Cover Page
Cover Page - shares | 6 Months Ended | |
Jun. 30, 2023 | Jul. 31, 2023 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2023 | |
Document Transition Report | false | |
Entity File Number | 814-00841 | |
Entity Registrant Name | FS Energy and Power Fund | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 27-6822130 | |
Entity Address, Address Line One | 201 Rouse Boulevard | |
Entity Address, City or Town | Philadelphia | |
Entity Address, State or Province | PA | |
Entity Address, Postal Zip Code | 19112 | |
City Area Code | 215 | |
Local Phone Number | 495-1150 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 455,504,623 | |
Entity Central Index Key | 0001501729 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2023 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 | |||
Assets | |||||
Investments, at fair value | $ 1,495,602 | [1],[2] | $ 2,047,115 | [3],[4] | |
Cash | 245,358 | 481,655 | |||
Receivable for investments sold and repaid | 2,580 | 7,022 | |||
Interest receivable | 13,742 | 21,932 | |||
Dividends receivable | 359 | 878 | |||
Unrealized appreciation on swap contracts | 505 | 0 | |||
Swap income receivable | 105 | 83 | |||
Prepaid expenses and other assets | 49 | 96 | |||
Total assets | 1,758,300 | 2,558,781 | |||
Liabilities | |||||
Payable for investments purchased | 53,758 | 0 | |||
Credit facilities payable (net of deferred financing costs of $0 and $238, respectively) | [5] | 0 | 305,438 | ||
Secured note payable (net of deferred financing costs of $845 and $1,253, respectively) | [5] | 0 | 454,671 | ||
Unrealized depreciation on swap contracts | 0 | 698 | |||
Swap income payable | 0 | 26 | |||
Shareholder distributions payable | 13,624 | 13,543 | |||
Management fees payable | 8,686 | 11,185 | |||
Administrative services expense payable | 663 | 1,086 | |||
Interest payable | 0 | 13,371 | |||
Trustees' fees payable | 176 | 164 | |||
Other accrued expenses and liabilities | 1,670 | 4,851 | |||
Total liabilities | 78,577 | 805,033 | |||
Commitments and contingencies | [6] | ||||
Shareholders' equity | |||||
Preferred shares, $0.001 par value, 50,000,000 shares authorized, none issued and outstanding | 0 | 0 | |||
Common shares, $0.001 par value, 700,000,000 shares authorized, 454,129,547 and 451,465,673 shares issued and outstanding, respectively | 454 | 451 | |||
Capital in excess of par value | 3,201,678 | 3,191,293 | |||
Accumulated earnings (deficit) | (1,522,409) | (1,437,996) | |||
Total shareholders' equity | 1,679,723 | 1,753,748 | |||
Total liabilities and shareholders' equity | $ 1,758,300 | $ 2,558,781 | |||
Net asset value per common share at period end (in USD per share) | $ 3.70 | $ 3.88 | |||
Non-controlled/unaffiliated Investments | |||||
Assets | |||||
Investments, at fair value | $ 1,293,701 | $ 1,786,887 | |||
Non-controlled/affiliated investments | |||||
Assets | |||||
Investments, at fair value | 12,720 | 65,777 | |||
Controlled/affiliated investments | |||||
Assets | |||||
Investments, at fair value | $ 189,181 | $ 194,451 | |||
[1]Security may be an obligation of one or more entities affiliated with the named company.[2]See Note 8 for additional information regarding the fair value of the Company’s financial instruments.[3]Security may be an obligation of one or more entities affiliated with the named company.[4]See Note 8 for additional information regarding the fair value of the Company’s financial instruments.[5]See Note 9 for a discussion of the Company's financing arrangements.[6]See Note 10 for a discussion of the Company's commitments and contingencies. |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 | ||
Amortized cost | $ 1,406,338 | [1] | $ 1,922,940 | [2] |
Credit facilities payable of deferred financing cost | 0 | 238 | ||
Secured note payable of deferred financing costs | $ 0 | $ 1,253 | ||
Preferred stock, par value (in USD per share) | $ 0.001 | $ 0.001 | ||
Preferred stock, shares authorized | 50,000,000 | 50,000,000 | ||
Preferred stock, shares issued | 0 | 0 | ||
Preferred stock, shares outstanding | 0 | 0 | ||
Common stock, par value (in USD per share) | $ 0.001 | $ 0.001 | ||
Common stock, shares authorized | 700,000,000 | 700,000,000 | ||
Common stock, shares issued | 454,129,547 | 451,465,673 | ||
Common stock, shares outstanding | 454,129,547 | 451,465,673 | ||
Non-controlled/unaffiliated Investments | ||||
Amortized cost | $ 1,202,527 | $ 1,656,169 | ||
Non-Controlled/Affiliated | ||||
Amortized cost | 25,483 | 94,068 | ||
Controlled/affiliated | ||||
Amortized cost | $ 178,328 | $ 172,703 | ||
[1]Security may be an obligation of one or more entities affiliated with the named company.[2]Security may be an obligation of one or more entities affiliated with the named company. |
Unaudited Consolidated Statemen
Unaudited Consolidated Statements of Operations - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |||
Investment income | ||||||
Paid-in-kind interest income | $ 11,831 | $ 12,469 | ||||
Total investment income | $ 41,476 | $ 47,073 | 84,571 | 82,982 | ||
Operating expenses | ||||||
Management fees | 8,705 | 11,276 | 19,179 | 22,011 | ||
Administrative services expenses | 1,359 | 1,490 | 2,679 | 2,910 | ||
Share transfer agent fees | 794 | 728 | 1,545 | 1,448 | ||
Accounting and administrative fees | 179 | 189 | 362 | 366 | ||
Interest expense | [1] | 5,730 | 13,196 | 18,328 | 26,890 | |
Trustees' fees | 176 | 190 | 340 | 417 | ||
Other general and administrative expenses | 2,651 | 868 | 3,354 | 2,312 | ||
Total operating expenses | 19,594 | 27,937 | 45,787 | 56,354 | ||
Less: Management fee offset | [2] | (19) | (1,700) | (274) | (2,398) | |
Net expenses | 19,575 | 26,237 | 45,513 | 53,956 | ||
Net investment income | 21,901 | 20,836 | 39,058 | 29,026 | ||
Realized and unrealized gain/loss | ||||||
Net realized gain (loss) on investments: | (62,695) | 31,460 | ||||
Net realized gain (loss) on foreign currency | 0 | 0 | (120) | 0 | ||
Net realized gain (loss) on swap contracts | 214 | (1,392) | 226 | (1,808) | ||
Net realized gain (loss) on debt extinguishment | 0 | (183) | 0 | (929) | ||
Net change in unrealized appreciation (depreciation) on investments: | (34,911) | 151,202 | ||||
Net change in unrealized appreciation (depreciation) on swap contracts | 126 | (106) | 1,203 | (3,588) | ||
Net change in unrealized appreciation (depreciation) on foreign currency | 34 | 0 | 34 | 0 | ||
Total net realized and unrealized gain (loss) | (46,552) | (5,256) | (96,263) | 176,337 | ||
Net increase (decrease) in net assets resulting from operations | $ (24,651) | $ 15,580 | $ (57,205) | $ 205,363 | ||
Per share information—basic and diluted | ||||||
Net increase (decrease) in net assets resulting from operations (Earnings per Share), basic (in dollars per share) | $ (0.05) | $ 0.03 | $ (0.13) | $ 0.46 | ||
Net increase (decrease) in net assets resulting from operations (Earnings per Share), diluted (in dollars per share) | $ (0.05) | $ 0.03 | $ (0.13) | $ 0.46 | ||
Weighted average shares outstanding, basic (in shares) | 454,041,028 | 448,730,149 | 453,366,381 | 448,070,934 | ||
Weighted average shares outstanding, diluted (in shares) | 454,041,028 | 448,730,149 | 453,366,381 | 448,070,934 | ||
Non-controlled/unaffiliated Investments | ||||||
Investment income | ||||||
Interest income | $ 21,599 | $ 23,713 | $ 51,789 | $ 46,853 | ||
Paid-in-kind interest income | 7,245 | 7,098 | 11,551 | 11,521 | ||
Fee income | 1,029 | 1,958 | 1,126 | 3,191 | ||
Dividend income | 8,733 | 0 | 14,423 | 0 | ||
Realized and unrealized gain/loss | ||||||
Net realized gain (loss) on investments: | (20,947) | (3,938) | (29,795) | (20,602) | ||
Net change in unrealized appreciation (depreciation) on investments: | (15,025) | 784 | (39,544) | 136,287 | ||
Non-Controlled/Affiliated | ||||||
Investment income | ||||||
Interest income | 167 | 1,030 | 324 | 2,940 | ||
Paid-in-kind interest income | 24 | 22 | 48 | [3] | 57 | |
Fee income | 0 | 7,268 | 0 | 7,268 | ||
Dividend income | 0 | 3,691 | 0 | 5,417 | ||
Realized and unrealized gain/loss | ||||||
Net realized gain (loss) on investments: | (21,541) | 53,584 | (32,900) | 41,204 | ||
Net change in unrealized appreciation (depreciation) on investments: | 18,089 | (53,922) | 15,528 | 2,129 | ||
Controlled/affiliated | ||||||
Investment income | ||||||
Interest income | 2,619 | 2,072 | 5,078 | 4,109 | ||
Paid-in-kind interest income | 60 | 221 | 232 | [4] | 891 | |
Dividend income | 0 | 0 | 0 | 735 | ||
Realized and unrealized gain/loss | ||||||
Net realized gain (loss) on investments: | 0 | 10,858 | 0 | 10,858 | ||
Net change in unrealized appreciation (depreciation) on investments: | $ (7,502) | $ (10,941) | $ (10,895) | $ 12,786 | ||
[1]See Note 9 for a discussion of the Company's financing arrangements.[2]See Note 4 for a discussion of the offset by FS/EIG Advisor, LLC, the Company's investment adviser, of certain management fees to which it was otherwise entitled during the applicable period.[3] (3) Interest and PIK income presented for the six months ended June 30, 2023. (3) Interest and PIK income presented for the six months ended June 30, 2023. |
Unaudited Consolidated Statem_2
Unaudited Consolidated Statements of Changes in Net Assets - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | ||
Operations | |||||
Net investment income | $ 21,901 | $ 20,836 | $ 39,058 | $ 29,026 | |
Net realized gain (loss) on investments, foreign currency, swap contracts and debt extinguishment | (42,274) | 58,929 | (62,589) | 28,723 | |
Net change in unrealized appreciation (depreciation) on investments | (4,438) | (64,079) | (34,911) | 151,202 | |
Net change in unrealized appreciation (depreciation) on swap contracts | 126 | (106) | 1,203 | (3,588) | |
Net change in unrealized appreciation (depreciation) on foreign currency | 34 | 0 | 34 | 0 | |
Net increase (decrease) in net assets resulting from operations | (24,651) | 15,580 | (57,205) | 205,363 | |
Shareholder distributions | |||||
Distributions to shareholders | [1] | (13,624) | (13,465) | (27,208) | (26,891) |
Net decrease in net assets resulting from shareholder distributions | [1] | (13,624) | (13,465) | (27,208) | (26,891) |
Capital share transactions | |||||
Reinvestment of shareholder distributions | [2] | 5,170 | 5,225 | 10,388 | 10,460 |
Net increase in net assets resulting from capital share transactions | [2] | 5,170 | 5,225 | 10,388 | 10,460 |
Total increase (decrease) in net assets | (33,105) | 7,340 | (74,025) | 188,932 | |
Net assets at beginning of period | 1,712,828 | 1,753,748 | 1,602,323 | ||
Net assets at end of period | $ 1,679,723 | $ 1,791,255 | $ 1,679,723 | $ 1,791,255 | |
[1]See Note 5 for a discussion of the sources of distributions paid by the Company.[2]See Note 3 for a discussion of the Company's common share transactions. |
Unaudited Consolidated Statem_3
Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | ||
Cash flows from operating activities | ||||||
Net Income (Loss) Attributable to Parent | $ (24,651) | $ 15,580 | $ (57,205) | $ 205,363 | ||
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities: | ||||||
Purchases of investments | (91,324) | (342,911) | ||||
Paid-in-kind interest income | (11,831) | (12,469) | ||||
Proceeds from sales and repayments of investments | 560,174 | 505,815 | ||||
Net realized (gain) loss on investments | 62,695 | (31,460) | ||||
Net change in unrealized (appreciation) depreciation on investments | 34,911 | (151,202) | ||||
Net change in unrealized (appreciation) depreciation on swap contracts | (126) | 106 | (1,203) | 3,588 | ||
Accretion of discount | (3,112) | (3,886) | ||||
Amortization of deferred financing costs and discount | 2,778 | 3,718 | ||||
(Increase) decrease in receivable for investments sold and repaid | 4,442 | (2,316) | ||||
(Increase) decrease in interest receivable | 8,190 | 6,810 | ||||
(Increase) decrease in dividends receivable | 519 | (3,691) | ||||
(Increase) decrease in swap income receivable | (22) | 0 | ||||
(Increase) decrease in prepaid expenses and other assets | 47 | 98 | ||||
Increase (decrease) in payable for investments purchased | 53,758 | (49,053) | ||||
Increase (decrease) in swap income payable | (26) | 453 | ||||
Increase (decrease) in management fees payable | (2,499) | (890) | ||||
Increase (decrease) in administrative services expense payable | (423) | 353 | ||||
Increase (decrease) in interest payable | [1] | (13,371) | (938) | |||
Increase (decrease) in trustees' fees payable | 12 | (10) | ||||
Increase (decrease) in other accrued expenses and liabilities | (3,181) | (515) | ||||
Net cash provided by (used in) operating activities | 543,329 | 126,857 | ||||
Cash flows from financing activities | ||||||
Shareholder distributions paid | (16,739) | (16,354) | ||||
Borrowings under credit facilities | [1] | 0 | 29,009 | |||
Repayments of credit facilities | [1] | (305,676) | (10,000) | |||
Repayments under senior secured notes | [1] | (457,075) | (31,925) | |||
Deferred financing costs paid | (136) | (132) | ||||
Net cash provided by (used in) financing activities | (779,626) | (29,402) | ||||
Total increase (decrease) in cash | (236,297) | 97,455 | ||||
Cash at beginning of period | 481,655 | 33,879 | $ 33,879 | |||
Cash at end of period | $ 245,358 | $ 131,334 | 245,358 | 131,334 | $ 481,655 | |
Supplemental disclosure | ||||||
Non-cash reinvestment of shareholder distributions | 10,388 | 10,460 | ||||
Non-cash purchases of investments | (3,284) | (1,587) | ||||
Non-cash sales of investments | 3,284 | 1,587 | ||||
Federal and state taxes paid | $ 3,234 | $ 1,007 | ||||
[1]See Note 9 for a discussion of the Company's financing arrangements. During the six months ended June 30, 2023 and 2022, the Company paid $28,921 and $24,110, respectively, in interest expense on the financing arrangements and Senior Secured Notes. |
Unaudited Consolidated Statem_4
Unaudited Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Statement of Cash Flows [Abstract] | ||
Interest expense paid | $ 28,921 | $ 24,110 |
Unaudited Consolidated Schedule
Unaudited Consolidated Schedule of Investments $ in Thousands | 6 Months Ended | 12 Months Ended | |||||
Jun. 30, 2023 USD ($) MMBTU $ / shares $ / MMBTU $ / MBbls shares bbl | Dec. 31, 2022 USD ($) MMBTU $ / shares $ / MMBTU $ / MBbls shares bbl | Dec. 31, 2021 USD ($) | |||||
Percent of net assets | 89% | [1] | 116.70% | [2] | |||
Amortized Cost | $ 1,406,338 | [1] | $ 1,922,940 | [2] | |||
Investments, at fair value | 1,495,602 | [1],[3] | 2,047,115 | [2],[4] | |||
LIABILITIES IN EXCESS OF OTHER ASSETS | 184,121 | [1],[3],[5] | (293,367) | [2],[4],[6] | |||
NET ASSETS | $ 1,679,723 | [1],[3] | $ 1,753,748 | [2],[4] | |||
Liabilities in excess of other assets percentage | 11% | [1] | (16.70%) | [2] | |||
Unrealized appreciation | $ 505 | [7],[8] | $ 0 | [9] | |||
Unrealized depreciation | 0 | [7],[8] | 698 | [9] | |||
Swap Contracts—Crude Oil | |||||||
Unrealized appreciation | 399 | [7],[8] | 0 | [9] | |||
Unrealized depreciation | $ 0 | [7],[8] | $ 572 | [9] | |||
Fixed Price Swap Contracts Crude Oil | |||||||
Notional amount, volume | bbl | 80,561 | [8] | 168,511 | [9] | |||
Weighted average price | $ / MBbls | 80 | [8] | 80 | [9] | |||
Unrealized appreciation | $ 399 | [7],[8] | $ 0 | [9],[10] | |||
Unrealized depreciation | 0 | [7],[8] | 572 | [9],[10] | |||
Swap Contracts—Natural Gas | |||||||
Unrealized appreciation | 106 | [7],[8] | 0 | [9] | |||
Unrealized depreciation | $ 0 | [7],[8] | $ 126 | [9] | |||
Fixed Price Swap Contracts Natural Gas | |||||||
Notional amount, energy | MMBTU | 139,923 | [8] | 314,818 | [9] | |||
Weighted average price | $ / MMBTU | 3.80 | [8] | 3.80 | [9] | |||
Unrealized appreciation | $ 106 | [7],[8] | $ 0 | [9],[10] | |||
Unrealized depreciation | $ 0 | [7],[8] | $ 126 | [9],[10] | |||
Net Senior Secured Loans—First Lien | |||||||
Percent of net assets | 31.10% | [1] | 40.30% | [2] | |||
Amortized Cost | $ 531,752 | [1] | $ 702,842 | [2] | |||
Investments, at fair value | 522,029 | [1],[3] | 706,646 | [2],[4] | |||
Total Senior Secured Loans—First Lien | |||||||
Amortized Cost | 542,320 | [1] | 727,228 | [2] | |||
Investments, at fair value | 532,597 | [1],[3] | 731,032 | [2],[4] | |||
Unfunded Loan Commitments | |||||||
Amortized Cost | (10,568) | [1] | (24,386) | [2] | |||
Investments, at fair value | $ (10,568) | [1],[3] | $ (24,386) | [2],[4] | |||
Net Senior Secured Loans—Second Lien | |||||||
Percent of net assets | 7.40% | [1] | 8.20% | [2] | |||
Amortized Cost | $ 125,774 | [1] | $ 143,153 | [2] | |||
Investments, at fair value | $ 125,003 | [1],[3] | 143,270 | [2],[4] | |||
Unfunded Loan Commitments | |||||||
Amortized Cost | [2] | (1,505) | |||||
Investments, at fair value | [2],[4] | (1,505) | |||||
Total Senior Secured Loans—Second Lien | |||||||
Amortized Cost | [2] | 144,658 | |||||
Investments, at fair value | [2],[4] | $ 144,775 | |||||
Senior Secured Bonds | |||||||
Percent of net assets | 1.40% | [1] | 0.60% | [2] | |||
Amortized Cost | $ 24,043 | [1] | $ 10,064 | [2] | |||
Investments, at fair value | $ 23,954 | [1],[3] | $ 10,074 | [2],[4] | |||
Unsecured Debt | |||||||
Percent of net assets | 6.30% | [1] | 13.70% | [2] | |||
Amortized Cost | $ 106,505 | [1] | $ 253,675 | [2] | |||
Investments, at fair value | $ 106,092 | [1],[3] | $ 241,418 | [2],[4] | |||
Preferred Equity | |||||||
Percent of net assets | 18% | [1] | 22.80% | [2] | |||
Amortized Cost | $ 301,615 | [1] | $ 425,182 | [2] | |||
Investments, at fair value | $ 301,619 | [1],[3] | $ 400,414 | [2],[4] | |||
Sustainable Infrastructure Investments, LLC | |||||||
Percent of net assets | 3% | [1] | 2.90% | [2] | |||
Amortized Cost | $ 54,514 | [1] | $ 54,514 | [2] | |||
Investments, at fair value | $ 50,149 | [1],[3] | $ 51,098 | [2],[4] | |||
Equity/Other | |||||||
Percent of net assets | 21.80% | [1] | 28.20% | [2] | |||
Amortized Cost | $ 262,135 | [1] | $ 333,510 | [2] | |||
Investments, at fair value | $ 366,756 | [1],[3] | $ 494,195 | [2],[4] | |||
Investment, Identifier [Axis]: AIRRO (Mauritius) Holdings II, Energy—Power 1 | |||||||
Variable Rate | [1],[11],[12],[13],[14] | 4% | |||||
PIK Rate | [1],[11],[12],[13],[14] | 3% | |||||
Max PIK Rate | [1],[11],[12],[13],[14] | 3% | |||||
Floor Rate | [1],[11],[12],[13],[14] | 1.50% | |||||
Principal amount | [1],[12],[13],[14],[15] | $ 23,071 | |||||
Amortized Cost | [1],[12],[13],[14] | 20,419 | |||||
Investments, at fair value | [1],[3],[12],[13],[14] | $ 23,243 | |||||
Investment, Identifier [Axis]: AIRRO (Mauritius) Holdings II, Energy—Power 2 | |||||||
Variable Rate | [1],[11],[12],[13],[14],[16] | 4% | |||||
PIK Rate | [1],[11],[12],[13],[14],[16] | 3% | |||||
Max PIK Rate | [1],[11],[12],[13],[14],[16] | 3% | |||||
Floor Rate | [1],[11],[12],[13],[14],[16] | 1.50% | |||||
Principal amount | [1],[12],[13],[14],[15],[16] | $ 5,359 | |||||
Amortized Cost | [1],[12],[13],[14],[16] | 5,359 | |||||
Investments, at fair value | [1],[3],[12],[13],[14],[16] | $ 5,399 | |||||
Investment, Identifier [Axis]: AIRRO (Mauritius) Holdings II, Power 1 | |||||||
Variable Rate | [2],[17],[18],[19] | 4% | |||||
PIK Rate | [2],[17],[18],[19] | 3% | |||||
Max PIK Rate | [2],[17],[18],[19] | 3% | |||||
Floor Rate | [2],[17],[18],[19],[20] | 1.50% | |||||
Principal amount | [2],[17],[18],[19],[21] | $ 22,734 | |||||
Amortized Cost | [2],[17],[18],[19] | 20,082 | |||||
Investments, at fair value | [2],[4],[17],[18],[19] | $ 23,519 | |||||
Investment, Identifier [Axis]: AIRRO (Mauritius) Holdings II, Power 2 | |||||||
Variable Rate | [2],[17],[18],[19],[22] | 4% | |||||
PIK Rate | [2],[17],[18],[19],[22] | 3% | |||||
Max PIK Rate | [2],[17],[18],[19],[22] | 3% | |||||
Floor Rate | [2],[17],[18],[19],[20],[22] | 1.50% | |||||
Principal amount | [2],[17],[18],[19],[21],[22] | $ 5,359 | |||||
Amortized Cost | [2],[17],[18],[19],[22] | 5,359 | |||||
Investments, at fair value | [2],[4],[17],[18],[19],[22] | $ 5,545 | |||||
Investment, Identifier [Axis]: AIRRO (Mauritius) Holdings II, Warrants, Strike: $1.00, Energy—Power | |||||||
Strike price (in dollars per share) | $ / shares | [1],[12],[13],[14],[23] | $ 1 | |||||
Number of Shares | shares | [1],[12],[13],[14],[23] | 35 | |||||
Amortized Cost | [1],[12],[13],[14],[23] | $ 2,652 | |||||
Investments, at fair value | [1],[3],[12],[13],[14],[23] | $ 2,223 | |||||
Investment, Identifier [Axis]: AIRRO (Mauritius) Holdings II, Warrants, Strike: $1.00, Power | |||||||
Strike price (in dollars per share) | $ / shares | [2],[17],[19],[24],[25],[26] | $ 1 | |||||
Number of Shares | shares | [2],[17],[18],[19],[25],[26] | 35 | |||||
Amortized Cost | [2],[17],[18],[19],[25],[26] | $ 2,652 | |||||
Investments, at fair value | [2],[4],[17],[18],[19],[25],[26] | $ 1,630 | |||||
Investment, Identifier [Axis]: Abaco Energy Technologies LLC, Common Equity, Energy—Service & Equipment | |||||||
Number of Shares | shares | [1],[12],[23] | 6,944,444 | |||||
Amortized Cost | [1],[12],[23] | $ 6,944 | |||||
Investments, at fair value | [1],[3],[12],[23] | $ 1,243 | |||||
Investment, Identifier [Axis]: Abaco Energy Technologies LLC, Common Equity, Service & Equipment | |||||||
Number of Shares | shares | [2],[17],[25],[26] | 6,944,444 | |||||
Amortized Cost | [2],[17],[25],[26] | $ 6,944 | |||||
Investments, at fair value | [2],[4],[17],[25],[26] | $ 1,219 | |||||
Investment, Identifier [Axis]: Abaco Energy Technologies LLC, Preferred Equity, Energy—Service & Equipment | |||||||
Number of Shares | shares | [1],[12],[23] | 28,942,003 | |||||
Amortized Cost | [1],[12],[23] | $ 1,447 | |||||
Investments, at fair value | [1],[3],[12],[23] | $ 8,827 | |||||
Investment, Identifier [Axis]: Abaco Energy Technologies LLC, Preferred Equity, Service & Equipment | |||||||
Number of Shares | shares | [2],[17],[25],[26] | 28,942,003 | |||||
Amortized Cost | [2],[17],[25],[26] | $ 1,447 | |||||
Investments, at fair value | [2],[4],[17],[25],[26] | $ 8,321 | |||||
Investment, Identifier [Axis]: Acrisure, LLC, Insurance | |||||||
Variable Rate | [1],[11] | 5.75% | |||||
Floor Rate | [1],[11] | 1% | |||||
Principal amount | [1],[15] | $ 9,975 | |||||
Amortized Cost | [1] | 10,044 | |||||
Investments, at fair value | [1],[3] | $ 10,062 | |||||
Investment, Identifier [Axis]: Aethon III BR LLC, Energy—Upstream | |||||||
Variable Rate | [1],[11],[12] | 7.50% | |||||
Floor Rate | [1],[11],[12] | 1.50% | |||||
Principal amount | [1],[12],[15] | $ 20,000 | |||||
Amortized Cost | [1],[12] | 19,877 | |||||
Investments, at fair value | [1],[3],[12] | $ 20,081 | |||||
Investment, Identifier [Axis]: Aethon III BR LLC, Upstream | |||||||
Variable Rate | [2],[17],[26] | 7.50% | |||||
Floor Rate | [2],[17],[20],[26] | 1.50% | |||||
Principal amount | [2],[17],[21],[26] | $ 20,000 | |||||
Amortized Cost | [2],[17],[26] | 19,848 | |||||
Investments, at fair value | [2],[4],[17],[26] | $ 20,138 | |||||
Investment, Identifier [Axis]: Aethon United BR LP, Energy—Upstream | |||||||
Rate | [1],[11] | 8.30% | |||||
Principal amount | [1],[15] | $ 40,500 | |||||
Amortized Cost | [1] | 40,500 | |||||
Investments, at fair value | [1],[3] | $ 39,828 | |||||
Investment, Identifier [Axis]: Aethon United BR LP, Upstream | |||||||
Rate | [2],[26] | 8.30% | |||||
Principal amount | [2],[21],[26] | $ 40,500 | |||||
Amortized Cost | [2],[26] | 40,500 | |||||
Investments, at fair value | [2],[4],[26] | 40,221 | |||||
Investment, Identifier [Axis]: AirSwift Holdings, Ltd., Common Equity, Commercial & Professional Services | |||||||
Number of Shares | shares | [1],[12],[14],[23] | 3,750,000 | |||||
Amortized Cost | [1],[12],[14],[23] | $ 6,029 | |||||
Investments, at fair value | [1],[3],[12],[14],[23] | 3,038 | |||||
Investment, Identifier [Axis]: Allied Downhole Technologies, LLC | |||||||
Investments, at fair value | $ 7,553 | [27] | $ 8,436 | [27],[28] | $ 7,782 | [28] | |
Investment, Identifier [Axis]: Allied Downhole Technologies, LLC, Energy—Service & Equipment 1 | |||||||
PIK Rate | [1],[11],[12],[29] | 8% | |||||
Max PIK Rate | [1],[11],[12],[29] | 8% | |||||
Principal amount | [1],[12],[15],[29] | $ 7,553 | |||||
Amortized Cost | [1],[12],[29] | 7,553 | |||||
Investments, at fair value | [1],[3],[12],[29] | $ 7,553 | |||||
Investment, Identifier [Axis]: Allied Downhole Technologies, LLC, Energy—Service & Equipment 2 | |||||||
PIK Rate | [1],[11],[12],[16],[29] | 8% | |||||
Max PIK Rate | [1],[11],[12],[16],[29] | 8% | |||||
Principal amount | [1],[12],[15],[16],[29] | $ 2,500 | |||||
Amortized Cost | [1],[12],[16],[29] | 2,500 | |||||
Investments, at fair value | [1],[3],[12],[16],[29] | $ 2,500 | |||||
Investment, Identifier [Axis]: Allied Downhole Technologies, LLC, Service & Equipment 1 | |||||||
PIK Rate | [2],[17],[24],[26] | 8% | |||||
Max PIK Rate | [2],[17],[24],[26] | 8% | |||||
Principal amount | [2],[17],[21],[24],[26] | $ 8,436 | |||||
Amortized Cost | [2],[17],[24],[26] | 8,436 | |||||
Investments, at fair value | [2],[4],[17],[24],[26] | $ 8,436 | |||||
Investment, Identifier [Axis]: Allied Downhole Technologies, LLC, Service & Equipment 2 | |||||||
PIK Rate | [2],[17],[22],[24] | 8% | |||||
Max PIK Rate | [2],[17],[22],[24] | 8% | |||||
Principal amount | [2],[17],[21],[22],[24] | $ 2,500 | |||||
Amortized Cost | [2],[17],[22],[24] | 2,500 | |||||
Investments, at fair value | [2],[4],[17],[22],[24] | 2,500 | |||||
Investment, Identifier [Axis]: Allied Universal Holdco, LLC, Consumer Services | |||||||
Variable Rate | [1],[11] | 3.75% | |||||
Floor Rate | [1],[11] | 0.50% | |||||
Principal amount | [1],[15] | $ 7,980 | |||||
Amortized Cost | [1] | 7,671 | |||||
Investments, at fair value | [1],[3] | 7,771 | |||||
Investment, Identifier [Axis]: Allied Wireline Services, LLC | |||||||
Investments, at fair value | 70,277 | 63,888 | 46,339 | ||||
Investment, Identifier [Axis]: Allied Wireline Services, LLC, Common Equity | |||||||
Investments, at fair value | $ 8,068 | $ 10,463 | 0 | ||||
Investment, Identifier [Axis]: Allied Wireline Services, LLC, Common Equity, Energy—Service & Equipment | |||||||
Number of Shares | shares | [1],[12],[23],[29],[30] | 48,400 | |||||
Amortized Cost | [1],[12],[23],[29],[30] | $ 1,527 | |||||
Investments, at fair value | [1],[3],[12],[23],[29],[30] | $ 8,068 | |||||
Investment, Identifier [Axis]: Allied Wireline Services, LLC, Common Equity, Service & Equipment | |||||||
Number of Shares | shares | [2],[17],[24],[25],[26],[31] | 48,400 | |||||
Amortized Cost | [2],[17],[24],[25],[26],[31] | $ 1,527 | |||||
Investments, at fair value | [2],[4],[17],[24],[25],[26],[31] | $ 10,463 | |||||
Investment, Identifier [Axis]: Allied Wireline Services, LLC, Energy—Service & Equipment | |||||||
PIK Rate | [1],[11],[12],[29] | 10% | |||||
Max PIK Rate | [1],[11],[12],[29] | 10% | |||||
Principal amount | [1],[12],[15],[29] | $ 70,277 | |||||
Amortized Cost | [1],[12],[29] | 70,277 | |||||
Investments, at fair value | [1],[3],[12],[29] | 70,277 | |||||
Investment, Identifier [Axis]: Allied Wireline Services, LLC, Service & Equipment | |||||||
PIK Rate | [2],[17],[24],[26] | 10% | |||||
Max PIK Rate | [2],[17],[24],[26] | 10% | |||||
Principal amount | [2],[17],[21],[24],[26] | $ 63,888 | |||||
Amortized Cost | [2],[17],[24],[26] | 63,888 | |||||
Investments, at fair value | [2],[4],[17],[24],[26] | 63,888 | |||||
Investment, Identifier [Axis]: Allied Wireline Services, LLC, Warrants | |||||||
Investments, at fair value | $ 0 | $ 0 | 0 | ||||
Investment, Identifier [Axis]: Allied Wireline Services, LLC, Warrants, Energy—Service & Equipment | |||||||
Number of Shares | shares | [1],[12],[23],[29],[30] | 22,000 | |||||
Amortized Cost | [1],[12],[23],[29],[30] | $ 0 | |||||
Investments, at fair value | [1],[3],[12],[23],[29],[30] | $ 0 | |||||
Investment, Identifier [Axis]: Allied Wireline Services, LLC, Warrants, Service & Equipment | |||||||
Number of Shares | shares | [2],[17],[24],[25],[26],[31] | 22,000 | |||||
Amortized Cost | [2],[17],[24],[25],[26],[31] | $ 0 | |||||
Investments, at fair value | [2],[4],[17],[24],[25],[26],[31] | $ 0 | |||||
Investment, Identifier [Axis]: Archrock Partners, L.P., Midstream | |||||||
Rate | [2],[19],[26] | 6.30% | |||||
Principal amount | [2],[19],[21],[26] | $ 3,098 | |||||
Amortized Cost | [2],[19],[26] | 3,168 | |||||
Investments, at fair value | [2],[4],[19],[26] | $ 2,840 | |||||
Investment, Identifier [Axis]: Arena Energy, LP, Contingent Value Rights, Energy—Upstream | |||||||
Number of Shares | shares | [1],[12] | 126,632,117 | |||||
Amortized Cost | [1],[12] | $ 351 | |||||
Investments, at fair value | [1],[3],[12] | $ 488 | |||||
Investment, Identifier [Axis]: Arena Energy, LP, Contingent Value Rights, Upstream | |||||||
Number of Shares | shares | [2],[17],[25],[26] | 126,632,117 | |||||
Amortized Cost | [2],[17],[25],[26] | $ 351 | |||||
Investments, at fair value | [2],[4],[17],[25],[26] | $ 858 | |||||
Investment, Identifier [Axis]: Ascent Resources Utica Holdings, LLC, Common Equity, Energy—Upstream | |||||||
Number of Shares | shares | [1],[12],[23],[30] | 148,692,948 | |||||
Amortized Cost | [1],[12],[23],[30] | $ 44,700 | |||||
Investments, at fair value | [1],[3],[12],[23],[30] | $ 31,895 | |||||
Investment, Identifier [Axis]: Ascent Resources Utica Holdings, LLC, Common Equity, Upstream | |||||||
Number of Shares | shares | [2],[17],[25],[26],[31] | 148,692,948 | |||||
Amortized Cost | [2],[17],[25],[26],[31] | $ 44,700 | |||||
Investments, at fair value | [2],[4],[17],[25],[26],[31] | $ 52,340 | |||||
Investment, Identifier [Axis]: Aveanna Healthcare LLC, Health Care Equipment & Services | |||||||
Variable Rate | [1],[11] | 3.75% | |||||
Floor Rate | [1],[11] | 0.50% | |||||
Principal amount | [1],[15] | $ 9,975 | |||||
Amortized Cost | [1] | 8,583 | |||||
Investments, at fair value | [1],[3] | $ 8,562 | |||||
Investment, Identifier [Axis]: Brazos Delaware II LLC, Midstream | |||||||
Variable Rate | [2] | 4% | |||||
Principal amount | [2],[21] | $ 39,259 | |||||
Amortized Cost | [2] | 38,085 | |||||
Investments, at fair value | [2],[4] | $ 39,137 | |||||
Investment, Identifier [Axis]: CPV Maryland, LLC, Power | |||||||
Variable Rate | [2] | 4% | |||||
Floor Rate | [2],[20] | 1% | |||||
Principal amount | [2],[21] | $ 14,286 | |||||
Amortized Cost | [2] | 14,146 | |||||
Investments, at fair value | [2],[4] | $ 14,155 | |||||
Investment, Identifier [Axis]: CPV Shore Holdings LLC, Energy—Power | |||||||
Variable Rate | [1],[11] | 3.75% | |||||
Principal amount | [1],[15] | $ 23,601 | |||||
Amortized Cost | [1] | 22,880 | |||||
Investments, at fair value | [1],[3] | $ 21,765 | |||||
Investment, Identifier [Axis]: CPV Shore Holdings LLC, Power | |||||||
Variable Rate | [2] | 3.75% | |||||
Principal amount | [2],[21] | $ 23,601 | |||||
Amortized Cost | [2] | 22,760 | |||||
Investments, at fair value | [2],[4] | $ 21,935 | |||||
Investment, Identifier [Axis]: Cimarron Energy Holdco Inc., Common Equity, Service & Equipment | |||||||
Number of Shares | shares | [2],[17],[25],[26] | 4,302,293 | |||||
Amortized Cost | [2],[17],[25],[26] | $ 3,950 | |||||
Investments, at fair value | [2],[4],[17],[25],[26] | $ 0 | |||||
Investment, Identifier [Axis]: Cimarron Energy Holdco Inc., Participation Option, Service & Equipment | |||||||
Number of Shares | shares | [2],[17],[25],[26] | 25,000,000 | |||||
Amortized Cost | [2],[17],[25],[26] | $ 1,289 | |||||
Investments, at fair value | [2],[4],[17],[25],[26] | $ 0 | |||||
Investment, Identifier [Axis]: Cimarron Energy Inc., Service & Equipment | |||||||
Variable Rate | [2],[17],[25],[26],[32] | 9% | |||||
Floor Rate | [2],[17],[20],[25],[26],[32] | 1% | |||||
Principal amount | [2],[17],[21],[25],[26],[32] | $ 7,500 | |||||
Amortized Cost | [2],[17],[25],[26],[32] | 6,563 | |||||
Investments, at fair value | [2],[4],[17],[25],[26],[32] | $ 3,713 | |||||
Investment, Identifier [Axis]: Citizen Energy Operating, LLC, Energy—Upstream | |||||||
Variable Rate | [1],[11],[12] | 7.65% | |||||
Floor Rate | [1],[11],[12] | 1% | |||||
Principal amount | [1],[12],[15] | $ 37,000 | |||||
Amortized Cost | [1],[12] | 36,491 | |||||
Investments, at fair value | [1],[3],[12] | $ 36,360 | |||||
Investment, Identifier [Axis]: Citizen Energy Operating, LLC, Upstream | |||||||
Variable Rate | [2],[17],[26] | 7.65% | |||||
Floor Rate | [2],[17],[20],[26] | 1% | |||||
Principal amount | [2],[17],[21],[26] | $ 39,000 | |||||
Amortized Cost | [2],[17],[26] | 38,440 | |||||
Investments, at fair value | [2],[4],[17],[26] | $ 38,240 | |||||
Investment, Identifier [Axis]: Compass Power Generation LLC, Power | |||||||
Variable Rate | [2] | 4.25% | |||||
Floor Rate | [2],[20] | 1% | |||||
Principal amount | [2],[21] | $ 31,575 | |||||
Amortized Cost | [2] | 30,712 | |||||
Investments, at fair value | [2],[4] | $ 31,384 | |||||
Investment, Identifier [Axis]: Cox Oil Offshore, LLC, Volumetric Production Payments, Energy—Upstream | |||||||
Rate | [1],[8],[11],[12],[33] | 12.70% | |||||
Principal amount | [1],[8],[12],[15],[33] | $ 100,000 | |||||
Amortized Cost | [1],[8],[12],[33] | 6,120 | |||||
Investments, at fair value | [1],[3],[8],[12],[33] | $ 8,507 | |||||
Investment, Identifier [Axis]: Cox Oil Offshore, LLC, Volumetric Production Payments, Upstream | |||||||
Rate | [2],[9],[17],[34] | 12.90% | |||||
Principal amount | [2],[9],[17],[21],[34] | $ 100,000 | |||||
Amortized Cost | [2],[9],[17],[34] | 11,081 | |||||
Investments, at fair value | [2],[4],[9],[17],[34] | $ 20,683 | |||||
Investment, Identifier [Axis]: EIF Van Hook Holdings, LLC, Midstream | |||||||
Variable Rate | [2] | 5.25% | |||||
Principal amount | [2],[21] | $ 26,882 | |||||
Amortized Cost | [2] | 26,609 | |||||
Investments, at fair value | [2],[4] | $ 26,075 | |||||
Investment, Identifier [Axis]: ERA II Minerals, LLC, Energy—Upstream | |||||||
Variable Rate | [1],[11],[12] | 6.25% | |||||
Floor Rate | [1],[11],[12] | 0.80% | |||||
Principal amount | [1],[12],[15] | $ 35,000 | |||||
Amortized Cost | [1],[12] | 34,658 | |||||
Investments, at fair value | [1],[3],[12] | $ 34,636 | |||||
Investment, Identifier [Axis]: ERA II Minerals, LLC, Upstream | |||||||
Variable Rate | [2],[17],[26] | 6.25% | |||||
Floor Rate | [2],[17],[20],[26] | 0.80% | |||||
Principal amount | [2],[17],[21],[26] | $ 37,000 | |||||
Amortized Cost | [2],[17],[26] | 36,601 | |||||
Investments, at fair value | [2],[4],[17],[26] | $ 36,656 | |||||
Investment, Identifier [Axis]: Earthstone Energy Holdings, LLC, Upstream | |||||||
Rate | [2],[19] | 8% | |||||
Principal amount | [2],[19],[21] | $ 11,400 | |||||
Amortized Cost | [2],[19] | 11,400 | |||||
Investments, at fair value | [2],[4],[19] | $ 10,920 | |||||
Investment, Identifier [Axis]: Endeavor Energy Resources, L.P., Upstream | |||||||
Rate | [2],[26] | 5.80% | |||||
Principal amount | [2],[21],[26] | $ 24,299 | |||||
Amortized Cost | [2],[26] | 25,388 | |||||
Investments, at fair value | [2],[4],[26] | $ 23,306 | |||||
Investment, Identifier [Axis]: FR BR Holdings LLC, Energy—Midstream | |||||||
Variable Rate | [1],[11],[12] | 6.50% | |||||
Principal amount | [1],[12],[15] | $ 81,041 | |||||
Amortized Cost | [1],[12] | 80,414 | |||||
Investments, at fair value | [1],[3],[12] | $ 81,008 | |||||
Investment, Identifier [Axis]: FR BR Holdings LLC, Midstream | |||||||
Variable Rate | [2],[17],[26] | 6.50% | |||||
Principal amount | [2],[17],[21],[26] | $ 81,582 | |||||
Amortized Cost | [2],[17],[26] | 80,371 | |||||
Investments, at fair value | [2],[4],[17],[26] | $ 81,361 | |||||
Investment, Identifier [Axis]: FR XIII PAA Holdings HoldCo, LLC, Energy—Midstream | |||||||
Variable Rate | [1],[11],[12] | 7.50% | |||||
Floor Rate | [1],[11],[12] | 0.50% | |||||
Principal amount | [1],[12],[15] | $ 17,197 | |||||
Amortized Cost | [1],[12] | 16,978 | |||||
Investments, at fair value | [1],[3],[12] | $ 17,233 | |||||
Investment, Identifier [Axis]: FR XIII PAA Holdings HoldCo, LLC, Midstream | |||||||
Variable Rate | [2],[17] | 7.50% | |||||
Floor Rate | [2],[17],[20] | 0.50% | |||||
Principal amount | [2],[17],[21] | $ 17,347 | |||||
Amortized Cost | [2],[17] | 17,103 | |||||
Investments, at fair value | [2],[4],[17] | $ 17,406 | |||||
Investment, Identifier [Axis]: First Brands Group, LLC, Automobiles & Components | |||||||
Variable Rate | [1],[11] | 5% | |||||
Floor Rate | [1],[11] | 1% | |||||
Principal amount | [1],[15] | $ 6,982 | |||||
Amortized Cost | [1] | 6,817 | |||||
Investments, at fair value | [1],[3] | $ 6,853 | |||||
Investment, Identifier [Axis]: GIP II Blue Holding LP, Energy—Midstream | |||||||
Variable Rate | [1],[11] | 4.50% | |||||
Floor Rate | [1],[11] | 1% | |||||
Principal amount | [1],[15] | $ 4,763 | |||||
Amortized Cost | [1] | 4,706 | |||||
Investments, at fair value | [1],[3] | 4,785 | |||||
Investment, Identifier [Axis]: GIP II Blue Holding LP, Midstream | |||||||
Variable Rate | [2] | 4.50% | |||||
Floor Rate | [2],[20] | 1% | |||||
Principal amount | [2],[21] | $ 5,918 | |||||
Amortized Cost | [2] | 5,842 | |||||
Investments, at fair value | [2],[4] | 5,877 | |||||
Investment, Identifier [Axis]: GWP Midstream Holdco, LLC, Common Equity | |||||||
Investments, at fair value | $ 1,385 | $ 5,044 | 0 | ||||
Investment, Identifier [Axis]: GWP Midstream Holdco, LLC, Common Equity, Energy—Midstream | |||||||
Number of Shares | shares | [1],[12],[23],[30],[35] | 105,785 | |||||
Amortized Cost | [1],[12],[23],[30],[35] | $ 6,681 | |||||
Investments, at fair value | [1],[3],[12],[23],[30],[35] | $ 1,385 | |||||
Investment, Identifier [Axis]: GWP Midstream Holdco, LLC, Common Equity, Midstream | |||||||
Number of Shares | shares | [2],[17],[25],[26],[31],[36] | 105,785 | |||||
Amortized Cost | [2],[17],[25],[26],[31],[36] | $ 6,681 | |||||
Investments, at fair value | [2],[4],[17],[25],[26],[31],[36] | $ 5,044 | |||||
Investment, Identifier [Axis]: GasLog Ltd., Energy—Midstream | |||||||
Rate | [1],[11],[12],[14] | 7.80% | |||||
Principal amount | [1],[12],[14],[15] | $ 14,648 | |||||
Amortized Cost | [1],[12],[14] | 14,562 | |||||
Investments, at fair value | [1],[3],[12],[14] | $ 14,012 | |||||
Investment, Identifier [Axis]: GasLog Ltd., Midstream | |||||||
Variable Rate | [2],[17],[19] | 7.75% | |||||
Principal amount | [2],[17],[19],[21] | $ 14,648 | |||||
Amortized Cost | [2],[17],[19] | 14,556 | |||||
Investments, at fair value | [2],[4],[17],[19] | $ 14,010 | |||||
Investment, Identifier [Axis]: Generation Bridge LLC, Power 1 | |||||||
Variable Rate | [2] | 5% | |||||
Floor Rate | [2],[20] | 0.80% | |||||
Principal amount | [2],[21] | $ 7,432 | |||||
Amortized Cost | [2] | 7,305 | |||||
Investments, at fair value | [2],[4] | $ 7,385 | |||||
Investment, Identifier [Axis]: Generation Bridge LLC, Power 2 | |||||||
Variable Rate | [2] | 5% | |||||
Floor Rate | [2],[20] | 0.80% | |||||
Principal amount | [2],[21] | $ 163 | |||||
Amortized Cost | [2] | 160 | |||||
Investments, at fair value | [2],[4] | $ 162 | |||||
Investment, Identifier [Axis]: Global Jet Capital Holdings, LP, Preferred Equity, Commercial & Professional Services 1 | |||||||
Number of Shares | shares | [1],[12],[23] | 2,785,562 | |||||
Amortized Cost | [1],[12],[23] | $ 2,786 | |||||
Investments, at fair value | [1],[3],[12],[23] | $ 0 | |||||
Investment, Identifier [Axis]: Global Jet Capital Holdings, LP, Preferred Equity, Commercial & Professional Services 2 | |||||||
PIK Rate | [1],[11],[12],[23],[37] | 9% | |||||
Max PIK Rate | [1],[11],[12],[23],[37] | 9% | |||||
Number of Shares | shares | [1],[12],[23],[37] | 19,096 | |||||
Amortized Cost | [1],[12],[23],[37] | $ 12,493 | |||||
Investments, at fair value | [1],[3],[12],[23],[37] | $ 9,978 | |||||
Investment, Identifier [Axis]: Global Jet Capital Holdings, LP, Preferred Equity, Industrials 1 | |||||||
Number of Shares | shares | [2],[17],[25],[26] | 2,785,562 | |||||
Amortized Cost | [2],[17],[25],[26] | $ 2,786 | |||||
Investments, at fair value | [2],[4],[17],[25],[26] | $ 0 | |||||
Investment, Identifier [Axis]: Global Jet Capital Holdings, LP, Preferred Equity, Industrials 2 | |||||||
PIK Rate | [2],[17],[25],[26],[32] | 9% | |||||
Max PIK Rate | [2],[17],[25],[26],[32] | 9% | |||||
Number of Shares | shares | [2],[17],[25],[26],[32] | 18,296 | |||||
Amortized Cost | [2],[17],[25],[26],[32] | $ 12,493 | |||||
Investments, at fair value | [2],[4],[17],[25],[26],[32] | $ 9,377 | |||||
Investment, Identifier [Axis]: Goodnight Water Solutions, LLC, Energy—Midstream | |||||||
Variable Rate | [1],[11],[12] | 7% | |||||
Floor Rate | [1],[11],[12] | 0.50% | |||||
Principal amount | [1],[12],[15] | $ 14,741 | |||||
Amortized Cost | [1],[12] | 14,544 | |||||
Investments, at fair value | [1],[3],[12] | $ 14,586 | |||||
Investment, Identifier [Axis]: Goodnight Water Solutions, LLC, Midstream | |||||||
Variable Rate | [2],[17] | 7.25% | |||||
Floor Rate | [2],[17],[20] | 0.50% | |||||
Principal amount | [2],[17],[21] | $ 14,963 | |||||
Amortized Cost | [2],[17] | 14,752 | |||||
Investments, at fair value | [2],[4],[17] | 14,819 | |||||
Investment, Identifier [Axis]: Great Western Petroleum, LLC | |||||||
Investments, at fair value | 0 | 58,055 | |||||
Investment, Identifier [Axis]: Great Western Petroleum, LLC, Common Equity | |||||||
Investments, at fair value | $ 0 | 40,731 | |||||
Investment, Identifier [Axis]: Guitar Center, Inc., Consumer Discretionary Distribution & Retail | |||||||
Rate | [1],[11] | 8.50% | |||||
Principal amount | [1],[15] | $ 10,000 | |||||
Amortized Cost | [1] | 9,131 | |||||
Investments, at fair value | [1],[3] | $ 9,109 | |||||
Investment, Identifier [Axis]: Hamilton Intermediate Holdings, LLC, Power | |||||||
PIK Rate | [2],[17] | 16.50% | |||||
Max PIK Rate | [2],[17] | 16.50% | |||||
Principal amount | [2],[17],[21] | $ 30,391 | |||||
Amortized Cost | [2],[17] | 31,075 | |||||
Investments, at fair value | [2],[4],[17] | $ 31,007 | |||||
Investment, Identifier [Axis]: Hammerhead Resources Inc., Energy—Upstream | |||||||
PIK Rate | [1],[11],[12],[14] | 12% | |||||
Max PIK Rate | [1],[11],[12],[14] | 12% | |||||
Principal amount | [1],[12],[14],[15] | $ 37,225 | |||||
Amortized Cost | [1],[12],[14] | 37,114 | |||||
Investments, at fair value | [1],[3],[12],[14] | 37,225 | |||||
Investment, Identifier [Axis]: Hammerhead Resources Inc., Upstream | |||||||
Variable Rate | [2],[17],[19],[26] | 12% | |||||
Max PIK Rate | [2],[17],[19],[26] | 12% | |||||
Principal amount | [2],[17],[19],[21],[26] | $ 35,118 | |||||
Amortized Cost | [2],[17],[19],[26] | 34,961 | |||||
Investments, at fair value | [2],[4],[17],[19],[26] | 35,118 | |||||
Investment, Identifier [Axis]: Harvest Oil & Gas Corp., Common Equity | |||||||
Investments, at fair value | $ 810 | $ 810 | 2,836 | ||||
Investment, Identifier [Axis]: Harvest Oil & Gas Corp., Common Equity, Energy—Upstream | |||||||
Number of Shares | shares | [1],[12],[23],[35] | 135,062 | |||||
Amortized Cost | [1],[12],[23],[35] | $ 14,418 | |||||
Investments, at fair value | [1],[3],[12],[23],[35] | 810 | |||||
Investment, Identifier [Axis]: Harvest Oil & Gas Corp., Common Equity, Upstream | |||||||
Number of Shares | shares | [2],[25],[26],[36] | 135,062 | |||||
Amortized Cost | [2],[25],[26],[36] | $ 15,059 | |||||
Investments, at fair value | [2],[4],[25],[26],[36] | 810 | |||||
Investment, Identifier [Axis]: Limetree Bay Energy, LLC | |||||||
Investments, at fair value | 0 | 3,166 | |||||
Investment, Identifier [Axis]: Limetree Bay Energy, LLC, Class A Units | |||||||
Investments, at fair value | $ 0 | $ 1,885 | 6,046 | ||||
Investment, Identifier [Axis]: Limetree Bay Energy, LLC, Class A Units, Midstream | |||||||
Number of Shares | shares | [2],[17],[25],[26],[36] | 76,938,973 | |||||
Amortized Cost | [2],[17],[25],[26],[36] | $ 21,458 | |||||
Investments, at fair value | [2],[4],[17],[25],[26],[36] | $ 1,885 | |||||
Investment, Identifier [Axis]: MB Precision Investment Holdings LLC, Class A-2 Units, Industrials | |||||||
Number of Shares | shares | [2],[17],[25],[26],[31] | 1,426,110 | |||||
Amortized Cost | [2],[17],[25],[26],[31] | $ 490 | |||||
Investments, at fair value | [2],[4],[17],[25],[26],[31] | 0 | |||||
Investment, Identifier [Axis]: MECO IV Holdco, LLC | |||||||
Investments, at fair value | 0 | 22,745 | |||||
Investment, Identifier [Axis]: MECO IV Holdco, LLC, Class A-1 Units | |||||||
Investments, at fair value | $ 0 | 4,181 | |||||
Investment, Identifier [Axis]: Maverick Natural Resources, LLC, Common Equity, Energy—Upstream | |||||||
Number of Shares | shares | [1],[12],[30] | 503,176 | |||||
Amortized Cost | [1],[12],[30] | $ 138,208 | |||||
Investments, at fair value | [1],[3],[12],[30] | $ 266,487 | |||||
Investment, Identifier [Axis]: Maverick Natural Resources, LLC, Common Equity, Upstream | |||||||
Number of Shares | shares | [2],[17],[26],[31] | 503,176 | |||||
Amortized Cost | [2],[17],[26],[31] | $ 138,208 | |||||
Investments, at fair value | [2],[4],[17],[26],[31] | $ 312,372 | |||||
Investment, Identifier [Axis]: Mavis Tire Express Services TopCo, LP, Consumer Discretionary Distribution & Retail | |||||||
Variable Rate | [1],[11] | 4% | |||||
Floor Rate | [1],[11] | 0.80% | |||||
Principal amount | [1],[15] | $ 6,982 | |||||
Amortized Cost | [1] | 6,896 | |||||
Investments, at fair value | [1],[3] | $ 6,932 | |||||
Investment, Identifier [Axis]: Medallion Midland Acquisition LP, Midstream | |||||||
Variable Rate | [2] | 3.75% | |||||
Floor Rate | [2],[20] | 0.80% | |||||
Principal amount | [2],[21] | $ 7,920 | |||||
Amortized Cost | [2] | 7,886 | |||||
Investments, at fair value | [2],[4] | $ 7,862 | |||||
Investment, Identifier [Axis]: Meritage Midstream Services II, LLC, Energy—Midstream | |||||||
Variable Rate | [1],[11] | 6.75% | |||||
Floor Rate | [1],[11] | 1% | |||||
Principal amount | [1],[12],[15] | $ 21,857 | |||||
Amortized Cost | [1],[12] | 21,443 | |||||
Investments, at fair value | [1],[3],[12] | $ 21,440 | |||||
Investment, Identifier [Axis]: Moss Creek Resources, LLC, Energy—Upstream | |||||||
Rate | [1],[11] | 7.50% | |||||
Principal amount | [1],[15] | $ 11,693 | |||||
Amortized Cost | [1] | 10,541 | |||||
Investments, at fair value | [1],[3] | $ 10,750 | |||||
Investment, Identifier [Axis]: Moss Creek Resources, LLC, Upstream | |||||||
Rate | [2],[26] | 7.50% | |||||
Principal amount | [2],[21],[26] | $ 11,693 | |||||
Amortized Cost | [2],[26] | 10,358 | |||||
Investments, at fair value | [2],[4],[26] | $ 10,561 | |||||
Investment, Identifier [Axis]: NGL Energy Partners, LP, Preferred Equity, Energy—Midstream | |||||||
Rate | [1],[11],[12],[14],[23],[37] | 14.20% | |||||
Number of Shares | shares | [1],[12],[14],[23],[37] | 156,250 | |||||
Amortized Cost | [1],[12],[14],[23],[37] | $ 157,633 | |||||
Investments, at fair value | [1],[3],[12],[14],[23],[37] | $ 138,531 | |||||
Investment, Identifier [Axis]: NGL Energy Partners, LP, Preferred Equity, Midstream | |||||||
Rate | [2],[17],[19],[25],[26],[32] | 14.20% | |||||
Number of Shares | shares | [2],[17],[19],[25],[26],[32] | 156,250 | |||||
Amortized Cost | [2],[17],[19],[25],[26],[32] | $ 157,633 | |||||
Investments, at fair value | [2],[4],[17],[19],[25],[26],[32] | $ 125,000 | |||||
Investment, Identifier [Axis]: NGL Energy Partners, LP, Warrants (Par), Strike: $13.56, Midstream | |||||||
Strike price (in dollars per share) | $ / shares | [2],[17],[19],[25],[26] | $ 13.56 | |||||
Number of Shares | shares | [2],[17],[19],[25],[26] | 546,880 | |||||
Amortized Cost | [2],[17],[19],[25],[26] | $ 630 | |||||
Investments, at fair value | [2],[4],[17],[19],[25],[26] | $ 3 | |||||
Investment, Identifier [Axis]: NGL Energy Partners, LP, Warrants (Par), Strike: $14.54, Energy—Midstream | |||||||
Strike price (in dollars per share) | $ / shares | [1],[12],[14],[23] | $ 14.54 | |||||
Number of Shares | shares | [1],[12],[14],[23] | 2,187,500 | |||||
Amortized Cost | [1],[12],[14],[23] | $ 3,083 | |||||
Investments, at fair value | [1],[3],[12],[14],[23] | $ 809 | |||||
Investment, Identifier [Axis]: NGL Energy Partners, LP, Warrants (Par), Strike: $14.54, Midstream | |||||||
Strike price (in dollars per share) | $ / shares | [2],[17],[19],[25],[26] | $ 14.54 | |||||
Number of Shares | shares | [2],[17],[19],[25],[26] | 2,187,500 | |||||
Amortized Cost | [2],[17],[19],[25],[26] | $ 3,083 | |||||
Investments, at fair value | [2],[4],[17],[19],[25],[26] | $ 10 | |||||
Investment, Identifier [Axis]: NGL Energy Partners, LP, Warrants (Par), Strike:$13.56, Energy—Midstream | |||||||
Strike price (in dollars per share) | $ / shares | [1],[12],[14],[23] | $ 13.56 | |||||
Number of Shares | shares | [1],[12],[14],[23] | 546,880 | |||||
Amortized Cost | [1],[12],[14],[23] | $ 630 | |||||
Investments, at fair value | [1],[3],[12],[14],[23] | $ 202 | |||||
Investment, Identifier [Axis]: NGL Energy Partners, LP, Warrants (Premium), Strike: $16.27, Energy—Midstream | |||||||
Strike price (in dollars per share) | $ / shares | [1],[12],[14],[23] | $ 16.27 | |||||
Number of Shares | shares | [1],[12],[14],[23] | 781,250 | |||||
Amortized Cost | [1],[12],[14],[23] | $ 576 | |||||
Investments, at fair value | [1],[3],[12],[14],[23] | $ 213 | |||||
Investment, Identifier [Axis]: NGL Energy Partners, LP, Warrants (Premium), Strike: $16.27, Midstream | |||||||
Strike price (in dollars per share) | $ / shares | [2],[17],[19],[25],[26] | $ 16.27 | |||||
Number of Shares | shares | [2],[17],[19],[25],[26] | 781,250 | |||||
Amortized Cost | [2],[17],[19],[25],[26] | $ 576 | |||||
Investments, at fair value | [2],[4],[17],[19],[25],[26] | $ 2 | |||||
Investment, Identifier [Axis]: NGL Energy Partners, LP, Warrants (Premium), Strike: $17.45, Energy—Midstream | |||||||
Strike price (in dollars per share) | $ / shares | [1],[12],[14],[23] | $ 17.45 | |||||
Number of Shares | shares | [1],[12],[14],[23] | 3,125,000 | |||||
Amortized Cost | [1],[12],[14],[23] | $ 2,623 | |||||
Investments, at fair value | [1],[3],[12],[14],[23] | $ 886 | |||||
Investment, Identifier [Axis]: NGL Energy Partners, LP, Warrants (Premium), Strike: $17.45, Midstream | |||||||
Strike price (in dollars per share) | $ / shares | [2],[17],[19],[25],[26] | $ 17.45 | |||||
Number of Shares | shares | [2],[17],[19],[25],[26] | 3,125,000 | |||||
Amortized Cost | [2],[17],[19],[25],[26] | $ 2,623 | |||||
Investments, at fair value | [2],[4],[17],[19],[25],[26] | $ 8 | |||||
Investment, Identifier [Axis]: NRG Energy, Inc., Power | |||||||
Rate | [2],[19] | 3.90% | |||||
Principal amount | [2],[19],[21] | $ 19,125 | |||||
Amortized Cost | [2],[19] | 18,668 | |||||
Investments, at fair value | [2],[4],[19] | $ 14,401 | |||||
Investment, Identifier [Axis]: Navios Logistics Finance, Inc., Transportation | |||||||
Rate | [1],[11],[14] | 10.80% | |||||
Principal amount | [1],[14],[15] | $ 5,000 | |||||
Amortized Cost | [1],[14] | 4,875 | |||||
Investments, at fair value | [1],[3],[14] | $ 4,830 | |||||
Investment, Identifier [Axis]: NuStar, Preferred Equity, Energy—Midstream | |||||||
Rate | [1],[11],[12],[14] | 12.80% | |||||
Number of Shares | shares | [1],[12],[14] | 1,751,951 | |||||
Amortized Cost | [1],[12],[14] | $ 49,215 | |||||
Investments, at fair value | [1],[3],[12],[14] | $ 55,433 | |||||
Investment, Identifier [Axis]: NuStar, Preferred Equity, Midstream | |||||||
Rate | [2],[17],[19],[26] | 12.80% | |||||
Number of Shares | shares | [2],[17],[19],[26] | 2,640,311 | |||||
Amortized Cost | [2],[17],[19],[26] | $ 73,114 | |||||
Investments, at fair value | [2],[4],[17],[19],[26] | $ 83,590 | |||||
Investment, Identifier [Axis]: OE2 North, LLC, Midstream 1 | |||||||
Variable Rate | [2],[17] | 5.25% | |||||
Floor Rate | [2],[17],[20] | 1% | |||||
Principal amount | [2],[17],[21] | $ 18,659 | |||||
Amortized Cost | [2],[17] | 18,579 | |||||
Investments, at fair value | [2],[4],[17] | $ 18,847 | |||||
Investment, Identifier [Axis]: OE2 North, LLC, Midstream 2 | |||||||
Variable Rate | [2],[17],[22] | 5.25% | |||||
Floor Rate | [2],[17],[20],[22] | 1% | |||||
Principal amount | [2],[17],[21],[22] | $ 11,341 | |||||
Amortized Cost | [2],[17],[22] | 11,341 | |||||
Investments, at fair value | [2],[4],[17],[22] | $ 11,455 | |||||
Investment, Identifier [Axis]: Oryx Midstream Services Permian Basin LLC, Midstream | |||||||
Variable Rate | [2],[26] | 3.25% | |||||
Floor Rate | [2],[20],[26] | 0.50% | |||||
Principal amount | [2],[21],[26] | $ 32,357 | |||||
Amortized Cost | [2],[26] | 32,220 | |||||
Investments, at fair value | [2],[4],[26] | $ 32,026 | |||||
Investment, Identifier [Axis]: Parkway Generation LLC, Energy—Power 1 | |||||||
Variable Rate | [1],[11] | 4.75% | |||||
Floor Rate | [1],[11] | 0.80% | |||||
Principal amount | [1],[15] | $ 5,760 | |||||
Amortized Cost | [1] | 5,711 | |||||
Investments, at fair value | [1],[3] | $ 5,631 | |||||
Investment, Identifier [Axis]: Parkway Generation LLC, Energy—Power 2 | |||||||
Variable Rate | [1],[11] | 4.75% | |||||
Floor Rate | [1],[11] | 0.80% | |||||
Principal amount | [1],[15] | $ 43,689 | |||||
Amortized Cost | [1] | 43,317 | |||||
Investments, at fair value | [1],[3] | 42,710 | |||||
Investment, Identifier [Axis]: Parkway Generation LLC, Power 1 | |||||||
Variable Rate | [2] | 4.75% | |||||
Floor Rate | [2],[20] | 0.80% | |||||
Principal amount | [2],[21] | $ 5,760 | |||||
Amortized Cost | [2] | 5,708 | |||||
Investments, at fair value | [2],[4] | $ 5,700 | |||||
Investment, Identifier [Axis]: Parkway Generation LLC, Power 2 | |||||||
Variable Rate | [2] | 4.75% | |||||
Floor Rate | [2],[20] | 0.80% | |||||
Principal amount | [2],[21] | $ 43,910 | |||||
Amortized Cost | [2] | 43,513 | |||||
Investments, at fair value | [2],[4] | $ 43,285 | |||||
Investment, Identifier [Axis]: Peak Exploration & Production, LLC, Upstream 1 | |||||||
Variable Rate | [2],[17],[26] | 6.75% | |||||
Floor Rate | [2],[17],[20],[26] | 1.50% | |||||
Principal amount | [2],[17],[21],[26] | $ 13,545 | |||||
Amortized Cost | [2],[17],[26] | 13,528 | |||||
Investments, at fair value | [2],[4],[17],[26] | $ 13,394 | |||||
Investment, Identifier [Axis]: Peak Exploration & Production, LLC, Upstream 2 | |||||||
Variable Rate | [2],[17],[22] | 6.75% | |||||
Floor Rate | [2],[17],[20],[22] | 1.50% | |||||
Principal amount | [2],[17],[21],[22] | $ 1,505 | |||||
Amortized Cost | [2],[17],[22] | 1,505 | |||||
Investments, at fair value | [2],[4],[17],[22] | 1,488 | |||||
Investment, Identifier [Axis]: Permian Production Holdings, LLC | |||||||
Investments, at fair value | 4,815 | 4,767 | 7,889 | ||||
Investment, Identifier [Axis]: Permian Production Holdings, LLC, Common Equity | |||||||
Investments, at fair value | $ 5,710 | $ 11,420 | 8,829 | ||||
Investment, Identifier [Axis]: Permian Production Holdings, LLC, Common Equity, Energy—Upstream | |||||||
Number of Shares | shares | [1],[12],[23],[30],[35] | 1,968,861 | |||||
Amortized Cost | [1],[12],[23],[30],[35] | $ 5 | |||||
Investments, at fair value | [1],[3],[12],[23],[30],[35] | $ 5,710 | |||||
Investment, Identifier [Axis]: Permian Production Holdings, LLC, Common Equity, Upstream | |||||||
Number of Shares | shares | [2],[17],[26],[31],[36] | 1,968,861 | |||||
Amortized Cost | [2],[17],[26],[31],[36] | $ 5 | |||||
Investments, at fair value | [2],[4],[17],[26],[31],[36] | $ 11,420 | |||||
Investment, Identifier [Axis]: Permian Production Holdings, LLC, Energy—Upstream | |||||||
PIK Rate | [1],[11],[12],[35] | 2% | |||||
Max PIK Rate | [1],[11],[12],[35] | 2% | |||||
Rate | [1],[11],[12],[35] | 7% | |||||
Principal amount | [1],[12],[15],[35] | $ 4,815 | |||||
Amortized Cost | [1],[12],[35] | 4,379 | |||||
Investments, at fair value | [1],[3],[12],[35] | $ 4,815 | |||||
Investment, Identifier [Axis]: Permian Production Holdings, LLC, Upstream | |||||||
PIK Rate | [2],[17],[26],[36] | 2% | |||||
Max PIK Rate | [2],[17],[26],[36] | 2% | |||||
Rate | [2],[17],[26],[36] | 7% | |||||
Principal amount | [2],[17],[21],[26],[36] | $ 4,767 | |||||
Amortized Cost | [2],[17],[26],[36] | 4,266 | |||||
Investments, at fair value | [2],[4],[17],[26],[36] | $ 4,767 | |||||
Investment, Identifier [Axis]: Permian Resources Operating LLC, Upstream 1 | |||||||
Rate | [2] | 7.80% | |||||
Principal amount | [2],[21] | $ 26,365 | |||||
Amortized Cost | [2] | 27,511 | |||||
Investments, at fair value | [2],[4] | $ 25,703 | |||||
Investment, Identifier [Axis]: Permian Resources Operating LLC, Upstream 2 | |||||||
Rate | [2],[26] | 5.90% | |||||
Principal amount | [2],[21],[26] | $ 5,200 | |||||
Amortized Cost | [2],[26] | 5,257 | |||||
Investments, at fair value | [2],[4],[26] | $ 4,473 | |||||
Investment, Identifier [Axis]: Pinnacle Midland Gas Holdco LLC, Energy—Midstream | |||||||
Variable Rate | [1],[11],[12] | 6.75% | |||||
Floor Rate | [1],[11],[12] | 1% | |||||
Principal amount | [1],[12],[15] | $ 9,370 | |||||
Amortized Cost | [1],[12] | 9,338 | |||||
Investments, at fair value | [1],[3],[12] | $ 9,294 | |||||
Investment, Identifier [Axis]: Pinnacle Midland Gas Holdco LLC, Midstream 1 | |||||||
Variable Rate | [2],[17] | 6.75% | |||||
Floor Rate | [2],[17],[20] | 1% | |||||
Principal amount | [2],[17],[21] | $ 9,370 | |||||
Amortized Cost | [2],[17] | 9,304 | |||||
Investments, at fair value | [2],[4],[17] | $ 9,310 | |||||
Investment, Identifier [Axis]: Pinnacle Midland Gas Holdco LLC, Midstream 2 | |||||||
