | |||
Cost | 20,512 | |||
Fair Value | $ 20,475 | |||
Arcutis Biotherapeutics, Inc. [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Life Science Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [9] | Pharamceuticals | ||
Spread Above Index | [4],[9] | L+745 | ||
Floor | [9] | 0.10% | ||
Interest Rate | [1],[9] | 10.08% | ||
Acquisition Date | [9] | Dec. 22, 2021 | ||
Maturity Date | [9] | Jan. 01, 2027 | ||
Par Amount | [9] | $ 66,849 | ||
Cost | [9] | 66,803 | ||
Fair Value | [9] | $ 67,518 | ||
Arcutis Biotherapeutics, Inc. [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Life Science Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [10] | Pharamceuticals | ||
Spread Above Index | [5],[10] | L+745 | ||
Floor | [10] | 0.10% | ||
Interest Rate | [6],[10] | 7.55% | ||
Acquisition Date | [10] | Dec. 22, 2021 | ||
Maturity Date | [10] | Jan. 01, 2027 | ||
Par Amount | [10] | $ 21,735 | ||
Cost | [10] | 21,645 | ||
Fair Value | [10] | $ 21,637 | ||
Ardelyx, Inc. [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Life Science Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Pharmaceuticals | |||
Spread Above Index | [4] | L+795 | ||
Floor | 0.10% | |||
Interest Rate | [1] | 10.58% | ||
Acquisition Date | Feb. 23, 2022 | |||
Maturity Date | Mar. 01, 2027 | |||
Par Amount | $ 9,475 | |||
Cost | 9,407 | |||
Fair Value | $ 9,475 | |||
Ardelyx, Inc. [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Life Science Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Pharmaceuticals | |||
Spread Above Index | [5] | L+745 | ||
Floor | 0.25% | |||
Interest Rate | [6] | 7.70% | ||
Acquisition Date | May 10, 2018 | |||
Maturity Date | Nov. 01, 2022 | |||
Par Amount | $ 14,972 | |||
Cost | 16,198 | |||
Fair Value | $ 16,170 | |||
Axcella Health Inc. [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Life Science Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Pharmaceuticals | |||
Spread Above Index | [4] | L+860 | ||
Floor | 0.10% | |||
Acquisition Date | Sep. 02, 2021 | |||
Maturity Date | Sep. 01, 2026 | |||
Par Amount | $ 7,137 | |||
Cost | 7,236 | |||
Fair Value | $ 7,262 | |||
Axcella Health Inc. [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Life Science Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Pharmaceuticals | |||
Spread Above Index | [5] | L+860 | ||
Floor | 0.10% | |||
Interest Rate | [6] | 8.70% | ||
Acquisition Date | Sep. 02, 2021 | |||
Maturity Date | Sep. 01, 2026 | |||
Par Amount | $ 9,278 | |||
Cost | 9,318 | |||
Fair Value | $ 9,302 | |||
BridgeBio Pharma, Inc. [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Life Science Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [9] | Biotechnology | ||
Spread Above Index | [4],[9] | 0 | ||
Floor | [9] | 0% | ||
Interest Rate | [1],[9] | 9% | ||
Acquisition Date | [9] | Nov. 17, 2021 | ||
Maturity Date | [9] | Nov. 17, 2026 | ||
Par Amount | [9] | $ 39,530 | ||
Cost | [9] | 38,954 | ||
Fair Value | [9] | $ 39,184 | ||
BridgeBio Pharma, Inc. [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Life Science Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [10] | Biotechnology | ||
Spread Above Index | [5],[10] | 0 | ||
Floor | [10] | 0% | ||
Interest Rate | [6],[10] | 9% | ||
Acquisition Date | [10] | Nov. 17, 2021 | ||
Maturity Date | [10] | Nov. 17, 2026 | ||
Par Amount | [10] | $ 34,574 | ||
Cost | [10] | 34,082 | ||
Fair Value | [10] | $ 34,055 | ||
Centrexion Therapeutics, Inc. [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Life Science Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Pharmaceuticals | |||
Spread Above Index | [4] | L+725 | ||
Floor | 2.45% | |||
Interest Rate | [1] | 9.88% | ||
Acquisition Date | Jun. 28, 2019 | |||
Maturity Date | Jan. 01, 2024 | |||
Par Amount | $ 14,578 | |||
Cost | 15,043 | |||
Fair Value | $ 15,015 | |||
Centrexion Therapeutics, Inc. [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Life Science Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Pharmaceuticals | |||
Spread Above Index | [5] | L+725 | ||
Floor | 2.45% | |||
Interest Rate | [6] | 9.70% | ||
Acquisition Date | Jun. 28, 2019 | |||
Maturity Date | Jan. 01, 2024 | |||
Par Amount | $ 16,400 | |||
Cost | 16,693 | |||
Fair Value | $ 16,728 | |||
Cerapedics, Inc. [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Life Science Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [3] | Health Care Equipment & Supplies | ||
Spread Above Index | [3],[4] | L+695 | ||
Floor | [3] | 2.50% | ||
Interest Rate | [1],[3] | 9.58% | ||
Acquisition Date | [3] | Mar. 22, 2019 | ||
Maturity Date | [3] | Mar. 01, 2025 | ||
Par Amount | [3] | $ 30,982 | ||
Cost | [3] | 32,059 | ||
Fair Value | [3] | $ 33,151 | ||
Cerapedics, Inc. [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Life Science Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Health Care Equipment & Supplies | |||
Spread Above Index | [5] | L+695 | ||
Floor | 2.50% | |||
Interest Rate | [6] | 9.45% | ||
Acquisition Date | Mar. 22, 2019 | |||
Maturity Date | Mar. 01, 2025 | |||
Par Amount | $ 26,861 | |||
Cost | 27,518 | |||
Fair Value | $ 27,465 | |||
Delphinus Medical Technologies, Inc. [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Life Science Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Health Care Equipment & Supplies | |||
Spread Above Index | [5] | L+850 | ||
Floor | 1% | |||
Interest Rate | [6] | 9.50% | ||
Acquisition Date | Aug. 18, 2017 | |||
Maturity Date | Jun. 01, 2022 | |||
Par Amount | $ 1,089 | |||
Cost | 1,414 | |||
Fair Value | $ 1,405 | |||
Delphinus Medical Technologies, Inc. [Member] | Common Equity/Equity Interests/Warrants 055.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [17] | Health Care Equipment & Supplies | ||
Glooko, Inc. [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Life Science Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [3] | Health Care Technology | ||
Spread Above Index | [3],[4] | L+790 | ||
Floor | [3] | 0.10% | ||
Interest Rate | [1],[3] | 10.53% | ||
Acquisition Date | [3] | Sep. 30, 2021 | ||
Maturity Date | [3] | Oct. 01, 2026 | ||
Par Amount | [3] | $ 15,883 | ||
Cost | [3] | 15,830 | ||
Fair Value | [3] | $ 15,903 | ||
Glooko, Inc. [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Life Science Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Health Care Technology | |||
Spread Above Index | [5] | L+790 | ||
Floor | 0.10% | |||
Interest Rate | [6] | 8% | ||
Acquisition Date | Sep. 30, 2021 | |||
Maturity Date | Oct. 01, 2026 | |||
Par Amount | $ 8,364 | |||
Cost | 8,339 | |||
Fair Value | $ 8,322 | |||
Neuronetics, Inc. [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Life Science Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [3] | Health Care Equipment & Supplies | ||
Spread Above Index | [3],[4] | L+765 | ||
Floor | [3] | 1.66% | ||
Interest Rate | [1],[3] | 10.28% | ||
Acquisition Date | [3] | Mar. 02, 2020 | ||
Maturity Date | [3] | Feb. 28, 2025 | ||
Par Amount | [3] | $ 18,012 | ||
Cost | [3] | 18,387 | ||
Fair Value | [3] | $ 18,463 | ||
Neuronetics, Inc. [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Life Science Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Health Care Equipment & Supplies | |||
Spread Above Index | [5] | L+765 | ||
Floor | 1.66% | |||
Interest Rate | [6] | 9.31% | ||
Acquisition Date | Mar. 02, 2020 | |||
Maturity Date | Feb. 28, 2025 | |||
Par Amount | $ 15,613 | |||
Cost | 15,874 | |||
Fair Value | $ 15,878 | |||
OmniGuide Holdings, Inc. [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Life Science Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [18] | Health Care Equipment & Supplies | ||
Spread Above Index | [4],[18] | L+1405 | ||
Floor | 0.10% | |||
Interest Rate | [1],[18] | 16.68% | ||
Acquisition Date | [18] | Jul. 30, 2018 | ||
Maturity Date | [18] | Jul. 01, 2023 | ||
Par Amount | [18] | $ 18,879 | ||
Cost | [18] | 18,413 | ||
Fair Value | [18] | $ 19,314 | ||
OmniGuide Holdings, Inc. [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Life Science Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [18] | Health Care Equipment & Supplies | ||
Spread Above Index | [5],[18] | L+1405 | ||
Floor | [18] | 0.10% | ||
Interest Rate | [6],[18] | 14.15% | ||
Acquisition Date | [18] | Jul. 30, 2018 | ||
Maturity Date | [18] | Jul. 01, 2023 | ||
Par Amount | [18] | $ 18,879 | ||
Cost | [18] | 17,845 | ||
Fair Value | [18] | $ 18,958 | ||
Rezolute, Inc [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Life Science Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Biotechnology | |||
Spread Above Index | [5] | L+875 | ||
Floor | 0.12% | |||
Interest Rate | [6] | 8.87% | ||
Acquisition Date | Apr. 14, 2021 | |||
Maturity Date | Apr. 01, 2026 | |||
Par Amount | $ 5,675 | |||
Cost | 5,663 | |||
Fair Value | $ 5,661 | |||
Rubius Therapeutics, Inc. [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Life Science Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [3] | Pharmaceuticals | ||
Spread Above Index | [3],[4] | L+550 | ||
Floor | [3] | 2.10% | ||
Interest Rate | [1],[3] | 8.13% | ||
Acquisition Date | [3] | Dec. 21, 2018 | ||
Maturity Date | [3] | Jun. 01, 2026 | ||
Par Amount | [3] | $ 46,473 | ||
Cost | [3] | 47,552 | ||
Fair Value | [3] | $ 46,783 | ||
Rubius Therapeutics, Inc. [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Life Science Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [10] | Pharmaceuticals | ||
Spread Above Index | [5],[10] | L+550 | ||
Floor | [10] | 2.10% | ||
Interest Rate | [6],[10] | 7.60% | ||
Acquisition Date | [10] | Dec. 21, 2018 | ||
Maturity Date | [10] | Jun. 01, 2026 | ||
Par Amount | [10] | $ 40,291 | ||
Cost | [10] | 41,103 | ||
Fair Value | [10] | $ 41,097 | ||
scPharmaceuticals, Inc. [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Life Science Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [3] | Pharmaceuticals | ||
Spread Above Index | [3],[4] | L+795 | ||
Floor | [3] | 2.23% | ||
Interest Rate | [1],[3] | 10.58% | ||
Acquisition Date | [3] | Sep. 17, 2019 | ||
Maturity Date | [3] | Sep. 17, 2023 | ||
Par Amount | [3] | $ 2,701 | ||
Cost | [3] | 2,787 | ||
Fair Value | [3] | $ 2,848 | ||
scPharmaceuticals, Inc. [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Life Science Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Pharmaceuticals | |||
Spread Above Index | [5] | L+795 | ||
Floor | 2.23% | |||
Interest Rate | [6] | 10.18% | ||
Acquisition Date | Sep. 17, 2019 | |||
Maturity Date | Sep. 17, 2023 | |||
Par Amount | $ 4,098 | |||
Cost | 4,165 | |||
Fair Value | $ 4,160 | |||
SOC Telemed, Inc. [Member] | Senior Secured Loans 0 111.5% [Member] | First Lien Life Science Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Health Care Providers & Services | |||
Spread Above Index | [5] | L+747 | ||
Floor | 0.13% | |||
Interest Rate | [6] | 7.60% | ||
Acquisition Date | Mar. 26, 2021 | |||
Maturity Date | Apr. 01, 2026 | |||
Par Amount | $ 31,137 | |||
Cost | 31,211 | |||
Fair Value | $ 31,214 | |||
Vapotherm, Inc. [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Life Science Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Health Care Equipment & Supplies | |||
Spread Above Index | [4] | S+830 | ||
Floor | 1% | |||
Interest Rate | [1] | 10.93% | ||
Acquisition Date | Feb. 18, 2022 | |||
Maturity Date | Feb. 01, 2027 | |||
Par Amount | $ 34,455 | |||
Cost | 34,104 | |||
Fair Value | $ 34,455 | |||
Aero Operating LLC [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Commercial Services & Supplies | ||
Acquisition Date | [19] | Feb. 12, 2021 | ||
Par Amount | [19] | $ 3,103 | ||
Cost | [19] | 3,100 | ||
Fair Value | [19] | $ 3,100 | ||
Aero Operating LLC [Member] | Equipment Financing 0 32.5% [Member] | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[19] | 8.47% | ||
Maturity Date | [19] | Dec. 01, 2026 | ||
Aero Operating LLC [Member] | Equipment Financing 0 32.5% [Member] | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[19] | 9.64% | ||
Maturity Date | [19] | Mar. 01, 2025 | ||
Aero Operating LLC [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Commercial Services & Supplies | ||
Acquisition Date | [19] | Feb. 12, 2021 | ||
Par Amount | [19] | $ 2,392 | ||
Cost | [19] | 2,389 | ||
Fair Value | [19] | $ 2,389 | ||
Aero Operating LLC [Member] | Equipment Financing 0 23.7% | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [19] | 9.64% | ||
Maturity Date | [19] | Dec. 01, 2026 | ||
Aero Operating LLC [Member] | Equipment Financing 0 23.7% | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [19] | 8.47% | ||
Maturity Date | [19] | Mar. 01, 2025 | ||
Air Methods Corporation [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Airlines | ||
Acquisition Date | [19] | Nov. 03, 2021 | ||
Par Amount | [19] | $ 4,063 | ||
Cost | [19] | 4,145 | ||
Fair Value | [19] | $ 4,063 | ||
Air Methods Corporation [Member] | Equipment Financing 0 32.5% [Member] | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[19] | 7.08% | ||
Maturity Date | [19] | Nov. 23, 2026 | ||
Air Methods Corporation [Member] | Equipment Financing 0 32.5% [Member] | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[19] | 7.13% | ||
Maturity Date | [19] | Nov. 03, 2026 | ||
Air Methods Corporation [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Airlines | ||
Acquisition Date | [19] | Nov. 03, 2021 | ||
Par Amount | [19] | $ 3,719 | ||
Cost | [19] | 3,784 | ||
Fair Value | [19] | $ 3,719 | ||
Air Methods Corporation [Member] | Equipment Financing 0 23.7% | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [19] | 7.13% | ||
Maturity Date | [19] | Nov. 23, 2026 | ||
Air Methods Corporation [Member] | Equipment Financing 0 23.7% | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [19] | 7.08% | ||
Maturity Date | [19] | Nov. 03, 2026 | ||
AmeraMex International, Inc. [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Commercial Services & Supplies | ||
Interest Rate | [6],[19] | 10% | ||
Acquisition Date | [19] | Mar. 29, 2019 | ||
Maturity Date | [19] | Mar. 28, 2022 | ||
Par Amount | [19] | $ 3,149 | ||
Cost | [19] | 3,148 | ||
Fair Value | [19] | $ 3,180 | ||
AmeraMex International, Inc. [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Commercial Services & Supplies | ||
Interest Rate | [19] | 10% | ||
Acquisition Date | [19] | Mar. 29, 2019 | ||
Maturity Date | [19] | Apr. 15, 2025 | ||
Par Amount | [19] | $ 1,551 | ||
Cost | [19] | 1,551 | ||
Fair Value | [19] | $ 1,566 | ||
Blackhawk Mining, LLC [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Oil, Gas & Consumable Fuels | ||
Acquisition Date | [19] | Feb. 16, 2018 | ||
Par Amount | [19] | $ 1,642 | ||
Cost | [19] | 1,615 | ||
Fair Value | [19] | $ 1,636 | ||
Blackhawk Mining, LLC [Member] | Equipment Financing 0 32.5% [Member] | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[19] | 10.97% | ||
Maturity Date | [19] | Nov. 01, 2022 | ||
Blackhawk Mining, LLC [Member] | Equipment Financing 0 32.5% [Member] | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[19] | 11.16% | ||
Maturity Date | [19] | Mar. 01, 2022 | ||
Blackhawk Mining, LLC [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Oil, Gas & Consumable Fuels | ||
Interest Rate | [19] | 11.17% | ||
Acquisition Date | [19] | Feb. 16, 2018 | ||
Maturity Date | [19] | Nov. 01, 2022 | ||
Par Amount | [19] | $ 409 | ||
Cost | [19] | 409 | ||
Fair Value | [19] | $ 409 | ||
Boart Longyear Company [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Metals & Mining | ||
Acquisition Date | [19] | May 28, 2020 | ||
Par Amount | [19] | $ 5,374 | ||
Cost | [19] | 5,374 | ||
Fair Value | [19] | $ 5,374 | ||
Boart Longyear Company [Member] | Equipment Financing 0 32.5% [Member] | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[19] | 10.44% | ||
Maturity Date | [19] | Jan. 01, 2026 | ||
Boart Longyear Company [Member] | Equipment Financing 0 32.5% [Member] | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[19] | 9.06% | ||
Maturity Date | [19] | Jul. 01, 2024 | ||
Boart Longyear Company [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Metals & Mining | ||
Acquisition Date | [19] | May 28, 2020 | ||
Par Amount | [19] | $ 4,231 | ||
Cost | [19] | 4,231 | ||
Fair Value | [19] | $ 4,231 | ||
Boart Longyear Company [Member] | Equipment Financing 0 23.7% | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [19] | 10.44% | ||
Maturity Date | [19] | Jan. 01, 2026 | ||
Boart Longyear Company [Member] | Equipment Financing 0 23.7% | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [19] | 9.06% | ||
Maturity Date | [19] | Jul. 01, 2024 | ||
Capital City Jet Center, Inc. [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Airlines | ||
Interest Rate | [6],[19] | 10% | ||
Acquisition Date | [19] | Apr. 04, 2018 | ||
Par Amount | [19] | $ 3,102 | ||
Cost | [19] | 3,102 | ||
Fair Value | [19] | $ 3,053 | ||
Capital City Jet Center, Inc. [Member] | Equipment Financing 0 32.5% [Member] | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Maturity Date | [19] | Jun. 22, 2026 | ||
Capital City Jet Center, Inc. [Member] | Equipment Financing 0 32.5% [Member] | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Maturity Date | [19] | Oct. 04, 2023 | ||
Capital City Jet Center, Inc. [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Airlines | ||
Interest Rate | [19] | 10% | ||
Acquisition Date | [19] | Apr. 04, 2018 | ||
Par Amount | [19] | $ 2,464 | ||
Cost | [19] | 2,464 | ||
Fair Value | [19] | $ 2,432 | ||
Capital City Jet Center, Inc. [Member] | Equipment Financing 0 23.7% | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Maturity Date | [19] | Jun. 22, 2026 | ||
Capital City Jet Center, Inc. [Member] | Equipment Financing 0 23.7% | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Maturity Date | [19] | Oct. 04, 2023 | ||
Champion Air, LLC [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Airlines | ||
Interest Rate | [6],[19] | 10% | ||
Acquisition Date | [19] | Mar. 19, 2018 | ||
Maturity Date | [19] | Jan. 01, 2023 | ||
Par Amount | [19] | $ 1,685 | ||
Cost | [19] | 1,685 | ||
Fair Value | [19] | $ 1,685 | ||
Champion Air, LLC [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Airlines | ||
Interest Rate | [19] | 10% | ||
Acquisition Date | [19] | Mar. 19, 2018 | ||
Maturity Date | [19] | Jan. 01, 2023 | ||
Par Amount | [19] | $ 1,219 | ||
Cost | [19] | 1,219 | ||
Fair Value | [19] | $ 1,219 | ||
Clubcorp Holdings, Inc. [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Hotels, Restaurants & Leisure | ||
Acquisition Date | [19] | May 27, 2021 | ||
Par Amount | [19] | $ 4,326 | ||
Cost | [19] | 4,326 | ||
Fair Value | [19] | $ 4,326 | ||
Clubcorp Holdings, Inc. [Member] | Equipment Financing 0 32.5% [Member] | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[19] | 8.87% | ||
Maturity Date | [19] | Jan. 01, 2027 | ||
Clubcorp Holdings, Inc. [Member] | Equipment Financing 0 32.5% [Member] | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[19] | 9.41% | ||
Maturity Date | [19] | Jun. 01, 2025 | ||
Clubcorp Holdings, Inc. [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Hotels, Restaurants & Leisure | ||
Acquisition Date | [19] | May 27, 2021 | ||
Par Amount | [19] | $ 6,027 | ||
Cost | [19] | 6,027 | ||
Fair Value | [19] | $ 6,027 | ||
Clubcorp Holdings, Inc. [Member] | Equipment Financing 0 23.7% | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [19] | 13.01% | ||
Maturity Date | [19] | Oct. 01, 2027 | ||
Clubcorp Holdings, Inc. [Member] | Equipment Financing 0 23.7% | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [19] | 9.36% | ||
Maturity Date | [19] | Apr. 01, 2025 | ||
Dongwon Autopart Technology Inc. [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Auto Components | ||
Interest Rate | [6],[19] | 7.96% | ||
Acquisition Date | [19] | Feb. 02, 2021 | ||
Maturity Date | [19] | Jan. 01, 2026 | ||
Par Amount | [19] | $ 2,347 | ||
Cost | [19] | 2,382 | ||
Fair Value | [19] | $ 2,347 | ||
Dongwon Autopart Technology Inc. [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Auto Components | ||
Interest Rate | [19] | 7.96% | ||
Acquisition Date | [19] | Feb. 02, 2021 | ||
Maturity Date | [19] | Jan. 01, 2026 | ||
Par Amount | [19] | $ 1,962 | ||
Cost | [19] | 1,986 | ||
Fair Value | [19] | $ 1,962 | ||
EasyPak, LLC [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Containers & Packaging | ||
Interest Rate | [6],[19] | 9.01% | ||
Acquisition Date | [19] | Jan. 06, 2021 | ||
Maturity Date | [19] | Jan. 01, 2024 | ||
Par Amount | [19] | $ 616 | ||
Cost | [19] | 616 | ||
Fair Value | [19] | $ 616 | ||
EasyPak, LLC [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Containers & Packaging | ||
Interest Rate | [19] | 9.01% | ||
Acquisition Date | [19] | Jan. 06, 2021 | ||
Maturity Date | [19] | Jan. 01, 2024 | ||
Par Amount | [19] | $ 364 | ||
Cost | [19] | 364 | ||
Fair Value | [19] | $ 364 | ||
Environmental Protection & Improvement Company, LLC [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Road & Rail | ||
Interest Rate | [6],[19] | 8.25% | ||
Acquisition Date | [19] | Sep. 30, 2020 | ||
Maturity Date | [19] | Oct. 01, 2027 | ||
Par Amount | [19] | $ 5,921 | ||
Cost | [19] | 5,959 | ||
Fair Value | [19] | $ 5,921 | ||
Environmental Protection & Improvement Company, LLC [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Road & Rail | ||
Interest Rate | [19] | 8.25% | ||
Acquisition Date | [19] | Sep. 30, 2020 | ||
Maturity Date | [19] | Oct. 01, 2027 | ||
Par Amount | [19] | $ 5,438 | ||
Cost | [19] | 5,469 | ||
Fair Value | [19] | $ 5,438 | ||
Equipment Operating Leases, LLC [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [12],[20] | Multi-Sector Holdings | ||
Equipment Operating Leases, LLC [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Acquisition Date | [12],[20] | Apr. 27, 2018 | ||
Par Amount | [12],[20] | $ 19,671 | ||
Cost | [12],[20] | 19,671 | ||
Fair Value | [12],[20] | $ 18,939 | ||
Equipment Operating Leases, LLC [Member] | Equipment Financing 0 32.5% [Member] | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[12],[20] | 7.53% | ||
Maturity Date | [12],[20] | Apr. 27, 2025 | ||
Equipment Operating Leases, LLC [Member] | Equipment Financing 0 32.5% [Member] | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[12],[20] | 8.37% | ||
Maturity Date | [12],[20] | Aug. 01, 2022 | ||
Equipment Operating Leases, LLC [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [11],[20] | Multi-Sector Holdings | ||
Interest Rate | [11],[20] | 8.37% | ||
Acquisition Date | [11],[20] | Apr. 27, 2018 | ||
Maturity Date | [11],[20] | Apr. 27, 2025 | ||
Par Amount | [11],[20] | $ 3,946 | ||
Cost | [11],[20] | 3,946 | ||
Fair Value | [11],[20] | $ 3,847 | ||
First American Commercial Bancorp, Inc. [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Diversified Financial Services | ||
Interest Rate | [6],[19] | 7.50% | ||
Acquisition Date | [19] | Oct. 28, 2021 | ||
Maturity Date | [19] | Nov. 01, 2026 | ||
Par Amount | [19] | $ 2,487 | ||
Cost | [19] | 2,492 | ||
Fair Value | [19] | $ 2,487 | ||
First American Commercial Bancorp, Inc. [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Diversified Financial Services | ||
Acquisition Date | [19] | Oct. 28, 2021 | ||
Par Amount | [19] | $ 3,094 | ||
Cost | [19] | 3,098 | ||
Fair Value | [19] | $ 3,094 | ||
First American Commercial Bancorp, Inc. [Member] | Equipment Financing 0 23.7% | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [19] | 9.02% | ||
Maturity Date | [19] | Apr. 01, 2027 | ||
First American Commercial Bancorp, Inc. [Member] | Equipment Financing 0 23.7% | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [19] | 7.50% | ||
Maturity Date | [19] | Nov. 01, 2026 | ||
First National Capital, LLC [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Diversified Financial Services | ||
Interest Rate | [6],[19] | 9% | ||
Acquisition Date | [19] | Nov. 05, 2021 | ||
Maturity Date | [19] | Aug. 01, 2026 | ||
Par Amount | [19] | $ 8,681 | ||
Cost | [19] | 8,681 | ||
Fair Value | [19] | $ 8,681 | ||
First National Capital, LLC [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Diversified Financial Services | ||
Interest Rate | [19] | 9% | ||
Acquisition Date | [19] | Nov. 05, 2021 | ||
Maturity Date | [19] | Aug. 01, 2026 | ||
Par Amount | [19] | $ 7,533 | ||
Cost | [19] | 7,533 | ||
Fair Value | [19] | $ 7,533 | ||
Freightsol LLC [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Road & Rail | ||
Acquisition Date | [19] | Apr. 09, 2019 | ||
Maturity Date | [19] | Nov. 01, 2023 | ||
Par Amount | [19] | $ 1,364 | ||
Cost | [19] | 1,381 | ||
Fair Value | [19] | $ 1,364 | ||
Freightsol LLC [Member] | Equipment Financing 0 32.5% [Member] | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[19] | 12.89% | ||
Freightsol LLC [Member] | Equipment Financing 0 32.5% [Member] | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[19] | 12.51% | ||
Freightsol LLC [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Road & Rail | ||
Acquisition Date | [19] | Apr. 09, 2019 | ||
Maturity Date | [19] | Nov. 01, 2023 | ||
Par Amount | [19] | $ 932 | ||
Cost | [19] | 940 | ||
Fair Value | [19] | $ 932 | ||
Freightsol LLC [Member] | Equipment Financing 0 23.7% | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [19] | 12.89% | ||
Freightsol LLC [Member] | Equipment Financing 0 23.7% | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [19] | 12.51% | ||
Garda CL Technical Services, Inc. [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Commercial Services & Supplies | ||
Acquisition Date | [19] | Mar. 22, 2018 | ||
Par Amount | [19] | $ 1,245 | ||
Cost | [19] | 1,245 | ||
Fair Value | [19] | $ 1,242 | ||
Garda CL Technical Services, Inc. [Member] | Equipment Financing 0 32.5% [Member] | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[19] | 8.77% | ||
Maturity Date | [19] | Oct. 05, 2023 | ||
Garda CL Technical Services, Inc. [Member] | Equipment Financing 0 32.5% [Member] | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[19] | 8.30% | ||
Maturity Date | [19] | Jun. 05, 2023 | ||
Garda CL Technical Services, Inc. [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Commercial Services & Supplies | ||
Acquisition Date | [19] | Mar. 22, 2018 | ||
Par Amount | [19] | $ 669 | ||
Cost | [19] | 669 | ||
Fair Value | [19] | $ 667 | ||
Garda CL Technical Services, Inc. [Member] | Equipment Financing 0 23.7% | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [19] | 8.77% | ||
Maturity Date | [19] | Oct. 05, 2023 | ||
Garda CL Technical Services, Inc. [Member] | Equipment Financing 0 23.7% | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [19] | 8.30% | ||
Maturity Date | [19] | Jun. 05, 2023 | ||
Georgia Jet, Inc. [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Airlines | ||
Interest Rate | [6],[19] | 8% | ||
Acquisition Date | [19] | Dec. 04, 2017 | ||
Maturity Date | [19] | Jan. 04, 2024 | ||
Par Amount | [19] | $ 795 | ||
Cost | [19] | 795 | ||
Fair Value | [19] | $ 795 | ||
Georgia Jet, Inc. [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Airlines | ||
Interest Rate | [19] | 8% | ||
Acquisition Date | [19] | Dec. 04, 2017 | ||
Maturity Date | [19] | Jan. 04, 2024 | ||
Par Amount | [19] | $ 520 | ||
Cost | [19] | 520 | ||
Fair Value | [19] | $ 520 | ||
GMT Corporation [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Machinery | ||
Interest Rate | [6],[19] | 10.71% | ||
Acquisition Date | [19] | Oct. 23, 2018 | ||
Maturity Date | [19] | Oct. 01, 2025 | ||
Par Amount | [19] | $ 5,476 | ||
Cost | [19] | 5,484 | ||
Fair Value | [19] | $ 5,476 | ||
GMT Corporation [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Machinery | ||
Interest Rate | [19] | 10.71% | ||
Acquisition Date | [19] | Oct. 23, 2018 | ||
Maturity Date | [19] | Jan. 01, 2026 | ||
Par Amount | [19] | $ 5,032 | ||
Cost | [19] | 5,038 | ||
Fair Value | [19] | $ 5,032 | ||
Haljoe Coaches USA, LLC [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Road & Rail | ||
Interest Rate | [6],[19] | 8.53% | ||
Acquisition Date | [19] | Jul. 31, 2017 | ||
Maturity Date | [19] | Jul. 01, 2024 | ||
Par Amount | [19] | $ 1,061 | ||
Cost | [19] | 1,061 | ||
Fair Value | [19] | $ 915 | ||
Hawkeye Contracting Company, LLC [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Construction & Engineering | ||
Interest Rate | [6],[19] | 10.50% | ||
Acquisition Date | [19] | Oct. 08, 2021 | ||
Maturity Date | [19] | Nov. 01, 2025 | ||
Par Amount | [19] | $ 1,252 | ||
Cost | [19] | 1,252 | ||
Fair Value | [19] | $ 1,252 | ||
Hawkeye Contracting Company, LLC [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Construction & Engineering | ||
Interest Rate | [19] | 10.50% | ||
Acquisition Date | [19] | Oct. 08, 2021 | ||
Maturity Date | [19] | Nov. 01, 2025 | ||
Par Amount | [19] | $ 1,069 | ||
Cost | [19] | 1,069 | ||
Fair Value | [19] | $ 1,069 | ||
HTI Logistics Corporation [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Commercial Services & Supplies | ||
Acquisition Date | [19] | Nov. 15, 2018 | ||
Par Amount | [19] | $ 414 | ||
Cost | [19] | 414 | ||
Fair Value | [19] | $ 404 | ||
HTI Logistics Corporation [Member] | Equipment Financing 0 32.5% [Member] | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[19] | 9.94% | ||
Maturity Date | [19] | Sep. 01, 2025 | ||
HTI Logistics Corporation [Member] | Equipment Financing 0 32.5% [Member] | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[19] | 9.69% | ||
Maturity Date | [19] | May 01, 2024 | ||
HTI Logistics Corporation [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Commercial Services & Supplies | ||
Acquisition Date | [19] | Nov. 15, 2018 | ||
Par Amount | [19] | $ 322 | ||
Cost | [19] | 322 | ||
Fair Value | [19] | $ 314 | ||
HTI Logistics Corporation [Member] | Equipment Financing 0 23.7% | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [19] | 9.94% | ||
Maturity Date | [19] | Sep. 01, 2025 | ||
