CNL Strategic Capital 10-K 31 Mar 22 2021 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2021	Mar. 28, 2022	Jun. 30, 2021
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Document Transition Report	false
Entity File Number	333-222986
Entity Registrant Name	CNL STRATEGIC CAPITAL, LLC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	32-0503849
Entity Address, Address Line One	CNL Center at City Commons
Entity Address, Address Line Two	450 South Orange Avenue
Entity Address, State or Province	FL
Entity Address, City or Town	Orlando,
Entity Address, Postal Zip Code	32801
City Area Code	407
Local Phone Number	650-1000
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Documents Incorporated by Reference	Registrant incorporates by reference portions of the CNL Strategic Capital, LLC definitive proxy statement for the 2022 Annual Meeting of Shareholders (Items 10, 11, 12, 13 and 14 of Part III) to be filed no later than April 30, 2022. Certain exhibits previously filed with the Securities and Exchange Commission are incorporated by reference into Part IV of this report.
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Central Index Key	0001684682
Current Fiscal Year End Date	--12-31
Entity Public Float			$ 0
Class A
Document Information [Line Items]
Title of 12(g) Security	Class A Shares of Limited Liability Company Interests, $0.001 par value per share
Entity Common Stock, Shares Outstanding		1,575,181
Class FA
Document Information [Line Items]
Title of 12(g) Security	Class FA Shares of Limited Liability Company Interests, $0.001 par value per share
Entity Common Stock, Shares Outstanding		4,558,900
Class T
Document Information [Line Items]
Title of 12(g) Security	Class T Shares of Limited Liability Company Interests, $0.001 par value per share
Entity Common Stock, Shares Outstanding		1,656,119
Class D
Document Information [Line Items]
Title of 12(g) Security	Class D Shares of Limited Liability Company Interests, $0.001 par value per share
Entity Common Stock, Shares Outstanding		1,084,169
Class I
Document Information [Line Items]
Title of 12(g) Security	Class I Shares of Limited Liability Company Interests, $0.001 par value per share
Entity Common Stock, Shares Outstanding		5,928,188
Class S
Document Information [Line Items]
Title of 12(g) Security	Class S Shares of Limited Liability Company Interests, $0.001 par value per share
Entity Common Stock, Shares Outstanding		1,766,079

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2021
Audit Information [Abstract]
Auditor Firm ID	42
Auditor Name	Ernst & Young LLP
Auditor Location	Orlando, Florida

CONSOLIDATED STATEMENTS OF ASSE

CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES - USD ($)	Dec. 31, 2021		Dec. 31, 2020
Assets
Investments at fair value (amortized cost of $387,753,685 and $197,457,113, respectively)	$ 455,996,741	[1],[2]	$ 231,197,454	[3],[4]
Cash	58,704,208		82,688,211
Deferred offering expenses	0		61,549
Prepaid expenses and other assets	142,625		130,161
Total assets	514,843,574		314,077,375
Liabilities
Net due to related parties (Note 5)	9,921,526		1,476,458
Deferred tax liability, net	1,876,863		266,789
Distributions payable	1,566,489		1,017,405
Accounts payable and other accrued expenses	660,929		385,083
Payable for shares repurchased	508,770		1,968,732
Total liabilities	14,534,577		5,114,467
Commitments and contingencies (Note 11)
Members’ Equity (Net Assets)
Preferred shares, $0.001 par value, 50,000,000 shares authorized and unissued	0		0
Common shares	15,813		10,459
Capital in excess of par value	442,752,357		278,908,028
Distributable earnings	57,540,827		30,044,421
Total Members’ Equity	500,308,997		308,962,908
Net assets, Total Members’ Equity	500,308,997	[1],[2]	308,962,908	[3],[4]
Class FA
Members’ Equity (Net Assets)
Common shares	4,559		4,579
Net assets, Total Members’ Equity	148,716,308		137,237,594
Class A
Members’ Equity (Net Assets)
Common shares	1,461		1,034
Net assets, Total Members’ Equity	44,957,765		29,747,587
Class T
Members’ Equity (Net Assets)
Common shares	1,609		655
Net assets, Total Members’ Equity	49,328,483		18,771,713
Class D
Members’ Equity (Net Assets)
Common shares	1,008		454
Net assets, Total Members’ Equity	30,606,947		12,813,290
Class I
Members’ Equity (Net Assets)
Common shares	5,410		1,967
Net assets, Total Members’ Equity	168,704,080		57,147,617
Class S
Members’ Equity (Net Assets)
Common shares	1,766		1,770
Net assets, Total Members’ Equity	$ 57,995,414		$ 53,245,107
[1]	Percentages represent fair value as a percentage of net assets for each investment category.
[2]	Security may be an obligation of one or more entities affiliated with the named company.
[3]	Percentages represent fair value as a percentage of net assets for each investment category.
[4]	Security may be an obligation of one or more entities affiliated with the named company.

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Investment Income
Interest income	$ 17,298,721	$ 10,341,158
Dividend income	14,172,232	4,112,693
Total investment income	31,470,953	14,453,851
Operating Expenses
Total return incentive fees	7,282,840	4,150,562
Base management fees	4,845,052	2,596,842
Organization and offering expenses	2,551,926	1,106,111
Professional services	1,343,654	1,397,606
Pursuit costs	651,362	154,727
Distribution and shareholder servicing fees	396,774	165,012
Insurance expense	233,073	212,321
Custodian and accounting fees	234,951	170,298
Director fees and expenses	203,000	201,671
General and administrative expenses	174,322	106,702
Total operating expenses	17,916,954	10,261,852
Expense support	0	(3,301,473)
Reimbursement of expense support	1,830,920	0
Net operating expenses	19,747,874	6,960,379
Net investment income before taxes	11,723,079	7,493,472
Income tax expense	1,630,230	0
Net investment income	10,092,849	7,493,472
Net unrealized appreciation on investments:
Net change in unrealized appreciation on investments	34,502,715	22,819,680
Net change in deferred taxes on investments	(1,610,074)	(266,789)
Net increase in net assets resulting from operations	$ 42,985,490	$ 30,046,363
Common shares per share information:
Net investment income (usd per share)	$ 0.79	$ 0.93
Net increase in net assets resulting from operations (usd per share)	$ 3.39	$ 3.72
Weighted average number of common shares outstanding (in shares)	12,696,345	8,084,469

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS - USD ($)	12 Months Ended
	Dec. 31, 2021		Dec. 31, 2020
Changes In Net Assets, Common Shares, Number Of Shares [Roll Forward]
Beginning balance (in shares)	10,458,248		6,354,831
Repurchase of common shares pursuant to share repurchase program (in shares)	(107,038)		(341,225)
Ending balance (in shares)	15,813,031		10,458,248
Investment Company, Net Assets [Roll Forward]
Par value, beginning balance	$ 10,459		$ 6,355
Capital in excess of par value, beginning balance	278,908,028		164,349,125
Distributable earnings, beginning balance	30,044,421		9,927,411
Total net assets, beginning balance	308,962,908	[1],[2]	174,282,891
Net investment income	10,092,849		7,493,472
Net change in unrealized appreciation on investments, net of tax	32,892,641		22,552,891
Distributions to shareholders	(15,489,084)		(9,929,353)
Issuance of common shares through the Offerings	162,966,169		122,100,131
Issuance of common shares through distribution reinvestment plan	4,174,382		2,109,793
Repurchase of common shares pursuant to share repurchase program	(3,290,868)		(9,646,917)
Par value, ending balance	15,813		10,459
Capital in excess of par value, ending balance	442,752,357		278,908,028
Distributable earnings, ending balance	57,540,827		30,044,421
Total net assets, ending balance	$ 500,308,997	[3],[4]	$ 308,962,908	[1],[2]
Public Offering
Changes In Net Assets, Common Shares, Number Of Shares [Roll Forward]
Issuance of common shares through the Offerings (in shares)	5,324,390		4,367,120
Investment Company, Net Assets [Roll Forward]
Issuance of common shares through the Offerings			$ 4,367
Distribution Reinvestment Plan
Changes In Net Assets, Common Shares, Number Of Shares [Roll Forward]
Issuance of common shares through distribution reinvestment plan (in shares)	137,431		77,522
Investment Company, Net Assets [Roll Forward]
Issuance of common shares through distribution reinvestment plan	$ 4,174,382		$ 2,109,793
Capital in Excess of Par Value
Investment Company, Net Assets [Roll Forward]
Issuance of common shares through the Offerings	162,960,845		122,095,764
Issuance of common shares through distribution reinvestment plan	4,174,245		2,109,715
Repurchase of common shares pursuant to share repurchase program	$ (3,290,761)		$ (9,646,576)
Share Repurchase Program
Changes In Net Assets, Common Shares, Number Of Shares [Roll Forward]
Repurchase of common shares pursuant to share repurchase program (in shares)	(107,038)		(341,225)
Investment Company, Net Assets [Roll Forward]
Repurchase of common shares pursuant to share repurchase program	$ (107)		$ (341)
Common Shares | Public Offering
Investment Company, Net Assets [Roll Forward]
Issuance of common shares through the Offerings	5,324
Common Shares | Distribution Reinvestment Plan
Investment Company, Net Assets [Roll Forward]
Issuance of common shares through distribution reinvestment plan	$ 137		$ 78
[1]	Percentages represent fair value as a percentage of net assets for each investment category.
[2]	Security may be an obligation of one or more entities affiliated with the named company.
[3]	Percentages represent fair value as a percentage of net assets for each investment category.
[4]	Security may be an obligation of one or more entities affiliated with the named company.

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Operating Activities:
Net increase in net assets resulting from operations	$ 42,985,490	$ 30,046,363
Adjustments to reconcile net increase in net assets resulting from operations to net cash used in operating activities:
Purchases of investments	(192,759,287)	(64,182,774)
Proceeds from return of capital on investments	2,462,715	0
Net change in unrealized appreciation on investments	(34,502,715)	(22,819,680)
Amortization of deferred offering expenses	69,135	250,174
Amortization of deferred financing costs	40,862	37,328
Increase (decrease) in net due to (from) related parties	8,445,068	1,755,022
(Decrease) increase in payable for investments purchased	0	(118,009)
Increase in accounts payable and other accrued expenses	275,846	59,634
Increase in deferred offering expenses	(7,586)	(286,300)
Increase in deferred tax liabilities, net	1,610,074	266,789
Increase in prepaid expenses and other assets	(32,576)	(11,758)
Net cash used in operating activities	(171,412,974)	(55,003,211)
Financing Activities:
Proceeds from issuance of common shares	162,966,169	122,100,131
Payment on repurchases of common shares	(4,750,830)	(7,901,923)
Distributions paid, net of distributions reinvested	(10,765,618)	(7,395,691)
Deferred financing costs	(20,750)	(65,100)
Net cash provided by financing activities	147,428,971	106,737,417
Net (decrease) increase in cash and restricted cash	(23,984,003)	51,734,206
Cash and restricted cash, beginning of period	82,688,211	30,954,005
Cash and restricted cash, end of period	58,704,208	82,688,211
Supplemental disclosure of cash flow information:
Cash paid for income taxes	1,529,500	0
Supplemental disclosure of non-cash financing activities:
Distributions reinvested	4,174,382	2,109,793
Amounts incurred but not paid (including amounts due to related parties):
Distributions payable	1,566,489	1,017,405
Offering costs	175,749	122,779
Payable for shares repurchased	$ 508,770	$ 1,968,732