Variable Rate | [2],[17],[22] | 6.75% | |||||
Floor Rate | [2],[17],[20],[22] | 1% | |||||
Principal amount | [2],[17],[21],[22] | $ 2,477 | |||||
Amortized Cost | [2],[17],[22] | 2,477 | |||||
Investments, at fair value | [2],[4],[17],[22] | $ 2,461 | |||||
Investment, Identifier [Axis]: Plainfield Renewable Energy Holdings LLC, Energy—Power 1 | |||||||
PIK Rate | [1],[11],[12],[23],[37] | 9.50% | |||||
Max PIK Rate | [1],[11],[12],[23],[37] | 9.50% | |||||
Rate | [1],[11],[12],[23],[37] | 6% | |||||
Principal amount | [1],[12],[15],[23],[37] | $ 13,297 | |||||
Amortized Cost | [1],[12],[23],[37] | 12,329 | |||||
Investments, at fair value | [1],[3],[12],[23],[37] | $ 9,565 | |||||
Investment, Identifier [Axis]: Plainfield Renewable Energy Holdings LLC, Energy—Power 2 | |||||||
PIK Rate | [1],[11],[12],[23],[37] | 10% | |||||
Max PIK Rate | [1],[11],[12],[23],[37] | 10% | |||||
Principal amount | [1],[12],[15],[23],[37] | $ 4,015 | |||||
Amortized Cost | [1],[12],[23],[37] | 3,827 | |||||
Investments, at fair value | [1],[3],[12],[23],[37] | $ 0 | |||||
Investment, Identifier [Axis]: Plainfield Renewable Energy Holdings LLC, Letter of Credit, Energy—Power | |||||||
Rate | [1],[11],[12],[16] | 10% | |||||
Principal amount | [1],[12],[15],[16] | $ 2,709 | |||||
Amortized Cost | [1],[12],[16] | 2,709 | |||||
Investments, at fair value | [1],[3],[12],[16] | $ 0 | |||||
Investment, Identifier [Axis]: Plainfield Renewable Energy Holdings LLC, Letter of Credit, Power | |||||||
Rate | [2],[17],[22] | 10% | |||||
Principal amount | [2],[17],[21],[22] | $ 2,709 | |||||
Amortized Cost | [2],[17],[22] | 2,709 | |||||
Investments, at fair value | [2],[4],[17],[22] | $ 0 | |||||
Investment, Identifier [Axis]: Plainfield Renewable Energy Holdings LLC, Power 1 | |||||||
PIK Rate | [2],[17],[26] | 9.50% | |||||
Max PIK Rate | [2],[17],[26] | 9.50% | |||||
Rate | [2],[17],[26] | 6% | |||||
Principal amount | [2],[17],[21],[26] | $ 12,121 | |||||
Amortized Cost | [2],[17],[26] | 12,121 | |||||
Investments, at fair value | [2],[4],[17],[26] | $ 9,997 | |||||
Investment, Identifier [Axis]: Plainfield Renewable Energy Holdings LLC, Power 2 | |||||||
PIK Rate | [2],[17],[26] | 10% | |||||
Max PIK Rate | [2],[17],[26] | 10% | |||||
Principal amount | [2],[17],[21],[26] | $ 3,643 | |||||
Amortized Cost | [2],[17],[26] | 3,643 | |||||
Investments, at fair value | [2],[4],[17],[26] | $ 0 | |||||
Investment, Identifier [Axis]: Potomac Energy Center, LLC, Energy—Power | |||||||
Variable Rate | [1],[11],[12] | 6% | |||||
Floor Rate | [1],[11],[12] | 0.50% | |||||
Principal amount | [1],[12],[15] | $ 58,164 | |||||
Amortized Cost | [1],[12] | 57,313 | |||||
Investments, at fair value | [1],[3],[12] | 53,753 | |||||
Investment, Identifier [Axis]: Potomac Energy Center, LLC, Power | |||||||
Variable Rate | [2],[17] | 6% | |||||
Floor Rate | [2],[17],[20] | 0.50% | |||||
Principal amount | [2],[17],[21] | $ 58,459 | |||||
Amortized Cost | [2],[17] | 57,508 | |||||
Investments, at fair value | [2],[4],[17] | $ 58,443 | |||||
Investment, Identifier [Axis]: Ranger Oil Corp., Upstream | |||||||
Rate | [2],[19] | 9.30% | |||||
Principal amount | [2],[19],[21] | $ 29,772 | |||||
Amortized Cost | [2],[19] | 29,633 | |||||
Investments, at fair value | [2],[4],[19] | 29,678 | |||||
Investment, Identifier [Axis]: Ridgeback Resources Inc., Common Equity | |||||||
Investments, at fair value | $ 0 | $ 41,851 | 48,356 | ||||
Investment, Identifier [Axis]: Ridgeback Resources Inc., Common Equity, Upstream | |||||||
Number of Shares | shares | [2],[17],[19],[26],[36],[38] | 9,599,928 | |||||
Amortized Cost | [2],[17],[19],[26],[36],[38] | $ 46,599 | |||||
Investments, at fair value | [2],[4],[17],[19],[26],[36],[38] | $ 41,851 | |||||
Investment, Identifier [Axis]: ST EIP Holdings Inc., Energy—Midstream | |||||||
Rate | [1],[11],[12] | 6.30% | |||||
Principal amount | [1],[12],[15] | $ 10,473 | |||||
Amortized Cost | [1],[12] | 10,037 | |||||
Investments, at fair value | [1],[3],[12] | $ 10,015 | |||||
Investment, Identifier [Axis]: ST EIP Holdings Inc., Midstream | |||||||
Rate | [2],[17] | 6.30% | |||||
Principal amount | [2],[17],[21] | $ 10,526 | |||||
Amortized Cost | [2],[17] | 10,064 | |||||
Investments, at fair value | [2],[4],[17] | $ 10,074 | |||||
Investment, Identifier [Axis]: Saturn Oil & Gas Inc., Common Equity, Energy—Upstream | |||||||
Number of Shares | shares | [1],[14],[23],[39] | 1,612,683 | |||||
Amortized Cost | [1],[14],[23],[39] | $ 3,052 | |||||
Investments, at fair value | [1],[3],[14],[23],[39] | $ 2,674 | |||||
Investment, Identifier [Axis]: Segreto Power Holdings, LLC, Preferred Equity, Power | |||||||
Rate | [2],[17],[25],[26],[31],[32] | 13.10% | |||||
Number of Shares | shares | [2],[17],[25],[26],[31],[32] | 70,297 | |||||
Amortized Cost | [2],[17],[25],[26],[31],[32] | $ 99,766 | |||||
Investments, at fair value | [2],[4],[17],[25],[26],[31],[32] | $ 83,647 | |||||
Investment, Identifier [Axis]: SilverBow Resources, Inc., Energy—Upstream | |||||||
Variable Rate | [1],[11],[12],[14] | 7.50% | |||||
Floor Rate | [1],[11],[12],[14] | 1% | |||||
Principal amount | [1],[12],[14],[15] | $ 14,250 | |||||
Amortized Cost | [1],[12],[14] | 14,211 | |||||
Investments, at fair value | [1],[3],[12],[14] | $ 14,313 | |||||
Investment, Identifier [Axis]: SilverBow Resources, Inc., Upstream | |||||||
Variable Rate | [2],[17],[19],[26] | 7.50% | |||||
Floor Rate | [2],[17],[19],[20],[26] | 1% | |||||
Principal amount | [2],[17],[19],[21],[26] | $ 14,250 | |||||
Amortized Cost | [2],[17],[19],[26] | 14,199 | |||||
Investments, at fair value | [2],[4],[17],[19],[26] | $ 14,322 | |||||
Investment, Identifier [Axis]: Sitio Royalties Operating Partnership, LP, Energy—Upstream | |||||||
Variable Rate | [1],[11],[12],[14] | 5.75% | |||||
Floor Rate | [1],[11],[12],[14] | 1.50% | |||||
Principal amount | [1],[12],[14],[15] | $ 18,500 | |||||
Amortized Cost | [1],[12],[14] | 18,350 | |||||
Investments, at fair value | [1],[3],[12],[14] | 18,289 | |||||
Investment, Identifier [Axis]: Sitio Royalties Operating Partnership, LP, Upstream | |||||||
Variable Rate | [2],[17],[19],[26] | 6.50% | |||||
Floor Rate | [2],[17],[19],[20],[26] | 1.50% | |||||
Principal amount | [2],[17],[19],[21],[26] | $ 19,500 | |||||
Amortized Cost | [2],[17],[19],[26] | 19,318 | |||||
Investments, at fair value | [2],[4],[17],[19],[26] | $ 19,256 | |||||
Investment, Identifier [Axis]: Suburban Propane Partners LP, Midstream | |||||||
Rate | [2],[19],[26] | 5% | |||||
Principal amount | [2],[19],[21],[26] | $ 7,590 | |||||
Amortized Cost | [2],[19],[26] | 7,837 | |||||
Investments, at fair value | [2],[4],[19],[26] | 6,461 | |||||
Investment, Identifier [Axis]: Sustainable Infrastructure Investments, LLC 2 | |||||||
Investments, at fair value | 50,149 | 51,098 | 50,770 | ||||
Investment, Identifier [Axis]: Sustainable Infrastructure Investments, LLC, Energy—Power | |||||||
Principal amount | [1],[12],[14],[15],[23],[29] | 60,603 | |||||
Amortized Cost | [1],[12],[14],[23],[29] | 54,514 | |||||
Investments, at fair value | [1],[3],[12],[14],[23],[29] | $ 50,149 | |||||
Investment, Identifier [Axis]: Sustainable Infrastructure Investments, LLC, Power | |||||||
Principal amount | [2],[6],[17],[24] | 60,603 | |||||
Amortized Cost | [2],[6],[17],[24] | 54,514 | |||||
Investments, at fair value | [2],[4],[6],[17],[24] | $ 51,098 | |||||
Investment, Identifier [Axis]: Swift Worldwide Resources Holdco Limited, Common Equity, Service & Equipment | |||||||
Number of Shares | shares | [2],[17],[19],[25],[26],[40] | 3,750,000 | |||||
Amortized Cost | [2],[17],[19],[25],[26],[40] | $ 6,029 | |||||
Investments, at fair value | [2],[4],[17],[19],[25],[26],[40] | $ 3,131 | |||||
Investment, Identifier [Axis]: TKC Holdings, Inc., Consumer Staples Distribution & Retail | |||||||
Variable Rate | [1],[11] | 5.50% | |||||
Floor Rate | [1],[11] | 1% | |||||
Principal amount | [1],[15] | $ 4,747 | |||||
Amortized Cost | [1] | 4,439 | |||||
Investments, at fair value | [1],[3] | 4,467 | |||||
Investment, Identifier [Axis]: Tallgrass Energy Partners, LP, Midstream | |||||||
Rate | [2],[26] | 6% | |||||
Principal amount | [2],[21],[26] | $ 19,761 | |||||
Amortized Cost | [2],[26] | 19,676 | |||||
Investments, at fair value | [2],[4],[26] | 18,480 | |||||
Investment, Identifier [Axis]: Telpico, LLC, Common Equity | |||||||
Investments, at fair value | $ 0 | $ 0 | 0 | ||||
Investment, Identifier [Axis]: Telpico, LLC, Common Equity, Energy—Upstream | |||||||
Number of Shares | shares | [1],[12],[23],[30],[35] | 50 | |||||
Amortized Cost | [1],[12],[23],[30],[35] | $ 0 | |||||
Investments, at fair value | [1],[3],[12],[23],[30],[35] | $ 0 | |||||
Investment, Identifier [Axis]: Telpico, LLC, Common Equity, Upstream | |||||||
Number of Shares | shares | [2],[17],[25],[26],[31],[36] | 50 | |||||
Amortized Cost | [2],[17],[25],[26],[31],[36] | $ 0 | |||||
Investments, at fair value | [2],[4],[17],[25],[26],[31],[36] | $ 0 | |||||
Investment, Identifier [Axis]: Tenrgys, LLC, Common Equity, Energy—Upstream | |||||||
Number of Shares | shares | [1],[12],[23],[30] | 50 | |||||
Amortized Cost | [1],[12],[23],[30] | $ 7,571 | |||||
Investments, at fair value | [1],[3],[12],[23],[30] | $ 4,531 | |||||
Investment, Identifier [Axis]: Tenrgys, LLC, Common Equity, Upstream | |||||||
Number of Shares | shares | [2],[17],[25],[26],[31] | 50 | |||||
Amortized Cost | [2],[17],[25],[26],[31] | $ 7,571 | |||||
Investments, at fair value | [2],[4],[17],[25],[26],[31] | $ 6,801 | |||||
Investment, Identifier [Axis]: Tenrgys, LLC, Energy—Upstream | |||||||
Variable Rate | [1],[11],[12] | 7.50% | |||||
Max PIK Rate | [1],[11],[12] | 9.50% | |||||
Floor Rate | [1],[11],[12] | 1% | |||||
Principal amount | [1],[12],[15] | $ 20,537 | |||||
Amortized Cost | [1],[12] | 20,537 | |||||
Investments, at fair value | [1],[3],[12] | $ 19,613 | |||||
Investment, Identifier [Axis]: Tenrgys, LLC, Upstream | |||||||
Variable Rate | [2],[17],[26] | 7.50% | |||||
Max PIK Rate | [2],[17],[26] | 9.50% | |||||
Floor Rate | [2],[17],[20],[26] | 1% | |||||
Principal amount | [2],[17],[21],[26] | $ 20,537 | |||||
Amortized Cost | [2],[17],[26] | 20,537 | |||||
Investments, at fair value | [2],[4],[17],[26] | $ 20,537 | |||||
Investment, Identifier [Axis]: Traverse Midstream Partners LLC, Midstream | |||||||
Variable Rate | [2] | 4.25% | |||||
Floor Rate | [2],[20] | 1% | |||||
Principal amount | [2],[21] | $ 28,436 | |||||
Amortized Cost | [2] | 28,484 | |||||
Investments, at fair value | [2],[4] | $ 28,418 | |||||
Investment, Identifier [Axis]: TruGreen, LP, Commercial & Professional Services | |||||||
Variable Rate | [1],[11] | 4% | |||||
Floor Rate | [1],[11] | 0.80% | |||||
Principal amount | [1],[15] | $ 4,987 | |||||
Amortized Cost | [1] | 4,551 | |||||
Investments, at fair value | [1],[3] | $ 4,603 | |||||
Investment, Identifier [Axis]: USA Compression Partners, LP, Common Equity, Energy—Midstream | |||||||
Number of Shares | shares | [1],[14] | 84,779 | |||||
Amortized Cost | [1],[14] | $ 1,617 | |||||
Investments, at fair value | [1],[3],[14] | $ 1,673 | |||||
Investment, Identifier [Axis]: USA Compression Partners, LP, Common Equity, Midstream | |||||||
Number of Shares | shares | [2],[19],[25],[26] | 84,779 | |||||
Amortized Cost | [2],[19],[25],[26] | $ 1,617 | |||||
Investments, at fair value | [2],[4],[19],[25],[26] | $ 1,655 | |||||
Investment, Identifier [Axis]: USA Compression Partners, LP, Preferred Equity, Energy—Midstream | |||||||
Rate | [1],[11],[12],[14] | 9.80% | |||||
Number of Shares | shares | [1],[12],[14] | 79,336 | |||||
Amortized Cost | [1],[12],[14] | $ 78,041 | |||||
Investments, at fair value | [1],[3],[12],[14] | $ 88,850 | |||||
Investment, Identifier [Axis]: USA Compression Partners, LP, Preferred Equity, Midstream | |||||||
Rate | [2],[17] | 9.80% | |||||
Number of Shares | shares | [2],[17] | 79,336 | |||||
Amortized Cost | [2],[17] | $ 77,943 | |||||
Investments, at fair value | [2],[4],[17] | $ 90,479 | |||||
Investment, Identifier [Axis]: USA Compression Partners, LP, Warrants (Premium), Strike: $19.59, Energy—Midstream | |||||||
Strike price (in dollars per share) | $ / shares | [1],[12],[14],[23] | $ 19.59 | |||||
Number of Shares | shares | [1],[12],[14],[23] | 1,586,719 | |||||
Amortized Cost | [1],[12],[14],[23] | $ 714 | |||||
Investments, at fair value | [1],[3],[12],[14],[23] | 4,990 | |||||
Investment, Identifier [Axis]: USA Compression Partners, LP, Warrants (Premium), Strike: $19.59, Midstream | |||||||
Strike price (in dollars per share) | $ / shares | [2],[17],[19],[25],[26] | $ 19.59 | |||||
Number of Shares | shares | [2],[17],[19],[25],[26] | 1,586,719 | |||||
Amortized Cost | [2],[17],[19],[25],[26] | $ 714 | |||||
Investments, at fair value | [2],[4],[17],[19],[25],[26] | 5,711 | |||||
Investment, Identifier [Axis]: Warren Resources, Inc. | |||||||
Investments, at fair value | 23,703 | 23,584 | 23,688 | ||||
Investment, Identifier [Axis]: Warren Resources, Inc., Common Equity | |||||||
Investments, at fair value | $ 29,431 | $ 36,982 | $ 25,854 | ||||
Investment, Identifier [Axis]: Warren Resources, Inc., Common Equity, Energy—Upstream | |||||||
Number of Shares | shares | [1],[12],[23],[29] | 4,415,749 | |||||
Amortized Cost | [1],[12],[23],[29] | $ 20,754 | |||||
Investments, at fair value | [1],[3],[12],[23],[29] | $ 29,431 | |||||
Investment, Identifier [Axis]: Warren Resources, Inc., Common Equity, Upstream | |||||||
Number of Shares | shares | [2],[17],[24],[25],[26] | 4,415,749 | |||||
Amortized Cost | [2],[17],[24],[25],[26] | $ 20,754 | |||||
Investments, at fair value | [2],[4],[17],[24],[25],[26] | $ 36,982 | |||||
Investment, Identifier [Axis]: Warren Resources, Inc., Energy—Upstream | |||||||
Variable Rate | [1],[11],[12],[29] | 9% | |||||
PIK Rate | [1],[11],[12],[29] | 1% | |||||
Max PIK Rate | [1],[11],[12],[29] | 1% | |||||
Floor Rate | [1],[11],[12],[29] | 1% | |||||
Principal amount | [1],[12],[15],[29] | $ 23,703 | |||||
Amortized Cost | [1],[12],[29] | 23,703 | |||||
Investments, at fair value | [1],[3],[12],[29] | $ 23,703 | |||||
Investment, Identifier [Axis]: Warren Resources, Inc., Upstream | |||||||
Variable Rate | [2],[17],[24] | 9% | |||||
PIK Rate | [2],[17],[24] | 1% | |||||
Max PIK Rate | [2],[17],[24] | 1% | |||||
Floor Rate | [2],[17],[20],[24] | 1% | |||||
Principal amount | [2],[17],[21],[24] | $ 23,584 | |||||
Amortized Cost | [2],[17],[24] | 23,584 | |||||
Investments, at fair value | [2],[4],[17],[24] | $ 23,584 | |||||
Investment, Identifier [Axis]: Wattbridge Inc., Energy—Power | |||||||
Variable Rate | [1],[11],[12] | 9.85% | |||||
Floor Rate | [1],[11],[12] | 1.80% | |||||
Principal amount | [1],[12],[15] | $ 42,938 | |||||
Amortized Cost | [1],[12] | 42,938 | |||||
Investments, at fair value | [1],[3],[12] | $ 41,568 | |||||
Investment, Identifier [Axis]: Wattbridge Inc., Power | |||||||
Variable Rate | [2],[17] | 7.85% | |||||
Floor Rate | [2],[17],[20] | 1.80% | |||||
Principal amount | [2],[17],[21] | $ 42,500 | |||||
Amortized Cost | [2],[17] | 42,500 | |||||
Investments, at fair value | [2],[4],[17] | $ 41,880 | |||||
[1]Security may be an obligation of one or more entities affiliated with the named company.[2]Security may be an obligation of one or more entities affiliated with the named company.[3]See Note 8 for additional information regarding the fair value of the Company’s financial instruments.[4]See Note 8 for additional information regarding the fair value of the Company’s financial instruments.[5]Includes the effect of swap contracts.[6]Includes the effect of swap contracts.[7]Represents the amounts the Company would pay or receive under each swap contract if it were to settle on June 30, 2023 (see Note 6). June 30, 2023 , the three-month London Interbank Offered Rate, or LIBOR, or L, was 5.55% and the Secured Overnight Financing Rate, or SOFR, or S, was 5.27%. PIK means paid-in-kind. PIK income accruals may be adjusted based on the fair value of the underlying investment. Variable rate securities with no floor rate use the respective benchmark rate in all cases. June 30, 2023 , 73.7% of the Company’s total assets represented qualifying assets. L, was 4.77% and the Secured Overnight Financing Rate, or SOFR, or S, was 4.59%. PIK means paid-in-kind. PIK income accruals may be adjusted based on the fair value of the underlying investment. Variable rate securities with no floor rate use the respective benchmark rate in all cases. Under the 1940 Act, the Company generally is deemed to “control” a portfolio company if it owns more than 25% of the portfolio company’s voting securities or it has the power to exercise control over the management or policies of such portfolio company. As of December 31, 2022 , the Company held investments in portfolio companies of which it is deemed to be an “affiliated person” of and deemed to “control.” The following table presents certain information with respect to investments in portfolio companies of which the Company was deemed to be an affiliated person and deemed to control as of December 31, 2022 : Portfolio Company Fair Value at December 31, 2021 Gross Additions (1) Gross Reductions (2) Net Realized Gain (Loss) Net Change in Unrealized Appreciation (Depreciation) Fair Value at December 31, 2022 Interest Income (3) PIK Income (3) Dividend Income (3) Senior Secured Loans—First Lien Allied Downhole Technologies, LLC (4) $ 7,782 $ 654 $ — $ — $ — $ 8,436 $ — $ 654 $ — Allied Wireline Services, LLC 46,339 5,808 — — 11,741 63,888 316 5,808 — MECO IV Holdco, LLC 22,745 455 (23,200) — — — — 455 — Warren Resources, Inc. 23,688 237 (341) — — 23,584 2,620 237 — Sustainable Infrastructure Investments, LLC Sustainable Infrastructure Investments, LLC 50,770 — — — 328 51,098 — — 735 Equity/Other Allied Wireline Services, LLC, Common Equity — — — — 10,463 10,463 — — — Allied Wireline Services, LLC, Warrants — — — — — — — — — MECO IV Holdco, LLC, Class A-1 Units 4,181 — (18,060) 15,899 (2,020) — — — — Warren Resources, Inc., Common Equity 25,854 — — — 11,128 36,982 — — — $ 181,359 $ 7,154 $ (41,601) $ 15,899 $ 31,640 $ 194,451 $ 2,936 $ 7,154 $ 735 _____________ (1) Gross additions may include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, the amortization of unearned income, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company into this category from a different category. (2) Gross reductions may include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company out of this category into a different category. (3) Interest, PIK and dividend income presented for the year ended December 31, 2022. ( 4) Security includes a partially unfunded commitment with amortized cost of $2,500 and fair value of $2,500. ( 4) Security includes a partially unfunded commitment with amortized cost of $2,500 and fair value of $2,500. Portfolio Company Fair Value at December 31, 2022 Gross Additions (1) Gross Reductions (2) Net Realized Gain (Loss) Net Change in Unrealized Appreciation (Depreciation) Fair Value at June 30, 2023 Interest Income (3) PIK Income (3) Senior Secured Loans—First Lien Allied Downhole Technologies, LLC (4) $ 8,436 $ 113 $ (996) $ — $ — $ 7,553 $ 207 $ 113 Allied Wireline Services, LLC 63,888 6,389 — — — 70,277 3,223 — Warren Resources, Inc. 23,584 119 — — — 23,703 1,648 119 Sustainable Infrastructure Investments, LLC Sustainable Infrastructure Investments, LLC 51,098 — — — (949) 50,149 — — Equity/Other Allied Wireline Services, LLC, Common Equity 10,463 — — — (2,395) 8,068 — — Allied Wireline Services, LLC, Warrants — — — — — — — — Warren Resources, Inc., Common Equity 36,982 — — — (7,551) 29,431 — — $ 194,451 $ 6,621 $ (996) $ — $ (10,895) $ 189,181 $ 5,078 $ 232 _____________ (1) Gross additions may include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, the amortization of unearned income, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company into this category from a different category. (2) Gross reductions may include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company out of this category into a different category. (3) Interest and PIK income presented for the six months ended June 30, 2023. ( 4) Security includes a partially unfunded commitment with amortized cost of $2,500 and fair value of $2,500. December 31, 2022 . Under the 1940 Act, the Company generally is deemed to be an “affiliated person” of a portfolio company if it owns 5% or more of the portfolio company’s voting securities and generally is deemed to “control” a portfolio company if it owns more than 25% of the portfolio company’s voting securities or it has the power to exercise control over the management or policies of such portfolio company. As of June 30, 2023, the Company held investments in portfolio companies of which it is deemed to be an “affiliated person” but is not deemed to “control”. The following table presents certain information with respect to investments in portfolio companies of which the Company was deemed to be an affiliated person as of June 30, 2023: Portfolio Company Fair Value at December 31, 2022 Gross Additions (1) Gross Reductions (2) Net Realized Gain (Loss) Net Change in Unrealized Appreciation (Depreciation) Fair Value at June 30, 2023 Interest Income (3) PIK Income (3) Senior Secured Loans—First Lien Permian Production Holdings, LLC $ 4,767 $ 113 $ — $ — $ (65) $ 4,815 $ 324 $ 48 Equity/Other GWP Midstream Holdco, LLC, Common Equity 5,044 — — — (3,659) 1,385 — — Harvest Oil & Gas Corp., Common Equity 810 — (641) — 641 810 — — Limetree Bay Energy, LLC, Class A Units 1,885 83 — (21,541) 19,573 — — — Permian Production Holdings, LLC, Common Equity 11,420 — — — (5,710) 5,710 — — Ridgeback Resources Inc., Common Equity 41,851 — (35,240) (11,359) 4,748 — — — Telpico, LLC, Common Equity — — — — — — — — $ 65,777 $ 196 $ (35,881) $ (32,900) $ 15,528 $ 12,720 $ 324 $ 48 _____________ (1) Gross additions may include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, the amortization of unearned income, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company into this category from a different category. (2) Gross reductions may include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company out of this category into a different category. (3) Interest and PIK income presented for the six months ended June 30, 2023. Under the 1940 Act, the Company generally is deemed to be an “affiliated person” of a portfolio company if it owns 5% or more of the portfolio company’s voting securities and generally is deemed to “control” a portfolio company if it owns more than 25% of the portfolio company’s voting securities or it has the power to exercise control over the management or policies of such portfolio company. As of December 31, 2022 , the Company held investments in portfolio companies of which it is deemed to be an “affiliated person” but is not deemed to “control”. The following table presents certain information with respect to investments in portfolio companies of which the Company was deemed to be an affiliated person as of December 31, 2022 : Portfolio Company Fair Value at December 31, 2021 Gross Additions (1) Gross Reductions (2) Net Realized Gain (Loss) Net Change in Unrealized Appreciation (Depreciation) Fair Value at December 31, 2022 Interest Income (3) PIK Income (3) Fee Income (3) Dividend Income (3) Senior Secured Loans—First Lien Limetree Bay Energy, LLC $ 3,166 $ — $ (1,587) $ (12,756) $ 11,177 $ — $ — $ — $ — $ — Permian Production Holdings, LLC 7,889 697 (3,674) 551 (696) 4,767 570 105 — — Senior Secured Bonds Great Western Petroleum, LLC 58,055 96 (55,096) 1,087 (4,142) — 2,649 — 7,268 — Equity/Other Great Western Petroleum, LLC, Common Equity 40,731 — (84,871) 54,081 (9,941) — — — — — GWP Midstream Holdco, LLC, Common Equity — 6,681 — — (1,637) 5,044 — — — — Harvest Oil & Gas Corp., Common Equity 2,836 — (743) — (1,283) 810 — — — — Limetree Bay Energy, LLC, Class A Units 6,046 1,795 — — (5,956) 1,885 — — — — Permian Production Holdings, LLC, Common Equity 8,829 4 — — 2,587 11,420 — — — 1,726 Ridgeback Resources Inc., Common Equity 48,356 — (12,559) 173 5,881 41,851 — — — 3,691 Telpico, LLC, Common Equity — — — — — — — — — — $ 175,908 $ 9,273 $ (158,530) $ 43,136 $ (4,010) $ 65,777 $ 3,219 $ 105 $ 7,268 $ 5,417 _____________ (1) Gross additions may include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, the amortization of unearned income, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company into this category from a different category. (2) Gross reductions may include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company out of this category into a different category. (3) Interest, PIK, fee and dividend income presented for the year ended December 31, 2022. Investment denominated in Canadian dollars. Amortized cost and fair value are converted into U.S. dollars as of December 31, 2022 Investment denominated in British pounds. Amortized cost and fair value are converted into U.S. dollars as of December 31, 2022 . |
Unaudited Consolidated Schedu_2
Unaudited Consolidated Schedule of Investments (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |||||
Derivative [Line Items] | |||||||||
Qualifying assets, percent of total assets | 73.70% | 73.70% | 77.50% | ||||||
Unfunded commitment with amortized cost | $ 2,500 | $ 2,500 | $ 2,500 | ||||||
Investment company, financial commitment fair value | 2,500 | 2,500 | 2,500 | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2] | 2,047,115 | |||||||
Net realized gain (loss) on investments: | (62,695) | $ 31,460 | |||||||
Net change in unrealized appreciation (depreciation) on investments: | (34,911) | 151,202 | |||||||
Fair Value, ending balance | 1,495,602 | [3],[4] | 1,495,602 | [3],[4] | 2,047,115 | [1],[2] | |||
Paid-in-kind interest income | 11,831 | 12,469 | |||||||
Non-Controlled/Affiliated | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | 65,777 | 175,908 | 175,908 | ||||||
Gross Additions | 196 | [5] | 9,273 | [6] | |||||
Gross Reductions | (35,881) | [7] | (158,530) | [8] | |||||
Net realized gain (loss) on investments: | (21,541) | $ 53,584 | (32,900) | 41,204 | 43,136 | ||||
Net change in unrealized appreciation (depreciation) on investments: | 18,089 | (53,922) | 15,528 | 2,129 | (4,010) | ||||
Fair Value, ending balance | 12,720 | 12,720 | 65,777 | ||||||
Interest Income | 324 | [9] | 3,219 | [10] | |||||
Paid-in-kind interest income | 24 | 22 | 48 | [9] | 57 | 105 | [10] | ||
Fee income | 0 | 7,268 | 0 | 7,268 | 7,268 | [10] | |||
Dividend income | 0 | 3,691 | 0 | 5,417 | 5,417 | ||||
Controlled/affiliated | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | 194,451 | 181,359 | 181,359 | ||||||
Gross Additions | 6,621 | [11] | 7,154 | [12] | |||||
Gross Reductions | (996) | [13] | (41,601) | [14] | |||||
Net realized gain (loss) on investments: | 0 | 10,858 | 0 | 10,858 | 15,899 | ||||
Net change in unrealized appreciation (depreciation) on investments: | (7,502) | (10,941) | (10,895) | 12,786 | 31,640 | ||||
Fair Value, ending balance | 189,181 | 189,181 | 194,451 | ||||||
Interest Income | 5,078 | [15] | 2,936 | [16] | |||||
Paid-in-kind interest income | 60 | 221 | 232 | [15] | 891 | 7,154 | [16] | ||
Dividend income | $ 0 | $ 0 | $ 0 | 735 | $ 735 | [16] | |||
London Interbank Offered Rate (LIBOR) | |||||||||
Derivative [Line Items] | |||||||||
Investment, variable rate | 5.55% | 5.55% | 4.77% | ||||||
Secured Overnight Financing Rate | |||||||||
Derivative [Line Items] | |||||||||
Investment, variable rate | 5.27% | 5.27% | 4.59% | ||||||
Investment, Identifier [Axis]: AIRRO (Mauritius) Holdings II, Energy—Power 1 | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[18],[19] | $ 23,243 | $ 23,243 | ||||||
Investment, Identifier [Axis]: AIRRO (Mauritius) Holdings II, Energy—Power 2 | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[18],[19],[20] | 5,399 | 5,399 | ||||||
Investment, Identifier [Axis]: AIRRO (Mauritius) Holdings II, Power 1 | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[22],[23] | 23,519 | |||||||
Fair Value, ending balance | [1],[2],[21],[22],[23] | $ 23,519 | |||||||
Investment, Identifier [Axis]: AIRRO (Mauritius) Holdings II, Power 2 | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[22],[23],[24] | 5,545 | |||||||
Fair Value, ending balance | [1],[2],[21],[22],[23],[24] | 5,545 | |||||||
Investment, Identifier [Axis]: AIRRO (Mauritius) Holdings II, Warrants, Strike: $1.00, Energy—Power | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[18],[19],[25] | 2,223 | 2,223 | ||||||
Investment, Identifier [Axis]: AIRRO (Mauritius) Holdings II, Warrants, Strike: $1.00, Power | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[22],[23],[26],[27] | 1,630 | |||||||
Fair Value, ending balance | [1],[2],[21],[22],[23],[26],[27] | 1,630 | |||||||
Investment, Identifier [Axis]: Abaco Energy Technologies LLC, Common Equity, Energy—Service & Equipment | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[25] | 1,243 | 1,243 | ||||||
Investment, Identifier [Axis]: Abaco Energy Technologies LLC, Common Equity, Service & Equipment | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[26],[27] | 1,219 | |||||||
Fair Value, ending balance | [1],[2],[21],[26],[27] | 1,219 | |||||||
Investment, Identifier [Axis]: Abaco Energy Technologies LLC, Preferred Equity, Energy—Service & Equipment | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[25] | 8,827 | 8,827 | ||||||
Investment, Identifier [Axis]: Abaco Energy Technologies LLC, Preferred Equity, Service & Equipment | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[26],[27] | 8,321 | |||||||
Fair Value, ending balance | [1],[2],[21],[26],[27] | 8,321 | |||||||
Investment, Identifier [Axis]: Acrisure, LLC, Insurance | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4] | 10,062 | 10,062 | ||||||
Investment, Identifier [Axis]: Aethon III BR LLC, Energy—Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17] | 20,081 | 20,081 | ||||||
Investment, Identifier [Axis]: Aethon III BR LLC, Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[27] | 20,138 | |||||||
Fair Value, ending balance | [1],[2],[21],[27] | 20,138 | |||||||
Investment, Identifier [Axis]: Aethon United BR LP, Energy—Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4] | 39,828 | 39,828 | ||||||
Investment, Identifier [Axis]: Aethon United BR LP, Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[27] | 40,221 | |||||||
Fair Value, ending balance | [1],[2],[27] | 40,221 | |||||||
Investment, Identifier [Axis]: AirSwift Holdings, Ltd., Common Equity, Commercial & Professional Services | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[19],[25] | 3,038 | 3,038 | ||||||
Investment, Identifier [Axis]: Allied Downhole Technologies, LLC | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [29] | 8,436 | [28] | 7,782 | 7,782 | ||||
Gross Additions | 113 | [11],[28] | 654 | [12],[29] | |||||
Gross Reductions | (996) | [13],[28] | 0 | [14],[29] | |||||
Net realized gain (loss) on investments: | 0 | [28] | 0 | [29] | |||||
Net change in unrealized appreciation (depreciation) on investments: | 0 | [28] | 0 | [29] | |||||
Fair Value, ending balance | [28] | 7,553 | 7,553 | 8,436 | [29] | ||||
Interest Income | 207 | [15],[28] | 0 | [16],[29] | |||||
Paid-in-kind interest income | 113 | [15],[28] | 654 | [16],[29] | |||||
Dividend income | [16],[29] | 0 | |||||||
Investment, Identifier [Axis]: Allied Downhole Technologies, LLC, Energy—Service & Equipment 1 | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[30] | 7,553 | 7,553 | ||||||
Investment, Identifier [Axis]: Allied Downhole Technologies, LLC, Energy—Service & Equipment 2 | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[20],[30] | 2,500 | 2,500 | ||||||
Investment, Identifier [Axis]: Allied Downhole Technologies, LLC, Service & Equipment 1 | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[27],[31] | 8,436 | |||||||
Fair Value, ending balance | [1],[2],[21],[27],[31] | 8,436 | |||||||
Investment, Identifier [Axis]: Allied Downhole Technologies, LLC, Service & Equipment 2 | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[24],[31] | 2,500 | |||||||
Fair Value, ending balance | [1],[2],[21],[24],[31] | 2,500 | |||||||
Investment, Identifier [Axis]: Allied Universal Holdco, LLC, Consumer Services | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4] | 7,771 | 7,771 | ||||||
Investment, Identifier [Axis]: Allied Wireline Services, LLC | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | 63,888 | 46,339 | 46,339 | ||||||
Gross Additions | 6,389 | [11] | 5,808 | [12] | |||||
Gross Reductions | 0 | [13] | 0 | [14] | |||||
Net realized gain (loss) on investments: | 0 | 0 | |||||||
Net change in unrealized appreciation (depreciation) on investments: | 0 | 11,741 | |||||||
Fair Value, ending balance | 70,277 | 70,277 | 63,888 | ||||||
Interest Income | 3,223 | [15] | 316 | [16] | |||||
Paid-in-kind interest income | 0 | [15] | 5,808 | [16] | |||||
Dividend income | [16] | 0 | |||||||
Investment, Identifier [Axis]: Allied Wireline Services, LLC, Common Equity | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | 10,463 | 0 | 0 | ||||||
Gross Additions | 0 | [11] | 0 | [12] | |||||
Gross Reductions | 0 | [13] | 0 | [14] | |||||
Net realized gain (loss) on investments: | 0 | 0 | |||||||
Net change in unrealized appreciation (depreciation) on investments: | (2,395) | 10,463 | |||||||
Fair Value, ending balance | 8,068 | 8,068 | 10,463 | ||||||
Interest Income | 0 | [15] | 0 | [16] | |||||
Paid-in-kind interest income | 0 | [15] | 0 | [16] | |||||
Dividend income | [16] | 0 | |||||||
Investment, Identifier [Axis]: Allied Wireline Services, LLC, Common Equity, Energy—Service & Equipment | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[25],[30],[32] | 8,068 | 8,068 | ||||||
Investment, Identifier [Axis]: Allied Wireline Services, LLC, Common Equity, Service & Equipment | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[26],[27],[31],[33] | 10,463 | |||||||
Fair Value, ending balance | [1],[2],[21],[26],[27],[31],[33] | 10,463 | |||||||
Investment, Identifier [Axis]: Allied Wireline Services, LLC, Energy—Service & Equipment | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[30] | 70,277 | 70,277 | ||||||
Investment, Identifier [Axis]: Allied Wireline Services, LLC, Service & Equipment | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[27],[31] | 63,888 | |||||||
Fair Value, ending balance | [1],[2],[21],[27],[31] | 63,888 | |||||||
Investment, Identifier [Axis]: Allied Wireline Services, LLC, Warrants | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | 0 | 0 | 0 | ||||||
Gross Additions | 0 | [11] | 0 | [12] | |||||
Gross Reductions | 0 | [13] | 0 | [14] | |||||
Net realized gain (loss) on investments: | 0 | 0 | |||||||
Net change in unrealized appreciation (depreciation) on investments: | 0 | 0 | |||||||
Fair Value, ending balance | 0 | 0 | 0 | ||||||
Interest Income | 0 | [15] | 0 | [16] | |||||
Paid-in-kind interest income | 0 | [15] | 0 | [16] | |||||
Dividend income | [16] | 0 | |||||||
Investment, Identifier [Axis]: Allied Wireline Services, LLC, Warrants, Energy—Service & Equipment | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[25],[30],[32] | 0 | 0 | ||||||
Investment, Identifier [Axis]: Allied Wireline Services, LLC, Warrants, Service & Equipment | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[26],[27],[31],[33] | 0 | |||||||
Fair Value, ending balance | [1],[2],[21],[26],[27],[31],[33] | 0 | |||||||
Investment, Identifier [Axis]: Archrock Partners, L.P., Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[23],[27] | 2,840 | |||||||
Fair Value, ending balance | [1],[2],[23],[27] | 2,840 | |||||||
Investment, Identifier [Axis]: Arena Energy, LP, Contingent Value Rights, Energy—Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17] | 488 | 488 | ||||||
Investment, Identifier [Axis]: Arena Energy, LP, Contingent Value Rights, Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[26],[27] | 858 | |||||||
Fair Value, ending balance | [1],[2],[21],[26],[27] | 858 | |||||||
Investment, Identifier [Axis]: Ascent Resources Utica Holdings, LLC, Common Equity, Energy—Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[25],[32] | 31,895 | 31,895 | ||||||
Investment, Identifier [Axis]: Ascent Resources Utica Holdings, LLC, Common Equity, Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[26],[27],[33] | 52,340 | |||||||
Fair Value, ending balance | [1],[2],[21],[26],[27],[33] | 52,340 | |||||||
Investment, Identifier [Axis]: Aveanna Healthcare LLC, Health Care Equipment & Services | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4] | 8,562 | 8,562 | ||||||
Investment, Identifier [Axis]: Brazos Delaware II LLC, Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2] | 39,137 | |||||||
Fair Value, ending balance | [1],[2] | 39,137 | |||||||
Investment, Identifier [Axis]: CPV Maryland, LLC, Power | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2] | 14,155 | |||||||
Fair Value, ending balance | [1],[2] | 14,155 | |||||||
Investment, Identifier [Axis]: CPV Shore Holdings LLC, Energy—Power | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4] | 21,765 | 21,765 | ||||||
Investment, Identifier [Axis]: CPV Shore Holdings LLC, Power | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2] | 21,935 | |||||||
Fair Value, ending balance | [1],[2] | 21,935 | |||||||
Investment, Identifier [Axis]: Cimarron Energy Holdco Inc., Common Equity, Service & Equipment | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[26],[27] | 0 | |||||||
Fair Value, ending balance | [1],[2],[21],[26],[27] | 0 | |||||||
Investment, Identifier [Axis]: Cimarron Energy Holdco Inc., Participation Option, Service & Equipment | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[26],[27] | 0 | |||||||
Fair Value, ending balance | [1],[2],[21],[26],[27] | 0 | |||||||
Investment, Identifier [Axis]: Cimarron Energy Inc., Service & Equipment | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[26],[27],[34] | 3,713 | |||||||
Fair Value, ending balance | [1],[2],[21],[26],[27],[34] | 3,713 | |||||||
Investment, Identifier [Axis]: Citizen Energy Operating, LLC, Energy—Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17] | 36,360 | 36,360 | ||||||
Investment, Identifier [Axis]: Citizen Energy Operating, LLC, Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[27] | 38,240 | |||||||
Fair Value, ending balance | [1],[2],[21],[27] | 38,240 | |||||||
Investment, Identifier [Axis]: Compass Power Generation LLC, Power | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2] | 31,384 | |||||||
Fair Value, ending balance | [1],[2] | 31,384 | |||||||
Investment, Identifier [Axis]: Cox Oil Offshore, LLC, Volumetric Production Payments, Energy—Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[35],[36] | 8,507 | 8,507 | ||||||
Investment, Identifier [Axis]: Cox Oil Offshore, LLC, Volumetric Production Payments, Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[37],[38] | 20,683 | |||||||
Fair Value, ending balance | [1],[2],[21],[37],[38] | 20,683 | |||||||
Investment, Identifier [Axis]: EIF Van Hook Holdings, LLC, Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2] | 26,075 | |||||||
Fair Value, ending balance | [1],[2] | 26,075 | |||||||
Investment, Identifier [Axis]: ERA II Minerals, LLC, Energy—Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17] | 34,636 | 34,636 | ||||||
Investment, Identifier [Axis]: ERA II Minerals, LLC, Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[27] | 36,656 | |||||||
Fair Value, ending balance | [1],[2],[21],[27] | 36,656 | |||||||
Investment, Identifier [Axis]: Earthstone Energy Holdings, LLC, Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[23] | 10,920 | |||||||
Fair Value, ending balance | [1],[2],[23] | 10,920 | |||||||
Investment, Identifier [Axis]: Endeavor Energy Resources, L.P., Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[27] | 23,306 | |||||||
Fair Value, ending balance | [1],[2],[27] | 23,306 | |||||||
Investment, Identifier [Axis]: FR BR Holdings LLC, Energy—Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17] | 81,008 | 81,008 | ||||||
Investment, Identifier [Axis]: FR BR Holdings LLC, Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[27] | 81,361 | |||||||
Fair Value, ending balance | [1],[2],[21],[27] | 81,361 | |||||||
Investment, Identifier [Axis]: FR XIII PAA Holdings HoldCo, LLC, Energy—Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17] | 17,233 | 17,233 | ||||||
Investment, Identifier [Axis]: FR XIII PAA Holdings HoldCo, LLC, Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21] | 17,406 | |||||||
Fair Value, ending balance | [1],[2],[21] | 17,406 | |||||||
Investment, Identifier [Axis]: First Brands Group, LLC, Automobiles & Components | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4] | 6,853 | 6,853 | ||||||
Investment, Identifier [Axis]: GIP II Blue Holding LP, Energy—Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4] | 4,785 | 4,785 | ||||||
Investment, Identifier [Axis]: GIP II Blue Holding LP, Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2] | 5,877 | |||||||
Fair Value, ending balance | [1],[2] | 5,877 | |||||||
Investment, Identifier [Axis]: GWP Midstream Holdco, LLC, Common Equity | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | 5,044 | 0 | 0 | ||||||
Gross Additions | 0 | [5] | 6,681 | [6] | |||||
Gross Reductions | 0 | [7] | 0 | [8] | |||||
Net realized gain (loss) on investments: | 0 | 0 | |||||||
Net change in unrealized appreciation (depreciation) on investments: | (3,659) | (1,637) | |||||||
Fair Value, ending balance | 1,385 | 1,385 | 5,044 | ||||||
Interest Income | 0 | [9] | 0 | [10] | |||||
Paid-in-kind interest income | 0 | [9] | 0 | [10] | |||||
Fee income | [10] | 0 | |||||||
Dividend income | 0 | ||||||||
Investment, Identifier [Axis]: GWP Midstream Holdco, LLC, Common Equity, Energy—Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[25],[32],[39] | 1,385 | 1,385 | ||||||
Investment, Identifier [Axis]: GWP Midstream Holdco, LLC, Common Equity, Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[26],[27],[33],[40] | 5,044 | |||||||
Fair Value, ending balance | [1],[2],[21],[26],[27],[33],[40] | 5,044 | |||||||
Investment, Identifier [Axis]: GasLog Ltd., Energy—Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[19] | 14,012 | 14,012 | ||||||
Investment, Identifier [Axis]: GasLog Ltd., Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[23] | 14,010 | |||||||
Fair Value, ending balance | [1],[2],[21],[23] | 14,010 | |||||||
Investment, Identifier [Axis]: Generation Bridge LLC, Power 1 | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2] | 7,385 | |||||||
Fair Value, ending balance | [1],[2] | 7,385 | |||||||
Investment, Identifier [Axis]: Generation Bridge LLC, Power 2 | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2] | 162 | |||||||
Fair Value, ending balance | [1],[2] | 162 | |||||||
Investment, Identifier [Axis]: Global Jet Capital Holdings, LP, Preferred Equity, Commercial & Professional Services 1 | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[25] | 0 | 0 | ||||||
Investment, Identifier [Axis]: Global Jet Capital Holdings, LP, Preferred Equity, Commercial & Professional Services 2 | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[25],[41] | 9,978 | 9,978 | ||||||
Investment, Identifier [Axis]: Global Jet Capital Holdings, LP, Preferred Equity, Industrials 1 | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[26],[27] | 0 | |||||||
Fair Value, ending balance | [1],[2],[21],[26],[27] | 0 | |||||||
Investment, Identifier [Axis]: Global Jet Capital Holdings, LP, Preferred Equity, Industrials 2 | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[26],[27],[34] | 9,377 | |||||||
Fair Value, ending balance | [1],[2],[21],[26],[27],[34] | 9,377 | |||||||
Investment, Identifier [Axis]: Goodnight Water Solutions, LLC, Energy—Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17] | 14,586 | 14,586 | ||||||
Investment, Identifier [Axis]: Goodnight Water Solutions, LLC, Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21] | 14,819 | |||||||
Fair Value, ending balance | [1],[2],[21] | 14,819 | |||||||
Investment, Identifier [Axis]: Great Western Petroleum, LLC | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | 0 | 58,055 | 58,055 | ||||||
Gross Additions | [6] | 96 | |||||||
Gross Reductions | [8] | (55,096) | |||||||
Net realized gain (loss) on investments: | 1,087 | ||||||||
Net change in unrealized appreciation (depreciation) on investments: | (4,142) | ||||||||
Fair Value, ending balance | 0 | ||||||||
Interest Income | [10] | 2,649 | |||||||
Paid-in-kind interest income | [10] | 0 | |||||||
Fee income | [10] | 7,268 | |||||||
Dividend income | 0 | ||||||||
Investment, Identifier [Axis]: Great Western Petroleum, LLC, Common Equity | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | 0 | 40,731 | 40,731 | ||||||
Gross Additions | [6] | 0 | |||||||
Gross Reductions | [8] | (84,871) | |||||||
Net realized gain (loss) on investments: | 54,081 | ||||||||
Net change in unrealized appreciation (depreciation) on investments: | (9,941) | ||||||||
Fair Value, ending balance | 0 | ||||||||
Interest Income | [10] | 0 | |||||||
Paid-in-kind interest income | [10] | 0 | |||||||
Fee income | [10] | 0 | |||||||
Dividend income | 0 | ||||||||
Investment, Identifier [Axis]: Guitar Center, Inc., Consumer Discretionary Distribution & Retail | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4] | 9,109 | 9,109 | ||||||
Investment, Identifier [Axis]: Hamilton Intermediate Holdings, LLC, Power | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21] | 31,007 | |||||||
Fair Value, ending balance | [1],[2],[21] | 31,007 | |||||||
Investment, Identifier [Axis]: Hammerhead Resources Inc., Energy—Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[19] | 37,225 | 37,225 | ||||||
Investment, Identifier [Axis]: Hammerhead Resources Inc., Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[23],[27] | 35,118 | |||||||
Fair Value, ending balance | [1],[2],[21],[23],[27] | 35,118 | |||||||
Investment, Identifier [Axis]: Harvest Oil & Gas Corp., Common Equity | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | 810 | 2,836 | 2,836 | ||||||
Gross Additions | 0 | [5] | 0 | [6] | |||||
Gross Reductions | (641) | [7] | (743) | [8] | |||||
Net realized gain (loss) on investments: | 0 | 0 | |||||||
Net change in unrealized appreciation (depreciation) on investments: | 641 | (1,283) | |||||||
Fair Value, ending balance | 810 | 810 | 810 | ||||||
Interest Income | 0 | [9] | 0 | [10] | |||||
Paid-in-kind interest income | 0 | [9] | 0 | [10] | |||||
Fee income | [10] | 0 | |||||||
Dividend income | 0 | ||||||||
Investment, Identifier [Axis]: Harvest Oil & Gas Corp., Common Equity, Energy—Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[25],[39] | 810 | 810 | ||||||
Investment, Identifier [Axis]: Harvest Oil & Gas Corp., Common Equity, Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[26],[27],[40] | 810 | |||||||
Fair Value, ending balance | [1],[2],[26],[27],[40] | 810 | |||||||
Investment, Identifier [Axis]: Limetree Bay Energy, LLC | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | 0 | 3,166 | 3,166 | ||||||
Gross Additions | [6] | 0 | |||||||
Gross Reductions | [8] | (1,587) | |||||||
Net realized gain (loss) on investments: | (12,756) | ||||||||
Net change in unrealized appreciation (depreciation) on investments: | 11,177 | ||||||||
Fair Value, ending balance | 0 | ||||||||
Interest Income | [10] | 0 | |||||||
Paid-in-kind interest income | [10] | 0 | |||||||
Fee income | [10] | 0 | |||||||
Dividend income | 0 | ||||||||
Investment, Identifier [Axis]: Limetree Bay Energy, LLC, Class A Units | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | 1,885 | 6,046 | 6,046 | ||||||
Gross Additions | 83 | [5] | 1,795 | [6] | |||||
Gross Reductions | 0 | [7] | 0 | [8] | |||||
Net realized gain (loss) on investments: | (21,541) | 0 | |||||||
Net change in unrealized appreciation (depreciation) on investments: | 19,573 | (5,956) | |||||||
Fair Value, ending balance | 0 | 0 | 1,885 | ||||||
Interest Income | 0 | [9] | 0 | [10] | |||||
Paid-in-kind interest income | 0 | [9] | 0 | [10] | |||||
Fee income | [10] | 0 | |||||||
Dividend income | 0 | ||||||||
Investment, Identifier [Axis]: Limetree Bay Energy, LLC, Class A Units, Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[26],[27],[40] | 1,885 | |||||||
Fair Value, ending balance | [1],[2],[21],[26],[27],[40] | 1,885 | |||||||
Investment, Identifier [Axis]: MB Precision Investment Holdings LLC, Class A-2 Units, Industrials | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[26],[27],[33] | 0 | |||||||
Fair Value, ending balance | [1],[2],[21],[26],[27],[33] | 0 | |||||||
Investment, Identifier [Axis]: MECO IV Holdco, LLC | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | 0 | 22,745 | 22,745 | ||||||
Gross Additions | [12] | 455 | |||||||
Gross Reductions | [14] | (23,200) | |||||||
Net realized gain (loss) on investments: | 0 | ||||||||
Net change in unrealized appreciation (depreciation) on investments: | 0 | ||||||||
Fair Value, ending balance | 0 | ||||||||
Interest Income | [16] | 0 | |||||||
Paid-in-kind interest income | [16] | 455 | |||||||
Dividend income | [16] | 0 | |||||||
Investment, Identifier [Axis]: MECO IV Holdco, LLC, Class A-1 Units | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | 0 | 4,181 | 4,181 | ||||||
Gross Additions | [12] | 0 | |||||||
Gross Reductions | [14] | (18,060) | |||||||
Net realized gain (loss) on investments: | 15,899 | ||||||||
Net change in unrealized appreciation (depreciation) on investments: | (2,020) | ||||||||
Fair Value, ending balance | 0 | ||||||||
Interest Income | [16] | 0 | |||||||
Paid-in-kind interest income | [16] | 0 | |||||||
Dividend income | [16] | 0 | |||||||
Investment, Identifier [Axis]: Maverick Natural Resources, LLC, Common Equity, Energy—Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[32] | 266,487 | 266,487 | ||||||
Investment, Identifier [Axis]: Maverick Natural Resources, LLC, Common Equity, Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[27],[33] | 312,372 | |||||||
Fair Value, ending balance | [1],[2],[21],[27],[33] | 312,372 | |||||||
Investment, Identifier [Axis]: Mavis Tire Express Services TopCo, LP, Consumer Discretionary Distribution & Retail | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4] | 6,932 | 6,932 | ||||||
Investment, Identifier [Axis]: Medallion Midland Acquisition LP, Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2] | 7,862 | |||||||
Fair Value, ending balance | [1],[2] | 7,862 | |||||||
Investment, Identifier [Axis]: Meritage Midstream Services II, LLC, Energy—Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17] | 21,440 | 21,440 | ||||||
Investment, Identifier [Axis]: Moss Creek Resources, LLC, Energy—Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4] | 10,750 | 10,750 | ||||||
Investment, Identifier [Axis]: Moss Creek Resources, LLC, Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[27] | 10,561 | |||||||
Fair Value, ending balance | [1],[2],[27] | 10,561 | |||||||
Investment, Identifier [Axis]: NGL Energy Partners, LP, Preferred Equity, Energy—Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[19],[25],[41] | 138,531 | 138,531 | ||||||
Investment, Identifier [Axis]: NGL Energy Partners, LP, Preferred Equity, Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[23],[26],[27],[34] | 125,000 | |||||||
Fair Value, ending balance | [1],[2],[21],[23],[26],[27],[34] | 125,000 | |||||||
Investment, Identifier [Axis]: NGL Energy Partners, LP, Warrants (Par), Strike: $13.56, Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[23],[26],[27] | 3 | |||||||
Fair Value, ending balance | [1],[2],[21],[23],[26],[27] | 3 | |||||||
Investment, Identifier [Axis]: NGL Energy Partners, LP, Warrants (Par), Strike: $14.54, Energy—Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[19],[25] | 809 | 809 | ||||||
Investment, Identifier [Axis]: NGL Energy Partners, LP, Warrants (Par), Strike: $14.54, Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[23],[26],[27] | 10 | |||||||
Fair Value, ending balance | [1],[2],[21],[23],[26],[27] | 10 | |||||||
Investment, Identifier [Axis]: NGL Energy Partners, LP, Warrants (Par), Strike:$13.56, Energy—Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[19],[25] | 202 | 202 | ||||||
Investment, Identifier [Axis]: NGL Energy Partners, LP, Warrants (Premium), Strike: $16.27, Energy—Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[19],[25] | 213 | 213 | ||||||
Investment, Identifier [Axis]: NGL Energy Partners, LP, Warrants (Premium), Strike: $16.27, Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[23],[26],[27] | 2 | |||||||
Fair Value, ending balance | [1],[2],[21],[23],[26],[27] | 2 | |||||||
Investment, Identifier [Axis]: NGL Energy Partners, LP, Warrants (Premium), Strike: $17.45, Energy—Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[19],[25] | 886 | 886 | ||||||
Investment, Identifier [Axis]: NGL Energy Partners, LP, Warrants (Premium), Strike: $17.45, Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[23],[26],[27] | 8 | |||||||
Fair Value, ending balance | [1],[2],[21],[23],[26],[27] | 8 | |||||||
Investment, Identifier [Axis]: NRG Energy, Inc., Power | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[23] | 14,401 | |||||||
Fair Value, ending balance | [1],[2],[23] | 14,401 | |||||||
Investment, Identifier [Axis]: Navios Logistics Finance, Inc., Transportation | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[19] | 4,830 | 4,830 | ||||||
Investment, Identifier [Axis]: NuStar, Preferred Equity, Energy—Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[19] | 55,433 | 55,433 | ||||||
Investment, Identifier [Axis]: NuStar, Preferred Equity, Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[23],[27] | 83,590 | |||||||
Fair Value, ending balance | [1],[2],[21],[23],[27] | 83,590 | |||||||
Investment, Identifier [Axis]: OE2 North, LLC, Midstream 1 | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21] | 18,847 | |||||||
Fair Value, ending balance | [1],[2],[21] | 18,847 | |||||||
Investment, Identifier [Axis]: OE2 North, LLC, Midstream 2 | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[24] | 11,455 | |||||||
Fair Value, ending balance | [1],[2],[21],[24] | 11,455 | |||||||
Investment, Identifier [Axis]: Oryx Midstream Services Permian Basin LLC, Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[27] | 32,026 | |||||||
Fair Value, ending balance | [1],[2],[27] | 32,026 | |||||||
Investment, Identifier [Axis]: Parkway Generation LLC, Energy—Power 1 | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4] | 5,631 | 5,631 | ||||||
Investment, Identifier [Axis]: Parkway Generation LLC, Energy—Power 2 | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4] | 42,710 | 42,710 | ||||||
Investment, Identifier [Axis]: Parkway Generation LLC, Power 1 | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2] | 5,700 | |||||||
Fair Value, ending balance | [1],[2] | 5,700 | |||||||
Investment, Identifier [Axis]: Parkway Generation LLC, Power 2 | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2] | 43,285 | |||||||
Fair Value, ending balance | [1],[2] | 43,285 | |||||||
Investment, Identifier [Axis]: Peak Exploration & Production, LLC, Upstream 1 | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[27] | 13,394 | |||||||
Fair Value, ending balance | [1],[2],[21],[27] | 13,394 | |||||||
Investment, Identifier [Axis]: Peak Exploration & Production, LLC, Upstream 2 | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[24] | 1,488 | |||||||
Fair Value, ending balance | [1],[2],[21],[24] | 1,488 | |||||||
Investment, Identifier [Axis]: Permian Production Holdings, LLC | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | 4,767 | 7,889 | 7,889 | ||||||
Gross Additions | 113 | [5] | 697 | [6] | |||||
Gross Reductions | 0 | [7] | (3,674) | [8] | |||||
Net realized gain (loss) on investments: | 0 | 551 | |||||||
Net change in unrealized appreciation (depreciation) on investments: | (65) | (696) | |||||||
Fair Value, ending balance | 4,815 | 4,815 | 4,767 | ||||||
Interest Income | 324 | [9] | 570 | [10] | |||||
Paid-in-kind interest income | 48 | [9] | 105 | [10] | |||||
Fee income | [10] | 0 | |||||||
Dividend income | 0 | ||||||||
Investment, Identifier [Axis]: Permian Production Holdings, LLC, Common Equity | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | 11,420 | 8,829 | 8,829 | ||||||
Gross Additions | 0 | [5] | 4 | [6] | |||||
Gross Reductions | 0 | [7] | 0 | [8] | |||||
Net realized gain (loss) on investments: | 0 | 0 | |||||||
Net change in unrealized appreciation (depreciation) on investments: | (5,710) | 2,587 | |||||||
Fair Value, ending balance | 5,710 | 5,710 | 11,420 | ||||||
Interest Income | 0 | [9] | 0 | [10] | |||||
Paid-in-kind interest income | 0 | [9] | 0 | [10] | |||||
Fee income | [10] | 0 | |||||||
Dividend income | 1,726 | ||||||||