HTI Logistics Corporation [Member] | Equipment Financing 0 23.7% | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [19] | 9.69% | ||
Maturity Date | [19] | May 01, 2024 | ||
International Automotive Components Group, North America, Inc. [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Auto Components | ||
Interest Rate | [6],[19] | 7.95% | ||
Acquisition Date | [19] | Jun. 23, 2021 | ||
Maturity Date | [19] | Jun. 23, 2025 | ||
Par Amount | [19] | $ 8,184 | ||
Cost | [19] | 8,250 | ||
Fair Value | [19] | $ 8,184 | ||
International Automotive Components Group, North America, Inc. [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Auto Components | ||
Interest Rate | [19] | 7.95% | ||
Acquisition Date | [19] | Jun. 23, 2021 | ||
Maturity Date | [19] | Jun. 23, 2025 | ||
Par Amount | [19] | $ 6,616 | ||
Cost | [19] | 6,659 | ||
Fair Value | [19] | $ 6,484 | ||
Kool Pak, LLC [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Road & Rail | ||
Interest Rate | [6],[19] | 8.58% | ||
Acquisition Date | [19] | Feb. 05, 2018 | ||
Maturity Date | [19] | Mar. 01, 2024 | ||
Par Amount | [19] | $ 345 | ||
Cost | [19] | 345 | ||
Fair Value | [19] | $ 345 | ||
Kool Pak, LLC [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Road & Rail | ||
Interest Rate | [19] | 8.58% | ||
Acquisition Date | [19] | Feb. 05, 2018 | ||
Maturity Date | [19] | Mar. 01, 2024 | ||
Par Amount | [19] | $ 233 | ||
Cost | [19] | 233 | ||
Fair Value | [19] | $ 233 | ||
Loyer Capital LLC [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [12],[20] | Multi-Sector Holdings | ||
Acquisition Date | [12],[20] | May 16, 2019 | ||
Par Amount | [12],[20] | $ 11,000 | ||
Cost | [12],[20] | 11,000 | ||
Fair Value | [12],[20] | $ 10,725 | ||
Loyer Capital LLC [Member] | Equipment Financing 0 32.5% [Member] | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [12],[20] | 11.52% | ||
Maturity Date | [12],[20] | Sep. 25, 2024 | ||
Loyer Capital LLC [Member] | Equipment Financing 0 32.5% [Member] | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [12],[20] | 8.73% | ||
Maturity Date | [12],[20] | May 16, 2024 | ||
Loyer Capital LLC [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [11],[20] | Multi-Sector Holdings | ||
Acquisition Date | [11],[20] | May 16, 2019 | ||
Par Amount | [11],[20] | $ 7,500 | ||
Cost | [11],[20] | 7,500 | ||
Fair Value | [11],[20] | $ 7,361 | ||
Loyer Capital LLC [Member] | Equipment Financing 0 23.7% | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [11],[20] | 11.52% | ||
Maturity Date | [11],[20] | Sep. 25, 2024 | ||
Loyer Capital LLC [Member] | Equipment Financing 0 23.7% | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [11],[20] | 8.73% | ||
Maturity Date | [11],[20] | May 16, 2024 | ||
Lux Credit Consultants, LLC [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Road & Rail | ||
Acquisition Date | [19] | Jun. 17, 2021 | ||
Par Amount | [19] | $ 9,343 | ||
Cost | [19] | 9,343 | ||
Fair Value | [19] | $ 9,343 | ||
Lux Credit Consultants, LLC [Member] | Equipment Financing 0 32.5% [Member] | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[19] | 9.65% | ||
Maturity Date | [19] | Dec. 01, 2025 | ||
Lux Credit Consultants, LLC [Member] | Equipment Financing 0 32.5% [Member] | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[19] | 8.28% | ||
Maturity Date | [19] | Dec. 01, 2024 | ||
Lux Credit Consultants, LLC [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Road & Rail | ||
Acquisition Date | [19] | Jun. 17, 2021 | ||
Par Amount | [19] | $ 15,930 | ||
Cost | [19] | 15,930 | ||
Fair Value | [19] | $ 15,930 | ||
Lux Credit Consultants, LLC [Member] | Equipment Financing 0 23.7% | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [19] | 11.12% | ||
Maturity Date | [19] | Oct. 01, 2026 | ||
Lux Credit Consultants, LLC [Member] | Equipment Financing 0 23.7% | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [19] | 8.28% | ||
Maturity Date | [19] | Dec. 01, 2024 | ||
Lux Vending, LLC [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Consumer Finance | ||
Acquisition Date | [19] | Aug. 20, 2021 | ||
Par Amount | [19] | $ 2,526 | ||
Cost | [19] | 2,583 | ||
Fair Value | [19] | $ 2,526 | ||
Lux Vending, LLC [Member] | Equipment Financing 0 32.5% [Member] | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[19] | 13.26% | ||
Maturity Date | [19] | Oct. 01, 2024 | ||
Lux Vending, LLC [Member] | Equipment Financing 0 32.5% [Member] | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[19] | 12.46% | ||
Maturity Date | [19] | Aug. 20, 2024 | ||
Lux Vending, LLC [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Consumer Finance | ||
Acquisition Date | [19] | Aug. 20, 2021 | ||
Par Amount | [19] | $ 1,870 | ||
Cost | [19] | 1,902 | ||
Fair Value | [19] | $ 1,870 | ||
Lux Vending, LLC [Member] | Equipment Financing 0 23.7% | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [19] | 13.26% | ||
Maturity Date | [19] | Oct. 01, 2024 | ||
Lux Vending, LLC [Member] | Equipment Financing 0 23.7% | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [19] | 12.46% | ||
Maturity Date | [19] | Aug. 20, 2024 | ||
Mountain Air Helicopters, Inc. [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Commercial Services & Supplies | ||
Interest Rate | [6],[19] | 10% | ||
Acquisition Date | [19] | Jul. 31, 2017 | ||
Maturity Date | [19] | Feb. 28, 2025 | ||
Par Amount | [19] | $ 479 | ||
Cost | [19] | 476 | ||
Fair Value | [19] | $ 479 | ||
Mountain Air Helicopters, Inc. [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Commercial Services & Supplies | ||
Interest Rate | [19] | 10% | ||
Acquisition Date | [19] | Jul. 31, 2017 | ||
Maturity Date | [19] | Feb. 28, 2025 | ||
Par Amount | [19] | $ 398 | ||
Cost | [19] | 396 | ||
Fair Value | [19] | $ 398 | ||
Rane Light Metal Castings Inc. [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Machinery | ||
Interest Rate | [6],[19] | 10% | ||
Acquisition Date | [19] | Jun. 01, 2020 | ||
Maturity Date | [19] | Jul. 01, 2024 | ||
Par Amount | [19] | $ 253 | ||
Cost | [19] | 253 | ||
Fair Value | [19] | $ 253 | ||
Rane Light Metal Castings Inc. [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Machinery | ||
Interest Rate | [19] | 10% | ||
Acquisition Date | [19] | Jun. 01, 2020 | ||
Maturity Date | [19] | Jul. 01, 2024 | ||
Par Amount | [19] | $ 184 | ||
Cost | [19] | 184 | ||
Fair Value | [19] | $ 184 | ||
Rango, Inc. [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Commercial Services & Supplies | ||
Acquisition Date | [19] | Sep. 24, 2019 | ||
Par Amount | [19] | $ 3,615 | ||
Cost | [19] | 3,656 | ||
Fair Value | [19] | $ 3,547 | ||
Rango, Inc. [Member] | Equipment Financing 0 32.5% [Member] | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[19] | 9.79% | ||
Maturity Date | [19] | Nov. 01, 2024 | ||
Rango, Inc. [Member] | Equipment Financing 0 32.5% [Member] | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[19] | 9.33% | ||
Maturity Date | [19] | Apr. 01, 2023 | ||
Rango, Inc. [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Commercial Services & Supplies | ||
Acquisition Date | [19] | Sep. 24, 2019 | ||
Par Amount | [19] | $ 2,374 | ||
Cost | [19] | 2,399 | ||
Fair Value | [19] | $ 2,329 | ||
Rango, Inc. [Member] | Equipment Financing 0 23.7% | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [19] | 9.79% | ||
Maturity Date | [19] | Nov. 01, 2024 | ||
Rango, Inc. [Member] | Equipment Financing 0 23.7% | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [19] | 9.33% | ||
Maturity Date | [19] | Apr. 01, 2023 | ||
Rossco Crane & Rigging, Inc. [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Commercial Services & Supplies | ||
Interest Rate | [6],[19] | 11.53% | ||
Acquisition Date | [19] | Aug. 25, 2017 | ||
Maturity Date | [19] | Sep. 01, 2022 | ||
Par Amount | [19] | $ 126 | ||
Cost | [19] | 126 | ||
Fair Value | [19] | $ 126 | ||
Royal Coach Lines, Inc.[Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Road & Rail | ||
Interest Rate | [6],[19] | 9.56% | ||
Acquisition Date | [19] | Nov. 21, 2019 | ||
Maturity Date | [19] | Aug. 01, 2025 | ||
Par Amount | [19] | $ 1,041 | ||
Cost | [19] | 1,041 | ||
Fair Value | [19] | $ 950 | ||
Royal Coach Lines, Inc.[Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Road & Rail | ||
Interest Rate | [19] | 9.56% | ||
Acquisition Date | [19] | Nov. 21, 2019 | ||
Maturity Date | [19] | Aug. 01, 2025 | ||
Par Amount | [19] | $ 913 | ||
Cost | [19] | 913 | ||
Fair Value | [19] | $ 833 | ||
Royal Express Inc. [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Road & Rail | ||
Interest Rate | [6],[19] | 9.53% | ||
Acquisition Date | [19] | Jan. 17, 2019 | ||
Maturity Date | [19] | Feb. 01, 2024 | ||
Par Amount | [19] | $ 683 | ||
Cost | [19] | 690 | ||
Fair Value | [19] | $ 683 | ||
Royal Express Inc. [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Road & Rail | ||
Interest Rate | [19] | 9.53% | ||
Acquisition Date | [19] | Jan. 17, 2019 | ||
Maturity Date | [19] | Feb. 01, 2024 | ||
Par Amount | [19] | $ 494 | ||
Cost | [19] | 497 | ||
Fair Value | [19] | $ 494 | ||
Sidelines Tree Service LLC [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Diversified Consumer Services | ||
Interest Rate | [6],[19] | 10.25% | ||
Acquisition Date | [19] | Jul. 31, 2017 | ||
Maturity Date | [19] | Oct. 01, 2022 | ||
Par Amount | [19] | $ 46 | ||
Cost | [19] | 46 | ||
Fair Value | [19] | $ 45 | ||
Sidelines Tree Service LLC [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Diversified Consumer Services | ||
Interest Rate | [19] | 10.25% | ||
Acquisition Date | [19] | Jul. 31, 2017 | ||
Maturity Date | [19] | Oct. 01, 2022 | ||
Par Amount | [19] | $ 19 | ||
Cost | [19] | 19 | ||
Fair Value | [19] | $ 19 | ||
SLR Equipment Finance [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [11] | Multi-Sector Holdings | ||
Interest Rate | [11] | 8.50% | ||
Acquisition Date | [11] | Jan. 24, 2022 | ||
Maturity Date | [19] | Jan. 24, 2023 | ||
Par Amount | [11] | $ 5,000 | ||
Cost | [11] | 5,000 | ||
Fair Value | [11] | $ 5,000 | ||
South Texas Oilfield Solutions, LLC [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Energy Equipment & Services | ||
Acquisition Date | [19] | Mar. 29, 2018 | ||
Par Amount | [19] | $ 1,363 | ||
Cost | [19] | 1,363 | ||
Fair Value | [19] | $ 1,338 | ||
South Texas Oilfield Solutions, LLC [Member] | Equipment Financing 0 32.5% [Member] | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[19] | 13.76% | ||
Maturity Date | [19] | Jul. 01, 2023 | ||
South Texas Oilfield Solutions, LLC [Member] | Equipment Financing 0 32.5% [Member] | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[19] | 12.52% | ||
Maturity Date | [19] | Sep. 01, 2022 | ||
ST Coaches, LLC [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Road & Rail | ||
Acquisition Date | [19] | Jul. 31, 2017 | ||
Par Amount | [19] | $ 1,951 | ||
Cost | [19] | 1,951 | ||
Fair Value | [19] | $ 1,839 | ||
ST Coaches, LLC [Member] | Equipment Financing 0 32.5% [Member] | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[19] | 8.58% | ||
Maturity Date | [19] | Jan. 25, 2025 | ||
ST Coaches, LLC [Member] | Equipment Financing 0 32.5% [Member] | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[19] | 8.22% | ||
Maturity Date | [19] | Oct. 01, 2022 | ||
ST Coaches, LLC [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Road & Rail | ||
Acquisition Date | [19] | Jul. 31, 2017 | ||
Par Amount | [19] | $ 1,810 | ||
Cost | [19] | 1,810 | ||
Fair Value | [19] | $ 1,729 | ||
ST Coaches, LLC [Member] | Equipment Financing 0 23.7% | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [19] | 8.58% | ||
Maturity Date | [19] | Jan. 25, 2025 | ||
ST Coaches, LLC [Member] | Equipment Financing 0 23.7% | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [19] | 8.22% | ||
Maturity Date | [19] | Oct. 01, 2022 | ||
Stafford Logistics, Inc. [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Commercial Services & Supplies | ||
Interest Rate | [6],[19] | 12.62% | ||
Acquisition Date | [19] | Sep. 11, 2019 | ||
Maturity Date | [19] | Feb. 15, 2026 | ||
Par Amount | [19] | $ 7,094 | ||
Cost | [19] | 7,094 | ||
Fair Value | [19] | $ 7,094 | ||
Star Coaches Inc. [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Road & Rail | ||
Interest Rate | [6],[19] | 8.42% | ||
Acquisition Date | [19] | Mar. 09, 2018 | ||
Maturity Date | [19] | Apr. 01, 2025 | ||
Par Amount | [19] | $ 3,401 | ||
Cost | [19] | 3,401 | ||
Fair Value | [19] | $ 2,916 | ||
Star Coaches Inc. [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Road & Rail | ||
Interest Rate | [19] | 8.42% | ||
Acquisition Date | [19] | Mar. 09, 2018 | ||
Maturity Date | [19] | Apr. 01, 2025 | ||
Par Amount | [19] | $ 3,019 | ||
Cost | [19] | 3,019 | ||
Fair Value | [19] | $ 2,710 | ||
Sturgeon Services International Inc.[Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Energy Equipment & Services | ||
Interest Rate | [6],[19] | 18.38% | ||
Acquisition Date | [19] | Jul. 31, 2017 | ||
Maturity Date | [19] | Feb. 28, 2022 | ||
Par Amount | [19] | $ 132 | ||
Cost | [19] | 132 | ||
Fair Value | [19] | $ 125 | ||
Superior Transportation, Inc. [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Road & Rail | ||
Acquisition Date | [19] | Jul. 31, 2017 | ||
Maturity Date | [19] | Jan. 01, 2026 | ||
Par Amount | [19] | $ 4,578 | ||
Cost | [19] | 4,578 | ||
Fair Value | [19] | $ 4,578 | ||
Superior Transportation, Inc. [Member] | Equipment Financing 0 32.5% [Member] | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[19] | 10.62% | ||
Superior Transportation, Inc. [Member] | Equipment Financing 0 32.5% [Member] | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[19] | 10.22% | ||
Superior Transportation, Inc. [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Road & Rail | ||
Acquisition Date | [19] | Jul. 31, 2017 | ||
Maturity Date | [19] | Jan. 01, 2026 | ||
Par Amount | [19] | $ 3,814 | ||
Cost | [19] | 3,814 | ||
Fair Value | [19] | $ 3,814 | ||
Superior Transportation, Inc. [Member] | Equipment Financing 0 23.7% | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [19] | 10.63% | ||
Superior Transportation, Inc. [Member] | Equipment Financing 0 23.7% | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [19] | 10.22% | ||
Tailwinds, LLC [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Air Freight & Logistics | ||
Acquisition Date | [19] | Jul. 26, 2019 | ||
Par Amount | [19] | $ 2,267 | ||
Cost | [19] | 2,267 | ||
Fair Value | [19] | $ 2,267 | ||
Tailwinds, LLC [Member] | Equipment Financing 0 32.5% [Member] | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[19] | 9% | ||
Maturity Date | [19] | Oct. 16, 2025 | ||
Tailwinds, LLC [Member] | Equipment Financing 0 32.5% [Member] | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[19] | 8.50% | ||
Maturity Date | [19] | Aug. 01, 2024 | ||
The Smedley Company & Smedley Services, Inc. [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Commercial Services & Supplies | ||
Acquisition Date | [19] | Jul. 31, 2017 | ||
Par Amount | [19] | $ 3,798 | ||
Cost | [19] | 3,800 | ||
Fair Value | [19] | $ 3,536 | ||
The Smedley Company & Smedley Services, Inc. [Member] | Equipment Financing 0 32.5% [Member] | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[19] | 15.36% | ||
Maturity Date | [19] | Feb. 10, 2024 | ||
The Smedley Company & Smedley Services, Inc. [Member] | Equipment Financing 0 32.5% [Member] | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[19] | 10.21% | ||
Maturity Date | [19] | Oct. 29, 2023 | ||
The Smedley Company & Smedley Services, Inc. [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Commercial Services & Supplies | ||
Interest Rate | [19] | 4.07% | ||
Acquisition Date | [19] | Jul. 31, 2017 | ||
Maturity Date | [19] | Jan. 01, 2028 | ||
Par Amount | [19] | $ 2,706 | ||
Cost | [19] | 2,706 | ||
Fair Value | [19] | $ 2,706 | ||
Trinity Equipment Rentals, Inc. [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Commercial Services & Supplies | ||
Acquisition Date | [19] | Oct. 08, 2021 | ||
Par Amount | [19] | $ 777 | ||
Cost | [19] | 777 | ||
Fair Value | [19] | $ 777 | ||
Trinity Equipment Rentals, Inc. [Member] | Equipment Financing 0 32.5% [Member] | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[19] | 8.75% | ||
Maturity Date | [19] | Dec. 01, 2026 | ||
Trinity Equipment Rentals, Inc. [Member] | Equipment Financing 0 32.5% [Member] | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[19] | 7.94% | ||
Maturity Date | [19] | Nov. 01, 2024 | ||
Trinity Equipment Rentals, Inc. [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Commercial Services & Supplies | ||
Acquisition Date | [19] | Oct. 08, 2021 | ||
Par Amount | [19] | $ 628 | ||
Cost | [19] | 628 | ||
Fair Value | [19] | $ 628 | ||
Trinity Equipment Rentals, Inc. [Member] | Equipment Financing 0 23.7% | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [19] | 8.75% | ||
Maturity Date | [19] | Dec. 01, 2026 | ||
Trinity Equipment Rentals, Inc. [Member] | Equipment Financing 0 23.7% | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [19] | 7.94% | ||
Maturity Date | [19] | Nov. 01, 2024 | ||
Trolleys, Inc. [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Road & Rail | ||
Interest Rate | [6],[19] | 9.99% | ||
Acquisition Date | [19] | Jul. 18, 2018 | ||
Maturity Date | [19] | Aug. 01, 2022 | ||
Par Amount | [19] | $ 1,573 | ||
Cost | [19] | 1,573 | ||
Fair Value | [19] | $ 1,540 | ||
Up Trucking Services, LLC [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Road & Rail | ||
Interest Rate | [6],[19] | 11.21% | ||
Acquisition Date | [19] | Mar. 23, 2018 | ||
Maturity Date | [19] | Aug. 01, 2024 | ||
Par Amount | [19] | $ 696 | ||
Cost | [19] | 705 | ||
Fair Value | [19] | $ 696 | ||
Up Trucking Services, LLC [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Road & Rail | ||
Interest Rate | [19] | 11.21% | ||
Acquisition Date | [19] | Mar. 23, 2018 | ||
Maturity Date | [19] | Aug. 01, 2024 | ||
Par Amount | [19] | $ 510 | ||
Cost | [19] | 515 | ||
Fair Value | [19] | $ 510 | ||
Warrior Crane Services, LLC [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Commercial Services & Supplies | ||
Interest Rate | [6],[19] | 8.95% | ||
Acquisition Date | [19] | Jul. 11, 2019 | ||
Par Amount | [19] | $ 2,567 | ||
Cost | [19] | 2,567 | ||
Fair Value | [19] | $ 2,518 | ||
Warrior Crane Services, LLC [Member] | Equipment Financing 0 32.5% [Member] | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Maturity Date | [19] | Aug. 01, 2026 | ||
Warrior Crane Services, LLC [Member] | Equipment Financing 0 32.5% [Member] | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Maturity Date | [19] | Aug. 01, 2024 | ||
Warrior Crane Services, LLC [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Commercial Services & Supplies | ||
Interest Rate | [19] | 8.95% | ||
Acquisition Date | [19] | Jul. 11, 2019 | ||
Par Amount | [19] | $ 2,144 | ||
Cost | [19] | 2,144 | ||
Fair Value | [19] | $ 2,104 | ||
Warrior Crane Services, LLC [Member] | Equipment Financing 0 23.7% | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Maturity Date | [19] | Aug. 01, 2026 | ||
Warrior Crane Services, LLC [Member] | Equipment Financing 0 23.7% | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Maturity Date | [19] | Aug. 01, 2024 | ||
Wind River Environmental, LLC [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Diversified Consumer Services | ||
Acquisition Date | [19] | Jul. 31, 2019 | ||
Par Amount | [19] | $ 870 | ||
Cost | [19] | 873 | ||
Fair Value | [19] | $ 870 | ||
Wind River Environmental, LLC [Member] | Equipment Financing 0 32.5% [Member] | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[19] | 10% | ||
Maturity Date | [19] | Oct. 05, 2025 | ||
Wind River Environmental, LLC [Member] | Equipment Financing 0 32.5% [Member] | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [6],[19] | 8.43% | ||
Maturity Date | [19] | Aug. 01, 2024 | ||
Wind River Environmental, LLC [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Diversified Consumer Services | ||
Acquisition Date | [19] | Jul. 31, 2019 | ||
Par Amount | [19] | $ 673 | ||
Cost | [19] | 675 | ||
Fair Value | [19] | $ 673 | ||
Wind River Environmental, LLC [Member] | Equipment Financing 0 23.7% | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [19] | 10% | ||
Maturity Date | [19] | Oct. 05, 2025 | ||
Wind River Environmental, LLC [Member] | Equipment Financing 0 23.7% | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [19] | 8.43% | ||
Maturity Date | [19] | Aug. 01, 2024 | ||
Womble Company, Inc. [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Energy Equipment & Services | ||
Interest Rate | [6],[19] | 9.11% | ||
Acquisition Date | [19] | Dec. 27, 2019 | ||
Maturity Date | [19] | Jan. 01, 2025 | ||
Par Amount | [19] | $ 547 | ||
Cost | [19] | 547 | ||
Fair Value | [19] | $ 537 | ||
Womble Company, Inc. [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Energy Equipment & Services | ||
Interest Rate | [19] | 9.11% | ||
Acquisition Date | [19] | Dec. 27, 2019 | ||
Maturity Date | [19] | Jan. 01, 2025 | ||
Par Amount | [19] | $ 428 | ||
Cost | [19] | 428 | ||
Fair Value | [19] | $ 411 | ||
SLR Equipment Finance Equity Interests [Member] | Equipment Financing 0 32.5% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [12],[17],[21] | Multi-Sector Holdings | ||
Acquisition Date | [12],[17],[21] | Jul. 31, 2017 | ||
Shares/Units | [12],[17],[21] | 200 | ||
Cost | [12],[17],[21] | $ 145,000 | ||
Fair Value | [12],[17],[21] | $ 129,102 | ||
SLR Equipment Finance Equity Interests [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [11],[17],[21],[22] | Multi-Sector Holdings | ||
Acquisition Date | [11],[21],[22] | Jul. 31, 2017 | ||
Shares/Units | [11],[21],[22] | 200 | ||
Cost | [11],[21],[22] | $ 145,000 | ||
Fair Value | [11],[21],[22] | $ 120,820 | ||
SOINT, LLC [Member] | Preferred Equity 3 0.4% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [9],[11],[23] | Aerospace & Defense | ||
Interest Rate | [9],[11],[23] | 5% | ||
Acquisition Date | [9],[11],[23] | Jun. 08, 2012 | ||
Maturity Date | [9],[11],[23] | Jun. 30, 2023 | ||
Shares/Units | [9],[11],[23] | 52,536 | ||
Cost | [9],[11],[23] | $ 5,254 | ||
Fair Value | [9],[11],[23] | $ 4,176 | ||
SOINT, LLC [Member] | Preferred Equity 3 0.7% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [10],[12],[24] | Aerospace & Defense | ||
Interest Rate | [6],[10],[12],[14],[24] | 5% | ||
Acquisition Date | [10],[12],[24] | Jun. 08, 2012 | ||
Maturity Date | [10],[12],[24] | Jun. 30, 2023 | ||
Shares/Units | [10],[12],[24] | 56,030 | ||
Cost | [10],[12],[24] | $ 5,603 | ||
Fair Value | [10],[12],[24] | $ 4,509 | ||
SOAGG LLC [Member] | Preferred Equity 3 0.7% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Aerospace & Defense | |||
Interest Rate | 8% | |||
Acquisition Date | Dec. 14, 2010 | |||
Maturity Date | Jun. 30, 2023 | |||
Shares/Units | 446 | |||
Cost | $ 446 | |||
Fair Value | $ 1,121 | |||
aTyr Pharma, Inc. Warrants [Member] | Common Equity/Equity Interests/Warrants 0 53.6% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [17] | Pharmaceuticals | ||
Acquisition Date | [17] | Nov. 18, 2016 | ||
Shares/Units | [17] | 6,347 | ||
Cost | [17] | $ 106 | ||
Fair Value | [17] | $ 0 | ||
aTyr Pharma, Inc. Warrants [Member] | Common Equity/Equity Interests/Warrants 055.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [17] | Pharmaceuticals | ||
Acquisition Date | [17] | Nov. 18, 2016 | ||
Shares/Units | [17] | 6,347 | ||
Cost | [17] | $ 106 | ||
Fair Value | [17] | $ 0 | ||
CardioFocus, Inc. Warrants [Member] | Common Equity/Equity Interests/Warrants 0 53.6% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [17] | Health Care Equipment & Supplies | ||
Acquisition Date | [17] | Mar. 31, 2017 | ||
Shares/Units | [17] | 90 | ||
Cost | [17] | $ 51 | ||
Fair Value | [17] | $ 0 | ||
CardioFocus, Inc. Warrants [Member] | Common Equity/Equity Interests/Warrants 055.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [17] | Health Care Equipment & Supplies | ||
Acquisition Date | [17] | Mar. 31, 2017 | ||
Shares/Units | [17] | 90 | ||
Cost | [17] | $ 51 | ||
Fair Value | [17] | $ 0 | ||
Centrexion Therapeutics, Inc. Warrants [Member] | Common Equity/Equity Interests/Warrants 0 53.6% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [17] | Pharmaceuticals | ||
Acquisition Date | [17] | Jun. 28, 2019 | ||
Shares/Units | [17] | 289,102 | ||
Cost | [17] | $ 136 | ||
Fair Value | [17] | $ 65 | ||
Centrexion Therapeutics, Inc. Warrants [Member] | Common Equity/Equity Interests/Warrants 055.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [17] | Pharmaceuticals | ||
Acquisition Date | [17] | Jun. 28, 2019 | ||
Shares/Units | [17] | 289,102 | ||
Cost | [17] | $ 136 | ||
Fair Value | [17] | $ 92 | ||
Conventus Orthopaedics, Inc. Warrants [Member] | Common Equity/Equity Interests/Warrants 0 53.6% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [17] | Health Care Equipment & Supplies | ||
Acquisition Date | [17] | Jun. 15, 2016 | ||
Shares/Units | [17] | 157,500 | ||
Cost | [17] | $ 65 | ||
Fair Value | [17] | $ 0 | ||
Conventus Orthopaedics, Inc. Warrants [Member] | Common Equity/Equity Interests/Warrants 055.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [17] | Health Care Equipment & Supplies | ||
Acquisition Date | [17] | Jun. 15, 2016 | ||
Shares/Units | [17] | 157,500 | ||
Cost | [17] | $ 65 | ||
Fair Value | [17] | $ 0 | ||
Delphinus Medical Technologies, Inc. Warrants [Member] | Common Equity/Equity Interests/Warrants 0 53.6% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [17] | Health Care Equipment & Supplies | ||
Acquisition Date | [17] | Aug. 18, 2017 | ||
Shares/Units | [17] | 444,388 | ||
Cost | [17] | $ 74 | ||
Fair Value | [17] | $ 80 | ||
Delphinus Medical Technologies, Inc. Warrants [Member] | Common Equity/Equity Interests/Warrants 055.7% | ||||
Schedule of Investments [Line Items] | ||||
Acquisition Date | [17] | Aug. 18, 2017 | ||
Shares/Units | [17] | 444,388 | ||
Cost | [17] | $ 74 | ||
Fair Value | [17] | $ 108 | ||
Essence Group Holdings Corporation (Lumeris) Warrants [Member] | Common Equity/Equity Interests/Warrants 0 53.6% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [17] | Health Care Technology | ||
Acquisition Date | [17] | Mar. 22, 2017 | ||
Shares/Units | [17] | 208,000 | ||
Cost | [17] | $ 63 | ||
Fair Value | [17] | $ 258 | ||
Essence Group Holdings Corporation (Lumeris) Warrants [Member] | Common Equity/Equity Interests/Warrants 055.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [17] | Health Care Technology | ||
Acquisition Date | [17] | Mar. 22, 2017 | ||
Shares/Units | [17] | 260,000 | ||
Cost | [17] | $ 129 | ||
Fair Value | [17] | $ 377 | ||
KBH Topco LLC (Kingsbridge) [Member] | Common Equity/Equity Interests/Warrants 0 53.6% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [12],[25] | Multi-Sector Holdings | ||
Acquisition Date | [12],[25] | Nov. 03, 2020 | ||
Shares/Units | [12],[25] | 73,500,000 | ||
Cost | [12],[25] | $ 136,596 | ||
Fair Value | [12],[25] | $ 145,996 | ||
KBH Topco LLC (Kingsbridge) [Member] | Common Equity/Equity Interests/Warrants 055.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [11],[25],[26] | Multi-Sector Holdings | ||
Acquisition Date | [11],[25],[26] | Nov. 03, 2020 | ||
Shares/Units | [11],[25],[26] | 73,500,000 | ||
Cost | [11],[25],[26] | $ 136,596 | ||
Fair Value | [11],[25],[26] | $ 147,000 | ||
RD Holdco Inc. (Rug Doctor) [Member] | Common Equity/Equity Interests/Warrants 0 53.6% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [12],[17] | Diversified Consumer Services | ||
Acquisition Date | [12],[17] | Dec. 23, 2013 | ||
Shares/Units | [12],[17] | 231,177 | ||
Cost | [12],[17] | $ 15,683 | ||
Fair Value | [12],[17] | $ 0 | ||
RD Holdco Inc. (Rug Doctor) [Member] | Common Equity/Equity Interests/Warrants 055.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [11],[17] | Diversified Consumer Services | ||
Acquisition Date | [11],[17] | Dec. 23, 2013 | ||
Shares/Units | [11],[17] | 231,177 | ||
Cost | [11],[17] | $ 15,683 | ||
Fair Value | [11],[17] | $ 0 | ||
RD Holdco Inc. (Rug Doctor, class B) [Member] | Common Equity/Equity Interests/Warrants 0 53.6% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [12],[17] | Diversified Consumer Services | ||
Acquisition Date | [12],[17] | Dec. 23, 2013 | ||
Shares/Units | [12],[17] | 522 | ||
Cost | [12],[17] | $ 5,216 | ||
Fair Value | [12],[17] | $ 5,216 | ||
RD Holdco Inc. (Rug Doctor, class B) [Member] | Common Equity/Equity Interests/Warrants 055.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [11],[17] | Diversified Consumer Services | ||
Acquisition Date | [11],[17] | Dec. 23, 2013 | ||
Shares/Units | [11],[17] | 522 | ||
Cost | [11],[17] | $ 5,216 | ||
Fair Value | [11],[17] | $ 0 | ||
RD Holdco Inc. (Rug Doctor, Warrants) [Member] | Common Equity/Equity Interests/Warrants 0 53.6% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [12],[17] | Diversified Consumer Services | ||
Acquisition Date | [12],[17] | Dec. 23, 2013 | ||
Shares/Units | [12],[17] | 30,370 | ||
Cost | [12],[17] | $ 381 | ||
Fair Value | [12],[17] | $ 0 | ||
RD Holdco Inc. (Rug Doctor, Warrants) [Member] | Common Equity/Equity Interests/Warrants 055.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [11],[17] | Diversified Consumer Services | ||
Acquisition Date | [11],[17] | Dec. 23, 2013 | ||
Shares/Units | [11],[17] | 30,370 | ||
Cost | [11],[17] | $ 381 | ||
Fair Value | [11],[17] | $ 0 | ||
Senseonics Holdings, Inc. [Member] | Common Equity/Equity Interests/Warrants 0 53.6% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [10],[17],[27] | Health Care Equipment & Supplies | ||
Acquisition Date | [10],[17],[27] | Jul. 25, 2019 | ||
Shares/Units | [10],[17],[27] | 406,923 | ||
Cost | [10],[17],[27] | $ 117 | ||
Fair Value | [10],[17],[27] | $ 1,086 | ||
