Cover
Cover - shares | 3 Months Ended | |
Mar. 31, 2023 | May 11, 2023 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2023 | |
Document Transition Report | false | |
Entity File Number | 814-01219 | |
Entity Registrant Name | Owl Rock Capital Corp II | |
Entity Incorporation, State or Country Code | MD | |
Entity Tax Identification Number | 47-5416332 | |
Entity Address, Address Line One | 399 Park Avenue | |
Entity Address, City or Town | New York | |
Entity Address, State or Province | NY | |
Entity Address, Postal Zip Code | 10022 | |
City Area Code | 212 | |
Local Phone Number | 419-3000 | |
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 | 145,675,839 | |
Amendment flag | false | |
Document Fiscal Year Focus | 2023 | |
Document Fiscal Period Focus | Q1 | |
Current Fiscal Year End Date | --12-31 | |
Entity Central Index Key | 0001655887 |
Consolidated Statements of Asse
Consolidated Statements of Assets and Liabilities - USD ($) | Mar. 31, 2023 | Dec. 31, 2022 | ||
Assets | ||||
Investments at fair value | $ 2,231,038,000 | [1],[2],[3],[4] | $ 2,259,492,000 | [5],[6],[7],[8] |
Cash | 80,434,000 | 44,219,000 | ||
Foreign cash (cost of $659 and $3,020, respectively) | 660,000 | 3,056,000 | ||
Interest receivable | 18,875,000 | 18,769,000 | ||
Prepaid expenses and other assets | 1,108,000 | 914,000 | ||
Total Assets | 2,332,115,000 | 2,326,450,000 | ||
Liabilities | ||||
Debt (net of deferred unamortized debt issuance costs of $3,388 and $3,550, respectively) | 995,834,000 | 996,673,000 | ||
Payables to affiliates | 22,382,000 | 16,827,000 | ||
Accrued expenses and other liabilities | 22,726,000 | 16,689,000 | ||
Total Liabilities | 1,040,942,000 | 1,030,189,000 | ||
Commitments and contingencies (Note 7) | ||||
Net Assets | ||||
Common shares $0.01 par value, 450,000,000 shares authorized; 145,173,088 and 146,505,284 shares issued and outstanding, respectively | 1,452,000 | 1,465,000 | ||
Additional paid-in-capital | 1,299,763,000 | 1,311,619,000 | ||
Accumulated undistributed (overdistributed) earnings | (10,042,000) | (16,823,000) | ||
Total Net Assets | 1,291,173,000 | 1,296,261,000 | ||
Total Liabilities and Net Assets | $ 2,332,115,000 | $ 2,326,450,000 | ||
Net Asset Value Per Share (in usd per share) | $ 8.89 | $ 8.85 | ||
Investment income from non-controlled, non-affiliated investments: | ||||
Assets | ||||
Investments at fair value | $ 2,199,867,000 | $ 2,239,445,000 | ||
Non-controlled, affiliated investments | ||||
Assets | ||||
Investments at fair value | $ 31,171,000 | $ 20,047,000 | ||
[1]Certain portfolio company investments are subject to contractual restrictions on sales.[2]Unless otherwise indicated, all investments are considered Level 3 investments.[3]Unless otherwise indicated, all investments are non-controlled, non-affiliated investments. Non-controlled, non-affiliated investments are defined as investments in which the Company owns less than 5% of the portfolio company’s outstanding voting securities and does not have the power to exercise control over the management or policies of such portfolio company.[4]Unless otherwise indicated, all or a portion of the Company’s portfolio companies are pledged as collateral supporting the available capacity under the SPV Asset Facilities. See Note 6 “Debt.”[5]Certain portfolio company investments are subject to contractual restrictions on sales.[6]Unless otherwise indicated, all investments are considered Level 3 investments.[7]Unless otherwise indicated, all investments are non-controlled, non-affiliated investments. Non-controlled, non-affiliated investments are defined as investments in which the Company owns less than 5% of the portfolio company’s outstanding voting securities and does not have the power to exercise control over the management or policies of such portfolio company.[8]Unless otherwise indicated, all or a portion of the Company’s portfolio companies are pledged as collateral supporting the available capacity under the SPV Asset Facilities. See Note 6 “Debt.” |
Consolidated Statements of As_2
Consolidated Statements of Assets and Liabilities (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2023 | Dec. 31, 2022 | |||
Amortized Cost | $ 2,228,183 | [1],[2],[3],[4],[5],[6] | $ 2,268,952 | [7],[8],[9],[10],[11] |
Foreign cash, cost | 659 | 3,020 | ||
Unamortized debt issuance costs | $ 3,388 | $ 3,550 | ||
Common stock per share | $ 0.01 | $ 0.01 | ||
Common shares authorized (in shares) | 450,000,000 | 450,000,000 | ||
Common stock, shares, issued (in shares) | 145,173,088 | 146,505,284 | ||
Common stock, shares outstanding (in shares) | 145,173,088 | 146,505,284 | ||
Investment income from non-controlled, non-affiliated investments: | ||||
Amortized Cost | $ 2,203,263 | $ 2,255,113 | ||
Non-controlled, affiliated investments | ||||
Amortized Cost | $ 24,920 | $ 13,839 | ||
[1]As of March 31, 2023, the net estimated unrealized loss for U.S. federal income tax purposes was $13.3 million based on a tax cost basis of $2.2 billion. As of March 31, 2023, the estimated aggregate gross unrealized loss for U.S. federal income tax purposes was $55.0 million and the estimated aggregate gross unrealized gain for U.S. federal income tax purposes was $41.7 million.[2]Certain portfolio company investments are subject to contractual restrictions on sales.[3]The amortized cost represents the original cost adjusted for the accretion and amortization of discounts and premiums, as applicable, on debt investments using the effective interest method.[4]Unless otherwise indicated, all investments are considered Level 3 investments.[5]Unless otherwise indicated, all investments are non-controlled, non-affiliated investments. Non-controlled, non-affiliated investments are defined as investments in which the Company owns less than 5% of the portfolio company’s outstanding voting securities and does not have the power to exercise control over the management or policies of such portfolio company.[6]Unless otherwise indicated, all or a portion of the Company’s portfolio companies are pledged as collateral supporting the available capacity under the SPV Asset Facilities. See Note 6 “Debt.”[7]As of December 31, 2022, the net estimated unrealized loss for U.S. federal income tax purposes was $21.5 million based on a tax cost basis of $2.3 billion. As of December 31, 2022, the estimated aggregate gross unrealized loss for U.S. federal income tax purposes was $61.9 million and the estimated aggregate gross unrealized gain for U.S. federal income tax purposes was $40.4 million.[8]Certain portfolio company investments are subject to contractual restrictions on sales.[9]Unless otherwise indicated, all investments are considered Level 3 investments.[10]Unless otherwise indicated, all investments are non-controlled, non-affiliated investments. Non-controlled, non-affiliated investments are defined as investments in which the Company owns less than 5% of the portfolio company’s outstanding voting securities and does not have the power to exercise control over the management or policies of such portfolio company.[11]Unless otherwise indicated, all or a portion of the Company’s portfolio companies are pledged as collateral supporting the available capacity under the SPV Asset Facilities. See Note 6 “Debt.” |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Investment Income | ||
Total investment income from non-controlled, non-affiliated investments | $ 67,223 | $ 48,379 |
Operating Expenses | ||
Interest expense | 15,934 | 10,257 |
Management fee | 8,504 | 9,084 |
Performance based incentive fees | 6,946 | 3,357 |
Professional fees | 1,268 | 1,393 |
Directors' fees | 195 | 314 |
Other general and administrative | 767 | 721 |
Total Operating Expenses | 33,614 | 25,126 |
Recoupment of expense support (Note 3) | 5,857 | 0 |
Net Operating Expenses | 39,471 | 25,126 |
Net Investment Income (Loss) Before Taxes | 27,752 | 23,253 |
Income tax expense (benefit), including excise tax expense (benefit) | 864 | 269 |
Net Investment Income (Loss) | 26,888 | 22,984 |
Net change in unrealized gain (loss): | ||
Net Change in Unrealized Gain/(Loss) | 11,058 | (12,300) |
Income tax (provision) benefit | (94) | 0 |
Translation of assets and liabilities in foreign currencies | 1,221 | (1,419) |
Total Net Change in Unrealized Gain (Loss) | 12,185 | (13,719) |
Net realized gain (loss): | ||
Foreign currency transactions | 14 | (55) |
Total Net Realized Gain (Loss) | (7,738) | 740 |
Total Net Realized and Change in Unrealized Gain (Loss) | 4,447 | (12,979) |
Net Increase (Decrease) in Net Assets Resulting from Operations | $ 31,335 | $ 10,005 |
Earnings Per Share - Basic (in usd per share) | $ 0.21 | $ 0.07 |
Earnings Per Share - Diluted (in usd per share) | $ 0.21 | $ 0.07 |
Weighted Average Shares Outstanding - Basic (in shares) | 146,892,513 | 151,788,770 |
Weighted Average Shares Outstanding - Diluted (in shares) | 146,892,513 | 151,788,770 |
Investment income from non-controlled, non-affiliated investments: | ||
Investment Income | ||
Interest income | $ 55,205 | $ 40,863 |
Payment-in-kind interest income | 7,041 | 4,037 |
Dividend income | 3,984 | 2,535 |
Other income | 464 | 740 |
Total investment income from non-controlled, non-affiliated investments | 66,694 | 48,175 |
Net change in unrealized gain (loss): | ||
Net Change in Unrealized Gain/(Loss) | 11,014 | (12,292) |
Net realized gain (loss): | ||
Non-controlled, non-affiliated investments | (7,752) | 795 |
Investment income from non-controlled, affiliated investments: | ||
Investment Income | ||
Interest income | 260 | 184 |
Dividend income | 221 | 0 |
Other income | 48 | 20 |
Total investment income from non-controlled, non-affiliated investments | 529 | 204 |
Net change in unrealized gain (loss): | ||
Net Change in Unrealized Gain/(Loss) | 44 | |
Net realized gain (loss): | ||
Non-controlled, non-affiliated investments | 0 | |
Non-controlled, affiliated investments | ||
Net change in unrealized gain (loss): | ||
Net Change in Unrealized Gain/(Loss) | $ 44 | $ (8) |
Consolidated Schedule of Invest
Consolidated Schedule of Investments - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 2,228,183 | [1],[2],[3],[4],[5],[6] | $ 2,268,952 | [7],[8],[9],[10],[11] | ||
Fair Value | $ 2,231,038 | [2],[4],[5],[6] | $ 2,259,492 | [8],[9],[10],[11] | ||
Percentage of Net Assets | 17,280% | [2],[4],[5],[6] | 17,430% | [8],[9],[10],[11] | ||
Investment income from non-controlled, non-affiliated investments: | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 2,203,263 | $ 2,255,113 | ||||
Fair Value | $ 2,199,867 | $ 2,239,445 | ||||
Percentage of Net Assets | 17,030% | 17,270% | ||||
Investment income from non-controlled, non-affiliated investments: | Debt Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Par / Units | $ 2,118,318 | $ 2,173,915 | ||||
Amortized Cost | 2,091,831 | 2,146,282 | ||||
Fair Value | $ 2,063,467 | $ 2,106,669 | ||||
Percentage of Net Assets | 15,980% | 16,250% | ||||
Investment income from non-controlled, non-affiliated investments: | Equity Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 111,432 | $ 108,831 | ||||
Fair Value | $ 136,400 | $ 132,776 | ||||
Percentage of Net Assets | 1,050% | 1,020% | ||||
Investment income from non-controlled, non-affiliated investments: | Advertising and media | Debt Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Par / Units | $ 926 | $ 928 | ||||
Amortized Cost | 910 | 911 | ||||
Fair Value | $ 926 | $ 928 | ||||
Percentage of Net Assets | 10% | 10% | ||||
Investment income from non-controlled, non-affiliated investments: | Aerospace and defense | Debt Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Par / Units | $ 87,171 | $ 86,714 | ||||
Amortized Cost | 86,536 | 86,019 | ||||
Fair Value | $ 78,763 | $ 77,710 | ||||
Percentage of Net Assets | 610% | 610% | ||||
Investment income from non-controlled, non-affiliated investments: | Asset based lending and fund finance | Debt Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Par / Units | $ 33,146 | $ 30,962 | ||||
Amortized Cost | 36,025 | 34,683 | ||||
Fair Value | $ 32,885 | $ 30,661 | ||||
Percentage of Net Assets | 260% | 240% | ||||
Investment income from non-controlled, non-affiliated investments: | Asset based lending and fund finance | Equity Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 343 | $ 88 | ||||
Fair Value | $ 345 | $ 87 | ||||
Percentage of Net Assets | 0% | 0% | ||||
Investment income from non-controlled, non-affiliated investments: | Buildings and real estate | Debt Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Par / Units | $ 60,905 | $ 84,347 | ||||
Amortized Cost | 60,401 | 83,632 | ||||
Fair Value | $ 60,523 | $ 83,861 | ||||
Percentage of Net Assets | 470% | 650% | ||||
Investment income from non-controlled, non-affiliated investments: | Buildings and real estate | Equity Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 11,003 | $ 10,679 | ||||
Fair Value | $ 11,152 | $ 10,732 | ||||
Percentage of Net Assets | 80% | 80% | ||||
Investment income from non-controlled, non-affiliated investments: | Business services | Debt Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Par / Units | $ 79,987 | $ 79,894 | ||||
Amortized Cost | 72,816 | 72,695 | ||||
Fair Value | $ 69,568 | $ 69,255 | ||||
Percentage of Net Assets | 540% | 530% | ||||
Investment income from non-controlled, non-affiliated investments: | Business services | Equity Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 1,190 | $ 1,165 | ||||
Fair Value | $ 1,330 | $ 1,302 | ||||
Percentage of Net Assets | 0% | 0% | ||||
Investment income from non-controlled, non-affiliated investments: | Chemicals | Debt Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Par / Units | $ 59,183 | $ 61,891 | ||||
Amortized Cost | 58,575 | 61,234 | ||||
Fair Value | $ 58,817 | $ 61,514 | ||||
Percentage of Net Assets | 450% | 460% | ||||
Investment income from non-controlled, non-affiliated investments: | Consumer products | Debt Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Par / Units | $ 107,037 | $ 106,066 | ||||
Amortized Cost | 105,767 | 104,742 | ||||
Fair Value | $ 101,316 | $ 100,480 | ||||
Percentage of Net Assets | 780% | 770% | ||||
Investment income from non-controlled, non-affiliated investments: | Consumer products | Equity Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 1,286 | $ 1,286 | ||||
Fair Value | $ 1,153 | $ 1,153 | ||||
Percentage of Net Assets | 10% | 10% | ||||
Investment income from non-controlled, non-affiliated investments: | Containers and packaging | Debt Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Par / Units | $ 32,586 | $ 32,340 | ||||
Amortized Cost | 32,125 | 31,871 | ||||
Fair Value | $ 32,334 | $ 32,002 | ||||
Percentage of Net Assets | 260% | 250% | ||||
Investment income from non-controlled, non-affiliated investments: | Distribution | Debt Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Par / Units | $ 73,042 | $ 72,803 | ||||
Amortized Cost | 72,406 | 72,105 | ||||
Fair Value | $ 72,992 | $ 72,685 | ||||
Percentage of Net Assets | 560% | 560% | ||||
Investment income from non-controlled, non-affiliated investments: | Education | Debt Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Par / Units | $ 26,680 | $ 26,680 | ||||
Amortized Cost | 26,467 | 26,419 | ||||
Fair Value | $ 26,271 | $ 26,123 | ||||
Percentage of Net Assets | 200% | 200% | ||||
Investment income from non-controlled, non-affiliated investments: | Financial services | Debt Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Par / Units | $ 122,263 | $ 122,381 | ||||
Amortized Cost | 122,131 | 122,159 | ||||
Fair Value | $ 121,576 | $ 120,123 | ||||
Percentage of Net Assets | 960% | 940% | ||||
Investment income from non-controlled, non-affiliated investments: | Food and beverage | Debt Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Par / Units | $ 163,503 | $ 172,358 | ||||
Amortized Cost | 161,813 | 170,442 | ||||
Fair Value | $ 154,193 | $ 164,913 | ||||
Percentage of Net Assets | 1,190% | 1,270% | ||||
Investment income from non-controlled, non-affiliated investments: | Food and beverage | Equity Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 1,700 | $ 1,700 | ||||
Fair Value | $ 1,478 | $ 1,478 | ||||
Percentage of Net Assets | 10% | 10% | ||||
Investment income from non-controlled, non-affiliated investments: | Healthcare equipment and services | Debt Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Par / Units | $ 81,909 | $ 82,334 | ||||
Amortized Cost | 80,966 | 81,496 | ||||
Fair Value | $ 79,576 | $ 79,672 | ||||
Percentage of Net Assets | 610% | 610% | ||||
Investment income from non-controlled, non-affiliated investments: | Healthcare equipment and services | Equity Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 7,872 | $ 7,840 | ||||
Fair Value | $ 8,573 | $ 8,499 | ||||
Percentage of Net Assets | 60% | 60% | ||||
Investment income from non-controlled, non-affiliated investments: | Healthcare providers and services | Debt Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Par / Units | $ 114,265 | $ 113,787 | ||||
Amortized Cost | 112,773 | 112,219 | ||||
Fair Value | $ 112,502 | $ 111,562 | ||||
Percentage of Net Assets | 900% | 870% | ||||
Investment income from non-controlled, non-affiliated investments: | Healthcare providers and services | Equity Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 1,291 | $ 1,291 | ||||
Fair Value | $ 1,199 | $ 1,199 | ||||
Percentage of Net Assets | 10% | 10% | ||||
Investment income from non-controlled, non-affiliated investments: | Healthcare technology | Debt Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Par / Units | $ 136,215 | $ 135,127 | ||||
Amortized Cost | 134,674 | 133,595 | ||||
Fair Value | $ 134,281 | $ 133,075 | ||||
Percentage of Net Assets | 1,050% | 1,040% | ||||
Investment income from non-controlled, non-affiliated investments: | Healthcare technology | Equity Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 1,080 | $ 1,362 | ||||
Fair Value | $ 1,005 | $ 1,271 | ||||
Percentage of Net Assets | 10% | 10% | ||||
Investment income from non-controlled, non-affiliated investments: | Household products | Debt Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Par / Units | $ 42,583 | $ 58,104 | ||||
Amortized Cost | 41,787 | 56,653 | ||||
Fair Value | $ 42,147 | $ 48,955 | ||||
Percentage of Net Assets | 320% | 370% | ||||
Investment income from non-controlled, non-affiliated investments: | Household products | Equity Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 540 | $ 540 | ||||
Fair Value | $ 854 | $ 795 | ||||
Percentage of Net Assets | 10% | 10% | ||||
Investment income from non-controlled, non-affiliated investments: | Human resource support services | Debt Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Par / Units | $ 25,805 | $ 26,117 | ||||
Amortized Cost | 25,428 | 25,728 | ||||
Fair Value | $ 25,065 | $ 25,327 | ||||
Percentage of Net Assets | 190% | 190% | ||||
Investment income from non-controlled, non-affiliated investments: | Human resource support services | Equity Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 6,107 | $ 5,791 | ||||
Fair Value | $ 5,636 | $ 5,353 | ||||
Percentage of Net Assets | 40% | 40% | ||||
Investment income from non-controlled, non-affiliated investments: | Infrastructure and environmental services | Debt Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Par / Units | $ 9,149 | $ 9,879 | ||||
Amortized Cost | 9,171 | 9,890 | ||||
Fair Value | $ 8,716 | $ 9,358 | ||||
Percentage of Net Assets | 70% | 80% | ||||
Investment income from non-controlled, non-affiliated investments: | Insurance | Debt Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Par / Units | $ 170,554 | $ 169,555 | ||||
Amortized Cost | 166,996 | 166,032 | ||||
Fair Value | $ 167,300 | $ 165,655 | ||||
Percentage of Net Assets | 1,290% | 1,260% | ||||
Investment income from non-controlled, non-affiliated investments: | Insurance | Equity Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 9,802 | $ 9,732 | ||||
Fair Value | $ 14,017 | $ 13,830 | ||||
Percentage of Net Assets | 110% | 110% | ||||
Investment income from non-controlled, non-affiliated investments: | Internet software and services | Debt Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Par / Units | $ 304,288 | $ 303,399 | ||||
Amortized Cost | 301,276 | 300,228 | ||||
Fair Value | $ 298,892 | $ 297,412 | ||||
Percentage of Net Assets | 2,300% | 2,290% | ||||
Investment income from non-controlled, non-affiliated investments: | Internet software and services | Equity Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 10,344 | $ 10,209 | ||||
Fair Value | $ 10,040 | $ 9,852 | ||||
Percentage of Net Assets | 80% | 80% | ||||
Investment income from non-controlled, non-affiliated investments: | Leisure and entertainment | Debt Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Par / Units | $ 60,564 | $ 60,718 | ||||
Amortized Cost | 60,315 | 60,457 | ||||
Fair Value | $ 60,564 | $ 60,718 | ||||
Percentage of Net Assets | 470% | 470% | ||||
Investment income from non-controlled, non-affiliated investments: | Manufacturing | Debt Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Par / Units | $ 118,615 | $ 118,646 | ||||
Amortized Cost | 116,432 | 116,350 | ||||
Fair Value | $ 117,775 | $ 117,531 | ||||
Percentage of Net Assets | 900% | 900% | ||||
Investment income from non-controlled, non-affiliated investments: | Manufacturing | Equity Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 20,806 | $ 20,806 | ||||
Fair Value | $ 41,656 | $ 41,301 | ||||
Percentage of Net Assets | 330% | 320% | ||||
Investment income from non-controlled, non-affiliated investments: | Oil and gas | Debt Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Par / Units | $ 13,964 | $ 24,998 | ||||
Amortized Cost | 13,849 | 24,752 | ||||
Fair Value | $ 13,838 | $ 24,998 | ||||
Percentage of Net Assets | 110% | 190% | ||||
Investment income from non-controlled, non-affiliated investments: | Professional services | Debt Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Par / Units | $ 53,996 | $ 54,108 | ||||
Amortized Cost | 53,518 | 53,595 | ||||
Fair Value | $ 53,587 | $ 53,304 | ||||
Percentage of Net Assets | 400% | 400% | ||||
Investment income from non-controlled, non-affiliated investments: | Specialty retail | Debt Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Par / Units | $ 72,723 | $ 72,417 | ||||
Amortized Cost | 72,045 | 71,694 | ||||
Fair Value | $ 72,041 | $ 71,734 | ||||
Percentage of Net Assets | 560% | 570% | ||||
Investment income from non-controlled, non-affiliated investments: | Transportation | Debt Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Par / Units | $ 67,259 | $ 67,362 | ||||
Amortized Cost | 66,629 | 66,681 | ||||
Fair Value | $ 67,019 | $ 67,113 | ||||
Percentage of Net Assets | 520% | 520% | ||||
Investment income from non-controlled, non-affiliated investments: | Automotive | Equity Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 37,005 | $ 36,342 | ||||
Fair Value | $ 36,901 | $ 35,924 | ||||
Percentage of Net Assets | 290% | 280% | ||||
Non-controlled, affiliated investments | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 24,920 | $ 13,839 | ||||
Fair Value | $ 31,171 | $ 20,047 | ||||
Percentage of Net Assets | 250% | 160% | ||||
Non-controlled, affiliated investments | Debt Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Par / Units | $ 14,367 | $ 7,942 | ||||
Amortized Cost | 14,218 | 7,887 | ||||
Fair Value | $ 14,282 | $ 7,921 | ||||
Percentage of Net Assets | 120% | 70% | ||||
Non-controlled, affiliated investments | Equity Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 10,702 | $ 5,952 | ||||
Fair Value | $ 16,889 | $ 12,126 | ||||
Percentage of Net Assets | 130% | 90% | ||||
Non-controlled, affiliated investments | Advertising and media | Debt Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Par / Units | $ 7,888 | $ 7,942 | ||||
Amortized Cost | 7,842 | 7,887 | ||||
Fair Value | $ 7,888 | $ 7,921 | ||||
Percentage of Net Assets | 60% | 70% | ||||
Non-controlled, affiliated investments | Advertising and media | Equity Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 5,952 | $ 5,952 | ||||
Fair Value | $ 12,139 | $ 12,126 | ||||
Percentage of Net Assets | 90% | 90% | ||||
Non-controlled, affiliated investments | Household products | Debt Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Par / Units | $ 6,479 | |||||
Amortized Cost | 6,376 | |||||
Fair Value | $ 6,394 | |||||
Percentage of Net Assets | 60% | |||||
Non-controlled, affiliated investments | Household products | Equity Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 4,750 | |||||
Fair Value | $ 4,750 | |||||
Percentage of Net Assets | 40% | |||||
Non-controlled, affiliated investments | Pharmaceuticals | Equity Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 1,063 | |||||
Fair Value | $ 1,061 | |||||
Percentage of Net Assets | 10% | |||||
Investment, Identifier [Axis]: 3ES Innovation Inc. (dba Aucerna), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.50% | [12],[13],[14] | 6.50% | [15],[16],[17] | ||
Par / Units | $ 10,673 | [12],[13],[14] | $ 10,700 | [15],[16],[17] | ||
Amortized Cost | 10,610 | [12],[13],[14] | 10,631 | [15],[16],[17] | ||
Fair Value | $ 10,673 | [12],[13],[14] | $ 10,647 | [15],[16],[17] | ||
Percentage of Net Assets | 80% | [12],[13],[14] | 80% | [15],[16],[17] | ||
Investment, Identifier [Axis]: 3ES Innovation Inc. (dba Aucerna), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.50% | [12],[13],[14],[18],[19] | 6.50% | [15],[16],[17],[20],[21] | ||
Par / Units | $ 300 | [12],[13],[14],[18],[19] | $ 300 | [15],[16],[17],[20],[21] | ||
Amortized Cost | 297 | [12],[13],[14],[18],[19] | 297 | [15],[16],[17],[20],[21] | ||
Fair Value | $ 300 | [12],[13],[14],[18],[19] | $ 297 | [15],[16],[17],[20],[21] | ||
Percentage of Net Assets | 0% | [12],[13],[14],[18],[19] | 0% | [15],[16],[17],[20],[21] | ||
Investment, Identifier [Axis]: AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC, LLC Interest | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 0 | [12],[14],[18],[19],[22],[23] | $ 0 | [15],[17],[20],[21],[24],[25] | ||
Fair Value | $ 0 | [12],[14],[18],[19],[22],[23] | $ 0 | [15],[17],[20],[21],[24],[25] | ||
Percentage of Net Assets | 0% | [12],[14],[18],[19],[22],[23] | 0% | [15],[17],[20],[21],[24],[25] | ||
Investment Owned, Balance, Shares | 0 | [12],[14],[18],[19],[22],[23] | 0 | [15],[17],[20],[21],[24],[25] | ||
Investment, Identifier [Axis]: AAM Series 2.1 Aviation Feeder, LLC, LLC Interest | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 343 | [12],[14],[18],[19],[22],[23] | $ 88 | [15],[17],[20],[21],[24],[25] | ||
Fair Value | $ 345 | [12],[14],[18],[19],[22],[23] | $ 87 | [15],[17],[20],[21],[24],[25] | ||
Percentage of Net Assets | 0% | [12],[14],[18],[19],[22],[23] | 0% | [15],[17],[20],[21],[24],[25] | ||
Investment Owned, Balance, Shares | 87 | [12],[14],[18],[19],[22],[23] | 87 | [15],[17],[20],[21],[24],[25] | ||
Investment, Identifier [Axis]: ABB/Con-cise Optical Group LLC, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 7.50% | [12],[18],[26] | 7.50% | [15],[20],[27] | ||
Par / Units | $ 897 | [12],[18],[26] | $ 899 | [15],[20],[27] | ||
Amortized Cost | 885 | [12],[18],[26] | 887 | [15],[20],[27] | ||
Fair Value | $ 876 | [12],[18],[26] | $ 897 | [15],[20],[27] | ||
Percentage of Net Assets | 10% | [12],[18],[26] | 10% | [15],[20],[27] | ||
Investment, Identifier [Axis]: ABB/Con-cise Optical Group LLC, First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 7.50% | [12],[18],[19],[26] | 7.50% | [15],[20],[21],[27] | ||
Par / Units | $ 90 | [12],[18],[19],[26] | $ 90 | [15],[20],[21],[27] | ||
Amortized Cost | 88 | [12],[18],[19],[26] | 88 | [15],[20],[21],[27] | ||
Fair Value | $ 90 | [12],[18],[19],[26] | $ 89 | [15],[20],[21],[27] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[26] | 0% | [15],[20],[21],[27] | ||
Investment, Identifier [Axis]: ASP Conair Holdings LP, Class A Units | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 1,286 | [12],[18],[22],[23] | $ 1,286 | [15],[20],[24],[25] | ||
Fair Value | $ 1,153 | [12],[18],[22],[23] | $ 1,153 | [15],[20],[24],[25] | ||
Percentage of Net Assets | 10% | [12],[18],[22],[23] | 10% | [15],[20],[24],[25] | ||
Investment Owned, Balance, Shares | 12,857 | [12],[18],[22],[23] | 12,857 | [15],[20],[24],[25] | ||
Investment, Identifier [Axis]: Access CIG, LLC, Second lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 7.75% | [12],[28] | 7.75% | [15],[29] | ||
Par / Units | $ 24,564 | [12],[28] | $ 24,564 | [15],[29] | ||
Amortized Cost | 24,504 | [12],[28] | 24,500 | [15],[29] | ||
Fair Value | $ 24,502 | [12],[28] | $ 24,441 | [15],[29] | ||
Percentage of Net Assets | 190% | [12],[28] | 190% | [15],[29] | ||
Investment, Identifier [Axis]: Adenza Group, Inc., First lien senior secured delayed draw term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | [12],[18],[19],[30],[31] | 5.75% | ||||
Par / Units | [12],[18],[19],[30],[31] | $ 0 | ||||
Amortized Cost | [12],[18],[19],[30],[31] | (8) | ||||
Fair Value | [12],[18],[19],[30],[31] | $ 0 | ||||
Percentage of Net Assets | [12],[18],[19],[30],[31] | 0% | ||||
Investment, Identifier [Axis]: Adenza Group, Inc., First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | [12],[13] | 5.75% | ||||
Par / Units | [12],[13] | $ 42,910 | ||||
Amortized Cost | [12],[13] | 42,537 | ||||
Fair Value | [12],[13] | $ 42,481 | ||||
Percentage of Net Assets | [12],[13] | 330% | ||||
Investment, Identifier [Axis]: Adenza Group, Inc., First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | [12],[18],[19],[31] | 5.75% | ||||
Par / Units | [12],[18],[19],[31] | $ 0 | ||||
Amortized Cost | [12],[18],[19],[31] | (23) | ||||
Fair Value | [12],[18],[19],[31] | $ (35) | ||||
Percentage of Net Assets | [12],[18],[19],[31] | 0% | ||||
Investment, Identifier [Axis]: Alera Group, Inc., First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6% | [12],[32] | 6% | [15],[33] | ||
Par / Units | $ 7,351 | [12],[32] | $ 7,370 | [15],[33] | ||
Amortized Cost | 7,216 | [12],[32] | 7,229 | [15],[33] | ||
Fair Value | $ 7,333 | [12],[32] | $ 7,315 | [15],[33] | ||
Percentage of Net Assets | 60% | [12],[32] | 60% | [15],[33] | ||
Investment, Identifier [Axis]: AmSpec Group, Inc. (fka AmSpec Services Inc.), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.75% | [12],[26] | 5.75% | [15],[16] | ||
Par / Units | $ 18,526 | [12],[26] | $ 18,575 | [15],[16] | ||
Amortized Cost | 18,441 | [12],[26] | 18,473 | [15],[16] | ||
Fair Value | $ 18,480 | [12],[26] | $ 18,435 | [15],[16] | ||
Percentage of Net Assets | 140% | [12],[26] | 140% | [15],[16] | ||
Investment, Identifier [Axis]: AmSpec Group, Inc. (fka AmSpec Services Inc.), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 4.75% | [12],[18],[19],[26] | 3.75% | [15],[20],[21],[34] | ||
Par / Units | $ 308 | [12],[18],[19],[26] | $ 523 | [15],[20],[21],[34] | ||
Amortized Cost | 299 | [12],[18],[19],[26] | 512 | [15],[20],[21],[34] | ||
Fair Value | $ 302 | [12],[18],[19],[26] | $ 505 | [15],[20],[21],[34] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[26] | 0% | [15],[20],[21],[34] | ||
Investment, Identifier [Axis]: Amergin Asset Management, LLC, Class A Units | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 0 | [12],[14],[18],[19],[22],[23] | $ 0 | [15],[17],[20],[21],[24],[25] | ||
Fair Value | $ 0 | [12],[14],[18],[19],[22],[23] | $ 0 | [15],[17],[20],[21],[24],[25] | ||
Percentage of Net Assets | 0% | [12],[14],[18],[19],[22],[23] | 0% | [15],[17],[20],[21],[24],[25] | ||
Investment Owned, Balance, Shares | 50,000,000 | [12],[14],[18],[19],[22],[23] | 50,000,000 | [15],[17],[20],[21],[24],[25] | ||
Investment, Identifier [Axis]: Anaplan, Inc., First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.50% | [12],[32] | 6.50% | [15],[33] | ||
Par / Units | $ 13,508 | [12],[32] | $ 13,508 | [15],[33] | ||
Amortized Cost | 13,384 | [12],[32] | 13,381 | [15],[33] | ||
Fair Value | $ 13,508 | [12],[32] | $ 13,474 | [15],[33] | ||
Percentage of Net Assets | 100% | [12],[32] | 100% | [15],[33] | ||
Investment, Identifier [Axis]: Anaplan, Inc., First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.50% | [12],[18],[19],[31] | 6.50% | [15],[20],[21],[35] | ||
Par / Units | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | (8) | [12],[18],[19],[31] | (9) | [15],[20],[21],[35] | ||
Fair Value | $ 0 | [12],[18],[19],[31] | $ (2) | [15],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[31] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: Apex Group Treasury, LLC, Second lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.75% | [12],[14],[18],[28] | 6.75% | [15],[16],[17],[20] | ||
Par / Units | $ 11,618 | [12],[14],[18],[28] | $ 11,618 | [15],[16],[17],[20] | ||
Amortized Cost | 11,452 | [12],[14],[18],[28] | 11,448 | [15],[16],[17],[20] | ||
Fair Value | $ 11,269 | [12],[14],[18],[28] | $ 11,037 | [15],[16],[17],[20] | ||
Percentage of Net Assets | 90% | [12],[14],[18],[28] | 90% | [15],[16],[17],[20] | ||
Investment, Identifier [Axis]: Apex Service Partners, LLC, First lien senior secured delayed draw term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | [15],[20],[36] | 5.50% | ||||
Par / Units | [15],[20],[36] | $ 997 | ||||
Amortized Cost | [15],[20],[36] | 985 | ||||
Fair Value | [15],[20],[36] | $ 989 | ||||
Percentage of Net Assets | [15],[20],[36] | 10% | ||||
Investment, Identifier [Axis]: Apex Service Partners, LLC, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | [12],[18],[37] | 5.50% | ||||
Par / Units | [12],[18],[37] | $ 992 | ||||
Amortized Cost | [12],[18],[37] | 981 | ||||
Fair Value | [12],[18],[37] | $ 989 | ||||
Percentage of Net Assets | [12],[18],[37] | 10% | ||||
Investment, Identifier [Axis]: Apex Service Partners, LLC, First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.25% | [12],[18],[19],[28] | 5.25% | [15],[20],[21],[36] | ||
Par / Units | $ 25 | [12],[18],[19],[28] | $ 31 | [15],[20],[21],[36] | ||
Amortized Cost | 24 | [12],[18],[19],[28] | 31 | [15],[20],[21],[36] | ||
Fair Value | $ 25 | [12],[18],[19],[28] | $ 31 | [15],[20],[21],[36] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[28] | 0% | [15],[20],[21],[36] | ||
Investment, Identifier [Axis]: Apptio, Inc., First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5% | [12],[18],[28] | 6% | [15],[16],[20] | ||
Par / Units | $ 7,364 | [12],[18],[28] | $ 7,364 | [15],[16],[20] | ||
Amortized Cost | 7,311 | [12],[18],[28] | 7,305 | [15],[16],[20] | ||
Fair Value | $ 7,364 | [12],[18],[28] | $ 7,364 | [15],[16],[20] | ||
Percentage of Net Assets | 60% | [12],[18],[28] | 60% | [15],[16],[20] | ||
Investment, Identifier [Axis]: Apptio, Inc., First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6% | [12],[18],[19],[28] | 6% | [15],[16],[20],[21] | ||
Par / Units | $ 441 | [12],[18],[19],[28] | $ 294 | [15],[16],[20],[21] | ||
Amortized Cost | 438 | [12],[18],[19],[28] | 291 | [15],[16],[20],[21] | ||
Fair Value | $ 441 | [12],[18],[19],[28] | $ 294 | [15],[16],[20],[21] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[28] | 0% | [15],[16],[20],[21] | ||
Investment, Identifier [Axis]: Aptive Environmental, LLC, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 1,200% | [12],[18],[38] | 12% | [15],[20],[39] | ||
Interest, PIK | 600% | [12],[18],[38] | 6% | [15],[20],[39] | ||
Par / Units | $ 3,103 | [12],[18],[38] | $ 3,057 | [15],[20],[39] | ||
Amortized Cost | 2,644 | [12],[18],[38] | 2,564 | [15],[20],[39] | ||
Fair Value | $ 2,871 | [12],[18],[38] | $ 2,751 | [15],[20],[39] | ||
Percentage of Net Assets | 20% | [12],[18],[38] | 20% | [15],[20],[39] | ||
Investment, Identifier [Axis]: Aramsco, Inc., First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.25% | [12],[13] | 5.25% | [15],[29] | ||
Par / Units | $ 10,169 | [12],[13] | $ 10,195 | [15],[29] | ||
Amortized Cost | 10,108 | [12],[13] | 10,124 | [15],[29] | ||
Fair Value | $ 10,143 | [12],[13] | $ 10,170 | [15],[29] | ||
Percentage of Net Assets | 80% | [12],[13] | 80% | [15],[29] | ||
Investment, Identifier [Axis]: Aramsco, Inc., First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 4.25% | [12],[18],[19],[40] | 5.25% | [15],[20],[21],[29] | ||
Par / Units | $ 626 | [12],[18],[19],[40] | $ 209 | [15],[20],[21],[29] | ||
Amortized Cost | 620 | [12],[18],[19],[40] | 201 | [15],[20],[21],[29] | ||
Fair Value | $ 623 | [12],[18],[19],[40] | $ 206 | [15],[20],[21],[29] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[40] | 0% | [15],[20],[21],[29] | ||
Investment, Identifier [Axis]: Ardonagh Midco 2 PLC, Unsecured notes | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 11.50% | [12],[14],[18],[38] | 11.50% | [15],[17],[20],[39],[41] | ||
Par / Units | $ 640 | [12],[14],[18],[38] | $ 602 | [15],[17],[20],[39],[41] | ||
Amortized Cost | 637 | [12],[14],[18],[38] | 599 | [15],[17],[20],[39],[41] | ||
Fair Value | $ 584 | [12],[14],[18],[38] | $ 569 | [15],[17],[20],[39],[41] | ||
Percentage of Net Assets | 0% | [12],[14],[18],[38] | 0% | [15],[17],[20],[39],[41] | ||
Investment, Identifier [Axis]: Ardonagh Midco 3 PLC, First lien senior secured EUR term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 7.25% | [12],[14],[18],[42] | 7% | [15],[17],[20],[43] | ||
Par / Units | $ 534 | [12],[14],[18],[42] | $ 524 | [15],[17],[20],[43] | ||
Amortized Cost | 541 | [12],[14],[18],[42] | 541 | [15],[17],[20],[43] | ||
Fair Value | $ 534 | [12],[14],[18],[42] | $ 523 | [15],[17],[20],[43] | ||
Percentage of Net Assets | 0% | [12],[14],[18],[42] | 0% | [15],[17],[20],[43] | ||
Investment, Identifier [Axis]: Ardonagh Midco 3 PLC, First lien senior secured GBP delayed draw term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6% | [12],[14],[18] | 5.75% | [15],[17],[20],[44] | ||
Par / Units | $ 0 | [12],[14],[18] | $ 527 | [15],[17],[20],[44] | ||
Amortized Cost | 0 | [12],[14],[18] | 593 | [15],[17],[20],[44] | ||
Fair Value | $ 0 | [12],[14],[18] | $ 523 | [15],[17],[20],[44] | ||
Percentage of Net Assets | 0% | [12],[14],[18] | 0% | [15],[17],[20],[44] | ||
Investment, Identifier [Axis]: Ardonagh Midco 3 PLC, First lien senior secured GBP term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 7.25% | [12],[14],[18],[45] | 7% | [15],[17],[20],[46] | ||
Par / Units | $ 6,302 | [12],[14],[18],[45] | $ 5,604 | [15],[17],[20],[46] | ||
Amortized Cost | 6,362 | [12],[14],[18],[45] | 5,763 | [15],[17],[20],[46] | ||
Fair Value | $ 6,300 | [12],[14],[18],[45] | $ 5,604 | [15],[17],[20],[46] | ||
Percentage of Net Assets | 50% | [12],[14],[18],[45] | 40% | [15],[17],[20],[46] | ||
Investment, Identifier [Axis]: Ardonagh Midco 3 PLC, First lien senior secured USD term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6% | [12],[14],[18],[47] | 5.75% | [15],[17],[20],[27] | ||
Par / Units | $ 1,440 | [12],[14],[18],[47] | $ 1,440 | [15],[17],[20],[27] | ||
Amortized Cost | 1,420 | [12],[14],[18],[47] | 1,418 | [15],[17],[20],[27] | ||
Fair Value | $ 1,433 | [12],[14],[18],[47] | $ 1,429 | [15],[17],[20],[27] | ||
Percentage of Net Assets | 10% | [12],[14],[18],[47] | 10% | [15],[17],[20],[27] | ||
Investment, Identifier [Axis]: Aruba Investments Holdings LLC (dba Angus Chemical Company), Second lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 7.75% | [12],[13] | 7.75% | [15],[29] | ||
Par / Units | $ 22,500 | [12],[13] | $ 22,500 | [15],[29] | ||
Amortized Cost | 22,241 | [12],[13] | 22,232 | [15],[29] | ||
Fair Value | $ 22,163 | [12],[13] | $ 22,162 | [15],[29] | ||
Percentage of Net Assets | 170% | [12],[13] | 160% | [15],[29] | ||
Investment, Identifier [Axis]: Ascend Buyer, LLC (dba PPC Flexible Packaging), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.40% | [12],[18],[37] | 6.25% | [15],[20],[33] | ||
Par / Units | $ 763 | [12],[18],[37] | $ 765 | [15],[20],[33] | ||
Amortized Cost | 756 | [12],[18],[37] | 758 | [15],[20],[33] | ||
Fair Value | $ 763 | [12],[18],[37] | $ 759 | [15],[20],[33] | ||
Percentage of Net Assets | 10% | [12],[18],[37] | 10% | [15],[20],[33] | ||
Investment, Identifier [Axis]: Ascend Buyer, LLC (dba PPC Flexible Packaging), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.40% | [12],[18],[19],[31] | 6.25% | [15],[20],[21],[35] | ||
Par / Units | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | (1) | [12],[18],[19],[31] | (1) | [15],[20],[21],[35] | ||
Fair Value | $ 0 | [12],[18],[19],[31] | $ (1) | [15],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[31] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: Associations Finance, Inc., Preferred Stock | ||||||
Schedule of Investments [Line Items] | ||||||
Interest, PIK | 1,200% | [12],[18],[23],[38] | 12% | [15],[20],[25],[39] | ||
Amortized Cost | $ 10,626 | [12],[18],[23],[38] | $ 10,302 | [15],[20],[25],[39] | ||
Fair Value | $ 10,776 | [12],[18],[23],[38] | $ 10,356 | [15],[20],[25],[39] | ||
Percentage of Net Assets | 80% | [12],[18],[23],[38] | 80% | [15],[20],[25],[39] | ||
Investment Owned, Balance, Shares | 10,200,000 | [12],[18],[23],[38] | 10,200,000 | [15],[20],[25],[39] | ||
Investment, Identifier [Axis]: Associations, Inc., First lien senior secured delayed draw term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 650% | [12],[18],[19],[37] | 6.50% | [15],[20],[21],[48],[49] | ||
Interest, PIK | 250% | [12],[18],[19],[37] | 2.50% | [15],[20],[21],[48],[49] | ||
Par / Units | $ 86 | [12],[18],[19],[30],[37] | $ 24 | [15],[20],[21],[48],[49] | ||
Amortized Cost | 84 | [12],[18],[19],[30],[37] | 21 | [15],[20],[21],[48],[49] | ||
Fair Value | $ 86 | [12],[18],[19],[30],[37] | $ 24 | [15],[20],[21],[48],[49] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[30],[37] | 0% | [15],[20],[21],[48],[49] | ||
Investment, Identifier [Axis]: Associations, Inc., First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 650% | [12],[37] | 6.50% | [15],[49] | ||
Interest, PIK | 250% | [12],[37] | 2.50% | [15],[49] | ||
Par / Units | $ 54,319 | [12],[37] | $ 77,823 | [15],[49] | ||
Amortized Cost | 53,940 | [12],[37] | 77,238 | [15],[49] | ||
Fair Value | $ 54,319 | [12],[37] | $ 77,628 | [15],[49] | ||
Percentage of Net Assets | 420% | [12],[37] | 600% | [15],[49] | ||
Investment, Identifier [Axis]: Associations, Inc., First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.50% | [12],[18],[19],[31] | 6.50% | [15],[20],[21],[35] | ||
Par / Units | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | (44) | [12],[18],[19],[31] | (46) | [15],[20],[21],[35] | ||
Fair Value | $ 0 | [12],[18],[19],[31] | $ (15) | [15],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[31] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: Aviation Solutions Midco, LLC (dba STS Aviation), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 7.25% | [12],[28] | 7.25% | [15],[16] | ||
Par / Units | $ 37,445 | [12],[28] | $ 37,531 | [15],[16] | ||
Amortized Cost | 37,192 | [12],[28] | 37,244 | [15],[16] | ||
Fair Value | $ 36,509 | [12],[28] | $ 36,218 | [15],[16] | ||
Percentage of Net Assets | 280% | [12],[28] | 280% | [15],[16] | ||
Investment, Identifier [Axis]: AxiomSL Group, Inc., First lien senior secured delayed draw term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | [15],[20],[21],[35],[48] | 5.75% | ||||
Par / Units | [15],[20],[21],[35],[48] | $ 0 | ||||
Amortized Cost | [15],[20],[21],[35],[48] | (9) | ||||
Fair Value | [15],[20],[21],[35],[48] | $ (11) | ||||
Percentage of Net Assets | [15],[20],[21],[35],[48] | 0% | ||||
Investment, Identifier [Axis]: AxiomSL Group, Inc., First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | [15],[29] | 5.75% | ||||
Par / Units | [15],[29] | $ 43,020 | ||||
Amortized Cost | [15],[29] | 42,630 | ||||
Fair Value | [15],[29] | $ 42,374 | ||||
Percentage of Net Assets | [15],[29] | 330% | ||||
Investment, Identifier [Axis]: AxiomSL Group, Inc., First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | [15],[20],[21],[35] | 5.75% | ||||
Par / Units | [15],[20],[21],[35] | $ 0 | ||||
Amortized Cost | [15],[20],[21],[35] | (26) | ||||
Fair Value | [15],[20],[21],[35] | $ (52) | ||||
Percentage of Net Assets | [15],[20],[21],[35] | 0% | ||||
Investment, Identifier [Axis]: BCPE Nucleon (DE) SPV, LP, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 7% | [12],[14],[18],[26] | 7% | [15],[17],[20],[27] | ||
Par / Units | $ 35,556 | [12],[14],[18],[26] | $ 35,556 | [15],[17],[20],[27] | ||
Amortized Cost | 35,203 | [12],[14],[18],[26] | 35,182 | [15],[17],[20],[27] | ||
Fair Value | $ 35,467 | [12],[14],[18],[26] | $ 35,467 | [15],[17],[20],[27] | ||
Percentage of Net Assets | 270% | [12],[14],[18],[26] | 270% | [15],[17],[20],[27] | ||
Investment, Identifier [Axis]: BCPE Osprey Buyer, Inc. (dba PartsSource), First lien senior secured delayed draw term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.75% | [12],[18],[19],[30],[31] | 5.75% | [15],[20],[21],[35],[48] | ||
Par / Units | $ 0 | [12],[18],[19],[30],[31] | $ 0 | [15],[20],[21],[35],[48] | ||
Amortized Cost | (2) | [12],[18],[19],[30],[31] | (2) | [15],[20],[21],[35],[48] | ||
Fair Value | $ (3) | [12],[18],[19],[30],[31] | $ (4) | [15],[20],[21],[35],[48] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[30],[31] | 0% | [15],[20],[21],[35],[48] | ||
Investment, Identifier [Axis]: BCPE Osprey Buyer, Inc. (dba PartsSource), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.75% | [12],[18],[28] | 5.75% | [15],[16],[20] | ||
Par / Units | $ 596 | [12],[18],[28] | $ 597 | [15],[16],[20] | ||
Amortized Cost | 588 | [12],[18],[28] | 589 | [15],[16],[20] | ||
Fair Value | $ 584 | [12],[18],[28] | $ 584 | [15],[16],[20] | ||
Percentage of Net Assets | 0% | [12],[18],[28] | 0% | [15],[16],[20] | ||
Investment, Identifier [Axis]: BCPE Osprey Buyer, Inc. (dba PartsSource), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.75% | [12],[13],[18],[19] | 5.75% | [15],[20],[21],[35] | ||
Par / Units | $ 11 | [12],[13],[18],[19] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | 11 | [12],[13],[18],[19] | (1) | [15],[20],[21],[35] | ||
Fair Value | $ 10 | [12],[13],[18],[19] | $ (1) | [15],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[13],[18],[19] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: BCPE Watson (DE) ORML, LP, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.50% | [12],[14],[18],[47] | 6.50% | [15],[17],[20],[36] | ||
Par / Units | $ 1,000 | [12],[14],[18],[47] | $ 1,000 | [15],[17],[20],[36] | ||
Amortized Cost | 991 | [12],[14],[18],[47] | 991 | [15],[17],[20],[36] | ||
Fair Value | $ 993 | [12],[14],[18],[47] | $ 990 | [15],[17],[20],[36] | ||
Percentage of Net Assets | 10% | [12],[14],[18],[47] | 10% | [15],[17],[20],[36] | ||
Investment, Identifier [Axis]: BCTO BSI Buyer, Inc. (dba Buildertrend), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest, PIK | 800% | [12],[18],[37] | 8% | [15],[20],[49] | ||
Par / Units | $ 10,262 | [12],[18],[37] | $ 10,058 | [15],[20],[49] | ||
Amortized Cost | 10,186 | [12],[18],[37] | 9,978 | [15],[20],[49] | ||
Fair Value | $ 10,262 | [12],[18],[37] | $ 10,058 | [15],[20],[49] | ||
Percentage of Net Assets | 80% | [12],[18],[37] | 80% | [15],[20],[49] | ||
Investment, Identifier [Axis]: BCTO BSI Buyer, Inc. (dba Buildertrend), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 7% | [12],[18],[19],[31] | 8% | [15],[20],[21],[35] | ||
Par / Units | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | (15) | [12],[18],[19],[31] | (16) | [15],[20],[21],[35] | ||
Fair Value | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[31] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: BCTO WIW Holdings, Inc. (dba When I Work), Class A Common Stock | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 300 | [12],[18],[22],[23] | $ 300 | [15],[20],[24],[25] | ||
Fair Value | $ 270 | [12],[18],[22],[23] | $ 270 | [15],[20],[24],[25] | ||
Percentage of Net Assets | 0% | [12],[18],[22],[23] | 0% | [15],[20],[24],[25] | ||
Investment Owned, Balance, Shares | 3,000 | [12],[18],[22],[23] | 3,000 | [15],[20],[24],[25] | ||
Investment, Identifier [Axis]: BP Veraison Buyer, LLC (dba Sun World), First lien senior secured delayed draw term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.50% | [12],[18],[19],[30],[31] | 5.50% | [15],[20],[21],[35],[48] | ||
Par / Units | $ 0 | [12],[18],[19],[30],[31] | $ 0 | [15],[20],[21],[35],[48] | ||
Amortized Cost | (5) | [12],[18],[19],[30],[31] | (6) | [15],[20],[21],[35],[48] | ||
Fair Value | $ 0 | [12],[18],[19],[30],[31] | $ 0 | [15],[20],[21],[35],[48] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[30],[31] | 0% | [15],[20],[21],[35],[48] | ||
Investment, Identifier [Axis]: BP Veraison Buyer, LLC (dba Sun World), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.50% | [12],[37] | 5.50% | [15],[16] | ||
Par / Units | $ 14,339 | [12],[37] | $ 14,376 | [15],[16] | ||
Amortized Cost | 14,210 | [12],[37] | 14,240 | [15],[16] | ||
Fair Value | $ 14,267 | [12],[37] | $ 14,268 | [15],[16] | ||
Percentage of Net Assets | 110% | [12],[37] | 110% | [15],[16] | ||
Investment, Identifier [Axis]: BP Veraison Buyer, LLC (dba Sun World), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.50% | [12],[18],[19],[31] | 5.50% | [15],[20],[21],[35] | ||
Par / Units | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | (16) | [12],[18],[19],[31] | (17) | [15],[20],[21],[35] | ||
Fair Value | $ (9) | [12],[18],[19],[31] | $ (14) | [15],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[31] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: Balrog Acquisition, Inc. (dba Bakemark), Second lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 7% | [12],[18],[28] | 7% | [15],[16],[20] | ||
Par / Units | $ 5,000 | [12],[18],[28] | $ 5,000 | [15],[16],[20] | ||
Amortized Cost | 4,964 | [12],[18],[28] | 4,963 | [15],[16],[20] | ||
Fair Value | $ 4,950 | [12],[18],[28] | $ 4,950 | [15],[16],[20] | ||
Percentage of Net Assets | 40% | [12],[18],[28] | 40% | [15],[16],[20] | ||
Investment, Identifier [Axis]: Bayshore Intermediate #2, L.P. (dba Boomi), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest, PIK | 775% | [12],[13],[18] | 7.75% | [15],[20],[29] | ||
Par / Units | $ 17,170 | [12],[13],[18] | $ 16,640 | [15],[20],[29] | ||
Amortized Cost | 16,890 | [12],[13],[18] | 16,352 | [15],[20],[29] | ||
Fair Value | $ 16,911 | [12],[13],[18] | $ 16,307 | [15],[20],[29] | ||
Percentage of Net Assets | 110% | [12],[13],[18] | 120% | [15],[20],[29] | ||
Investment, Identifier [Axis]: Bayshore Intermediate #2, L.P. (dba Boomi), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.75% | [12],[13],[18],[19] | 6.75% | [15],[20],[21],[29] | ||
Par / Units | $ 248 | [12],[13],[18],[19] | $ 413 | [15],[20],[21],[29] | ||
Amortized Cost | 227 | [12],[13],[18],[19] | 391 | [15],[20],[21],[29] | ||
Fair Value | $ 229 | [12],[13],[18],[19] | $ 389 | [15],[20],[21],[29] | ||
Percentage of Net Assets | 0% | [12],[13],[18],[19] | 0% | [15],[20],[21],[29] | ||
Investment, Identifier [Axis]: Blackhawk Network Holdings, Inc., Second lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 7% | [12],[28] | 7% | [15],[16] | ||
Par / Units | $ 18,777 | [12],[28] | $ 18,777 | [15],[16] | ||
Amortized Cost | 18,702 | [12],[28] | 18,697 | [15],[16] | ||
Fair Value | $ 18,730 | [12],[28] | $ 18,683 | [15],[16] | ||
Percentage of Net Assets | 150% | [12],[28] | 140% | [15],[16] | ||
Investment, Identifier [Axis]: Bracket Intermediate Holding Corp., First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 4.25% | [12],[18],[28],[50] | 4.25% | [15],[16],[20] | ||
Par / Units | $ 73 | [12],[18],[28],[50] | $ 73 | [15],[16],[20] | ||
Amortized Cost | 70 | [12],[18],[28],[50] | 70 | [15],[16],[20] | ||
Fair Value | $ 71 | [12],[18],[28],[50] | $ 70 | [15],[16],[20] | ||
Percentage of Net Assets | 0% | [12],[18],[28],[50] | 0% | [15],[16],[20] | ||
Investment, Identifier [Axis]: Bracket Intermediate Holding Corp., Second lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 8.13% | [12],[37] | 8.13% | [15],[16] | ||
Par / Units | $ 3,750 | [12],[37] | $ 3,750 | [15],[16] | ||
Amortized Cost | 3,711 | [12],[37] | 3,708 | [15],[16] | ||
Fair Value | $ 3,694 | [12],[37] | $ 3,600 | [15],[16] | ||
Percentage of Net Assets | 30% | [12],[37] | 30% | [15],[16] | ||
Investment, Identifier [Axis]: BradyIFS Holdings, LLC (fka Individual Foodservice Holdings, LLC), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.25% | [12],[37] | 6.25% | [15],[49] | ||
Par / Units | $ 30,257 | [12],[37] | $ 30,335 | [15],[49] | ||
Amortized Cost | 29,962 | [12],[37] | 30,014 | [15],[49] | ||
Fair Value | $ 30,257 | [12],[37] | $ 30,259 | [15],[49] | ||
Percentage of Net Assets | 230% | [12],[37] | 230% | [15],[49] | ||
Investment, Identifier [Axis]: BradyIFS Holdings, LLC (fka Individual Foodservice Holdings, LLC), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.25% | [12],[18],[19],[31] | 6.25% | [15],[20],[21],[35] | ||
Par / Units | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | (32) | [12],[18],[19],[31] | (37) | [15],[20],[21],[35] | ||
Fair Value | $ 0 | [12],[18],[19],[31] | $ (11) | [15],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[31] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: Brightway Holdings, LLC, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.50% | [12],[18],[32] | 6.50% | [15],[20],[29] | ||
Par / Units | $ 4,429 | [12],[18],[32] | $ 4,440 | [15],[20],[29] | ||
Amortized Cost | 4,383 | [12],[18],[32] | 4,393 | [15],[20],[29] | ||
Fair Value | $ 4,340 | [12],[18],[32] | $ 4,351 | [15],[20],[29] | ||
Percentage of Net Assets | 30% | [12],[18],[32] | 30% | [15],[20],[29] | ||
Investment, Identifier [Axis]: Brightway Holdings, LLC, First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.50% | [12],[18],[19],[32] | 6.50% | [15],[20],[21],[35] | ||
Par / Units | $ 158 | [12],[18],[19],[32] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | 153 | [12],[18],[19],[32] | (5) | [15],[20],[21],[35] | ||
Fair Value | $ 147 | [12],[18],[19],[32] | $ (11) | [15],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[32] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: Brooklyn Lender Co-Invest 2, L.P. (dba Boomi), Common Units | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 1,345 | [12],[18],[22],[23] | $ 1,345 | [15],[20],[24],[25] | ||
Fair Value | $ 1,323 | [12],[18],[22],[23] | $ 1,323 | [15],[20],[24],[25] | ||
Percentage of Net Assets | 10% | [12],[18],[22],[23] | 10% | [15],[20],[24],[25] | ||
Investment Owned, Balance, Shares | 1,345,119 | [12],[18],[22],[23] | 1,345,119 | [15],[20],[24],[25] | ||
Investment, Identifier [Axis]: CD&R Value Building Partners I, L.P. (dba Belron), LP Interest | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 1,002 | [12],[14],[18],[22],[23] | $ 1,002 | [15],[17],[20],[24],[25] | ||
Fair Value | $ 1,029 | [12],[14],[18],[22],[23] | $ 1,029 | [15],[17],[20],[24],[25] | ||
Percentage of Net Assets | 10% | [12],[14],[18],[22],[23] | 10% | [15],[17],[20],[24],[25] | ||
Investment Owned, Balance, Shares | 1,002 | [12],[14],[18],[22],[23] | 1,002 | [15],[17],[20],[24],[25] | ||
Investment, Identifier [Axis]: CIBT Global, Inc., First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 525% | [12],[18],[28],[51] | 5.25% | [15],[16],[20],[52] | ||
Interest, PIK | 425% | [12],[18],[28],[51] | 4.25% | [15],[16],[20],[52] | ||
Par / Units | $ 159 | [12],[18],[28],[51] | $ 159 | [15],[16],[20],[52] | ||
Amortized Cost | 109 | [12],[18],[28],[51] | 109 | [15],[16],[20],[52] | ||
Fair Value | $ 92 | [12],[18],[28],[51] | $ 83 | [15],[16],[20],[52] | ||
Percentage of Net Assets | 0% | [12],[18],[28],[51] | 0% | [15],[16],[20],[52] | ||
Investment, Identifier [Axis]: CIBT Global, Inc., Second lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest, PIK | 775% | [12],[18],[28],[51] | 7.75% | [15],[16],[20],[52] | ||
Par / Units | $ 11,237 | [12],[18],[28],[51] | $ 11,237 | [15],[16],[20],[52] | ||
Amortized Cost | 4,717 | [12],[18],[28],[51] | 4,717 | [15],[16],[20],[52] | ||
Fair Value | $ 1,068 | [12],[18],[28],[51] | $ 1,067 | [15],[16],[20],[52] | ||
Percentage of Net Assets | 10% | [12],[18],[28],[51] | 10% | [15],[16],[20],[52] | ||
Investment, Identifier [Axis]: CP PIK DEBT ISSUER, LLC (dba CivicPlus, LLC), Unsecured notes | ||||||
Schedule of Investments [Line Items] | ||||||
Interest, PIK | 1,175% | [12],[18],[47] | 11.75% | [15],[20],[36] | ||
Par / Units | $ 454 | [12],[18],[47] | $ 454 | [15],[20],[36] | ||
Amortized Cost | 442 | [12],[18],[47] | 442 | [15],[20],[36] | ||
Fair Value | $ 452 | [12],[18],[47] | $ 448 | [15],[20],[36] | ||
Percentage of Net Assets | 0% | [12],[18],[47] | 0% | [15],[20],[36] | ||
Investment, Identifier [Axis]: CSC MKG Topco LLC (dba Medical Knowledge Group), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.75% | [12],[18],[32] | 5.75% | [15],[20],[29] | ||
Par / Units | $ 848 | [12],[18],[32] | $ 850 | [15],[20],[29] | ||
Amortized Cost | 833 | [12],[18],[32] | 834 | [15],[20],[29] | ||
Fair Value | $ 835 | [12],[18],[32] | $ 831 | [15],[20],[29] | ||
Percentage of Net Assets | 10% | [12],[18],[32] | 10% | [15],[20],[29] | ||
Investment, Identifier [Axis]: Catalis Intermediate, Inc. (fka GovBrands Intermediate, Inc.), First lien senior secured delayed draw term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | [12],[18],[19],[28],[30] | 5.50% | ||||
Par / Units | [12],[18],[19],[28],[30] | $ 552 | ||||
Amortized Cost | [12],[18],[19],[28],[30] | 539 | ||||
Fair Value | [12],[18],[19],[28],[30] | $ 509 | ||||
Percentage of Net Assets | [12],[18],[19],[28],[30] | 0% | ||||
Investment, Identifier [Axis]: Catalis Intermediate, Inc. (fka GovBrands Intermediate, Inc.), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | [12],[18],[28] | 5.50% | ||||
Par / Units | [12],[18],[28] | $ 2,453 | ||||
Amortized Cost | [12],[18],[28] | 2,406 | ||||
Fair Value | [12],[18],[28] | $ 2,312 | ||||
Percentage of Net Assets | [12],[18],[28] | 20% | ||||
Investment, Identifier [Axis]: Catalis Intermediate, Inc. (fka GovBrands Intermediate, Inc.), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | [12],[18],[19],[28] | 5.50% | ||||
Par / Units | [12],[18],[19],[28] | $ 166 | ||||
Amortized Cost | [12],[18],[19],[28] | 163 | ||||
Fair Value | [12],[18],[19],[28] | $ 156 | ||||
Percentage of Net Assets | [12],[18],[19],[28] | 0% | ||||
Investment, Identifier [Axis]: Centrify Corporation, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6% | [12],[18],[28] | 6% | [15],[16],[20] | ||
Par / Units | $ 13,038 | [12],[18],[28] | $ 13,072 | [15],[16],[20] | ||
Amortized Cost | 12,791 | [12],[18],[28] | 12,814 | [15],[16],[20] | ||
Fair Value | $ 12,941 | [12],[18],[28] | $ 12,908 | [15],[16],[20] | ||
Percentage of Net Assets | 100% | [12],[18],[28] | 100% | [15],[16],[20] | ||
Investment, Identifier [Axis]: Centrify Corporation, First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6% | [19],[28] | 6% | [15],[16],[20] | ||
Par / Units | $ 673 | [12],[18],[19],[28] | $ 1,345 | [15],[16],[20] | ||
Amortized Cost | 647 | [12],[18],[19],[28] | 1,318 | [15],[16],[20] | ||
Fair Value | $ 663 | [12],[18],[19],[28] | $ 1,329 | [15],[16],[20] | ||
Percentage of Net Assets | 10% | [12],[18],[19],[28] | 10% | [15],[16],[20] | ||
Investment, Identifier [Axis]: CivicPlus, LLC, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 675% | [12],[18],[28] | 6.75% | [15],[16],[20] | ||
Interest, PIK | 250% | [12],[18],[28] | 2.50% | [15],[16],[20] | ||
Par / Units | $ 2,490 | [12],[18],[28] | $ 2,475 | [15],[16],[20] | ||
Amortized Cost | 2,470 | [12],[18],[28] | 2,453 | [15],[16],[20] | ||
Fair Value | $ 2,490 | [12],[18],[28] | $ 2,469 | [15],[16],[20] | ||
Percentage of Net Assets | 20% | [12],[18],[28] | 20% | [15],[16],[20] | ||
Investment, Identifier [Axis]: CivicPlus, LLC, First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.25% | [12],[18],[19],[31] | 6.25% | [15],[20],[21],[35] | ||
Par / Units | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | (2) | [12],[18],[19],[31] | (2) | [15],[20],[21],[35] | ||
Fair Value | $ 0 | [12],[18],[19],[31] | $ (1) | [15],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[31] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: Conair Holdings LLC, Second lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | [12],[28] | 7.50% | ||||
Par / Units | [12],[28] | $ 45,000 | ||||
Amortized Cost | [12],[28] | 44,397 | ||||
Fair Value | [12],[28] | $ 41,400 | ||||
Percentage of Net Assets | [12],[28] | 320% | ||||
Investment, Identifier [Axis]: Conair Holdings, LLC, Second lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | [15],[16] | 7.50% | ||||
Par / Units | [15],[16] | $ 45,000 | ||||
Amortized Cost | [15],[16] | 44,381 | ||||
Fair Value | [15],[16] | $ 40,950 | ||||
Percentage of Net Assets | [15],[16] | 310% | ||||
Investment, Identifier [Axis]: Confluent Medical Technologies, Inc., Second lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.50% | [12],[18],[37] | 6.50% | [15],[20],[49] | ||
Par / Units | $ 1,000 | [12],[18],[37] | $ 1,000 | [15],[20],[49] | ||
Amortized Cost | 982 | [12],[18],[37] | 982 | [15],[20],[49] | ||
Fair Value | $ 967 | [12],[18],[37] | $ 947 | [15],[20],[49] | ||
Percentage of Net Assets | 10% | [12],[18],[37] | 10% | [15],[20],[49] | ||
Investment, Identifier [Axis]: Cornerstone OnDemand, Inc., Second lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.50% | [12],[13],[18] | 6.50% | [15],[20],[29] | ||
Par / Units | $ 16,667 | [12],[13],[18] | $ 16,667 | [15],[20],[29] | ||
Amortized Cost | 16,451 | [12],[13],[18] | 16,445 | [15],[20],[29] | ||
Fair Value | $ 16,000 | [12],[13],[18] | $ 16,000 | [15],[20],[29] | ||
Percentage of Net Assets | 120% | [12],[13],[18] | 120% | [15],[20],[29] | ||
Investment, Identifier [Axis]: Datix Bidco Limited (dba RLDatix), First lien senior secured GBP term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 4.50% | [12],[14],[18],[45] | 4.50% | [15],[17],[20],[46] | ||
Par / Units | $ 788 | [12],[14],[18],[45] | $ 767 | [15],[17],[20],[46] | ||
Amortized Cost | 866 | [12],[14],[18],[45] | 865 | [15],[17],[20],[46] | ||
Fair Value | $ 778 | [12],[14],[18],[45] | $ 753 | [15],[17],[20],[46] | ||
Percentage of Net Assets | 10% | [12],[14],[18],[45] | 10% | [15],[17],[20],[46] | ||
Investment, Identifier [Axis]: Datix Bidco Limited (dba RLDatix), Second lien senior secured GBP term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 7.75% | [12],[14],[18],[45] | 7.75% | [15],[17],[20],[46] | ||
Par / Units | $ 2,061 | [12],[14],[18],[45] | $ 2,005 | [15],[17],[20],[46] | ||
Amortized Cost | 2,261 | [12],[14],[18],[45] | 2,257 | [15],[17],[20],[46] | ||
Fair Value | $ 2,040 | [12],[14],[18],[45] | $ 1,975 | [15],[17],[20],[46] | ||
Percentage of Net Assets | 20% | [12],[14],[18],[45] | 20% | [15],[17],[20],[46] | ||
Investment, Identifier [Axis]: Delta TopCo, Inc. (dba Infoblox, Inc.), Second lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 7.25% | [12],[37] | 7.25% | [15],[49] | ||
Par / Units | $ 40,000 | [12],[37] | $ 40,000 | [15],[49] | ||
Amortized Cost | 39,848 | [12],[37] | 39,843 | [15],[49] | ||
Fair Value | $ 37,200 | [12],[37] | $ 37,200 | [15],[49] | ||
Percentage of Net Assets | 290% | [12],[37] | 290% | [15],[49] | ||
Investment, Identifier [Axis]: Denali BuyerCo, LLC (dba Summit Companies), First lien senior secured delayed draw term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | [15],[16],[20],[21],[48] | 5.75% | ||||
Par / Units | [15],[16],[20],[21],[48] | $ 343 | ||||
Amortized Cost | [15],[16],[20],[21],[48] | 339 | ||||
Fair Value | [15],[16],[20],[21],[48] | $ 340 | ||||
Percentage of Net Assets | [15],[16],[20],[21],[48] | 0% | ||||
Investment, Identifier [Axis]: Denali BuyerCo, LLC (dba Summit Companies), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.75% | [12],[28] | 5.75% | [15],[16] | ||
Par / Units | $ 5,921 | [12],[28] | $ 5,521 | [15],[16] | ||
Amortized Cost | 5,824 | [12],[28] | 5,425 | [15],[16] | ||
Fair Value | $ 5,891 | [12],[28] | $ 5,466 | [15],[16] | ||
Percentage of Net Assets | 50% | [12],[28] | 40% | [15],[16] | ||
Investment, Identifier [Axis]: Denali BuyerCo, LLC (dba Summit Companies), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.75% | [12],[18],[19],[31] | 5.75% | [15],[20],[21],[35] | ||
Par / Units | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | (1) | [12],[18],[19],[31] | (1) | [15],[20],[21],[35] | ||
Fair Value | $ (1) | [12],[18],[19],[31] | $ (1) | [15],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[31] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: Denali Holding, LP (dba Summit Companies), Class A Units | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 425 | [12],[18],[22],[23] | $ 425 | [15],[20],[24],[25] | ||
Fair Value | $ 539 | [12],[18],[22],[23] | $ 539 | [15],[20],[24],[25] | ||
Percentage of Net Assets | 0% | [12],[18],[22],[23] | 0% | [15],[20],[24],[25] | ||
Investment Owned, Balance, Shares | 41,874 | [12],[18],[22],[23] | 41,874 | [15],[20],[24],[25] | ||
Investment, Identifier [Axis]: Diagnostic Services Holdings, Inc. (dba Rayus Radiology), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.50% | [12],[13],[18] | 5.50% | [15],[20],[29] | ||
Par / Units | $ 997 | [12],[13],[18] | $ 998 | [15],[20],[29] | ||
Amortized Cost | 997 | [12],[13],[18] | 998 | [15],[20],[29] | ||
Fair Value | $ 987 | [12],[13],[18] | $ 988 | [15],[20],[29] | ||
Percentage of Net Assets | 10% | [12],[13],[18] | 10% | [15],[20],[29] | ||
Investment, Identifier [Axis]: Diamondback Acquisition, Inc. (dba Sphera), First lien senior secured delayed draw term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.50% | [12],[18],[19],[30],[31] | 5.50% | [15],[20],[21],[35],[48] | ||
Par / Units | $ 0 | [12],[18],[19],[30],[31] | $ 0 | [15],[20],[21],[35],[48] | ||
Amortized Cost | (1) | [12],[18],[19],[30],[31] | (1) | [15],[20],[21],[35],[48] | ||
Fair Value | $ 0 | [12],[18],[19],[30],[31] | $ 0 | [15],[20],[21],[35],[48] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[30],[31] | 0% | [15],[20],[21],[35],[48] | ||
Investment, Identifier [Axis]: Diamondback Acquisition, Inc. (dba Sphera), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.50% | [12],[13],[18] | 5.50% | [15],[20],[29] | ||
Par / Units | $ 631 | [12],[13],[18] | $ 632 | [15],[20],[29] | ||
Amortized Cost | 620 | [12],[13],[18] | 621 | [15],[20],[29] | ||
Fair Value | $ 624 | [12],[13],[18] | $ 626 | [15],[20],[29] | ||
Percentage of Net Assets | 0% | [12],[13],[18] | 0% | [15],[20],[29] | ||
Investment, Identifier [Axis]: Dodge Construction Network Holdings, L.P., Class A-2 Common Units | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 368 | [12],[18],[22],[23] | $ 368 | [15],[20],[24],[25] | ||
Fair Value | $ 367 | [12],[18],[22],[23] | $ 367 | [15],[20],[24],[25] | ||
Percentage of Net Assets | 0% | [12],[18],[22],[23] | 0% | [15],[20],[24],[25] | ||
Investment Owned, Balance, Shares | 431,889 | [12],[18],[22],[23] | 431,889 | [15],[20],[24],[25] | ||
Investment, Identifier [Axis]: Dodge Construction Network Holdings, L.P., Series A Preferred Units | ||||||
Schedule of Investments [Line Items] | ||||||
Interest, PIK | 825% | [12],[18],[23],[37] | 8.25% | [15],[20],[25],[49] | ||
Amortized Cost | $ 9 | [12],[18],[23] | $ 9 | [15],[20],[25],[49] | ||
Fair Value | $ 9 | [12],[18],[23] | $ 9 | [15],[20],[25],[49] | ||
Percentage of Net Assets | 0% | [12],[18],[23] | 0% | [15],[20],[25],[49] | ||
Investment Owned, Balance, Shares | 0 | [12],[18],[23] | 0 | [15],[20],[25],[49] | ||
Investment, Identifier [Axis]: Douglas Products and Packaging Company LLC, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 7% | [12],[18],[37] | 7% | [15],[33] | ||
Par / Units | $ 3,409 | [12],[18],[37] | $ 3,418 | [15],[33] | ||
Amortized Cost | 3,379 | [12],[18],[37] | 3,384 | [15],[33] | ||
Fair Value | $ 3,383 | [12],[18],[37] | $ 3,383 | [15],[33] | ||
Percentage of Net Assets | 20% | [12],[18],[37] | 20% | [15],[33] | ||
Investment, Identifier [Axis]: Douglas Products and Packaging Company LLC, First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 7% | [12],[18],[19],[31] | 7% | [15],[20],[21],[35] | ||
Par / Units | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | (4) | [12],[18],[19],[31] | (4) | [15],[20],[21],[35] | ||
Fair Value | $ (3) | [12],[18],[19],[31] | $ (4) | [15],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[31] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: EET Buyer, Inc. (dba e-Emphasys), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.25% | [12],[18],[26] | 5.25% | [15],[20],[27] | ||
Par / Units | $ 900 | [12],[18],[26] | $ 902 | [15],[20],[27] | ||
Amortized Cost | 893 | [12],[18],[26] | 895 | [15],[20],[27] | ||
Fair Value | $ 900 | [12],[18],[26] | $ 902 | [15],[20],[27] | ||
Percentage of Net Assets | 10% | [12],[18],[26] | 10% | [15],[20],[27] | ||
Investment, Identifier [Axis]: EET Buyer, Inc. (dba e-Emphasys), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.25% | [12],[18],[19],[31] | 5.25% | [15],[20],[21],[35] | ||
Par / Units | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | (1) | [12],[18],[19],[31] | (1) | [15],[20],[21],[35] | ||
Fair Value | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[31] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: Endries Acquisition, Inc., First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.25% | [12],[32] | 6.25% | [15],[49] | ||
Par / Units | $ 26,333 | [12],[32] | $ 26,401 | [15],[49] | ||
Amortized Cost | 26,128 | [12],[32] | 26,179 | [15],[49] | ||
Fair Value | $ 26,333 | [12],[32] | $ 26,401 | [15],[49] | ||
Percentage of Net Assets | 200% | [12],[32] | 200% | [15],[49] | ||
Investment, Identifier [Axis]: Entertainment Benefits Group, LLC, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 4.75% | [12],[18],[32] | 4.75% | [15],[20],[33] | ||
Par / Units | $ 860 | [12],[18],[32] | $ 862 | [15],[20],[33] | ||
Amortized Cost | 853 | [12],[18],[32] | 855 | [15],[20],[33] | ||
Fair Value | $ 860 | [12],[18],[32] | $ 862 | [15],[20],[33] | ||
Percentage of Net Assets | 10% | [12],[18],[32] | 10% | [15],[20],[33] | ||
Investment, Identifier [Axis]: Entertainment Benefits Group, LLC, First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 4.75% | [12],[18],[19],[32] | 4.75% | [15],[20],[21],[33] | ||
Par / Units | $ 44 | [12],[18],[19],[32] | $ 89 | [15],[20],[21],[33] | ||
Amortized Cost | 43 | [12],[18],[19],[32] | 88 | [15],[20],[21],[33] | ||
Fair Value | $ 44 | [12],[18],[19],[32] | $ 89 | [15],[20],[21],[33] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[32] | 0% | [15],[20],[21],[33] | ||
Investment, Identifier [Axis]: Evology, LLC, Class B Units | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 540 | [12],[18],[22],[23] | $ 540 | [15],[20],[24],[25] | ||
Fair Value | $ 854 | [12],[18],[22],[23] | $ 795 | [15],[20],[24],[25] | ||
Percentage of Net Assets | 10% | [12],[18],[22],[23] | 10% | [15],[20],[24],[25] | ||
Investment Owned, Balance, Shares | 113 | [12],[18],[22],[23] | 113 | [15],[20],[24],[25] | ||
Investment, Identifier [Axis]: Evolution BuyerCo, Inc. (dba SIAA), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.25% | [12],[37] | 6.25% | [15],[49] | ||
Par / Units | $ 29,431 | [12],[37] | $ 29,505 | [15],[49] | ||
Amortized Cost | 29,104 | [12],[37] | 29,166 | [15],[49] | ||
Fair Value | $ 29,136 | [12],[37] | $ 29,063 | [15],[49] | ||
Percentage of Net Assets | 230% | [12],[37] | 220% | [15],[49] | ||
Investment, Identifier [Axis]: Evolution BuyerCo, Inc. (dba SIAA), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.25% | [12],[18],[19],[31] | 6.25% | [15],[20],[21],[35] | ||
Par / Units | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | (22) | [12],[18],[19],[31] | (23) | [15],[20],[21],[35] | ||
Fair Value | $ (22) | [12],[18],[19],[31] | $ (33) | [15],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[31] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: Evolution Parent, LP (dba SIAA), LP Interest | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 892 | [12],[18],[22],[23] | $ 892 | [15],[20],[24],[25] | ||
Fair Value | $ 924 | [12],[18],[22],[23] | $ 892 | [15],[20],[24],[25] | ||
Percentage of Net Assets | 10% | [12],[18],[22],[23] | 10% | [15],[20],[24],[25] | ||
Investment Owned, Balance, Shares | 892 | [12],[18],[22],[23] | 892 | [15],[20],[24],[25] | ||
Investment, Identifier [Axis]: Ex Vivo Parent Inc. (dba OB Hospitalist), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | [15],[16],[20] | 9.50% | ||||
Interest, PIK | [12],[18],[37] | 950% | ||||
Par / Units | $ 11,589 | [12],[18],[37] | $ 11,184 | [15],[16],[20] | ||
Amortized Cost | 11,400 | [12],[18],[37] | 10,989 | [15],[16],[20] | ||
Fair Value | $ 11,328 | [12],[18],[37] | $ 10,933 | [15],[16],[20] | ||
Percentage of Net Assets | 90% | [12],[18],[37] | 80% | [15],[16],[20] | ||
Investment, Identifier [Axis]: Feradyne Outdoors, LLC, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.25% | [12],[18],[35] | 6.25% | [15],[20],[33] | ||
Par / Units | $ 742 | [12],[18],[35] | $ 745 | [15],[20],[33] | ||
Amortized Cost | 742 | [12],[18],[35] | 744 | [15],[20],[33] | ||
Fair Value | $ 701 | [12],[18],[35] | $ 734 | [15],[20],[33] | ||
Percentage of Net Assets | 10% | [12],[18],[35] | 10% | [15],[20],[33] | ||
Investment, Identifier [Axis]: Fifth Season Investments LLC, Class A Units | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 1,266 | [12],[18],[22],[23] | $ 1,196 | [15],[20],[24],[25] | ||
Fair Value | $ 1,266 | [12],[18],[22],[23] | $ 1,196 | [15],[20],[24],[25] | ||
Percentage of Net Assets | 10% | [12],[18],[22],[23] | 10% | [15],[20],[24],[25] | ||
Investment Owned, Balance, Shares | 0 | [12],[18],[22],[23] | 0 | [15],[20],[24],[25] | ||
Investment, Identifier [Axis]: Forescout Technologies, Inc., First lien senior secured delayed draw term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 8% | [12],[18],[19],[30],[31] | 8% | [15],[20],[21],[35],[48] | ||
Par / Units | $ 0 | [12],[18],[19],[30],[31] | $ 0 | [15],[20],[21],[35],[48] | ||
Amortized Cost | (28) | [12],[18],[19],[30],[31] | (30) | [15],[20],[21],[35],[48] | ||
Fair Value | $ 0 | [12],[18],[19],[30],[31] | $ 0 | [15],[20],[21],[35],[48] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[30],[31] | 0% | [15],[20],[21],[35],[48] | ||
Investment, Identifier [Axis]: Forescout Technologies, Inc., First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest, PIK | 928% | [12],[18],[28] | 9.28% | [15],[16],[20] | ||
Par / Units | $ 14,305 | [12],[18],[28] | $ 13,977 | [15],[16],[20] | ||
Amortized Cost | 14,186 | [12],[18],[28] | 13,851 | [15],[16],[20] | ||
Fair Value | $ 14,290 | [12],[18],[28] | $ 13,947 | [15],[16],[20] | ||
Percentage of Net Assets | 110% | [12],[18],[28] | 110% | [15],[16],[20] | ||
Investment, Identifier [Axis]: Forescout Technologies, Inc., First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 8.50% | [12],[18],[28] | 8.50% | [15],[20],[21],[35] | ||
Par / Units | $ 700 | [12],[18],[28] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | 694 | [12],[18],[28] | (6) | [15],[20],[21],[35] | ||
Fair Value | $ 700 | [12],[18],[28] | $ 0 | [15],[20],[21],[35] | ||