Investment, Identifier [Axis]: Permian Production Holdings, LLC, Common Equity, Energy—Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[25],[32],[39] | 5,710 | 5,710 | ||||||
Investment, Identifier [Axis]: Permian Production Holdings, LLC, Common Equity, Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[27],[33],[40] | 11,420 | |||||||
Fair Value, ending balance | [1],[2],[21],[27],[33],[40] | 11,420 | |||||||
Investment, Identifier [Axis]: Permian Production Holdings, LLC, Energy—Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[39] | 4,815 | 4,815 | ||||||
Investment, Identifier [Axis]: Permian Production Holdings, LLC, Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[27],[40] | 4,767 | |||||||
Fair Value, ending balance | [1],[2],[21],[27],[40] | 4,767 | |||||||
Investment, Identifier [Axis]: Permian Resources Operating LLC, Upstream 1 | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2] | 25,703 | |||||||
Fair Value, ending balance | [1],[2] | 25,703 | |||||||
Investment, Identifier [Axis]: Permian Resources Operating LLC, Upstream 2 | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[27] | 4,473 | |||||||
Fair Value, ending balance | [1],[2],[27] | 4,473 | |||||||
Investment, Identifier [Axis]: Pinnacle Midland Gas Holdco LLC, Energy—Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17] | 9,294 | 9,294 | ||||||
Investment, Identifier [Axis]: Pinnacle Midland Gas Holdco LLC, Midstream 1 | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21] | 9,310 | |||||||
Fair Value, ending balance | [1],[2],[21] | 9,310 | |||||||
Investment, Identifier [Axis]: Pinnacle Midland Gas Holdco LLC, Midstream 2 | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[24] | 2,461 | |||||||
Fair Value, ending balance | [1],[2],[21],[24] | 2,461 | |||||||
Investment, Identifier [Axis]: Plainfield Renewable Energy Holdings LLC, Energy—Power 1 | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[25],[41] | 9,565 | 9,565 | ||||||
Investment, Identifier [Axis]: Plainfield Renewable Energy Holdings LLC, Energy—Power 2 | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[25],[41] | 0 | 0 | ||||||
Investment, Identifier [Axis]: Plainfield Renewable Energy Holdings LLC, Letter of Credit, Energy—Power | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[20] | 0 | 0 | ||||||
Investment, Identifier [Axis]: Plainfield Renewable Energy Holdings LLC, Letter of Credit, Power | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[24] | 0 | |||||||
Fair Value, ending balance | [1],[2],[21],[24] | 0 | |||||||
Investment, Identifier [Axis]: Plainfield Renewable Energy Holdings LLC, Power 1 | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[27] | 9,997 | |||||||
Fair Value, ending balance | [1],[2],[21],[27] | 9,997 | |||||||
Investment, Identifier [Axis]: Plainfield Renewable Energy Holdings LLC, Power 2 | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[27] | 0 | |||||||
Fair Value, ending balance | [1],[2],[21],[27] | 0 | |||||||
Investment, Identifier [Axis]: Potomac Energy Center, LLC, Energy—Power | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17] | 53,753 | 53,753 | ||||||
Investment, Identifier [Axis]: Potomac Energy Center, LLC, Power | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21] | 58,443 | |||||||
Fair Value, ending balance | [1],[2],[21] | 58,443 | |||||||
Investment, Identifier [Axis]: Ranger Oil Corp., Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[23] | 29,678 | |||||||
Fair Value, ending balance | [1],[2],[23] | 29,678 | |||||||
Investment, Identifier [Axis]: Ridgeback Resources Inc., Common Equity | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | 41,851 | 48,356 | 48,356 | ||||||
Gross Additions | 0 | [5] | 0 | [6] | |||||
Gross Reductions | (35,240) | [7] | (12,559) | [8] | |||||
Net realized gain (loss) on investments: | (11,359) | 173 | |||||||
Net change in unrealized appreciation (depreciation) on investments: | 4,748 | 5,881 | |||||||
Fair Value, ending balance | 0 | 0 | 41,851 | ||||||
Interest Income | 0 | [9] | 0 | [10] | |||||
Paid-in-kind interest income | 0 | [9] | 0 | [10] | |||||
Fee income | [10] | 0 | |||||||
Dividend income | 3,691 | ||||||||
Investment, Identifier [Axis]: Ridgeback Resources Inc., Common Equity, Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[23],[27],[40],[42] | 41,851 | |||||||
Fair Value, ending balance | [1],[2],[21],[23],[27],[40],[42] | 41,851 | |||||||
Investment, Identifier [Axis]: ST EIP Holdings Inc., Energy—Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17] | 10,015 | 10,015 | ||||||
Investment, Identifier [Axis]: ST EIP Holdings Inc., Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21] | 10,074 | |||||||
Fair Value, ending balance | [1],[2],[21] | 10,074 | |||||||
Investment, Identifier [Axis]: Saturn Oil & Gas Inc., Common Equity, Energy—Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[19],[25],[43] | 2,674 | 2,674 | ||||||
Investment, Identifier [Axis]: Segreto Power Holdings, LLC, Preferred Equity, Power | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[26],[27],[33],[34] | 83,647 | |||||||
Fair Value, ending balance | [1],[2],[21],[26],[27],[33],[34] | 83,647 | |||||||
Investment, Identifier [Axis]: SilverBow Resources, Inc., Energy—Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[19] | 14,313 | 14,313 | ||||||
Investment, Identifier [Axis]: SilverBow Resources, Inc., Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[23],[27] | 14,322 | |||||||
Fair Value, ending balance | [1],[2],[21],[23],[27] | 14,322 | |||||||
Investment, Identifier [Axis]: Sitio Royalties Operating Partnership, LP, Energy—Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[19] | 18,289 | 18,289 | ||||||
Investment, Identifier [Axis]: Sitio Royalties Operating Partnership, LP, Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[23],[27] | 19,256 | |||||||
Fair Value, ending balance | [1],[2],[21],[23],[27] | 19,256 | |||||||
Investment, Identifier [Axis]: Suburban Propane Partners LP, Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[23],[27] | 6,461 | |||||||
Fair Value, ending balance | [1],[2],[23],[27] | 6,461 | |||||||
Investment, Identifier [Axis]: Sustainable Infrastructure Investments, LLC 2 | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | 51,098 | 50,770 | 50,770 | ||||||
Gross Additions | 0 | [11] | 0 | [12] | |||||
Gross Reductions | 0 | [13] | 0 | [14] | |||||
Net realized gain (loss) on investments: | 0 | 0 | |||||||
Net change in unrealized appreciation (depreciation) on investments: | (949) | 328 | |||||||
Fair Value, ending balance | 50,149 | 50,149 | 51,098 | ||||||
Interest Income | 0 | [15] | 0 | [16] | |||||
Paid-in-kind interest income | 0 | [15] | 0 | [16] | |||||
Dividend income | [16] | 735 | |||||||
Investment, Identifier [Axis]: Sustainable Infrastructure Investments, LLC, Energy—Power | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[19],[25],[30] | 50,149 | 50,149 | ||||||
Investment, Identifier [Axis]: Sustainable Infrastructure Investments, LLC, Power | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[31],[44] | 51,098 | |||||||
Fair Value, ending balance | [1],[2],[21],[31],[44] | 51,098 | |||||||
Investment, Identifier [Axis]: Swift Worldwide Resources Holdco Limited, Common Equity, Service & Equipment | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[23],[26],[27],[45] | 3,131 | |||||||
Fair Value, ending balance | [1],[2],[21],[23],[26],[27],[45] | 3,131 | |||||||
Investment, Identifier [Axis]: TKC Holdings, Inc., Consumer Staples Distribution & Retail | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4] | 4,467 | 4,467 | ||||||
Investment, Identifier [Axis]: Tallgrass Energy Partners, LP, Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[27] | 18,480 | |||||||
Fair Value, ending balance | [1],[2],[27] | 18,480 | |||||||
Investment, Identifier [Axis]: Telpico, LLC, Common Equity | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | 0 | 0 | 0 | ||||||
Gross Additions | 0 | [5] | 0 | [6] | |||||
Gross Reductions | 0 | [7] | 0 | [8] | |||||
Net realized gain (loss) on investments: | 0 | 0 | |||||||
Net change in unrealized appreciation (depreciation) on investments: | 0 | 0 | |||||||
Fair Value, ending balance | 0 | 0 | 0 | ||||||
Interest Income | 0 | [9] | 0 | [10] | |||||
Paid-in-kind interest income | 0 | [9] | 0 | [10] | |||||
Fee income | [10] | 0 | |||||||
Dividend income | 0 | ||||||||
Investment, Identifier [Axis]: Telpico, LLC, Common Equity, Energy—Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[25],[32],[39] | 0 | 0 | ||||||
Investment, Identifier [Axis]: Telpico, LLC, Common Equity, Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[26],[27],[33],[40] | 0 | |||||||
Fair Value, ending balance | [1],[2],[21],[26],[27],[33],[40] | 0 | |||||||
Investment, Identifier [Axis]: Tenrgys, LLC, Common Equity, Energy—Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[25],[32] | 4,531 | 4,531 | ||||||
Investment, Identifier [Axis]: Tenrgys, LLC, Common Equity, Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[26],[27],[33] | 6,801 | |||||||
Fair Value, ending balance | [1],[2],[21],[26],[27],[33] | 6,801 | |||||||
Investment, Identifier [Axis]: Tenrgys, LLC, Energy—Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17] | 19,613 | 19,613 | ||||||
Investment, Identifier [Axis]: Tenrgys, LLC, Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[27] | 20,537 | |||||||
Fair Value, ending balance | [1],[2],[21],[27] | 20,537 | |||||||
Investment, Identifier [Axis]: Traverse Midstream Partners LLC, Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2] | 28,418 | |||||||
Fair Value, ending balance | [1],[2] | 28,418 | |||||||
Investment, Identifier [Axis]: TruGreen, LP, Commercial & Professional Services | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4] | 4,603 | 4,603 | ||||||
Investment, Identifier [Axis]: USA Compression Partners, LP, Common Equity, Energy—Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[19] | 1,673 | 1,673 | ||||||
Investment, Identifier [Axis]: USA Compression Partners, LP, Common Equity, Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[23],[26],[27] | 1,655 | |||||||
Fair Value, ending balance | [1],[2],[23],[26],[27] | 1,655 | |||||||
Investment, Identifier [Axis]: USA Compression Partners, LP, Preferred Equity, Energy—Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[19] | 88,850 | 88,850 | ||||||
Investment, Identifier [Axis]: USA Compression Partners, LP, Preferred Equity, Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21] | 90,479 | |||||||
Fair Value, ending balance | [1],[2],[21] | 90,479 | |||||||
Investment, Identifier [Axis]: USA Compression Partners, LP, Warrants (Premium), Strike: $19.59, Energy—Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[19],[25] | 4,990 | 4,990 | ||||||
Investment, Identifier [Axis]: USA Compression Partners, LP, Warrants (Premium), Strike: $19.59, Midstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[23],[26],[27] | 5,711 | |||||||
Fair Value, ending balance | [1],[2],[21],[23],[26],[27] | 5,711 | |||||||
Investment, Identifier [Axis]: Warren Resources, Inc. | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | 23,584 | 23,688 | 23,688 | ||||||
Gross Additions | 119 | [11] | 237 | [12] | |||||
Gross Reductions | 0 | [13] | (341) | [14] | |||||
Net realized gain (loss) on investments: | 0 | 0 | |||||||
Net change in unrealized appreciation (depreciation) on investments: | 0 | 0 | |||||||
Fair Value, ending balance | 23,703 | 23,703 | 23,584 | ||||||
Interest Income | 1,648 | [15] | 2,620 | [16] | |||||
Paid-in-kind interest income | 119 | [15] | 237 | [16] | |||||
Dividend income | [16] | 0 | |||||||
Investment, Identifier [Axis]: Warren Resources, Inc., Common Equity | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | 36,982 | $ 25,854 | 25,854 | ||||||
Gross Additions | 0 | [11] | 0 | [12] | |||||
Gross Reductions | 0 | [13] | 0 | [14] | |||||
Net realized gain (loss) on investments: | 0 | 0 | |||||||
Net change in unrealized appreciation (depreciation) on investments: | (7,551) | 11,128 | |||||||
Fair Value, ending balance | 29,431 | 29,431 | 36,982 | ||||||
Interest Income | 0 | [15] | 0 | [16] | |||||
Paid-in-kind interest income | 0 | [15] | 0 | [16] | |||||
Dividend income | [16] | 0 | |||||||
Investment, Identifier [Axis]: Warren Resources, Inc., Common Equity, Energy—Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[25],[30] | 29,431 | 29,431 | ||||||
Investment, Identifier [Axis]: Warren Resources, Inc., Common Equity, Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[26],[27],[31] | 36,982 | |||||||
Fair Value, ending balance | [1],[2],[21],[26],[27],[31] | 36,982 | |||||||
Investment, Identifier [Axis]: Warren Resources, Inc., Energy—Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17],[30] | 23,703 | 23,703 | ||||||
Investment, Identifier [Axis]: Warren Resources, Inc., Upstream | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21],[31] | 23,584 | |||||||
Fair Value, ending balance | [1],[2],[21],[31] | 23,584 | |||||||
Investment, Identifier [Axis]: Wattbridge Inc., Energy—Power | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, ending balance | [3],[4],[17] | $ 41,568 | 41,568 | ||||||
Investment, Identifier [Axis]: Wattbridge Inc., Power | |||||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | |||||||||
Fair Value, beginning balance | [1],[2],[21] | $ 41,880 | |||||||
Fair Value, ending balance | [1],[2],[21] | $ 41,880 | |||||||
[1]Security may be an obligation of one or more entities affiliated with the named company.[2]See Note 8 for additional information regarding the fair value of the Company’s financial instruments.[3]Security may be an obligation of one or more entities affiliated with the named company.[4]See Note 8 for additional information regarding the fair value of the Company’s financial instruments.[5] (1) Gross additions may include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, the amortization of unearned income, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company into this category from a different category. (2) Gross reductions may include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company out of this category into a different category. (3) Interest and PIK income presented for the six months ended June 30, 2023. (1) Gross additions may include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, the amortization of unearned income, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company into this category from a different category. (2) Gross reductions may include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company out of this category into a different category. (3) Interest and PIK income presented for the six months ended June 30, 2023. June 30, 2023 , 73.7% of the Company’s total assets represented qualifying assets. ( 4) Security includes a partially unfunded commitment with amortized cost of $2,500 and fair value of $2,500. Portfolio Company Fair Value at December 31, 2022 Gross Additions (1) Gross Reductions (2) Net Realized Gain (Loss) Net Change in Unrealized Appreciation (Depreciation) Fair Value at June 30, 2023 Interest Income (3) PIK Income (3) Senior Secured Loans—First Lien Allied Downhole Technologies, LLC (4) $ 8,436 $ 113 $ (996) $ — $ — $ 7,553 $ 207 $ 113 Allied Wireline Services, LLC 63,888 6,389 — — — 70,277 3,223 — Warren Resources, Inc. 23,584 119 — — — 23,703 1,648 119 Sustainable Infrastructure Investments, LLC Sustainable Infrastructure Investments, LLC 51,098 — — — (949) 50,149 — — Equity/Other Allied Wireline Services, LLC, Common Equity 10,463 — — — (2,395) 8,068 — — Allied Wireline Services, LLC, Warrants — — — — — — — — Warren Resources, Inc., Common Equity 36,982 — — — (7,551) 29,431 — — $ 194,451 $ 6,621 $ (996) $ — $ (10,895) $ 189,181 $ 5,078 $ 232 _____________ (1) Gross additions may include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, the amortization of unearned income, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company into this category from a different category. (2) Gross reductions may include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company out of this category into a different category. (3) Interest and PIK income presented for the six months ended June 30, 2023. ( 4) Security includes a partially unfunded commitment with amortized cost of $2,500 and fair value of $2,500. Under the 1940 Act, the Company generally is deemed to “control” a portfolio company if it owns more than 25% of the portfolio company’s voting securities or it has the power to exercise control over the management or policies of such portfolio company. As of December 31, 2022 , the Company held investments in portfolio companies of which it is deemed to be an “affiliated person” of and deemed to “control.” The following table presents certain information with respect to investments in portfolio companies of which the Company was deemed to be an affiliated person and deemed to control as of December 31, 2022 : Portfolio Company Fair Value at December 31, 2021 Gross Additions (1) Gross Reductions (2) Net Realized Gain (Loss) Net Change in Unrealized Appreciation (Depreciation) Fair Value at December 31, 2022 Interest Income (3) PIK Income (3) Dividend Income (3) Senior Secured Loans—First Lien Allied Downhole Technologies, LLC (4) $ 7,782 $ 654 $ — $ — $ — $ 8,436 $ — $ 654 $ — Allied Wireline Services, LLC 46,339 5,808 — — 11,741 63,888 316 5,808 — MECO IV Holdco, LLC 22,745 455 (23,200) — — — — 455 — Warren Resources, Inc. 23,688 237 (341) — — 23,584 2,620 237 — Sustainable Infrastructure Investments, LLC Sustainable Infrastructure Investments, LLC 50,770 — — — 328 51,098 — — 735 Equity/Other Allied Wireline Services, LLC, Common Equity — — — — 10,463 10,463 — — — Allied Wireline Services, LLC, Warrants — — — — — — — — — MECO IV Holdco, LLC, Class A-1 Units 4,181 — (18,060) 15,899 (2,020) — — — — Warren Resources, Inc., Common Equity 25,854 — — — 11,128 36,982 — — — $ 181,359 $ 7,154 $ (41,601) $ 15,899 $ 31,640 $ 194,451 $ 2,936 $ 7,154 $ 735 _____________ (1) Gross additions may include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, the amortization of unearned income, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company into this category from a different category. (2) Gross reductions may include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company out of this category into a different category. (3) Interest, PIK and dividend income presented for the year ended December 31, 2022. ( 4) Security includes a partially unfunded commitment with amortized cost of $2,500 and fair value of $2,500. December 31, 2022 . Under the 1940 Act, the Company generally is deemed to be an “affiliated person” of a portfolio company if it owns 5% or more of the portfolio company’s voting securities and generally is deemed to “control” a portfolio company if it owns more than 25% of the portfolio company’s voting securities or it has the power to exercise control over the management or policies of such portfolio company. As of June 30, 2023, the Company held investments in portfolio companies of which it is deemed to be an “affiliated person” but is not deemed to “control”. The following table presents certain information with respect to investments in portfolio companies of which the Company was deemed to be an affiliated person as of June 30, 2023: Portfolio Company Fair Value at December 31, 2022 Gross Additions (1) Gross Reductions (2) Net Realized Gain (Loss) Net Change in Unrealized Appreciation (Depreciation) Fair Value at June 30, 2023 Interest Income (3) PIK Income (3) Senior Secured Loans—First Lien Permian Production Holdings, LLC $ 4,767 $ 113 $ — $ — $ (65) $ 4,815 $ 324 $ 48 Equity/Other GWP Midstream Holdco, LLC, Common Equity 5,044 — — — (3,659) 1,385 — — Harvest Oil & Gas Corp., Common Equity 810 — (641) — 641 810 — — Limetree Bay Energy, LLC, Class A Units 1,885 83 — (21,541) 19,573 — — — Permian Production Holdings, LLC, Common Equity 11,420 — — — (5,710) 5,710 — — Ridgeback Resources Inc., Common Equity 41,851 — (35,240) (11,359) 4,748 — — — Telpico, LLC, Common Equity — — — — — — — — $ 65,777 $ 196 $ (35,881) $ (32,900) $ 15,528 $ 12,720 $ 324 $ 48 _____________ (1) Gross additions may include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, the amortization of unearned income, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company into this category from a different category. (2) Gross reductions may include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company out of this category into a different category. (3) Interest and PIK income presented for the six months ended June 30, 2023. Under the 1940 Act, the Company generally is deemed to be an “affiliated person” of a portfolio company if it owns 5% or more of the portfolio company’s voting securities and generally is deemed to “control” a portfolio company if it owns more than 25% of the portfolio company’s voting securities or it has the power to exercise control over the management or policies of such portfolio company. As of December 31, 2022 , the Company held investments in portfolio companies of which it is deemed to be an “affiliated person” but is not deemed to “control”. The following table presents certain information with respect to investments in portfolio companies of which the Company was deemed to be an affiliated person as of December 31, 2022 : Portfolio Company Fair Value at December 31, 2021 Gross Additions (1) Gross Reductions (2) Net Realized Gain (Loss) Net Change in Unrealized Appreciation (Depreciation) Fair Value at December 31, 2022 Interest Income (3) PIK Income (3) Fee Income (3) Dividend Income (3) Senior Secured Loans—First Lien Limetree Bay Energy, LLC $ 3,166 $ — $ (1,587) $ (12,756) $ 11,177 $ — $ — $ — $ — $ — Permian Production Holdings, LLC 7,889 697 (3,674) 551 (696) 4,767 570 105 — — Senior Secured Bonds Great Western Petroleum, LLC 58,055 96 (55,096) 1,087 (4,142) — 2,649 — 7,268 — Equity/Other Great Western Petroleum, LLC, Common Equity 40,731 — (84,871) 54,081 (9,941) — — — — — GWP Midstream Holdco, LLC, Common Equity — 6,681 — — (1,637) 5,044 — — — — Harvest Oil & Gas Corp., Common Equity 2,836 — (743) — (1,283) 810 — — — — Limetree Bay Energy, LLC, Class A Units 6,046 1,795 — — (5,956) 1,885 — — — — Permian Production Holdings, LLC, Common Equity 8,829 4 — — 2,587 11,420 — — — 1,726 Ridgeback Resources Inc., Common Equity 48,356 — (12,559) 173 5,881 41,851 — — — 3,691 Telpico, LLC, Common Equity — — — — — — — — — — $ 175,908 $ 9,273 $ (158,530) $ 43,136 $ (4,010) $ 65,777 $ 3,219 $ 105 $ 7,268 $ 5,417 _____________ (1) Gross additions may include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, the amortization of unearned income, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company into this category from a different category. (2) Gross reductions may include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company out of this category into a different category. (3) Interest, PIK, fee and dividend income presented for the year ended December 31, 2022. Investment denominated in Canadian dollars. Amortized cost and fair value are converted into U.S. dollars as of December 31, 2022 Investment denominated in British pounds. Amortized cost and fair value are converted into U.S. dollars as of December 31, 2022 . |
Principal Business and Organiza
Principal Business and Organization | 6 Months Ended |
Jun. 30, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Principal Business and Organization | Principal Business and Organization FS Energy and Power Fund, or the Company, was formed as a Delaware statutory trust under the Delaware Statutory Trust Act on September 16, 2010 and formally commenced investment operations on July 18, 2011. The Company is an externally managed, non-diversified, closed-end management investment company that has elected to be regulated as a business development company, or BDC, under the Investment Company Act of 1940, as amended, or the 1940 Act. In addition, the Company has elected to be treated for U.S. federal income tax purposes, and intends to qualify annually, as a regulated investment company, or RIC, as defined under Subchapter M of the Internal Revenue Code of 1986, as amended, or the Code. The Company has various wholly-owned financing subsidiaries, including special-purpose financing subsidiaries and subsidiaries through which it holds or expects to hold interests in certain portfolio companies. The unaudited consolidated financial statements include both the Company’s accounts and the accounts of its wholly-owned subsidiaries as of June 30, 2023 . All significant intercompany transactions have been eliminated in consolidation. Certain of the Company’s consolidated subsidiaries are subject to U.S. federal and state income taxes. The Company’s investment objective is to generate current income and long-term capital appreciation by investing primarily in privately-held U.S. companies in the energy and power industry. The Company’s investment policy is to invest, under normal circumstances, at least 80% of its total assets in securities of energy and power related, or Energy, companies. The Company considers Energy companies to be those companies that engage in the exploration, development, production, gathering, transportation, processing, storage, refining, distribution, mining, generation or marketing of natural gas, natural gas liquids, crude oil, refined products, coal or power, including those companies that provide equipment or services to companies engaged in any of the foregoing. The Company’s board of trustees has approved changing the Company’s name to FS Specialty Lending Fund and changing its non-fundamental investment policy to be to invest primarily in a portfolio of secured and unsecured floating and fixed rate loans, bonds and other types of credit instruments, which, under normal circumstances, will represent at least 80% of the Company’s total assets, rather than to invest at least 80% of its total assets in securities of Energy companies. These changes will be effective on September 29, 2023. The Company is managed by FS/EIG Advisor, LLC, or FS/EIG Advisor, pursuant to an investment advisory and administrative services agreement, dated as of April 9, 2018, or the FS/EIG investment advisory agreement. FS/EIG Advisor oversees the management of the Company’s operations and is responsible for making investment decisions with respect to the Company’s portfolio. FS/EIG Advisor is jointly operated by an affiliate of Franklin Square Holdings, L.P. (which does business as FS Investments) and EIG Asset Management, LLC, or EIG. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2023 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Basis of Presentation: The accompanying unaudited consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America, or GAAP, for interim financial information and with the instructions for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. For a more complete discussion of significant accounting policies and certain other information, the Company’s interim unaudited consolidated financial statements should be read in conjunction with its audited consolidated financial statements as of and for the year ended December 31, 2022 included in the Company’s annual report on Form 10-K. Operating results for the six months ended June 30, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. The December 31, 2022 consolidated balance sheet and consolidated schedule of investments are derived from the Company's audited consolidated financial statements as of and for the year ended December 31, 2022. The Company is considered an investment company under GAAP and follows the accounting and reporting guidance applicable to investment companies under Accounting Standards Codification Topic 946, Financial Services—Investment Companies. The Company has evaluated the impact of subsequent events through the date the unaudited consolidated financial statements were issued and filed with the Securities and Exchange Commission, or the SEC. Use of Estimates: The preparation of the unaudited consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Many of the amounts have been rounded, and all amounts are in thousands, except share and per share amounts. Capital Gains Incentive Fee: Pursuant to the terms of the FS/EIG investment advisory agreement, the incentive fee on capital gains is determined and payable in arrears as of the end of each calendar year (or upon termination of such agreement). Such fee equals 20.0% of the Company’s “incentive fee capital gains,” which are the Company’s realized capital gains on a cumulative basis from inception, calculated as of the end of the applicable period, computed net of all realized capital losses and unrealized capital depreciation on a cumulative basis, less the aggregate amount of any previously paid incentive fees on capital gains. The Company will accrue for the incentive fee on capital gains, which, if earned, will be paid annually. The Company will accrue the incentive fee on capital gains based on net realized and unrealized gains; however, the fee payable to FS/EIG Advisor will be based on realized gains and no such fee will be payable with respect to unrealized gains unless and until such gains are actually realized. For the six months ended June 30, 2023 and 2022, the Company did not accrue any amount of capital gains incentive fee. Subordinated Income Incentive Fee: Pursuant to the terms of the FS/EIG investment advisory agreement, FS/EIG Advisor may also be entitled to receive a subordinated incentive fee on income. The subordinated incentive fee on income under the FS/EIG investment advisory agreement is calculated and payable quarterly in arrears and equals 20.0% of the Company’s “pre-incentive fee net investment income” for the immediately preceding quarter subject to a hurdle rate, expressed as a rate of return on adjusted capital, equal to 1.625% per quarter, or an annualized hurdle rate of 6.5%. As a result, FS/EIG Advisor will not earn this incentive fee for any quarter until the Company’s pre-incentive fee net investment income for such quarter exceeds the hurdle rate of 1.625%. For purposes of this fee, “adjusted capital” means cumulative gross proceeds generated from sales of the Company’s common shares (including proceeds from its distribution reinvestment plan) reduced for distributions from non-liquidating dispositions of the Company’s investments paid to shareholders and amounts paid for share repurchases pursuant to the Company’s share repurchase program. Once the Company’s pre-incentive fee net investment income in any quarter exceeds the hurdle rate, FS/EIG Advisor will be entitled to a “catch-up” fee equal to the amount of the Company’s pre-incentive fee net investment income in excess of the hurdle rate, until the Company’s pre-incentive fee net investment income for such quarter equals 2.031%, or 8.125% annually, of adjusted capital. This “catch-up” feature will allow FS/EIG Advisor to recoup the fees foregone as a result of the existence of the hurdle rate. Thereafter, FS/EIG Advisor will be entitled to receive 20.0% of the Company’s pre-incentive fee net investment income. For the six months ended June 30, 2023 and 2022, the Company did not accrue any amount of subordinated incentive fee on income. Reclassifications: Certain amounts in the unaudited consolidated financial statements for the six months ended June 30, 2022 may have been reclassified to conform to the classifications used to prepare the unaudited consolidated financial statements for the six months ended June 30, 2023. Revenue Recognition: Security transactions are accounted for on the trade date. The Company records interest income on an accrual basis to the extent that it expects to collect such amounts. The Company records dividend income on the ex-dividend date. Distributions received from limited liability company, or LLC, and limited partnership, or LP, investments are evaluated to determine if the distribution should be recorded as dividend income or a return of capital. The Company does not accrue as a receivable interest or dividends on loans and securities if it has reason to doubt its ability to collect such income. The Company’s policy is to place investments on non-accrual status when there is reasonable doubt that interest income will be collected. The Company considers many factors relevant to an investment when placing it on or removing it from non-accrual status including, but not limited to, the delinquency status of the investment, economic and business conditions, the overall financial condition of the underlying investment, the value of the underlying collateral, bankruptcy status, if any, and any other facts or circumstances relevant to the investment. If there is reasonable doubt that the Company will receive any previously accrued interest, then the accrued interest will be written-off. Payments received on non-accrual investments may be recognized as income or applied to principal depending upon the collectability of the remaining principal and interest. Non-accrual investments may be restored to accrual status when principal and interest become current and are likely to remain current based on the Company’s judgment. Loan origination fees, original issue discount and market discount are capitalized and the Company amortizes such amounts as interest income over the respective term of the loan or security. Upon the prepayment of a loan or security, any unamortized loan origination fees and original issue discount are recorded as interest income. Structuring and other non-recurring upfront fees are recorded as fee income when earned. The Company records prepayment premiums on loans and securities as fee income when it earns such amounts. For the six months ended June 30, 2023 and 2022, the Company did not recognize any structuring or other upfront fee revenue. Net Realized Gains or Realized Losses on Extinguishment of Debt: Upon the repayment of debt obligations which are deemed to be extinguishments, the difference between the principal amount due at maturity and the amount repaid on the extinguishment of debt is recognized as a gain or loss. Recent Accounting Pronouncements: In March 2020, the FASB issued Accounting Standards Update No. 2020-04, Reference Rate Reform (Topic 848) , or ASU 2020-04, which provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The a mendments apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. In January 2021, the FASB issued Accounting Standards Update No. 2021-01, Reference Rate Reform (Topic 848) , or ASU 2021-01, which expanded the scope of Topic 848 to include derivative instruments impacted by discounting transition. ASU 2020-04 and ASU 2021-01 are effective for all entities through December 31, 2022. The expedients and exceptions provided by the amendments do not apply to contract modifications and hedging relationships entered into or evaluated after December 31, 2022, except for hedging transactions as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. In December 2022, the FASB issued Accounting Standards Update No. 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 , or ASU 2022-06, which deferred the sunset date of this guidance to December 31, 2024. The Company is currently evaluating the impact of this guidance on its consolidated financial statements. |
Share Transactions
Share Transactions | 6 Months Ended |
Jun. 30, 2023 | |
Equity [Abstract] | |
Share Transactions | Share Transactions Below is a summary of transactions with respect to the Company’s common shares during the six months ended June 30, 2023 and 2022: Six Months Ended 2023 2022 Shares Amount Shares Amount Reinvestment of Distributions 2,663,874 $ 10,388 2,741,168 $ 10,460 Proceeds from Share Transactions 2,663,874 $ 10,388 2,741,168 $ 10,460 During the period fro m July 1, 2023 to July 31, 2023, the Company issued 1,375,076 common shares pursuant to its distribution reinvestment plan for gross proceeds of $5,156 at an average price per share of $3.75. On July 19, 2023, the Company’s board of trustees, including the independent trustees, approved the termination of the Company’s second amended and restated distribution reinvestment plan with respect to distributions declared by the Company’s board of trustees on the Company’s common shares, effective as of September 15, 2023. After this date, all shareholders will receive any subsequent distributions in cash. On February 25, 2020, the Company received exemptive relief from the SEC permitting it to offer multiple classes of common shares. While the Company has no present intention to recommence a public offering of its common shares, the Company could do so in the future. Share Repurchase Program In March 2020, in light of difficult market conditions and in an effort to preserve liquidity in the Company, the Company’s board of trustees determined to suspend for an indefinite period of time the Company’s share repurchase program and will reassess the Company’s ability to recommence such program in future periods. Prior to its suspension, the Company intended to conduct quarterly tender offers pursuant to its share repurchase program. The Company's board of trustees will consider the following factors, among others, in making its determination regarding whether to cause the Company to offer to repurchase common shares and under what terms: • the effect of such repurchases on the Company’s qualification as a RIC (including the consequences of any necessary asset sales); • the liquidity of the Company's assets (including fees and costs associated with disposing of assets); • the Company’s investment plans and working capital requirements; • the relative economies of scale with respect to the Company’s size; • the Company’s history in repurchasing common shares or portions thereof; and • the condition of the securities markets. Historically, the Company limited the number of common shares to be repurchased during any calendar year to the lesser of (i) the number of common shares the Company can repurchase with the proceeds it receives from the issuance of common shares under the Company’s distribution reinvestment plan and (ii) 10% of the weighted average number of common shares outstanding in the prior calendar year, or 2.5% in each calendar quarter. On May 5, 2017, the board of trustees of the Company further amended the share repurchase program. As amended, the Company limited the maximum number of common shares to be repurchased for any repurchase offer to the greater of (A) the number of common shares that the Company can repurchase with the proceeds it has received from the sale of common shares under its distribution reinvestment plan during the twelve-month period ending on the date the applicable repurchase offer expires (less the amount of proceeds used to repurchase common shares on each previous repurchase date for repurchase offers conducted during such twelve-month period) (this limitation is referred to as the twelve-month repurchase limitation) and (B) the number of common shares that the Company can repurchase with the proceeds the Company receives from the sale of common shares under its distribution reinvestment plan during the three-month period ending on the date the applicable repurchase offer expires (this limitation is referred to as the three-month repurchase limitation). In addition to this limitation, the maximum number of common shares to be repurchased for any repurchase offer has also been limited to 10% of the weighted average number of common shares outstanding in the prior calendar year, or 2.5% in each calendar quarter. As a result, the maximum number of common shares to be repurchased for any repurchase offer would not exceed the lesser of (i) 10% of the weighted average number of common shares outstanding in the prior calendar year, or 2.5% in each calendar quarter, and (ii) whichever is greater of the twelve-month repurchase limitation described in clause (A) above and the three-month repurchase limitation described in clause (B) above. Historically, pursuant to the Company's share repurchase program, the Company offered to repurchase common shares at a price equal to the price at which common shares are issued pursuant to the Company’s distribution reinvestment plan on the distribution date coinciding with the applicable share repurchase date. The price at which common shares are issued under the Company’s distribution reinvestment plan is determined by the Company’s board of trustees or a committee thereof, in its sole discretion, and will be (i) not less than the net asset value per common share as determined in good faith by the Company’s board of trustees or a committee thereof, in its sole discretion, immediately prior to the payment date of the distribution and (ii) not more than 2.5% greater than the net asset value per common share as of such date. The Company’s board of trustees may amend, suspend or terminate the share repurchase program at any time, upon 30 days’ notice. The Company did not repurchase any shares pursuant to its share repurchase program during the six months ended June 30, 2023 and 2022. The Company's distribution reinvestment plan will be terminated effective September 15, 2023. In order to minimize the expense of supporting small accounts and provide additional liquidity to shareholders of the Company holding small accounts after completion of a regular quarterly share repurchase offer, the Company reserves the right to repurchase the shares of and liquidate any investor’s account if the balance of such account is less than the Company’s $5 minimum initial investment, unless the account balance has fallen below the minimum solely as a result of a decline in the Company’s net asset value per share. The Company will provide or will cause to be provided 30 days’ prior written notice to potentially affected investors, which notice may be included in regular quarterly repurchase offer materials, of any such repurchase. Historically, any such repurchases were made at the Company’s most recent price at which the Company’s shares were issued pursuant to its distribution reinvestment plan. There were no de minimis account liquidations during the six months ended June 30, 2023 and 2022. |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Jun. 30, 2023 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Related Party Transactions Compensation of the Investment Adviser Pursuant to the FS/EIG investment advisory agreement, FS/EIG Advisor is entitled to an annual base management fee based on the average weekly value of the Company’s gross assets (gross assets equals total assets as set forth on the Company’s consolidated balance sheets) during the most recently completed calendar quarter and an incentive fee based on the Company’s performance. The base management fee is payable quarterly in arrears, and is calculated at an annual rate of 1.75% of the average weekly value of the Company’s gross assets. See Note 2 for a discussion of the capital gains and subordinated income incentive fees that FS/EIG Advisor may be entitled to under the FS/EIG investment advisory agreement. FS/EIG Advisor may receive structuring or other upfront fees from portfolio companies in which FS/EIG Advisor has caused the Company to invest. FS/EIG Advisor has agreed to offset the amount of any structuring, upfront or certain other fees received by FS/EIG Advisor or its members against the management fees payable by the Company under the FS/EIG investment advisory agreement. During the six months ended June 30, 2023 and 2022, $274 and $2,398, respectively, of structuring, upfront or certain other fees received by FS/EIG Advisor or its members were offset against management fees. Pursuant to the FS/EIG investment advisory agreement, FS/EIG Advisor oversees the Company’s day-to-day operations, including the provision of general ledger accounting, fund accounting, legal services, investor relations, certain government and regulatory affairs activities and other administrative services. FS/EIG Advisor also performs, or oversees the performance of, the Company’s corporate operations and required administrative services, which includes being responsible for the financial records that the Company is required to maintain and preparing reports for the Company’s shareholders and reports filed with the SEC. The Company reimburses FS/EIG Advisor for expenses necessary to perform services related to the Company’s administration and operations, including FS/EIG Advisor’s allocable portion of the compensation and/or related expenses of certain personnel of FS Investments and EIG providing administrative services to the Company on behalf of FS/EIG Advisor, and for transactional expenses for prospective investments, such as fees and expenses associated with performing due diligence reviews of investments that do not close, often referred to as “broken deal” costs. The Company reimburses FS/EIG Advisor no less than quarterly for expenses necessary to perform services related to the Company’s administration and operations. The amount of this reimbursement is set at the lesser of (1) FS/EIG Advisor’s actual costs incurred in providing such services and (2) the amount that the Company estimates it would be required to pay alternative service providers for comparable services in the same geographic location. FS/EIG Advisor allocates the cost of such services to the Company based on factors such as time allocations and other reasonable metrics. The Company’s board of trustees reviews the methodology employed in determining how the expenses are allocated to the Company and assesses the reasonableness of such reimbursements for expenses allocated to the Company based on the breadth, depth and quality of such services as compared to the estimated cost to the Company of obtaining similar services from third-party providers known to be available. In addition, the Company’s board of trustees considers whether any single third-party service provider would be capable of providing all such services at comparable cost and quality. Finally, the Company’s board of trustees, among other things, compares the total amount paid to FS/EIG Advisor for such services as a percentage of the Company’s net assets to the same ratio as reported by other comparable BDC s. The Company does not reimburse FS/EIG Advisor for any services for which it receives a separate fee, or for rent, depreciation, utilities, capital equipment or other administrative items allocated to a controlling person of FS/EIG Advisor. The following table describes the fees and expenses accrued under the FS/EIG investment advisory agreement during the three and six months ended June 30, 2023 and 2022: Three Months Ended Six Months Ended Related Party Source Agreement Description 2023 2022 2023 2022 FS/EIG Advisor FS/EIG investment advisory agreement Base Management Fee (1) $ 8,686 $ 9,576 $ 18,905 $ 19,613 FS/EIG Advisor FS/EIG investment advisory agreement Administrative Services Expenses (2) $ 1,359 $ 1,490 $ 2,679 $ 2,910 _________________________ (1) During the six months ended June 30, 2023 and 2022, $21,404 and $20,503, respectively, in base management fees were paid to FS/EIG Advisor. The base management fee amount shown in the table above is shown net of $19 and $1,700 in structuring, upfront or certain other fees received by FS/EIG Advisor or its members and offset against base management fees for the three months ended June 30, 2023 and 2022, respectively, and $274 and $2,398 in structuring, upfront or certain other fees received by FS/EIG Advisor or its members and offset against base management fees for the six months ended June 30, 2023 and 2022, respectively. As of June 30, 2023 , $8,686 in base management fees were payable to FS/EIG Advisor. (2) During the six months ended June 30, 2023 and 2022, $1,649 and $1,372, respectively, of the accrued administrative services expenses related to the allocation of costs of administrative personnel for services rendered to the Company by FS/EIG Advisor and the remainder related to other reimbursable expenses. The Company paid $2,933 and $2,234 in administrative services expenses to FS/EIG Advisor, or its affiliates, during the six months ended June 30, 2023 and 2022, respectively. Potential Conflicts of Interest The members of the senior management and investment teams of FS/EIG Advisor serve or may serve as officers, directors or principals of entities that operate in the same or a related line of business as the Company does, or of investment vehicles managed by the same personnel. The officers, managers and other personnel of FS/EIG Advisor may serve in similar or other capacities for the investment advisers to future investment vehicles affiliated with FS Investments or EIG. In serving in these multiple and other capacities, they may have obligations to other clients or investors in those entities, the fulfillment of which may not be in the Company’s best interests or in the best interest of the Company’s shareholders. The Company’s investment objectives may overlap with the investment objectives of such investment funds, accounts or other investment vehicles. For additional information regarding potential conflicts of interest, see the Company’s annual report on Form 10-K for the year ended December 31, 2022. Exemptive Relief As a BDC, the Company is subject to certain regulatory restrictions in making its investments. For example, BDCs generally are not permitted to co-invest with certain affiliated entities in transactions originated by the BDC or its affiliates in the absence of an exemptive order from the SEC. However, BDCs are permitted to, and may, simultaneously co-invest in transactions where price is the only negotiated term. In an order dated June 4, 2013, or the Order, the SEC granted exemptive relief permitting the Company, subject to the satisfaction of certain conditions, to co-invest in certain privately negotiated investment transactions with certain affiliates of its former investment adviser, including FS KKR Capital Corp., or collectively the Company’s co-investment affiliates. Effective April 9, 2018, or the JV Effective Date, and in connection with the transition of advisory services to a joint advisory relationship with EIG, the Company’s board of trustees authorized and directed that the Company (i) withdraw from the Order, except with respect to any transaction in which the Company participated in reliance on the Order prior to the JV Effective Date, and (ii) rely on an exemptive relief order dated April 10, 2018, granted to EIG and its affiliates which permits the Company to participate in co-investment transactions with certain other EIG advised funds, or the EIG Order. |
Distributions
Distributions | 6 Months Ended |
Jun. 30, 2023 | |
Income Tax Disclosure [Abstract] | |
Distributions | Distributions The following table reflects the cash distributions per share that the Company declared on its common shares during the six months ended June 30, 2023 and 2022: Distribution For the Three Months Ended Per Share Amount Fiscal 2022 March 31, 2022 $ 0.03 $ 13,426 June 30, 2022 0.03 13,465 Total $ 0.06 $ 26,891 Fiscal 2023 March 31, 2023 $ 0.03 $ 13,584 June 30, 2023 0.03 13,624 Total $ 0.06 $ 27,208 The Company expects to provide quarterly distributions to shareholders commencing in the third quarter of 2023 at an annualized distribution rate of approximately 7.5% based on the Company’s estimated net asset value at the time of declaration and increasing in subsequent years until the achievement of a long-term liquidity event, subject to a maximum cap of 15% of the Company’s then-current estimated net asset value beyond 2026. There can be no assurance that the Company will be able to pay distributions in the future. The timing and amount of any future distributions to shareholders are subject to applicable legal restrictions and the sole discretion of the Company’s board of trustees. The Company has adopted an “opt in” distribution reinvestment plan for its shareholders. As a result, if the Company makes a cash distribution, its shareholders will receive distributions in cash unless they specifically “opt in” to the distribution reinvestment plan so as to have their cash distributions reinvested in additional common shares. However, certain state authorities or regulators may impose restrictions from time to time that may prevent or limit a shareholder's ability to participate in the distribution reinvestment plan. The Company's distribution reinvestment plan is terminated effective as of September 15, 2023. Under the distribution reinvestment plan, cash distributions to participating shareholders will be reinvested in additional common shares at a purchase price determined by the Company’s board of trustees, or a committee thereof, in its sole discretion, that is (i) not less than the net asset value per common share as determined in good faith by the Company’s board of trustees or a committee thereof, in its sole discretion, immediately prior to the payment of the distribution and (ii) not more than 2.5% greater than the net asset value per common share as of such date. Any distributions reinvested under the plan will remain taxable to a U.S. shareholder. The Company may fund its cash distributions to shareholders from any sources of funds legally available to it, including proceeds from the sale of the Company’s common shares, borrowings, net investment income from operations, capital gains proceeds from the sale of assets and non-capital gains proceeds from the sale of assets, dividends or other distributions paid to the Company on account of preferred and common equity investments in portfolio companies. The Company has not established limits on the amount of funds it may use from available sources to make distributions. The Company's distribution proceeds have exceeded and in the future may exceed its earnings. Therefore, portions of the distributions that the Company has made represented, and may make in the future may represent, a return of capital to shareholders, which lowers their tax basis in their common shares. A return of capital generally is a return of a shareholder’s investment rather than a return of earnings or gains derived from the Company’s investment activities. Each year a statement on Form 1099-DIV identifying the sources of the distributions (i.e., paid from ordinary income, paid from net capital gains on the sale of securities, and/or a return of capital, which is a nontaxable distribution) will be mailed to the Company’s shareholders. There can be no assurance that the Company will be able to pay distributions at a specific rate or at all. The following table reflects the sources of the cash distributions on a tax basis that the Company declared on its common shares during the six months ended June 30, 2023 and 2022: Six Months Ended 2023 2022 Source of Distribution Distribution Amount Percentage Distribution Amount Percentage Net investment income (1) $ 27,208 100 % $ 26,891 100 % Short-term capital gains proceeds from the sale of assets — — — — Long-term capital gains proceeds from the sale of assets — — — — Total $ 27,208 100 % $ 26,891 100 % _________________________ (1) During the six months ended June 30, 2023 and 2022, 82.3% and 80.3%, respectively, of the Company's gross investment income was attributable to cash income earned, 14.0% and 15.0%, respectively, was attributable to paid-in-kind, or PIK, interest and 3.7% and 4.7%, respectively, was attributable to non-cash accretion of discount. In the past, the Company has experienced restructurings and defaults and may experience such events again in the future. Any restructuring or default may have an impact on the level of income received by the Company. The determination of the tax attributes of the Company’s distributions is made annually as of the end of the Company’s fiscal year based upon the Company’s taxable income for the full year and distributions paid for the full year. Therefore, a determination made on a quarterly basis may not be representative of the actual tax attributes of the Company's distributions for a full year. The actual tax characteristics of distributions to shareholders are reported to shareholders annually on Form 1099-DIV. Net capital losses may be carried forward indefinitely, and their character is retained as short-term or long-term. As of June 30, 2023, the Company had short-term and long-term capital loss carryforwards available to offset future realized capital gains of $70,196 and $1,273,062, respectively. As of June 30, 2023 and December 31, 2022, for federal income tax purposes, the gross unrealized appreciation on the Company’s investments, swap contracts and unrealized gain on foreign currency was $225,951 and $334,635, respectively, and the gross unrealized depreciation on the Company’s investments, swap contracts and unrealized loss on foreign currency was $422,405 and $512,206, respectively. The aggregate cost of the Company’s investments for federal income tax purposes totaled $1,692,550 and $2,223,943 as of June 30, 2023 and December 31, 2022, respectively. The aggregate net unrealized appreciation (depreciation) on a tax basis was $(196,948) and $(176,828) as of June 30, 2023 and December 31, 2022, respectively. As of June 30, 2023 and December 31, 2022, the Company had deferred tax assets of $149,104 and $145,383, respectively, resulting from interest expense disallowance, net operating losses and capital losses of the Company's wholly-owned taxable subsidiaries. As of June 30, 2023 and December 31, 2022, the Company had deferred tax liabilities of $10,485 and $28,753, respectively, resulting from unrealized appreciation on investments held by the Company's wholly-owned taxable subsidiaries. As of June 30, 2023 and December 31, 2022, certain wholly-owned taxable subsidiaries anticipated that they would be unable to fully utilize their deferred tax assets, therefore the deferred tax assets were offset by valuation allowances of $138,619 and $116,630, respectively. For the six months ended June 30, 2023, the Company did not record a provision for taxes related to its wholly-owned taxable subsidiaries. For the year ended December 31, 2022, the Company recorded a provision for taxes related to its wholly-owned taxable subsidiaries of $1,207 related to current taxes. |