CONSOLIDATED SCHEDULE OF INVEST

CONSOLIDATED SCHEDULE OF INVESTMENTS		12 Months Ended
		Dec. 31, 2021USD ($)		Dec. 31, 2020USD ($)
Cost		$ 387,753,685	[1],[2]	$ 197,457,113	[3],[4]
Fair Value		455,996,741	[1],[2]	231,197,454	[3],[4]
OTHER ASSETS IN EXCESS OF LIABILITIES–8.8%		44,312,256	[1],[2]	77,765,454	[3],[4]
NET ASSETS–100.0%		500,308,997	[1],[2]	308,962,908	[3],[4]
Total Senior Secured Notes
Cost		152,542,454	[1],[2]	78,042,454	[3],[4]
Fair Value		152,542,454	[1],[2]	78,042,454	[3],[4]
Senior Secured Note – First Lien–23.3%
Cost		116,600,000	[1],[2]	42,100,000	[3],[4]
Fair Value		$ 116,600,000	[1],[2]	$ 42,100,000	[3],[4]
Senior Secured Note – First Lien–23.3% | ATA
Interest Rate	[1],[2]	0.150
Senior Secured Note – First Lien–23.3% | ATA | Real Estate Services
Principal Amount / No. Shares	[1],[2]	$ 37,000,000
Cost	[1],[2]	37,000,000
Fair Value	[1],[2]	$ 37,000,000
Senior Secured Note – First Lien–23.3% | Auriemma U.S. Roundtables
Interest Rate	[1],[2]	0.080
Senior Secured Note – First Lien–23.3% | Auriemma U.S. Roundtables | Information Services and Advisory Solutions
Principal Amount / No. Shares	[1],[2]	$ 2,000,000
Cost	[1],[2]	2,000,000
Fair Value	[1],[2]	$ 2,000,000
Senior Secured Note – First Lien–23.3% | Clarion Safety Systems
Interest Rate	[1],[2]	0.150
Senior Secured Note – First Lien–23.3% | Clarion Safety Systems | Visual Safety Solutions
Principal Amount / No. Shares	[1],[2]	$ 22,500,000
Cost	[1],[2]	22,500,000
Fair Value	[1],[2]	$ 22,500,000
Senior Secured Note – First Lien–23.3% | Douglas Machines Corp.
Interest Rate	[1],[2]	0.160
Senior Secured Note – First Lien–23.3% | Douglas Machines Corp. | Sanitation Products
Principal Amount / No. Shares	[1],[2]	$ 15,000,000
Cost	[1],[2]	15,000,000
Fair Value	[1],[2]	$ 15,000,000
Senior Secured Note – First Lien–23.3% | HSH
Interest Rate		0.150	[1],[2]	0.150	[3],[4]
Senior Secured Note – First Lien–23.3% | HSH | Healthcare Supplies
Principal Amount / No. Shares		$ 24,400,000	[1],[2]	$ 24,400,000	[3],[4]
Cost		24,400,000	[1],[2]	24,400,000	[3],[4]
Fair Value		$ 24,400,000	[1],[2]	$ 24,400,000	[3],[4]
Senior Secured Note – First Lien–23.3% | Polyform Products, Co.
Interest Rate		0.160	[1],[2]	0.160	[3],[4]
Senior Secured Note – First Lien–23.3% | Polyform Products, Co. | Hobby Goods and Supplies
Principal Amount / No. Shares		$ 15,700,000	[1],[2]	$ 15,700,000	[3],[4]
Cost		15,700,000	[1],[2]	15,700,000	[3],[4]
Fair Value		15,700,000	[1],[2]	$ 15,700,000	[3],[4]
Senior Secured Note – First Lien–23.3% | Auriemma U.S. Roundtables
Interest Rate	[3],[4]			0.080
Senior Secured Note – First Lien–23.3% | Auriemma U.S. Roundtables | Information Services and Advisory Solutions
Principal Amount / No. Shares	[3],[4]			$ 2,000,000
Cost	[3],[4]			2,000,000
Fair Value	[3],[4]			2,000,000
Senior Secured Note – Second Lien–7.2%
Cost		35,942,454	[1],[2]	35,942,454	[3],[4]
Fair Value		$ 35,942,454	[1],[2]	$ 35,942,454	[3],[4]
Senior Secured Note – Second Lien–7.2% | Auriemma U.S. Roundtables
Interest Rate	[1],[2]	0.160
Senior Secured Note – Second Lien–7.2% | Auriemma U.S. Roundtables | Information Services and Advisory Solutions
Principal Amount / No. Shares	[1],[2]	$ 12,114,338
Cost	[1],[2]	12,114,338
Fair Value	[1],[2]	$ 12,114,338
Senior Secured Note – Second Lien–7.2% | Blue Ridge ESOP Associates
Interest Rate		0.150	[1],[2]	0.150	[3],[4]
Senior Secured Note – Second Lien–7.2% | Blue Ridge ESOP Associates | Business Services
Principal Amount / No. Shares		$ 2,640,844	[1],[2]	$ 2,640,844	[3],[4]
Cost		2,640,844	[1],[2]	2,640,844	[3],[4]
Fair Value		$ 2,640,844	[1],[2]	$ 2,640,844	[3],[4]
Senior Secured Note – Second Lien–7.2% | Lawn Doctor, Inc.
Interest Rate		0.160	[1],[2]	0.160	[3],[4]
Senior Secured Note – Second Lien–7.2% | Lawn Doctor, Inc. | Commercial and Professional Services
Principal Amount / No. Shares		$ 15,000,000	[1],[2]	$ 15,000,000	[3],[4]
Cost		15,000,000	[1],[2]	15,000,000	[3],[4]
Fair Value		$ 15,000,000	[1],[2]	$ 15,000,000	[3],[4]
Senior Secured Note – Second Lien–7.2% | Milton Industries, Inc.
Interest Rate		0.150	[1],[2]	0.150	[3],[4]
Senior Secured Note – Second Lien–7.2% | Milton Industries, Inc. | Engineered Products
Principal Amount / No. Shares		$ 3,353,265	[1],[2]	$ 3,353,265	[3],[4]
Cost		3,353,265	[1],[2]	3,353,265	[3],[4]
Fair Value		$ 3,353,265	[1],[2]	$ 3,353,265	[3],[4]
Senior Secured Note – Second Lien–7.2% | Auriemma U.S. Roundtables
Interest Rate	[3],[4]			0.160
Senior Secured Note – Second Lien–7.2% | Auriemma U.S. Roundtables | Information Services and Advisory Solutions
Principal Amount / No. Shares	[3],[4]			$ 12,114,338
Cost	[3],[4]			12,114,338
Fair Value	[3],[4]			$ 12,114,338
Senior Secured Note – Second Lien–7.2% | Resolution Economics
Interest Rate		0.150	[1],[2]	0.150	[3],[4]
Senior Secured Note – Second Lien–7.2% | Resolution Economics | Business Services
Principal Amount / No. Shares		$ 2,834,007	[1],[2]	$ 2,834,007	[3],[4]
Cost		2,834,007	[1],[2]	2,834,007	[3],[4]
Fair Value		2,834,007	[1],[2]	2,834,007	[3],[4]
Equity–60.7%
Cost		235,211,231	[1],[2]	119,414,659	[3],[4]
Fair Value		303,454,287	[1],[2]	153,155,000	[3],[4]
Equity–60.7% | ATA | Real Estate Services
Principal Amount / No. Shares	[1],[2],[5]	36,980
Cost	[1],[2],[5]	36,000,000
Fair Value	[1],[2],[5]	41,612,000
Equity–60.7% | Clarion Safety Systems | Visual Safety Solutions
Principal Amount / No. Shares	[1],[2]	46,759
Cost	[1],[2]	46,759,287
Fair Value	[1],[2]	46,759,287
Equity–60.7% | Douglas Machines Corp. | Sanitation Products
Principal Amount / No. Shares	[1],[2],[5]	35,500
Cost	[1],[2],[5]	35,500,000
Fair Value	[1],[2],[5]	35,500,000
Equity–60.7% | HSH | Healthcare Supplies
Principal Amount / No. Shares		17,320	[1],[2],[5]	17,320	[3],[4],[6]
Cost		17,320,000	[1],[2],[5]	17,320,000	[3],[4],[6]
Fair Value		24,117,000	[1],[2],[5]	18,186,000	[3],[4],[6]
Equity–60.7% | Polyform Products, Co. | Hobby Goods and Supplies
Principal Amount / No. Shares		10,820	[1],[2],[5]	10,820	[3],[4],[6]
Cost		15,598,788	[1],[2],[5]	15,598,788	[3],[4],[6]
Fair Value		24,116,000	[1],[2],[5]	19,502,000	[3],[4],[6]
Equity–60.7% | Blue Ridge ESOP Associates | Business Services
Principal Amount / No. Shares		9,859	[1],[2]	9,859	[3],[4]
Cost		9,859,156	[1],[2]	9,859,156	[3],[4]
Fair Value		12,731,000	[1],[2]	10,877,000	[3],[4]
Equity–60.7% | Lawn Doctor, Inc. | Commercial and Professional Services
Principal Amount / No. Shares		7,746	[1],[2],[5]	7,746	[3],[4],[6]
Cost		28,012,836	[1],[2],[5]	30,475,551	[3],[4],[6]
Fair Value		56,806,000	[1],[2],[5]	48,685,000	[3],[4],[6]
Equity–60.7% | Milton Industries, Inc. | Engineered Products
Principal Amount / No. Shares		6,647	[1],[2]	6,647	[3],[4]
Cost		6,646,735	[1],[2]	6,646,735	[3],[4]
Fair Value		9,286,000	[1],[2]	10,090,000	[3],[4]
Equity–60.7% | Auriemma U.S. Roundtables | Information Services and Advisory Solutions
Principal Amount / No. Shares		32,386	[1],[2],[5]	32,386	[3],[4],[6]
Cost		32,385,662	[1],[2],[5]	32,385,662	[3],[4],[6]
Fair Value		40,902,000	[1],[2],[5]	37,272,000	[3],[4],[6]
Equity–60.7% | Resolution Economics | Business Services
Principal Amount / No. Shares		7,166	[1],[2]	7,166	[3],[4]
Cost		7,128,767	[1],[2]	7,128,767	[3],[4]
Fair Value		$ 11,625,000	[1],[2]	$ 8,543,000	[3],[4]
[1]	Percentages represent fair value as a percentage of net assets for each investment category.
[2]	Security may be an obligation of one or more entities affiliated with the named company.
[3]	Percentages represent fair value as a percentage of net assets for each investment category.
[4]	Security may be an obligation of one or more entities affiliated with the named company.
[5]	As of December 31, 2021, the Company owned a controlling interest in this portfolio company.
[6]	As of December 31, 2020, the Company owned a controlling interest in this portfolio company.

CONSOLIDATED SCHEDULE OF INVE_2

CONSOLIDATED SCHEDULE OF INVESTMENTS (Parenthetical)	Dec. 31, 2021	[1],[2]	Dec. 31, 2020	[3],[4]
Fair value percentage of Net Assets	91.20%		74.80%
Other Assets in Excess of Liabilities, Percent	8.80%		25.20%
Net Assets, Percent	100.00%		100.00%
First lien
Fair value percentage of Net Assets	23.30%		13.60%
Second lien
Fair value percentage of Net Assets	7.20%		11.60%
Equity
Fair value percentage of Net Assets	60.70%		49.60%
[1]	Percentages represent fair value as a percentage of net assets for each investment category.
[2]	Security may be an obligation of one or more entities affiliated with the named company.
[3]	Percentages represent fair value as a percentage of net assets for each investment category.
[4]	Security may be an obligation of one or more entities affiliated with the named company.

CONSOLIDATED STATEMENTS OF AS_2

CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES (Parenthetical) - USD ($)	Dec. 31, 2021		Dec. 31, 2020
Investment at amortized cost	$ 387,753,685	[1],[2]	$ 197,457,113	[3],[4]
Preferred stock, par value (in dollars per share)	$ 0.001		$ 0.001
Preferred stock, shares authorized (in shares)	50,000,000		50,000,000
Common stock, shares outstanding (in shares)	15,813,031		10,458,248
Class FA
Common stock, par value (in dollars per share)	$ 0.001		$ 0.001
Common stock, shares authorized (in shares)	7,400,000		7,400,000
Common stock, shares issued (in shares)	4,844,390		4,844,390
Common stock, shares outstanding (in shares)	4,558,900		4,578,537
Class A
Common stock, par value (in dollars per share)	$ 0.001		$ 0.001
Common stock, shares authorized (in shares)	94,660,000		94,660,000
Common stock, shares issued (in shares)	1,486,268		1,039,257
Common stock, shares outstanding (in shares)	1,460,512		1,034,377
Class T
Common stock, par value (in dollars per share)	$ 0.001		$ 0.001
Common stock, shares authorized (in shares)	558,620,000		558,620,000
Common stock, shares issued (in shares)	1,654,020		680,446
Common stock, shares outstanding (in shares)	1,609,088		654,672
Class D
Common stock, par value (in dollars per share)	$ 0.001		$ 0.001
Common stock, shares authorized (in shares)	94,660,000		94,660,000
Common stock, shares issued (in shares)	1,019,671		458,065
Common stock, shares outstanding (in shares)	1,008,619		453,724
Class I
Common stock, par value (in dollars per share)	$ 0.001		$ 0.001
Common stock, shares authorized (in shares)	94,660,000		94,660,000
Common stock, shares issued (in shares)	5,518,691		2,039,062
Common stock, shares outstanding (in shares)	5,409,833		1,966,552
Class S
Common stock, par value (in dollars per share)	$ 0.001		$ 0.001
Common stock, shares authorized (in shares)	100,000,000		100,000,000
Common stock, shares issued (in shares)	1,770,386		1,770,386
Common stock, shares outstanding (in shares)	1,766,079		1,770,386
[1]	Percentages represent fair value as a percentage of net assets for each investment category.
[2]	Security may be an obligation of one or more entities affiliated with the named company.
[3]	Percentages represent fair value as a percentage of net assets for each investment category.
[4]	Security may be an obligation of one or more entities affiliated with the named company.