Percentage of Net Assets | 10% | [12],[18],[28] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: Fortis Solutions Group, LLC, First lien senior secured delayed draw term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | [15],[20],[21],[48] | 5.50% | ||||
Par / Units | [15],[20],[21],[48] | $ 0 | ||||
Amortized Cost | [15],[20],[21],[48] | 0 | ||||
Fair Value | [15],[20],[21],[48] | $ 0 | ||||
Percentage of Net Assets | [15],[20],[21],[48] | 0% | ||||
Investment, Identifier [Axis]: Fortis Solutions Group, LLC, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.50% | [12],[13],[18] | 5.50% | [15],[16],[20] | ||
Par / Units | $ 899 | [12],[13],[18] | $ 899 | [15],[16],[20] | ||
Amortized Cost | 884 | [12],[13],[18] | 884 | [15],[16],[20] | ||
Fair Value | $ 879 | [12],[13],[18] | $ 875 | [15],[16],[20] | ||
Percentage of Net Assets | 10% | [12],[13],[18] | 10% | [15],[16],[20] | ||
Investment, Identifier [Axis]: Fortis Solutions Group, LLC, First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.50% | [12],[13],[18],[19] | 5.50% | [15],[20],[21],[27] | ||
Par / Units | $ 12 | [12],[13],[18],[19] | $ 12 | [15],[20],[21],[27] | ||
Amortized Cost | 11 | [12],[13],[18],[19] | 11 | [15],[20],[21],[27] | ||
Fair Value | $ 10 | [12],[13],[18],[19] | $ 10 | [15],[20],[21],[27] | ||
Percentage of Net Assets | 0% | [12],[13],[18],[19] | 0% | [15],[20],[21],[27] | ||
Investment, Identifier [Axis]: Foundation Consumer Brands, LLC, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.50% | [12],[18],[28] | 5.50% | [15],[16],[20] | ||
Par / Units | $ 840 | [12],[18],[28] | $ 864 | [15],[16],[20] | ||
Amortized Cost | 840 | [12],[18],[28] | 864 | [15],[16],[20] | ||
Fair Value | $ 840 | [12],[18],[28] | $ 862 | [15],[16],[20] | ||
Percentage of Net Assets | 10% | [12],[18],[28] | 10% | [15],[16],[20] | ||
Investment, Identifier [Axis]: GI Ranger Intermediate, LLC (dba Rectangle Health), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6% | [12],[18],[37] | 6% | [15],[20],[49] | ||
Par / Units | $ 915 | [12],[18],[37] | $ 917 | [15],[20],[49] | ||
Amortized Cost | 899 | [12],[18],[37] | 901 | [15],[20],[49] | ||
Fair Value | $ 896 | [12],[18],[37] | $ 894 | [15],[20],[49] | ||
Percentage of Net Assets | 10% | [12],[18],[37] | 10% | [15],[20],[49] | ||
Investment, Identifier [Axis]: GI Ranger Intermediate, LLC (dba Rectangle Health), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6% | [12],[18],[19],[37] | 6% | [15],[20],[21],[49] | ||
Par / Units | $ 7 | [12],[18],[19],[37] | $ 7 | [15],[20],[21],[49] | ||
Amortized Cost | 6 | [12],[18],[19],[37] | 6 | [15],[20],[21],[49] | ||
Fair Value | $ 6 | [12],[18],[19],[37] | $ 6 | [15],[20],[21],[49] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[37] | 0% | [15],[20],[21],[49] | ||
Investment, Identifier [Axis]: Gainsight, Inc., First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest, PIK | 675% | [12],[18],[28] | 6.75% | [15],[16],[20] | ||
Par / Units | $ 5,669 | [12],[18],[28] | $ 5,512 | [15],[16],[20] | ||
Amortized Cost | 5,602 | [12],[18],[28] | 5,442 | [15],[16],[20] | ||
Fair Value | $ 5,613 | [12],[18],[28] | $ 5,429 | [15],[16],[20] | ||
Percentage of Net Assets | 40% | [12],[18],[28] | 40% | [15],[16],[20] | ||
Investment, Identifier [Axis]: Gainsight, Inc., First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.25% | [12],[18],[19],[31] | 6.25% | [15],[20],[21],[35] | ||
Par / Units | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | (11) | [12],[18],[19],[31] | (12) | [15],[20],[21],[35] | ||
Fair Value | $ (9) | [12],[18],[19],[31] | $ (13) | [15],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[31] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: Galls, LLC, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 675% | [12],[28] | 6.75% | [15],[16] | ||
Interest, PIK | 50% | [12],[28] | 0.50% | [15],[16] | ||
Par / Units | $ 18,326 | [12],[28] | $ 18,349 | [15],[16] | ||
Amortized Cost | 18,235 | [12],[28] | 18,247 | [15],[16] | ||
Fair Value | $ 18,143 | [12],[28] | $ 17,982 | [15],[16] | ||
Percentage of Net Assets | 140% | [12],[28] | 140% | [15],[16] | ||
Investment, Identifier [Axis]: Galls, LLC, First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.75% | [12],[18],[19],[28] | 6.75% | [15],[16],[20],[21] | ||
Par / Units | $ 2,776 | [12],[18],[19],[28] | $ 2,483 | [15],[16],[20],[21] | ||
Amortized Cost | 2,749 | [12],[18],[19],[28] | 2,450 | [15],[16],[20],[21] | ||
Fair Value | $ 2,723 | [12],[18],[19],[28] | $ 2,377 | [15],[16],[20],[21] | ||
Percentage of Net Assets | 20% | [12],[18],[19],[28] | 20% | [15],[16],[20],[21] | ||
Investment, Identifier [Axis]: Gaylord Chemical Company, L.L.C., First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.50% | [12],[28] | 6.50% | [15],[16] | ||
Par / Units | $ 27,175 | [12],[28] | $ 29,859 | [15],[16] | ||
Amortized Cost | 26,980 | [12],[28] | 29,634 | [15],[16] | ||
Fair Value | $ 27,175 | [12],[28] | $ 29,859 | [15],[16] | ||
Percentage of Net Assets | 210% | [12],[28] | 230% | [15],[16] | ||
Investment, Identifier [Axis]: Gaylord Chemical Company, L.L.C., First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.50% | [12],[18],[19],[31] | 6.50% | [15],[20],[21],[35] | ||
Par / Units | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | (16) | [12],[18],[19],[31] | (17) | [15],[20],[21],[35] | ||
Fair Value | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[31] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: Genesis Acquisition Co. (dba Procare Software), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 3.75% | [12],[26] | 3.75% | [15],[27] | ||
Par / Units | $ 1,988 | [12],[26] | $ 1,994 | [15],[27] | ||
Amortized Cost | 1,978 | [12],[26] | 1,982 | [15],[27] | ||
Fair Value | $ 1,959 | [12],[26] | $ 1,954 | [15],[27] | ||
Percentage of Net Assets | 20% | [12],[26] | 20% | [15],[27] | ||
Investment, Identifier [Axis]: Genesis Acquisition Co. (dba Procare Software), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 3.75% | [12],[18],[26] | 3.75% | [15],[20],[27] | ||
Par / Units | $ 293 | [12],[18],[26] | $ 293 | [15],[20],[27] | ||
Amortized Cost | 292 | [12],[18],[26] | 291 | [15],[20],[27] | ||
Fair Value | $ 289 | [12],[18],[26] | $ 287 | [15],[20],[27] | ||
Percentage of Net Assets | 0% | [12],[18],[26] | 0% | [15],[20],[27] | ||
Investment, Identifier [Axis]: Gerson Lehrman Group, Inc., First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.25% | [12],[37] | 5.25% | [15],[29] | ||
Par / Units | $ 4,486 | [12],[37] | $ 4,497 | [15],[29] | ||
Amortized Cost | 4,471 | [12],[37] | 4,481 | [15],[29] | ||
Fair Value | $ 4,486 | [12],[37] | $ 4,497 | [15],[29] | ||
Percentage of Net Assets | 30% | [12],[37] | 30% | [15],[29] | ||
Investment, Identifier [Axis]: Gerson Lehrman Group, Inc., First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.25% | [12],[18],[19],[31] | 5.25% | [15],[20],[21],[35] | ||
Par / Units | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | (6) | [12],[18],[19],[31] | (7) | [15],[20],[21],[35] | ||
Fair Value | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[31] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: Global Music Rights, LLC, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.50% | [12],[18],[28] | 5.50% | [15],[16],[20] | ||
Par / Units | $ 926 | [12],[18],[28] | $ 928 | [15],[16],[20] | ||
Amortized Cost | 911 | [12],[18],[28] | 912 | [15],[16],[20] | ||
Fair Value | $ 926 | [12],[18],[28] | $ 928 | [15],[16],[20] | ||
Percentage of Net Assets | 10% | [12],[18],[28] | 10% | [15],[16],[20] | ||
Investment, Identifier [Axis]: Global Music Rights, LLC, First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.50% | [12],[18],[19],[31] | 5.50% | [15],[20],[21],[35] | ||
Par / Units | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | (1) | [12],[18],[19],[31] | (1) | [15],[20],[21],[35] | ||
Fair Value | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[31] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: Gloves Buyer, Inc. (dba Protective Industrial Products), Second lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 8.25% | [12],[13],[18] | 8.25% | [15],[20],[29] | ||
Par / Units | $ 6,300 | [12],[13],[18] | $ 6,300 | [15],[20],[29] | ||
Amortized Cost | 6,176 | [12],[13],[18] | 6,172 | [15],[20],[29] | ||
Fair Value | $ 6,205 | [12],[13],[18] | $ 6,205 | [15],[20],[29] | ||
Percentage of Net Assets | 40% | [12],[13],[18] | 40% | [15],[20],[29] | ||
Investment, Identifier [Axis]: Gloves Holdings, LP (dba Protective Industrial Products), LP Interest | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 700 | [12],[18],[22],[23] | $ 700 | [15],[20],[24],[25] | ||
Fair Value | $ 829 | [12],[18],[22],[23] | $ 829 | [15],[20],[24],[25] | ||
Percentage of Net Assets | 10% | [12],[18],[22],[23] | 10% | [15],[20],[24],[25] | ||
Investment Owned, Balance, Shares | 7,000 | [12],[18],[22],[23] | 7,000 | [15],[20],[24],[25] | ||
Investment, Identifier [Axis]: GoHealth, Inc., Common Stock | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 1,163 | [12],[18],[22],[53] | $ 1,163 | [15],[20],[24],[54] | ||
Fair Value | $ 246 | [12],[18],[22],[53] | $ 158 | [15],[20],[24],[54] | ||
Percentage of Net Assets | 0% | [12],[18],[22],[53] | 0% | [15],[20],[24],[54] | ||
Investment Owned, Balance, Shares | 15,139 | [12],[18],[22],[53] | 15,139 | [15],[20],[24],[54] | ||
Investment, Identifier [Axis]: GovBrands Intermediate, Inc., First lien senior secured delayed draw term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | [15],[16],[20],[21],[48] | 5.50% | ||||
Par / Units | [15],[16],[20],[21],[48] | $ 555 | ||||
Amortized Cost | [15],[16],[20],[21],[48] | 541 | ||||
Fair Value | [15],[16],[20],[21],[48] | $ 521 | ||||
Percentage of Net Assets | [15],[16],[20],[21],[48] | 0% | ||||
Investment, Identifier [Axis]: GovBrands Intermediate, Inc., First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | [15],[16],[20] | 5.50% | ||||
Par / Units | [15],[16],[20] | $ 2,459 | ||||
Amortized Cost | [15],[16],[20] | 2,410 | ||||
Fair Value | [15],[16],[20] | $ 2,348 | ||||
Percentage of Net Assets | [15],[16],[20] | 20% | ||||
Investment, Identifier [Axis]: GovBrands Intermediate, Inc., First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | [15],[16],[20],[21] | 5.50% | ||||
Par / Units | [15],[16],[20],[21] | $ 166 | ||||
Amortized Cost | [15],[16],[20],[21] | 163 | ||||
Fair Value | [15],[16],[20],[21] | $ 158 | ||||
Percentage of Net Assets | [15],[16],[20],[21] | 0% | ||||
Investment, Identifier [Axis]: GrowthCurve Capital Sunrise Co-Invest LP (dba Brightway), LP Interest | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 106 | [12],[18],[22],[23] | $ 106 | [15],[20],[24],[25] | ||
Fair Value | $ 102 | [12],[18],[22],[23] | $ 105 | [15],[20],[24],[25] | ||
Percentage of Net Assets | 0% | [12],[18],[22],[23] | 0% | [15],[20],[24],[25] | ||
Investment Owned, Balance, Shares | 106 | [12],[18],[22],[23] | 106 | [15],[20],[24],[25] | ||
Investment, Identifier [Axis]: Guidehouse Inc., First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.25% | [12],[18],[32] | 6.25% | [15],[20],[29] | ||
Par / Units | $ 918 | [12],[18],[32] | $ 921 | [15],[20],[29] | ||
Amortized Cost | 911 | [12],[18],[32] | 913 | [15],[20],[29] | ||
Fair Value | $ 914 | [12],[18],[32] | $ 911 | [15],[20],[29] | ||
Percentage of Net Assets | 10% | [12],[18],[32] | 10% | [15],[20],[29] | ||
Investment, Identifier [Axis]: H&F Opportunities LUX III S.À R.L (dba Checkmarx), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 7.50% | [12],[13],[14],[18] | 7.50% | [15],[17],[20],[29] | ||
Par / Units | $ 14,544 | [12],[13],[14],[18] | $ 14,544 | [15],[17],[20],[29] | ||
Amortized Cost | 14,295 | [12],[13],[14],[18] | 14,278 | [15],[17],[20],[29] | ||
Fair Value | $ 14,544 | [12],[13],[14],[18] | $ 14,544 | [15],[17],[20],[29] | ||
Percentage of Net Assets | 110% | [12],[13],[14],[18] | 110% | [15],[17],[20],[29] | ||
Investment, Identifier [Axis]: H&F Opportunities LUX III S.À R.L (dba Checkmarx), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 7.50% | [12],[14],[18],[19],[31] | 7.50% | [15],[17],[20],[21],[35] | ||
Par / Units | $ 0 | [12],[14],[18],[19],[31] | $ 0 | [15],[17],[20],[21],[35] | ||
Amortized Cost | (70) | [12],[14],[18],[19],[31] | (75) | [15],[17],[20],[21],[35] | ||
Fair Value | $ 0 | [12],[14],[18],[19],[31] | $ 0 | [15],[17],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[14],[18],[19],[31] | 0% | [15],[17],[20],[21],[35] | ||
Investment, Identifier [Axis]: H-Food Holdings, LLC, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 4% | [12],[13],[50] | 4% | [15],[29],[41] | ||
Par / Units | $ 1 | [12],[13],[50] | $ 1 | [15],[29],[41] | ||
Amortized Cost | 1 | [12],[13],[50] | 1 | [15],[29],[41] | ||
Fair Value | $ 1 | [12],[13],[50] | $ 1 | [15],[29],[41] | ||
Percentage of Net Assets | 0% | [12],[13],[50] | 0% | [15],[29],[41] | ||
Investment, Identifier [Axis]: H-Food Holdings, LLC, LLC Interest | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 1,625 | [12],[18],[22],[23] | $ 1,625 | [15],[20],[24],[25] | ||
Fair Value | $ 1,395 | [12],[18],[22],[23] | $ 1,395 | [15],[20],[24],[25] | ||
Percentage of Net Assets | 10% | [12],[18],[22],[23] | 10% | [15],[20],[24],[25] | ||
Investment Owned, Balance, Shares | 1,625 | [12],[18],[22],[23] | 1,625 | [15],[20],[24],[25] | ||
Investment, Identifier [Axis]: H-Food Holdings, LLC, Second lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 7% | [12],[13] | 7% | [15],[29] | ||
Par / Units | $ 18,200 | [12],[13] | $ 18,200 | [15],[29] | ||
Amortized Cost | 17,994 | [12],[13] | 17,979 | [15],[29] | ||
Fair Value | $ 15,196 | [12],[13] | $ 15,697 | [15],[29] | ||
Percentage of Net Assets | 100% | [12],[13] | 110% | [15],[29] | ||
Investment, Identifier [Axis]: HGH Purchaser, Inc. (dba Horizon Services), First lien senior secured delayed draw term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.50% | [12],[18],[30],[37] | 6.50% | [15],[20],[21],[33],[48] | ||
Par / Units | $ 7,897 | [12],[18],[30],[37] | $ 7,204 | [15],[20],[21],[33],[48] | ||
Amortized Cost | 7,844 | [12],[18],[30],[37] | 7,154 | [15],[20],[21],[33],[48] | ||
Fair Value | $ 7,856 | [12],[18],[30],[37] | $ 7,130 | [15],[20],[21],[33],[48] | ||
Percentage of Net Assets | 50% | [12],[18],[30],[37] | 50% | [15],[20],[21],[33],[48] | ||
Investment, Identifier [Axis]: HGH Purchaser, Inc. (dba Horizon Services), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.50% | [12],[37] | 6% | [15],[16] | ||
Par / Units | $ 26,713 | [12],[37] | $ 26,782 | [15],[16] | ||
Amortized Cost | 26,488 | [12],[37] | 26,537 | [15],[16] | ||
Fair Value | $ 26,580 | [12],[37] | $ 26,514 | [15],[16] | ||
Percentage of Net Assets | 210% | [12],[37] | 200% | [15],[16] | ||
Investment, Identifier [Axis]: HGH Purchaser, Inc. (dba Horizon Services), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.50% | [12],[18],[19],[37] | 6.50% | [15],[20],[21],[33] | ||
Par / Units | $ 3,280 | [12],[18],[19],[37] | $ 2,243 | [15],[20],[21],[33] | ||
Amortized Cost | 3,255 | [12],[18],[19],[37] | 2,216 | [15],[20],[21],[33] | ||
Fair Value | $ 3,261 | [12],[18],[19],[37] | $ 2,206 | [15],[20],[21],[33] | ||
Percentage of Net Assets | 30% | [12],[18],[19],[37] | 20% | [15],[20],[21],[33] | ||
Investment, Identifier [Axis]: Hercules Borrower, LLC (dba The Vincit Group), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.50% | [12],[28] | 6.50% | [15],[16] | ||
Par / Units | $ 28,199 | [12],[28] | $ 28,270 | [15],[16] | ||
Amortized Cost | 27,913 | [12],[28] | 27,969 | [15],[16] | ||
Fair Value | $ 28,199 | [12],[28] | $ 28,200 | [15],[16] | ||
Percentage of Net Assets | 220% | [12],[28] | 220% | [15],[16] | ||
Investment, Identifier [Axis]: Hercules Borrower, LLC (dba The Vincit Group), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.50% | [18],[19],[28] | 6.50% | [15],[20],[21],[27] | ||
Par / Units | $ 357 | [12],[18],[19],[28] | $ 357 | [15],[20],[21],[27] | ||
Amortized Cost | 326 | [12],[18],[19],[28] | 324 | [15],[20],[21],[27] | ||
Fair Value | $ 357 | [12],[18],[19],[28] | $ 348 | [15],[20],[21],[27] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[28] | 0% | [15],[20],[21],[27] | ||
Investment, Identifier [Axis]: Hercules Buyer, LLC (dba The Vincit Group), Common Units | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 350 | [12],[18],[22],[23],[55] | $ 350 | [15],[20],[24],[25],[56] | ||
Fair Value | $ 368 | [12],[18],[22],[23],[55] | $ 368 | [15],[20],[24],[25],[56] | ||
Percentage of Net Assets | 0% | [12],[18],[22],[23],[55] | 0% | [15],[20],[24],[25],[56] | ||
Investment Owned, Balance, Shares | 350,000 | [12],[18],[22],[23],[55] | 350,000 | [15],[20],[24],[25],[56] | ||
Investment, Identifier [Axis]: Hercules Buyer, LLC (dba The Vincit Group), Unsecured notes | ||||||
Schedule of Investments [Line Items] | ||||||
Interest, PIK | 48% | [12],[18],[38],[55] | 0.48% | [15],[20],[39],[56] | ||
Par / Units | $ 825 | [12],[18],[38],[55] | $ 825 | [15],[20],[39],[56] | ||
Amortized Cost | 825 | [12],[18],[38],[55] | 825 | [15],[20],[39],[56] | ||
Fair Value | $ 825 | [12],[18],[38],[55] | $ 825 | [15],[20],[39],[56] | ||
Percentage of Net Assets | 10% | [12],[18],[38],[55] | 10% | [15],[20],[39],[56] | ||
Investment, Identifier [Axis]: Hg Genesis 8 Sumoco Limited, Unsecured facility | ||||||
Schedule of Investments [Line Items] | ||||||
Interest, PIK | 600% | [12],[14],[18],[45] | 6% | [15],[17],[20],[46] | ||
Par / Units | $ 6,069 | [12],[14],[18],[45] | $ 5,905 | [15],[17],[20],[46] | ||
Amortized Cost | 6,481 | [12],[14],[18],[45] | 6,477 | [15],[17],[20],[46] | ||
Fair Value | $ 6,069 | [12],[14],[18],[45] | $ 5,905 | [15],[17],[20],[46] | ||
Percentage of Net Assets | 50% | [12],[14],[18],[45] | 50% | [15],[17],[20],[46] | ||
Investment, Identifier [Axis]: Hg Genesis 9 SumoCo Limited, Unsecured facility | ||||||
Schedule of Investments [Line Items] | ||||||
Interest, PIK | 700% | [12],[14],[18],[57] | 7% | [15],[17],[20],[44] | ||
Par / Units | $ 1,057 | [12],[14],[18],[57] | $ 1,015 | [15],[17],[20],[44] | ||
Amortized Cost | 1,066 | [12],[14],[18],[57] | 1,042 | [15],[17],[20],[44] | ||
Fair Value | $ 1,057 | [12],[14],[18],[57] | $ 1,015 | [15],[17],[20],[44] | ||
Percentage of Net Assets | 10% | [12],[14],[18],[57] | 10% | [15],[17],[20],[44] | ||
Investment, Identifier [Axis]: Hg Saturn Luchaco Limited, Unsecured facility | ||||||
Schedule of Investments [Line Items] | ||||||
Interest, PIK | 750% | [12],[14],[18],[45] | 7.50% | [15],[17],[20],[46] | ||
Par / Units | $ 26,020 | [12],[14],[18],[45] | $ 24,042 | [15],[17],[20],[46] | ||
Amortized Cost | 28,478 | [12],[14],[18],[45] | 27,164 | [15],[17],[20],[46] | ||
Fair Value | $ 25,759 | [12],[14],[18],[45] | $ 23,741 | [15],[17],[20],[46] | ||
Percentage of Net Assets | 200% | [12],[14],[18],[45] | 180% | [15],[17],[20],[46] | ||
Investment, Identifier [Axis]: Hissho Sushi Holdings, LLC, Class A units | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 75 | [12],[18],[22],[23] | $ 75 | [15],[20],[24],[25] | ||
Fair Value | $ 83 | [12],[18],[22],[23] | $ 83 | [15],[20],[24],[25] | ||
Percentage of Net Assets | 0% | [12],[18],[22],[23] | 0% | [15],[20],[24],[25] | ||
Investment Owned, Balance, Shares | 7,502 | [12],[18],[22],[23] | 7,502 | [15],[20],[24],[25] | ||
Investment, Identifier [Axis]: Hissho Sushi Merger Sub LLC, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | [12],[18],[37] | 5.75% | ||||
Par / Units | [12],[18],[37] | $ 899 | ||||
Amortized Cost | [12],[18],[37] | 891 | ||||
Fair Value | [12],[18],[37] | $ 899 | ||||
Percentage of Net Assets | [12],[18],[37] | 10% | ||||
Investment, Identifier [Axis]: Hissho Sushi Merger Sub LLC, First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | [12],[18],[19],[37] | 5.75% | ||||
Par / Units | [12],[18],[19],[37] | $ 5 | ||||
Amortized Cost | [12],[18],[19],[37] | 4 | ||||
Fair Value | [12],[18],[19],[37] | $ 5 | ||||
Percentage of Net Assets | [12],[18],[19],[37] | 0% | ||||
Investment, Identifier [Axis]: Hissho Sushi Merger Sub, LLC, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | [15],[20],[49] | 5.75% | ||||
Par / Units | [15],[20],[49] | $ 901 | ||||
Amortized Cost | [15],[20],[49] | 893 | ||||
Fair Value | [15],[20],[49] | $ 899 | ||||
Percentage of Net Assets | [15],[20],[49] | 10% | ||||
Investment, Identifier [Axis]: Hissho Sushi Merger Sub, LLC, First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | [15],[20],[21],[49] | 5.75% | ||||
Par / Units | [15],[20],[21],[49] | $ 14 | ||||
Amortized Cost | [15],[20],[21],[49] | 13 | ||||
Fair Value | [15],[20],[21],[49] | $ 14 | ||||
Percentage of Net Assets | [15],[20],[21],[49] | 0% | ||||
Investment, Identifier [Axis]: Hometown Food Company, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5% | [12],[13] | 5% | [15],[29] | ||
Par / Units | $ 1,464 | [12],[13] | $ 1,618 | [15],[29] | ||
Amortized Cost | 1,461 | [12],[13] | 1,613 | [15],[29] | ||
Fair Value | $ 1,464 | [12],[13] | $ 1,618 | [15],[29] | ||
Percentage of Net Assets | 10% | [12],[13] | 10% | [15],[29] | ||
Investment, Identifier [Axis]: Hometown Food Company, First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5% | [12],[18],[19],[31] | 5% | [15],[20],[21],[29] | ||
Par / Units | $ 0 | [12],[18],[19],[31] | $ 94 | [15],[20],[21],[29] | ||
Amortized Cost | (1) | [12],[18],[19],[31] | 93 | [15],[20],[21],[29] | ||
Fair Value | $ 0 | [12],[18],[19],[31] | $ 94 | [15],[20],[21],[29] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[31] | 0% | [15],[20],[21],[29] | ||
Investment, Identifier [Axis]: Hyland Software, Inc., Second lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.25% | [12],[13],[18],[50] | 6.25% | [15],[20],[29] | ||
Par / Units | $ 12,145 | [12],[13],[18],[50] | $ 12,145 | [15],[20],[29] | ||
Amortized Cost | 12,138 | [12],[13],[18],[50] | 12,137 | [15],[20],[29] | ||
Fair Value | $ 11,560 | [12],[13],[18],[50] | $ 11,477 | [15],[20],[29] | ||
Percentage of Net Assets | 90% | [12],[13],[18],[50] | 90% | [15],[20],[29] | ||
Investment, Identifier [Axis]: IG Investments Holdings, LLC (dba Insight Global), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6% | [12],[18],[28] | 6% | [15],[20],[29] | ||
Par / Units | $ 9,138 | [12],[18],[28] | $ 9,161 | [15],[20],[29] | ||
Amortized Cost | 8,988 | [12],[18],[28] | 9,005 | [15],[20],[29] | ||
Fair Value | $ 9,070 | [12],[18],[28] | $ 9,047 | [15],[20],[29] | ||
Percentage of Net Assets | 70% | [12],[18],[28] | 70% | [15],[20],[29] | ||
Investment, Identifier [Axis]: IG Investments Holdings, LLC (dba Insight Global), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6% | [12],[18],[19],[31] | 6% | [15],[20],[21],[29] | ||
Par / Units | $ 0 | [12],[18],[19],[31] | $ 289 | [15],[20],[21],[29] | ||
Amortized Cost | (11) | [12],[18],[19],[31] | 278 | [15],[20],[21],[29] | ||
Fair Value | $ (5) | [12],[18],[19],[31] | $ 280 | [15],[20],[21],[29] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[31] | 0% | [15],[20],[21],[29] | ||
Investment, Identifier [Axis]: Ideal Tridon Holdings, Inc., First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.25% | [12],[28] | 5.25% | [15],[16] | ||
Par / Units | $ 13,466 | [12],[28] | $ 13,467 | [15],[16] | ||
Amortized Cost | 13,388 | [12],[28] | 13,377 | [15],[16] | ||
Fair Value | $ 13,466 | [12],[28] | $ 13,467 | [15],[16] | ||
Percentage of Net Assets | 100% | [12],[28] | 100% | [15],[16] | ||
Investment, Identifier [Axis]: Ideal Tridon Holdings, Inc., First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.25% | [12],[13],[19] | 5.25% | [15],[21],[29] | ||
Par / Units | $ 854 | [12],[13],[19] | $ 709 | [15],[21],[29] | ||
Amortized Cost | 854 | [12],[13],[19] | 709 | [15],[21],[29] | ||
Fair Value | $ 854 | [12],[13],[19] | $ 709 | [15],[21],[29] | ||
Percentage of Net Assets | 10% | [12],[13],[19] | 10% | [15],[21],[29] | ||
Investment, Identifier [Axis]: Imprivata, Inc., Second lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.25% | [12],[18],[32] | 6.25% | [15],[20],[33] | ||
Par / Units | $ 882 | [12],[18],[32] | $ 882 | [15],[20],[33] | ||
Amortized Cost | 874 | [12],[18],[32] | 874 | [15],[20],[33] | ||
Fair Value | $ 867 | [12],[18],[32] | $ 860 | [15],[20],[33] | ||
Percentage of Net Assets | 10% | [12],[18],[32] | 10% | [15],[20],[33] | ||
Investment, Identifier [Axis]: Indigo Buyer, Inc. (dba Inovar Packaging Group), First lien senior secured delayed draw term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | [15],[20],[21],[48] | 5.75% | ||||
Par / Units | [15],[20],[21],[48] | $ 0 | ||||
Amortized Cost | [15],[20],[21],[48] | 0 | ||||
Fair Value | [15],[20],[21],[48] | $ 0 | ||||
Percentage of Net Assets | [15],[20],[21],[48] | 0% | ||||
Investment, Identifier [Axis]: Indigo Buyer, Inc. (dba Inovar Packaging Group), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.25% | [12],[18],[37] | 5.75% | [15],[20],[49] | ||
Par / Units | $ 895 | [12],[18],[37] | $ 647 | [15],[20],[49] | ||
Amortized Cost | 886 | [12],[18],[37] | 641 | [15],[20],[49] | ||
Fair Value | $ 895 | [12],[18],[37] | $ 647 | [15],[20],[49] | ||
Percentage of Net Assets | 10% | [12],[18],[37] | 0% | [15],[20],[49] | ||
Investment, Identifier [Axis]: Indigo Buyer, Inc. (dba Inovar Packaging Group), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.25% | [12],[18],[19],[37] | 5.75% | [15],[20],[21],[49] | ||
Par / Units | $ 17 | [12],[18],[19],[37] | $ 17 | [15],[20],[21],[49] | ||
Amortized Cost | 16 | [12],[18],[19],[37] | 16 | [15],[20],[21],[49] | ||
Fair Value | $ 17 | [12],[18],[19],[37] | $ 17 | [15],[20],[21],[49] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[37] | 0% | [15],[20],[21],[49] | ||
Investment, Identifier [Axis]: Innovation Ventures HoldCo, LLC (dba 5 Hour Energy), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.25% | [12],[18],[32] | 6.25% | [15],[20],[33] | ||
Par / Units | $ 1,000 | [12],[18],[32] | $ 1,000 | [15],[20],[33] | ||
Amortized Cost | 984 | [12],[18],[32] | 984 | [15],[20],[33] | ||
Fair Value | $ 983 | [12],[18],[32] | $ 980 | [15],[20],[33] | ||
Percentage of Net Assets | 10% | [12],[18],[32] | 10% | [15],[20],[33] | ||
Investment, Identifier [Axis]: Insight CP (Blocker) Holdings, L.P. (dba CivicPlus, LLC), LP Interest | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 31 | [12],[14],[18],[22],[23] | $ 31 | [15],[17],[20],[24],[25] | ||
Fair Value | $ 31 | [12],[14],[18],[22],[23] | $ 31 | [15],[17],[20],[24],[25] | ||
Percentage of Net Assets | 0% | [12],[14],[18],[22],[23] | 0% | [15],[17],[20],[24],[25] | ||
Investment Owned, Balance, Shares | 0 | [12],[14],[18],[22],[23] | 0 | [15],[17],[20],[24],[25] | ||
Investment, Identifier [Axis]: Integrity Marketing Acquisition, LLC, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.80% | [12],[28] | 5.75% | [15],[27] | ||
Par / Units | $ 27,218 | [12],[28] | $ 27,288 | [15],[27] | ||
Amortized Cost | 27,013 | [12],[28] | 27,063 | [15],[27] | ||
Fair Value | $ 27,218 | [12],[28] | $ 27,220 | [15],[27] | ||
Percentage of Net Assets | 210% | [12],[28] | 210% | [15],[27] | ||
Investment, Identifier [Axis]: Integrity Marketing Acquisition, LLC, First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.80% | [12],[18],[19],[31] | 5.75% | [15],[20],[21],[35] | ||
Par / Units | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | (11) | [12],[18],[19],[31] | (12) | [15],[20],[21],[35] | ||
Fair Value | $ 0 | [12],[18],[19],[31] | $ (5) | [15],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[31] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: Intelerad Medical Systems Incorporated (fka 11849573 Canada Inc.), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.50% | [12],[14],[37] | 6.50% | [15],[17],[49] | ||
Par / Units | $ 39,165 | [12],[14],[37] | $ 39,264 | [15],[17],[49] | ||
Amortized Cost | 38,856 | [12],[14],[37] | 38,935 | [15],[17],[49] | ||
Fair Value | $ 38,676 | [12],[14],[37] | $ 39,068 | [15],[17],[49] | ||
Percentage of Net Assets | 300% | [12],[14],[37] | 300% | [15],[17],[49] | ||
Investment, Identifier [Axis]: Intelerad Medical Systems Incorporated (fka 11849573 Canada Inc.), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.50% | [12],[14],[18],[37] | 6.50% | [15],[17],[20],[33] | ||
Par / Units | $ 1,530 | [12],[14],[18],[37] | $ 1,530 | [15],[17],[20],[33] | ||
Amortized Cost | 1,520 | [12],[14],[18],[37] | 1,520 | [15],[17],[20],[33] | ||
Fair Value | $ 1,511 | [12],[14],[18],[37] | $ 1,522 | [15],[17],[20],[33] | ||
Percentage of Net Assets | 10% | [12],[14],[18],[37] | 10% | [15],[17],[20],[33] | ||
Investment, Identifier [Axis]: Interoperability Bidco, Inc. (dba Lyniate), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 7% | [12],[18],[37] | 7% | [15],[20],[49] | ||
Par / Units | $ 14,204 | [12],[18],[37] | $ 14,240 | [15],[20],[49] | ||
Amortized Cost | 14,130 | [12],[18],[37] | 14,162 | [15],[20],[49] | ||
Fair Value | $ 14,098 | [12],[18],[37] | $ 14,133 | [15],[20],[49] | ||
Percentage of Net Assets | 110% | [12],[18],[37] | 110% | [15],[20],[49] | ||
Investment, Identifier [Axis]: Interoperability Bidco, Inc. (dba Lyniate), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 7% | [12],[18],[19],[37] | 7% | [15],[16],[20],[21] | ||
Par / Units | $ 339 | [12],[18],[19],[37] | $ 326 | [15],[16],[20],[21] | ||
Amortized Cost | 329 | [12],[18],[19],[37] | 323 | [15],[16],[20],[21] | ||
Fair Value | $ 330 | [12],[18],[19],[37] | $ 321 | [15],[16],[20],[21] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[37] | 0% | [15],[16],[20],[21] | ||
Investment, Identifier [Axis]: KOBHG Holdings L.P. (dba OB Hospitalist), Class A Interests | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 1,291 | [12],[18],[22],[23] | $ 1,291 | [15],[20],[24],[25] | ||
Fair Value | $ 1,199 | [12],[18],[22],[23] | $ 1,199 | [15],[20],[24],[25] | ||
Percentage of Net Assets | 10% | [12],[18],[22],[23] | 10% | [15],[20],[24],[25] | ||
Investment Owned, Balance, Shares | 1,291 | [12],[18],[22],[23] | 1,291 | [15],[20],[24],[25] | ||
Investment, Identifier [Axis]: KPCI Holdings, L.P., Class A Units | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 6,014 | [12],[18],[22],[23] | $ 6,014 | [15],[20],[24],[25] | ||
Fair Value | $ 6,526 | [12],[18],[22],[23] | $ 6,425 | [15],[20],[24],[25] | ||
Percentage of Net Assets | 50% | [12],[18],[22],[23] | 50% | [15],[20],[24],[25] | ||
Investment Owned, Balance, Shares | 5,665 | [12],[18],[22],[23] | 5,665 | [15],[20],[24],[25] | ||
Investment, Identifier [Axis]: KPSKY Acquisition, Inc. (dba BluSky), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.50% | [12],[18],[32] | 5.50% | [15],[20],[29] | ||
Par / Units | $ 986 | [12],[18],[32] | $ 988 | [15],[20],[29] | ||
Amortized Cost | 969 | [12],[18],[32] | 971 | [15],[20],[29] | ||
Fair Value | $ 969 | [12],[18],[32] | $ 963 | [15],[20],[29] | ||
Percentage of Net Assets | 10% | [12],[18],[32] | 10% | [15],[20],[29] | ||
Investment, Identifier [Axis]: KUSRP Intermediate, Inc. (dba U.S. Retirement and Benefits Partners), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest, PIK | 950% | [12],[13],[18] | 9.50% | [15],[20],[27] | ||
Par / Units | $ 1,595 | [12],[13],[18] | $ 1,505 | [15],[20],[27] | ||
Amortized Cost | 1,573 | [12],[13],[18] | 1,483 | [15],[20],[27] | ||
Fair Value | $ 1,583 | [12],[13],[18] | $ 1,487 | [15],[20],[27] | ||
Percentage of Net Assets | 10% | [12],[13],[18] | 10% | [15],[20],[27] | ||
Investment, Identifier [Axis]: Kaseya Inc., First lien senior secured delayed draw term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.75% | [12],[18],[19],[30] | 5.75% | [15],[20],[21],[48] | ||
Par / Units | $ 0 | [12],[18],[19],[30] | $ 0 | [15],[20],[21],[48] | ||
Amortized Cost | 0 | [12],[18],[19],[30] | 0 | [15],[20],[21],[48] | ||
Fair Value | $ 0 | [12],[18],[19],[30] | $ 0 | [15],[20],[21],[48] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[30] | 0% | [15],[20],[21],[48] | ||
Investment, Identifier [Axis]: Kaseya Inc., First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.75% | [12],[18],[37] | 5.75% | [15],[20],[49] | ||
Par / Units | $ 535 | [12],[18],[37] | $ 535 | [15],[20],[49] | ||
Amortized Cost | 525 | [12],[18],[37] | 525 | [15],[20],[49] | ||
Fair Value | $ 534 | [12],[18],[37] | $ 530 | [15],[20],[49] | ||
Percentage of Net Assets | 0% | [12],[18],[37] | 0% | [15],[20],[49] | ||
Investment, Identifier [Axis]: Kaseya Inc., First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.75% | [12],[18],[19],[31] | 5.75% | [15],[20],[21],[35] | ||
Par / Units | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | (1) | [12],[18],[19],[31] | (1) | [15],[20],[21],[35] | ||
Fair Value | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[31] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: Knockout Intermediate Holdings I Inc. (dba Kaseya Inc.), Perpetual Preferred Stock | ||||||
Schedule of Investments [Line Items] | ||||||
Interest, PIK | [12],[18],[23],[38] | 1,175% | ||||
Amortized Cost | [12],[18],[23],[38] | $ 415 | ||||
Fair Value | [12],[18],[23],[38] | $ 423 | ||||
Percentage of Net Assets | [12],[18],[23],[38] | 0% | ||||
Investment Owned, Balance, Shares | [12],[18],[23],[38] | 400 | ||||
Investment, Identifier [Axis]: Knockout Intermediate Holdings I Inc. (dba Kaseya), Perpetual Preferred Stock | ||||||
Schedule of Investments [Line Items] | ||||||
Interest, PIK | [15],[20],[25],[39] | 11.75% | ||||
Amortized Cost | [15],[20],[25],[39] | $ 390 | ||||
Fair Value | [15],[20],[25],[39] | $ 395 | ||||
Percentage of Net Assets | [15],[20],[25],[39] | 0% | ||||
Investment Owned, Balance, Shares | [15],[20],[25],[39] | 400 | ||||
Investment, Identifier [Axis]: LSI Financing 1 DAC, Preferred Equity | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 1,063 | [12],[14],[18],[22],[23] | $ 311 | [15],[17],[20],[24],[25] | ||
Fair Value | $ 1,061 | [12],[14],[18],[22],[23] | $ 309 | [15],[17],[20],[24],[25] | ||
Percentage of Net Assets | 10% | [12],[14],[18],[22],[23] | 0% | [15],[17],[20],[24],[25] | ||
Investment Owned, Balance, Shares | 1,060,730 | [12],[14],[18],[22],[23] | 308,731 | [15],[17],[20],[24],[25] | ||
Investment, Identifier [Axis]: Lazer Spot Holdings, Inc. (f/k/a Lazer Spot GB Holdings, Inc.), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.75% | [12],[26] | 5.75% | [15],[27] | ||
Par / Units | $ 39,976 | [12],[26] | $ 40,079 | [15],[27] | ||
Amortized Cost | 39,629 | [12],[26] | 39,703 | [15],[27] | ||
Fair Value | $ 39,976 | [12],[26] | $ 40,079 | [15],[27] | ||
Percentage of Net Assets | 310% | [12],[26] | 310% | [15],[27] | ||
Investment, Identifier [Axis]: Lazer Spot Holdings, Inc. (f/k/a Lazer Spot GB Holdings, Inc.), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.75% | [12],[18],[19],[31] | 5.75% | [15],[20],[21],[35] | ||
Par / Units | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | (58) | [12],[18],[19],[31] | (64) | [15],[20],[21],[35] | ||
Fair Value | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[31] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: Learning Care Group (US) No. 2 Inc., Second lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 7.50% | [12],[28] | 7.50% | [15],[16] | ||
Par / Units | $ 5,393 | [12],[28] | $ 5,393 | [15],[16] | ||
Amortized Cost | 5,348 | [12],[28] | 5,345 | [15],[16] | ||
Fair Value | $ 5,312 | [12],[28] | $ 5,164 | [15],[16] | ||
Percentage of Net Assets | 40% | [12],[28] | 40% | [15],[16] | ||
Investment, Identifier [Axis]: Lignetics Investment Corp., First lien senior secured delayed draw term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | [15],[20],[21],[35],[48] | 6% | ||||
Par / Units | [15],[20],[21],[35],[48] | $ 0 | ||||
Amortized Cost | [15],[20],[21],[35],[48] | (12) | ||||
Fair Value | [15],[20],[21],[35],[48] | $ (25) | ||||
Percentage of Net Assets | [15],[20],[21],[35],[48] | 0% | ||||
Investment, Identifier [Axis]: Lignetics Investment Corp., First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6% | [12],[28] | 6% | [15],[16] | ||
Par / Units | $ 10,907 | [12],[28] | $ 9,706 | [15],[16] | ||
Amortized Cost | 10,798 | [12],[28] | 9,604 | [15],[16] | ||
Fair Value | $ 10,743 | [12],[28] | $ 9,512 | [15],[16] | ||
Percentage of Net Assets | 80% | [12],[28] | 70% | [15],[16] | ||
Investment, Identifier [Axis]: Lignetics Investment Corp., First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6% | [12],[18],[19],[28] | 6% | [15],[20],[21],[29] | ||
Par / Units | $ 784 | [12],[18],[19],[28] | $ 882 | [15],[20],[21],[29] | ||
Amortized Cost | 771 | [12],[18],[19],[28] | 868 | [15],[20],[21],[29] | ||
Fair Value | $ 762 | [12],[18],[19],[28] | $ 853 | [15],[20],[21],[29] | ||
Percentage of Net Assets | 10% | [12],[18],[19],[28] | 10% | [15],[20],[21],[29] | ||
Investment, Identifier [Axis]: LineStar Integrity Services LLC, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 7.25% | [12],[47] | 7.25% | [15],[27] | ||
Par / Units | $ 8,450 | [12],[47] | $ 9,177 | [15],[27] | ||
Amortized Cost | 8,486 | [12],[47] | 9,202 | [15],[27] | ||
Fair Value | $ 8,027 | [12],[47] | $ 8,672 | [15],[27] | ||
Percentage of Net Assets | 60% | [12],[47] | 70% | [15],[27] | ||
Investment, Identifier [Axis]: Litera Bidco LLC, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.82% | [12],[32] | 5.91% | [15],[33] | ||
Par / Units | $ 26,112 | [12],[32] | $ 26,179 | [15],[33] | ||
Amortized Cost | 25,895 | [12],[32] | 25,947 | [15],[33] | ||
Fair Value | $ 26,088 | [12],[32] | $ 26,131 | [15],[33] | ||
Percentage of Net Assets | 200% | [12],[32] | 200% | [15],[33] | ||
Investment, Identifier [Axis]: Litera Bidco LLC, First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.50% | [12],[18],[19],[31] | 5.75% | [15],[16],[20],[21] | ||
Par / Units | $ 0 | [12],[18],[19],[31] | $ 278 | [15],[16],[20],[21] | ||
Amortized Cost | (5) | [12],[18],[19],[31] | 273 | [15],[16],[20],[21] | ||
Fair Value | $ (3) | [12],[18],[19],[31] | $ 273 | [15],[16],[20],[21] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[31] | 0% | [15],[16],[20],[21] | ||
Investment, Identifier [Axis]: Lytx, Inc., First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.75% | [12],[32] | 6.75% | [15],[33] | ||
Par / Units | $ 23,668 | [12],[32] | $ 23,668 | [15],[33] | ||
Amortized Cost | 23,474 | [12],[32] | 23,459 | [15],[33] | ||
Fair Value | $ 23,491 | [12],[32] | $ 23,491 | [15],[33] | ||
Percentage of Net Assets | 180% | [12],[32] | 180% | [15],[33] | ||
Investment, Identifier [Axis]: MHE Intermediate Holdings, LLC (dba OnPoint Group), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6% | [32] | 6% | [15],[36] | ||
Par / Units | $ 20,841 | [12],[32] | $ 20,894 | [15],[36] | ||
Amortized Cost | 20,681 | [12],[32] | 20,726 | [15],[36] | ||
Fair Value | $ 20,737 | [12],[32] | $ 20,685 | [15],[36] | ||
Percentage of Net Assets | 160% | [12],[32] | 160% | [15],[36] | ||
Investment, Identifier [Axis]: MHE Intermediate Holdings, LLC (dba OnPoint Group), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6% | [12],[18],[19],[32] | 6% | [15],[20],[21],[36] | ||
Par / Units | $ 250 | [12],[18],[19],[32] | $ 250 | [15],[20],[21],[36] | ||
Amortized Cost | 237 | [12],[18],[19],[32] | 236 | [15],[20],[21],[36] | ||
Fair Value | $ 241 | [12],[18],[19],[32] | $ 232 | [15],[20],[21],[36] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[32] | 0% | [15],[20],[21],[36] | ||
Investment, Identifier [Axis]: MINDBODY, Inc., First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 7% | [12],[13] | 7% | [15],[16] | ||
Par / Units | $ 11,936 | [12],[13] | $ 11,936 | [15],[16] | ||
Amortized Cost | 11,887 | [12],[13] | 11,882 | [15],[16] | ||
Fair Value | $ 11,876 | [12],[13] | $ 11,936 | [15],[16] | ||
Percentage of Net Assets | 90% | [12],[13] | 90% | [15],[16] | ||
Investment, Identifier [Axis]: MINDBODY, Inc., First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 7% | [12],[18],[19],[31] | 7% | [15],[20],[21],[35] | ||
Par / Units | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | (3) | [12],[18],[19],[31] | (4) | [15],[20],[21],[35] | ||
Fair Value | $ (5) | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[31] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: Maia Aggregator, LP, Class A-2 Units | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 112 | [12],[18],[22],[23] | $ 112 | [15],[20],[24],[25] | ||
Fair Value | $ 119 | [12],[18],[22],[23] | $ 119 | [15],[20],[24],[25] | ||
Percentage of Net Assets | 0% | [12],[18],[22],[23] | 0% | [15],[20],[24],[25] | ||
Investment Owned, Balance, Shares | 112,360 | [12],[18],[22],[23] | 112,360 | [15],[20],[24],[25] | ||
Investment, Identifier [Axis]: Mario Midco Holdings, Inc. (dba Len the Plumber), Unsecured facility | ||||||
Schedule of Investments [Line Items] | ||||||
Interest, PIK | 1,075% | [12],[18],[32] | 10.75% | [15],[20],[33] | ||
Par / Units | $ 170 | [12],[18],[32] | $ 163 | [15],[20],[33] | ||
Amortized Cost | 165 | [12],[18],[32] | 159 | [15],[20],[33] | ||
Fair Value | $ 168 | [12],[18],[32] | $ 161 | [15],[20],[33] | ||
Percentage of Net Assets | 0% | [12],[18],[32] | 0% | [15],[20],[33] | ||
Investment, Identifier [Axis]: Mario Purchaser, LLC (dba Len the Plumber), First lien senior secured delayed draw term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.75% | [12],[18],[19],[30],[31],[32] | 5.75% | [15],[20],[21],[33],[48] | ||
Par / Units | $ 81 | [12],[18],[19],[30],[32] | $ 81 | [15],[20],[21],[33],[48] | ||
Amortized Cost | 77 | [12],[18],[19],[30],[32] | 78 | [15],[20],[21],[33],[48] | ||
Fair Value | $ 80 | [12],[18],[19],[30],[32] | $ 80 | [15],[20],[21],[33],[48] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[30],[32] | 0% | [15],[20],[21],[33],[48] | ||
Investment, Identifier [Axis]: Mario Purchaser, LLC (dba Len the Plumber), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.75% | [12],[18],[32] | 5.75% | [15],[20],[33] | ||
Par / Units | $ 520 | [12],[18],[32] | $ 522 | [15],[20],[33] | ||
Amortized Cost | 511 | [12],[18],[32] | 512 | [15],[20],[33] | ||
Fair Value | $ 518 | [12],[18],[32] | $ 516 | [15],[20],[33] | ||
Percentage of Net Assets | 0% | [12],[18],[32] | 0% | [15],[20],[33] | ||
Investment, Identifier [Axis]: Mario Purchaser, LLC (dba Len the Plumber), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.75% | [12],[18],[19],[31] | 5.75% | [15],[20],[21],[35] | ||
Par / Units | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | (1) | [12],[18],[19],[31] | (1) | [15],[20],[21],[35] | ||
Fair Value | $ 0 | [12],[18],[19],[31] | $ (1) | [15],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[31] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: MessageBird BidCo B.V., First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.75% | [12],[13],[14] | 6.75% | [15],[17],[29] | ||
Par / Units | $ 16,000 | [12],[13],[14] | $ 16,000 | [15],[17],[29] | ||
Amortized Cost | 15,740 | [12],[13],[14] | 15,727 | [15],[17],[29] | ||
Fair Value | $ 15,720 | [12],[13],[14] | $ 15,640 | [15],[17],[29] | ||
Percentage of Net Assets | 120% | [12],[13],[14] | 120% | [15],[17],[29] | ||
Investment, Identifier [Axis]: MessageBird Holding B.V., Extended Series C Warrants | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 157 | [12],[14],[18],[22],[23] | $ 157 | [15],[17],[20],[24],[25] | ||
Fair Value | $ 21 | [12],[14],[18],[22],[23] | $ 18 | [15],[17],[20],[24],[25] | ||
Percentage of Net Assets | 0% | [12],[14],[18],[22],[23] | 0% | [15],[17],[20],[24],[25] | ||
Investment Owned, Balance, Shares | 25,540 | [12],[14],[18],[22],[23] | 25,540 | [15],[17],[20],[24],[25] | ||
Investment, Identifier [Axis]: Metis HoldCo, Inc. (dba Mavis Tire Express Services), Series A Convertible Preferred Stock | ||||||
Schedule of Investments [Line Items] | ||||||
Interest, PIK | 700% | [12],[18],[23],[38] | 7% | [15],[20],[25],[39] | ||
Amortized Cost | $ 36,003 | [12],[18],[23],[38] | $ 35,340 | [15],[20],[25],[39] | ||
Fair Value | $ 35,872 | [12],[18],[23],[38] | $ 34,895 | [15],[20],[25],[39] | ||
Percentage of Net Assets | 280% | [12],[18],[23],[38] | 270% | [15],[20],[25],[39] | ||
Investment Owned, Balance, Shares | 32,308 | [12],[18],[23],[38] | 32,308 | [15],[20],[25],[39] | ||
Investment, Identifier [Axis]: Milan Laser Holdings LLC, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5% | [12],[32] | 5% | [15],[33] | ||
Par / Units | $ 22,636 | [12],[32] | $ 22,694 | [15],[33] | ||
Amortized Cost | 22,473 | [12],[32] | 22,522 | [15],[33] | ||
Fair Value | $ 22,636 | [12],[32] | $ 22,694 | [15],[33] | ||
Percentage of Net Assets | 180% | [12],[32] | 180% | [15],[33] | ||
Investment, Identifier [Axis]: Milan Laser Holdings LLC, First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5% | [12],[18],[19],[31] | 5% | [15],[20],[21],[35] | ||
Par / Units | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | (12) | [12],[18],[19],[31] | (13) | [15],[20],[21],[35] | ||
Fair Value | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[31] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: Minerva Holdco, Inc, Series A Preferred Stock | ||||||
Schedule of Investments [Line Items] | ||||||
Interest, PIK | 1,075% | [12],[18],[23],[38] | 10.75% | [15],[20],[25],[39] | ||
Amortized Cost | $ 1,080 | [12],[18],[23],[38] | $ 1,051 | [15],[20],[25],[39] | ||
Fair Value | $ 1,005 | [12],[18],[23],[38] | $ 962 | [15],[20],[25],[39] | ||
Percentage of Net Assets | 10% | [12],[18],[23],[38] | 10% | [15],[20],[25],[39] | ||
Investment Owned, Balance, Shares | 1,000 | [12],[18],[23],[38] | 1,000 | [15],[20],[25],[39] | ||
Investment, Identifier [Axis]: Ministry Brands Holdings, LLC, First lien senior secured delayed draw term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.50% | [12],[18],[19],[30],[32] | 5.50% | [15],[20],[21],[35],[48] | ||
Par / Units | $ 29 | [12],[18],[19],[30],[32] | $ 0 | [15],[20],[21],[35],[48] | ||
Amortized Cost | 26 | [12],[18],[19],[30],[32] | (2) | [15],[20],[21],[35],[48] | ||
Fair Value | $ 26 | [12],[18],[19],[30],[32] | $ (3) | [15],[20],[21],[35],[48] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[30],[32] | 0% | [15],[20],[21],[35],[48] | ||
Investment, Identifier [Axis]: Ministry Brands Holdings, LLC, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.50% | [12],[18],[37] | 5.50% | [15],[20],[29] | ||
Par / Units | $ 699 | [12],[18],[37] | $ 701 | [15],[20],[29] | ||
Amortized Cost | 687 | [12],[18],[37] | 688 | [15],[20],[29] | ||
Fair Value | $ 685 | [12],[18],[37] | $ 683 | [15],[20],[29] | ||
Percentage of Net Assets | 10% | [12],[18],[37] | 10% | [15],[20],[29] | ||
Investment, Identifier [Axis]: Ministry Brands Holdings, LLC, First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.50% | [12],[18],[19],[32] | 5.50% | [15],[20],[21],[29] | ||
Par / Units | $ 17 | [12],[18],[19],[32] | $ 34 | [15],[20],[21],[29] | ||
Amortized Cost | 16 | [12],[18],[19],[32] | 33 | [15],[20],[21],[29] | ||
Fair Value | $ 16 | [12],[18],[19],[32] | $ 32 | [15],[20],[21],[29] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[32] | 0% | [15],[20],[21],[29] | ||
Investment, Identifier [Axis]: Motus Group, LLC, Second lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.50% | [12],[13],[18] | 6.50% | |||
Par / Units | $ 3,615 | [12],[13],[18] | $ 3,615 | [15],[20],[29] | ||
Amortized Cost | 3,584 | [12],[13],[18] | 3,583 | [15],[20],[29] | ||
Fair Value | $ 3,552 | [12],[13],[18] | $ 3,543 | [15],[20],[29] | ||
Percentage of Net Assets | 30% | [12],[13],[18] | 30% | [15],[20],[29] | ||
Investment, Identifier [Axis]: Muine Gall, LLC, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest, PIK | 700% | [12],[14],[18],[26] | 7% | [15],[17],[20],[27] | ||
Par / Units | $ 55,637 | [12],[14],[18],[26] | $ 55,637 | [15],[17],[20],[27] | ||
Amortized Cost | 56,018 | [12],[14],[18],[26] | 55,956 | [15],[17],[20],[27] | ||
Fair Value | $ 55,498 | [12],[14],[18],[26] | $ 54,246 | [15],[17],[20],[27] | ||
Percentage of Net Assets | 430% | [12],[14],[18],[26] | 420% | [15],[17],[20],[27] | ||
Investment, Identifier [Axis]: NMI Acquisitionco, Inc. (dba Network Merchants), First lien senior secured delayed draw term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.75% | [12],[13],[18],[19],[30] | 5.75% | [15],[20],[21],[29],[48] | ||
Par / Units | $ 780 | [12],[13],[18],[19],[30] | $ 782 | [15],[20],[21],[29],[48] | ||
Amortized Cost | 771 | [12],[13],[18],[19],[30] | 772 | [15],[20],[21],[29],[48] | ||
Fair Value | $ 775 | [12],[13],[18],[19],[30] | $ 771 | [15],[20],[21],[29],[48] | ||
Percentage of Net Assets | 10% | [12],[13],[18],[19],[30] | 10% | [15],[20],[21],[29],[48] | ||
Investment, Identifier [Axis]: NMI Acquisitionco, Inc. (dba Network Merchants), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.75% | [12],[13] | 5.75% | [15],[29] | ||
Par / Units | $ 3,300 | [12],[13] | $ 3,308 | [15],[29] | ||
Amortized Cost | 3,286 | [12],[13] | 3,293 | [15],[29] | ||
Fair Value | $ 3,275 | [12],[13] | $ 3,267 | [15],[29] | ||
Percentage of Net Assets | 30% | [12],[13] | 30% | [15],[29] | ||
Investment, Identifier [Axis]: NMI Acquisitionco, Inc. (dba Network Merchants), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.75% | [12],[18],[19],[31] | 5.75% | [15],[20],[21],[35] | ||
Par / Units | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | (2) | [12],[18],[19],[31] | (2) | [15],[20],[21],[35] | ||
Fair Value | $ (2) | [12],[18],[19],[31] | $ (3) | [15],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[31] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: National Dentex Labs LLC (fka Barracuda Dental LLC), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 800% | [12],[37] | 8% | [15],[16] | ||
Interest, PIK | 300% | [12],[37] | 3% | [15],[16] | ||
Par / Units | $ 19,538 | [12],[37] | $ 19,439 | [15],[16] | ||
Amortized Cost | 19,363 | [12],[37] | 19,247 | [15],[16] | ||
Fair Value | $ 19,049 | [12],[37] | $ 18,953 | [15],[16] | ||
Percentage of Net Assets | 150% | [12],[37] | 150% | [15],[16] | ||
Investment, Identifier [Axis]: National Dentex Labs LLC (fka Barracuda Dental LLC), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 7% | [12],[18],[19],[37] | 7% | [15],[16],[20],[21] | ||
Par / Units | $ 1,459 | [12],[18],[19],[37] | $ 1,686 | [15],[16],[20],[21] | ||
Amortized Cost | 1,436 | [12],[18],[19],[37] | 1,660 | [15],[16],[20],[21] | ||
Fair Value | $ 1,417 | [12],[18],[19],[37] | $ 1,643 | [15],[16],[20],[21] | ||
Percentage of Net Assets | 10% | [12],[18],[19],[37] | 10% | [15],[16],[20],[21] | ||
Investment, Identifier [Axis]: Natural Partners, LLC, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6% | [12],[14],[18],[37] | 6% | [15],[17],[20],[27] | ||
Par / Units | $ 922 | [12],[14],[18],[37] | $ 924 | [15],[17],[20],[27] | ||
Amortized Cost | 907 | [12],[14],[18],[37] | 908 | [15],[17],[20],[27] | ||
Fair Value | $ 910 | [12],[14],[18],[37] | $ 906 | [15],[17],[20],[27] | ||
Percentage of Net Assets | 10% | [12],[14],[18],[37] | 10% | [15],[17],[20],[27] | ||
Investment, Identifier [Axis]: Natural Partners, LLC, First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6% | [12],[14],[18],[19],[31] | 6% | [15],[17],[20],[21],[35] | ||
Par / Units | $ 0 | [12],[14],[18],[19],[31] | $ 0 | [15],[17],[20],[21],[35] | ||
Amortized Cost | (1) | [12],[14],[18],[19],[31] | (1) | [15],[17],[20],[21],[35] | ||
Fair Value | $ (1) | [12],[14],[18],[19],[31] | $ (1) | [15],[17],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[14],[18],[19],[31] | 0% | [15],[17],[20],[21],[35] | ||
Investment, Identifier [Axis]: Nelipak Holding Company, First lien senior secured EUR revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 4.50% | [12],[18],[19],[58] | 4.50% | [15],[20],[21],[44] | ||
Par / Units | $ 208 | [12],[18],[19],[58] | $ 307 | [15],[20],[21],[44] | ||
Amortized Cost | 191 | [12],[18],[19],[58] | 300 | [15],[20],[21],[44] | ||
Fair Value | $ 206 | [12],[18],[19],[58] | $ 301 | [15],[20],[21],[44] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[58] | 0% | [15],[20],[21],[44] | ||
Investment, Identifier [Axis]: Nelipak Holding Company, First lien senior secured USD revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 4.25% | [12],[18],[19],[28] | 4.25% | [15],[16],[20],[21] | ||
Par / Units | $ 304 | [12],[18],[19],[28] | $ 128 | [15],[16],[20],[21] | ||
Amortized Cost | 299 | [12],[18],[19],[28] | 123 | [15],[16],[20],[21] | ||
Fair Value | $ 302 | [12],[18],[19],[28] | $ 121 | [15],[16],[20],[21] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[28] | 0% | [15],[16],[20],[21] | ||
Investment, Identifier [Axis]: Nelipak Holding Company, First lien senior secured USD term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 4.25% | [12],[28] | 4.25% | [15],[16] | ||
Par / Units | $ 272 | [12],[28] | $ 273 | [15],[16] | ||
Amortized Cost | 269 | [12],[28] | 270 | [15],[16] | ||
Fair Value | $ 271 | [12],[28] | $ 271 | [15],[16] | ||
Percentage of Net Assets | 0% | [12],[28] | 0% | [15],[16] | ||
Investment, Identifier [Axis]: Nelipak Holding Company, Second lien senior secured EUR term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 8.50% | [12],[18],[57] | 8.50% | [15],[20],[43] | ||
Par / Units | $ 7,790 | [12],[18],[57] | $ 7,653 | [15],[20],[43] | ||
Amortized Cost | 7,949 | [12],[18],[57] | 7,946 | [15],[20],[43] | ||
Fair Value | $ 7,732 | [12],[18],[57] | $ 7,557 | [15],[20],[43] | ||
Percentage of Net Assets | 60% | [12],[18],[57] | 60% | [15],[20],[43] | ||
Investment, Identifier [Axis]: Nelipak Holding Company, Second lien senior secured USD term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 8.25% | [12],[28] | 8.25% | [15],[16] | ||
Par / Units | $ 7,994 | [12],[28] | $ 7,994 | [15],[16] | ||
Amortized Cost | 7,919 | [12],[28] | 7,916 | [15],[16] | ||
Fair Value | $ 7,974 | [12],[28] | $ 7,934 | [15],[16] | ||
Percentage of Net Assets | 60% | [12],[28] | 60% | [15],[16] | ||
Investment, Identifier [Axis]: Nellson Nutraceutical, LLC, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.75% | [12],[37] | 5.75% | [15],[33] | ||
Par / Units | $ 25,933 | [12],[37] | $ 25,982 | [15],[33] | ||
Amortized Cost | 25,677 | [12],[37] | 25,643 | [15],[33] | ||
Fair Value | $ 25,673 | [12],[37] | $ 25,527 | [15],[33] | ||
Percentage of Net Assets | 200% | [12],[37] | 200% | [15],[33] | ||
Investment, Identifier [Axis]: New PLI Holdings, LLC (dba PLI), Class A Common Units | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 5,952 | [12],[18],[22],[23],[59] | $ 5,952 | [15],[20],[24],[25],[60] | ||
Fair Value | $ 12,139 | [12],[18],[22],[23],[59] | $ 12,126 | [15],[20],[24],[25],[60] | ||
Percentage of Net Assets | 90% | [12],[18],[22],[23],[59] | 90% | [15],[20],[24],[25],[60] | ||
Investment Owned, Balance, Shares | 10,755 | [12],[18],[22],[23],[59] | 10,755 | [15],[20],[24],[25],[60] | ||
Investment, Identifier [Axis]: Norvax, LLC (dba GoHealth), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 7.50% | [12],[32] | 7.50% | [15],[16] | ||
Par / Units | $ 16,976 | [12],[32] | $ 17,020 | [15],[16] | ||
Amortized Cost | 16,633 | [12],[32] | 16,646 | [15],[16] | ||
Fair Value | $ 16,764 | [12],[32] | $ 16,764 | [15],[16] | ||
Percentage of Net Assets | 130% | [12],[32] | 130% | [15],[16] | ||
Investment, Identifier [Axis]: Norvax, LLC (dba GoHealth), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.50% | [12],[18],[19],[31] | 6.50% | [15],[20],[21],[35] | ||
Par / Units | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | (12) | [12],[18],[19],[31] | (14) | [15],[20],[21],[35] | ||
Fair Value | $ (34) | [12],[18],[19],[31] | $ (41) | [15],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[31] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: Notorious Topco, LLC (dba Beauty Industry Group), First lien senior secured delayed draw term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.75% | [12],[18],[19],[30],[37] | 6.75% | [15],[20],[21],[48],[49] | ||
Par / Units | $ 2,097 | [12],[18],[19],[30],[37] | $ 2,102 | [15],[20],[21],[48],[49] | ||
Amortized Cost | 2,056 | [12],[18],[19],[30],[37] | 2,059 | [15],[20],[21],[48],[49] | ||
Fair Value | $ 2,071 | [12],[18],[19],[30],[37] | $ 2,092 | [15],[20],[21],[48],[49] | ||
Percentage of Net Assets | 20% | [12],[18],[19],[30],[37] | 20% | [15],[20],[21],[48],[49] | ||
Investment, Identifier [Axis]: Notorious Topco, LLC (dba Beauty Industry Group), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.75% | [12],[37] | 6.75% | [15],[49] | ||
Par / Units | $ 24,062 | [12],[37] | $ 24,123 | [15],[49] | ||
Amortized Cost | 23,766 | [12],[37] | 23,814 | [15],[49] | ||
Fair Value | $ 23,761 | [12],[37] | $ 24,002 | [15],[49] | ||
Percentage of Net Assets | 180% | [12],[37] | 190% | [15],[49] | ||
Investment, Identifier [Axis]: Notorious Topco, LLC (dba Beauty Industry Group), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.75% | [12],[18],[19],[37] | 6.75% | [15],[20],[21],[49] | ||
Par / Units | $ 423 | [12],[18],[19],[37] | $ 352 | [15],[20],[21],[49] | ||
Amortized Cost | 399 | [12],[18],[19],[37] | 327 | [15],[20],[21],[49] | ||
Fair Value | $ 396 | [12],[18],[19],[37] | $ 342 | [15],[20],[21],[49] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[37] | 0% | [15],[20],[21],[49] | ||
Investment, Identifier [Axis]: Nutraceutical International Corporation, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | [15],[29] | 7% | ||||
Par / Units | [15],[29] | $ 32,343 | ||||
Amortized Cost | [15],[29] | 32,016 | ||||
Fair Value | [15],[29] | $ 29,432 | ||||
Percentage of Net Assets | [15],[29] | 230% | ||||
Investment, Identifier [Axis]: Nutraceutical International Corporation, First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | [15],[20],[29] | 7% | ||||
Par / Units | [15],[20],[29] | $ 2,353 | ||||
Amortized Cost | [15],[20],[29] | 2,334 | ||||
Fair Value | [15],[20],[29] | $ 2,141 | ||||
Percentage of Net Assets | [15],[20],[29] | 20% | ||||
Investment, Identifier [Axis]: OB Hospitalist Group, Inc., First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.50% | [12],[18],[37] | 5.50% | [15],[16],[20] | ||
Par / Units | $ 18,355 | [12],[18],[37] | $ 18,448 | [15],[16],[20] | ||
Amortized Cost | 18,065 | [12],[18],[37] | 18,144 | [15],[16],[20] | ||
Fair Value | $ 18,125 | [12],[18],[37] | $ 18,217 | [15],[16],[20] | ||
Percentage of Net Assets | 140% | [12],[18],[37] | 140% | [15],[16],[20] | ||
Investment, Identifier [Axis]: OB Hospitalist Group, Inc., First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.50% | [12],[18],[19],[37] | 5.50% | [15],[16],[20],[21] | ||
Par / Units | $ 1,133 | [12],[18],[19],[37] | $ 1,016 | [15],[16],[20],[21] | ||
Amortized Cost | 1,089 | [12],[18],[19],[37] | 970 | [15],[16],[20],[21] | ||
Fair Value | $ 1,097 | [12],[18],[19],[37] | $ 979 | [15],[16],[20],[21] | ||
Percentage of Net Assets | 10% | [12],[18],[19],[37] | 10% | [15],[16],[20],[21] | ||
Investment, Identifier [Axis]: Ocala Bidco, Inc., First lien senior secured delayed draw term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.75% | [12],[18],[19],[30],[31] | 5.75% | [15],[20],[21],[35],[48] | ||
Par / Units | $ 0 | [12],[18],[19],[30],[31] | $ 0 | [15],[20],[21],[35],[48] | ||
Amortized Cost | (45) | [12],[18],[19],[30],[31] | (47) | [15],[20],[21],[35],[48] | ||
Fair Value | $ (34) | [12],[18],[19],[30],[31] | $ (56) | [15],[20],[21],[35],[48] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[30],[31] | 0% | [15],[20],[21],[35],[48] | ||
Investment, Identifier [Axis]: Ocala Bidco, Inc., First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 625% | [12],[28] | 6.25% | [15],[16] | ||
Interest, PIK | 275% | [12],[28] | 2.75% | [15],[16] | ||
Par / Units | $ 33,465 | [12],[28] | $ 33,234 | [15],[16] | ||
Amortized Cost | 32,790 | [12],[28] | 32,536 | [15],[16] | ||
Fair Value | $ 32,796 | [12],[28] | $ 32,403 | [15],[16] | ||
Percentage of Net Assets | 250% | [12],[28] | 250% | [15],[16] | ||
Investment, Identifier [Axis]: Ocala Bidco, Inc., Second lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest, PIK | 1,050% | [12],[18],[28] | 10.50% | [15],[16],[20] | ||
Par / Units | $ 23,429 | [12],[18],[28] | $ 22,535 | [15],[16],[20] | ||
Amortized Cost | 23,050 | [12],[18],[28] | 22,153 | [15],[16],[20] | ||
Fair Value | $ 23,136 | [12],[18],[28] | $ 22,197 | [15],[16],[20] | ||
Percentage of Net Assets | 180% | [12],[18],[28] | 170% | [15],[16],[20] | ||
Investment, Identifier [Axis]: Offen, Inc., First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.11% | [12],[32] | 5% | [15],[29] | ||
Par / Units | $ 4,670 | [12],[32] | $ 4,674 | [15],[29] | ||
Amortized Cost | 4,647 | [12],[32] | 4,649 | [15],[29] | ||
Fair Value | $ 4,670 | [12],[32] | $ 4,674 | [15],[29] | ||
Percentage of Net Assets | 40% | [12],[32] | 40% | [15],[29] | ||
Investment, Identifier [Axis]: PCF Holdco, LLC (dba PCF Insurance Services), Class A Units | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 6,375 | [12],[18],[22],[23] | $ 6,375 | [15],[20],[24],[25] | ||
Fair Value | $ 11,479 | [12],[18],[22],[23] | $ 11,479 | [15],[20],[24],[25] | ||
Percentage of Net Assets | 90% | [12],[18],[22],[23] | 90% | [15],[20],[24],[25] | ||
Investment Owned, Balance, Shares | 2,513,848 | [12],[18],[22],[23] | 2,513,848 | [15],[20],[24],[25] | ||
Investment, Identifier [Axis]: PCF Midco II, LLC (dba PCF Insurance Services), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest, PIK | 900% | [12],[18],[38] | 9% | [15],[20],[39] | ||
Par / Units | $ 24,332 | [12],[18],[38] | $ 23,791 | [15],[20],[39] | ||
Amortized Cost | 22,475 | [12],[18],[38] | 21,901 | [15],[20],[39] | ||
Fair Value | $ 22,142 | [12],[18],[38] | $ 21,412 | [15],[20],[39] | ||
Percentage of Net Assets | 170% | [12],[18],[38] | 170% | [15],[20],[39] | ||
Investment, Identifier [Axis]: PHM Netherlands Midco B.V. (dba Loparex), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 4.50% | [12],[18] | 4.50% | [15],[16],[20] | ||
Par / Units | $ 194 | [12],[18],[28] | $ 194 | [15],[16],[20] | ||
Amortized Cost | 185 | [12],[18],[28] | 185 | [15],[16],[20] | ||
Fair Value | $ 189 | [12],[18],[28] | $ 188 | [15],[16],[20] | ||
Percentage of Net Assets | 0% | [12],[18],[28] | 0% | [15],[16],[20] | ||
Investment, Identifier [Axis]: PHM Netherlands Midco B.V. (dba Loparex), Second lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 8.75% | [12],[28] | 8.75% | [15],[16] | ||
Par / Units | $ 28,000 | [12],[28] | $ 28,000 | [15],[16] | ||
Amortized Cost | 26,741 | [12],[28] | 26,689 | [15],[16] | ||
Fair Value | $ 27,440 | [12],[28] | $ 27,300 | [15],[16] | ||
Percentage of Net Assets | 210% | [12],[28] | 210% | [15],[16] | ||
Investment, Identifier [Axis]: Pacific BidCo Inc., First lien senior secured delayed draw term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.75% | [12],[14],[18],[19],[30],[31] | 5.75% | [15],[17],[20],[21],[35],[48] | ||
Par / Units | $ 0 | [12],[14],[18],[19],[30],[31] | $ 0 | [15],[17],[20],[21],[35],[48] | ||
Amortized Cost | (2) | [12],[14],[18],[19],[30],[31] | (2) | [15],[17],[20],[21],[35],[48] | ||
Fair Value | $ 0 | [12],[14],[18],[19],[30],[31] | $ (2) | [15],[17],[20],[21],[35],[48] | ||
Percentage of Net Assets | 0% | [12],[14],[18],[19],[30],[31] | 0% | [15],[17],[20],[21],[35],[48] | ||
Investment, Identifier [Axis]: Pacific BidCo Inc., First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.75% | [12],[14],[18],[37] | 5.75% | [15],[17],[20],[49] | ||
Par / Units | $ 1,718 | [12],[14],[18],[37] | $ 1,718 | [15],[17],[20],[49] | ||
Amortized Cost | 1,678 | [12],[14],[18],[37] | 1,677 | [15],[17],[20],[49] | ||
Fair Value | $ 1,692 | [12],[14],[18],[37] | $ 1,679 | [15],[17],[20],[49] | ||
Percentage of Net Assets | 10% | [12],[14],[18],[37] | 10% | [15],[17],[20],[49] | ||
Investment, Identifier [Axis]: Packaging Coordinators Midco, Inc., Second lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 7% | [12],[28] | 7% | [15],[16] | ||
Par / Units | $ 37,269 | [12],[28] | $ 37,269 | [15],[16] | ||
Amortized Cost | 36,661 | [12],[28] | 36,646 | [15],[16] | ||
Fair Value | $ 35,499 | [12],[28] | $ 35,219 | [15],[16] | ||
Percentage of Net Assets | 270% | [12],[28] | 270% | [15],[16] | ||
Investment, Identifier [Axis]: Parexel International, Inc. (dba Parexel), Second lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | [15],[20],[29] | 6.50% | ||||
Par / Units | [15],[20],[29] | $ 35,000 | ||||
Amortized Cost | [15],[20],[29] | 34,687 | ||||
Fair Value | [15],[20],[29] | $ 34,300 | ||||
Percentage of Net Assets | [15],[20],[29] | 260% | ||||
Investment, Identifier [Axis]: Patriot Acquisition TopCo S.A.R.L (dba Corza Health, Inc.), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.75% | [12],[14],[37] | 6.75% | [15],[17],[49] | ||
Par / Units | $ 25,456 | [12],[14],[37] | $ 25,521 | [15],[17],[49] | ||
Amortized Cost | 25,139 | [12],[14],[37] | 25,188 | [15],[17],[49] | ||
Fair Value | $ 25,074 | [12],[14],[37] | $ 25,202 | [15],[17],[49] | ||
Percentage of Net Assets | 190% | [12],[14],[37] | 190% | [15],[17],[49] | ||
Investment, Identifier [Axis]: Patriot Acquisition TopCo S.A.R.L (dba Corza Health, Inc.), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.75% | [12],[14],[18],[19],[31] | 6.75% | [15],[17],[20],[21],[49] | ||
Par / Units | $ 0 | [12],[14],[18],[19],[31] | $ 569 | [15],[17],[20],[21],[49] | ||
Amortized Cost | (31) | [12],[14],[18],[19],[31] | 535 | [15],[17],[20],[21],[49] | ||
Fair Value | $ (40) | [12],[14],[18],[19],[31] | $ 536 | [15],[17],[20],[21],[49] | ||
Percentage of Net Assets | 0% | [12],[14],[18],[19],[31] | 0% | [15],[17],[20],[21],[49] | ||
Investment, Identifier [Axis]: Patriot Holdings SCSp (dba Corza Health, Inc.), Class A Units | ||||||
Schedule of Investments [Line Items] | ||||||
Interest, PIK | 800% | [12],[14],[18],[23],[38] | 8% | [15],[17],[20],[25],[39] | ||
Amortized Cost | $ 1,627 | [12],[14],[18],[23] | $ 1,595 | [15],[17],[20],[25],[39] | ||
Fair Value | $ 1,595 | [12],[14],[18],[23] | $ 1,615 | [15],[17],[20],[25],[39] | ||
Percentage of Net Assets | 10% | [12],[14],[18],[23] | 10% | [15],[17],[20],[25],[39] | ||
Investment Owned, Balance, Shares | 1,370 | [12],[14],[18],[23] | 1,370 | [15],[17],[20],[25],[39] | ||
Investment, Identifier [Axis]: Patriot Holdings SCSp (dba Corza Health, Inc.), Class B Units | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 0 | [12],[14],[18],[22],[23] | $ 0 | [15],[17],[20],[24],[25] | ||
Fair Value | $ 214 | [12],[14],[18],[22],[23] | $ 221 | [15],[17],[20],[24],[25] | ||
Percentage of Net Assets | 0% | [12],[14],[18],[22],[23] | 0% | [15],[17],[20],[24],[25] | ||
Investment Owned, Balance, Shares | 18,864 | [12],[14],[18],[22],[23] | 18,864 | [15],[17],[20],[24],[25] | ||
Investment, Identifier [Axis]: Peraton Corp., Second lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 7.75% | [12],[37],[50] | 7.75% | [15],[29],[41] | ||
Par / Units | $ 14,562 | [12],[37],[50] | $ 14,562 | [15],[29],[41] | ||
Amortized Cost | 14,386 | [12],[37],[50] | 14,381 | [15],[29],[41] | ||
Fair Value | $ 14,125 | [12],[37],[50] | $ 13,798 | [15],[29],[41] | ||
Percentage of Net Assets | 110% | [12],[37],[50] | 110% | [15],[29],[41] | ||
Investment, Identifier [Axis]: Peter C. Foy & Associates Insurance Services, LLC (dba PCF Insurance Services), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6% | [12],[26] | 6% | [15],[27] | ||
Par / Units | $ 22,596 | [12],[26] | $ 22,653 | [15],[27] | ||
Amortized Cost | 22,414 | [12],[26] | 22,465 | [15],[27] | ||
Fair Value | $ 22,596 | [12],[26] | $ 22,597 | [15],[27] | ||
Percentage of Net Assets | 180% | [12],[26] | 170% | [15],[27] | ||
Investment, Identifier [Axis]: Peter C. Foy & Associates Insurance Services, LLC (dba PCF Insurance Services), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6% | [12],[18],[19],[31] | 6% | [15],[20],[21],[35] | ||
Par / Units | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | (8) | [12],[18],[19],[31] | (8) | [15],[20],[21],[35] | ||
Fair Value | $ 0 | [12],[18],[19],[31] | $ (3) | [15],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[31] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: Phoenix Newco, Inc. (dba Parexel), Second lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | [12],[13],[18] | 6.50% | ||||
Par / Units | [12],[13],[18] | $ 35,000 | ||||
Amortized Cost | [12],[13],[18] | 34,695 | ||||
Fair Value | [12],[13],[18] | $ 34,650 | ||||
Percentage of Net Assets | [12],[13],[18] | 270% | ||||
Investment, Identifier [Axis]: Plasma Buyer LLC (dba PathGroup), First lien senior secured delayed draw term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.75% | [12],[18],[19],[30],[31] | 5.75% | [15],[20],[21],[35],[48] | ||
Par / Units | $ 0 | [12],[18],[19],[30],[31] | $ 0 | [15],[20],[21],[35],[48] | ||
Amortized Cost | (2) | [12],[18],[19],[30],[31] | (2) | [15],[20],[21],[35],[48] | ||
Fair Value | $ (1) | [12],[18],[19],[30],[31] | $ (1) | [15],[20],[21],[35],[48] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[30],[31] | 0% | [15],[20],[21],[35],[48] | ||
Investment, Identifier [Axis]: Plasma Buyer LLC (dba PathGroup), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.75% | [12],[18],[37] | 5.75% | [15],[20],[33] | ||
Par / Units | $ 677 | [12],[18],[37] | $ 679 | [15],[20],[33] | ||
Amortized Cost | 665 | [12],[18],[37] | 666 | [15],[20],[33] | ||
Fair Value | $ 667 | [12],[18],[37] | $ 667 | [15],[20],[33] | ||
Percentage of Net Assets | 10% | [12],[18],[37] | 10% | [15],[20],[33] | ||
Investment, Identifier [Axis]: Plasma Buyer LLC (dba PathGroup), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.75% | [12],[18],[19],[31] | 5.75% | [15],[20],[21],[35] | ||
Par / Units | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | (1) | [12],[18],[19],[31] | (1) | [15],[20],[21],[35] | ||
Fair Value | $ (1) | [12],[18],[19],[31] | $ (1) | [15],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[31] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: Pluralsight, LLC, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 8% | [12],[28] | 8% | [15],[16] | ||
Par / Units | $ 20,640 | [12],[28] | $ 20,640 | [15],[16] | ||
Amortized Cost | 20,481 | [12],[28] | 20,440 | [15],[16] | ||
Fair Value | $ 20,331 | [12],[28] | $ 20,331 | [15],[16] | ||
Percentage of Net Assets | 160% | [12],[28] | 160% | [15],[16] | ||
Investment, Identifier [Axis]: Pluralsight, LLC, First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 8% | [12],[18],[19],[28] | 8% | [15],[20],[21],[29] | ||
Par / Units | $ 647 | [12],[18],[19],[28] | $ 647 | [15],[20],[21],[29] | ||
Amortized Cost | 638 | [12],[18],[19],[28] | 634 | [15],[20],[21],[29] | ||
Fair Value | $ 628 | [12],[18],[19],[28] | $ 628 | [15],[20],[21],[29] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[28] | 0% | [15],[20],[21],[29] | ||
Investment, Identifier [Axis]: Pregis Topco LLC, Second lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 7.06% | [12],[13] | 7.06% | [15],[29] | ||
Par / Units | $ 30,000 | [12],[13] | $ 30,000 | [15],[29] | ||
Amortized Cost | 29,573 | [12],[13] | 29,562 | [15],[29] | ||
Fair Value | $ 29,770 | [12],[13] | $ 29,695 | [15],[29] | ||
Percentage of Net Assets | 230% | [12],[13] | 230% | [15],[29] | ||
Investment, Identifier [Axis]: Premier Imaging, LLC (dba LucidHealth), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6% | [12],[13] | 5.75% | [15],[29] | ||
Par / Units | $ 7,577 | [12],[13] | $ 7,588 | [15],[29] | ||
Amortized Cost | 7,525 | [12],[13] | 7,529 | [15],[29] | ||
Fair Value | $ 7,501 | [12],[13] | $ 7,493 | [15],[29] | ||
Percentage of Net Assets | 60% | [12],[13] | 60% | [15],[29] | ||
Investment, Identifier [Axis]: Project Alpine Co-Invest Fund, LP, LP Interest | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 1,001 | [12],[14],[18],[22],[23] | $ 1,001 | [15],[17],[20],[24],[25] | ||
Fair Value | $ 1,000 | [12],[14],[18],[22],[23] | $ 1,000 | [15],[17],[20],[24],[25] | ||
Percentage of Net Assets | 10% | [12],[14],[18],[22],[23] | 10% | [15],[17],[20],[24],[25] | ||
Investment Owned, Balance, Shares | 1,000 | [12],[14],[18],[22],[23] | 1,000 | [15],[17],[20],[24],[25] | ||
Investment, Identifier [Axis]: Project Power Buyer, LLC (dba PEC-Veriforce), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 7% | [37] | 6% | [15],[29] | ||
Par / Units | $ 7,856 | [12],[37] | $ 7,876 | [15],[29] | ||
Amortized Cost | 7,800 | [12],[37] | 7,816 | [15],[29] | ||
Fair Value | $ 7,738 | [12],[37] | $ 7,876 | [15],[29] | ||
Percentage of Net Assets | 60% | [12],[37] | 60% | [15],[29] | ||
Investment, Identifier [Axis]: Project Power Buyer, LLC (dba PEC-Veriforce), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 7% | [19],[31] | 6% | [15],[20],[21],[35] | ||
Par / Units | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | (2) | [12],[18],[19],[31] | (3) | [15],[20],[21],[35] | ||
Fair Value | $ (8) | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[31] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: Proofpoint, Inc., Second lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.25% | [12],[13],[18] | 6.25% | [15],[16],[20] | ||
Par / Units | $ 4,900 | [12],[13],[18] | $ 4,900 | [15],[16],[20] | ||
Amortized Cost | 4,879 | [12],[13],[18] | 4,879 | [15],[16],[20] | ||
Fair Value | $ 4,606 | [12],[13],[18] | $ 4,692 | [15],[16],[20] | ||
Percentage of Net Assets | 40% | [12],[13],[18] | 40% | [15],[16],[20] | ||
Investment, Identifier [Axis]: QAD, Inc., First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6% | [12],[13],[18] | 6% | [15],[20],[29] | ||
Par / Units | $ 4,384 | [12],[13],[18] | $ 4,395 | [15],[20],[29] | ||
Amortized Cost | 4,314 | [12],[13],[18] | 4,321 | [15],[20],[29] | ||
Fair Value | $ 4,286 | [12],[13],[18] | $ 4,285 | [15],[20],[29] | ||
Percentage of Net Assets | 30% | [12],[13],[18] | 30% | [15],[20],[29] | ||
Investment, Identifier [Axis]: QAD, Inc., First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6% | [12],[18],[19],[31] | 6% | [15],[20],[21],[35] | ||
Par / Units | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | (9) | [12],[18],[19],[31] | (9) | [15],[20],[21],[35] | ||
Fair Value | $ (13) | [12],[18],[19],[31] | $ (14) | [15],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[31] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: Quva Pharma, Inc., First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.50% | [12],[28] | 5.50% | [15],[16] | ||
Par / Units | $ 11,641 | [12],[28] | $ 11,671 | [15],[16] | ||
Amortized Cost | 11,372 | [12],[28] | 11,391 | [15],[16] | ||
Fair Value | $ 11,466 | [12],[28] | $ 11,437 | [15],[16] | ||
Percentage of Net Assets | 90% | [12],[28] | 90% | [15],[16] | ||
Investment, Identifier [Axis]: Quva Pharma, Inc., First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.50% | [12],[18],[19],[28] | 5.50% | [15],[20],[21] | ||
Par / Units | $ 780 | [12],[18],[19],[28] | $ 567 | [15],[16],[20],[21] | ||
Amortized Cost | 759 | [12],[18],[19],[28] | 544 | [15],[16],[20],[21] | ||
Fair Value | $ 762 | [12],[18],[19],[28] | $ 544 | [15],[16],[20],[21] | ||
Percentage of Net Assets | 10% | [12],[18],[19],[28] | 0% | [15],[16],[20],[21] | ||
Investment, Identifier [Axis]: REALPAGE, INC., Second lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.50% | [50] | 6.50% | |||
Par / Units | $ 6,500 | [12],[13],[50] | $ 6,500 | [15],[20],[29] | ||