Financial Instruments
Financial Instruments | 6 Months Ended |
Jun. 30, 2023 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Financial Instruments | Financial Instruments The Company may trade in financial instruments with off-balance sheet risk in the normal course of its investing activities. During the six months ended June 30, 2023 and 2022, the Company utilized swap contracts to economically hedge certain risks against natural gas and crude oil price exposure related to certain investments in the Company's portfolio. While the use of these derivative instruments limits the downside risk of adverse price movements, their use also limits future revenues from upward price movements. The Company's fixed price swaps are settled monthly based on differences between the fixed price specified in the contract and the referenced settlement price. When the referenced settlement price is less than the price specified in the contract, the Company receives an amount from the counterparty based on the price difference multiplied by the volume. Similarly, when the referenced settlement price exceeds the price specified in the contract, the Company pays the counterparty an amount based on the price difference multiplied by the volume. The prices contained in these fixed price swaps are based on the NYMEX Henry Hub for natural gas and the ICE Brent for oil. Gas volumes are measured in one million British thermal units, or MMBtus, and oil volumes are measured in barrels, or Bbls. Below is a summary of the Company's open fixed price swap positions as of June 30, 2023. The hedged volumes reflected below represent an aggregation of multiple derivative contracts that have varying durations and may not be realized on a ratable basis over a calendar year. Swap Contracts—Crude Oil Year Settlement Index Bbls Weighted Average Price 2023 ICE Brent 80,561 $80.00 Swap Contracts—Natural Gas Year Settlement Index MMBtu Weighted Average Price 2023 NYMEX Henry Hub 139,923 $3.80 During the six months ended June 30, 2023, the average monthly notional volume of fixed price swap contracts—crude oil and fixed price swap contracts—natural gas outstanding were 131,294 Bbls and 242,102 MMBtus, respectively. The following table presents the fair value of open swap contracts (which are not considered to be hedging instruments for accounting disclosure purposes) as of June 30, 2023 and December 31, 2022: June 30, 2023 December 31, 2022 Instrument Asset (1) Liability (2) Asset (1) Liability (2) Swap Contracts—Crude Oil $ 399 $ — $ — $ (572) Swap Contracts—Natural Gas 106 — — (126) Total $ 505 $ — $ — $ (698) ______________ (1) Reflected on the Company's consolidated balance sheets as: Unrealized appreciation on swap contracts. (2) Reflected on the Company's consolidated balance sheets as: Unrealized depreciation on swap contracts. The effect of swap contracts (which are not considered to be hedging instruments for accounting disclosure purposes) on the Company's statements of operations for the six months ended June 30, 2023 and 2022 was as follows: Net Realized Gains (Losses) (1) Net Change in Unrealized (2) Six Months Ended Six Months Ended Instrument 2023 2022 2023 2022 Swap Contracts—Crude Oil $ (18) $ (1,502) $ 971 $ (3,156) Swap Contracts—Natural Gas 244 (306) 232 (432) Total $ 226 $ (1,808) $ 1,203 $ (3,588) ______________ (1) Reflected on the Company's consolidated statements of operations as: Net realized gain (loss) on swap contracts. (2) Reflected on the Company's consolidated statements of operations as: Net change in unrealized appreciation (depreciation) on swap contracts. Offsetting of Derivative Instruments The Company has derivative instruments that are subject to master netting agreements. These agreements include provisions to offset positions with the same counterparty in the event of default by one of the parties. The Company’s unrealized appreciation and depreciation on derivative instruments are reported as gross assets and liabilities, respectively, in the consolidated balance sheets. The following tables present the Company’s derivative assets and liabilities by counterparty, net of amounts available for offset under a master netting agreement as of June 30, 2023 and December 31, 2022: As of June 30, 2023 Counterparty Derivative Assets Derivative Liabilities Net Value of Derivatives Non-Cash Collateral (Received) Pledged (1) Cash Collateral (Received) Pledged (1) Net Amount of Derivative Assets (Liabilities) (2) BP Energy Co. $ 505 — $ 505 — — $ 505 As of December 31, 2022 Counterparty Derivative Assets Derivative Liabilities Net Value of Derivatives Non-Cash Collateral (Received) Pledged (1) Cash Collateral (Received) Pledged (1) Net Amount of Derivative Assets (Liabilities) (2) BP Energy Co. — $ (698) $ (698) — — $ (698) ______________ (1) In some instances, the actual amount of the collateral received and/or pledged may be more than the amount shown due to overcollateralization. (2) Net amount of derivative assets and liabilities represents the net amount due from the counterparty to the Company and the net amount due from the Company to the counterparty, respectively, in the event of default. |
Investment Portfolio
Investment Portfolio | 6 Months Ended |
Jun. 30, 2023 | |
Schedule of Investments [Abstract] | |
Investment Portfolio | Investment Portfolio The following table summarizes the composition of the Company’s investment portfolio at cost and fair value as of June 30, 2023 and December 31, 2022: June 30, 2023 December 31, 2022 Amortized Cost (1) Fair Value Percentage Amortized Cost (1) Fair Value Percentage Senior Secured Loans—First Lien $ 531,752 $ 522,029 35 % $ 702,842 $ 706,646 35 % Senior Secured Loans—Second Lien 125,774 125,003 8 % 143,153 143,270 7 % Senior Secured Bonds 24,043 23,954 2 % 10,064 10,074 0 % Unsecured Debt 106,505 106,092 7 % 253,675 241,418 12 % Preferred Equity 301,615 301,619 20 % 425,182 400,414 20 % Sustainable Infrastructure Investments, LLC 54,514 50,149 3 % 54,514 51,098 2 % Equity/Other 262,135 366,756 25 % 333,510 494,195 24 % Total $ 1,406,338 $ 1,495,602 100 % $ 1,922,940 $ 2,047,115 100 % ______________ (1) Amortized cost represents the original cost adjusted for the amortization of premiums and/or accretion of discounts, as applicable, on investments. In general, under the 1940 Act, the Company would be presumed to “control” a portfolio company if it owned more than 25% of its voting securities or it had the power to exercise control over the management or policies of a portfolio company, and would be an “affiliated person” of a portfolio company if it owned 5% or more of its voting securities. As of June 30, 2023, the Company held investments in four portfolio companies of which it is deemed to be an “affiliated person” but is not deemed to “control.” As of June 30, 2023, the Company held investments in three portfolio companies of which it is deemed to “control.” For additional information with respect to such portfolio companies, see footnotes (s) and (t) to the unaudited consolidated schedule of investments as of June 30, 2023 in this quarterly report on Form 10-Q. As of December 31, 2022, the Company held investments in six portfolio companies of which it is deemed to be an “affiliated person” but is not deemed to “control.” As of December 31, 2022, the Company held investments in three portfolio companies of which it is deemed to “control.” For additional information with respect to such portfolio companies, see footnotes (t) and (u) to the consolidated schedule of investments as of December 31, 2022 in this quarterly report on Form 10-Q. The Company’s investment portfolio may contain loans or bonds that are in the form of lines of credit or revolving credit facilities, or other investments, pursuant to which the Company may be required to provide funding when requested by portfolio companies in accordance with the terms of the underlying agreements. As of June 30, 2023, the Company had three senior secured loan investments with aggregate unfunded commitments of $10,568 and unfunded commitments of $7,625 in U.S. dollars and $858 in Canadian dollars to contribute capital to Sustainable Infrastructure Investments, LLC. As of December 31, 2022, the Company had six senior secured loan investments with aggregate unfunded commitments of $25,891 and unfunded commitments of $7,625 in U.S dollars and $858 in Canadian dollars to contribute capital to Sustainable Infrastructure Investments, LLC. The Company maintains sufficient cash on hand, available borrowings and/or liquid securities to fund such unfunded commitments should the need arise. The table below describes investments by industry classification and enumerates the percentage, by fair value, of the total portfolio assets in such industries as of June 30, 2023 and December 31, 2022: June 30, 2023 December 31, 2022 Industry Classification Fair Value Percentage Fair Value Percentage Energy—Upstream $ 610,146 41 % $ 854,974 42 % Energy—Midstream 465,345 31 % 646,488 32 % Energy—Power 197,789 13 % 386,007 19 % Energy—Service & Equipment 95,968 7 % 96,040 5 % Commercial & Professional Services (1) 17,619 1 % 12,508 0 % Consumer Discretionary Distribution & Retail 16,041 1 % — — Insurance 10,062 1 % — — Health Care Equipment & Services 8,562 1 % — — Consumer Services 7,771 1 % — — Automobiles & Components 6,853 0 % — — Transportation 4,830 0 % — — Consumer Staples Distribution & Retail 4,467 0 % — — Sustainable Infrastructure Investments, LLC (2) 50,149 3 % 51,098 2 % Total $ 1,495,602 100 % $ 2,047,115 100 % _____________________ (1) FS/EIG Advisor monitors the industry classification of the Company’s investments and may from time to time reclassify such investments if it determines such reclassification is appropriate. During the six months ended June 30, 2023, two investments had their industry re-classified from Energy — Industrials to Commercial & Professional Services, and one investment had its industry re-classified from Energy — Service & Equipment to Commercial & Professional Services. (2) Sustainable Infrastructure Investments, LLC is generally comprised of midstream and renewables assets in the Energy sector. Sustainable Infrastructure Investments, LLC Sustainable Infrastructure Investments, LLC, or SIIJV, is a joint venture between the Company and Imperial Sustainable Infrastructure Investments, LLC, or Imperial, a subsidiary of Imperial Capital Asset Management, LLC, or ICAM. The joint venture is governed pursuant to the terms of an amended and restated limited liability company agreement of SIIJV, dated as of January 2, 2020, between the Company and Imperial, or the SIIJV Agreement. The SIIJV Agreement requires the Company and Imperial to provide capital to SIIJV of up to $67,629 in U.S. dollars and $5,430 in Canadian dollars in the aggregate where the Company and Imperial would provide 87.5% and 12.5%, respectively, of the committed capital. Pursuant to the terms of the SIIJV Agreement, the Company and Imperial each have 50% voting control of SIIJV and are required to agree on all investment decisions as well as all other significant actions for SIIJV. SIIJV invests in senior secured loans (both first lien and second lien) to middle market companies, broadly syndicated loans and other midstream, renewables and power assets. As administrative agent of SIIJV, the Company performs certain day-to-day management responsibilities on behalf of SIIJV and is entitled to a fee in the annual amount of 0.25% of SIIJV’s net assets under administration, calculated and payable quarterly in arrears. As of June 30, 2023, the Company and Imperial funded approximately $62,300 to SIIJV, of which $54,514 was from the Company. The Company does not consolidate SIIJV in its consolidated financial statements. On January 2, 2020, Seine Funding, LLC, or Seine Funding, a wholly-owned subsidiary of SIIJV, entered into a credit facility, as amended, or the Seine Funding Facility, with certain financial institutions as lender, agent, collateral agent, collateral administrator, and collateral custodian, and SIIJV, as collateral manager. The Seine Funding Facility provides for borrowings in U.S. dollars and certain agreed upon foreign currencies in an aggregate principal amount of up to $634,103 on a committed basis, which may be increased under certain circumstances at the request of Seine Funding and with the consent of the lender and agent. The end of the reinvestment period for the Seine Funding Facility was on December 31, 2020. The maturity date for the Seine Funding Facility is the earlier of (i) the latest maturity date among the assets securing the facility and (ii) the first date, after the end of the reinvestment period, on which all assets securing the facility are paid in full. Under the Seine Funding Facility, borrowings bear interest at the rate of three-month LIBOR (or the relevant reference rate for any foreign currency borrowings) (subject to a 0% floor) plus 1.20% per annum. Borrowings under the Seine Funding Facility are secured by a first priority security interest in substantially all of the assets of Seine Funding. As of June 30, 2023, total outstanding borrowings under the Seine Funding Facility were $206,303. Below is a summary of SIIJV's portfolio, followed by a listing of the individual loans in SIIJV's portfolio as of June 30, 2023 and December 31, 2022: June 30, 2023 December 31, 2022 Total investments (1) $ 264,692 $ 274,088 Weighted average current interest rate on debt investments (2) 7.60 % 6.96 % Number of portfolio assets in SIIJV 9 9 Largest investment in a single portfolio company (1) $ 70,610 $ 73,707 _____________________ (1) At cost. (2) Computed as the (a) annual stated interest rate on accruing debt, divided by (b) total debt at par amount. Sustainable Infrastructure Investments, LLC Portfolio As of June 30, 2023 (Unaudited) Portfolio Company (a)(f) Footnotes Energy Industry Rate (b) Maturity Principal (c) Amortized Fair (d) Senior Secured Loans—First Lien—100.0% Alianca Transportadora de Gas Participacoes S.A. Midstream L+285 5/23/27 $ 70,610 $ 70,610 $ 72,560 Blue Heron Intermediate Holdco I, LLC Midstream S+188 4/22/24 31,244 31,244 31,352 Cedar Creek II LLC Renewables S+188 11/18/23 8,160 8,160 8,177 Copper Mountain Solar 3, LLC Renewables S+188 5/31/25 17,105 17,105 17,221 FLNG Liquefaction 2, LLC Midstream S+150 12/31/26 27,375 27,375 27,303 Meikle Wind Energy, LP (e) Renewables C+150 5/12/24 C$ 15,471 11,903 11,611 NES Hercules Class B Member, LLC Renewables S+165 1/31/28 $ 24,317 24,317 24,847 ST EIP Holdco LLC Midstream L+250 11/5/24 58,124 58,124 57,900 Top of the World Wind Energy LLC Renewables S+188 12/1/28 15,854 15,854 16,273 Total Senior Secured Loans—First Lien 264,692 267,244 TOTAL INVESTMENTS—100.0% $ 264,692 $ 267,244 Sustainable Infrastructure Investments, LLC Portfolio As of December 31, 2022 Portfolio Company (a)(f) Footnotes Industry Rate (b) Maturity Principal (c) Amortized Fair (d) Senior Secured Loans—First Lien—100.0% Alianca Transportadora de Gas Participacoes S.A. Midstream L+260 5/23/27 $ 73,707 $ 73,707 $ 74,601 Blue Heron Intermediate Holdco I, LLC Midstream L+188 4/22/24 31,832 31,832 31,885 Cedar Creek II LLC Renewables L+188 11/18/23 8,710 8,710 8,722 Copper Mountain Solar 3, LLC Renewables L+175 5/31/25 17,804 17,804 17,879 FLNG Liquefaction 2, LLC Midstream L+150 12/31/26 28,170 28,170 27,990 Meikle Wind Energy, LP (e) Renewables C+150 5/12/24 C$ 16,030 12,332 11,873 NES Hercules Class B Member, LLC Renewables L+150 1/31/28 $ 24,487 24,487 24,954 ST EIP Holdco LLC Midstream L+250 11/5/24 58,673 58,673 58,288 Top of the World Wind Energy LLC Renewables L+188 12/1/28 18,373 18,373 18,866 Total Senior Secured Loans—First Lien 274,088 275,058 TOTAL INVESTMENTS—100.0% $ 274,088 $ 275,058 _____________________ Percentages are shown as a percentage of total investments. (a) Security may be an obligation of one or more entities affiliated with the named company. (b) Certain variable rate securities in the Company’s portfolio bear interest at a rate determined by a publicly disclosed base rate plus a basis point spread. As of June 30, 2023 and December 31, 2022, the three-month LIBOR, or L , was 5.55% and 4.77%, respectively, the Canadian Dollar Offered Rate, or C , was 5.40% and 4.94%, respectively, and the SOFR, or S, was 5.27% and 4.59%, respectively. (c) Denominated in U.S. dollars unless otherwise noted. (d) Security is classified as Level 3 and fair value is determined in accordance with the Company’s valuation process. (e) Investment denominated in Canadian dollars. Amortized cost and fair value are converted into U.S. dollars as of June 30, 2023 and December 31, 2022. (f) Security or portion thereof is held within Seine Funding and is pledged as collateral supporting the amounts outstanding under the Seine Funding Facility. Below is selected balance sheet information for SIIJV as of June 30, 2023 and December 31, 2022: June 30, 2023 December 31, 2022 Selected Balance Sheet Information Total investments, at fair value $ 267,244 $ 275,058 Cash and other assets 16,037 10,380 Total assets $ 283,281 $ 285,438 Debt $ 206,303 $ 213,583 Other liabilities 4,105 3,358 Total liabilities 210,408 216,941 Member's equity $ 72,873 $ 68,497 Below is selected statement of operations information for SIIJV for the three and six months ended June 30, 2023 and 2022: Three Months Ended Six Months Ended 2023 2022 2023 2022 Selected Statement of Operations Information Total investment income $ 5,013 $ 2,243 $ 9,811 $ 4,073 Expenses Interest expense 3,319 1,178 6,460 2,151 Administrative services 45 40 88 81 Custodian and accounting fees 58 57 103 104 Professional services 50 26 100 51 Other 10 — 20 — Total expenses 3,482 1,301 6,771 2,387 Net investment income 1,531 942 3,040 1,686 Net realized and unrealized gain (loss) (610) (1,316) 1,336 (2,016) Net increase (decrease) in net assets resulting from operations $ 921 $ (374) $ 4,376 $ (330) |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 6 Months Ended |
Jun. 30, 2023 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments | Fair Value of Financial Instruments Under existing accounting guidance, fair value is defined as the price that the Company would receive upon selling an investment or pay to transfer a liability in an orderly transaction to a market participant in the principal or most advantageous market for the investment. This accounting guidance emphasizes valuation techniques that maximize the use of observable market inputs and minimize the use of unobservable inputs. Inputs refer broadly to the assumptions that market participants would use in pricing an asset or liability, including assumptions about risk. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing an asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the assumptions market participants would use in pricing an asset or liability developed based on the best information available in the circumstances. The Company classifies the inputs used to measure these fair values into the following hierarchy as defined by current accounting guidance: Level 1: Inputs that are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs that are quoted prices for similar assets or liabilities in active markets. Level 3: Inputs that are unobservable for an asset or liability. A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. As of June 30, 2023 and December 31, 2022, the Company’s investments were categorized as follows in the fair value hierarchy: Valuation Inputs June 30, 2023 December 31, 2022 Level 1—Price quotations in active markets $ 4,347 $ 2,465 Level 2—Significant other observable inputs 188,658 450,445 Level 3—Significant unobservable inputs 1,302,597 1,594,205 Total $ 1,495,602 $ 2,047,115 As of June 30, 2023 and December 31, 2022, the Company’s swap contracts were categorized as follows in the fair value hierarchy: June 30, 2023 December 31, 2022 Valuation Inputs Assets Liabilities Assets Liabilities Level 1—Price quotations in active markets $ — $ — $ — $ — Level 2—Significant other observable inputs 505 — — 698 Level 3—Significant unobservable inputs — — — — Total $ 505 $ — $ — $ 698 The Company’s board of trustees is responsible for overseeing the valuation of the Company’s portfolio investments at fair value as determined in good faith pursuant to FS/EIG Advisor’s valuation policy. The Company’s board of trustees has designated FS/EIG Advisor with day-to-day responsibility for implementing the portfolio valuation process set forth in FS/EIG Advisor’s valuation policy. The Company’s investments consist primarily of investments that were acquired directly from the issuer. Debt investments, for which broker quotes or pricing information from third-party pricing services are not generally available, are valued by FS/EIG Advisor with the assistance of independent valuation firms, which determine a valuation range of fair value for such investments by considering, among other factors, the borrower’s ability to adequately service its debt, prevailing interest rates for like investments, call features, anticipated prepayments and other relevant terms of the investments. Except as described below, the Company’s investment in SIIJV and all of the Company’s preferred equity and equity/other investments are also valued by independent valuation firms, which determine the fair value of such investments by considering, among other factors, contractual rights ascribed to such investments, as well as various income scenarios and multiples of earnings before interest, taxes, depreciation and amortization, or EBITDA, cash flows, net income, revenues or, in limited instances, book value, PV-10 multiples or liquidation value. An investment that is newly issued and purchased near the date of the financial statements is valued at cost if FS/EIG Advisor determines that the cost of such investment is the best indication of its fair value. Such investments described above are typically classified as Level 3 within the fair value hierarchy. Investments that are traded on an active public market are valued at their closing price as of the date of the financial statements and are classified as Level 1 within the fair value hierarchy. Except as described above, FS/EIG Advisor typically values the Company’s other investments by using the midpoint of the prevailing bid and ask prices from dealers on the date of the relevant period end, which are provided by an independent third-party pricing service and screened for validity by such service and are typically classified as Level 2 within the fair value hierarchy. In determining the fair values of swap contracts, FS/EIG Advisor utilized an industry-standard pricing model that considers various inputs including quoted forward prices for commodities, time value and current market and contractual prices for the underlying instruments. These assumptions are observable in the marketplace or can be corroborated by active markets or broker quotes and are typically classified as Level 2 within the fair value hierarchy . FS/EIG Advisor periodically benchmarks the bid and ask prices it receives from the third-party pricing service and/or dealers and independent valuation firms, as applicable, against the actual prices at which the Company purchases and sells its investments. Based on the results of the benchmark analysis and the experience of the Company’s management in purchasing and selling these investments, FS/EIG Advisor believes that these prices are reliable indicators of fair value. FS/EIG Advisor reviewed the valuation determinations made with respect to these investments in a manner consistent with FS/EIG Advisor’s valuation policy. The following is a reconciliation for the six months ended June 30, 2023 and 2022 of investments for which significant unobservable inputs (Level 3) were used in determining fair value: For the Six Months Ended June 30, 2023 Senior Secured Loans—First Lien Senior Secured Loans—Second Lien Senior Secured Bonds Unsecured Debt Preferred Equity Sustainable Infrastructure Investments, LLC Equity/Other Total Fair value at beginning of period $ 443,245 $ 143,270 $ 10,074 $ 54,374 $ 400,414 $ 51,098 $ 491,730 $ 1,594,205 Accretion of discount (amortization of premium) 877 218 25 74 1,149 — — 2,343 Net realized gain (loss) (3,431) (52) 2 4 (18,060) — (34,706) (56,243) Net change in unrealized appreciation (depreciation) (12,082) (888) (32) (45) 24,772 (949) (55,704) (44,928) Purchases 24,949 — — — — — 83 25,032 Paid-in-kind interest 9,724 — — 2,107 — — — 11,831 Sales and repayments (65,394) (17,545) (54) (1,000) (106,656) — (39,804) (230,453) Transfers into Level 3 (1) — — — — — — 810 810 Transfers out of Level 3 — — — — — — — — Fair value at end of period $ 397,888 $ 125,003 $ 10,015 $ 55,514 $ 301,619 $ 50,149 $ 362,409 $ 1,302,597 The amount of total gains or losses for the period included in changes in net assets attributable to the change in unrealized gains or losses relating to investments still held at the reporting date $ (14,618) $ (1,039) $ (32) $ (45) $ 8,653 $ (949) $ (85,754) $ (93,784) For the Six Months Ended June 30, 2022 Senior Secured Loans—First Lien Senior Secured Loans—Second Lien Senior Secured Bonds Unsecured Debt Preferred Equity Sustainable Infrastructure Equity/Other Total Fair value at beginning of period $ 414,075 $ 84,083 $ 10,371 $ 104,659 $ 497,288 $ 50,770 $ 460,236 $ 1,621,482 Accretion of discount (amortization of premium) 1,085 125 24 80 2,662 — — 3,976 Net realized gain (loss) (12,192) 446 — (27,729) 270 — 60,903 21,698 Net change in unrealized appreciation (depreciation) 20,588 420 (39) 34,607 (3,519) 1,361 154,688 208,106 Purchases 99,677 110,150 — — — — 45,835 255,662 Paid-in-kind interest 7,901 537 — 3,843 188 — — 12,469 Sales and repayments (117,681) (18,577) — (47,571) (21,812) — (129,505) (335,146) Transfers into Level 3 (1) 58,705 — — — — — — 58,705 Transfers out of Level 3 — — — — — — — — Fair value at end of period $ 472,158 $ 177,184 $ 10,356 $ 67,889 $ 475,077 $ 52,131 $ 592,157 $ 1,846,952 The amount of total gains or losses for the period included in changes in net assets attributable to the change in unrealized gains or losses relating to investments still held at the reporting date $ 10,826 $ 643 $ (39) $ (80) $ (3,519) $ 1,361 $ 168,303 $ 177,495 ______________ (1) Changes in inputs or methodologies used for valuing investments may result in transfers into or out of levels within the fair value hierarchy. Transfers between levels of the fair value hierarchy are deemed to have occurred at the beginning of the reporting period. For the six months ended June 30, 2023 and 2022, transfers into Level 3 were due to decreased price transparency. The valuation techniques and significant unobservable inputs used in recurring Level 3 fair value measurements as of June 30, 2023 and December 31, 2022 were as follows: Type of Investment Fair Value at June 30, 2023 (Unaudited) Valuation Technique (1) Unobservable Input Range Weighted Senior Secured Loans—First Lien $ 389,381 Market Comparables Market Yield (%) 8.5%-21.5% 13.4% EBITDA Multiples (x) 4.6x-7.2x 5.3x 8,507 Discounted Cash Flow Discount Rate (%) 9.5%-14.5% 12.0% Senior Secured Loans—Second Lien 125,003 Market Comparables Market Yield (%) 10.8%-14.3% 12.5% Senior Secured Bonds 10,015 Market Comparables Market Yield (%) 7.0%-8.0% 7.5% Unsecured Debt 18,289 Market Comparables Market Yield (%) 11.0%-12.0% 11.5% 37,225 Other (2) Preferred Equity 301,619 Market Comparables Market Yield (%) 9.3%-26.0% 18.1% EBITDA Multiples (x) 11.3x-12.3x 11.8x Net Aircraft Book Value Multiple (x) 1.0x-1.0x 1.0x Sustainable Infrastructure Investments, LLC 50,149 Discounted Cash Flow Discount Rate (%) 14.0%-15.0% 14.5% Equity/Other 322,357 Market Comparables EBITDA Multiples (x) 2.6x-12.3x 5.5x Production Multiples (Mboe/d) $27,835.0-$31,335.0 $29,573.0 Proved Reserves Multiples (Mmboe) $5.8-$6.5 $6.2 Production Multiples (MMcfe/d) $2,500.0-$3,100.0 $2,800.0 Proved Reserves Multiples (Bcfe) 0.6x-0.6x 0.6x PV-10 Multiples (x) 0.3x-0.9x 0.8x 8,597 Discounted Cash Flow Discount Rate (%) 8.0%-34.0% 15.4% 7,100 Option Valuation Model Volatility (%) 27.4%-65.0% 40.6% 24,355 Other (2) Total $ 1,302,597 Type of Investment Fair Value at Valuation Technique (1) Unobservable Input Range Weighted Senior Secured Loans—First Lien $ 413,268 Market Comparables Market Yield (%) 8.5%-21.8% 12.3% EBITDA Multiples (x) 5.0x-7.5x 6.3x 29,977 Discounted Cash Flow Discount Rate (%) 11.5%-19.5% 15.4% Senior Secured Loans—Second Lien 143,270 Market Comparables Market Yield (%) 10.3%-14.3% 11.8% Senior Secured Bonds 10,074 Market Comparables Market Yield (%) 6.9%-7.9% 7.4% Unsecured Debt 19,256 Market Comparables Market Yield (%) 10.3%-11.3% 10.8% 35,118 Other (2) Preferred Equity 316,767 Market Comparables Market Yield (%) 8.8%-30.3% 19.0% EBITDA Multiples (x) 9.5x-10.5x 10.0x Net Aircraft Book Value Multiple (x) 1.0x-1.0x 1.0x 83,647 Discounted Cash Flow Discount Rate (%) 11.3%-12.3% 11.8% Sustainable Infrastructure Investments, LLC 51,098 Discounted Cash Flow Discount Rate (%) 13.5%-14.5% 14.0% Equity/Other 481,623 Market Comparables EBITDA Multiples (x) 1.8x-10.5x 5.4x Production Multiples (Mboe/d) $27,946.0-$37,500.0 $30,265.3 Proved Reserves Multiples (Mmboe) $6.9-$10.3 $7.6 Production Multiples (MMcfe/d) $3,400.0-$3,700.0 $3,550.0 Proved Reserves Multiples (Bcfe) 0.8x-0.9x 0.8x PV-10 Multiples (x) 0.5x-0.9x 0.8x 2,488 Discounted Cash Flow Discount Rate (%) 8.0%-33.0% 23.8% 5,734 Option Valuation Model Volatility (%) 31.5%-55.1% 36.6% 1,885 Other (2) Total $ 1,594,205 ______________ (1) For investments utilizing a market comparables valuation technique, a significant increase (decrease) in the market yield, in isolation, would result in a significantly lower (higher) fair value measurement, and a significant increase (decrease) in any of the valuation multiples, in isolation, would result in a significantly higher (lower) fair value measurement. For investments utilizing a discounted cash flow valuation technique, a significant increase (decrease) in the discount rate, in isolation, would result in a significantly lower (higher) fair value measurement. For investments utilizing an option valuation model valuation technique, a significant increase (decrease) in the volatility, in isolation, would result in a significantly higher (lower) fair value measurement. (2) Fair valued based on expected outcome of proposed corporate transactions, the expected value of the liquidation preference of the investment or other factors. |
Financing Arrangements
Financing Arrangements | 6 Months Ended |
Jun. 30, 2023 | |
Debt Disclosure [Abstract] | |
Financing Arrangements | Financing Arrangements The following table presents a summary of information with respect to the Company’s outstanding financing arrangements as of December 31, 2022. As of June 30, 2023, the Company had no outstanding financing arrangements. For additional information regarding these financing arrangements, see the notes to the Company’s audited consolidated financial statements contained in its annual report on Form 10-K for the year ended December 31, 2022. Any significant changes to the Company’s financing arrangements during the six months ended June 30, 2023 are discussed below. As of December 31, 2022 Arrangement (1) Type of Arrangement Rate (2) Amount Amount Maturity Date JPMorgan Facility Term Loan L+3.00% $ 305,676 $ — February 16, 2023 (4) Senior Secured Notes (3) Bond 7.50% 457,075 — August 15, 2023 (5) Total $ 762,751 $ — ______________________ (1) The carrying amount outstanding under the facility approximates its fair value, unless otherwise noted. (2) LIBOR is subject to a 0.00% floor. (3) As of December 31, 2022 , the fair value of the Senior Secured Notes was approximately $458,908. This valuation is considered a Level 2 valuation within the fair value hierarchy. (4) On February 14, 2023, the Company repaid and terminated the JPMorgan Facility. (5) On May 15, 2023, the Company redeemed 100% of the issued and outstanding Senior Secured Notes at a price equal to 100% of the aggregate principal amount, plus the accrued but unpaid interest through to, but excluding, May 15, 2023. For the six months ended June 30, 2023 and 2022, the components of total interest expense for the Company's financing arrangements were as follows: Six Months Ended 2023 2022 Arrangement (1) Direct Interest Expense (2) Amortization of Deferred Financing Costs and Discount Total Interest Expense Direct Interest Expense (2) Amortization of Deferred Financing Costs and Discount Total Interest Expense JPMorgan Facility (3) $ 2,790 $ 238 $ 3,028 $ 5,364 $ 1,365 $ 6,729 Senior Secured Notes (4) 12,760 2,540 15,300 17,808 2,353 20,161 Total $ 15,550 $ 2,778 $ 18,328 $ 23,172 $ 3,718 $ 26,890 ___________________ (1) Borrowings of each of the Company's wholly-owned special-purpose financing subsidiaries are considered borrowings of the Company for purposes of complying with the asset coverage requirements applicable to BDCs under the 1940 Act. (2) Direct interest expense includes the effect of non-usage fees, administration fees and make-whole fees, if any. (3) On February 14, 2023, the Company repaid and terminated the JPMorgan Facility. (4) On May 15, 2023, the Company redeemed 100% of the issued and outstanding Senior Secured Notes at a price equal to 100% of the aggregate principal amount, plus the accrued but unpaid interest through to, but excluding, May 15, 2023. The Company’s average borrowings and weighted average interest rate for the period from January 1, 2023 to May, 15, 2023, the date on which the Company redeemed 100% of the issued and outstanding Senior Secured Notes, were $557,446 and 7.49%, respectively. As of June 30, 2023, the Company had no outstanding borrowings. The Company’s average borrowings and weighted average interest rate, including the effect of non-usage fees, for the six months ended June 30, 2022 were $774,853 and 6.90%, respectively. As of June 30, 2022, the Company’s effective interest rate on borrowings was 6.34%. Under its financing arrangements, the Company made certain representations and warranties and was required to comply with various covenants, reporting requirements and other customary requirements for similar financing arrangements. The Company was in compliance with all covenants required by its financing arrangements, if any, as of May 15, 2023 (the date that the Company redeemed 100% of the issued and outstanding Senior Secured Notes at a price equal to 100% of the aggregate principal amount) and December 31, 2022. JPMorgan Facility On August 16, 2018, the Company entered into that certain Senior Secured Credit Agreement, by and among the Company, the lenders party thereto, JPMorgan Chase Bank, N.A., or JPMorgan, as administrative agent and collateral agent, and the other parties signatory thereto, or as amended, the JPMorgan Facility. On February 14, 2023, the Company repaid and terminated the JPMorgan Facility. Prior to the termination of the JPMorgan Facility, $305,676 aggregate principal amount of loans were outstanding to the Company and such loans accrued interest at a rate equal to LIBOR (subject to a 0.00% floor) plus 3.00% per annum. The Company incurred certain customary costs and expenses in connection with the termination of the JPMorgan Facility. 7.500% Senior Secured Notes due 2023 On August 16, 2018, the Company, U.S. Bank National Association, or U.S Bank, as trustee, and certain subsidiaries of the Company, entered into an Indenture relating to the Company’s issuance of $500,000 aggregate principal amount of its 7.500% Senior Secured Notes due 2023, or the Senior Secured Notes. On May 15, 2023, the Company redeemed 100% of the issued and outstanding Senior Secured Notes at a price equal to 100% of the aggregate principal amount, plus the accrued but unpaid interest through to, but excluding, May 15, 2023 . The Company incurred certain customary costs and expenses in connection with the redemption of the Senior Secured Notes. |
Commitment and Contingencies
Commitment and Contingencies | 6 Months Ended |
Jun. 30, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies The Company enters into contracts that contain a variety of indemnification provisions. The Company’s maximum exposure under these arrangements is unknown; however, the Company has not had prior claims or losses pursuant to these contracts. FS/EIG Advisor has reviewed the Company’s existing contracts and expects the risk of loss to the Company to be remote. The Company is not currently subject to any material legal proceedings and, to the Company’s knowledge, no material legal proceedings are threatened against the Company. From time to time, the Company may be a party to certain legal proceedings in the ordinary course of business, including proceedings relating to the enforcement of the Company’s rights under contracts with its portfolio companies. While the outcome of any legal proceedings cannot be predicted with certainty, the Company does not expect that any such proceedings will have a material effect upon its financial condition or results of operations. See Note 4 for a discussion of the Company’s commitments to FS/EIG Advisor and its affiliates (including FS Investments) and Note 7 for a discussion of the Company’s unfunded commitments. |
Financial Highlights
Financial Highlights | 6 Months Ended |
Jun. 30, 2023 | |
Investment Company [Abstract] | |
Financial Highlights | Financial Highlights The following is a schedule of financial highlights of the Company for the six months ended June 30, 2023 and the year ended December 31, 2022: Six Months Ended (Unaudited) Year Ended December 31, 2022 Per Share Data: (1) Net asset value, beginning of period $ 3.88 $ 3.59 Results of operations (2) Net investment income 0.09 0.16 Net realized gain (loss) and unrealized appreciation (depreciation) (0.21) 0.25 Net increase (decrease) in net assets resulting from operations (0.12) 0.41 Shareholder distributions (3) Distributions from net investment income (0.06) (0.12) Net decrease in net assets resulting from shareholder distributions (0.06) (0.12) Capital share transactions Issuance of common shares (4) — — Net increase (decrease) in net assets resulting from capital share transactions — — Net asset value, end of period $ 3.70 $ 3.88 Shares outstanding, end of period 454,129,547 451,465,673 Total return (5) (3.13) % 11.39 % Total return (without assuming reinvestment of distributions) (5) (3.09) % 11.29 % Ratio/Supplemental Data: Net assets, end of period $ 1,679,723 $ 1,753,748 Ratio of net investment income to average net assets (6)(7) 4.46 % 4.02 % Ratio of total operating expenses to average net assets (6) 5.25 % 6.78 % Ratio of management fee offset to average net assets (6) (0.02) % (0.15) % Ratio of net operating expenses to average net assets (6) 5.23 % 6.63 % Ratio of interest expense to average net assets (6) 2.10 % 3.21 % Portfolio turnover (8) 5.11 % 16.15 % Total amount of senior securities outstanding, exclusive of treasury securities — $ 762,751 Asset coverage per unit (9) — 3.30 _________________________ (1) Per share data may be rounded in order to recompute the ending net asset value per share. (2) The per share data was derived by using the weighted average shares outstanding during the applicable period. (3) The per share data for distributions reflects the actual amount of distributions paid per share during the applicable period. (4) The issuance of common shares on a per share basis reflects the incremental net asset value changes as a result of the issuance of common shares pursuant to the Company’s distribution reinvestment plan. The issuance of common shares at a price that is greater than the net asset value per share results in an increase in net asset value per share. (5) The total return for each period presented was calculated based on the change in net asset value during the applicable period, including the impact of distributions reinvested in accordance with the Company’s distribution reinvestment plan. The total return (without assuming reinvestment of distributions) for each period presented was calculated by taking the net asset value per share as of the end of the applicable period, adding the cash distributions per share which were declared during the applicable period and dividing the total by the net asset value per share at the beginning of the applicable period. The total returns do not consider the effect of any sales commissions or charges that may be incurred in connection with the sale of the Company’s common shares. The total returns include the effect of the issuance of common shares at a net offering price that is greater than net asset value per share, which causes an increase in net asset value per share. The historical calculations of total returns in the table should not be considered representations of the Company’s future total returns, which may be greater or less than the returns shown in the table due to a number of factors, including the Company’s ability or inability to make investments in companies that meet its investment criteria, the interest rates payable on the debt securities the Company acquires, the level of the Company’s expenses, variations in and the timing of the recognition of realized and unrealized gains or losses, the degree to which the Company encounters competition in its markets and general economic conditions. As a result of these factors, results for any previous period should not be relied upon as being indicative of performance in future periods. The total return calculations set forth above represent the total returns on the Company’s investment portfolio during the applicable period and do not represent actual returns to shareholders. (6) Weighted average net assets during the applicable period are used for this calculation. Ratios for the six months ended June 30, 2023 are annualized. Annualized ratios for the six months ended June 30, 2023 are not necessarily indicative of the ratios that may be expected for the year ending December 31, 2023. (7) If FS/EIG Advisor had not agreed to offset the amount of any structuring, upfront or certain other fees it or its members received against the management fee payable by the Company, the ratio of net investment income to average net assets would have been 4.44% and 3.87% for the six months ended June 30, 2023 and the year ended December 31, 2022, respectively. See Note 4 for a discussion of the management fee offset with FS/EIG Advisor. (8) Portfolio turnover for the six months ended June 30, 2023 is not annualized. (9) Asset coverage per unit is the ratio of the carrying value of the Company’s total consolidated assets, less liabilities and indebtedness not represented by senior securities, to the aggregate amount of senior securities representing indebtedness. On February 14, 2023, the Company repaid and terminated the JPMorgan Facility. On May 15, 2023, the Company redeemed 100% of the issued and outstanding Senior Secured Notes at a price equal to 100% of the aggregate principal amount, plus the accrued but unpaid interest through to, but excluding, May 15, 2023. |
N-2
N-2 - $ / shares | 6 Months Ended | ||
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Cover [Abstract] | |||
Entity Central Index Key | 0001501729 | ||
Amendment Flag | false | ||
Securities Act File Number | 814-00841 | ||
Document Type | 10-Q | ||
Entity Registrant Name | FS Energy and Power Fund | ||
Entity Address, Address Line One | 201 Rouse Boulevard | ||
Entity Address, City or Town | Philadelphia | ||
Entity Address, State or Province | PA | ||
Entity Address, Postal Zip Code | 19112 | ||
City Area Code | 215 | ||
Local Phone Number | 495-1150 | ||
Entity Emerging Growth Company | false | ||
General Description of Registrant [Abstract] | |||
Investment Objectives and Practices [Text Block] | Our investment objective is to generate current income and long-term capital appreciation. We pursue our investment objective by focusing on the following seven investment themes: (i) basin-on-basin competition in U.S. shale, (ii) globalization of natural gas, (iii) coal retirements and the evolving energy generation mix, (iv) renewables focused on power grid parity, (v) export infrastructure for emerging U.S. producers, (vi) market liberalization opening new markets and (vii) midstream infrastructure connecting new supplies. However, we may pursue other investment opportunities if we believe it is in our best interests and consistent with our investment objectives. Within the above investment themes, we intend to focus on the following investment categories in an effort to generate returns for our investors with an acceptable level of risk. Direct Originations : Through FS/EIG Advisor, we intend to directly source investment opportunities across the Energy industry. Such investments are typically originated and structured through a negotiated process in which we directly participate and are not generally available to the broader market. These investments may include both debt and equity components. We believe directly originated investments may offer higher returns and more favorable protections than broadly syndicated transactions. Broadly Syndicated Loan and Bond Transactions : Although our primary focus is to invest in directly originated transactions, in certain circumstances we will also invest in the broadly syndicated loan and high yield bond markets. Broadly syndicated loans and bonds are generally more liquid than our directly originated investments and provide a complement to our less liquid strategies. In the case of broadly syndicated investments, we generally intend to capitalize on market inefficiencies by investing in loans, bonds, and other asset classes where the market price of such investment reflects a lower value than we believe is warranted based on our fundamental analysis, providing us with an opportunity to earn an attractive return on our investment. The majority of our portfolio is comprised of income-oriented securities, which principally refers to debt securities and income-oriented preferred and common equity interests, of privately-held Energy companies within the United States. Generally, w e expect to invest primarily in directly originated investments and primary market transactions, as this will provide us with the ability to tailor investments to best match a project’s or company’s needs with our investment objectives. We intend to weight our portfolio towards senior secured debt and directly originated preferred equity investments, which we believe offer opportunities for superior risk-adjusted returns and income generation. Our debt investments may take the form of corporate or project loans or bonds, may be secured or unsecured and may, in some cases, be accompanied by yield enhancements. These yield enhancements are typically expected to include royalty interests in mineral, oil and gas properties, warrants, options, net profits interests, cash flow participations or other forms of equity participation that can provide additional consideration or “upside” in a transaction. Our preferred equity investments are mostly directly originated and may take the form of perpetual or redeemable securities, typically with a current income component and minimum base returns. In addition, certain income-oriented preferred or common equity interests may include interests in master limited partnerships and a portion of our portfolio may be comprised of derivatives, including the use of total return swaps, credit default swaps and other commodity swap contracts. In connection with certain of our debt investments or any restructuring of these debt investments, we may on occasion receive equity interests, including warrants or options, as additional consideration or otherwise in connection with a restructuring. FS/EIG Advisor will seek to tailor our investment focus as market conditions evolve. On May 15, 2023, we announced that the Company's board of trustees approved our transition from an investment policy of investing primarily in private U.S. energy and power companies to a diversified credit investment policy of investing across private and public credit in a broader set of industries, sectors and sub-sectors. In July 2023, we commenced sending to our shareholders a regulatory notice notifying them of the investment policy change and that such change will be effective September 29, 2023 . During the notice period, we expect to begin transitioning the Company’s portfolio holdings away from investments in the energy sector, while remaining in compliance with the Company’s current investment strategy which permits the Company to invest up to 20% of its assets in non-energy related investments. Our future financial condition, results of operations and cash flows may be impacted by the transition to a new investment policy. See “Item 5. Other Information—Company Name, Investment Objective and Investment Policy.” | ||
Risk Factors [Table Text Block] | Item 1A. Risk Factors. In addition to the other information set forth in this Quarterly Report on Form 10-Q, you should carefully consider the risk factors that appeared under Item 1A. “Risk Factors” in our most recent Annual Report on Form 10-K, as supplemented by our Quarterly Report on Form 10-Q for the quarter ended March 31, 2023. There are no material changes from the risk factors included within our most recent Annual Report on Form 10-K, as supplemented by our Quarterly Report on Form 10-Q for the quarter ended March 31, 2023, other than the risks described below. We are exposed to risks associated with changes in interest rates. Because we intend to use debt to finance investments, our net investment income will depend, in part, upon the difference between the rate at which we borrow funds and the rate at which we invest those funds. As a result, we can offer no assurance that a significant change in market interest rates will not have a material adverse effect on our net investment income. The recent increases in interest rates will make it more expensive to use debt to finance our investments. In periods of rising interest rates when we have debt outstanding, our cost of funds will increase, which could reduce our net investment income. We expect that our long-term fixed-rate investments will be financed primarily with equity and long-term debt. We may use interest rate risk management techniques in an effort to limit our exposure to interest rate fluctuations. These techniques may include various interest rate hedging activities to the extent permitted by the 1940 Act. Adverse developments resulting from changes in interest rates or hedging transactions could have a material adverse effect on our business, financial condition and results of operations. Also, we have limited experience in entering into hedging transactions, and we will initially have to develop such expertise or arrange for such expertise to be provided. We have and may continue to structure the majority of our debt investments with floating interest rates to position our portfolio for rate increases. However, there can be no assurance that this will successfully mitigate our exposure to interest rate risk. For example, in rising interest rate environments, payments under floating rate debt instruments generally would rise and there may be a significant number of issuers of such floating rate debt instruments that would be unable or unwilling to pay such increased interest costs and may otherwise be unable to repay their loans. Rising interest rates could also cause portfolio companies to shift cash from other productive uses to the payment of interest, which may have a material adverse effect on their business and operations and could, over time, lead to increased defaults. Investments in floating rate debt instruments may also decline in value in response to rising interest rates if the interest rates of such investments do not rise as much, or as quickly, as market interest rates in general. Similarly, during periods of rising interest rates, our fixed rate investments may decline in value because the fixed rate of interest paid thereunder may be below market interest rates. Some investments in the portfolio utilize floating rate benchmarks such as LIBOR or SOFR. LIBOR, the London Interbank Offered Rate, was a leading floating rate benchmark used in loans, notes, derivatives and other instruments or investments. As a result of benchmark reforms, publication of most LIBOR settings has ceased. Some LIBOR settings continue to be published but only on a temporary, synthetic and non-representative basis. Regulated entities have generally ceased entering into new LIBOR contracts in connection with regulatory guidance or prohibitions. Public and private sector actors have worked to establish new or alternative reference rates to be used in place of LIBOR. The U.S. Federal Reserve, in conjunction with the Alternative Reference Rates Committee, a steering committee comprised of large U.S. financial institutions, supports replacing U.S.-dollar LIBOR with the Secured Overnight Financing Rate, or SOFR, a new index calculated by short-term repurchase agreements backed by Treasury securities. Prohibitions and requirements with respect to floating rate benchmarks may adversely affect the value of floating-rate debt securities in our portfolio. While SOFR appears to be the preferred replacement for U.S. dollar LIBOR, it is not possible to predict whether SOFR will ultimately prevail in the market as the definitive replacement for LIBOR. The transition away from LIBOR and other current reference rates to alternative reference rates is complex and could have a material adverse effect on our business, financial condition and results of operations, including as a result of any changes in the pricing of our investments, changes to the documentation for certain of our investments and the pace of such changes, disputes and other actions regarding the interpretation of current and prospective loan documentation or modifications to processes and systems. Furthermore, a rise in the general level of interest rates can be expected to lead to higher interest rates applicable to our debt investments. Accordingly, an increase in interest rates would make it easier for us to meet or exceed the incentive fee hurdle rate and may result in a substantial increase of the amount of incentive fees payable to FS/EIG Advisor with respect to pre-incentive fee net investment income. | ||
NAV Per Share | $ 3.70 | $ 3.88 | $ 3.59 |
Changes In Interest Rates [Member] | |||
General Description of Registrant [Abstract] | |||