Principal Business and Organiza

Principal Business and Organization	12 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principal Business and Organization	Principal Business and Organization CNL Strategic Capital, LLC (the “Company”) is a limited liability company that primarily seeks to acquire and grow durable, middle-market U.S. businesses. The Company is externally managed by CNL Strategic Capital Management, LLC (the “Manager”) and sub-managed by Levine Leichtman Strategic Capital, LLC (the “Sub-Manager”). The Manager is responsible for the overall management of the Company’s activities and the Sub-Manager is responsible for the day-to-day management of the Company’s assets. Each of the Manager and the Sub-Manager are registered as an investment adviser under the Investment Advisers Act of 1940, as amended. The Company conducts and intends to continue its operations so that the Company and each of its subsidiaries do not fall within, or are excluded from the definition of an “investment company” under the Investment Company Act of 1940, as amended (the “Investment Company Act”). The Company intends to target businesses that are highly cash flow generative, with annual revenues primarily between $15 million and $250 million and whose management teams seek an ownership stake in the company. The Company’s business strategy is to acquire controlling equity interests in combination with debt positions and in doing so, provide long-term capital appreciation and current income while protecting invested capital. The Company seeks to structure its investments with limited, if any, third-party senior leverage. The Company intends for a significant majority of its total assets to be comprised of long-term controlling equity interests and debt positions in the businesses it acquires. In addition and to a lesser extent, the Company may acquire other debt and minority equity positions, which may include acquiring debt in the secondary market and minority equity interests in combination with other funds managed by the Sub-Manager from co-investments with other partnerships managed by the Sub-Manager or their affiliates. The Company expects that these positions will comprise a minority of its total assets. During the period from commencement of operations on February 7, 2018 to December 31, 2020, the Company offered Class FA (“Class FA”) and Class S (“Class S”) limited liability company interests (collectively, the “Founder shares”) through a combination of four private offerings (the “Private Offerings”) only to persons that were “accredited investors,” as that person is defined under the Securities Act and Regulation D promulgated under the Securities Act. The Company conducted each of the Private Offerings pursuant to the applicable exemption under Section 4(a)(2) of the Securities Act and Rule 506(c) of Regulation D promulgated under the Securities Act. All of the Private Offerings were terminated on or before December 31, 2020. The Company commenced its initial public offering of up to $1.1 billion of its limited liability company interest (“shares”) on March 7, 2018 (the “Initial Public Offering”), which included up to $100.0 million of shares being offered through its distribution reinvestment plan, pursuant to a registration statement on Form S-1, as amended (the “Initial Registration Statement”). On November 1, 2021, the Company commenced a follow-on public offering of up to $1.1 billion of shares of its shares (the “Public Offering” and together with the Initial Public Offering, the “Public Offerings”), which included up to $100.0 million of shares being offered through its distribution reinvestment plan, pursuant to a registration statement on Form S-1 (the “Registration Statement”) filed with the Securities and Exchange Commission (the “SEC”). Upon commencement of the Public Offering, the Initial Registration Statement was deemed terminated. Through the Public Offering, the Company is offering, in any combination, four classes of shares: Class A shares, Class T shares, Class D shares and Class I shares (collectively, “Non-founder shares”). There are differing selling fees and commissions for each share class. The Company also pays distribution and shareholder servicing fees, subject to certain limits, on the Class T and Class D shares sold in the Public Offerings (excluding sales pursuant to its distribution reinvestment plan). See Note 7. “Capital Transactions” and Note 13. “Subsequent Events” for additional information related to the Company’s Offerings.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Basis of Presentation The Company’s financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) as contained in the Financial Accounting Standards Board Accounting Standards Codification (the “Codification” or “ASC”), which requires the use of estimates, assumptions and the exercise of subjective judgment as to future uncertainties. In the opinion of management, the consolidated financial statements reflect all adjustments that are of a normal recurring nature and necessary for the fair presentation of financial results as of and for the periods presented. Although the Company is organized and intends to conduct its business in a manner so that it is not required to register as an investment company under the Investment Company Act, its financial statements are prepared using the specialized accounting principles of ASC Topic 946, “Financial Services—Investment Companies” (“ASC Topic 946”) to utilize investment company accounting. The Company obtains funds through the issuance of equity interests to multiple unrelated investors, and provides such investors with investment management services. Further, the Company’s business strategy is to acquire interests in middle-market U.S. businesses to provide current income and long term capital appreciation, while protecting invested capital. Overall, the Company believes that the use of investment company accounting on a fair value basis is consistent with the management of its assets on a fair value basis, and makes the Company’s financial statements more useful to investors and other financial statement users in facilitating the evaluation of an investment in the Company as compared to other investment products in the marketplace. Principles of Consolidation Under ASC Topic 946 the Company is precluded from consolidating any entity other than an investment company or an operating company which provides substantially all of its services to benefit the Company. In accordance therewith, the Company has consolidated the results of its wholly owned subsidiaries which provide services to the Company in its consolidated financial statements. However, the Company has not consolidated the results of its subsidiaries in which the Company holds debt and equity investments. All intercompany account balances and transactions have been eliminated in consolidation. Risks and Uncertainties The novel coronavirus (“COVID-19”) pandemic has continued to impact the U.S. and global economies. The U.S. financial markets have experienced disruption and constrained credit conditions within certain sectors. Although more normalized activities have resumed, at this time the Company cannot predict the full extent of the impacts of the COVID-19 pandemic on the Company and its portfolio companies and the COVID-19 pandemic could have a delayed adverse impact on the Company's financial results. The Company will continue to monitor the pandemic's effects on a daily basis and will adjust its operations as necessary. The full impact of COVID-19 on the financial and credit markets and consequently on the Company’s financial condition and results of operations is uncertain and cannot be predicted at the current time as it depends on several factors beyond the control of the Company including, but not limited to (i) the uncertainty around the severity and duration of the pandemic and the emergence and severity of COVID-19 variants, (ii) the effectiveness of the United States public health response, including the efficacy of the vaccines or other remedies and the speed of their distribution and administration, (iii) the pandemic’s impact on the U.S. and global economies, (iv) the timing, scope and effectiveness of additional governmental responses to the pandemic, (v) the timing and speed of economic recovery, and (vi) the negative impact on its portfolio companies. Cash Cash consists of demand deposits at commercial banks. Demand deposits are carried at cost plus accrued interest, which approximates fair value. The Company deposits its cash with highly-rated banking corporations and, at times, cash deposits may exceed the insured limits under applicable law. Use of Estimates Management makes estimates and assumptions related to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities to prepare the financial statements in conformity with generally accepted accounting principles. The uncertainty of future events, including the impact of the COVID-19 pandemic, may materially impact the accuracy of the estimates and assumptions used in the financial statements and related footnotes and actual results could differ from those estimates. Valuation of Investments ASC Topic 820, “Fair Value Measurements and Disclosures” (“ASC Topic 820”) clarifies that the fair value is the price in an orderly transaction between market participants to sell an asset or transfer a liability in the market in which the reporting entity would transact for the asset or liability, that is, the principal or most advantageous market for the asset or liability. The transaction to sell the asset or transfer the liability is a hypothetical transaction at the measurement date, considered from the perspective of a market participant that holds the asset or owes the liability. ASC Topic 820 provides a consistent definition of fair value which focuses on exit price and prioritizes, within a measurement of fair value, the use of market-based inputs over entity-specific inputs. In addition, ASC Topic 820 provides a framework for measuring fair value and establishes a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. The three levels of valuation hierarchy established by ASC Topic 820 are defined as follows: Level 1 – Quoted prices (unadjusted) for identical assets or liabilities in active markets. An active market is defined as a market in which transactions for the asset or liability occur with sufficient pricing information on an ongoing basis. Publicly listed equity and debt securities and listed derivatives that are traded on major securities exchanges and publicly traded equity options are generally valued using Level 1 inputs. If a price for an asset cannot be determined based upon this established process, it shall then be valued as a Level 2 or Level 3 asset. Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include the following: (i) quoted prices for similar assets in active markets; (ii) quoted prices for identical or similar assets in markets that are not active; (iii) inputs that are derived principally from or corroborated by observable market data by correlation or other means; and (iv) inputs other than quoted prices that are observable for the assets. Fixed income and derivative assets, where there is an observable secondary trading market and through which pricing inputs are available through pricing services or broker quotes, are generally valued using Level 2 inputs. If a price for an asset cannot be determined based upon this established process, it shall then be valued as a Level 3 asset. Level 3 – Unobservable inputs for the asset or liability being valued. Unobservable inputs will be used to measure fair value to the extent that observable inputs are not available and such inputs will be based on the best information available in the circumstances, which under certain circumstances might include the Manager’s or the Sub-Manager’s own data. Level 3 inputs may include, but are not limited to, capitalization and discount rates and earnings before interest, taxes, depreciation and amortization (“EBITDA”) multiples. The information may also include pricing information or broker quotes which include a disclaimer that the broker would not be held to such a price in an actual transaction. Certain assets may be valued based upon estimated value of underlying collateral and include adjustments deemed necessary for estimates of costs to obtain control and liquidate available collateral. The non-binding nature of consensus pricing and/or quotes accompanied by disclaimer would result in classification as Level 3 information, assuming no additional corroborating evidence. Debt and equity investments in private companies or assets valued using the market or income approach are generally valued using Level 3 inputs. In all cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls will be determined based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to each asset. The Company’s board of directors is responsible for determining in good faith the fair value of the Company’s investments in accordance with the valuation policy and procedures approved by the board of directors, based on, among other factors, the input of the Manager, the Sub-Manager, its audit committee, and the independent third-party valuation firm. The determination of the fair value of the Company’s assets requires judgment, especially with respect to assets for which market prices are not available. For most of the Company’s assets, market prices will not be available. Due to the inherent uncertainty of determining the fair value of assets that do not have a readily available market value, the fair value of the assets may differ significantly from the values that would have been used had a readily available market value existed for such assets, and the differences could be material. Because the calculation of the Company’s net asset value is based, in part, on the fair value of its assets, the Company’s calculation of net asset value is subjective and could be adversely affected if the determinations regarding the fair value of its assets were materially higher than the values that the Company ultimately realizes upon the disposal of such assets. Furthermore, through the valuation process, the Company’s board of directors may determine that the fair value of the Company’s assets differs materially from the values that were provided by the independent valuation firm. The Company may also look to private merger and acquisition statistics, public trading multiples adjusted for illiquidity and other factors, valuations implied by third-party investments in the businesses or industry practices in determining fair value. The Company may also consider the size and scope of a business and its specific strengths and weaknesses, as well as any other factors it deems relevant in assessing the value. Net Realized Gains or Losses and Net Change in Unrealized Appreciation or Depreciation on Investments The Company will measure realized gains or losses as the difference between the net proceeds from the sale, repayment, or disposal of an asset and the adjusted cost basis of the asset, without regard to unrealized appreciation or depreciation previously recognized. Net change in unrealized appreciation or depreciation on investments will reflect the change in asset values during the reporting period, including any reversal of previously recorded unrealized appreciation or depreciation, when gains or losses are realized. Income Recognition Interest Income – Interest income is recorded on an accrual basis to the extent that the Company expects to collect such amounts. The Company does not accrue as a receivable interest on loans and debt securities for accounting purposes if it has reason to doubt its ability to collect such interest. The Company places loans on non-accrual status when principal and interest are past due 90 days or more or when there is a reasonable doubt that the Company will collect principal or interest. Accrued interest is generally reversed when a loan is placed on non-accrual. Interest payments received on non-accrual loans may be recognized as income or applied to principal depending upon management’s judgment. Non-accrual loans are generally restored to accrual status when past due principal and interest amounts are paid and, in management’s judgment, are likely to remain current. Since inception, the Company has not experienced any past due payments on any of its loan investments. Dividend Income – Dividend income is recorded on the record date for privately issued securities, but excludes any portion of distributions that are treated as a return of capital. Each distribution received from an equity investment is evaluated to determine if the distribution should be recorded as dividend income or a return of capital. Generally, the Company will not record distributions from equity investments as dividend income unless there are sufficient current or accumulated earnings prior to the distribution. Distributions that are classified as a return of capital are recorded as a reduction in the cost basis of the investment. Paid in Capital The Company records the proceeds from the sale of its common shares on a net basis to (i) capital stock and (ii) paid in capital in excess of par value, excluding upfront selling commissions and placement agent/dealer manager fees. Share Repurchases Under the Company’s share repurchase program (the “Share Repurchase Program”), a shareholder’s shares are deemed to have been redeemed as of the repurchase date, which will generally be the last business day of the month of a calendar quarter. Shares redeemed are retired and not available for reissue. See Note 7. “Capital Transactions” for additional information. Organization and Offering Expenses Organization expenses are expensed on the Company’s consolidated statements of operations as incurred. Offering expenses, which consist of amounts incurred for items such as legal, accounting, regulatory and printing work incurred related to the Offerings, are capitalized on the Company’s consolidated statements of assets and liabilities as deferred offering expenses and expensed to the Company’s consolidated statements of operations over the lesser of the offering period or 12 months; however, the end of the deferral period will not exceed 12 months from the date the offering expense is incurred by the Manager and the Sub-Manager. Distribution and Shareholder Servicing Fees The Company pays distribution and shareholder servicing fees with respect to its Class T and Class D shares, as described further below in Note 5. “Related Party Transactions.” The Company records the distribution and shareholder servicing fees, which accrue daily, in the Company’s consolidated statements of operations as they are incurred. Deferred Financing Costs Financing costs, including upfront fees, commitment fees and legal fees related to borrowings (as further described in Note 8. “Borrowings” ) are deferred and amortized over the life of the related financing instrument using the effective yield method. The amortization of deferred financing costs is included in general and administrative expense in the Company’s consolidated statements of operations. Allocation of Profit and Loss Class-specific expenses, including base management fees, total return incentive fees, organization and offering expenses, distribution and shareholder servicing fees, Expense Support and certain transfer agent fees, are allocated to each share class of common shares in accordance with how such fees are attributable to the particular share classes, as determined by the Company’s board of directors, the Company’s governing agreements and, in certain cases, expenses which are specifically identifiable to a specific share class. Income and expenses which are not class-specific are allocated monthly pro rata among the share classes based on shares outstanding as of the end of the month. Earnings per Share and Net Investment Income per Share Earnings per share and net investment income per share are calculated for each share class of common shares based upon the weighted average number of common shares outstanding during the reporting period. Distributions The Company’s board of directors has declared and intends to continue to declare distributions based on monthly record dates and such distributions are expected to be paid on a monthly basis one month in arrears. Distributions are made on all classes of the Company’s shares at the same time. The Company has adopted a distribution reinvestment plan that provides for reinvestment of distributions on behalf of shareholders. Non-founder shareholders participating in the distribution reinvestment plan will have their cash distribution automatically reinvested in additional shares having the same class designation as the class of shares to which such distributions are attributable at a price per share equivalent to the then current public offering price, net of up-front selling commissions and dealer manager fees. Cash distributions paid on Class FA shares participating in the distribution reinvestment plan are reinvested in additional Class A shares. Class S shares do not participate in the distribution reinvestment plan. Income Taxes Under GAAP, the Company is subject to the provisions of ASC 740, “Income Taxes.” The Company follows the authoritative guidance on accounting for uncertainty in income taxes and concluded it has no material uncertain tax positions to be recognized at this time. If applicable, the Company will recognize interest and penalties related to unrecognized tax benefits as income tax expense in the Company’s consolidated statements of operations. The Company has operated and expects to continue to operate so that it will qualify to be treated for U.S. federal income tax purposes as a partnership, and not as an association or a publicly traded partnership taxable as a corporation. Generally, the Company will not be taxable as a corporation if 90% or more of its gross income for each taxable year consists of “qualifying income” (generally, interest (other than interest generated from a financial business), dividends, real property rents, gain from the sale of assets that produce qualifying income and certain other items) and the Company is not required to register under the Investment Company Act (the “qualifying income exception”). As a partnership, the individual shareholders are responsible for their proportionate share of the Company’s taxable income. The Company holds certain equity investments in taxable subsidiaries (the “Taxable Subsidiaries”). The Taxable Subsidiaries permit the Company to hold equity investments in portfolio companies which are “pass through” entities for tax purposes. The Taxable Subsidiaries are not consolidated with the Company for income tax purposes and may generate income tax expense, benefit, and the related tax assets and liabilities, as a result of the Taxable Subsidiaries’ ownership of certain portfolio investments. The income tax expense, or benefit, if any, and related tax assets and liabilities are reflected in the Company’s condensed consolidated financial statements. See Note 9. “ Income Taxes ” for additional information.