Senseonics Holdings, Inc. [Member] | Common Equity/Equity Interests/Warrants 055.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [9],[17],[27] | Health Care Equipment & Supplies | ||
Acquisition Date | [9],[11],[17],[27] | Jul. 25, 2019 | ||
Shares/Units | [9],[11],[17],[27] | 469,353 | ||
Cost | [9],[11],[17],[27] | $ 235 | ||
Fair Value | [9],[11],[17],[27] | $ 620 | ||
SLR Business Credit [Member] | Common Equity/Equity Interests/Warrants 055.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [9],[11],[28] | Diversified Financial Services | ||
Acquisition Date | [9],[11],[28] | Apr. 01, 2022 | ||
Shares/Units | [9],[11],[28] | 100 | ||
Cost | [9],[11],[28] | $ 81,583 | ||
Fair Value | [9],[11],[28] | $ 89,370 | ||
SLR Credit Solutions [Member] | Common Equity/Equity Interests/Warrants 0 53.6% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [10],[12] | Diversified Financial Services | ||
Acquisition Date | [10],[12] | Dec. 28, 2012 | ||
Shares/Units | [10],[12] | 280,303 | ||
Cost | [10],[12] | $ 280,737 | ||
Fair Value | [10],[12] | $ 298,766 | ||
SLR Credit Solutions [Member] | Common Equity/Equity Interests/Warrants 055.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [9],[11],[29] | Diversified Financial Services | ||
Acquisition Date | [9],[11],[29] | Dec. 28, 2012 | ||
Shares/Units | [9],[11],[29] | 280,303 | ||
Cost | [9],[11],[29] | $ 280,737 | ||
Fair Value | [9],[11],[29] | $ 288,760 | ||
SLR Healthcare ABL [Member] | Common Equity/Equity Interests/Warrants 055.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [9],[11],[30] | Diversified Financial Services | ||
Acquisition Date | [9],[11],[30] | Apr. 01, 2022 | ||
Shares/Units | [9],[11],[30] | 32,839 | ||
Cost | [9],[11],[30] | $ 34,335 | ||
Fair Value | [9],[11],[30] | $ 33,750 | ||
Spectrum Pharmaceuticals, Inc. Warrants [Member] | Common Equity/Equity Interests/Warrants 055.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [17] | Biotechnology | ||
Acquisition Date | [17] | Sep. 21, 2022 | ||
Shares/Units | [17] | 159,470 | ||
Cost | [17] | $ 50 | ||
Fair Value | [17] | $ 22 | ||
TwentyEighty Investors LLC [Member] | Common Equity/Equity Interests/Warrants 055.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [17] | Professional Services | ||
Acquisition Date | [17] | Apr. 01, 2022 | ||
Shares/Units | [17] | 17,214 | ||
Cost | [17] | $ 5 | ||
Fair Value | [17] | $ 5 | ||
Vapotherm, Inc. Warrants [Member] | Common Equity/Equity Interests/Warrants 055.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [9],[17] | Health Care Equipment & Supplies | ||
Acquisition Date | [9],[17] | Feb. 18, 2022 | ||
Shares/Units | [9],[17] | 36,996 | ||
Cost | [9],[17] | $ 210 | ||
Fair Value | [9],[17] | $ 25 | ||
Venus Concept Ltd. Warrants (f/k/a Restoration Robotics) [Member] | Common Equity/Equity Interests/Warrants 0 53.6% [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [17] | Health Care Equipment & Supplies | ||
Acquisition Date | [17] | May 10, 2018 | ||
Shares/Units | [17] | 27,352 | ||
Cost | [17] | $ 152 | ||
Fair Value | [17] | $ 0 | ||
Venus Concept Ltd. Warrants (f/k/a Restoration Robotics) [Member] | Common Equity/Equity Interests/Warrants 055.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [17] | Health Care Equipment & Supplies | ||
Acquisition Date | [17] | May 10, 2018 | ||
Shares/Units | [17] | 33,430 | ||
Cost | [17] | $ 152 | ||
Fair Value | [17] | $ 0 | ||
ENS Holdings III Corp. ES Opco USA LLC (Bluefin) [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [3] | Trading Companies & Distributors | ||
Spread Above Index | [3],[4] | L+475 | ||
Floor | [3] | 1% | ||
Interest Rate | [1],[3] | 8.42% | ||
Acquisition Date | [3] | Apr. 01, 2022 | ||
Maturity Date | [3] | Dec. 31, 2025 | ||
Par Amount | [3] | $ 6,232 | ||
Cost | [3] | 5,997 | ||
Fair Value | [3] | $ 6,232 | ||
Enverus Holdings Inc fka Drilling Info Holdings [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [3] | IT Services | ||
Spread Above Index | [3],[4] | L+450 | ||
Floor | [3] | 0% | ||
Interest Rate | [1],[3] | 7.62% | ||
Acquisition Date | [3] | Apr. 01, 2022 | ||
Maturity Date | [3] | Jul. 30, 2025 | ||
Par Amount | [3] | $ 11,627 | ||
Cost | [3] | 11,119 | ||
Fair Value | [3] | $ 11,627 | ||
Erie Construction Midwest LLC [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [3] | Building Products | ||
Spread Above Index | [3],[4] | L+475 | ||
Floor | [3] | 1% | ||
Interest Rate | [1],[3] | 7.56% | ||
Acquisition Date | [3] | Apr. 01, 2022 | ||
Maturity Date | [3] | Jul. 30, 2027 | ||
Par Amount | [3] | $ 9,029 | ||
Cost | [3] | 8,674 | ||
Fair Value | [3] | $ 9,029 | ||
GSM Acquisition Corp [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [3] | Leisure Equipment & Products | ||
Spread Above Index | [3],[4] | S+500 | ||
Floor | [3] | 1% | ||
Interest Rate | [1],[3] | 7.32% | ||
Acquisition Date | [3] | Apr. 01, 2022 | ||
Maturity Date | [3] | Nov. 16, 2026 | ||
Par Amount | [3] | $ 11,468 | ||
Cost | [3] | 10,977 | ||
Fair Value | [3] | $ 11,353 | ||
Higginbotham Insurance Agency Inc [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [3] | Insurance | ||
Spread Above Index | [3],[4] | L+525 | ||
Floor | [3] | 0.75% | ||
Interest Rate | [1],[3] | 8.37% | ||
Acquisition Date | [3] | Apr. 01, 2022 | ||
Maturity Date | [3] | Nov. 25, 2026 | ||
Par Amount | [3] | $ 6,239 | ||
Cost | [3] | 5,997 | ||
Fair Value | [3] | $ 6,239 | ||
High Street Buyer Inc [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [3] | Insurance | ||
Spread Above Index | [3],[4] | L+600 | ||
Floor | [3] | 0.75% | ||
Interest Rate | [1],[3] | 8.56% | ||
Acquisition Date | [3] | Apr. 01, 2022 | ||
Maturity Date | [3] | Apr. 16, 2028 | ||
Par Amount | [3] | $ 7,701 | ||
Cost | [3] | 7,257 | ||
Fair Value | [3] | $ 7,701 | ||
Human Interest Inc [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Internet Software & Services | |||
Spread Above Index | [4] | S+785 | ||
Floor | 1% | |||
Interest Rate | [1] | 10.36% | ||
Acquisition Date | Jun. 30, 2022 | |||
Maturity Date | Jul. 01, 2027 | |||
Par Amount | $ 20,104 | |||
Cost | 19,743 | |||
Fair Value | $ 19,702 | |||
Kaseya Inc [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Software | |||
Spread Above Index | [4] | S+575 | ||
Floor | 0.75% | |||
Interest Rate | [1] | 8.29% | ||
Acquisition Date | Jun. 22, 2022 | |||
Maturity Date | Jun. 23, 2029 | |||
Par Amount | $ 32,426 | |||
Cost | 31,953 | |||
Fair Value | $ 31,939 | |||
National Spine and Pain Centers LLC [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Health Care Providers & Services | |||
Spread Above Index | [4] | L+500 | ||
Floor | 1% | |||
Interest Rate | [1] | 7.31% | ||
Acquisition Date | Apr. 01, 2022 | |||
Maturity Date | Jun. 02, 2024 | |||
Par Amount | $ 2,486 | |||
Cost | 2,365 | |||
Fair Value | $ 2,362 | |||
OIS Management Services LLC [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Health Care Providers & Services | |||
Spread Above Index | [4] | S+575 | ||
Floor | 1% | |||
Interest Rate | [1] | 9.45% | ||
Acquisition Date | Apr. 11, 2022 | |||
Maturity Date | Jul. 09, 2026 | |||
Par Amount | $ 6,262 | |||
Cost | 6,161 | |||
Fair Value | $ 6,262 | |||
Peter C FoyAnd Associates Insurance Services LLC [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Insurance | |||
Spread Above Index | [4] | S+600 | ||
Floor | 0.75% | |||
Interest Rate | [1] | 8.96% | ||
Acquisition Date | Apr. 01, 2022 | |||
Maturity Date | Nov. 01, 2028 | |||
Par Amount | $ 10,006 | |||
Cost | 9,860 | |||
Fair Value | $ 10,006 | |||
Plastics Management LLC [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [3] | Health Care Providers & Services | ||
Spread Above Index | [3],[4] | S+500 | ||
Floor | [3] | 1% | ||
Interest Rate | [1],[3] | 8.13% | ||
Acquisition Date | [3] | Apr. 01, 2022 | ||
Maturity Date | [3] | Aug. 18, 2027 | ||
Par Amount | [3] | $ 9,515 | ||
Cost | [3] | 9,169 | ||
Fair Value | [3] | $ 9,420 | ||
RSC Acquisition Inc [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [3] | Insurance | ||
Spread Above Index | [3],[4] | S+550 | ||
Floor | [3] | 0.75% | ||
Interest Rate | [1],[3] | 7.76% | ||
Acquisition Date | [3] | Apr. 01, 2022 | ||
Maturity Date | [3] | Nov. 01, 2026 | ||
Par Amount | [3] | $ 5,946 | ||
Cost | [3] | 5,776 | ||
Fair Value | [3] | $ 5,946 | ||
RxSense Holdings LLC [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [3] | Diversified Consumer Services | ||
Spread Above Index | [3],[4] | L+500 | ||
Floor | [3] | 1% | ||
Interest Rate | [1],[3] | 8.12% | ||
Acquisition Date | [3] | Apr. 01, 2022 | ||
Maturity Date | [3] | Mar. 13, 2026 | ||
Par Amount | [3] | $ 11,775 | ||
Cost | [3] | 11,328 | ||
Fair Value | [3] | $ 11,775 | ||
SHO Holding I Corporation Shoes for Crews [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [3] | Footwear | ||
Spread Above Index | [3],[4] | L+523 | ||
Floor | [3] | 1% | ||
Interest Rate | [1],[3] | 8.04% | ||
Acquisition Date | [3] | Apr. 01, 2022 | ||
Maturity Date | [3] | Apr. 27, 2024 | ||
Par Amount | [3] | $ 5,719 | ||
Cost | [3] | 5,315 | ||
Fair Value | [3] | $ 5,434 | ||
Southern Orthodontic Partners Management LLC [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Health Care Providers & Services | |||
Spread Above Index | [4] | S+575 | ||
Floor | 1% | |||
Interest Rate | [1] | 9.19% | ||
Acquisition Date | Jun. 03, 2022 | |||
Maturity Date | Jan. 27, 2026 | |||
Par Amount | $ 1,028 | |||
Cost | 1,019 | |||
Fair Value | $ 1,028 | |||
TAUC Management LLC [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [3] | Health Care Providers & Services | ||
Spread Above Index | [3],[4] | L+525 | ||
Floor | [3] | 1% | ||
Interest Rate | [1],[3] | 8.16% | ||
Acquisition Date | [3] | Apr. 01, 2022 | ||
Maturity Date | [3] | Feb. 12, 2027 | ||
Par Amount | [3] | $ 6,908 | ||
Cost | [3] | 6,578 | ||
Fair Value | [3] | $ 6,874 | ||
Tilley Distribution Inc [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [3] | Trading Companies & Distributors | ||
Spread Above Index | [3],[4] | L+600 | ||
Floor | [3] | 1% | ||
Interest Rate | [1],[3] | 8.78% | ||
Acquisition Date | [3] | Apr. 01, 2022 | ||
Maturity Date | [3] | Dec. 31, 2026 | ||
Par Amount | [3] | $ 10,253 | ||
Cost | [3] | 9,758 | ||
Fair Value | [3] | $ 10,253 | ||
Vessco Midco Holdings LLC [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [3] | Water Utilities | ||
Spread Above Index | [3],[4] | L+450 | ||
Floor | [3] | 1% | ||
Interest Rate | [1],[3] | 7.34% | ||
Acquisition Date | [3] | Apr. 01, 2022 | ||
Maturity Date | [3] | Nov. 02, 2026 | ||
Par Amount | [3] | $ 1,523 | ||
Cost | [3] | 1,461 | ||
Fair Value | [3] | $ 1,508 | ||
World Insurance Associates LLC [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [3] | Insurance | ||
Spread Above Index | [3],[4] | L+575 | ||
Floor | [3] | 1% | ||
Interest Rate | [1],[3] | 8.33% | ||
Acquisition Date | [3] | Apr. 01, 2022 | ||
Maturity Date | [3] | Apr. 01, 2026 | ||
Par Amount | [3] | $ 23,188 | ||
Cost | [3] | 22,463 | ||
Fair Value | [3] | $ 23,188 | ||
Apeel Technology Inc [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Life Science Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Biotechnology | |||
Spread Above Index | [4] | S+625 | ||
Floor | 1% | |||
Interest Rate | [1] | 8.75% | ||
Acquisition Date | Jun. 29, 2022 | |||
Maturity Date | Jun. 01, 2027 | |||
Par Amount | $ 3,643 | |||
Cost | 3,613 | |||
Fair Value | $ 3,606 | |||
Smiley Lifting Solutions LLC [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Commercial Services & Supplies | ||
Acquisition Date | [19] | Jun. 30, 2022 | ||
Par Amount | [19] | $ 2,006 | ||
Cost | [19] | 2,006 | ||
Fair Value | [19] | $ 2,006 | ||
Smiley Lifting Solutions LLC [Member] | Equipment Financing 0 23.7% | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [19] | 7.95% | ||
Maturity Date | [19] | Jul. 01, 2029 | ||
Smiley Lifting Solutions LLC [Member] | Equipment Financing 0 23.7% | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [19] | 7.82% | ||
Maturity Date | [19] | Sep. 15, 2026 | ||
Apex Services Partners, LLC [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [3] | Diversified Consumer Services | ||
Spread Above Index | [3],[4] | S+525 | ||
Floor | [3] | 1% | ||
Interest Rate | [1],[3] | 8.30% | ||
Acquisition Date | [3] | Aug. 31, 2022 | ||
Maturity Date | [3] | Jul. 31, 2025 | ||
Par Amount | [3] | $ 14,021 | ||
Cost | [3] | 13,612 | ||
Fair Value | [3] | $ 13,601 | ||
Composite Technology Acquisition Corp. [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [3] | Building Products | ||
Spread Above Index | [3],[4] | L+500 | ||
Floor | [3] | 1% | ||
Interest Rate | [1],[3] | 6.50% | ||
Acquisition Date | [3] | Apr. 01, 2022 | ||
Maturity Date | [3] | Feb. 01, 2025 | ||
Par Amount | [3] | $ 10,759 | ||
Cost | [3] | 10,276 | ||
Fair Value | [3] | $ 10,759 | ||
Copper River Seafoods, Inc. [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Food Products | |||
Spread Above Index | [4] | P+275 | ||
Floor | 0% | |||
Interest Rate | [1] | 9% | ||
Acquisition Date | Aug. 31, 2022 | |||
Maturity Date | Apr. 23, 2025 | |||
Par Amount | $ 9,957 | |||
Cost | 9,957 | |||
Fair Value | $ 9,957 | |||
Luxury Asset Capital, LLC [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Thrifts & Mortgage Finance | |||
Spread Above Index | [4] | S+675 | ||
Floor | 1% | |||
Interest Rate | [1] | 9.38% | ||
Acquisition Date | Jul. 15, 2022 | |||
Maturity Date | Jul. 15, 2027 | |||
Par Amount | $ 27,500 | |||
Cost | 26,968 | |||
Fair Value | $ 27,500 | |||
Montefiore Nyack Hospital [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Health Care Providers & Services | |||
Spread Above Index | [4] | L+495 | ||
Floor | 0% | |||
Interest Rate | [1] | 8.05% | ||
Acquisition Date | Aug. 09, 2022 | |||
Maturity Date | Nov. 15, 2024 | |||
Par Amount | $ 5,000 | |||
Cost | 5,000 | |||
Fair Value | $ 5,000 | |||
Orthopedic Care Partners Management, LLC [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Health Care Providers & Services | |||
Spread Above Index | [4] | S+650 | ||
Floor | 1% | |||
Interest Rate | [1] | 9.36% | ||
Acquisition Date | Aug. 17, 2022 | |||
Maturity Date | May 16, 2024 | |||
Par Amount | $ 2,843 | |||
Cost | 2,823 | |||
Fair Value | $ 2,822 | |||
Pediatric Home Respiratory Services, LLC [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Health Care Providers & Services | |||
Spread Above Index | [4] | S+625 | ||
Floor | 1% | |||
Interest Rate | [1] | 9.43% | ||
Acquisition Date | Aug. 19, 2022 | |||
Maturity Date | Dec. 04, 2024 | |||
Par Amount | $ 754 | |||
Cost | 744 | |||
Fair Value | $ 743 | |||
SPAR Marketing Force, Inc. [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Media | |||
Spread Above Index | [4] | P+95 | ||
Floor | 0% | |||
Interest Rate | [1] | 7.20% | ||
Acquisition Date | Jul. 18, 2022 | |||
Maturity Date | Oct. 10, 2024 | |||
Par Amount | $ 9,787 | |||
Cost | 9,787 | |||
Fair Value | $ 9,787 | |||
Stryten Resources LLC [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Auto Parts & Equipment | |||
Spread Above Index | [4] | S+800 | ||
Floor | 1% | |||
Interest Rate | [1] | 11.15% | ||
Acquisition Date | Aug. 11, 2021 | |||
Maturity Date | Oct. 12, 2026 | |||
Par Amount | $ 25,988 | |||
Cost | 25,548 | |||
Fair Value | $ 25,988 | |||
BDG Media, Inc. [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | Media | |||
Spread Above Index | [4] | L+900 | ||
Floor | 0.25% | |||
Interest Rate | [1] | 11.29% | ||
Acquisition Date | Jul. 18, 2022 | |||
Maturity Date | Apr. 27, 2023 | |||
Par Amount | $ 9,427 | |||
Cost | 9,427 | |||
Fair Value | $ 9,427 | |||
RD Holdco, Inc. [Member] | Senior Secured Loans 0 134.4% [Member] | Second Lien Bank Debt/Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [7],[11] | Diversified Consumer Services | ||
Spread Above Index | [4],[7],[11],[14] | S+975 | ||
Floor | [7],[11] | 1.50% | ||
Interest Rate | [1],[7],[11] | 0% | ||
Acquisition Date | [7],[11] | Dec. 23, 2013 | ||
Maturity Date | [7],[11] | May 16, 2023 | ||
Par Amount | [7],[11] | $ 12,900 | ||
Cost | [7],[11] | 11,791 | ||
Fair Value | [7],[11] | $ 6,450 | ||
Spectrum Pharmaceuticals, Inc. [Member] | Senior Secured Loans 0 134.4% [Member] | First Lien Life Science Senior Secured Loans [Member] | ||||
Schedule of Investments [Line Items] | ||||
Industry | [3] | Biotechnology | ||
Spread Above Index | [3],[4] | S+570 | ||
Floor | [3] | 2.30% | ||
Interest Rate | [1],[3] | 8.72% | ||
Acquisition Date | [3] | Sep. 21, 2022 | ||
Maturity Date | [3] | Sep. 01, 2027 | ||
Par Amount | [3] | $ 10,525 | ||
Cost | [3] | 10,373 | ||
Fair Value | [3] | $ 10,420 | ||
AFG Dallas III, LLC [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Diversified Consumer Services | ||
Interest Rate | [19] | 10% | ||
Acquisition Date | [19] | Aug. 11, 2022 | ||
Par Amount | [19] | $ 1,093 | ||
Cost | [19] | 1,093 | ||
Fair Value | [19] | $ 1,093 | ||
AFG Dallas III, LLC [Member] | Equipment Financing 0 23.7% | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Maturity Date | [19] | Aug. 26, 2026 | ||
AFG Dallas III, LLC [Member] | Equipment Financing 0 23.7% | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Maturity Date | [19] | Aug. 11, 2026 | ||
Bowman Energy Solutions, LLC [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Commercial Services & Supplies | ||
Interest Rate | [19] | 7.42% | ||
Acquisition Date | [19] | Jul. 01, 2022 | ||
Maturity Date | [19] | Aug. 01, 2026 | ||
Par Amount | [19] | $ 162 | ||
Cost | [19] | 162 | ||
Fair Value | [19] | $ 162 | ||
Energy Drilling Services, LLC [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Diversified Consumer Services | ||
Interest Rate | [19] | 6.58% | ||
Acquisition Date | [19] | Aug. 26, 2022 | ||
Maturity Date | [19] | Sep. 01, 2027 | ||
Par Amount | [19] | $ 1,192 | ||
Cost | [19] | 1,192 | ||
Fair Value | [19] | $ 1,192 | ||
CKD Holdings, Inc. [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Road & Rail | ||
Acquisition Date | [19] | Sep. 22, 2022 | ||
Par Amount | [19] | $ 3,887 | ||
Cost | [19] | 3,887 | ||
Fair Value | [19] | $ 3,887 | ||
CKD Holdings, Inc. [Member] | Equipment Financing 0 23.7% | Maximum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [19] | 8.60% | ||
Maturity Date | [19] | Sep. 22, 2027 | ||
CKD Holdings, Inc. [Member] | Equipment Financing 0 23.7% | Minimum [Member] | ||||
Schedule of Investments [Line Items] | ||||
Interest Rate | [19] | 8.10% | ||
Maturity Date | [19] | Jun. 22, 2026 | ||
Worldwide Flight Services, Inc. [Member] | Equipment Financing 0 23.7% | ||||
Schedule of Investments [Line Items] | ||||
Industry | [19] | Transportation Infrastructure | ||
Interest Rate | [19] | 8.32% | ||
Acquisition Date | [19] | Sep. 23, 2022 | ||
Maturity Date | [19] | Sep. 23, 2027 | ||
Par Amount | [19] | $ 209 | ||
Cost | [19] | 211 | ||
Fair Value | [19] | $ 209 | ||
[1]Floating rate debt investments typically bear interest at a rate determined by reference to the London Interbank Offered Rate (“LIBOR” or “L”), the Secured Overnight Financing Rate (“SOFR” or “S”) or the prime index rate (“PRIME” or “P”), and which typically reset monthly, quarterly or semi-annually. For each debt investment we have provided the current rate of interest, or in the case of leases the current implied yield, in effect as of September 30, 2022.[2]Aggregate net unrealized appreciation for U.S. federal income tax purposes is $19,495; aggregate gross unrealized appreciation and depreciation for U.S. federal tax purposes is $82,598 and $63,103, respectively, based on a tax cost of $1,651,087. Unless otherwise noted, all of the Company’s investments are pledged as collateral against the borrowings outstanding on the senior secured credit facility. The Company generally acquires its investments in private transactions exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”). These investments are generally subject to certain limitations on resale, and may be deemed to be “restricted securities” under the Securities Act. All investments are Level 3 unless otherwise indicated.[3]Indicates an investment that is wholly or partially held by the Company through its wholly-owned financing subsidiary SUNS SPV LLC (the “SUNS SPV”). Such investments are pledged as collateral under the Senior Secured Revolving SPV Credit Facility (the “SPV Credit Facility”) (see Note 7 to the consolidated financial statements) and are not generally available to creditors, if any, of the Company.[4]Floating rate instruments accrue interest at a predetermined spread relative to an index, typically the LIBOR, SOFR or PRIME rate. These instruments are often subject to a LIBOR, SOFR or PRIME rate floor.[5]Floating rate instruments accrue interest at a predetermined spread relative to an index, typically the LIBOR or PRIME rate. These instruments are often subject to a LIBOR or PRIME rate floor.[6]Floating rate debt investments typically bear interest at a rate determined by reference to the London Interbank Offered Rate (“LIBOR”), and which typically reset monthly, quarterly or semi-annually. For each debt investment we have provided the current rate of interest, or in the case of leases the current implied yield, in effect as of December 31, 2021.[7]Investment is on non-accrual status.[8]AmeriMark Interactive, LLC, AmeriMark Direct LLC, AmeriMark Intermediate Sub, Inc., L.T.D. Commodities LLC, Dr. Leonard’s Healthcare Corp. and Amerimark Intermediate Holdings, LLC are each co-Borrowers.[9]Indicates assets that the Company believes may not represent “qualifying assets” under Section 55(a) of the 1940 Act. If we fail to invest a sufficient portion of our assets in qualifying assets, we could be prevented from making follow-on investments in existing portfolio companies or could be required to dispose of investments at inappropriate times in order to comply with the 1940 Act. As of September 30, 2022, on a fair value basis, non-qualifying assets in the portfolio represented 22.7% of the total assets of the Company.[10]Indicates assets that the Company believes may not represent “qualifying assets” under Section 55(a) of the 1940 Act. If we fail to invest a sufficient portion of our assets in qualifying assets, we could be prevented from making follow-on investments in existing portfolio companies or could be required to dispose of investments at inappropriate times in order to comply with the 1940 Act. As of December 31, 2021, on a fair value basis, non-qualifying assets in the portfolio represented 23.1% of the total assets of the Company.[11]Denotes investments in which we are deemed to exercise a controlling influence over the management or policies of a company, as defined in the Investment Company Act of 1940, as amended (“1940 Act”), due to beneficially owning, either directly or through one or more controlled companies, more than 25% of the outstanding voting securities of the investment. Transactions during the nine months ended September 30, 2022 in these controlled investments are as follows:[12]Denotes investments in which we are deemed to exercise a controlling influence over the management or policies of a company, as defined in the Investment Company Act of 1940, as amended (“1940 Act”), due to beneficially owning, either directly or through one or more controlled companies, more than 25% of the outstanding voting securities of the investment. Transactions during the year ended December 31, 2021 in these controlled investments are as follows:[13]Spread is 5.50% Cash / 0.50% PIK.[14]Interest is paid in kind (“PIK”).[15]Spread is 6.00% Cash / 2.00% PIK.[16]Spread is 2.50% Cash / 12.50% PIK.[17]Non-income producing security.[18]OmniGuide Holdings, Inc., Domain Surgical, Inc. and OmniGuide, Inc. are co-borrowers.[19]Indicates an investment that is wholly held by the Company through NEFPASS LLC.[20]Denotes a subsidiary of SLR Equipment Finance.[21]SLR Equipment Finance is held through NEFCORP LLC, a wholly-owned consolidated taxable subsidiary and NEFPASS LLC, a wholly-owned consolidated subsidiary.[22]See note 11 to the consolidated financial statements.[23]The Company’s investment in SOINT, LLC include a one dollar investment in common shares.[24]The Company’s investments in SOAGG, LLC and SOINT, LLC include a two and one dollar investment in common shares, respectively.[25]Kingsbridge Holdings, LLC is held through KBH Topco LLC, a Delaware corporation.[26]See note 13 to the consolidated financial statements.[27]Denotes a Level 1 investment.[28]See note 15 to the consolidated financial statements.[29]See note 9 to the consolidated financial statements.[30]See note 14 to the consolidated financial statements. |
Consolidated Schedule of Inve_2
Consolidated Schedule of Investments (Parenthetical) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Dec. 31, 2021 | |
Percentage representing senior secured loans in investments owned | 134.40% | 111.50% |
Percentage representing equipment financing in investments owned | 23.70% | 32.50% |
Percentage representing preferred equity in investments owned | 0.40% | 0.70% |
Percentage representing common equity or equity interests or warrants owned | 55.70% | 53.60% |
Percentage representing total investments in investments owned | 214.20% | 198.30% |
Percentage representing cash equivalents in investments owned | 26.70% | 38% |
Percentage representing total investments and cash equivalents in investments owned | 240.90% | 236.30% |
Percentage representing liabilities in excess of other assets in investments owned | (140.90%) | (136.30%) |
Percentage representing net assets in investments owned | 100% | 100% |
Percentage of outstanding voting securities of the investment | 25% | 25% |
Percentage of non-qualifying assets in the portfolio of total assets | 22.70% | 23.10% |
Tax Basis of Investments, Unrealized Appreciation (Depreciation), Net | $ 13,274 | $ 19,495 |
Tax Basis of Investments, Gross, Unrealized Appreciation | 159,987 | 82,598 |
Tax Basis of Investments, Gross, Unrealized Depreciation | 146,713 | 63,103 |
Investment Owned tax costs | $ 2,142,087 | $ 1,651,087 |
Spread One [Member] | ||
Percentage spread as cash | 5.50% | 6% |
Percentage spread as paid in kind | 0.50% | 2% |
Spread Two [Member] | ||
Percentage spread as cash | 2.50% | |
Percentage spread as paid in kind | 12.50% | |
Spread Three [Member] | ||
Percentage spread as cash | 5.50% | |
Percentage spread as paid in kind | 0.50% | |
Companies more than 25% owned [Member] | ||
Investment Company Change in Net Assets | ||
Beginning balance | $ 706,203 | $ 709,653 |
Gross Additions | 121,806 | 1,541 |
Gross Reductions | 20,224 | 14,189 |
Net realized gain (loss) | 0 | 0 |
Net change in unrealized gain (loss) | (20,602) | 9,113 |
Interest/Dividend Income | 39,681 | 48,942 |
Ending balance | 786,534 | 706,203 |
AviatorCap SII LLC [Member] | Companies more than 25% owned [Member] | ||
Investment Company Change in Net Assets | ||
Beginning balance | 0 | 2,941 |
Gross Additions | 0 | |
Gross Reductions | 2,941 | |
Net realized gain (loss) | 0 | |
Net change in unrealized gain (loss) | 0 | |
Interest/Dividend Income | 92 | |
Ending balance | 0 | |
Equipment Operating Leases LLC [Member] | Companies more than 25% owned [Member] | ||
Investment Company Change in Net Assets | ||
Beginning balance | 18,939 | 25,540 |
Gross Additions | 0 | 0 |
Gross Reductions | 15,725 | 6,667 |
Net realized gain (loss) | 0 | 0 |
Net change in unrealized gain (loss) | 633 | 66 |
Interest/Dividend Income | 668 | 1,950 |
Ending balance | 3,847 | 18,939 |
Kingsbridge Holdings, LLC [Member] | Companies more than 25% owned [Member] | ||
Investment Company Change in Net Assets | ||
Beginning balance | 80,000 | 80,000 |
Gross Additions | 0 | 0 |
Gross Reductions | 0 | 0 |
Net realized gain (loss) | 0 | 0 |
Net change in unrealized gain (loss) | (64) | (79) |
Interest/Dividend Income | 5,182 | 6,568 |
Ending balance | 80,000 | 80,000 |
KBH Topco LLC (Kingsbridge) [Member] | Companies more than 25% owned [Member] | ||
Investment Company Change in Net Assets | ||
Beginning balance | 145,996 | 136,596 |
Gross Additions | 0 | 0 |
Gross Reductions | 0 | 0 |
Net realized gain (loss) | 0 | 0 |
Net change in unrealized gain (loss) | 1,004 | 9,400 |
Interest/Dividend Income | 11,288 | 13,250 |
Ending balance | 147,000 | 145,996 |
Loyer Capital LLC [Member] | Companies more than 25% owned [Member] | ||
Investment Company Change in Net Assets | ||
Beginning balance | 10,725 | 14,456 |
Gross Additions | 0 | 0 |
Gross Reductions | 3,500 | 3,731 |
Net realized gain (loss) | 0 | 0 |
Net change in unrealized gain (loss) | 136 | 0 |
Interest/Dividend Income | 812 | 1,426 |
Ending balance | 7,361 | 10,725 |
RD Holdco Inc Common Equity [Member] | Companies more than 25% owned [Member] | ||
Investment Company Change in Net Assets | ||
Beginning balance | 0 | 1,226 |
Gross Additions | 0 | 0 |
Gross Reductions | 0 | 0 |
Net realized gain (loss) | 0 | 0 |
Net change in unrealized gain (loss) | 0 | (1,226) |
Interest/Dividend Income | 0 | 0 |
Ending balance | 0 | 0 |
RD Holdco Inc Class B [Member] | Companies more than 25% owned [Member] | ||
Investment Company Change in Net Assets | ||
Beginning balance | 5,216 | 5,216 |
Gross Additions | 0 | 0 |
Gross Reductions | 0 | 0 |
Net realized gain (loss) | 0 | 0 |
Net change in unrealized gain (loss) | (5,216) | 0 |
Interest/Dividend Income | 0 | 0 |
Ending balance | 0 | 5,216 |
RD Holdco Inc Warrants [Member] | Companies more than 25% owned [Member] | ||
Investment Company Change in Net Assets | ||
Beginning balance | 0 | 0 |
Gross Additions | 0 | 0 |
Gross Reductions | 0 | 0 |
Net realized gain (loss) | 0 | 0 |
Net change in unrealized gain (loss) | 0 | 0 |
Interest/Dividend Income | 0 | 0 |
Ending balance | 0 | 0 |
RD Holdco Inc Debt [Member] | Companies more than 25% owned [Member] | ||
Investment Company Change in Net Assets | ||