Risk [Text Block] | We are exposed to risks associated with changes in interest rates. Because we intend to use debt to finance investments, our net investment income will depend, in part, upon the difference between the rate at which we borrow funds and the rate at which we invest those funds. As a result, we can offer no assurance that a significant change in market interest rates will not have a material adverse effect on our net investment income. The recent increases in interest rates will make it more expensive to use debt to finance our investments. In periods of rising interest rates when we have debt outstanding, our cost of funds will increase, which could reduce our net investment income. We expect that our long-term fixed-rate investments will be financed primarily with equity and long-term debt. We may use interest rate risk management techniques in an effort to limit our exposure to interest rate fluctuations. These techniques may include various interest rate hedging activities to the extent permitted by the 1940 Act. Adverse developments resulting from changes in interest rates or hedging transactions could have a material adverse effect on our business, financial condition and results of operations. Also, we have limited experience in entering into hedging transactions, and we will initially have to develop such expertise or arrange for such expertise to be provided. We have and may continue to structure the majority of our debt investments with floating interest rates to position our portfolio for rate increases. However, there can be no assurance that this will successfully mitigate our exposure to interest rate risk. For example, in rising interest rate environments, payments under floating rate debt instruments generally would rise and there may be a significant number of issuers of such floating rate debt instruments that would be unable or unwilling to pay such increased interest costs and may otherwise be unable to repay their loans. Rising interest rates could also cause portfolio companies to shift cash from other productive uses to the payment of interest, which may have a material adverse effect on their business and operations and could, over time, lead to increased defaults. Investments in floating rate debt instruments may also decline in value in response to rising interest rates if the interest rates of such investments do not rise as much, or as quickly, as market interest rates in general. Similarly, during periods of rising interest rates, our fixed rate investments may decline in value because the fixed rate of interest paid thereunder may be below market interest rates. Some investments in the portfolio utilize floating rate benchmarks such as LIBOR or SOFR. LIBOR, the London Interbank Offered Rate, was a leading floating rate benchmark used in loans, notes, derivatives and other instruments or investments. As a result of benchmark reforms, publication of most LIBOR settings has ceased. Some LIBOR settings continue to be published but only on a temporary, synthetic and non-representative basis. Regulated entities have generally ceased entering into new LIBOR contracts in connection with regulatory guidance or prohibitions. Public and private sector actors have worked to establish new or alternative reference rates to be used in place of LIBOR. The U.S. Federal Reserve, in conjunction with the Alternative Reference Rates Committee, a steering committee comprised of large U.S. financial institutions, supports replacing U.S.-dollar LIBOR with the Secured Overnight Financing Rate, or SOFR, a new index calculated by short-term repurchase agreements backed by Treasury securities. Prohibitions and requirements with respect to floating rate benchmarks may adversely affect the value of floating-rate debt securities in our portfolio. While SOFR appears to be the preferred replacement for U.S. dollar LIBOR, it is not possible to predict whether SOFR will ultimately prevail in the market as the definitive replacement for LIBOR. The transition away from LIBOR and other current reference rates to alternative reference rates is complex and could have a material adverse effect on our business, financial condition and results of operations, including as a result of any changes in the pricing of our investments, changes to the documentation for certain of our investments and the pace of such changes, disputes and other actions regarding the interpretation of current and prospective loan documentation or modifications to processes and systems. Furthermore, a rise in the general level of interest rates can be expected to lead to higher interest rates applicable to our debt investments. Accordingly, an increase in interest rates would make it easier for us to meet or exceed the incentive fee hurdle rate and may result in a substantial increase of the amount of incentive fees payable to FS/EIG Advisor with respect to pre-incentive fee net investment income. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2023 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation: The accompanying unaudited consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America, or GAAP, for interim financial information and with the instructions for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. For a more complete discussion of significant accounting policies and certain other information, the Company’s interim unaudited consolidated financial statements should be read in conjunction with its audited consolidated financial statements as of and for the year ended December 31, 2022 included in the Company’s annual report on Form 10-K. Operating results for the six months ended June 30, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. The December 31, 2022 consolidated balance sheet and consolidated schedule of investments are derived from the Company's audited consolidated financial statements as of and for the year ended December 31, 2022. The Company is considered an investment company under GAAP and follows the accounting and reporting guidance applicable to investment companies under Accounting Standards Codification Topic 946, Financial Services—Investment Companies. The Company has evaluated the impact of subsequent events through the date the unaudited consolidated financial statements were issued and filed with the Securities and Exchange Commission, or the SEC. |
Use of Estimates | Use of Estimates: The preparation of the unaudited consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Many of the amounts have been rounded, and all amounts are in thousands, except share and per share amounts. |
Capital Gains Incentive Fee and Subordinated Income Incentive Fee | Capital Gains Incentive Fee: Pursuant to the terms of the FS/EIG investment advisory agreement, the incentive fee on capital gains is determined and payable in arrears as of the end of each calendar year (or upon termination of such agreement). Such fee equals 20.0% of the Company’s “incentive fee capital gains,” which are the Company’s realized capital gains on a cumulative basis from inception, calculated as of the end of the applicable period, computed net of all realized capital losses and unrealized capital depreciation on a cumulative basis, less the aggregate amount of any previously paid incentive fees on capital gains. The Company will accrue for the incentive fee on capital gains, which, if earned, will be paid annually. The Company will accrue the incentive fee on capital gains based on net realized and unrealized gains; however, the fee payable to FS/EIG Advisor will be based on realized Subordinated Income Incentive Fee: |
Reclassifications | Reclassifications: Certain amounts in the unaudited consolidated financial statements for the six months ended June 30, 2022 may have been reclassified to conform to the classifications used to prepare the unaudited consolidated financial statements for the six months ended June 30, 2023 |
Revenue Recognition | Revenue Recognition: Security transactions are accounted for on the trade date. The Company records interest income on an accrual basis to the extent that it expects to collect such amounts. The Company records dividend income on the ex-dividend date. Distributions received from limited liability company, or LLC, and limited partnership, or LP, investments are evaluated to determine if the distribution should be recorded as dividend income or a return of capital. The Company does not accrue as a receivable interest or dividends on loans and securities if it has reason to doubt its ability to collect such income. The Company’s policy is to place investments on non-accrual status when there is reasonable doubt that interest income will be collected. The Company considers many factors relevant to an investment when placing it on or removing it from non-accrual status including, but not limited to, the delinquency status of the investment, economic and business conditions, the overall financial condition of the underlying investment, the value of the underlying collateral, bankruptcy status, if any, and any other facts or circumstances relevant to the investment. If there is reasonable doubt that the Company will receive any previously accrued interest, then the accrued interest will be written-off. Payments received on non-accrual investments may be recognized as income or applied to principal depending upon the collectability of the remaining principal and interest. Non-accrual investments may be restored to accrual status when principal and interest become current and are likely to remain current based on the Company’s judgment. |
Net Realized Gains or Realized Losses on Extinguishment of Debt | Net Realized Gains or Realized Losses on Extinguishment of Debt: Upon the repayment of debt obligations which are deemed to be extinguishments, the difference between the principal amount due at maturity and the amount repaid on the extinguishment of debt is recognized as a gain or loss. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements: In March 2020, the FASB issued Accounting Standards Update No. 2020-04, Reference Rate Reform (Topic 848) , or ASU 2020-04, which provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The a mendments apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. In January 2021, the FASB issued Accounting Standards Update No. 2021-01, Reference Rate Reform (Topic 848) , or ASU 2021-01, which expanded the scope of Topic 848 to include derivative instruments impacted by discounting transition. ASU 2020-04 and ASU 2021-01 are effective for all entities through December 31, 2022. The expedients and exceptions provided by the amendments do not apply to contract modifications and hedging relationships entered into or evaluated after December 31, 2022, except for hedging transactions as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. In December 2022, the FASB issued Accounting Standards Update No. 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 , or ASU 2022-06, which deferred the sunset date of this guidance to December 31, 2024. The Company is currently evaluating the impact of this guidance on its consolidated financial statements. |
Share Transactions (Tables)
Share Transactions (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Equity [Abstract] | |
Schedule of Common Stock Transactions | Below is a summary of transactions with respect to the Company’s common shares during the six months ended June 30, 2023 and 2022: Six Months Ended 2023 2022 Shares Amount Shares Amount Reinvestment of Distributions 2,663,874 $ 10,388 2,741,168 $ 10,460 Proceeds from Share Transactions 2,663,874 $ 10,388 2,741,168 $ 10,460 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Related Party Transactions [Abstract] | |
Schedule of the Fees and Expenses Accrued Under Investment Advisory Agreement | The following table describes the fees and expenses accrued under the FS/EIG investment advisory agreement during the three and six months ended June 30, 2023 and 2022: Three Months Ended Six Months Ended Related Party Source Agreement Description 2023 2022 2023 2022 FS/EIG Advisor FS/EIG investment advisory agreement Base Management Fee (1) $ 8,686 $ 9,576 $ 18,905 $ 19,613 FS/EIG Advisor FS/EIG investment advisory agreement Administrative Services Expenses (2) $ 1,359 $ 1,490 $ 2,679 $ 2,910 _________________________ (1) During the six months ended June 30, 2023 and 2022, $21,404 and $20,503, respectively, in base management fees were paid to FS/EIG Advisor. The base management fee amount shown in the table above is shown net of $19 and $1,700 in structuring, upfront or certain other fees received by FS/EIG Advisor or its members and offset against base management fees for the three months ended June 30, 2023 and 2022, respectively, and $274 and $2,398 in structuring, upfront or certain other fees received by FS/EIG Advisor or its members and offset against base management fees for the six months ended June 30, 2023 and 2022, respectively. As of June 30, 2023 , $8,686 in base management fees were payable to FS/EIG Advisor. (2) During the six months ended June 30, 2023 and 2022, $1,649 and $1,372, respectively, of the accrued administrative services expenses related to the allocation of costs of administrative personnel for services rendered to the Company by FS/EIG Advisor and the remainder related to other reimbursable expenses. The Company paid $2,933 and $2,234 in administrative services expenses to FS/EIG Advisor, or its affiliates, during the six months ended June 30, 2023 and 2022, respectively. |
Distributions (Tables)
Distributions (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Income Tax Disclosure [Abstract] | |
Schedule of Cash Distributions Paid on Common Stock Including Tax Basis | The following table reflects the cash distributions per share that the Company declared on its common shares during the six months ended June 30, 2023 and 2022: Distribution For the Three Months Ended Per Share Amount Fiscal 2022 March 31, 2022 $ 0.03 $ 13,426 June 30, 2022 0.03 13,465 Total $ 0.06 $ 26,891 Fiscal 2023 March 31, 2023 $ 0.03 $ 13,584 June 30, 2023 0.03 13,624 Total $ 0.06 $ 27,208 The following table reflects the sources of the cash distributions on a tax basis that the Company declared on its common shares during the six months ended June 30, 2023 and 2022: Six Months Ended 2023 2022 Source of Distribution Distribution Amount Percentage Distribution Amount Percentage Net investment income (1) $ 27,208 100 % $ 26,891 100 % Short-term capital gains proceeds from the sale of assets — — — — Long-term capital gains proceeds from the sale of assets — — — — Total $ 27,208 100 % $ 26,891 100 % _________________________ (1) During the six months ended June 30, 2023 and 2022, 82.3% and 80.3%, respectively, of the Company's gross investment income was attributable to cash income earned, 14.0% and 15.0%, respectively, was attributable to paid-in-kind, or PIK, interest and 3.7% and 4.7%, respectively, was attributable to non-cash accretion of discount. |
Financial Instruments (Tables)
Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Derivative Instruments | Below is a summary of the Company's open fixed price swap positions as of June 30, 2023. The hedged volumes reflected below represent an aggregation of multiple derivative contracts that have varying durations and may not be realized on a ratable basis over a calendar year. Swap Contracts—Crude Oil Year Settlement Index Bbls Weighted Average Price 2023 ICE Brent 80,561 $80.00 Swap Contracts—Natural Gas Year Settlement Index MMBtu Weighted Average Price 2023 NYMEX Henry Hub 139,923 $3.80 |
Schedule of Fixed Price Swap Positions | The following table presents the fair value of open swap contracts (which are not considered to be hedging instruments for accounting disclosure purposes) as of June 30, 2023 and December 31, 2022: June 30, 2023 December 31, 2022 Instrument Asset (1) Liability (2) Asset (1) Liability (2) Swap Contracts—Crude Oil $ 399 $ — $ — $ (572) Swap Contracts—Natural Gas 106 — — (126) Total $ 505 $ — $ — $ (698) ______________ (1) Reflected on the Company's consolidated balance sheets as: Unrealized appreciation on swap contracts. (2) Reflected on the Company's consolidated balance sheets as: Unrealized depreciation on swap contracts. |
Schedule of Realized and Unrealized Gain (Loss) on Derivative Instruments | The effect of swap contracts (which are not considered to be hedging instruments for accounting disclosure purposes) on the Company's statements of operations for the six months ended June 30, 2023 and 2022 was as follows: Net Realized Gains (Losses) (1) Net Change in Unrealized (2) Six Months Ended Six Months Ended Instrument 2023 2022 2023 2022 Swap Contracts—Crude Oil $ (18) $ (1,502) $ 971 $ (3,156) Swap Contracts—Natural Gas 244 (306) 232 (432) Total $ 226 $ (1,808) $ 1,203 $ (3,588) ______________ (1) Reflected on the Company's consolidated statements of operations as: Net realized gain (loss) on swap contracts. (2) Reflected on the Company's consolidated statements of operations as: Net change in unrealized appreciation (depreciation) on swap contracts. |
Schedule of Offsetting Liabilities | The following tables present the Company’s derivative assets and liabilities by counterparty, net of amounts available for offset under a master netting agreement as of June 30, 2023 and December 31, 2022: As of June 30, 2023 Counterparty Derivative Assets Derivative Liabilities Net Value of Derivatives Non-Cash Collateral (Received) Pledged (1) Cash Collateral (Received) Pledged (1) Net Amount of Derivative Assets (Liabilities) (2) BP Energy Co. $ 505 — $ 505 — — $ 505 As of December 31, 2022 Counterparty Derivative Assets Derivative Liabilities Net Value of Derivatives Non-Cash Collateral (Received) Pledged (1) Cash Collateral (Received) Pledged (1) Net Amount of Derivative Assets (Liabilities) (2) BP Energy Co. — $ (698) $ (698) — — $ (698) ______________ (1) In some instances, the actual amount of the collateral received and/or pledged may be more than the amount shown due to overcollateralization. (2) Net amount of derivative assets and liabilities represents the net amount due from the counterparty to the Company and the net amount due from the Company to the counterparty, respectively, in the event of default. |
Schedule of Offsetting Assets | The following tables present the Company’s derivative assets and liabilities by counterparty, net of amounts available for offset under a master netting agreement as of June 30, 2023 and December 31, 2022: As of June 30, 2023 Counterparty Derivative Assets Derivative Liabilities Net Value of Derivatives Non-Cash Collateral (Received) Pledged (1) Cash Collateral (Received) Pledged (1) Net Amount of Derivative Assets (Liabilities) (2) BP Energy Co. $ 505 — $ 505 — — $ 505 As of December 31, 2022 Counterparty Derivative Assets Derivative Liabilities Net Value of Derivatives Non-Cash Collateral (Received) Pledged (1) Cash Collateral (Received) Pledged (1) Net Amount of Derivative Assets (Liabilities) (2) BP Energy Co. — $ (698) $ (698) — — $ (698) ______________ (1) In some instances, the actual amount of the collateral received and/or pledged may be more than the amount shown due to overcollateralization. (2) Net amount of derivative assets and liabilities represents the net amount due from the counterparty to the Company and the net amount due from the Company to the counterparty, respectively, in the event of default. |
Investment Portfolio (Tables)
Investment Portfolio (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Schedule of Investments [Abstract] | |
Schedule of Investments | The following table summarizes the composition of the Company’s investment portfolio at cost and fair value as of June 30, 2023 and December 31, 2022: June 30, 2023 December 31, 2022 Amortized Cost (1) Fair Value Percentage Amortized Cost (1) Fair Value Percentage Senior Secured Loans—First Lien $ 531,752 $ 522,029 35 % $ 702,842 $ 706,646 35 % Senior Secured Loans—Second Lien 125,774 125,003 8 % 143,153 143,270 7 % Senior Secured Bonds 24,043 23,954 2 % 10,064 10,074 0 % Unsecured Debt 106,505 106,092 7 % 253,675 241,418 12 % Preferred Equity 301,615 301,619 20 % 425,182 400,414 20 % Sustainable Infrastructure Investments, LLC 54,514 50,149 3 % 54,514 51,098 2 % Equity/Other 262,135 366,756 25 % 333,510 494,195 24 % Total $ 1,406,338 $ 1,495,602 100 % $ 1,922,940 $ 2,047,115 100 % ______________ (1) Amortized cost represents the original cost adjusted for the amortization of premiums and/or accretion of discounts, as applicable, on investments. The table below describes investments by industry classification and enumerates the percentage, by fair value, of the total portfolio assets in such industries as of June 30, 2023 and December 31, 2022: June 30, 2023 December 31, 2022 Industry Classification Fair Value Percentage Fair Value Percentage Energy—Upstream $ 610,146 41 % $ 854,974 42 % Energy—Midstream 465,345 31 % 646,488 32 % Energy—Power 197,789 13 % 386,007 19 % Energy—Service & Equipment 95,968 7 % 96,040 5 % Commercial & Professional Services (1) 17,619 1 % 12,508 0 % Consumer Discretionary Distribution & Retail 16,041 1 % — — Insurance 10,062 1 % — — Health Care Equipment & Services 8,562 1 % — — Consumer Services 7,771 1 % — — Automobiles & Components 6,853 0 % — — Transportation 4,830 0 % — — Consumer Staples Distribution & Retail 4,467 0 % — — Sustainable Infrastructure Investments, LLC (2) 50,149 3 % 51,098 2 % Total $ 1,495,602 100 % $ 2,047,115 100 % _____________________ (1) FS/EIG Advisor monitors the industry classification of the Company’s investments and may from time to time reclassify such investments if it determines such reclassification is appropriate. During the six months ended June 30, 2023, two investments had their industry re-classified from Energy — Industrials to Commercial & Professional Services, and one investment had its industry re-classified from Energy — Service & Equipment to Commercial & Professional Services. (2) Sustainable Infrastructure Investments, LLC is generally comprised of midstream and renewables assets in the Energy sector. |
Schedule of Nonconsolidated Subsidiary Portfolio | Below is a summary of SIIJV's portfolio, followed by a listing of the individual loans in SIIJV's portfolio as of June 30, 2023 and December 31, 2022: June 30, 2023 December 31, 2022 Total investments (1) $ 264,692 $ 274,088 Weighted average current interest rate on debt investments (2) 7.60 % 6.96 % Number of portfolio assets in SIIJV 9 9 Largest investment in a single portfolio company (1) $ 70,610 $ 73,707 _____________________ (1) At cost. (2) Computed as the (a) annual stated interest rate on accruing debt, divided by (b) total debt at par amount. Sustainable Infrastructure Investments, LLC Portfolio As of June 30, 2023 (Unaudited) Portfolio Company (a)(f) Footnotes Energy Industry Rate (b) Maturity Principal (c) Amortized Fair (d) Senior Secured Loans—First Lien—100.0% Alianca Transportadora de Gas Participacoes S.A. Midstream L+285 5/23/27 $ 70,610 $ 70,610 $ 72,560 Blue Heron Intermediate Holdco I, LLC Midstream S+188 4/22/24 31,244 31,244 31,352 Cedar Creek II LLC Renewables S+188 11/18/23 8,160 8,160 8,177 Copper Mountain Solar 3, LLC Renewables S+188 5/31/25 17,105 17,105 17,221 FLNG Liquefaction 2, LLC Midstream S+150 12/31/26 27,375 27,375 27,303 Meikle Wind Energy, LP (e) Renewables C+150 5/12/24 C$ 15,471 11,903 11,611 NES Hercules Class B Member, LLC Renewables S+165 1/31/28 $ 24,317 24,317 24,847 ST EIP Holdco LLC Midstream L+250 11/5/24 58,124 58,124 57,900 Top of the World Wind Energy LLC Renewables S+188 12/1/28 15,854 15,854 16,273 Total Senior Secured Loans—First Lien 264,692 267,244 TOTAL INVESTMENTS—100.0% $ 264,692 $ 267,244 Sustainable Infrastructure Investments, LLC Portfolio As of December 31, 2022 Portfolio Company (a)(f) Footnotes Industry Rate (b) Maturity Principal (c) Amortized Fair (d) Senior Secured Loans—First Lien—100.0% Alianca Transportadora de Gas Participacoes S.A. Midstream L+260 5/23/27 $ 73,707 $ 73,707 $ 74,601 Blue Heron Intermediate Holdco I, LLC Midstream L+188 4/22/24 31,832 31,832 31,885 Cedar Creek II LLC Renewables L+188 11/18/23 8,710 8,710 8,722 Copper Mountain Solar 3, LLC Renewables L+175 5/31/25 17,804 17,804 17,879 FLNG Liquefaction 2, LLC Midstream L+150 12/31/26 28,170 28,170 27,990 Meikle Wind Energy, LP (e) Renewables C+150 5/12/24 C$ 16,030 12,332 11,873 NES Hercules Class B Member, LLC Renewables L+150 1/31/28 $ 24,487 24,487 24,954 ST EIP Holdco LLC Midstream L+250 11/5/24 58,673 58,673 58,288 Top of the World Wind Energy LLC Renewables L+188 12/1/28 18,373 18,373 18,866 Total Senior Secured Loans—First Lien 274,088 275,058 TOTAL INVESTMENTS—100.0% $ 274,088 $ 275,058 _____________________ Percentages are shown as a percentage of total investments. (a) Security may be an obligation of one or more entities affiliated with the named company. (b) Certain variable rate securities in the Company’s portfolio bear interest at a rate determined by a publicly disclosed base rate plus a basis point spread. As of June 30, 2023 and December 31, 2022, the three-month LIBOR, or L , was 5.55% and 4.77%, respectively, the Canadian Dollar Offered Rate, or C , was 5.40% and 4.94%, respectively, and the SOFR, or S, was 5.27% and 4.59%, respectively. (c) Denominated in U.S. dollars unless otherwise noted. (d) Security is classified as Level 3 and fair value is determined in accordance with the Company’s valuation process. (e) Investment denominated in Canadian dollars. Amortized cost and fair value are converted into U.S. dollars as of June 30, 2023 and December 31, 2022. (f) Security or portion thereof is held within Seine Funding and is pledged as collateral supporting the amounts outstanding under the Seine Funding Facility. Below is selected balance sheet information for SIIJV as of June 30, 2023 and December 31, 2022: June 30, 2023 December 31, 2022 Selected Balance Sheet Information Total investments, at fair value $ 267,244 $ 275,058 Cash and other assets 16,037 10,380 Total assets $ 283,281 $ 285,438 Debt $ 206,303 $ 213,583 Other liabilities 4,105 3,358 Total liabilities 210,408 216,941 Member's equity $ 72,873 $ 68,497 Below is selected statement of operations information for SIIJV for the three and six months ended June 30, 2023 and 2022: Three Months Ended Six Months Ended 2023 2022 2023 2022 Selected Statement of Operations Information Total investment income $ 5,013 $ 2,243 $ 9,811 $ 4,073 Expenses Interest expense 3,319 1,178 6,460 2,151 Administrative services 45 40 88 81 Custodian and accounting fees 58 57 103 104 Professional services 50 26 100 51 Other 10 — 20 — Total expenses 3,482 1,301 6,771 2,387 Net investment income 1,531 942 3,040 1,686 Net realized and unrealized gain (loss) (610) (1,316) 1,336 (2,016) Net increase (decrease) in net assets resulting from operations $ 921 $ (374) $ 4,376 $ (330) |
Fair Value of Financial Instr_2
Fair Value of Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value Hierarchy of Investments | As of June 30, 2023 and December 31, 2022, the Company’s investments were categorized as follows in the fair value hierarchy: Valuation Inputs June 30, 2023 December 31, 2022 Level 1—Price quotations in active markets $ 4,347 $ 2,465 Level 2—Significant other observable inputs 188,658 450,445 Level 3—Significant unobservable inputs 1,302,597 1,594,205 Total $ 1,495,602 $ 2,047,115 |
Schedule of Fair Value Hierarchy of Assets and Liabilities | As of June 30, 2023 and December 31, 2022, the Company’s swap contracts were categorized as follows in the fair value hierarchy: June 30, 2023 December 31, 2022 Valuation Inputs Assets Liabilities Assets Liabilities Level 1—Price quotations in active markets $ — $ — $ — $ — Level 2—Significant other observable inputs 505 — — 698 Level 3—Significant unobservable inputs — — — — Total $ 505 $ — $ — $ 698 |
Schedule of Fair Value of Assets Rollforward | The following is a reconciliation for the six months ended June 30, 2023 and 2022 of investments for which significant unobservable inputs (Level 3) were used in determining fair value: For the Six Months Ended June 30, 2023 Senior Secured Loans—First Lien Senior Secured Loans—Second Lien Senior Secured Bonds Unsecured Debt Preferred Equity Sustainable Infrastructure Investments, LLC Equity/Other Total Fair value at beginning of period $ 443,245 $ 143,270 $ 10,074 $ 54,374 $ 400,414 $ 51,098 $ 491,730 $ 1,594,205 Accretion of discount (amortization of premium) 877 218 25 74 1,149 — — 2,343 Net realized gain (loss) (3,431) (52) 2 4 (18,060) — (34,706) (56,243) Net change in unrealized appreciation (depreciation) (12,082) (888) (32) (45) 24,772 (949) (55,704) (44,928) Purchases 24,949 — — — — — 83 25,032 Paid-in-kind interest 9,724 — — 2,107 — — — 11,831 Sales and repayments (65,394) (17,545) (54) (1,000) (106,656) — (39,804) (230,453) Transfers into Level 3 (1) — — — — — — 810 810 Transfers out of Level 3 — — — — — — — — Fair value at end of period $ 397,888 $ 125,003 $ 10,015 $ 55,514 $ 301,619 $ 50,149 $ 362,409 $ 1,302,597 The amount of total gains or losses for the period included in changes in net assets attributable to the change in unrealized gains or losses relating to investments still held at the reporting date $ (14,618) $ (1,039) $ (32) $ (45) $ 8,653 $ (949) $ (85,754) $ (93,784) For the Six Months Ended June 30, 2022 Senior Secured Loans—First Lien Senior Secured Loans—Second Lien Senior Secured Bonds Unsecured Debt Preferred Equity Sustainable Infrastructure Equity/Other Total Fair value at beginning of period $ 414,075 $ 84,083 $ 10,371 $ 104,659 $ 497,288 $ 50,770 $ 460,236 $ 1,621,482 Accretion of discount (amortization of premium) 1,085 125 24 80 2,662 — — 3,976 Net realized gain (loss) (12,192) 446 — (27,729) 270 — 60,903 21,698 Net change in unrealized appreciation (depreciation) 20,588 420 (39) 34,607 (3,519) 1,361 154,688 208,106 Purchases 99,677 110,150 — — — — 45,835 255,662 Paid-in-kind interest 7,901 537 — 3,843 188 — — 12,469 Sales and repayments (117,681) (18,577) — (47,571) (21,812) — (129,505) (335,146) Transfers into Level 3 (1) 58,705 — — — — — — 58,705 Transfers out of Level 3 — — — — — — — — Fair value at end of period $ 472,158 $ 177,184 $ 10,356 $ 67,889 $ 475,077 $ 52,131 $ 592,157 $ 1,846,952 The amount of total gains or losses for the period included in changes in net assets attributable to the change in unrealized gains or losses relating to investments still held at the reporting date $ 10,826 $ 643 $ (39) $ (80) $ (3,519) $ 1,361 $ 168,303 $ 177,495 ______________ (1) Changes in inputs or methodologies used for valuing investments may result in transfers into or out of levels within the fair value hierarchy. Transfers between levels of the fair value hierarchy are deemed to have occurred at the beginning of the reporting period. For the six months ended June 30, 2023 and 2022, transfers into Level 3 were due to decreased price transparency. |
Schedule of Valuation Techniques and Significant Unobservable Inputs Used in Recurring Level 3 Fair Value | The valuation techniques and significant unobservable inputs used in recurring Level 3 fair value measurements as of June 30, 2023 and December 31, 2022 were as follows: Type of Investment Fair Value at June 30, 2023 (Unaudited) Valuation Technique (1) Unobservable Input Range Weighted Senior Secured Loans—First Lien $ 389,381 Market Comparables Market Yield (%) 8.5%-21.5% 13.4% EBITDA Multiples (x) 4.6x-7.2x 5.3x 8,507 Discounted Cash Flow Discount Rate (%) 9.5%-14.5% 12.0% Senior Secured Loans—Second Lien 125,003 Market Comparables Market Yield (%) 10.8%-14.3% 12.5% Senior Secured Bonds 10,015 Market Comparables Market Yield (%) 7.0%-8.0% 7.5% Unsecured Debt 18,289 Market Comparables Market Yield (%) 11.0%-12.0% 11.5% 37,225 Other (2) Preferred Equity 301,619 Market Comparables Market Yield (%) 9.3%-26.0% 18.1% EBITDA Multiples (x) 11.3x-12.3x 11.8x Net Aircraft Book Value Multiple (x) 1.0x-1.0x 1.0x Sustainable Infrastructure Investments, LLC 50,149 Discounted Cash Flow Discount Rate (%) 14.0%-15.0% 14.5% Equity/Other 322,357 Market Comparables EBITDA Multiples (x) 2.6x-12.3x 5.5x Production Multiples (Mboe/d) $27,835.0-$31,335.0 $29,573.0 Proved Reserves Multiples (Mmboe) $5.8-$6.5 $6.2 Production Multiples (MMcfe/d) $2,500.0-$3,100.0 $2,800.0 Proved Reserves Multiples (Bcfe) 0.6x-0.6x 0.6x PV-10 Multiples (x) 0.3x-0.9x 0.8x 8,597 Discounted Cash Flow Discount Rate (%) 8.0%-34.0% 15.4% 7,100 Option Valuation Model Volatility (%) 27.4%-65.0% 40.6% 24,355 Other (2) Total $ 1,302,597 Type of Investment Fair Value at Valuation Technique (1) Unobservable Input Range Weighted Senior Secured Loans—First Lien $ 413,268 Market Comparables Market Yield (%) 8.5%-21.8% 12.3% EBITDA Multiples (x) 5.0x-7.5x 6.3x 29,977 Discounted Cash Flow Discount Rate (%) 11.5%-19.5% 15.4% Senior Secured Loans—Second Lien 143,270 Market Comparables Market Yield (%) 10.3%-14.3% 11.8% Senior Secured Bonds 10,074 Market Comparables Market Yield (%) 6.9%-7.9% 7.4% Unsecured Debt 19,256 Market Comparables Market Yield (%) 10.3%-11.3% 10.8% 35,118 Other (2) Preferred Equity 316,767 Market Comparables Market Yield (%) 8.8%-30.3% 19.0% EBITDA Multiples (x) 9.5x-10.5x 10.0x Net Aircraft Book Value Multiple (x) 1.0x-1.0x 1.0x 83,647 Discounted Cash Flow Discount Rate (%) 11.3%-12.3% 11.8% Sustainable Infrastructure Investments, LLC 51,098 Discounted Cash Flow Discount Rate (%) 13.5%-14.5% 14.0% Equity/Other 481,623 Market Comparables EBITDA Multiples (x) 1.8x-10.5x 5.4x Production Multiples (Mboe/d) $27,946.0-$37,500.0 $30,265.3 Proved Reserves Multiples (Mmboe) $6.9-$10.3 $7.6 Production Multiples (MMcfe/d) $3,400.0-$3,700.0 $3,550.0 Proved Reserves Multiples (Bcfe) 0.8x-0.9x 0.8x PV-10 Multiples (x) 0.5x-0.9x 0.8x 2,488 Discounted Cash Flow Discount Rate (%) 8.0%-33.0% 23.8% 5,734 Option Valuation Model Volatility (%) 31.5%-55.1% 36.6% 1,885 Other (2) Total $ 1,594,205 ______________ (1) For investments utilizing a market comparables valuation technique, a significant increase (decrease) in the market yield, in isolation, would result in a significantly lower (higher) fair value measurement, and a significant increase (decrease) in any of the valuation multiples, in isolation, would result in a significantly higher (lower) fair value measurement. For investments utilizing a discounted cash flow valuation technique, a significant increase (decrease) in the discount rate, in isolation, would result in a significantly lower (higher) fair value measurement. For investments utilizing an option valuation model valuation technique, a significant increase (decrease) in the volatility, in isolation, would result in a significantly higher (lower) fair value measurement. (2) Fair valued based on expected outcome of proposed corporate transactions, the expected value of the liquidation preference of the investment or other factors. |
Financing Arrangements (Tables)
Financing Arrangements (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Debt Disclosure [Abstract] | |
Schedule of Outstanding Financing Arrangements | The following table presents a summary of information with respect to the Company’s outstanding financing arrangements as of December 31, 2022. As of June 30, 2023, the Company had no outstanding financing arrangements. For additional information regarding these financing arrangements, see the notes to the Company’s audited consolidated financial statements contained in its annual report on Form 10-K for the year ended December 31, 2022. Any significant changes to the Company’s financing arrangements during the six months ended June 30, 2023 are discussed below. As of December 31, 2022 Arrangement (1) Type of Arrangement Rate (2) Amount Amount Maturity Date JPMorgan Facility Term Loan L+3.00% $ 305,676 $ — February 16, 2023 (4) Senior Secured Notes (3) Bond 7.50% 457,075 — August 15, 2023 (5) Total $ 762,751 $ — ______________________ (1) The carrying amount outstanding under the facility approximates its fair value, unless otherwise noted. (2) LIBOR is subject to a 0.00% floor. (3) As of December 31, 2022 , the fair value of the Senior Secured Notes was approximately $458,908. This valuation is considered a Level 2 valuation within the fair value hierarchy. (4) On February 14, 2023, the Company repaid and terminated the JPMorgan Facility. (5) On May 15, 2023, the Company redeemed 100% of the issued and outstanding Senior Secured Notes at a price equal to 100% of the aggregate principal amount, plus the accrued but unpaid interest through to, but excluding, May 15, 2023. |
Schedule of Interest Expense | For the six months ended June 30, 2023 and 2022, the components of total interest expense for the Company's financing arrangements were as follows: Six Months Ended 2023 2022 Arrangement (1) Direct Interest Expense (2) Amortization of Deferred Financing Costs and Discount Total Interest Expense Direct Interest Expense (2) Amortization of Deferred Financing Costs and Discount Total Interest Expense JPMorgan Facility (3) $ 2,790 $ 238 $ 3,028 $ 5,364 $ 1,365 $ 6,729 Senior Secured Notes (4) 12,760 2,540 15,300 17,808 2,353 20,161 Total $ 15,550 $ 2,778 $ 18,328 $ 23,172 $ 3,718 $ 26,890 ___________________ (1) Borrowings of each of the Company's wholly-owned special-purpose financing subsidiaries are considered borrowings of the Company for purposes of complying with the asset coverage requirements applicable to BDCs under the 1940 Act. (2) Direct interest expense includes the effect of non-usage fees, administration fees and make-whole fees, if any. (3) On February 14, 2023, the Company repaid and terminated the JPMorgan Facility. (4) On May 15, 2023, the Company redeemed 100% of the issued and outstanding Senior Secured Notes at a price equal to 100% of the aggregate principal amount, plus the accrued but unpaid interest through to, but excluding, May 15, 2023. |
Financial Highlights (Tables)
Financial Highlights (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Investment Company [Abstract] | |
Schedule of Financial Highlights | The following is a schedule of financial highlights of the Company for the six months ended June 30, 2023 and the year ended December 31, 2022: Six Months Ended (Unaudited) Year Ended December 31, 2022 Per Share Data: (1) Net asset value, beginning of period $ 3.88 $ 3.59 Results of operations (2) Net investment income 0.09 0.16 Net realized gain (loss) and unrealized appreciation (depreciation) (0.21) 0.25 Net increase (decrease) in net assets resulting from operations (0.12) 0.41 Shareholder distributions (3) Distributions from net investment income (0.06) (0.12) Net decrease in net assets resulting from shareholder distributions (0.06) (0.12) Capital share transactions Issuance of common shares (4) — — Net increase (decrease) in net assets resulting from capital share transactions — — Net asset value, end of period $ 3.70 $ 3.88 Shares outstanding, end of period 454,129,547 451,465,673 Total return (5) (3.13) % 11.39 % Total return (without assuming reinvestment of distributions) (5) (3.09) % 11.29 % Ratio/Supplemental Data: Net assets, end of period $ 1,679,723 $ 1,753,748 Ratio of net investment income to average net assets (6)(7) 4.46 % 4.02 % Ratio of total operating expenses to average net assets (6) 5.25 % 6.78 % Ratio of management fee offset to average net assets (6) (0.02) % (0.15) % Ratio of net operating expenses to average net assets (6) 5.23 % 6.63 % Ratio of interest expense to average net assets (6) 2.10 % 3.21 % Portfolio turnover (8) 5.11 % 16.15 % Total amount of senior securities outstanding, exclusive of treasury securities — $ 762,751 Asset coverage per unit (9) — 3.30 _________________________ (1) Per share data may be rounded in order to recompute the ending net asset value per share. (2) The per share data was derived by using the weighted average shares outstanding during the applicable period. (3) The per share data for distributions reflects the actual amount of distributions paid per share during the applicable period. (4) The issuance of common shares on a per share basis reflects the incremental net asset value changes as a result of the issuance of common shares pursuant to the Company’s distribution reinvestment plan. The issuance of common shares at a price that is greater than the net asset value per share results in an increase in net asset value per share. (5) The total return for each period presented was calculated based on the change in net asset value during the applicable period, including the impact of distributions reinvested in accordance with the Company’s distribution reinvestment plan. The total return (without assuming reinvestment of distributions) for each period presented was calculated by taking the net asset value per share as of the end of the applicable period, adding the cash distributions per share which were declared during the applicable period and dividing the total by the net asset value per share at the beginning of the applicable period. The total returns do not consider the effect of any sales commissions or charges that may be incurred in connection with the sale of the Company’s common shares. The total returns include the effect of the issuance of common shares at a net offering price that is greater than net asset value per share, which causes an increase in net asset value per share. The historical calculations of total returns in the table should not be considered representations of the Company’s future total returns, which may be greater or less than the returns shown in the table due to a number of factors, including the Company’s ability or inability to make investments in companies that meet its investment criteria, the interest rates payable on the debt securities the Company acquires, the level of the Company’s expenses, variations in and the timing of the recognition of realized and unrealized gains or losses, the degree to which the Company encounters competition in its markets and general economic conditions. As a result of these factors, results for any previous period should not be relied upon as being indicative of performance in future periods. The total return calculations set forth above represent the total returns on the Company’s investment portfolio during the applicable period and do not represent actual returns to shareholders. (6) Weighted average net assets during the applicable period are used for this calculation. Ratios for the six months ended June 30, 2023 are annualized. Annualized ratios for the six months ended June 30, 2023 are not necessarily indicative of the ratios that may be expected for the year ending December 31, 2023. (7) If FS/EIG Advisor had not agreed to offset the amount of any structuring, upfront or certain other fees it or its members received against the management fee payable by the Company, the ratio of net investment income to average net assets would have been 4.44% and 3.87% for the six months ended June 30, 2023 and the year ended December 31, 2022, respectively. See Note 4 for a discussion of the management fee offset with FS/EIG Advisor. (8) Portfolio turnover for the six months ended June 30, 2023 is not annualized. (9) Asset coverage per unit is the ratio of the carrying value of the Company’s total consolidated assets, less liabilities and indebtedness not represented by senior securities, to the aggregate amount of senior securities representing indebtedness. On February 14, 2023, the Company repaid and terminated the JPMorgan Facility. On May 15, 2023, the Company redeemed 100% of the issued and outstanding Senior Secured Notes at a price equal to 100% of the aggregate principal amount, plus the accrued but unpaid interest through to, but excluding, May 15, 2023. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Details) - Affiliated Entity | 6 Months Ended |
Jun. 30, 2023 | |
Investment Advisory Agreement - Incentive Rate, Realized Capital Gains | |
Incentive fee (in percent) | 20% |
Investment Advisory Agreement - Incentive Rate, Quarterly In Arrears Catch-up Threshold | |
Incentive fee (in percent) | 20% |
Investment Advisory Agreement - Incentive Rate, Quarterly Catch-up Threshold | |
Incentive fee (in percent) | 1.625% |
Investment Advisory Agreement - Incentive Rate, Annualized Hurdle Rate | |
Incentive fee (in percent) | 6.50% |
Investment Advisory Agreement - Incentive Rate, Pre-Incentive Fee Net Investment Income Below Catch-Up Threshold | |
Incentive fee (in percent) | 2.031% |
Investment Advisory Agreement - Incentive Rate, Annualized Catch-Up Threshold | |
Incentive fee (in percent) | 8.125% |
Share Transactions - Schedule o
Share Transactions - Schedule of Common Stock Transactions (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | ||
Equity [Abstract] | |||||
Reinvestment of distributions (in shares) | 2,663,874 | 2,741,168 | |||
Reinvestment of Distributions | [1] | $ 5,170 | $ 5,225 | $ 10,388 | $ 10,460 |
Proceeds from share transactions (in shares) | 2,663,874 | 2,741,168 | |||
Proceeds from Share Transactions | $ 10,388 | $ 10,460 | |||
[1]See Note 3 for a discussion of the Company's common share transactions. |
Share Transactions - Narrative
Share Transactions - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 3 Months Ended | 6 Months Ended | |||||
May 05, 2017 | May 04, 2017 | Jul. 31, 2023 | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | ||
Class of Stock [Line Items] | ||||||||
Stock repurchased and distributed (in shares) | 2,663,874 | 2,741,168 | ||||||
Stock reinvestment of distributions | [1] | $ 5,170 | $ 5,225 | $ 10,388 | $ 10,460 | |||
Distribution Reinvestment Plan | ||||||||
Class of Stock [Line Items] | ||||||||
Weighted average number of common shares outstanding in prior year | 10% | 10% | ||||||
Weighted average number of common shares outstanding | 2.50% | 2.50% | ||||||
Distribution reinvestment plan term | 12 months | |||||||
Distribution reinvestment plan term expiree | 3 months | |||||||
Share distribution not more than net asset value per common share | 2.50% | |||||||
Termination period | 30 days | |||||||
Minimum investment threshold | $ 5 | |||||||
Written notice period | 30 days | |||||||
Distribution Reinvestment Plan | Subsequent Event | ||||||||
Class of Stock [Line Items] | ||||||||
Stock repurchased and distributed (in shares) | 1,375,076 | |||||||
Stock reinvestment of distributions | $ 5,156 | |||||||
Average cost per share of stock repurchased and distributed (in USD per share) | $ 3.75 | |||||||
[1]See Note 3 for a discussion of the Company's common share transactions. |
Related Party Transactions - Na
Related Party Transactions - Narrative (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | ||
Related Party Transaction [Line Items] | |||||
Investment company, contractual fee waived | [1] | $ 19 | $ 1,700 | $ 274 | $ 2,398 |
Investment Advisory Agreement | Affiliated Entity | |||||
Related Party Transaction [Line Items] | |||||
Management and service fees, base rate | 1.75% | ||||
Investment company, contractual fee waived | $ 19 | $ 1,700 | $ 274 | $ 2,398 | |
[1]See Note 4 for a discussion of the offset by FS/EIG Advisor, LLC, the Company's investment adviser, of certain management fees to which it was otherwise entitled during the applicable period. |
Related Party Transactions - Sc
Related Party Transactions - Schedule of the Fees and Expenses Accrued (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | ||
Related Party Transaction [Line Items] | ||||||
Administrative services expenses | $ 1,359 | $ 1,490 | $ 2,679 | $ 2,910 | ||
Management fees | 8,705 | 11,276 | 19,179 | 22,011 | ||
Investment company, contractual fee waived | [1] | 19 | 1,700 | 274 | 2,398 | |
Management fees payable | 8,686 | 8,686 | $ 11,185 | |||
Affiliated Entity | Investment Advisory Agreement | ||||||
Related Party Transaction [Line Items] | ||||||
Base management fee | 8,686 | 9,576 | 18,905 | 19,613 | ||
Management fees | 21,404 | 20,503 | ||||
Investment company, contractual fee waived | 19 | 1,700 | 274 | 2,398 | ||
Management fees payable | 8,686 | 8,686 | ||||
Accounting and administrative fees | 1,649 | 1,372 | ||||
Payment for administrative services expenses | 2,933 | 2,234 | ||||
Affiliated Entity | Administrative Services Expense | ||||||
Related Party Transaction [Line Items] | ||||||
Administrative services expenses | $ 1,359 | $ 1,490 | $ 2,679 | $ 2,910 | ||
[1]See Note 4 for a discussion of the offset by FS/EIG Advisor, LLC, the Company's investment adviser, of certain management fees to which it was otherwise entitled during the applicable period. |
Distributions - Cash Distributi
Distributions - Cash Distributions (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||
Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |||||
Income Tax Disclosure [Abstract] | |||||||||||
Distributions (in USD per share) | $ 0.03 | $ 0.03 | $ 0.03 | $ 0.03 | $ 0.06 | $ 0.06 | $ 0.12 | ||||
Amount | $ 13,624 | [1] | $ 13,584 | $ 13,465 | [1] | $ 13,426 | $ 27,208 | [1] | $ 26,891 | [1] | |
[1]See Note 5 for a discussion of the sources of distributions paid by the Company. |
Distributions - Narrative (Deta
Distributions - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Investment Company, Changes in Net Assets [Line Items] | |||||||
Annualized distribution rate | 7.50% | ||||||
Maximum cap on annualized distribution rate | 15% | ||||||
Net asset value common share percentage | 2.50% | ||||||
Distributions (in USD per share) | $ 0.03 | $ 0.03 | $ 0.03 | $ 0.03 | $ 0.06 | $ 0.06 | $ 0.12 |
Short-term and long-term capital loss carryforwards | $ (70,196) | $ (70,196) | $ (1,273,062) | ||||
Unrealized appreciation | 225,951 | 225,951 | 334,635 | ||||
Unrealized depreciation | 422,405 | 422,405 | 512,206 | ||||
Income tax purposes | 1,692,550 | 1,692,550 | 2,223,943 | ||||
Net unrealized appreciation (depreciation) | (196,948) | (196,948) | (176,828) | ||||
Subsidiaries | |||||||
Investment Company, Changes in Net Assets [Line Items] | |||||||
Deferred tax asset | 149,104 | 149,104 | 145,383 | ||||
Deferred tax liability | 10,485 | 10,485 | 28,753 | ||||
Deferred tax asset offset by valuation allowance | $ 138,619 | 138,619 | 116,630 | ||||
Current income tax | $ 0 | $ 1,207 |
Distributions - Cash Distribu_2
Distributions - Cash Distributions on Common Stock (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||||||
Jun. 30, 2023 | [1] | Mar. 31, 2023 | Jun. 30, 2022 | [1] | Mar. 31, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |||
Distribution Amount | ||||||||||
Net investment income | $ 27,208 | $ 26,891 | ||||||||
Short-term capital gains proceeds from the sale of assets | 0 | 0 | ||||||||
Long-term capital gains proceeds from the sale of assets | 0 | 0 | ||||||||
Total | $ 13,624 | $ 13,584 | $ 13,465 | $ 13,426 | $ 27,208 | [1] | $ 26,891 | [1] | ||
Percentage | ||||||||||
Net investment income | 100% | 100% | ||||||||
Short-term capital gains proceeds from the sale of assets | 0% | 0% | ||||||||
Long-term capital gains proceeds from the sale of assets | 0% | 0% | ||||||||
Total | 100% | 100% | ||||||||
Gross investment income attributable to cash income earned | 82.30% | 80.30% | ||||||||
Gross investment income attributable to paid-in-kind interest | 14% | 15% | ||||||||
Gross investment income attributable to non-cash accretion of discount | 3.70% | 4.70% | ||||||||
[1]See Note 5 for a discussion of the sources of distributions paid by the Company. |
Financial Instruments - Schedul
Financial Instruments - Schedule of Fixed Price Swap Positions (Details) | 6 Months Ended |
Jun. 30, 2023 MMBTU $ / MMBTU $ / bbl bbl | |
Swap Contracts—Crude Oil | |
Derivatives, Fair Value [Line Items] | |
Notional volume of fixed price swap contracts-crude oil | bbl | 131,294 |
Swap Contracts—Crude Oil | Designated as Hedging Instrument | |
Derivatives, Fair Value [Line Items] | |
Notional amount, volume | bbl | 80,561 |
Weighted average price | $ / bbl | 80 |
Swap Contracts—Natural Gas | |
Derivatives, Fair Value [Line Items] | |
Notional volume of fixed price swap contracts-natural gas | MMBTU | 242,102 |
Swap Contracts—Natural Gas | Designated as Hedging Instrument | |
Derivatives, Fair Value [Line Items] | |
Weighted average price | $ / MMBTU | 3.80 |
Notional amount, energy | MMBTU | 139,923 |
Financial Instruments - Fair Va
Financial Instruments - Fair Value of Open Swap Contracts (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Derivative [Line Items] | ||
Derivative Assets | $ 505 | $ 0 |
Derivative Liabilities | 0 | (698) |
Swap Contracts—Crude Oil | ||
Derivative [Line Items] | ||
Derivative Assets | 399 | 0 |
Derivative Liabilities | 0 | (572) |
Swap Contracts—Natural Gas | ||
Derivative [Line Items] | ||
Derivative Assets | 106 | 0 |
Derivative Liabilities | $ 0 | $ (126) |
Financial Instruments - Stateme
Financial Instruments - Statements of Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Net realized gains (losses) | $ 214 | $ (1,392) | $ 226 | $ (1,808) |
Net change in unrealized appreciation (depreciation) | $ 126 | $ (106) | 1,203 | (3,588) |
Swap Contracts—Crude Oil | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Net realized gains (losses) | (18) | (1,502) | ||
Net change in unrealized appreciation (depreciation) | 971 | (3,156) | ||
Swap Contracts—Natural Gas | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Net realized gains (losses) | 244 | (306) | ||
Net change in unrealized appreciation (depreciation) | $ 232 | $ (432) |
Financial Instruments - Derivat
Financial Instruments - Derivative Assets and Liabilities by Counterparty (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | $ 505 | $ 0 |
Derivative Liabilities | 0 | (698) |
BP Energy Co | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 505 | 0 |
Derivative Liabilities | 0 | (698) |
Net Value of Derivatives | 505 | (698) |
Non-cash collateral (received) pledged | 0 | 0 |
Cash collateral (received) pledged | 0 | 0 |
Net amount of derivative assets (liabilities) | $ 505 | $ (698) |
Investment Portfolio - Schedule
Investment Portfolio - Schedule Of Investment Portfolio At Cost And Fair Value (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2023 | Dec. 31, 2022 | |||
Schedule of Investments [Line Items] | ||||
Amortized Cost | $ 1,406,338 | [1] | $ 1,922,940 | [2] |
Fair Value | 1,495,602 | [1],[3] | 2,047,115 | [2],[4] |
Net Senior Secured Loans—First Lien | ||||
Schedule of Investments [Line Items] | ||||
Amortized Cost | 531,752 | [1] | 702,842 | [2] |
Fair Value | 522,029 | [1],[3] | 706,646 | [2],[4] |
Net Senior Secured Loans—Second Lien | ||||
Schedule of Investments [Line Items] | ||||
Amortized Cost | 125,774 | [1] | 143,153 | [2] |
Fair Value | 125,003 | [1],[3] | 143,270 | [2],[4] |
Senior Secured Bonds | ||||
Schedule of Investments [Line Items] | ||||
Amortized Cost | 24,043 | [1] | 10,064 | [2] |
Fair Value | 23,954 | [1],[3] | 10,074 | [2],[4] |
Unsecured Debt | ||||
Schedule of Investments [Line Items] | ||||
Amortized Cost | 106,505 | 253,675 | ||
Fair Value | 106,092 | 241,418 | ||
Preferred Equity | ||||
Schedule of Investments [Line Items] | ||||
Amortized Cost | 301,615 | [1] | 425,182 | [2] |
Fair Value | 301,619 | [1],[3] | 400,414 | [2],[4] |
Sustainable Infrastructure Investments, LLC | ||||
Schedule of Investments [Line Items] | ||||
Amortized Cost | 54,514 | [1] | 54,514 | [2] |
Fair Value | 50,149 | [1],[3] | 51,098 | [2],[4] |
Equity/Other | ||||
Schedule of Investments [Line Items] | ||||
Amortized Cost | 262,135 | 333,510 | ||
Fair Value | $ 366,756 | $ 494,195 | ||
Percentage of Portfolio | Customer Concentration Risk | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Portfolio | 100% | 100% | ||
Percentage of Portfolio | Customer Concentration Risk | Net Senior Secured Loans—First Lien | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Portfolio | 35% | 35% | ||
Percentage of Portfolio | Customer Concentration Risk | Net Senior Secured Loans—Second Lien | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Portfolio | 8% | 7% | ||
Percentage of Portfolio | Customer Concentration Risk | Senior Secured Bonds | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Portfolio | 2% | 0% | ||
Percentage of Portfolio | Customer Concentration Risk | Unsecured Debt | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Portfolio | 7% | 12% | ||
Percentage of Portfolio | Customer Concentration Risk | Preferred Equity | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Portfolio | 20% | 20% | ||
Percentage of Portfolio | Customer Concentration Risk | Sustainable Infrastructure Investments, LLC | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Portfolio | 3% | 2% | ||
Percentage of Portfolio | Customer Concentration Risk | Equity/Other | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Portfolio | 25% | 24% | ||
[1]Security may be an obligation of one or more entities affiliated with the named company.[2]Security may be an obligation of one or more entities affiliated with the named company.[3]See Note 8 for additional information regarding the fair value of the Company’s financial instruments.[4]See Note 8 for additional information regarding the fair value of the Company’s financial instruments. |
Investment Portfolio - Narrativ
Investment Portfolio - Narrative (Details) $ in Thousands, $ in Thousands | 6 Months Ended | ||||||
Jan. 02, 2020 USD ($) | Jan. 02, 2020 CAD ($) | Jun. 30, 2023 USD ($) company investment | Jun. 30, 2023 CAD ($) company investment | Dec. 31, 2022 USD ($) investment company | Dec. 31, 2022 CAD ($) investment company | ||
Schedule of Investments [Line Items] | |||||||
Unfunded commitment with amortized cost | $ 2,500 | $ 2,500 | |||||
Investment, Identifier [Axis]: AIRRO (Mauritius) Holdings II, Energy—Power 1 | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[2],[3],[4],[5] | $ 23,071 | |||||