Investments

Investments	12 Months Ended
	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Investments	Investments During the year ended December 31, 2021, the Company invested in three portfolio companies, ATA National Title Group, LLC (“ATA”), Douglas Machines, Inc. (“Douglas”) and Clarion Safety Systems, LLC (“Clarion”), for approximately $192.8 million in aggregate. During the year ended December 31, 2020, the Company invested in three portfolio companies, Resolution Economics, LLC (“Resolution Economics”), Blue Ridge ESOP Associates (“Blue Ridge”) and Healthcare Safety Holdings LLC (“HSH”), for approximately $64.2 million in aggregate. The Company’s investment portfolio is summarized as follows: As of December 31, 2021 Asset Category Cost Fair Value Fair Value Fair Value Senior secured debt First lien $ 116,600,000 $ 116,600,000 25.6 % 23.3 % Second lien 35,942,454 35,942,454 7.9 7.2 Total senior secured debt 152,542,454 152,542,454 33.5 30.5 Equity 235,211,231 303,454,287 66.5 60.7 Total investments $ 387,753,685 $ 455,996,741 100.0 % 91.2 % As of December 31, 2020 Asset Category Cost Fair Value Fair Value Fair Value Senior secured debt First lien $ 42,100,000 $ 42,100,000 18.2 % 13.6 % Second lien 35,942,454 35,942,454 15.6 11.6 Total senior secured debt 78,042,454 78,042,454 33.8 25.2 Equity 119,414,659 153,155,000 66.2 49.6 Total investments $ 197,457,113 $ 231,197,454 100.0 % 74.8 % Collectively, the Company’s debt investments accrue interest at a weighted average per annum rate of 15.3% and have weighted average remaining years to maturity of 5.1 years as of December 31, 2021. The note purchase agreements contain customary covenants and events of default. As of December 31, 2021, all of the Company’s portfolio companies were in compliance with their respective debt covenants. As of December 31, 2021 and 2020, none of the Company’s debt investments were on non-accrual status. The industry dispersion of the Company’s investment portfolio as a percentage of total fair value of the Company’s investments as of December 31, 2021 and 2020 were as follows: As of December 31, Industry 2021 2020 Real Estate Services 17.2 % — % Commercial and Professional Services 15.8 27.5 Visual Safety Solutions 15.2 — Information Services and Advisory Solutions 12.1 22.3 Sanitation Products 11.1 — Healthcare Supplies 10.6 18.4 Hobby Goods and Supplies 8.7 15.2 Engineered Products 2.8 10.8 Business Services 6.5 5.8 Total 100.0 % 100.0 % All investment positions held at December 31, 2021 and 2020 were denominated in U.S. dollars and located in the United States based on their country of domicile. Summarized Portfolio Company Financial Statement Information The following tables present audited summarized operating data and summarized cash flow data for the years ended December 31, 2021 and 2020, and summarized balance sheet data as of December 31, 2021 and December 31, 2020 for the Company’s portfolio companies (in thousands): Summarized Operating Data As of December 31, 2021 Lawn Doctor Polyform Round-tables HSH ATA (1) Douglas (2) Clarion (3) Other (4) Revenues $ 35,018 $ 22,297 $ 13,128 $ 32,918 $ 59,021 $ 6,099 $ 676 $ 118,256 Expenses (31,749) (20,097) (13,276) (30,769) (52,494) (19,146) (1,857) (127,990) Income (loss) before taxes 3,269 2,200 (148) 2,149 6,527 (13,047) (1,181) (9,734) Income tax (expense) benefit (832) (574) (469) (456) — 2,608 341 875 Consolidated net income (loss) 2,437 1,626 (617) 1,693 6,527 (10,439) (840) (8,859) Net loss attributable to non-controlling interests 107 — — — — — — — Net income (loss) $ 2,544 $ 1,626 $ (617) $ 1,693 $ 6,527 $ (10,439) $ (840) $ (8,859) Year Ended December 31, 2020 Lawn Doctor Polyform Roundtables HSH (5) Other (4) Revenues $ 28,677 $ 18,981 $ 10,942 $ 13,940 $ 87,740 Expenses (27,232) (17,372) (11,692) (15,633) (98,687) Income (loss) before taxes 1,445 1,609 (750) (1,693) (10,947) Income tax benefit (371) (469) 1,443 109 3,117 Consolidated net income (loss) 1,074 1,140 693 (1,584) (7,830) Net loss attributable to non-controlling interests 213 — — — — Net income (loss) $ 1,287 $ 1,140 $ 693 $ (1,584) $ (7,830) Summarized Balance Sheet Data As of December 31, 2021 Lawn Doctor Polyform Round-tables HSH ATA Douglas Clarion Other (4) Current assets $ 13,926 $ 9,940 $ 2,043 $ 14,260 $ 10,029 $ 13,177 $ 3,084 $ 64,792 Non-current assets 92,309 28,948 61,955 39,653 90,510 40,311 66,182 322,397 Current liabilities 7,961 2,290 4,738 7,341 9,002 4,159 420 41,781 Non-current liabilities 63,576 21,557 19,771 28,536 43,458 15,711 22,500 168,726 Non-controlling interest (500) — — — — — — — Stockholders’ equity 35,198 15,041 39,489 18,036 48,079 33,618 46,346 176,682 Ownership Percentage (6) 61% 87% 81% 75% 75% 90% 99% (7) As of December 31, 2020 Lawn Doctor Polyform Roundtables HSH Other (4) Current assets $ 8,386 $ 9,692 $ 4,167 $ 12,684 $ 51,902 Non-current assets 94,601 30,033 59,582 42,701 311,985 Current liabilities 7,670 2,461 4,407 5,733 35,927 Non-current liabilities 53,386 21,563 19,553 29,297 146,901 Non-controlling interest (393) — — — — Stockholders’ equity 42,324 15,701 39,789 20,355 181,059 Ownership Percentage (6) 61% 87% 81% 75% (7) FOOTNOTES: (1) Summarized operating data presented for ATA is for the period from April 1, 2021 (the date the Company acquired its investments in ATA) to December 31, 2021. (2) Summarized operating data presented for Douglas are for the period from October 7, 2021 (the date the Company acquired its investments in Douglas) to December 31, 2021. (3) Summarized operating data presented for Clarion are for the period from December 9, 2021 (the date the Company acquired its investments in Clarion) to December 31, 2021. (4) Includes aggregate summarized operating data for the Company’s co-investments in which the Company owns a minority equity interest (Milton, Resolution Economics and Blue Ridge) for the periods presented unless otherwise noted. December 31, 2021 and 2020 summarized operating data for Resolution Economics is for the period from December 1, 2020 to November 30, 2021 and from January 2, 2020 (the date the Company acquired its investments in Resolution Economics) to November 30, 2020 (reported on a one-month lag basis), respectively. December 31, 2020 summarized operating data for Blue Ridge is for the period from March 24, 2020 (the date the Company acquired its investments in Blue Ridge) to December 31, 2020. (5) Summarized operating data presented for HSH is for the period from July 16, 2020 (the date the Company acquired its investments in HSH) to December 31, 2020. (6) Represents the Company’s undiluted ownership percentage as of the end of the period presented.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company’s investments were categorized in the fair value hierarchy described in Note 2. “Significant Accounting Policies,” as follows as of December 31, 2021 and 2020: As of December 31, 2021 As of December 31, 2020 Description Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Senior Debt $ — $ — $ 152,542,454 $ 152,542,454 $ — $ — $ 78,042,454 $ 78,042,454 Equity — — 303,454,287 303,454,287 — — 153,155,000 153,155,000 Total investments $ — $ — $ 455,996,741 $ 455,996,741 $ — $ — $ 231,197,454 $ 231,197,454 The ranges of unobservable inputs used in the fair value measurement of the Company’s Level 3 investments as of December 31, 2021 and 2020 were as follows: As of December 31, 2021 Asset Group Fair Value Valuation Techniques Unobservable Inputs Range (Weighted Average) (1) Impact to Valuation from an Increase in Input (2) Senior Debt $ 130,042,454 Discounted Cash Flow Discount Rate 8.5% – 13.0% (11.4%) 4.1x – 15.2x (8.9x) 6.0x – 12.5x (9.6x) Decrease 22,500,000 Transaction Precedent Transaction Price N/A N/A Equity 256,695,000 Discounted Cash Flow Discount Rate 8.5% – 13.0% (11.4%) 4.1x – 15.2x (8.9x) 6.0x – 12.5x (9.6x) Decrease 46,759,287 Transaction Precedent Transaction Price N/A N/A Total $ 455,996,741 As of December 31, 2020 Asset Group Fair Value Valuation Techniques Unobservable Inputs Range (Weighted Average) (1) Impact to Valuation from an Increase in Input (2) Senior Debt $ 78,042,454 Discounted Cash Flow Discount Rate 8.0% – 13.0% (10.7%) 6.4x – 15.2x (11.6x) 6.8x – 14.5x (11.3x) Decrease Equity 153,155,000 Discounted Cash Flow Discount Rate 8.0% – 13.0% (10.7%) 6.4x – 15.2x (11.6x) 6.8x – 14.5x (11.3x) Decrease Total $ 231,197,454 FOOTNOTES: (1) Discount rates are relative to the enterprise value of the portfolio companies and are not the market yields on the associated debt investments. Unobservable inputs were weighted by the relative fair value of the investments. (2) This column represents the directional change in the fair value of the Level 3 investments that would result from an increase to the corresponding unobservable input. A decrease to the input would have the opposite effect. Significant changes in these inputs in isolation could result in significantly higher or lower fair value measurements. The preceding tables include the significant unobservable inputs as they relate to the Company’s determination of fair values for its investments categorized within Level 3 as of December 31, 2021 and 2020. In addition to the techniques and inputs noted in the tables above, according to the Company’s valuation policy, the Company may also use other valuation techniques and methodologies when determining the fair value estimates for the Company’s investments. Any significant increases or decreases in the unobservable inputs would result in significant increases or decreases in the fair value of the Company’s investments. Investments that do not have a readily available market value are valued utilizing a market approach, an income approach (i.e. discounted cash flow approach), a transaction approach, or a combination of such approaches, as appropriate. The market approach uses prices, including third party indicative broker quotes, and other relevant information generated by market transactions involving identical or comparable assets or liabilities (including a business). The transaction approach uses pricing indications derived from recent precedent merger and acquisition transactions involving comparable target companies. The income approach uses valuation techniques to convert future amounts (for example, cash flows or earnings) that are discounted based on a required or expected discount rate to derive a present value amount range. The measurement is based on the value indicated by current market expectations about those future amounts. In following these approaches, the types of factors the Company may take into account to determine the fair value of its investments include, as relevant: available current market data, including an assessment of the credit quality of the security’s issuer, relevant and applicable market trading and transaction comparables, applicable market yields and multiples, illiquidity discounts, security covenants, call protection provisions, information rights, the nature and realizable value of any collateral, the portfolio company’s ability to make payments, its earnings and cash flows, the markets in which the portfolio company does business, comparisons of financial ratios of peer companies that are public, data derived from merger and acquisition activities for comparable companies, and enterprise values, among other factors. The following tables provide a reconciliation of investments for which Level 3 inputs were used in determining fair value for the years ended December 31, 2021 and 2020: Year Ended December 31, 2021 Senior Debt Equity Total Fair value balance as of January 1, 2021 $ 78,042,454 $ 153,155,000 $ 231,197,454 Additions 74,500,000 118,259,287 192,759,287 Return of capital (1) — (2,462,715) (2,462,715) Net change in unrealized appreciation (2) — 34,502,715 34,502,715 Fair value balance as of December 31, 2021 $ 152,542,454 $ 303,454,287 $ 455,996,741 Change in net unrealized appreciation on investments held as of December 31, 2021 (2) $ — $ 34,502,715 $ 34,502,715 Year Ended December 31, 2020 Senior Debt Equity Total Fair value balance as of January 1, 2020 $ 48,167,603 $ 96,027,397 $ 144,195,000 Additions 29,874,851 34,307,923 64,182,774 Net change in unrealized appreciation (2) — 22,819,680 22,819,680 Fair value balance as of December 31, 2020 $ 78,042,454 $ 153,155,000 $ 231,197,454 Change in net unrealized appreciation on investments held as of December 31, 2020 (2) $ — $ 22,819,680 $ 22,819,680 FOOTNOTES: (1) Represents portion of distributions received which were accounted for as a return of capital. See Note 2. “Significant Accounting Policies” for information on the accounting treatment of distributions from portfolio companies. (2) Included in net change in unrealized appreciation on investments in the consolidated statements of operations.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Manager and Sub-Manager, along with certain affiliates of the Manager or Sub-Manager, receive fees and compensation in connection with the Company’s Offerings, as well as the acquisition, management and sale of the assets of the Company, as follows: Placement Agent/Dealer Manager Commissions — The Company pays CNL Securities Corp. (the “Managing Dealer” in connection with the Public Offerings and the “Placement Agent” in connection with the Private Offerings), an affiliate of the Manager, a selling commission up to 6.00% of the sale price for each Class A share and 3.00% of the sale price for each Class T share sold in the Public Offerings (excluding sales pursuant to the Company’s distribution reinvestment plan). The Company paid the Placement Agent a selling commission of up to 5.50% and up to 2.00% of the sale price for each Class FA and Class S share sold in the Follow-On Class FA Private Offering and Class S Private Offering (defined in Note 7. “ Capital Transactions ” below), respectively. There was no selling commission for the sale of Class FA shares in the Class FA Private Offering. The Managing Dealer may reallow all or a portion of the selling commissions to participating broker-dealers. Placement Agent/Dealer Manager Fee — The Company pays the Managing Dealer a dealer manager fee of up to 2.50% of the price of each Class A share and 1.75% of the price of each Class T share sold in the Public Offerings (excluding sales pursuant to the Company’s distribution reinvestment plan). Under the Follow-On Class FA Private Offering, the Company paid the Placement Agent a placement agent fee of 3.00% and 1.50% of the price of each Class FA and Class S share sold in the Follow-On Class FA Private Offering and Class S Private Offering, respectively. There was no placement agent fee for the sale of Class FA shares sold in the Class FA Private Offering. The Managing Dealer may reallow all or a portion of such placement agent / dealer manager fees to participating broker-dealers. Distribution and Shareholder Servicing Fee — The Company pays the Managing Dealer a distribution and shareholder servicing fee, subject to certain limits, with respect to its Class T and Class D shares sold in the Public Offerings (excluding Class T shares and Class D shares sold through the distribution reinvestment plan and those received as share distributions) in an annual amount equal to 1.00% and 0.50%, respectively, of its current net asset value per share, as disclosed in its periodic or current reports, payable on a monthly basis. The distribution and shareholder servicing fee accrues daily and is paid monthly in arrears. The Managing Dealer may reallow all or a portion of the distribution and shareholder servicing fee to the broker-dealer who sold the Class T or Class D shares or, if applicable, to a servicing broker-dealer of the Class T or Class D shares or a fund supermarket platform featuring Class D shares, so long as the broker-dealer or financial intermediary has entered into a contractual agreement with the Managing Dealer that provides for such reallowance. The distribution and shareholder servicing fee is an ongoing fee that is allocated among all Class T and Class D shares, respectively, and is not paid at the time of purchase. Manager and/or Sub-Manager Organization and Offering Costs — The Company reimburses the Manager and the Sub-Manager, along with their respective affiliates, for the organization and offering costs (other than selling commissions and placement agent / dealer manager fees) they have incurred on the Company’s behalf only to the extent that such expenses do not exceed (A) 1.0% of the cumulative gross proceeds from the Private Offerings (defined in Note 7. “Capital Transactions” below), and (B) 1.5% of the cumulative gross proceeds from the Public Offerings. The Company incurred an obligation to reimburse the Manager and Sub-Manager for approximately $2.5 million and $1.1 million in