Amortized Cost | 6,421 | [12],[13],[50] | 6,419 | [15],[20],[29] | ||
Fair Value | $ 6,118 | [12],[13],[50] | $ 6,224 | [15],[20],[29] | ||
Percentage of Net Assets | 50% | [12],[13],[50] | 50% | [15],[20],[29] | ||
Investment, Identifier [Axis]: RL Datix Holdings (USA), Inc., First lien senior secured USD term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 4.50% | [12],[14],[18],[47] | 4.50% | [15],[17],[20],[36] | ||
Par / Units | $ 10,000 | [12],[14],[18],[47] | $ 10,000 | [15],[17],[20],[36] | ||
Amortized Cost | 9,840 | [12],[14],[18],[47] | 9,831 | [15],[17],[20],[36] | ||
Fair Value | $ 9,875 | [12],[14],[18],[47] | $ 9,825 | [15],[17],[20],[36] | ||
Percentage of Net Assets | 80% | [12],[14],[18],[47] | 80% | [15],[17],[20],[36] | ||
Investment, Identifier [Axis]: RL Datix Holdings (USA), Inc., Second lien senior secured USD term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 7.75% | [12],[14],[18],[47] | 7.75% | [15],[17],[20],[36] | ||
Par / Units | $ 5,000 | [12],[14],[18],[47] | $ 5,000 | [15],[17],[20],[36] | ||
Amortized Cost | 4,920 | [12],[14],[18],[47] | 4,915 | [15],[17],[20],[36] | ||
Fair Value | $ 4,950 | [12],[14],[18],[47] | $ 4,925 | [15],[17],[20],[36] | ||
Percentage of Net Assets | 40% | [12],[14],[18],[47] | 40% | [15],[17],[20],[36] | ||
Investment, Identifier [Axis]: Relativity ODA LLC, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest, PIK | 750% | [12],[13] | 7.50% | [15],[29] | ||
Par / Units | $ 17,123 | [12],[13] | $ 16,946 | [15],[29] | ||
Amortized Cost | 16,960 | [12],[13] | 16,775 | [15],[29] | ||
Fair Value | $ 17,122 | [12],[13] | $ 16,903 | [15],[29] | ||
Percentage of Net Assets | 120% | [12],[13] | 120% | [15],[29] | ||
Investment, Identifier [Axis]: Relativity ODA LLC, First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.50% | [12],[18],[19],[31] | 6.50% | [15],[20],[21],[35] | ||
Par / Units | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | (15) | [12],[18],[19],[31] | (16) | [15],[20],[21],[35] | ||
Fair Value | $ 0 | [12],[18],[19],[31] | $ (4) | [15],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[31] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: Rhea Acquisition Holdings, LP, Series A-2 Units | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 119 | [12],[18],[22],[23] | $ 119 | [15],[20],[24],[25] | ||
Fair Value | $ 119 | [12],[18],[22],[23] | $ 119 | [15],[20],[24],[25] | ||
Percentage of Net Assets | 0% | [12],[18],[22],[23] | 0% | [15],[20],[24],[25] | ||
Investment Owned, Balance, Shares | 119,048 | [12],[18],[22],[23] | 119,048 | [15],[20],[24],[25] | ||
Investment, Identifier [Axis]: Rhea Parent, Inc., First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.75% | [12],[18],[37] | 5.75% | [15],[20],[49] | ||
Par / Units | $ 768 | [12],[18],[37] | $ 770 | [15],[20],[49] | ||
Amortized Cost | 755 | [12],[18],[37] | 756 | [15],[20],[49] | ||
Fair Value | $ 756 | [12],[18],[37] | $ 753 | [15],[20],[49] | ||
Percentage of Net Assets | 10% | [12],[18],[37] | 10% | [15],[20],[49] | ||
Investment, Identifier [Axis]: SWK BUYER, Inc. (dba Stonewall Kitchen), First lien senior secured delayed draw term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.25% | [12],[18],[19],[30],[31] | 5.25% | [15],[20],[21],[35],[48] | ||
Par / Units | $ 0 | [12],[18],[19],[30],[31] | $ 0 | [15],[20],[21],[35],[48] | ||
Amortized Cost | (1) | [12],[18],[19],[30],[31] | (2) | [15],[20],[21],[35],[48] | ||
Fair Value | $ (4) | [12],[18],[19],[30],[31] | $ (4) | [15],[20],[21],[35],[48] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[30],[31] | 0% | [15],[20],[21],[35],[48] | ||
Investment, Identifier [Axis]: SWK BUYER, Inc. (dba Stonewall Kitchen), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.25% | [12],[18],[35] | 5.25% | [15],[20],[36] | ||
Par / Units | $ 749 | [12],[18],[35] | $ 751 | [15],[20],[36] | ||
Amortized Cost | 736 | [12],[18],[35] | 737 | [15],[20],[36] | ||
Fair Value | $ 723 | [12],[18],[35] | $ 728 | [15],[20],[36] | ||
Percentage of Net Assets | 10% | [12],[18],[35] | 10% | [15],[20],[36] | ||
Investment, Identifier [Axis]: SWK BUYER, Inc. (dba Stonewall Kitchen), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.25% | [12],[18],[19],[47] | 5.25% | [15],[20],[21],[33] | ||
Par / Units | $ 40 | [12],[18],[19],[47] | $ 25 | [15],[20],[21],[33] | ||
Amortized Cost | 39 | [12],[18],[19],[47] | 23 | [15],[20],[21],[33] | ||
Fair Value | $ 38 | [12],[18],[19],[47] | $ 22 | [15],[20],[21],[33] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[47] | 0% | [15],[20],[21],[33] | ||
Investment, Identifier [Axis]: Safety Products/JHC Acquisition Corp. (dba Justrite Safety Group), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 4.50% | [12],[32] | 4.50% | [15],[29] | ||
Par / Units | $ 3,436 | [12],[32] | $ 3,445 | [15],[29] | ||
Amortized Cost | 3,419 | [12],[32] | 3,427 | [15],[29] | ||
Fair Value | $ 3,376 | [12],[32] | $ 3,368 | [15],[29] | ||
Percentage of Net Assets | 30% | [12],[32] | 30% | [15],[29] | ||
Investment, Identifier [Axis]: Sara Lee Frozen Bakery, LLC (fka KSLB Holdings, LLC), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 4.50% | [12],[32] | 4.50% | [15],[16] | ||
Par / Units | $ 4,811 | [12],[32] | $ 4,836 | [15],[16] | ||
Amortized Cost | 4,775 | [12],[32] | 4,796 | [15],[16] | ||
Fair Value | $ 4,522 | [12],[32] | $ 4,521 | [15],[16] | ||
Percentage of Net Assets | 40% | [12],[32] | 30% | [15],[16] | ||
Investment, Identifier [Axis]: Sara Lee Frozen Bakery, LLC (fka KSLB Holdings, LLC), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 4.50% | [12],[18],[19],[28] | 4.50% | [15],[16],[20],[21] | ||
Par / Units | $ 847 | [12],[18],[19],[28] | $ 780 | [15],[16],[20],[21] | ||
Amortized Cost | 845 | [12],[18],[19],[28] | 777 | [15],[16],[20],[21] | ||
Fair Value | $ 787 | [12],[18],[19],[28] | $ 715 | [15],[16],[20],[21] | ||
Percentage of Net Assets | 10% | [12],[18],[19],[28] | 10% | [15],[16],[20],[21] | ||
Investment, Identifier [Axis]: Securonix, Inc., First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.50% | [12],[18],[37] | 6.50% | [15],[20],[49] | ||
Par / Units | $ 847 | [12],[18],[37] | $ 847 | [15],[20],[49] | ||
Amortized Cost | 840 | [12],[18],[37] | 840 | [15],[20],[49] | ||
Fair Value | $ 835 | [12],[18],[37] | $ 839 | [15],[20],[49] | ||
Percentage of Net Assets | 10% | [12],[18],[37] | 10% | [15],[20],[49] | ||
Investment, Identifier [Axis]: Securonix, Inc., First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.50% | [12],[18],[19],[31] | 6.50% | [15],[20],[21],[35] | ||
Par / Units | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | (1) | [12],[18],[19],[31] | (1) | [15],[20],[21],[35] | ||
Fair Value | $ (2) | [12],[18],[19],[31] | $ (2) | [15],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[31] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: Shearer's Foods, LLC, Second lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 7.75% | [12],[13] | 7.75% | [15],[29] | ||
Par / Units | $ 40,000 | [12],[13] | $ 48,000 | [15],[29] | ||
Amortized Cost | 39,700 | [12],[13] | 47,629 | [15],[29] | ||
Fair Value | $ 39,900 | [12],[13] | $ 47,760 | [15],[29] | ||
Percentage of Net Assets | 310% | [12],[13] | 370% | [15],[29] | ||
Investment, Identifier [Axis]: SimpliSafe Holding Corporation, First lien senior secured delayed draw term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.25% | [12],[18],[19],[30],[31] | 6.25% | [15],[20],[21],[35],[48] | ||
Par / Units | $ 0 | [12],[18],[19],[30],[31] | $ 0 | [15],[20],[21],[35],[48] | ||
Amortized Cost | (1) | [12],[18],[19],[30],[31] | (1) | [15],[20],[21],[35],[48] | ||
Fair Value | $ 0 | [12],[18],[19],[30],[31] | $ 0 | [15],[20],[21],[35],[48] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[30],[31] | 0% | [15],[20],[21],[35],[48] | ||
Investment, Identifier [Axis]: SimpliSafe Holding Corporation, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.25% | [12],[18],[32] | 6.25% | [15],[20],[33] | ||
Par / Units | $ 819 | [12],[18],[32] | $ 819 | [15],[20],[33] | ||
Amortized Cost | 805 | [12],[18],[32] | 804 | [15],[20],[33] | ||
Fair Value | $ 813 | [12],[18],[32] | $ 809 | [15],[20],[33] | ||
Percentage of Net Assets | 10% | [12],[18],[32] | 10% | [15],[20],[33] | ||
Investment, Identifier [Axis]: Smarsh Inc., First lien senior secured delayed draw term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.50% | [12],[18],[19],[30],[47] | 6.50% | [15],[20],[21],[36],[48] | ||
Par / Units | $ 95 | [12],[18],[19],[30],[47] | $ 95 | [15],[20],[21],[36],[48] | ||
Amortized Cost | 94 | [12],[18],[19],[30],[47] | 93 | [15],[20],[21],[36],[48] | ||
Fair Value | $ 95 | [12],[18],[19],[30],[47] | $ 94 | [15],[20],[21],[36],[48] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[30],[47] | 0% | [15],[20],[21],[36],[48] | ||
Investment, Identifier [Axis]: Smarsh Inc., First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.50% | [47] | 6.50% | [15],[20],[36] | ||
Par / Units | $ 762 | [12],[18],[47] | $ 762 | [15],[20],[36] | ||
Amortized Cost | 755 | [12],[18],[47] | 755 | [15],[20],[36] | ||
Fair Value | $ 758 | [12],[18],[47] | $ 754 | [15],[20],[36] | ||
Percentage of Net Assets | 10% | [12],[18],[47] | 10% | [15],[20],[36] | ||
Investment, Identifier [Axis]: Smarsh Inc., First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.50% | [12],[18],[19],[37] | 6.50% | [15],[20],[21] | ||
Par / Units | $ 2 | [12],[18],[19],[37] | $ 0 | [15],[20],[21] | ||
Amortized Cost | 1 | [12],[18],[19],[37] | 0 | [15],[20],[21] | ||
Fair Value | $ 1 | [12],[18],[19],[37] | $ 0 | [15],[20],[21] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[37] | 0% | [15],[20],[21] | ||
Investment, Identifier [Axis]: Sonny's Enterprises LLC, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.75% | [12],[37] | 6.75% | [15],[49] | ||
Par / Units | $ 44,274 | [12],[37] | $ 44,387 | [15],[49] | ||
Amortized Cost | 43,785 | [12],[37] | 43,865 | [15],[49] | ||
Fair Value | $ 44,274 | [12],[37] | $ 44,387 | [15],[49] | ||
Percentage of Net Assets | 340% | [12],[37] | 340% | [15],[49] | ||
Investment, Identifier [Axis]: Sonny's Enterprises LLC, First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.75% | [12],[18],[19],[31] | 6.75% | [15],[20],[21],[35] | ||
Par / Units | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | (25) | [12],[18],[19],[31] | (27) | [15],[20],[21],[35] | ||
Fair Value | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[31] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: Sunshine Software Holdings, Inc. (dba Cornerstone OnDemand), Series A Preferred Stock | ||||||
Schedule of Investments [Line Items] | ||||||
Interest, PIK | 1,050% | [12],[18],[23],[38] | 10.50% | [15],[20],[25],[39] | ||
Amortized Cost | $ 6,107 | [12],[18],[23],[38] | $ 5,791 | [15],[20],[25],[39] | ||
Fair Value | $ 5,636 | [12],[18],[23],[38] | $ 5,353 | [15],[20],[25],[39] | ||
Percentage of Net Assets | 40% | [12],[18],[23],[38] | 40% | [15],[20],[25],[39] | ||
Investment Owned, Balance, Shares | 5,500 | [12],[18],[23],[38] | 5,500 | [15],[20],[25],[39] | ||
Investment, Identifier [Axis]: Swipe Acquisition Corporation (dba PLI) | ||||||
Schedule of Investments [Line Items] | ||||||
Fair Value | $ 20,027 | $ 20,047 | $ 13,398 | |||
Investment, Identifier [Axis]: Swipe Acquisition Corporation (dba PLI), First lien senior secured delayed draw term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 8% | [12],[18],[19],[30],[37],[59] | 8% | [15],[20],[21],[48],[49],[60] | ||
Par / Units | $ 1,810 | [12],[18],[19],[30],[37],[59] | $ 1,822 | [15],[20],[21],[48],[49],[60] | ||
Amortized Cost | 1,810 | [12],[18],[19],[30],[37],[59] | 1,822 | [15],[20],[21],[48],[49],[60] | ||
Fair Value | $ 1,810 | [12],[18],[19],[30],[37],[59] | $ 1,816 | [15],[20],[21],[48],[49],[60] | ||
Percentage of Net Assets | 10% | [12],[18],[19],[30],[37],[59] | 10% | [15],[20],[21],[48],[49],[60] | ||
Investment, Identifier [Axis]: Swipe Acquisition Corporation (dba PLI), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 8% | [12],[18],[37],[59] | 8% | [15],[20],[33],[60] | ||
Par / Units | $ 6,078 | [12],[18],[37],[59] | $ 6,120 | [15],[20],[33],[60] | ||
Amortized Cost | 6,032 | [12],[18],[37],[59] | 6,065 | [15],[20],[33],[60] | ||
Fair Value | $ 6,078 | [12],[18],[37],[59] | $ 6,105 | [15],[20],[33],[60] | ||
Percentage of Net Assets | 50% | [12],[18],[37],[59] | 60% | [15],[20],[33],[60] | ||
Investment, Identifier [Axis]: Swipe Acquisition Corporation (dba PLI), Letter of Credit | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 8% | [12],[18],[19],[59] | 8% | [15],[20],[21],[60] | ||
Par / Units | $ 0 | [12],[18],[19],[59] | $ 0 | [15],[20],[21],[60] | ||
Amortized Cost | 0 | [12],[18],[19],[59] | 0 | [15],[20],[21],[60] | ||
Fair Value | $ 0 | [12],[18],[19],[59] | $ 0 | [15],[20],[21],[60] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[59] | 0% | [15],[20],[21],[60] | ||
Investment, Identifier [Axis]: THG Acquisition, LLC (dba Hilb), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.75% | [12],[13] | 5.75% | [15],[29] | ||
Par / Units | $ 24,850 | [12],[13] | $ 24,915 | [15],[29] | ||
Amortized Cost | 24,489 | [12],[13] | 24,531 | [15],[29] | ||
Fair Value | $ 24,602 | [12],[13] | $ 24,603 | [15],[29] | ||
Percentage of Net Assets | 190% | [12],[13] | 190% | [15],[29] | ||
Investment, Identifier [Axis]: THG Acquisition, LLC (dba Hilb), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.75% | [12],[13],[18],[19] | 5.75% | [15],[20],[21],[35] | ||
Par / Units | $ 312 | [12],[13],[18],[19] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | 291 | [12],[13],[18],[19] | (23) | [15],[20],[21],[35] | ||
Fair Value | $ 293 | [12],[13],[18],[19] | $ (23) | [15],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[13],[18],[19] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: Tahoe Finco, LLC, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6% | [12],[13],[14],[18] | 6% | [15],[17],[20],[29] | ||
Par / Units | $ 23,256 | [12],[13],[14],[18] | $ 23,256 | [15],[17],[20],[29] | ||
Amortized Cost | 23,063 | [12],[13],[14],[18] | 23,056 | [15],[17],[20],[29] | ||
Fair Value | $ 22,965 | [12],[13],[14],[18] | $ 22,849 | [15],[17],[20],[29] | ||
Percentage of Net Assets | 180% | [12],[13],[14],[18] | 180% | [15],[17],[20],[29] | ||
Investment, Identifier [Axis]: Tahoe Finco, LLC, First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6% | [12],[14],[18],[19],[31] | 6% | [15],[17],[20],[21],[35] | ||
Par / Units | $ 0 | [12],[14],[18],[19],[31] | $ 0 | [15],[17],[20],[21],[35] | ||
Amortized Cost | (13) | [12],[14],[18],[19],[31] | (14) | [15],[17],[20],[21],[35] | ||
Fair Value | $ (22) | [12],[14],[18],[19],[31] | $ (31) | [15],[17],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[14],[18],[19],[31] | 0% | [15],[17],[20],[21],[35] | ||
Investment, Identifier [Axis]: Tamarack Intermediate, L.L.C. (dba Verisk 3E), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.50% | [12],[18],[37] | 5.75% | [15],[20],[36] | ||
Par / Units | $ 680 | [12],[18],[37] | $ 682 | [15],[20],[36] | ||
Amortized Cost | 668 | [12],[18],[37] | 670 | [15],[20],[36] | ||
Fair Value | $ 672 | [12],[18],[37] | $ 668 | [15],[20],[36] | ||
Percentage of Net Assets | 10% | [12],[18],[37] | 10% | [15],[20],[36] | ||
Investment, Identifier [Axis]: Tamarack Intermediate, L.L.C. (dba Verisk 3E), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.50% | [12],[18],[19],[37] | 5.75% | [15],[20],[21],[33] | ||
Par / Units | $ 19 | [12],[18],[19],[37] | $ 20 | [15],[20],[21],[33] | ||
Amortized Cost | 17 | [12],[18],[19],[37] | 18 | [15],[20],[21],[33] | ||
Fair Value | $ 17 | [12],[18],[19],[37] | $ 18 | [15],[20],[21],[33] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[37] | 0% | [15],[20],[21],[33] | ||
Investment, Identifier [Axis]: Tempo Buyer Corp. (dba Global Claims Services), First lien senior secured delayed draw term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.50% | [12],[18],[19],[30],[31] | 5.50% | [15],[20],[21],[35],[48] | ||
Par / Units | $ 0 | [12],[18],[19],[30],[31] | $ 0 | [15],[20],[21],[35],[48] | ||
Amortized Cost | (2) | [12],[18],[19],[30],[31] | (2) | [15],[20],[21],[35],[48] | ||
Fair Value | $ (1) | [12],[18],[19],[30],[31] | $ (3) | [15],[20],[21],[35],[48] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[30],[31] | 0% | [15],[20],[21],[35],[48] | ||
Investment, Identifier [Axis]: Tempo Buyer Corp. (dba Global Claims Services), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.50% | [12],[18],[37] | 5.50% | [15],[16],[20] | ||
Par / Units | $ 694 | [12],[18],[37] | $ 695 | [15],[16],[20] | ||
Amortized Cost | 682 | [12],[18],[37] | 684 | [15],[16],[20] | ||
Fair Value | $ 681 | [12],[18],[37] | $ 678 | [15],[16],[20] | ||
Percentage of Net Assets | 10% | [12],[18],[37] | 10% | [15],[16],[20] | ||
Investment, Identifier [Axis]: Tempo Buyer Corp. (dba Global Claims Services), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 4.50% | [12],[18],[19],[40] | 4.50% | [15],[20],[21],[34] | ||
Par / Units | $ 32 | [12],[18],[19],[40] | $ 8 | [15],[20],[21],[34] | ||
Amortized Cost | 30 | [12],[18],[19],[40] | 6 | [15],[20],[21],[34] | ||
Fair Value | $ 30 | [12],[18],[19],[40] | $ 5 | [15],[20],[21],[34] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[40] | 0% | [15],[20],[21],[34] | ||
Investment, Identifier [Axis]: The Better Being Co., LLC (fka Nutraceutical International Corporation), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | [12],[13] | 7% | ||||
Par / Units | [12],[13] | $ 32,107 | ||||
Amortized Cost | [12],[13] | 31,802 | ||||
Fair Value | [12],[13] | $ 27,371 | ||||
Percentage of Net Assets | [12],[13] | 210% | ||||
Investment, Identifier [Axis]: The Better Being Co., LLC (fka Nutraceutical International Corporation), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | [12],[13],[18] | 7% | ||||
Par / Units | [12],[13],[18] | $ 2,353 | ||||
Amortized Cost | [12],[13],[18] | 2,335 | ||||
Fair Value | [12],[13],[18] | $ 2,006 | ||||
Percentage of Net Assets | [12],[13],[18] | 20% | ||||
Investment, Identifier [Axis]: The Shade Store, LLC, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6% | [12],[18],[37] | 6% | [15],[20],[49] | ||
Par / Units | $ 2,244 | [12],[18],[37] | $ 2,250 | [15],[20],[49] | ||
Amortized Cost | 2,222 | [12],[18],[37] | 2,227 | [15],[20],[49] | ||
Fair Value | $ 2,160 | [12],[18],[37] | $ 2,188 | [15],[20],[49] | ||
Percentage of Net Assets | 20% | [12],[18],[37] | 20% | [15],[20],[49] | ||
Investment, Identifier [Axis]: The Shade Store, LLC, First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6% | [12],[18],[19],[37] | 6% | [15],[20],[21],[49] | ||
Par / Units | $ 159 | [12],[18],[19],[37] | $ 64 | [15],[20],[21],[49] | ||
Amortized Cost | 157 | [12],[18],[19],[37] | 61 | [15],[20],[21],[49] | ||
Fair Value | $ 151 | [12],[18],[19],[37] | $ 57 | [15],[20],[21],[49] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[37] | 0% | [15],[20],[21],[49] | ||
Investment, Identifier [Axis]: Thunder Purchaser, Inc. (dba Vector Solutions), First lien senior secured delayed draw term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.75% | [12],[18],[19],[28],[30] | 5.75% | [15],[16],[20],[21],[48] | ||
Par / Units | $ 839 | [12],[18],[19],[28],[30] | $ 841 | [15],[16],[20],[21],[48] | ||
Amortized Cost | 831 | [12],[18],[19],[28],[30] | 833 | [15],[16],[20],[21],[48] | ||
Fair Value | $ 830 | [12],[18],[19],[28],[30] | $ 809 | [15],[16],[20],[21],[48] | ||
Percentage of Net Assets | 10% | [12],[18],[19],[28],[30] | 10% | [15],[16],[20],[21],[48] | ||
Investment, Identifier [Axis]: Thunder Purchaser, Inc. (dba Vector Solutions), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.75% | [12],[28] | 5.75% | [15],[16] | ||
Par / Units | $ 13,698 | [12],[28] | $ 13,733 | [15],[16] | ||
Amortized Cost | 13,590 | [12],[28] | 13,620 | [15],[16] | ||
Fair Value | $ 13,561 | [12],[28] | $ 13,458 | [15],[16] | ||
Percentage of Net Assets | 110% | [12],[28] | 100% | [15],[16] | ||
Investment, Identifier [Axis]: Thunder Purchaser, Inc. (dba Vector Solutions), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.75% | [12],[18],[19],[28] | 5.75% | [15],[16],[20],[21] | ||
Par / Units | $ 516 | [12],[18],[19],[28] | $ 282 | [15],[16],[20],[21] | ||
Amortized Cost | 511 | [12],[18],[19],[28] | 276 | [15],[16],[20],[21] | ||
Fair Value | $ 508 | [12],[18],[19],[28] | $ 265 | [15],[16],[20],[21] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[28] | 0% | [15],[16],[20],[21] | ||
Investment, Identifier [Axis]: Thunder Topco L.P. (dba Vector Solutions), Common Units | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 820 | [12],[18],[22],[23] | $ 820 | [15],[20],[24],[25] | ||
Fair Value | $ 840 | [12],[18],[22],[23] | $ 810 | [15],[20],[24],[25] | ||
Percentage of Net Assets | 10% | [12],[18],[22],[23] | 10% | [15],[20],[24],[25] | ||
Investment Owned, Balance, Shares | 819,817 | [12],[18],[22],[23] | 819,817 | [15],[20],[24],[25] | ||
Investment, Identifier [Axis]: Tivity Health, Inc., First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6% | [12],[18],[37] | 6% | [15],[20],[49] | ||
Par / Units | $ 995 | [12],[18],[37] | $ 998 | [15],[20],[49] | ||
Amortized Cost | 972 | [12],[18],[37] | 974 | [15],[20],[49] | ||
Fair Value | $ 987 | [12],[18],[37] | $ 982 | [15],[20],[49] | ||
Percentage of Net Assets | 10% | [12],[18],[37] | 10% | [15],[20],[49] | ||
Investment, Identifier [Axis]: Troon Golf, L.L.C., First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.75% | [12],[47] | 5.75% | [15],[27] | ||
Par / Units | $ 60,564 | [12],[47] | $ 60,718 | [15],[27] | ||
Amortized Cost | 60,331 | [12],[47] | 60,474 | [15],[27] | ||
Fair Value | $ 60,564 | [12],[47] | $ 60,718 | [15],[27] | ||
Percentage of Net Assets | 470% | [12],[47] | 470% | [15],[27] | ||
Investment, Identifier [Axis]: Troon Golf, L.L.C., First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.75% | [12],[18],[19],[31] | 5.75% | [15],[20],[21],[35] | ||
Par / Units | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | (16) | [12],[18],[19],[31] | (17) | [15],[20],[21],[35] | ||
Fair Value | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[31] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: USRP Holdings, Inc. (dba U.S. Retirement and Benefits Partners), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.50% | [12],[18],[37] | 5.50% | [15],[16],[20] | ||
Par / Units | $ 1,664 | [12],[18],[37] | $ 1,668 | [15],[16],[20] | ||
Amortized Cost | 1,638 | [12],[18],[37] | 1,641 | [15],[16],[20] | ||
Fair Value | $ 1,643 | [12],[18],[37] | $ 1,635 | [15],[16],[20] | ||
Percentage of Net Assets | 10% | [12],[18],[37] | 10% | [15],[16],[20] | ||
Investment, Identifier [Axis]: USRP Holdings, Inc. (dba U.S. Retirement and Benefits Partners), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.50% | [12],[18],[19],[31] | 5.50% | [15],[20],[21],[35] | ||
Par / Units | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | (3) | [12],[18],[19],[31] | (3) | [15],[20],[21],[35] | ||
Fair Value | $ (2) | [12],[18],[19],[31] | $ (4) | [15],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[31] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: Ultimate Baked Goods Midco, LLC, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.50% | [12],[32] | 6.50% | [15],[29] | ||
Par / Units | $ 16,294 | [12],[32] | $ 16,335 | [15],[29] | ||
Amortized Cost | 15,978 | [12],[32] | 16,004 | [15],[29] | ||
Fair Value | $ 15,968 | [12],[32] | $ 15,845 | [15],[29] | ||
Percentage of Net Assets | 120% | [12],[32] | 120% | [15],[29] | ||
Investment, Identifier [Axis]: Ultimate Baked Goods Midco, LLC, First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6.50% | [12],[18],[19],[32] | 6.50% | [15],[20],[21],[29] | ||
Par / Units | $ 250 | [12],[18],[19],[32] | $ 525 | [15],[20],[21],[29] | ||
Amortized Cost | 214 | [12],[18],[19],[32] | 487 | [15],[20],[21],[29] | ||
Fair Value | $ 210 | [12],[18],[19],[32] | $ 465 | [15],[20],[21],[29] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[32] | 0% | [15],[20],[21],[29] | ||
Investment, Identifier [Axis]: Unified Women's Healthcare, LP, First lien senior secured delayed draw term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.25% | [12],[18],[19],[30] | 5.25% | [15],[20],[21],[48] | ||
Par / Units | $ 0 | [12],[18],[19],[30] | $ 0 | [15],[20],[21],[48] | ||
Amortized Cost | 0 | [12],[18],[19],[30] | 0 | [15],[20],[21],[48] | ||
Fair Value | $ 0 | [12],[18],[19],[30] | $ 0 | [15],[20],[21],[48] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[30] | 0% | [15],[20],[21],[48] | ||
Investment, Identifier [Axis]: Unified Women's Healthcare, LP, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.25% | [12],[18],[32] | 5.25% | [15],[20],[33] | ||
Par / Units | $ 894 | [12],[18],[32] | $ 878 | [15],[20],[33] | ||
Amortized Cost | 888 | [12],[18],[32] | 872 | [15],[20],[33] | ||
Fair Value | $ 894 | [12],[18],[32] | $ 878 | [15],[20],[33] | ||
Percentage of Net Assets | 10% | [12],[18],[32] | 10% | [15],[20],[33] | ||
Investment, Identifier [Axis]: Unified Women's Healthcare, LP, First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.25% | [12],[18],[19],[31] | 5.25% | [15],[20],[21],[35] | ||
Par / Units | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | (1) | [12],[18],[19],[31] | (1) | [15],[20],[21],[35] | ||
Fair Value | $ 0 | [12],[18],[19],[31] | $ 0 | [15],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[31] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: VEPF Torreys Aggregator, LLC (dba MINDBODY, Inc.), Series A Preferred Stock | ||||||
Schedule of Investments [Line Items] | ||||||
Interest, PIK | 600% | [12],[18],[23],[38] | 6% | [15],[20],[25],[39] | ||
Amortized Cost | $ 4,037 | [12],[18],[23],[38] | $ 3,978 | [15],[20],[25],[39] | ||
Fair Value | $ 3,997 | [12],[18],[23],[38] | $ 3,939 | [15],[20],[25],[39] | ||
Percentage of Net Assets | 30% | [12],[18],[23],[38] | 30% | [15],[20],[25],[39] | ||
Investment Owned, Balance, Shares | 3,750 | [12],[18],[23],[38] | 3,750 | [15],[20],[25],[39] | ||
Investment, Identifier [Axis]: Valence Surface Technologies LLC, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 775% | [12],[18],[37] | 7.75% | [15],[20],[49] | ||
Interest, PIK | 388% | [12],[18],[37] | 3.88% | [15],[20],[49] | ||
Par / Units | $ 32,522 | [12],[18],[37] | $ 32,019 | [15],[20],[49] | ||
Amortized Cost | 32,330 | [12],[18],[37] | 31,808 | [15],[20],[49] | ||
Fair Value | $ 26,018 | [12],[18],[37] | $ 25,615 | [15],[20],[49] | ||
Percentage of Net Assets | 200% | [12],[18],[37] | 200% | [15],[20],[49] | ||
Investment, Identifier [Axis]: Valence Surface Technologies LLC, First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 7.75% | [18],[19],[37] | 7.75% | [15],[20],[21],[49] | ||
Par / Units | $ 2,642 | [12],[18],[19],[37] | $ 2,602 | [15],[20],[21],[49] | ||
Amortized Cost | 2,628 | [12],[18],[19],[37] | 2,586 | [15],[20],[21],[49] | ||
Fair Value | $ 2,111 | [12],[18],[19],[37] | $ 2,079 | [15],[20],[21],[49] | ||
Percentage of Net Assets | 20% | [12],[18],[19],[37] | 20% | [15],[20],[21],[49] | ||
Investment, Identifier [Axis]: Velocity HoldCo III Inc. (dba VelocityEHS), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.75% | [12],[18],[26] | 5.75% | [15],[20],[27] | ||
Par / Units | $ 6,025 | [12],[18],[26] | $ 6,040 | [15],[20],[27] | ||
Amortized Cost | 5,926 | [12],[18],[26] | 5,937 | [15],[20],[27] | ||
Fair Value | $ 6,025 | [12],[18],[26] | $ 6,040 | [15],[20],[27] | ||
Percentage of Net Assets | 50% | [12],[18],[26] | 50% | [15],[20],[27] | ||
Investment, Identifier [Axis]: Velocity HoldCo III Inc. (dba VelocityEHS), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.75% | [12],[13],[18],[19] | 5.75% | [15],[20],[21],[29] | ||
Par / Units | $ 74 | [12],[13],[18],[19] | $ 74 | [15],[20],[21],[29] | ||
Amortized Cost | 69 | [12],[13],[18],[19] | 68 | [15],[20],[21],[29] | ||
Fair Value | $ 74 | [12],[13],[18],[19] | $ 74 | [15],[20],[21],[29] | ||
Percentage of Net Assets | 0% | [12],[13],[18],[19] | 0% | [15],[20],[21],[29] | ||
Investment, Identifier [Axis]: Vermont Aus Pty Ltd, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.50% | [12],[14],[18],[37] | 5.50% | [15],[17],[20],[49] | ||
Par / Units | $ 990 | [12],[14],[18],[37] | $ 993 | [15],[17],[20],[49] | ||
Amortized Cost | 969 | [12],[14],[18],[37] | 970 | [15],[17],[20],[49] | ||
Fair Value | $ 973 | [12],[14],[18],[37] | $ 968 | [15],[17],[20],[49] | ||
Percentage of Net Assets | 10% | [12],[14],[18],[37] | 10% | [15],[17],[20],[49] | ||
Investment, Identifier [Axis]: WMC Bidco, Inc. (dba West Monroe), Senior Preferred Stock | ||||||
Schedule of Investments [Line Items] | ||||||
Interest, PIK | 1,125% | [12],[18],[23],[38] | 11.25% | [15],[20],[25],[39] | ||
Amortized Cost | $ 2,653 | [12],[18],[23],[38] | $ 2,577 | [15],[20],[25],[39] | ||
Fair Value | $ 2,558 | [12],[18],[23],[38] | $ 2,461 | [15],[20],[25],[39] | ||
Percentage of Net Assets | 20% | [12],[18],[23],[38] | 20% | [15],[20],[25],[39] | ||
Investment Owned, Balance, Shares | 2,385 | [12],[18],[23],[38] | 2,385 | [15],[20],[25],[39] | ||
Investment, Identifier [Axis]: WU Holdco, Inc. (dba Weiman Products, LLC), First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.50% | [12],[37] | 5.50% | [15],[16] | ||
Par / Units | $ 46,144 | [12],[37] | $ 46,262 | [15],[16] | ||
Amortized Cost | 45,654 | [12],[37] | 45,735 | [15],[16] | ||
Fair Value | $ 44,414 | [12],[37] | $ 45,105 | [15],[16] | ||
Percentage of Net Assets | 330% | [12],[37] | 340% | [15],[16] | ||
Investment, Identifier [Axis]: WU Holdco, Inc. (dba Weiman Products, LLC), First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.50% | [12],[18],[19],[37] | 5.50% | [15],[16],[20],[21] | ||
Par / Units | $ 1,831 | [12],[18],[19],[37] | $ 1,831 | [15],[16],[20],[21] | ||
Amortized Cost | 1,791 | [12],[18],[19],[37] | 1,800 | [15],[16],[20],[21] | ||
Fair Value | $ 1,699 | [12],[18],[19],[37] | $ 1,743 | [15],[16],[20],[21] | ||
Percentage of Net Assets | 10% | [12],[18],[19],[37] | 10% | [15],[16],[20],[21] | ||
Investment, Identifier [Axis]: Walker Edison Furniture Company LLC | ||||||
Schedule of Investments [Line Items] | ||||||
Fair Value | $ 11,144 | $ 0 | ||||
Investment, Identifier [Axis]: Walker Edison Furniture Company LLC, First lien senior secured delayed draw term loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest, PIK | [12],[18],[19],[30],[51],[59] | 675% | ||||
Par / Units | [12],[18],[19],[30],[51],[59] | $ 0 | ||||
Amortized Cost | [12],[18],[19],[30],[51],[59] | 0 | ||||
Fair Value | [12],[18],[19],[30],[51],[59] | $ 0 | ||||
Percentage of Net Assets | [12],[18],[19],[30],[51],[59] | 0% | ||||
Investment, Identifier [Axis]: Walker Edison Furniture Company LLC, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | [15],[16],[20],[52] | 8.75% | ||||
Interest, PIK | 675% | [12],[18],[32],[51],[59] | 3% | [15],[16],[20],[52] | ||
Par / Units | $ 4,223 | [12],[18],[32],[51],[59] | $ 17,233 | [15],[16],[20],[52] | ||
Amortized Cost | 4,129 | [12],[18],[32],[51],[59] | 16,631 | [15],[16],[20],[52] | ||
Fair Value | $ 4,138 | [12],[18],[32],[51],[59] | $ 8,789 | [15],[16],[20],[52] | ||
Percentage of Net Assets | 40% | [12],[18],[32],[51],[59] | 70% | [15],[16],[20],[52] | ||
Investment, Identifier [Axis]: Walker Edison Furniture Company LLC, First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest, PIK | [12],[18],[32],[51],[59] | 625% | ||||
Par / Units | [12],[18],[32],[51],[59] | $ 2,256 | ||||
Amortized Cost | [12],[18],[32],[51],[59] | 2,247 | ||||
Fair Value | [12],[18],[32],[51],[59] | $ 2,256 | ||||
Percentage of Net Assets | [12],[18],[32],[51],[59] | 20% | ||||
Investment, Identifier [Axis]: Walker Edison Holdco LLC, Common Units | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | [12],[18],[22],[23],[59] | $ 4,750 | ||||
Fair Value | [12],[18],[22],[23],[59] | $ 4,750 | ||||
Percentage of Net Assets | [12],[18],[22],[23],[59] | 40% | ||||
Investment Owned, Balance, Shares | [12],[18],[22],[23],[59] | 49,159 | ||||
Investment, Identifier [Axis]: When I Work, Inc., First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest, PIK | 700% | [12],[18],[28] | 7% | [15],[16],[20] | ||
Par / Units | $ 818 | [12],[18],[28] | $ 803 | [15],[16],[20] | ||
Amortized Cost | 811 | [12],[18],[28] | 797 | [15],[16],[20] | ||
Fair Value | $ 803 | [12],[18],[28] | $ 787 | [15],[16],[20] | ||
Percentage of Net Assets | 10% | [12],[18],[28] | 10% | [15],[16],[20] | ||
Investment, Identifier [Axis]: When I Work, Inc., First lien senior secured revolving loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 6% | [19],[28] | 6% | [15],[20],[21],[35] | ||
Par / Units | $ 14 | [12],[18],[19],[28] | $ 0 | [15],[20],[21],[35] | ||
Amortized Cost | 13 | [12],[18],[19],[28] | (1) | [15],[20],[21],[35] | ||
Fair Value | $ 12 | [12],[18],[19],[28] | $ (3) | [15],[20],[21],[35] | ||
Percentage of Net Assets | 0% | [12],[18],[19],[28] | 0% | [15],[20],[21],[35] | ||
Investment, Identifier [Axis]: Windows Entities, LLC Units | ||||||
Schedule of Investments [Line Items] | ||||||
Amortized Cost | $ 20,106 | [12],[14],[18],[23],[61] | $ 20,106 | [15],[17],[20],[25],[62] | ||
Fair Value | $ 40,827 | [12],[14],[18],[23],[61] | $ 40,472 | [15],[17],[20],[25],[62] | ||
Percentage of Net Assets | 320% | [12],[14],[18],[23],[61] | 310% | [15],[17],[20],[25],[62] | ||
Investment Owned, Balance, Shares | 10,616 | [12],[14],[18],[23],[61] | 10,616 | [15],[17],[20],[25],[62] | ||
Investment, Identifier [Axis]: Zenith Energy U.S. Logistics Holdings, LLC, First lien senior secured loan | ||||||
Schedule of Investments [Line Items] | ||||||
Interest | 5.50% | 5.50% | [15],[29] | |||
Par / Units | $ 6,108 | [12],[13] | $ 17,122 | [15],[29] | ||
Amortized Cost | 6,051 | [12],[13] | 16,939 | [15],[29] | ||
Fair Value | $ 6,108 | [12],[13] | $ 17,122 | [15],[29] | ||
Percentage of Net Assets | 50% | [12],[13] | 130% | [15],[29] | ||
[1]As of March 31, 2023, the net estimated unrealized loss for U.S. federal income tax purposes was $13.3 million based on a tax cost basis of $2.2 billion. As of March 31, 2023, the estimated aggregate gross unrealized loss for U.S. federal income tax purposes was $55.0 million and the estimated aggregate gross unrealized gain for U.S. federal income tax purposes was $41.7 million.[2]Certain portfolio company investments are subject to contractual restrictions on sales.[3]The amortized cost represents the original cost adjusted for the accretion and amortization of discounts and premiums, as applicable, on debt investments using the effective interest method.[4]Unless otherwise indicated, all investments are considered Level 3 investments.[5]Unless otherwise indicated, all investments are non-controlled, non-affiliated investments. Non-controlled, non-affiliated investments are defined as investments in which the Company owns less than 5% of the portfolio company’s outstanding voting securities and does not have the power to exercise control over the management or policies of such portfolio company.[6]Unless otherwise indicated, all or a portion of the Company’s portfolio companies are pledged as collateral supporting the available capacity under the SPV Asset Facilities. See Note 6 “Debt.”[7]As of December 31, 2022, the net estimated unrealized loss for U.S. federal income tax purposes was $21.5 million based on a tax cost basis of $2.3 billion. As of December 31, 2022, the estimated aggregate gross unrealized loss for U.S. federal income tax purposes was $61.9 million and the estimated aggregate gross unrealized gain for U.S. federal income tax purposes was $40.4 million.[8]Certain portfolio company investments are subject to contractual restrictions on sales.[9]Unless otherwise indicated, all investments are considered Level 3 investments.[10]Unless otherwise indicated, all investments are non-controlled, non-affiliated investments. Non-controlled, non-affiliated investments are defined as investments in which the Company owns less than 5% of the portfolio company’s outstanding voting securities and does not have the power to exercise control over the management or policies of such portfolio company.[11]Unless otherwise indicated, all or a portion of the Company’s portfolio companies are pledged as collateral supporting the available capacity under the SPV Asset Facilities. See Note 6 “Debt.”[12]Represents co-investment made with the Company’s affiliates in accordance with the terms of exemptive relief that the Company received from the U.S. Securities and Exchange Commission. See Note 3 “Agreements and Related Party Transactions.”[13]The interest rate on these loans is subject to 1 month LIBOR, which as of March 31, 2023 was 4.86%.[14]This portfolio company is not a qualifying asset under Section 55(a) of the Investment Company Act of 1940, as amended (the “1940 Act”). Under the 1940 Act, the Company may not acquire any non-qualifying asset unless, at the time such acquisition is made, qualifying assets represent at least 70% of total assets. As of March 31, 2023, non-qualifying assets represented 13.0% of total assets as calculated in accordance with the regulatory requirements.[15]Represents co-investment made with the Company’s affiliates in accordance with the terms of exemptive relief that the Company received from the U.S. Securities and Exchange Commission. See Note 3 “Agreements and Related Party Transactions.”[16]The interest rate on these loans is subject to 3 month LIBOR, which as of December 31, 2022 was 4.77%.[17]This portfolio company is not a qualifying asset under Section 55(a) of the Investment Company Act of 1940, as amended (the “1940 Act”). Under the 1940 Act, the Company may not acquire any non-qualifying asset unless, at the time such acquisition is made, qualifying assets represent at least 70% of total assets. As of December 31, 2022, non-qualifying assets represented 12.9% of total assets as calculated in accordance with the regulatory requirements.[18]Investment is not pledged as collateral for the SPV Asset Facilities.[19]Position or portion thereof is an unfunded loan or equity commitment. See Note 7 “Commitments and Contingencies”.[20]Investment is not pledged as collateral for the SPV Asset Facilities.[21]Position or portion thereof is an unfunded loan or equity commitment. See Note 7 “Commitments and Contingencies”.[22]Investment is non-income producing.[23]Securities acquired in transactions exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”), and may be deemed to be “restricted securities” under the Securities Act. As of March 31, 2023, the aggregate fair value of these securities is $153.0 million, or 11.9% of the Company’s net assets. The acquisition dates of the restricted securities are as follows: Portfolio Company Investment Acquisition Date AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC LLC Interest July 1, 2022 AAM Series 2.1 Aviation Feeder, LLC LLC Interest July 1, 2022 Amergin Asset Management, LLC Class A Units July 1, 2022 ASP Conair Holdings LP Class A Units May 17, 2021 Associations Finance, Inc. Preferred Stock June 10, 2022 BCTO WIW Holdings, Inc. (dba When I Work) Class A Common Stock November 2, 2021 Brooklyn Lender Co-Invest 2, L.P. (dba Boomi) Common Units October 1, 2021 CD&R Value Building Partners I, L.P. (dba Belron) LP Interest December 2, 2021 Denali Holding, LP (dba Summit Companies) Class A Units September 15, 2021 Dodge Construction Network Holdings, L.P. Class A-2 Common Units February 23, 2022 Dodge Construction Network Holdings, L.P. Series A Preferred Units February 23, 2022 Evology, LLC Class B Units January 24, 2022 Evolution Parent, LP (dba SIAA) LP Interest April 30, 2021 Fifth Season Investments LLC Class A Units October 17, 2022 Gloves Holdings, LP (dba Protective Industrial Products) LP Interest December 29, 2020 GrowthCurve Capital Sunrise Co-Invest LP (dba Brightway) LP Interest December 16, 2021 Hercules Buyer, LLC (dba The Vincit Group) Common Units December 15, 2020 H-Food Holdings, LLC LLC Interest November 23, 2018 Hissho Sushi Holdings, LLC Class A units May 17, 2022 Insight CP (Blocker) Holdings, L.P. (dba CivicPlus, LLC) LP Interest June 8, 2022 Knockout Intermediate Holdings I Inc. (dba Kaseya) Perpetual Preferred Stock June 22, 2022 KOBHG Holdings L.P. (dba OB Hospitalist) Class A Interests September 27, 2021 KPCI Holdings, L.P. Class A Units November 30, 2020 LSI Financing 1 DAC Preferred Equity December 14, 2022 Maia Aggregator, LP Class A-2 Units February 1, 2022 MessageBird Holding B.V. Extended Series C Warrants May 5, 2021 Metis HoldCo, Inc. (dba Mavis Tire Express Services) Series A Convertible Preferred Stock May 4, 2021 Minerva Holdco, Inc Series A Preferred Stock February 15, 2022 New PLI Holdings, LLC (dba PLI) Class A Common Units December 23, 2020 Patriot Holdings SCSp (dba Corza Health, Inc.) Class A Units January 29, 2021 Patriot Holdings SCSp (dba Corza Health, Inc.) Class B Units January 29, 2021 PCF Holdco, LLC (dba PCF Insurance Services) Class A Units November 1, 2021 Project Alpine Co-Invest Fund, LP LP Interest June 13, 2022 Rhea Acquisition Holdings, LP Series A-2 Units February 18, 2022 Sunshine Software Holdings, Inc. (dba Cornerstone OnDemand) Series A Preferred Stock October 15, 2021 Thunder Topco L.P. (dba Vector Solutions) Common Units June 30, 2021 VEPF Torreys Aggregator, LLC (dba MINDBODY, Inc.) Series A Preferred Stock October 15, 2021 Walker Edison Furniture Company LLC Common Units March 1, 2023 Portfolio Company Investment Acquisition Date Windows Entities LLC Units January 16, 2020 WMC Bidco, Inc. (dba West Monroe) Senior Preferred Stock November 9, 2021 Portfolio Company Investment Acquisition Date AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC LLC Interest July 1, 2022 AAM Series 2.1 Aviation Feeder, LLC LLC Interest July 1, 2022 Amergin Asset Management, LLC Class A Units July 1, 2022 ASP Conair Holdings LP Class A Units May 17, 2021 Associations Finance, Inc. Preferred Stock June 10, 2022 BCTO WIW Holdings, Inc. (dba When I Work) Class A Common Stock November 2, 2021 Brooklyn Lender Co-Invest 2, L.P. (dba Boomi) Common Units October 1, 2021 CD&R Value Building Partners I, L.P. (dba Belron) LP Interest December 2, 2021 Denali Holding, LP (dba Summit Companies) Class A Units September 15, 2021 Dodge Construction Network Holdings, L.P. Class A-2 Common Units February 23, 2022 Dodge Construction Network Holdings, L.P. Series A Preferred Units February 23, 2022 Evology, LLC Class B Units January 24, 2022 Evolution Parent, LP (dba SIAA) LP Interest April 30, 2021 Fifth Season Investments LLC Class A Units October 17, 2022 Gloves Holdings, LP (dba Protective Industrial Products) LP Interest December 29, 2020 GrowthCurve Capital Sunrise Co-Invest LP (dba Brightway) LP Interest December 16, 2021 Hercules Buyer, LLC (dba The Vincit Group) Common Units December 15, 2020 H-Food Holdings, LLC LLC Interest November 23, 2018 Hissho Sushi Holdings, LLC Class A units May 17, 2022 Insight CP (Blocker) Holdings, L.P. (dba CivicPlus, LLC) LP Interest June 8, 2022 Knockout Intermediate Holdings I Inc. (dba Kaseya) Perpetual Preferred Stock June 22, 2022 KOBHG Holdings L.P. (dba OB Hospitalist) Class A Interests September 27, 2021 KPCI Holdings, L.P. Class A Units November 30, 2020 LSI Financing 1 DAC Preferred Equity December 14, 2022 Maia Aggregator, LP Class A-2 Units February 1, 2022 MessageBird Holding B.V. Extended Series C Warrants May 5, 2021 Metis HoldCo, Inc. (dba Mavis Tire Express Services) Series A Convertible Preferred Stock May 4, 2021 Minerva Holdco, Inc Series A Preferred Stock February 15, 2022 New PLI Holdings, LLC (dba PLI) Class A Common Units December 23, 2020 Patriot Holdings SCSp (dba Corza Health, Inc.) Class A Units January 29, 2021 Patriot Holdings SCSp (dba Corza Health, Inc.) Class B Units January 29, 2021 PCF Holdco, LLC (dba PCF Insurance Services) Class A Units November 1, 2021 Project Alpine Co-Invest Fund, LP LP Interest June 13, 2022 Rhea Acquisition Holdings, LP Series A-2 Units February 18, 2022 Sunshine Software Holdings, Inc. (dba Cornerstone OnDemand) Series A Preferred Stock October 15, 2021 Thunder Topco L.P. (dba Vector Solutions) Common Units June 30, 2021 VEPF Torreys Aggregator, LLC (dba MINDBODY, Inc.) Series A Preferred Stock October 15, 2021 Windows Entities LLC Units January 16, 2020 WMC Bidco, Inc. (dba West Monroe) Senior Preferred Stock November 9, 2021 Under the 1940 Act, the Company is deemed to be an “Affiliated Person” of, as defined in the 1940 Act, this portfolio company, as the Company owns more than 5% of the portfolio company’s outstanding voting securities. Transactions during the three months ended March 31, 2023 in which the Company was an Affiliated Person of the portfolio company are as follows: Company Fair Value at December 31, 2022 Gross Additions (a) Gross Reductions (b) Net Change in Unrealized Gain/(Loss) Realized Gain/(Loss) Transfers Fair Value at March 31, 2023 Other Income Interest Income Dividend Income Swipe Acquisition Corporation (dba PLI) $ 20,047 $ 9 $ (55) $ 26 $ — $ — $ 20,027 $ 48 $ 260 $ 221 Walker Edison Furniture Company LLC — 11,126 — 18 — — 11,144 — — — Total $ 20,047 $ 11,135 $ (55) $ 44 $ — $ — $ 31,171 $ 48 $ 260 $ 221 Under the 1940 Act, the Company is deemed to be an “Affiliated Person” of, as defined in the 1940 Act, this portfolio company, as the Company owns more than 5% of the portfolio company’s outstanding voting securities. Transactions during the year ended December 31, 2022 in which the Company was an Affiliated Person of the portfolio company are as follows: Company Fair Value at December 31, 2021 Gross Additions (a) Gross Reductions (b) Net Change in Unrealized Gain/(Loss) Realized Gain/(Loss) Transfers Fair Value at December 31, 2022 Other Income Interest Income Dividend Income Swipe Acquisition Corporation (dba PLI) $ 13,398 $ 531 $ (110) $ 6,228 $ — $ — $ 20,047 $ 78 $ 838 $ 827 Total $ 13,398 $ 531 $ (110) $ 6,228 $ — $ — $ 20,047 $ 78 $ 838 $ 827 |
Consolidated Schedule of Inve_2
Consolidated Schedule of Investments (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | ||||
Schedule of Investments [Line Items] | ||||||
Non-qualifying assets as a percentage of net assets | 13% | 12.90% | ||||
Restricted investments, fair value | $ 153,000 | $ 144,700 | ||||
Restricted investments as a percentage of net assets | 11.90% | 11.10% | ||||
Non-qualifying asset, fair value | $ 3,100 | $ 3,000 | ||||
Unrealized loss for income tax purposes | 13,300 | 21,500 | ||||
Cost for income tax purposes | 2,200,000 | 2,300,000 | ||||
Unrealized loss for U.S. federal income tax purposes | 55,000 | 61,900 | ||||
Unrealized gain for U.S. federal income tax purposes | 41,700 | 40,400 | ||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [1],[2],[3],[4] | 2,259,492 | ||||
Net Change in Unrealized Gain/(Loss) | 11,058 | $ (12,300) | ||||
Ending balance | 2,231,038 | [5],[6],[7],[8] | 2,259,492 | [1],[2],[3],[4] | ||
Investment income from non-controlled, affiliated investments: | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | 20,047 | 13,398 | 13,398 | |||
Gross Additions | 11,135 | [9] | 531 | [10] | ||
Gross Reductions | (55) | [11] | (110) | [12] | ||
Net Change in Unrealized Gain/(Loss) | 44 | 6,228 | ||||
Realized Gain/(Loss) | 0 | 0 | ||||
Transfers | 0 | 0 | ||||
Ending balance | 31,171 | 20,047 | ||||
Other income | 48 | 20 | 78 | |||
Interest Income | 260 | 838 | ||||
Dividend income | 221 | 0 | 827 | |||
Investment, Identifier [Axis]: 3ES Innovation Inc. (dba Aucerna), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[15] | 10,647 | ||||
Ending balance | 10,673 | [16],[17],[18] | 10,647 | [13],[14],[15] | ||
Investment, Identifier [Axis]: 3ES Innovation Inc. (dba Aucerna), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[15],[19],[20] | 297 | ||||
Ending balance | 300 | [16],[17],[18],[21],[22] | 297 | [13],[14],[15],[19],[20] | ||
Investment, Identifier [Axis]: AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC, LLC Interest | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[19],[20],[23],[24] | 0 | ||||
Ending balance | 0 | [16],[18],[21],[22],[25],[26] | 0 | [13],[15],[19],[20],[23],[24] | ||
Investment, Identifier [Axis]: AAM Series 2.1 Aviation Feeder, LLC, LLC Interest | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[19],[20],[23],[24] | 87 | ||||
Ending balance | 345 | [16],[18],[21],[22],[25],[26] | 87 | [13],[15],[19],[20],[23],[24] | ||
Investment, Identifier [Axis]: ABB/Con-cise Optical Group LLC, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[27] | 897 | ||||
Ending balance | 876 | [16],[21],[28] | 897 | [13],[19],[27] | ||
Investment, Identifier [Axis]: ABB/Con-cise Optical Group LLC, First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[27] | 89 | ||||
Ending balance | 90 | [16],[21],[22],[28] | 89 | [13],[19],[20],[27] | ||
Investment, Identifier [Axis]: ASP Conair Holdings LP, Class A Units | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[23],[24] | 1,153 | ||||
Ending balance | 1,153 | [16],[21],[25],[26] | 1,153 | [13],[19],[23],[24] | ||
Investment, Identifier [Axis]: Access CIG, LLC, Second lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[29] | 24,441 | ||||
Ending balance | 24,502 | [16],[30] | 24,441 | [13],[29] | ||
Investment, Identifier [Axis]: Adenza Group, Inc., First lien senior secured delayed draw term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Ending balance | [16],[21],[22],[31],[32] | 0 | ||||
Investment, Identifier [Axis]: Adenza Group, Inc., First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Ending balance | [16],[17] | 42,481 | ||||
Investment, Identifier [Axis]: Adenza Group, Inc., First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Ending balance | [16],[21],[22],[32] | (35) | ||||
Investment, Identifier [Axis]: Alera Group, Inc., First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[33] | 7,315 | ||||
Ending balance | 7,333 | [16],[34] | 7,315 | [13],[33] | ||
Investment, Identifier [Axis]: AmSpec Group, Inc. (fka AmSpec Services Inc.), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14] | 18,435 | ||||
Ending balance | 18,480 | [16],[28] | 18,435 | [13],[14] | ||
Investment, Identifier [Axis]: AmSpec Group, Inc. (fka AmSpec Services Inc.), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[35] | 505 | ||||
Ending balance | 302 | [16],[21],[22],[28] | 505 | [13],[19],[20],[35] | ||
Investment, Identifier [Axis]: Amergin Asset Management, LLC, Class A Units | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[19],[20],[23],[24] | 0 | ||||
Ending balance | 0 | [16],[18],[21],[22],[25],[26] | 0 | [13],[15],[19],[20],[23],[24] | ||
Investment, Identifier [Axis]: Anaplan, Inc., First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[33] | 13,474 | ||||
Ending balance | 13,508 | [16],[34] | 13,474 | [13],[33] | ||
Investment, Identifier [Axis]: Anaplan, Inc., First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | (2) | ||||
Ending balance | 0 | [16],[21],[22],[32] | (2) | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: Apex Group Treasury, LLC, Second lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[15],[19] | 11,037 | ||||
Ending balance | 11,269 | [16],[18],[21],[30] | 11,037 | [13],[14],[15],[19] | ||
Investment, Identifier [Axis]: Apex Service Partners, LLC, First lien senior secured delayed draw term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[37] | 989 | ||||
Ending balance | [13],[19],[37] | 989 | ||||
Investment, Identifier [Axis]: Apex Service Partners, LLC, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Ending balance | [16],[21],[38] | 989 | ||||
Investment, Identifier [Axis]: Apex Service Partners, LLC, First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[37] | 31 | ||||
Ending balance | 25 | [16],[21],[22],[30] | 31 | [13],[19],[20],[37] | ||
Investment, Identifier [Axis]: Apptio, Inc., First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19] | 7,364 | ||||
Ending balance | 7,364 | [16],[21],[30] | 7,364 | [13],[14],[19] | ||
Investment, Identifier [Axis]: Apptio, Inc., First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19],[20] | 294 | ||||
Ending balance | 441 | [16],[21],[22],[30] | 294 | [13],[14],[19],[20] | ||
Investment, Identifier [Axis]: Aptive Environmental, LLC, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[39] | 2,751 | ||||
Ending balance | 2,871 | [16],[21],[40] | 2,751 | [13],[19],[39] | ||
Investment, Identifier [Axis]: Aramsco, Inc., First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[29] | 10,170 | ||||
Ending balance | 10,143 | [16],[17] | 10,170 | [13],[29] | ||
Investment, Identifier [Axis]: Aramsco, Inc., First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[29] | 206 | ||||
Ending balance | 623 | [16],[21],[22],[41] | 206 | [13],[19],[20],[29] | ||
Investment, Identifier [Axis]: Ardonagh Midco 2 PLC, Unsecured notes | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[19],[39],[42] | 569 | ||||
Ending balance | 584 | [16],[18],[21],[40] | 569 | [13],[15],[19],[39],[42] | ||
Investment, Identifier [Axis]: Ardonagh Midco 3 PLC, First lien senior secured EUR term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[19],[43] | 523 | ||||
Ending balance | 534 | [16],[18],[21],[44] | 523 | [13],[15],[19],[43] | ||
Investment, Identifier [Axis]: Ardonagh Midco 3 PLC, First lien senior secured GBP delayed draw term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[19],[45] | 523 | ||||
Ending balance | 0 | [16],[18],[21] | 523 | [13],[15],[19],[45] | ||
Investment, Identifier [Axis]: Ardonagh Midco 3 PLC, First lien senior secured GBP term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[19],[46] | 5,604 | ||||
Ending balance | 6,300 | [16],[18],[21],[47] | 5,604 | [13],[15],[19],[46] | ||
Investment, Identifier [Axis]: Ardonagh Midco 3 PLC, First lien senior secured USD term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[19],[27] | 1,429 | ||||
Ending balance | 1,433 | [16],[18],[21],[48] | 1,429 | [13],[15],[19],[27] | ||
Investment, Identifier [Axis]: Aruba Investments Holdings LLC (dba Angus Chemical Company), Second lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[29] | 22,162 | ||||
Ending balance | 22,163 | [16],[17] | 22,162 | [13],[29] | ||
Investment, Identifier [Axis]: Ascend Buyer, LLC (dba PPC Flexible Packaging), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[33] | 759 | ||||
Ending balance | 763 | [16],[21],[38] | 759 | [13],[19],[33] | ||
Investment, Identifier [Axis]: Ascend Buyer, LLC (dba PPC Flexible Packaging), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | (1) | ||||
Ending balance | 0 | [16],[21],[22],[32] | (1) | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: Associations Finance, Inc., Preferred Stock | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[24],[39] | 10,356 | ||||
Ending balance | 10,776 | [16],[21],[26],[40] | 10,356 | [13],[19],[24],[39] | ||
Investment, Identifier [Axis]: Associations, Inc., First lien senior secured delayed draw term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[49],[50] | 24 | ||||
Ending balance | 86 | [16],[21],[22],[31],[38] | 24 | [13],[19],[20],[49],[50] | ||
Investment, Identifier [Axis]: Associations, Inc., First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[50] | 77,628 | ||||
Ending balance | 54,319 | [16],[38] | 77,628 | [13],[50] | ||
Investment, Identifier [Axis]: Associations, Inc., First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | (15) | ||||
Ending balance | 0 | [16],[21],[22],[32] | (15) | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: Aviation Solutions Midco, LLC (dba STS Aviation), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14] | 36,218 | ||||
Ending balance | 36,509 | [16],[30] | 36,218 | [13],[14] | ||
Investment, Identifier [Axis]: AxiomSL Group, Inc., First lien senior secured delayed draw term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36],[49] | (11) | ||||
Ending balance | [13],[19],[20],[36],[49] | (11) | ||||
Investment, Identifier [Axis]: AxiomSL Group, Inc., First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[29] | 42,374 | ||||
Ending balance | [13],[29] | 42,374 | ||||
Investment, Identifier [Axis]: AxiomSL Group, Inc., First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | (52) | ||||
Ending balance | [13],[19],[20],[36] | (52) | ||||
Investment, Identifier [Axis]: BCPE Nucleon (DE) SPV, LP, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[19],[27] | 35,467 | ||||
Ending balance | 35,467 | [16],[18],[21],[28] | 35,467 | [13],[15],[19],[27] | ||
Investment, Identifier [Axis]: BCPE Osprey Buyer, Inc. (dba PartsSource), First lien senior secured delayed draw term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36],[49] | (4) | ||||
Ending balance | (3) | [16],[21],[22],[31],[32] | (4) | [13],[19],[20],[36],[49] | ||
Investment, Identifier [Axis]: BCPE Osprey Buyer, Inc. (dba PartsSource), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19] | 584 | ||||
Ending balance | 584 | [16],[21],[30] | 584 | [13],[14],[19] | ||
Investment, Identifier [Axis]: BCPE Osprey Buyer, Inc. (dba PartsSource), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | (1) | ||||
Ending balance | 10 | [16],[17],[21],[22] | (1) | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: BCPE Watson (DE) ORML, LP, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[19],[37] | 990 | ||||
Ending balance | 993 | [16],[18],[21],[48] | 990 | [13],[15],[19],[37] | ||
Investment, Identifier [Axis]: BCTO BSI Buyer, Inc. (dba Buildertrend), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[50] | 10,058 | ||||
Ending balance | 10,262 | [16],[21],[38] | 10,058 | [13],[19],[50] | ||
Investment, Identifier [Axis]: BCTO BSI Buyer, Inc. (dba Buildertrend), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | 0 | ||||
Ending balance | 0 | [16],[21],[22],[32] | 0 | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: BCTO WIW Holdings, Inc. (dba When I Work), Class A Common Stock | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[23],[24] | 270 | ||||
Ending balance | 270 | [16],[21],[25],[26] | 270 | [13],[19],[23],[24] | ||
Investment, Identifier [Axis]: BP Veraison Buyer, LLC (dba Sun World), First lien senior secured delayed draw term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36],[49] | 0 | ||||
Ending balance | 0 | [16],[21],[22],[31],[32] | 0 | [13],[19],[20],[36],[49] | ||
Investment, Identifier [Axis]: BP Veraison Buyer, LLC (dba Sun World), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14] | 14,268 | ||||
Ending balance | 14,267 | [16],[38] | 14,268 | [13],[14] | ||
Investment, Identifier [Axis]: BP Veraison Buyer, LLC (dba Sun World), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | (14) | ||||
Ending balance | (9) | [16],[21],[22],[32] | (14) | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: Balrog Acquisition, Inc. (dba Bakemark), Second lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19] | 4,950 | ||||
Ending balance | 4,950 | [16],[21],[30] | 4,950 | [13],[14],[19] | ||
Investment, Identifier [Axis]: Bayshore Intermediate #2, L.P. (dba Boomi), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[29] | 16,307 | ||||
Ending balance | 16,911 | [16],[17],[21] | 16,307 | [13],[19],[29] | ||
Investment, Identifier [Axis]: Bayshore Intermediate #2, L.P. (dba Boomi), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[29] | 389 | ||||
Ending balance | 229 | [16],[17],[21],[22] | 389 | [13],[19],[20],[29] | ||
Investment, Identifier [Axis]: Blackhawk Network Holdings, Inc., Second lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14] | 18,683 | ||||
Ending balance | 18,730 | [16],[30] | 18,683 | [13],[14] | ||
Investment, Identifier [Axis]: Bracket Intermediate Holding Corp., First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19] | 70 | ||||
Ending balance | 71 | [16],[21],[30],[51] | 70 | [13],[14],[19] | ||
Investment, Identifier [Axis]: Bracket Intermediate Holding Corp., Second lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14] | 3,600 | ||||
Ending balance | 3,694 | [16],[38] | 3,600 | [13],[14] | ||
Investment, Identifier [Axis]: BradyIFS Holdings, LLC (fka Individual Foodservice Holdings, LLC), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[50] | 30,259 | ||||
Ending balance | 30,257 | [16],[38] | 30,259 | [13],[50] | ||
Investment, Identifier [Axis]: BradyIFS Holdings, LLC (fka Individual Foodservice Holdings, LLC), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | (11) | ||||
Ending balance | 0 | [16],[21],[22],[32] | (11) | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: Brightway Holdings, LLC, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[29] | 4,351 | ||||
Ending balance | 4,340 | [16],[21],[34] | 4,351 | [13],[19],[29] | ||
Investment, Identifier [Axis]: Brightway Holdings, LLC, First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | (11) | ||||
Ending balance | 147 | [16],[21],[22],[34] | (11) | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: Brooklyn Lender Co-Invest 2, L.P. (dba Boomi), Common Units | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[23],[24] | 1,323 | ||||
Ending balance | 1,323 | [16],[21],[25],[26] | 1,323 | [13],[19],[23],[24] | ||
Investment, Identifier [Axis]: CD&R Value Building Partners I, L.P. (dba Belron), LP Interest | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[19],[23],[24] | 1,029 | ||||
Ending balance | 1,029 | [16],[18],[21],[25],[26] | 1,029 | [13],[15],[19],[23],[24] | ||
Investment, Identifier [Axis]: CIBT Global, Inc., First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19],[52] | 83 | ||||
Ending balance | 92 | [16],[21],[30],[53] | 83 | [13],[14],[19],[52] | ||
Investment, Identifier [Axis]: CIBT Global, Inc., Second lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19],[52] | 1,067 | ||||
Ending balance | 1,068 | [16],[21],[30],[53] | 1,067 | [13],[14],[19],[52] | ||
Investment, Identifier [Axis]: CP PIK DEBT ISSUER, LLC (dba CivicPlus, LLC), Unsecured notes | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[37] | 448 | ||||
Ending balance | 452 | [16],[21],[48] | 448 | [13],[19],[37] | ||
Investment, Identifier [Axis]: CSC MKG Topco LLC (dba Medical Knowledge Group), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[29] | 831 | ||||
Ending balance | 835 | [16],[21],[34] | 831 | [13],[19],[29] | ||
Investment, Identifier [Axis]: Catalis Intermediate, Inc. (fka GovBrands Intermediate, Inc.), First lien senior secured delayed draw term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Ending balance | [16],[21],[22],[30],[31] | 509 | ||||
Investment, Identifier [Axis]: Catalis Intermediate, Inc. (fka GovBrands Intermediate, Inc.), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Ending balance | [16],[21],[30] | 2,312 | ||||
Investment, Identifier [Axis]: Catalis Intermediate, Inc. (fka GovBrands Intermediate, Inc.), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Ending balance | [16],[21],[22],[30] | 156 | ||||
Investment, Identifier [Axis]: Centrify Corporation, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19] | 12,908 | ||||
Ending balance | 12,941 | [16],[21],[30] | 12,908 | [13],[14],[19] | ||
Investment, Identifier [Axis]: Centrify Corporation, First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19] | 1,329 | ||||
Ending balance | 663 | [16],[21],[22],[30] | 1,329 | [13],[14],[19] | ||
Investment, Identifier [Axis]: CivicPlus, LLC, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19] | 2,469 | ||||
Ending balance | 2,490 | [16],[21],[30] | 2,469 | [13],[14],[19] | ||
Investment, Identifier [Axis]: CivicPlus, LLC, First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | (1) | ||||
Ending balance | 0 | [16],[21],[22],[32] | (1) | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: Conair Holdings LLC, Second lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Ending balance | [16],[30] | 41,400 | ||||
Investment, Identifier [Axis]: Conair Holdings, LLC, Second lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14] | 40,950 | ||||
Ending balance | [13],[14] | 40,950 | ||||
Investment, Identifier [Axis]: Confluent Medical Technologies, Inc., Second lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[50] | 947 | ||||
Ending balance | 967 | [16],[21],[38] | 947 | [13],[19],[50] | ||
Investment, Identifier [Axis]: Cornerstone OnDemand, Inc., Second lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[29] | 16,000 | ||||
Ending balance | 16,000 | [16],[17],[21] | 16,000 | [13],[19],[29] | ||
Investment, Identifier [Axis]: Datix Bidco Limited (dba RLDatix), First lien senior secured GBP term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[19],[46] | 753 | ||||
Ending balance | 778 | [16],[18],[21],[47] | 753 | [13],[15],[19],[46] | ||
Investment, Identifier [Axis]: Datix Bidco Limited (dba RLDatix), Second lien senior secured GBP term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[19],[46] | 1,975 | ||||
Ending balance | 2,040 | [16],[18],[21],[47] | 1,975 | [13],[15],[19],[46] | ||
Investment, Identifier [Axis]: Delta TopCo, Inc. (dba Infoblox, Inc.), Second lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[50] | 37,200 | ||||
Ending balance | 37,200 | [16],[38] | 37,200 | [13],[50] | ||
Investment, Identifier [Axis]: Denali BuyerCo, LLC (dba Summit Companies), First lien senior secured delayed draw term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19],[20],[49] | 340 | ||||
Ending balance | [13],[14],[19],[20],[49] | 340 | ||||
Investment, Identifier [Axis]: Denali BuyerCo, LLC (dba Summit Companies), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14] | 5,466 | ||||
Ending balance | 5,891 | [16],[30] | 5,466 | [13],[14] | ||
Investment, Identifier [Axis]: Denali BuyerCo, LLC (dba Summit Companies), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | (1) | ||||
Ending balance | (1) | [16],[21],[22],[32] | (1) | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: Denali Holding, LP (dba Summit Companies), Class A Units | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[23],[24] | 539 | ||||
Ending balance | 539 | [16],[21],[25],[26] | 539 | [13],[19],[23],[24] | ||
Investment, Identifier [Axis]: Diagnostic Services Holdings, Inc. (dba Rayus Radiology), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[29] | 988 | ||||
Ending balance | 987 | [16],[17],[21] | 988 | [13],[19],[29] | ||
Investment, Identifier [Axis]: Diamondback Acquisition, Inc. (dba Sphera), First lien senior secured delayed draw term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36],[49] | 0 | ||||
Ending balance | 0 | [16],[21],[22],[31],[32] | 0 | [13],[19],[20],[36],[49] | ||
Investment, Identifier [Axis]: Diamondback Acquisition, Inc. (dba Sphera), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[29] | 626 | ||||
Ending balance | 624 | [16],[17],[21] | 626 | [13],[19],[29] | ||
Investment, Identifier [Axis]: Dodge Construction Network Holdings, L.P., Class A-2 Common Units | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[23],[24] | 367 | ||||
Ending balance | 367 | [16],[21],[25],[26] | 367 | [13],[19],[23],[24] | ||
Investment, Identifier [Axis]: Dodge Construction Network Holdings, L.P., Series A Preferred Units | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[24],[50] | 9 | ||||
Ending balance | 9 | [16],[21],[26] | 9 | [13],[19],[24],[50] | ||
Investment, Identifier [Axis]: Douglas Products and Packaging Company LLC, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[33] | 3,383 | ||||
Ending balance | 3,383 | [16],[21],[38] | 3,383 | [13],[33] | ||
Investment, Identifier [Axis]: Douglas Products and Packaging Company LLC, First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | (4) | ||||
Ending balance | (3) | [16],[21],[22],[32] | (4) | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: EET Buyer, Inc. (dba e-Emphasys), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[27] | 902 | ||||
Ending balance | 900 | [16],[21],[28] | 902 | [13],[19],[27] | ||
Investment, Identifier [Axis]: EET Buyer, Inc. (dba e-Emphasys), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | 0 | ||||
Ending balance | 0 | [16],[21],[22],[32] | 0 | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: Endries Acquisition, Inc., First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[50] | 26,401 | ||||
Ending balance | 26,333 | [16],[34] | 26,401 | [13],[50] | ||
Investment, Identifier [Axis]: Entertainment Benefits Group, LLC, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[33] | 862 | ||||
Ending balance | 860 | [16],[21],[34] | 862 | [13],[19],[33] | ||
Investment, Identifier [Axis]: Entertainment Benefits Group, LLC, First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[33] | 89 | ||||
Ending balance | 44 | [16],[21],[22],[34] | 89 | [13],[19],[20],[33] | ||
Investment, Identifier [Axis]: Evology, LLC, Class B Units | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[23],[24] | 795 | ||||
Ending balance | 854 | [16],[21],[25],[26] | 795 | [13],[19],[23],[24] | ||
Investment, Identifier [Axis]: Evolution BuyerCo, Inc. (dba SIAA), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[50] | 29,063 | ||||
Ending balance | 29,136 | [16],[38] | 29,063 | [13],[50] | ||
Investment, Identifier [Axis]: Evolution BuyerCo, Inc. (dba SIAA), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | (33) | ||||
Ending balance | (22) | [16],[21],[22],[32] | (33) | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: Evolution Parent, LP (dba SIAA), LP Interest | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[23],[24] | 892 | ||||
Ending balance | 924 | [16],[21],[25],[26] | 892 | [13],[19],[23],[24] | ||
Investment, Identifier [Axis]: Ex Vivo Parent Inc. (dba OB Hospitalist), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19] | 10,933 | ||||
Ending balance | 11,328 | [16],[21],[38] | 10,933 | [13],[14],[19] | ||
Investment, Identifier [Axis]: Feradyne Outdoors, LLC, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[33] | 734 | ||||
Ending balance | 701 | [16],[21],[36] | 734 | [13],[19],[33] | ||
Investment, Identifier [Axis]: Fifth Season Investments LLC, Class A Units | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[23],[24] | 1,196 | ||||
Ending balance | 1,266 | [16],[21],[25],[26] | 1,196 | [13],[19],[23],[24] | ||
Investment, Identifier [Axis]: Forescout Technologies, Inc., First lien senior secured delayed draw term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36],[49] | 0 | ||||
Ending balance | 0 | [16],[21],[22],[31],[32] | 0 | [13],[19],[20],[36],[49] | ||
Investment, Identifier [Axis]: Forescout Technologies, Inc., First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19] | 13,947 | ||||
Ending balance | 14,290 | [16],[21],[30] | 13,947 | [13],[14],[19] | ||
Investment, Identifier [Axis]: Forescout Technologies, Inc., First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | 0 | ||||
Ending balance | 700 | [16],[21],[30] | 0 | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: Fortis Solutions Group, LLC, First lien senior secured delayed draw term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[49] | 0 | ||||
Ending balance | [13],[19],[20],[49] | 0 | ||||
Investment, Identifier [Axis]: Fortis Solutions Group, LLC, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19] | 875 | ||||
Ending balance | 879 | [16],[17],[21] | 875 | [13],[14],[19] | ||
Investment, Identifier [Axis]: Fortis Solutions Group, LLC, First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[27] | 10 | ||||
Ending balance | 10 | [16],[17],[21],[22] | 10 | [13],[19],[20],[27] | ||
Investment, Identifier [Axis]: Foundation Consumer Brands, LLC, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19] | 862 | ||||
Ending balance | 840 | [16],[21],[30] | 862 | [13],[14],[19] | ||
Investment, Identifier [Axis]: GI Ranger Intermediate, LLC (dba Rectangle Health), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[50] | 894 | ||||
Ending balance | 896 | [16],[21],[38] | 894 | [13],[19],[50] | ||
Investment, Identifier [Axis]: GI Ranger Intermediate, LLC (dba Rectangle Health), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[50] | 6 | ||||
Ending balance | 6 | [16],[21],[22],[38] | 6 | [13],[19],[20],[50] | ||
Investment, Identifier [Axis]: Gainsight, Inc., First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19] | 5,429 | ||||
Ending balance | 5,613 | [16],[21],[30] | 5,429 | [13],[14],[19] | ||
Investment, Identifier [Axis]: Gainsight, Inc., First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | (13) | ||||
Ending balance | (9) | [16],[21],[22],[32] | (13) | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: Galls, LLC, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14] | 17,982 | ||||
Ending balance | 18,143 | [16],[30] | 17,982 | [13],[14] | ||
Investment, Identifier [Axis]: Galls, LLC, First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19],[20] | 2,377 | ||||
Ending balance | 2,723 | [16],[21],[22],[30] | 2,377 | [13],[14],[19],[20] | ||
Investment, Identifier [Axis]: Gaylord Chemical Company, L.L.C., First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14] | 29,859 | ||||
Ending balance | 27,175 | [16],[30] | 29,859 | [13],[14] | ||
Investment, Identifier [Axis]: Gaylord Chemical Company, L.L.C., First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | 0 | ||||
Ending balance | 0 | [16],[21],[22],[32] | 0 | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: Genesis Acquisition Co. (dba Procare Software), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[27] | 1,954 | ||||
Ending balance | 1,959 | [16],[28] | 1,954 | [13],[27] | ||
Investment, Identifier [Axis]: Genesis Acquisition Co. (dba Procare Software), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[27] | 287 | ||||
Ending balance | 289 | [16],[21],[28] | 287 | [13],[19],[27] | ||
Investment, Identifier [Axis]: Gerson Lehrman Group, Inc., First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[29] | 4,497 | ||||
Ending balance | 4,486 | [16],[38] | 4,497 | [13],[29] | ||
Investment, Identifier [Axis]: Gerson Lehrman Group, Inc., First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | 0 | ||||
Ending balance | 0 | [16],[21],[22],[32] | 0 | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: Global Music Rights, LLC, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19] | 928 | ||||
Ending balance | 926 | [16],[21],[30] | 928 | [13],[14],[19] | ||
Investment, Identifier [Axis]: Global Music Rights, LLC, First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | 0 | ||||
Ending balance | 0 | [16],[21],[22],[32] | 0 | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: Gloves Buyer, Inc. (dba Protective Industrial Products), Second lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[29] | 6,205 | ||||
Ending balance | 6,205 | [16],[17],[21] | 6,205 | [13],[19],[29] | ||
Investment, Identifier [Axis]: Gloves Holdings, LP (dba Protective Industrial Products), LP Interest | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[23],[24] | 829 | ||||
Ending balance | 829 | [16],[21],[25],[26] | 829 | [13],[19],[23],[24] | ||