Beginning balance | 11,829 | |
Gross Additions | 685 | |
Gross Reductions | 0 | |
Net realized gain (loss) | 0 | |
Net change in unrealized gain (loss) | (5,351) | |
Interest/Dividend Income | (18) | |
Ending balance | 6,450 | 11,829 |
Rug Doctor LLC [Member] | Companies more than 25% owned [Member] | ||
Investment Company Change in Net Assets | ||
Beginning balance | 11,829 | 10,559 |
Gross Additions | 1,270 | |
Gross Reductions | 0 | |
Net realized gain (loss) | 0 | |
Net change in unrealized gain (loss) | (6) | |
Interest/Dividend Income | 1,300 | |
Ending balance | 11,829 | |
SLR Business Credit [Member] | Companies more than 25% owned [Member] | ||
Investment Company Change in Net Assets | ||
Beginning balance | 0 | |
Gross Additions | 81,583 | |
Gross Reductions | 0 | |
Net realized gain (loss) | 0 | |
Net change in unrealized gain (loss) | 7,787 | |
Interest/Dividend Income | 3,400 | |
Ending balance | 89,370 | 0 |
SLR Credit Solutions [Member] | Companies more than 25% owned [Member] | ||
Investment Company Change in Net Assets | ||
Beginning balance | 298,766 | 296,766 |
Gross Additions | 0 | 0 |
Gross Reductions | 0 | 0 |
Net realized gain (loss) | 0 | 0 |
Net change in unrealized gain (loss) | (10,006) | 2,000 |
Interest/Dividend Income | 15,500 | 22,500 |
Ending balance | 288,760 | 298,766 |
SLR Equipment Finance Equity [Member] | Companies more than 25% owned [Member] | ||
Investment Company Change in Net Assets | ||
Beginning balance | 129,102 | 129,102 |
Gross Additions | 0 | 0 |
Gross Reductions | 0 | 0 |
Net realized gain (loss) | 0 | 0 |
Net change in unrealized gain (loss) | (8,282) | 0 |
Interest/Dividend Income | 0 | 0 |
Ending balance | 120,820 | 129,102 |
SLR Equipment Finance Debt [Member] | Companies more than 25% owned [Member] | ||
Investment Company Change in Net Assets | ||
Beginning balance | 0 | 850 |
Gross Additions | 5,000 | 0 |
Gross Reductions | 0 | 850 |
Net realized gain (loss) | 0 | 0 |
Net change in unrealized gain (loss) | 0 | 0 |
Interest/Dividend Income | 270 | 42 |
Ending balance | 5,000 | 0 |
SLR Healthcare ABL [Member] | Companies more than 25% owned [Member] | ||
Investment Company Change in Net Assets | ||
Beginning balance | 0 | |
Gross Additions | 34,335 | |
Gross Reductions | 0 | |
Net realized gain (loss) | 0 | |
Net change in unrealized gain (loss) | (585) | |
Interest/Dividend Income | 1,730 | |
Ending balance | 33,750 | 0 |
SOAGG LLC [Member] | Companies more than 25% owned [Member] | ||
Investment Company Change in Net Assets | ||
Beginning balance | 1,121 | 2,300 |
Gross Additions | 0 | 0 |
Gross Reductions | 447 | 0 |
Net realized gain (loss) | 0 | 0 |
Net change in unrealized gain (loss) | (674) | (1,179) |
Interest/Dividend Income | 647 | 1,543 |
Ending balance | 0 | 1,121 |
SOINT LLC [Member] | Companies more than 25% owned [Member] | ||
Investment Company Change in Net Assets | ||
Beginning balance | 4,509 | 4,101 |
Gross Additions | 203 | 271 |
Gross Reductions | 552 | 0 |
Net realized gain (loss) | 0 | 0 |
Net change in unrealized gain (loss) | 16 | 137 |
Interest/Dividend Income | 202 | 271 |
Ending balance | $ 4,176 | $ 4,509 |
N-2
N-2 - USD ($) $ / shares in Units, $ in Thousands | 9 Months Ended | 12 Months Ended | ||||||||||
Sep. 30, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||
Cover [Abstract] | ||||||||||||
Entity Central Index Key | 0001418076 | |||||||||||
Amendment Flag | false | |||||||||||
Securities Act File Number | 814-00754 | |||||||||||
Document Type | 10-Q | |||||||||||
Entity Registrant Name | SLR INVESTMENT CORP. | |||||||||||
Entity Address, Address Line One | 500 Park Avenue | |||||||||||
Entity Address, City or Town | New York | |||||||||||
Entity Address, State or Province | NY | |||||||||||
Entity Address, Postal Zip Code | 10022 | |||||||||||
City Area Code | 212 | |||||||||||
Local Phone Number | 993-1670 | |||||||||||
Entity Emerging Growth Company | false | |||||||||||
Financial Highlights [Abstract] | ||||||||||||
Senior Securities [Table Text Block] | Information about our senior securities is shown in the following table (in thousands) as of the quarter ended September 30, 2022 and each year ended December 31 for the past ten years, unless otherwise noted. The “—” indicates information which the SEC expressly does not require to be disclosed for certain types of senior securities. Class and Year Total Amount Asset Involuntary Average Credit Facility Fiscal 2022 (through September 30, 2022) $ 360,000 $ 583 — N/A Fiscal 2021 222,500 552 — N/A Fiscal 2020 126,000 421 — N/A Fiscal 2019 42,900 182 — N/A Fiscal 2018 96,400 593 — N/A Fiscal 2017 245,600 1,225 — N/A Fiscal 2016 115,200 990 — N/A Fiscal 2015 207,900 1,459 — N/A Fiscal 2014 — — — N/A Fiscal 2013 — — — N/A Fiscal 2012 264,452 1,510 — N/A SPV Credit Facility Fiscal 2022 (through September 30, 2022) 130,200 211 — N/A 2022 Unsecured Notes Fiscal 2022 (through September 30, 2022) — — — N/A Fiscal 2021 150,000 372 — N/A Fiscal 2020 150,000 501 — N/A Fiscal 2019 150,000 638 — N/A Fiscal 2018 150,000 923 — N/A Fiscal 2017 150,000 748 — N/A Fiscal 2016 50,000 430 — N/A 2022 Tranche C Notes Fiscal 2022 (through September 30, 2022) 21,000 34 — N/A Fiscal 2021 21,000 52 — N/A Fiscal 2020 21,000 70 — N/A Fiscal 2019 21,000 89 — N/A Fiscal 2018 21,000 129 — N/A Fiscal 2017 21,000 105 — N/A 2023 Unsecured Notes Class and Year Total Amount Asset Involuntary Average Fiscal 2022 (through September 30, 2022) 75,000 121 — N/A Fiscal 2021 75,000 186 — N/A Fiscal 2020 75,000 250 — N/A Fiscal 2019 75,000 319 — N/A Fiscal 2018 75,000 461 — N/A Fiscal 2017 75,000 374 — N/A 2024 Unsecured Notes Fiscal 2022 (through September 30, 2022) 125,000 202 — N/A Fiscal 2021 125,000 309 — N/A Fiscal 2020 125,000 417 — N/A Fiscal 2019 125,000 531 — N/A 2025 Unsecured Notes Fiscal 2022 (through September 30, 2022) 85,000 137 — N/A 2026 Unsecured Notes Fiscal 2022 (through September 30, 2022) 75,000 121 — N/A Fiscal 2021 75,000 186 — N/A Fiscal 2020 75,000 250 — N/A Fiscal 2019 75,000 319 — N/A 2027 Unsecured Notes Fiscal 2022 (through September 30, 2022) 50,000 81 — N/A Fiscal 2021 50,000 124 — N/A 2027 Series F Unsecured Notes Fiscal 2022 (through September 30, 2022) 135,000 218 — N/A 2042 Unsecured Notes Fiscal 2017 — — — N/A Fiscal 2016 100,000 859 — $ 1,002 Fiscal 2015 100,000 702 — 982 Fiscal 2014 100,000 2,294 — 943 Fiscal 2013 100,000 2,411 — 934 Fiscal 2012 100,000 571 — 923 Senior Secured Notes Fiscal 2017 — — — N/A Fiscal 2016 75,000 645 — N/A Fiscal 2015 75,000 527 — N/A Fiscal 2014 75,000 1,721 — N/A Fiscal 2013 75,000 1,808 — N/A Fiscal 2012 75,000 428 — N/A Term Loans Fiscal 2022 (through September 30, 2022) 100,000 162 — N/A Fiscal 2021 100,000 248 — N/A Fiscal 2020 75,000 250 — N/A Fiscal 2019 75,000 319 — N/A Fiscal 2018 50,000 308 — N/A Fiscal 2017 50,000 250 — N/A Fiscal 2016 50,000 430 — N/A Fiscal 2015 50,000 351 — N/A Fiscal 2014 50,000 1,147 — N/A Fiscal 2013 50,000 1,206 — N/A Fiscal 2012 50,000 285 — N/A NEFPASS Facility Fiscal 2021 — — — N/A Fiscal 2020 30,000 100 — N/A Fiscal 2019 30,000 128 — N/A Fiscal 2018 30,000 185 — N/A SSLP Facility Fiscal 2019 — — — N/A Fiscal 2018 53,785 331 — N/A Total Senior Securities Fiscal 2022 (through September 30, 2022) $ 1,156,200 $ 1,870 — N/A Fiscal 2021 818,500 2,029 — N/A Fiscal 2020 677,000 2,259 — N/A Fiscal 2019 593,900 2,525 — N/A Fiscal 2018 476,185 2,930 — N/A Fiscal 2017 541,600 2,702 — N/A Fiscal 2016 390,200 3,354 — N/A Fiscal 2015 432,900 3,039 — N/A Fiscal 2014 225,000 5,162 — N/A Fiscal 2013 225,000 5,425 — N/A Fiscal 2012 489,452 2,794 — N/A (1) Total amount of each class of senior securities outstanding (in thousands) at the end of the period presented. (2) The asset coverage ratio for a class of senior securities representing indebtedness is calculated as our consolidated total assets, less all liabilities and indebtedness not represented by senior securities, divided by all senior securities representing indebtedness. This asset coverage ratio is multiplied by one thousand to determine the Asset Coverage Per Unit. In order to determine the specific Asset Coverage Per Unit for each class of debt, the total Asset Coverage Per Unit is allocated based on the amount outstanding in each class of debt at the end of the period. As of September 30, 2022, asset coverage was 187.0%. (3) The amount to which such class of senior security would be entitled upon the involuntary liquidation of the issuer in preference to any security junior to it. (4) Not applicable except for the 2042 Unsecured Notes which were publicly traded. The Average Market Value Per Unit is calculated by taking the daily average closing price during the period and dividing it by twenty-five dollars per share and multiplying the result by one thousand to determine a unit price per thousand consistent with Asset Coverage Per Unit. The average market value for the fiscal 2016, 2015, 2014, 2013 and 2012 periods was $100,175, $98,196, $94,301, $93,392, and $92,302, respectively. | |||||||||||
Senior Securities Amount | [1] | $ 1,156,200 | $ 818,500 | $ 677,000 | $ 593,900 | $ 476,185 | $ 541,600 | $ 390,200 | $ 432,900 | $ 225,000 | $ 225,000 | $ 489,452 |
Senior Securities Coverage per Unit | [2] | $ 1,870 | $ 2,029 | $ 2,259 | $ 2,525 | $ 2,930 | $ 2,702 | $ 3,354 | $ 3,039 | $ 5,162 | $ 5,425 | $ 2,794 |
Senior Securities Involuntary Liquidating Preference per Unit | [3] | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 |
Senior Securities, Note [Text Block] | Senior Securities Information about our senior securities is shown in the following table (in thousands) as of the quarter ended September 30, 2022 and each year ended December 31 for the past ten years, unless otherwise noted. The “—” indicates information which the SEC expressly does not require to be disclosed for certain types of senior securities. Class and Year Total Amount Asset Involuntary Average Credit Facility Fiscal 2022 (through September 30, 2022) $ 360,000 $ 583 — N/A Fiscal 2021 222,500 552 — N/A Fiscal 2020 126,000 421 — N/A Fiscal 2019 42,900 182 — N/A Fiscal 2018 96,400 593 — N/A Fiscal 2017 245,600 1,225 — N/A Fiscal 2016 115,200 990 — N/A Fiscal 2015 207,900 1,459 — N/A Fiscal 2014 — — — N/A Fiscal 2013 — — — N/A Fiscal 2012 264,452 1,510 — N/A SPV Credit Facility Fiscal 2022 (through September 30, 2022) 130,200 211 — N/A 2022 Unsecured Notes Fiscal 2022 (through September 30, 2022) — — — N/A Fiscal 2021 150,000 372 — N/A Fiscal 2020 150,000 501 — N/A Fiscal 2019 150,000 638 — N/A Fiscal 2018 150,000 923 — N/A Fiscal 2017 150,000 748 — N/A Fiscal 2016 50,000 430 — N/A 2022 Tranche C Notes Fiscal 2022 (through September 30, 2022) 21,000 34 — N/A Fiscal 2021 21,000 52 — N/A Fiscal 2020 21,000 70 — N/A Fiscal 2019 21,000 89 — N/A Fiscal 2018 21,000 129 — N/A Fiscal 2017 21,000 105 — N/A 2023 Unsecured Notes Class and Year Total Amount Asset Involuntary Average Fiscal 2022 (through September 30, 2022) 75,000 121 — N/A Fiscal 2021 75,000 186 — N/A Fiscal 2020 75,000 250 — N/A Fiscal 2019 75,000 319 — N/A Fiscal 2018 75,000 461 — N/A Fiscal 2017 75,000 374 — N/A 2024 Unsecured Notes Fiscal 2022 (through September 30, 2022) 125,000 202 — N/A Fiscal 2021 125,000 309 — N/A Fiscal 2020 125,000 417 — N/A Fiscal 2019 125,000 531 — N/A 2025 Unsecured Notes Fiscal 2022 (through September 30, 2022) 85,000 137 — N/A 2026 Unsecured Notes Fiscal 2022 (through September 30, 2022) 75,000 121 — N/A Fiscal 2021 75,000 186 — N/A Fiscal 2020 75,000 250 — N/A Fiscal 2019 75,000 319 — N/A 2027 Unsecured Notes Fiscal 2022 (through September 30, 2022) 50,000 81 — N/A Fiscal 2021 50,000 124 — N/A 2027 Series F Unsecured Notes Fiscal 2022 (through September 30, 2022) 135,000 218 — N/A 2042 Unsecured Notes Fiscal 2017 — — — N/A Fiscal 2016 100,000 859 — $ 1,002 Fiscal 2015 100,000 702 — 982 Fiscal 2014 100,000 2,294 — 943 Fiscal 2013 100,000 2,411 — 934 Fiscal 2012 100,000 571 — 923 Senior Secured Notes Fiscal 2017 — — — N/A Fiscal 2016 75,000 645 — N/A Fiscal 2015 75,000 527 — N/A Fiscal 2014 75,000 1,721 — N/A Fiscal 2013 75,000 1,808 — N/A Fiscal 2012 75,000 428 — N/A Term Loans Fiscal 2022 (through September 30, 2022) 100,000 162 — N/A Fiscal 2021 100,000 248 — N/A Fiscal 2020 75,000 250 — N/A Fiscal 2019 75,000 319 — N/A Fiscal 2018 50,000 308 — N/A Fiscal 2017 50,000 250 — N/A Fiscal 2016 50,000 430 — N/A Fiscal 2015 50,000 351 — N/A Fiscal 2014 50,000 1,147 — N/A Fiscal 2013 50,000 1,206 — N/A Fiscal 2012 50,000 285 — N/A NEFPASS Facility Fiscal 2021 — — — N/A Fiscal 2020 30,000 100 — N/A Fiscal 2019 30,000 128 — N/A Fiscal 2018 30,000 185 — N/A SSLP Facility Fiscal 2019 — — — N/A Fiscal 2018 53,785 331 — N/A Total Senior Securities Fiscal 2022 (through September 30, 2022) $ 1,156,200 $ 1,870 — N/A Fiscal 2021 818,500 2,029 — N/A Fiscal 2020 677,000 2,259 — N/A Fiscal 2019 593,900 2,525 — N/A Fiscal 2018 476,185 2,930 — N/A Fiscal 2017 541,600 2,702 — N/A Fiscal 2016 390,200 3,354 — N/A Fiscal 2015 432,900 3,039 — N/A Fiscal 2014 225,000 5,162 — N/A Fiscal 2013 225,000 5,425 — N/A Fiscal 2012 489,452 2,794 — N/A (1) Total amount of each class of senior securities outstanding (in thousands) at the end of the period presented. (2) The asset coverage ratio for a class of senior securities representing indebtedness is calculated as our consolidated total assets, less all liabilities and indebtedness not represented by senior securities, divided by all senior securities representing indebtedness. This asset coverage ratio is multiplied by one thousand to determine the Asset Coverage Per Unit. In order to determine the specific Asset Coverage Per Unit for each class of debt, the total Asset Coverage Per Unit is allocated based on the amount outstanding in each class of debt at the end of the period. As of September 30, 2022, asset coverage was 187.0%. (3) The amount to which such class of senior security would be entitled upon the involuntary liquidation of the issuer in preference to any security junior to it. (4) Not applicable except for the 2042 Unsecured Notes which were publicly traded. The Average Market Value Per Unit is calculated by taking the daily average closing price during the period and dividing it by twenty-five dollars per share and multiplying the result by one thousand to determine a unit price per thousand consistent with Asset Coverage Per Unit. The average market value for the fiscal 2016, 2015, 2014, 2013 and 2012 periods was $100,175, $98,196, $94,301, $93,392, and $92,302, respectively. | |||||||||||
General Description of Registrant [Abstract] | ||||||||||||
Investment Objectives and Practices [Text Block] | Portfolio and Investment Activity During the three months ended September 30, 2022, we invested approximately $245.4 million across 44 portfolio companies. This compares to investing approximately $230.7 million in 23 portfolio companies for the three months ended September 30, 2021. Investments sold, prepaid or repaid during the three months ended September 30, 2022 totaled approximately $81.1 million versus approximately $105.9 million for the three months ended September 30, 2021. At September 30, 2022, our portfolio consisted of 135 portfolio companies and was invested 30.2% in cash flow senior secured loans, 31.9% in asset-based senior secured loans / SLR Credit Solutions (“SLR Credit”) / SLR Healthcare ABL / SLR Business Credit, 21.6% in equipment senior secured financings / SLR Equipment Finance (“SLR Equipment”) / Kingsbridge Holdings, LLC (“KBH”) and 16.3% in life science senior secured loans, in each case, measured at fair value, versus 106 portfolio companies and was invested 28.4% in cash flow senior secured loans, 26.5% in asset-based senior secured loans / SLR Credit, 30.4% in equipment senior secured financings / SLR Equipment / KBH, and 14.7% in life science senior secured loans, in each case, measured at fair value, at September 30, 2021. At September 30, 2022, 79.7% or $1.71 billion of our income producing investment portfolio * * non-accrual * We have included SLR Credit Solutions, SLR Equipment Finance, SLR Healthcare ABL, SLR Business Credit and Kingsbridge Holdings, LLC within our income producing investment portfolio. | |||||||||||
Risk Factors [Table Text Block] | Item 1A. Risk Factors In addition to the other information set forth in this report, you should carefully consider the factors discussed in “Risk Factors” in the March 1, 2022 filing of our Annual Report on Form 10-K, which 10-K. The Russian invasion of Ukraine may have a material adverse impact on us and our portfolio companies. On February 24, 2022, the Russian military commenced a full-scale invasion of Russia’s pre-positioned forces | |||||||||||
Credit Facility | ||||||||||||
Financial Highlights [Abstract] | ||||||||||||
Senior Securities Amount | [1] | $ 360,000 | $ 222,500 | $ 126,000 | $ 42,900 | $ 96,400 | $ 245,600 | $ 115,200 | $ 207,900 | $ 0 | $ 0 | $ 264,452 |
Senior Securities Coverage per Unit | [2] | $ 583 | $ 552 | $ 421 | $ 182 | $ 593 | $ 1,225 | $ 990 | $ 1,459 | $ 0 | $ 0 | $ 1,510 |
Senior Securities Involuntary Liquidating Preference per Unit | [3] | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 |
SPV Credit Facility | ||||||||||||
Financial Highlights [Abstract] | ||||||||||||
Senior Securities Amount | [1] | $ 130,200 | ||||||||||
Senior Securities Coverage per Unit | [2] | $ 211 | ||||||||||
Senior Securities Involuntary Liquidating Preference per Unit | [3] | $ 0 | ||||||||||
2022 Unsecured Notes | ||||||||||||
Financial Highlights [Abstract] | ||||||||||||
Senior Securities Amount | [1] | $ 0 | $ 150,000 | $ 150,000 | $ 150,000 | $ 150,000 | $ 150,000 | $ 50,000 | ||||
Senior Securities Coverage per Unit | [2] | $ 0 | $ 372 | $ 501 | $ 638 | $ 923 | $ 748 | $ 430 | ||||
Senior Securities Involuntary Liquidating Preference per Unit | [3] | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | ||||
2022 Tranche C Notes | ||||||||||||
Financial Highlights [Abstract] | ||||||||||||
Senior Securities Amount | [1] | $ 21,000 | $ 21,000 | $ 21,000 | $ 21,000 | $ 21,000 | $ 21,000 | |||||
Senior Securities Coverage per Unit | [2] | $ 34 | $ 52 | $ 70 | $ 89 | $ 129 | $ 105 | |||||
Senior Securities Involuntary Liquidating Preference per Unit | [3] | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | |||||
2023 Unsecured Notes | ||||||||||||
Financial Highlights [Abstract] | ||||||||||||
Senior Securities Amount | [1] | $ 75,000 | $ 75,000 | $ 75,000 | $ 75,000 | $ 75,000 | $ 75,000 | |||||
Senior Securities Coverage per Unit | [2] | $ 121 | $ 186 | $ 250 | $ 319 | $ 461 | $ 374 | |||||
Senior Securities Involuntary Liquidating Preference per Unit | [3] | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | |||||
2024 Unsecured Notes | ||||||||||||
Financial Highlights [Abstract] | ||||||||||||
Senior Securities Amount | [1] | $ 125,000 | $ 125,000 | $ 125,000 | $ 125,000 | |||||||
Senior Securities Coverage per Unit | [2] | $ 202 | $ 309 | $ 417 | $ 531 | |||||||
Senior Securities Involuntary Liquidating Preference per Unit | [3] | $ 0 | $ 0 | $ 0 | $ 0 | |||||||
2025 Unsecured Notes | ||||||||||||
Financial Highlights [Abstract] | ||||||||||||
Senior Securities Amount | [1] | $ 85,000 | ||||||||||
Senior Securities Coverage per Unit | [2] | $ 137 | ||||||||||
Senior Securities Involuntary Liquidating Preference per Unit | [3] | $ 0 | ||||||||||
2026 Unsecured Notes | ||||||||||||
Financial Highlights [Abstract] | ||||||||||||
Senior Securities Amount | [1] | $ 75,000 | $ 75,000 | $ 75,000 | $ 75,000 | |||||||
Senior Securities Coverage per Unit | [2] | $ 121 | $ 186 | $ 250 | $ 319 | |||||||
Senior Securities Involuntary Liquidating Preference per Unit | [3] | $ 0 | $ 0 | $ 0 | $ 0 | |||||||
2027 Unsecured Notes | ||||||||||||
Financial Highlights [Abstract] | ||||||||||||
Senior Securities Amount | [1] | $ 50,000 | $ 50,000 | |||||||||
Senior Securities Coverage per Unit | [2] | $ 81 | $ 124 | |||||||||
Senior Securities Involuntary Liquidating Preference per Unit | [3] | $ 0 | $ 0 | |||||||||
2027 Series F Unsecured Notes | ||||||||||||
Financial Highlights [Abstract] | ||||||||||||
Senior Securities Amount | [1] | $ 135,000 | ||||||||||
Senior Securities Coverage per Unit | [2] | $ 218 | ||||||||||
Senior Securities Involuntary Liquidating Preference per Unit | [3] | $ 0 | ||||||||||
2042 Unsecured Notes | ||||||||||||
Financial Highlights [Abstract] | ||||||||||||
Senior Securities Amount | [1] | $ 0 | $ 100,000 | $ 100,000 | $ 100,000 | $ 100,000 | $ 100,000 | |||||
Senior Securities Coverage per Unit | [2] | $ 0 | $ 859 | $ 702 | $ 2,294 | $ 2,411 | $ 571 | |||||
Senior Securities Involuntary Liquidating Preference per Unit | [3] | $ 0 | 0 | 0 | 0 | 0 | 0 | |||||
Senior Securities Average Market Value per Unit | [4] | $ 1,002 | $ 982 | $ 943 | $ 934 | $ 923 | ||||||
Senior Secured Notes | ||||||||||||
Financial Highlights [Abstract] | ||||||||||||
Senior Securities Amount | [1] | $ 0 | $ 75,000 | $ 75,000 | $ 75,000 | $ 75,000 | $ 75,000 | |||||
Senior Securities Coverage per Unit | [2] | $ 0 | $ 645 | $ 527 | $ 1,721 | $ 1,808 | $ 428 | |||||
Senior Securities Involuntary Liquidating Preference per Unit | [3] | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | |||||
Term Loans | ||||||||||||
Financial Highlights [Abstract] | ||||||||||||
Senior Securities Amount | [1] | $ 100,000 | $ 100,000 | $ 75,000 | $ 75,000 | $ 50,000 | $ 50,000 | $ 50,000 | $ 50,000 | $ 50,000 | $ 50,000 | $ 50,000 |
Senior Securities Coverage per Unit | [2] | $ 162 | $ 248 | $ 250 | $ 319 | $ 308 | $ 250 | $ 430 | $ 351 | $ 1,147 | $ 1,206 | $ 285 |
Senior Securities Involuntary Liquidating Preference per Unit | [3] | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 |
NEFPASS Facility | ||||||||||||
Financial Highlights [Abstract] | ||||||||||||
Senior Securities Amount | [1] | $ 0 | $ 30,000 | $ 30,000 | $ 30,000 | |||||||
Senior Securities Coverage per Unit | [2] | $ 0 | $ 100 | $ 128 | $ 185 | |||||||
Senior Securities Involuntary Liquidating Preference per Unit | [3] | $ 0 | $ 0 | $ 0 | $ 0 | |||||||
SSLP Facility | ||||||||||||
Financial Highlights [Abstract] | ||||||||||||
Senior Securities Amount | [1] | $ 0 | $ 53,785 | |||||||||
Senior Securities Coverage per Unit | [2] | $ 0 | $ 331 | |||||||||
Senior Securities Involuntary Liquidating Preference per Unit | [3] | $ 0 | $ 0 | |||||||||
[1]Total amount of each class of senior securities outstanding (in thousands) at the end of the period presented.[2]The asset coverage ratio for a class of senior securities representing indebtedness is calculated as our consolidated total assets, less all liabilities and indebtedness not represented by senior securities, divided by all senior securities representing indebtedness. This asset coverage ratio is multiplied by one thousand to determine the Asset Coverage Per Unit. In order to determine the specific Asset Coverage Per Unit for each class of debt, the total Asset Coverage Per Unit is allocated based on the amount outstanding in each class of debt at the end of the period. As of September 30, 2022, asset coverage was 187.0%.[3]The amount to which such class of senior security would be entitled upon the involuntary liquidation of the issuer in preference to any security junior to it.[4]Not applicable except for the 2042 Unsecured Notes which were publicly traded. The Average Market Value Per Unit is calculated by taking the daily average closing price during the period and dividing it by twenty-five dollars per share and multiplying the result by one thousand to determine a unit price per thousand consistent with Asset Coverage Per Unit. The average market value for the fiscal 2016, 2015, 2014, 2013 and 2012 periods was $100,175, $98,196, $94,301, $93,392, and $92,302, respectively. |
Organization
Organization | 9 Months Ended |
Sep. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization | Note 1. Organization Solar Capital LLC, a Maryland limited liability company, was formed in February 2007 and commenced operations on March 13, 2007 with initial capital of $1,200,000 of which 47.04% was funded by affiliated parties. Immediately prior to our initial public offering, through a series of transactions, SLR Investment Corp. (the “Company”, “we”, “us” or “our”), merged with Solar Capital LLC, leaving SLR Investment Corp. as the surviving entity (the “Pre-IPO Pre-IPO Pre-IPO Pre-IPO SLR Investment Corp., a Maryland corporation formed in November 2007, is a closed-end, non-diversified On February 9, 2010, the Company priced its initial public offering, selling 5.68 million shares of common stock, including the underwriters’ over-allotment, at a price of $18.50 per share. Concurrent with this offering, the Company’s senior management purchased an additional 600,000 shares through a private placement, also at $18.50 per share. The Company’s investment objective is to maximize both current income and capital appreciation through debt and equity investments. The Company directly and indirectly invests primarily in leveraged middle market companies in the form of senior secured loans, financing leases and to a lesser extent, unsecured loans and equity securities. From time to time, we may also invest in public companies that are thinly traded. On December 1, 2021, we entered into an Agreement and Plan of Merger (the “Merger Agreement”), with SLR Senior Investment Corp., a Maryland corporation (“SUNS”), Solstice Merger Sub, Inc., a Maryland corporation and our wholly-owned subsidiary (“Merger Sub”), and, solely for the limited purposes set forth therein, SLR Capital Partners, LLC (the “Investment Adviser”). The Merger Agreement provided that, subject to the conditions set forth in the Merger Agreement, Merger Sub will merge with and into SUNS, with SUNS continuing as the surviving company and as SUNS’s wholly-owned subsidiary (the “Merger,”) and, immediately thereafter, SUNS will merge with and into us, with us continuing as the surviving company (together with the Merger, the “Mergers”). The Mergers closed on April 1, 2022. See Note 16 for additional information. |
Significant Accounting Policies
Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | Note 2. Significant Accounting Policies The accompanying consolidated financial statements have been prepared on the accrual basis of accounting in conformity with U.S. generally accepted accounting principles (“GAAP”), and include the accounts of the Company and certain wholly-owned subsidiaries. The consolidated financial statements reflect all adjustments and reclassifications which, in the opinion of management, are necessary for the fair presentation of the results of the operations and financial condition for the periods presented. All significant intercompany balances and transactions have been eliminated. Certain prior period amounts may have been reclassified to conform to the current period presentation. Interim consolidated financial statements are prepared in accordance with GAAP for interim financial information and pursuant to the requirements for reporting on Form 10-Q S-X, In the opinion of management, all adjustments, which are of a normal recurring nature, considered necessary for the fair presentation of financial statements, have been included. The significant accounting policies consistently followed by the Company are: (a) Investment transactions are accounted for on the trade date; (b) Under procedures established by the board of directors (the “Board”), we value investments, including certain senior secured debt, subordinated debt and other debt securities with maturities greater than 60 days, for which market quotations are readily available, at such market quotations (unless they are deemed not to represent fair value). A market quotation is readily available for a security only when that quotation is a quoted price (unadjusted) in active markets for identical investments that the Company can access at the measurement date, provided that a quotation will not be readily available if it is not reliable. If the Company anticipates using a market quotation for a security, it will also monitor for circumstances that may necessitate the use of fair value, such as significant events that may cause concern over the reliability of a market quotation]. We attempt to obtain market quotations from at least two brokers or dealers (if available, otherwise from a principal market maker or a primary market dealer or other independent pricing service). We utilize mid-market With respect to investments for which market quotations are not readily available or when such market quotations are deemed not to represent fair value, the Board has approved a multi-step valuation process each quarter, as described below: (1) our quarterly valuation process begins with each portfolio company or investment being initially valued by the investment professionals of the Investment Adviser responsible for the portfolio investment; (2) preliminary valuation conclusions are then documented and discussed with senior management of the Investment Adviser; (3) independent valuation firms engaged by the Board conduct independent appraisals and review the Investment Adviser’s preliminary valuations and make their own independent assessment for all material assets; (4) the audit committee of the Board reviews the preliminary valuation of the Investment Adviser and that of the independent valuation firm and responds to the valuation recommendation of the independent valuation firm, if any, to reflect any comments; and (5) the Board discusses valuations and determines the fair value of each investment in our portfolio in good faith based on the input of the Investment Adviser, the respective independent valuation firm, if any, and the audit committee. Investments in all asset classes are valued utilizing a market approach, an income approach, or both approaches, as appropriate. However, in accordance with ASC 820-10, ASC Topic 820 classifies the inputs used to measure these fair values into the following hierarchy: Level 1 Level 2 Level 3 In all cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls is determined based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to each investment. The exercise of judgment is based in part on our knowledge of the asset class and our prior experience. (c) Gains or losses on investments are calculated by using the specific identification method. (d) The Company records dividend income and interest, adjusted for amortization of premium and accretion of discount, on an accrual basis. Loan origination fees, original issue discount, and market discounts are capitalized and we amortize such amounts into income using the effective interest method. Upon the prepayment of a loan, any unamortized loan origination fees are recorded as interest income. We record call premiums received on loans repaid as interest income when we receive such amounts. Capital structuring fees, amendment fees, consent fees, and any other non-recurring (e) The Company intends to comply with the applicable provisions of the Code pertaining to regulated investment companies to make distributions of taxable income sufficient to relieve it of substantially all U.S. federal income taxes. The Company, at its discretion, may carry forward taxable income in excess of calendar year distributions and pay a 4% excise tax on this income. The Company will accrue excise tax on such estimated excess taxable income as appropriate. (f) Book and tax basis differences relating to stockholder distributions and other permanent book and tax differences are typically reclassified among the Company’s capital accounts annually. In addition, the character of income and gains to be distributed is determined in accordance with income tax regulations that may differ from GAAP. (g) Distributions to common stockholders are recorded as of the record date. The amount to be paid out as a distribution is determined by the Board. Net realized capital gains, if any, are generally distributed or deemed distributed at least annually. (h) In accordance with Regulation S-X Consolidation (i) The accounting records of the Company are maintained in U.S. dollars. Any assets and liabilities denominated in foreign currencies are translated into U.S. dollars based on the rate of exchange of such currencies against U.S. dollars on the date of valuation. The Company will not isolate that portion of the results of operations resulting from changes in foreign exchange rates on investments from the fluctuations arising from changes in market prices of securities held. Such fluctuations would be included with the net unrealized gain or loss from investments. The Company’s investments in foreign securities, if any, may involve certain risks, including without limitation: foreign exchange restrictions, expropriation, taxation or other political, social or economic risks, all of which could affect the market and/or credit risk of the investment. In addition, changes in the relationship of foreign currencies to the U.S. dollar can significantly affect the value of these investments in terms of U.S. dollars and therefore the earnings of the Company. (j) In accordance with ASC 835-30, (k) The Company may enter into forward exchange contracts in order to hedge against foreign currency risk. These contracts are marked-to-market (l) The Company records expenses related to shelf registration statements and applicable equity offering costs as prepaid assets. These expenses are typically charged as a reduction of capital upon the sale of shares or expensed, in accordance with ASC 946-20-25. (m) Investments that are expected to pay regularly scheduled interest in cash are generally placed on non-accrual non-accrual (n) The Company defines cash equivalents as securities that are readily convertible into known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only securities with a maturity of three months or less would qualify, with limited exceptions. The Company believes that certain U.S. Treasury bills, repurchase agreements and other high-quality, short-term debt securities would qualify as cash equivalents. Recent Accounting Pronouncements In March 2020, the FASB issued Accounting Standards Update No. 2020-04, 2020-04 |
Agreements
Agreements | 9 Months Ended |
Sep. 30, 2022 | |
Agreements [Abstract] | |
Agreements | Note 3. Agreements The Company has an investment advisory and management agreement (the “Advisory Agreement”) with the Investment Adviser, under which the Investment Adviser will manage the day-to-day The performance-based incentive fee has two parts, as follows: one part is calculated and payable quarterly in arrears based on the Company’s pre-incentive pre-incentive Pre-incentive Pre-incentive pre-incentive pre-incentive pre-incentive pre-incentive pre-incentive pro-rated The second part of the performance-based incentive fee is determined and payable in arrears as of the end of each calendar year (or upon termination of the Advisory Agreement, as of the termination date), and will equal 20% of the Company’s cumulative realized capital gains less cumulative realized capital losses, unrealized capital depreciation (unrealized depreciation on a gross investment-by-investment For the three and nine months ended September 30, 2022, the Company recognized $7,890 and $22,019, respectively, in base management fees and $4,965 and $9,699, respectively, in gross performance-based incentive fees. For the three and nine months ended September 30, 2022, $194 and $1,552 of such performance-based incentive fees were waived. For the three and nine months ended September 30, 2021, the Company recognized $7,142 and $20,842, respectively, in base management fees and $698 and $8,444, respectively, in performance-based incentive fees. The Investment Adviser has agreed to waive incentive fees resulting from income earned due to the accretion of purchase discount allocated to investments acquired as a result of the Merger. Fees waived pursuant to the above are not subject to recoupment by the Investment Adviser. The Company has also entered into an Administration Agreement with SLR Capital Management, LLC (the “Administrator”) under which the Administrator provides administrative services to the Company. For providing these services, facilities and personnel, the Company reimburses the Administrator for the Company’s allocable portion of overhead and other expenses incurred by the Administrator in performing its obligations under the Administration Agreement, including rent. The Administrator will also provide, on the Company’s behalf, managerial assistance to those portfolio companies to which the Company is required to provide such assistance. The Company typically reimburses the Administrator on a quarterly basis. For the three and nine months ended September 30, 2022, the Company recognized expenses under the Administration Agreement of $1,132 and $3,684 respectively. For the three and nine months ended September 30, 2021, the Company recognized expenses under the Administration Agreement of $1,435 and $4,170 respectively. No managerial assistance fees were accrued or collected for the three and nine months ended September 30, 2022 and 2021. |
Net Asset Value Per Share
Net Asset Value Per Share | 9 Months Ended |
Sep. 30, 2022 | |
Net Asset Value Per Share [Abstract] | |
Net Asset Value Per Share | Note 4. Net Asset Value Per Share At September 30, 2022, the Company’s total net assets and net asset value per share were $1,006,225 and $18.37, respectively. This compares to total net assets and net asset value per share at December 31, 2021 of $842,281 and $19.93, respectively. |
Earnings Per Share
Earnings Per Share | 9 Months Ended |
Sep. 30, 2022 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Note 5. Earnings Per Share The following table sets forth the computation of basic and diluted net increase in net assets per share resulting from operations, pursuant to ASC 260-10, Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 Earnings (loss) per share (basic & diluted) Numerator - net increase (decrease) in net assets resulting from operations: $ 13,528 $ 13,371 $ (655 ) $ 53,448 Denominator - weighted average shares: 54,772,651 42,260,826 50,647,874 42,260,826 Earnings (loss) per share: $ 0.25 $ 0.32 ($ 0.01 ) $ 1.26 |
Fair Value
Fair Value | 9 Months Ended |
Sep. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
Fair Value | Note 6. Fair Value Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. GAAP establishes a framework for measuring fair value that includes a hierarchy used to classify the inputs used in measuring fair value. The hierarchy prioritizes the inputs to valuations used to measure fair value into three levels. The level in the fair value hierarchy within which the fair value measurement falls is determined based on the lowest level input that is significant to the fair value measurement. The levels of the fair value hierarchy are as follows: Level 1. Level 2. a) Quoted prices for similar assets or liabilities in active markets; b) Quoted prices for identical or similar assets or liabilities in non-active c) Pricing models whose inputs are observable for substantially the full term of the asset or liability; and d) Pricing models whose inputs are derived principally from or corroborated by observable market data through correlation or other means for substantially the full term of the asset or liability. Level 3. When the inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement in its entirety. For example, a Level 3 fair value measurement may include inputs that are observable (Levels 1 and 2) and unobservable (Level 3). Gains and losses for assets and liabilities categorized within the Level 3 table below may include changes in fair value that are attributable to both observable inputs (Levels 1 and 2) and unobservable inputs (Level 3). A review of fair value hierarchy classifications is conducted on a quarterly basis. Changes in the observability of valuation inputs may result in a reclassification for certain financial assets or liabilities. Such reclassifications involving Level 3 assets and liabilities are reported as transfers in/out of Level 3 as of the end of the quarter in which the reclassifications occur. Within the fair value hierarchy tables below, cash and cash equivalents are excluded but could be classified as Level 1. The following tables present the balances of assets and liabilities measured at fair value on a recurring basis, as of September 30, 2022 and December 31, 2021: Fair Value Measurements As of September 30, 2022 Level 1 Level 2 Level 3 Total Assets: Senior Secured Loans $ — $ — $ 1,352,503 $ 1,352,503 Equipment Financing — — 238,553 238,553 Preferred Equity — — 4,176 4,176 Common Equity/Equity Interests/Warrants 620 — 559,509 560,129 Total Investments$ $ 620 $ — $ 2,154,741 $ 2,155,361 Fair Value Measurements As of December 31, 2021 Level 1 Level 2 Level 3 Total Assets: Senior Secured Loans $ — $ — $ 939,690 $ 939,690 Equipment Financing — — 273,795 273,795 Preferred Equity — — 5,630 5,630 Common Equity/Equity Interests/Warrants 1,086 — 450,381 451,467 Total Investments$ $ 1,086 $ — $ 1,669,496 $ 1,670,582 Liabilities: 2022 Unsecured Notes $ — $ — $ 150,000 $ 150,000 The following tables provide a summary of the changes in fair value of Level 3 assets and liabilities for the three and nine months ended September 30, 2022, as well as the portion of gains or losses included in income attributable to unrealized gains or losses related to those assets and liabilities still held at September 30, 2022: Fair Value Measurements Using Level 3 Inputs Senior Secured Equipment Financing Preferred Equity Common Equity/ Total Fair value, June 30, 2022 $ 1,178,247 $ 255,978 $ 4,405 $ 554,597 $ 1,993,227 Total gains or losses included in earnings: Net realized loss (37,231 ) — — — (37,231 ) Net change in unrealized gain (loss) 34,518 (3,849 ) 59 (139 ) 30,589 Purchase of investment securities 228,399 15,581 67 5,051 249,098 Proceeds from dispositions of investment securities (51,430 ) (29,157 ) (355 ) — (80,942 ) Transfers in/out of Level 3 — — — — — Fair value, September 30, 2022 $ 1,352,503 $ 238,553 $ 4,176 $ 559,509 $ 2,154,741 Unrealized gains (losses) for the period relating to those Level 3 assets that were still held by the Company at the end of the period: Net change in unrealized gain (loss) $ 781 $ (3,849 ) $ 59 $ (139 ) $ (3,148 ) Senior Secured Equipment Financing Preferred Equity Common Equity/ Total Fair value, December 31, 2021 $ 939,690 $ 273,795 $ 5,630 $ 450,381 $ 1,669,496 Total gains or losses included in earnings: Net realized loss (37,191 ) — — — (37,191 ) Net change in unrealized loss (1,890 ) (6,828 ) (658 ) (7,121 ) (16,497 ) Purchase of investment securities(1) 639,306 44,202 202 116,249 799,959 Proceeds from dispositions of investment securities (187,412 ) (72,616 ) (998 ) — (261,026 ) Transfers in/out of Level 3 — — — — — Fair value, September 30, 2022 $ 1,352,503 $ 238,553 $ 4,176 $ 559,509 $ 2,154,741 Unrealized losses for the period relating to those Level 3 assets that were still held by the Company at the end of the period: Net change in unrealized loss $ (2,744 ) $ (6,828 ) $ (658) $ (7,121 ) $ (17,351 ) (1) Includes positions acquired from SUNS as a result of the Merger. The following table shows a reconciliation of the beginning and ending balances for fair valued liabilities measured using significant unobservable inputs (Level 3) for the three and nine months ended September 30, 2022: 2022 Unsecured Notes For the three months ended Beginning fair value $ — Net realized (gain) loss — Net change in unrealized (gain) loss — Borrowings — Repayments — Transfers in/out of Level 3 — Ending fair value $ — 2022 Unsecured Notes For the nine months ended Beginning fair value $ 150,000 Net realized (gain) loss — Net change in unrealized (gain) loss — Borrowings — Repayments (150,000 ) Transfers in/out of Level 3 — Ending fair value $ — The Company made an election to apply the fair value option of accounting to the 2022 Unsecured Notes, in accordance with ASC 825-10. The following table provides a summary of the changes in fair value of Level 3 assets for the year ended December 31, 2021, as well as the portion of gains or losses included in income attributable to unrealized gains or losses related to those assets still held at December 31, 2021: Fair Value Measurements Using Level 3 Inputs Senior Secured Equipment Financing Preferred Equity Common Equity/ Total Fair value, December 31, 2020 $ 798,052 $ 284,846 $ 6,401 $ 440,971 $ 1,530,270 Total gains or losses included in earnings: Net realized gain (loss) — (8 ) — 345 337 Net change in unrealized gain (loss) (13,567 ) 1,394 (1,042 ) 9,857 (3,358 ) Purchase of investment securities 533,614 76,700 271 — 610,585 Proceeds from dispositions of investment securities (378,409 ) (89,137 ) — (675 ) (468,221 ) Transfers in/out of Level 3 (1) — — — (117 ) (117 ) Fair value, December 31, 2021 $ 939,690 $ 273,795 $ 5,630 $ 450,381 $ 1,669,496 Unrealized gains (losses) for the period relating to those Level 3 assets that were still held by the Company at the end of the period: Net change in unrealized gain (loss) $ (12,837 ) $ 1,394 $ (1,042 ) $ 9,597 $ (2,888 ) (1) On February 17, 2021, the Company exercised its warrants in Senseonics Holdings, Inc., receiving shares in the common stock of Senseonics Holdings, Inc. The common stock of Senseonics Holdings, Inc. is publicly traded, so this position is considered to be a Level 1 asset. The following table shows a reconciliation of the beginning and ending balances for fair valued liabilities measured using significant unobservable inputs (Level 3) for the year ended December 31, 2021: 2022 Unsecured Notes For the year ended Beginning fair value $ 150,000 Net realized (gain) loss — Net change in unrealized (gain) loss — Borrowings — Repayments — Transfers in/out of Level 3 — Ending fair value $ 150,000 The Company made elections to apply the fair value option of accounting to the 2022 Unsecured Notes, in accordance with ASC 825-10. Quantitative Information about Level 3 Fair Value Measurements The Company typically determines the fair value of its performing debt investments utilizing a yield analysis. In a yield analysis, a price is ascribed for each investment based upon an assessment of current and expected market yields for similar investments and risk profiles. Additional consideration is given to current contractual interest rates, relative maturities and other key terms and risks associated with an investment. Among other factors, a significant determinant of risk is the amount of leverage used by the portfolio company relative to the total enterprise value of the company, and the rights and remedies of our investment within each portfolio company. Significant unobservable quantitative inputs typically used in the fair value measurement of the Company’s Level 3 assets and liabilities primarily reflect current market yields, including indices, and readily available quotes from brokers, dealers, and pricing services as indicated by comparable assets and liabilities, as well as enterprise values, returns on equity and earnings before income taxes, depreciation and amortization (“EBITDA”) multiples of similar companies, and comparable market transactions for equity securities. Quantitative information about the Company’s Level 3 asset and liability fair value measurements as of September 30, 2022 is summarized in the table below: Asset or Fair Value at Principal Valuation Unobservable Input Range (Weighted Senior Secured Loans Asset $ $ 1,320,263 32,240 Income Approach Market Multiple (1) Market Yield Comparable Multiple 7.6% – 17.8% (10.9%) 0.1x-21.4x(12.0x) Equipment Financing Asset $ $ 117,733 120,820 Income Approach Market Multiple (2) Market Yield Comparable Multiple 8.5% – 9.7% (9.7%) 1.0x-1.28x Preferred Equity Asset $ 4,176 Income Approach Market Yield 5.0% – 5.0% (5.0%) Common Equity/Equity Interests/Warrants Asset $ $ 147,629 411,880 Market Multiple (3) Market Approach Comparable Multiple Return on Equity 7.0x – 9.3x (8.1x) 6.3% – 37.7% (9.7%) (1) Investments are valued using a sum-of-the (2) Includes $120,820 of investments valued using a transaction multiple. (3) Includes $624 of investments valued using a Black-Scholes model and $147,005 of investments valued using an EBITDA multiple. Quantitative information about the Company’s Level 3 asset and liability fair value measurements as of December 31, 2021 is summarized in the table below: Asset or Fair Value at Principal Valuation Unobservable Input Range (Weighted Senior Secured Loans Asset $ $ 931,769 7,921 Income Approach Market Multiple (1) Market Yield Comparable Multiple 4.0% – 19.6% (8.7%) 2.0x-3.0x(2.5x)/2.0x-3.0x(2.5x) Equipment Financing Asset $ $ 144,693 129,102 Income Approach Market Approach Market Yield Return on Equity 7.1% – 20.3% (9.8%) 4.6%-4.6% Preferred Equity Asset $ 5,630 Income Approach Market Yield 3.5% – 8.0% (4.4%) Common Equity/Equity Interests/Warrants Asset $ $ 151,615 298,766 Market Multiple (2) Market Approach Comparable Multiple Return on Equity 5.8x – 10.5x (9.5x) 6.1% – 18.5% (8.6%) 2022 Unsecured Notes Liability $ 150,000 Income Approach Market Yield 2.2% – 4.6% (4.5%) (1) Investments are valued using a sum-of-the (2x-3x) (2x-3x) (2) Includes $403 of investments valued using a Black-Scholes model and $151,212 of investments valued using an EBITDA multiple. Significant increases or decreases in any of the above unobservable inputs in isolation, including unobservable inputs used in deriving bid-ask |
Debt
Debt | 9 Months Ended |
Sep. 30, 2022 | |
Debt Instruments [Abstract] | |
Debt | Note 7. Debt Our debt obligations consisted of the following as of September 30, 2022 and December 31, 2021: September 30, 2022 December 31, 2021 Facility Face Amount Carrying Value Face Amount Carrying Value Credit Facility $ 460,000 $ 454,868 (1) $ 322,500 $ 318,015 (1) SPV Credit Facility 130,200 129,236 (2) — — 2022 Unsecured Notes — — 150,000 150,000 2022 Tranche C Notes 21,000 20,991 (3) 21,000 20,964 (3) 2023 Unsecured Notes 75,000 74,881 (4) 75,000 74,592 (4) 2024 Unsecured Notes 125,000 124,350 (5) 125,000 124,143 (5) 2025 Unsecured Notes 85,000 84,572 (6) — — 2026 Unsecured Notes 75,000 74,468 (7) 75,000 74,384 (7) 2027 Unsecured Notes 50,000 49,950 (8) 50,000 49,940 (8) 2027 Series F Unsecured Notes 135,000 134,975 (9) — — $ 1,156,200 $ 1,148,291 $ 818,500 $ 812,038 (1) Carrying Value equals the Face Amount net of unamortized debt issuance costs of $5,132 and $4,485 as of September 30, 2022 and December 31, 2021, respectively. (2) Carrying Value equals the Face Amount net of unamortized market discount of $964 as of September 30, 2022. (3) Carrying Value equals the Face Amount net of unamortized debt issuance costs of $9 and $36 as of September 30, 2022 and December 31, 2021, respectively. (4) Carrying Value equals the Face Amount net of unamortized debt issuance costs of $119 and $408 as of September 30, 2022 and December 31, 2021, respectively. (5) Carrying Value equals the Face Amount net of unamortized debt issuance costs of $650 and $857 as of September 30, 2022 and December 31, 2021, respectively. (6) Carrying Value equals the Face Amount net of unamortized market discount of $428 as of September 30, 2022. (7) Carrying Value equals the Face Amount net of unamortized debt issuance costs of $532 and $616 as of September 30, 2022 and December 31, 2021, respectively. (8) Carrying Value equals the Face Amount net of unamortized debt issuance costs of $50 and $60 as of September 30, 2022 and December 31, 2021, respectively. (9) Carrying Value equals the Face Amount net of unamortized debt issuance costs of $25 as of September 30, 2022. Unsecured Notes On April 1, 2022, the Company entered into an assumption agreement (the “Note Assumption Agreement”), effective as of the closing of the Mergers. The Note Assumption Agreement relates to the Company’s assumption of $85,000 in aggregate principal amount of five-year, 3.90% senior unsecured notes, due March 31, 2025 (the “2025 Unsecured Notes”) and other obligations of SUNS under the Note Purchase Agreement, dated as of March 31, 2020 (the “Note Purchase Agreement”), among SUNS and certain institutional investors. Interest on the 2025 Unsecured Notes is due semi-annually on March 31 and September 30. Pursuant to the Note Assumption Agreement, the Company expressly assumed on behalf of SUNS the due and punctual payment of the principal of (and premium, if any) and interest on all the 2025 Unsecured Notes outstanding, and the due and punctual performance and observance of every covenant and every condition of the Note Purchase Agreement, to be performed or observed by SUNS. On January 6, 2022, the Company closed a private offering of $135,000 of the 2027 Series F Unsecured Notes with a fixed interest rate of 3.33% and a maturity date of January 6, 2027. Interest on the 2027 Series F Unsecured Notes is due semi-annually on January 6 and July 6. The 2027 Series F Unsecured Notes were issued in a private placement only to qualified institutional buyers. On September 14, 2021, the Company closed a private offering of $50,000 of the 2027 Unsecured Notes with a fixed interest rate of 2.95% and a maturity date of March 14, 2027. Interest on the 2027 Unsecured Notes is due semi-annually on March 14 and September 14. The 2027 Unsecured Notes were issued in a private placement only to qualified institutional buyers. On December 18, 2019, the Company closed a private offering of $125,000 of the 2024 Unsecured Notes with a fixed interest rate of 4.20% and a maturity date of December 15, 2024. Interest on the 2024 Unsecured Notes is due semi-annually on June 15 and December 15. The 2024 Unsecured Notes were issued in a private placement only to qualified institutional buyers. On December 18, 2019, the Company closed a private offering of $75,000 of the 2026 Unsecured Notes with a fixed interest rate of 4.375% and a maturity date of December 15, 2026. Interest on the 2026 Unsecured Notes is due semi-annually on June 15 and December 15. The 2026 Unsecured Notes were issued in a private placement only to qualified institutional buyers. On December 28, 2017, the Company closed a private offering of $21,000 of the 2022 Tranche C Notes with a fixed interest rate of 4.50% and a maturity date of December 28, 2022. Interest on the 2022 Tranche C Notes is due semi-annually on June 28 and December 28. The 2022 Tranche C Notes were issued in a private placement only to qualified institutional buyers. On November 22, 2017, we issued $75,000 in aggregate principal amount of publicly registered 2023 Unsecured Notes for net proceeds of $73,846. Interest on the 2023 Unsecured Notes is paid semi-annually on January 20 and July 20, at a fixed rate of 4.50% per year, commencing on January 20, 2018. The 2023 Unsecured Notes mature on January 20, 2023. On February 15, 2017, the Company closed a private offering of $100,000 of the 2022 Unsecured Notes with a fixed interest rate of 4.60% and a maturity date of May 8, 2022. Interest on the 2022 Unsecured Notes is due semi-annually on May 8 and November 8. The 2022 Unsecured Notes were issued in a private placement only to qualified institutional buyers. On November 8, 2016, the Company closed a private offering of $50,000 of the 2022 Unsecured Notes with a fixed interest rate of 4.40% and a maturity date of May 8, 2022 Revolving and Term Loan Facilities On April 1, 2022, the Company entered into an assumption agreement (the “CF Assumption Agreement”), effective as of the closing of the Mergers. The CF Assumption Agreement relates to the Company’s assumption of the Revolving Credit Facility, originally entered into on August 26, 2011 (as amended from time to time, the “SPV Credit Facility”), by and among SUNS SPV LLC (the “SUNS SPV”), a wholly-owned subsidiary of SUNS, acting as borrower, Citibank, N.A., acting as administrative agent and collateral agent, and the other parties thereto. Currently, the commitment under the SPV Credit Facility is $225,000; however, the commitment can also be expanded up to $600,000. The stated interest rate on the SPV Credit Facility is LIBOR plus 2.00%-2.50% On December 28, 2021, the Company closed on Amendment No. 1 to its August 28, 2019 senior secured credit agreement (the “Credit Facility”). Following the amendment, the Credit Facility is composed of $600,000 of revolving credit and $100,000 of term loans. Borrowings generally bear interest at a rate per annum equal to the base rate plus a range of 1.75%-2.00% 0.75%-1.00%. Certain covenants on our issued debt may restrict our business activities, including limitations that could hinder our ability to finance additional loans and investments or to make the distributions required to maintain our status as a RIC under Subchapter M of the Code. The average annualized interest cost for all borrowings for the nine months ended September 30, 2022 and the year ended December 31, 2021 was 3.81% and 3.64%, respectively. These costs are exclusive of other credit facility expenses such as unused fees, agency fees and other prepaid expenses related to establishing and/or amending the Credit Facility, the SPV Credit Facility, the 2022 Unsecured Notes, the 2022 Tranche C Notes, the 2023 Unsecured Notes, the 2024 Unsecured Notes, the 2025 Unsecured Notes, the 2026 Unsecured Notes, the 2027 Unsecured Notes and the 2027 Series F Unsecured Notes (collectively the “Debt Instruments”), if any. The maximum amounts borrowed on the Debt Instruments during the nine months ended September 30, 2022 and the year ended December 31, 2021 were $1,157,100 and $902,550, respectively. |
Financial Highlights
Financial Highlights | 9 Months Ended |
Sep. 30, 2022 | |
Investment Company, Financial Highlights [Abstract] | |
Financial Highlights | Note 8. Financial Highlights The following is a schedule of financial highlights for the nine months ended September 30, 2022 and 2021: Nine months ended Nine months ended Per Share Data: (a) Net asset value, beginning of year $ 19.93 $ 20.16 Net investment income 1.06 1.09 Net realized and unrealized gain (loss) (1.08 )* 0.18 Net increase (decrease) in net assets resulting from operations (0.02 ) 1.27 Issuance of common stock in connection with the Merger (0.31 ) — Distributions to stockholders: From net investment income (1.06 ) (1.23 ) From return of capital (0.17 ) — Net asset value, end of period $ 18.37 $ 20.20 Per share market value, end of period $ 12.32 $ 19.13 Total Return (b)(c) (27.75 %) 16.46 % Net assets, end of period $ 1,006,225 $ 853,490 Shares outstanding, end of period 54,772,651 42,260,826 Ratios to average net assets (c): Net investment income 5.51 % 5.38 % Operating expenses 3.90 %** 4.23 % Interest and other credit facility expenses 3.22 % 2.51 % Total expenses 7.12 %** 6.74 % Average debt outstanding $ 951,995 $ 672,962 Portfolio turnover ratio 13.8 % 20.8 % (a) Calculated using the average shares outstanding method, except for the issuance of common stock in connection with the Merger, which reflects the actual amount per Share for the applicable period. (b) Total return is based on the change in market price per share during the period and takes into account distributions, if any, reinvested in accordance with the dividend reinvestment plan. The market price per share as of December 31, 2021 and December 31, 2020 was $18.43 and $17.51, respectively. Total return does not include a sales load. (c) Not annualized for periods less than one year. * The amount shown may not correspond with the aggregate amount for the period as it includes the effect of the timing of the Merger. ** The ratio of operating expenses to average net assets and the ratio of total expenses to average net assets is shown net of a permanent incentive fee waiver (see note 3). For the nine months ended September 30, 2022, the ratios of operating expenses to average net assets and total expenses to average net assets would be 4.06% and 7.28%, respectively, without the incentive fee waiver. |