organization and offering costs based on actual amounts raised through the Offerings during the years ended December 31, 2021 and 2020, respectively. The Manager and the Sub-Manager have incurred additional organization and offering costs of approximately $4.2 million on behalf of the Company in connection with the Public Offerings (exceeding the respective limitations) as of December 31, 2021. These costs will be recognized by the Company in future periods as the Company receives future offering proceeds from its Public Offering to the extent such costs are within the 1.5% limitation. Base Management Fee to Manager and Sub-Manager — The Company pays each of the Manager and the Sub-Manager 50% of the total base management fee for their services under the Management Agreement and the Sub-Management Agreement, subject to any reduction or deferral of any such fees pursuant to the terms of the Expense Support and Conditional Reimbursement Agreement described below. The Company incurred base management fees of approximately $4.8 million and $2.6 million during the years ended December 31, 2021 and 2020, respectively. The base management fee is calculated for each share class at an annual rate of (i) for the Non-founder shares of a particular class, 2% of the product of (x) the Company’s average gross assets and (y) the ratio of Non-founder share Average Adjusted Capital (as defined below), for a particular class to total Average Adjusted Capital and (ii) for the Founder shares of a particular class, 1% of the product of (x) the Company’s average gross assets and (y) the ratio of outstanding Founder share Average Adjusted Capital for a particular class to total Average Adjusted Capital, in each case excluding cash, and is payable monthly in arrears. The management fee for a certain month is calculated based on the average value of the Company’s gross assets at the end of that month and the immediately preceding calendar month. The determination of gross assets reflects changes in the fair market value of the Company’s assets, which does not necessarily equal their notional value, reflecting both realized and unrealized capital appreciation or depreciation. The base management fee may be reduced or deferred by the Manager and the Sub-Manager under the Management Agreement and the Expense Support and Conditional Reimbursement Agreement described below. For purposes of this calculation, “Average Adjusted Capital” for an applicable class is computed on the daily Adjusted Capital for such class for the actual number of days in such applicable month. “Adjusted Capital” is defined as cumulative proceeds generated from sales of the Company’s shares of a particular share class (including proceeds from the sale of shares pursuant to the distribution reinvestment plan, if any), net of upfront selling commissions and dealer manager fees (“sales load”), if any, reduced for the full amounts paid for share repurchases pursuant to any share repurchase program, if any, for such class. Total Return Incentive Fee on Income to the Manager and Sub-Manager — The Company also pays each of the Manager and the Sub-Manager 50% of the total return incentive fee for their services under the Management Agreement and the Sub-Management Agreement. The Company recorded total return incentive fees of approximately $7.3 million and $4.2 million during the years ended December 31, 2021 and 2020, respectively. The total return incentive fee is based on the Total Return to Shareholders (as defined below) for each share class in any calendar year, payable annually in arrears. The Company accrues (but does not pay) the total return incentive fee on a quarterly basis, to the extent that it is earned, and performs a final reconciliation and makes required payments at completion of each calendar year. The total return incentive fee may be reduced or deferred by the Manager and the Sub-Manager under the Management Agreement and the Expense Support and Conditional Reimbursement Agreement described below. For purposes of this calculation, “Total Return to Shareholders” for any calendar quarter is calculated for each share class as the change in the net asset value for such share class plus total distributions for such share class calculated based on the Average Adjusted Capital for such class as of such calendar quarter end. The terms “Total Return to Non-founder Shareholders” and “Total Return to Founder Shareholders” means the Total Return to Shareholders specifically attributable to each particular share class of Non-founder shares or Founder shares, as applicable. The total return incentive fee for each share class is calculated as follows: • No total return incentive fee will be payable in any calendar year in which the annual Total Return to Shareholders of a particular share class does not exceed 7% (the “Annual Preferred Return”). • As it relates to the Non-founder shares, all of the Total Return to Shareholders with respect to each particular share class of Non-founder shares, if any, that exceeds the annual preferred return, but is less than or equal to 8.75%, or the “Non-founder breakpoint,” in any calendar year, will be payable to the Manager (“Non-founder Catch Up”). The Non-Founder Catch Up is intended to provide an incentive fee of 20% of the Total Return to Non-founder Shareholders of a particular share class once the Total Return to Non-founder Shareholders of a particular class exceeds 8.75% in any calendar year. • As it relates to Founder shares, all of the Total Return to Founder Shareholders with respect to each particular share class of Founder shares, if any, that exceeds the annual preferred return, but is less than or equal to 7.777%, or the “founder breakpoint,” in any calendar year, will be payable to the Manager (“Founder Catch Up”). The Founder Catch Up is intended to provide an incentive fee of 10% of the Total Return to Founder Shareholders of a particular share class once the Total Return to Founder Shareholders of a particular class exceeds 7.777% in any calendar year. • For any quarter in which the Total Return to Shareholders of a particular share class exceeds the relevant breakpoint, the total return incentive fee of a particular share class shall equal, for Non-founder shares, 20% of the Total Return to Non-founder Shareholders of a particular class, and for Founder shares, 10% of the Total Return to Founder Shareholders of a particular class, in each case because the annual preferred and relevant catch ups will have been achieved. • For purposes of calculating the Total Return to Shareholders, the change in the Company’s net asset value is subject to a High Water Mark. The “High Water Mark” is equal to the highest year-end net asset value, for each share class of the Company since inception, adjusted for any special distributions resulting from the sale of the Company’s assets, provided such adjustment is approved by the Company’s board of directors. If, as of each calendar year end, the Company’s net asset value for the applicable share class is (A) above the High Water Mark, then, for such calendar year, the Total Return to Shareholders calculation will include the increase in the Company’s net asset value for such share class in excess of the High Water Mark, and (B) if the Company’s net asset value for the applicable share class is below the High Water Mark, for such calendar year, (i) any increase in the Company’s per share net asset value will be disregarded in the calculation of Total Return to Shareholders for such share class while (ii) any decrease in the Company’s per share net asset value will be included the calculation of Total Return to Shareholders for such share class. For the years ended December 31, 2021 and 2020, the High Water Marks were as follows: For the year ended: Class FA Class A Class T Class D Class I Class S December 31, 2020 $ 27.64 $ 26.91 $ 27.01 $ 26.61 $ 27.15 $ 27.64 December 31, 2021 29.97 28.76 28.67 28.24 29.06 30.08 For purposes of this calculation, “Average Adjusted Capital” for an applicable class is computed on the daily Adjusted Capital for such class for the actual number of days in such applicable quarter. The annual preferred return of 7% and the relevant breakpoints of 8.75% and 7.777%, respectively, are also adjusted for the actual number of days in each calendar year, measured as of each calendar quarter end. Reimbursement to Manager and Sub-Manager for Operating Expenses and Pursuit Costs — The Company reimburses the Manager and the Sub-Manager and their respective affiliates for certain third party operating expenses and pursuit costs incurred in connection with their provision of services to the Company, including fees, costs, expenses, liabilities and obligations relating to the Company’s activities, acquisitions, dispositions, financings and business, subject to the terms of the Company’s limited liability company agreement, the Management Agreement, the Sub-Management Agreement and the Expense Support and Conditional Reimbursement Agreement (as defined below). The Company does not reimburse the Manager and Sub-Manager for administrative services performed by the Manager or Sub-Manager for the benefit of the Company. Expense Support and Conditional Reimbursement Agreement — The Company entered into an expense support and conditional reimbursement agreement with the Manager and the Sub-Manager (the “Expense Support and Conditional Reimbursement Agreement”), which became effective on February 7, 2018, pursuant to which each of the Manager and the Sub-Manager agrees to reduce the payment of base management fees, total return incentive fees and the reimbursements of reimbursable expenses due to the Manager and the Sub-Manager under the Management Agreement and the Sub-Management Agreement, as applicable, to the extent that the Company’s annual regular cash distributions exceed its annual net income (with certain adjustments). The amount of such expense support is equal to the annual (calendar year) excess, if any, of (a) the distributions (as defined in the Expense Support and Conditional Reimbursement Agreement) declared and paid (net of the Company’s distribution reinvestment plan) to shareholders minus (b) the available operating funds, as defined in the Expense Support and Conditional Reimbursement Agreement (the “Expense Support”). The Expense Support amount is borne equally by the Manager and the Sub-Manager and is calculated as of the last business day of the calendar year. Until the Expense Support and Conditional Reimbursement Agreement is terminated, the Manager and Sub-Manager shall equally conditionally reduce the payment of fees and reimbursements of reimbursable expenses in an amount equal to the conditional waiver amount (as defined in and subject to limitations described in the Expense Support and Conditional Reimbursement Agreement). The term of the Expense Support and Conditional Reimbursement Agreement has the same initial term and renewal terms as the Management Agreement or the Sub-Management Agreement, as applicable, to the Manager or the Sub-Manager. Expense Support is paid by the Manager and Sub-Manager annually in arrears. If, on the last business day of the calendar year, the annual (calendar year) year-to-date available operating funds exceeds the sum of the annual (calendar year) year-to-date distributions paid per share class (the “Excess Operating Funds”), the Company uses such Excess Operating Funds to pay the Manager and the Sub-Manager all or a portion of the outstanding unreimbursed Expense Support amounts for each share class, as applicable, subject to certain conditions (the “Conditional Reimbursements”) as described further in the Expense Support and Conditional Reimbursement Agreement. The Company’s obligation to make Conditional Reimbursements shall automatically terminate and be of no further effect three years following the date which the Expense Support amount was provided and to which such Conditional Reimbursement relates, as described further in the Expense Support and Conditional Reimbursement Agreement. The Company recorded Expense Support due from the Manager and Sub-Manager of approximately $3.3 million during the year ended December 31, 2020. As of December 31, 2021, the amount of Expense Support collected from the Manager and Sub-Manager since inception was approximately $5.1 million. As of December 31, 2021, management estimated that approximately $1.8 million would be reimbursable to the Manager and Sub-Manager under the terms of the Expense Support and Conditional Reimbursement Agreement. Therefore, the Company recorded reimbursement of Expense Support of approximately $1.8 million in the consolidated statement of operations for the year ended December 31, 2021. Expense support (reimbursement) is paid by (to) the Manager and Sub-Manager annually in arrears. The following table summarizes annual Expense Support received, estimate of Expense Support to be reimbursed, and the remaining Expense Support that may become reimbursable, subject to the conditions of reimbursement defined in the Expense Support and Conditional Reimbursement Agreement, as of December 31, 2021: For the Year Ended Amount of Expense Support Received Expense Support Reimbursed (1) Unreimbursed Expense Support (2) Expiration December 31, 2018 $ 389,774 $ (352,653) $ 37,121 March 31, 2022 December 31, 2019 1,372,020 (969,591) 402,429 March 31, 2023 December 31, 2020 3,301,473 (508,676) 2,792,797 March 31, 2024 $ 5,063,267 $ (1,830,920) $ 3,232,347 FOOTNOTES: (1) Represents amount accrued as of December 31, 2021 and paid to the Manager and Sub-Manager in March 2022. Expense support reimbursement is calculated by share class and subject to limitations as defined in the Expense Support and Conditional Reimbursement Agreement. (2) Unreimbursed amounts of $37,121 related to the year ended December 31, 2018 will not be reimbursed in future periods. As of December 31, 2021, management believes that additional reimbursement payments by the Company to the Manager and Sub-Manager related to the years ended December 31, 2019 and 2020 are not probable under the terms of the Expense Support and Conditional Reimbursement Agreement. Distributions Individuals and entities affiliated with the Manager and Sub-Manager owned approximately 0.4 million and 0.6 million shares as of December 31, 2021 and 2020, and received distributions from the Company of approximately $0.7 million during each of the years ended December 31, 2021 and 2020. Summary of Related Party Fees and Expenses Related party fees and expenses incurred for the years ended December 31, 2021 and 2020 are summarized below: Years Ended December 31, Related Party Source Agreement & Description 2021 2020 Managing Dealer /Placement Agent Managing Dealer / Placement Agent Agreements: Commissions $ 1,524,232 $ 1,918,852 Dealer Manager / Placement Agent Fees 820,985 1,256,229 Distribution and shareholder servicing fees 396,774 165,012 Manager and Sub-Manager Management Agreement and Sub-Management Agreement: Organization and offering reimbursement (1)(2) 2,490,377 1,142,237 Base management fees (1) 4,845,052 2,596,842 Total return incentive fees (1) 7,282,840 4,150,562 Manager and Sub-Manager Expense Support and Conditional Reimbursement Agreement: Expense support — (3,301,473) Reimbursement of expense support 1,830,920 — Manager Administrative Services Agreement: Reimbursement of third-party operating expenses (1) 104,195 191,070 Sub-Manager Sub-Management Agreement: Reimbursement of third-party pursuit costs (1)(3) 651,362 154,727 FOOTNOTES: (1) Expenses subject to Expense Support. (2) Organization reimbursements are expensed on the Company’s statements of operations as incurred. Offering reimbursements are capitalized on the Company’s statements of assets and liabilities as deferred offering expenses and expensed to the Company’s statements of operations over the lesser of the offering period or 12 months. (3) Includes reimbursement of third-party fees incurred for investments that did not close, including fees and expenses associated with performing the due diligence reviews. The following table presents amounts due from (to) related parties as of December 31, 2021 and 2020: December 31, 2021 2020 Due from related parties: Expense Support $ — $ 3,301,473 Total due from related parties — 3,301,473 Due to related parties: Total return incentive fees (7,282,840) (4,150,562) Reimbursement of expense support (1,830,920) — Base management fees (577,538) (271,983) Organization and offering expenses (175,749) (122,779) Distribution and shareholder servicing fees (53,149) (19,814) Reimbursement of third-party operating expenses and pursuit costs (1,330) (212,793) Total due to related parties (9,921,526) (4,777,931) Net due to related parties $ (9,921,526) $ (1,476,458)