Investment, Identifier [Axis]: GoHealth, Inc., Common Stock | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[23],[54] | 158 | ||||
Ending balance | 246 | [16],[21],[25],[55] | 158 | [13],[19],[23],[54] | ||
Investment, Identifier [Axis]: GovBrands Intermediate, Inc., First lien senior secured delayed draw term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19],[20],[49] | 521 | ||||
Ending balance | [13],[14],[19],[20],[49] | 521 | ||||
Investment, Identifier [Axis]: GovBrands Intermediate, Inc., First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19] | 2,348 | ||||
Ending balance | [13],[14],[19] | 2,348 | ||||
Investment, Identifier [Axis]: GovBrands Intermediate, Inc., First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19],[20] | 158 | ||||
Ending balance | [13],[14],[19],[20] | 158 | ||||
Investment, Identifier [Axis]: GrowthCurve Capital Sunrise Co-Invest LP (dba Brightway), LP Interest | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[23],[24] | 105 | ||||
Ending balance | 102 | [16],[21],[25],[26] | 105 | [13],[19],[23],[24] | ||
Investment, Identifier [Axis]: Guidehouse Inc., First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[29] | 911 | ||||
Ending balance | 914 | [16],[21],[34] | 911 | [13],[19],[29] | ||
Investment, Identifier [Axis]: H&F Opportunities LUX III S.À R.L (dba Checkmarx), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[19],[29] | 14,544 | ||||
Ending balance | 14,544 | [16],[17],[18],[21] | 14,544 | [13],[15],[19],[29] | ||
Investment, Identifier [Axis]: H&F Opportunities LUX III S.À R.L (dba Checkmarx), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[19],[20],[36] | 0 | ||||
Ending balance | 0 | [16],[18],[21],[22],[32] | 0 | [13],[15],[19],[20],[36] | ||
Investment, Identifier [Axis]: H-Food Holdings, LLC, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[29],[42] | 1 | ||||
Ending balance | 1 | [16],[17],[51] | 1 | [13],[29],[42] | ||
Investment, Identifier [Axis]: H-Food Holdings, LLC, LLC Interest | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[23],[24] | 1,395 | ||||
Ending balance | 1,395 | [16],[21],[25],[26] | 1,395 | [13],[19],[23],[24] | ||
Investment, Identifier [Axis]: H-Food Holdings, LLC, Second lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[29] | 15,697 | ||||
Ending balance | 15,196 | [16],[17] | 15,697 | [13],[29] | ||
Investment, Identifier [Axis]: HGH Purchaser, Inc. (dba Horizon Services), First lien senior secured delayed draw term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[33],[49] | 7,130 | ||||
Ending balance | 7,856 | [16],[21],[31],[38] | 7,130 | [13],[19],[20],[33],[49] | ||
Investment, Identifier [Axis]: HGH Purchaser, Inc. (dba Horizon Services), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14] | 26,514 | ||||
Ending balance | 26,580 | [16],[38] | 26,514 | [13],[14] | ||
Investment, Identifier [Axis]: HGH Purchaser, Inc. (dba Horizon Services), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[33] | 2,206 | ||||
Ending balance | 3,261 | [16],[21],[22],[38] | 2,206 | [13],[19],[20],[33] | ||
Investment, Identifier [Axis]: Hercules Borrower, LLC (dba The Vincit Group), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14] | 28,200 | ||||
Ending balance | 28,199 | [16],[30] | 28,200 | [13],[14] | ||
Investment, Identifier [Axis]: Hercules Borrower, LLC (dba The Vincit Group), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[27] | 348 | ||||
Ending balance | 357 | [16],[21],[22],[30] | 348 | [13],[19],[20],[27] | ||
Investment, Identifier [Axis]: Hercules Buyer, LLC (dba The Vincit Group), Common Units | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[23],[24],[56] | 368 | ||||
Ending balance | 368 | [16],[21],[25],[26],[57] | 368 | [13],[19],[23],[24],[56] | ||
Investment, Identifier [Axis]: Hercules Buyer, LLC (dba The Vincit Group), Unsecured notes | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[39],[56] | 825 | ||||
Ending balance | 825 | [16],[21],[40],[57] | 825 | [13],[19],[39],[56] | ||
Investment, Identifier [Axis]: Hg Genesis 8 Sumoco Limited, Unsecured facility | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[19],[46] | 5,905 | ||||
Ending balance | 6,069 | [16],[18],[21],[47] | 5,905 | [13],[15],[19],[46] | ||
Investment, Identifier [Axis]: Hg Genesis 9 SumoCo Limited, Unsecured facility | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[19],[45] | 1,015 | ||||
Ending balance | 1,057 | [16],[18],[21],[58] | 1,015 | [13],[15],[19],[45] | ||
Investment, Identifier [Axis]: Hg Saturn Luchaco Limited, Unsecured facility | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[19],[46] | 23,741 | ||||
Ending balance | 25,759 | [16],[18],[21],[47] | 23,741 | [13],[15],[19],[46] | ||
Investment, Identifier [Axis]: Hissho Sushi Holdings, LLC, Class A units | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[23],[24] | 83 | ||||
Ending balance | 83 | [16],[21],[25],[26] | 83 | [13],[19],[23],[24] | ||
Investment, Identifier [Axis]: Hissho Sushi Merger Sub LLC, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Ending balance | [16],[21],[38] | 899 | ||||
Investment, Identifier [Axis]: Hissho Sushi Merger Sub LLC, First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Ending balance | [16],[21],[22],[38] | 5 | ||||
Investment, Identifier [Axis]: Hissho Sushi Merger Sub, LLC, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[50] | 899 | ||||
Ending balance | [13],[19],[50] | 899 | ||||
Investment, Identifier [Axis]: Hissho Sushi Merger Sub, LLC, First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[50] | 14 | ||||
Ending balance | [13],[19],[20],[50] | 14 | ||||
Investment, Identifier [Axis]: Hometown Food Company, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[29] | 1,618 | ||||
Ending balance | 1,464 | [16],[17] | 1,618 | [13],[29] | ||
Investment, Identifier [Axis]: Hometown Food Company, First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[29] | 94 | ||||
Ending balance | 0 | [16],[21],[22],[32] | 94 | [13],[19],[20],[29] | ||
Investment, Identifier [Axis]: Hyland Software, Inc., Second lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[29] | 11,477 | ||||
Ending balance | 11,560 | [16],[17],[21],[51] | 11,477 | [13],[19],[29] | ||
Investment, Identifier [Axis]: IG Investments Holdings, LLC (dba Insight Global), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[29] | 9,047 | ||||
Ending balance | 9,070 | [16],[21],[30] | 9,047 | [13],[19],[29] | ||
Investment, Identifier [Axis]: IG Investments Holdings, LLC (dba Insight Global), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[29] | 280 | ||||
Ending balance | (5) | [16],[21],[22],[32] | 280 | [13],[19],[20],[29] | ||
Investment, Identifier [Axis]: Ideal Tridon Holdings, Inc., First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14] | 13,467 | ||||
Ending balance | 13,466 | [16],[30] | 13,467 | [13],[14] | ||
Investment, Identifier [Axis]: Ideal Tridon Holdings, Inc., First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[20],[29] | 709 | ||||
Ending balance | 854 | [16],[17],[22] | 709 | [13],[20],[29] | ||
Investment, Identifier [Axis]: Imprivata, Inc., Second lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[33] | 860 | ||||
Ending balance | 867 | [16],[21],[34] | 860 | [13],[19],[33] | ||
Investment, Identifier [Axis]: Indigo Buyer, Inc. (dba Inovar Packaging Group), First lien senior secured delayed draw term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[49] | 0 | ||||
Ending balance | [13],[19],[20],[49] | 0 | ||||
Investment, Identifier [Axis]: Indigo Buyer, Inc. (dba Inovar Packaging Group), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[50] | 647 | ||||
Ending balance | 895 | [16],[21],[38] | 647 | [13],[19],[50] | ||
Investment, Identifier [Axis]: Indigo Buyer, Inc. (dba Inovar Packaging Group), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[50] | 17 | ||||
Ending balance | 17 | [16],[21],[22],[38] | 17 | [13],[19],[20],[50] | ||
Investment, Identifier [Axis]: Innovation Ventures HoldCo, LLC (dba 5 Hour Energy), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[33] | 980 | ||||
Ending balance | 983 | [16],[21],[34] | 980 | [13],[19],[33] | ||
Investment, Identifier [Axis]: Insight CP (Blocker) Holdings, L.P. (dba CivicPlus, LLC), LP Interest | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[19],[23],[24] | 31 | ||||
Ending balance | 31 | [16],[18],[21],[25],[26] | 31 | [13],[15],[19],[23],[24] | ||
Investment, Identifier [Axis]: Integrity Marketing Acquisition, LLC, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[27] | 27,220 | ||||
Ending balance | 27,218 | [16],[30] | 27,220 | [13],[27] | ||
Investment, Identifier [Axis]: Integrity Marketing Acquisition, LLC, First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | (5) | ||||
Ending balance | 0 | [16],[21],[22],[32] | (5) | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: Intelerad Medical Systems Incorporated (fka 11849573 Canada Inc.), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[50] | 39,068 | ||||
Ending balance | 38,676 | [16],[18],[38] | 39,068 | [13],[15],[50] | ||
Investment, Identifier [Axis]: Intelerad Medical Systems Incorporated (fka 11849573 Canada Inc.), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[19],[33] | 1,522 | ||||
Ending balance | 1,511 | [16],[18],[21],[38] | 1,522 | [13],[15],[19],[33] | ||
Investment, Identifier [Axis]: Interoperability Bidco, Inc. (dba Lyniate), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[50] | 14,133 | ||||
Ending balance | 14,098 | [16],[21],[38] | 14,133 | [13],[19],[50] | ||
Investment, Identifier [Axis]: Interoperability Bidco, Inc. (dba Lyniate), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19],[20] | 321 | ||||
Ending balance | 330 | [16],[21],[22],[38] | 321 | [13],[14],[19],[20] | ||
Investment, Identifier [Axis]: KOBHG Holdings L.P. (dba OB Hospitalist), Class A Interests | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[23],[24] | 1,199 | ||||
Ending balance | 1,199 | [16],[21],[25],[26] | 1,199 | [13],[19],[23],[24] | ||
Investment, Identifier [Axis]: KPCI Holdings, L.P., Class A Units | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[23],[24] | 6,425 | ||||
Ending balance | 6,526 | [16],[21],[25],[26] | 6,425 | [13],[19],[23],[24] | ||
Investment, Identifier [Axis]: KPSKY Acquisition, Inc. (dba BluSky), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[29] | 963 | ||||
Ending balance | 969 | [16],[21],[34] | 963 | [13],[19],[29] | ||
Investment, Identifier [Axis]: KUSRP Intermediate, Inc. (dba U.S. Retirement and Benefits Partners), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[27] | 1,487 | ||||
Ending balance | 1,583 | [16],[17],[21] | 1,487 | [13],[19],[27] | ||
Investment, Identifier [Axis]: Kaseya Inc., First lien senior secured delayed draw term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[49] | 0 | ||||
Ending balance | 0 | [16],[21],[22],[31] | 0 | [13],[19],[20],[49] | ||
Investment, Identifier [Axis]: Kaseya Inc., First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[50] | 530 | ||||
Ending balance | 534 | [16],[21],[38] | 530 | [13],[19],[50] | ||
Investment, Identifier [Axis]: Kaseya Inc., First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | 0 | ||||
Ending balance | 0 | [16],[21],[22],[32] | 0 | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: Knockout Intermediate Holdings I Inc. (dba Kaseya Inc.), Perpetual Preferred Stock | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Ending balance | [16],[21],[26],[40] | 423 | ||||
Investment, Identifier [Axis]: Knockout Intermediate Holdings I Inc. (dba Kaseya), Perpetual Preferred Stock | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[24],[39] | 395 | ||||
Ending balance | [13],[19],[24],[39] | 395 | ||||
Investment, Identifier [Axis]: LSI Financing 1 DAC, Preferred Equity | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[19],[23],[24] | 309 | ||||
Ending balance | 1,061 | [16],[18],[21],[25],[26] | 309 | [13],[15],[19],[23],[24] | ||
Investment, Identifier [Axis]: Lazer Spot Holdings, Inc. (f/k/a Lazer Spot GB Holdings, Inc.), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[27] | 40,079 | ||||
Ending balance | 39,976 | [16],[28] | 40,079 | [13],[27] | ||
Investment, Identifier [Axis]: Lazer Spot Holdings, Inc. (f/k/a Lazer Spot GB Holdings, Inc.), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | 0 | ||||
Ending balance | 0 | [16],[21],[22],[32] | 0 | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: Learning Care Group (US) No. 2 Inc., Second lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14] | 5,164 | ||||
Ending balance | 5,312 | [16],[30] | 5,164 | [13],[14] | ||
Investment, Identifier [Axis]: Lignetics Investment Corp., First lien senior secured delayed draw term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36],[49] | (25) | ||||
Ending balance | [13],[19],[20],[36],[49] | (25) | ||||
Investment, Identifier [Axis]: Lignetics Investment Corp., First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14] | 9,512 | ||||
Ending balance | 10,743 | [16],[30] | 9,512 | [13],[14] | ||
Investment, Identifier [Axis]: Lignetics Investment Corp., First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[29] | 853 | ||||
Ending balance | 762 | [16],[21],[22],[30] | 853 | [13],[19],[20],[29] | ||
Investment, Identifier [Axis]: LineStar Integrity Services LLC, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[27] | 8,672 | ||||
Ending balance | 8,027 | [16],[48] | 8,672 | [13],[27] | ||
Investment, Identifier [Axis]: Litera Bidco LLC, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[33] | 26,131 | ||||
Ending balance | 26,088 | [16],[34] | 26,131 | [13],[33] | ||
Investment, Identifier [Axis]: Litera Bidco LLC, First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19],[20] | 273 | ||||
Ending balance | (3) | [16],[21],[22],[32] | 273 | [13],[14],[19],[20] | ||
Investment, Identifier [Axis]: Lytx, Inc., First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[33] | 23,491 | ||||
Ending balance | 23,491 | [16],[34] | 23,491 | [13],[33] | ||
Investment, Identifier [Axis]: MHE Intermediate Holdings, LLC (dba OnPoint Group), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[37] | 20,685 | ||||
Ending balance | 20,737 | [16],[34] | 20,685 | [13],[37] | ||
Investment, Identifier [Axis]: MHE Intermediate Holdings, LLC (dba OnPoint Group), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[37] | 232 | ||||
Ending balance | 241 | [16],[21],[22],[34] | 232 | [13],[19],[20],[37] | ||
Investment, Identifier [Axis]: MINDBODY, Inc., First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14] | 11,936 | ||||
Ending balance | 11,876 | [16],[17] | 11,936 | [13],[14] | ||
Investment, Identifier [Axis]: MINDBODY, Inc., First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | 0 | ||||
Ending balance | (5) | [16],[21],[22],[32] | 0 | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: Maia Aggregator, LP, Class A-2 Units | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[23],[24] | 119 | ||||
Ending balance | 119 | [16],[21],[25],[26] | 119 | [13],[19],[23],[24] | ||
Investment, Identifier [Axis]: Mario Midco Holdings, Inc. (dba Len the Plumber), Unsecured facility | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[33] | 161 | ||||
Ending balance | 168 | [16],[21],[34] | 161 | [13],[19],[33] | ||
Investment, Identifier [Axis]: Mario Purchaser, LLC (dba Len the Plumber), First lien senior secured delayed draw term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[33],[49] | 80 | ||||
Ending balance | 80 | [16],[21],[22],[31],[34] | 80 | [13],[19],[20],[33],[49] | ||
Investment, Identifier [Axis]: Mario Purchaser, LLC (dba Len the Plumber), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[33] | 516 | ||||
Ending balance | 518 | [16],[21],[34] | 516 | [13],[19],[33] | ||
Investment, Identifier [Axis]: Mario Purchaser, LLC (dba Len the Plumber), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | (1) | ||||
Ending balance | 0 | [16],[21],[22],[32] | (1) | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: MessageBird BidCo B.V., First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[29] | 15,640 | ||||
Ending balance | 15,720 | [16],[17],[18] | 15,640 | [13],[15],[29] | ||
Investment, Identifier [Axis]: MessageBird Holding B.V., Extended Series C Warrants | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[19],[23],[24] | 18 | ||||
Ending balance | 21 | [16],[18],[21],[25],[26] | 18 | [13],[15],[19],[23],[24] | ||
Investment, Identifier [Axis]: Metis HoldCo, Inc. (dba Mavis Tire Express Services), Series A Convertible Preferred Stock | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[24],[39] | 34,895 | ||||
Ending balance | 35,872 | [16],[21],[26],[40] | 34,895 | [13],[19],[24],[39] | ||
Investment, Identifier [Axis]: Milan Laser Holdings LLC, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[33] | 22,694 | ||||
Ending balance | 22,636 | [16],[34] | 22,694 | [13],[33] | ||
Investment, Identifier [Axis]: Milan Laser Holdings LLC, First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | 0 | ||||
Ending balance | 0 | [16],[21],[22],[32] | 0 | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: Minerva Holdco, Inc, Series A Preferred Stock | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[24],[39] | 962 | ||||
Ending balance | 1,005 | [16],[21],[26],[40] | 962 | [13],[19],[24],[39] | ||
Investment, Identifier [Axis]: Ministry Brands Holdings, LLC, First lien senior secured delayed draw term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36],[49] | (3) | ||||
Ending balance | 26 | [16],[21],[22],[31],[34] | (3) | [13],[19],[20],[36],[49] | ||
Investment, Identifier [Axis]: Ministry Brands Holdings, LLC, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[29] | 683 | ||||
Ending balance | 685 | [16],[21],[38] | 683 | [13],[19],[29] | ||
Investment, Identifier [Axis]: Ministry Brands Holdings, LLC, First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[29] | 32 | ||||
Ending balance | 16 | [16],[21],[22],[34] | 32 | [13],[19],[20],[29] | ||
Investment, Identifier [Axis]: Motus Group, LLC, Second lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[29] | 3,543 | ||||
Ending balance | 3,552 | [16],[17],[21] | 3,543 | [13],[19],[29] | ||
Investment, Identifier [Axis]: Muine Gall, LLC, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[19],[27] | 54,246 | ||||
Ending balance | 55,498 | [16],[18],[21],[28] | 54,246 | [13],[15],[19],[27] | ||
Investment, Identifier [Axis]: NMI Acquisitionco, Inc. (dba Network Merchants), First lien senior secured delayed draw term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[29],[49] | 771 | ||||
Ending balance | 775 | [16],[17],[21],[22],[31] | 771 | [13],[19],[20],[29],[49] | ||
Investment, Identifier [Axis]: NMI Acquisitionco, Inc. (dba Network Merchants), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[29] | 3,267 | ||||
Ending balance | 3,275 | [16],[17] | 3,267 | [13],[29] | ||
Investment, Identifier [Axis]: NMI Acquisitionco, Inc. (dba Network Merchants), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | (3) | ||||
Ending balance | (2) | [16],[21],[22],[32] | (3) | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: National Dentex Labs LLC (fka Barracuda Dental LLC), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14] | 18,953 | ||||
Ending balance | 19,049 | [16],[38] | 18,953 | [13],[14] | ||
Investment, Identifier [Axis]: National Dentex Labs LLC (fka Barracuda Dental LLC), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19],[20] | 1,643 | ||||
Ending balance | 1,417 | [16],[21],[22],[38] | 1,643 | [13],[14],[19],[20] | ||
Investment, Identifier [Axis]: Natural Partners, LLC, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[19],[27] | 906 | ||||
Ending balance | 910 | [16],[18],[21],[38] | 906 | [13],[15],[19],[27] | ||
Investment, Identifier [Axis]: Natural Partners, LLC, First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[19],[20],[36] | (1) | ||||
Ending balance | (1) | [16],[18],[21],[22],[32] | (1) | [13],[15],[19],[20],[36] | ||
Investment, Identifier [Axis]: Nelipak Holding Company, First lien senior secured EUR revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[45] | 301 | ||||
Ending balance | 206 | [16],[21],[22],[59] | 301 | [13],[19],[20],[45] | ||
Investment, Identifier [Axis]: Nelipak Holding Company, First lien senior secured USD revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19],[20] | 121 | ||||
Ending balance | 302 | [16],[21],[22],[30] | 121 | [13],[14],[19],[20] | ||
Investment, Identifier [Axis]: Nelipak Holding Company, First lien senior secured USD term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14] | 271 | ||||
Ending balance | 271 | [16],[30] | 271 | [13],[14] | ||
Investment, Identifier [Axis]: Nelipak Holding Company, Second lien senior secured EUR term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[43] | 7,557 | ||||
Ending balance | 7,732 | [16],[21],[58] | 7,557 | [13],[19],[43] | ||
Investment, Identifier [Axis]: Nelipak Holding Company, Second lien senior secured USD term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14] | 7,934 | ||||
Ending balance | 7,974 | [16],[30] | 7,934 | [13],[14] | ||
Investment, Identifier [Axis]: Nellson Nutraceutical, LLC, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[33] | 25,527 | ||||
Ending balance | 25,673 | [16],[38] | 25,527 | [13],[33] | ||
Investment, Identifier [Axis]: New PLI Holdings, LLC (dba PLI), Class A Common Units | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[23],[24],[60] | 12,126 | ||||
Ending balance | 12,139 | [16],[21],[25],[26],[61] | 12,126 | [13],[19],[23],[24],[60] | ||
Investment, Identifier [Axis]: Norvax, LLC (dba GoHealth), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14] | 16,764 | ||||
Ending balance | 16,764 | [16],[34] | 16,764 | [13],[14] | ||
Investment, Identifier [Axis]: Norvax, LLC (dba GoHealth), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | (41) | ||||
Ending balance | (34) | [16],[21],[22],[32] | (41) | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: Notorious Topco, LLC (dba Beauty Industry Group), First lien senior secured delayed draw term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[49],[50] | 2,092 | ||||
Ending balance | 2,071 | [16],[21],[22],[31],[38] | 2,092 | [13],[19],[20],[49],[50] | ||
Investment, Identifier [Axis]: Notorious Topco, LLC (dba Beauty Industry Group), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[50] | 24,002 | ||||
Ending balance | 23,761 | [16],[38] | 24,002 | [13],[50] | ||
Investment, Identifier [Axis]: Notorious Topco, LLC (dba Beauty Industry Group), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[50] | 342 | ||||
Ending balance | 396 | [16],[21],[22],[38] | 342 | [13],[19],[20],[50] | ||
Investment, Identifier [Axis]: Nutraceutical International Corporation, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[29] | 29,432 | ||||
Ending balance | [13],[29] | 29,432 | ||||
Investment, Identifier [Axis]: Nutraceutical International Corporation, First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[29] | 2,141 | ||||
Ending balance | [13],[19],[29] | 2,141 | ||||
Investment, Identifier [Axis]: OB Hospitalist Group, Inc., First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19] | 18,217 | ||||
Ending balance | 18,125 | [16],[21],[38] | 18,217 | [13],[14],[19] | ||
Investment, Identifier [Axis]: OB Hospitalist Group, Inc., First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19],[20] | 979 | ||||
Ending balance | 1,097 | [16],[21],[22],[38] | 979 | [13],[14],[19],[20] | ||
Investment, Identifier [Axis]: Ocala Bidco, Inc., First lien senior secured delayed draw term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36],[49] | (56) | ||||
Ending balance | (34) | [16],[21],[22],[31],[32] | (56) | [13],[19],[20],[36],[49] | ||
Investment, Identifier [Axis]: Ocala Bidco, Inc., First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14] | 32,403 | ||||
Ending balance | 32,796 | [16],[30] | 32,403 | [13],[14] | ||
Investment, Identifier [Axis]: Ocala Bidco, Inc., Second lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19] | 22,197 | ||||
Ending balance | 23,136 | [16],[21],[30] | 22,197 | [13],[14],[19] | ||
Investment, Identifier [Axis]: Offen, Inc., First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[29] | 4,674 | ||||
Ending balance | 4,670 | [16],[34] | 4,674 | [13],[29] | ||
Investment, Identifier [Axis]: PCF Holdco, LLC (dba PCF Insurance Services), Class A Units | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[23],[24] | 11,479 | ||||
Ending balance | 11,479 | [16],[21],[25],[26] | 11,479 | [13],[19],[23],[24] | ||
Investment, Identifier [Axis]: PCF Midco II, LLC (dba PCF Insurance Services), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[39] | 21,412 | ||||
Ending balance | 22,142 | [16],[21],[40] | 21,412 | [13],[19],[39] | ||
Investment, Identifier [Axis]: PHM Netherlands Midco B.V. (dba Loparex), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19] | 188 | ||||
Ending balance | 189 | [16],[21],[30] | 188 | [13],[14],[19] | ||
Investment, Identifier [Axis]: PHM Netherlands Midco B.V. (dba Loparex), Second lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14] | 27,300 | ||||
Ending balance | 27,440 | [16],[30] | 27,300 | [13],[14] | ||
Investment, Identifier [Axis]: Pacific BidCo Inc., First lien senior secured delayed draw term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[19],[20],[36],[49] | (2) | ||||
Ending balance | 0 | [16],[18],[21],[22],[31],[32] | (2) | [13],[15],[19],[20],[36],[49] | ||
Investment, Identifier [Axis]: Pacific BidCo Inc., First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[19],[50] | 1,679 | ||||
Ending balance | 1,692 | [16],[18],[21],[38] | 1,679 | [13],[15],[19],[50] | ||
Investment, Identifier [Axis]: Packaging Coordinators Midco, Inc., Second lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14] | 35,219 | ||||
Ending balance | 35,499 | [16],[30] | 35,219 | [13],[14] | ||
Investment, Identifier [Axis]: Parexel International, Inc. (dba Parexel), Second lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[29] | 34,300 | ||||
Ending balance | [13],[19],[29] | 34,300 | ||||
Investment, Identifier [Axis]: Patriot Acquisition TopCo S.A.R.L (dba Corza Health, Inc.), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[50] | 25,202 | ||||
Ending balance | 25,074 | [16],[18],[38] | 25,202 | [13],[15],[50] | ||
Investment, Identifier [Axis]: Patriot Acquisition TopCo S.A.R.L (dba Corza Health, Inc.), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[19],[20],[50] | 536 | ||||
Ending balance | (40) | [16],[18],[21],[22],[32] | 536 | [13],[15],[19],[20],[50] | ||
Investment, Identifier [Axis]: Patriot Holdings SCSp (dba Corza Health, Inc.), Class A Units | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[19],[24],[39] | 1,615 | ||||
Ending balance | 1,595 | [16],[18],[21],[26] | 1,615 | [13],[15],[19],[24],[39] | ||
Investment, Identifier [Axis]: Patriot Holdings SCSp (dba Corza Health, Inc.), Class B Units | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[19],[23],[24] | 221 | ||||
Ending balance | 214 | [16],[18],[21],[25],[26] | 221 | [13],[15],[19],[23],[24] | ||
Investment, Identifier [Axis]: Peraton Corp., Second lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[29],[42] | 13,798 | ||||
Ending balance | 14,125 | [16],[38],[51] | 13,798 | [13],[29],[42] | ||
Investment, Identifier [Axis]: Peter C. Foy & Associates Insurance Services, LLC (dba PCF Insurance Services), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[27] | 22,597 | ||||
Ending balance | 22,596 | [16],[28] | 22,597 | [13],[27] | ||
Investment, Identifier [Axis]: Peter C. Foy & Associates Insurance Services, LLC (dba PCF Insurance Services), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | (3) | ||||
Ending balance | 0 | [16],[21],[22],[32] | (3) | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: Phoenix Newco, Inc. (dba Parexel), Second lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Ending balance | [16],[17],[21] | 34,650 | ||||
Investment, Identifier [Axis]: Plasma Buyer LLC (dba PathGroup), First lien senior secured delayed draw term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36],[49] | (1) | ||||
Ending balance | (1) | [16],[21],[22],[31],[32] | (1) | [13],[19],[20],[36],[49] | ||
Investment, Identifier [Axis]: Plasma Buyer LLC (dba PathGroup), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[33] | 667 | ||||
Ending balance | 667 | [16],[21],[38] | 667 | [13],[19],[33] | ||
Investment, Identifier [Axis]: Plasma Buyer LLC (dba PathGroup), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | (1) | ||||
Ending balance | (1) | [16],[21],[22],[32] | (1) | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: Pluralsight, LLC, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14] | 20,331 | ||||
Ending balance | 20,331 | [16],[30] | 20,331 | [13],[14] | ||
Investment, Identifier [Axis]: Pluralsight, LLC, First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[29] | 628 | ||||
Ending balance | 628 | [16],[21],[22],[30] | 628 | [13],[19],[20],[29] | ||
Investment, Identifier [Axis]: Pregis Topco LLC, Second lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[29] | 29,695 | ||||
Ending balance | 29,770 | [16],[17] | 29,695 | [13],[29] | ||
Investment, Identifier [Axis]: Premier Imaging, LLC (dba LucidHealth), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[29] | 7,493 | ||||
Ending balance | 7,501 | [16],[17] | 7,493 | [13],[29] | ||
Investment, Identifier [Axis]: Project Alpine Co-Invest Fund, LP, LP Interest | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[19],[23],[24] | 1,000 | ||||
Ending balance | 1,000 | [16],[18],[21],[25],[26] | 1,000 | [13],[15],[19],[23],[24] | ||
Investment, Identifier [Axis]: Project Power Buyer, LLC (dba PEC-Veriforce), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[29] | 7,876 | ||||
Ending balance | 7,738 | [16],[38] | 7,876 | [13],[29] | ||
Investment, Identifier [Axis]: Project Power Buyer, LLC (dba PEC-Veriforce), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | 0 | ||||
Ending balance | (8) | [16],[21],[22],[32] | 0 | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: Proofpoint, Inc., Second lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19] | 4,692 | ||||
Ending balance | 4,606 | [16],[17],[21] | 4,692 | [13],[14],[19] | ||
Investment, Identifier [Axis]: QAD, Inc., First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[29] | 4,285 | ||||
Ending balance | 4,286 | [16],[17],[21] | 4,285 | [13],[19],[29] | ||
Investment, Identifier [Axis]: QAD, Inc., First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | (14) | ||||
Ending balance | (13) | [16],[21],[22],[32] | (14) | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: Quva Pharma, Inc., First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14] | 11,437 | ||||
Ending balance | 11,466 | [16],[30] | 11,437 | [13],[14] | ||
Investment, Identifier [Axis]: Quva Pharma, Inc., First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19],[20] | 544 | ||||
Ending balance | 762 | [16],[21],[22],[30] | 544 | [13],[14],[19],[20] | ||
Investment, Identifier [Axis]: REALPAGE, INC., Second lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[29] | 6,224 | ||||
Ending balance | 6,118 | [16],[17],[51] | 6,224 | [13],[19],[29] | ||
Investment, Identifier [Axis]: RL Datix Holdings (USA), Inc., First lien senior secured USD term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[19],[37] | 9,825 | ||||
Ending balance | 9,875 | [16],[18],[21],[48] | 9,825 | [13],[15],[19],[37] | ||
Investment, Identifier [Axis]: RL Datix Holdings (USA), Inc., Second lien senior secured USD term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[19],[37] | 4,925 | ||||
Ending balance | 4,950 | [16],[18],[21],[48] | 4,925 | [13],[15],[19],[37] | ||
Investment, Identifier [Axis]: Relativity ODA LLC, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[29] | 16,903 | ||||
Ending balance | 17,122 | [16],[17] | 16,903 | [13],[29] | ||
Investment, Identifier [Axis]: Relativity ODA LLC, First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | (4) | ||||
Ending balance | 0 | [16],[21],[22],[32] | (4) | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: Rhea Acquisition Holdings, LP, Series A-2 Units | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[23],[24] | 119 | ||||
Ending balance | 119 | [16],[21],[25],[26] | 119 | [13],[19],[23],[24] | ||
Investment, Identifier [Axis]: Rhea Parent, Inc., First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[50] | 753 | ||||
Ending balance | 756 | [16],[21],[38] | 753 | [13],[19],[50] | ||
Investment, Identifier [Axis]: SWK BUYER, Inc. (dba Stonewall Kitchen), First lien senior secured delayed draw term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36],[49] | (4) | ||||
Ending balance | (4) | [16],[21],[22],[31],[32] | (4) | [13],[19],[20],[36],[49] | ||
Investment, Identifier [Axis]: SWK BUYER, Inc. (dba Stonewall Kitchen), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[37] | 728 | ||||
Ending balance | 723 | [16],[21],[36] | 728 | [13],[19],[37] | ||
Investment, Identifier [Axis]: SWK BUYER, Inc. (dba Stonewall Kitchen), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[33] | 22 | ||||
Ending balance | 38 | [16],[21],[22],[48] | 22 | [13],[19],[20],[33] | ||
Investment, Identifier [Axis]: Safety Products/JHC Acquisition Corp. (dba Justrite Safety Group), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[29] | 3,368 | ||||
Ending balance | 3,376 | [16],[34] | 3,368 | [13],[29] | ||
Investment, Identifier [Axis]: Sara Lee Frozen Bakery, LLC (fka KSLB Holdings, LLC), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14] | 4,521 | ||||
Ending balance | 4,522 | [16],[34] | 4,521 | [13],[14] | ||
Investment, Identifier [Axis]: Sara Lee Frozen Bakery, LLC (fka KSLB Holdings, LLC), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19],[20] | 715 | ||||
Ending balance | 787 | [16],[21],[22],[30] | 715 | [13],[14],[19],[20] | ||
Investment, Identifier [Axis]: Securonix, Inc., First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[50] | 839 | ||||
Ending balance | 835 | [16],[21],[38] | 839 | [13],[19],[50] | ||
Investment, Identifier [Axis]: Securonix, Inc., First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | (2) | ||||
Ending balance | (2) | [16],[21],[22],[32] | (2) | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: Shearer's Foods, LLC, Second lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[29] | 47,760 | ||||
Ending balance | 39,900 | [16],[17] | 47,760 | [13],[29] | ||
Investment, Identifier [Axis]: SimpliSafe Holding Corporation, First lien senior secured delayed draw term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36],[49] | 0 | ||||
Ending balance | 0 | [16],[21],[22],[31],[32] | 0 | [13],[19],[20],[36],[49] | ||
Investment, Identifier [Axis]: SimpliSafe Holding Corporation, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[33] | 809 | ||||
Ending balance | 813 | [16],[21],[34] | 809 | [13],[19],[33] | ||
Investment, Identifier [Axis]: Smarsh Inc., First lien senior secured delayed draw term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[37],[49] | 94 | ||||
Ending balance | 95 | [16],[21],[22],[31],[48] | 94 | [13],[19],[20],[37],[49] | ||
Investment, Identifier [Axis]: Smarsh Inc., First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[37] | 754 | ||||
Ending balance | 758 | [16],[21],[48] | 754 | [13],[19],[37] | ||
Investment, Identifier [Axis]: Smarsh Inc., First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20] | 0 | ||||
Ending balance | 1 | [16],[21],[22],[38] | 0 | [13],[19],[20] | ||
Investment, Identifier [Axis]: Sonny's Enterprises LLC, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[50] | 44,387 | ||||
Ending balance | 44,274 | [16],[38] | 44,387 | [13],[50] | ||
Investment, Identifier [Axis]: Sonny's Enterprises LLC, First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | 0 | ||||
Ending balance | 0 | [16],[21],[22],[32] | 0 | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: Sunshine Software Holdings, Inc. (dba Cornerstone OnDemand), Series A Preferred Stock | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[24],[39] | 5,353 | ||||
Ending balance | 5,636 | [16],[21],[26],[40] | 5,353 | [13],[19],[24],[39] | ||
Investment, Identifier [Axis]: Swipe Acquisition Corporation (dba PLI) | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | 20,047 | $ 13,398 | 13,398 | |||
Gross Additions | 9 | [9] | 531 | [10] | ||
Gross Reductions | (55) | [11] | (110) | [12] | ||
Net Change in Unrealized Gain/(Loss) | 26 | 6,228 | ||||
Realized Gain/(Loss) | 0 | 0 | ||||
Transfers | 0 | 0 | ||||
Ending balance | 20,027 | 20,047 | ||||
Other income | 48 | 78 | ||||
Interest Income | 260 | 838 | ||||
Dividend income | 221 | 827 | ||||
Investment, Identifier [Axis]: Swipe Acquisition Corporation (dba PLI), First lien senior secured delayed draw term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[49],[50],[60] | 1,816 | ||||
Ending balance | 1,810 | [16],[21],[22],[31],[38],[61] | 1,816 | [13],[19],[20],[49],[50],[60] | ||
Investment, Identifier [Axis]: Swipe Acquisition Corporation (dba PLI), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[33],[60] | 6,105 | ||||
Ending balance | 6,078 | [16],[21],[38],[61] | 6,105 | [13],[19],[33],[60] | ||
Investment, Identifier [Axis]: Swipe Acquisition Corporation (dba PLI), Letter of Credit | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[60] | 0 | ||||
Ending balance | 0 | [16],[21],[22],[61] | 0 | [13],[19],[20],[60] | ||
Investment, Identifier [Axis]: THG Acquisition, LLC (dba Hilb), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[29] | 24,603 | ||||
Ending balance | 24,602 | [16],[17] | 24,603 | [13],[29] | ||
Investment, Identifier [Axis]: THG Acquisition, LLC (dba Hilb), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | (23) | ||||
Ending balance | 293 | [16],[17],[21],[22] | (23) | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: Tahoe Finco, LLC, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[19],[29] | 22,849 | ||||
Ending balance | 22,965 | [16],[17],[18],[21] | 22,849 | [13],[15],[19],[29] | ||
Investment, Identifier [Axis]: Tahoe Finco, LLC, First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[19],[20],[36] | (31) | ||||
Ending balance | (22) | [16],[18],[21],[22],[32] | (31) | [13],[15],[19],[20],[36] | ||
Investment, Identifier [Axis]: Tamarack Intermediate, L.L.C. (dba Verisk 3E), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[37] | 668 | ||||
Ending balance | 672 | [16],[21],[38] | 668 | [13],[19],[37] | ||
Investment, Identifier [Axis]: Tamarack Intermediate, L.L.C. (dba Verisk 3E), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[33] | 18 | ||||
Ending balance | 17 | [16],[21],[22],[38] | 18 | [13],[19],[20],[33] | ||
Investment, Identifier [Axis]: Tempo Buyer Corp. (dba Global Claims Services), First lien senior secured delayed draw term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36],[49] | (3) | ||||
Ending balance | (1) | [16],[21],[22],[31],[32] | (3) | [13],[19],[20],[36],[49] | ||
Investment, Identifier [Axis]: Tempo Buyer Corp. (dba Global Claims Services), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19] | 678 | ||||
Ending balance | 681 | [16],[21],[38] | 678 | [13],[14],[19] | ||
Investment, Identifier [Axis]: Tempo Buyer Corp. (dba Global Claims Services), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[35] | 5 | ||||
Ending balance | 30 | [16],[21],[22],[41] | 5 | [13],[19],[20],[35] | ||
Investment, Identifier [Axis]: The Better Being Co., LLC (fka Nutraceutical International Corporation), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Ending balance | [16],[17] | 27,371 | ||||
Investment, Identifier [Axis]: The Better Being Co., LLC (fka Nutraceutical International Corporation), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Ending balance | [16],[17],[21] | 2,006 | ||||
Investment, Identifier [Axis]: The Shade Store, LLC, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[50] | 2,188 | ||||
Ending balance | 2,160 | [16],[21],[38] | 2,188 | [13],[19],[50] | ||
Investment, Identifier [Axis]: The Shade Store, LLC, First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[50] | 57 | ||||
Ending balance | 151 | [16],[21],[22],[38] | 57 | [13],[19],[20],[50] | ||
Investment, Identifier [Axis]: Thunder Purchaser, Inc. (dba Vector Solutions), First lien senior secured delayed draw term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19],[20],[49] | 809 | ||||
Ending balance | 830 | [16],[21],[22],[30],[31] | 809 | [13],[14],[19],[20],[49] | ||
Investment, Identifier [Axis]: Thunder Purchaser, Inc. (dba Vector Solutions), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14] | 13,458 | ||||
Ending balance | 13,561 | [16],[30] | 13,458 | [13],[14] | ||
Investment, Identifier [Axis]: Thunder Purchaser, Inc. (dba Vector Solutions), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19],[20] | 265 | ||||
Ending balance | 508 | [16],[21],[22],[30] | 265 | [13],[14],[19],[20] | ||
Investment, Identifier [Axis]: Thunder Topco L.P. (dba Vector Solutions), Common Units | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[23],[24] | 810 | ||||
Ending balance | 840 | [16],[21],[25],[26] | 810 | [13],[19],[23],[24] | ||
Investment, Identifier [Axis]: Tivity Health, Inc., First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[50] | 982 | ||||
Ending balance | 987 | [16],[21],[38] | 982 | [13],[19],[50] | ||
Investment, Identifier [Axis]: Troon Golf, L.L.C., First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[27] | 60,718 | ||||
Ending balance | 60,564 | [16],[48] | 60,718 | [13],[27] | ||
Investment, Identifier [Axis]: Troon Golf, L.L.C., First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | 0 | ||||
Ending balance | 0 | [16],[21],[22],[32] | 0 | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: USRP Holdings, Inc. (dba U.S. Retirement and Benefits Partners), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19] | 1,635 | ||||
Ending balance | 1,643 | [16],[21],[38] | 1,635 | [13],[14],[19] | ||
Investment, Identifier [Axis]: USRP Holdings, Inc. (dba U.S. Retirement and Benefits Partners), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | (4) | ||||
Ending balance | (2) | [16],[21],[22],[32] | (4) | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: Ultimate Baked Goods Midco, LLC, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[29] | 15,845 | ||||
Ending balance | 15,968 | [16],[34] | 15,845 | [13],[29] | ||
Investment, Identifier [Axis]: Ultimate Baked Goods Midco, LLC, First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[29] | 465 | ||||
Ending balance | 210 | [16],[21],[22],[34] | 465 | [13],[19],[20],[29] | ||
Investment, Identifier [Axis]: Unified Women's Healthcare, LP, First lien senior secured delayed draw term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[49] | 0 | ||||
Ending balance | 0 | [16],[21],[22],[31] | 0 | [13],[19],[20],[49] | ||
Investment, Identifier [Axis]: Unified Women's Healthcare, LP, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[33] | 878 | ||||
Ending balance | 894 | [16],[21],[34] | 878 | [13],[19],[33] | ||
Investment, Identifier [Axis]: Unified Women's Healthcare, LP, First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | 0 | ||||
Ending balance | 0 | [16],[21],[22],[32] | 0 | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: VEPF Torreys Aggregator, LLC (dba MINDBODY, Inc.), Series A Preferred Stock | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[24],[39] | 3,939 | ||||
Ending balance | 3,997 | [16],[21],[26],[40] | 3,939 | [13],[19],[24],[39] | ||
Investment, Identifier [Axis]: Valence Surface Technologies LLC, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[50] | 25,615 | ||||
Ending balance | 26,018 | [16],[21],[38] | 25,615 | [13],[19],[50] | ||
Investment, Identifier [Axis]: Valence Surface Technologies LLC, First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[50] | 2,079 | ||||
Ending balance | 2,111 | [16],[21],[22],[38] | 2,079 | [13],[19],[20],[50] | ||
Investment, Identifier [Axis]: Velocity HoldCo III Inc. (dba VelocityEHS), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[27] | 6,040 | ||||
Ending balance | 6,025 | [16],[21],[28] | 6,040 | [13],[19],[27] | ||
Investment, Identifier [Axis]: Velocity HoldCo III Inc. (dba VelocityEHS), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[29] | 74 | ||||
Ending balance | 74 | [16],[17],[21],[22] | 74 | [13],[19],[20],[29] | ||
Investment, Identifier [Axis]: Vermont Aus Pty Ltd, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[19],[50] | 968 | ||||
Ending balance | 973 | [16],[18],[21],[38] | 968 | [13],[15],[19],[50] | ||
Investment, Identifier [Axis]: WMC Bidco, Inc. (dba West Monroe), Senior Preferred Stock | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[24],[39] | 2,461 | ||||
Ending balance | 2,558 | [16],[21],[26],[40] | 2,461 | [13],[19],[24],[39] | ||
Investment, Identifier [Axis]: WU Holdco, Inc. (dba Weiman Products, LLC), First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14] | 45,105 | ||||
Ending balance | 44,414 | [16],[38] | 45,105 | [13],[14] | ||
Investment, Identifier [Axis]: WU Holdco, Inc. (dba Weiman Products, LLC), First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19],[20] | 1,743 | ||||
Ending balance | 1,699 | [16],[21],[22],[38] | 1,743 | [13],[14],[19],[20] | ||
Investment, Identifier [Axis]: Walker Edison Furniture Company LLC | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | 0 | |||||
Gross Additions | [9] | 11,126 | ||||
Gross Reductions | [11] | 0 | ||||
Net Change in Unrealized Gain/(Loss) | 18 | |||||
Realized Gain/(Loss) | 0 | |||||
Transfers | 0 | |||||
Ending balance | 11,144 | 0 | ||||
Other income | 0 | |||||
Interest Income | 0 | |||||
Dividend income | 0 | |||||
Investment, Identifier [Axis]: Walker Edison Furniture Company LLC, First lien senior secured delayed draw term loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Ending balance | [16],[21],[22],[31],[53],[61] | 0 | ||||
Investment, Identifier [Axis]: Walker Edison Furniture Company LLC, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19],[52] | 8,789 | ||||
Ending balance | 4,138 | [16],[21],[34],[53],[61] | 8,789 | [13],[14],[19],[52] | ||
Investment, Identifier [Axis]: Walker Edison Furniture Company LLC, First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Ending balance | [16],[21],[34],[53],[61] | 2,256 | ||||
Investment, Identifier [Axis]: Walker Edison Holdco LLC, Common Units | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Ending balance | [16],[21],[25],[26],[61] | 4,750 | ||||
Investment, Identifier [Axis]: When I Work, Inc., First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[14],[19] | 787 | ||||
Ending balance | 803 | [16],[21],[30] | 787 | [13],[14],[19] | ||
Investment, Identifier [Axis]: When I Work, Inc., First lien senior secured revolving loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[19],[20],[36] | (3) | ||||
Ending balance | 12 | [16],[21],[22],[30] | (3) | [13],[19],[20],[36] | ||
Investment, Identifier [Axis]: Windows Entities, LLC Units | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[15],[19],[24],[62] | 40,472 | ||||
Ending balance | 40,827 | [16],[18],[21],[26],[63] | 40,472 | [13],[15],[19],[24],[62] | ||
Investment, Identifier [Axis]: Zenith Energy U.S. Logistics Holdings, LLC, First lien senior secured loan | ||||||
Investments in and Advances to Affiliates, at Fair Value [Roll Forward] | ||||||
Beginning balance | [13],[29] | 17,122 | ||||
Ending balance | $ 6,108 | [16],[17] | $ 17,122 | [13],[29] | ||
[1]Certain portfolio company investments are subject to contractual restrictions on sales.[2]Unless otherwise indicated, all investments are considered Level 3 investments.[3]Unless otherwise indicated, all investments are non-controlled, non-affiliated investments. Non-controlled, non-affiliated investments are defined as investments in which the Company owns less than 5% of the portfolio company’s outstanding voting securities and does not have the power to exercise control over the management or policies of such portfolio company.[4]Unless otherwise indicated, all or a portion of the Company’s portfolio companies are pledged as collateral supporting the available capacity under the SPV Asset Facilities. See Note 6 “Debt.”[5]Certain portfolio company investments are subject to contractual restrictions on sales.[6]Unless otherwise indicated, all investments are considered Level 3 investments.[7]Unless otherwise indicated, all investments are non-controlled, non-affiliated investments. Non-controlled, non-affiliated investments are defined as investments in which the Company owns less than 5% of the portfolio company’s outstanding voting securities and does not have the power to exercise control over the management or policies of such portfolio company.[8]Unless otherwise indicated, all or a portion of the Company’s portfolio companies are pledged as collateral supporting the available capacity under the SPV Asset Facilities. See Note 6 “Debt.”[9]Gross additions may include increases in the cost basis of investments resulting from new investments, amounts related to payment-in-kind (“PIK”) interest capitalized and added to the principal balance of the respective loans, the accretion of discounts, the exchange of one or more existing investments for one or more new investments and the movement at fair value of an existing portfolio company into this controlled affiliated category from a different category.[10]Gross additions may include increases in the cost basis of investments resulting from new investments, amounts related to payment-in-kind (“PIK”) interest capitalized and added to the principal balance of the respective loans, the accretion of discounts, the exchange of one or more existing investments for one or more new investments and the movement at fair value of an existing portfolio company into this controlled affiliated category from a different category.[11]Gross reductions may include decreases in the cost basis of investments resulting from principal collections related to investment repayments and sales, return of capital, the amortization of premiums and the exchange of one or more existing securities for one or more new securities.[12]Gross reductions may include decreases in the cost basis of investments resulting from principal collections related to investment repayments and sales, return of capital, the amortization of premiums and the exchange of one or more existing securities for one or more new securities.[13]Represents co-investment made with the Company’s affiliates in accordance with the terms of exemptive relief that the Company received from the U.S. Securities and Exchange Commission. See Note 3 “Agreements and Related Party Transactions.”[14]The interest rate on these loans is subject to 3 month LIBOR, which as of December 31, 2022 was 4.77%.[15]This portfolio company is not a qualifying asset under Section 55(a) of the Investment Company Act of 1940, as amended (the “1940 Act”). Under the 1940 Act, the Company may not acquire any non-qualifying asset unless, at the time such acquisition is made, qualifying assets represent at least 70% of total assets. As of December 31, 2022, non-qualifying assets represented 12.9% of total assets as calculated in accordance with the regulatory requirements.[16]Represents co-investment made with the Company’s affiliates in accordance with the terms of exemptive relief that the Company received from the U.S. Securities and Exchange Commission. See Note 3 “Agreements and Related Party Transactions.”[17]The interest rate on these loans is subject to 1 month LIBOR, which as of March 31, 2023 was 4.86%.[18]This portfolio company is not a qualifying asset under Section 55(a) of the Investment Company Act of 1940, as amended (the “1940 Act”). Under the 1940 Act, the Company may not acquire any non-qualifying asset unless, at the time such acquisition is made, qualifying assets represent at least 70% of total assets. As of March 31, 2023, non-qualifying assets represented 13.0% of total assets as calculated in accordance with the regulatory requirements.[19]Investment is not pledged as collateral for the SPV Asset Facilities.[20]Position or portion thereof is an unfunded loan or equity commitment. See Note 7 “Commitments and Contingencies”.[21]Investment is not pledged as collateral for the SPV Asset Facilities.[22]Position or portion thereof is an unfunded loan or equity commitment. See Note 7 “Commitments and Contingencies”.[23]Investment is non-income producing.[24]Securities acquired in transactions exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”), and may be deemed to be “restricted securities” under the Securities Act. As of December 31, 2022, the aggregate fair value of these securities is $144.7 million, or 11.1% of the Company’s net assets. The acquisition dates of the restricted securities are as follows: Portfolio Company Investment Acquisition Date AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC LLC Interest July 1, 2022 AAM Series 2.1 Aviation Feeder, LLC LLC Interest July 1, 2022 Amergin Asset Management, LLC Class A Units July 1, 2022 ASP Conair Holdings LP Class A Units May 17, 2021 Associations Finance, Inc. Preferred Stock June 10, 2022 BCTO WIW Holdings, Inc. (dba When I Work) Class A Common Stock November 2, 2021 Brooklyn Lender Co-Invest 2, L.P. (dba Boomi) Common Units October 1, 2021 CD&R Value Building Partners I, L.P. (dba Belron) LP Interest December 2, 2021 Denali Holding, LP (dba Summit Companies) Class A Units September 15, 2021 Dodge Construction Network Holdings, L.P. Class A-2 Common Units February 23, 2022 Dodge Construction Network Holdings, L.P. Series A Preferred Units February 23, 2022 Evology, LLC Class B Units January 24, 2022 Evolution Parent, LP (dba SIAA) LP Interest April 30, 2021 Fifth Season Investments LLC Class A Units October 17, 2022 Gloves Holdings, LP (dba Protective Industrial Products) LP Interest December 29, 2020 GrowthCurve Capital Sunrise Co-Invest LP (dba Brightway) LP Interest December 16, 2021 Hercules Buyer, LLC (dba The Vincit Group) Common Units December 15, 2020 H-Food Holdings, LLC LLC Interest November 23, 2018 Hissho Sushi Holdings, LLC Class A units May 17, 2022 Insight CP (Blocker) Holdings, L.P. (dba CivicPlus, LLC) LP Interest June 8, 2022 Knockout Intermediate Holdings I Inc. (dba Kaseya) Perpetual Preferred Stock June 22, 2022 KOBHG Holdings L.P. (dba OB Hospitalist) Class A Interests September 27, 2021 KPCI Holdings, L.P. Class A Units November 30, 2020 LSI Financing 1 DAC Preferred Equity December 14, 2022 Maia Aggregator, LP Class A-2 Units February 1, 2022 MessageBird Holding B.V. Extended Series C Warrants May 5, 2021 Metis HoldCo, Inc. (dba Mavis Tire Express Services) Series A Convertible Preferred Stock May 4, 2021 Minerva Holdco, Inc Series A Preferred Stock February 15, 2022 New PLI Holdings, LLC (dba PLI) Class A Common Units December 23, 2020 Patriot Holdings SCSp (dba Corza Health, Inc.) Class A Units January 29, 2021 Patriot Holdings SCSp (dba Corza Health, Inc.) Class B Units January 29, 2021 PCF Holdco, LLC (dba PCF Insurance Services) Class A Units November 1, 2021 Project Alpine Co-Invest Fund, LP LP Interest June 13, 2022 Rhea Acquisition Holdings, LP Series A-2 Units February 18, 2022 Sunshine Software Holdings, Inc. (dba Cornerstone OnDemand) Series A Preferred Stock October 15, 2021 Thunder Topco L.P. (dba Vector Solutions) Common Units June 30, 2021 VEPF Torreys Aggregator, LLC (dba MINDBODY, Inc.) Series A Preferred Stock October 15, 2021 Windows Entities LLC Units January 16, 2020 WMC Bidco, Inc. (dba West Monroe) Senior Preferred Stock November 9, 2021 Portfolio Company Investment Acquisition Date AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC LLC Interest July 1, 2022 AAM Series 2.1 Aviation Feeder, LLC LLC Interest July 1, 2022 Amergin Asset Management, LLC Class A Units July 1, 2022 ASP Conair Holdings LP Class A Units May 17, 2021 Associations Finance, Inc. Preferred Stock June 10, 2022 BCTO WIW Holdings, Inc. (dba When I Work) Class A Common Stock November 2, 2021 Brooklyn Lender Co-Invest 2, L.P. (dba Boomi) Common Units October 1, 2021 CD&R Value Building Partners I, L.P. (dba Belron) LP Interest December 2, 2021 Denali Holding, LP (dba Summit Companies) Class A Units September 15, 2021 Dodge Construction Network Holdings, L.P. Class A-2 Common Units February 23, 2022 Dodge Construction Network Holdings, L.P. Series A Preferred Units February 23, 2022 Evology, LLC Class B Units January 24, 2022 Evolution Parent, LP (dba SIAA) LP Interest April 30, 2021 Fifth Season Investments LLC Class A Units October 17, 2022 Gloves Holdings, LP (dba Protective Industrial Products) LP Interest December 29, 2020 GrowthCurve Capital Sunrise Co-Invest LP (dba Brightway) LP Interest December 16, 2021 Hercules Buyer, LLC (dba The Vincit Group) Common Units December 15, 2020 H-Food Holdings, LLC LLC Interest November 23, 2018 Hissho Sushi Holdings, LLC Class A units May 17, 2022 Insight CP (Blocker) Holdings, L.P. (dba CivicPlus, LLC) LP Interest June 8, 2022 Knockout Intermediate Holdings I Inc. (dba Kaseya) Perpetual Preferred Stock June 22, 2022 KOBHG Holdings L.P. (dba OB Hospitalist) Class A Interests September 27, 2021 KPCI Holdings, L.P. Class A Units November 30, 2020 LSI Financing 1 DAC Preferred Equity December 14, 2022 Maia Aggregator, LP Class A-2 Units February 1, 2022 MessageBird Holding B.V. Extended Series C Warrants May 5, 2021 Metis HoldCo, Inc. (dba Mavis Tire Express Services) Series A Convertible Preferred Stock May 4, 2021 Minerva Holdco, Inc Series A Preferred Stock February 15, 2022 New PLI Holdings, LLC (dba PLI) Class A Common Units December 23, 2020 Patriot Holdings SCSp (dba Corza Health, Inc.) Class A Units January 29, 2021 Patriot Holdings SCSp (dba Corza Health, Inc.) Class B Units January 29, 2021 PCF Holdco, LLC (dba PCF Insurance Services) Class A Units November 1, 2021 Project Alpine Co-Invest Fund, LP LP Interest June 13, 2022 Rhea Acquisition Holdings, LP Series A-2 Units February 18, 2022 Sunshine Software Holdings, Inc. (dba Cornerstone OnDemand) Series A Preferred Stock October 15, 2021 Thunder Topco L.P. (dba Vector Solutions) Common Units June 30, 2021 VEPF Torreys Aggregator, LLC (dba MINDBODY, Inc.) Series A Preferred Stock October 15, 2021 Walker Edison Furniture Company LLC Common Units March 1, 2023 Portfolio Company Investment Acquisition Date Windows Entities LLC Units January 16, 2020 WMC Bidco, Inc. (dba West Monroe) Senior Preferred Stock November 9, 2021 Under the 1940 Act, the Company is deemed to be an “Affiliated Person” of, as defined in the 1940 Act, this portfolio company, as the Company owns more than 5% of the portfolio company’s outstanding voting securities. Transactions during the year ended December 31, 2022 in which the Company was an Affiliated Person of the portfolio company are as follows: Company Fair Value at December 31, 2021 Gross Additions (a) Gross Reductions (b) Net Change in Unrealized Gain/(Loss) Realized Gain/(Loss) Transfers Fair Value at December 31, 2022 Other Income Interest Income Dividend Income Swipe Acquisition Corporation (dba PLI) $ 13,398 $ 531 $ (110) $ 6,228 $ — $ — $ 20,047 $ 78 $ 838 $ 827 Total $ 13,398 $ 531 $ (110) $ 6,228 $ — $ — $ 20,047 $ 78 $ 838 $ 827 Under the 1940 Act, the Company is deemed to be an “Affiliated Person” of, as defined in the 1940 Act, this portfolio company, as the Company owns more than 5% of the portfolio company’s outstanding voting securities. Transactions during the three months ended March 31, 2023 in which the Company was an Affiliated Person of the portfolio company are as follows: Company Fair Value at December 31, 2022 Gross Additions (a) Gross Reductions (b) Net Change in Unrealized Gain/(Loss) Realized Gain/(Loss) Transfers Fair Value at March 31, 2023 Other Income Interest Income Dividend Income Swipe Acquisition Corporation (dba PLI) $ 20,047 $ 9 $ (55) $ 26 $ — $ — $ 20,027 $ 48 $ 260 $ 221 Walker Edison Furniture Company LLC — 11,126 — 18 — — 11,144 — — — Total $ 20,047 $ 11,135 $ (55) $ 44 $ — $ — $ 31,171 $ 48 $ 260 $ 221 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Net Assets - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | ||
Increase (Decrease) in Net Assets Resulting from Operations | |||
Net investment income (loss) | $ 26,888 | $ 22,984 | |
Net change in unrealized gain (loss) | 12,185 | (13,719) | |
Net realized gain (loss) | (7,738) | 740 | |
Net Increase (Decrease) in Net Assets Resulting from Operations | 31,335 | 10,005 | |
Distributions | |||
Distributions declared from earnings | [1] | (24,554) | (22,847) |
Capital Share Transactions | |||
Reinvestment of shareholders' distributions | 11,229 | 10,481 | |
Repurchased shares | (23,098) | (15,362) | |
Total shares/net proceeds | (11,869) | (4,881) | |
Total Increase (Decrease) in Net Assets | (5,088) | (17,723) | |
Net Assets, at beginning of period | 1,296,261 | 1,359,691 | |
Net Assets, at end of period | $ 1,291,173 | $ 1,341,968 | |
[1]For the three months ended March 31, 2023 and 2022, distributions declared from earnings were derived from net investment income. |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Cash Flows from Operating Activities | |||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ 31,335 | $ 10,005 | |
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash used in operating activities: | |||
Purchases of investments, net | (18,045) | (53,118) | |
Proceeds from investments and investment repayments, net | 60,423 | 82,769 | |
Net change in unrealized (gain) loss on investments | (11,058) | 12,300 | |
Net change in unrealized (gain) loss on translation of assets and liabilities in foreign currencies | (1,256) | 1,431 | |
Net realized (gain) loss on investments | 7,747 | (795) | |
Net realized (gain) loss on foreign currency transactions relating to investments | 5 | (1) | |
Paid-in-kind interest and dividends | (7,665) | (5,436) | |
Net accretion/amortization of discount/premium on investments | (1,698) | (2,263) | |
Amortization of debt issuance costs | 235 | 342 | |
Changes in operating assets and liabilities: | |||
(Increase) decrease in interest receivable | (106) | (2,453) | |
(Increase) decrease in receivable for investments sold | 0 | 11,623 | |
(Increase) decrease in prepaid expenses and other assets | (194) | (811) | |
Increase (decrease) in payables to affiliates | 5,555 | (2,520) | |
Increase (decrease) in accrued expenses and other liabilities | 6,069 | 5,903 | |
Net cash provided by (used in) operating activities | 71,347 | 56,976 | |
Cash Flows from Financing Activities | |||
Borrowings on debt | 50,000 | 70,000 | |
Repayments of debt | (51,000) | (115,000) | |
Debt issuance costs | (73) | (1,339) | |
Distributions paid to shareholders | (13,357) | (12,366) | |
Repurchased shares | (23,098) | (15,362) | |
Net cash provided by (used in) financing activities | (37,528) | (74,067) | |
Net increase (decrease) in cash, including foreign cash | 33,819 | (17,091) | |
Cash, including foreign cash, beginning of period | 47,275 | 54,067 | $ 54,067 |
Cash, including foreign cash, end of period | 81,094 | 36,976 | $ 47,275 |
Supplemental and Non-Cash Information | |||
Interest paid during the period | 10,985 | 4,816 | |
Distributions declared during the period | 24,554 | 22,847 | |
Dividend payable | 2,429 | 0 | |
Reinvestment of distributions during the period | 11,229 | 10,481 | |
Taxes, including excise tax, paid during the period | $ 240 | $ 229 |
Organization and Principal Busi
Organization and Principal Business | 3 Months Ended |
Mar. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Principal Business | Organization and Principal Business Owl Rock Capital Corporation II (the “Company”) is a Maryland corporation formed on October 15, 2015. The Company’s investment objective is to generate current income, and to a lesser extent, capital appreciation by targeting investment opportunities with favorable risk-adjusted returns. The Company’s investment strategy focuses primarily on originating and making loans to, and making debt and equity investments in, U.S. middle-market companies. The Company invests in senior secured or unsecured loans, subordinated loans or mezzanine loans and, to a lesser extent, equity-related securities which includes common and preferred stock, securities convertible into common stock, and warrants. The Company may on occasion invest in smaller or larger companies if an attractive opportunity presents itself, especially when there are dislocations in the capital markets, including the high yield and large syndicated loan markets, which are often referred to as “junk” investments. The Company’s target credit investments will typically have maturities between three The Company has elected to be regulated as a business development company (“BDC”) under the Investment Company Act of 1940, as amended (the “1940 Act”). In addition, for tax purposes, the Company is treated as a regulated investment company (“RIC”) under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”). Because the Company has elected to be regulated as a BDC and qualifies as a RIC under the Code, the Company’s portfolio is subject to diversification and other requirements. In April 2017, the Company commenced operations and made its first portfolio company investment. On February 28, 2017, the Company formed a wholly-owned subsidiary, OR Lending II LLC, a Delaware limited liability company, which holds a California finance lenders license. OR Lending II LLC originates loans to borrowers headquartered in California. From time to time the Company may form wholly-owned subsidiaries to facilitate the normal course of business. Certain of the Company’s consolidated subsidiaries are subject to U.S. federal and state corporate-level income taxes. The Company is managed by Owl Rock Capital Advisors LLC (the “Adviser”). The Adviser is registered with the Securities and Exchange Commission (“SEC”) as an investment adviser under the Investment Advisers Act of 1940 (the “Advisers Act”), an indirect affiliate of Blue Owl Capital Inc. ("Blue Owl") (NYSE: OWL) and part of Owl Rock, a division of Blue Owl focused on direct lending. Blue Owl consists of three divisions: (1) Owl Rock, which focuses on direct lending, (2) Dyal, which focuses on providing capital to institutional alternative asset managers and (3) Oak Street, which focuses on real estate strategies. Subject to the overall supervision of the Company’s board of directors (the “Board”), the Adviser manages the day-to-day operations of, and provides investment advisory and management services to, the Company. The Company previously offered up to 424,000,000 shares of its common stock in a continuous public offering and a follow-on continuous public offering. On September 30, 2016, the Adviser purchased 100 shares of the Company’s common stock at $9.00 per share, which represented the initial public offering price of $9.47 per share, net of combined upfront selling commissions and dealer manager fees. The Adviser will not tender these shares for repurchase as long as the Adviser remains the Company’s investment adviser. There is no current intention for the Adviser to discontinue in its role. On April 4, 2017, the Company sold 277,778 shares pursuant to subscription agreements entered into with certain individuals and entities affiliated with the Adviser and met the minimum offering requirement for its continuous public offering. In April 2017, the Company commenced operations and made its first portfolio company investment. The Company terminated its continuous public offering as of April 30, 2021. Since meeting the minimum offering requirement and through the termination of its continuous public offering, the Company issued 151,364,239 shares of its common stock for gross proceeds of approximately $1.4 billion, including seed capital contributed by the Adviser in September 2016 and approximately $10.0 million in gross proceeds raised in the private placement from certain individuals and entities affiliated with the Adviser. three |
Significant Accounting Policies
Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2023 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | Significant Accounting Policies Basis of Presentation The accompanying consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The Company is an investment company and, therefore, applies the specialized accounting and reporting guidance in Accounting Standards Codification (“ASC”) Topic 946, Financial Services – Investment Companies . In the opinion of management, all adjustments considered necessary for the fair presentation of the consolidated financial statements have been included. The Company’s fiscal year ends on December 31. Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. 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 consolidated financial statements. Actual amounts could differ from those estimates and such differences could be material. Cash Cash consists of deposits held at a custodian bank. Cash is carried at cost, which approximates fair value. The Company deposits its cash with highly-rated banking corporations and, at times, may exceed the insured limits under applicable law. Investments at Fair Value Investment transactions are recorded on the trade date. Realized gains or losses are measured by the difference between the net proceeds received and the amortized cost basis of the investment using the specific identification method without regard to unrealized gains or losses previously recognized, and include investments charged off during the period, net of recoveries. The net change in unrealized gains or losses primarily reflects the change in investment values, including the reversal of previously recorded unrealized gains or losses with respect to investments realized during the period. Rule 2a-5 under the 1940 Act was adopted by the SEC in January 2021 and establishes requirements for determining fair value in good faith for purposes of the 1940 Act. The Company complied with the mandatory provisions of Rule 2a-5 by the September 2022 compliance date. Additionally, commencing with the fourth quarter of 2022, pursuant to Rule 2a-5, the Board designated the Adviser as the Company's valuation designee to perform fair value determinations relating to the value of assets held by the Company for which market quotations are not readily available. Investments for which market quotations are readily available are typically valued at the average bid price of those market quotations. To validate market quotations, the Company utilizes a number of factors to determine if the quotations are representative of fair value, including the source and number of the quotations. Debt and equity securities that are not publicly traded or whose market prices are not readily available, as is the case for substantially all of the Company’s investments, are valued at fair value as determined in good faith by the Adviser, as the valuation designee, based on, among other things, the input of the independent third-party valuation firm(s) engaged at the direction of the Adviser. As part of the valuation process, the Adviser, as the valuation designee, takes into account relevant factors in determining the fair value of the Company’s investments, including: the estimated enterprise value of a portfolio company (i.e., the total fair value of the portfolio company’s debt and equity), the nature and realizable value of any collateral, the portfolio company’s ability to make payments based on its earnings and cash flow, the markets in which the portfolio company does business, a comparison of the portfolio company’s securities to any similar publicly traded securities, and overall changes in the interest rate environment and the credit markets that may affect the price at which similar investments may be made in the future. When an external event such as a purchase or sale transaction, public offering or subsequent equity sale occurs, the Adviser, as the valuation designee, considers whether the pricing indicated by the external event corroborates its valuation. The Adviser, as the valuation designee, undertakes a multi-step valuation process, which includes, among other procedures, the following: • With respect to investments for which market quotations are readily available, those investments will typically be valued at the average bid price of those market quotations; • With respect to investments for which market quotations are not readily available, the valuation process begins with the independent valuation firm(s) providing a preliminary valuation of each investment to the Adviser’s valuation committee; • Preliminary valuation conclusions are documented and discussed with the Adviser’s valuation committee; • The Adviser, as the valuation designee, reviews the recommended valuations and determines the fair value of each investment; • Each quarter, the Adviser, as the valuation designee, will provide the Audit Committee a summary or description of material fair value matters that occurred in the prior quarter and on an annual basis, the Adviser, as the valuation designee, will provide the Audit Committee with a written assessment of the adequacy and effectiveness of its fair value process; and • The Audit Committee oversees the valuation designee and will report to the Board on any valuation matters requiring the Board’s attention. The Company conducts this valuation process on a quarterly basis. The Company applies Financial Accounting Standards Board Accounting Standards Codification (“FASB”) 820, Fair Value Measurements (“ASC 820”), as amended, which establishes a framework for measuring fair value in accordance with U.S. GAAP and required disclosures of fair value measurements. ASC 820 determines fair value to be the price that would be received for an investment in a current sale, which assumes an orderly transaction between market participants on the measurement date. Market participants are defined as buyers and sellers in the principal or most advantageous market (which may be a hypothetical market) that are independent, knowledgeable, and willing and able to transact. In accordance with ASC 820, the Company considers its principal market to be the market that has the greatest volume and level of activity. ASC 820 specifies a fair value hierarchy that prioritizes and ranks the level of observability of inputs used in determination of fair value. In accordance with ASC 820, these levels are summarized below: • Level 1 – Valuations based on quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. • Level 2 – Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. • Level 3 – Valuations based on inputs that are unobservable and significant to the overall fair value measurement. Transfers between levels, if any, are recognized at the beginning of the period in which the transfer occurs. In addition to using the above inputs in investment valuations, the Company applies the valuation policy approved by its Board that is consistent with ASC 820. Consistent with the valuation policy, the Adviser, as the valuation designee, evaluates the source of the inputs, including any markets in which its investments are trading (or any markets in which securities with similar attributes are trading), in determining fair value. When an investment is valued based on prices provided by reputable dealers or pricing services (such as broker quotes), the Adviser, as the valuation designee, subjects those prices to various criteria in making the determination as to whether a particular investment would qualify for treatment as a Level 2 or Level 3 investment. For example, the Adviser, as the valuation designee, or the independent valuation firm(s), reviews pricing support provided by dealers or pricing services in order to determine if observable market information is being used, versus unobservable inputs. Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the fair value of the Company’s investments may fluctuate from period to period. Additionally, the fair value of such investments may differ significantly from the values that would have been used had a ready market existed for such investments and may differ materially from the values that may ultimately be realized. Further, such investments are generally less liquid than publicly traded securities and may be subject to contractual and other restrictions on resale. If the Company were required to liquidate a portfolio investment in a forced or liquidation sale, it could realize amounts that are different from the amounts presented and such differences could be material. In addition, changes in the market environment and other events that may occur over the life of the investments may cause the gains or losses ultimately realized on these investments to be different than the unrealized gains or losses reflected herein. Foreign Currency Foreign currency amounts are translated into U.S. dollars on the following basis: • cash, fair value of investments, outstanding debt, other assets and liabilities: at the spot exchange rate on the last business day of the period; and • purchases and sales of investments, borrowings and repayments of such borrowings, income and expenses: at the rates of exchange prevailing on the respective dates of such transactions. The Company includes net changes in fair values on investments held resulting from foreign exchange rate fluctuations with the change in unrealized gains (losses) on translation of assets and liabilities in foreign currencies on the Consolidated Statements of Operations. The Company’s current approach to hedging the foreign currency exposure in its non-U.S. dollar denominated investments is primarily to borrow the par amount in local currency under the Company’s SPV Asset Facilities to fund these investments. Fluctuations arising from the translation of foreign currency borrowings are included with the net change in unrealized gains (losses) on translation of assets and liabilities in foreign currencies on the Consolidated Statements of Operations. Investments denominated in foreign currencies and foreign currency transactions may involve certain considerations and risks not typically associated with those of domestic origin, including unanticipated movements in the value of the foreign currency relative to the U.S. dollar. Interest and Dividend Income Recognition Interest income is recorded on the accrual basis and includes amortization and accretion of discounts or premiums. Certain investments may have contractual payment-in-kind (“PIK”) interest or dividends. PIK interest and dividends represent accrued interest or dividends that are added to the principal amount or liquidation amount of the investment on the respective interest or dividend payment dates rather than being paid in cash and generally becomes due at maturity or at the occurrence of a liquidation event. For the three months ended March 31, 2023, PIK interest and PIK dividend income earned was $8.4 million, representing approximately 12.5% of investment income. For the three months ended March 31, 2022, PIK interest and PIK dividend income earned was $5.0 million, representing approximately 10.3% of investment income. Discounts and premiums to par value on securities purchased are amortized into interest income over the contractual life of the respective security using the effective yield method. The amortized cost of investments represents the original cost adjusted for the amortization and accretion of discounts and premiums, if any. Upon prepayment of a loan or debt security, any prepayment premiums, unamortized upfront loan origination fees and unamortized discounts are recorded as interest income in the current period. Loans are generally placed on non-accrual status when there is reasonable doubt that principal or interest will be collected in full. Accrued interest is generally reversed when a loan is placed on non-accrual status. Interest payments received on non-accrual loans may be recognized as income or applied to principal depending upon management’s judgment regarding collectability. If at any point the Company believes PIK interest is not expected to be realized, the investment generating PIK interest will be placed on non-accrual status. When a PIK investment is placed on non-accrual status, the accrued, uncapitalized interest or dividends are generally reversed through interest income. Non-accrual loans are restored to accrual status when past due principal and interest is paid current and, in management’s judgment, are likely to remain current. Management may make exceptions to this treatment and determine to not place a loan on non-accrual status if the loan has sufficient collateral value and is in the process of collection. Dividend income on preferred equity securities is recorded on the accrual basis to the extent that such amounts are payable by the portfolio company and are expected to be collected. Dividend income on common equity securities is recorded on the record date for private portfolio companies or on the ex-dividend date for publicly-traded portfolio companies. Other Income From time to time, the Company may receive fees for services provided to portfolio companies. These fees are generally only available to the Company as a result of closing investments, are generally paid at the closing of the investments, are generally non-recurring and are recognized as revenue when earned upon closing of the investment. The services that the Adviser provides vary by investment, but can include closing, work, diligence or other similar fees and fees for providing managerial assistance to the Company’s portfolio companies. Offering Expenses Costs associated with the offering of common shares of the Company were capitalized as deferred offering expenses and were included in prepaid expenses and other assets in the Consolidated Statements of Assets and Liabilities and are amortized over a twelve-month period from incurrence. These expenses consist primarily of legal fees and other costs incurred in connection with the Company’s continuous public offering of its common shares, the preparation of the Company’s registration statement, and registration fees. All remaining capitalized and unamortized offering expenses were expensed in the prior period in connection with the termination of the Company's offering of common shares as of April 30, 2021. Debt Issuance Costs The Company records origination and other expenses related to its debt obligations as deferred financing costs. These expenses are deferred and amortized utilizing the effective yield method over the life of the related debt instrument. Debt issuance costs are presented on the Consolidated Statements of Assets and Liabilities as a direct deduction from the debt liability. In circumstances in which there is not an associated debt liability amount recorded in the consolidated financial statements when the debt issuance costs are incurred, such debt issuance costs will be reported on the Consolidated Statements of Assets and Liabilities as an asset until the debt liability is recorded. Reimbursement of Transaction-Related Expenses The Company may receive reimbursement for certain transaction-related expenses in pursuing investments. Transaction-related expenses, which are generally expected to be reimbursed by the Company’s portfolio companies, are typically deferred until the transaction is consummated and are recorded in prepaid expenses and other assets on the date incurred. The costs of successfully completed investments not otherwise reimbursed are borne by the Company and are included as a component of the investment’s cost basis. Cash advances received in respect of transaction-related expenses are recorded as cash with an offset to accrued expenses and other liabilities. Accrued expenses and other liabilities are relieved as reimbursable expenses are incurred. Income Taxes The Company has elected to be treated as a BDC under the 1940 Act. The Company has elected to be treated as a RIC under the Code beginning with the taxable year ended December 31, 2017 and intends to continue to qualify as a RIC. So long as the Company maintains its tax treatment as a RIC, it generally will not pay U.S. federal income taxes at corporate rates on any ordinary income or capital gains that it distributes at least annually to its shareholders as dividends. Instead, any tax liability related to income earned and distributed by the Company represents obligations of the Company’s investors and will not be reflected in the consolidated financial statements of the Company. To qualify as a RIC, the Company must, among other things, meet certain source-of-income and asset diversification requirements. In addition, to qualify for RIC tax treatment, the Company must distribute to its shareholders, for each taxable year, at least 90% of its “investment company taxable income” for that year, which is generally its ordinary income plus the excess of its realized net short-term capital gains over its realized net long-term capital losses. In order for the Company not to be subject to U.S. federal excise taxes, it must distribute annually an amount at least equal to the sum of (i) 98% of its net ordinary income (taking into account certain deferrals and elections) for the calendar year, (ii) 98.2% of its capital gains in excess of capital losses for the one-year period ending on October 31 of the calendar year and (iii) any net ordinary income and capital gains in excess of capital losses for preceding years that were not distributed during such years. The Company, at its discretion, may carry forward taxable income in excess of calendar year dividends and pay a 4% nondeductible U.S. federal excise tax on this income. Certain of the Company’s consolidated subsidiaries are subject to U.S. federal and state corporate-level income taxes. The Company evaluates tax positions taken or expected to be taken in the course of preparing its consolidated financial statements to determine whether the tax positions are “more-likely-than-not” to be sustained by the applicable tax authority. Tax positions not deemed to meet the “more-likely-than-not” threshold are reserved and recorded as a tax benefit or expense in the current year. All penalties and interest associated with income taxes are included in income tax expense. Conclusions regarding tax positions are subject to review and may be adjusted at a later date based on factors including, but not limited to, on-going analyses of tax laws, regulations and interpretations thereof. There were no material uncertain income tax positions as of December 31, 2022. The 2019 through 2021 tax years remain subject to examination by the IRS, and generally years 2018 through 2021 remain subject to examination by state and local tax authorities. Distributions to Common Shareholders Distributions to common shareholders are recorded on the record date. The amount to be distributed is determined by the Board and is generally based upon the earnings estimated by the Adviser. Net realized long-term capital gains, if any, would be generally distributed at least annually, although the Company may decide to retain such capital gains for investment. The Company has adopted a dividend reinvestment plan that provides for reinvestment of any cash distributions on behalf of shareholders who have “opted in” to the dividend reinvestment plan. As a result, if the Board authorizes and declares a cash distribution, then the shareholders who have “opted in” to the dividend reinvestment plan will have their cash distribution automatically reinvested in additional shares of the Company’s common stock, rather than receiving the cash distribution. The Company expects to use newly issued shares to implement the dividend reinvestment plan. Consolidation As provided under Regulation S-X and ASC Topic 946 - Financial Services - Investment Companies, the Company will generally not consolidate its investment in a company other than a wholly-owned investment company or controlled operating company whose business consists of providing services to the Company. Accordingly, the Company consolidated the accounts of the Company's wholly-owned subsidiaries that meet the aforementioned criteria in its consolidated financial statements. All significant intercompany balances and transactions have been eliminated in consolidation. New Accounting Pronouncements In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform (Topic 848),” which provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts, hedging relationships, and other transactions that reference London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform. In January 2021, the FASB issued ASU No. 2021-01, “Reference Rate Reform (Topic 848),” which expanded the scope of Topic 848 to include derivative instruments impacted by discounting transition. In December 2022, the FASB issued ASU No. 2022-06, “Reference Rate Reform (Topic 848),” which extended the transition period provided under ASU No. 2020-04 and 2021-01 for all entities from December 31, 2022 to December 31, 2024. In June 2022, the FASB issued ASU No. 2022-03, “Fair Value Measurement (Topic 820),” which clarifies the guidance in Topic 820 when measuring the fair value of an equity security subject to contractual restrictions that prohibit the sale of an equity security and introduces new disclosure requirements for equity securities subject to contractual sale restrictions that are measured at fair value in accordance with Topic 820. The amendments affect all entities that have investments in equity securities measured at fair value that are subject to a contractual sale restriction. ASU 2022-03 is effective for public business entities for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. For all other entities the amendments are effective for fiscal years beginning after December 15, 2024, and interim periods within those fiscal years. Early adoption is permitted for both interim and annual financial statements that have not yet been issued or made available for issuance. An entity that qualifies as an investment company under Topic 946 should apply the amendments in ASU No. 2022-03 to an investment in an equity security subject to a contractual sale restriction that is executed or modified on or after the date of adoption. The Company is currently evaluating the impact of adopting ASU No. 2022-03 on the consolidated financial statements. Other than the aforementioned guidance, the Company’s management does not believe that any recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the accompanying consolidated financial statements. |
Agreements and Related Party Tr
Agreements and Related Party Transactions | 3 Months Ended |
Mar. 31, 2023 | |
Related Party Transactions [Abstract] | |
Agreements and Related Party Transactions | Agreements and Related Party Transactions As of March 31, 2023, the Company had payables to affiliates of $22.4 million, primarily comprised of $8.5 million of management fees, $6.9 million of accrued performance based incentive fees and $5.9 million of expense support recoupment. As of December 31, 2022, the Company had payables to affiliates of $16.8 million, primarily comprised of $8.6 million of management fees and $6.3 million of accrued performance based incentive fees. Administration Agreement The Company has entered into an amended and restated Administration Agreement (the “Administration Agreement”) with the Adviser. Under the terms of the Administration Agreement, the Adviser performs, or oversees the performance of, required administrative services, which includes providing office space, equipment and office services, maintaining financial records, preparing reports to shareholders and reports filed with the SEC, and managing the payment of expenses, and the performance of administrative and professional services rendered by others. On May 8, 2023, the Board approved the continuation of the Administration Agreement. The Administration Agreement also provides that the Company reimburses the Adviser for certain offering costs. The Company reimburses the Adviser for services performed for it pursuant to the terms of the Administration Agreement. In addition, pursuant to the terms of the Administration Agreement, the Adviser may delegate its obligations under the Administration Agreement to an affiliate or to a third party and the Company will reimburse the Adviser for any services performed for it by such affiliate or third party. For the three months ended March 31, 2023 and 2022, the Company incurred expenses of approximately $0.5 million and $0.5 million, respectively, for costs and expenses reimbursable to the Adviser under the terms of the Administration Agreement. Unless earlier terminated as described below, the Administration Agreement will remain in effect for two years from the date it first became effective, and will remain in effect from year to year if approved annually by (1) the vote of the Board, or by the vote of a majority of its outstanding voting securities, and (2) the vote of a majority of the Company’s directors who are not “interested persons” of the Company, of the Adviser or of any of their respective affiliates, as defined in the 1940 Act. The Administration Agreement may be terminated at any time, without the payment of any penalty, on 60 days’ written notice, by the vote of a majority of the outstanding voting securities of the Company, or by the vote of the Board or by the Adviser. No person who is an officer, director, or employee of the Adviser or its affiliates and who serves as a director of the Company receives any compensation from the Company for his or her services as a director. However, the Company reimburses the Adviser (or its affiliates) for an allocable portion of the compensation paid by the Adviser or its affiliates to the Company’s Chief Compliance Officer, Chief Financial Officer and their respective staffs (based on the percentage of time those individuals devote, on an estimated basis, to the business and affairs of the Company). Directors who are not affiliated with the Adviser receive compensation for their services and reimbursement of expenses incurred to attend meetings. Investment Advisory Agreement The Investment Advisory Agreement became effective on May 18, 2021. Under the terms of the Investment Advisory Agreement, the Adviser is responsible for managing the Company’s business and activities, including sourcing investment opportunities, conducting research, performing diligence on potential investments, structuring its investments, and monitoring its portfolio companies on an ongoing basis through a team of investment professionals. On May 8, 2022, the Board approved the continuation of the Investment Advisory Agreement. Under the terms of the Investment Advisory Agreement, the Adviser is responsible for managing the Company’s business and activities, including sourcing investment opportunities, conducting research, performing diligence on potential investments, structuring its investments, and monitoring its portfolio companies on an ongoing basis through a team of investment professionals. The Adviser’s services under the Investment Advisory Agreement are not exclusive, and it is free to furnish similar services to other entities so long as its services to the Company are not impaired. Unless earlier terminated as described below, the Investment Advisory Agreement will remain in effect for two years from the date it first became effective, and will remain in effect from year-to-year if approved annually by a majority of the Board or by the holders of a majority of our outstanding voting securities and, in each case, by a majority of independent directors. The Investment Advisory Agreement will automatically terminate within the meaning of the 1940 Act and related SEC guidance and interpretations in the event of its assignment. In accordance with the 1940 Act, without payment of any penalty, the Company may terminate the Investment Advisory Agreement with the Adviser upon 60 days’ written notice. The decision to terminate the agreement may be made by a majority of the Board or the shareholders holding a majority (as defined under the 1940 Act) of the outstanding shares of the Company’s common stock or the Adviser. In addition, without payment of any penalty, the Adviser may generally terminate the Investment Advisory Agreement upon 60 days’ written notice and, in certain circumstances, the Adviser may only be able to terminate the Investment Advisory Agreement upon 120 days’ written notice. Under the terms of the Investment Advisory Agreement, the Company will pay the Adviser a base management fee and may also pay a performance based incentive fee. The cost of both the management fee and the incentive fee will ultimately be borne by the Company’s shareholders. Prior to February 19, 2020, the management fee was payable quarterly in arrears at an annual rate of 1.75% of the average value of the Company’s gross assets, excluding cash and cash equivalents but including assets purchased with borrowed amounts at the end of the Company’s two most recently completed calendar quarters. Beginning February 19, 2020, the annual rate was reduced to 1.50% of the average value of the Company’s gross assets. The management fee for any partial quarter is appropriately prorated. The determination of gross assets reflects changes in the fair value of the Company’s portfolio investments. The fair value of derivatives and swaps held in the Company’s portfolio, which will not necessarily equal the notional value of such derivatives and swaps, is included in the calculation of gross assets. For the three months ended March 31, 2023 and 2022, the Company incurred management fees of approximately $8.5 million and $9.1 million, respectively. The incentive fee consists of two components that are independent of each other, with the result that one component may be payable even if the other is not. A portion of the incentive fee will be based on the Company’s pre-incentive fee net investment income and a portion will be based on the Company’s capital gains. The portion of the incentive fee based on pre-incentive fee net investment income is determined and paid quarterly in arrears and equals (a) 100% of the pre-incentive fee net investment income between 1.5% quarterly preferred return, and 1.818% (or 1.875% prior to February 19, 2020), referred to as the upper level breakpoint, of adjusted capital, plus (b) 17.5% (or 20% prior to February 19, 2020) of pre-incentive fee net investment income in excess of 1.818% (or 1.875% prior to February 19, 2020) of adjusted capital. Adjusted capital is defined as cumulative proceeds generated from sales of the Company’s common stock, including proceeds from the Company’s distribution reinvestment plan, net of sales load (upfront selling commissions and upfront dealer manager fees) reduced for (i) distributions paid to the Company’s shareholders that represent a return of capital on a tax basis and (ii) amounts paid for share repurchases pursuant to the Company’s share repurchase program, if any, measured as of the end of the immediately preceding calendar quarter. The quarterly preferred return of 1.5% and upper level breakpoint of 1.818% (or 1.875% prior to February 19, 2020) are also adjusted for the actual number of days in each calendar quarter. For the three months ended March 31, 2023 and 2022, the Company incurred net investment income based incentive fees of $6.9 million and $4.6 million, respectively. The second component of the incentive fee, the capital gains incentive fee, is payable at the end of each calendar year in arrears, and equals 17.5% (or 20% prior to February 19, 2020) of cumulative realized capital gains from inception through the end of each calendar year, less cumulative realized capital losses and unrealized capital depreciation on a cumulative basis from inception through the end of such calendar year, less the aggregate amount of any previously paid capital gains incentive fee for prior periods. In no event will the capital gains incentive fee payable pursuant to the Investment Advisory Agreement be in excess of the amount permitted by the Advisers Act, including Section 205 thereof. While the Investment Advisory Agreement neither includes nor contemplates the inclusion of unrealized gains in the calculation of the capital gains incentive fee, as required by U.S. GAAP, the Company accrues capital gains incentive fees on unrealized gains. This accrual reflects the incentive fees that would be payable to the Adviser if the Company’s entire investment portfolio was liquidated at its fair value as of the balance sheet date even though the Adviser is not entitled to an incentive fee with respect to unrealized gains unless and until such gains are actually realized. For the three months ended March 31, 2023, the Company did not incur capital gains based incentive fees, and for the three months ended March 31, 2022, the Company recorded a reversal of capital gains based incentive fees of $1.3 million. On June 8, 2018, the Adviser agreed to waive (A) any portion of the management fee that was in excess of 1.50% of the Company’s gross assets, excluding cash and cash-equivalents but including assets purchased with borrowed amounts at the end of the two most recently completed calendar quarters, calculated in accordance with the Investment Advisory Agreement, (B) any portion of the incentive fee on net investment income that was in excess of 17.5% of the Company’s pre-incentive fee net investment income, which was calculated in accordance with the Investment Advisory Agreement but based on a quarterly preferred return of 1.50% per quarter and an upper level breakpoint of 1.818%, and (C) any portion of the incentive fee on capital gains that was in excess of 17.5% of the Company’s realized capital gains, if any, on a cumulative basis from inception through the end of such calendar year, net of all realized capital losses and unrealized capital depreciation on a cumulative basis, minus the aggregate amount of any previously paid incentive fee on capital gains as calculated in accordance with U.S. GAAP (the “Waiver”). Any portion of the management fee, incentive fee on net investment income and incentive fee on capital gains that the Adviser previously waived is not subject to recoupment. On February 19, 2020, the Board approved amendments to the Investment Advisory Agreement, which reduced the management fee and incentive fee to the amounts specified in the Waiver. Under the terms of the Investment Advisory Agreement, the Adviser is entitled to receive up to 1.5% of gross offering proceeds raised in the continuous public offering until all organization and offering costs paid by the Adviser or its affiliates have been recovered. The Company bears all other expenses of its operations and transactions including, without limitation, those relating to: expenses deemed to be “organization and offering expenses” for purposes of Conduct Rule 2310(a)(12) of Financial Industry Regulatory Authority (exclusive of commissions, the dealer manager fee, any discounts and other similar expenses paid by investors at the time of sale of the Company’s stock); the cost of corporate and organizational expenses relating to offerings of shares of common stock, subject to limitations included in the Investment Advisory Agreement; the cost of calculating the Company’s net asset value, including the cost of any third-party valuation services; the cost of effecting any sales and repurchases of the common stock and other securities; fees and expenses payable under any dealer manager agreements, if any; debt service and other costs of borrowings or other financing arrangements; costs of hedging; expenses, including travel expense, incurred by the Adviser, or members of the Investment Team, or payable to third parties, performing due diligence on prospective portfolio companies and, if necessary, enforcing the Company’s rights; escrow agent, transfer agent and custodial fees and expenses; fees and expenses associated with marketing efforts; federal and state registration fees, any stock exchange listing fees and fees payable to rating agencies; federal, state and local taxes; independent directors’ fees and expenses, including certain travel expenses; costs of preparing financial statements and maintaining books and records and filing reports or other documents with the SEC (or other regulatory bodies) and other reporting and compliance costs, including registration fees, listing fees and licenses, and the compensation of professionals responsible for the preparation of the foregoing; the costs of any reports, proxy statements or other notices to shareholders (including printing and mailing costs); the costs of any shareholder or director meetings and the compensation of personnel responsible for the preparation of the foregoing and related matters; commissions and other compensation payable to brokers or dealers; research and market data; fidelity bond, directors and officers errors and omissions liability insurance and other insurance premiums; direct costs and expenses of administration, including printing, mailing, long distance telephone and staff; fees and expenses associated with independent audits, outside legal and consulting costs; costs of winding up; costs incurred in connection with the formation or maintenance of entities or vehicles to hold the Company’s assets for tax or other purposes; extraordinary expenses (such as litigation or indemnification); and costs associated with reporting and compliance obligations under the Advisers Act and applicable federal and state securities laws. Notwithstanding anything to the contrary contained herein, the Company shall reimburse the Adviser (or its affiliates) for an allocable portion of the compensation paid by the Adviser (or its affiliates) to the Company’s Chief Compliance Officer and Chief Financial Officer and their respective staffs (based on a percentage of time such individuals devote, on an estimated basis, to the business affairs of the Company). Any such reimbursements will not exceed actual expenses incurred by the Adviser and its affiliates. The Adviser is responsible for the payment of the Company’s organization and offering expenses to the extent that these expenses exceed 1.5% of the aggregate gross offering proceeds, without recourse against or reimbursement by the Company. For the three months ended March 31, 2023 and 2022, subject to the 1.5% organization and offering cost cap, the Company did not accrue initial organization and offering expenses. From time to time, the Adviser may pay amounts owed by the Company to third-party providers of goods or services, including the Board, and the Company will subsequently reimburse the Adviser for such amounts paid on its behalf. Amounts payable to the Adviser are settled in the normal course of business without formal payment terms. Affiliated Transactions The Company may be prohibited under the 1940 Act from participating in certain transactions with its affiliates without prior approval of the directors who are not interested persons, and in some cases, the prior approval of the SEC. The Company, the Adviser and certain of their affiliates have been granted an order for exemptive relief (the “Order”) by the SEC for the Company to co-invest with other funds managed by the Adviser or certain affiliates, in a manner consistent with the Company’s investment objective, positions, policies, strategies and restrictions as well as regulatory requirements and other pertinent factors. Pursuant to the Order, the Company generally is permitted to co-invest with certain of its affiliates if a “required majority” (as defined in Section 57(o) of the 1940 Act) of the Board make certain conclusions in connection with a co-investment transaction, including that (1) the terms of the transaction, including the consideration to be paid, are reasonable and fair to the Company and its shareholders and do not involve overreaching by the Company or its shareholders on the part of any person concerned, (2) the transaction is consistent with the interests of the Company’s shareholders and is consistent with its investment objective and strategies, (3) the investment by its affiliates would not disadvantage the Company, and the Company’s participation would not be on a basis different from or less advantageous than that on which its affiliates are investing and (4) the proposed investment by the Company would not benefit the Advisers or its affiliates or any affiliated person of any of them (other than the parties to the transaction), except to the extent permitted by the Order and applicable law, including the limitation set forth in Section 57(k) of the 1940 Act. In addition, the Company has received an amendment to its Order to permit it to participate in follow-on investments in its existing portfolio companies with certain affiliates that are private funds if such private funds did not have an investment in such existing portfolio company. The Adviser is affiliated with Owl Rock Technology Advisors LLC (“ORTA”), Owl Rock Capital Private Fund Advisors LLC (“ORPFA”), Owl Rock Technology Advisors II LLC ("ORTA II") and Owl Rock Diversified Advisors LLC (“ORDA” together with ORTA, ORPFA, ORTA II and the Adviser, the "Owl Rock Advisers"), which are also investment advisers. The Owl Rock Advisers are affiliates of Blue Owl and comprise "Owl Rock," a division of Blue Owl focused on direct lending. The Owl Rock Advisers’ investment allocation policy seeks to ensure equitable allocation of investment opportunities over time between the Company and other funds managed by the Adviser or its affiliates. As a result of the Order, there could be significant overlap in the Company’s investment portfolio and the investment portfolios of other funds managed by the Adviser or its affiliates that could avail themselves of the Order and that have an investment objective similar to the Company. Dealer Manager Agreement The Company has entered into a Dealer Manager Agreement (the “Dealer Manager Agreement”) with Blue Owl Securities LLC (formerly, Owl Rock Capital Securities LLC) (“Blue Owl Securities”), an affiliate of the Adviser. On October 1, 2019, the Company entered into the Follow-on Dealer Manager Agreement with Blue Owl Securities (together with the Original Dealer Manager Agreement, the “Dealer Manager Agreement”). The Company has determined not to file additional post-effective amendments to its registration statement and terminated its public offering and the Dealer Manager Agreement as of April 30, 2021. Under the terms of the Dealer Manager Agreement, Blue Owl Securities served as the dealer manager for the Company’s public offering of its shares of common stock. As dealer manager, Owl Rock Securities earned a maximum sales load of up to 5.0% of the price per share for combined upfront selling commissions and dealer manager fees, a portion or all of which may be reallowed to selling broker-dealers. In connection with purchases of shares pursuant to the Company’s distribution reinvestment plan, the upfront selling commissions and dealer manager fees were not paid. Blue Owl Securities is a broker-dealer registered with the SEC, a member of the Financial Industry Regulatory Authority and a member of the Securities Investor Protection Corporation. Expense Support and Conditional Reimbursement Agreement On February 6, 2017, the Company entered into an Expense Support and Conditional Reimbursement Agreement (the “Expense Support Agreement”) with the Adviser, the purpose of which is to ensure that no portion of the Company’s distributions to shareholders will represent a return of capital for U.S. federal income tax purposes. The Expense Support Agreement became effective as of April 4, 2017, the date that the Company met the minimum offering requirement. On a quarterly basis, the Adviser reimburses the Company for “Operating Expenses” (as defined below) in an amount equal to the excess of the Company’s cumulative distributions paid to the Company’s shareholders in each quarter over “Available Operating Funds” (as defined below) received by the Company on account of its investment portfolio during such quarter. Any payments required to be made by the Adviser pursuant to the preceding sentence are referred to herein as an “Expense Payment”. Pursuant to the Expense Support Agreement, “Operating Expenses” means all of the Company’s operating costs and expenses incurred, as determined in accordance with U.S. GAAP for investment companies. “Available Operating Funds” means the sum of (i) the Company’s estimated investment company taxable income (including realized net short-term capital gains reduced by realized net long-term capital losses), (ii) the Company’s realized net capital gains (including the excess of realized net long-term capital gains over realized net short-term capital losses) and (iii) dividends and other distributions paid to the Company on account of preferred and common equity investments in portfolio companies, if any (to the extent such amounts listed in clause (iii) are not included under clauses (i) and (ii) above). The Adviser’s obligation to make an Expense Payment will automatically become a liability of the Adviser and the right to such Expense Payment will be an asset of the Company on the last business day of the applicable quarter. The Expense Payment for any quarter will be paid by the Adviser to the Company in any combination of cash or other immediately available funds, and/or offset against amounts due from the Company to the Adviser no later than the earlier of (i) the date on which the Company closes its books for such quarter, or (ii) forty-five days after the end of such quarter. Following any quarter in which Available Operating Funds exceed the cumulative distributions paid by the Company in respect of such quarter (the amount of such excess being hereinafter referred to as “Excess Operating Funds”), the Company will pay such Excess Operating Funds, or a portion thereof, in accordance with the stipulations below, as applicable, to the Adviser, until such time as all Expense Payments made by the Adviser to the Company within three years prior to the last business day of such quarter have been reimbursed. Any payments required to be made by the Company are referred to as a “Reimbursement Payment”. The amount of the Reimbursement Payment for any quarter shall equal the lesser of (i) the Excess Operating Funds in respect of such quarter and (ii) the aggregate amount of all Expense Payments made by the Adviser to the Company within three years prior to the last business day of such quarter that have not been previously reimbursed by the Company to the Adviser. The payment will be reduced to the extent that such Reimbursement Payments, together with all other Reimbursement Payments paid during the fiscal year, would cause Other Operating Expenses defined as the Company’s total Operating Expenses, excluding base management fees, incentive fees, organization and offering expenses, distribution and shareholder servicing fees, financing fees and costs, interest expense, brokerage commissions and extraordinary expenses (on an annualized basis and net of any Expense Payments received by the Company during the fiscal year) to exceed the lesser of: (i) 1.75% of the Company’s average net assets attributable to the shares of the Company’s common stock for the fiscal year-to-date period after taking such Expense Payments into account; and (ii) the percentage of the Company’s average net assets attributable to shares of the Company’s common stock represented by Other Operating Expenses during the fiscal year in which such Expense Payment was made (provided, however, that this clause (ii) shall not apply to any Reimbursement Payment which relates to an Expense Payment made during the same fiscal year). No Reimbursement Payment for any quarter will be made if: (1) the “Effective Rate of Distributions Per Share” (as defined below) declared by the Company at the time of such Reimbursement Payment is less than the Effective Rate of Distributions Per Share at the time the Expense Payment was made to which such Reimbursement Payment relates, or (2) the Company’s “Operating Expense Ratio” (as defined below) at the time of such Reimbursement Payment is greater than the Operating Expense Ratio at the time the Expense Payment was made to which such Reimbursement Payment relates. Pursuant to the Expense Support Agreement, “Effective Rate of Distributions Per Share” means the annualized rate (based on a 365 day year) of regular cash distributions per share exclusive of returns of capital, distribution rate reductions due to distribution and shareholder fees, and declared special dividends or special distributions, if any. The “Operating Expense Ratio” is calculated by dividing Operating Expenses, less organizational and offering expenses, base management and incentive fees owed to Adviser, and interest expense, by the Company’s net assets. The specific amount of expenses reimbursed by the Adviser, if any, will be determined at the end of each quarter. The Company or the Adviser may terminate the Expense Support Agreement at any time, with or without notice. The Expense Support Agreement will automatically terminate in the event of (a) the termination of the Investment Advisory Agreement, or (b) the Board of the Company making a determination to dissolve or liquidate the Company. Upon termination of the Expense Support Agreement, the Company will be required to fund any Expense Payments, subject to the aforementioned requirements per the Expense Support Agreement, that have not been reimbursed by the Company to the Adviser. As of March 31, 2023, the amount of Expense Support Payments provided by the Adviser since inception is $32.8 million. During the three months ended March 31, 2023, the Company recorded obligations to repay Expense Support from the Adviser of $5.9 million. During the three months ended March 31, 2022, the Company did not repay expense support to the Adviser. The following table presents a summary of all expenses supported, and recouped, by the Adviser for each of the following three month periods in which the Company received Expense Support from the Adviser and the associated dates through which such expenses may be subject to reimbursement from the Company pursuant to the Expense Support Agreement: For the Quarter Ended Amount of Recoupment Expired Unreimbursed Effective Rate of Distribution per Share (1) Reimbursement Operating Expense Ratio (2) ($ in thousands) June 30, 2017 $ 1,061 $ 1,061 $ — $ — 7.0% N/A 16.81% September 30, 2017 1,023 258 765 — 7.0% September 30, 2020 6.15% December 31, 2017 856 — 856 — 7.0% December 31, 2020 2.83% March 31, 2018 1,871 — 1,871 — 6.9% March 31, 2021 2.27% June 30, 2018 775 — 775 — 6.9% June 30, 2021 1.53% March 31, 2019 1,835 — 1,835 — 7.0% March 31, 2022 0.91% June 30, 2019 1,776 — 1,776 — 7.0% June 30, 2022 0.79% September 30, 2019 1,081 — 1,081 — 7.0% September 30, 2022 0.72% December 31, 2019 2,351 — 2,351 — 7.0% December 31, 2022 0.69% March 31, 2020 6,587 5,857 730 — 7.7% March 31, 2023 0.70% June 30, 2020 5,794 — — 5,794 7.4% June 30, 2023 0.70% September 30, 2020 3,079 — — 3,079 7.2% September 30, 2023 0.63% December 31, 2020 3,216 3,216 — — 6.5% N/A 0.71% March 31, 2021 1,449 — — 1,449 6.4% March 31, 2024 0.60% Total $ 32,754 $ 10,392 $ 12,040 $ 10,322 ______________ (1) The effective rate of distribution per share is expressed as a percentage equal to the projected annualized distribution amount as of the end of the applicable period (which is calculated by annualizing the regular weekly or monthly cash distributions per share as of such date without compounding), divided by the Company’s gross offering price per share as of such date. (2) The operating expense ratio is calculated by dividing operating expenses, less organizational and offering expenses, base management and incentive fees owed to the Adviser, and interest expense, by the Company’s net assets. License Agreement The Company has entered into a license agreement (the “License Agreement”), pursuant to which an affiliate of Blue Owl has granted the Company a non-exclusive license to use the name “Owl Rock.” Under the License Agreement, the Company has a right to use the Owl Rock name for so long as the Adviser or one of its affiliates remains the Company’s investment adviser. Other than with respect to this limited license, the Company will have no legal right to the “Owl Rock” name or logo. Promissory Note On May 18, 2017, the Board authorized the Company, as Borrower, to enter into a series of promissory notes (the “Promissory Notes”) with the Adviser. The Promissory Notes matured on December 31, 2020. See Note 6 “Debt”. |
Investments
Investments | 3 Months Ended |
Mar. 31, 2023 | |
Schedule of Investments [Abstract] | |
Investments | Investments The information in the tables below is presented on an aggregate portfolio basis, without regard to whether they are non-controlled non-affiliated, non-controlled affiliated or controlled affiliated investments. The table below presents investments at fair value and amortized cost as of the following periods: March 31, 2023 December 31, 2022 ($ in thousands) Amortized Cost Fair Value Amortized Cost Fair Value First-lien senior secured debt investments $ 1,590,717 $ 1,580,257 $ 1,633,375 $ 1,614,367 Second-lien senior secured debt investments 477,237 462,577 484,086 467,560 Unsecured debt investments 38,095 34,915 36,708 32,663 Preferred equity investments 61,993 61,337 59,750 58,678 Common equity investments 60,141 91,952 55,033 86,224 Total Investments $ 2,228,183 $ 2,231,038 $ 2,268,952 $ 2,259,492 The table below presents the industry composition of investments based on fair value as of the following periods: March 31, 2023 December 31, 2022 Advertising and media 0.9 % 0.9 % Aerospace and defense 3.5 3.4 Asset Based Lending and Fund Finance (1) 1.5 1.4 Automotive 1.7 1.6 Buildings and real estate 3.2 4.2 Business services 3.2 3.1 Chemicals 2.6 2.7 Consumer products 4.6 4.5 Containers and packaging 1.4 1.4 Distribution 3.3 3.2 Education 1.2 1.2 Financial services 5.5 5.3 Food and beverage 7.0 7.4 Healthcare equipment and services 4.0 3.9 Healthcare providers and services 5.1 5.0 Healthcare technology 6.1 5.9 Household products 2.4 2.2 Human resource support services 1.4 1.4 Infrastructure and environmental services 0.4 0.4 Insurance (3) 8.1 7.9 Internet software and services 13.8 13.6 Leisure and entertainment 2.7 2.7 Manufacturing 7.1 7.0 Pharmaceuticals (2) 0.1 — Oil and gas 0.6 1.1 Professional services 2.4 2.4 Specialty retail 3.2 3.2 Transportation 3.0 3.0 Total 100.0 % 100.0 % ______________ (1) Includes investments in AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC and AAM Series 2.1 Aviation Feeder, LLC (collectively, “Amergin AssetCo”). (2) Includes investment in LSI Financing 1 DAC (“LSI Financing”). (3) Includes investments in Fifth Season Investment LLC (fka Chapford SMA Partnership, L.P. ("Fifth Season"). The table below presents the geographic composition of investments based on fair value as of the following periods: March 31, 2023 December 31, 2022 United States: Midwest 17.2 % 17.4 % Northeast 18.1 17.6 South 32.7 33.7 West 23.9 23.5 International 8.1 7.8 Total 100.0 % 100.0 % |
Fair Value of Investments
Fair Value of Investments | 3 Months Ended |
Mar. 31, 2023 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Investments | Fair Value of Investments Investments The tables below present the fair value hierarchy of investments as of the following periods: Fair Value Hierarchy as of March 31, 2023 ($ in thousands) Level 1 Level 2 Level 3 Total First-lien senior secured debt investments $ — $ 73 $ 1,580,184 $ 1,580,257 Second-lien senior secured debt investments — 31,804 430,773 462,577 Unsecured debt investments — — 34,915 34,915 Preferred equity investments — — 61,337 61,337 Common equity investments 246 — 91,706 91,952 Total Investments $ 246 $ 31,877 $ 2,198,915 $ 2,231,038 Fair Value Hierarchy as of December 31, 2022 ($ in thousands) Level 1 Level 2 Level 3 Total First-lien senior secured debt investments $ — $ 1 $ 1,614,366 $ 1,614,367 Second-lien senior secured debt investments — 13,798 453,762 467,560 Unsecured debt investments — 569 32,094 32,663 Preferred equity investments — — 58,678 58,678 Common equity investments 158 — 86,066 86,224 Total Investments $ 158 $ 14,368 $ 2,244,966 $ 2,259,492 The tables below present changes in the fair value of investments for which Level 3 inputs were used to determine the fair value as of and for the following periods: As of and for the Three Months Ended March 31, 2023 ($ in thousands) First-lien senior secured debt investments Second-lien senior secured debt investments Unsecured debt investments Preferred equity investments Common equity investments Total Fair value, beginning of period $ 1,614,366 $ 453,762 $ 32,094 $ 58,678 $ 86,066 $ 2,244,966 Purchases of investments, net 16,910 (1) (1) 811 328 18,047 Payment-in-kind 3,935 894 1,414 1,391 31 7,665 Proceeds from investments, net (52,382) (8,000) (38) — (2) (60,422) Net change in unrealized gain (loss) on investments 8,546 1,568 865 416 533 11,928 Net realized gain (loss) on investments (7,752) — (5) — — (7,757) Net accretion/amortization of discount/premium on investments 1,381 251 17 41 — 1,690 Transfers between investment types (4,750) — — — 4,750 — Transfers into (out of) Level 3 (1) (70) (17,701) 569 — — (17,202) Fair value, end of period $ 1,580,184 $ 430,773 $ 34,915 $ 61,337 $ 91,706 $ 2,198,915 _____________________ (1) Transfers between levels, if any, are recognized at the beginning of the period in which the transfers occur. For the three months ended March 31, 2023, transfers out of Level 3 were as a result of changes in the observability of significant inputs for certain portfolio companies. As of and for the Three Months Ended March 31, 2022 ($ in thousands) First-lien senior secured debt investments Second-lien senior secured debt investments Unsecured debt investments Preferred equity investments Common equity investments Total Fair value, beginning of period $ 1,784,325 $ 484,500 $ 34,133 $ 49,313 $ 66,395 $ 2,418,666 Purchases of investments, net 49,462 979 986 1,036 1,020 53,483 Payment-in-kind 3,043 577 1,074 712 29 5,435 Proceeds from investments, net (77,798) — — (4,900) — (82,698) Net change in unrealized gain (loss) on investments (7,599) (4,116) (1,038) (792) 605 (12,940) Net realized gain (loss) on investments 23 — — 773 — 796 Net amortization of discount on investments 1,925 189 20 117 — 2,251 Transfers into (out of) Level 3 (1) (73) (26,376) — — — (26,449) Fair value, end of period $ 1,753,308 $ 455,753 $ 35,175 $ 46,259 $ 68,049 $ 2,358,544 _____________________ (1) Transfers between levels, if any, are recognized at the beginning of the period in which the transfers occur. For the three months ended March 31, 2022, transfers out of Level 3 were as a result of changes in the observability of significant inputs for certain portfolio companies. The table below presents information with respect to the net change in unrealized gains (losses) on investments for which Level 3 inputs were used in determining the fair value that are still held by the Company for the following periods: ($ in thousands) Net change in unrealized gain (loss) for the Three Months Ended March 31, 2023 on Investments Held at March 31, 2023 Net change in unrealized gain (loss) for the Three Months Ended March 31, 2022 on Investments Held at March 31, 2022 First-lien senior secured debt investments $ 8,546 $ (6,932) Second-lien senior secured debt investments 1,568 (4,106) Unsecured debt investments 865 (1,039) Preferred equity investments 416 (735) Common equity investments 533 814 Total Investments $ 11,928 $ (11,998) The tables below present quantitative information about the significant unobservable inputs of the Company’s Level 3 investments as of the following periods. The weighted average range of unobservable inputs is based on fair value of investments. The tables are not intended to be all-inclusive, but instead capture the significant unobservable inputs relevant to the Company’s determination of fair value. As of March 31, 2023 ($ in thousands) Fair Value Valuation Technique Unobservable Input Range (Weighted Average) Impact to Valuation from an Increase in Input First-lien senior secured debt investments $ 1,573,789 Yield Analysis Market Yield 9.1% - 38.3% (12.6%) Decrease 6,395 Recent Transaction Transaction Price 98.0% - 100.0% (98.7%) Increase Second-lien senior secured debt investments $ 429,705 Yield Analysis Market Yield 8.1% - 21.8% (14.3%) Decrease 1,068 Collateral Analysis Recovery Rate 9.5% - 9.5% (9.5%) Increase Unsecured debt investments $ 34,091 Yield Analysis Market Yield 10.7% - 20.5% (12.4%) Decrease 825 Market Approach EBITDA Multiple 13.8x - 13.8x (13.8x) Increase Preferred equity investments $ 60,267 Yield Analysis Market Yield 11.5% - 15.3% (13.9%) Decrease 1,061 Recent Transaction Transaction Price 100.0% - 100.0% (100.0%) Increase 9 Market Approach EBITDA Multiple 12.0x - 12.0x (12.0x) Increase Common equity investments $ 81,846 Market Approach EBITDA Multiple 3.4x - 21.0x (8.1x) Increase 3,478 Market Approach Revenue Multiple 1.9x - 16.0x (10.0x) Increase 6,361 Recent Transaction Transaction Price 100.0% - 100.0% (100.0%) Increase 21 Market Approach Gross Profit Multiple 9.0x - 9.0x (9.0x) Increase As of December 31, 2022 ($ in thousands) Fair Value Valuation Technique Unobservable Input Range (Weighted Average) Impact to Valuation from an Increase in Input First-lien senior secured debt investments $ 1,602,197 Yield Analysis Market Yield 9.1% - 42.0% (13.0%) Decrease 8,789 Collateral Analysis Recovery Rate 51.0% - 51.0% (51.0%) Increase 3,378 Recent Transaction Transaction Price 99.0% - 99.0% (99.0%) Increase Second-lien senior secured debt investments $ 452,695 Yield Analysis Market Yield 12.6% - 21.0% (16.2%) Decrease 1,068 Collateral Analysis Recovery Rate 9.5% - 9.5% (9.5%) Increase Unsecured debt investments $ 31,269 Yield Analysis Market Yield 10.4% - 20.2% (12.4%) Decrease 825 Market Approach EBITDA Multiple 14.3x - 14.3x (14.3x) Increase Preferred equity investments $ 58,361 Yield Analysis Market Yield 11.9% - 17.0% (13.9%) Decrease 309 Recent Transaction Transaction Price 100.0% - 100.0% (100.0%) Increase 9 Market Approach EBITDA Multiple 11.5x - 11.5x (11.5x) Increase Common equity investments $ 81,345 Market Approach EBITDA Multiple 3.8x - 23.3x (8.2x) Increase 3,420 Market Approach Revenue Multiple 1.8x - 16.6x (10.2x) Increase 1,283 Recent Transaction Transaction Price 100.0% - 100.0% (100.0%) Increase 18 Market Approach Gross Profit Multiple 8.6x - 8.6x (8.6x) Increase The fair value of the Company’s performing Level 3 debt investments is typically determined utilizing a yield analysis. In a yield analysis, a price is ascribed for each investment based upon an assessment of current and expected market yields for similar investments and risk profiles. Additional consideration is given to the expected life, portfolio company performance since close, and other terms and risks associated with an investment. Among other factors, a determinant of risk is the amount of leverage used by the portfolio company relative to its total enterprise value, and the rights and remedies of the Company’s investment within the portfolio company’s capital structure. When the debtor is not performing or when there is insufficient value to cover the investment, the Company may utilize a net recovery approach to determine the fair value of debt investments in subject companies. A net recovery analysis typically consists of two steps. First, the total enterprise value for the subject company is estimated using standard valuation approaches, most commonly the market approach. Second, the fair value for each investment in the subject company is then estimated by allocating the subject company’s total enterprise value to the outstanding securities in the capital structure based upon various factors, including seniority, preferences, and other features if deemed relevant to each security in the capital structure. Significant unobservable quantitative inputs typically used in the fair value measurement of the Company’s Level 3 debt investments primarily include current market yields, including relevant market indices, but may also include quotes from brokers, dealers, and pricing services as indicated by comparable investments. For the Company’s Level 3 equity investments, a market approach, based on comparable publicly-traded company and comparable market transaction multiples of revenues, earnings before income taxes, depreciation and amortization (“EBITDA”), or some combination thereof and comparable market transactions typically would be used. Debt Not Carried at Fair Value Fair value is estimated by discounting remaining payments using applicable current market rates, which take into account changes in the Company’s marketplace credit ratings, or market quotes, if available. The table below presents the carrying and fair values of the Company’s debt obligations as of the following periods. March 31, 2023 December 31, 2022 ($ in thousands) Net Carrying Value (1) Fair Value Net Carrying Value (2) Fair Value SPV Asset Facility I $ 394,104 $ 394,104 $ 374,084 $ 374,084 SPV Asset Facility II 151,561 151,561 172,397 172,397 2024 Notes 450,169 432,000 450,192 428,625 Total Debt $ 995,834 $ 977,665 $ 996,673 $ 975,106 ______________ (1) The carrying value of the Company’s SPV Asset Facility I, SPV Asset Facility II, and 2024 Notes are presented net of deferred financing costs of $0.1 million, $3.4 million and $(0.2) million, respectively. (2) The carrying value of the Company’s SPV Asset Facility I, SPV Asset Facility II and 2024 Notes are presented net of deferred financing costs of $0.1 million, $3.6 million and $(0.2) million, respectively. The table below presents fair value measurements of the Company’s debt obligations as of the following periods: ($ in thousands) March 31, 2023 December 31, 2022 Level 1 $ — $ — Level 2 432,000 428,625 Level 3 545,665 546,481 Total Debt $ 977,665 $ 975,106 Financial Instruments Not Carried at Fair Value As of March 31, 2023 and December 31, 2022, the carrying amounts of the Company’s assets and liabilities, other than investments at fair value and debt, approximate fair value due to their short maturities. |
Debt
Debt | 3 Months Ended |
Mar. 31, 2023 | |
Debt Disclosure [Abstract] | |
Debt | Debt In accordance with the 1940 Act, with certain limitations, the Company is allowed to borrow amounts such that its asset coverage, as defined in the 1940 Act, is at least 200% (or 150% if certain conditions are met) after such borrowing. The Company’s asset coverage was 228% and 229% as of March 31, 2023 and December 31, 2022, respectively. Debt obligations consisted of the below as of the following periods: March 31, 2023 ($ in thousands) Aggregate Principal Outstanding Amount Available (1) Net Carrying Value (2) SPV Asset Facility I $ 500,000 $ 394,222 $ 40,340 $ 394,104 SPV Asset Facility II 325,000 155,000 87,204 151,561 2024 Notes 450,000 450,000 — 450,169 Total Debt $ 1,275,000 $ 999,222 $ 127,544 $ 995,834 ______________ (1) The amount available reflects any limitations related to each credit facility’s borrow base. (2) The carrying value of the Company’s SPV Asset Facility I, SPV Asset Facility II and 2024 Notes are presented net of deferred financing costs of $0.1 million, $3.4 million and $(0.2) million, respectively. December 31, 2022 ($ in thousands) Aggregate Principal Outstanding Amount Available (1) Net Carrying Value (2) SPV Asset Facility I $ 500,000 $ 374,222 $ 29,179 $ 374,084 SPV Asset Facility II 325,000 176,000 79,146 172,397 2024 Notes 450,000 450,000 — 450,192 Total Debt $ 1,275,000 $ 1,000,222 $ 108,325 $ 996,673 ______________ (1) The amount available reflects any limitations related to each credit facility’s borrow base. (2) The carrying value of the Company’s SPV Asset Facility I, SPV Asset Facility II and 2024 Notes are presented net of deferred unamortized debt issuance costs of $0.1 million, $3.6 million and $(0.2) million, respectively. For the following periods, the components of interest expense were as follows: For the Three Months Ended March 31, ($ in thousands) 2023 2022 Interest expense $ 15,699 $ 9,915 Amortization of debt issuance costs 235 342 Total Interest Expense $ 15,934 $ 10,257 Average interest rate 6.1 % 3.5 % Average daily borrowings $ 998,189 $ 1,098,056 SPV Asset Facility I On December 1, 2017 (the “SPV Asset Facility I Closing Date”), ORCC II Financing LLC and OR Lending II LLC (collectively, the “Subsidiaries”), each a Delaware limited liability company and a wholly-owned subsidiary of the Company, entered into a Credit Agreement (the “SPV Asset Facility I”). Parties to the SPV Asset Facility I include ORCC II Financing LLC and OR Lending II LLC, as Borrowers, and the lenders from time to time parties thereto (the “SPV I Lenders”), Goldman Sachs Bank USA as Sole Lead Arranger, Syndication Agent and Administrative Agent, State Street Bank and Trust Company as Collateral Administrator and Collateral Agent and Cortland Capital Market Services LLC as Collateral Custodian. From time to time, the parties to the SPV Asset Facility I have amended the SPV Asset Facility I and the related transaction documents. The summary below reflects the terms of the SPV Asset Facility I as amended from time to time, including by the Third Amended and Restated Credit Agreement, entered into on May 6, 2022, by the parties to the SPV Asset Facility I. From time to time, the Company sells and contributes certain investments to ORCC II Financing LLC pursuant to a Sale and Contribution Agreement by and between the Company and ORCC II Financing LLC. No gain or loss will be recognized as a result of these sales and contributions. Proceeds from the SPV Asset Facility I have been and will be used to finance the origination and acquisition of eligible assets by the Subsidiaries, including the purchase of such assets from the Company. The Company retains a residual interest in assets contributed to or acquired by the Subsidiaries through its ownership of the Subsidiaries. The maximum principal amount of the SPV Asset Facility I is $500 million; the availability of this amount is subject to a borrowing base test, which is based on the amount of the Subsidiaries’ assets from time to time, and satisfaction of certain conditions, including certain concentration limits. The SPV Asset Facility I provides for a reinvestment period up to and including November 30, 2023 (the “SPV Asset Facility I Commitment Termination Date”). Prior to the SPV Asset Facility I Commitment Termination Date, proceeds received by the Subsidiaries from interest, dividends, or fees on assets must be used to pay expenses and interest on outstanding borrowings, and the excess may be returned to the Company, subject to certain conditions. Proceeds received from principal on assets prior to the SPV Asset Facility I Commitment Termination Date must be used to make quarterly payments of principal on outstanding borrowings. Following the SPV Asset Facility I Commitment Termination Date, proceeds received by the Subsidiaries from interest and principal on collateral assets must be used to make quarterly payments of principal on outstanding borrowings. Subject to certain conditions, between quarterly payment dates prior to and after the SPV Asset Facility I Commitment Termination Date, excess interest proceeds and principal proceeds may be released to the Subsidiaries to make distributions to the Company. The SPV Asset Facility I will mature on November 30, 2024. Amounts drawn in USD bear interest at Term SOFR plus a 2.40% spread and after a ramp-up period, the spread is also payable on any undrawn amounts. The Company borrows utilizing three-month SOFR rate loans. The SPV Asset Facility I contains customary covenants, including certain financial maintenance covenants, limitations on the activities of the Subsidiaries, including limitations on incurrence of incremental indebtedness, and customary events of default. The SPV Asset Facility I is secured by a perfected first priority security interest in the Company’s equity interests in the Subsidiaries and in the assets of the Subsidiaries and on any payments received by the Subsidiaries in respect of those assets. Upon the occurrence of certain value adjustment events relating to the assets securing the SPV Asset Facility I, the Subsidiaries will also be required to provide certain cash collateral. Assets pledged to the SPV I Lenders will not be available to pay the debts of the Company. Borrowings of the Subsidiaries are considered the Company’s borrowings for purposes of complying with the asset coverage requirements under the 1940 Act. In connection with the SPV Asset Facility I, the Company entered into a Non-Recourse Carveout Guaranty Agreement on the SPV Asset Facility I Closing Date, which was amended and restated twice on March 11, 2019 and April 29, 2019, with State Street Bank and Trust Company, on behalf of certain secured parties, and Goldman Sachs Bank USA. Pursuant to the Non-Recourse Carveout Guaranty Agreement, the Company guarantees certain losses, damages, costs, expenses, liabilities, claims and other obligations incurred in connection with certain instances of fraud or bad faith misrepresentation, material encumbrances of certain collateral, misappropriation of certain funds, certain transfers of assets, and the bad faith or willful breach of certain provisions of the SPV Asset Facility I. SPV Asset Facility II On April 14, 2020 (the “SPV Asset Facility II Closing Date”), ORCC II Financing II LLC (“ORCC II Financing II”), a Delaware limited liability company and newly formed subsidiary of the Company entered into a Credit Agreement (the “SPV Asset Facility II”), with ORCC II Financing II, as Borrower, the lenders from time to time parties thereto (the “SPV II Lenders”), Natixis, New York Branch, as Administrative Agent, State Street Bank and Trust Company as Collateral Agent and Cortland Capital Market Services LLC as Document Custodian. The parties to the SPV Asset Facility II have entered into various amendments, including to increase the maximum principal amount of the SPV Asset Facility II, change the interest rates for amounts drawn in U.S. dollars, to extend the maturity of the SPV Asset Facility II to convert the benchmark rate of the facility from LIBOR to Term SOFR and make certain other changes. The summary below reflects the terms of the SPV Asset Facility II as amended through March 25, 2022. From time to time, the Company expects to sell and contribute certain investments to ORCC II Financing II pursuant to a Sale and Contribution Agreement by and between the Company and ORCC II Financing II. No gain or loss will be recognized as a result of these sales and contributions. Proceeds from the SPV Asset Facility II will be used to finance the origination and acquisition of eligible assets by ORCC II Financing II, including the purchase of such assets from the Company. The Company retains a residual interest in assets contributed to or acquired by ORCC II Financing II through the Company’s ownership of ORCC II Financing II. The maximum principal amount of the SPV Asset Facility II is $325 million; the availability of this amount is subject to an overcollateralization ratio test, which is based on the value of ORCC II Financing II’s assets from time to time, and satisfaction of certain conditions, including an interest coverage ratio test, certain concentration limits and collateral quality tests. The SPV Asset Facility II provides for the ability to (1) draw term loans and (2) draw and redraw revolving loans under the SPV Asset Facility II for a period of up to two years after the SPV Asset Facility II Closing Date unless the revolving commitments are terminated or converted to term loans sooner as provided in the SPV Asset Facility II (the “SPV Asset Facility II Commitment Termination Date”). Unless otherwise terminated, the SPV Asset Facility II will mature on April 14, 2030 (the “SPV Asset Facility II Stated Maturity”). Prior to the SPV Asset Facility II Stated Maturity, proceeds received by ORCC II Financing II from principal and interest, dividends, or fees on assets must be used to pay fees, expenses and interest on outstanding borrowings, and the excess may be returned to the Company, subject to certain conditions. On the SPV Asset Facility II Stated Maturity, ORCC II Financing II must pay in full all outstanding fees and expenses and all principal and interest on outstanding borrowings, and the excess may be returned to the Company. Amounts drawn bear interest at Term SOFR (or, in the case of certain lenders that are commercial paper conduits, the lower of their cost of funds and Term SOFR plus 0.25%) plus, (x) with respect to revolving loans, 2.50% and (y) with respect to term loans, 2.50% during the SPV Asset Facility II’s reinvestment period and 2.50% thereafter. From the SPV Asset Facility II Closing Date to the SPV Asset Facility II Commitment Termination Date, there is a commitment fee that steps up during the year after the SPV Closing Date from 0.00% to 0.75% per annum on the undrawn amount, if any, of the revolving commitments in the SPV Asset Facility II. The SPV Asset Facility II contains customary covenants, including certain financial maintenance covenants, limitations on the activities of ORCC II Financing II, including limitations on incurrence of incremental indebtedness, and customary events of default. The SPV Asset Facility II is secured by a perfected first priority security interest in the assets of ORCC II Financing II and on any payments received by ORCC II Financing II in respect of those assets. Assets pledged to the SPV II Lenders will not be available to pay the debts of the Company. Borrowings of ORCC II Financing II are considered the Company’s borrowings for purposes of complying with the asset coverage requirements under the 1940 Act. Promissory Note On May 18, 2017, the Board authorized the Company, as borrower, to enter into a series of Promissory Notes with the Adviser, as lender, to borrow up to an aggregate of $10 million from the Adviser. On October 19, 2017, the Board increased the approved amount to an aggregate of $15 million. On November 7, 2017, the Board approved a modification to the Promissory Notes which extended the original maturity date to December 31, 2018. On March 2, 2018, the Board increased the approved amount to an aggregate of $20 million. On July 19, 2018, the Board increased the approved amount to an aggregate of $35 million. On November 6, 2018, the Board approved an additional modification to the Promissory Notes which further extended the maturity date to December 31, 2019. On March 8, 2019, the Board increased the approved amount to an aggregate of $50 million. On October 30, 2019, the Board approved an additional modification to the Promissory Notes which further extended the maturity date to December 31, 2020. The Company could re-borrow any amount repaid; however, there was no funding commitment between the Adviser and the Company. The interest rate on any such borrowing was based on either the rate of interest for a LIBOR-Based Advance or the rate of interest for a Prime-Based Advance under the Loan and Security Agreement, dated as of February 22, 2017, as amended as of August 1, 2017 (as further amended or supplemented from time to time, the “Loan Agreement”), by and among the Adviser, as borrower, and East West Bank. The unpaid principal balance of the Promissory Notes and accrued interest thereon was paid in full on December 15, 2020 and December 31, 2020, respectively and the Promissory Notes matured on December 31, 2020. The Company used the borrowed funds to leverage its current investment portfolio and to make investments in portfolio companies consistent with its investment strategies. 2024 Notes On November 26, 2019, the Company issued $300 million aggregate principal amount of the Company’s 4.625% notes due November 26, 2024 (the “2024 Notes”) in a private placement in reliance on Section 4(a)(2) of the Securities Act, and for initial resale to qualified institutional buyers pursuant to the exemption from registration provided by Rule 144A promulgated under the Securities Act. On October 21, 2020, the Company issued an additional $50 million aggregate principal amount of the Company’s 4.625% notes due 2024 and on May 5, 2021, the Company issued an additional $100 million aggregate principal amount of the Company’s 4.625% notes due 2024 (collectively, the “Additional 2024 Notes” and together with the Existing 2024 Notes, the “2024 Notes”) in a private placement in reliance on Section 4(a)(2) of the Securities Act, and for initial resale to qualified institutional buyers pursuant to the exemption from registration provided by Rule 144A promulgated under the Securities Act. The Additional 2024 Notes will be treated as a single series with the Existing 2024 Notes and will have the same terms as the Existing 2024 Notes. The 2024 Notes have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration. The 2024 Notes were issued pursuant to an Indenture dated as of November 26, 2019 (the “Base Indenture”), between the Company and Wells Fargo Bank, National Association, as trustee (the “Trustee”), and a First Supplemental Indenture, dated as of November 26, 2019 (the “First Supplemental Indenture” and together with the Base Indenture, the “Indenture”), between the Company and the Trustee. The 2024 Notes will mature on November 26, 2024, unless repurchased or redeemed in accordance with their terms prior to such date. The 2024 Notes bear interest at a rate of 4.625% per year payable semi-annually on May 26 and November 26 of each year, commencing on May 26, 2020. The 2024 Notes are the Company’s direct, general unsecured obligations and rank senior in right of payment to all of the Company’s future indebtedness or other obligations that are expressly subordinated, or junior, in right of payment to the 2024 Notes. The 2024 Notes rank pari passu, or equal, in right of payment with all of the Company’s existing and future indebtedness or other obligations that are not so subordinated. The 2024 Notes are effectively subordinated, or junior, to any of the Company’s future secured indebtedness or other obligations (including unsecured indebtedness that the Company later secures) to the extent of the value of the assets securing such indebtedness. The 2024 Notes are structurally subordinated, or junior, to all existing and future indebtedness and other obligations (including trade payables) incurred by the Company’s subsidiaries, financing vehicles or similar facilities. The Indenture contains certain covenants, including covenants requiring us to (i) comply with the asset coverage requirements of the Investment Company Act of 1940, as amended, whether or not it is subject to those requirements, and (ii) provide financial information to the holders of the 2024 Notes and the Trustee if the Company is no longer subject to the reporting requirements under the Securities Exchange Act of 1934, as amended. These covenants are subject to important limitations and exceptions that are described in the Indenture. In addition, if a change of control repurchase event, as defined in the Indenture, occurs prior to maturity, holders of the 2024 Notes will have the right, at their option, to require the Company to repurchase for cash some or all of the 2024 Notes at a repurchase price equal to 100% of the aggregate principal amount of the 2024 Notes being repurchased, plus accrued and unpaid interest to, but excluding, the repurchase date. |