Floor rate | [2],[3],[4],[5],[6] | 1.50% | 1.50% | ||||
Variable rate | [2],[3],[4],[5],[6] | 4% | 4% | ||||
Investment, Identifier [Axis]: AIRRO (Mauritius) Holdings II, Energy—Power 2 | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[2],[3],[4],[5],[7] | $ 5,359 | |||||
Floor rate | [2],[3],[4],[5],[6],[7] | 1.50% | 1.50% | ||||
Variable rate | [2],[3],[4],[5],[6],[7] | 4% | 4% | ||||
Investment, Identifier [Axis]: AIRRO (Mauritius) Holdings II, Power 1 | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[9],[10],[11],[12] | $ 22,734 | |||||
Floor rate | [9],[10],[11],[12],[13] | 1.50% | 1.50% | ||||
Variable rate | [9],[10],[11],[12] | 4% | 4% | ||||
Investment, Identifier [Axis]: AIRRO (Mauritius) Holdings II, Power 2 | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[9],[10],[11],[12],[14] | $ 5,359 | |||||
Floor rate | [9],[10],[11],[12],[13],[14] | 1.50% | 1.50% | ||||
Variable rate | [9],[10],[11],[12],[14] | 4% | 4% | ||||
Investment, Identifier [Axis]: Acrisure, LLC, Insurance | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[3] | $ 9,975 | |||||
Floor rate | [3],[6] | 1% | 1% | ||||
Variable rate | [3],[6] | 5.75% | 5.75% | ||||
Investment, Identifier [Axis]: Aethon III BR LLC, Energy—Upstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[2],[3] | $ 20,000 | |||||
Floor rate | [2],[3],[6] | 1.50% | 1.50% | ||||
Variable rate | [2],[3],[6] | 7.50% | 7.50% | ||||
Investment, Identifier [Axis]: Aethon III BR LLC, Upstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[9],[10],[15] | $ 20,000 | |||||
Floor rate | [9],[10],[13],[15] | 1.50% | 1.50% | ||||
Variable rate | [9],[10],[15] | 7.50% | 7.50% | ||||
Investment, Identifier [Axis]: Aethon United BR LP, Energy—Upstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[3] | $ 40,500 | |||||
Investment, Identifier [Axis]: Aethon United BR LP, Upstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[10],[15] | $ 40,500 | |||||
Investment, Identifier [Axis]: Allied Downhole Technologies, LLC, Energy—Service & Equipment 1 | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[2],[3],[16] | 7,553 | |||||
Investment, Identifier [Axis]: Allied Downhole Technologies, LLC, Energy—Service & Equipment 2 | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[2],[3],[7],[16] | 2,500 | |||||
Investment, Identifier [Axis]: Allied Downhole Technologies, LLC, Service & Equipment 1 | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[9],[10],[15],[17] | 8,436 | |||||
Investment, Identifier [Axis]: Allied Downhole Technologies, LLC, Service & Equipment 2 | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[9],[10],[14],[17] | 2,500 | |||||
Investment, Identifier [Axis]: Allied Universal Holdco, LLC, Consumer Services | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[3] | $ 7,980 | |||||
Floor rate | [3],[6] | 0.50% | 0.50% | ||||
Variable rate | [3],[6] | 3.75% | 3.75% | ||||
Investment, Identifier [Axis]: Allied Wireline Services, LLC, Energy—Service & Equipment | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[2],[3],[16] | $ 70,277 | |||||
Investment, Identifier [Axis]: Allied Wireline Services, LLC, Service & Equipment | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[9],[10],[15],[17] | 63,888 | |||||
Investment, Identifier [Axis]: Archrock Partners, L.P., Midstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[10],[12],[15] | 3,098 | |||||
Investment, Identifier [Axis]: Aveanna Healthcare LLC, Health Care Equipment & Services | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[3] | $ 9,975 | |||||
Floor rate | [3],[6] | 0.50% | 0.50% | ||||
Variable rate | [3],[6] | 3.75% | 3.75% | ||||
Investment, Identifier [Axis]: Brazos Delaware II LLC, Midstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[10] | $ 39,259 | |||||
Variable rate | [10] | 4% | 4% | ||||
Investment, Identifier [Axis]: CPV Maryland, LLC, Power | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[10] | $ 14,286 | |||||
Floor rate | [10],[13] | 1% | 1% | ||||
Variable rate | [10] | 4% | 4% | ||||
Investment, Identifier [Axis]: CPV Shore Holdings LLC, Energy—Power | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[3] | $ 23,601 | |||||
Variable rate | [3],[6] | 3.75% | 3.75% | ||||
Investment, Identifier [Axis]: CPV Shore Holdings LLC, Power | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[10] | $ 23,601 | |||||
Variable rate | [10] | 3.75% | 3.75% | ||||
Investment, Identifier [Axis]: Cimarron Energy Inc., Service & Equipment | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[9],[10],[15],[18],[19] | $ 7,500 | |||||
Floor rate | [9],[10],[13],[15],[18],[19] | 1% | 1% | ||||
Variable rate | [9],[10],[15],[18],[19] | 9% | 9% | ||||
Investment, Identifier [Axis]: Citizen Energy Operating, LLC, Energy—Upstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[2],[3] | $ 37,000 | |||||
Floor rate | [2],[3],[6] | 1% | 1% | ||||
Variable rate | [2],[3],[6] | 7.65% | 7.65% | ||||
Investment, Identifier [Axis]: Citizen Energy Operating, LLC, Upstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[9],[10],[15] | $ 39,000 | |||||
Floor rate | [9],[10],[13],[15] | 1% | 1% | ||||
Variable rate | [9],[10],[15] | 7.65% | 7.65% | ||||
Investment, Identifier [Axis]: Compass Power Generation LLC, Power | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[10] | $ 31,575 | |||||
Floor rate | [10],[13] | 1% | 1% | ||||
Variable rate | [10] | 4.25% | 4.25% | ||||
Investment, Identifier [Axis]: Cox Oil Offshore, LLC, Volumetric Production Payments, Energy—Upstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[2],[3],[20],[21] | $ 100,000 | |||||
Investment, Identifier [Axis]: Cox Oil Offshore, LLC, Volumetric Production Payments, Upstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[9],[10],[22],[23] | $ 100,000 | |||||
Investment, Identifier [Axis]: EIF Van Hook Holdings, LLC, Midstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[10] | $ 26,882 | |||||
Variable rate | [10] | 5.25% | 5.25% | ||||
Investment, Identifier [Axis]: ERA II Minerals, LLC, Energy—Upstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[2],[3] | $ 35,000 | |||||
Floor rate | [2],[3],[6] | 0.80% | 0.80% | ||||
Variable rate | [2],[3],[6] | 6.25% | 6.25% | ||||
Investment, Identifier [Axis]: ERA II Minerals, LLC, Upstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[9],[10],[15] | $ 37,000 | |||||
Floor rate | [9],[10],[13],[15] | 0.80% | 0.80% | ||||
Variable rate | [9],[10],[15] | 6.25% | 6.25% | ||||
Investment, Identifier [Axis]: Earthstone Energy Holdings, LLC, Upstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[10],[12] | $ 11,400 | |||||
Investment, Identifier [Axis]: Endeavor Energy Resources, L.P., Upstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[10],[15] | 24,299 | |||||
Investment, Identifier [Axis]: FR BR Holdings LLC, Energy—Midstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[2],[3] | $ 81,041 | |||||
Variable rate | [2],[3],[6] | 6.50% | 6.50% | ||||
Investment, Identifier [Axis]: FR BR Holdings LLC, Midstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[9],[10],[15] | $ 81,582 | |||||
Variable rate | [9],[10],[15] | 6.50% | 6.50% | ||||
Investment, Identifier [Axis]: FR XIII PAA Holdings HoldCo, LLC, Energy—Midstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[2],[3] | $ 17,197 | |||||
Floor rate | [2],[3],[6] | 0.50% | 0.50% | ||||
Variable rate | [2],[3],[6] | 7.50% | 7.50% | ||||
Investment, Identifier [Axis]: FR XIII PAA Holdings HoldCo, LLC, Midstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[9],[10] | $ 17,347 | |||||
Floor rate | [9],[10],[13] | 0.50% | 0.50% | ||||
Variable rate | [9],[10] | 7.50% | 7.50% | ||||
Investment, Identifier [Axis]: First Brands Group, LLC, Automobiles & Components | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[3] | $ 6,982 | |||||
Floor rate | [3],[6] | 1% | 1% | ||||
Variable rate | [3],[6] | 5% | 5% | ||||
Investment, Identifier [Axis]: GIP II Blue Holding LP, Energy—Midstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[3] | $ 4,763 | |||||
Floor rate | [3],[6] | 1% | 1% | ||||
Variable rate | [3],[6] | 4.50% | 4.50% | ||||
Investment, Identifier [Axis]: GIP II Blue Holding LP, Midstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[10] | $ 5,918 | |||||
Floor rate | [10],[13] | 1% | 1% | ||||
Variable rate | [10] | 4.50% | 4.50% | ||||
Investment, Identifier [Axis]: GasLog Ltd., Energy—Midstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[2],[3],[5] | $ 14,648 | |||||
Investment, Identifier [Axis]: GasLog Ltd., Midstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[9],[10],[12] | $ 14,648 | |||||
Variable rate | [9],[10],[12] | 7.75% | 7.75% | ||||
Investment, Identifier [Axis]: Generation Bridge LLC, Power 1 | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[10] | $ 7,432 | |||||
Floor rate | [10],[13] | 0.80% | 0.80% | ||||
Variable rate | [10] | 5% | 5% | ||||
Investment, Identifier [Axis]: Generation Bridge LLC, Power 2 | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[10] | $ 163 | |||||
Floor rate | [10],[13] | 0.80% | 0.80% | ||||
Variable rate | [10] | 5% | 5% | ||||
Investment, Identifier [Axis]: Goodnight Water Solutions, LLC, Energy—Midstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[2],[3] | $ 14,741 | |||||
Floor rate | [2],[3],[6] | 0.50% | 0.50% | ||||
Variable rate | [2],[3],[6] | 7% | 7% | ||||
Investment, Identifier [Axis]: Goodnight Water Solutions, LLC, Midstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[9],[10] | $ 14,963 | |||||
Floor rate | [9],[10],[13] | 0.50% | 0.50% | ||||
Variable rate | [9],[10] | 7.25% | 7.25% | ||||
Investment, Identifier [Axis]: Guitar Center, Inc., Consumer Discretionary Distribution & Retail | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[3] | $ 10,000 | |||||
Investment, Identifier [Axis]: Hamilton Intermediate Holdings, LLC, Power | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[9],[10] | $ 30,391 | |||||
Investment, Identifier [Axis]: Hammerhead Resources Inc., Energy—Upstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[2],[3],[5] | 37,225 | |||||
Investment, Identifier [Axis]: Hammerhead Resources Inc., Upstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[9],[10],[12],[15] | $ 35,118 | |||||
Variable rate | [9],[10],[12],[15] | 12% | 12% | ||||
Investment, Identifier [Axis]: Mavis Tire Express Services TopCo, LP, Consumer Discretionary Distribution & Retail | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[3] | $ 6,982 | |||||
Floor rate | [3],[6] | 0.80% | 0.80% | ||||
Variable rate | [3],[6] | 4% | 4% | ||||
Investment, Identifier [Axis]: Medallion Midland Acquisition LP, Midstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[10] | $ 7,920 | |||||
Floor rate | [10],[13] | 0.80% | 0.80% | ||||
Variable rate | [10] | 3.75% | 3.75% | ||||
Investment, Identifier [Axis]: Meritage Midstream Services II, LLC, Energy—Midstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[2],[3] | $ 21,857 | |||||
Floor rate | [3],[6] | 1% | 1% | ||||
Variable rate | [3],[6] | 6.75% | 6.75% | ||||
Investment, Identifier [Axis]: Moss Creek Resources, LLC, Energy—Upstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[3] | $ 11,693 | |||||
Investment, Identifier [Axis]: Moss Creek Resources, LLC, Upstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[10],[15] | $ 11,693 | |||||
Investment, Identifier [Axis]: NRG Energy, Inc., Power | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[10],[12] | 19,125 | |||||
Investment, Identifier [Axis]: Navios Logistics Finance, Inc., Transportation | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[3],[5] | 5,000 | |||||
Investment, Identifier [Axis]: OE2 North, LLC, Midstream 1 | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[9],[10] | $ 18,659 | |||||
Floor rate | [9],[10],[13] | 1% | 1% | ||||
Variable rate | [9],[10] | 5.25% | 5.25% | ||||
Investment, Identifier [Axis]: OE2 North, LLC, Midstream 2 | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[9],[10],[14] | $ 11,341 | |||||
Floor rate | [9],[10],[13],[14] | 1% | 1% | ||||
Variable rate | [9],[10],[14] | 5.25% | 5.25% | ||||
Investment, Identifier [Axis]: Oryx Midstream Services Permian Basin LLC, Midstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[10],[15] | $ 32,357 | |||||
Floor rate | [10],[13],[15] | 0.50% | 0.50% | ||||
Variable rate | [10],[15] | 3.25% | 3.25% | ||||
Investment, Identifier [Axis]: Parkway Generation LLC, Energy—Power 1 | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[3] | $ 5,760 | |||||
Floor rate | [3],[6] | 0.80% | 0.80% | ||||
Variable rate | [3],[6] | 4.75% | 4.75% | ||||
Investment, Identifier [Axis]: Parkway Generation LLC, Energy—Power 2 | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[3] | $ 43,689 | |||||
Floor rate | [3],[6] | 0.80% | 0.80% | ||||
Variable rate | [3],[6] | 4.75% | 4.75% | ||||
Investment, Identifier [Axis]: Parkway Generation LLC, Power 1 | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[10] | $ 5,760 | |||||
Floor rate | [10],[13] | 0.80% | 0.80% | ||||
Variable rate | [10] | 4.75% | 4.75% | ||||
Investment, Identifier [Axis]: Parkway Generation LLC, Power 2 | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[10] | $ 43,910 | |||||
Floor rate | [10],[13] | 0.80% | 0.80% | ||||
Variable rate | [10] | 4.75% | 4.75% | ||||
Investment, Identifier [Axis]: Peak Exploration & Production, LLC, Upstream 1 | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[9],[10],[15] | $ 13,545 | |||||
Floor rate | [9],[10],[13],[15] | 1.50% | 1.50% | ||||
Variable rate | [9],[10],[15] | 6.75% | 6.75% | ||||
Investment, Identifier [Axis]: Peak Exploration & Production, LLC, Upstream 2 | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[9],[10],[14] | $ 1,505 | |||||
Floor rate | [9],[10],[13],[14] | 1.50% | 1.50% | ||||
Variable rate | [9],[10],[14] | 6.75% | 6.75% | ||||
Investment, Identifier [Axis]: Permian Production Holdings, LLC, Energy—Upstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[2],[3],[24] | $ 4,815 | |||||
Investment, Identifier [Axis]: Permian Production Holdings, LLC, Upstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[9],[10],[15],[25] | $ 4,767 | |||||
Investment, Identifier [Axis]: Permian Resources Operating LLC, Upstream 1 | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[10] | 26,365 | |||||
Investment, Identifier [Axis]: Permian Resources Operating LLC, Upstream 2 | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[10],[15] | 5,200 | |||||
Investment, Identifier [Axis]: Pinnacle Midland Gas Holdco LLC, Energy—Midstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[2],[3] | $ 9,370 | |||||
Floor rate | [2],[3],[6] | 1% | 1% | ||||
Variable rate | [2],[3],[6] | 6.75% | 6.75% | ||||
Investment, Identifier [Axis]: Pinnacle Midland Gas Holdco LLC, Midstream 1 | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[9],[10] | $ 9,370 | |||||
Floor rate | [9],[10],[13] | 1% | 1% | ||||
Variable rate | [9],[10] | 6.75% | 6.75% | ||||
Investment, Identifier [Axis]: Pinnacle Midland Gas Holdco LLC, Midstream 2 | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[9],[10],[14] | $ 2,477 | |||||
Floor rate | [9],[10],[13],[14] | 1% | 1% | ||||
Variable rate | [9],[10],[14] | 6.75% | 6.75% | ||||
Investment, Identifier [Axis]: Plainfield Renewable Energy Holdings LLC, Energy—Power 1 | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[2],[3],[26],[27] | $ 13,297 | |||||
Investment, Identifier [Axis]: Plainfield Renewable Energy Holdings LLC, Energy—Power 2 | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[2],[3],[26],[27] | 4,015 | |||||
Investment, Identifier [Axis]: Plainfield Renewable Energy Holdings LLC, Letter of Credit, Energy—Power | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[2],[3],[7] | 2,709 | |||||
Investment, Identifier [Axis]: Plainfield Renewable Energy Holdings LLC, Letter of Credit, Power | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[9],[10],[14] | $ 2,709 | |||||
Investment, Identifier [Axis]: Plainfield Renewable Energy Holdings LLC, Power 1 | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[9],[10],[15] | 12,121 | |||||
Investment, Identifier [Axis]: Plainfield Renewable Energy Holdings LLC, Power 2 | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[9],[10],[15] | 3,643 | |||||
Investment, Identifier [Axis]: Potomac Energy Center, LLC, Energy—Power | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[2],[3] | $ 58,164 | |||||
Floor rate | [2],[3],[6] | 0.50% | 0.50% | ||||
Variable rate | [2],[3],[6] | 6% | 6% | ||||
Investment, Identifier [Axis]: Potomac Energy Center, LLC, Power | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[9],[10] | $ 58,459 | |||||
Floor rate | [9],[10],[13] | 0.50% | 0.50% | ||||
Variable rate | [9],[10] | 6% | 6% | ||||
Investment, Identifier [Axis]: Ranger Oil Corp., Upstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[10],[12] | $ 29,772 | |||||
Investment, Identifier [Axis]: ST EIP Holdings Inc., Energy—Midstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[2],[3] | $ 10,473 | |||||
Investment, Identifier [Axis]: ST EIP Holdings Inc., Midstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[9],[10] | 10,526 | |||||
Investment, Identifier [Axis]: SilverBow Resources, Inc., Energy—Upstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[2],[3],[5] | $ 14,250 | |||||
Floor rate | [2],[3],[5],[6] | 1% | 1% | ||||
Variable rate | [2],[3],[5],[6] | 7.50% | 7.50% | ||||
Investment, Identifier [Axis]: SilverBow Resources, Inc., Upstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[9],[10],[12],[15] | $ 14,250 | |||||
Floor rate | [9],[10],[12],[13],[15] | 1% | 1% | ||||
Variable rate | [9],[10],[12],[15] | 7.50% | 7.50% | ||||
Investment, Identifier [Axis]: Sitio Royalties Operating Partnership, LP, Energy—Upstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[2],[3],[5] | $ 18,500 | |||||
Floor rate | [2],[3],[5],[6] | 1.50% | 1.50% | ||||
Variable rate | [2],[3],[5],[6] | 5.75% | 5.75% | ||||
Investment, Identifier [Axis]: Sitio Royalties Operating Partnership, LP, Upstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[9],[10],[12],[15] | $ 19,500 | |||||
Floor rate | [9],[10],[12],[13],[15] | 1.50% | 1.50% | ||||
Variable rate | [9],[10],[12],[15] | 6.50% | 6.50% | ||||
Investment, Identifier [Axis]: Suburban Propane Partners LP, Midstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[10],[12],[15] | $ 7,590 | |||||
Investment, Identifier [Axis]: Sustainable Infrastructure Investments, LLC, Energy—Power | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[2],[3],[5],[16],[26] | $ 60,603 | |||||
Investment, Identifier [Axis]: Sustainable Infrastructure Investments, LLC, Power | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [9],[10],[17],[28] | 60,603 | |||||
Investment, Identifier [Axis]: TKC Holdings, Inc., Consumer Staples Distribution & Retail | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[3] | $ 4,747 | |||||
Floor rate | [3],[6] | 1% | 1% | ||||
Variable rate | [3],[6] | 5.50% | 5.50% | ||||
Investment, Identifier [Axis]: Tallgrass Energy Partners, LP, Midstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[10],[15] | 19,761 | |||||
Investment, Identifier [Axis]: Tenrgys, LLC, Energy—Upstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[2],[3] | $ 20,537 | |||||
Floor rate | [2],[3],[6] | 1% | 1% | ||||
Variable rate | [2],[3],[6] | 7.50% | 7.50% | ||||
Investment, Identifier [Axis]: Tenrgys, LLC, Upstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[9],[10],[15] | $ 20,537 | |||||
Floor rate | [9],[10],[13],[15] | 1% | 1% | ||||
Variable rate | [9],[10],[15] | 7.50% | 7.50% | ||||
Investment, Identifier [Axis]: Traverse Midstream Partners LLC, Midstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[10] | $ 28,436 | |||||
Floor rate | [10],[13] | 1% | 1% | ||||
Variable rate | [10] | 4.25% | 4.25% | ||||
Investment, Identifier [Axis]: TruGreen, LP, Commercial & Professional Services | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[3] | $ 4,987 | |||||
Floor rate | [3],[6] | 0.80% | 0.80% | ||||
Variable rate | [3],[6] | 4% | 4% | ||||
Investment, Identifier [Axis]: Warren Resources, Inc., Energy—Upstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[2],[3],[16] | $ 23,703 | |||||
Floor rate | [2],[3],[6],[16] | 1% | 1% | ||||
Variable rate | [2],[3],[6],[16] | 9% | 9% | ||||
Investment, Identifier [Axis]: Warren Resources, Inc., Upstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[9],[10],[17] | $ 23,584 | |||||
Floor rate | [9],[10],[13],[17] | 1% | 1% | ||||
Variable rate | [9],[10],[17] | 9% | 9% | ||||
Investment, Identifier [Axis]: Wattbridge Inc., Energy—Power | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [1],[2],[3] | $ 42,938 | |||||
Floor rate | [2],[3],[6] | 1.80% | 1.80% | ||||
Variable rate | [2],[3],[6] | 9.85% | 9.85% | ||||
Investment, Identifier [Axis]: Wattbridge Inc., Power | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | [8],[9],[10] | $ 42,500 | |||||
Floor rate | [9],[10],[13] | 1.80% | 1.80% | ||||
Variable rate | [9],[10] | 7.85% | 7.85% | ||||
Sustainable Infrastructure Investments, LLC | |||||||
Schedule of Investments [Line Items] | |||||||
Aggregate sustainable infrastructure investments | $ 67,629 | $ 5,430 | |||||
Contributed capital to committed capital ratio | 87.50% | 87.50% | |||||
Percentage of voting control | 50% | 50% | |||||
Amount funded to joint venture | $ 62,300 | ||||||
Principal amount | 264,692 | $ 274,088 | |||||
Debt | 206,303 | 213,583 | |||||
Sustainable Infrastructure Investments, LLC | Imperial | |||||||
Schedule of Investments [Line Items] | |||||||
Contributed capital to committed capital ratio | 12.50% | 12.50% | |||||
Percentage of voting control | 50% | 50% | |||||
Sustainable Infrastructure Investments, LLC | FS Energy And Power Fund | |||||||
Schedule of Investments [Line Items] | |||||||
Sustainable infrastructure investments, LLC entitled to a fee percentage | 0.25% | 0.25% | |||||
Amount funded to joint venture | 54,514 | ||||||
Sustainable Infrastructure Investments, LLC | Investment, Identifier [Axis]: Alianca Transportadora de Gas Participacoes S.A., Midstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | $ 70,610 | $ 73,707 | |||||
Variable rate | 2.85% | 2.85% | 2.60% | 2.60% | |||
Sustainable Infrastructure Investments, LLC | Investment, Identifier [Axis]: Blue Heron Intermediate Holdco I, LLC, Midstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | $ 31,244 | $ 31,832 | |||||
Variable rate | 1.88% | 1.88% | 1.88% | 1.88% | |||
Sustainable Infrastructure Investments, LLC | Investment, Identifier [Axis]: Cedar Creek II LLC, Renewables | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | $ 8,160 | $ 8,710 | |||||
Variable rate | 1.88% | 1.88% | 1.88% | 1.88% | |||
Sustainable Infrastructure Investments, LLC | Investment, Identifier [Axis]: Copper Mountain Solar 3, LLC, Renewables | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | $ 17,105 | $ 17,804 | |||||
Variable rate | 1.88% | 1.88% | 1.75% | 1.75% | |||
Sustainable Infrastructure Investments, LLC | Investment, Identifier [Axis]: FLNG Liquefaction 2, LLC, Midstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | $ 27,375 | $ 28,170 | |||||
Variable rate | 1.50% | 1.50% | 1.50% | 1.50% | |||
Sustainable Infrastructure Investments, LLC | Investment, Identifier [Axis]: Largest Portfolio Company Investment | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | $ 70,610 | $ 73,707 | |||||
Sustainable Infrastructure Investments, LLC | Investment, Identifier [Axis]: Meikle Wind Energy, LP, Renewables | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | $ 15,471 | $ 16,030 | |||||
Variable rate | 1.50% | 1.50% | 1.50% | 1.50% | |||
Sustainable Infrastructure Investments, LLC | Investment, Identifier [Axis]: NES Hercules Class B Member, LLC, Renewables | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | $ 24,317 | $ 24,487 | |||||
Variable rate | 1.65% | 1.65% | 1.50% | 1.50% | |||
Sustainable Infrastructure Investments, LLC | Investment, Identifier [Axis]: ST EIP Holdco LLC, Midstream | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | $ 58,124 | $ 58,673 | |||||
Variable rate | 2.50% | 2.50% | 2.50% | 2.50% | |||
Sustainable Infrastructure Investments, LLC | Investment, Identifier [Axis]: Seine Funding, LLC | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | $ 634,103 | ||||||
Floor rate | 0% | ||||||
Variable rate | 1.20% | ||||||
Sustainable Infrastructure Investments, LLC | Investment, Identifier [Axis]: Top of the World Wind Energy LLC, Renewables | |||||||
Schedule of Investments [Line Items] | |||||||
Principal amount | $ 15,854 | $ 18,373 | |||||
Variable rate | 1.88% | 1.88% | 1.88% | 1.88% | |||
Senior Secured Loan | |||||||
Schedule of Investments [Line Items] | |||||||
Number of senior secured loan investments | investment | 3 | 3 | 6 | 6 | |||
Unfunded commitment with amortized cost | $ 10,568 | $ 25,891 | |||||
Partnership Interest | Sustainable Infrastructure Investments, LLC | |||||||
Schedule of Investments [Line Items] | |||||||
Unfunded commitment with amortized cost | $ 7,625 | $ 858 | $ 7,625 | $ 858 | |||
Non-Controlled/Affiliated | |||||||
Schedule of Investments [Line Items] | |||||||
Number of investments in portfolio companies | company | 4 | 4 | 6 | 6 | |||
Controlled/affiliated | |||||||
Schedule of Investments [Line Items] | |||||||
Number of investments in portfolio companies | company | 3 | 3 | 3 | 3 | |||
[1]Denominated in U.S. dollars, unless otherwise noted.[2]Security is classified as Level 3 in the Company’s fair value hierarchy (see Note 8).[3]Security may be an obligation of one or more entities affiliated with the named company.[4]Security or portion thereof held within FS Power Investments II, LLC, a wholly-owned subsidiary of the Company.[5]The investment is not a qualifying asset under the Investment Company Act of 1940, as amended, or the 1940 Act. A business development company may not acquire any asset other than a qualifying asset, unless, at the time the acquisition is made, qualifying assets represent at least 70% of the business development company’s total assets. As of June 30, 2023 , 73.7% of the Company’s total assets represented qualifying assets. June 30, 2023 , the three-month London Interbank Offered Rate, or LIBOR, or L, was 5.55% and the Secured Overnight Financing Rate, or SOFR, or S, was 5.27%. PIK means paid-in-kind. PIK income accruals may be adjusted based on the fair value of the underlying investment. Variable rate securities with no floor rate use the respective benchmark rate in all cases. L, was 4.77% and the Secured Overnight Financing Rate, or SOFR, or S, was 4.59%. PIK means paid-in-kind. PIK income accruals may be adjusted based on the fair value of the underlying investment. Variable rate securities with no floor rate use the respective benchmark rate in all cases. Portfolio Company Fair Value at December 31, 2022 Gross Additions (1) Gross Reductions (2) Net Realized Gain (Loss) Net Change in Unrealized Appreciation (Depreciation) Fair Value at June 30, 2023 Interest Income (3) PIK Income (3) Senior Secured Loans—First Lien Allied Downhole Technologies, LLC (4) $ 8,436 $ 113 $ (996) $ — $ — $ 7,553 $ 207 $ 113 Allied Wireline Services, LLC 63,888 6,389 — — — 70,277 3,223 — Warren Resources, Inc. 23,584 119 — — — 23,703 1,648 119 Sustainable Infrastructure Investments, LLC Sustainable Infrastructure Investments, LLC 51,098 — — — (949) 50,149 — — Equity/Other Allied Wireline Services, LLC, Common Equity 10,463 — — — (2,395) 8,068 — — Allied Wireline Services, LLC, Warrants — — — — — — — — Warren Resources, Inc., Common Equity 36,982 — — — (7,551) 29,431 — — $ 194,451 $ 6,621 $ (996) $ — $ (10,895) $ 189,181 $ 5,078 $ 232 _____________ (1) Gross additions may include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, the amortization of unearned income, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company into this category from a different category. (2) Gross reductions may include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company out of this category into a different category. (3) Interest and PIK income presented for the six months ended June 30, 2023. ( 4) Security includes a partially unfunded commitment with amortized cost of $2,500 and fair value of $2,500. Under the 1940 Act, the Company generally is deemed to “control” a portfolio company if it owns more than 25% of the portfolio company’s voting securities or it has the power to exercise control over the management or policies of such portfolio company. As of December 31, 2022 , the Company held investments in portfolio companies of which it is deemed to be an “affiliated person” of and deemed to “control.” The following table presents certain information with respect to investments in portfolio companies of which the Company was deemed to be an affiliated person and deemed to control as of December 31, 2022 : Portfolio Company Fair Value at December 31, 2021 Gross Additions (1) Gross Reductions (2) Net Realized Gain (Loss) Net Change in Unrealized Appreciation (Depreciation) Fair Value at December 31, 2022 Interest Income (3) PIK Income (3) Dividend Income (3) Senior Secured Loans—First Lien Allied Downhole Technologies, LLC (4) $ 7,782 $ 654 $ — $ — $ — $ 8,436 $ — $ 654 $ — Allied Wireline Services, LLC 46,339 5,808 — — 11,741 63,888 316 5,808 — MECO IV Holdco, LLC 22,745 455 (23,200) — — — — 455 — Warren Resources, Inc. 23,688 237 (341) — — 23,584 2,620 237 — Sustainable Infrastructure Investments, LLC Sustainable Infrastructure Investments, LLC 50,770 — — — 328 51,098 — — 735 Equity/Other Allied Wireline Services, LLC, Common Equity — — — — 10,463 10,463 — — — Allied Wireline Services, LLC, Warrants — — — — — — — — — MECO IV Holdco, LLC, Class A-1 Units 4,181 — (18,060) 15,899 (2,020) — — — — Warren Resources, Inc., Common Equity 25,854 — — — 11,128 36,982 — — — $ 181,359 $ 7,154 $ (41,601) $ 15,899 $ 31,640 $ 194,451 $ 2,936 $ 7,154 $ 735 _____________ (1) Gross additions may include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, the amortization of unearned income, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company into this category from a different category. (2) Gross reductions may include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company out of this category into a different category. (3) Interest, PIK and dividend income presented for the year ended December 31, 2022. ( 4) Security includes a partially unfunded commitment with amortized cost of $2,500 and fair value of $2,500. December 31, 2022 . Under the 1940 Act, the Company generally is deemed to be an “affiliated person” of a portfolio company if it owns 5% or more of the portfolio company’s voting securities and generally is deemed to “control” a portfolio company if it owns more than 25% of the portfolio company’s voting securities or it has the power to exercise control over the management or policies of such portfolio company. As of June 30, 2023, the Company held investments in portfolio companies of which it is deemed to be an “affiliated person” but is not deemed to “control”. The following table presents certain information with respect to investments in portfolio companies of which the Company was deemed to be an affiliated person as of June 30, 2023: Portfolio Company Fair Value at December 31, 2022 Gross Additions (1) Gross Reductions (2) Net Realized Gain (Loss) Net Change in Unrealized Appreciation (Depreciation) Fair Value at June 30, 2023 Interest Income (3) PIK Income (3) Senior Secured Loans—First Lien Permian Production Holdings, LLC $ 4,767 $ 113 $ — $ — $ (65) $ 4,815 $ 324 $ 48 Equity/Other GWP Midstream Holdco, LLC, Common Equity 5,044 — — — (3,659) 1,385 — — Harvest Oil & Gas Corp., Common Equity 810 — (641) — 641 810 — — Limetree Bay Energy, LLC, Class A Units 1,885 83 — (21,541) 19,573 — — — Permian Production Holdings, LLC, Common Equity 11,420 — — — (5,710) 5,710 — — Ridgeback Resources Inc., Common Equity 41,851 — (35,240) (11,359) 4,748 — — — Telpico, LLC, Common Equity — — — — — — — — $ 65,777 $ 196 $ (35,881) $ (32,900) $ 15,528 $ 12,720 $ 324 $ 48 _____________ (1) Gross additions may include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, the amortization of unearned income, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company into this category from a different category. (2) Gross reductions may include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company out of this category into a different category. (3) Interest and PIK income presented for the six months ended June 30, 2023. Under the 1940 Act, the Company generally is deemed to be an “affiliated person” of a portfolio company if it owns 5% or more of the portfolio company’s voting securities and generally is deemed to “control” a portfolio company if it owns more than 25% of the portfolio company’s voting securities or it has the power to exercise control over the management or policies of such portfolio company. As of December 31, 2022 , the Company held investments in portfolio companies of which it is deemed to be an “affiliated person” but is not deemed to “control”. The following table presents certain information with respect to investments in portfolio companies of which the Company was deemed to be an affiliated person as of December 31, 2022 : Portfolio Company Fair Value at December 31, 2021 Gross Additions (1) Gross Reductions (2) Net Realized Gain (Loss) Net Change in Unrealized Appreciation (Depreciation) Fair Value at December 31, 2022 Interest Income (3) PIK Income (3) Fee Income (3) Dividend Income (3) Senior Secured Loans—First Lien Limetree Bay Energy, LLC $ 3,166 $ — $ (1,587) $ (12,756) $ 11,177 $ — $ — $ — $ — $ — Permian Production Holdings, LLC 7,889 697 (3,674) 551 (696) 4,767 570 105 — — Senior Secured Bonds Great Western Petroleum, LLC 58,055 96 (55,096) 1,087 (4,142) — 2,649 — 7,268 — Equity/Other Great Western Petroleum, LLC, Common Equity 40,731 — (84,871) 54,081 (9,941) — — — — — GWP Midstream Holdco, LLC, Common Equity — 6,681 — — (1,637) 5,044 — — — — Harvest Oil & Gas Corp., Common Equity 2,836 — (743) — (1,283) 810 — — — — Limetree Bay Energy, LLC, Class A Units 6,046 1,795 — — (5,956) 1,885 — — — — Permian Production Holdings, LLC, Common Equity 8,829 4 — — 2,587 11,420 — — — 1,726 Ridgeback Resources Inc., Common Equity 48,356 — (12,559) 173 5,881 41,851 — — — 3,691 Telpico, LLC, Common Equity — — — — — — — — — — $ 175,908 $ 9,273 $ (158,530) $ 43,136 $ (4,010) $ 65,777 $ 3,219 $ 105 $ 7,268 $ 5,417 _____________ (1) Gross additions may include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, the amortization of unearned income, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company into this category from a different category. (2) Gross reductions may include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company out of this category into a different category. (3) Interest, PIK, fee and dividend income presented for the year ended December 31, 2022. |
Investment Portfolio - Investme
Investment Portfolio - Investment Portfolio, at Fair Value and Percentage (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2023 | Dec. 31, 2022 | |||
Schedule of Investments [Line Items] | ||||
Investments, at fair value | $ 1,495,602 | [1],[2] | $ 2,047,115 | [3],[4] |
Percentage of Portfolio | Industry Concentration Risk | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Portfolio | 100% | 100% | ||
Energy—Upstream | ||||
Schedule of Investments [Line Items] | ||||
Investments, at fair value | $ 610,146 | $ 854,974 | ||
Energy—Upstream | Percentage of Portfolio | Industry Concentration Risk | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Portfolio | 41% | 42% | ||
Energy—Midstream | ||||
Schedule of Investments [Line Items] | ||||
Investments, at fair value | $ 465,345 | $ 646,488 | ||
Energy—Midstream | Percentage of Portfolio | Industry Concentration Risk | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Portfolio | 31% | 32% | ||
Energy—Power | ||||
Schedule of Investments [Line Items] | ||||
Investments, at fair value | $ 197,789 | $ 386,007 | ||
Energy—Power | Percentage of Portfolio | Industry Concentration Risk | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Portfolio | 13% | 19% | ||
Energy—Service & Equipment | ||||
Schedule of Investments [Line Items] | ||||
Investments, at fair value | $ 95,968 | $ 96,040 | ||
Energy—Service & Equipment | Percentage of Portfolio | Industry Concentration Risk | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Portfolio | 7% | 5% | ||
Consumer Discretionary Distribution & Retail | ||||
Schedule of Investments [Line Items] | ||||
Investments, at fair value | $ 16,041 | $ 0 | ||
Consumer Discretionary Distribution & Retail | Percentage of Portfolio | Industry Concentration Risk | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Portfolio | 1% | 0% | ||
Insurance | ||||
Schedule of Investments [Line Items] | ||||
Investments, at fair value | $ 10,062 | $ 0 | ||
Insurance | Percentage of Portfolio | Industry Concentration Risk | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Portfolio | 1% | 0% | ||
Health Care Equipment & Services | ||||
Schedule of Investments [Line Items] | ||||
Investments, at fair value | $ 8,562 | $ 0 | ||
Health Care Equipment & Services | Percentage of Portfolio | Industry Concentration Risk | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Portfolio | 1% | 0% | ||
Consumer Services | ||||
Schedule of Investments [Line Items] | ||||
Investments, at fair value | $ 7,771 | $ 0 | ||
Consumer Services | Percentage of Portfolio | Industry Concentration Risk | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Portfolio | 1% | 0% | ||
Automobiles & Components | ||||
Schedule of Investments [Line Items] | ||||
Investments, at fair value | $ 6,853 | $ 0 | ||
Automobiles & Components | Percentage of Portfolio | Industry Concentration Risk | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Portfolio | 0% | 0% | ||
Transportation | ||||
Schedule of Investments [Line Items] | ||||
Investments, at fair value | $ 4,830 | $ 0 | ||
Transportation | Percentage of Portfolio | Industry Concentration Risk | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Portfolio | 0% | 0% | ||
Commercial & Professional Services | ||||
Schedule of Investments [Line Items] | ||||
Investments, at fair value | $ 17,619 | $ 12,508 | ||
Commercial & Professional Services | Percentage of Portfolio | Industry Concentration Risk | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Portfolio | 1% | 0% | ||
Consumer Staples Distribution & Retail | ||||
Schedule of Investments [Line Items] | ||||
Investments, at fair value | $ 4,467 | $ 0 | ||
Consumer Staples Distribution & Retail | Percentage of Portfolio | Industry Concentration Risk | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Portfolio | 0% | 0% | ||
Sustainable Infrastructure Investments, LLC | ||||
Schedule of Investments [Line Items] | ||||
Investments, at fair value | $ 50,149 | $ 51,098 | ||
Sustainable Infrastructure Investments, LLC | Percentage of Portfolio | Industry Concentration Risk | ||||
Schedule of Investments [Line Items] | ||||
Percentage of Portfolio | 3% | 2% | ||
[1]Security may be an obligation of one or more entities affiliated with the named company.[2]See Note 8 for additional information regarding the fair value of the Company’s financial instruments.[3]Security may be an obligation of one or more entities affiliated with the named company.[4]See Note 8 for additional information regarding the fair value of the Company’s financial instruments. |
Investment Portfolio - Individu
Investment Portfolio - Individual Loans in SIIJV’s portfolio (Details) $ in Thousands, $ in Thousands | Jun. 30, 2023 USD ($) portfolio_asset | Jun. 30, 2023 CAD ($) portfolio_asset | Dec. 31, 2022 USD ($) portfolio_asset | Dec. 31, 2022 CAD ($) portfolio_asset | Jan. 02, 2020 USD ($) | ||||
Investment, Identifier [Axis]: AIRRO (Mauritius) Holdings II, Energy—Power 1 | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 23,071 | [1],[2],[3],[4],[5] | |||||||
Investment, Identifier [Axis]: AIRRO (Mauritius) Holdings II, Energy—Power 2 | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 5,359 | [1],[2],[3],[4],[5],[6] | |||||||
Investment, Identifier [Axis]: AIRRO (Mauritius) Holdings II, Power 1 | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 22,734 | [7],[8],[9],[10],[11] | |||||||
Investment, Identifier [Axis]: AIRRO (Mauritius) Holdings II, Power 2 | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 5,359 | [7],[8],[9],[10],[11],[12] | |||||||
Investment, Identifier [Axis]: Acrisure, LLC, Insurance | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 9,975 | [1],[3] | |||||||
Investment, Identifier [Axis]: Aethon III BR LLC, Energy—Upstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 20,000 | [1],[2],[3] | |||||||
Investment, Identifier [Axis]: Aethon III BR LLC, Upstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 20,000 | [7],[8],[9],[13] | |||||||
Investment, Identifier [Axis]: Aethon United BR LP, Energy—Upstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 40,500 | [1],[3] | |||||||
Weighted average current interest rate on debt investments | 8.30% | [3],[14] | 8.30% | [3],[14] | |||||
Investment, Identifier [Axis]: Aethon United BR LP, Upstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 40,500 | [7],[9],[13] | |||||||
Weighted average current interest rate on debt investments | 8.30% | [9],[13] | 8.30% | [9],[13] | |||||
Investment, Identifier [Axis]: Allied Downhole Technologies, LLC, Energy—Service & Equipment 1 | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 7,553 | [1],[2],[3],[15] | |||||||
Investment, Identifier [Axis]: Allied Downhole Technologies, LLC, Energy—Service & Equipment 2 | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 2,500 | [1],[2],[3],[6],[15] | |||||||
Investment, Identifier [Axis]: Allied Downhole Technologies, LLC, Service & Equipment 1 | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 8,436 | [7],[8],[9],[13],[16] | |||||||
Investment, Identifier [Axis]: Allied Downhole Technologies, LLC, Service & Equipment 2 | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 2,500 | [7],[8],[9],[12],[16] | |||||||
Investment, Identifier [Axis]: Allied Universal Holdco, LLC, Consumer Services | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 7,980 | [1],[3] | |||||||
Investment, Identifier [Axis]: Allied Wireline Services, LLC, Energy—Service & Equipment | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 70,277 | [1],[2],[3],[15] | |||||||
Investment, Identifier [Axis]: Allied Wireline Services, LLC, Service & Equipment | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 63,888 | [7],[8],[9],[13],[16] | |||||||
Investment, Identifier [Axis]: Archrock Partners, L.P., Midstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 3,098 | [7],[9],[11],[13] | |||||||
Weighted average current interest rate on debt investments | 6.30% | [9],[11],[13] | 6.30% | [9],[11],[13] | |||||
Investment, Identifier [Axis]: Aveanna Healthcare LLC, Health Care Equipment & Services | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 9,975 | [1],[3] | |||||||
Investment, Identifier [Axis]: Brazos Delaware II LLC, Midstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 39,259 | [7],[9] | |||||||
Investment, Identifier [Axis]: CPV Maryland, LLC, Power | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 14,286 | [7],[9] | |||||||
Investment, Identifier [Axis]: CPV Shore Holdings LLC, Energy—Power | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 23,601 | [1],[3] | |||||||
Investment, Identifier [Axis]: CPV Shore Holdings LLC, Power | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 23,601 | [7],[9] | |||||||
Investment, Identifier [Axis]: Cimarron Energy Inc., Service & Equipment | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 7,500 | [7],[8],[9],[13],[17],[18] | |||||||
Investment, Identifier [Axis]: Citizen Energy Operating, LLC, Energy—Upstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 37,000 | [1],[2],[3] | |||||||
Investment, Identifier [Axis]: Citizen Energy Operating, LLC, Upstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 39,000 | [7],[8],[9],[13] | |||||||
Investment, Identifier [Axis]: Compass Power Generation LLC, Power | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 31,575 | [7],[9] | |||||||
Investment, Identifier [Axis]: Cox Oil Offshore, LLC, Volumetric Production Payments, Energy—Upstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 100,000 | [1],[2],[3],[19],[20] | |||||||
Weighted average current interest rate on debt investments | 12.70% | [2],[3],[14],[19],[20] | 12.70% | [2],[3],[14],[19],[20] | |||||
Investment, Identifier [Axis]: Cox Oil Offshore, LLC, Volumetric Production Payments, Upstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 100,000 | [7],[8],[9],[21],[22] | |||||||
Weighted average current interest rate on debt investments | 12.90% | [8],[9],[21],[22] | 12.90% | [8],[9],[21],[22] | |||||
Investment, Identifier [Axis]: EIF Van Hook Holdings, LLC, Midstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 26,882 | [7],[9] | |||||||
Investment, Identifier [Axis]: ERA II Minerals, LLC, Energy—Upstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 35,000 | [1],[2],[3] | |||||||
Investment, Identifier [Axis]: ERA II Minerals, LLC, Upstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 37,000 | [7],[8],[9],[13] | |||||||
Investment, Identifier [Axis]: Earthstone Energy Holdings, LLC, Upstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 11,400 | [7],[9],[11] | |||||||
Weighted average current interest rate on debt investments | 8% | [9],[11] | 8% | [9],[11] | |||||
Investment, Identifier [Axis]: Endeavor Energy Resources, L.P., Upstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 24,299 | [7],[9],[13] | |||||||
Weighted average current interest rate on debt investments | 5.80% | [9],[13] | 5.80% | [9],[13] | |||||
Investment, Identifier [Axis]: FR BR Holdings LLC, Energy—Midstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 81,041 | [1],[2],[3] | |||||||
Investment, Identifier [Axis]: FR BR Holdings LLC, Midstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 81,582 | [7],[8],[9],[13] | |||||||
Investment, Identifier [Axis]: FR XIII PAA Holdings HoldCo, LLC, Energy—Midstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 17,197 | [1],[2],[3] | |||||||
Investment, Identifier [Axis]: FR XIII PAA Holdings HoldCo, LLC, Midstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 17,347 | [7],[8],[9] | |||||||
Investment, Identifier [Axis]: First Brands Group, LLC, Automobiles & Components | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 6,982 | [1],[3] | |||||||
Investment, Identifier [Axis]: GIP II Blue Holding LP, Energy—Midstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 4,763 | [1],[3] | |||||||
Investment, Identifier [Axis]: GIP II Blue Holding LP, Midstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 5,918 | [7],[9] | |||||||
Investment, Identifier [Axis]: GasLog Ltd., Energy—Midstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 14,648 | [1],[2],[3],[5] | |||||||
Weighted average current interest rate on debt investments | 7.80% | [2],[3],[5],[14] | 7.80% | [2],[3],[5],[14] | |||||
Investment, Identifier [Axis]: GasLog Ltd., Midstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 14,648 | [7],[8],[9],[11] | |||||||
Investment, Identifier [Axis]: Generation Bridge LLC, Power 1 | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 7,432 | [7],[9] | |||||||
Investment, Identifier [Axis]: Generation Bridge LLC, Power 2 | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 163 | [7],[9] | |||||||
Investment, Identifier [Axis]: Goodnight Water Solutions, LLC, Energy—Midstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 14,741 | [1],[2],[3] | |||||||
Investment, Identifier [Axis]: Goodnight Water Solutions, LLC, Midstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 14,963 | [7],[8],[9] | |||||||
Investment, Identifier [Axis]: Guitar Center, Inc., Consumer Discretionary Distribution & Retail | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 10,000 | [1],[3] | |||||||
Weighted average current interest rate on debt investments | 8.50% | [3],[14] | 8.50% | [3],[14] | |||||
Investment, Identifier [Axis]: Hamilton Intermediate Holdings, LLC, Power | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 30,391 | [7],[8],[9] | |||||||
Investment, Identifier [Axis]: Hammerhead Resources Inc., Energy—Upstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 37,225 | [1],[2],[3],[5] | |||||||
Investment, Identifier [Axis]: Hammerhead Resources Inc., Upstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 35,118 | [7],[8],[9],[11],[13] | |||||||
Investment, Identifier [Axis]: Mavis Tire Express Services TopCo, LP, Consumer Discretionary Distribution & Retail | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 6,982 | [1],[3] | |||||||
Investment, Identifier [Axis]: Medallion Midland Acquisition LP, Midstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 7,920 | [7],[9] | |||||||
Investment, Identifier [Axis]: Meritage Midstream Services II, LLC, Energy—Midstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 21,857 | [1],[2],[3] | |||||||
Investment, Identifier [Axis]: Moss Creek Resources, LLC, Energy—Upstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 11,693 | [1],[3] | |||||||
Weighted average current interest rate on debt investments | 7.50% | [3],[14] | 7.50% | [3],[14] | |||||
Investment, Identifier [Axis]: Moss Creek Resources, LLC, Upstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 11,693 | [7],[9],[13] | |||||||
Weighted average current interest rate on debt investments | 7.50% | [9],[13] | 7.50% | [9],[13] | |||||
Investment, Identifier [Axis]: NGL Energy Partners, LP, Preferred Equity, Energy—Midstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Weighted average current interest rate on debt investments | 14.20% | [2],[3],[5],[14],[23],[24] | 14.20% | [2],[3],[5],[14],[23],[24] | |||||
Investment, Identifier [Axis]: NGL Energy Partners, LP, Preferred Equity, Midstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Weighted average current interest rate on debt investments | 14.20% | [8],[9],[11],[13],[17],[18] | 14.20% | [8],[9],[11],[13],[17],[18] | |||||
Investment, Identifier [Axis]: NRG Energy, Inc., Power | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 19,125 | [7],[9],[11] | |||||||
Weighted average current interest rate on debt investments | 3.90% | [9],[11] | 3.90% | [9],[11] | |||||
Investment, Identifier [Axis]: Navios Logistics Finance, Inc., Transportation | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 5,000 | [1],[3],[5] | |||||||
Weighted average current interest rate on debt investments | 10.80% | [3],[5],[14] | 10.80% | [3],[5],[14] | |||||
Investment, Identifier [Axis]: NuStar, Preferred Equity, Energy—Midstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Weighted average current interest rate on debt investments | 12.80% | [2],[3],[5],[14] | 12.80% | [2],[3],[5],[14] | |||||
Investment, Identifier [Axis]: NuStar, Preferred Equity, Midstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Weighted average current interest rate on debt investments | 12.80% | [8],[9],[11],[13] | 12.80% | [8],[9],[11],[13] | |||||
Investment, Identifier [Axis]: OE2 North, LLC, Midstream 1 | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 18,659 | [7],[8],[9] | |||||||
Investment, Identifier [Axis]: OE2 North, LLC, Midstream 2 | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 11,341 | [7],[8],[9],[12] | |||||||
Investment, Identifier [Axis]: Oryx Midstream Services Permian Basin LLC, Midstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 32,357 | [7],[9],[13] | |||||||
Investment, Identifier [Axis]: Parkway Generation LLC, Energy—Power 1 | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 5,760 | [1],[3] | |||||||
Investment, Identifier [Axis]: Parkway Generation LLC, Energy—Power 2 | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 43,689 | [1],[3] | |||||||
Investment, Identifier [Axis]: Parkway Generation LLC, Power 1 | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 5,760 | [7],[9] | |||||||
Investment, Identifier [Axis]: Parkway Generation LLC, Power 2 | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 43,910 | [7],[9] | |||||||
Investment, Identifier [Axis]: Peak Exploration & Production, LLC, Upstream 1 | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 13,545 | [7],[8],[9],[13] | |||||||
Investment, Identifier [Axis]: Peak Exploration & Production, LLC, Upstream 2 | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 1,505 | [7],[8],[9],[12] | |||||||
Investment, Identifier [Axis]: Permian Production Holdings, LLC, Energy—Upstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 4,815 | [1],[2],[3],[25] | |||||||
Weighted average current interest rate on debt investments | 7% | [2],[3],[14],[25] | 7% | [2],[3],[14],[25] | |||||
Investment, Identifier [Axis]: Permian Production Holdings, LLC, Upstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 4,767 | [7],[8],[9],[13],[26] | |||||||
Weighted average current interest rate on debt investments | 7% | [8],[9],[13],[26] | 7% | [8],[9],[13],[26] | |||||
Investment, Identifier [Axis]: Permian Resources Operating LLC, Upstream 1 | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 26,365 | [7],[9] | |||||||
Weighted average current interest rate on debt investments | 7.80% | [9] | 7.80% | [9] | |||||
Investment, Identifier [Axis]: Permian Resources Operating LLC, Upstream 2 | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 5,200 | [7],[9],[13] | |||||||
Weighted average current interest rate on debt investments | 5.90% | [9],[13] | 5.90% | [9],[13] | |||||
Investment, Identifier [Axis]: Pinnacle Midland Gas Holdco LLC, Energy—Midstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 9,370 | [1],[2],[3] | |||||||
Investment, Identifier [Axis]: Pinnacle Midland Gas Holdco LLC, Midstream 1 | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 9,370 | [7],[8],[9] | |||||||
Investment, Identifier [Axis]: Pinnacle Midland Gas Holdco LLC, Midstream 2 | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 2,477 | [7],[8],[9],[12] | |||||||
Investment, Identifier [Axis]: Plainfield Renewable Energy Holdings LLC, Energy—Power 1 | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 13,297 | [1],[2],[3],[23],[24] | |||||||
Weighted average current interest rate on debt investments | 6% | [2],[3],[14],[23],[24] | 6% | [2],[3],[14],[23],[24] | |||||
Investment, Identifier [Axis]: Plainfield Renewable Energy Holdings LLC, Energy—Power 2 | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 4,015 | [1],[2],[3],[23],[24] | |||||||
Investment, Identifier [Axis]: Plainfield Renewable Energy Holdings LLC, Letter of Credit, Energy—Power | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 2,709 | [1],[2],[3],[6] | |||||||
Weighted average current interest rate on debt investments | 10% | [2],[3],[6],[14] | 10% | [2],[3],[6],[14] | |||||
Investment, Identifier [Axis]: Plainfield Renewable Energy Holdings LLC, Letter of Credit, Power | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 2,709 | [7],[8],[9],[12] | |||||||
Weighted average current interest rate on debt investments | 10% | [8],[9],[12] | 10% | [8],[9],[12] | |||||
Investment, Identifier [Axis]: Plainfield Renewable Energy Holdings LLC, Power 1 | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 12,121 | [7],[8],[9],[13] | |||||||
Weighted average current interest rate on debt investments | 6% | [8],[9],[13] | 6% | [8],[9],[13] | |||||
Investment, Identifier [Axis]: Plainfield Renewable Energy Holdings LLC, Power 2 | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 3,643 | [7],[8],[9],[13] | |||||||
Investment, Identifier [Axis]: Potomac Energy Center, LLC, Energy—Power | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 58,164 | [1],[2],[3] | |||||||
Investment, Identifier [Axis]: Potomac Energy Center, LLC, Power | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 58,459 | [7],[8],[9] | |||||||
Investment, Identifier [Axis]: Ranger Oil Corp., Upstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 29,772 | [7],[9],[11] | |||||||
Weighted average current interest rate on debt investments | 9.30% | [9],[11] | 9.30% | [9],[11] | |||||
Investment, Identifier [Axis]: ST EIP Holdings Inc., Energy—Midstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 10,473 | [1],[2],[3] | |||||||
Weighted average current interest rate on debt investments | 6.30% | [2],[3],[14] | 6.30% | [2],[3],[14] | |||||
Investment, Identifier [Axis]: ST EIP Holdings Inc., Midstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 10,526 | [7],[8],[9] | |||||||
Weighted average current interest rate on debt investments | 6.30% | [8],[9] | 6.30% | [8],[9] | |||||