Distributions

Distributions	12 Months Ended
	Dec. 31, 2021
Distributions Made to Members or Limited Partners [Abstract]
Distributions	Distributions The Company’s board of directors declared distributions on a monthly basis (12 record dates) in each of the years ended December 31, 2021 and 2020. Declared distributions are paid monthly in arrears. The following table reflects the total distributions declared during the years ended December 31, 2021 and 2020: Distribution Period Distributions Declared (1)(2) Distributions Reinvested (3) Cash Distributions Net of Distributions Reinvested Year ended December 31, 2021 $ 15,489,084 $ 4,428,799 $ 11,060,285 Year ended December 31, 2020 9,929,353 2,240,547 7,688,806 FOOTNOTES: (1) Distributions declared per share for each share class were as follows: Record Date Period Class FA Class A Class T Class D Class I Class S January 1, 2021 - December 31, 2021 $ 0.104167 $ 0.104167 $ 0.083333 $ 0.093750 $ 0.104167 $ 0.104167 January 1, 2020 - December 31, 2020 0.104167 0.104167 0.083333 0.093750 0.104167 0.104167 (2) The Company’s board of directors began declaring monthly distributions per Class S share for record date March 30, 2020. The Class S shares were first sold on March 31, 2020. (3) Amounts based on distribution record date. The sources of declared distributions on a GAAP basis were as follows: Years Ended December 31, 2021 2020 Amount % of Cash Distributions Declared Amount % of Cash Distributions Declared Net investment income (1) $ 10,092,849 65.2 % $ 7,493,472 75.5 % Distributions in excess of net investment income (2) 5,396,235 34.8 2,435,881 24.5 Total distributions declared $ 15,489,084 100.0 % $ 9,929,353 100.0 % FOOTNOTES: (1) Net investment income includes expense support (reimbursement) of $(1,830,920) and $3,301,473 for the years ended December 31, 2021 and 2020, respectively. See Note 5. “Related Party Transactions” for additional information. (2) Consists of distributions made from offering proceeds for the periods presented.

Capital Transactions

Capital Transactions	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Capital Transactions	Capital Transactions Public Offerings Under the Public Offerings, the Company has offered and continues to offer up to $1.0 billion of shares, on a best efforts basis, which means that CNL Securities Corp., as the Managing Dealer of the Public Offerings, uses its best effort but is not required to sell any specific amount of shares. The Company is offering, in any combination, four classes of shares in the Public Offering: Class A shares, Class T shares, Class D shares and Class I shares. The initial minimum permitted purchase amount is $5,000 in shares. There are differing selling fees and commissions for each share class. The Company also pays distribution and shareholder servicing fees, subject to certain limits, on the Class T and Class D shares sold in the Public Offerings (excluding sales pursuant to the Company’s distribution reinvestment plan). The public offering price, selling commissions and dealer manager fees per share class are determined monthly as approved by the Company’s board of directors. As of December 31, 2021, the public offering price was $33.83 per Class A share, $32.20 per Class T share, $30.34 per Class D share and $31.34 per Class I share. See Note 13. “Subsequent Events” for information on changes to the public offering price, selling commissions and dealer manager fees by share class. The Company is also offering, in any combination, up to $100.0 million of Class A shares, Class T shares, Class D shares and Class I shares to be issued pursuant to its distribution reinvestment plan. See Note 13. “Subsequent Events” for additional information related to the Public Offering. Class FA Private Offerings During the period from commencement of operations on February 7, 2018 to December 31, 2020, the Company offered Class FA and Class S limited liability company interests (collectively, the “Founder shares”) through four private offerings (the “Private Offerings” and, together with the Public Offerings, the “Offerings”) only to persons that were “accredited investors,” as that term is defined under the Securities Act and Regulation D promulgated under the Securities Act, and raised aggregate gross offering proceeds of approximately $177 million. The Company conducted the Private Offerings pursuant to the applicable exemption under Section 4(a)(2) of the Securities Act and Rule 506(c) of Regulation D promulgated under the Securities Act. All of the Private Offerings were terminated on or before December 31, 2020. The Private Offerings that were conducted during 2019 and 2020 are described below in more detail. In April and June 2019, the Company commenced separate private offerings of up to $50 million each of Class FA Shares (the “Class FA Private Offering” and the “Follow-On Class FA Private Offering,” respectively). Under the Follow-On Class FA Private Offering the Company paid the Placement Agent a selling commission of up to 5.5% and placement agent fee of up to 3.0% of the sale price for each Class FA share sold in the Follow-On Class FA Private Offering, except as a reduction or sales load waiver may have applied. There was no selling commission or placement fee on the sale of Class FA shares sold in the Class FA Private Offering. The Class FA Private Offering was terminated in December 2019, after having raised gross proceeds of approximately $35 million (approximately 1.3 million shares) and the Follow-On Class FA Private Offering was terminated in March 2020, after having raised gross proceeds of approximately $8 million (approximately 0.3 million shares). In January 2020, the Company commenced a private offering of up to $50 million of Class S shares (the “Class S Private Offering”). The Company paid the Placement Agent a selling commission of up to 2.0% and a placement agent fee of up to 1.5% of the sale price for each Class S share sold in the Class S Private Offering, except as a reduction or sales load waiver that may have applied. The Class S Private Offering was terminated in December 2020 after having raised gross proceeds of approximately $52 million (approximately 1.8 million shares). The following table summarizes the total shares issued and proceeds received by share class in connection with the Offerings, excluding shares repurchased through the Share Repurchase Program described further below, for the years ended December 31, 2021 and 2020: Year Ended December 31, 2021 Proceeds from Offerings Distributions Reinvested (1) Total Share Class Shares Issued Gross Proceeds Sales Load (2) Net Proceeds to Company Shares Proceeds to Company Shares Net Proceeds to Company Average Net Proceeds per Share Class A 403,267 $ 13,195,644 $ (958,829) $ 12,236,815 43,744 $ 1,322,539 447,011 $ 13,559,354 $ 30.33 Class T 954,157 30,411,622 (1,386,388) 29,025,234 19,417 585,294 973,574 29,610,528 30.41 Class D 547,808 16,473,300 — 16,473,300 13,798 409,939 561,606 16,883,239 30.06 Class I 3,419,158 105,230,820 — 105,230,820 60,472 1,856,610 3,479,630 107,087,430 30.78 5,324,390 $ 165,311,386 $ (2,345,217) $ 162,966,169 137,431 $ 4,174,382 5,461,821 $ 167,140,551 $ 30.60 Year Ended December 31, 2020 Proceeds from Offerings Distributions Reinvested (1) Total Share Class Shares Issued Gross Proceeds Sales Load (2)(3) Net Proceeds to Company Shares Proceeds to Company Shares Net Proceeds to Company Average Net Proceeds per Share Class FA 569,642 $ 15,853,000 $ (167,960) $ 15,685,040 — $ — 569,642 $ 15,685,040 $ 27.53 Class A 334,440 9,808,964 (679,465) 9,129,499 35,376 961,623 369,816 10,091,122 27.29 Class T 473,344 13,486,208 (640,595) 12,845,613 8,440 229,816 481,784 13,075,429 27.14 Class D 143,074 3,873,660 — 3,873,660 9,174 245,006 152,248 4,118,666 27.05 Class I 1,076,234 29,893,733 — 29,893,733 24,532 673,348 1,100,766 30,567,081 27.77 Class S 1,770,386 52,359,647 (1,687,061) 50,672,586 — — 1,770,386 50,672,586 28.62 4,367,120 $ 125,275,212 $ (3,175,081) $ 122,100,131 77,522 $ 2,109,793 4,444,642 $ 124,209,924 $ 27.95 FOOTNOTES: (1) Amounts are based on distribution reinvestment date. Distributions are declared monthly and paid or reinvested one month in arrears. (2) The Company incurred selling commissions and placement agent fees on the sale of Class FA shares sold in the Follow-On Class FA Private Offering and on the sale of Class S shares sold in the Class S Private Offering. The Company also incurs selling commissions and dealer manager fees on the sale of Class A and Class T shares sold through the Public Offerings. See Note 5. “Related Party Transactions” for additional information regarding up-front selling commissions and dealer manager/placement agent fees. (3) The Company did not incur any selling commissions or placement agent fees from the sale of approximately 0.3 million Class FA shares sold under the terms of the Class FA Private Offering during the year ended December 31, 2020. Share Repurchase Program In March 2019, the Company’s board of directors approved and adopted the Share Repurchase Program. The total amount of aggregate repurchases of Class FA, Class A, Class T, Class D, Class I and Class S shares will be limited to up to 2.5% of the aggregate net asset value per calendar quarter (based on the aggregate net asset value as of the last date of the month immediately prior to the repurchase date) and up to 10% of the aggregate net asset value per year (based on the average aggregate net asset value as of the end of each of the Company’s trailing four quarters). Unless the Company’s board of directors determines otherwise, the Company will limit the number of shares to be repurchased during any calendar quarter to the number of shares the Company can repurchase with the proceeds received from the sale of shares under its distribution reinvestment plan in the previous quarter. Notwithstanding the foregoing, at the sole discretion of the Company’s board of directors, the Company may also use other sources, including, but not limited to, offering proceeds and borrowings to repurchase shares. During the year ended December 31, 2021, the Company received requests for the repurchase of approximately $3.3 million of the Company’s common shares, which did not exceed amounts raised in the Company’s distribution reinvestment plan . During the year ended December 31, 2020, the Company received requests for the repurchase of approximately $9.6 million of the Company’s common shares, which exceeded proceeds received from its distribution reinvestment plan for the applicable period by approximately $7.8 million. The Company’s board of directors approved the use of other sources to satisfy repurchase requests received in excess of proceeds received from the distribution reinvestment plan for the year ended December 31, 2020. The following table summarizes the shares repurchased during the years ended December 31, 2021 and 2020: Years Ended December 31, 2021 2020 Share Class Number of Shares Total Consideration Average Price Paid per Share Number of Shares Total Consideration Average Price Paid per Share Class FA 19,637 $ 630,608 $ 32.11 246,653 $ 7,037,470 $ 28.53 Class A 20,876 627,150 30.04 4,580 123,038 26.86 Class T 19,158 574,225 29.97 25,774 721,226 27.98 Class D 6,711 198,484 29.58 1,156 32,212 27.85 Class I 36,349 1,118,904 30.78 63,062 1,732,971 27.48 Class S 4,307 141,497 32.85 — — — Total 107,038 $ 3,290,868 $ 30.74 341,225 $ 9,646,917 $ 28.27 As of December 31, 2021 and 2020, the Company had a payable for shares repurchased of approximately $0.5 million and $2.0 million, respectively.