Commitment and Contingencies
Commitment and Contingencies | 3 Months Ended |
Mar. 31, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Portfolio Company Commitments From time to time, the Company may enter into commitments to fund investments. As of the following periods, the Company had the below outstanding commitments to fund investments in current portfolio companies: Portfolio Company Investment March 31, 2023 December 31, 2022 ($ in thousands) 3ES Innovation Inc. (dba Aucerna) First lien senior secured revolving loan $ 387 $ 387 AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC LLC Interest 2,265 2,500 AAM Series 2.1 Aviation Feeder, LLC LLC Interest 2,391 2,424 ABB/Con-cise Optical Group LLC First lien senior secured revolving loan 5 5 Adenza Group, Inc. First lien senior secured delayed draw term loan 2,276 2,276 Adenza Group, Inc. First lien senior secured revolving loan 3,496 3,496 AmSpec Group, Inc. (fka AmSpec Services Inc.) First lien senior secured revolving loan 2,154 1,938 Anaplan, Inc. First lien senior secured revolving loan 972 972 Apex Service Partners, LLC First lien senior secured revolving loan 25 19 Apptio, Inc. First lien senior secured revolving loan 49 196 Aramsco, Inc. First lien senior secured revolving loan 417 835 Ascend Buyer, LLC (dba PPC Flexible Packaging) First lien senior secured revolving loan 79 79 Portfolio Company Investment March 31, 2023 December 31, 2022 Associations, Inc. First lien senior secured delayed draw term loan 238 300 Associations, Inc. First lien senior secured revolving loan 6,146 6,146 Bayshore Intermediate #2, L.P. (dba Boomi) First lien senior secured revolving loan 991 826 BCPE Osprey Buyer, Inc. (dba PartsSource) First lien senior secured delayed draw term loan 345 345 BCPE Osprey Buyer, Inc. (dba PartsSource) First lien senior secured revolving loan 40 52 BCTO BSI Buyer, Inc. (dba Buildertrend) First lien senior secured revolving loan 1,527 1,527 BP Veraison Buyer, LLC (dba Sun World) First lien senior secured delayed draw term loan 6,081 6,081 BP Veraison Buyer, LLC (dba Sun World) First lien senior secured revolving loan 1,824 1,824 BradyIFS Holdings, LLC (fka Individual Foodservice Holdings, LLC) First lien senior secured revolving loan 4,529 4,529 Brightway Holdings, LLC First lien senior secured revolving loan 368 526 Catalis Intermediate, Inc. (fka GovBrands Intermediate, Inc.) First lien senior secured delayed draw term loan 259 259 Catalis Intermediate, Inc. (fka GovBrands Intermediate, Inc.) First lien senior secured revolving loan 19 19 Centrify Corporation First lien senior secured revolving loan 673 — CivicPlus, LLC First lien senior secured revolving loan 213 213 Denali BuyerCo, LLC (dba Summit Companies) First lien senior secured delayed draw term loan — 72 Denali BuyerCo, LLC (dba Summit Companies) First lien senior secured revolving loan 125 125 Diamondback Acquisition, Inc. (dba Sphera) First lien senior secured delayed draw term loan 166 166 Douglas Products and Packaging Company LLC First lien senior secured revolving loan 448 448 EET Buyer, Inc. (dba e-Emphasys) First lien senior secured revolving loan 91 91 Entertainment Benefits Group, LLC First lien senior secured revolving loan 89 44 Evolution BuyerCo, Inc. (dba SIAA) First lien senior secured revolving loan 2,230 2,230 Forescout Technologies, Inc. First lien senior secured delayed draw term loan 6,825 6,825 Forescout Technologies, Inc. First lien senior secured revolving loan — 700 Fortis Solutions Group, LLC First lien senior secured delayed draw term loan — 3 Fortis Solutions Group, LLC First lien senior secured revolving loan 78 78 Gainsight, Inc. First lien senior secured revolving loan 872 872 Galls, LLC First lien senior secured revolving loan 2,508 2,802 Gaylord Chemical Company, L.L.C. First lien senior secured revolving loan 2,609 2,609 Gerson Lehrman Group, Inc. First lien senior secured revolving loan 2,039 2,039 GI Ranger Intermediate, LLC (dba Rectangle Health) First lien senior secured revolving loan 66 66 Global Music Rights, LLC First lien senior secured revolving loan 83 83 H&F Opportunities LUX III S.À R.L (dba Checkmarx) First lien senior secured revolving loan 4,583 4,583 Hercules Borrower, LLC (dba The Vincit Group) First lien senior secured revolving loan 2,986 2,986 HGH Purchaser, Inc. (dba Horizon Services) First lien senior secured delayed draw term loan — 712 HGH Purchaser, Inc. (dba Horizon Services) First lien senior secured revolving loan 423 1,459 Hissho Sushi Merger Sub LLC First lien senior secured revolving loan 65 56 Portfolio Company Investment March 31, 2023 December 31, 2022 Hometown Food Company First lien senior secured revolving loan 471 376 Ideal Tridon Holdings, Inc. First lien senior secured revolving loan 418 564 IG Investments Holdings, LLC (dba Insight Global) First lien senior secured revolving loan 723 434 Indigo Buyer, Inc. (dba Inovar Packaging Group) First lien senior secured delayed draw term loan — 250 Indigo Buyer, Inc. (dba Inovar Packaging Group) First lien senior secured revolving loan 83 83 Integrity Marketing Acquisition, LLC First lien senior secured revolving loan 1,868 1,868 Interoperability Bidco, Inc. (dba Lyniate) First lien senior secured revolving loan 790 326 Kaseya Inc. First lien senior secured delayed draw term loan 32 32 Kaseya Inc. First lien senior secured revolving loan 32 32 Lazer Spot Holdings, Inc. (f/k/a Lazer Spot GB Holdings, Inc.) First lien senior secured revolving loan 7,542 7,542 Lignetics Investment Corp. First lien senior secured delayed draw term loan — 1,225 Lignetics Investment Corp. First lien senior secured revolving loan 686 588 Litera Bidco LLC First lien senior secured revolving loan 1,013 734 Mario Purchaser, LLC (dba Len the Plumber) First lien senior secured delayed draw term loan 195 195 Mario Purchaser, LLC (dba Len the Plumber) First lien senior secured revolving loan 55 55 MHE Intermediate Holdings, LLC (dba OnPoint Group) First lien senior secured revolving loan 1,536 1,536 Milan Laser Holdings LLC First lien senior secured revolving loan 1,961 1,961 MINDBODY, Inc. First lien senior secured revolving loan 1,071 1,071 Ministry Brands Holdings, LLC First lien senior secured delayed draw term loan 197 226 Ministry Brands Holdings, LLC First lien senior secured revolving loan 51 34 National Dentex Labs LLC (fka Barracuda Dental LLC) First lien senior secured revolving loan 258 31 Natural Partners, LLC First lien senior secured revolving loan 68 68 Nelipak Holding Company First lien senior secured USD revolving loan 577 752 Nelipak Holding Company First lien senior secured EUR revolving loan 648 535 NMI Acquisitionco, Inc. (dba Network Merchants) First lien senior secured delayed draw term loan 406 406 NMI Acquisitionco, Inc. (dba Network Merchants) First lien senior secured revolving loan 218 218 Norvax, LLC (dba GoHealth) First lien senior secured revolving loan 2,727 2,727 Notorious Topco, LLC (dba Beauty Industry Group) First lien senior secured delayed draw term loan 1,408 1,408 Notorious Topco, LLC (dba Beauty Industry Group) First lien senior secured revolving loan 1,690 1,761 OB Hospitalist Group, Inc. First lien senior secured revolving loan 1,798 1,915 Ocala Bidco, Inc. First lien senior secured delayed draw term loan 4,499 4,499 Pacific BidCo Inc. First lien senior secured delayed draw term loan 191 191 Patriot Acquisition TopCo S.A.R.L (dba Corza Health, Inc.) First lien senior secured revolving loan 2,654 2,086 Peter C. Foy & Associates Insurance Services, LLC (dba PCF Insurance Services) First lien senior secured revolving loan 1,035 1,035 Portfolio Company Investment March 31, 2023 December 31, 2022 Plasma Buyer LLC (dba PathGroup) First lien senior secured delayed draw term loan 177 177 Plasma Buyer LLC (dba PathGroup) First lien senior secured revolving loan 76 76 Pluralsight, LLC First lien senior secured revolving loan 647 647 Project Power Buyer, LLC (dba PEC-Veriforce) First lien senior secured revolving loan 563 563 QAD, Inc. First lien senior secured revolving loan 571 571 Quva Pharma, Inc. First lien senior secured revolving loan 402 615 Relativity ODA LLC First lien senior secured revolving loan 1,480 1,480 Sara Lee Frozen Bakery, LLC (fka KSLB Holdings, LLC) First lien senior secured revolving loan 153 220 Securonix, Inc. First lien senior secured revolving loan 153 153 SimpliSafe Holding Corporation First lien senior secured delayed draw term loan 103 103 Smarsh Inc. First lien senior secured delayed draw term loan 96 96 Smarsh Inc. First lien senior secured revolving loan 6 48 Sonny's Enterprises LLC First lien senior secured revolving loan 2,630 2,630 Swipe Acquisition Corporation (dba PLI) First lien senior secured delayed draw term loan 772 772 Swipe Acquisition Corporation (dba PLI) Letter of Credit 882 882 SWK BUYER, Inc. (dba Stonewall Kitchen) First lien senior secured delayed draw term loan 175 175 SWK BUYER, Inc. (dba Stonewall Kitchen) First lien senior secured revolving loan 30 46 Tahoe Finco, LLC First lien senior secured revolving loan 1,744 1,744 Tamarack Intermediate, L.L.C. (dba Verisk 3E) First lien senior secured revolving loan 94 92 Tempo Buyer Corp. (dba Global Claims Services) First lien senior secured delayed draw term loan 198 198 Tempo Buyer Corp. (dba Global Claims Services) First lien senior secured revolving loan 67 91 The Shade Store, LLC First lien senior secured revolving loan 68 164 THG Acquisition, LLC (dba Hilb) First lien senior secured revolving loan 1,559 1,871 Thunder Purchaser, Inc. (dba Vector Solutions) First lien senior secured delayed draw term loan 1,502 1,502 Thunder Purchaser, Inc. (dba Vector Solutions) First lien senior secured revolving loan 305 540 Troon Golf, L.L.C. First lien senior secured revolving loan 4,685 4,685 Ultimate Baked Goods Midco, LLC First lien senior secured revolving loan 1,750 1,475 Unified Women's Healthcare, LP First lien senior secured delayed draw term loan 15 33 Unified Women's Healthcare, LP First lien senior secured revolving loan 88 88 USRP Holdings, Inc. (dba U.S. Retirement and Benefits Partners) First lien senior secured revolving loan 183 183 Valence Surface Technologies LLC First lien senior secured revolving loan 12 12 Velocity HoldCo III Inc. (dba VelocityEHS) First lien senior secured revolving loan 294 294 Walker Edison Furniture Company LLC First lien senior secured delayed draw term loan 562 — When I Work, Inc. First lien senior secured revolving loan 129 143 WU Holdco, Inc. (dba Weiman Products, LLC) First lien senior secured revolving loan 1,690 1,690 Total Unfunded Portfolio Company Commitments $ 124,817 $ 127,646 As of March 31, 2023, the Company believed they had adequate financial resources to satisfy the unfunded portfolio company commitments. Organizational and Offering Costs The Adviser has incurred organization and offering costs on behalf of the Company in the amount of $12.4 million for the period from October 15, 2015 (Inception) to March 31, 2023, of which $12.4 million has been charged to the Company pursuant to the Investment Advisory Agreement. Under the Investment Advisory Agreement and Administration Agreement, the Adviser is entitled to receive up to 1.5% of gross offering proceeds raised in the Company’s continuous public offering until all organization and offering costs paid by the Adviser have been recovered. Other Commitments and Contingencies From time to time, the Company may become a party to certain legal proceedings incidental to the normal course of its business. As of March 31, 2023, management was not aware of any material pending or threatened litigation that would require accounting recognition or financial statement disclosure. |
Net Assets
Net Assets | 3 Months Ended |
Mar. 31, 2023 | |
Equity [Abstract] | |
Net Assets | Net Assets Share Issuances The Company currently has the authority to issue 450,000,000 common shares at $0.01 per share par value. Prior to its continuous public offering, the Company issued 100 shares of common stock to the Adviser and 277,788 shares of its common stock to certain individuals and entities affiliated with the Adviser in a private placement. The Company issued 151,364,239 shares of common stock in its continuous public offering prior to its termination on April 30, 2021. The table below summarizes transactions with respect to shares of the Company’s common stock during the following periods: March 31, 2023 March 31, 2022 ($ in thousands, except share amounts) Shares Amount Shares Amount Reinvestment of distributions 1,263,143 $ 11,229 1,171,526 $ 10,481 Repurchased Shares (2,595,339) (23,098) (1,730,010) (15,362) Total shares/net proceeds (1,332,196) $ (11,869) (558,484) $ (4,881) Prior to the termination of the Company’s continuous public offering, in the event of a material decline in its net asset value per share, the Company’s Board reduced the offering price in order to establish a new net offering price per share. The Company will not sell shares at a net offering price below the net asset value per share unless the Company obtains the requisite approval from its shareholders. The changes to the Company’s offering price per share since the commencement of the Company’s initial continuous public offering and associated approval and effective dates of such changes were as follows: Approval Date Effective Date Gross Offering Price Per Share Net Offering Price Per Share Initial Offering Price April 4, 2017 $ 9.47 $ 9.00 May 2, 2017 May 3, 2017 $ 9.52 $ 9.04 January 17, 2018 January 17, 2018 $ 9.53 $ 9.05 January 31, 2018 January 31, 2018 $ 9.55 $ 9.07 July 18, 2018 July 18, 2018 $ 9.56 $ 9.08 October 9, 2018 October 10, 2018 $ 9.57 $ 9.09 January 22, 2019 January 23, 2019 $ 9.46 $ 8.99 February 19, 2019 February 20, 2019 $ 9.51 $ 9.03 February 27, 2019 February 27, 2019 $ 9.52 $ 9.04 April 3, 2019 April 3, 2019 $ 9.54 $ 9.06 April 9, 2019 April 10, 2019 $ 9.55 $ 9.07 July 3, 2019 July 3, 2019 $ 9.56 $ 9.08 October 9, 2019 October 9, 2019 $ 9.49 $ 9.02 January 15, 2020 January 15, 2020 $ 9.51 $ 9.03 March 10, 2020 March 11, 2020 $ 9.41 $ 8.94 March 18, 2020 March 18, 2020 $ 8.83 $ 8.39 March 25, 2020 March 25, 2020 $ 8.74 $ 8.30 April 15, 2020 April 15, 2020 $ 8.80 $ 8.36 April 22, 2020 April 22, 2020 $ 8.85 $ 8.41 May 19, 2020 May 20, 2020 $ 8.87 $ 8.43 May 27, 2020 May 27, 2020 $ 8.93 $ 8.48 June 2, 2020 June 3, 2020 $ 8.96 $ 8.51 June 9, 2020 June 10, 2020 $ 9.02 $ 8.57 June 16, 2020 June 17, 2020 $ 9.05 $ 8.60 July 14, 2020 July 15, 2020 $ 9.08 $ 8.63 July 22, 2020 July 22, 2020 $ 9.12 $ 8.66 July 29, 2020 July 29, 2020 $ 9.14 $ 8.68 August 19, 2020 August 19, 2020 $ 9.16 $ 8.70 August 26, 2020 August 26, 2020 $ 9.18 $ 8.72 September 9, 2020 September 9, 2020 $ 9.21 $ 8.75 September 23, 2020 September 23, 2020 $ 9.24 $ 8.78 December 23, 2020 December 23, 2020 $ 9.32 $ 8.85 January 6, 2021 January 6, 2021 $ 9.37 $ 8.90 March 23, 2021 March 24, 2021 $ 9.42 $ 8.95 The Company determined not to file additional post-effective amendments to its registration statement and terminated its offering as of April 30, 2021. Subsequent to April 30, 2021, shares issued pursuant to the dividend reinvestment plan were issued as follows: Date of Issuance Record Date Number of Shares Purchase Price May 26, 2021 May 25, 2021 364,726 $ 8.93 June 30, 2021 June 29, 2021 450,718 $ 8.99 July 28, 2021 July 27, 2021 392,202 $ 8.95 August 25, 2021 August 24, 2021 389,897 $ 8.95 September 29, 2021 September 28, 2021 384,273 $ 9.00 October 27, 2021 October 26, 2021 387,954 $ 8.96 November 24, 2021 November 23, 2021 389,853 $ 8.95 December 29, 2021 December 28, 2021 387,939 $ 9.00 January 26, 2022 January 25, 2022 389,571 $ 8.98 February 23, 2022 February 22, 2022 390,759 $ 8.98 March 30, 2022 March 29, 2022 391,196 $ 8.88 April 27, 2022 April 26, 2022 392,301 $ 8.88 May 25, 2022 May 24, 2022 393,757 $ 8.87 June 29, 2022 June 28, 2022 395,352 $ 8.69 July 27, 2022 July 26, 2022 398,628 $ 8.66 August 31, 2022 August 30, 2022 396,093 $ 8.74 September 28, 2022 September 27, 2022 390,703 $ 8.77 October 26, 2022 October 25, 2022 391,492 $ 8.77 November 15, 2022 September 20, 2022 58,594 $ 8.77 November 30, 2022 November 29, 2022 390,290 $ 8.76 December 28, 2022 December 27, 2022 380,728 $ 8.86 February 1, 2023 January 31, 2023 379,272 $ 8.89 February 2, 2023 December 31, 2022 126,215 $ 8.89 March 1, 2023 February 28, 2023 380,932 $ 8.88 March 29, 2023 March 28, 2023 376,723 $ 8.90 Distributions The Board has authorized and declared weekly distribution amounts per share of common stock through June 30, 2021, and monthly and/or quarterly distribution amounts per share of common stock in each case thereafter, payable monthly and/or quarterly in arrears. The following table presents cash distributions per share that were declared during the three months ended March 31, 2023: Distributions ($ in thousands) Dividend Per Share Amount 2023 March 31, 2023 (three record dates) Monthly $ 0.15 $ 22,125 March 31, 2023 (one record date) Quarterly 0.02 2,429 Total $ 0.17 $ 24,554 The following table presents cash distributions per share that were declared during the three months ended March 31, 2022: Distributions ($ in thousands) Per Share Per Share Amount 2022 March 31, 2022 (three record dates) Monthly $ 0.15 $ 22,847 Total $ 0.15 $ 22,847 On January 25, 2022, the Board declared regular monthly distributions for January 2022 through March 2022. The regular monthly cash distributions, each in the gross amount of $0.050180 per share, will be payable monthly to shareholders of record as of the monthly record date. On February 23, 2022, the Board declared regular monthly distributions for April 2022 through June 2022. The regular monthly cash distributions, each in the gross amount of $0.050180 per share, will be payable monthly to shareholders of record as of the monthly record date. On March 30, 2022, the Board declared a regular quarterly distribution payable on or before April 28, 2022 to shareholders of record as of March 31, 2022, equal to 100% of the Company's investment company taxable income and net capital gains for the taxable quarter, to the extent such amount exceeds $0.15054 per share, but is less than or equal to $0.167271 per share. For the quarter ended March 31, 2022, we recorded distributions in the gross amount of $0.15054 per share. On February 21, 2023, the Board declared regular monthly distributions for April 2023 through June 2023. The regular monthly cash distributions, each in the gross amount of $0.050180 per share, will be payable monthly to shareholders of record as of the monthly record date. On February 21, 2023, the Board declared a regular quarterly distribution payable on or before May 15, 2023 to shareholders of record as of March 31, 2023, equal to 100% of the Company's investment company taxable income and net capital gains for the taxable quarter, to the extent such amount exceeds $0.15054 per share, but is less than or equal to $0.167271 per share. For the quarter ended March 31, 2023, we recorded distributions in the gross amount of $0.167271 per share. With respect to distributions, the Company has adopted an “opt-in” dividend reinvestment plan for common shareholders pursuant to which shareholders that have "opted-in" may have the full amount of any cash distribution reinvested in additional shares of the Company's common stock based on the net offering price per share calculated as if the Company's offering had not been terminated. As a result, in the event of a declared distribution, each shareholder that has not “opted-in” to the dividend reinvestment plan will have their dividends or distributions automatically received in cash rather than reinvested in additional shares of the Company’s common stock. Shareholders who receive distributions in the form of shares of common stock will be subject to the same U.S. federal, state and local tax consequences as if they received cash distributions. The Company may fund its cash distributions to shareholders from any source of funds available to the Company, including but not limited to offering proceeds, net investment income from operations, capital gains proceeds from the sale of assets, dividends or other distributions paid to it on account of preferred and common equity investments in portfolio companies and expense support from the Adviser, which is subject to recoupment. In no event, however, will funds be advanced or borrowed for the purpose of distributions, if the amount of such distributions would exceed the Company’s accrued and received revenues for the previous four quarters, less paid and accrued operating expenses with respect to such revenues and costs. Through March 31, 2023, a portion of the Company’s distributions resulted from expense support from the Adviser, and future distributions may result from expense support from the Adviser, each of which is subject to repayment by the Company within three years from the date of payment. The purpose of this arrangement is to avoid distributions being characterized as a return of capital for U.S. federal income tax purposes. Shareholders should understand that any such distribution is not based on the Company’s investment performance, and can only be sustained if the Company achieves positive investment performance in future periods and/or the Adviser continues to provide expense support. Shareholders should also understand that the Company’s future repayments of expense support will reduce the distributions that they would otherwise receive. There can be no assurance that the Company will achieve the performance necessary to sustain these distributions, or be able to pay distributions at all. Sources of distributions, other than net investment income and realized gains on a U.S. GAAP basis, include required adjustments to U.S. GAAP net investment income in the current period to determine taxable income available for distributions. The tables below reflect the sources of cash distributions on a U.S. GAAP basis that the Company has declared on its shares of common stock during the following periods: Three Months Ended March 31, 2023 Source of Distribution Per Share Amount Percentage ($ in thousands, except per share amounts) Net investment income $ 0.18 $ 26,888 109.5 % Net realized gain on investments — — — Distributions in excess of (undistributed) net investment income and realized gains (0.01) (2,334) (9.5) Total $ 0.17 $ 24,554 100.0 % Three Months Ended March 31, 2022 Source of Distribution Per Share Amount Percentage ($ in thousands, except per share amounts) Net investment income $ 0.16 $ 22,984 100.6 % Net realized gain (loss) on investments (1) — 740 3.2 Distributions in excess of (undistributed) net investment income and realized gains (0.01) (877) (3.8) Total $ 0.15 $ 22,847 100.0 % ______________ (1) The per share amounts round to less than $0.01 per share. Share Repurchases In the third quarter of 2017, the Company began offering, and on a quarterly basis, intends to continue offering, to repurchase shares of the Company’s common stock on such terms as may be determined by the Board in its complete discretion. The Board has complete discretion to determine whether the Company will engage in any share repurchase, and if so, the terms of such repurchase. At the discretion of the Board, the Company may use cash on hand, cash available from borrowings, and cash from the sale of investments as of the end of the applicable period to repurchase shares. All shares purchased by the Company pursuant to the terms of each offer to repurchase will be retired and thereafter will be authorized and unissued shares. Any periodic repurchase offers are subject in part to the Company’s available cash and compliance with the BDC and RIC qualification and diversification rules promulgated under the 1940 Act and the Code, respectively. While the Company intends to continue to conduct quarterly tender offers as described above, the Company is not required to do so and may suspend or terminate the share repurchase program at any time. Offer Date Tender Offer Expiration Tender Offer Purchase Price per Share Shares Repurchased March 9, 2020 April 3, 2020 $ 21,398,616 $ 8.30 1,462,441 May 26, 2020 June 22, 2020 $ 16,280,933 $ 8.60 600,204 August 24, 2020 September 21, 2020 $ 21,493,631 $ 8.78 1,797,979 November 16, 2020 December 14, 2020 $ 16,153,577 $ 8.78 794,091 March 10, 2021 April 6, 2021 $ 18,995,153 $ 8.95 1,945,553 June 1, 2021 June 28, 2021 $ 19,621,539 $ 8.99 2,182,596 August 30, 2021 September 27, 2021 $ 11,911,588 $ 9.00 1,323,510 November 29, 2021 December 27, 2021 $ 11,859,682 $ 9.00 1,317,742 March 1, 2022 March 28, 2022 $ 15,362,486 $ 8.88 1,730,010 May 27, 2022 June 27, 2022 $ 25,733,988 $ 8.69 2,961,334 August 29, 2022 September 26, 2022 $ 23,067,664 $ 8.77 2,630,292 November 28, 2022 December 23, 2022 $ 20,458,302 $ 8.86 2,309,063 February 28, 2023 March 27, 2023 $ 23,098,513 $ 8.90 2,595,339 |
Earnings Per Share
Earnings Per Share | 3 Months Ended |
Mar. 31, 2023 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Earnings Per Share The table below sets forth the computation of basic and diluted earnings per common share for the following periods: Three Months Ended March 31, ($ in thousands, except per share amounts) 2023 2022 Increase (decrease) in net assets resulting from operations $ 31,335 $ 10,005 Weighted average shares of common stock outstanding—basic and diluted 146,892,513 151,788,770 Earnings per common share-basic and diluted $ 0.21 $ 0.07 |
Income Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2023 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The Company has elected to be treated as a RIC under Subchapter M of the Code, and intends to operate in a manner so as to continue to qualify for the tax treatment applicable to RICs. To qualify for tax treatment as a RIC, the Company must, among other things, distribute to its shareholders in each taxable year generally at least 90% of the Company’s investment company taxable income, as defined by the Code, and net tax-exempt income for that taxable year. To maintain tax treatment as a RIC, the Company, among other things, intends to make the requisite distributions to its shareholders, which generally relieves the Company from corporate-level U.S. federal income taxes. Depending on the level of taxable income earned in a tax year, the Company can be expected to carry forward taxable income (including net capital gains, if any) in excess of current year dividend distributions from the current tax year into the next tax year and pay a nondeductible 4% U.S. federal excise tax on such taxable income, as required. To the extent that the Company determines that its estimated current year annual taxable income will be in excess of estimated current year dividend distributions from such income, the Company will accrue excise tax on estimated excess taxable income. For the three months ended March 31, 2023 and 2022, the Company recorded U.S. federal income tax expense/(benefit) of $0.9 million and $0.3 million, respectively, including U.S. federal excise tax expense/(benefit) of $0.3 million for the three months ended March 31, 2023 and no U.S. federal excise tax expense/(benefit) for the three months ended March 31, 2022. Taxable Subsidiaries Certain of the Company’s consolidated subsidiaries are subject to U.S. federal and state corporate-level income taxes. For the three months ended March 31, 2023 and 2022, the Company recorded a tax expense of approximately $0.6 million and $0.3 million, respectively, for taxable subsidiaries. |
Financial Highlights
Financial Highlights | 3 Months Ended |
Mar. 31, 2023 | |
Investment Company [Abstract] | |
Financial Highlights | Financial Highlights The below are the financial highlights for a common share outstanding during the following periods: For the Three Months Ended March 31, ($ in thousands, except share and per share amounts) 2023 2022 Per share data: Net asset value, at beginning of period $ 8.85 $ 8.98 Results of operations: Net investment income (1) 0.18 0.16 Net realized and unrealized gain (loss) (4) 0.03 (0.09) Net increase (decrease) in net assets resulting from operations 0.21 0.07 Shareholder distributions: Distributions from net investment income (2) (0.18) (0.16) Distributions from net realized gains (2) — — (7) Undistributed (distributions in excess of) net investment income and net realized gains (2) 0.01 0.01 Net increase (decrease) in net assets from shareholders' distributions (0.17) (0.15) Net asset value, at end of period $ 8.89 $ 8.90 Total Return (5)(8) 2.2 % 0.6 % Ratios Ratio of net expenses to average net assets (3)(6) 12.5 % 7.5 % Ratio of net investment income to average net assets (6) 8.3 % 6.8 % Portfolio turnover rate 0.8 % 2.7 % Supplemental Data Weighted-average shares outstanding 146,892,513 151,788,770 Shares outstanding, end of period 145,173,088 150,818,035 Net assets, end of period 1,291,173 1,341,968 ______________ (1) The per share data was derived using the weighted average shares during the period. (2) The per share data was derived using actual shares outstanding at the date of the relevant transaction. (3) Operating expenses may vary in the future based on the amount of capital raised, the Adviser’s election to continue expense support, and other unpredictable variables. For the three months ended March 31, 2023 and 2022, the total operating expenses to average net assets were 10.7% and 7.5%, respectively, prior to expense support provided by the Adviser, expense recoupment paid to the Adviser, and management and incentive fee waivers, if any. Past performance is not a guarantee of future results. (4) The amount shown at this caption is the balancing amount derived from the other figures in the schedule. The amount shown at this caption for a share outstanding throughout the year may not agree with the change in the aggregate gains and losses in portfolio securities for the year because of the timing of sales of the Company’s shares in relation to fluctuating market values for the portfolio. (5) Total return is calculated as the change in net asset value (“NAV”) per share (assuming dividends and distributions, if any, are reinvested in accordance with the Company’s dividend reinvestment plan), if any, divided by the beginning NAV per share (which for the purposes of this calculation is equal to the net offering price in effect at that time). (6) The ratio reflects an annualized amount, except in the case of non-recurring expenses (e.g. initial organization expenses). (7) The per share amount rounds to less than $0.01 per share. (8) Total return is not annualized. An investment in the Company is subject to a maximum upfront sales load of 5% of the offering price, which will reduce the amount of capital available for investment. Total return displayed is net of all fees, including all operating expenses such as management fees, incentive fees, general and administrative expenses, organization and amortized offering expenses, and interest expenses. |
Subsequent Events
Subsequent Events | 3 Months Ended |
Mar. 31, 2023 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent Events On April 4, 2023, the parties to the SPV Asset Facility II amended the SPV Asset Facility II to, among other things: (i) extend the reinvestment period from April 14, 2023 to April 14, 2025, (ii) extend the stated maturity from April 14, 2030 to April 4, 2033, (iii) incorporate compliance with the transparency and reporting requirements contained in Article 7 of Regulation (EU) 2017/2402 and (iv) change the margin from 2.50% to 2.75% per annum. On May 9, 2023, the Board declared regular monthly distributions for July 2023 through September 2023. The regular monthly cash distributions, each in the gross amount of $0.050180 per share, will be payable monthly to shareholders of record as of the monthly record date. |
N-2
N-2 - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | |||||
Mar. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cover [Abstract] | |||||||
Entity Central Index Key | 0001655887 | ||||||
Amendment Flag | false | ||||||
Securities Act File Number | 814-01219 | ||||||
Document Type | 10-Q | ||||||
Entity Registrant Name | Owl Rock Capital Corp II | ||||||
Entity Address, Address Line One | 399 Park Avenue | ||||||
Entity Address, City or Town | New York | ||||||
Entity Address, State or Province | NY | ||||||
Entity Address, Postal Zip Code | 10022 | ||||||
City Area Code | 212 | ||||||
Local Phone Number | 419-3000 | ||||||
Entity Emerging Growth Company | false | ||||||
Financial Highlights [Abstract] | |||||||
Senior Securities [Table Text Block] | Information about our senior securities is shown in the following table as of March 31, 2023 and the fiscal years ended December 31, 2021, 2020, 2019, 2018 and 2017. Class and Period Total Amount Outstanding Exclusive of Treasury Securities (1) ($ in millions) Asset Coverage per Unit (2) Involuntary Liquidating Preference per Unit (3) Average Market Value per Unit (4) Promissory Note (5) December 31, 2020 $ — $ — $ — N/A December 31, 2019 $ — $ 2,687 $ — N/A December 31, 2018 $ — $ 2,397 $ — N/A December 31, 2017 $ — $ 4,969 $ — N/A SPV Asset Facility I March 31, 2023 (unaudited) $ 394.2 $ 2,278 $ — N/A December 31, 2022 $ 374.2 $ 2,288 $ — N/A December 31, 2021 $ 412.2 $ 2,213 $ — N/A December 31, 2020 $ 365.1 $ 2,416 $ — N/A December 31, 2019 $ 265.7 $ 2,687 $ — N/A December 31, 2018 $ 302.5 $ 2,397 $ — N/A December 31, 2017 $ 20.0 $ 4,969 $ — N/A SPV Asset Facility II March 31, 2023 (unaudited) $ 155.0 $ 2,278 $ — N/A December 31, 2022 $ 176.0 $ 2,288 $ — N/A December 31, 2021 $ 255.0 $ 2,213 $ — N/A December 31, 2020 $ 191.0 $ 2,416 $ — N/A 2024 Notes March 31, 2023 (unaudited) $ 450.0 $ 2,278 $ — N/A December 31, 2022 $ 450.0 $ 2,288 $ — N/A December 31, 2021 $ 450.0 $ 2,213 $ — N/A December 31, 2020 $ 350.0 $ 2,416 $ — N/A December 31, 2019 $ 300.0 $ 2,687 $ — N/A _____________________ (1) Total amount of each class of senior securities outstanding at the end of the period presented. (2) Asset coverage per unit is the ratio of the carrying value of our total assets, less all liabilities excluding indebtedness represented by senior securities in this table, to the aggregate amount of senior securities representing indebtedness. Asset coverage per unit is expressed in terms of dollar amounts per $1,000 of indebtedness and is calculated on a consolidated basis. (3) The amount to which such class of senior security would be entitled upon our involuntary liquidation in preference to any security junior to it. The "—" in this column indicates information that the SEC expressly does not require to be disclosed for certain types of senior securities. (4) Not applicable because the senior securities are not registered for public trading. | ||||||
Senior Securities Averaging Method, Note [Text Block] | Not applicable because the senior securities are not registered for public trading. | ||||||
Senior Securities Headings, Note [Text Block] | Total amount of each class of senior securities outstanding at the end of the period presented. (2) Asset coverage per unit is the ratio of the carrying value of our total assets, less all liabilities excluding indebtedness represented by senior securities in this table, to the aggregate amount of senior securities representing indebtedness. Asset coverage per unit is expressed in terms of dollar amounts per $1,000 of indebtedness and is calculated on a consolidated basis. (3) The amount to which such class of senior security would be entitled upon our involuntary liquidation in preference to any security junior to it. The "—" in this column indicates information that the SEC expressly does not require to be disclosed for certain types of senior securities. | ||||||
General Description of Registrant [Abstract] | |||||||
Investment Objectives and Practices [Text Block] | Our Investment Framework We are a Maryland corporation organized primarily to originate and make loans to, and make debt and equity investments in, U.S. middle-market companies. Our investment objective is to generate current income, and to a lesser extent, capital appreciation by targeting investment opportunities with favorable risk-adjusted returns. Since our Adviser and its affiliates began investment activities in April 2016 through March 31, 2023, our Adviser and its affiliates have originated $74.5 billion aggregate principal amount of investments, of which $71.0 billion aggregate principal amount of investments prior to any subsequent exits or repayments, was retained by either us or a corporation or fund advised by our Adviser or its affiliates. We seek to participate in transactions sponsored by what we believe to be high-quality private equity and venture capital firms capable of providing both operational and financial resources. We seek to generate current income primarily in U.S. middle-market companies through direct originations of senior secured loans or originations of unsecured loans, subordinated loans or mezzanine loans, broadly syndicated loans and, to a lesser extent, investments in equity and equity-related securities including warrants, preferred stock and similar forms of senior equity. Our equity investments are typically not control-oriented investments and we may structure such equity investments to include provisions protecting our rights as a minority-interest holder. We define “middle-market companies” generally to mean companies with earnings before interest expense, income tax expense, depreciation and amortization, or “EBITDA,” between $10 million and $250 million annually and/or annual revenue of $50 million to $2.5 billion at the time of investment, although we may on occasion invest in smaller or larger companies if an opportunity presents itself. We generally seek to invest in companies with a loan-to-value ratio of 50% or below. We expect that generally our portfolio composition will be majority debt or income producing securities, which may include “covenant-lite” loans (as defined below), with a lesser allocation to equity or equity-linked opportunities, including publicly traded debt instruments, which we may hold directly or through special purposes vehicles. In addition, we may invest a portion of our portfolio in opportunistic investments and broadly syndicated loans, which will not be our primary focus, but will be intended to enhance returns to our shareholders and from time to time, we may evaluate and enter into strategic portfolio transactions which may result in additional portfolio companies which we are considered to control. These investments may include high-yield bonds and broadly-syndicated loans, including publicly traded debt instruments, which are typically originated and structured by banks on behalf of large corporate borrowers with employee counts, revenues, EBITDAs and enterprise values larger than those of middle-market companies, and equity investments in portfolio companies that make senior secured loans or invest in broadly syndicated loans or structured products, such as life settlements and royalty interests. Our portfolio composition may fluctuate from time to time based on market conditions and interest rates; however, we seek to invest not more than 20% of our portfolio in any single industry classification and target portfolio companies that comprise 1-2% of our portfolio (with no individual portfolio company generally expected to comprise greater than 5% of our portfolio). Covenants are contractual restrictions that lenders place on companies to limit the corporate actions a company may pursue. Generally, the loans in which we expect to invest will have financial maintenance covenants, which are used to proactively address materially adverse changes in a portfolio company’s financial performance. However, to a lesser extent, we may invest in “covenant-lite” loans. We use the term “covenant-lite” to refer generally to loans that do not have a complete set of financial maintenance covenants. Generally, “covenant-lite” loans provide borrower companies more freedom to negatively impact lenders because their covenants are incurrence-based, which means they are only tested and can only be breached following an affirmative action of the borrower, rather than by a deterioration in the borrower’s financial condition. Accordingly, to the extent we invest in “covenant-lite” loans, we may have fewer rights against a borrower and may have a greater risk of loss on such investments as compared to investments in or exposure to loans with financial maintenance covenants. We target portfolio companies where we can structure larger transactions. As of March 31, 2023, our average investment size in each of our portfolio companies was approximately $14.0 million based on fair value. As of March 31, 2023, excluding certain investments that fall outside our typical borrower profile, our portfolio companies representing 81.6% of our total debt portfolio based on fair value, had weighted average annual revenue of $797 million, weighted average annual EBITDA of $169 million and an average interest coverage of 2.2x. The companies in which we invest use our capital to support their growth, acquisitions, market or product expansion, refinancings and/or recapitalizations. The debt in which we invest typically is not rated by any rating agency, but if these instruments were rated, they would likely receive a rating of below investment grade (that is, below BBB- or Baa3), which is often referred to as “high yield” or “junk”. A majority of our new investments are indexed to the Secured Overnight Financing Rate (“SOFR”); however we have material contracts that are indexed to USD-London Interbank Offered Rate (“LIBOR”) and are monitoring this activity, evaluating the related risks and our exposure, and adding alternative language to contracts, where necessary. Certain contracts have an orderly market transition already in process. However, it is not possible to predict the effect of any of these developments, and any future initiatives to regulate, reform or change the manner of administration of LIBOR could result in adverse consequences to the rate of interest payable and receivable on, market value of and market liquidity for LIBOR-based financial instruments. | ||||||
Risk Factors [Table Text Block] | Risk Factors. In addition to the other information set forth in this report, you should carefully consider the risk factors discussed in Part I, “ ITEM 1A. RISK FACTORS ” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022, which could materiality affect our business, financial condition and/or operating results. The risks described in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022 are not the only risks facing us. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially and adversely affect our business, financial condition and/or operating results. Global economic, political and market conditions, including uncertainty about the financial stability of the United States, could have a significant adverse effect on our business, financial condition and results of operations. The current worldwide financial markets situation, as well as various social, political, economic and other conditions and events (including political tensions in the United States and around the world, wars and other forms of conflict, terrorist acts, security operations and catastrophic events such as fires, floods, earthquakes, tornadoes, hurricanes and global health epidemics), may contribute to increased market volatility, may have long term effects on the United States and worldwide financial markets, and may cause economic uncertainties or deterioration in the United States and worldwide. As global systems, economies and financial markets are increasingly interconnected, events that once had only local impact are now more likely to have regional or even global effects. Events that occur in one country, region or financial market will, more frequently, adversely impact issuers in other countries, regions or markets, including in established markets such as the United States. We and our portfolio companies may also be subject to risk arising from a default by one of several large institutions that are dependent on one another to meet their liquidity or operational needs, so that a default by one institution may cause a series of defaults by the other institutions. This is sometimes referred to as “systemic risk” and may adversely affect financial intermediaries with which we interact in the conduct of our business. These impacts can be exacerbated by failures of governments and societies to adequately respond to an emerging event or threat. Uncertainty can result in or coincide with, among other things: increased volatility in the financial markets for securities, derivatives, loans, credit and currency; a decrease in the reliability of market prices and difficulty in valuing assets (including portfolio company assets); greater fluctuations in spreads on debt investments and currency exchange rates; increased risk of default (by both government and private obligors and issuers); further social, economic, and political instability; nationalization of private enterprise; greater governmental involvement in the economy or in social factors that impact the economy; changes to governmental regulation and supervision of the loan, securities, derivatives and currency markets and market participants and decreased or revised monitoring of such markets by governments or self-regulatory organizations and reduced enforcement of regulations; limitations on the activities of investors in such markets; controls or restrictions on foreign investment, capital controls and limitations on repatriation of invested capital; the significant loss of liquidity and the inability to purchase, sell and otherwise fund investments or settle transactions (including, but not limited to, a market freeze); unavailability of currency hedging techniques; substantial, and in some periods extremely high rates of inflation, which can last many years and have substantial negative effects on credit and securities markets as well as the economy as a whole; recessions; and difficulties in obtaining and/or enforcing legal judgments. For example, the COVID-19 pandemic continues to adversely impact global commercial activity and has contributed to significant volatility in financial markets. In addition, the war between Russia and Ukraine, and resulting market volatility, could adversely affect our business, financial condition or results of operations. In response to the war between Russia and Ukraine, the United States and other countries have imposed sanctions or other restrictive actions against Russia. The ongoing war and the measures in response could have a negative impact on the economy and business activity globally and could have a material adverse effect on our portfolio companies and our business, financial condition, cash flows and results of operations. The severity and duration of the war and its impact on global economic and market conditions are impossible to predict. In addition, sanctions could also result in Russia taking counter measures or retaliatory actions which could adversely impact our business or the business of our portfolio companies, including, but not limited to, cyberattacks targeting private companies, individuals or other infrastructure upon which our business and the business of our portfolio companies rely. Any of the above factors, including sanctions, export controls, tariffs, trade wars and other governmental actions, could have a material adverse effect on our business, financial condition, cash flows and results of operations and could cause the market value of our common shares and/or debt securities to decline. We monitor developments and seek to manage our investments in a manner consistent with achieving our investment objective, but there can be no assurance that we will be successful in doing so. | ||||||
Capital Stock, Long-Term Debt, and Other Securities [Abstract] | |||||||
Long Term Debt [Table Text Block] | SPV Asset Facilities Certain of our wholly owned subsidiaries are parties to credit facilities (the “SPV Asset Facilities”). Pursuant to the SPV Asset Facilities, we sell and contribute certain investments to these wholly owned subsidiaries pursuant to sale and contribution agreements by and between us and the wholly owned subsidiaries. No gain or loss is recognized as a result of these contributions. Proceeds from the SPV Asset Facilities are used to finance the origination and acquisition of eligible assets by the wholly owned subsidiary, including the purchase of such assets from us. We retain a residual interest in assets contributed to or acquired to the wholly owned subsidiary through our ownership of the wholly owned subsidiary. The SPV Asset Facilities are secured by a perfected first priority security interest in the assets of these wholly owned subsidiaries and on any payments received by such wholly owned subsidiaries in respect of those assets. Assets pledged to lenders under the SPV Asset Facilities will not be available to pay our debts. The SPV Asset Facilities contain customary covenants, including certain limitations on the incurrence by us of additional indebtedness and on our ability to make distributions to our shareholders, or redeem, repurchase or retire shares of stock, upon the occurrence of certain events, and customary events of default (with customary cure and notice provisions). SPV Asset Facility I On December 1, 2017 (the “SPV Asset Facility I Closing Date”), ORCC II Financing LLC and OR Lending II LLC (collectively, the “Subsidiaries”), each a Delaware limited liability company and a wholly-owned subsidiary of us, entered into a Credit Agreement (the “SPV Asset Facility I”). Parties to the SPV Asset Facility I include ORCC II Financing LLC and OR Lending II LLC, as Borrowers, and the lenders from time to time parties thereto (the “SPV I Lenders”), Goldman Sachs Bank USA as Sole Lead Arranger, Syndication Agent and Administrative Agent, State Street Bank and Trust Company as Collateral Administrator and Collateral Agent and Cortland Capital Market Services LLC as Collateral Custodian. From time to time, the parties to the SPV Asset Facility I have amended the SPV Asset Facility I and the related transaction documents. The summary below reflects the terms of the SPV Asset Facility I as amended from time to time, including by the Third Amended and Restated Credit Agreement, entered into on May 6, 2022, by the parties to the SPV Asset Facility I. From time to time, we sell and contribute certain investments to ORCC II Financing LLC pursuant to a Sale and Contribution Agreement by and between us and ORCC II Financing LLC. No gain or loss will be recognized as a result of these sales and contributions. Proceeds from the SPV Asset Facility I have been and will be used to finance the origination and acquisition of eligible assets by the Subsidiaries, including the purchase of such assets from us. We retain a residual interest in assets contributed to or acquired by the Subsidiaries through our ownership of the Subsidiaries. The maximum principal amount of the SPV Asset Facility I is $500 million; the availability of this amount is subject to a borrowing base test, which is based on the amount of the Subsidiaries’ assets from time to time, and satisfaction of certain conditions, including certain concentration limits. The SPV Asset Facility I provides for a reinvestment period up to and including November 30, 2023. (the “SPV Asset Facility I Commitment Termination Date”). Prior to the SPV Asset Facility I Commitment Termination Date, proceeds received by the Subsidiaries from interest, dividends, or fees on assets must be used to pay expenses and interest on outstanding borrowings, and the excess may be returned to the Company, subject to certain conditions. Proceeds received from principal on assets prior to the SPV Asset Facility I Commitment Termination Date must be used to make quarterly payments of principal on outstanding borrowings. Following the SPV Asset Facility I Commitment Termination Date, proceeds received by the Subsidiaries from interest and principal on collateral assets must be used to make quarterly payments of principal on outstanding borrowings. Subject to certain conditions, between quarterly payment dates prior to and after the SPV Asset Facility I Commitment Termination Date, excess interest proceeds and principal proceeds may be released to the Subsidiaries to make distributions to us. The SPV Asset Facility I will mature on November 30, 2024. Amounts drawn in USD bear interest at Term SOFR plus a 2.40% spread and after a ramp-up period, the spread is also payable on any undrawn amounts. The Company borrows utilizing three-month SOFR rate loans. The SPV Asset Facility I contains customary covenants, including certain financial maintenance covenants, limitations on the activities of the Subsidiaries, including limitations on incurrence of incremental indebtedness, and customary events of default. The SPV Asset Facility I is secured by a perfected first priority security interest in our equity interests in the Subsidiaries and in the assets of the Subsidiaries and on any payments received by the Subsidiaries in respect of those assets. Upon the occurrence of certain value adjustment events relating to the assets securing the SPV Asset Facility I, the Subsidiaries will also be required to provide certain cash collateral. Assets pledged to the SPV I Lenders will not be available to pay our debts. Borrowings of the Subsidiaries are considered our borrowings for purposes of complying with the asset coverage requirements under the 1940 Act. In connection with the SPV Asset Facility I, we entered into a Non-Recourse Carveout Guaranty Agreement on the SPV Asset Facility I Closing Date, which was amended and restated twice on March 11, 2019 and April 29, 2019, with State Street Bank and Trust Company, on behalf of certain secured parties, and Goldman Sachs Bank USA. Pursuant to the Non-Recourse Carveout Guaranty Agreement, we guarantee certain losses, damages, costs, expenses, liabilities, claims and other obligations incurred in connection with certain instances of fraud or bad faith misrepresentation, material encumbrances of certain collateral, misappropriation of certain funds, certain transfers of assets, and the bad faith or willful breach of certain provisions of the SPV Asset Facility I. SPV Asset Facility II On April 14, 2020 (the “SPV Asset Facility II Closing Date”), ORCC II Financing II LLC (“ORCC II Financing II”), a Delaware limited liability company and newly formed subsidiary of us entered into a Credit Agreement (the “SPV Asset Facility II”), with ORCC II Financing II, as Borrower, the lenders from time to time parties thereto (the “SPV II Lenders”), Natixis, New York Branch, as Administrative Agent, State Street Bank and Trust Company as Collateral Agent and Cortland Capital Market Services LLC as Document Custodian. The parties to the SPV Asset Facility II have entered into various amendments, including to increase the maximum principal amount of the SPV Asset Facility II, change the interest rates for amounts drawn in U.S. dollars, to extend the maturity of the SPV Asset Facility II to convert the benchmark rate of the facility from LIBOR to Term SOFR and make certain other changes. The summary below reflects the terms of the SPV Asset Facility II as amended through March 25, 2022. From time to time, we expect to sell and contribute certain investments to ORCC II Financing II pursuant to a Sale and Contribution Agreement by and between us and ORCC II Financing II. No gain or loss will be recognized as a result of these sales and contributions. Proceeds from the SPV Asset Facility II will be used to finance the origination and acquisition of eligible assets by ORCC II Financing II, including the purchase of such assets from us. We retain a residual interest in assets contributed to or acquired by ORCC II Financing II through our ownership of ORCC II Financing II. The maximum principal amount of the SPV Asset Facility II is $325 million; the availability of this amount is subject to an overcollateralization ratio test, which is based on the value of ORCC II Financing II’s assets from time to time, and satisfaction of certain conditions, including an interest coverage ratio test, certain concentration limits and collateral quality tests. The SPV Asset Facility II provides for the ability to (1) draw term loans and (2) draw and redraw revolving loans under the SPV Asset Facility II for a period of up to two years after the SPV Asset Facility II Closing Date unless the revolving commitments are terminated or converted to term loans sooner as provided in the SPV Asset Facility II (the “SPV Asset Facility II Commitment Termination Date”). Unless otherwise terminated, the SPV Asset Facility II will mature on April 14, 2030 (the “SPV Asset Facility II Stated Maturity”). Prior to the SPV Asset Facility II Stated Maturity, proceeds received by ORCC II Financing II from principal and interest, dividends, or fees on assets must be used to pay fees, expenses and interest on outstanding borrowings, and the excess may be returned to us, subject to certain conditions. On the SPV Asset Facility II Stated Maturity, ORCC II Financing II must pay in full all outstanding fees and expenses and all principal and interest on outstanding borrowings, and the excess may be returned to us. Amounts drawn bear interest at Term SOFR (or, in the case of certain lenders that are commercial paper conduits, the lower of their cost of funds and Term SOFR plus 0.25%) plus, (x) with respect to revolving loans, 2.50% and (y) with respect to term loans, 2.50% during the SPV Asset Facility II’s reinvestment period and 2.50% thereafter. From the SPV Asset Facility II Closing Date to the SPV Asset Facility II Commitment Termination Date, there is a commitment fee that steps up during the year after the SPV Closing Date from 0.00% to 0.75% per annum on the undrawn amount, if any, of the revolving commitments in the SPV Asset Facility II. The SPV Asset Facility II contains customary covenants, including certain financial maintenance covenants, limitations on the activities of ORCC II Financing II, including limitations on incurrence of incremental indebtedness, and customary events of default. The SPV Asset Facility II is secured by a perfected first priority security interest in the assets of ORCC II Financing II and on any payments received by ORCC II Financing II in respect of those assets. Assets pledged to the SPV II Lenders will not be available to pay the debts of the Company. Borrowings of ORCC II Financing II are considered our borrowings for purposes of complying with the asset coverage requirements under the 1940 Act. Promissory Note On May 18, 2017, our Board authorized us, as borrower, to enter into a series of promissory notes (the “Promissory Notes”) with our Adviser, as lender, to borrow up to an aggregate of $10 million from our Adviser. On October 19, 2017, our Board increased the approved amount to an aggregate of $15 million. On November 7, 2017, our Board approved a further modification to the Promissory Notes which extended the original maturity date from January 15, 2018 to December 31, 2018. On November 6, 2018, our Board approved an additional modification to the Promissory Notes which further extended the maturity date to December 31, 2019. On October 30, 2019, our Board approved an additional modification to the Promissory Notes which further extended the maturity date to December 31, 2020. On March 2, 2018, our Board increased the approved amount to an aggregate of $20 million. On July 19, 2018, our Board increased the approved amount to an aggregate of $35 million. On March 8, 2019, the Board increased the approved amount to an aggregate of $50 million. On October 30, 2019, the Board approved an additional modification to the Promissory Notes which further extended the maturity date to December 31, 2020. We could re-borrow any amount repaid; however, there was no funding commitment between the Adviser and us. The interest rate on any such borrowing was based on either the rate of interest for a LIBOR-Based Advance or the rate of interest for a Prime-Based Advance under the Loan and Security Agreement, dated as of February 22, 2017, as amended as of August 1, 2017 (as further amended or supplemented from time to time, the “Loan Agreement”), by and among the Adviser, as borrower, and East West Bank. The unpaid principal balance of the Promissory Notes and accrued interest thereon was paid in full on December 15, 2020 and December 31, 2020, respectively and the Promissory Notes matured on December 31, 2020. Borrowed funds were used to leverage our investment portfolio and to make investments in portfolio companies consistent with our investment strategies. 2024 Notes On November 26, 2019, we issued $300 million aggregate principal amount of our 4.625% notes due November 26, 2024 (the “Existing 2024 Notes”) in a private placement in reliance on Section 4(a)(2) of the Securities Act, and for initial resale to qualified institutional buyers pursuant to the exemption from registration provided by Rule 144A promulgated under the Securities Act. On October 21, 2020, we issued an additional $50 million aggregate principal amount of our 4.625% notes due 2024 and on May 5, 2021, we issued an additional $100 million aggregate principal amount of our 4.625% notes due 2024 (collectively, the “Additional 2024 Notes” and together with the Existing 2024 Notes, the “2024 Notes”) in a private placement in reliance on Section 4(a)(2) of the Securities Act, and for initial resale to qualified institutional buyers pursuant to the exemption from registration provided by Rule 144A promulgated under the Securities Act. The Additional 2024 Notes will be treated as a single series with the Existing 2024 Notes and will have the same terms as the Existing 2024 Notes. The 2024 Notes have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration. The 2024 Notes were issued pursuant to an Indenture dated as of November 26, 2019 (the “Base Indenture”), between us and Wells Fargo Bank, National Association, as trustee (the “Trustee”), and a First Supplemental Indenture, dated as of November 26, 2019 (the “First Supplemental Indenture” and together with the Base Indenture, the “Indenture”), between us and the Trustee. The 2024 Notes will mature on November 26, 2024, unless repurchased or redeemed in accordance with their terms prior to such date. The 2024 Notes bear interest at a rate of 4.625% per year payable semi-annually on May 26 and November 26 of each year, commencing on May 26, 2020. The 2024 Notes will be our direct, general unsecured obligations and will rank senior in right of payment to all of our future indebtedness or other obligations that are expressly subordinated, or junior, in right of payment to the 2024 Notes. The 2024 Notes will rank pari passu, or equal, in right of payment with all of our existing and future indebtedness or other obligations that are not so subordinated. The 2024 Notes will rank effectively subordinated, or junior, to any of our future secured indebtedness or other obligations (including unsecured indebtedness that we later secure) to the extent of the value of the assets securing such indebtedness. The 2024 Notes will rank structurally subordinated, or junior, to all existing and future indebtedness and other obligations (including trade payables) incurred by our subsidiaries, financing vehicles or similar facilities. The Indenture contains certain covenants, including covenants requiring us to (i) comply with the asset coverage requirements of the Investment Company Act of 1940, as amended, whether or not it is subject to those requirements, and (ii) provide financial information to the holders of the 2024 Notes and the Trustee if we are no longer subject to the reporting requirements under the Securities Exchange Act of 1934, as amended. These covenants are subject to important limitations and exceptions that are described in the Indenture. In addition, if a change of control repurchase event, as defined in the Indenture, occurs prior to maturity, holders of the 2024 Notes will have the right, at their option, to require us to repurchase for cash some or all of the 2024 Notes at a repurchase price equal to 100% of the aggregate principal amount of the 2024 Notes being repurchased, plus accrued and unpaid interest to, but excluding, the repurchase date. | ||||||
Global Economic, Political and Market Condition Risk [Member] | |||||||
General Description of Registrant [Abstract] | |||||||
Risk [Text Block] | Global economic, political and market conditions, including uncertainty about the financial stability of the United States, could have a significant adverse effect on our business, financial condition and results of operations. The current worldwide financial markets situation, as well as various social, political, economic and other conditions and events (including political tensions in the United States and around the world, wars and other forms of conflict, terrorist acts, security operations and catastrophic events such as fires, floods, earthquakes, tornadoes, hurricanes and global health epidemics), may contribute to increased market volatility, may have long term effects on the United States and worldwide financial markets, and may cause economic uncertainties or deterioration in the United States and worldwide. As global systems, economies and financial markets are increasingly interconnected, events that once had only local impact are now more likely to have regional or even global effects. Events that occur in one country, region or financial market will, more frequently, adversely impact issuers in other countries, regions or markets, including in established markets such as the United States. We and our portfolio companies may also be subject to risk arising from a default by one of several large institutions that are dependent on one another to meet their liquidity or operational needs, so that a default by one institution may cause a series of defaults by the other institutions. This is sometimes referred to as “systemic risk” and may adversely affect financial intermediaries with which we interact in the conduct of our business. These impacts can be exacerbated by failures of governments and societies to adequately respond to an emerging event or threat. Uncertainty can result in or coincide with, among other things: increased volatility in the financial markets for securities, derivatives, loans, credit and currency; a decrease in the reliability of market prices and difficulty in valuing assets (including portfolio company assets); greater fluctuations in spreads on debt investments and currency exchange rates; increased risk of default (by both government and private obligors and issuers); further social, economic, and political instability; nationalization of private enterprise; greater governmental involvement in the economy or in social factors that impact the economy; changes to governmental regulation and supervision of the loan, securities, derivatives and currency markets and market participants and decreased or revised monitoring of such markets by governments or self-regulatory organizations and reduced enforcement of regulations; limitations on the activities of investors in such markets; controls or restrictions on foreign investment, capital controls and limitations on repatriation of invested capital; the significant loss of liquidity and the inability to purchase, sell and otherwise fund investments or settle transactions (including, but not limited to, a market freeze); unavailability of currency hedging techniques; substantial, and in some periods extremely high rates of inflation, which can last many years and have substantial negative effects on credit and securities markets as well as the economy as a whole; recessions; and difficulties in obtaining and/or enforcing legal judgments. For example, the COVID-19 pandemic continues to adversely impact global commercial activity and has contributed to significant volatility in financial markets. In addition, the war between Russia and Ukraine, and resulting market volatility, could adversely affect our business, financial condition or results of operations. In response to the war between Russia and Ukraine, the United States and other countries have imposed sanctions or other restrictive actions against Russia. The ongoing war and the measures in response could have a negative impact on the economy and business activity globally and could have a material adverse effect on our portfolio companies and our business, financial condition, cash flows and results of operations. The severity and duration of the war and its impact on global economic and market conditions are impossible to predict. In addition, sanctions could also result in Russia taking counter measures or retaliatory actions which could adversely impact our business or the business of our portfolio companies, including, but not limited to, cyberattacks targeting private companies, individuals or other infrastructure upon which our business and the business of our portfolio companies rely. Any of the above factors, including sanctions, export controls, tariffs, trade wars and other governmental actions, could have a material adverse effect on our business, financial condition, cash flows and results of operations and could cause the market value of our common shares and/or debt securities to decline. We monitor developments and seek to manage our investments in a manner consistent with achieving our investment objective, but there can be no assurance that we will be successful in doing so. | ||||||
Financial Institution Risk [Member] | |||||||
General Description of Registrant [Abstract] | |||||||
Risk [Text Block] | Our cash and cash equivalents could be adversely affected if the financial institutions in which we hold our cash and cash equivalents fail. We regularly maintain cash balances at third-party financial institutions in excess of the Federal Deposit Insurance Corporation insurance limit. If a depository institution fails to return these deposits or is otherwise subject to adverse conditions in the financial or credit markets, our access to invested cash or cash equivalents could be limited which adversely impact our results of operations or financial condition. | ||||||
Promissory Note [Member] | |||||||
Financial Highlights [Abstract] | |||||||
Senior Securities Amount | $ 0 | $ 0 | $ 0 | $ 0 | |||
Senior Securities Coverage per Unit | $ 0 | $ 2,687 | $ 2,397 | $ 4,969 | |||
SPV Asset Facility I [Member] | |||||||
Financial Highlights [Abstract] | |||||||
Senior Securities Amount | $ 394.2 | $ 374.2 | $ 412.2 | $ 365.1 | $ 265.7 | $ 302.5 | $ 20 |
Senior Securities Coverage per Unit | $ 2,278 | $ 2,288 | $ 2,213 | $ 2,416 | $ 2,687 | $ 2,397 | $ 4,969 |
Capital Stock, Long-Term Debt, and Other Securities [Abstract] | |||||||
Long Term Debt, Title [Text Block] | SPV Asset Facility I | ||||||