Investment, Identifier [Axis]: Segreto Power Holdings, LLC, Preferred Equity, Power | |||||||||
Schedule of Investments [Line Items] | |||||||||
Weighted average current interest rate on debt investments | 13.10% | [8],[9],[13],[17],[18],[27] | 13.10% | [8],[9],[13],[17],[18],[27] | |||||
Investment, Identifier [Axis]: SilverBow Resources, Inc., Energy—Upstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 14,250 | [1],[2],[3],[5] | |||||||
Investment, Identifier [Axis]: SilverBow Resources, Inc., Upstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 14,250 | [7],[8],[9],[11],[13] | |||||||
Investment, Identifier [Axis]: Sitio Royalties Operating Partnership, LP, Energy—Upstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 18,500 | [1],[2],[3],[5] | |||||||
Investment, Identifier [Axis]: Sitio Royalties Operating Partnership, LP, Upstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 19,500 | [7],[8],[9],[11],[13] | |||||||
Investment, Identifier [Axis]: Suburban Propane Partners LP, Midstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 7,590 | [7],[9],[11],[13] | |||||||
Weighted average current interest rate on debt investments | 5% | [9],[11],[13] | 5% | [9],[11],[13] | |||||
Investment, Identifier [Axis]: Sustainable Infrastructure Investments, LLC, Energy—Power | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 60,603 | [1],[2],[3],[5],[15],[23] | |||||||
Investment, Identifier [Axis]: Sustainable Infrastructure Investments, LLC, Power | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 60,603 | [8],[9],[16],[28] | |||||||
Investment, Identifier [Axis]: TKC Holdings, Inc., Consumer Staples Distribution & Retail | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 4,747 | [1],[3] | |||||||
Investment, Identifier [Axis]: Tallgrass Energy Partners, LP, Midstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 19,761 | [7],[9],[13] | |||||||
Weighted average current interest rate on debt investments | 6% | [9],[13] | 6% | [9],[13] | |||||
Investment, Identifier [Axis]: Tenrgys, LLC, Energy—Upstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 20,537 | [1],[2],[3] | |||||||
Investment, Identifier [Axis]: Tenrgys, LLC, Upstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 20,537 | [7],[8],[9],[13] | |||||||
Investment, Identifier [Axis]: Traverse Midstream Partners LLC, Midstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 28,436 | [7],[9] | |||||||
Investment, Identifier [Axis]: TruGreen, LP, Commercial & Professional Services | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 4,987 | [1],[3] | |||||||
Investment, Identifier [Axis]: USA Compression Partners, LP, Preferred Equity, Energy—Midstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Weighted average current interest rate on debt investments | 9.80% | [2],[3],[5],[14] | 9.80% | [2],[3],[5],[14] | |||||
Investment, Identifier [Axis]: USA Compression Partners, LP, Preferred Equity, Midstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Weighted average current interest rate on debt investments | 9.80% | [8],[9] | 9.80% | [8],[9] | |||||
Investment, Identifier [Axis]: Warren Resources, Inc., Energy—Upstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 23,703 | [1],[2],[3],[15] | |||||||
Investment, Identifier [Axis]: Warren Resources, Inc., Upstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 23,584 | [7],[8],[9],[16] | |||||||
Investment, Identifier [Axis]: Wattbridge Inc., Energy—Power | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 42,938 | [1],[2],[3] | |||||||
Investment, Identifier [Axis]: Wattbridge Inc., Power | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 42,500 | [7],[8],[9] | |||||||
Sustainable Infrastructure Investments, LLC | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 264,692 | $ 274,088 | |||||||
Number of portfolio assets in SIIJV | portfolio_asset | 9 | 9 | 9 | 9 | |||||
Sustainable Infrastructure Investments, LLC | Investment, Identifier [Axis]: Alianca Transportadora de Gas Participacoes S.A., Midstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 70,610 | $ 73,707 | |||||||
Sustainable Infrastructure Investments, LLC | Investment, Identifier [Axis]: Blue Heron Intermediate Holdco I, LLC, Midstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 31,244 | 31,832 | |||||||
Sustainable Infrastructure Investments, LLC | Investment, Identifier [Axis]: Cedar Creek II LLC, Renewables | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 8,160 | 8,710 | |||||||
Sustainable Infrastructure Investments, LLC | Investment, Identifier [Axis]: Copper Mountain Solar 3, LLC, Renewables | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 17,105 | 17,804 | |||||||
Sustainable Infrastructure Investments, LLC | Investment, Identifier [Axis]: FLNG Liquefaction 2, LLC, Midstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 27,375 | 28,170 | |||||||
Sustainable Infrastructure Investments, LLC | Investment, Identifier [Axis]: Largest Portfolio Company Investment | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 70,610 | 73,707 | |||||||
Sustainable Infrastructure Investments, LLC | Investment, Identifier [Axis]: Meikle Wind Energy, LP, Renewables | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 15,471 | $ 16,030 | |||||||
Sustainable Infrastructure Investments, LLC | Investment, Identifier [Axis]: NES Hercules Class B Member, LLC, Renewables | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 24,317 | 24,487 | |||||||
Sustainable Infrastructure Investments, LLC | Investment, Identifier [Axis]: ST EIP Holdco LLC, Midstream | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | 58,124 | 58,673 | |||||||
Sustainable Infrastructure Investments, LLC | Investment, Identifier [Axis]: Seine Funding, LLC | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 634,103 | ||||||||
Sustainable Infrastructure Investments, LLC | Investment, Identifier [Axis]: Top of the World Wind Energy LLC, Renewables | |||||||||
Schedule of Investments [Line Items] | |||||||||
Principal amount | $ 15,854 | $ 18,373 | |||||||
Sustainable Infrastructure Investments, LLC | Weighted Average | |||||||||
Schedule of Investments [Line Items] | |||||||||
Weighted average current interest rate on debt investments | 7.60% | 7.60% | 6.96% | 6.96% | |||||
[1]Denominated in U.S. dollars, unless otherwise noted.[2]Security is classified as Level 3 in the Company’s fair value hierarchy (see Note 8).[3]Security may be an obligation of one or more entities affiliated with the named company.[4]Security or portion thereof held within FS Power Investments II, LLC, a wholly-owned subsidiary of the Company.[5]The investment is not a qualifying asset under the Investment Company Act of 1940, as amended, or the 1940 Act. A business development company may not acquire any asset other than a qualifying asset, unless, at the time the acquisition is made, qualifying assets represent at least 70% of the business development company’s total assets. As of June 30, 2023 , 73.7% of the Company’s total assets represented qualifying assets. June 30, 2023 , the three-month London Interbank Offered Rate, or LIBOR, or L, was 5.55% and the Secured Overnight Financing Rate, or SOFR, or S, was 5.27%. PIK means paid-in-kind. PIK income accruals may be adjusted based on the fair value of the underlying investment. Variable rate securities with no floor rate use the respective benchmark rate in all cases. Portfolio Company Fair Value at December 31, 2022 Gross Additions (1) Gross Reductions (2) Net Realized Gain (Loss) Net Change in Unrealized Appreciation (Depreciation) Fair Value at June 30, 2023 Interest Income (3) PIK Income (3) Senior Secured Loans—First Lien Allied Downhole Technologies, LLC (4) $ 8,436 $ 113 $ (996) $ — $ — $ 7,553 $ 207 $ 113 Allied Wireline Services, LLC 63,888 6,389 — — — 70,277 3,223 — Warren Resources, Inc. 23,584 119 — — — 23,703 1,648 119 Sustainable Infrastructure Investments, LLC Sustainable Infrastructure Investments, LLC 51,098 — — — (949) 50,149 — — Equity/Other Allied Wireline Services, LLC, Common Equity 10,463 — — — (2,395) 8,068 — — Allied Wireline Services, LLC, Warrants — — — — — — — — Warren Resources, Inc., Common Equity 36,982 — — — (7,551) 29,431 — — $ 194,451 $ 6,621 $ (996) $ — $ (10,895) $ 189,181 $ 5,078 $ 232 _____________ (1) Gross additions may include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, the amortization of unearned income, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company into this category from a different category. (2) Gross reductions may include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company out of this category into a different category. (3) Interest and PIK income presented for the six months ended June 30, 2023. ( 4) Security includes a partially unfunded commitment with amortized cost of $2,500 and fair value of $2,500. Under the 1940 Act, the Company generally is deemed to “control” a portfolio company if it owns more than 25% of the portfolio company’s voting securities or it has the power to exercise control over the management or policies of such portfolio company. As of December 31, 2022 , the Company held investments in portfolio companies of which it is deemed to be an “affiliated person” of and deemed to “control.” The following table presents certain information with respect to investments in portfolio companies of which the Company was deemed to be an affiliated person and deemed to control as of December 31, 2022 : Portfolio Company Fair Value at December 31, 2021 Gross Additions (1) Gross Reductions (2) Net Realized Gain (Loss) Net Change in Unrealized Appreciation (Depreciation) Fair Value at December 31, 2022 Interest Income (3) PIK Income (3) Dividend Income (3) Senior Secured Loans—First Lien Allied Downhole Technologies, LLC (4) $ 7,782 $ 654 $ — $ — $ — $ 8,436 $ — $ 654 $ — Allied Wireline Services, LLC 46,339 5,808 — — 11,741 63,888 316 5,808 — MECO IV Holdco, LLC 22,745 455 (23,200) — — — — 455 — Warren Resources, Inc. 23,688 237 (341) — — 23,584 2,620 237 — Sustainable Infrastructure Investments, LLC Sustainable Infrastructure Investments, LLC 50,770 — — — 328 51,098 — — 735 Equity/Other Allied Wireline Services, LLC, Common Equity — — — — 10,463 10,463 — — — Allied Wireline Services, LLC, Warrants — — — — — — — — — MECO IV Holdco, LLC, Class A-1 Units 4,181 — (18,060) 15,899 (2,020) — — — — Warren Resources, Inc., Common Equity 25,854 — — — 11,128 36,982 — — — $ 181,359 $ 7,154 $ (41,601) $ 15,899 $ 31,640 $ 194,451 $ 2,936 $ 7,154 $ 735 _____________ (1) Gross additions may include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, the amortization of unearned income, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company into this category from a different category. (2) Gross reductions may include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company out of this category into a different category. (3) Interest, PIK and dividend income presented for the year ended December 31, 2022. ( 4) Security includes a partially unfunded commitment with amortized cost of $2,500 and fair value of $2,500. December 31, 2022 . Under the 1940 Act, the Company generally is deemed to be an “affiliated person” of a portfolio company if it owns 5% or more of the portfolio company’s voting securities and generally is deemed to “control” a portfolio company if it owns more than 25% of the portfolio company’s voting securities or it has the power to exercise control over the management or policies of such portfolio company. As of June 30, 2023, the Company held investments in portfolio companies of which it is deemed to be an “affiliated person” but is not deemed to “control”. The following table presents certain information with respect to investments in portfolio companies of which the Company was deemed to be an affiliated person as of June 30, 2023: Portfolio Company Fair Value at December 31, 2022 Gross Additions (1) Gross Reductions (2) Net Realized Gain (Loss) Net Change in Unrealized Appreciation (Depreciation) Fair Value at June 30, 2023 Interest Income (3) PIK Income (3) Senior Secured Loans—First Lien Permian Production Holdings, LLC $ 4,767 $ 113 $ — $ — $ (65) $ 4,815 $ 324 $ 48 Equity/Other GWP Midstream Holdco, LLC, Common Equity 5,044 — — — (3,659) 1,385 — — Harvest Oil & Gas Corp., Common Equity 810 — (641) — 641 810 — — Limetree Bay Energy, LLC, Class A Units 1,885 83 — (21,541) 19,573 — — — Permian Production Holdings, LLC, Common Equity 11,420 — — — (5,710) 5,710 — — Ridgeback Resources Inc., Common Equity 41,851 — (35,240) (11,359) 4,748 — — — Telpico, LLC, Common Equity — — — — — — — — $ 65,777 $ 196 $ (35,881) $ (32,900) $ 15,528 $ 12,720 $ 324 $ 48 _____________ (1) Gross additions may include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, the amortization of unearned income, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company into this category from a different category. (2) Gross reductions may include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company out of this category into a different category. (3) Interest and PIK income presented for the six months ended June 30, 2023. Under the 1940 Act, the Company generally is deemed to be an “affiliated person” of a portfolio company if it owns 5% or more of the portfolio company’s voting securities and generally is deemed to “control” a portfolio company if it owns more than 25% of the portfolio company’s voting securities or it has the power to exercise control over the management or policies of such portfolio company. As of December 31, 2022 , the Company held investments in portfolio companies of which it is deemed to be an “affiliated person” but is not deemed to “control”. The following table presents certain information with respect to investments in portfolio companies of which the Company was deemed to be an affiliated person as of December 31, 2022 : Portfolio Company Fair Value at December 31, 2021 Gross Additions (1) Gross Reductions (2) Net Realized Gain (Loss) Net Change in Unrealized Appreciation (Depreciation) Fair Value at December 31, 2022 Interest Income (3) PIK Income (3) Fee Income (3) Dividend Income (3) Senior Secured Loans—First Lien Limetree Bay Energy, LLC $ 3,166 $ — $ (1,587) $ (12,756) $ 11,177 $ — $ — $ — $ — $ — Permian Production Holdings, LLC 7,889 697 (3,674) 551 (696) 4,767 570 105 — — Senior Secured Bonds Great Western Petroleum, LLC 58,055 96 (55,096) 1,087 (4,142) — 2,649 — 7,268 — Equity/Other Great Western Petroleum, LLC, Common Equity 40,731 — (84,871) 54,081 (9,941) — — — — — GWP Midstream Holdco, LLC, Common Equity — 6,681 — — (1,637) 5,044 — — — — Harvest Oil & Gas Corp., Common Equity 2,836 — (743) — (1,283) 810 — — — — Limetree Bay Energy, LLC, Class A Units 6,046 1,795 — — (5,956) 1,885 — — — — Permian Production Holdings, LLC, Common Equity 8,829 4 — — 2,587 11,420 — — — 1,726 Ridgeback Resources Inc., Common Equity 48,356 — (12,559) 173 5,881 41,851 — — — 3,691 Telpico, LLC, Common Equity — — — — — — — — — — $ 175,908 $ 9,273 $ (158,530) $ 43,136 $ (4,010) $ 65,777 $ 3,219 $ 105 $ 7,268 $ 5,417 _____________ (1) Gross additions may include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, the amortization of unearned income, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company into this category from a different category. (2) Gross reductions may include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company out of this category into a different category. (3) Interest, PIK, fee and dividend income presented for the year ended December 31, 2022. |
Investment Portfolio - Sustaina
Investment Portfolio - Sustainable Infrastructure Investments, LLC Portfolio (Details) $ in Thousands, $ in Thousands | Jun. 30, 2023 USD ($) | Jun. 30, 2023 CAD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2022 CAD ($) | Dec. 31, 2021 USD ($) | Jan. 02, 2020 USD ($) | ||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | $ 1,406,338 | [1] | $ 1,922,940 | [2] | ||||||||
Investments, at fair value | $ 1,495,602 | [1],[3] | $ 2,047,115 | [2],[4] | ||||||||
Percent of net assets | 89% | [1] | 89% | [1] | 116.70% | [2] | 116.70% | [2] | ||||
London Interbank Offered Rate (LIBOR) | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Investment, variable rate | 5.55% | 5.55% | 4.77% | 4.77% | ||||||||
Secured Overnight Financing Rate | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Investment, variable rate | 5.27% | 5.27% | 4.59% | 4.59% | ||||||||
Net Senior Secured Loans—First Lien | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | $ 531,752 | [1] | $ 702,842 | [2] | ||||||||
Investments, at fair value | $ 522,029 | [1],[3] | $ 706,646 | [2],[4] | ||||||||
Percent of net assets | 31.10% | [1] | 31.10% | [1] | 40.30% | [2] | 40.30% | [2] | ||||
Investment, Identifier [Axis]: AIRRO (Mauritius) Holdings II, Energy—Power 1 | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [1],[5],[6],[7],[8] | 4% | 4% | |||||||||
Principal amount | [1],[6],[7],[8],[9] | $ 23,071 | ||||||||||
Amortized Cost | [1],[6],[7],[8] | 20,419 | ||||||||||
Investments, at fair value | [1],[3],[6],[7],[8] | $ 23,243 | ||||||||||
Investment, Identifier [Axis]: AIRRO (Mauritius) Holdings II, Energy—Power 2 | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [1],[5],[6],[7],[8],[10] | 4% | 4% | |||||||||
Principal amount | [1],[6],[7],[8],[9],[10] | $ 5,359 | ||||||||||
Amortized Cost | [1],[6],[7],[8],[10] | 5,359 | ||||||||||
Investments, at fair value | [1],[3],[6],[7],[8],[10] | 5,399 | ||||||||||
Investment, Identifier [Axis]: AIRRO (Mauritius) Holdings II, Power 1 | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [2],[11],[12],[13] | 4% | 4% | |||||||||
Principal amount | [2],[11],[12],[13],[14] | $ 22,734 | ||||||||||
Amortized Cost | [2],[11],[12],[13] | 20,082 | ||||||||||
Investments, at fair value | [2],[4],[11],[12],[13] | $ 23,519 | ||||||||||
Investment, Identifier [Axis]: AIRRO (Mauritius) Holdings II, Power 2 | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [2],[11],[12],[13],[15] | 4% | 4% | |||||||||
Principal amount | [2],[11],[12],[13],[14],[15] | $ 5,359 | ||||||||||
Amortized Cost | [2],[11],[12],[13],[15] | 5,359 | ||||||||||
Investments, at fair value | [2],[4],[11],[12],[13],[15] | 5,545 | ||||||||||
Investment, Identifier [Axis]: AIRRO (Mauritius) Holdings II, Warrants, Strike: $1.00, Energy—Power | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [1],[6],[7],[8],[16] | 2,652 | ||||||||||
Investments, at fair value | [1],[3],[6],[7],[8],[16] | 2,223 | ||||||||||
Investment, Identifier [Axis]: AIRRO (Mauritius) Holdings II, Warrants, Strike: $1.00, Power | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [2],[11],[12],[13],[17],[18] | 2,652 | ||||||||||
Investments, at fair value | [2],[4],[11],[12],[13],[17],[18] | 1,630 | ||||||||||
Investment, Identifier [Axis]: Abaco Energy Technologies LLC, Common Equity, Energy—Service & Equipment | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [1],[6],[16] | 6,944 | ||||||||||
Investments, at fair value | [1],[3],[6],[16] | 1,243 | ||||||||||
Investment, Identifier [Axis]: Abaco Energy Technologies LLC, Common Equity, Service & Equipment | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [2],[11],[17],[18] | 6,944 | ||||||||||
Investments, at fair value | [2],[4],[11],[17],[18] | 1,219 | ||||||||||
Investment, Identifier [Axis]: Abaco Energy Technologies LLC, Preferred Equity, Energy—Service & Equipment | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [1],[6],[16] | 1,447 | ||||||||||
Investments, at fair value | [1],[3],[6],[16] | $ 8,827 | ||||||||||
Investment, Identifier [Axis]: Abaco Energy Technologies LLC, Preferred Equity, Service & Equipment | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [2],[11],[17],[18] | 1,447 | ||||||||||
Investments, at fair value | [2],[4],[11],[17],[18] | $ 8,321 | ||||||||||
Investment, Identifier [Axis]: Acrisure, LLC, Insurance | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [1],[5] | 5.75% | 5.75% | |||||||||
Principal amount | [1],[9] | $ 9,975 | ||||||||||
Amortized Cost | [1] | 10,044 | ||||||||||
Investments, at fair value | [1],[3] | $ 10,062 | ||||||||||
Investment, Identifier [Axis]: Aethon III BR LLC, Energy—Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [1],[5],[6] | 7.50% | 7.50% | |||||||||
Principal amount | [1],[6],[9] | $ 20,000 | ||||||||||
Amortized Cost | [1],[6] | 19,877 | ||||||||||
Investments, at fair value | [1],[3],[6] | 20,081 | ||||||||||
Investment, Identifier [Axis]: Aethon III BR LLC, Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [2],[11],[18] | 7.50% | 7.50% | |||||||||
Principal amount | [2],[11],[14],[18] | $ 20,000 | ||||||||||
Amortized Cost | [2],[11],[18] | 19,848 | ||||||||||
Investments, at fair value | [2],[4],[11],[18] | 20,138 | ||||||||||
Investment, Identifier [Axis]: Aethon United BR LP, Energy—Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [1],[9] | 40,500 | ||||||||||
Amortized Cost | [1] | 40,500 | ||||||||||
Investments, at fair value | [1],[3] | 39,828 | ||||||||||
Investment, Identifier [Axis]: Aethon United BR LP, Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [2],[14],[18] | 40,500 | ||||||||||
Amortized Cost | [2],[18] | 40,500 | ||||||||||
Investments, at fair value | [2],[4],[18] | 40,221 | ||||||||||
Investment, Identifier [Axis]: AirSwift Holdings, Ltd., Common Equity, Commercial & Professional Services | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [1],[6],[8],[16] | 6,029 | ||||||||||
Investments, at fair value | [1],[3],[6],[8],[16] | 3,038 | ||||||||||
Investment, Identifier [Axis]: Allied Downhole Technologies, LLC | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Investments, at fair value | 7,553 | [19] | 8,436 | [19],[20] | $ 7,782 | [20] | ||||||
Investment, Identifier [Axis]: Allied Downhole Technologies, LLC, Energy—Service & Equipment 1 | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [1],[6],[9],[21] | 7,553 | ||||||||||
Amortized Cost | [1],[6],[21] | 7,553 | ||||||||||
Investments, at fair value | [1],[3],[6],[21] | 7,553 | ||||||||||
Investment, Identifier [Axis]: Allied Downhole Technologies, LLC, Energy—Service & Equipment 2 | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [1],[6],[9],[10],[21] | 2,500 | ||||||||||
Amortized Cost | [1],[6],[10],[21] | 2,500 | ||||||||||
Investments, at fair value | [1],[3],[6],[10],[21] | $ 2,500 | ||||||||||
Investment, Identifier [Axis]: Allied Downhole Technologies, LLC, Service & Equipment 1 | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [2],[11],[14],[18],[22] | 8,436 | ||||||||||
Amortized Cost | [2],[11],[18],[22] | 8,436 | ||||||||||
Investments, at fair value | [2],[4],[11],[18],[22] | 8,436 | ||||||||||
Investment, Identifier [Axis]: Allied Downhole Technologies, LLC, Service & Equipment 2 | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [2],[11],[14],[15],[22] | 2,500 | ||||||||||
Amortized Cost | [2],[11],[15],[22] | 2,500 | ||||||||||
Investments, at fair value | [2],[4],[11],[15],[22] | 2,500 | ||||||||||
Investment, Identifier [Axis]: Allied Universal Holdco, LLC, Consumer Services | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [1],[5] | 3.75% | 3.75% | |||||||||
Principal amount | [1],[9] | $ 7,980 | ||||||||||
Amortized Cost | [1] | 7,671 | ||||||||||
Investments, at fair value | [1],[3] | 7,771 | ||||||||||
Investment, Identifier [Axis]: Allied Wireline Services, LLC | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Investments, at fair value | 70,277 | 63,888 | 46,339 | |||||||||
Investment, Identifier [Axis]: Allied Wireline Services, LLC, Common Equity | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Investments, at fair value | 8,068 | 10,463 | 0 | |||||||||
Investment, Identifier [Axis]: Allied Wireline Services, LLC, Common Equity, Energy—Service & Equipment | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [1],[6],[16],[21],[23] | 1,527 | ||||||||||
Investments, at fair value | [1],[3],[6],[16],[21],[23] | 8,068 | ||||||||||
Investment, Identifier [Axis]: Allied Wireline Services, LLC, Common Equity, Service & Equipment | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [2],[11],[17],[18],[22],[24] | 1,527 | ||||||||||
Investments, at fair value | [2],[4],[11],[17],[18],[22],[24] | 10,463 | ||||||||||
Investment, Identifier [Axis]: Allied Wireline Services, LLC, Energy—Service & Equipment | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [1],[6],[9],[21] | 70,277 | ||||||||||
Amortized Cost | [1],[6],[21] | 70,277 | ||||||||||
Investments, at fair value | [1],[3],[6],[21] | 70,277 | ||||||||||
Investment, Identifier [Axis]: Allied Wireline Services, LLC, Service & Equipment | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [2],[11],[14],[18],[22] | 63,888 | ||||||||||
Amortized Cost | [2],[11],[18],[22] | 63,888 | ||||||||||
Investments, at fair value | [2],[4],[11],[18],[22] | 63,888 | ||||||||||
Investment, Identifier [Axis]: Allied Wireline Services, LLC, Warrants | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Investments, at fair value | 0 | 0 | 0 | |||||||||
Investment, Identifier [Axis]: Allied Wireline Services, LLC, Warrants, Energy—Service & Equipment | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [1],[6],[16],[21],[23] | 0 | ||||||||||
Investments, at fair value | [1],[3],[6],[16],[21],[23] | 0 | ||||||||||
Investment, Identifier [Axis]: Allied Wireline Services, LLC, Warrants, Service & Equipment | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [2],[11],[17],[18],[22],[24] | 0 | ||||||||||
Investments, at fair value | [2],[4],[11],[17],[18],[22],[24] | 0 | ||||||||||
Investment, Identifier [Axis]: Archrock Partners, L.P., Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [2],[13],[14],[18] | 3,098 | ||||||||||
Amortized Cost | [2],[13],[18] | 3,168 | ||||||||||
Investments, at fair value | [2],[4],[13],[18] | 2,840 | ||||||||||
Investment, Identifier [Axis]: Arena Energy, LP, Contingent Value Rights, Energy—Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [1],[6] | 351 | ||||||||||
Investments, at fair value | [1],[3],[6] | 488 | ||||||||||
Investment, Identifier [Axis]: Arena Energy, LP, Contingent Value Rights, Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [2],[11],[17],[18] | 351 | ||||||||||
Investments, at fair value | [2],[4],[11],[17],[18] | 858 | ||||||||||
Investment, Identifier [Axis]: Ascent Resources Utica Holdings, LLC, Common Equity, Energy—Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [1],[6],[16],[23] | 44,700 | ||||||||||
Investments, at fair value | [1],[3],[6],[16],[23] | $ 31,895 | ||||||||||
Investment, Identifier [Axis]: Ascent Resources Utica Holdings, LLC, Common Equity, Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [2],[11],[17],[18],[24] | 44,700 | ||||||||||
Investments, at fair value | [2],[4],[11],[17],[18],[24] | $ 52,340 | ||||||||||
Investment, Identifier [Axis]: Aveanna Healthcare LLC, Health Care Equipment & Services | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [1],[5] | 3.75% | 3.75% | |||||||||
Principal amount | [1],[9] | $ 9,975 | ||||||||||
Amortized Cost | [1] | 8,583 | ||||||||||
Investments, at fair value | [1],[3] | $ 8,562 | ||||||||||
Investment, Identifier [Axis]: Brazos Delaware II LLC, Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [2] | 4% | 4% | |||||||||
Principal amount | [2],[14] | $ 39,259 | ||||||||||
Amortized Cost | [2] | 38,085 | ||||||||||
Investments, at fair value | [2],[4] | $ 39,137 | ||||||||||
Investment, Identifier [Axis]: CPV Maryland, LLC, Power | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [2] | 4% | 4% | |||||||||
Principal amount | [2],[14] | $ 14,286 | ||||||||||
Amortized Cost | [2] | 14,146 | ||||||||||
Investments, at fair value | [2],[4] | $ 14,155 | ||||||||||
Investment, Identifier [Axis]: CPV Shore Holdings LLC, Energy—Power | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [1],[5] | 3.75% | 3.75% | |||||||||
Principal amount | [1],[9] | $ 23,601 | ||||||||||
Amortized Cost | [1] | 22,880 | ||||||||||
Investments, at fair value | [1],[3] | $ 21,765 | ||||||||||
Investment, Identifier [Axis]: CPV Shore Holdings LLC, Power | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [2] | 3.75% | 3.75% | |||||||||
Principal amount | [2],[14] | $ 23,601 | ||||||||||
Amortized Cost | [2] | 22,760 | ||||||||||
Investments, at fair value | [2],[4] | 21,935 | ||||||||||
Investment, Identifier [Axis]: Cimarron Energy Holdco Inc., Common Equity, Service & Equipment | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [2],[11],[17],[18] | 3,950 | ||||||||||
Investments, at fair value | [2],[4],[11],[17],[18] | 0 | ||||||||||
Investment, Identifier [Axis]: Cimarron Energy Holdco Inc., Participation Option, Service & Equipment | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [2],[11],[17],[18] | 1,289 | ||||||||||
Investments, at fair value | [2],[4],[11],[17],[18] | $ 0 | ||||||||||
Investment, Identifier [Axis]: Cimarron Energy Inc., Service & Equipment | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [2],[11],[17],[18],[25] | 9% | 9% | |||||||||
Principal amount | [2],[11],[14],[17],[18],[25] | $ 7,500 | ||||||||||
Amortized Cost | [2],[11],[17],[18],[25] | 6,563 | ||||||||||
Investments, at fair value | [2],[4],[11],[17],[18],[25] | $ 3,713 | ||||||||||
Investment, Identifier [Axis]: Citizen Energy Operating, LLC, Energy—Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [1],[5],[6] | 7.65% | 7.65% | |||||||||
Principal amount | [1],[6],[9] | $ 37,000 | ||||||||||
Amortized Cost | [1],[6] | 36,491 | ||||||||||
Investments, at fair value | [1],[3],[6] | 36,360 | ||||||||||
Investment, Identifier [Axis]: Citizen Energy Operating, LLC, Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [2],[11],[18] | 7.65% | 7.65% | |||||||||
Principal amount | [2],[11],[14],[18] | $ 39,000 | ||||||||||
Amortized Cost | [2],[11],[18] | 38,440 | ||||||||||
Investments, at fair value | [2],[4],[11],[18] | $ 38,240 | ||||||||||
Investment, Identifier [Axis]: Compass Power Generation LLC, Power | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [2] | 4.25% | 4.25% | |||||||||
Principal amount | [2],[14] | $ 31,575 | ||||||||||
Amortized Cost | [2] | 30,712 | ||||||||||
Investments, at fair value | [2],[4] | 31,384 | ||||||||||
Investment, Identifier [Axis]: Cox Oil Offshore, LLC, Volumetric Production Payments, Energy—Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [1],[6],[9],[26],[27] | 100,000 | ||||||||||
Amortized Cost | [1],[6],[26],[27] | 6,120 | ||||||||||
Investments, at fair value | [1],[3],[6],[26],[27] | $ 8,507 | ||||||||||
Investment, Identifier [Axis]: Cox Oil Offshore, LLC, Volumetric Production Payments, Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [2],[11],[14],[28],[29] | 100,000 | ||||||||||
Amortized Cost | [2],[11],[28],[29] | 11,081 | ||||||||||
Investments, at fair value | [2],[4],[11],[28],[29] | $ 20,683 | ||||||||||
Investment, Identifier [Axis]: EIF Van Hook Holdings, LLC, Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [2] | 5.25% | 5.25% | |||||||||
Principal amount | [2],[14] | $ 26,882 | ||||||||||
Amortized Cost | [2] | 26,609 | ||||||||||
Investments, at fair value | [2],[4] | $ 26,075 | ||||||||||
Investment, Identifier [Axis]: ERA II Minerals, LLC, Energy—Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [1],[5],[6] | 6.25% | 6.25% | |||||||||
Principal amount | [1],[6],[9] | $ 35,000 | ||||||||||
Amortized Cost | [1],[6] | 34,658 | ||||||||||
Investments, at fair value | [1],[3],[6] | $ 34,636 | ||||||||||
Investment, Identifier [Axis]: ERA II Minerals, LLC, Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [2],[11],[18] | 6.25% | 6.25% | |||||||||
Principal amount | [2],[11],[14],[18] | $ 37,000 | ||||||||||
Amortized Cost | [2],[11],[18] | 36,601 | ||||||||||
Investments, at fair value | [2],[4],[11],[18] | 36,656 | ||||||||||
Investment, Identifier [Axis]: Earthstone Energy Holdings, LLC, Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [2],[13],[14] | 11,400 | ||||||||||
Amortized Cost | [2],[13] | 11,400 | ||||||||||
Investments, at fair value | [2],[4],[13] | 10,920 | ||||||||||
Investment, Identifier [Axis]: Endeavor Energy Resources, L.P., Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [2],[14],[18] | 24,299 | ||||||||||
Amortized Cost | [2],[18] | 25,388 | ||||||||||
Investments, at fair value | [2],[4],[18] | $ 23,306 | ||||||||||
Investment, Identifier [Axis]: FR BR Holdings LLC, Energy—Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [1],[5],[6] | 6.50% | 6.50% | |||||||||
Principal amount | [1],[6],[9] | $ 81,041 | ||||||||||
Amortized Cost | [1],[6] | 80,414 | ||||||||||
Investments, at fair value | [1],[3],[6] | $ 81,008 | ||||||||||
Investment, Identifier [Axis]: FR BR Holdings LLC, Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [2],[11],[18] | 6.50% | 6.50% | |||||||||
Principal amount | [2],[11],[14],[18] | $ 81,582 | ||||||||||
Amortized Cost | [2],[11],[18] | 80,371 | ||||||||||
Investments, at fair value | [2],[4],[11],[18] | $ 81,361 | ||||||||||
Investment, Identifier [Axis]: FR XIII PAA Holdings HoldCo, LLC, Energy—Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [1],[5],[6] | 7.50% | 7.50% | |||||||||
Principal amount | [1],[6],[9] | $ 17,197 | ||||||||||
Amortized Cost | [1],[6] | 16,978 | ||||||||||
Investments, at fair value | [1],[3],[6] | $ 17,233 | ||||||||||
Investment, Identifier [Axis]: FR XIII PAA Holdings HoldCo, LLC, Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [2],[11] | 7.50% | 7.50% | |||||||||
Principal amount | [2],[11],[14] | $ 17,347 | ||||||||||
Amortized Cost | [2],[11] | 17,103 | ||||||||||
Investments, at fair value | [2],[4],[11] | $ 17,406 | ||||||||||
Investment, Identifier [Axis]: First Brands Group, LLC, Automobiles & Components | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [1],[5] | 5% | 5% | |||||||||
Principal amount | [1],[9] | $ 6,982 | ||||||||||
Amortized Cost | [1] | 6,817 | ||||||||||
Investments, at fair value | [1],[3] | $ 6,853 | ||||||||||
Investment, Identifier [Axis]: GIP II Blue Holding LP, Energy—Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [1],[5] | 4.50% | 4.50% | |||||||||
Principal amount | [1],[9] | $ 4,763 | ||||||||||
Amortized Cost | [1] | 4,706 | ||||||||||
Investments, at fair value | [1],[3] | 4,785 | ||||||||||
Investment, Identifier [Axis]: GIP II Blue Holding LP, Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [2] | 4.50% | 4.50% | |||||||||
Principal amount | [2],[14] | $ 5,918 | ||||||||||
Amortized Cost | [2] | 5,842 | ||||||||||
Investments, at fair value | [2],[4] | 5,877 | ||||||||||
Investment, Identifier [Axis]: GWP Midstream Holdco, LLC, Common Equity | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Investments, at fair value | 1,385 | 5,044 | 0 | |||||||||
Investment, Identifier [Axis]: GWP Midstream Holdco, LLC, Common Equity, Energy—Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [1],[6],[16],[23],[30] | 6,681 | ||||||||||
Investments, at fair value | [1],[3],[6],[16],[23],[30] | 1,385 | ||||||||||
Investment, Identifier [Axis]: GWP Midstream Holdco, LLC, Common Equity, Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [2],[11],[17],[18],[24],[31] | 6,681 | ||||||||||
Investments, at fair value | [2],[4],[11],[17],[18],[24],[31] | $ 5,044 | ||||||||||
Investment, Identifier [Axis]: GasLog Ltd., Energy—Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [1],[6],[8],[9] | 14,648 | ||||||||||
Amortized Cost | [1],[6],[8] | 14,562 | ||||||||||
Investments, at fair value | [1],[3],[6],[8] | 14,012 | ||||||||||
Investment, Identifier [Axis]: GasLog Ltd., Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [2],[11],[13] | 7.75% | 7.75% | |||||||||
Principal amount | [2],[11],[13],[14] | $ 14,648 | ||||||||||
Amortized Cost | [2],[11],[13] | 14,556 | ||||||||||
Investments, at fair value | [2],[4],[11],[13] | $ 14,010 | ||||||||||
Investment, Identifier [Axis]: Generation Bridge LLC, Power 1 | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [2] | 5% | 5% | |||||||||
Principal amount | [2],[14] | $ 7,432 | ||||||||||
Amortized Cost | [2] | 7,305 | ||||||||||
Investments, at fair value | [2],[4] | $ 7,385 | ||||||||||
Investment, Identifier [Axis]: Generation Bridge LLC, Power 2 | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [2] | 5% | 5% | |||||||||
Principal amount | [2],[14] | $ 163 | ||||||||||
Amortized Cost | [2] | 160 | ||||||||||
Investments, at fair value | [2],[4] | 162 | ||||||||||
Investment, Identifier [Axis]: Global Jet Capital Holdings, LP, Preferred Equity, Commercial & Professional Services 1 | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [1],[6],[16] | 2,786 | ||||||||||
Investments, at fair value | [1],[3],[6],[16] | 0 | ||||||||||
Investment, Identifier [Axis]: Global Jet Capital Holdings, LP, Preferred Equity, Commercial & Professional Services 2 | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [1],[6],[16],[32] | 12,493 | ||||||||||
Investments, at fair value | [1],[3],[6],[16],[32] | $ 9,978 | ||||||||||
Investment, Identifier [Axis]: Global Jet Capital Holdings, LP, Preferred Equity, Industrials 1 | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [2],[11],[17],[18] | 2,786 | ||||||||||
Investments, at fair value | [2],[4],[11],[17],[18] | 0 | ||||||||||
Investment, Identifier [Axis]: Global Jet Capital Holdings, LP, Preferred Equity, Industrials 2 | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [2],[11],[17],[18],[25] | 12,493 | ||||||||||
Investments, at fair value | [2],[4],[11],[17],[18],[25] | $ 9,377 | ||||||||||
Investment, Identifier [Axis]: Goodnight Water Solutions, LLC, Energy—Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [1],[5],[6] | 7% | 7% | |||||||||
Principal amount | [1],[6],[9] | $ 14,741 | ||||||||||
Amortized Cost | [1],[6] | 14,544 | ||||||||||
Investments, at fair value | [1],[3],[6] | 14,586 | ||||||||||
Investment, Identifier [Axis]: Goodnight Water Solutions, LLC, Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [2],[11] | 7.25% | 7.25% | |||||||||
Principal amount | [2],[11],[14] | $ 14,963 | ||||||||||
Amortized Cost | [2],[11] | 14,752 | ||||||||||
Investments, at fair value | [2],[4],[11] | 14,819 | ||||||||||
Investment, Identifier [Axis]: Great Western Petroleum, LLC | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Investments, at fair value | 0 | 58,055 | ||||||||||
Investment, Identifier [Axis]: Great Western Petroleum, LLC, Common Equity | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Investments, at fair value | 0 | 40,731 | ||||||||||
Investment, Identifier [Axis]: Guitar Center, Inc., Consumer Discretionary Distribution & Retail | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [1],[9] | 10,000 | ||||||||||
Amortized Cost | [1] | 9,131 | ||||||||||
Investments, at fair value | [1],[3] | 9,109 | ||||||||||
Investment, Identifier [Axis]: Hamilton Intermediate Holdings, LLC, Power | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [2],[11],[14] | 30,391 | ||||||||||
Amortized Cost | [2],[11] | 31,075 | ||||||||||
Investments, at fair value | [2],[4],[11] | $ 31,007 | ||||||||||
Investment, Identifier [Axis]: Hammerhead Resources Inc., Energy—Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [1],[6],[8],[9] | 37,225 | ||||||||||
Amortized Cost | [1],[6],[8] | 37,114 | ||||||||||
Investments, at fair value | [1],[3],[6],[8] | 37,225 | ||||||||||
Investment, Identifier [Axis]: Hammerhead Resources Inc., Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [2],[11],[13],[18] | 12% | 12% | |||||||||
Principal amount | [2],[11],[13],[14],[18] | $ 35,118 | ||||||||||
Amortized Cost | [2],[11],[13],[18] | 34,961 | ||||||||||
Investments, at fair value | [2],[4],[11],[13],[18] | 35,118 | ||||||||||
Investment, Identifier [Axis]: Harvest Oil & Gas Corp., Common Equity | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Investments, at fair value | 810 | 810 | 2,836 | |||||||||
Investment, Identifier [Axis]: Harvest Oil & Gas Corp., Common Equity, Energy—Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [1],[6],[16],[30] | 14,418 | ||||||||||
Investments, at fair value | [1],[3],[6],[16],[30] | 810 | ||||||||||
Investment, Identifier [Axis]: Harvest Oil & Gas Corp., Common Equity, Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [2],[17],[18],[31] | 15,059 | ||||||||||
Investments, at fair value | [2],[4],[17],[18],[31] | 810 | ||||||||||
Investment, Identifier [Axis]: Limetree Bay Energy, LLC | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Investments, at fair value | 0 | 3,166 | ||||||||||
Investment, Identifier [Axis]: Limetree Bay Energy, LLC, Class A Units | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Investments, at fair value | 0 | 1,885 | 6,046 | |||||||||
Investment, Identifier [Axis]: Limetree Bay Energy, LLC, Class A Units, Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [2],[11],[17],[18],[31] | 21,458 | ||||||||||
Investments, at fair value | [2],[4],[11],[17],[18],[31] | 1,885 | ||||||||||
Investment, Identifier [Axis]: MB Precision Investment Holdings LLC, Class A-2 Units, Industrials | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [2],[11],[17],[18],[24] | 490 | ||||||||||
Investments, at fair value | [2],[4],[11],[17],[18],[24] | 0 | ||||||||||
Investment, Identifier [Axis]: MECO IV Holdco, LLC | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Investments, at fair value | 0 | 22,745 | ||||||||||
Investment, Identifier [Axis]: MECO IV Holdco, LLC, Class A-1 Units | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Investments, at fair value | 0 | 4,181 | ||||||||||
Investment, Identifier [Axis]: Maverick Natural Resources, LLC, Common Equity, Energy—Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [1],[6],[23] | 138,208 | ||||||||||
Investments, at fair value | [1],[3],[6],[23] | $ 266,487 | ||||||||||
Investment, Identifier [Axis]: Maverick Natural Resources, LLC, Common Equity, Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [2],[11],[18],[24] | 138,208 | ||||||||||
Investments, at fair value | [2],[4],[11],[18],[24] | $ 312,372 | ||||||||||
Investment, Identifier [Axis]: Mavis Tire Express Services TopCo, LP, Consumer Discretionary Distribution & Retail | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [1],[5] | 4% | 4% | |||||||||
Principal amount | [1],[9] | $ 6,982 | ||||||||||
Amortized Cost | [1] | 6,896 | ||||||||||
Investments, at fair value | [1],[3] | $ 6,932 | ||||||||||
Investment, Identifier [Axis]: Medallion Midland Acquisition LP, Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [2] | 3.75% | 3.75% | |||||||||
Principal amount | [2],[14] | $ 7,920 | ||||||||||
Amortized Cost | [2] | 7,886 | ||||||||||
Investments, at fair value | [2],[4] | 7,862 | ||||||||||
Investment, Identifier [Axis]: Meritage Midstream Services II, LLC, Energy—Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [1],[5] | 6.75% | 6.75% | |||||||||
Principal amount | [1],[6],[9] | $ 21,857 | ||||||||||
Amortized Cost | [1],[6] | 21,443 | ||||||||||
Investments, at fair value | [1],[3],[6] | 21,440 | ||||||||||
Investment, Identifier [Axis]: Moss Creek Resources, LLC, Energy—Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [1],[9] | 11,693 | ||||||||||
Amortized Cost | [1] | 10,541 | ||||||||||
Investments, at fair value | [1],[3] | 10,750 | ||||||||||
Investment, Identifier [Axis]: Moss Creek Resources, LLC, Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [2],[14],[18] | 11,693 | ||||||||||
Amortized Cost | [2],[18] | 10,358 | ||||||||||
Investments, at fair value | [2],[4],[18] | 10,561 | ||||||||||
Investment, Identifier [Axis]: NGL Energy Partners, LP, Preferred Equity, Energy—Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [1],[6],[8],[16],[32] | 157,633 | ||||||||||
Investments, at fair value | [1],[3],[6],[8],[16],[32] | 138,531 | ||||||||||
Investment, Identifier [Axis]: NGL Energy Partners, LP, Preferred Equity, Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [2],[11],[13],[17],[18],[25] | 157,633 | ||||||||||
Investments, at fair value | [2],[4],[11],[13],[17],[18],[25] | 125,000 | ||||||||||
Investment, Identifier [Axis]: NGL Energy Partners, LP, Warrants (Par), Strike: $13.56, Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [2],[11],[13],[17],[18] | 630 | ||||||||||
Investments, at fair value | [2],[4],[11],[13],[17],[18] | 3 | ||||||||||
Investment, Identifier [Axis]: NGL Energy Partners, LP, Warrants (Par), Strike: $14.54, Energy—Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [1],[6],[8],[16] | 3,083 | ||||||||||
Investments, at fair value | [1],[3],[6],[8],[16] | 809 | ||||||||||
Investment, Identifier [Axis]: NGL Energy Partners, LP, Warrants (Par), Strike: $14.54, Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [2],[11],[13],[17],[18] | 3,083 | ||||||||||
Investments, at fair value | [2],[4],[11],[13],[17],[18] | 10 | ||||||||||
Investment, Identifier [Axis]: NGL Energy Partners, LP, Warrants (Par), Strike:$13.56, Energy—Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [1],[6],[8],[16] | 630 | ||||||||||
Investments, at fair value | [1],[3],[6],[8],[16] | 202 | ||||||||||
Investment, Identifier [Axis]: NGL Energy Partners, LP, Warrants (Premium), Strike: $16.27, Energy—Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [1],[6],[8],[16] | 576 | ||||||||||
Investments, at fair value | [1],[3],[6],[8],[16] | 213 | ||||||||||
Investment, Identifier [Axis]: NGL Energy Partners, LP, Warrants (Premium), Strike: $16.27, Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [2],[11],[13],[17],[18] | 576 | ||||||||||
Investments, at fair value | [2],[4],[11],[13],[17],[18] | 2 | ||||||||||
Investment, Identifier [Axis]: NGL Energy Partners, LP, Warrants (Premium), Strike: $17.45, Energy—Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [1],[6],[8],[16] | 2,623 | ||||||||||
Investments, at fair value | [1],[3],[6],[8],[16] | 886 | ||||||||||
Investment, Identifier [Axis]: NGL Energy Partners, LP, Warrants (Premium), Strike: $17.45, Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [2],[11],[13],[17],[18] | 2,623 | ||||||||||
Investments, at fair value | [2],[4],[11],[13],[17],[18] | 8 | ||||||||||
Investment, Identifier [Axis]: NRG Energy, Inc., Power | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [2],[13],[14] | 19,125 | ||||||||||
Amortized Cost | [2],[13] | 18,668 | ||||||||||
Investments, at fair value | [2],[4],[13] | 14,401 | ||||||||||
Investment, Identifier [Axis]: Navios Logistics Finance, Inc., Transportation | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [1],[8],[9] | 5,000 | ||||||||||
Amortized Cost | [1],[8] | 4,875 | ||||||||||
Investments, at fair value | [1],[3],[8] | 4,830 | ||||||||||
Investment, Identifier [Axis]: NuStar, Preferred Equity, Energy—Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [1],[6],[8] | 49,215 | ||||||||||
Investments, at fair value | [1],[3],[6],[8] | $ 55,433 | ||||||||||
Investment, Identifier [Axis]: NuStar, Preferred Equity, Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [2],[11],[13],[18] | 73,114 | ||||||||||
Investments, at fair value | [2],[4],[11],[13],[18] | $ 83,590 | ||||||||||
Investment, Identifier [Axis]: OE2 North, LLC, Midstream 1 | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [2],[11] | 5.25% | 5.25% | |||||||||
Principal amount | [2],[11],[14] | $ 18,659 | ||||||||||
Amortized Cost | [2],[11] | 18,579 | ||||||||||
Investments, at fair value | [2],[4],[11] | $ 18,847 | ||||||||||
Investment, Identifier [Axis]: OE2 North, LLC, Midstream 2 | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [2],[11],[15] | 5.25% | 5.25% | |||||||||
Principal amount | [2],[11],[14],[15] | $ 11,341 | ||||||||||
Amortized Cost | [2],[11],[15] | 11,341 | ||||||||||
Investments, at fair value | [2],[4],[11],[15] | $ 11,455 | ||||||||||
Investment, Identifier [Axis]: Oryx Midstream Services Permian Basin LLC, Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [2],[18] | 3.25% | 3.25% | |||||||||
Principal amount | [2],[14],[18] | $ 32,357 | ||||||||||
Amortized Cost | [2],[18] | 32,220 | ||||||||||
Investments, at fair value | [2],[4],[18] | $ 32,026 | ||||||||||
Investment, Identifier [Axis]: Parkway Generation LLC, Energy—Power 1 | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [1],[5] | 4.75% | 4.75% | |||||||||
Principal amount | [1],[9] | $ 5,760 | ||||||||||
Amortized Cost | [1] | 5,711 | ||||||||||
Investments, at fair value | [1],[3] | $ 5,631 | ||||||||||
Investment, Identifier [Axis]: Parkway Generation LLC, Energy—Power 2 | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [1],[5] | 4.75% | 4.75% | |||||||||
Principal amount | [1],[9] | $ 43,689 | ||||||||||
Amortized Cost | [1] | 43,317 | ||||||||||
Investments, at fair value | [1],[3] | 42,710 | ||||||||||
Investment, Identifier [Axis]: Parkway Generation LLC, Power 1 | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [2] | 4.75% | 4.75% | |||||||||
Principal amount | [2],[14] | $ 5,760 | ||||||||||
Amortized Cost | [2] | 5,708 | ||||||||||
Investments, at fair value | [2],[4] | $ 5,700 | ||||||||||
Investment, Identifier [Axis]: Parkway Generation LLC, Power 2 | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [2] | 4.75% | 4.75% | |||||||||
Principal amount | [2],[14] | $ 43,910 | ||||||||||
Amortized Cost | [2] | 43,513 | ||||||||||
Investments, at fair value | [2],[4] | $ 43,285 | ||||||||||
Investment, Identifier [Axis]: Peak Exploration & Production, LLC, Upstream 1 | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [2],[11],[18] | 6.75% | 6.75% | |||||||||
Principal amount | [2],[11],[14],[18] | $ 13,545 | ||||||||||
Amortized Cost | [2],[11],[18] | 13,528 | ||||||||||
Investments, at fair value | [2],[4],[11],[18] | $ 13,394 | ||||||||||
Investment, Identifier [Axis]: Peak Exploration & Production, LLC, Upstream 2 | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [2],[11],[15] | 6.75% | 6.75% | |||||||||
Principal amount | [2],[11],[14],[15] | $ 1,505 | ||||||||||
Amortized Cost | [2],[11],[15] | 1,505 | ||||||||||
Investments, at fair value | [2],[4],[11],[15] | 1,488 | ||||||||||
Investment, Identifier [Axis]: Permian Production Holdings, LLC | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Investments, at fair value | 4,815 | 4,767 | 7,889 | |||||||||
Investment, Identifier [Axis]: Permian Production Holdings, LLC, Common Equity | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Investments, at fair value | 5,710 | 11,420 | 8,829 | |||||||||
Investment, Identifier [Axis]: Permian Production Holdings, LLC, Common Equity, Energy—Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [1],[6],[16],[23],[30] | 5 | ||||||||||
Investments, at fair value | [1],[3],[6],[16],[23],[30] | 5,710 | ||||||||||
Investment, Identifier [Axis]: Permian Production Holdings, LLC, Common Equity, Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [2],[11],[18],[24],[31] | 5 | ||||||||||
Investments, at fair value | [2],[4],[11],[18],[24],[31] | 11,420 | ||||||||||
Investment, Identifier [Axis]: Permian Production Holdings, LLC, Energy—Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [1],[6],[9],[30] | 4,815 | ||||||||||
Amortized Cost | [1],[6],[30] | 4,379 | ||||||||||
Investments, at fair value | [1],[3],[6],[30] | $ 4,815 | ||||||||||
Investment, Identifier [Axis]: Permian Production Holdings, LLC, Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [2],[11],[14],[18],[31] | 4,767 | ||||||||||
Amortized Cost | [2],[11],[18],[31] | 4,266 | ||||||||||
Investments, at fair value | [2],[4],[11],[18],[31] | 4,767 | ||||||||||
Investment, Identifier [Axis]: Permian Resources Operating LLC, Upstream 1 | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [2],[14] | 26,365 | ||||||||||
Amortized Cost | [2] | 27,511 | ||||||||||
Investments, at fair value | [2],[4] | 25,703 | ||||||||||
Investment, Identifier [Axis]: Permian Resources Operating LLC, Upstream 2 | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [2],[14],[18] | 5,200 | ||||||||||
Amortized Cost | [2],[18] | 5,257 | ||||||||||
Investments, at fair value | [2],[4],[18] | $ 4,473 | ||||||||||
Investment, Identifier [Axis]: Pinnacle Midland Gas Holdco LLC, Energy—Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [1],[5],[6] | 6.75% | 6.75% | |||||||||
Principal amount | [1],[6],[9] | $ 9,370 | ||||||||||
Amortized Cost | [1],[6] | 9,338 | ||||||||||
Investments, at fair value | [1],[3],[6] | 9,294 | ||||||||||
Investment, Identifier [Axis]: Pinnacle Midland Gas Holdco LLC, Midstream 1 | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [2],[11] | 6.75% | 6.75% | |||||||||
Principal amount | [2],[11],[14] | $ 9,370 | ||||||||||
Amortized Cost | [2],[11] | 9,304 | ||||||||||
Investments, at fair value | [2],[4],[11] | $ 9,310 | ||||||||||
Investment, Identifier [Axis]: Pinnacle Midland Gas Holdco LLC, Midstream 2 | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [2],[11],[15] | 6.75% | 6.75% | |||||||||
Principal amount | [2],[11],[14],[15] | $ 2,477 | ||||||||||
Amortized Cost | [2],[11],[15] | 2,477 | ||||||||||
Investments, at fair value | [2],[4],[11],[15] | 2,461 | ||||||||||
Investment, Identifier [Axis]: Plainfield Renewable Energy Holdings LLC, Energy—Power 1 | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [1],[6],[9],[16],[32] | 13,297 | ||||||||||
Amortized Cost | [1],[6],[16],[32] | 12,329 | ||||||||||
Investments, at fair value | [1],[3],[6],[16],[32] | 9,565 | ||||||||||
Investment, Identifier [Axis]: Plainfield Renewable Energy Holdings LLC, Energy—Power 2 | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [1],[6],[9],[16],[32] | 4,015 | ||||||||||
Amortized Cost | [1],[6],[16],[32] | 3,827 | ||||||||||
Investments, at fair value | [1],[3],[6],[16],[32] | 0 | ||||||||||
Investment, Identifier [Axis]: Plainfield Renewable Energy Holdings LLC, Letter of Credit, Energy—Power | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [1],[6],[9],[10] | 2,709 | ||||||||||
Amortized Cost | [1],[6],[10] | 2,709 | ||||||||||
Investments, at fair value | [1],[3],[6],[10] | $ 0 | ||||||||||
Investment, Identifier [Axis]: Plainfield Renewable Energy Holdings LLC, Letter of Credit, Power | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [2],[11],[14],[15] | 2,709 | ||||||||||
Amortized Cost | [2],[11],[15] | 2,709 | ||||||||||
Investments, at fair value | [2],[4],[11],[15] | 0 | ||||||||||
Investment, Identifier [Axis]: Plainfield Renewable Energy Holdings LLC, Power 1 | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [2],[11],[14],[18] | 12,121 | ||||||||||
Amortized Cost | [2],[11],[18] | 12,121 | ||||||||||
Investments, at fair value | [2],[4],[11],[18] | 9,997 | ||||||||||
Investment, Identifier [Axis]: Plainfield Renewable Energy Holdings LLC, Power 2 | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [2],[11],[14],[18] | 3,643 | ||||||||||
Amortized Cost | [2],[11],[18] | 3,643 | ||||||||||
Investments, at fair value | [2],[4],[11],[18] | $ 0 | ||||||||||
Investment, Identifier [Axis]: Potomac Energy Center, LLC, Energy—Power | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [1],[5],[6] | 6% | 6% | |||||||||
Principal amount | [1],[6],[9] | $ 58,164 | ||||||||||
Amortized Cost | [1],[6] | 57,313 | ||||||||||
Investments, at fair value | [1],[3],[6] | 53,753 | ||||||||||
Investment, Identifier [Axis]: Potomac Energy Center, LLC, Power | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [2],[11] | 6% | 6% | |||||||||
Principal amount | [2],[11],[14] | $ 58,459 | ||||||||||
Amortized Cost | [2],[11] | 57,508 | ||||||||||
Investments, at fair value | [2],[4],[11] | 58,443 | ||||||||||
Investment, Identifier [Axis]: Ranger Oil Corp., Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [2],[13],[14] | 29,772 | ||||||||||
Amortized Cost | [2],[13] | 29,633 | ||||||||||
Investments, at fair value | [2],[4],[13] | 29,678 | ||||||||||
Investment, Identifier [Axis]: Ridgeback Resources Inc., Common Equity | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Investments, at fair value | 0 | 41,851 | 48,356 | |||||||||
Investment, Identifier [Axis]: Ridgeback Resources Inc., Common Equity, Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [2],[11],[13],[18],[31],[33] | 46,599 | ||||||||||
Investments, at fair value | [2],[4],[11],[13],[18],[31],[33] | 41,851 | ||||||||||
Investment, Identifier [Axis]: ST EIP Holdings Inc., Energy—Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [1],[6],[9] | 10,473 | ||||||||||
Amortized Cost | [1],[6] | 10,037 | ||||||||||
Investments, at fair value | [1],[3],[6] | 10,015 | ||||||||||
Investment, Identifier [Axis]: ST EIP Holdings Inc., Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [2],[11],[14] | 10,526 | ||||||||||
Amortized Cost | [2],[11] | 10,064 | ||||||||||
Investments, at fair value | [2],[4],[11] | 10,074 | ||||||||||
Investment, Identifier [Axis]: Saturn Oil & Gas Inc., Common Equity, Energy—Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [1],[8],[16],[34] | 3,052 | ||||||||||
Investments, at fair value | [1],[3],[8],[16],[34] | $ 2,674 | ||||||||||
Investment, Identifier [Axis]: Segreto Power Holdings, LLC, Preferred Equity, Power | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [2],[11],[17],[18],[24],[25] | 99,766 | ||||||||||