SLR Credit Solutions
SLR Credit Solutions | 9 Months Ended |
Sep. 30, 2022 | |
Line of Credit Facility [Abstract] | |
SLR Credit Solution | Note 9. SLR Credit Solutions On December 28, 2012, we acquired an equity interest in Crystal Capital Financial Holdings LLC (“Crystal Financial”) for $275,000 in cash. Crystal Financial owned approximately 98% of the outstanding ownership interest in SLR Credit Solutions (“SLR Credit”), f/k/a Crystal Financial LLC. The remaining financial interest was held by various employees of SLR Credit, through their investment in Crystal Management LP. SLR Credit had a diversified portfolio of 23 loans having a total par value of approximately $400,000 at November 30, 2012 and a $275,000 committed revolving credit facility. On July 28, 2016, the Company purchased Crystal Management LP’s approximately 2% equity interest in SLR Credit for approximately $5,737. Upon the closing of this transaction, the Company holds 100% of the equity interest in SLR Credit. On September 30, 2016, Crystal Capital Financial Holdings LLC was dissolved. As of September 30, 2022, total commitments to the revolving credit facility are $250,000. As of September 30, 2022 SLR Credit had 27 funded commitments to 21 different issuers with total funded loans of approximately $354,853 on total assets of $375,603. As of December 31, 2021 SLR Credit had 22 funded commitments to 19 different issuers with total funded loans of approximately $287,375 on total assets of $347,821. As of September 30, 2022 and December 31, 2021, the largest loan outstanding totaled $34,178 and $35,000, respectively. For the same periods, the average exposure per issuer was $16,898 and $15,125, respectively. SLR Credit’s credit facility, which is non-recourse non-cash |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 10. Commitments and Contingencies Off-Balance The Company had unfunded debt and equity commitments to various revolving and delayed-draw term loans as well as to SLR Credit and SLR Healthcare. The total amount of these unfunded commitments as of September 30, 2022 and December 31, 2021 is $310,204 and $226,733, respectively, comprised of the following: September 30, 2022 December 31, 2021 SLR Credit Solutions* $ 44,263 $ 44,263 Apeel Technology, Inc. 32,786 — World Insurance Associates, LLC 25,554 — CC SAG Holdings Corp. (Spectrum Automotive) 24,346 18,827 Human Interest, Inc. 20,104 — Glooko, Inc. 17,868 25,091 Spectrum Pharmaceuticals, Inc. 12,279 — iCIMS, Inc. 11,577 — BridgeBio Pharma, Inc. 9,016 23,049 BDG Media, Inc. 8,573 — RSC Acquisition, Inc. 8,553 — Arcutis Biotherapeutics, Inc. 8,356 43,470 Atria Wealth Solutions, Inc. 8,215 3,746 Ardelyx, Inc. 7,752 — Luxury Asset Capital, LLC 7,500 — OIS Management Services, LLC 5,205 — Vessco Midco Holdings, LLC 4,098 — One Touch Direct, LLC 4,013 7,226 Kaseya, Inc. 3,936 — Maurices, Incorporated 3,922 5,649 Foundation Consumer Brands, LLC 3,009 2,269 Inszone Mid, LLC 2,790 12,465 Kid Distro Holdings, LLC 2,650 2,650 Plastics Management, LLC 2,424 — Pediatric Home Respiratory Services, LLC 2,380 — Southern Orthodontic Partners Management, LLC 2,292 — Basic Fun, Inc. 2,150 1,935 Copper River Seafoods, Inc. 2,043 — Peter C. Foy & Associates Insurance Services, LLC 1,969 — Orthopedic Care Partners Management, LLC 1,896 — MMIT Holdings, LLC 1,894 2,009 SPAR Marketing Force, Inc. 1,613 — Ivy Fertility Services, LLC 1,571 4,532 NAC Holdings Corporation 1,479 4,765 SLR Healthcare ABL* 1,400 — RxSense Holdings LLC 1,250 — Erie Construction Mid-west, 1,247 — Composite Technology Acquisition Corp. 1,139 — Enverus Holdings, Inc. 1,004 — SLR Equipment Finance 1,000 5,000 American Teleconferencing Services, Ltd. 914 573 SunMed Group Holdings, LLC 843 828 All State Ag Parts, LLC 730 — Ultimate Baked Goods Midco LLC 551 801 BayMark Health Services, Inc. 391 — Pinnacle Treatment Centers, Inc. 387 1,414 GSM Acquisition Corp. 365 — High Street Buyer, Inc. 327 — Tilley Distribution, Inc. 293 — TAUC Management, LLC 287 — RQM+ Corp. — 3,818 Rezolute, Inc. — 5,675 SOC Telemed, Inc. — 4,448 Neuronetics, Inc. — 2,230 Total Commitments $ 310,204 $ 226,733 * The Company controls the funding of the SLR Credit Solutions and SLR Healthcare ABL commitments and may cancel them at its discretion. The credit agreements of the above loan commitments contain customary lending provisions and/or are subject to the portfolio company’s achievement of certain milestones that allow relief to the Company from funding obligations for previously made commitments in instances where the underlying company experiences materially adverse events that affect the financial condition or business outlook for the company. Since these commitments may expire without being drawn upon, unfunded commitments do not necessarily represent future cash requirements or future earning assets for the Company. As of September 30, 2022 and December 31, 2021, the Company had sufficient cash available and/or liquid securities available to fund its commitments and had reviewed them for any appropriate fair value adjustment. |
SLR Equipment Finance
SLR Equipment Finance | 9 Months Ended |
Sep. 30, 2022 | |
Schedule of Equity Method Investments [Line Items] | |
SLR Equipment Finance | Note 13. Kingsbridge Holdings, LLC On November 3, 2020, the Company acquired an 87.5% equity interest in Kingsbridge Holdings, LLC (“KBH”) through KBH Topco LLC (“KBHT”), a newly formed Delaware corporation. KBH is a residual focused independent mid-ticket As of September 30, 2022 and December 31, 2021, KBHT had total assets of $774,619 and $738,425, respectively. For the same periods, debt recourse to KBHT totaled $246,210 and $216,881, respectively, and non-recourse non-cash |
SLR Equipment Finance [Member] | |
Schedule of Equity Method Investments [Line Items] | |
SLR Equipment Finance | Note 11. SLR Equipment Finance On July 31, 2017, we acquired a 100% equity interest in NEF Holdings, LLC, which conducts its business through its wholly-owned subsidiary Nations Equipment Finance, LLC. Effective February 25, 2021, Nations Equipment Finance, LLC and its related companies is doing business as SLR Equipment Finance (“SLR Equipment”). SLR Equipment is an independent equipment finance company that provides senior secured loans and leases primarily to U.S. based companies. We invested $209,866 in cash to effect the transaction, of which $145,000 was invested in the equity of SLR Equipment through our wholly-owned consolidated taxable subsidiary NEFCORP LLC and our wholly-owned consolidated subsidiary NEFPASS LLC and $64,866 was used to purchase certain leases and loans held by SLR Equipment through NEFPASS LLC. Concurrent with the transaction, SLR Equipment refinanced its existing senior secured credit facility into a $150,000 non-recourse As of September 30, 2022, SLR Equipment had 129 funded equipment-backed leases and loans to 59 different customers with a total net investment in leases and loans of approximately $189,254 on total assets of $241,189. As of December 31, 2021, SLR Equipment had 135 funded equipment-backed leases and loans to 61 different customers with a total net investment in leases and loans of approximately $210,986 on total assets of $264,007. As of September 30, 2022 and December 31, 2021, the largest position outstanding totaled $19,272 and $19,207, respectively. For the same periods, the average exposure per customer was $3,208 and $3,459, respectively. SLR Equipment’s credit facility, which is non-recourse non-cash |
Capital Share Transactions
Capital Share Transactions | 9 Months Ended |
Sep. 30, 2022 | |
Stockholders' Equity Note [Abstract] | |
Capital Share Transactions | Note 12. Capital Share Transactions As of September 30, 2022 and September 30, 2021, 200,000,000 shares of $0.01 par value capital stock were authorized. Transactions in capital stock were as follows: Shares Amount Three months ended Three months ended Three months ended Three months ended Shares issued in connection with the Mergers — — $ — $ — Net increase — — $ — $ — Shares Amount Nine months ended Nine months ended Nine months ended Nine months ended Shares issued in connection with the Mergers 12,511,825 — $ 226,839 $ — Net increase 12,511,825 — $ 226,839 $ — |
Kingsbridge Holdings, LLC
Kingsbridge Holdings, LLC | 9 Months Ended |
Sep. 30, 2022 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Kingsbridge Holdings, LLC | Note 13. Kingsbridge Holdings, LLC On November 3, 2020, the Company acquired an 87.5% equity interest in Kingsbridge Holdings, LLC (“KBH”) through KBH Topco LLC (“KBHT”), a newly formed Delaware corporation. KBH is a residual focused independent mid-ticket As of September 30, 2022 and December 31, 2021, KBHT had total assets of $774,619 and $738,425, respectively. For the same periods, debt recourse to KBHT totaled $246,210 and $216,881, respectively, and non-recourse non-cash |
SLR Healthcare ABL
SLR Healthcare ABL | 9 Months Ended |
Sep. 30, 2022 | |
Equity Method Investments and Joint Ventures [Abstract] | |
SLR Healthcare ABL | Note 14. SLR Healthcare ABL SUNS acquired an equity interest in SLR Healthcare ABL, f/k/a Gemino Healthcare Finance, LLC (“SLR Healthcare”) on September 30, 2013. SLR Healthcare is a commercial finance company that originates, underwrites, and manages primarily secured, asset-based loans for small and mid-sized co-invested Concurrent with the closing of the transaction, SLR Healthcare entered into a new, four-year, non-recourse, non-affiliates, SLR Healthcare currently manages a highly diverse portfolio of directly-originated and underwritten senior-secured commitments. As of September 30, 2022, the portfolio totaled approximat e cash-pay non-recourse non-cash may |
SLR Business Credit
SLR Business Credit | 9 Months Ended |
Sep. 30, 2022 | |
Equity Method Investments and Joint Ventures [Abstract] | |
SLR Business Credit | Note 15. SLR Business Credit SUNS acquired 100% of the equity interests of North Mill Capital LLC (“NMC”) on October 20, 2017. NMC is a leading asset-backed lending commercial finance company that provides senior secured asset-backed financings to U.S. based small-to-medium-sized medium-sized SLR Business Credit currently manages a highly diverse portfolio of directly-originated and underwritten senior-secured commitments. As of non-recourse non-cash |
Merger with SUNS
Merger with SUNS | 9 Months Ended |
Sep. 30, 2022 | |
Business Combinations [Abstract] | |
Merger with SUNS | Note 16. Merger with SUNS On December 1, 2021, we entered into the Merger Agreement, which provides that, subject to the conditions set forth in the Merger Agreement, Merger Sub will merge with and into SUNS, with SUNS continuing as the surviving company and as our wholly-owned subsidiary and, immediately thereafter, SUNS will merge with and into us, with us continuing as the surviving company. Both the Board and SUNS’s board of directors, including all of the respective independent directors, in each case, on the recommendation of a special committee comprised solely of the independent directors of us or SUNS, as applicable, have approved the Merger Agreement and the transactions contemplated thereby. The Merger Agreement contains customary representations and warranties by each of us, SUNS and the Investment Adviser. The Merger Agreement also contains customary covenants, including, among others, covenants relating to the operation of each of our and SUNS’s businesses during the period prior to the closing of the Mergers. Consummation of the Mergers, which occurred on April 1, 2022, was subject to certain closing conditions as disclosed in the Merger Agreement. On April 1, 2022, the Company completed its previously announced acquisition of SUNS. Pursuant to the Merger Agreement, Merger Sub was first merged with and into SUNS, with SUNS as the surviving corporation, and, immediately following the Merger, SUNS was then merged with and into the Company, with the Company as the surviving company. In accordance with the terms of the Merger Agreement, at the effective time of the Merger, each outstanding share of SUNS’s common stock was converted into the right to receive 0.7796 shares of the Company’s common stock (with SUNS’s stockholders receiving cash in lieu of fractional shares of the Company’s common stock). As a result of the Mergers, the Company issued an aggregate of 12,511,825 shares of its common stock to former SUNS stockholders. The Merger is accounted for as an asset acquisition of SLR Senior Investment Corp. by the Company in accordance with the asset acquisition method of accounting as detailed in ASC 805-50, “non-qualifying” tax-free The following table summarizes the allocation of the purchase price to the assets acquired and liabilities assumed as a result of the Merger: Common stock issued by the Company (1) $ 227,602 Assets acquired: Investments, at fair value $ 400,105 Cash 2,313 Other assets 4,662 Total assets acquired $ 407,080 Liabilities assumed: Debt, at fair value $ 159,816 Other liabilities 2,573 Total liabilities assumed $ 162,389 Net assets acquired $ 244,691 Total purchase discount $ (17,089 ) (1) Based on the market price at closing of $18.13, adjusted for transaction costs. Letter Agreement On April 1, 2022, in connection with the consummation of the Mergers, the Company entered into a letter agreement (the “Letter Agreement”) pursuant to which the Investment Adviser voluntarily agreed to a permanent 25 basis point reduction of the annual base management fee rate payable by the Company to the Investment Adviser pursuant to the Advisory Agreement, resulting in an annual base management fee rate payable by the Company to the Investment Adviser of 1.50% on gross assets up to 200% of the Company’s total net assets. The Company retained the annual base management fee rate payable by the Company to the Investment Adviser of 1.00% on gross assets that exceed 200% of the Company’s total net assets. |
Stock Repurchase Program
Stock Repurchase Program | 9 Months Ended |
Sep. 30, 2022 | |
Stockholders' Equity Note [Abstract] | |
Stock Repurchase Program | Note 17. Stock Repurchase Program On May 3, 2022, our Board authorized a program for the purpose of repurchasing up to $50,000 of our outstanding shares of common stock. Under the repurchase program, we may, but are not obligated to, repurchase shares of our outstanding common stock in the open market from time to time provided that we comply with our code of ethics and the guidelines specified in Rule 10b-18 |
Subsequent Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2022 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 18. Subsequent Events The Company has evaluated the need for disclosures and/or adjustments resulting from subsequent events through the date the consolidated financial statements were issued. On October 5, 2022, our Board declared a monthly distribution of $0.136667 per share payable on November 2, 2022 to holders of record as of October 20, 2022. On October 12, 2022, the Company entered into a joint venture agreement with SunStone Senior Credit L.P. (the “Investor”) to create SLR Senior Lending Program LLC (“SSLP”). The joint venture is expected to invest primarily in senior secured cash flow loans. The Company and the Investor each have made initial equity commitments of $50,000, resulting in a total equity commitment of $100,000. SSLP intends to seek third party financing to allow the joint venture to utilize leverage. The Company and the Investor expect to begin funding SSLP with investments prior to the end of 2022. Investment decisions and all material decisions in respect of SSLP must be approved by representatives of the Company and the Investor. On November 2, 2022, our Board declared a monthly distribution of $0.136667 per share payable on December 1, 2022 to holders of record as of November 17, 2022. |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In March 2020, the FASB issued Accounting Standards Update No. 2020-04, 2020-04 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Earnings Per Share [Abstract] | |
Summary of Computation of Basic And Diluted Net | The following table sets forth the computation of basic and diluted net increase in net assets per share resulting from operations, pursuant to ASC 260-10, Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 Earnings (loss) per share (basic & diluted) Numerator - net increase (decrease) in net assets resulting from operations: $ 13,528 $ 13,371 $ (655 ) $ 53,448 Denominator - weighted average shares: 54,772,651 42,260,826 50,647,874 42,260,826 Earnings (loss) per share: $ 0.25 $ 0.32 ($ 0.01 ) $ 1.26 |
Fair Value (Tables)
Fair Value (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis | The following tables present the balances of assets and liabilities measured at fair value on a recurring basis, as of September 30, 2022 and December 31, 2021: Fair Value Measurements As of September 30, 2022 Level 1 Level 2 Level 3 Total Assets: Senior Secured Loans $ — $ — $ 1,352,503 $ 1,352,503 Equipment Financing — — 238,553 238,553 Preferred Equity — — 4,176 4,176 Common Equity/Equity Interests/Warrants 620 — 559,509 560,129 Total Investments$ $ 620 $ — $ 2,154,741 $ 2,155,361 Fair Value Measurements As of December 31, 2021 Level 1 Level 2 Level 3 Total Assets: Senior Secured Loans $ — $ — $ 939,690 $ 939,690 Equipment Financing — — 273,795 273,795 Preferred Equity — — 5,630 5,630 Common Equity/Equity Interests/Warrants 1,086 — 450,381 451,467 Total Investments$ $ 1,086 $ — $ 1,669,496 $ 1,670,582 Liabilities: 2022 Unsecured Notes $ — $ — $ 150,000 $ 150,000 |
Summary of Changes in Fair Value of Level 3 Assets and Liabilities | The following tables provide a summary of the changes in fair value of Level 3 assets and liabilities for the three and nine months ended September 30, 2022, as well as the portion of gains or losses included in income attributable to unrealized gains or losses related to those assets and liabilities still held at September 30, 2022: Fair Value Measurements Using Level 3 Inputs Senior Secured Equipment Financing Preferred Equity Common Equity/ Total Fair value, June 30, 2022 $ 1,178,247 $ 255,978 $ 4,405 $ 554,597 $ 1,993,227 Total gains or losses included in earnings: Net realized loss (37,231 ) — — — (37,231 ) Net change in unrealized gain (loss) 34,518 (3,849 ) 59 (139 ) 30,589 Purchase of investment securities 228,399 15,581 67 5,051 249,098 Proceeds from dispositions of investment securities (51,430 ) (29,157 ) (355 ) — (80,942 ) Transfers in/out of Level 3 — — — — — Fair value, September 30, 2022 $ 1,352,503 $ 238,553 $ 4,176 $ 559,509 $ 2,154,741 Unrealized gains (losses) for the period relating to those Level 3 assets that were still held by the Company at the end of the period: Net change in unrealized gain (loss) $ 781 $ (3,849 ) $ 59 $ (139 ) $ (3,148 ) Senior Secured Equipment Financing Preferred Equity Common Equity/ Total Fair value, December 31, 2021 $ 939,690 $ 273,795 $ 5,630 $ 450,381 $ 1,669,496 Total gains or losses included in earnings: Net realized loss (37,191 ) — — — (37,191 ) Net change in unrealized loss (1,890 ) (6,828 ) (658 ) (7,121 ) (16,497 ) Purchase of investment securities(1) 639,306 44,202 202 116,249 799,959 Proceeds from dispositions of investment securities (187,412 ) (72,616 ) (998 ) — (261,026 ) Transfers in/out of Level 3 — — — — — Fair value, September 30, 2022 $ 1,352,503 $ 238,553 $ 4,176 $ 559,509 $ 2,154,741 Unrealized losses for the period relating to those Level 3 assets that were still held by the Company at the end of the period: Net change in unrealized loss $ (2,744 ) $ (6,828 ) $ (658) $ (7,121 ) $ (17,351 ) (1) Includes positions acquired from SUNS as a result of the Merger. Fair Value Measurements Using Level 3 Inputs Senior Secured Equipment Financing Preferred Equity Common Equity/ Total Fair value, December 31, 2020 $ 798,052 $ 284,846 $ 6,401 $ 440,971 $ 1,530,270 Total gains or losses included in earnings: Net realized gain (loss) — (8 ) — 345 337 Net change in unrealized gain (loss) (13,567 ) 1,394 (1,042 ) 9,857 (3,358 ) Purchase of investment securities 533,614 76,700 271 — 610,585 Proceeds from dispositions of investment securities (378,409 ) (89,137 ) — (675 ) (468,221 ) Transfers in/out of Level 3 (1) — — — (117 ) (117 ) Fair value, December 31, 2021 $ 939,690 $ 273,795 $ 5,630 $ 450,381 $ 1,669,496 Unrealized gains (losses) for the period relating to those Level 3 assets that were still held by the Company at the end of the period: Net change in unrealized gain (loss) $ (12,837 ) $ 1,394 $ (1,042 ) $ 9,597 $ (2,888 ) (1) On February 17, 2021, the Company exercised its warrants in Senseonics Holdings, Inc., receiving shares in the common stock of Senseonics Holdings, Inc. The common stock of Senseonics Holdings, Inc. is publicly traded, so this position is considered to be a Level 1 asset. |
Summary of Fair Valued Liabilities measured using Significant Unobservable Inputs (Level 3) | The following table shows a reconciliation of the beginning and ending balances for fair valued liabilities measured using significant unobservable inputs (Level 3) for the three and nine months ended September 30, 2022: 2022 Unsecured Notes For the three months ended Beginning fair value $ — Net realized (gain) loss — Net change in unrealized (gain) loss — Borrowings — Repayments — Transfers in/out of Level 3 — Ending fair value $ — 2022 Unsecured Notes For the nine months ended Beginning fair value $ 150,000 Net realized (gain) loss — Net change in unrealized (gain) loss — Borrowings — Repayments (150,000 ) Transfers in/out of Level 3 — Ending fair value $ — The following table shows a reconciliation of the beginning and ending balances for fair valued liabilities measured using significant unobservable inputs (Level 3) for the year ended December 31, 2021: 2022 Unsecured Notes For the year ended Beginning fair value $ 150,000 Net realized (gain) loss — Net change in unrealized (gain) loss — Borrowings — Repayments — Transfers in/out of Level 3 — Ending fair value $ 150,000 |
Summary of Quantitative Information about the Company's Level 3 Asset and Liability | Quantitative information about the Company’s Level 3 asset and liability fair value measurements as of September 30, 2022 is summarized in the table below: Asset or Fair Value at Principal Valuation Unobservable Input Range (Weighted Senior Secured Loans Asset $ $ 1,320,263 32,240 Income Approach Market Multiple (1) Market Yield Comparable Multiple 7.6% – 17.8% (10.9%) 0.1x-21.4x(12.0x) Equipment Financing Asset $ $ 117,733 120,820 Income Approach Market Multiple (2) Market Yield Comparable Multiple 8.5% – 9.7% (9.7%) 1.0x-1.28x Preferred Equity Asset $ 4,176 Income Approach Market Yield 5.0% – 5.0% (5.0%) Common Equity/Equity Interests/Warrants Asset $ $ 147,629 411,880 Market Multiple (3) Market Approach Comparable Multiple Return on Equity 7.0x – 9.3x (8.1x) 6.3% – 37.7% (9.7%) (1) Investments are valued using a sum-of-the (2) Includes $120,820 of investments valued using a transaction multiple. (3) Includes $624 of investments valued using a Black-Scholes model and $147,005 of investments valued using an EBITDA multiple. Quantitative information about the Company’s Level 3 asset and liability fair value measurements as of December 31, 2021 is summarized in the table below: Asset or Fair Value at Principal Valuation Unobservable Input Range (Weighted Senior Secured Loans Asset $ $ 931,769 7,921 Income Approach Market Multiple (1) Market Yield Comparable Multiple 4.0% – 19.6% (8.7%) 2.0x-3.0x(2.5x)/2.0x-3.0x(2.5x) Equipment Financing Asset $ $ 144,693 129,102 Income Approach Market Approach Market Yield Return on Equity 7.1% – 20.3% (9.8%) 4.6%-4.6% Preferred Equity Asset $ 5,630 Income Approach Market Yield 3.5% – 8.0% (4.4%) Common Equity/Equity Interests/Warrants Asset $ $ 151,615 298,766 Market Multiple (2) Market Approach Comparable Multiple Return on Equity 5.8x – 10.5x (9.5x) 6.1% – 18.5% (8.6%) 2022 Unsecured Notes Liability $ 150,000 Income Approach Market Yield 2.2% – 4.6% (4.5%) (1) Investments are valued using a sum-of-the (2x-3x) (2x-3x) (2) Includes $403 of investments valued using a Black-Scholes model and $151,212 of investments valued using an EBITDA multiple. |
Debt (Tables)
Debt (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Debt Instruments [Abstract] | |
Schedule of Long-term Debt Instruments | Our debt obligations consisted of the following as of September 30, 2022 and December 31, 2021: September 30, 2022 December 31, 2021 Facility Face Amount Carrying Value Face Amount Carrying Value Credit Facility $ 460,000 $ 454,868 (1) $ 322,500 $ 318,015 (1) SPV Credit Facility 130,200 129,236 (2) — — 2022 Unsecured Notes — — 150,000 150,000 2022 Tranche C Notes 21,000 20,991 (3) 21,000 20,964 (3) 2023 Unsecured Notes 75,000 74,881 (4) 75,000 74,592 (4) 2024 Unsecured Notes 125,000 124,350 (5) 125,000 124,143 (5) 2025 Unsecured Notes 85,000 84,572 (6) — — 2026 Unsecured Notes 75,000 74,468 (7) 75,000 74,384 (7) 2027 Unsecured Notes 50,000 49,950 (8) 50,000 49,940 (8) 2027 Series F Unsecured Notes 135,000 134,975 (9) — — $ 1,156,200 $ 1,148,291 $ 818,500 $ 812,038 (1) Carrying Value equals the Face Amount net of unamortized debt issuance costs of $5,132 and $4,485 as of September 30, 2022 and December 31, 2021, respectively. (2) Carrying Value equals the Face Amount net of unamortized market discount of $964 as of September 30, 2022. (3) Carrying Value equals the Face Amount net of unamortized debt issuance costs of $9 and $36 as of September 30, 2022 and December 31, 2021, respectively. (4) Carrying Value equals the Face Amount net of unamortized debt issuance costs of $119 and $408 as of September 30, 2022 and December 31, 2021, respectively. (5) Carrying Value equals the Face Amount net of unamortized debt issuance costs of $650 and $857 as of September 30, 2022 and December 31, 2021, respectively. (6) Carrying Value equals the Face Amount net of unamortized market discount of $428 as of September 30, 2022. (7) Carrying Value equals the Face Amount net of unamortized debt issuance costs of $532 and $616 as of September 30, 2022 and December 31, 2021, respectively. (8) Carrying Value equals the Face Amount net of unamortized debt issuance costs of $50 and $60 as of September 30, 2022 and December 31, 2021, respectively. (9) Carrying Value equals the Face Amount net of unamortized debt issuance costs of $25 as of September 30, 2022. |
Financial Highlights (Tables)
Financial Highlights (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Investment Company, Financial Highlights [Abstract] | |
Schedule of financial highlights | The following is a schedule of financial highlights for the nine months ended September 30, 2022 and 2021: Nine months ended Nine months ended Per Share Data: (a) Net asset value, beginning of year $ 19.93 $ 20.16 Net investment income 1.06 1.09 Net realized and unrealized gain (loss) (1.08 )* 0.18 Net increase (decrease) in net assets resulting from operations (0.02 ) 1.27 Issuance of common stock in connection with the Merger (0.31 ) — Distributions to stockholders: From net investment income (1.06 ) (1.23 ) From return of capital (0.17 ) — Net asset value, end of period $ 18.37 $ 20.20 Per share market value, end of period $ 12.32 $ 19.13 Total Return (b)(c) (27.75 %) 16.46 % Net assets, end of period $ 1,006,225 $ 853,490 Shares outstanding, end of period 54,772,651 42,260,826 Ratios to average net assets (c): Net investment income 5.51 % 5.38 % Operating expenses 3.90 %** 4.23 % Interest and other credit facility expenses 3.22 % 2.51 % Total expenses 7.12 %** 6.74 % Average debt outstanding $ 951,995 $ 672,962 Portfolio turnover ratio 13.8 % 20.8 % (a) Calculated using the average shares outstanding method, except for the issuance of common stock in connection with the Merger, which reflects the actual amount per Share for the applicable period. (b) Total return is based on the change in market price per share during the period and takes into account distributions, if any, reinvested in accordance with the dividend reinvestment plan. The market price per share as of December 31, 2021 and December 31, 2020 was $18.43 and $17.51, respectively. Total return does not include a sales load. (c) Not annualized for periods less than one year. * The amount shown may not correspond with the aggregate amount for the period as it includes the effect of the timing of the Merger. ** The ratio of operating expenses to average net assets and the ratio of total expenses to average net assets is shown net of a permanent incentive fee waiver (see note 3). For the nine months ended September 30, 2022, the ratios of operating expenses to average net assets and total expenses to average net assets would be 4.06% and 7.28%, respectively, without the incentive fee waiver. |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Summary of unfunded debt and equity commitments | The total amount of these unfunded commitments as of September 30, 2022 and December 31, 2021 is $310,204 and $226,733, respectively, comprised of the following: September 30, 2022 December 31, 2021 SLR Credit Solutions* $ 44,263 $ 44,263 Apeel Technology, Inc. 32,786 — World Insurance Associates, LLC 25,554 — CC SAG Holdings Corp. (Spectrum Automotive) 24,346 18,827 Human Interest, Inc. 20,104 — Glooko, Inc. 17,868 25,091 Spectrum Pharmaceuticals, Inc. 12,279 — iCIMS, Inc. 11,577 — BridgeBio Pharma, Inc. 9,016 23,049 BDG Media, Inc. 8,573 — RSC Acquisition, Inc. 8,553 — Arcutis Biotherapeutics, Inc. 8,356 43,470 Atria Wealth Solutions, Inc. 8,215 3,746 Ardelyx, Inc. 7,752 — Luxury Asset Capital, LLC 7,500 — OIS Management Services, LLC 5,205 — Vessco Midco Holdings, LLC 4,098 — One Touch Direct, LLC 4,013 7,226 Kaseya, Inc. 3,936 — Maurices, Incorporated 3,922 5,649 Foundation Consumer Brands, LLC 3,009 2,269 Inszone Mid, LLC 2,790 12,465 Kid Distro Holdings, LLC 2,650 2,650 Plastics Management, LLC 2,424 — Pediatric Home Respiratory Services, LLC 2,380 — Southern Orthodontic Partners Management, LLC 2,292 — Basic Fun, Inc. 2,150 1,935 Copper River Seafoods, Inc. 2,043 — Peter C. Foy & Associates Insurance Services, LLC 1,969 — Orthopedic Care Partners Management, LLC 1,896 — MMIT Holdings, LLC 1,894 2,009 SPAR Marketing Force, Inc. 1,613 — Ivy Fertility Services, LLC 1,571 4,532 NAC Holdings Corporation 1,479 4,765 SLR Healthcare ABL* 1,400 — RxSense Holdings LLC 1,250 — Erie Construction Mid-west, 1,247 — Composite Technology Acquisition Corp. 1,139 — Enverus Holdings, Inc. 1,004 — SLR Equipment Finance 1,000 5,000 American Teleconferencing Services, Ltd. 914 573 SunMed Group Holdings, LLC 843 828 All State Ag Parts, LLC 730 — Ultimate Baked Goods Midco LLC 551 801 BayMark Health Services, Inc. 391 — Pinnacle Treatment Centers, Inc. 387 1,414 GSM Acquisition Corp. 365 — High Street Buyer, Inc. 327 — Tilley Distribution, Inc. 293 — TAUC Management, LLC 287 — RQM+ Corp. — 3,818 Rezolute, Inc. — 5,675 SOC Telemed, Inc. — 4,448 Neuronetics, Inc. — 2,230 Total Commitments $ 310,204 $ 226,733 * The Company controls the funding of the SLR Credit Solutions and SLR Healthcare ABL commitments and may cancel them at its discretion. |