Borrowings (Notes)

Borrowings (Notes)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Borrowings	Borrowings In September 2021, the Company entered into a second amended and restated loan agreement (the “Loan Agreement”) and related promissory notes with United Community Bank (d/b/a Seaside Bank & Trust and referred to as “Seaside”) for a total line of credit of up to $25.0 million (the “Line of Credit”). The Loan Agreement amended and replaced the previous loan agreements between the Company and Seaside dated June 2019, as amended. The Line of Credit is available for advances through August 16, 2022. During the years ended December 31, 2021 and 2020, the Company paid commitment fees to Seaside in connection with the execution of the Loan Agreement and previous loan agreement of $15,000 and $60,000, respectively. The Company is required to pay an additional fee to Seaside with each advance under the Loan Agreement in an amount equal to 0.05% of the amount of each borrowing with a maximum fee of $20,000 over a 364-day period. Under the Loan Agreement, the Company is required to pay interest on the borrowed amount at a rate per year equal to the greater of (a) the 30-day LIBOR plus 2.75% and (b) 3.00%. Interest payments are due monthly in arrears. The Company may prepay, without penalty, all or any part of the borrowings under the Loan Agreement at any time and such borrowings are required to be repaid within 180 days or 60 days (depending on the facility drawn upon) of the borrowing date. Under the Loan Agreement, the Company is required to comply with certain covenants including the provision of financial statements on a quarterly basis, a restriction from incurring any debt, and restrictions on the transfer and sale of assets held by certain subsidiaries. Additionally, the Company has a covenant related to its fair market value of investments as a multiple of borrowings outstanding. In connection with the Loan Agreement, the Company entered into an amended assignment and pledge of deposit account agreement (“Deposit Agreement”) in favor of the lender under the Line of Credit. Under the Deposit Agreement, the Company is required to contribute proceeds from the Offerings to pay down the outstanding debt to the extent there are any borrowings outstanding under the 2021 Loan Agreement above the minimum cash balance of $2.5 million.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The components of income tax expense and deferred taxes on investments related to the Company’s Taxable Subsidiaries during the years ended December 31, 2021 and 2020 were as follows: Years Ended December 31, 2021 2020 Current: Federal $ 1,315,437 $ — State 314,793 — Total current tax expense 1,630,230 — Deferred: Federal 1,135,464 220,097 State 474,610 46,692 Total deferred tax expense 1,610,074 266,789 Income tax expense $ 3,240,304 $ 266,789 Significant components of the Company’s deferred tax assets as of December 31, 2021 and 2020 were as follows: December 31, 2021 2020 Deferred tax assets: Carryforwards for net operating loss $ 532,822 $ 248,641 Other 18,120 — Valuation Allowance (21,899) — Total deferred tax assets 529,043 248,641 Deferred tax liabilities: Unrealized appreciation on investments (2,405,906) (515,430) Total deferred tax liabilities (2,405,906) (515,430) Deferred tax liabilities, net $ (1,876,863) $ (266,789) The table below presents a reconciliation of tax expense the Company would be subject to if it were taxed as a corporation to the Company’s actual income tax expense incurred by its Taxable Subsidiaries for the years ended December 31, 2021 and 2020: Years Ended December 31, 2021 2020 Tax expense computed at the federal statutory rate $ 9,707,417 21.0 % $ 6,365,762 21.0 % State income tax expense net of federal benefit 789,404 1.7 73,491 0.2 Benefit of partnership structure (7,256,517) (15.7) (6,172,464) (20.3) Income tax expense $ 3,240,304 7.0 % $ 266,789 0.9 % The Company’s taxable subsidiary entities had net operating loss carryforwards for federal purposes of approximately $0.9 million as of December 2021 and 2020, to offset future taxable income. The federal net operating loss carryforwards do not expire.

Concentrations of Risk

Concentrations of Risk	12 Months Ended
	Dec. 31, 2021
Risks and Uncertainties [Abstract]
Concentrations of Risk	Concentrations of RiskThe Company had six portfolio companies which met at least one of the significance tests under Rule 4-08(g) of Regulation S-X (the “Significance Tests”) as of December 31, 2021. The portfolio companies are required to make monthly interest payments on their debt, with the debt principal due upon maturity. Failure of any of these portfolio companies to pay contractual interest payments could have a material adverse effect on the Company’s results of operations and cash flows from operations, which would impact its ability to make distributions to shareholders.

Commitment & Contingences

Commitment & Contingences	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitment & Contingences	Commitments & Contingencies See Note 5. “Related Party Transactions” for information on contingent amounts due to the Manager and Sub-Manager for the reimbursement of organization and offering costs under the Public Offerings. From time to time, the Company and officers or directors of the Company may be party to certain legal proceedings in the ordinary course of business, including proceedings relating to the enforcement of the Company’s rights under contracts with its businesses. As of December 31, 2021, the Company was not involved in any legal proceedings. In addition, in the normal course of business, the Company enters into contracts with its vendors and others that provide for general indemnifications. The Company’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Company. However, based on experience, the Company expects that risk of loss to be remote.

Financial Highlights

Financial Highlights	12 Months Ended
	Dec. 31, 2021
Investment Company [Abstract]
Financial Highlights	Financial Highlights The following are schedules of financial highlights of the Company attributed to each class of shares for the years ended December 31, 2021 and 2020 (in thousands except per share data): Year Ended December 31, 2021 Class FA Class A Class T Class D Class I Class S OPERATING PERFORMANCE PER SHARE Net Asset Value, Beginning of Year $ 29.97 $ 28.76 $ 28.67 $ 28.24 $ 29.06 $ 30.08 Net investment income (loss), before reimbursement of expense support (1) 1.33 0.65 0.39 0.58 0.60 1.23 Reimbursement of expense support (1)(2) (0.21) (0.19) (0.21) (0.14) (0.09) — Net investment income (1) 1.12 0.46 0.18 0.44 0.51 1.23 Net realized and unrealized gains, net of taxes (1)(3) 2.78 2.81 2.81 2.80 2.86 2.78 Net increase resulting from investment operations 3.90 3.27 2.99 3.24 3.37 4.01 Distributions to shareholders (4) (1.25) (1.25) (1.00) (1.13) (1.25) (1.25) Net decrease resulting from distributions to shareholders (1.25) (1.25) (1.00) (1.13) (1.25) (1.25) Net Asset Value, End of Year $ 32.62 $ 30.78 $ 30.66 $ 30.35 $ 31.18 $ 32.84 Net assets, end of period $ 148,716 $ 44,958 $ 49,328 $ 30,607 $ 168,704 $ 57,995 Average net assets (5) $ 145,353 $ 37,354 $ 30,486 $ 20,335 $ 106,275 $ 56,575 Shares outstanding, end of period 4,559 1,461 1,609 1,009 5,410 1,766 Distributions declared $ 5,714 $ 1,531 $ 1,000 $ 760 $ 4,271 $ 2,213 Total investment return based on net asset value before total return incentive fee (6) 14.55 % 13.88 % 11.96 % 13.31 % 13.39 % 15.07 % Total investment return based on net asset value after total return incentive fee (6) 12.92 % 11.53 % 10.55 % 11.61 % 11.76 % 13.54 % RATIOS/SUPPLEMENTAL DATA: Ratios to average net assets: (5)(7) Total operating expenses before total return incentive fee and reimbursement of expense support 1.41 % 2.97 % 4.93 % 4.16 % 3.93 % 1.67 % Total operating expenses before reimbursement of expense support 2.77 % 5.52 % 6.99 % 6.45 % 6.25 % 3.07 % Total operating expenses after reimbursement of expense support 3.44 % 6.13 % 7.70 % 6.91 % 6.55 % 3.07 % Net investment income before total return incentive fee (9) 4.88 % 4.06 % 2.65 % 3.77 % 3.97 % 5.26 % Net investment income 3.52 % 1.52 % 0.59 % 1.48 % 1.65 % 3.86 % Year Ended December 31, 2020 Class FA Class A Class T Class D Shares Class I Class S OPERATING PERFORMANCE PER SHARE Net Asset Value, Beginning of Year (8) $ 27.64 $ 26.91 $ 27.01 $ 26.61 $ 27.15 $ 27.56 Net investment income before expense support (1) 0.79 0.10 (0.33) 0.03 0.02 0.82 Expense support (1)(2) 0.35 0.53 0.47 0.26 0.66 0.10 Net investment income (1) 1.14 0.63 0.14 0.29 0.68 0.92 Net realized and unrealized gains (1)(3) 2.44 2.47 2.52 2.47 2.48 2.64 Net increase resulting from investment operations 3.58 3.10 2.66 2.76 3.16 3.56 Distributions to shareholders (4) (1.25) (1.25) (1.00) (1.13) (1.25) (1.04) Net decrease resulting from distributions to shareholders (1.25) (1.25) (1.00) (1.13) (1.25) (1.04) Net Asset Value, End of Year $ 29.97 $ 28.76 $ 28.67 $ 28.24 $ 29.06 $ 30.08 Net assets, end of period $ 137,238 $ 29,748 $ 18,772 $ 12,813 $ 57,148 $ 53,245 Average net assets (5) $ 130,940 $ 22,984 $ 11,991 $ 9,675 $ 35,672 $ 19,257 Shares outstanding, end of period 4,579 1,034 655 454 1,967 1,770 Distributions declared $ 5,812 $ 1,052 $ 436 $ 405 $ 1,610 $ 615 Total investment return based on net asset value before total return incentive fee (6) 13.27 % 12.43 % 10.79 % 11.99 % 12.23 % 13.36 % Total investment return based on net asset value after total return incentive fee (6) 13.16 % 11.89 % 10.11 % 10.67 % 12.01 % 12.80 % RATIOS/SUPPLEMENTAL DATA: Ratios to average net assets: (5)(7) Total operating expenses before total return incentive fee and expense support 1.81 % 3.51 % 5.54 % 3.93 % 4.02 % 2.35 % Total operating expenses before expense support 3.10 % 6.09 % 8.21 % 6.48 % 6.72 % 4.15 % Total operating expenses after expense support 1.85 % 4.14 % 6.49 % 5.52 % 4.34 % 3.79 % Net investment income before total return incentive fee (9) 4.09 % 2.96 % 1.46 % 2.67 % 2.78 % 4.66 % Net investment income 4.05 % 2.32 % 0.51 % 1.08 % 2.46 % 3.17 % FOOTNOTES: (1) The per share amounts presented are based on weighted average shares outstanding. (2) Expense support (reimbursement) is accrued throughout the year and is subject to a final calculation as of the last business day of the calendar year. (3) The amount shown at this caption is the balancing figure derived from the other figures in the schedule. The amount shown at this caption for a share outstanding throughout the period may not agree with the change in the aggregate gains and losses in portfolio investments for the period because of the timing of sales and repurchases of the Company’s shares in relation to fluctuating fair values for the portfolio investments. (4) The per share data for distributions is the actual amount of distributions paid or payable per common share outstanding during the entire period; distributions per share are rounded to the nearest $0.01. (5) The computation of average net assets during the period is based on net assets measured at each month end, adjusted for capital contributions or withdrawals during the month. (6) Total investment return is calculated for each share class as the change in the net asset value for such share class during the period and assuming all distributions are reinvested. Class FA assumes distributions are reinvested in Class A shares and all other share classes assume distributions are reinvested in the same class, including Class S shares which do not participate in the distribution reinvestment plan. Amounts are not annualized and are not representative of total return as calculated for purposes of the total return incentive fee described in Note 5. “Related Party Transactions.” Total returns before total return incentive fees also exclude related expense support. See footnote (9) below for information regarding the percentage of total incentive fees covered by expense support by share class for all periods presented. Since there is no public market for the Company’s shares, terminal market value per share is assumed to be equal to net asset value per share on the last day of the period presented. The Company’s performance changes over time and currently may be different than that shown above. Past performance is no guarantee of future results. Investment performance is presented without regard to sales load that may be incurred by shareholders in the purchase of the Company’s shares. (7) Actual results may not be indicative of future results. Additionally, an individual investor’s ratios may vary from the ratios presented for a share class as a whole. (8) The net asset value as of the beginning of the period is as of January 1, 2020 for all share classes except Class S shares. The net asset value as of the beginning of the period for Class S shares is based on the price of shares sold, net of any sales load, to the initial Class S investors. The initial investors for Class S shares purchased their shares on March 31, 2020. (9) Amounts represent net investment income before total return incentive fee and related expense support as a percentage of average net assets. For the year ended December 31, 2021, total return incentive fees were not covered by expense support as the Company recorded expense support reimbursement during this period.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Investment Activity In February 2022, the Company made an additional equity investment in ATA of $1.1 million. Distributions In January, February and March 2022, the Company’s board of directors declared a monthly cash distribution on the outstanding shares of all classes of common shares of record on February 25, 2022, March 30, 2022 and April 28, 2022, respectively, of $0.104167 per share for Class FA shares, $0.104167 per share for Class A shares, $0.083333 per share for Class T shares, $0.093750 per share for Class D shares, $0.104167 per share for Class I shares and $0.104167 per share for Class S shares. Offerings In January, February and March 2022, the Company’s board of directors approved new per share offering prices for each share class in the Public Offering. The new offering prices are effective as of January 28, 2022, February 25, 2022 and March 24, 2022, respectively. The following table provides the new offering prices and applicable upfront selling commissions and placement agent / dealer manager fees for each share class available in the Public Offering: Class A Class T Class D Class I Effective January 28, 2022: Offering Price, Per Share $ 33.64 $ 32.19 $ 30.35 $ 31.18 Selling Commissions, Per Share 2.02 0.97 — — Placement Agent / Dealer Manager Fees, Per Share 0.84 0.56 — — Effective February 25, 2022: Offering Price, Per Share $ 33.98 $ 32.48 $ 30.65 $ 31.50 Selling Commissions, Per Share 2.04 0.97 — — Dealer Manager Fees, Per Share 0.85 0.57 — — Effective March 24, 2022: Offering Price, Per Share $ 33.97 $ 32.44 $ 30.62 $ 31.49 Selling Commissions, Per Share 2.04 0.97 — — Dealer Manager Fees, Per Share 0.85 0.57 — — Capital Transactions During the period January 1, 2022 through March 28, 2022, the Company received additional net proceeds from the Public Offering and its distribution reinvestment plan of the following: Proceeds from Public Offering Distribution Reinvestment Plan Total Share Class Shares Issued Gross Proceeds Sales Load Net Proceeds to Company Shares Proceeds to Company Shares Net Proceeds to Company Average Net Proceeds per Share Class A 102,283 $ 3,404,361 $ (234,035) $ 3,170,326 10,698 $ 330,988 112,981 $ 3,501,314 $ 30.99 Class T 40,504 1,308,250 (60,432) 1,247,818 8,231 253,154 48,735 1,500,972 30.80 Class D 70,157 2,143,000 — 2,143,000 5,393 164,194 75,550 2,307,194 30.54 Class I 493,689 15,458,388 — 15,458,388 24,666 773,117 518,355 16,231,505 31.31 706,633 $ 22,313,999 $ (294,467) $ 22,019,532 48,988 $ 1,521,453 755,621 $ 23,540,985 $ 31.15