Investments, at fair value | [2],[4],[11],[17],[18],[24],[25] | $ 83,647 | ||||||||||
Investment, Identifier [Axis]: SilverBow Resources, Inc., Energy—Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [1],[5],[6],[8] | 7.50% | 7.50% | |||||||||
Principal amount | [1],[6],[8],[9] | $ 14,250 | ||||||||||
Amortized Cost | [1],[6],[8] | 14,211 | ||||||||||
Investments, at fair value | [1],[3],[6],[8] | $ 14,313 | ||||||||||
Investment, Identifier [Axis]: SilverBow Resources, Inc., Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [2],[11],[13],[18] | 7.50% | 7.50% | |||||||||
Principal amount | [2],[11],[13],[14],[18] | $ 14,250 | ||||||||||
Amortized Cost | [2],[11],[13],[18] | 14,199 | ||||||||||
Investments, at fair value | [2],[4],[11],[13],[18] | $ 14,322 | ||||||||||
Investment, Identifier [Axis]: Sitio Royalties Operating Partnership, LP, Energy—Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [1],[5],[6],[8] | 5.75% | 5.75% | |||||||||
Principal amount | [1],[6],[8],[9] | $ 18,500 | ||||||||||
Amortized Cost | [1],[6],[8] | 18,350 | ||||||||||
Investments, at fair value | [1],[3],[6],[8] | 18,289 | ||||||||||
Investment, Identifier [Axis]: Sitio Royalties Operating Partnership, LP, Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [2],[11],[13],[18] | 6.50% | 6.50% | |||||||||
Principal amount | [2],[11],[13],[14],[18] | $ 19,500 | ||||||||||
Amortized Cost | [2],[11],[13],[18] | 19,318 | ||||||||||
Investments, at fair value | [2],[4],[11],[13],[18] | 19,256 | ||||||||||
Investment, Identifier [Axis]: Suburban Propane Partners LP, Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [2],[13],[14],[18] | 7,590 | ||||||||||
Amortized Cost | [2],[13],[18] | 7,837 | ||||||||||
Investments, at fair value | [2],[4],[13],[18] | 6,461 | ||||||||||
Investment, Identifier [Axis]: Sustainable Infrastructure Investments, LLC 2 | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Investments, at fair value | 50,149 | 51,098 | 50,770 | |||||||||
Investment, Identifier [Axis]: Sustainable Infrastructure Investments, LLC, Energy—Power | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [1],[6],[8],[9],[16],[21] | 60,603 | ||||||||||
Amortized Cost | [1],[6],[8],[16],[21] | 54,514 | ||||||||||
Investments, at fair value | [1],[3],[6],[8],[16],[21] | $ 50,149 | ||||||||||
Investment, Identifier [Axis]: Sustainable Infrastructure Investments, LLC, Power | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [2],[11],[22],[35] | 60,603 | ||||||||||
Amortized Cost | [2],[11],[22],[35] | 54,514 | ||||||||||
Investments, at fair value | [2],[4],[11],[22],[35] | 51,098 | ||||||||||
Investment, Identifier [Axis]: Swift Worldwide Resources Holdco Limited, Common Equity, Service & Equipment | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [2],[11],[13],[17],[18],[36] | 6,029 | ||||||||||
Investments, at fair value | [2],[4],[11],[13],[17],[18],[36] | 3,131 | ||||||||||
Investment, Identifier [Axis]: TKC Holdings, Inc., Consumer Staples Distribution & Retail | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [1],[5] | 5.50% | 5.50% | |||||||||
Principal amount | [1],[9] | $ 4,747 | ||||||||||
Amortized Cost | [1] | 4,439 | ||||||||||
Investments, at fair value | [1],[3] | 4,467 | ||||||||||
Investment, Identifier [Axis]: Tallgrass Energy Partners, LP, Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | [2],[14],[18] | 19,761 | ||||||||||
Amortized Cost | [2],[18] | 19,676 | ||||||||||
Investments, at fair value | [2],[4],[18] | 18,480 | ||||||||||
Investment, Identifier [Axis]: Telpico, LLC, Common Equity | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Investments, at fair value | 0 | 0 | 0 | |||||||||
Investment, Identifier [Axis]: Telpico, LLC, Common Equity, Energy—Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [1],[6],[16],[23],[30] | 0 | ||||||||||
Investments, at fair value | [1],[3],[6],[16],[23],[30] | 0 | ||||||||||
Investment, Identifier [Axis]: Telpico, LLC, Common Equity, Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [2],[11],[17],[18],[24],[31] | 0 | ||||||||||
Investments, at fair value | [2],[4],[11],[17],[18],[24],[31] | 0 | ||||||||||
Investment, Identifier [Axis]: Tenrgys, LLC, Common Equity, Energy—Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [1],[6],[16],[23] | 7,571 | ||||||||||
Investments, at fair value | [1],[3],[6],[16],[23] | $ 4,531 | ||||||||||
Investment, Identifier [Axis]: Tenrgys, LLC, Common Equity, Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [2],[11],[17],[18],[24] | 7,571 | ||||||||||
Investments, at fair value | [2],[4],[11],[17],[18],[24] | $ 6,801 | ||||||||||
Investment, Identifier [Axis]: Tenrgys, LLC, Energy—Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [1],[5],[6] | 7.50% | 7.50% | |||||||||
Principal amount | [1],[6],[9] | $ 20,537 | ||||||||||
Amortized Cost | [1],[6] | 20,537 | ||||||||||
Investments, at fair value | [1],[3],[6] | $ 19,613 | ||||||||||
Investment, Identifier [Axis]: Tenrgys, LLC, Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [2],[11],[18] | 7.50% | 7.50% | |||||||||
Principal amount | [2],[11],[14],[18] | $ 20,537 | ||||||||||
Amortized Cost | [2],[11],[18] | 20,537 | ||||||||||
Investments, at fair value | [2],[4],[11],[18] | $ 20,537 | ||||||||||
Investment, Identifier [Axis]: Traverse Midstream Partners LLC, Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [2] | 4.25% | 4.25% | |||||||||
Principal amount | [2],[14] | $ 28,436 | ||||||||||
Amortized Cost | [2] | 28,484 | ||||||||||
Investments, at fair value | [2],[4] | 28,418 | ||||||||||
Investment, Identifier [Axis]: TruGreen, LP, Commercial & Professional Services | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [1],[5] | 4% | 4% | |||||||||
Principal amount | [1],[9] | $ 4,987 | ||||||||||
Amortized Cost | [1] | 4,551 | ||||||||||
Investments, at fair value | [1],[3] | 4,603 | ||||||||||
Investment, Identifier [Axis]: USA Compression Partners, LP, Common Equity, Energy—Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [1],[8] | 1,617 | ||||||||||
Investments, at fair value | [1],[3],[8] | 1,673 | ||||||||||
Investment, Identifier [Axis]: USA Compression Partners, LP, Common Equity, Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [2],[13],[17],[18] | 1,617 | ||||||||||
Investments, at fair value | [2],[4],[13],[17],[18] | 1,655 | ||||||||||
Investment, Identifier [Axis]: USA Compression Partners, LP, Preferred Equity, Energy—Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [1],[6],[8] | 78,041 | ||||||||||
Investments, at fair value | [1],[3],[6],[8] | 88,850 | ||||||||||
Investment, Identifier [Axis]: USA Compression Partners, LP, Preferred Equity, Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [2],[11] | 77,943 | ||||||||||
Investments, at fair value | [2],[4],[11] | 90,479 | ||||||||||
Investment, Identifier [Axis]: USA Compression Partners, LP, Warrants (Premium), Strike: $19.59, Energy—Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [1],[6],[8],[16] | 714 | ||||||||||
Investments, at fair value | [1],[3],[6],[8],[16] | 4,990 | ||||||||||
Investment, Identifier [Axis]: USA Compression Partners, LP, Warrants (Premium), Strike: $19.59, Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [2],[11],[13],[17],[18] | 714 | ||||||||||
Investments, at fair value | [2],[4],[11],[13],[17],[18] | 5,711 | ||||||||||
Investment, Identifier [Axis]: Warren Resources, Inc. | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Investments, at fair value | 23,703 | 23,584 | 23,688 | |||||||||
Investment, Identifier [Axis]: Warren Resources, Inc., Common Equity | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Investments, at fair value | 29,431 | 36,982 | $ 25,854 | |||||||||
Investment, Identifier [Axis]: Warren Resources, Inc., Common Equity, Energy—Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [1],[6],[16],[21] | 20,754 | ||||||||||
Investments, at fair value | [1],[3],[6],[16],[21] | $ 29,431 | ||||||||||
Investment, Identifier [Axis]: Warren Resources, Inc., Common Equity, Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | [2],[11],[17],[18],[22] | 20,754 | ||||||||||
Investments, at fair value | [2],[4],[11],[17],[18],[22] | $ 36,982 | ||||||||||
Investment, Identifier [Axis]: Warren Resources, Inc., Energy—Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [1],[5],[6],[21] | 9% | 9% | |||||||||
Principal amount | [1],[6],[9],[21] | $ 23,703 | ||||||||||
Amortized Cost | [1],[6],[21] | 23,703 | ||||||||||
Investments, at fair value | [1],[3],[6],[21] | $ 23,703 | ||||||||||
Investment, Identifier [Axis]: Warren Resources, Inc., Upstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [2],[11],[22] | 9% | 9% | |||||||||
Principal amount | [2],[11],[14],[22] | $ 23,584 | ||||||||||
Amortized Cost | [2],[11],[22] | 23,584 | ||||||||||
Investments, at fair value | [2],[4],[11],[22] | $ 23,584 | ||||||||||
Investment, Identifier [Axis]: Wattbridge Inc., Energy—Power | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [1],[5],[6] | 9.85% | 9.85% | |||||||||
Principal amount | [1],[6],[9] | $ 42,938 | ||||||||||
Amortized Cost | [1],[6] | 42,938 | ||||||||||
Investments, at fair value | [1],[3],[6] | 41,568 | ||||||||||
Investment, Identifier [Axis]: Wattbridge Inc., Power | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | [2],[11] | 7.85% | 7.85% | |||||||||
Principal amount | [2],[11],[14] | $ 42,500 | ||||||||||
Amortized Cost | [2],[11] | 42,500 | ||||||||||
Investments, at fair value | [2],[4],[11] | 41,880 | ||||||||||
Sustainable Infrastructure Investments, LLC | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | 264,692 | 274,088 | ||||||||||
Amortized Cost | 264,692 | 274,088 | ||||||||||
Investments, at fair value | $ 267,244 | $ 275,058 | ||||||||||
Percent of net assets | 100% | 100% | 100% | 100% | ||||||||
Sustainable Infrastructure Investments, LLC | London Interbank Offered Rate (LIBOR) | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | 5.55% | 5.55% | 4.77% | 4.77% | ||||||||
Sustainable Infrastructure Investments, LLC | Canadian Dollar Offer Rate | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | 5.40% | 5.40% | 4.94% | 4.94% | ||||||||
Sustainable Infrastructure Investments, LLC | Net Senior Secured Loans—First Lien | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Amortized Cost | $ 264,692 | $ 274,088 | ||||||||||
Investments, at fair value | $ 267,244 | $ 275,058 | ||||||||||
Percent of net assets | 100% | 100% | 100% | 100% | ||||||||
Sustainable Infrastructure Investments, LLC | Investment, Identifier [Axis]: Alianca Transportadora de Gas Participacoes S.A., Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | 2.85% | 2.85% | 2.60% | 2.60% | ||||||||
Principal amount | $ 70,610 | $ 73,707 | ||||||||||
Amortized Cost | 70,610 | 73,707 | ||||||||||
Investments, at fair value | $ 72,560 | $ 74,601 | ||||||||||
Sustainable Infrastructure Investments, LLC | Investment, Identifier [Axis]: Blue Heron Intermediate Holdco I, LLC, Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | 1.88% | 1.88% | 1.88% | 1.88% | ||||||||
Principal amount | $ 31,244 | $ 31,832 | ||||||||||
Amortized Cost | 31,244 | 31,832 | ||||||||||
Investments, at fair value | $ 31,352 | $ 31,885 | ||||||||||
Sustainable Infrastructure Investments, LLC | Investment, Identifier [Axis]: Cedar Creek II LLC, Renewables | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | 1.88% | 1.88% | 1.88% | 1.88% | ||||||||
Principal amount | $ 8,160 | $ 8,710 | ||||||||||
Amortized Cost | 8,160 | 8,710 | ||||||||||
Investments, at fair value | $ 8,177 | $ 8,722 | ||||||||||
Sustainable Infrastructure Investments, LLC | Investment, Identifier [Axis]: Copper Mountain Solar 3, LLC, Renewables | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | 1.88% | 1.88% | 1.75% | 1.75% | ||||||||
Principal amount | $ 17,105 | $ 17,804 | ||||||||||
Amortized Cost | 17,105 | 17,804 | ||||||||||
Investments, at fair value | $ 17,221 | $ 17,879 | ||||||||||
Sustainable Infrastructure Investments, LLC | Investment, Identifier [Axis]: FLNG Liquefaction 2, LLC, Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | 1.50% | 1.50% | 1.50% | 1.50% | ||||||||
Principal amount | $ 27,375 | $ 28,170 | ||||||||||
Amortized Cost | 27,375 | 28,170 | ||||||||||
Investments, at fair value | 27,303 | 27,990 | ||||||||||
Sustainable Infrastructure Investments, LLC | Investment, Identifier [Axis]: Largest Portfolio Company Investment | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Principal amount | $ 70,610 | $ 73,707 | ||||||||||
Sustainable Infrastructure Investments, LLC | Investment, Identifier [Axis]: Meikle Wind Energy, LP, Renewables | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | 1.50% | 1.50% | 1.50% | 1.50% | ||||||||
Principal amount | $ 15,471 | $ 16,030 | ||||||||||
Amortized Cost | $ 11,903 | $ 12,332 | ||||||||||
Investments, at fair value | $ 11,611 | $ 11,873 | ||||||||||
Sustainable Infrastructure Investments, LLC | Investment, Identifier [Axis]: NES Hercules Class B Member, LLC, Renewables | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | 1.65% | 1.65% | 1.50% | 1.50% | ||||||||
Principal amount | $ 24,317 | $ 24,487 | ||||||||||
Amortized Cost | 24,317 | 24,487 | ||||||||||
Investments, at fair value | $ 24,847 | $ 24,954 | ||||||||||
Sustainable Infrastructure Investments, LLC | Investment, Identifier [Axis]: ST EIP Holdco LLC, Midstream | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | 2.50% | 2.50% | 2.50% | 2.50% | ||||||||
Principal amount | $ 58,124 | $ 58,673 | ||||||||||
Amortized Cost | 58,124 | 58,673 | ||||||||||
Investments, at fair value | $ 57,900 | $ 58,288 | ||||||||||
Sustainable Infrastructure Investments, LLC | Investment, Identifier [Axis]: Seine Funding, LLC | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | 1.20% | |||||||||||
Principal amount | $ 634,103 | |||||||||||
Sustainable Infrastructure Investments, LLC | Investment, Identifier [Axis]: Top of the World Wind Energy LLC, Renewables | ||||||||||||
Schedule of Investments [Line Items] | ||||||||||||
Variable rate | 1.88% | 1.88% | 1.88% | 1.88% | ||||||||
Principal amount | $ 15,854 | $ 18,373 | ||||||||||
Amortized Cost | 15,854 | 18,373 | ||||||||||
Investments, at fair value | $ 16,273 | $ 18,866 | ||||||||||
[1]Security may be an obligation of one or more entities affiliated with the named company.[2]Security may be an obligation of one or more entities affiliated with the named company.[3]See Note 8 for additional information regarding the fair value of the Company’s financial instruments.[4]See Note 8 for additional information regarding the fair value of the Company’s financial instruments.[5]Certain variable rate securities in the Company’s portfolio bear interest at a rate determined by a publicly disclosed base rate plus a basis point spread. As of June 30, 2023 , the three-month London Interbank Offered Rate, or LIBOR, or L, was 5.55% and the Secured Overnight Financing Rate, or SOFR, or S, was 5.27%. PIK means paid-in-kind. PIK income accruals may be adjusted based on the fair value of the underlying investment. Variable rate securities with no floor rate use the respective benchmark rate in all cases. June 30, 2023 , 73.7% of the Company’s total assets represented qualifying assets. ( 4) Security includes a partially unfunded commitment with amortized cost of $2,500 and fair value of $2,500. Portfolio Company Fair Value at December 31, 2022 Gross Additions (1) Gross Reductions (2) Net Realized Gain (Loss) Net Change in Unrealized Appreciation (Depreciation) Fair Value at June 30, 2023 Interest Income (3) PIK Income (3) Senior Secured Loans—First Lien Allied Downhole Technologies, LLC (4) $ 8,436 $ 113 $ (996) $ — $ — $ 7,553 $ 207 $ 113 Allied Wireline Services, LLC 63,888 6,389 — — — 70,277 3,223 — Warren Resources, Inc. 23,584 119 — — — 23,703 1,648 119 Sustainable Infrastructure Investments, LLC Sustainable Infrastructure Investments, LLC 51,098 — — — (949) 50,149 — — Equity/Other Allied Wireline Services, LLC, Common Equity 10,463 — — — (2,395) 8,068 — — Allied Wireline Services, LLC, Warrants — — — — — — — — Warren Resources, Inc., Common Equity 36,982 — — — (7,551) 29,431 — — $ 194,451 $ 6,621 $ (996) $ — $ (10,895) $ 189,181 $ 5,078 $ 232 _____________ (1) Gross additions may include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, the amortization of unearned income, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company into this category from a different category. (2) Gross reductions may include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company out of this category into a different category. (3) Interest and PIK income presented for the six months ended June 30, 2023. ( 4) Security includes a partially unfunded commitment with amortized cost of $2,500 and fair value of $2,500. Under the 1940 Act, the Company generally is deemed to “control” a portfolio company if it owns more than 25% of the portfolio company’s voting securities or it has the power to exercise control over the management or policies of such portfolio company. As of December 31, 2022 , the Company held investments in portfolio companies of which it is deemed to be an “affiliated person” of and deemed to “control.” The following table presents certain information with respect to investments in portfolio companies of which the Company was deemed to be an affiliated person and deemed to control as of December 31, 2022 : Portfolio Company Fair Value at December 31, 2021 Gross Additions (1) Gross Reductions (2) Net Realized Gain (Loss) Net Change in Unrealized Appreciation (Depreciation) Fair Value at December 31, 2022 Interest Income (3) PIK Income (3) Dividend Income (3) Senior Secured Loans—First Lien Allied Downhole Technologies, LLC (4) $ 7,782 $ 654 $ — $ — $ — $ 8,436 $ — $ 654 $ — Allied Wireline Services, LLC 46,339 5,808 — — 11,741 63,888 316 5,808 — MECO IV Holdco, LLC 22,745 455 (23,200) — — — — 455 — Warren Resources, Inc. 23,688 237 (341) — — 23,584 2,620 237 — Sustainable Infrastructure Investments, LLC Sustainable Infrastructure Investments, LLC 50,770 — — — 328 51,098 — — 735 Equity/Other Allied Wireline Services, LLC, Common Equity — — — — 10,463 10,463 — — — Allied Wireline Services, LLC, Warrants — — — — — — — — — MECO IV Holdco, LLC, Class A-1 Units 4,181 — (18,060) 15,899 (2,020) — — — — Warren Resources, Inc., Common Equity 25,854 — — — 11,128 36,982 — — — $ 181,359 $ 7,154 $ (41,601) $ 15,899 $ 31,640 $ 194,451 $ 2,936 $ 7,154 $ 735 _____________ (1) Gross additions may include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, the amortization of unearned income, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company into this category from a different category. (2) Gross reductions may include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company out of this category into a different category. (3) Interest, PIK and dividend income presented for the year ended December 31, 2022. ( 4) Security includes a partially unfunded commitment with amortized cost of $2,500 and fair value of $2,500. December 31, 2022 . Under the 1940 Act, the Company generally is deemed to be an “affiliated person” of a portfolio company if it owns 5% or more of the portfolio company’s voting securities and generally is deemed to “control” a portfolio company if it owns more than 25% of the portfolio company’s voting securities or it has the power to exercise control over the management or policies of such portfolio company. As of June 30, 2023, the Company held investments in portfolio companies of which it is deemed to be an “affiliated person” but is not deemed to “control”. The following table presents certain information with respect to investments in portfolio companies of which the Company was deemed to be an affiliated person as of June 30, 2023: Portfolio Company Fair Value at December 31, 2022 Gross Additions (1) Gross Reductions (2) Net Realized Gain (Loss) Net Change in Unrealized Appreciation (Depreciation) Fair Value at June 30, 2023 Interest Income (3) PIK Income (3) Senior Secured Loans—First Lien Permian Production Holdings, LLC $ 4,767 $ 113 $ — $ — $ (65) $ 4,815 $ 324 $ 48 Equity/Other GWP Midstream Holdco, LLC, Common Equity 5,044 — — — (3,659) 1,385 — — Harvest Oil & Gas Corp., Common Equity 810 — (641) — 641 810 — — Limetree Bay Energy, LLC, Class A Units 1,885 83 — (21,541) 19,573 — — — Permian Production Holdings, LLC, Common Equity 11,420 — — — (5,710) 5,710 — — Ridgeback Resources Inc., Common Equity 41,851 — (35,240) (11,359) 4,748 — — — Telpico, LLC, Common Equity — — — — — — — — $ 65,777 $ 196 $ (35,881) $ (32,900) $ 15,528 $ 12,720 $ 324 $ 48 _____________ (1) Gross additions may include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, the amortization of unearned income, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company into this category from a different category. (2) Gross reductions may include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company out of this category into a different category. (3) Interest and PIK income presented for the six months ended June 30, 2023. Under the 1940 Act, the Company generally is deemed to be an “affiliated person” of a portfolio company if it owns 5% or more of the portfolio company’s voting securities and generally is deemed to “control” a portfolio company if it owns more than 25% of the portfolio company’s voting securities or it has the power to exercise control over the management or policies of such portfolio company. As of December 31, 2022 , the Company held investments in portfolio companies of which it is deemed to be an “affiliated person” but is not deemed to “control”. The following table presents certain information with respect to investments in portfolio companies of which the Company was deemed to be an affiliated person as of December 31, 2022 : Portfolio Company Fair Value at December 31, 2021 Gross Additions (1) Gross Reductions (2) Net Realized Gain (Loss) Net Change in Unrealized Appreciation (Depreciation) Fair Value at December 31, 2022 Interest Income (3) PIK Income (3) Fee Income (3) Dividend Income (3) Senior Secured Loans—First Lien Limetree Bay Energy, LLC $ 3,166 $ — $ (1,587) $ (12,756) $ 11,177 $ — $ — $ — $ — $ — Permian Production Holdings, LLC 7,889 697 (3,674) 551 (696) 4,767 570 105 — — Senior Secured Bonds Great Western Petroleum, LLC 58,055 96 (55,096) 1,087 (4,142) — 2,649 — 7,268 — Equity/Other Great Western Petroleum, LLC, Common Equity 40,731 — (84,871) 54,081 (9,941) — — — — — GWP Midstream Holdco, LLC, Common Equity — 6,681 — — (1,637) 5,044 — — — — Harvest Oil & Gas Corp., Common Equity 2,836 — (743) — (1,283) 810 — — — — Limetree Bay Energy, LLC, Class A Units 6,046 1,795 — — (5,956) 1,885 — — — — Permian Production Holdings, LLC, Common Equity 8,829 4 — — 2,587 11,420 — — — 1,726 Ridgeback Resources Inc., Common Equity 48,356 — (12,559) 173 5,881 41,851 — — — 3,691 Telpico, LLC, Common Equity — — — — — — — — — — $ 175,908 $ 9,273 $ (158,530) $ 43,136 $ (4,010) $ 65,777 $ 3,219 $ 105 $ 7,268 $ 5,417 _____________ (1) Gross additions may include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, the amortization of unearned income, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company into this category from a different category. (2) Gross reductions may include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company out of this category into a different category. (3) Interest, PIK, fee and dividend income presented for the year ended December 31, 2022. Investment denominated in Canadian dollars. Amortized cost and fair value are converted into U.S. dollars as of December 31, 2022 Investment denominated in British pounds. Amortized cost and fair value are converted into U.S. dollars as of December 31, 2022 . |
Investment Portfolio - Balance
Investment Portfolio - Balance Sheet Information for SIIJV (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Dec. 31, 2021 | Mar. 31, 2021 | ||
Schedule of Investments [Line Items] | ||||||||
Investments, at fair value | $ 1,495,602 | [1],[2] | $ 2,047,115 | [3],[4] | ||||
Total assets | 1,758,300 | 2,558,781 | ||||||
Total liabilities | 78,577 | 805,033 | ||||||
Total shareholders' equity | 1,679,723 | $ 1,712,828 | 1,753,748 | $ 1,791,255 | $ 1,602,323 | $ 1,783,915 | ||
Sustainable Infrastructure Investments, LLC | ||||||||
Schedule of Investments [Line Items] | ||||||||
Investments, at fair value | 267,244 | 275,058 | ||||||
Cash and other assets | 16,037 | 10,380 | ||||||
Total assets | 283,281 | 285,438 | ||||||
Debt | 206,303 | 213,583 | ||||||
Other liabilities | 4,105 | 3,358 | ||||||
Total liabilities | 210,408 | 216,941 | ||||||
Total shareholders' equity | $ 72,873 | $ 68,497 | ||||||
[1]Security may be an obligation of one or more entities affiliated with the named company.[2]See Note 8 for additional information regarding the fair value of the Company’s financial instruments.[3]Security may be an obligation of one or more entities affiliated with the named company.[4]See Note 8 for additional information regarding the fair value of the Company’s financial instruments. |
Investment Portfolio - Operatio
Investment Portfolio - Operations Information for SIIJV (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | ||
Schedule of Investments [Line Items] | |||||
Total investment income | $ 41,476 | $ 47,073 | $ 84,571 | $ 82,982 | |
Interest expense | [1] | 5,730 | 13,196 | 18,328 | 26,890 |
Administrative services | 1,359 | 1,490 | 2,679 | 2,910 | |
Custodian and accounting fees | 794 | 728 | 1,545 | 1,448 | |
Professional services | 179 | 189 | 362 | 366 | |
Total operating expenses | 19,594 | 27,937 | 45,787 | 56,354 | |
Net realized and unrealized gain (loss) | (46,552) | (5,256) | (96,263) | 176,337 | |
Sustainable Infrastructure Investments, LLC | |||||
Schedule of Investments [Line Items] | |||||
Total investment income | 5,013 | 2,243 | 9,811 | 4,073 | |
Interest expense | 3,319 | 1,178 | 6,460 | 2,151 | |
Administrative services | 45 | 40 | 88 | 81 | |
Custodian and accounting fees | 58 | 57 | 103 | 104 | |
Professional services | 50 | 26 | 100 | 51 | |
Other | 10 | 0 | 20 | 0 | |
Total operating expenses | 3,482 | 1,301 | 6,771 | 2,387 | |
Net investment income | 1,531 | 942 | 3,040 | 1,686 | |
Net realized and unrealized gain (loss) | (610) | (1,316) | 1,336 | (2,016) | |
Net increase (decrease) in net assets resulting from operations | $ 921 | $ (374) | $ 4,376 | $ (330) | |
[1]See Note 9 for a discussion of the Company's financing arrangements. |
Fair Value of Financial Instr_3
Fair Value of Financial Instruments - Schedule of Fair Value Hierarchy Investments (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Investments, at fair value | $ 1,495,602 | [1],[2] | $ 2,047,115 | [3],[4] |
Level 1—Price quotations in active markets | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Investments, at fair value | 4,347 | 2,465 | ||
Level 2—Significant other observable inputs | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Investments, at fair value | 188,658 | 450,445 | ||
Level 3—Significant unobservable inputs | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Investments, at fair value | $ 1,302,597 | $ 1,594,205 | ||
[1]Security may be an obligation of one or more entities affiliated with the named company.[2]See Note 8 for additional information regarding the fair value of the Company’s financial instruments.[3]Security may be an obligation of one or more entities affiliated with the named company.[4]See Note 8 for additional information regarding the fair value of the Company’s financial instruments. |
Fair Value of Financial Instr_4
Fair Value of Financial Instruments - Assets and Liabilities Fair Value (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | $ 505 | $ 0 |
Liabilities | 0 | 698 |
Level 1—Price quotations in active markets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 0 | 0 |
Liabilities | 0 | 0 |
Level 2—Significant other observable inputs | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 505 | 0 |
Liabilities | 0 | 698 |
Level 3—Significant unobservable inputs | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 0 | 0 |
Liabilities | $ 0 | $ 0 |
Fair Value of Financial Instr_5
Fair Value of Financial Instruments - Reconciliation Fair Value, Assets (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Accretion of discount (amortization of premium) | $ 3,112 | $ 3,886 |
Total | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value at beginning of period | 1,594,205 | 1,621,482 |
Accretion of discount (amortization of premium) | 2,343 | 3,976 |
Purchases | 25,032 | 255,662 |
Paid-in-kind interest | 11,831 | 12,469 |
Sales and repayments | (230,453) | (335,146) |
Transfers into Level 3 | 810 | 58,705 |
Transfers out of Level 3 | 0 | 0 |
Fair value at end of period | 1,302,597 | 1,846,952 |
The amount of total gains or losses for the period included in changes in net assets attributable to the change in unrealized gains or losses relating to investments still held at the reporting date | (93,784) | 177,495 |
Total | Net realized gain (loss) | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Net realized gain (loss) | (56,243) | 21,698 |
Total | Net change in unrealized appreciation (depreciation) | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Net realized gain (loss) | (44,928) | 208,106 |
Senior Secured Loans—First Lien | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value at beginning of period | 443,245 | 414,075 |
Accretion of discount (amortization of premium) | 877 | 1,085 |
Purchases | 24,949 | 99,677 |
Paid-in-kind interest | 9,724 | 7,901 |
Sales and repayments | (65,394) | (117,681) |
Transfers into Level 3 | 0 | 58,705 |
Transfers out of Level 3 | 0 | 0 |
Fair value at end of period | 397,888 | 472,158 |
The amount of total gains or losses for the period included in changes in net assets attributable to the change in unrealized gains or losses relating to investments still held at the reporting date | (14,618) | 10,826 |
Senior Secured Loans—First Lien | Net realized gain (loss) | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Net realized gain (loss) | (3,431) | (12,192) |
Senior Secured Loans—First Lien | Net change in unrealized appreciation (depreciation) | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Net realized gain (loss) | (12,082) | 20,588 |
Senior Secured Loans—Second Lien | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value at beginning of period | 143,270 | 84,083 |
Accretion of discount (amortization of premium) | 218 | 125 |
Purchases | 0 | 110,150 |
Paid-in-kind interest | 0 | 537 |
Sales and repayments | (17,545) | (18,577) |
Transfers into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 |
Fair value at end of period | 125,003 | 177,184 |
The amount of total gains or losses for the period included in changes in net assets attributable to the change in unrealized gains or losses relating to investments still held at the reporting date | (1,039) | 643 |
Senior Secured Loans—Second Lien | Net realized gain (loss) | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Net realized gain (loss) | (52) | 446 |
Senior Secured Loans—Second Lien | Net change in unrealized appreciation (depreciation) | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Net realized gain (loss) | (888) | 420 |
Senior Secured Bonds | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value at beginning of period | 10,074 | 10,371 |
Accretion of discount (amortization of premium) | 25 | 24 |
Purchases | 0 | 0 |
Paid-in-kind interest | 0 | 0 |
Sales and repayments | (54) | 0 |
Transfers into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 |
Fair value at end of period | 10,015 | 10,356 |
The amount of total gains or losses for the period included in changes in net assets attributable to the change in unrealized gains or losses relating to investments still held at the reporting date | (32) | (39) |
Senior Secured Bonds | Net realized gain (loss) | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Net realized gain (loss) | 2 | 0 |
Senior Secured Bonds | Net change in unrealized appreciation (depreciation) | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Net realized gain (loss) | (32) | (39) |
Unsecured Debt | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value at beginning of period | 54,374 | 104,659 |
Accretion of discount (amortization of premium) | 74 | 80 |
Purchases | 0 | 0 |
Paid-in-kind interest | 2,107 | 3,843 |
Sales and repayments | (1,000) | (47,571) |
Transfers into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 |
Fair value at end of period | 55,514 | 67,889 |
The amount of total gains or losses for the period included in changes in net assets attributable to the change in unrealized gains or losses relating to investments still held at the reporting date | (45) | (80) |
Unsecured Debt | Net realized gain (loss) | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Net realized gain (loss) | 4 | (27,729) |
Unsecured Debt | Net change in unrealized appreciation (depreciation) | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Net realized gain (loss) | (45) | 34,607 |
Preferred Equity | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value at beginning of period | 400,414 | 497,288 |
Accretion of discount (amortization of premium) | 1,149 | 2,662 |
Purchases | 0 | 0 |
Paid-in-kind interest | 0 | 188 |
Sales and repayments | (106,656) | (21,812) |
Transfers into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 |
Fair value at end of period | 301,619 | 475,077 |
The amount of total gains or losses for the period included in changes in net assets attributable to the change in unrealized gains or losses relating to investments still held at the reporting date | 8,653 | (3,519) |
Preferred Equity | Net realized gain (loss) | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Net realized gain (loss) | (18,060) | 270 |
Preferred Equity | Net change in unrealized appreciation (depreciation) | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Net realized gain (loss) | 24,772 | (3,519) |
Sustainable Infrastructure Investments, LLC | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value at beginning of period | 51,098 | 50,770 |
Accretion of discount (amortization of premium) | 0 | 0 |
Purchases | 0 | 0 |
Paid-in-kind interest | 0 | 0 |
Sales and repayments | 0 | 0 |
Transfers into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 |
Fair value at end of period | 50,149 | 52,131 |
The amount of total gains or losses for the period included in changes in net assets attributable to the change in unrealized gains or losses relating to investments still held at the reporting date | (949) | 1,361 |
Sustainable Infrastructure Investments, LLC | Net realized gain (loss) | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Net realized gain (loss) | 0 | 0 |
Sustainable Infrastructure Investments, LLC | Net change in unrealized appreciation (depreciation) | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Net realized gain (loss) | (949) | 1,361 |
Equity/Other | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value at beginning of period | 491,730 | 460,236 |
Accretion of discount (amortization of premium) | 0 | 0 |
Purchases | 83 | 45,835 |
Paid-in-kind interest | 0 | 0 |
Sales and repayments | (39,804) | (129,505) |
Transfers into Level 3 | 810 | 0 |
Transfers out of Level 3 | 0 | 0 |
Fair value at end of period | 362,409 | 592,157 |
The amount of total gains or losses for the period included in changes in net assets attributable to the change in unrealized gains or losses relating to investments still held at the reporting date | (85,754) | 168,303 |
Equity/Other | Net realized gain (loss) | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Net realized gain (loss) | (34,706) | 60,903 |
Equity/Other | Net change in unrealized appreciation (depreciation) | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Net realized gain (loss) | $ (55,704) | $ 154,688 |
Fair Value of Financial Instr_6
Fair Value of Financial Instruments - Schedule of Valuation Techniques and Significant Unobservable Inputs Used in Recurring Level 3 Fair Value (Details) | Jun. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Investments, at fair value | $ 1,495,602,000 | [1],[2] | $ 2,047,115,000 | [3],[4] |
Level 3—Significant unobservable inputs | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Investments, at fair value | 1,302,597,000 | 1,594,205,000 | ||
Level 3—Significant unobservable inputs | Net Senior Secured Loans—First Lien | Market Comparables | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Investments, at fair value | $ 389,381,000 | $ 413,268,000 | ||
Level 3—Significant unobservable inputs | Net Senior Secured Loans—First Lien | Market Comparables | Minimum | Market Yield | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.085 | 0.085 | ||
Level 3—Significant unobservable inputs | Net Senior Secured Loans—First Lien | Market Comparables | Minimum | EBITDA Multiples | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 4.6 | 5 | ||
Level 3—Significant unobservable inputs | Net Senior Secured Loans—First Lien | Market Comparables | Maximum | Market Yield | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.215 | 0.218 | ||
Level 3—Significant unobservable inputs | Net Senior Secured Loans—First Lien | Market Comparables | Maximum | EBITDA Multiples | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 7.2 | 7.5 | ||
Level 3—Significant unobservable inputs | Net Senior Secured Loans—First Lien | Market Comparables | Weighted Average | Market Yield | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.134 | 0.123 | ||
Level 3—Significant unobservable inputs | Net Senior Secured Loans—First Lien | Market Comparables | Weighted Average | EBITDA Multiples | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 5.3 | 6.3 | ||
Level 3—Significant unobservable inputs | Net Senior Secured Loans—First Lien | Discounted Cash Flow | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Investments, at fair value | $ 8,507,000 | $ 29,977,000 | ||
Level 3—Significant unobservable inputs | Net Senior Secured Loans—First Lien | Discounted Cash Flow | Minimum | Discount Rate | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.095 | 0.115 | ||
Level 3—Significant unobservable inputs | Net Senior Secured Loans—First Lien | Discounted Cash Flow | Maximum | Discount Rate | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.145 | 0.195 | ||
Level 3—Significant unobservable inputs | Net Senior Secured Loans—First Lien | Discounted Cash Flow | Weighted Average | Discount Rate | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.120 | 0.154 | ||
Level 3—Significant unobservable inputs | Net Senior Secured Loans—Second Lien | Market Comparables | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Investments, at fair value | $ 125,003,000 | $ 143,270,000 | ||
Level 3—Significant unobservable inputs | Net Senior Secured Loans—Second Lien | Market Comparables | Minimum | Market Yield | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.108 | 0.103 | ||
Level 3—Significant unobservable inputs | Net Senior Secured Loans—Second Lien | Market Comparables | Maximum | Market Yield | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.143 | 0.143 | ||
Level 3—Significant unobservable inputs | Net Senior Secured Loans—Second Lien | Market Comparables | Weighted Average | Market Yield | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.125 | 0.118 | ||
Level 3—Significant unobservable inputs | Senior Secured Bonds | Market Comparables | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Investments, at fair value | $ 10,015,000 | $ 10,074,000 | ||
Level 3—Significant unobservable inputs | Senior Secured Bonds | Market Comparables | Minimum | Market Yield | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.070 | 0.069 | ||
Level 3—Significant unobservable inputs | Senior Secured Bonds | Market Comparables | Maximum | Market Yield | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.080 | 0.079 | ||
Level 3—Significant unobservable inputs | Senior Secured Bonds | Market Comparables | Weighted Average | Market Yield | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.075 | 0.074 | ||
Level 3—Significant unobservable inputs | Unsecured Debt | Market Comparables | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Investments, at fair value | $ 18,289,000 | $ 19,256,000 | ||
Level 3—Significant unobservable inputs | Unsecured Debt | Market Comparables | Minimum | Market Yield | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.110 | 0.103 | ||
Level 3—Significant unobservable inputs | Unsecured Debt | Market Comparables | Maximum | Market Yield | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.120 | 0.113 | ||
Level 3—Significant unobservable inputs | Unsecured Debt | Market Comparables | Weighted Average | Market Yield | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.115 | 0.108 | ||
Level 3—Significant unobservable inputs | Unsecured Debt | Other | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Investments, at fair value | $ 37,225,000 | $ 35,118,000 | ||
Level 3—Significant unobservable inputs | Preferred Equity | Market Comparables | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Investments, at fair value | $ 301,619,000 | $ 316,767,000 | ||
Level 3—Significant unobservable inputs | Preferred Equity | Market Comparables | Minimum | Market Yield | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.093 | 0.088 | ||
Level 3—Significant unobservable inputs | Preferred Equity | Market Comparables | Minimum | EBITDA Multiples | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 11.3 | 9.5 | ||
Level 3—Significant unobservable inputs | Preferred Equity | Market Comparables | Minimum | Net Aircraft Book Value Multiple | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 1 | 1 | ||
Level 3—Significant unobservable inputs | Preferred Equity | Market Comparables | Maximum | Market Yield | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.260 | 0.303 | ||
Level 3—Significant unobservable inputs | Preferred Equity | Market Comparables | Maximum | EBITDA Multiples | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 12.3 | 10.5 | ||
Level 3—Significant unobservable inputs | Preferred Equity | Market Comparables | Maximum | Net Aircraft Book Value Multiple | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 1 | 1 | ||
Level 3—Significant unobservable inputs | Preferred Equity | Market Comparables | Weighted Average | Market Yield | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.181 | 0.190 | ||
Level 3—Significant unobservable inputs | Preferred Equity | Market Comparables | Weighted Average | EBITDA Multiples | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 11.8 | 10 | ||
Level 3—Significant unobservable inputs | Preferred Equity | Market Comparables | Weighted Average | Net Aircraft Book Value Multiple | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 1 | 1 | ||
Level 3—Significant unobservable inputs | Preferred Equity | Discounted Cash Flow | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Investments, at fair value | $ 83,647,000 | |||
Level 3—Significant unobservable inputs | Preferred Equity | Discounted Cash Flow | Minimum | Discount Rate | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.113 | |||
Level 3—Significant unobservable inputs | Preferred Equity | Discounted Cash Flow | Maximum | Discount Rate | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.123 | |||
Level 3—Significant unobservable inputs | Preferred Equity | Discounted Cash Flow | Weighted Average | Discount Rate | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.118 | |||
Level 3—Significant unobservable inputs | Sustainable Infrastructure Investments, LLC | Discounted Cash Flow | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Investments, at fair value | $ 50,149,000 | $ 51,098,000 | ||
Level 3—Significant unobservable inputs | Sustainable Infrastructure Investments, LLC | Discounted Cash Flow | Minimum | Discount Rate | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.140 | 0.135 | ||
Level 3—Significant unobservable inputs | Sustainable Infrastructure Investments, LLC | Discounted Cash Flow | Maximum | Discount Rate | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.150 | 0.145 | ||
Level 3—Significant unobservable inputs | Sustainable Infrastructure Investments, LLC | Discounted Cash Flow | Weighted Average | Discount Rate | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.145 | 0.140 | ||
Level 3—Significant unobservable inputs | Equity/Other | Market Comparables | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Investments, at fair value | $ 322,357,000 | $ 481,623,000 | ||
Level 3—Significant unobservable inputs | Equity/Other | Market Comparables | Minimum | EBITDA Multiples | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 2.6 | 1.8 | ||
Level 3—Significant unobservable inputs | Equity/Other | Market Comparables | Minimum | Production Multiples (Mboe/d) | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 27,835,000 | 27,946,000 | ||
Level 3—Significant unobservable inputs | Equity/Other | Market Comparables | Minimum | Proved Reserves Multiples (Mmboe) | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 5,800 | 6,900 | ||
Level 3—Significant unobservable inputs | Equity/Other | Market Comparables | Minimum | Production Multiples (MMcfe/d) | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 2,500,000 | 3,400,000 | ||
Level 3—Significant unobservable inputs | Equity/Other | Market Comparables | Minimum | Proved Reserves Multiples (Bcfe) | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.6 | 0.8 | ||
Level 3—Significant unobservable inputs | Equity/Other | Market Comparables | Minimum | PV-10 Multiples | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.3 | 0.5 | ||
Level 3—Significant unobservable inputs | Equity/Other | Market Comparables | Maximum | EBITDA Multiples | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 12.3 | 10.5 | ||
Level 3—Significant unobservable inputs | Equity/Other | Market Comparables | Maximum | Production Multiples (Mboe/d) | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 31,335,000 | 37,500,000 | ||
Level 3—Significant unobservable inputs | Equity/Other | Market Comparables | Maximum | Proved Reserves Multiples (Mmboe) | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 6,500 | 10,300 | ||
Level 3—Significant unobservable inputs | Equity/Other | Market Comparables | Maximum | Production Multiples (MMcfe/d) | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 3,100,000 | 3,700,000 | ||
Level 3—Significant unobservable inputs | Equity/Other | Market Comparables | Maximum | Proved Reserves Multiples (Bcfe) | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.6 | 0.9 | ||
Level 3—Significant unobservable inputs | Equity/Other | Market Comparables | Maximum | PV-10 Multiples | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.9 | 0.9 | ||
Level 3—Significant unobservable inputs | Equity/Other | Market Comparables | Weighted Average | EBITDA Multiples | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 5.5 | 5.4 | ||
Level 3—Significant unobservable inputs | Equity/Other | Market Comparables | Weighted Average | Production Multiples (Mboe/d) | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 29,573,000 | 30,265,300 | ||
Level 3—Significant unobservable inputs | Equity/Other | Market Comparables | Weighted Average | Proved Reserves Multiples (Mmboe) | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 6,200 | 7,600 | ||
Level 3—Significant unobservable inputs | Equity/Other | Market Comparables | Weighted Average | Production Multiples (MMcfe/d) | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 2,800,000 | 3,550,000 | ||
Level 3—Significant unobservable inputs | Equity/Other | Market Comparables | Weighted Average | Proved Reserves Multiples (Bcfe) | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.6 | 0.8 | ||
Level 3—Significant unobservable inputs | Equity/Other | Market Comparables | Weighted Average | PV-10 Multiples | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.8 | 0.8 | ||
Level 3—Significant unobservable inputs | Equity/Other | Discounted Cash Flow | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Investments, at fair value | $ 8,597,000 | $ 2,488,000 | ||
Level 3—Significant unobservable inputs | Equity/Other | Discounted Cash Flow | Minimum | Discount Rate | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.080 | 0.080 | ||
Level 3—Significant unobservable inputs | Equity/Other | Discounted Cash Flow | Maximum | Discount Rate | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.340 | 0.330 | ||
Level 3—Significant unobservable inputs | Equity/Other | Discounted Cash Flow | Weighted Average | Discount Rate | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.154 | 0.238 | ||
Level 3—Significant unobservable inputs | Equity/Other | Other | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Investments, at fair value | $ 24,355,000 | $ 1,885,000 | ||
Level 3—Significant unobservable inputs | Equity/Other | Option Valuation Model | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Investments, at fair value | $ 7,100,000 | $ 5,734,000 | ||
Level 3—Significant unobservable inputs | Equity/Other | Option Valuation Model | Minimum | Volatility | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.274 | 0.315 | ||
Level 3—Significant unobservable inputs | Equity/Other | Option Valuation Model | Maximum | Volatility | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.650 | 0.551 | ||
Level 3—Significant unobservable inputs | Equity/Other | Option Valuation Model | Weighted Average | Volatility | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.406 | 0.366 | ||
[1]Security may be an obligation of one or more entities affiliated with the named company.[2]See Note 8 for additional information regarding the fair value of the Company’s financial instruments.[3]Security may be an obligation of one or more entities affiliated with the named company.[4]See Note 8 for additional information regarding the fair value of the Company’s financial instruments. |
Financing Arrangements - Outsta
Financing Arrangements - Outstanding Financing Arrangements (Details) - USD ($) | 4 Months Ended | 6 Months Ended | 12 Months Ended | |||
May 15, 2023 | Feb. 14, 2023 | May 15, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Aug. 16, 2018 | |
Debt Instrument [Line Items] | ||||||
Amount Outstanding | $ 0 | $ 762,751,000 | ||||
Amount Available | $ 0 | |||||
Senior Notes | ||||||
Debt Instrument [Line Items] | ||||||
Redemption percentage | 100% | |||||
Senior Notes | Debt Instrument, Redemption, Period One | ||||||
Debt Instrument [Line Items] | ||||||
Redemption percentage | 100% | |||||
Senior Notes | Debt Instrument, Redemption, Period Two | ||||||
Debt Instrument [Line Items] | ||||||
Redemption percentage | 100% | |||||
Senior Secured Notes | Secured Debt | ||||||
Debt Instrument [Line Items] | ||||||
Stated interest rate | 7.50% | 7.50% | ||||
Amount Outstanding | $ 457,075,000 | |||||
Amount Available | 0 | |||||
Fair value | 458,908,000 | |||||
JPMorgan Facility | Line of Credit | ||||||
Debt Instrument [Line Items] | ||||||
Amount Outstanding | 305,676,000 | |||||
Amount Available | $ 0 | |||||
Debt instrument, variable rate floor | 0% | |||||
JPMorgan Facility | Line of Credit | London Interbank Offered Rate (LIBOR) | ||||||
Debt Instrument [Line Items] | ||||||
Basis spread on variable rate | 3% | 3% | ||||
Debt instrument, variable rate floor | 0% |
Financing Arrangements - Intere
Financing Arrangements - Interest Expense (Details) - USD ($) $ in Thousands | 4 Months Ended | 6 Months Ended | ||
May 15, 2023 | May 15, 2023 | Jun. 30, 2023 | Jun. 30, 2022 | |
Short-Term Debt [Line Items] | ||||
Direct Interest Expense | $ 15,550 | $ 23,172 | ||
Amortization of Deferred Financing Costs and Discount | 2,778 | 3,718 | ||
Total Interest Expense | 18,328 | 26,890 | ||
Senior Notes | ||||
Short-Term Debt [Line Items] | ||||
Redemption percentage | 100% | |||
Senior Notes | Debt Instrument, Redemption, Period One | ||||
Short-Term Debt [Line Items] | ||||
Redemption percentage | 100% | |||
Senior Notes | Debt Instrument, Redemption, Period Two | ||||
Short-Term Debt [Line Items] | ||||
Redemption percentage | 100% | |||
JPMorgan Facility | Line of Credit | ||||
Short-Term Debt [Line Items] | ||||
Direct Interest Expense | 2,790 | 5,364 | ||
Amortization of Deferred Financing Costs and Discount | 238 | 1,365 | ||
Total Interest Expense | 3,028 | 6,729 | ||
Senior Secured Notes | Secured Debt | ||||
Short-Term Debt [Line Items] | ||||
Direct Interest Expense | 12,760 | 17,808 | ||
Amortization of Deferred Financing Costs and Discount | 2,540 | 2,353 | ||
Total Interest Expense | $ 15,300 | $ 20,161 |
Financing Arrangements - Narrat
Financing Arrangements - Narrative (Details) - USD ($) | 4 Months Ended | 6 Months Ended | 12 Months Ended | ||||
May 15, 2023 | Feb. 14, 2023 | May 15, 2023 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Aug. 16, 2018 | |
Debt Instrument [Line Items] | |||||||
Outstanding amount | $ 0 | $ 762,751,000 | |||||
Amount outstanding | $ 557,446,000 | $ 774,853,000 | |||||
Average outstanding | 7.49% | 7.49% | 6.90% | ||||
Debt instrument, interest rate, effective percentage | 6.34% | ||||||
Senior Notes | |||||||
Debt Instrument [Line Items] | |||||||
Redemption percentage | 100% | ||||||
Senior Notes | Debt Instrument, Redemption, Period One | |||||||
Debt Instrument [Line Items] | |||||||
Redemption percentage | 100% | ||||||
Senior Notes | Debt Instrument, Redemption, Period Two | |||||||
Debt Instrument [Line Items] | |||||||
Redemption percentage | 100% | ||||||
JPMorgan Facility | Line of Credit | |||||||
Debt Instrument [Line Items] | |||||||
Outstanding amount | $ 305,676,000 | ||||||
Principal amount outstanding | $ 305,676,000 | ||||||
Debt instrument, variable rate floor | 0% | ||||||
JPMorgan Facility | Line of Credit | London Interbank Offered Rate (LIBOR) | |||||||
Debt Instrument [Line Items] | |||||||
Debt instrument, variable rate floor | 0% | ||||||
Basis spread on variable rate | 3% | 3% | |||||
Senior Secured Notes | Secured Debt | |||||||
Debt Instrument [Line Items] | |||||||
Outstanding amount | $ 457,075,000 | ||||||
Principal amount outstanding | $ 500,000,000 | ||||||
Stated interest rate | 7.50% | 7.50% |
Financial Highlights (Details)
Financial Highlights (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||
Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2021 | |
Investment Company, Financial Highlights [Roll Forward] | |||||||||
Net asset value, beginning of period (in USD per Share) | $ 3.88 | $ 3.59 | $ 3.88 | $ 3.59 | $ 3.59 | ||||
Results of operations | |||||||||
Net investment income (in USD per share) | 0.09 | 0.16 | |||||||
Net realized gain (loss) and unrealized appreciation (depreciation) (in USD per share) | (0.21) | 0.25 | |||||||
Net increase (decrease) in net assets resulting from operations (in USD per share) | (0.12) | 0.41 | |||||||
Distribution Amount | |||||||||
Distributions from net investment income (in USD per share) | (0.06) | (0.12) | |||||||
Net decrease in net assets resulting from shareholder distributions (in USD per share) | $ (0.03) | $ (0.03) | $ (0.03) | $ (0.03) | (0.06) | $ (0.06) | (0.12) | ||
Capital share transactions | |||||||||
Issuance of common shares (in USD per share) | 0 | 0 | |||||||
Net increase (decrease) in net assets resulting from capital share transactions (in USD per share) | 0 | 0 | |||||||
Net asset value, end of period (in USD per share) | $ 3.70 | $ 3.70 | $ 3.88 | ||||||
Shares outstanding, end of period (in shares) | 454,129,547 | 454,129,547 | 451,465,673 | ||||||
Total return | (3.13%) | 11.39% | |||||||
Total return (without assuming reinvestment of distributions) | (3.09%) | 11.29% | |||||||
Ratio/Supplemental Data: | |||||||||
Net assets, end of period | $ 1,679,723,000 | $ 1,712,828,000 | $ 1,791,255,000 | $ 1,679,723,000 | $ 1,791,255,000 | $ 1,753,748,000 | $ 1,602,323,000 | $ 1,783,915,000 | |
Ratio of net investment income to average net assets | 4.46% | 4.02% | |||||||
Ratio of total operating expenses to average net assets | 5.25% | 6.78% | |||||||
Ratio of management fee offset to average net assets | (0.02%) | (0.15%) | |||||||
Ratio of net operating expenses to average net assets | 5.23% | 6.63% | |||||||
Ratio of interest expense to average net assets | 2.10% | 3.21% | |||||||
Portfolio turnover | 5.11% | 16.15% | |||||||
Total amount of senior securities outstanding, exclusive of treasury securities | $ 0 | $ 0 | $ 762,751,000 | ||||||
Asset coverage per unit | 0% | 0% | 330% | ||||||
Ratio of net investment income to average net assets if advisor had not agreement to offset management fee payable | 4.44% | 3.87% |