Long Term Debt, Structuring [Text Block] | On December 1, 2017 (the “SPV Asset Facility I Closing Date”), ORCC II Financing LLC and OR Lending II LLC (collectively, the “Subsidiaries”), each a Delaware limited liability company and a wholly-owned subsidiary of us, entered into a Credit Agreement (the “SPV Asset Facility I”). Parties to the SPV Asset Facility I include ORCC II Financing LLC and OR Lending II LLC, as Borrowers, and the lenders from time to time parties thereto (the “SPV I Lenders”), Goldman Sachs Bank USA as Sole Lead Arranger, Syndication Agent and Administrative Agent, State Street Bank and Trust Company as Collateral Administrator and Collateral Agent and Cortland Capital Market Services LLC as Collateral Custodian. From time to time, the parties to the SPV Asset Facility I have amended the SPV Asset Facility I and the related transaction documents. The summary below reflects the terms of the SPV Asset Facility I as amended from time to time, including by the Third Amended and Restated Credit Agreement, entered into on May 6, 2022, by the parties to the SPV Asset Facility I. From time to time, we sell and contribute certain investments to ORCC II Financing LLC pursuant to a Sale and Contribution Agreement by and between us and ORCC II Financing LLC. No gain or loss will be recognized as a result of these sales and contributions. Proceeds from the SPV Asset Facility I have been and will be used to finance the origination and acquisition of eligible assets by the Subsidiaries, including the purchase of such assets from us. We retain a residual interest in assets contributed to or acquired by the Subsidiaries through our ownership of the Subsidiaries. The maximum principal amount of the SPV Asset Facility I is $500 million; the availability of this amount is subject to a borrowing base test, which is based on the amount of the Subsidiaries’ assets from time to time, and satisfaction of certain conditions, including certain concentration limits. The SPV Asset Facility I provides for a reinvestment period up to and including November 30, 2023. (the “SPV Asset Facility I Commitment Termination Date”). Prior to the SPV Asset Facility I Commitment Termination Date, proceeds received by the Subsidiaries from interest, dividends, or fees on assets must be used to pay expenses and interest on outstanding borrowings, and the excess may be returned to the Company, subject to certain conditions. Proceeds received from principal on assets prior to the SPV Asset Facility I Commitment Termination Date must be used to make quarterly payments of principal on outstanding borrowings. Following the SPV Asset Facility I Commitment Termination Date, proceeds received by the Subsidiaries from interest and principal on collateral assets must be used to make quarterly payments of principal on outstanding borrowings. Subject to certain conditions, between quarterly payment dates prior to and after the SPV Asset Facility I Commitment Termination Date, excess interest proceeds and principal proceeds may be released to the Subsidiaries to make distributions to us. | ||||||
Long Term Debt, Dividends and Covenants [Text Block] | The SPV Asset Facility I contains customary covenants, including certain financial maintenance covenants, limitations on the activities of the Subsidiaries, including limitations on incurrence of incremental indebtedness, and customary events of default. The SPV Asset Facility I is secured by a perfected first priority security interest in our equity interests in the Subsidiaries and in the assets of the Subsidiaries and on any payments received by the Subsidiaries in respect of those assets. Upon the occurrence of certain value adjustment events relating to the assets securing the SPV Asset Facility I, the Subsidiaries will also be required to provide certain cash collateral. Assets pledged to the SPV I Lenders will not be available to pay our debts. Borrowings of the Subsidiaries are considered our borrowings for purposes of complying with the asset coverage requirements under the 1940 Act. | ||||||
SPV Asset Facility II [Member] | |||||||
Financial Highlights [Abstract] | |||||||
Senior Securities Amount | $ 155 | $ 176 | $ 255 | $ 191 | |||
Senior Securities Coverage per Unit | $ 2,278 | $ 2,288 | $ 2,213 | $ 2,416 | |||
Capital Stock, Long-Term Debt, and Other Securities [Abstract] | |||||||
Long Term Debt, Title [Text Block] | SPV Asset Facility II | ||||||
Long Term Debt, Structuring [Text Block] | On April 14, 2020 (the “SPV Asset Facility II Closing Date”), ORCC II Financing II LLC (“ORCC II Financing II”), a Delaware limited liability company and newly formed subsidiary of us entered into a Credit Agreement (the “SPV Asset Facility II”), with ORCC II Financing II, as Borrower, the lenders from time to time parties thereto (the “SPV II Lenders”), Natixis, New York Branch, as Administrative Agent, State Street Bank and Trust Company as Collateral Agent and Cortland Capital Market Services LLC as Document Custodian. The parties to the SPV Asset Facility II have entered into various amendments, including to increase the maximum principal amount of the SPV Asset Facility II, change the interest rates for amounts drawn in U.S. dollars, to extend the maturity of the SPV Asset Facility II to convert the benchmark rate of the facility from LIBOR to Term SOFR and make certain other changes. The summary below reflects the terms of the SPV Asset Facility II as amended through March 25, 2022. From time to time, we expect to sell and contribute certain investments to ORCC II Financing II pursuant to a Sale and Contribution Agreement by and between us and ORCC II Financing II. No gain or loss will be recognized as a result of these sales and contributions. Proceeds from the SPV Asset Facility II will be used to finance the origination and acquisition of eligible assets by ORCC II Financing II, including the purchase of such assets from us. We retain a residual interest in assets contributed to or acquired by ORCC II Financing II through our ownership of ORCC II Financing II. The maximum principal amount of the SPV Asset Facility II is $325 million; the availability of this amount is subject to an overcollateralization ratio test, which is based on the value of ORCC II Financing II’s assets from time to time, and satisfaction of certain conditions, including an interest coverage ratio test, certain concentration limits and collateral quality tests. The SPV Asset Facility II provides for the ability to (1) draw term loans and (2) draw and redraw revolving loans under the SPV Asset Facility II for a period of up to two years after the SPV Asset Facility II Closing Date unless the revolving commitments are terminated or converted to term loans sooner as provided in the SPV Asset Facility II (the “SPV Asset Facility II Commitment Termination Date”). Unless otherwise terminated, the SPV Asset Facility II will mature on April 14, 2030 (the “SPV Asset Facility II Stated Maturity”). Prior to the SPV Asset Facility II Stated Maturity, proceeds received by ORCC II Financing II from principal and interest, dividends, or fees on assets must be used to pay fees, expenses and interest on outstanding borrowings, and the excess may be returned to us, subject to certain conditions. On the SPV Asset Facility II Stated Maturity, ORCC II Financing II must pay in full all outstanding fees and expenses and all principal and interest on outstanding borrowings, and the excess may be returned to us. | ||||||
Long Term Debt, Dividends and Covenants [Text Block] | The SPV Asset Facility II contains customary covenants, including certain financial maintenance covenants, limitations on the activities of ORCC II Financing II, including limitations on incurrence of incremental indebtedness, and customary events of default. The SPV Asset Facility II is secured by a perfected first priority security interest in the assets of ORCC II Financing II and on any payments received by ORCC II Financing II in respect of those assets. Assets pledged to the SPV II Lenders will not be available to pay the debts of the Company.Borrowings of ORCC II Financing II are considered our borrowings for purposes of complying with the asset coverage requirements under the 1940 Act. | ||||||
Notes 2024 [Member] | |||||||
Financial Highlights [Abstract] | |||||||
Senior Securities Amount | $ 450 | $ 450 | $ 450 | $ 350 | $ 300 | ||
Senior Securities Coverage per Unit | $ 2,278 | $ 2,288 | $ 2,213 | $ 2,416 | $ 2,687 | ||
Two Thousand Twenty-Four Notes [Member] | |||||||
Capital Stock, Long-Term Debt, and Other Securities [Abstract] | |||||||
Long Term Debt, Title [Text Block] | 2024 Notes | ||||||
Long Term Debt, Structuring [Text Block] | On November 26, 2019, we issued $300 million aggregate principal amount of our 4.625% notes due November 26, 2024 (the “Existing 2024 Notes”) in a private placement in reliance on Section 4(a)(2) of the Securities Act, and for initial resale to qualified institutional buyers pursuant to the exemption from registration provided by Rule 144A promulgated under the Securities Act. On October 21, 2020, we issued an additional $50 million aggregate principal amount of our 4.625% notes due 2024 and on May 5, 2021, we issued an additional $100 million aggregate principal amount of our 4.625% notes due 2024 (collectively, the “Additional 2024 Notes” and together with the Existing 2024 Notes, the “2024 Notes”) in a private placement in reliance on Section 4(a)(2) of the Securities Act, and for initial resale to qualified institutional buyers pursuant to the exemption from registration provided by Rule 144A promulgated under the Securities Act. The Additional 2024 Notes will be treated as a single series with the Existing 2024 Notes and will have the same terms as the Existing 2024 Notes. The 2024 Notes have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration. The 2024 Notes were issued pursuant to an Indenture dated as of November 26, 2019 (the “Base Indenture”), between us and Wells Fargo Bank, National Association, as trustee (the “Trustee”), and a First Supplemental Indenture, dated as of November 26, 2019 (the “First Supplemental Indenture” and together with the Base Indenture, the “Indenture”), between us and the Trustee. The 2024 Notes will mature on November 26, 2024, unless repurchased or redeemed in accordance with their terms prior to such date. The 2024 Notes bear interest at a rate of 4.625% per year payable semi-annually on May 26 and November 26 of each year, commencing on May 26, 2020. The 2024 Notes will be our direct, general unsecured obligations and will rank senior in right of payment to all of our future indebtedness or other obligations that are expressly subordinated, or junior, in right of payment to the 2024 Notes. The 2024 Notes will rank pari passu, or equal, in right of payment with all of our existing and future indebtedness or other obligations that are not so subordinated. The 2024 Notes will rank effectively subordinated, or junior, to any of our future secured indebtedness or other obligations (including unsecured indebtedness that we later secure) to the extent of the value of the assets securing such indebtedness. The 2024 Notes will rank structurally subordinated, or junior, to all existing and future indebtedness and other obligations (including trade payables) incurred by our subsidiaries, financing vehicles or similar facilities. | ||||||
Long Term Debt, Dividends and Covenants [Text Block] | The Indenture contains certain covenants, including covenants requiring us to (i) comply with the asset coverage requirements of the Investment Company Act of 1940, as amended, whether or not it is subject to those requirements, and (ii) provide financial information to the holders of the 2024 Notes and the Trustee if we are no longer subject to the reporting requirements under the Securities Exchange Act of 1934, as amended. These covenants are subject to important limitations and exceptions that are described in the Indenture. |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2023 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The Company is an investment company and, therefore, applies the specialized accounting and reporting guidance in Accounting Standards Codification (“ASC”) Topic 946, Financial Services – Investment Companies . In the opinion of management, all adjustments considered necessary for the fair presentation of the consolidated financial statements have been included. The Company’s fiscal year ends on December 31. |
Use of Estimates | Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. 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 consolidated financial statements. Actual amounts could differ from those estimates and such differences could be material. |
Cash | Cash Cash consists of deposits held at a custodian bank. Cash is carried at cost, which approximates fair value. The Company deposits its cash with highly-rated banking corporations and, at times, may exceed the insured limits under applicable law. |
Investments at Fair Value | Investments at Fair Value Investment transactions are recorded on the trade date. Realized gains or losses are measured by the difference between the net proceeds received and the amortized cost basis of the investment using the specific identification method without regard to unrealized gains or losses previously recognized, and include investments charged off during the period, net of recoveries. The net change in unrealized gains or losses primarily reflects the change in investment values, including the reversal of previously recorded unrealized gains or losses with respect to investments realized during the period. Rule 2a-5 under the 1940 Act was adopted by the SEC in January 2021 and establishes requirements for determining fair value in good faith for purposes of the 1940 Act. The Company complied with the mandatory provisions of Rule 2a-5 by the September 2022 compliance date. Additionally, commencing with the fourth quarter of 2022, pursuant to Rule 2a-5, the Board designated the Adviser as the Company's valuation designee to perform fair value determinations relating to the value of assets held by the Company for which market quotations are not readily available. Investments for which market quotations are readily available are typically valued at the average bid price of those market quotations. To validate market quotations, the Company utilizes a number of factors to determine if the quotations are representative of fair value, including the source and number of the quotations. Debt and equity securities that are not publicly traded or whose market prices are not readily available, as is the case for substantially all of the Company’s investments, are valued at fair value as determined in good faith by the Adviser, as the valuation designee, based on, among other things, the input of the independent third-party valuation firm(s) engaged at the direction of the Adviser. As part of the valuation process, the Adviser, as the valuation designee, takes into account relevant factors in determining the fair value of the Company’s investments, including: the estimated enterprise value of a portfolio company (i.e., the total fair value of the portfolio company’s debt and equity), the nature and realizable value of any collateral, the portfolio company’s ability to make payments based on its earnings and cash flow, the markets in which the portfolio company does business, a comparison of the portfolio company’s securities to any similar publicly traded securities, and overall changes in the interest rate environment and the credit markets that may affect the price at which similar investments may be made in the future. When an external event such as a purchase or sale transaction, public offering or subsequent equity sale occurs, the Adviser, as the valuation designee, considers whether the pricing indicated by the external event corroborates its valuation. The Adviser, as the valuation designee, undertakes a multi-step valuation process, which includes, among other procedures, the following: • With respect to investments for which market quotations are readily available, those investments will typically be valued at the average bid price of those market quotations; • With respect to investments for which market quotations are not readily available, the valuation process begins with the independent valuation firm(s) providing a preliminary valuation of each investment to the Adviser’s valuation committee; • Preliminary valuation conclusions are documented and discussed with the Adviser’s valuation committee; • The Adviser, as the valuation designee, reviews the recommended valuations and determines the fair value of each investment; • Each quarter, the Adviser, as the valuation designee, will provide the Audit Committee a summary or description of material fair value matters that occurred in the prior quarter and on an annual basis, the Adviser, as the valuation designee, will provide the Audit Committee with a written assessment of the adequacy and effectiveness of its fair value process; and • The Audit Committee oversees the valuation designee and will report to the Board on any valuation matters requiring the Board’s attention. The Company conducts this valuation process on a quarterly basis. The Company applies Financial Accounting Standards Board Accounting Standards Codification (“FASB”) 820, Fair Value Measurements (“ASC 820”), as amended, which establishes a framework for measuring fair value in accordance with U.S. GAAP and required disclosures of fair value measurements. ASC 820 determines fair value to be the price that would be received for an investment in a current sale, which assumes an orderly transaction between market participants on the measurement date. Market participants are defined as buyers and sellers in the principal or most advantageous market (which may be a hypothetical market) that are independent, knowledgeable, and willing and able to transact. In accordance with ASC 820, the Company considers its principal market to be the market that has the greatest volume and level of activity. ASC 820 specifies a fair value hierarchy that prioritizes and ranks the level of observability of inputs used in determination of fair value. In accordance with ASC 820, these levels are summarized below: • Level 1 – Valuations based on quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. • Level 2 – Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. • Level 3 – Valuations based on inputs that are unobservable and significant to the overall fair value measurement. Transfers between levels, if any, are recognized at the beginning of the period in which the transfer occurs. In addition to using the above inputs in investment valuations, the Company applies the valuation policy approved by its Board that is consistent with ASC 820. Consistent with the valuation policy, the Adviser, as the valuation designee, evaluates the source of the inputs, including any markets in which its investments are trading (or any markets in which securities with similar attributes are trading), in determining fair value. When an investment is valued based on prices provided by reputable dealers or pricing services (such as broker quotes), the Adviser, as the valuation designee, subjects those prices to various criteria in making the determination as to whether a particular investment would qualify for treatment as a Level 2 or Level 3 investment. For example, the Adviser, as the valuation designee, or the independent valuation firm(s), reviews pricing support provided by dealers or pricing services in order to determine if observable market information is being used, versus unobservable inputs. Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the fair value of the Company’s investments may fluctuate from period to period. Additionally, the fair value of such investments may differ significantly from the values that would have been used had a ready market existed for such investments and may differ materially from the values that may ultimately be realized. Further, such investments are generally less liquid than publicly traded securities and may be subject to contractual and other restrictions on resale. If the Company were required to liquidate a portfolio investment in a forced or liquidation sale, it could realize amounts that are different from the amounts presented and such differences could be material. In addition, changes in the market environment and other events that may occur over the life of the investments may cause the gains or losses ultimately realized on these investments to be different than the unrealized gains or losses reflected herein. |
Foreign Currency | Foreign Currency Foreign currency amounts are translated into U.S. dollars on the following basis: • cash, fair value of investments, outstanding debt, other assets and liabilities: at the spot exchange rate on the last business day of the period; and • purchases and sales of investments, borrowings and repayments of such borrowings, income and expenses: at the rates of exchange prevailing on the respective dates of such transactions. The Company includes net changes in fair values on investments held resulting from foreign exchange rate fluctuations with the change in unrealized gains (losses) on translation of assets and liabilities in foreign currencies on the Consolidated Statements of Operations. The Company’s current approach to hedging the foreign currency exposure in its non-U.S. dollar denominated investments is primarily to borrow the par amount in local currency under the Company’s SPV Asset Facilities to fund these investments. Fluctuations arising from the translation of foreign currency borrowings are included with the net change in unrealized gains (losses) on translation of assets and liabilities in foreign currencies on the Consolidated Statements of Operations. |
Interest and Dividend Income Recognition | Interest and Dividend Income Recognition Interest income is recorded on the accrual basis and includes amortization and accretion of discounts or premiums. Certain investments may have contractual payment-in-kind (“PIK”) interest or dividends. PIK interest and dividends represent accrued interest or dividends that are added to the principal amount or liquidation amount of the investment on the respective interest or dividend payment dates rather than being paid in cash and generally becomes due at maturity or at the occurrence of a liquidation event. For the three months ended March 31, 2023, PIK interest and PIK dividend income earned was $8.4 million, representing approximately 12.5% of investment income. For the three months ended March 31, 2022, PIK interest and PIK dividend income earned was $5.0 million, representing approximately 10.3% of investment income. Discounts and premiums to par value on securities purchased are amortized into interest income over the contractual life of the respective security using the effective yield method. The amortized cost of investments represents the original cost adjusted for the amortization and accretion of discounts and premiums, if any. Upon prepayment of a loan or debt security, any prepayment premiums, unamortized upfront loan origination fees and unamortized discounts are recorded as interest income in the current period. Loans are generally placed on non-accrual status when there is reasonable doubt that principal or interest will be collected in full. Accrued interest is generally reversed when a loan is placed on non-accrual status. Interest payments received on non-accrual loans may be recognized as income or applied to principal depending upon management’s judgment regarding collectability. If at any point the Company believes PIK interest is not expected to be realized, the investment generating PIK interest will be placed on non-accrual status. When a PIK investment is placed on non-accrual status, the accrued, uncapitalized interest or dividends are generally reversed through interest income. Non-accrual loans are restored to accrual status when past due principal and interest is paid current and, in management’s judgment, are likely to remain current. Management may make exceptions to this treatment and determine to not place a loan on non-accrual status if the loan has sufficient collateral value and is in the process of collection. Dividend income on preferred equity securities is recorded on the accrual basis to the extent that such amounts are payable by the portfolio company and are expected to be collected. Dividend income on common equity securities is recorded on the record date for private portfolio companies or on the ex-dividend date for publicly-traded portfolio companies. Other Income |
Offering Expenses and Distributions to Common Shareholders | Offering Expenses Costs associated with the offering of common shares of the Company were capitalized as deferred offering expenses and were included in prepaid expenses and other assets in the Consolidated Statements of Assets and Liabilities and are amortized over a twelve-month period from incurrence. These expenses consist primarily of legal fees and other costs incurred in connection with the Company’s continuous public offering of its common shares, the preparation of the Company’s registration statement, and registration fees. All remaining capitalized and unamortized offering expenses were expensed in the prior period in connection with the termination of the Company's offering of common shares as of April 30, 2021. Distributions to Common Shareholders Distributions to common shareholders are recorded on the record date. The amount to be distributed is determined by the Board and is generally based upon the earnings estimated by the Adviser. Net realized long-term capital gains, if any, would be generally distributed at least annually, although the Company may decide to retain such capital gains for investment. The Company has adopted a dividend reinvestment plan that provides for reinvestment of any cash distributions on behalf of shareholders who have “opted in” to the dividend reinvestment plan. As a result, if the Board authorizes and declares a cash distribution, then the shareholders who have “opted in” to the dividend reinvestment plan will have their cash distribution automatically reinvested in additional shares of the Company’s common stock, rather than receiving the cash distribution. The Company expects to use newly issued shares to implement the dividend reinvestment plan. |
Debt Issuance Costs | Debt Issuance Costs The Company records origination and other expenses related to its debt obligations as deferred financing costs. These expenses are deferred and amortized utilizing the effective yield method over the life of the related debt instrument. Debt issuance costs are presented on the Consolidated Statements of Assets and Liabilities as a direct deduction from the debt liability. In circumstances in which there is not an associated debt liability amount recorded in the consolidated financial statements when the debt issuance costs are incurred, such debt issuance costs will be reported on the Consolidated Statements of Assets and Liabilities as an asset until the debt liability is recorded. |
Reimbursement of Transaction-Related Expenses | Reimbursement of Transaction-Related Expenses The Company may receive reimbursement for certain transaction-related expenses in pursuing investments. Transaction-related expenses, which are generally expected to be reimbursed by the Company’s portfolio companies, are typically deferred until the transaction is consummated and are recorded in prepaid expenses and other assets on the date incurred. The costs of successfully completed investments not otherwise reimbursed are borne by the Company and are included as a component of the investment’s cost basis. Cash advances received in respect of transaction-related expenses are recorded as cash with an offset to accrued expenses and other liabilities. Accrued expenses and other liabilities are relieved as reimbursable expenses are incurred. |
Income Taxes | Income Taxes The Company has elected to be treated as a BDC under the 1940 Act. The Company has elected to be treated as a RIC under the Code beginning with the taxable year ended December 31, 2017 and intends to continue to qualify as a RIC. So long as the Company maintains its tax treatment as a RIC, it generally will not pay U.S. federal income taxes at corporate rates on any ordinary income or capital gains that it distributes at least annually to its shareholders as dividends. Instead, any tax liability related to income earned and distributed by the Company represents obligations of the Company’s investors and will not be reflected in the consolidated financial statements of the Company. To qualify as a RIC, the Company must, among other things, meet certain source-of-income and asset diversification requirements. In addition, to qualify for RIC tax treatment, the Company must distribute to its shareholders, for each taxable year, at least 90% of its “investment company taxable income” for that year, which is generally its ordinary income plus the excess of its realized net short-term capital gains over its realized net long-term capital losses. In order for the Company not to be subject to U.S. federal excise taxes, it must distribute annually an amount at least equal to the sum of (i) 98% of its net ordinary income (taking into account certain deferrals and elections) for the calendar year, (ii) 98.2% of its capital gains in excess of capital losses for the one-year period ending on October 31 of the calendar year and (iii) any net ordinary income and capital gains in excess of capital losses for preceding years that were not distributed during such years. The Company, at its discretion, may carry forward taxable income in excess of calendar year dividends and pay a 4% nondeductible U.S. federal excise tax on this income. Certain of the Company’s consolidated subsidiaries are subject to U.S. federal and state corporate-level income taxes. |
Consolidation | Consolidation As provided under Regulation S-X and ASC Topic 946 - Financial Services - Investment Companies, the Company will generally not consolidate its investment in a company other than a wholly-owned investment company or controlled operating company whose business consists of providing services to the Company. Accordingly, the Company consolidated the accounts of the Company's wholly-owned subsidiaries that meet the aforementioned criteria in its consolidated financial statements. All significant intercompany balances and transactions have been eliminated in consolidation. |
New Accounting Pronouncements | New Accounting Pronouncements In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform (Topic 848),” which provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts, hedging relationships, and other transactions that reference London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform. In January 2021, the FASB issued ASU No. 2021-01, “Reference Rate Reform (Topic 848),” which expanded the scope of Topic 848 to include derivative instruments impacted by discounting transition. In December 2022, the FASB issued ASU No. 2022-06, “Reference Rate Reform (Topic 848),” which extended the transition period provided under ASU No. 2020-04 and 2021-01 for all entities from December 31, 2022 to December 31, 2024. In June 2022, the FASB issued ASU No. 2022-03, “Fair Value Measurement (Topic 820),” which clarifies the guidance in Topic 820 when measuring the fair value of an equity security subject to contractual restrictions that prohibit the sale of an equity security and introduces new disclosure requirements for equity securities subject to contractual sale restrictions that are measured at fair value in accordance with Topic 820. The amendments affect all entities that have investments in equity securities measured at fair value that are subject to a contractual sale restriction. ASU 2022-03 is effective for public business entities for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. For all other entities the amendments are effective for fiscal years beginning after December 15, 2024, and interim periods within those fiscal years. Early adoption is permitted for both interim and annual financial statements that have not yet been issued or made available for issuance. An entity that qualifies as an investment company under Topic 946 should apply the amendments in ASU No. 2022-03 to an investment in an equity security subject to a contractual sale restriction that is executed or modified on or after the date of adoption. The Company is currently evaluating the impact of adopting ASU No. 2022-03 on the consolidated financial statements. Other than the aforementioned guidance, the Company’s management does not believe that any recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the accompanying consolidated financial statements. |
Agreements and Related Party _2
Agreements and Related Party Transactions (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Related Party Transactions [Abstract] | |
Summary of All Expenses Supported, And Recouped, By the Adviser | The following table presents a summary of all expenses supported, and recouped, by the Adviser for each of the following three month periods in which the Company received Expense Support from the Adviser and the associated dates through which such expenses may be subject to reimbursement from the Company pursuant to the Expense Support Agreement: For the Quarter Ended Amount of Recoupment Expired Unreimbursed Effective Rate of Distribution per Share (1) Reimbursement Operating Expense Ratio (2) ($ in thousands) June 30, 2017 $ 1,061 $ 1,061 $ — $ — 7.0% N/A 16.81% September 30, 2017 1,023 258 765 — 7.0% September 30, 2020 6.15% December 31, 2017 856 — 856 — 7.0% December 31, 2020 2.83% March 31, 2018 1,871 — 1,871 — 6.9% March 31, 2021 2.27% June 30, 2018 775 — 775 — 6.9% June 30, 2021 1.53% March 31, 2019 1,835 — 1,835 — 7.0% March 31, 2022 0.91% June 30, 2019 1,776 — 1,776 — 7.0% June 30, 2022 0.79% September 30, 2019 1,081 — 1,081 — 7.0% September 30, 2022 0.72% December 31, 2019 2,351 — 2,351 — 7.0% December 31, 2022 0.69% March 31, 2020 6,587 5,857 730 — 7.7% March 31, 2023 0.70% June 30, 2020 5,794 — — 5,794 7.4% June 30, 2023 0.70% September 30, 2020 3,079 — — 3,079 7.2% September 30, 2023 0.63% December 31, 2020 3,216 3,216 — — 6.5% N/A 0.71% March 31, 2021 1,449 — — 1,449 6.4% March 31, 2024 0.60% Total $ 32,754 $ 10,392 $ 12,040 $ 10,322 ______________ (1) The effective rate of distribution per share is expressed as a percentage equal to the projected annualized distribution amount as of the end of the applicable period (which is calculated by annualizing the regular weekly or monthly cash distributions per share as of such date without compounding), divided by the Company’s gross offering price per share as of such date. (2) The operating expense ratio is calculated by dividing operating expenses, less organizational and offering expenses, base management and incentive fees owed to the Adviser, and interest expense, by the Company’s net assets. |
Investments (Tables)
Investments (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Schedule of Investments [Abstract] | |
Schedule of Investments | The table below presents investments at fair value and amortized cost as of the following periods: March 31, 2023 December 31, 2022 ($ in thousands) Amortized Cost Fair Value Amortized Cost Fair Value First-lien senior secured debt investments $ 1,590,717 $ 1,580,257 $ 1,633,375 $ 1,614,367 Second-lien senior secured debt investments 477,237 462,577 484,086 467,560 Unsecured debt investments 38,095 34,915 36,708 32,663 Preferred equity investments 61,993 61,337 59,750 58,678 Common equity investments 60,141 91,952 55,033 86,224 Total Investments $ 2,228,183 $ 2,231,038 $ 2,268,952 $ 2,259,492 The table below presents the industry composition of investments based on fair value as of the following periods: March 31, 2023 December 31, 2022 Advertising and media 0.9 % 0.9 % Aerospace and defense 3.5 3.4 Asset Based Lending and Fund Finance (1) 1.5 1.4 Automotive 1.7 1.6 Buildings and real estate 3.2 4.2 Business services 3.2 3.1 Chemicals 2.6 2.7 Consumer products 4.6 4.5 Containers and packaging 1.4 1.4 Distribution 3.3 3.2 Education 1.2 1.2 Financial services 5.5 5.3 Food and beverage 7.0 7.4 Healthcare equipment and services 4.0 3.9 Healthcare providers and services 5.1 5.0 Healthcare technology 6.1 5.9 Household products 2.4 2.2 Human resource support services 1.4 1.4 Infrastructure and environmental services 0.4 0.4 Insurance (3) 8.1 7.9 Internet software and services 13.8 13.6 Leisure and entertainment 2.7 2.7 Manufacturing 7.1 7.0 Pharmaceuticals (2) 0.1 — Oil and gas 0.6 1.1 Professional services 2.4 2.4 Specialty retail 3.2 3.2 Transportation 3.0 3.0 Total 100.0 % 100.0 % ______________ (1) Includes investments in AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC and AAM Series 2.1 Aviation Feeder, LLC (collectively, “Amergin AssetCo”). (2) Includes investment in LSI Financing 1 DAC (“LSI Financing”). (3) Includes investments in Fifth Season Investment LLC (fka Chapford SMA Partnership, L.P. ("Fifth Season"). The table below presents the geographic composition of investments based on fair value as of the following periods: March 31, 2023 December 31, 2022 United States: Midwest 17.2 % 17.4 % Northeast 18.1 17.6 South 32.7 33.7 West 23.9 23.5 International 8.1 7.8 Total 100.0 % 100.0 % |
Fair Value of Investments (Tabl
Fair Value of Investments (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value Hierarchy of Investments | The tables below present the fair value hierarchy of investments as of the following periods: Fair Value Hierarchy as of March 31, 2023 ($ in thousands) Level 1 Level 2 Level 3 Total First-lien senior secured debt investments $ — $ 73 $ 1,580,184 $ 1,580,257 Second-lien senior secured debt investments — 31,804 430,773 462,577 Unsecured debt investments — — 34,915 34,915 Preferred equity investments — — 61,337 61,337 Common equity investments 246 — 91,706 91,952 Total Investments $ 246 $ 31,877 $ 2,198,915 $ 2,231,038 Fair Value Hierarchy as of December 31, 2022 ($ in thousands) Level 1 Level 2 Level 3 Total First-lien senior secured debt investments $ — $ 1 $ 1,614,366 $ 1,614,367 Second-lien senior secured debt investments — 13,798 453,762 467,560 Unsecured debt investments — 569 32,094 32,663 Preferred equity investments — — 58,678 58,678 Common equity investments 158 — 86,066 86,224 Total Investments $ 158 $ 14,368 $ 2,244,966 $ 2,259,492 |
Schedule of Changes in the Fair Value of Investments | The tables below present changes in the fair value of investments for which Level 3 inputs were used to determine the fair value as of and for the following periods: As of and for the Three Months Ended March 31, 2023 ($ in thousands) First-lien senior secured debt investments Second-lien senior secured debt investments Unsecured debt investments Preferred equity investments Common equity investments Total Fair value, beginning of period $ 1,614,366 $ 453,762 $ 32,094 $ 58,678 $ 86,066 $ 2,244,966 Purchases of investments, net 16,910 (1) (1) 811 328 18,047 Payment-in-kind 3,935 894 1,414 1,391 31 7,665 Proceeds from investments, net (52,382) (8,000) (38) — (2) (60,422) Net change in unrealized gain (loss) on investments 8,546 1,568 865 416 533 11,928 Net realized gain (loss) on investments (7,752) — (5) — — (7,757) Net accretion/amortization of discount/premium on investments 1,381 251 17 41 — 1,690 Transfers between investment types (4,750) — — — 4,750 — Transfers into (out of) Level 3 (1) (70) (17,701) 569 — — (17,202) Fair value, end of period $ 1,580,184 $ 430,773 $ 34,915 $ 61,337 $ 91,706 $ 2,198,915 _____________________ (1) Transfers between levels, if any, are recognized at the beginning of the period in which the transfers occur. For the three months ended March 31, 2023, transfers out of Level 3 were as a result of changes in the observability of significant inputs for certain portfolio companies. As of and for the Three Months Ended March 31, 2022 ($ in thousands) First-lien senior secured debt investments Second-lien senior secured debt investments Unsecured debt investments Preferred equity investments Common equity investments Total Fair value, beginning of period $ 1,784,325 $ 484,500 $ 34,133 $ 49,313 $ 66,395 $ 2,418,666 Purchases of investments, net 49,462 979 986 1,036 1,020 53,483 Payment-in-kind 3,043 577 1,074 712 29 5,435 Proceeds from investments, net (77,798) — — (4,900) — (82,698) Net change in unrealized gain (loss) on investments (7,599) (4,116) (1,038) (792) 605 (12,940) Net realized gain (loss) on investments 23 — — 773 — 796 Net amortization of discount on investments 1,925 189 20 117 — 2,251 Transfers into (out of) Level 3 (1) (73) (26,376) — — — (26,449) Fair value, end of period $ 1,753,308 $ 455,753 $ 35,175 $ 46,259 $ 68,049 $ 2,358,544 _____________________ (1) Transfers between levels, if any, are recognized at the beginning of the period in which the transfers occur. For the three months ended March 31, 2022, transfers out of Level 3 were as a result of changes in the observability of significant inputs for certain portfolio companies. The table below presents information with respect to the net change in unrealized gains (losses) on investments for which Level 3 inputs were used in determining the fair value that are still held by the Company for the following periods: ($ in thousands) Net change in unrealized gain (loss) for the Three Months Ended March 31, 2023 on Investments Held at March 31, 2023 Net change in unrealized gain (loss) for the Three Months Ended March 31, 2022 on Investments Held at March 31, 2022 First-lien senior secured debt investments $ 8,546 $ (6,932) Second-lien senior secured debt investments 1,568 (4,106) Unsecured debt investments 865 (1,039) Preferred equity investments 416 (735) Common equity investments 533 814 Total Investments $ 11,928 $ (11,998) |
Schedule of Quantitative Information About Significant Unobservable Inputs of Level 3 Investments | The tables below present quantitative information about the significant unobservable inputs of the Company’s Level 3 investments as of the following periods. The weighted average range of unobservable inputs is based on fair value of investments. The tables are not intended to be all-inclusive, but instead capture the significant unobservable inputs relevant to the Company’s determination of fair value. As of March 31, 2023 ($ in thousands) Fair Value Valuation Technique Unobservable Input Range (Weighted Average) Impact to Valuation from an Increase in Input First-lien senior secured debt investments $ 1,573,789 Yield Analysis Market Yield 9.1% - 38.3% (12.6%) Decrease 6,395 Recent Transaction Transaction Price 98.0% - 100.0% (98.7%) Increase Second-lien senior secured debt investments $ 429,705 Yield Analysis Market Yield 8.1% - 21.8% (14.3%) Decrease 1,068 Collateral Analysis Recovery Rate 9.5% - 9.5% (9.5%) Increase Unsecured debt investments $ 34,091 Yield Analysis Market Yield 10.7% - 20.5% (12.4%) Decrease 825 Market Approach EBITDA Multiple 13.8x - 13.8x (13.8x) Increase Preferred equity investments $ 60,267 Yield Analysis Market Yield 11.5% - 15.3% (13.9%) Decrease 1,061 Recent Transaction Transaction Price 100.0% - 100.0% (100.0%) Increase 9 Market Approach EBITDA Multiple 12.0x - 12.0x (12.0x) Increase Common equity investments $ 81,846 Market Approach EBITDA Multiple 3.4x - 21.0x (8.1x) Increase 3,478 Market Approach Revenue Multiple 1.9x - 16.0x (10.0x) Increase 6,361 Recent Transaction Transaction Price 100.0% - 100.0% (100.0%) Increase 21 Market Approach Gross Profit Multiple 9.0x - 9.0x (9.0x) Increase As of December 31, 2022 ($ in thousands) Fair Value Valuation Technique Unobservable Input Range (Weighted Average) Impact to Valuation from an Increase in Input First-lien senior secured debt investments $ 1,602,197 Yield Analysis Market Yield 9.1% - 42.0% (13.0%) Decrease 8,789 Collateral Analysis Recovery Rate 51.0% - 51.0% (51.0%) Increase 3,378 Recent Transaction Transaction Price 99.0% - 99.0% (99.0%) Increase Second-lien senior secured debt investments $ 452,695 Yield Analysis Market Yield 12.6% - 21.0% (16.2%) Decrease 1,068 Collateral Analysis Recovery Rate 9.5% - 9.5% (9.5%) Increase Unsecured debt investments $ 31,269 Yield Analysis Market Yield 10.4% - 20.2% (12.4%) Decrease 825 Market Approach EBITDA Multiple 14.3x - 14.3x (14.3x) Increase Preferred equity investments $ 58,361 Yield Analysis Market Yield 11.9% - 17.0% (13.9%) Decrease 309 Recent Transaction Transaction Price 100.0% - 100.0% (100.0%) Increase 9 Market Approach EBITDA Multiple 11.5x - 11.5x (11.5x) Increase Common equity investments $ 81,345 Market Approach EBITDA Multiple 3.8x - 23.3x (8.2x) Increase 3,420 Market Approach Revenue Multiple 1.8x - 16.6x (10.2x) Increase 1,283 Recent Transaction Transaction Price 100.0% - 100.0% (100.0%) Increase 18 Market Approach Gross Profit Multiple 8.6x - 8.6x (8.6x) Increase |
Schedule of Carrying Values and Fair Values of the Company’s Debt Obligations | The table below presents the carrying and fair values of the Company’s debt obligations as of the following periods. March 31, 2023 December 31, 2022 ($ in thousands) Net Carrying Value (1) Fair Value Net Carrying Value (2) Fair Value SPV Asset Facility I $ 394,104 $ 394,104 $ 374,084 $ 374,084 SPV Asset Facility II 151,561 151,561 172,397 172,397 2024 Notes 450,169 432,000 450,192 428,625 Total Debt $ 995,834 $ 977,665 $ 996,673 $ 975,106 ______________ (1) The carrying value of the Company’s SPV Asset Facility I, SPV Asset Facility II, and 2024 Notes are presented net of deferred financing costs of $0.1 million, $3.4 million and $(0.2) million, respectively. (2) The carrying value of the Company’s SPV Asset Facility I, SPV Asset Facility II and 2024 Notes are presented net of deferred financing costs of $0.1 million, $3.6 million and $(0.2) million, respectively. The table below presents fair value measurements of the Company’s debt obligations as of the following periods: ($ in thousands) March 31, 2023 December 31, 2022 Level 1 $ — $ — Level 2 432,000 428,625 Level 3 545,665 546,481 Total Debt $ 977,665 $ 975,106 |
Debt (Tables)
Debt (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Debt Disclosure [Abstract] | |
Schedule of Debt Obligations | Debt obligations consisted of the below as of the following periods: March 31, 2023 ($ in thousands) Aggregate Principal Outstanding Amount Available (1) Net Carrying Value (2) SPV Asset Facility I $ 500,000 $ 394,222 $ 40,340 $ 394,104 SPV Asset Facility II 325,000 155,000 87,204 151,561 2024 Notes 450,000 450,000 — 450,169 Total Debt $ 1,275,000 $ 999,222 $ 127,544 $ 995,834 ______________ (1) The amount available reflects any limitations related to each credit facility’s borrow base. (2) The carrying value of the Company’s SPV Asset Facility I, SPV Asset Facility II and 2024 Notes are presented net of deferred financing costs of $0.1 million, $3.4 million and $(0.2) million, respectively. December 31, 2022 ($ in thousands) Aggregate Principal Outstanding Amount Available (1) Net Carrying Value (2) SPV Asset Facility I $ 500,000 $ 374,222 $ 29,179 $ 374,084 SPV Asset Facility II 325,000 176,000 79,146 172,397 2024 Notes 450,000 450,000 — 450,192 Total Debt $ 1,275,000 $ 1,000,222 $ 108,325 $ 996,673 ______________ (1) The amount available reflects any limitations related to each credit facility’s borrow base. (2) The carrying value of the Company’s SPV Asset Facility I, SPV Asset Facility II and 2024 Notes are presented net of deferred unamortized debt issuance costs of $0.1 million, $3.6 million and $(0.2) million, respectively. |
Schedule of Components of Interest Expense | For the following periods, the components of interest expense were as follows: For the Three Months Ended March 31, ($ in thousands) 2023 2022 Interest expense $ 15,699 $ 9,915 Amortization of debt issuance costs 235 342 Total Interest Expense $ 15,934 $ 10,257 Average interest rate 6.1 % 3.5 % Average daily borrowings $ 998,189 $ 1,098,056 |
Commitment and Contingencies (T
Commitment and Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Outstanding Commitments To Fund Investments | As of the following periods, the Company had the below outstanding commitments to fund investments in current portfolio companies: Portfolio Company Investment March 31, 2023 December 31, 2022 ($ in thousands) 3ES Innovation Inc. (dba Aucerna) First lien senior secured revolving loan $ 387 $ 387 AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC LLC Interest 2,265 2,500 AAM Series 2.1 Aviation Feeder, LLC LLC Interest 2,391 2,424 ABB/Con-cise Optical Group LLC First lien senior secured revolving loan 5 5 Adenza Group, Inc. First lien senior secured delayed draw term loan 2,276 2,276 Adenza Group, Inc. First lien senior secured revolving loan 3,496 3,496 AmSpec Group, Inc. (fka AmSpec Services Inc.) First lien senior secured revolving loan 2,154 1,938 Anaplan, Inc. First lien senior secured revolving loan 972 972 Apex Service Partners, LLC First lien senior secured revolving loan 25 19 Apptio, Inc. First lien senior secured revolving loan 49 196 Aramsco, Inc. First lien senior secured revolving loan 417 835 Ascend Buyer, LLC (dba PPC Flexible Packaging) First lien senior secured revolving loan 79 79 Portfolio Company Investment March 31, 2023 December 31, 2022 Associations, Inc. First lien senior secured delayed draw term loan 238 300 Associations, Inc. First lien senior secured revolving loan 6,146 6,146 Bayshore Intermediate #2, L.P. (dba Boomi) First lien senior secured revolving loan 991 826 BCPE Osprey Buyer, Inc. (dba PartsSource) First lien senior secured delayed draw term loan 345 345 BCPE Osprey Buyer, Inc. (dba PartsSource) First lien senior secured revolving loan 40 52 BCTO BSI Buyer, Inc. (dba Buildertrend) First lien senior secured revolving loan 1,527 1,527 BP Veraison Buyer, LLC (dba Sun World) First lien senior secured delayed draw term loan 6,081 6,081 BP Veraison Buyer, LLC (dba Sun World) First lien senior secured revolving loan 1,824 1,824 BradyIFS Holdings, LLC (fka Individual Foodservice Holdings, LLC) First lien senior secured revolving loan 4,529 4,529 Brightway Holdings, LLC First lien senior secured revolving loan 368 526 Catalis Intermediate, Inc. (fka GovBrands Intermediate, Inc.) First lien senior secured delayed draw term loan 259 259 Catalis Intermediate, Inc. (fka GovBrands Intermediate, Inc.) First lien senior secured revolving loan 19 19 Centrify Corporation First lien senior secured revolving loan 673 — CivicPlus, LLC First lien senior secured revolving loan 213 213 Denali BuyerCo, LLC (dba Summit Companies) First lien senior secured delayed draw term loan — 72 Denali BuyerCo, LLC (dba Summit Companies) First lien senior secured revolving loan 125 125 Diamondback Acquisition, Inc. (dba Sphera) First lien senior secured delayed draw term loan 166 166 Douglas Products and Packaging Company LLC First lien senior secured revolving loan 448 448 EET Buyer, Inc. (dba e-Emphasys) First lien senior secured revolving loan 91 91 Entertainment Benefits Group, LLC First lien senior secured revolving loan 89 44 Evolution BuyerCo, Inc. (dba SIAA) First lien senior secured revolving loan 2,230 2,230 Forescout Technologies, Inc. First lien senior secured delayed draw term loan 6,825 6,825 Forescout Technologies, Inc. First lien senior secured revolving loan — 700 Fortis Solutions Group, LLC First lien senior secured delayed draw term loan — 3 Fortis Solutions Group, LLC First lien senior secured revolving loan 78 78 Gainsight, Inc. First lien senior secured revolving loan 872 872 Galls, LLC First lien senior secured revolving loan 2,508 2,802 Gaylord Chemical Company, L.L.C. First lien senior secured revolving loan 2,609 2,609 Gerson Lehrman Group, Inc. First lien senior secured revolving loan 2,039 2,039 GI Ranger Intermediate, LLC (dba Rectangle Health) First lien senior secured revolving loan 66 66 Global Music Rights, LLC First lien senior secured revolving loan 83 83 H&F Opportunities LUX III S.À R.L (dba Checkmarx) First lien senior secured revolving loan 4,583 4,583 Hercules Borrower, LLC (dba The Vincit Group) First lien senior secured revolving loan 2,986 2,986 HGH Purchaser, Inc. (dba Horizon Services) First lien senior secured delayed draw term loan — 712 HGH Purchaser, Inc. (dba Horizon Services) First lien senior secured revolving loan 423 1,459 Hissho Sushi Merger Sub LLC First lien senior secured revolving loan 65 56 Portfolio Company Investment March 31, 2023 December 31, 2022 Hometown Food Company First lien senior secured revolving loan 471 376 Ideal Tridon Holdings, Inc. First lien senior secured revolving loan 418 564 IG Investments Holdings, LLC (dba Insight Global) First lien senior secured revolving loan 723 434 Indigo Buyer, Inc. (dba Inovar Packaging Group) First lien senior secured delayed draw term loan — 250 Indigo Buyer, Inc. (dba Inovar Packaging Group) First lien senior secured revolving loan 83 83 Integrity Marketing Acquisition, LLC First lien senior secured revolving loan 1,868 1,868 Interoperability Bidco, Inc. (dba Lyniate) First lien senior secured revolving loan 790 326 Kaseya Inc. First lien senior secured delayed draw term loan 32 32 Kaseya Inc. First lien senior secured revolving loan 32 32 Lazer Spot Holdings, Inc. (f/k/a Lazer Spot GB Holdings, Inc.) First lien senior secured revolving loan 7,542 7,542 Lignetics Investment Corp. First lien senior secured delayed draw term loan — 1,225 Lignetics Investment Corp. First lien senior secured revolving loan 686 588 Litera Bidco LLC First lien senior secured revolving loan 1,013 734 Mario Purchaser, LLC (dba Len the Plumber) First lien senior secured delayed draw term loan 195 195 Mario Purchaser, LLC (dba Len the Plumber) First lien senior secured revolving loan 55 55 MHE Intermediate Holdings, LLC (dba OnPoint Group) First lien senior secured revolving loan 1,536 1,536 Milan Laser Holdings LLC First lien senior secured revolving loan 1,961 1,961 MINDBODY, Inc. First lien senior secured revolving loan 1,071 1,071 Ministry Brands Holdings, LLC First lien senior secured delayed draw term loan 197 226 Ministry Brands Holdings, LLC First lien senior secured revolving loan 51 34 National Dentex Labs LLC (fka Barracuda Dental LLC) First lien senior secured revolving loan 258 31 Natural Partners, LLC First lien senior secured revolving loan 68 68 Nelipak Holding Company First lien senior secured USD revolving loan 577 752 Nelipak Holding Company First lien senior secured EUR revolving loan 648 535 NMI Acquisitionco, Inc. (dba Network Merchants) First lien senior secured delayed draw term loan 406 406 NMI Acquisitionco, Inc. (dba Network Merchants) First lien senior secured revolving loan 218 218 Norvax, LLC (dba GoHealth) First lien senior secured revolving loan 2,727 2,727 Notorious Topco, LLC (dba Beauty Industry Group) First lien senior secured delayed draw term loan 1,408 1,408 Notorious Topco, LLC (dba Beauty Industry Group) First lien senior secured revolving loan 1,690 1,761 OB Hospitalist Group, Inc. First lien senior secured revolving loan 1,798 1,915 Ocala Bidco, Inc. First lien senior secured delayed draw term loan 4,499 4,499 Pacific BidCo Inc. First lien senior secured delayed draw term loan 191 191 Patriot Acquisition TopCo S.A.R.L (dba Corza Health, Inc.) First lien senior secured revolving loan 2,654 2,086 Peter C. Foy & Associates Insurance Services, LLC (dba PCF Insurance Services) First lien senior secured revolving loan 1,035 1,035 Portfolio Company Investment March 31, 2023 December 31, 2022 Plasma Buyer LLC (dba PathGroup) First lien senior secured delayed draw term loan 177 177 Plasma Buyer LLC (dba PathGroup) First lien senior secured revolving loan 76 76 Pluralsight, LLC First lien senior secured revolving loan 647 647 Project Power Buyer, LLC (dba PEC-Veriforce) First lien senior secured revolving loan 563 563 QAD, Inc. First lien senior secured revolving loan 571 571 Quva Pharma, Inc. First lien senior secured revolving loan 402 615 Relativity ODA LLC First lien senior secured revolving loan 1,480 1,480 Sara Lee Frozen Bakery, LLC (fka KSLB Holdings, LLC) First lien senior secured revolving loan 153 220 Securonix, Inc. First lien senior secured revolving loan 153 153 SimpliSafe Holding Corporation First lien senior secured delayed draw term loan 103 103 Smarsh Inc. First lien senior secured delayed draw term loan 96 96 Smarsh Inc. First lien senior secured revolving loan 6 48 Sonny's Enterprises LLC First lien senior secured revolving loan 2,630 2,630 Swipe Acquisition Corporation (dba PLI) First lien senior secured delayed draw term loan 772 772 Swipe Acquisition Corporation (dba PLI) Letter of Credit 882 882 SWK BUYER, Inc. (dba Stonewall Kitchen) First lien senior secured delayed draw term loan 175 175 SWK BUYER, Inc. (dba Stonewall Kitchen) First lien senior secured revolving loan 30 46 Tahoe Finco, LLC First lien senior secured revolving loan 1,744 1,744 Tamarack Intermediate, L.L.C. (dba Verisk 3E) First lien senior secured revolving loan 94 92 Tempo Buyer Corp. (dba Global Claims Services) First lien senior secured delayed draw term loan 198 198 Tempo Buyer Corp. (dba Global Claims Services) First lien senior secured revolving loan 67 91 The Shade Store, LLC First lien senior secured revolving loan 68 164 THG Acquisition, LLC (dba Hilb) First lien senior secured revolving loan 1,559 1,871 Thunder Purchaser, Inc. (dba Vector Solutions) First lien senior secured delayed draw term loan 1,502 1,502 Thunder Purchaser, Inc. (dba Vector Solutions) First lien senior secured revolving loan 305 540 Troon Golf, L.L.C. First lien senior secured revolving loan 4,685 4,685 Ultimate Baked Goods Midco, LLC First lien senior secured revolving loan 1,750 1,475 Unified Women's Healthcare, LP First lien senior secured delayed draw term loan 15 33 Unified Women's Healthcare, LP First lien senior secured revolving loan 88 88 USRP Holdings, Inc. (dba U.S. Retirement and Benefits Partners) First lien senior secured revolving loan 183 183 Valence Surface Technologies LLC First lien senior secured revolving loan 12 12 Velocity HoldCo III Inc. (dba VelocityEHS) First lien senior secured revolving loan 294 294 Walker Edison Furniture Company LLC First lien senior secured delayed draw term loan 562 — When I Work, Inc. First lien senior secured revolving loan 129 143 WU Holdco, Inc. (dba Weiman Products, LLC) First lien senior secured revolving loan 1,690 1,690 Total Unfunded Portfolio Company Commitments $ 124,817 $ 127,646 |
Net Assets (Tables)
Net Assets (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Equity [Abstract] | |
Summary of Transactions with Respect to Shares of Common Stock | The table below summarizes transactions with respect to shares of the Company’s common stock during the following periods: March 31, 2023 March 31, 2022 ($ in thousands, except share amounts) Shares Amount Shares Amount Reinvestment of distributions 1,263,143 $ 11,229 1,171,526 $ 10,481 Repurchased Shares (2,595,339) (23,098) (1,730,010) (15,362) Total shares/net proceeds (1,332,196) $ (11,869) (558,484) $ (4,881) |
Schedule of Changes in Offering Price Per Share | Offer Date Tender Offer Expiration Tender Offer Purchase Price per Share Shares Repurchased March 9, 2020 April 3, 2020 $ 21,398,616 $ 8.30 1,462,441 May 26, 2020 June 22, 2020 $ 16,280,933 $ 8.60 600,204 August 24, 2020 September 21, 2020 $ 21,493,631 $ 8.78 1,797,979 November 16, 2020 December 14, 2020 $ 16,153,577 $ 8.78 794,091 March 10, 2021 April 6, 2021 $ 18,995,153 $ 8.95 1,945,553 June 1, 2021 June 28, 2021 $ 19,621,539 $ 8.99 2,182,596 August 30, 2021 September 27, 2021 $ 11,911,588 $ 9.00 1,323,510 November 29, 2021 December 27, 2021 $ 11,859,682 $ 9.00 1,317,742 March 1, 2022 March 28, 2022 $ 15,362,486 $ 8.88 1,730,010 May 27, 2022 June 27, 2022 $ 25,733,988 $ 8.69 2,961,334 August 29, 2022 September 26, 2022 $ 23,067,664 $ 8.77 2,630,292 November 28, 2022 December 23, 2022 $ 20,458,302 $ 8.86 2,309,063 February 28, 2023 March 27, 2023 $ 23,098,513 $ 8.90 2,595,339 |
Schedule of Shares Distributed Pursuant to the Dividend Reinvestment Plan | Subsequent to April 30, 2021, shares issued pursuant to the dividend reinvestment plan were issued as follows: Date of Issuance Record Date Number of Shares Purchase Price May 26, 2021 May 25, 2021 364,726 $ 8.93 June 30, 2021 June 29, 2021 450,718 $ 8.99 July 28, 2021 July 27, 2021 392,202 $ 8.95 August 25, 2021 August 24, 2021 389,897 $ 8.95 September 29, 2021 September 28, 2021 384,273 $ 9.00 October 27, 2021 October 26, 2021 387,954 $ 8.96 November 24, 2021 November 23, 2021 389,853 $ 8.95 December 29, 2021 December 28, 2021 387,939 $ 9.00 January 26, 2022 January 25, 2022 389,571 $ 8.98 February 23, 2022 February 22, 2022 390,759 $ 8.98 March 30, 2022 March 29, 2022 391,196 $ 8.88 April 27, 2022 April 26, 2022 392,301 $ 8.88 May 25, 2022 May 24, 2022 393,757 $ 8.87 June 29, 2022 June 28, 2022 395,352 $ 8.69 July 27, 2022 July 26, 2022 398,628 $ 8.66 August 31, 2022 August 30, 2022 396,093 $ 8.74 September 28, 2022 September 27, 2022 390,703 $ 8.77 October 26, 2022 October 25, 2022 391,492 $ 8.77 November 15, 2022 September 20, 2022 58,594 $ 8.77 November 30, 2022 November 29, 2022 390,290 $ 8.76 December 28, 2022 December 27, 2022 380,728 $ 8.86 February 1, 2023 January 31, 2023 379,272 $ 8.89 February 2, 2023 December 31, 2022 126,215 $ 8.89 March 1, 2023 February 28, 2023 380,932 $ 8.88 March 29, 2023 March 28, 2023 376,723 $ 8.90 |
Schedule of Distributions Declared | The following table presents cash distributions per share that were declared during the three months ended March 31, 2023: Distributions ($ in thousands) Dividend Per Share Amount 2023 March 31, 2023 (three record dates) Monthly $ 0.15 $ 22,125 March 31, 2023 (one record date) Quarterly 0.02 2,429 Total $ 0.17 $ 24,554 The following table presents cash distributions per share that were declared during the three months ended March 31, 2022: Distributions ($ in thousands) Per Share Per Share Amount 2022 March 31, 2022 (three record dates) Monthly $ 0.15 $ 22,847 Total $ 0.15 $ 22,847 Three Months Ended March 31, 2023 Source of Distribution Per Share Amount Percentage ($ in thousands, except per share amounts) Net investment income $ 0.18 $ 26,888 109.5 % Net realized gain on investments — — — Distributions in excess of (undistributed) net investment income and realized gains (0.01) (2,334) (9.5) Total $ 0.17 $ 24,554 100.0 % Three Months Ended March 31, 2022 Source of Distribution Per Share Amount Percentage ($ in thousands, except per share amounts) Net investment income $ 0.16 $ 22,984 100.6 % Net realized gain (loss) on investments (1) — 740 3.2 Distributions in excess of (undistributed) net investment income and realized gains (0.01) (877) (3.8) Total $ 0.15 $ 22,847 100.0 % ______________ (1) The per share amounts round to less than $0.01 per share. |
Schedule Of Changes In Offering Price Per Share | The changes to the Company’s offering price per share since the commencement of the Company’s initial continuous public offering and associated approval and effective dates of such changes were as follows: Approval Date Effective Date Gross Offering Price Per Share Net Offering Price Per Share Initial Offering Price April 4, 2017 $ 9.47 $ 9.00 May 2, 2017 May 3, 2017 $ 9.52 $ 9.04 January 17, 2018 January 17, 2018 $ 9.53 $ 9.05 January 31, 2018 January 31, 2018 $ 9.55 $ 9.07 July 18, 2018 July 18, 2018 $ 9.56 $ 9.08 October 9, 2018 October 10, 2018 $ 9.57 $ 9.09 January 22, 2019 January 23, 2019 $ 9.46 $ 8.99 February 19, 2019 February 20, 2019 $ 9.51 $ 9.03 February 27, 2019 February 27, 2019 $ 9.52 $ 9.04 April 3, 2019 April 3, 2019 $ 9.54 $ 9.06 April 9, 2019 April 10, 2019 $ 9.55 $ 9.07 July 3, 2019 July 3, 2019 $ 9.56 $ 9.08 October 9, 2019 October 9, 2019 $ 9.49 $ 9.02 January 15, 2020 January 15, 2020 $ 9.51 $ 9.03 March 10, 2020 March 11, 2020 $ 9.41 $ 8.94 March 18, 2020 March 18, 2020 $ 8.83 $ 8.39 March 25, 2020 March 25, 2020 $ 8.74 $ 8.30 April 15, 2020 April 15, 2020 $ 8.80 $ 8.36 April 22, 2020 April 22, 2020 $ 8.85 $ 8.41 May 19, 2020 May 20, 2020 $ 8.87 $ 8.43 May 27, 2020 May 27, 2020 $ 8.93 $ 8.48 June 2, 2020 June 3, 2020 $ 8.96 $ 8.51 June 9, 2020 June 10, 2020 $ 9.02 $ 8.57 June 16, 2020 June 17, 2020 $ 9.05 $ 8.60 July 14, 2020 July 15, 2020 $ 9.08 $ 8.63 July 22, 2020 July 22, 2020 $ 9.12 $ 8.66 July 29, 2020 July 29, 2020 $ 9.14 $ 8.68 August 19, 2020 August 19, 2020 $ 9.16 $ 8.70 August 26, 2020 August 26, 2020 $ 9.18 $ 8.72 September 9, 2020 September 9, 2020 $ 9.21 $ 8.75 September 23, 2020 September 23, 2020 $ 9.24 $ 8.78 December 23, 2020 December 23, 2020 $ 9.32 $ 8.85 January 6, 2021 January 6, 2021 $ 9.37 $ 8.90 March 23, 2021 March 24, 2021 $ 9.42 $ 8.95 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Earnings Per Share [Abstract] | |
Schedule of Computation for Basic and Diluted Earnings Per Common Share | The table below sets forth the computation of basic and diluted earnings per common share for the following periods: Three Months Ended March 31, ($ in thousands, except per share amounts) 2023 2022 Increase (decrease) in net assets resulting from operations $ 31,335 $ 10,005 Weighted average shares of common stock outstanding—basic and diluted 146,892,513 151,788,770 Earnings per common share-basic and diluted $ 0.21 $ 0.07 |
Financial Highlights (Tables)
Financial Highlights (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Investment Company [Abstract] | |
Summary of Financial Highlights of Common Share Outstanding | The below are the financial highlights for a common share outstanding during the following periods: For the Three Months Ended March 31, ($ in thousands, except share and per share amounts) 2023 2022 Per share data: Net asset value, at beginning of period $ 8.85 $ 8.98 Results of operations: Net investment income (1) 0.18 0.16 Net realized and unrealized gain (loss) (4) 0.03 (0.09) Net increase (decrease) in net assets resulting from operations 0.21 0.07 Shareholder distributions: Distributions from net investment income (2) (0.18) (0.16) Distributions from net realized gains (2) — — (7) Undistributed (distributions in excess of) net investment income and net realized gains (2) 0.01 0.01 Net increase (decrease) in net assets from shareholders' distributions (0.17) (0.15) Net asset value, at end of period $ 8.89 $ 8.90 Total Return (5)(8) 2.2 % 0.6 % Ratios Ratio of net expenses to average net assets (3)(6) 12.5 % 7.5 % Ratio of net investment income to average net assets (6) 8.3 % 6.8 % Portfolio turnover rate 0.8 % 2.7 % Supplemental Data Weighted-average shares outstanding 146,892,513 151,788,770 Shares outstanding, end of period 145,173,088 150,818,035 Net assets, end of period 1,291,173 1,341,968 ______________ (1) The per share data was derived using the weighted average shares during the period. (2) The per share data was derived using actual shares outstanding at the date of the relevant transaction. (3) Operating expenses may vary in the future based on the amount of capital raised, the Adviser’s election to continue expense support, and other unpredictable variables. For the three months ended March 31, 2023 and 2022, the total operating expenses to average net assets were 10.7% and 7.5%, respectively, prior to expense support provided by the Adviser, expense recoupment paid to the Adviser, and management and incentive fee waivers, if any. Past performance is not a guarantee of future results. (4) The amount shown at this caption is the balancing amount derived from the other figures in the schedule. The amount shown at this caption for a share outstanding throughout the year may not agree with the change in the aggregate gains and losses in portfolio securities for the year because of the timing of sales of the Company’s shares in relation to fluctuating market values for the portfolio. (5) Total return is calculated as the change in net asset value (“NAV”) per share (assuming dividends and distributions, if any, are reinvested in accordance with the Company’s dividend reinvestment plan), if any, divided by the beginning NAV per share (which for the purposes of this calculation is equal to the net offering price in effect at that time). (6) The ratio reflects an annualized amount, except in the case of non-recurring expenses (e.g. initial organization expenses). (7) The per share amount rounds to less than $0.01 per share. (8) Total return is not annualized. An investment in the Company is subject to a maximum upfront sales load of 5% of the offering price, which will reduce the amount of capital available for investment. Total return displayed is net of all fees, including all operating expenses such as management fees, incentive fees, general and administrative expenses, organization and amortized offering expenses, and interest expenses. |
Organization and Principal Bu_2
Organization and Principal Business - Narrative (Details) $ / shares in Units, $ in Millions | 3 Months Ended | 55 Months Ended | |||||||||||||||||||||||||||||||||||
Apr. 04, 2017 shares | Sep. 30, 2016 $ / shares shares | Mar. 31, 2023 USD ($) division shares | Apr. 30, 2021 USD ($) shares | Mar. 23, 2021 $ / shares | Jan. 06, 2021 $ / shares | Dec. 23, 2020 $ / shares | Sep. 23, 2020 $ / shares | Sep. 09, 2020 $ / shares | Aug. 26, 2020 $ / shares | Aug. 19, 2020 $ / shares | Jul. 29, 2020 $ / shares | Jul. 22, 2020 $ / shares | Jul. 14, 2020 $ / shares | Jun. 16, 2020 $ / shares | Jun. 09, 2020 $ / shares | Jun. 02, 2020 $ / shares | May 27, 2020 $ / shares | May 19, 2020 $ / shares | Apr. 22, 2020 $ / shares | Apr. 15, 2020 $ / shares | Mar. 25, 2020 $ / shares | Mar. 18, 2020 $ / shares | Mar. 10, 2020 $ / shares | Jan. 15, 2020 $ / shares | Oct. 09, 2019 $ / shares | Jul. 03, 2019 $ / shares | Apr. 09, 2019 $ / shares | Apr. 03, 2019 $ / shares | Feb. 27, 2019 $ / shares | Feb. 19, 2019 $ / shares | Jan. 22, 2019 $ / shares | Oct. 09, 2018 $ / shares | Jul. 18, 2018 $ / shares | Jan. 31, 2018 $ / shares | Jan. 17, 2018 $ / shares | May 02, 2017 $ / shares | |
Subsidiary, Sale of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||
Number of divisions | division | 3 | ||||||||||||||||||||||||||||||||||||
Term that determines if public equity offering is complete | 2 years | ||||||||||||||||||||||||||||||||||||
Liquidity anniversary | 5 years | ||||||||||||||||||||||||||||||||||||
Minimum | |||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||
Credit investment maturities | 3 years | ||||||||||||||||||||||||||||||||||||
Tax credit | $ | $ 10 | ||||||||||||||||||||||||||||||||||||
Offering period | 3 years | ||||||||||||||||||||||||||||||||||||
Maximum | |||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||
Credit investment maturities | 10 years | ||||||||||||||||||||||||||||||||||||
Tax credit | $ | $ 125 | ||||||||||||||||||||||||||||||||||||
Offering period | 4 years | ||||||||||||||||||||||||||||||||||||
Continuous public offering and follow-on continuous public offering | |||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||
Public offering price (in dollars per share) | $ / shares | $ 8.95 | $ 8.90 | $ 8.85 | $ 8.78 | $ 8.75 | $ 8.72 | $ 8.70 | $ 8.68 | $ 8.66 | $ 8.63 | $ 8.60 | $ 8.57 | $ 8.51 | $ 8.48 | $ 8.43 | $ 8.41 | $ 8.36 | $ 8.30 | $ 8.39 | $ 8.94 | $ 9.03 | $ 9.02 | $ 9.08 | $ 9.07 | $ 9.06 | $ 9.04 | $ 9.03 | $ 8.99 | $ 9.09 | $ 9.08 | $ 9.07 | $ 9.05 | $ 9.04 | ||||
Continuous public offering and follow-on continuous public offering | Common equity investments | |||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||
Shares authorized to be issued (in shares) | shares | 424,000,000 | ||||||||||||||||||||||||||||||||||||
Public offering price (in dollars per share) | $ / shares | $ 9.47 | ||||||||||||||||||||||||||||||||||||
Continuous public offering and follow-on continuous public offering | Adviser | Common equity investments | |||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||
Shares issued (in shares) | shares | 100 | ||||||||||||||||||||||||||||||||||||
Public offering price (in dollars per share) | $ / shares | $ 9 | ||||||||||||||||||||||||||||||||||||
Private placement | Common equity investments | |||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||
Shares issued (in shares) | shares | 151,364,239 | ||||||||||||||||||||||||||||||||||||
Private placement | Adviser | Common equity investments | |||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||
Proceeds from issuance of common stock | $ | $ 1,400 | ||||||||||||||||||||||||||||||||||||
Private placement | Advisor Affiliates | Common equity investments | |||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||
Shares issued (in shares) | shares | 277,778 | ||||||||||||||||||||||||||||||||||||
Proceeds from issuance of common stock | $ | $ 10 |
Significant Accounting Polici_3
Significant Accounting Policies (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Product Information [Line Items] | ||
Payment-in-kind interest and dividends | $ 7,665 | $ 5,436 |
Dividends and Income | ||
Product Information [Line Items] | ||
Payment-in-kind interest and dividends | $ 8,400 | $ 5,000 |
Revenue Benchmark | Product Concentration Risk | Dividends and Income | ||
Product Information [Line Items] | ||
Concentration risk (as percent) | 12.50% | 10.30% |
Agreements and Related Party _3
Agreements and Related Party Transactions - Narrative (Details) | 3 Months Ended | 37 Months Ended | 74 Months Ended | 90 Months Ended | |||||||||||||||||||||||
May 08, 2023 | May 08, 2022 component | Feb. 19, 2020 | Feb. 18, 2020 | Oct. 01, 2019 | Jun. 08, 2018 | Apr. 04, 2017 | Mar. 31, 2023 USD ($) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | Sep. 30, 2020 USD ($) | Jun. 30, 2020 USD ($) | Mar. 31, 2020 USD ($) | Dec. 31, 2019 USD ($) | Sep. 30, 2019 USD ($) | Jun. 30, 2019 USD ($) | Mar. 31, 2019 USD ($) | Jun. 30, 2018 USD ($) | Mar. 31, 2018 USD ($) | Dec. 31, 2017 USD ($) | Sep. 30, 2017 USD ($) | Jun. 30, 2017 USD ($) | Mar. 31, 2023 USD ($) | Mar. 31, 2023 USD ($) | Mar. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | |
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||
Payables to affiliates | $ 22,382,000 | $ 22,382,000 | $ 22,382,000 | $ 22,382,000 | $ 16,827,000 | ||||||||||||||||||||||
Performance based incentive fees | 6,946,000 | $ 3,357,000 | |||||||||||||||||||||||||
Management fee | 8,504,000 | 9,084,000 | |||||||||||||||||||||||||
Affiliated Entity | |||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||
Payables to affiliates | 22,400,000 | $ 22,400,000 | 22,400,000 | 22,400,000 | 16,800,000 | ||||||||||||||||||||||
Investment Advisory Agreement | Affiliated Entity | |||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||
Expenses from transactions with related party | 12,400,000 | ||||||||||||||||||||||||||
Contract term | 2 years | ||||||||||||||||||||||||||
Written notice for contract termination, term | 60 days | ||||||||||||||||||||||||||
Contract termination, certain circumstances, term | 120 days | ||||||||||||||||||||||||||
Base management fee percentage | 1.75% | 1.50% | |||||||||||||||||||||||||
Management fee | 8,500,000 | 9,100,000 | |||||||||||||||||||||||||
Number of incentive fee components | component | 2 | ||||||||||||||||||||||||||
Reduced base management fee percentage | 1.50% | ||||||||||||||||||||||||||
Investment Advisory Agreement, Management Fees | Affiliated Entity | |||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||
Payables to affiliates | 8,500,000 | $ 8,500,000 | 8,500,000 | 8,500,000 | 8,600,000 | ||||||||||||||||||||||
Investment Advisory Agreement, Performance Based Incentive Fee | Affiliated Entity | |||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||
Payables to affiliates | 6,900,000 | 6,900,000 | 6,900,000 | 6,900,000 | $ 6,300,000 | ||||||||||||||||||||||