Capital Share Transactions (Tab
Capital Share Transactions (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Stockholders' Equity Note [Abstract] | |
Schedule of Stockholders Equity | Transactions in capital stock were as follows: Shares Amount Three months ended Three months ended Three months ended Three months ended Shares issued in connection with the Mergers — — $ — $ — Net increase — — $ — $ — Shares Amount Nine months ended Nine months ended Nine months ended Nine months ended Shares issued in connection with the Mergers 12,511,825 — $ 226,839 $ — Net increase 12,511,825 — $ 226,839 $ — |
Merger with SUNS (Tables)
Merger with SUNS (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Business Combinations [Abstract] | |
Summary the allocation of the purchase price to the assets acquired and liabilities assumed as a result of the Merger | The following table summarizes the allocation of the purchase price to the assets acquired and liabilities assumed as a result of the Merger: Common stock issued by the Company (1) $ 227,602 Assets acquired: Investments, at fair value $ 400,105 Cash 2,313 Other assets 4,662 Total assets acquired $ 407,080 Liabilities assumed: Debt, at fair value $ 159,816 Other liabilities 2,573 Total liabilities assumed $ 162,389 Net assets acquired $ 244,691 Total purchase discount $ (17,089 ) (1) Based on the market price at closing of $18.13, adjusted for transaction costs. |
Organization - Additional Infor
Organization - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2022 | Feb. 10, 2010 | Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||
Date of commencement of business | Mar. 13, 2007 | |||||
Initial capital of business | $ 1,200,000 | |||||
Percentage of initial capital funded by affiliated parties | 47.04% | |||||
Stock issued during period, shares | 0 | 0 | 12,511,825 | 0 | ||
Stock issued during period, values | $ 0 | $ 0 | $ 226,839 | $ 0 | ||
IPO [Member] | ||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||
Stock issued during period, shares | 5,680,000 | |||||
Over-Allotment Option [Member] | ||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||
Share price | $ 18.5 | |||||
Private Placement [Member] | ||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||
Stock issued during period, shares | 600,000 | |||||
Share price | $ 18.5 | |||||
Common Stock [Member] | ||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||
Stock issued during period, shares | 26,650,000 | |||||
Stock issued during period, values | $ 125,000 |
Significant Accounting Polici_3
Significant Accounting Policies - Additional Information (Details) | 9 Months Ended |
Sep. 30, 2022 | |
Property, Plant and Equipment [Line Items] | |
Percentage of excise tax | 4% |
Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Debt instrument term | 60 days |
Restricted investment term | 90 days |
Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Debt instrument term | 60 days |
Restricted investment term | 30 days |
Agreements - Additional Informa
Agreements - Additional Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Apr. 01, 2022 | Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Agreement [Line Items] | |||||
Management fees | $ 7,890 | $ 7,142 | $ 22,019 | $ 20,842 | |
Administrative fees expense | 1,132 | 1,435 | 3,684 | 4,170 | |
Performance Based Incentive Fees Waiver | 194 | $ 1,552 | |||
Advisory Agreement [Member] | |||||
Agreement [Line Items] | |||||
Pre-incentive fee net investment income Quarter hurdle rate | 1.75% | ||||
Pre-incentive fee net investment income Annual hurdle rate | 7% | ||||
Percentage of cumulative realized capital gain loss | 20% | ||||
Percentage of cumulative net realized gain and unrealized capital appreciation | 20% | ||||
Management fees | 7,890 | 7,142 | $ 22,019 | 20,842 | |
Performance based incentive fees | 4,965 | 698 | 9,699 | 8,444 | |
Administrative fees expense | $ 1,132 | $ 1,435 | $ 3,684 | $ 4,170 | |
Advisory Agreement [Member] | Minimum [Member] | |||||
Agreement [Line Items] | |||||
Percentage of gross assets | 1% | 1% | |||
Percentage of total net assets | 200% | 200% | |||
Percentage of pre-incentive fee net investment income | 100% | ||||
Advisory Agreement [Member] | Maximum [Member] | |||||
Agreement [Line Items] | |||||
Percentage of gross assets | 1.50% | 1.50% | |||
Percentage of total net assets | 200% | 200% | |||
Percentage of pre-incentive fee net investment income | 20% |
Net Asset Value Per Share - Add
Net Asset Value Per Share - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands | Sep. 30, 2022 | Jun. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 |
Net Asset Value Per Share [Abstract] | ||||||
Net assets | $ 1,006,225 | $ 1,015,153 | $ 842,281 | $ 853,490 | $ 857,446 | $ 852,023 |
Net asset value per share | $ 18.37 | $ 19.93 | $ 20.2 | $ 20.16 |
Earnings Per Share - Summary of
Earnings Per Share - Summary of Computation of Basic and Diluted Net (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Earnings (loss) per share (basic & diluted) | ||||
Numerator 0net increase (decrease) in net assets resulting from operations | $ 13,528 | $ 13,371 | $ (655) | $ 53,448 |
Denominator 0weighted average shares, Basic | 54,772,651 | 42,260,826 | 50,647,874 | 42,260,826 |
Denominator 0weighted average shares, Diluted | 54,772,651 | 42,260,826 | 50,647,874 | 42,260,826 |
Earnings (loss) per share, Basic | $ 0.25 | $ 0.32 | $ (0.01) | $ 1.26 |
Earnings (loss) per share, Diluted | $ 0.25 | $ 0.32 | $ (0.01) | $ 1.26 |
Fair Value - Summary of Assets
Fair Value - Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Level 3 | 2022 Unsecured Notes | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liabilities | $ 150,000 | |
Recurring Fair Value | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | $ 2,155,361 | 1,670,582 |
Recurring Fair Value | 2022 Unsecured Notes | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liabilities | 150,000 | |
Recurring Fair Value | Senior Secured Loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 1,352,503 | 939,690 |
Recurring Fair Value | Equipment Financing | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 238,553 | 273,795 |
Recurring Fair Value | Preferred Equity | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 4,176 | 5,630 |
Recurring Fair Value | Common Equity/Equity Interests/Warrants | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 560,129 | 451,467 |
Recurring Fair Value | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 620 | 1,086 |
Recurring Fair Value | Level 1 | 2022 Unsecured Notes | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liabilities | 0 | |
Recurring Fair Value | Level 1 | Senior Secured Loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 0 | 0 |
Recurring Fair Value | Level 1 | Equipment Financing | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 0 | 0 |
Recurring Fair Value | Level 1 | Preferred Equity | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 0 | 0 |
Recurring Fair Value | Level 1 | Common Equity/Equity Interests/Warrants | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 620 | 1,086 |
Recurring Fair Value | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 0 | 0 |
Recurring Fair Value | Level 2 | 2022 Unsecured Notes | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liabilities | 0 | |
Recurring Fair Value | Level 2 | Senior Secured Loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 0 | 0 |
Recurring Fair Value | Level 2 | Equipment Financing | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 0 | 0 |
Recurring Fair Value | Level 2 | Preferred Equity | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 0 | 0 |
Recurring Fair Value | Level 2 | Common Equity/Equity Interests/Warrants | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 0 | 0 |
Recurring Fair Value | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 2,154,741 | 1,669,496 |
Recurring Fair Value | Level 3 | 2022 Unsecured Notes | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liabilities | 150,000 | |
Recurring Fair Value | Level 3 | Senior Secured Loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 1,352,503 | 939,690 |
Recurring Fair Value | Level 3 | Equipment Financing | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 238,553 | 273,795 |
Recurring Fair Value | Level 3 | Preferred Equity | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 4,176 | 5,630 |
Recurring Fair Value | Level 3 | Common Equity/Equity Interests/Warrants | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | $ 559,509 | $ 450,381 |
Fair Value - Summary of Changes
Fair Value - Summary of Changes in Fair Value of Level 3 Assets and Liabilities (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2021 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Opening balance | $ 1,993,227 | $ 1,669,496 | $ 1,530,270 |
Net realized gain (loss) | (37,231) | (37,191) | 337 |
Net change in unrealized gain (loss) | 30,589 | (16,497) | (3,358) |
Purchase of investment securities | 249,098 | 799,959 | 610,585 |
Proceeds from dispositions of investment securities | (80,942) | (261,026) | (468,221) |
Transfers in/out of Level 3 | 0 | 0 | (117) |
Closing balance | 2,154,741 | 2,154,741 | 1,669,496 |
Net change in unrealized gain (loss) | (3,148) | (17,351) | (2,888) |
Senior Secured Loans | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Opening balance | 1,178,247 | 939,690 | 798,052 |
Net realized gain (loss) | (37,231) | (37,191) | 0 |
Net change in unrealized gain (loss) | 34,518 | (1,890) | (13,567) |
Purchase of investment securities | 228,399 | 639,306 | 533,614 |
Proceeds from dispositions of investment securities | (51,430) | (187,412) | (378,409) |
Transfers in/out of Level 3 | 0 | 0 | 0 |
Closing balance | 1,352,503 | 1,352,503 | 939,690 |
Net change in unrealized gain (loss) | 781 | (2,744) | (12,837) |
Equipment Financing | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Opening balance | 255,978 | 273,795 | 284,846 |
Net realized gain (loss) | 0 | 0 | (8) |
Net change in unrealized gain (loss) | (3,849) | (6,828) | 1,394 |
Purchase of investment securities | 15,581 | 44,202 | 76,700 |
Proceeds from dispositions of investment securities | (29,157) | (72,616) | (89,137) |
Transfers in/out of Level 3 | 0 | 0 | 0 |
Closing balance | 238,553 | 238,553 | 273,795 |
Net change in unrealized gain (loss) | (3,849) | (6,828) | 1,394 |
Preferred Equity | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Opening balance | 4,405 | 5,630 | 6,401 |
Net realized gain (loss) | 0 | 0 | 0 |
Net change in unrealized gain (loss) | 59 | (658) | (1,042) |
Purchase of investment securities | 67 | 202 | 271 |
Proceeds from dispositions of investment securities | (355) | (998) | 0 |
Transfers in/out of Level 3 | 0 | 0 | 0 |
Closing balance | 4,176 | 4,176 | 5,630 |
Net change in unrealized gain (loss) | 59 | (658) | (1,042) |
Common Equity/Equity Interests/Warrants | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Opening balance | 554,597 | 450,381 | 440,971 |
Net realized gain (loss) | 0 | 0 | 345 |
Net change in unrealized gain (loss) | (139) | (7,121) | 9,857 |
Purchase of investment securities | 5,051 | 116,249 | 0 |
Proceeds from dispositions of investment securities | 0 | 0 | (675) |
Transfers in/out of Level 3 | 0 | 0 | (117) |
Closing balance | 559,509 | 559,509 | 450,381 |
Net change in unrealized gain (loss) | $ (139) | $ (7,121) | $ 9,597 |
Fair Value - Summary of Fair Va
Fair Value - Summary of Fair Valued Liabilities measured using Significant Unobservable Inputs (Level 3) (Details) - 2022 Unsecured Notes - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2021 | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Beginning fair value | $ 0 | $ 150,000 | $ 150,000 |
Net realized (gain) loss | 0 | 0 | 0 |
Net change in unrealized (gain) loss | 0 | 0 | 0 |
Borrowings | 0 | 0 | 0 |
Repayments | 0 | (150,000) | 0 |
Transfers in/out of Level 3 | 0 | 0 | 0 |
Ending fair value | $ 0 | $ 0 | $ 150,000 |
Fair Value - Summary of Fair _2
Fair Value - Summary of Fair Valued Liabilities measured using Significant Unobservable Inputs (Level 3) (Parenthetical) (Details) $ in Thousands | Dec. 31, 2021 USD ($) |
Level 3 | 2022 Unsecured Notes | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |
Notes payable fair value disclosure | $ 150,000 |
Fair Value - Summary of Quantit
Fair Value - Summary of Quantitative Information about the Company's Level 3 Asset and Liability (Details) - Level 3 - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Dec. 31, 2021 | |
Senior Secured Loans | Income Approach | Market Yield | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets | $ 1,320,263 | $ 931,769 |
Principal Valuation Technique/Methodology | Income Approach | Income Approach |
Unobservable Input | Market Yield | |
Senior Secured Loans | Market Multiple | Comparable Multiple | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets | $ 32,240 | $ 7,921 |
Principal Valuation Technique/Methodology | Market Multiple | Market Multiple |
Unobservable Input | Comparable Multiple | |
Equipment Financing | Income Approach | Market Yield | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets | $ 117,733 | $ 144,693 |
Principal Valuation Technique/Methodology | Income Approach | Income Approach |
Unobservable Input | Market Yield | |
Equipment Financing | Market Multiple | Comparable Multiple | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets | $ 120,820 | |
Principal Valuation Technique/Methodology | Market Multiple | |
Unobservable Input | Comparable Multiple | |
Equipment Financing | Market Approach | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets | $ 129,102 | |
Equipment Financing | Market Approach | Return on Equity | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Principal Valuation Technique/Methodology | Market Approach | |
Unobservable Input | Return on Equity | |
Preferred Equity | Income Approach | Market Yield | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets | $ 4,176 | $ 5,630 |
Principal Valuation Technique/Methodology | Income Approach | Income Approach |
Unobservable Input | Market Yield | |
Common Equity/Equity Interests/Warrants | Market Multiple | Comparable Multiple | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets | $ 147,629 | $ 151,615 |
Principal Valuation Technique/Methodology | Market Multiple | Market Multiple |
Unobservable Input | Comparable Multiple | |
Common Equity/Equity Interests/Warrants | Market Approach | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Unobservable Input | Return on Equity | |
Common Equity/Equity Interests/Warrants | Market Approach | Return on Equity | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets | $ 411,880 | $ 298,766 |
Principal Valuation Technique/Methodology | Market Approach | Market Approach |
Unobservable Input | Return on Equity | |
2022 Unsecured Notes | Income Approach | Market Yield | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets | $ 150,000 | |
Principal Valuation Technique/Methodology | Income Approach | |
Unobservable Input | Market Yield |
Fair Value - Summary of Quant_2
Fair Value - Summary of Quantitative Information about the Company's Level 3 Asset and Liability (Parenthetical) (Details) $ in Thousands | Sep. 30, 2022 USD ($) | Dec. 31, 2021 USD ($) |
Measurement Input, EBITDA Multiple [Member] | Level 3 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Investments at fair value | $ 147,005 | $ 151,212 |
Black Scholes Pricing Model [Member] | Level 3 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Investments at fair value | 624 | 403 |
Senior Secured Loans | Income Approach | Market Yield | Level 3 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Investments at fair value | $ 1,320,263 | $ 931,769 |
Senior Secured Loans | Income Approach | Market Yield | Minimum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Long Term Investments Measurement Input | 7.6 | 4 |
Senior Secured Loans | Income Approach | Market Yield | Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Long Term Investments Measurement Input | 17.8 | 19.6 |
Senior Secured Loans | Income Approach | Market Yield | Weighted Average [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Long Term Investments Measurement Input | 10.9 | 8.7 |
Senior Secured Loans | Market Multiple | Comparable Multiple | Level 3 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Investments at fair value | $ 32,240 | $ 7,921 |
Senior Secured Loans | Market Multiple | Comparable Multiple | Minimum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Long Term Investments Measurement Input | 0.1 | |
Senior Secured Loans | Market Multiple | Comparable Multiple | Minimum [Member] | Measurement Input, EBITDA Multiple [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Long Term Investments Measurement Input | 2 | |
Senior Secured Loans | Market Multiple | Comparable Multiple | Minimum [Member] | Black Scholes Pricing Model [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Long Term Investments Measurement Input | 2 | |
Senior Secured Loans | Market Multiple | Comparable Multiple | Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Long Term Investments Measurement Input | 21.4 | |
Senior Secured Loans | Market Multiple | Comparable Multiple | Maximum [Member] | Measurement Input, EBITDA Multiple [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Long Term Investments Measurement Input | 3 | |
Senior Secured Loans | Market Multiple | Comparable Multiple | Maximum [Member] | Black Scholes Pricing Model [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Long Term Investments Measurement Input | 3 | |
Senior Secured Loans | Market Multiple | Comparable Multiple | Weighted Average [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Long Term Investments Measurement Input | 12 | |
Senior Secured Loans | Market Multiple | Comparable Multiple | Weighted Average [Member] | Measurement Input, EBITDA Multiple [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Long Term Investments Measurement Input | 2.5 | |
Senior Secured Loans | Market Multiple | Comparable Multiple | Weighted Average [Member] | Black Scholes Pricing Model [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Long Term Investments Measurement Input | 2.5 | |
Equipment Financing | Income Approach | Market Yield | Level 3 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Investments at fair value | $ 117,733 | $ 144,693 |
Equipment Financing | Income Approach | Market Yield | Minimum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Long Term Investments Measurement Input | 8.5 | 7.1 |
Equipment Financing | Income Approach | Market Yield | Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Long Term Investments Measurement Input | 9.7 | 20.3 |
Equipment Financing | Income Approach | Market Yield | Weighted Average [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Long Term Investments Measurement Input | 9.7 | 9.8 |
Equipment Financing | Market Multiple | Comparable Multiple | Level 3 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Investments at fair value | $ 120,820 | |
Equipment Financing | Market Multiple | Comparable Multiple | Minimum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Long Term Investments Measurement Input | 1 | |
Equipment Financing | Market Multiple | Comparable Multiple | Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Long Term Investments Measurement Input | 1.28 | |
Equipment Financing | Market Multiple | Comparable Multiple | Weighted Average [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Long Term Investments Measurement Input | 1.14 | |
Equipment Financing | Market Approach | Level 3 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Investments at fair value | $ 129,102 | |
Equipment Financing | Market Approach | Return on Equity | Minimum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Long Term Investments Measurement Input | 4.6 | |
Equipment Financing | Market Approach | Return on Equity | Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Long Term Investments Measurement Input | 4.6 | |
Equipment Financing | Market Approach | Return on Equity | Weighted Average [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Long Term Investments Measurement Input | 4.6 | |
Preferred Equity | Income Approach | Market Yield | Level 3 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Investments at fair value | $ 4,176 | $ 5,630 |
Preferred Equity | Income Approach | Market Yield | Minimum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Long Term Investments Measurement Input | 5 | 3.5 |
Preferred Equity | Income Approach | Market Yield | Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Long Term Investments Measurement Input | 5 | 8 |
Preferred Equity | Income Approach | Market Yield | Weighted Average [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Long Term Investments Measurement Input | 5 | 4.4 |
2022 Unsecured Notes | Income Approach | Market Yield | Level 3 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Investments at fair value | $ 150,000 | |
2022 Unsecured Notes | Income Approach | Market Yield | Minimum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Long-term Debt, Measurement Input | 2.2 | |
2022 Unsecured Notes | Income Approach | Market Yield | Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Long-term Debt, Measurement Input | 4.6 | |
2022 Unsecured Notes | Income Approach | Market Yield | Weighted Average [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Long-term Debt, Measurement Input | 4.5 | |
Common Equity/Equity Interests/Warrants | Market Multiple | Comparable Multiple | Level 3 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Investments at fair value | $ 147,629 | $ 151,615 |
Common Equity/Equity Interests/Warrants | Market Multiple | Comparable Multiple | Minimum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Long Term Investments Measurement Input | 7 | 5.8 |
Common Equity/Equity Interests/Warrants | Market Multiple | Comparable Multiple | Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Long Term Investments Measurement Input | 9.3 | 10.5 |
Common Equity/Equity Interests/Warrants | Market Multiple | Comparable Multiple | Weighted Average [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Long Term Investments Measurement Input | 8.1 | 9.5 |
Common Equity/Equity Interests/Warrants | Market Approach | Return on Equity | Level 3 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Investments at fair value | $ 411,880 | $ 298,766 |
Common Equity/Equity Interests/Warrants | Market Approach | Return on Equity | Minimum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Long Term Investments Measurement Input | 6.3 | 6.1 |
Common Equity/Equity Interests/Warrants | Market Approach | Return on Equity | Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Long Term Investments Measurement Input | 37.7 | 18.5 |
Common Equity/Equity Interests/Warrants | Market Approach | Return on Equity | Weighted Average [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Long Term Investments Measurement Input | 9.7 | 8.6 |
Debt - Schedule of Long-term De
Debt - Schedule of Long-term Debt Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Debt Instrument [Line Items] | ||
Face Amount | $ 1,156,200 | $ 818,500 |
Total | 1,148,291 | 812,038 |
Credit Facility | ||
Debt Instrument [Line Items] | ||
Face Amount | 460,000 | 322,500 |
Credit Facility, Carrying Value | 454,868 | 318,015 |
SPV Credit Facility | ||
Debt Instrument [Line Items] | ||
Face Amount | 130,200 | 0 |
SPV Credit Facility, Carrying Value | 129,236 | 0 |
2022 Unsecured Notes | ||
Debt Instrument [Line Items] | ||
Face Amount | 0 | 150,000 |
Unsecured Debt | 0 | 150,000 |
2022 Tranche C Notes | ||
Debt Instrument [Line Items] | ||
Face Amount | 21,000 | 21,000 |
Unsecured Debt | 20,991 | 20,964 |
2023 Unsecured Notes | ||
Debt Instrument [Line Items] | ||
Face Amount | 75,000 | 75,000 |
Unsecured Debt | 74,881 | 74,592 |
2024 Unsecured Notes | ||
Debt Instrument [Line Items] | ||
Face Amount | 125,000 | 125,000 |
Unsecured Debt | 124,350 | 124,143 |
2025 Unsecured Notes | ||
Debt Instrument [Line Items] | ||
Face Amount | 85,000 | 0 |
Unsecured Debt | 84,572 | 0 |
2026 Unsecured Notes | ||
Debt Instrument [Line Items] | ||
Face Amount | 75,000 | 75,000 |
Unsecured Debt | 74,468 | 74,384 |
2027 Unsecured Notes | ||
Debt Instrument [Line Items] | ||
Face Amount | 50,000 | 50,000 |
Unsecured Debt | 49,950 | 49,940 |
2027 Series F Unsecured Notes | ||
Debt Instrument [Line Items] | ||
Face Amount | 135,000 | 0 |
Unsecured Debt | $ 134,975 | $ 0 |
Debt - Schedule of Long-term _2
Debt - Schedule of Long-term Debt Instruments (Parenthetical) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Credit Facility | ||
Debt Instrument [Line Items] | ||
Long term debt unamortized debt issuance costs | $ 5,132 | $ 4,485 |
SPV Credit Facility | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Unamortized Discount | 964 | |
2022 Tranche C Notes | ||
Debt Instrument [Line Items] | ||
Long term debt unamortized debt issuance costs | 9 | 36 |
2023 Unsecured Notes | ||
Debt Instrument [Line Items] | ||
Long term debt unamortized debt issuance costs | 119 | 408 |
2024 Unsecured Notes | ||
Debt Instrument [Line Items] | ||
Long term debt unamortized debt issuance costs | 650 | 857 |
2025 Unsecured Notes | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Unamortized Discount | 428 | |
2026 Unsecured Notes | ||
Debt Instrument [Line Items] | ||
Long term debt unamortized debt issuance costs | 532 | 616 |
2027 Unsecured Notes | ||
Debt Instrument [Line Items] | ||
Long term debt unamortized debt issuance costs | 50 | $ 60 |
2027 Series F Unsecured Notes | ||
Debt Instrument [Line Items] | ||
Long term debt unamortized debt issuance costs | $ 25 |
Debt - Additional Information (
Debt - Additional Information (Details) - USD ($) | 3 Months Ended | 4 Months Ended | 6 Months Ended | 9 Months Ended | 11 Months Ended | 12 Months Ended | 14 Months Ended | 49 Months Ended | |||||||||||||
Dec. 31, 2021 | Dec. 31, 2019 | Dec. 31, 2017 | Sep. 30, 2022 | Dec. 31, 2011 | Jun. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2017 | Dec. 31, 2021 | Dec. 31, 2017 | Dec. 31, 2021 | Apr. 01, 2022 | Jan. 06, 2022 | Dec. 28, 2021 | Sep. 14, 2021 | Dec. 18, 2019 | Dec. 28, 2017 | Nov. 22, 2017 | Feb. 15, 2017 | Nov. 08, 2016 | Aug. 26, 2011 | |
Debt Instrument [Line Items] | |||||||||||||||||||||
Debt instrument face value | $ 818,500,000 | $ 1,156,200,000 | $ 1,156,200,000 | $ 818,500,000 | $ 818,500,000 | ||||||||||||||||
Long term debt weighted average interest over a period of time | 3.81% | 3.64% | |||||||||||||||||||
Long term debt maximum amount borrowed during the period | $ 1,157,100,000 | $ 902,550,000 | |||||||||||||||||||
Credit Facility One [Member] | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Debt instrument face value | $ 85,000,000 | $ 85,000,000 | $ 85,000,000 | ||||||||||||||||||
Long term debt term | 5 years | 5 years | |||||||||||||||||||
Debt instrument maturity date | Mar. 31, 2025 | ||||||||||||||||||||
Debt instrument payment terms | Interest on the 2025 Unsecured Notes is due semi-annually on March 31 and September 30 | ||||||||||||||||||||
Debt instrument stated interest rate percentage | 3.90% | 3.90% | |||||||||||||||||||
Line of credit | 0 | $ 129,236,000 | $ 129,236,000 | 0 | 0 | ||||||||||||||||
Two Thousand And Twenty Seven Series F Unsecured Notes [Member] | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Debt instrument face value | $ 135,000,000 | $ 135,000,000 | $ 135,000,000 | ||||||||||||||||||
Debt instrument maturity date | Jan. 06, 2027 | ||||||||||||||||||||
Debt instrument payment terms | Interest on the 2027 Series F Unsecured Notes is due semi-annually on January 6 and July 6 | ||||||||||||||||||||