Performance based incentive fees | 6,900,000 | 4,600,000 | |||||||||||||||||||||||||
Investment Advisory Agreement, Expense Support Recoupment | Affiliated Entity | |||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||
Payables to affiliates | 5,900,000 | $ 5,900,000 | 5,900,000 | $ 5,900,000 | |||||||||||||||||||||||
Investment Management Agreement, Incentive Rate, Pre-Incentive Fee Net Investment Income Below Catch-Up Threshold | Affiliated Entity | |||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||
Incentive fee percentage | 100% | ||||||||||||||||||||||||||
Investment Advisory Agreement, Incentive Rate, Quarterly Hurdle Rate | Affiliated Entity | |||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||
Incentive fee percentage | 1.50% | ||||||||||||||||||||||||||
Reduced base management fee percentage | 1.50% | ||||||||||||||||||||||||||
Investment Advisory Agreement, Incentive Rate, Quarterly Catch-Up Threshold | Affiliated Entity | |||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||
Incentive fee percentage | 1.818% | 1.875% | |||||||||||||||||||||||||
Reduced base management fee percentage | 1.818% | ||||||||||||||||||||||||||
Investment Advisory Agreement, Incentive Rate, Net Investment Income | Affiliated Entity | |||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||
Incentive fee percentage | 17.50% | 20% | |||||||||||||||||||||||||
Reduced base management fee percentage | 17.50% | ||||||||||||||||||||||||||
Investment Advisory Agreement, Incentive Rate, Net Investment Income, Threshold | Affiliated Entity | |||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||
Incentive fee percentage | 1.818% | 1.875% | |||||||||||||||||||||||||
Investment Advisory Agreement, Capital Based Incentive Fee | Affiliated Entity | |||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||
Performance based incentive fees | 0 | ||||||||||||||||||||||||||
Incentive fee percentage | 17.50% | 20% | |||||||||||||||||||||||||
Incentive fee waived | 1,300,000 | ||||||||||||||||||||||||||
Administration Agreement | Affiliated Entity | |||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||
Expenses from transactions with related party | $ 500,000 | $ 500,000 | |||||||||||||||||||||||||
Administration Agreement | Affiliated Entity | Subsequent Event | |||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||
Contract term | 2 years | ||||||||||||||||||||||||||
Written notice for contract termination, term | 60 days | ||||||||||||||||||||||||||
Investment Advisory Agreement, Percentage Of Gross Offering Proceeds, Maximum | Affiliated Entity | |||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||
Gross offering proceeds (as a percent) | 1.50% | 1.50% | 1.50% | ||||||||||||||||||||||||
Investment Advisory Agreement, Incentive Rate, Capital Gains | Affiliated Entity | |||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||
Reduced base management fee percentage | 17.50% | ||||||||||||||||||||||||||
Dealer Manager Agreement | Affiliated Entity | |||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||
Commissions and dealer manager fees | 5% | ||||||||||||||||||||||||||
Expense Support And Conditional Reimbursement Agreement | Affiliated Entity | |||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||
Expenses from transactions with related party | $ 5,900,000 | ||||||||||||||||||||||||||
Related party transaction, term | 3 years | 3 years | |||||||||||||||||||||||||
Average net assets | 1.75% | ||||||||||||||||||||||||||
Amount of Expense Support | Affiliated Entity | |||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||
Amount of expense support | $ 32,754,000 | $ 1,449,000 | $ 3,216,000 | $ 3,079,000 | $ 5,794,000 | $ 6,587,000 | $ 2,351,000 | $ 1,081,000 | $ 1,776,000 | $ 1,835,000 | $ 775,000 | $ 1,871,000 | $ 856,000 | $ 1,023,000 | $ 1,061,000 | $ 32,800,000 |
Agreements and Related Party _4
Agreements and Related Party Transactions (Details) - Affiliated Entity - USD ($) $ in Thousands | 3 Months Ended | 74 Months Ended | ||||||||||||||
Mar. 31, 2023 | Mar. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2023 | |
Amount of Expense Support | ||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||
Amount of Expense Support | $ 32,754 | $ 1,449 | $ 3,216 | $ 3,079 | $ 5,794 | $ 6,587 | $ 2,351 | $ 1,081 | $ 1,776 | $ 1,835 | $ 775 | $ 1,871 | $ 856 | $ 1,023 | $ 1,061 | $ 32,800 |
Recoupment of Expense Support | ||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||
Amount of Expense Support | 10,392 | 0 | 3,216 | 0 | 0 | 5,857 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 258 | 1,061 | |
Expired Expense Support | ||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||
Amount of Expense Support | 12,040 | 0 | 0 | 0 | 0 | 730 | 2,351 | 1,081 | 1,776 | 1,835 | 775 | 1,871 | 856 | 765 | 0 | |
Unreimbursed Expense Support | ||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||
Amount of Expense Support | $ 10,322 | $ 1,449 | $ 0 | $ 3,079 | $ 5,794 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | |
Effective Rate of Distribution per Share | ||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||
Effective Rate of Distribution per Share | 6.40% | 6.50% | 7.20% | 7.40% | 7.70% | 7% | 7% | 7% | 7% | 6.90% | 6.90% | 7% | 7% | 7% | ||
Operating Expense Ratio | ||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||
Operating Expense Ratio | 0.0060 | 0.0071 | 0.0063 | 0.0070 | 0.0070 | 0.0069 | 0.0072 | 0.0079 | 0.0091 | 0.0153 | 0.0227 | 0.0283 | 0.0615 | 0.1681 |
Investments - Investments at Fa
Investments - Investments at Fair Value and Amortized Cost (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | ||
Schedule of Investments [Line Items] | ||||
Amortized Cost | $ 2,228,183 | [1],[2],[3],[4],[5],[6] | $ 2,268,952 | [7],[8],[9],[10],[11] |
Fair Value | 2,231,038 | [2],[4],[5],[6] | 2,259,492 | [8],[9],[10],[11] |
First-lien senior secured debt investments | ||||
Schedule of Investments [Line Items] | ||||
Amortized Cost | 1,590,717 | 1,633,375 | ||
Fair Value | 1,580,257 | 1,614,367 | ||
Second-lien senior secured debt investments | ||||
Schedule of Investments [Line Items] | ||||
Amortized Cost | 477,237 | 484,086 | ||
Fair Value | 462,577 | 467,560 | ||
Unsecured debt investments | ||||
Schedule of Investments [Line Items] | ||||
Amortized Cost | 38,095 | 36,708 | ||
Fair Value | 34,915 | 32,663 | ||
Preferred equity investments | ||||
Schedule of Investments [Line Items] | ||||
Amortized Cost | 61,993 | 59,750 | ||
Fair Value | 61,337 | 58,678 | ||
Common equity investments | ||||
Schedule of Investments [Line Items] | ||||
Amortized Cost | 60,141 | 55,033 | ||
Fair Value | $ 91,952 | $ 86,224 | ||
[1]As of March 31, 2023, the net estimated unrealized loss for U.S. federal income tax purposes was $13.3 million based on a tax cost basis of $2.2 billion. As of March 31, 2023, the estimated aggregate gross unrealized loss for U.S. federal income tax purposes was $55.0 million and the estimated aggregate gross unrealized gain for U.S. federal income tax purposes was $41.7 million.[2]Certain portfolio company investments are subject to contractual restrictions on sales.[3]The amortized cost represents the original cost adjusted for the accretion and amortization of discounts and premiums, as applicable, on debt investments using the effective interest method.[4]Unless otherwise indicated, all investments are considered Level 3 investments.[5]Unless otherwise indicated, all investments are non-controlled, non-affiliated investments. Non-controlled, non-affiliated investments are defined as investments in which the Company owns less than 5% of the portfolio company’s outstanding voting securities and does not have the power to exercise control over the management or policies of such portfolio company.[6]Unless otherwise indicated, all or a portion of the Company’s portfolio companies are pledged as collateral supporting the available capacity under the SPV Asset Facilities. See Note 6 “Debt.”[7]As of December 31, 2022, the net estimated unrealized loss for U.S. federal income tax purposes was $21.5 million based on a tax cost basis of $2.3 billion. As of December 31, 2022, the estimated aggregate gross unrealized loss for U.S. federal income tax purposes was $61.9 million and the estimated aggregate gross unrealized gain for U.S. federal income tax purposes was $40.4 million.[8]Certain portfolio company investments are subject to contractual restrictions on sales.[9]Unless otherwise indicated, all investments are considered Level 3 investments.[10]Unless otherwise indicated, all investments are non-controlled, non-affiliated investments. Non-controlled, non-affiliated investments are defined as investments in which the Company owns less than 5% of the portfolio company’s outstanding voting securities and does not have the power to exercise control over the management or policies of such portfolio company.[11]Unless otherwise indicated, all or a portion of the Company’s portfolio companies are pledged as collateral supporting the available capacity under the SPV Asset Facilities. See Note 6 “Debt.” |
Investments - Composition of In
Investments - Composition of Investments Based on Fair Value (Details) - Investment Owned, At Fair Value | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Industry Concentration Risk | ||
Schedule of Investments [Line Items] | ||
Concentration risk (as percent) | 100% | 100% |
Industry Concentration Risk | Advertising and media | ||
Schedule of Investments [Line Items] | ||
Concentration risk (as percent) | 0.90% | 0.90% |
Industry Concentration Risk | Aerospace and defense | ||
Schedule of Investments [Line Items] | ||
Concentration risk (as percent) | 3.50% | 3.40% |
Industry Concentration Risk | Asset Based Lending and Fund Finance | ||
Schedule of Investments [Line Items] | ||
Concentration risk (as percent) | 1.50% | 1.40% |
Industry Concentration Risk | Automotive | ||
Schedule of Investments [Line Items] | ||
Concentration risk (as percent) | 1.70% | 1.60% |
Industry Concentration Risk | Buildings and real estate | ||
Schedule of Investments [Line Items] | ||
Concentration risk (as percent) | 3.20% | 4.20% |
Industry Concentration Risk | Business services | ||
Schedule of Investments [Line Items] | ||
Concentration risk (as percent) | 3.20% | 3.10% |
Industry Concentration Risk | Chemicals | ||
Schedule of Investments [Line Items] | ||
Concentration risk (as percent) | 2.60% | 2.70% |
Industry Concentration Risk | Consumer products | ||
Schedule of Investments [Line Items] | ||
Concentration risk (as percent) | 4.60% | 4.50% |
Industry Concentration Risk | Containers and packaging | ||
Schedule of Investments [Line Items] | ||
Concentration risk (as percent) | 1.40% | 1.40% |
Industry Concentration Risk | Distribution | ||
Schedule of Investments [Line Items] | ||
Concentration risk (as percent) | 3.30% | 3.20% |
Industry Concentration Risk | Education | ||
Schedule of Investments [Line Items] | ||
Concentration risk (as percent) | 1.20% | 1.20% |
Industry Concentration Risk | Financial services | ||
Schedule of Investments [Line Items] | ||
Concentration risk (as percent) | 5.50% | 5.30% |
Industry Concentration Risk | Food and beverage | ||
Schedule of Investments [Line Items] | ||
Concentration risk (as percent) | 7% | 7.40% |
Industry Concentration Risk | Healthcare equipment and services | ||
Schedule of Investments [Line Items] | ||
Concentration risk (as percent) | 4% | 3.90% |
Industry Concentration Risk | Healthcare providers and services | ||
Schedule of Investments [Line Items] | ||
Concentration risk (as percent) | 5.10% | 5% |
Industry Concentration Risk | Healthcare technology | ||
Schedule of Investments [Line Items] | ||
Concentration risk (as percent) | 6.10% | 5.90% |
Industry Concentration Risk | Household products | ||
Schedule of Investments [Line Items] | ||
Concentration risk (as percent) | 2.40% | 2.20% |
Industry Concentration Risk | Human resource support services | ||
Schedule of Investments [Line Items] | ||
Concentration risk (as percent) | 1.40% | 1.40% |
Industry Concentration Risk | Infrastructure and environmental services | ||
Schedule of Investments [Line Items] | ||
Concentration risk (as percent) | 0.40% | 0.40% |
Industry Concentration Risk | Insurance | ||
Schedule of Investments [Line Items] | ||
Concentration risk (as percent) | 8.10% | 7.90% |
Industry Concentration Risk | Internet software and services | ||
Schedule of Investments [Line Items] | ||
Concentration risk (as percent) | 13.80% | 13.60% |
Industry Concentration Risk | Leisure and entertainment | ||
Schedule of Investments [Line Items] | ||
Concentration risk (as percent) | 2.70% | 2.70% |
Industry Concentration Risk | Manufacturing | ||
Schedule of Investments [Line Items] | ||
Concentration risk (as percent) | 7.10% | 7% |
Industry Concentration Risk | Pharmaceuticals | ||
Schedule of Investments [Line Items] | ||
Concentration risk (as percent) | 0.10% | 0% |
Industry Concentration Risk | Oil and gas | ||
Schedule of Investments [Line Items] | ||
Concentration risk (as percent) | 0.60% | 1.10% |
Industry Concentration Risk | Professional services | ||
Schedule of Investments [Line Items] | ||
Concentration risk (as percent) | 2.40% | 2.40% |
Industry Concentration Risk | Specialty retail | ||
Schedule of Investments [Line Items] | ||
Concentration risk (as percent) | 3.20% | 3.20% |
Industry Concentration Risk | Transportation | ||
Schedule of Investments [Line Items] | ||
Concentration risk (as percent) | 3% | 3% |
Geographic Concentration Risk | ||
Schedule of Investments [Line Items] | ||
Concentration risk (as percent) | 100% | 100% |
Geographic Concentration Risk | Midwest | ||
Schedule of Investments [Line Items] | ||
Concentration risk (as percent) | 17.20% | 17.40% |
Geographic Concentration Risk | Northeast | ||
Schedule of Investments [Line Items] | ||
Concentration risk (as percent) | 18.10% | 17.60% |
Geographic Concentration Risk | South | ||
Schedule of Investments [Line Items] | ||
Concentration risk (as percent) | 32.70% | 33.70% |
Geographic Concentration Risk | West | ||
Schedule of Investments [Line Items] | ||
Concentration risk (as percent) | 23.90% | 23.50% |
Geographic Concentration Risk | International | ||
Schedule of Investments [Line Items] | ||
Concentration risk (as percent) | 8.10% | 7.80% |
Fair Value of Investments - Sch
Fair Value of Investments - Schedule of Fair Value Hierarchy of Investments (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Fair Value | $ 2,231,038 | [1],[2],[3],[4] | $ 2,259,492 | [5],[6],[7],[8] |
First-lien senior secured debt investments | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Fair Value | 1,580,257 | 1,614,367 | ||
Second-lien senior secured debt investments | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Fair Value | 462,577 | 467,560 | ||
Unsecured debt investments | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Fair Value | 34,915 | 32,663 | ||
Preferred equity investments | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Fair Value | 61,337 | 58,678 | ||
Common equity investments | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Fair Value | 91,952 | 86,224 | ||
Level 1 | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Fair Value | 246 | 158 | ||
Level 1 | First-lien senior secured debt investments | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Fair Value | 0 | 0 | ||
Level 1 | Second-lien senior secured debt investments | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Fair Value | 0 | 0 | ||
Level 1 | Unsecured debt investments | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Fair Value | 0 | 0 | ||
Level 1 | Preferred equity investments | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Fair Value | 0 | 0 | ||
Level 1 | Common equity investments | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Fair Value | 246 | 158 | ||
Level 2 | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Fair Value | 31,877 | 14,368 | ||
Level 2 | First-lien senior secured debt investments | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Fair Value | 73 | 1 | ||
Level 2 | Second-lien senior secured debt investments | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Fair Value | 31,804 | 13,798 | ||
Level 2 | Unsecured debt investments | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Fair Value | 0 | 569 | ||
Level 2 | Preferred equity investments | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Fair Value | 0 | 0 | ||
Level 2 | Common equity investments | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Fair Value | 0 | 0 | ||
Level 3 | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Fair Value | 2,198,915 | 2,244,966 | ||
Level 3 | First-lien senior secured debt investments | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Fair Value | 1,580,184 | 1,614,366 | ||
Level 3 | Second-lien senior secured debt investments | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Fair Value | 430,773 | 453,762 | ||
Level 3 | Unsecured debt investments | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Fair Value | 34,915 | 32,094 | ||
Level 3 | Preferred equity investments | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Fair Value | 61,337 | 58,678 | ||
Level 3 | Common equity investments | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Fair Value | $ 91,706 | $ 86,066 | ||
[1]Certain portfolio company investments are subject to contractual restrictions on sales.[2]Unless otherwise indicated, all investments are considered Level 3 investments.[3]Unless otherwise indicated, all investments are non-controlled, non-affiliated investments. Non-controlled, non-affiliated investments are defined as investments in which the Company owns less than 5% of the portfolio company’s outstanding voting securities and does not have the power to exercise control over the management or policies of such portfolio company.[4]Unless otherwise indicated, all or a portion of the Company’s portfolio companies are pledged as collateral supporting the available capacity under the SPV Asset Facilities. See Note 6 “Debt.”[5]Certain portfolio company investments are subject to contractual restrictions on sales.[6]Unless otherwise indicated, all investments are considered Level 3 investments.[7]Unless otherwise indicated, all investments are non-controlled, non-affiliated investments. Non-controlled, non-affiliated investments are defined as investments in which the Company owns less than 5% of the portfolio company’s outstanding voting securities and does not have the power to exercise control over the management or policies of such portfolio company.[8]Unless otherwise indicated, all or a portion of the Company’s portfolio companies are pledged as collateral supporting the available capacity under the SPV Asset Facilities. See Note 6 “Debt.” |
Fair Value of Investments - S_2
Fair Value of Investments - Schedule of Changes in the Fair Value of Investments (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
First-lien senior secured debt investments | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value, beginning of period | $ 1,614,366 | $ 1,784,325 |
Purchases of investments, net | 16,910 | 49,462 |
Payment-in-kind | 3,935 | 3,043 |
Proceeds from investments, net | (52,382) | (77,798) |
Net accretion/amortization of discount/premium on investments | 1,381 | 1,925 |
Transfers between investment types | (4,750) | |
Transfers into (out of) Level 3 | (70) | (73) |
Fair value, end of period | 1,580,184 | 1,753,308 |
First-lien senior secured debt investments | Net change in unrealized gain (loss) on investments | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Net change in unrealized gain (loss) / realized gain (loss) | 8,546 | (7,599) |
First-lien senior secured debt investments | Net realized gain (loss) on investments | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Net change in unrealized gain (loss) / realized gain (loss) | (7,752) | 23 |
Second-lien senior secured debt investments | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value, beginning of period | 453,762 | 484,500 |
Purchases of investments, net | (1) | 979 |
Payment-in-kind | 894 | 577 |
Proceeds from investments, net | (8,000) | 0 |
Net accretion/amortization of discount/premium on investments | 251 | 189 |
Transfers between investment types | 0 | |
Transfers into (out of) Level 3 | (17,701) | (26,376) |
Fair value, end of period | 430,773 | 455,753 |
Second-lien senior secured debt investments | Net change in unrealized gain (loss) on investments | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Net change in unrealized gain (loss) / realized gain (loss) | 1,568 | (4,116) |
Second-lien senior secured debt investments | Net realized gain (loss) on investments | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Net change in unrealized gain (loss) / realized gain (loss) | 0 | 0 |
Unsecured debt investments | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value, beginning of period | 32,094 | 34,133 |
Purchases of investments, net | (1) | 986 |
Payment-in-kind | 1,414 | 1,074 |
Proceeds from investments, net | (38) | 0 |
Net accretion/amortization of discount/premium on investments | 17 | 20 |
Transfers between investment types | 0 | |
Transfers into (out of) Level 3 | 569 | 0 |
Fair value, end of period | 34,915 | 35,175 |
Unsecured debt investments | Net change in unrealized gain (loss) on investments | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Net change in unrealized gain (loss) / realized gain (loss) | 865 | (1,038) |
Unsecured debt investments | Net realized gain (loss) on investments | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Net change in unrealized gain (loss) / realized gain (loss) | (5) | 0 |
Preferred equity investments | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value, beginning of period | 58,678 | 49,313 |
Purchases of investments, net | 811 | 1,036 |
Payment-in-kind | 1,391 | 712 |
Proceeds from investments, net | 0 | (4,900) |
Net accretion/amortization of discount/premium on investments | 41 | 117 |
Transfers between investment types | 0 | |
Transfers into (out of) Level 3 | 0 | 0 |
Fair value, end of period | 61,337 | 46,259 |
Preferred equity investments | Net change in unrealized gain (loss) on investments | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Net change in unrealized gain (loss) / realized gain (loss) | 416 | (792) |
Preferred equity investments | Net realized gain (loss) on investments | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Net change in unrealized gain (loss) / realized gain (loss) | 0 | 773 |
Common equity investments | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value, beginning of period | 86,066 | 66,395 |
Purchases of investments, net | 328 | 1,020 |
Payment-in-kind | 31 | 29 |
Proceeds from investments, net | (2) | 0 |
Net accretion/amortization of discount/premium on investments | 0 | 0 |
Transfers between investment types | 4,750 | |
Transfers into (out of) Level 3 | 0 | 0 |
Fair value, end of period | 91,706 | 68,049 |
Common equity investments | Net change in unrealized gain (loss) on investments | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Net change in unrealized gain (loss) / realized gain (loss) | 533 | 605 |
Common equity investments | Net realized gain (loss) on investments | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Net change in unrealized gain (loss) / realized gain (loss) | 0 | 0 |
Investments | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value, beginning of period | 2,244,966 | 2,418,666 |
Purchases of investments, net | 18,047 | 53,483 |
Payment-in-kind | 7,665 | 5,435 |
Proceeds from investments, net | (60,422) | (82,698) |
Net accretion/amortization of discount/premium on investments | 1,690 | 2,251 |
Transfers between investment types | 0 | |
Transfers into (out of) Level 3 | (17,202) | (26,449) |
Fair value, end of period | 2,198,915 | 2,358,544 |
Investments | Net change in unrealized gain (loss) on investments | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Net change in unrealized gain (loss) / realized gain (loss) | 11,928 | (12,940) |
Investments | Net realized gain (loss) on investments | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Net change in unrealized gain (loss) / realized gain (loss) | $ (7,757) | $ 796 |
Fair Value of Investments - S_3
Fair Value of Investments - Schedule of Net Change in Unrealized Gains on Investments (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Net change in unrealized gain (loss) | $ 11,928 | $ (11,998) |
First-lien senior secured debt investments | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Net change in unrealized gain (loss) | 8,546 | (6,932) |
Second-lien senior secured debt investments | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Net change in unrealized gain (loss) | 1,568 | (4,106) |
Unsecured debt investments | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Net change in unrealized gain (loss) | 865 | (1,039) |
Preferred equity investments | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Net change in unrealized gain (loss) | 416 | (735) |
Common equity investments | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Net change in unrealized gain (loss) | $ 533 | $ 814 |
Fair Value of Investments - S_4
Fair Value of Investments - Schedule of Quantitative Information About Significant Unobservable Inputs of Level 3 Investments (Details) $ in Thousands | Mar. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | $ 2,231,038 | [1],[2],[3],[4] | $ 2,259,492 | [5],[6],[7],[8] |
First-lien senior secured debt investments | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | 1,580,257 | 1,614,367 | ||
Second-lien senior secured debt investments | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | 462,577 | 467,560 | ||
Unsecured debt investments | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | 34,915 | 32,663 | ||
Preferred equity investments | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | 61,337 | 58,678 | ||
Common equity investments | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | 91,952 | 86,224 | ||
Level 3 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | 2,198,915 | 2,244,966 | ||
Level 3 | First-lien senior secured debt investments | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | 1,580,184 | 1,614,366 | ||
Level 3 | First-lien senior secured debt investments | Yield Analysis | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | $ 1,573,789 | $ 1,602,197 | ||
Level 3 | First-lien senior secured debt investments | Yield Analysis | Market Yield | Maximum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 0.383 | 0.420 | ||
Level 3 | First-lien senior secured debt investments | Yield Analysis | Market Yield | Weighted Average | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 0.126 | 0.130 | ||
Level 3 | First-lien senior secured debt investments | Yield Analysis | Market Yield | Minimum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 0.091 | 0.091 | ||
Level 3 | First-lien senior secured debt investments | Recent Transaction | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | $ 6,395 | $ 3,378 | ||
Level 3 | First-lien senior secured debt investments | Recent Transaction | Transaction Price | Maximum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 1 | 0.990 | ||
Level 3 | First-lien senior secured debt investments | Recent Transaction | Transaction Price | Weighted Average | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 0.987 | 0.990 | ||
Level 3 | First-lien senior secured debt investments | Recent Transaction | Transaction Price | Minimum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 0.980 | 0.990 | ||
Level 3 | First-lien senior secured debt investments | Collateral Analysis | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | $ 8,789 | |||
Level 3 | First-lien senior secured debt investments | Collateral Analysis | Recovery Rate | Maximum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 0.510 | |||
Level 3 | First-lien senior secured debt investments | Collateral Analysis | Recovery Rate | Weighted Average | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 0.510 | |||
Level 3 | First-lien senior secured debt investments | Collateral Analysis | Recovery Rate | Minimum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 0.510 | |||
Level 3 | Second-lien senior secured debt investments | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | $ 430,773 | $ 453,762 | ||
Level 3 | Second-lien senior secured debt investments | Yield Analysis | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | $ 429,705 | $ 452,695 | ||
Level 3 | Second-lien senior secured debt investments | Yield Analysis | Market Yield | Maximum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 0.218 | 0.210 | ||
Level 3 | Second-lien senior secured debt investments | Yield Analysis | Market Yield | Weighted Average | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 0.143 | 0.162 | ||
Level 3 | Second-lien senior secured debt investments | Yield Analysis | Market Yield | Minimum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 0.081 | 0.126 | ||
Level 3 | Second-lien senior secured debt investments | Collateral Analysis | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | $ 1,068 | $ 1,068 | ||
Level 3 | Second-lien senior secured debt investments | Collateral Analysis | Recovery Rate | Maximum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 0.095 | 0.095 | ||
Level 3 | Second-lien senior secured debt investments | Collateral Analysis | Recovery Rate | Weighted Average | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 0.095 | 0.095 | ||
Level 3 | Second-lien senior secured debt investments | Collateral Analysis | Recovery Rate | Minimum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 0.095 | 0.095 | ||
Level 3 | Unsecured debt investments | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | $ 34,915 | $ 32,094 | ||
Level 3 | Unsecured debt investments | Yield Analysis | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | $ 34,091 | $ 31,269 | ||
Level 3 | Unsecured debt investments | Yield Analysis | Market Yield | Maximum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 0.205 | 0.202 | ||
Level 3 | Unsecured debt investments | Yield Analysis | Market Yield | Weighted Average | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 0.124 | 0.124 | ||
Level 3 | Unsecured debt investments | Yield Analysis | Market Yield | Minimum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 0.107 | 0.104 | ||
Level 3 | Unsecured debt investments | Market Approach | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | $ 825 | $ 825 | ||
Level 3 | Unsecured debt investments | Market Approach | EBITDA Multiple | Maximum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 13.8 | 14.3 | ||
Level 3 | Unsecured debt investments | Market Approach | EBITDA Multiple | Weighted Average | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 13.8 | 14.3 | ||
Level 3 | Unsecured debt investments | Market Approach | EBITDA Multiple | Minimum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 13.8 | 14.3 | ||
Level 3 | Preferred equity investments | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | $ 61,337 | $ 58,678 | ||
Level 3 | Preferred equity investments | Yield Analysis | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | $ 60,267 | $ 58,361 | ||
Level 3 | Preferred equity investments | Yield Analysis | Market Yield | Maximum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 0.153 | 0.170 | ||
Level 3 | Preferred equity investments | Yield Analysis | Market Yield | Weighted Average | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 0.139 | 0.139 | ||
Level 3 | Preferred equity investments | Yield Analysis | Market Yield | Minimum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 0.115 | 0.119 | ||
Level 3 | Preferred equity investments | Recent Transaction | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | $ 1,061 | $ 309 | ||
Level 3 | Preferred equity investments | Recent Transaction | Transaction Price | Maximum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 1 | 1 | ||
Level 3 | Preferred equity investments | Recent Transaction | Transaction Price | Weighted Average | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 1 | 1 | ||
Level 3 | Preferred equity investments | Recent Transaction | Transaction Price | Minimum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 1 | 1 | ||
Level 3 | Preferred equity investments | Market Approach | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | $ 9 | $ 9 | ||
Level 3 | Preferred equity investments | Market Approach | EBITDA Multiple | Maximum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 12 | 11.5 | ||
Level 3 | Preferred equity investments | Market Approach | EBITDA Multiple | Weighted Average | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 12 | 11.5 | ||
Level 3 | Preferred equity investments | Market Approach | EBITDA Multiple | Minimum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 12 | 11.5 | ||
Level 3 | Common equity investments | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | $ 91,706 | $ 86,066 | ||
Level 3 | Common equity investments | Recent Transaction | Transaction Price | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | $ 6,361 | $ 1,283 | ||
Level 3 | Common equity investments | Recent Transaction | Transaction Price | Maximum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 1 | 1 | ||
Level 3 | Common equity investments | Recent Transaction | Transaction Price | Weighted Average | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 1 | 1 | ||
Level 3 | Common equity investments | Recent Transaction | Transaction Price | Minimum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 1 | 1 | ||
Level 3 | Common equity investments | Market Approach | EBITDA Multiple | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | $ 81,846 | $ 81,345 | ||
Level 3 | Common equity investments | Market Approach | EBITDA Multiple | Maximum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 21 | 23.3 | ||
Level 3 | Common equity investments | Market Approach | EBITDA Multiple | Weighted Average | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 8.1 | 8.2 | ||
Level 3 | Common equity investments | Market Approach | EBITDA Multiple | Minimum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 3.4 | 3.8 | ||
Level 3 | Common equity investments | Market Approach | Revenue Multiple | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | $ 3,478 | $ 3,420 | ||
Level 3 | Common equity investments | Market Approach | Revenue Multiple | Maximum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 16 | 16.6 | ||
Level 3 | Common equity investments | Market Approach | Revenue Multiple | Weighted Average | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 10 | 10.2 | ||
Level 3 | Common equity investments | Market Approach | Revenue Multiple | Minimum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 1.9 | 1.8 | ||
Level 3 | Common equity investments | Market Approach | Gross Profit Multiple | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | $ 21 | $ 18 | ||
Level 3 | Common equity investments | Market Approach | Gross Profit Multiple | Maximum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 9 | 8.6 | ||
Level 3 | Common equity investments | Market Approach | Gross Profit Multiple | Weighted Average | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 9 | 8.6 | ||
Level 3 | Common equity investments | Market Approach | Gross Profit Multiple | Minimum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Range (Weighted Average) | 9 | 8.6 | ||
[1]Certain portfolio company investments are subject to contractual restrictions on sales.[2]Unless otherwise indicated, all investments are considered Level 3 investments.[3]Unless otherwise indicated, all investments are non-controlled, non-affiliated investments. Non-controlled, non-affiliated investments are defined as investments in which the Company owns less than 5% of the portfolio company’s outstanding voting securities and does not have the power to exercise control over the management or policies of such portfolio company.[4]Unless otherwise indicated, all or a portion of the Company’s portfolio companies are pledged as collateral supporting the available capacity under the SPV Asset Facilities. See Note 6 “Debt.”[5]Certain portfolio company investments are subject to contractual restrictions on sales.[6]Unless otherwise indicated, all investments are considered Level 3 investments.[7]Unless otherwise indicated, all investments are non-controlled, non-affiliated investments. Non-controlled, non-affiliated investments are defined as investments in which the Company owns less than 5% of the portfolio company’s outstanding voting securities and does not have the power to exercise control over the management or policies of such portfolio company.[8]Unless otherwise indicated, all or a portion of the Company’s portfolio companies are pledged as collateral supporting the available capacity under the SPV Asset Facilities. See Note 6 “Debt.” |
Fair Value of Investments - S_5
Fair Value of Investments - Schedule of Carrying and Fair Values of the Company’s Debt Obligations (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Debt Instrument [Line Items] | ||
Fair value of debt obligations | $ 977,665 | $ 975,106 |
Level 1 | ||
Debt Instrument [Line Items] | ||
Fair value of debt obligations | 0 | 0 |
Level 2 | ||
Debt Instrument [Line Items] | ||
Fair value of debt obligations | 432,000 | 428,625 |
Level 3 | ||
Debt Instrument [Line Items] | ||
Fair value of debt obligations | 545,665 | 546,481 |
Net Carrying Value | ||
Debt Instrument [Line Items] | ||
Fair value of debt obligations | 995,834 | 996,673 |
Fair Value | ||
Debt Instrument [Line Items] | ||
Fair value of debt obligations | 977,665 | 975,106 |
SPV Asset Facility I | Line of Credit | ||
Debt Instrument [Line Items] | ||
Debt issuance costs | 100 | 100 |
SPV Asset Facility I | Net Carrying Value | Line of Credit | ||
Debt Instrument [Line Items] | ||
Fair value of debt obligations | 394,104 | 374,084 |
SPV Asset Facility I | Fair Value | Line of Credit | ||
Debt Instrument [Line Items] | ||
Fair value of debt obligations | 394,104 | 374,084 |
SPV Asset Facility II | Line of Credit | ||
Debt Instrument [Line Items] | ||
Debt issuance costs | 3,400 | 3,600 |
SPV Asset Facility II | Net Carrying Value | Line of Credit | ||
Debt Instrument [Line Items] | ||
Fair value of debt obligations | 151,561 | 172,397 |
SPV Asset Facility II | Fair Value | Line of Credit | ||
Debt Instrument [Line Items] | ||
Fair value of debt obligations | 151,561 | 172,397 |
2024 Notes | Unsecured debt investments | ||
Debt Instrument [Line Items] | ||
Debt issuance costs | (200) | (200) |
2024 Notes | Net Carrying Value | Unsecured debt investments | ||
Debt Instrument [Line Items] | ||
Fair value of debt obligations | 450,169 | 450,192 |
2024 Notes | Fair Value | Unsecured debt investments | ||
Debt Instrument [Line Items] | ||
Fair value of debt obligations | $ 432,000 | $ 428,625 |
Debt - Additional Information (
Debt - Additional Information (Details) | Mar. 31, 2023 | Dec. 31, 2022 |
Debt Disclosure [Abstract] | ||
Asset coverage ratio | 228% | 229% |
Debt - Schedule of Outstanding
Debt - Schedule of Outstanding Debt Obligations (Details) - USD ($) | Mar. 31, 2023 | Dec. 31, 2022 | May 06, 2022 | Mar. 25, 2022 | May 05, 2021 | Oct. 21, 2020 | Nov. 26, 2019 |
Debt Instrument [Line Items] | |||||||
Total Debt | $ 1,275,000,000 | $ 1,275,000,000 | |||||
Outstanding Principal | 999,222,000 | 1,000,222,000 | |||||
Amount Available | 127,544,000 | 108,325,000 | |||||
Debt (net of deferred unamortized debt issuance costs of $3,388 and $3,550, respectively) | 995,834,000 | 996,673,000 | |||||
Line of Credit | SPV Asset Facility I | |||||||
Debt Instrument [Line Items] | |||||||
Aggregate principal committed | 500,000,000 | 500,000,000 | $ 500,000,000 | ||||
Outstanding Principal | 394,222,000 | 374,222,000 | |||||
Amount Available | 40,340,000 | 29,179,000 | |||||
Debt (net of deferred unamortized debt issuance costs of $3,388 and $3,550, respectively) | 394,104,000 | 374,084,000 | |||||
Debt issuance costs | 100,000 | 100,000 | |||||
Line of Credit | SPV Asset Facility II | |||||||
Debt Instrument [Line Items] | |||||||
Aggregate principal committed | 325,000,000 | 325,000,000 | $ 325,000,000 | ||||
Outstanding Principal | 155,000,000 | 176,000,000 | |||||
Amount Available | 87,204,000 | 79,146,000 | |||||
Debt (net of deferred unamortized debt issuance costs of $3,388 and $3,550, respectively) | 151,561,000 | 172,397,000 | |||||
Debt issuance costs | 3,400,000 | 3,600,000 | |||||
Unsecured debt investments | 2024 Notes | |||||||
Debt Instrument [Line Items] | |||||||
Aggregate principal committed | 450,000,000 | 450,000,000 | $ 100,000,000 | $ 50,000,000 | $ 300,000,000 | ||
Outstanding Principal | 450,000,000 | 450,000,000 | |||||
Debt (net of deferred unamortized debt issuance costs of $3,388 and $3,550, respectively) | 450,169,000 | 450,192,000 | |||||
Debt issuance costs | $ (200,000) | $ (200,000) |
Debt - Schedule of Components o
Debt - Schedule of Components of Interest Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Debt Disclosure [Abstract] | ||
Interest expense | $ 15,699 | $ 9,915 |
Amortization of debt issuance costs | 235 | 342 |
Total Interest Expense | $ 15,934 | $ 10,257 |
Average interest rate | 6.10% | 3.50% |
Average daily borrowings | $ 998,189 | $ 1,098,056 |
Debt - SPV Asset Facilities (De
Debt - SPV Asset Facilities (Details) - Line of Credit - USD ($) | May 06, 2022 | Mar. 25, 2022 | Mar. 31, 2023 | Dec. 31, 2022 |
SPV Asset Facility I | ||||
Debt Instrument [Line Items] | ||||
Aggregate principal committed | $ 500,000,000 | $ 500,000,000 | $ 500,000,000 | |
SPV Asset Facility I | Reinvestment period | SOFR | ||||
Debt Instrument [Line Items] | ||||
Basis spread on variable rate | 2.40% | |||
SPV Asset Facility II | ||||
Debt Instrument [Line Items] | ||||
Aggregate principal committed | $ 325,000,000 | $ 325,000,000 | $ 325,000,000 | |
Debt instrument, term | 2 years | |||
SPV Asset Facility II | Minimum | ||||
Debt Instrument [Line Items] | ||||
Commitment fee percentage | 0% | |||
SPV Asset Facility II | Maximum | ||||
Debt Instrument [Line Items] | ||||
Commitment fee percentage | 0.75% | |||
SPV Asset Facility II | Reinvestment period | SOFR | ||||
Debt Instrument [Line Items] | ||||
Basis spread on variable rate | 0.25% | |||
SPV Asset Facility II | Reinvestment period | SOFR | Secured Debt | ||||
Debt Instrument [Line Items] | ||||
Interest rate in addition to basis and basis spread | 2.50% | |||
SPV Asset Facility II | Reinvestment period | SOFR | Revolving Credit Facility | ||||
Debt Instrument [Line Items] | ||||
Interest rate in addition to basis and basis spread | 2.50% | |||
SPV Asset Facility II | After reinvestment period | SOFR | ||||
Debt Instrument [Line Items] | ||||
Interest rate in addition to basis and basis spread | 2.50% |
Debt - Promissory Note (Details
Debt - Promissory Note (Details) - USD ($) | Mar. 08, 2019 | Jul. 19, 2018 | Mar. 02, 2018 | Oct. 19, 2017 | May 18, 2017 |
Promissory Note | Promissory Note | |||||
Debt Instrument [Line Items] | |||||
Aggregate principal committed | $ 50,000,000 | $ 35,000,000 | $ 20,000,000 | $ 15,000,000 | $ 10,000,000 |
Debt - 2024 Notes (Details)
Debt - 2024 Notes (Details) - 2024 Notes - Unsecured debt investments - USD ($) | May 05, 2021 | Mar. 31, 2023 | Dec. 31, 2022 | Oct. 21, 2020 | Nov. 26, 2019 |
Debt Instrument [Line Items] | |||||
Aggregate principal committed | $ 100,000,000 | $ 450,000,000 | $ 450,000,000 | $ 50,000,000 | $ 300,000,000 |
Interest rate, stated percentage | 4.625% | 4.625% | 4.625% | ||
Redemption percentage | 100% |
Commitments and Contingencies (
Commitments and Contingencies (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | $ 49 | $ 196 |
Investment, Identifier [Axis]: 3ES Innovation Inc. (dba Aucerna), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 387 | 387 |
Investment, Identifier [Axis]: AAM Series 1.1 Rail and Domestic Intermodal Feeder, LLC, LLC Interest | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 2,265 | 2,500 |
Investment, Identifier [Axis]: AAM Series 2.1 Aviation Feeder, LLC, LLC Interest | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 2,391 | 2,424 |
Investment, Identifier [Axis]: ABB/Con-cise Optical Group LLC, First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 5 | 5 |
Investment, Identifier [Axis]: Adenza Group, Inc., First lien senior secured delayed draw term loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 2,276 | 2,276 |
Investment, Identifier [Axis]: Adenza Group, Inc., First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 3,496 | 3,496 |
Investment, Identifier [Axis]: AmSpec Group, Inc. (fka AmSpec Services Inc.), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 2,154 | 1,938 |
Investment, Identifier [Axis]: Anaplan, Inc., First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 972 | 972 |
Investment, Identifier [Axis]: Apex Service Partners, LLC, First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 25 | 19 |
Investment, Identifier [Axis]: Aramsco, Inc., First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 417 | 835 |
Investment, Identifier [Axis]: Ascend Buyer, LLC (dba PPC Flexible Packaging), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 79 | 79 |
Investment, Identifier [Axis]: Associations, Inc., First lien senior secured delayed draw term loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 238 | 300 |
Investment, Identifier [Axis]: Associations, Inc., First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 6,146 | 6,146 |
Investment, Identifier [Axis]: BCPE Osprey Buyer, Inc. (dba PartsSource), First lien senior secured delayed draw term loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 345 | 345 |
Investment, Identifier [Axis]: BCPE Osprey Buyer, Inc. (dba PartsSource), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 40 | 52 |
Investment, Identifier [Axis]: BCTO BSI Buyer, Inc. (dba Buildertrend), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 1,527 | 1,527 |
Investment, Identifier [Axis]: BP Veraison Buyer, LLC (dba Sun World), First lien senior secured delayed draw term loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 6,081 | 6,081 |
Investment, Identifier [Axis]: BP Veraison Buyer, LLC (dba Sun World), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 1,824 | 1,824 |
Investment, Identifier [Axis]: Bayshore Intermediate #2, L.P. (dba Boomi), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 991 | 826 |
Investment, Identifier [Axis]: BradyIFS Holdings, LLC (fka Individual Foodservice Holdings, LLC), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 4,529 | 4,529 |
Investment, Identifier [Axis]: Brightway Holdings, LLC, First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 368 | 526 |
Investment, Identifier [Axis]: Catalis Intermediate, Inc. (fka GovBrands Intermediate, Inc.), First lien senior secured delayed draw term loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 259 | 259 |
Investment, Identifier [Axis]: Catalis Intermediate, Inc. (fka GovBrands Intermediate, Inc.), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 19 | 19 |
Investment, Identifier [Axis]: Centrify Corporation, First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 673 | 0 |
Investment, Identifier [Axis]: CivicPlus, LLC, First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 213 | 213 |
Investment, Identifier [Axis]: Denali BuyerCo, LLC (dba Summit Companies), First lien senior secured delayed draw term loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 0 | 72 |
Investment, Identifier [Axis]: Denali BuyerCo, LLC (dba Summit Companies), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 125 | 125 |
Investment, Identifier [Axis]: Diamondback Acquisition, Inc. (dba Sphera), First lien senior secured delayed draw term loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 166 | 166 |
Investment, Identifier [Axis]: Douglas Products and Packaging Company LLC, First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 448 | 448 |
Investment, Identifier [Axis]: EET Buyer, Inc. (dba e-Emphasys), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 91 | 91 |
Investment, Identifier [Axis]: Entertainment Benefits Group, LLC, First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 89 | 44 |
Investment, Identifier [Axis]: Evolution BuyerCo, Inc. (dba SIAA), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 2,230 | 2,230 |
Investment, Identifier [Axis]: Forescout Technologies, Inc., First lien senior secured delayed draw term loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 6,825 | 6,825 |
Investment, Identifier [Axis]: Forescout Technologies, Inc., First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 0 | 700 |
Investment, Identifier [Axis]: Fortis Solutions Group, LLC, First lien senior secured delayed draw term loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 0 | 3 |
Investment, Identifier [Axis]: Fortis Solutions Group, LLC, First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 78 | 78 |
Investment, Identifier [Axis]: GI Ranger Intermediate, LLC (dba Rectangle Health), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 66 | 66 |
Investment, Identifier [Axis]: Gainsight, Inc., First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 872 | 872 |
Investment, Identifier [Axis]: Galls, LLC, First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 2,508 | 2,802 |
Investment, Identifier [Axis]: Gaylord Chemical Company, L.L.C., First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 2,609 | 2,609 |
Investment, Identifier [Axis]: Gerson Lehrman Group, Inc., First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 2,039 | 2,039 |
Investment, Identifier [Axis]: Global Music Rights, LLC, First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 83 | 83 |
Investment, Identifier [Axis]: H&F Opportunities LUX III S.À R.L (dba Checkmarx), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 4,583 | 4,583 |
Investment, Identifier [Axis]: HGH Purchaser, Inc. (dba Horizon Services), First lien senior secured delayed draw term loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 0 | 712 |
Investment, Identifier [Axis]: HGH Purchaser, Inc. (dba Horizon Services), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 423 | 1,459 |
Investment, Identifier [Axis]: Hercules Borrower, LLC (dba The Vincit Group), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 2,986 | 2,986 |
Investment, Identifier [Axis]: Hissho Sushi Merger Sub LLC, First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 65 | 56 |
Investment, Identifier [Axis]: Hometown Food Company, First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 471 | 376 |
Investment, Identifier [Axis]: IG Investments Holdings, LLC (dba Insight Global), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 723 | 434 |
Investment, Identifier [Axis]: Ideal Tridon Holdings, Inc., First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 418 | 564 |
Investment, Identifier [Axis]: Indigo Buyer, Inc. (dba Inovar Packaging Group), First lien senior secured delayed draw term loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 0 | 250 |
Investment, Identifier [Axis]: Indigo Buyer, Inc. (dba Inovar Packaging Group), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 83 | 83 |
Investment, Identifier [Axis]: Integrity Marketing Acquisition, LLC, First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 1,868 | 1,868 |
Investment, Identifier [Axis]: Interoperability Bidco, Inc. (dba Lyniate), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 790 | 326 |
Investment, Identifier [Axis]: Kaseya Inc., First lien senior secured delayed draw term loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 32 | 32 |
Investment, Identifier [Axis]: Kaseya Inc., First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 32 | 32 |
Investment, Identifier [Axis]: Lazer Spot Holdings, Inc. (f/k/a Lazer Spot GB Holdings, Inc.), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 7,542 | 7,542 |
Investment, Identifier [Axis]: Lignetics Investment Corp., First lien senior secured delayed draw term loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 0 | 1,225 |
Investment, Identifier [Axis]: Lignetics Investment Corp., First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 686 | 588 |
Investment, Identifier [Axis]: Litera Bidco LLC, First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 1,013 | 734 |
Investment, Identifier [Axis]: MHE Intermediate Holdings, LLC (dba OnPoint Group), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 1,536 | 1,536 |
Investment, Identifier [Axis]: MINDBODY, Inc., First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 1,071 | 1,071 |
Investment, Identifier [Axis]: Mario Purchaser, LLC (dba Len the Plumber), First lien senior secured delayed draw term loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 195 | 195 |
Investment, Identifier [Axis]: Mario Purchaser, LLC (dba Len the Plumber), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 55 | 55 |
Investment, Identifier [Axis]: Milan Laser Holdings LLC, First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 1,961 | 1,961 |
Investment, Identifier [Axis]: Ministry Brands Holdings, LLC, First lien senior secured delayed draw term loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 197 | 226 |
Investment, Identifier [Axis]: Ministry Brands Holdings, LLC, First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 51 | 34 |
Investment, Identifier [Axis]: NMI Acquisitionco, Inc. (dba Network Merchants), First lien senior secured delayed draw term loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 406 | 406 |
Investment, Identifier [Axis]: NMI Acquisitionco, Inc. (dba Network Merchants), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 218 | 218 |
Investment, Identifier [Axis]: National Dentex Labs LLC (fka Barracuda Dental LLC), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 258 | 31 |
Investment, Identifier [Axis]: Natural Partners, LLC, First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 68 | 68 |
Investment, Identifier [Axis]: Nelipak Holding Company, First lien senior secured EUR revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 648 | 535 |
Investment, Identifier [Axis]: Nelipak Holding Company, First lien senior secured USD revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 577 | 752 |
Investment, Identifier [Axis]: Norvax, LLC (dba GoHealth), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 2,727 | 2,727 |
Investment, Identifier [Axis]: Notorious Topco, LLC (dba Beauty Industry Group), First lien senior secured delayed draw term loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 1,408 | 1,408 |
Investment, Identifier [Axis]: Notorious Topco, LLC (dba Beauty Industry Group), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 1,690 | 1,761 |
Investment, Identifier [Axis]: OB Hospitalist Group, Inc., First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 1,798 | 1,915 |
Investment, Identifier [Axis]: Ocala Bidco, Inc., First lien senior secured delayed draw term loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 4,499 | 4,499 |
Investment, Identifier [Axis]: Pacific BidCo Inc., First lien senior secured delayed draw term loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 191 | 191 |
Investment, Identifier [Axis]: Patriot Acquisition TopCo S.A.R.L (dba Corza Health, Inc.), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 2,654 | 2,086 |
Investment, Identifier [Axis]: Peter C. Foy & Associates Insurance Services, LLC (dba PCF Insurance Services), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 1,035 | 1,035 |
Investment, Identifier [Axis]: Plasma Buyer LLC (dba PathGroup), First lien senior secured delayed draw term loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 177 | 177 |
Investment, Identifier [Axis]: Plasma Buyer LLC (dba PathGroup), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 76 | 76 |
Investment, Identifier [Axis]: Pluralsight, LLC, First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 647 | 647 |
Investment, Identifier [Axis]: Project Power Buyer, LLC (dba PEC-Veriforce), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 563 | 563 |
Investment, Identifier [Axis]: QAD, Inc., First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 571 | 571 |
Investment, Identifier [Axis]: Quva Pharma, Inc., First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 402 | 615 |
Investment, Identifier [Axis]: Relativity ODA LLC, First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 1,480 | 1,480 |
Investment, Identifier [Axis]: SWK BUYER, Inc. (dba Stonewall Kitchen), First lien senior secured delayed draw term loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 175 | 175 |
Investment, Identifier [Axis]: SWK BUYER, Inc. (dba Stonewall Kitchen), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 30 | 46 |
Investment, Identifier [Axis]: Sara Lee Frozen Bakery, LLC (fka KSLB Holdings, LLC), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 153 | 220 |
Investment, Identifier [Axis]: Securonix, Inc., First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 153 | 153 |
Investment, Identifier [Axis]: SimpliSafe Holding Corporation, First lien senior secured delayed draw term loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 103 | 103 |
Investment, Identifier [Axis]: Smarsh Inc., First lien senior secured delayed draw term loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 96 | 96 |
Investment, Identifier [Axis]: Smarsh Inc., First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 6 | 48 |
Investment, Identifier [Axis]: Sonny's Enterprises LLC, First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 2,630 | 2,630 |
Investment, Identifier [Axis]: Swipe Acquisition Corporation (dba PLI), First lien senior secured delayed draw term loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 772 | 772 |
Investment, Identifier [Axis]: Swipe Acquisition Corporation (dba PLI), Letter of Credit | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 882 | 882 |
Investment, Identifier [Axis]: THG Acquisition, LLC (dba Hilb), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 1,559 | 1,871 |
Investment, Identifier [Axis]: Tahoe Finco, LLC, First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 1,744 | 1,744 |
Investment, Identifier [Axis]: Tamarack Intermediate, L.L.C. (dba Verisk 3E), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 94 | 92 |
Investment, Identifier [Axis]: Tempo Buyer Corp. (dba Global Claims Services), First lien senior secured delayed draw term loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 198 | 198 |
Investment, Identifier [Axis]: Tempo Buyer Corp. (dba Global Claims Services), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 67 | 91 |
Investment, Identifier [Axis]: The Shade Store, LLC, First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 68 | 164 |
Investment, Identifier [Axis]: Thunder Purchaser, Inc. (dba Vector Solutions), First lien senior secured delayed draw term loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 1,502 | 1,502 |
Investment, Identifier [Axis]: Thunder Purchaser, Inc. (dba Vector Solutions), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 305 | 540 |
Investment, Identifier [Axis]: Total Unfunded Portfolio Company Commitments, First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 124,817 | 127,646 |
Investment, Identifier [Axis]: Troon Golf, L.L.C., First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 4,685 | 4,685 |
Investment, Identifier [Axis]: USRP Holdings, Inc. (dba U.S. Retirement and Benefits Partners), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 183 | 183 |
Investment, Identifier [Axis]: Ultimate Baked Goods Midco, LLC, First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 1,750 | 1,475 |
Investment, Identifier [Axis]: Unified Women's Healthcare, LP, First lien senior secured delayed draw term loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 15 | 33 |
Investment, Identifier [Axis]: Unified Women's Healthcare, LP, First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 88 | 88 |
Investment, Identifier [Axis]: Valence Surface Technologies LLC, First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 12 | 12 |
Investment, Identifier [Axis]: Velocity HoldCo III Inc. (dba VelocityEHS), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 294 | 294 |
Investment, Identifier [Axis]: WU Holdco, Inc. (dba Weiman Products, LLC), First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 1,690 | 1,690 |
Investment, Identifier [Axis]: Walker Edison Furniture Company LLC, First lien senior secured delayed draw term loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | 562 | 0 |
Investment, Identifier [Axis]: When I Work, Inc., First lien senior secured revolving loan | ||
Investments in and Advances to Affiliates [Line Items] | ||
Outstanding commitments to fund investments | $ 129 | $ 143 |
Commitments and Contingencies -
Commitments and Contingencies - Narrative (Details) - Affiliated Entity - USD ($) $ in Millions | 3 Months Ended | 90 Months Ended | ||
Feb. 19, 2020 | Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2023 | |
Organization and Offering Costs | Adviser | ||||
Related Party Transaction [Line Items] | ||||
Expenses from transactions with related party | $ 12.4 | |||
Investment Advisory Agreement | ||||
Related Party Transaction [Line Items] | ||||
Expenses from transactions with related party | $ 12.4 | |||
Investment Advisory Agreement, Percentage Of Gross Offering Proceeds, Maximum | ||||
Related Party Transaction [Line Items] | ||||
Gross offering proceeds (as a percent) | 1.50% | 1.50% | 1.50% |
Net Assets - Additional Informa
Net Assets - Additional Information (Details) - $ / shares | 3 Months Ended | 55 Months Ended | ||||||||
Feb. 21, 2023 | Mar. 30, 2022 | Feb. 23, 2022 | Jan. 25, 2022 | Apr. 04, 2017 | Sep. 30, 2016 | Mar. 31, 2023 | Mar. 31, 2022 | Apr. 30, 2021 | Dec. 31, 2022 | |
Equity, Class of Treasury Stock [Line Items] | ||||||||||
Shares authorized | 450,000,000 | 450,000,000 | ||||||||
Common stock per share | $ 0.01 | $ 0.01 | ||||||||
Monthly cash distributions (in dollars per share) | $ 0.050180 | $ 0.050180 | $ 0.050180 | 0.15 | $ 0.15 | |||||
Cash distribution, taxable income and net capital gains, threshold (in dollars per share) | 0.15054 | $ 0.15054 | ||||||||
Cash distribution, taxable income and net capital gains, maximum (in dollars per share) | $ 0.167271 | $ 0.167271 | ||||||||
Cash distributions (in dollars per share) | $ 0.167271 | $ 0.15054 | ||||||||
Expense Support And Conditional Reimbursement Agreement | Affiliated Entity | ||||||||||
Equity, Class of Treasury Stock [Line Items] | ||||||||||
Related party transaction, term | 3 years | 3 years | ||||||||
Common equity investments | Adviser | ||||||||||
Equity, Class of Treasury Stock [Line Items] | ||||||||||
Shares issued (in shares) | 100 | |||||||||
Common equity investments | Advisor Affiliates | ||||||||||
Equity, Class of Treasury Stock [Line Items] | ||||||||||
Shares issued (in shares) | 277,788 | |||||||||
Continuous Public Offering | Common equity investments | ||||||||||
Equity, Class of Treasury Stock [Line Items] | ||||||||||
Shares issued (in shares) | 151,364,239 |
Net Assets - Common Stock (Deta
Net Assets - Common Stock (Details) - USD ($) $ in Thousands | 3 Months Ended | |||||||||||||||||||||||||||||||||||||||
Mar. 29, 2023 | Mar. 01, 2023 | Feb. 28, 2023 | Feb. 02, 2023 | Feb. 01, 2023 | Dec. 28, 2022 | Nov. 30, 2022 | Nov. 28, 2022 | Nov. 15, 2022 | Oct. 26, 2022 | Sep. 28, 2022 | Aug. 31, 2022 | Aug. 29, 2022 | Jul. 27, 2022 | Jun. 29, 2022 | May 27, 2022 | May 25, 2022 | Apr. 27, 2022 | Mar. 30, 2022 | Mar. 01, 2022 | Feb. 23, 2022 | Jan. 26, 2022 | Dec. 29, 2021 | Nov. 29, 2021 | Nov. 24, 2021 | Oct. 27, 2021 | Sep. 29, 2021 | Aug. 30, 2021 | Aug. 25, 2021 | Jul. 28, 2021 | Jun. 30, 2021 | Jun. 01, 2021 | May 26, 2021 | Mar. 10, 2021 | Nov. 16, 2020 | Aug. 24, 2020 | May 26, 2020 | Mar. 09, 2020 | Mar. 31, 2023 | Mar. 31, 2022 | |
Equity [Abstract] | ||||||||||||||||||||||||||||||||||||||||
Reinvestment of distributions (in shares) | 376,723 | 380,932 | 126,215 | 379,272 | 380,728 | 390,290 | 58,594 | 391,492 | 390,703 | 396,093 | 398,628 | 395,352 | 393,757 | 392,301 | 391,196 | 390,759 | 389,571 | 387,939 | 389,853 | 387,954 | 384,273 | 389,897 | 392,202 | 450,718 | 364,726 | 1,263,143 | 1,171,526 | |||||||||||||
Repurchased Shares (in shares) | (2,595,339) | (2,309,063) | (2,630,292) | (2,961,334) | (1,730,010) | (1,317,742) | (1,323,510) | (2,182,596) | (1,945,553) | (794,091) | (1,797,979) | (600,204) | (1,462,441) | (2,595,339) | (1,730,010) | |||||||||||||||||||||||||
Total shares/net proceeds (in shares) | (1,332,196) | (558,484) | ||||||||||||||||||||||||||||||||||||||
Reinvestment of distributions | $ 11,229 | $ 10,481 | ||||||||||||||||||||||||||||||||||||||
Repurchased shares | (23,098) | (15,362) | ||||||||||||||||||||||||||||||||||||||
Total shares/net proceeds | $ (11,869) | $ (4,881) |
Net Assets - Public Offering (D
Net Assets - Public Offering (Details) - $ / shares | Mar. 23, 2021 | Jan. 06, 2021 | Dec. 23, 2020 | Sep. 23, 2020 | Sep. 09, 2020 | Aug. 26, 2020 | Aug. 19, 2020 | Jul. 29, 2020 | Jul. 22, 2020 | Jul. 14, 2020 | Jun. 16, 2020 | Jun. 09, 2020 | Jun. 02, 2020 | May 27, 2020 | May 19, 2020 | Apr. 22, 2020 | Apr. 15, 2020 | Mar. 25, 2020 | Mar. 18, 2020 | Mar. 10, 2020 | Jan. 15, 2020 | Oct. 09, 2019 | Jul. 03, 2019 | Apr. 09, 2019 | Apr. 03, 2019 | Feb. 27, 2019 | Feb. 19, 2019 | Jan. 22, 2019 | Oct. 09, 2018 | Jul. 18, 2018 | Jan. 31, 2018 | Jan. 17, 2018 | May 02, 2017 | Sep. 30, 2016 |
IPO | ||||||||||||||||||||||||||||||||||
Equity, Class of Treasury Stock [Line Items] | ||||||||||||||||||||||||||||||||||
Gross Offering Price Per Share (in dollars per share) | $ 9.47 | |||||||||||||||||||||||||||||||||
Net Offering Price Per Share (in dollars per share) | $ 9 | |||||||||||||||||||||||||||||||||
Continuous public offering and follow-on continuous public offering | ||||||||||||||||||||||||||||||||||
Equity, Class of Treasury Stock [Line Items] | ||||||||||||||||||||||||||||||||||
Gross Offering Price Per Share (in dollars per share) | $ 9.42 | $ 9.37 | $ 9.32 | $ 9.24 | $ 9.21 | $ 9.18 | $ 9.16 | $ 9.14 | $ 9.12 | $ 9.08 | $ 9.05 | $ 9.02 | $ 8.96 | $ 8.93 | $ 8.87 | $ 8.85 | $ 8.80 | $ 8.74 | $ 8.83 | $ 9.41 | $ 9.51 | $ 9.49 | $ 9.56 | $ 9.55 | $ 9.54 | $ 9.52 | $ 9.51 | $ 9.46 | $ 9.57 | $ 9.56 | $ 9.55 | $ 9.53 | $ 9.52 | |
Net Offering Price Per Share (in dollars per share) | $ 8.95 | $ 8.90 | $ 8.85 | $ 8.78 | $ 8.75 | $ 8.72 | $ 8.70 | $ 8.68 | $ 8.66 | $ 8.63 | $ 8.60 | $ 8.57 | $ 8.51 | $ 8.48 | $ 8.43 | $ 8.41 | $ 8.36 | $ 8.30 | $ 8.39 | $ 8.94 | $ 9.03 | $ 9.02 | $ 9.08 | $ 9.07 | $ 9.06 | $ 9.04 | $ 9.03 | $ 8.99 | $ 9.09 | $ 9.08 | $ 9.07 | $ 9.05 | $ 9.04 |
Net Assets - Dividend Reinvestm
Net Assets - Dividend Reinvestment Plan (Details) - $ / shares | 3 Months Ended | ||||||||||||||||||||||||||
Mar. 29, 2023 | Mar. 01, 2023 | Feb. 02, 2023 | Feb. 01, 2023 | Dec. 28, 2022 | Nov. 30, 2022 | Nov. 15, 2022 | Oct. 26, 2022 | Sep. 28, 2022 | Aug. 31, 2022 | Jul. 27, 2022 | Jun. 29, 2022 | May 25, 2022 | Apr. 27, 2022 | Mar. 30, 2022 | Feb. 23, 2022 | Jan. 26, 2022 | Dec. 29, 2021 | Nov. 24, 2021 | Oct. 27, 2021 | Sep. 29, 2021 | Aug. 25, 2021 | Jul. 28, 2021 | Jun. 30, 2021 | May 26, 2021 | Mar. 31, 2023 | Mar. 31, 2022 | |
Equity [Abstract] | |||||||||||||||||||||||||||
Number of Shares (in shares) | 376,723 | 380,932 | 126,215 | 379,272 | 380,728 | 390,290 | 58,594 | 391,492 | 390,703 | 396,093 | 398,628 | 395,352 | 393,757 | 392,301 | 391,196 | 390,759 | 389,571 | 387,939 | 389,853 | 387,954 | 384,273 | 389,897 | 392,202 | 450,718 | 364,726 | 1,263,143 | 1,171,526 |
Purchase Price per Share (in dollars per share) | $ 8.90 | $ 8.88 | $ 8.89 | $ 8.89 | $ 8.86 | $ 8.76 | $ 8.77 | $ 8.77 | $ 8.77 | $ 8.74 | $ 8.66 | $ 8.69 | $ 8.87 | $ 8.88 | $ 8.88 | $ 8.98 | $ 8.98 | $ 9 | $ 8.95 | $ 8.96 | $ 9 | $ 8.95 | $ 8.95 | $ 8.99 | $ 8.93 |
Net Assets - Distributions (Det
Net Assets - Distributions (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |||||
Feb. 21, 2023 | Feb. 23, 2022 | Jan. 25, 2022 | Mar. 31, 2023 | Mar. 31, 2022 | ||
Equity [Abstract] | ||||||
Monthly cash distributions (in dollars per share) | $ 0.050180 | $ 0.050180 | $ 0.050180 | $ 0.15 | $ 0.15 | |
Quarterly cash distributions (in dollars per share) | 0.02 | |||||
Cash distributions (in dollars per share) | $ 0.167271 | $ 0.15054 | ||||
Monthly cash distributions | $ 22,125 | $ 22,847 | ||||
Quarterly cash distributions | 2,429 | |||||
Cash distributions | [1] | $ 24,554 | $ 22,847 | |||
[1]For the three months ended March 31, 2023 and 2022, distributions declared from earnings were derived from net investment income. |
Net Assets - Cash Distributions
Net Assets - Cash Distributions (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | ||
Equity [Abstract] | |||
Net investment income (in dollars per share) | $ 0.18 | $ 0.16 | |
Net realized gain (loss) on investments (in dollars per share) | 0 | 0 | |
Distributions in excess of (undistributed) net investment income and realized gains (in dollars per share) | (0.01) | (0.01) | |
Net increase (decrease) in net assets from shareholders' distributions (in dollars per share) | $ 0.17 | $ 0.15 | |
Net investment income | $ 26,888 | $ 22,984 | |
Net realized gain (loss) on investments | 0 | 740 | |
Distributions in excess of (undistributed) net investment income and realized gains | (2,334) | (877) | |
Cash distributions | [1] | $ 24,554 | $ 22,847 |
Net investment income (as percent) | 109.50% | 100.60% | |
Net realized gain (loss) on investments (as percent) | 0% | 3.20% | |
Distributions in excess of (undistributed) net investment income and realized gains (as percent) | (9.50%) | (3.80%) | |
Total (as percent) | 100% | 100% | |
[1]For the three months ended March 31, 2023 and 2022, distributions declared from earnings were derived from net investment income. |
Net Assets - Share Repurchases
Net Assets - Share Repurchases (Details) - USD ($) | 3 Months Ended | ||||||||||||||
Feb. 28, 2023 | Nov. 28, 2022 | Aug. 29, 2022 | May 27, 2022 | Mar. 01, 2022 | Nov. 29, 2021 | Aug. 30, 2021 | Jun. 01, 2021 | Mar. 10, 2021 | Nov. 16, 2020 | Aug. 24, 2020 | May 26, 2020 | Mar. 09, 2020 | Mar. 31, 2023 | Mar. 31, 2022 | |
Equity [Abstract] | |||||||||||||||
Tender Offer | $ 23,098,513 | $ 20,458,302 | $ 23,067,664 | $ 25,733,988 | $ 15,362,486 | $ 11,859,682 | $ 11,911,588 | $ 19,621,539 | $ 18,995,153 | $ 16,153,577 | $ 21,493,631 | $ 16,280,933 | $ 21,398,616 | ||
Purchase Price per Share (in dollars per share) | $ 8.90 | $ 8.86 | $ 8.77 | $ 8.69 | $ 8.88 | $ 9 | $ 9 | $ 8.99 | $ 8.95 | $ 8.78 | $ 8.78 | $ 8.60 | $ 8.30 | ||
Shares Repurchased (in shares) | 2,595,339 | 2,309,063 | 2,630,292 | 2,961,334 | 1,730,010 | 1,317,742 | 1,323,510 | 2,182,596 | 1,945,553 | 794,091 | 1,797,979 | 600,204 | 1,462,441 | 2,595,339 | 1,730,010 |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Earnings Per Share [Abstract] | ||
Increase (decrease) in net assets resulting from operations | $ 31,335 | $ 10,005 |
Weighted-average shares outstanding, basic (in shares) | 146,892,513 | 151,788,770 |
Weighted-average shares outstanding, diluted (in shares) | 146,892,513 | 151,788,770 |
Earnings per common share, basic (in dollars per share) | $ 0.21 | $ 0.07 |
Earnings per common share, diluted (in dollars per share) | $ 0.21 | $ 0.07 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Details) - USD ($) | 3 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Income Tax Disclosure [Abstract] | |||
Current tax expense | $ 864,000 | $ 269,000 | |
Excise tax expense (benefit) | 300,000 | 0 | |
Tax expense for taxable subsidiaries | 600,000 | $ 300,000 | |
Net deferred tax liabilities | $ 5,800,000 | $ 5,300,000 |
Financial Highlights (Details)
Financial Highlights (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Investment Company, Net Assets [Roll Forward] | ||||
Net asset value, at beginning of period | $ 8.85 | $ 8.98 | ||
Net investment income (in dollars per share) | 0.18 | 0.16 | ||
Net realized and unrealized gain (loss) (in dollars per share) | 0.03 | (0.09) | ||
Net increase (decrease) in net assets resulting from operations | 0.21 | 0.07 | ||
Distributions from net investment income (in dollars per share) | (0.18) | (0.16) | ||
Distributions from net realized gains (in dollars per share) | 0 | 0 | ||
Undistributed (distributions in excess of) net investment income and net realized gains (in dollars per share) | 0.01 | 0.01 | ||
Net increase (decrease) in net assets from shareholders' distributions (in dollars per share) | (0.17) | (0.15) | ||
Net asset value, at end of period | $ 8.89 | $ 8.90 | ||
Total Return | 2.20% | 0.60% | ||
Ratio of net expenses to average net assets (as percent) | 12.50% | 7.50% | ||
Ratio of net investment income to average net assets (as percent) | 8.30% | 6.80% | ||
Portfolio turnover rate (as percent) | 0.80% | 2.70% | ||
Weighted-average shares outstanding (in shares) | 146,892,513 | 151,788,770 | ||
Shares outstanding, end of period | 145,173,088 | 150,818,035 | 146,505,284 | |
Net assets, end of period | $ 1,291,173 | $ 1,341,968 | $ 1,296,261 | $ 1,359,691 |
Ratio of total expenses to average net assets | 10.70% | 7.50% |
Subsequent Events (Details)
Subsequent Events (Details) - $ / shares | 3 Months Ended | ||||||||
May 09, 2023 | Apr. 04, 2023 | Apr. 03, 2023 | Feb. 21, 2023 | Mar. 30, 2022 | Feb. 23, 2022 | Jan. 25, 2022 | Mar. 31, 2023 | Mar. 31, 2022 | |
Subsequent Event [Line Items] | |||||||||
Monthly cash distributions (in dollars per share) | $ 0.050180 | $ 0.050180 | $ 0.050180 | $ 0.15 | $ 0.15 | ||||
Cash distribution, taxable income and net capital gains, threshold (in dollars per share) | 0.15054 | $ 0.15054 | |||||||
Cash distribution, taxable income and net capital gains, maximum (in dollars per share) | $ 0.167271 | $ 0.167271 | |||||||
Subsequent Event | |||||||||
Subsequent Event [Line Items] | |||||||||
Monthly cash distributions (in dollars per share) | $ 0.050180 | ||||||||
Cash distribution, taxable income and net capital gains, threshold (in dollars per share) | 0.15054 | ||||||||
Cash distribution, taxable income and net capital gains, maximum (in dollars per share) | $ 0.167271 | ||||||||
Subsequent Event | SPV Asset Facility II | Line of Credit | SOFR | |||||||||
Subsequent Event [Line Items] | |||||||||
Interest rate in addition to basis and basis spread | 2.75% | 2.50% |