Debt instrument stated interest rate percentage | 3.33% | 3.33% | |||||||||||||||||||
Two Thousand And Twenty Four Unsecured Notes [Member] | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Debt instrument face value | 125,000,000 | $ 125,000,000 | $ 125,000,000 | 125,000,000 | 125,000,000 | $ 125,000,000 | |||||||||||||||
Debt instrument maturity date | Dec. 15, 2024 | ||||||||||||||||||||
Debt instrument payment terms | Interest on the 2024 Unsecured Notes is due semi-annually on June 15 and December 15 | ||||||||||||||||||||
Debt instrument stated interest rate percentage | 4.20% | 4.20% | |||||||||||||||||||
Two Thousand And Twenty Six Unsecured Notes [Member] | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Debt instrument face value | $ 75,000,000 | $ 75,000,000 | $ 75,000,000 | $ 75,000,000 | $ 75,000,000 | $ 75,000,000 | |||||||||||||||
Debt instrument stated interest rate percentage | 4.375% | 4.375% | 4.375% | 4.375% | 4.375% | ||||||||||||||||
Two Thousand And Twenty Two Tranche C Notes [Member] | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Debt instrument face value | $ 21,000,000 | $ 21,000,000 | $ 21,000,000 | $ 21,000,000 | $ 21,000,000 | $ 21,000,000 | |||||||||||||||
Debt instrument maturity date | Dec. 15, 2026 | ||||||||||||||||||||
Debt instrument payment terms | Interest on the 2022 Tranche C Notes is due semi-annually on June 28 and December 28 | ||||||||||||||||||||
Debt instrument stated interest rate percentage | 4.50% | 4.50% | 4.50% | 4.50% | 4.50% | ||||||||||||||||
Two Thousand And Twenty Two Tranche C Notes [Member] | Tranche One [Member] | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Debt instrument face value | $ 100,000,000 | $ 100,000,000 | $ 100,000,000 | $ 100,000,000 | $ 100,000,000 | $ 100,000,000 | |||||||||||||||
Debt instrument maturity date | May 08, 2022 | ||||||||||||||||||||
Debt instrument payment terms | Interest on the 2022 Unsecured Notes is due semi-annually on May 8 and November 8 | ||||||||||||||||||||
Debt instrument stated interest rate percentage | 4.60% | 4.60% | 4.60% | 4.60% | |||||||||||||||||
Two Thousand And Twenty Two Tranche C Notes [Member] | Tranche Two [Member] | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Debt instrument face value | $ 50,000,000 | 50,000,000 | 50,000,000 | $ 50,000,000 | $ 50,000,000 | $ 50,000,000 | |||||||||||||||
Debt instrument payment terms | Interest on the 2022 Unsecured Notes is due semi-annually on May 8 and November 8 | ||||||||||||||||||||
Debt instrument stated interest rate percentage | 4.40% | 4.40% | 4.40% | 4.40% | |||||||||||||||||
Two Thousand And Twenty Three Unsecured Notes [Member] | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Debt instrument face value | $ 75,000,000 | $ 75,000,000 | $ 75,000,000 | $ 75,000,000 | $ 75,000,000 | $ 75,000,000 | |||||||||||||||
Debt instrument maturity date | Jan. 20, 2023 | ||||||||||||||||||||
Debt instrument payment terms | semi-annually on January 20 and July 20 | ||||||||||||||||||||
Debt instrument stated interest rate percentage | 4.50% | 4.50% | 4.50% | 4.50% | 4.50% | ||||||||||||||||
Proceeds from net debt | $ 73,846,000 | ||||||||||||||||||||
Term Loan And Credit Facility [Member] | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Line of credit and term loan outstanding | $ 318,015,000 | $ 454,868,000 | $ 454,868,000 | $ 318,015,000 | $ 318,015,000 | ||||||||||||||||
Term Loan And Credit Facility [Member] | SPV LLC [Member] | Citi Bank NA [Member] | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Debt instrument maturity date | Jun. 01, 2026 | ||||||||||||||||||||
Line of credit and term loan outstanding | $ 130,200,000 | 130,200,000 | |||||||||||||||||||
Line of credit maximum borrowing capacity and debt instrument face value | $ 800,000,000 | ||||||||||||||||||||
Term Loan And Credit Facility [Member] | SPV LLC [Member] | Citi Bank NA [Member] | Line of Credit [Member] | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Line of credit facility, maximum borrowing capacity | 600,000,000 | ||||||||||||||||||||
Other long term debt | 360,000,000 | 360,000,000 | |||||||||||||||||||
Term Loan And Credit Facility [Member] | SPV LLC [Member] | Citi Bank NA [Member] | Term Loan [Member] | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Debt instrument face value | $ 100,000,000 | ||||||||||||||||||||
Line of credit | 100,000,000 | 100,000,000 | |||||||||||||||||||
Term Loan And Credit Facility [Member] | Credit Facility [Member] | Citi Bank NA [Member] | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Line of credit and term loan outstanding | 460,000,000 | $ 460,000,000 | |||||||||||||||||||
Term Loan And Credit Facility [Member] | Maximum [Member] | SPV LLC [Member] | Citi Bank NA [Member] | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Line of credit facility, maximum borrowing capacity | $ 600,000,000 | ||||||||||||||||||||
Debt instrument variable interest rate spread | (1.00%) | (2.00%) | |||||||||||||||||||
Term Loan And Credit Facility [Member] | Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Citi Bank NA [Member] | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Debt instrument variable interest rate spread | (2.50%) | ||||||||||||||||||||
Term Loan And Credit Facility [Member] | Minimum [Member] | SPV LLC [Member] | Citi Bank NA [Member] | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Line of credit facility, maximum borrowing capacity | $ 225,000,000 | ||||||||||||||||||||
Debt instrument variable interest rate spread | 0.75% | 1.75% | |||||||||||||||||||
Term Loan And Credit Facility [Member] | Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Citi Bank NA [Member] | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Debt instrument variable interest rate spread | 2% | ||||||||||||||||||||
Two Thousand And Twenty Seven Unsecured Notes [Member] | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Debt instrument face value | $ 50,000,000 | $ 50,000,000 | $ 50,000,000 | ||||||||||||||||||
Debt instrument stated interest rate percentage | 2.95% | 2.95% | 2.95% | 2.95% | 2.95% |
Financial Highlights - Schedule
Financial Highlights - Schedule of Financial Highlights (Details) - USD ($) $ / shares in Units, $ in Thousands | 9 Months Ended | |||||
Sep. 30, 2022 | Sep. 30, 2021 | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | |
Per Share Data: | ||||||
Net asset value, beginning of year | $ 19.93 | $ 20.16 | ||||
Per share market value, end of period | 12.32 | 19.13 | $ 18.43 | $ 17.51 | ||
Net investment income | 1.06 | 1.09 | ||||
Net realized and unrealized gain (loss) | (1.08) | 0.18 | ||||
Net increase (decrease) in net assets resulting from operations | (0.02) | 1.27 | ||||
Issuance of common stock in connection with the Merger | (0.31) | 0 | ||||
From net investment income | (1.06) | (1.23) | ||||
From return of capital | (0.17) | 0 | ||||
Net asset value, end of period | $ 18.37 | $ 20.2 | ||||
Total Return (b)(c) | (27.75%) | 16.46% | ||||
Net assets, end of period | $ 1,006,225 | $ 853,490 | $ 1,015,153 | $ 842,281 | $ 857,446 | $ 852,023 |
Shares outstanding, end of period | 54,772,651 | 42,260,826 | 42,260,826 | |||
Ratios to average net assets: | ||||||
Net investment income | 5.51% | 5.38% | ||||
Operating expenses | 3.90% | 4.23% | ||||
Interest and other credit facility expenses | 3.22% | 2.51% | ||||
Total expenses | 7.12% | 6.74% | ||||
Average debt outstanding | $ 951,995 | $ 672,962 | ||||
Portfolio turnover ratio | 13.80% | 20.80% |
Financial Highlights - Schedu_2
Financial Highlights - Schedule of Financial Highlights (Parentheticals) (Details) - $ / shares | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | |
Investment Company, Financial Highlights [Abstract] | ||||
Fair value of common stock per share | $ 12.32 | $ 19.13 | $ 18.43 | $ 17.51 |
Investment company, expense ratio excluding incentive fee | 4.06% | 7.28% |
SLR Credit Solutions - Addition
SLR Credit Solutions - Additional Information (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Jul. 28, 2016 USD ($) | Dec. 28, 2012 USD ($) | Nov. 30, 2012 USD ($) loans | Sep. 30, 2022 USD ($) | Sep. 30, 2021 USD ($) | Sep. 30, 2022 USD ($) issuers fund | Sep. 30, 2021 USD ($) | Dec. 31, 2021 USD ($) issuers fund | |
Assets | $ 2,455,435 | $ 2,455,435 | $ 2,011,011 | |||||
Non-recourse debt | 1,148,291 | 1,148,291 | 812,038 | |||||
Revolving Credit Facility [Member] | ||||||||
Line of credit facility, maximum borrowing capacity | $ 275,000 | |||||||
Crystal Financial [Member] | ||||||||
Line of credit facility, maximum borrowing capacity | $ 400,000 | |||||||
SLR Business Credit Facility [Member] | ||||||||
Line of credit facility, maximum borrowing capacity | 34,178 | $ 34,178 | $ 35,000 | |||||
Business combination, consideration transferred | $ 5,737 | |||||||
Number of funded commitments | fund | 27 | 22 | ||||||
Number of issuers in business credit | issuers | 21 | 19 | ||||||
Long-term line of credit | 354,853 | $ 354,853 | $ 287,375 | |||||
Assets | 375,603 | 375,603 | 347,821 | |||||
Line of credit facility average outstanding amount | 16,898 | 15,125 | ||||||
Net income (loss) | 3,897 | $ 5,445 | 8,557 | $ 12,497 | ||||
Gross income | 8,596 | $ 9,508 | 22,171 | $ 27,239 | ||||
Non-recourse debt | $ 139,497 | 139,497 | $ 100,742 | |||||
SLR Business Credit Facility [Member] | Revolving Credit Facility [Member] | ||||||||
Line of credit facility commitments amount | $ 250,000 | |||||||
SLR Business Credit Facility [Member] | Crystal Financial [Member] | ||||||||
Payment to acquire business | $ 275,000 | |||||||
Equity method investment, ownership percentage | 2% | 98% | ||||||
Number of loans in business credit | loans | 23 | |||||||
SLR Business Credit Facility [Member] | Crystal Capital Financial Holdings LLC [Member] | ||||||||
Equity method investment, ownership percentage | 100% |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Other Commitments [Line Items] | ||
Other Commitment | $ 310,204 | $ 226,733 |
Commitments and Contingencies_2
Commitments and Contingencies - Summary of Unfunded Debt and Equity Commitments (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 | |
Other Commitments [Line Items] | |||
Other Commitment | $ 310,204 | $ 226,733 | |
Unfunded Debt and Equity Commitments [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 310,204 | 226,733 | |
Unfunded Debt and Equity Commitments [Member] | SLR Credit Solutions [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | [1] | 44,263 | 44,263 |
Unfunded Debt and Equity Commitments [Member] | Apeel Technology, Inc [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 32,786 | 0 | |
Unfunded Debt and Equity Commitments [Member] | World Insurance Associates, LLC [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 25,554 | 0 | |
Unfunded Debt and Equity Commitments [Member] | CC SAG Holdings Corp. (Spectrum Automotive) [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 24,346 | 18,827 | |
Unfunded Debt and Equity Commitments [Member] | Glooko, Inc. [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 17,868 | 25,091 | |
Unfunded Debt and Equity Commitments [Member] | Spectrum Pharmaceuticals, Inc. [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 12,279 | 0 | |
Unfunded Debt and Equity Commitments [Member] | iCIMS, Inc. [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 11,577 | 0 | |
Unfunded Debt and Equity Commitments [Member] | BridgeBio Pharma, Inc. [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 9,016 | 23,049 | |
Unfunded Debt and Equity Commitments [Member] | BDG Media, Inc. [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 8,573 | 0 | |
Unfunded Debt and Equity Commitments [Member] | RSC Acquisition, Inc [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 8,553 | 0 | |
Unfunded Debt and Equity Commitments [Member] | Arcutis Biotherapeutics, Inc. [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 8,356 | 43,470 | |
Unfunded Debt and Equity Commitments [Member] | Atria Wealth Solutions, Inc. [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 8,215 | 3,746 | |
Unfunded Debt and Equity Commitments [Member] | Human Interest, Inc [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 20,104 | 0 | |
Unfunded Debt and Equity Commitments [Member] | Ardelyx, Inc [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 7,752 | 0 | |
Unfunded Debt and Equity Commitments [Member] | Luxury Asset Capital, LLC [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 7,500 | 0 | |
Unfunded Debt and Equity Commitments [Member] | OIS Management Services, LLC [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 5,205 | 0 | |
Unfunded Debt and Equity Commitments [Member] | Vessco Midco Holdings, LLC [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 4,098 | 0 | |
Unfunded Debt and Equity Commitments [Member] | One Touch Direct, LLC [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 4,013 | 7,226 | |
Unfunded Debt and Equity Commitments [Member] | Kaseya, Inc [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 3,936 | 0 | |
Unfunded Debt and Equity Commitments [Member] | Maurices, Incorporated [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 3,922 | 5,649 | |
Unfunded Debt and Equity Commitments [Member] | Foundation Consumer Brands, LLC [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 3,009 | 2,269 | |
Unfunded Debt and Equity Commitments [Member] | Inszone Mid, LLC [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 2,790 | 12,465 | |
Unfunded Debt and Equity Commitments [Member] | Kid Distro Holdings, LLC [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 2,650 | 2,650 | |
Unfunded Debt and Equity Commitments [Member] | Plastics Management, LLC [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 2,424 | 0 | |
Unfunded Debt and Equity Commitments [Member] | Pediatric Home Respiratory Services, LLC [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 2,380 | 0 | |
Unfunded Debt and Equity Commitments [Member] | Southern Orthodontic Partners Management, LLC [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 2,292 | 0 | |
Unfunded Debt and Equity Commitments [Member] | Basic Fun, Inc. [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 2,150 | 1,935 | |
Unfunded Debt and Equity Commitments [Member] | Copper River Seafoods, Inc. [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 2,043 | 0 | |
Unfunded Debt and Equity Commitments [Member] | Peter C. Foy & Associates Insurance Services, LLC [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 1,969 | 0 | |
Unfunded Debt and Equity Commitments [Member] | Orthopedic Care Partners Management, LLC [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 1,896 | 0 | |
Unfunded Debt and Equity Commitments [Member] | MMIT Holdings, LLC [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 1,894 | 2,009 | |
Unfunded Debt and Equity Commitments [Member] | SPAR Marketing Force, Inc. [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 1,613 | 0 | |
Unfunded Debt and Equity Commitments [Member] | Ivy Fertility Services, LLC [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 1,571 | 4,532 | |
Unfunded Debt and Equity Commitments [Member] | NAC Holdings Corporation [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 1,479 | 4,765 | |
Unfunded Debt and Equity Commitments [Member] | SLR Healthcare ABL [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 1,400 | 0 | |
Unfunded Debt and Equity Commitments [Member] | RxSense Holdings LLC [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 1,250 | 0 | |
Unfunded Debt and Equity Commitments [Member] | Erie Construction Mid-west, LLC [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 1,247 | 0 | |
Unfunded Debt and Equity Commitments [Member] | Composite Technology Acquisition Corp [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 1,139 | 0 | |
Unfunded Debt and Equity Commitments [Member] | Enverus Holdings, Inc [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 1,004 | 0 | |
Unfunded Debt and Equity Commitments [Member] | SLR Equipment Finance [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 1,000 | 5,000 | |
Unfunded Debt and Equity Commitments [Member] | American Teleconferencing Services, Ltd. [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 914 | 573 | |
Unfunded Debt and Equity Commitments [Member] | SunMed Group Holdings, LLC [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 843 | 828 | |
Unfunded Debt and Equity Commitments [Member] | All State Ag Parts, LLC | |||
Other Commitments [Line Items] | |||
Other Commitment | 730 | 0 | |
Unfunded Debt and Equity Commitments [Member] | Ultimate Baked Goods Midco LLC [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 551 | 801 | |
Unfunded Debt and Equity Commitments [Member] | Pinnacle Treatment Centers, Inc. [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 387 | 1,414 | |
Unfunded Debt and Equity Commitments [Member] | BayMark Health Services, Inc [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 391 | 0 | |
Unfunded Debt and Equity Commitments [Member] | GSM Acquisition Corp [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 365 | 0 | |
Unfunded Debt and Equity Commitments [Member] | High Street Buyer, Inc [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 327 | 0 | |
Unfunded Debt and Equity Commitments [Member] | Tilley Distribution, Inc [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 293 | 0 | |
Unfunded Debt and Equity Commitments [Member] | TAUC Management, LLC [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 287 | 0 | |
Unfunded Debt and Equity Commitments [Member] | RQM+ Corp. [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 0 | 3,818 | |
Unfunded Debt and Equity Commitments [Member] | Rezolute, Inc [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 0 | 5,675 | |
Unfunded Debt and Equity Commitments [Member] | SOC Telemed, Inc. [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | 0 | 4,448 | |
Unfunded Debt and Equity Commitments [Member] | Neuronetics, Inc. [Member] | |||
Other Commitments [Line Items] | |||
Other Commitment | $ 0 | $ 2,230 | |
[1]The Company controls the funding of the SLR Credit Solutions and SLR Healthcare ABL commitments and may cancel them at its discretion. |
SLR Equipment Finance - Additio
SLR Equipment Finance - Additional Information (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2019 USD ($) | Sep. 30, 2022 USD ($) Customers | Sep. 30, 2021 USD ($) | Sep. 30, 2022 USD ($) Customers | Sep. 30, 2021 USD ($) | Dec. 31, 2021 USD ($) Customers | Jul. 31, 2017 USD ($) | |
Schedule of Equity Method Investments [Line Items] | |||||||
Non-recourse debt | $ 1,148,291 | $ 1,148,291 | $ 812,038 | ||||
SLR Equipment Finance [Member] | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Equity method investment, ownership percentage | 100% | ||||||
Equity method investment, aggregate cost | $ 209,866 | ||||||
Equity method investment aggregate equity investment | 145,000 | ||||||
Equity method investment aggregate investment in investee leases and loans held | 64,866 | ||||||
Line of credit facility, maximum borrowing capacity | $ 213,957 | 150,000 | |||||
Line of credit facility maximum borrowing capacity with accordion feature | $ 313,957 | $ 250,000 | |||||
Number of funded equipment-backed leases and loans | 129 | 129 | 135 | ||||
Number of Customers | Customers | 59 | 59 | 61 | ||||
Net investment in lease | $ 189,254 | $ 189,254 | $ 210,986 | ||||
Assets under lease | 241,189 | 241,189 | 264,007 | ||||
Equipment backed leases and loans largest position outstanding | 19,272 | 19,272 | 19,207 | ||||
Equipment backed leases and loans average exposure per customer | 3,208 | 3,208 | 3,459 | ||||
Non-recourse debt | 110,997 | 110,997 | $ 118,002 | ||||
Net income | 1,034 | $ 306 | 125 | $ 2,301 | |||
Gross income | $ 6,486 | $ 5,809 | $ 15,704 | $ 16,443 | |||
Line of credit facility, expiration date | Jul. 31, 2023 |
Capital Share Transactions - Ad
Capital Share Transactions - Additional Information (Details) - $ / shares | Sep. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 |
Stockholders' Equity Note [Abstract] | |||
Shares authorized | 200,000,000 | 200,000,000 | 200,000,000 |
Par value | $ 0.01 | $ 0.01 | $ 0.01 |
Capital Share Transactions - Su
Capital Share Transactions - Summary of Transactions In Capital Stock (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Shares | 0 | 0 | 12,511,825 | 0 |
Amount | $ 0 | $ 0 | $ 226,839 | $ 0 |
Shares issued in connection with the Mergers [Member] | ||||
Shares | 0 | 0 | 12,511,825 | 0 |
Amount | $ 0 | $ 0 | $ 226,839 | $ 0 |
Kingsbridge Holdings, LLC - Add
Kingsbridge Holdings, LLC - Additional Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Nov. 03, 2020 | Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Proceeds from unsecured borrowings | $ 134,914 | $ 49,966 | ||||
Total assets | $ 2,455,435 | 2,455,435 | $ 2,011,011 | |||
Non-recourse debt | 1,148,291 | 1,148,291 | 812,038 | |||
KBHT [Member] | ||||||
Total assets | 774,619 | 774,619 | 738,425 | |||
Kingsbridge Holdings, LLC [Member] | ||||||
Equity method investments | $ 216,596 | |||||
Payments to acquire investments | 136,596 | |||||
Proceeds from unsecured borrowings | $ 80,000 | |||||
Recourse debt | 246,210 | 246,210 | 216,881 | |||
Non-recourse debt | 316,840 | 316,840 | $ 323,844 | |||
Net income (loss) | 3,327 | $ 3,163 | 10,393 | 10,314 | ||
Gross income | $ 71,332 | $ 60,510 | $ 215,074 | $ 180,079 | ||
Maximum [Member] | Kingsbridge Holdings, LLC [Member] | ||||||
Equity method investment, ownership percentage | 87.50% | |||||
Minimum [Member] | Kingsbridge Holdings, LLC [Member] | ||||||
Equity method investment, ownership percentage | 12.50% |
SLR Healthcare ABL - Additional
SLR Healthcare ABL - Additional Information (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
Jun. 28, 2019 USD ($) | May 27, 2016 USD ($) | Sep. 30, 2013 USD ($) | Sep. 30, 2022 USD ($) | Sep. 30, 2021 USD ($) | Jun. 30, 2021 USD ($) | Sep. 30, 2022 USD ($) issuers | Sep. 30, 2021 USD ($) | Dec. 31, 2021 USD ($) issuers | Jun. 27, 2014 USD ($) | Mar. 31, 2014 USD ($) | |
Commitments and contingencies | |||||||||||
Total assets | 2,455,435 | 2,455,435 | 2,011,011 | ||||||||
SLR Healthcare ABL Credit [Member] | |||||||||||
Line of credit facility, maximum borrowing capacity | $ 125,000 | 62,000 | 62,000 | 60,000 | |||||||
Debt instrument term | 4 years | ||||||||||
Line of credit facility, expiration date | Jun. 28, 2023 | May 27, 2020 | |||||||||
Total assets | 93,010 | $ 93,010 | $ 91,275 | ||||||||
Number of issuers in business credit | issuers | 37 | 36 | |||||||||
Long-term line of credit | 2,199 | $ 2,199 | $ 2,267 | ||||||||
Net income (loss) | 822 | $ 40 | 2,543 | $ 494 | |||||||
Gross income | 3,020 | $ 2,631 | $ 2,021 | 7,898 | $ 7,035 | ||||||
Senior Secured Commitments [Member] | |||||||||||
Commitments and contingencies | 179,633 | 179,633 | 183,501 | ||||||||
Senior Secured Commitments [Member] | SLR Healthcare ABL Credit [Member] | |||||||||||
Commitment funded amount | $ 81,360 | $ 81,360 | $ 81,604 | ||||||||
Maximum [Member] | |||||||||||
Debt instrument term | 60 days | ||||||||||
Maximum [Member] | SLR Healthcare ABL Credit [Member] | |||||||||||
Line of credit facility, maximum borrowing capacity | $ 200,000 | $ 150,000 | $ 110,000 | ||||||||
Minimum [Member] | |||||||||||
Debt instrument term | 60 days | ||||||||||
Minimum [Member] | SLR Healthcare ABL Credit [Member] | |||||||||||
Line of credit facility, maximum borrowing capacity | $ 125,000 | 100,000 | $ 105,000 | ||||||||
SLR Healthcare ABL [Member] | |||||||||||
Equity method investments | $ 32,839 | ||||||||||
SLR Healthcare ABL [Member] | Maximum [Member] | |||||||||||
Equity method investment, ownership percentage | 93% | 93% | |||||||||
SLR Healthcare ABL [Member] | Minimum [Member] | |||||||||||
Equity method investment, ownership percentage | 7% | 7% |
SLR Business Credit - Additiona
SLR Business Credit - Additional Information (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
Jun. 03, 2021 USD ($) | Sep. 30, 2022 USD ($) | Sep. 30, 2021 USD ($) | Sep. 30, 2022 USD ($) issuers | Sep. 30, 2021 USD ($) | Dec. 31, 2021 USD ($) issuers | Jun. 28, 2019 USD ($) | May 01, 2018 | Oct. 20, 2017 USD ($) | |
SLR Business Credit [Line Items] | |||||||||
Commitments and contingencies | |||||||||
Assets | 2,455,435 | $ 2,455,435 | $ 2,011,011 | ||||||
SLR Business Credit [Member] | |||||||||
SLR Business Credit [Line Items] | |||||||||
Number of issuers in business credit | issuers | 109 | 125 | |||||||
Long-term line of credit | 2,715 | $ 2,715 | $ 1,989 | ||||||
Net income | 1,977 | $ 2,577 | 5,703 | $ 4,737 | |||||
Gross income | 7,607 | $ 6,857 | 20,378 | $ 16,674 | |||||
Senior Secured Commitments [Member] | |||||||||
SLR Business Credit [Line Items] | |||||||||
Commitments and contingencies | 179,633 | 179,633 | 183,501 | ||||||
Senior Secured Commitments [Member] | SLR Business Credit [Member] | |||||||||
SLR Business Credit [Line Items] | |||||||||
Commitments and contingencies | 554,171 | 554,171 | 513,869 | ||||||
Commitment funded amount | 295,973 | 295,973 | 248,652 | ||||||
Assets | 346,278 | 346,278 | 290,794 | ||||||
Fast Pay Partners LLC [Member] | |||||||||
SLR Business Credit [Line Items] | |||||||||
Percentage of voting interests acquired | 100% | ||||||||
Business combination, consideration transferred | $ 66,671 | ||||||||
NMCs Credit Facility [Member] | |||||||||
SLR Business Credit [Line Items] | |||||||||
Line of credit facility, maximum borrowing capacity | 47,671 | $ 15,500 | |||||||
SUNS [Member] | |||||||||
SLR Business Credit [Line Items] | |||||||||
Line of credit facility, maximum borrowing capacity | $ 19,000 | ||||||||
NMC Senior Credit Facility [Member] | |||||||||
SLR Business Credit [Line Items] | |||||||||
Line of credit facility, maximum borrowing capacity | 240,000 | 240,000 | |||||||
Long-term line of credit | $ 237,510 | $ 237,510 | $ 183,252 | ||||||
Line of credit facility, expiration date | Nov. 13, 2025 | ||||||||
NM Holdco [Member] | |||||||||
SLR Business Credit [Line Items] | |||||||||
Percentage of equity interest contributed to another entity | 99% | ||||||||
North Mill Capital LLC [Member] | |||||||||
SLR Business Credit [Line Items] | |||||||||
Equity method investment, ownership percentage | 99% | 100% | |||||||
Equity method investments | $ 51,000 | ||||||||
ESP SSC Corporation [Member] | |||||||||
SLR Business Credit [Line Items] | |||||||||
Equity method investment, ownership percentage | 1% | 1% | |||||||
Summit Financial Resources [Member] | |||||||||
SLR Business Credit [Line Items] | |||||||||
Equity method investment, ownership percentage | 100% |
Merger with SUNS - Additional I
Merger with SUNS - Additional Information (Details) | 3 Months Ended | 9 Months Ended | |||
Apr. 01, 2022 basispoints $ / shares shares | Sep. 30, 2022 shares | Sep. 30, 2021 shares | Sep. 30, 2022 shares | Sep. 30, 2021 shares | |
Merger With Suns [Line Items] | |||||
Stock issued during period, shares, acquisitions | 0 | 0 | 12,511,825 | 0 | |
Number of basis points | basispoints | 25 | ||||
Minimum [Member] | Advisory Agreement [Member] | |||||
Merger With Suns [Line Items] | |||||
Percentage of gross assets | 1% | 1% | |||
Percentage of total net assets | 200% | 200% | |||
Maximum [Member] | Advisory Agreement [Member] | |||||
Merger With Suns [Line Items] | |||||
Percentage of gross assets | 1.50% | 1.50% | |||
Percentage of total net assets | 200% | 200% | |||
Common Stock [Member] | SUNS Company Merger [Member] | |||||
Merger With Suns [Line Items] | |||||
Shares issued, price per share | $ / shares | $ 0.7796 | ||||
Stock issued during period, shares, acquisitions | 12,511,825 |
Merger with SUNS - Summary the
Merger with SUNS - Summary the allocation of the purchase price to the assets acquired and liabilities assumed as a result of the Merger (Detail) - SUNS Company Merger [Member] $ in Thousands | Sep. 30, 2022 USD ($) | |
Business Acquisition [Line Items] | ||
Common stock issued by the Company | $ 227,602 | [1] |
Assets acquired: | ||
Investments, at fair value | 400,105 | |
Cash | 2,313 | |
Other assets | 4,662 | |
Total assets acquired | 407,080 | |
Liabilities assumed: | ||
Debt, at fair value | 159,816 | |
Other liabilities | 2,573 | |
Total liabilities assumed | 162,389 | |
Net assets acquired | 244,691 | |
Total purchase discount | $ (17,089) | |
[1]Based on the market price at closing of $18.13, adjusted for transaction costs. |
Merger with SUNS - Summary th_2
Merger with SUNS - Summary the allocation of the purchase price to the assets acquired and liabilities assumed as a result of the Merger (Parenthetical) (Detail) | Sep. 30, 2022 $ / shares |
SUNS Company Merger [Member] | |
Business Acquisition [Line Items] | |
Business acquisition, share price | $ 18.13 |
Stock Repurchase Program - Addi
Stock Repurchase Program - Additional Information (Details) - USD ($) $ in Thousands | May 23, 2022 | Sep. 30, 2022 | May 03, 2022 |
Stockholders' Equity Note [Abstract] | |||
Stock repurchase program, authorized amount | $ 0 | $ 50,000 | |
Stock repurchase program expiration date | May 01, 2023 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Details) - Subsequent Event [Member] - USD ($) $ / shares in Units, $ in Thousands | Nov. 02, 2022 | Oct. 12, 2022 | Oct. 05, 2022 |
SLR Senior Lending Program LLC [Member] | Senior Secured Cash Flow Loans [Member] | |||
Subsequent Event [Line Items] | |||
Joint venture agreement coventurer equity funding commitment | $ 50,000 | ||
Joint venture agreement aggregate equity funding commitment | $ 100,000 | ||
Board [Member] | |||
Subsequent Event [Line Items] | |||
Dividends payable, amount per share | $ 0.136667 | $ 0.136667 |