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Company’s financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) as contained in the Financial Accounting Standards Board Accounting Standards Codification (the “Codification” or “ASC”), which requires the use of estimates, assumptions and the exercise of subjective judgment as to future uncertainties. In the opinion of management, the consolidated financial statements reflect all adjustments that are of a normal recurring nature and necessary for the fair presentation of financial results as of and for the periods presented.
Principles of Consolidation	Principles of Consolidation Under ASC Topic 946 the Company is precluded from consolidating any entity other than an investment company or an operating company which provides substantially all of its services to benefit the Company. In accordance therewith, the Company has consolidated the results of its wholly owned subsidiaries which provide services to the Company in its consolidated financial statements. However, the Company has not consolidated the results of its subsidiaries in which the Company holds debt and equity investments. All intercompany account balances and transactions have been eliminated in consolidation.
Risks and Uncertainties	Risks and Uncertainties The novel coronavirus (“COVID-19”) pandemic has continued to impact the U.S. and global economies. The U.S. financial markets have experienced disruption and constrained credit conditions within certain sectors. Although more normalized activities have resumed, at this time the Company cannot predict the full extent of the impacts of the COVID-19 pandemic on the Company and its portfolio companies and the COVID-19 pandemic could have a delayed adverse impact on the Company's financial results. The Company will continue to monitor the pandemic's effects on a daily basis and will adjust its operations as necessary. The full impact of COVID-19 on the financial and credit markets and consequently on the Company’s financial condition and results of operations is uncertain and cannot be predicted at the current time as it depends on several factors beyond the control of the Company including, but not limited to (i) the uncertainty around the severity and duration of the pandemic and the emergence and severity of COVID-19 variants, (ii) the effectiveness of the United States public health response, including the efficacy of the vaccines or other remedies and the speed of their distribution and administration, (iii) the pandemic’s impact on the U.S. and global economies, (iv) the timing, scope and effectiveness of additional governmental responses to the pandemic, (v) the timing and speed of economic recovery, and (vi) the negative impact on its portfolio companies.
Cash	Cash Cash consists of demand deposits at commercial banks. Demand deposits are carried at cost plus accrued interest, which approximates fair value. The Company deposits its cash with highly-rated banking corporations and, at times, cash deposits may exceed the insured limits under applicable law.
Use of Estimates	Use of Estimates Management makes estimates and assumptions related to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities to prepare the financial statements in conformity with generally accepted accounting principles. The uncertainty of future events, including the impact of the COVID-19 pandemic, may materially impact the accuracy of the estimates and assumptions used in the financial statements and related footnotes and actual results could differ from those estimates.
Valuation of Investments	Valuation of Investments ASC Topic 820, “Fair Value Measurements and Disclosures” (“ASC Topic 820”) clarifies that the fair value is the price in an orderly transaction between market participants to sell an asset or transfer a liability in the market in which the reporting entity would transact for the asset or liability, that is, the principal or most advantageous market for the asset or liability. The transaction to sell the asset or transfer the liability is a hypothetical transaction at the measurement date, considered from the perspective of a market participant that holds the asset or owes the liability. ASC Topic 820 provides a consistent definition of fair value which focuses on exit price and prioritizes, within a measurement of fair value, the use of market-based inputs over entity-specific inputs. In addition, ASC Topic 820 provides a framework for measuring fair value and establishes a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. The three levels of valuation hierarchy established by ASC Topic 820 are defined as follows: Level 1 – Quoted prices (unadjusted) for identical assets or liabilities in active markets. An active market is defined as a market in which transactions for the asset or liability occur with sufficient pricing information on an ongoing basis. Publicly listed equity and debt securities and listed derivatives that are traded on major securities exchanges and publicly traded equity options are generally valued using Level 1 inputs. If a price for an asset cannot be determined based upon this established process, it shall then be valued as a Level 2 or Level 3 asset. Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include the following: (i) quoted prices for similar assets in active markets; (ii) quoted prices for identical or similar assets in markets that are not active; (iii) inputs that are derived principally from or corroborated by observable market data by correlation or other means; and (iv) inputs other than quoted prices that are observable for the assets. Fixed income and derivative assets, where there is an observable secondary trading market and through which pricing inputs are available through pricing services or broker quotes, are generally valued using Level 2 inputs. If a price for an asset cannot be determined based upon this established process, it shall then be valued as a Level 3 asset. Level 3 – Unobservable inputs for the asset or liability being valued. Unobservable inputs will be used to measure fair value to the extent that observable inputs are not available and such inputs will be based on the best information available in the circumstances, which under certain circumstances might include the Manager’s or the Sub-Manager’s own data. Level 3 inputs may include, but are not limited to, capitalization and discount rates and earnings before interest, taxes, depreciation and amortization (“EBITDA”) multiples. The information may also include pricing information or broker quotes which include a disclaimer that the broker would not be held to such a price in an actual transaction. Certain assets may be valued based upon estimated value of underlying collateral and include adjustments deemed necessary for estimates of costs to obtain control and liquidate available collateral. The non-binding nature of consensus pricing and/or quotes accompanied by disclaimer would result in classification as Level 3 information, assuming no additional corroborating evidence. Debt and equity investments in private companies or assets valued using the market or income approach are generally valued using Level 3 inputs. In all cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls will be determined based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to each asset. The Company’s board of directors is responsible for determining in good faith the fair value of the Company’s investments in accordance with the valuation policy and procedures approved by the board of directors, based on, among other factors, the input of the Manager, the Sub-Manager, its audit committee, and the independent third-party valuation firm. The determination of the fair value of the Company’s assets requires judgment, especially with respect to assets for which market prices are not available. For most of the Company’s assets, market prices will not be available. Due to the inherent uncertainty of determining the fair value of assets that do not have a readily available market value, the fair value of the assets may differ significantly from the values that would have been used had a readily available market value existed for such assets, and the differences could be material. Because the calculation of the Company’s net asset value is based, in part, on the fair value of its assets, the Company’s calculation of net asset value is subjective and could be adversely affected if the determinations regarding the fair value of its assets were materially higher than the values that the Company ultimately realizes upon the disposal of such assets. Furthermore, through the valuation process, the Company’s board of directors may determine that the fair value of the Company’s assets differs materially from the values that were provided by the independent valuation firm.
Net Realized Gains or Losses and Net Change in Unrealized Appreciation or Depreciation on Investments	Net Realized Gains or Losses and Net Change in Unrealized Appreciation or Depreciation on Investments The Company will measure realized gains or losses as the difference between the net proceeds from the sale, repayment, or disposal of an asset and the adjusted cost basis of the asset, without regard to unrealized appreciation or depreciation previously recognized. Net change in unrealized appreciation or depreciation on investments will reflect the change in asset values during the reporting period, including any reversal of previously recorded unrealized appreciation or depreciation, when gains or losses are realized.
Income Recognition	Income Recognition Interest Income – Interest income is recorded on an accrual basis to the extent that the Company expects to collect such amounts. The Company does not accrue as a receivable interest on loans and debt securities for accounting purposes if it has reason to doubt its ability to collect such interest. The Company places loans on non-accrual status when principal and interest are past due 90 days or more or when there is a reasonable doubt that the Company will collect principal or interest. Accrued interest is generally reversed when a loan is placed on non-accrual. Interest payments received on non-accrual loans may be recognized as income or applied to principal depending upon management’s judgment. Non-accrual loans are generally restored to accrual status when past due principal and interest amounts are paid and, in management’s judgment, are likely to remain current. Since inception, the Company has not experienced any past due payments on any of its loan investments. Dividend Income –
Paid in Capital	Paid in Capital The Company records the proceeds from the sale of its common shares on a net basis to (i) capital stock and (ii) paid in capital in excess of par value, excluding upfront selling commissions and placement agent/dealer manager fees.
Share Repurchases	Share Repurchases Under the Company’s share repurchase program (the “Share Repurchase Program”), a shareholder’s shares are deemed to have been redeemed as of the repurchase date, which will generally be the last business day of the month of a calendar quarter. Shares redeemed are retired and not available for reissue. See Note 7. “Capital Transactions”
Organization and Offering Expenses	Organization and Offering Expenses Organization expenses are expensed on the Company’s consolidated statements of operations as incurred. Offering expenses, which consist of amounts incurred for items such as legal, accounting, regulatory and printing work incurred related to the Offerings, are capitalized on the Company’s consolidated statements of assets and liabilities as deferred offering expenses and expensed to the Company’s consolidated statements of operations over the lesser of the offering period or 12 months; however, the end of the deferral period will not exceed 12 months from the date the offering expense is incurred by the Manager and the Sub-Manager.
Distribution and Shareholder Servicing Fees	Distribution and Shareholder Servicing Fees The Company pays distribution and shareholder servicing fees with respect to its Class T and Class D shares, as described further below in Note 5. “Related Party Transactions.”
Deferred Financing Costs	Deferred Financing Costs Financing costs, including upfront fees, commitment fees and legal fees related to borrowings (as further described in Note 8. “Borrowings” ) are deferred and amortized over the life of the related financing instrument using the effective yield method. The amortization of deferred financing costs is included in general and administrative expense in the Company’s consolidated statements of operations.
Allocation of Profit and Loss	Allocation of Profit and Loss Class-specific expenses, including base management fees, total return incentive fees, organization and offering expenses, distribution and shareholder servicing fees, Expense Support and certain transfer agent fees, are allocated to each share class of common shares in accordance with how such fees are attributable to the particular share classes, as determined by the Company’s board of directors, the Company’s governing agreements and, in certain cases, expenses which are specifically identifiable to a specific share class.
Earnings per Share and Net Investment Income per Share	Earnings per Share and Net Investment Income per Share Earnings per share and net investment income per share are calculated for each share class of common shares based upon the weighted average number of common shares outstanding during the reporting period.
Distributions	Distributions The Company’s board of directors has declared and intends to continue to declare distributions based on monthly record dates and such distributions are expected to be paid on a monthly basis one month in arrears. Distributions are made on all classes of the Company’s shares at the same time.
Income Taxes	Income Taxes Under GAAP, the Company is subject to the provisions of ASC 740, “Income Taxes.” The Company follows the authoritative guidance on accounting for uncertainty in income taxes and concluded it has no material uncertain tax positions to be recognized at this time. If applicable, the Company will recognize interest and penalties related to unrecognized tax benefits as income tax expense in the Company’s consolidated statements of operations. The Company has operated and expects to continue to operate so that it will qualify to be treated for U.S. federal income tax purposes as a partnership, and not as an association or a publicly traded partnership taxable as a corporation. Generally, the Company will not be taxable as a corporation if 90% or more of its gross income for each taxable year consists of “qualifying income” (generally, interest (other than interest generated from a financial business), dividends, real property rents, gain from the sale of assets that produce qualifying income and certain other items) and the Company is not required to register under the Investment Company Act (the “qualifying income exception”). As a partnership, the individual shareholders are responsible for their proportionate share of the Company’s taxable income. The Company holds certain equity investments in taxable subsidiaries (the “Taxable Subsidiaries”). The Taxable Subsidiaries permit the Company to hold equity investments in portfolio companies which are “pass through” entities for tax purposes. The Taxable Subsidiaries are not consolidated with the Company for income tax purposes and may generate income tax expense, benefit, and the related tax assets and liabilities, as a result of the Taxable Subsidiaries’ ownership of certain portfolio investments. The income tax expense, or benefit, if any, and related tax assets and liabilities are reflected in the Company’s condensed consolidated financial statements. See Note 9. “ Income Taxes ”

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Summary of Investment Portfolio	The Company’s investment portfolio is summarized as follows: As of December 31, 2021 Asset Category Cost Fair Value Fair Value Fair Value Senior secured debt First lien $ 116,600,000 $ 116,600,000 25.6 % 23.3 % Second lien 35,942,454 35,942,454 7.9 7.2 Total senior secured debt 152,542,454 152,542,454 33.5 30.5 Equity 235,211,231 303,454,287 66.5 60.7 Total investments $ 387,753,685 $ 455,996,741 100.0 % 91.2 % As of December 31, 2020 Asset Category Cost Fair Value Fair Value Fair Value Senior secured debt First lien $ 42,100,000 $ 42,100,000 18.2 % 13.6 % Second lien 35,942,454 35,942,454 15.6 11.6 Total senior secured debt 78,042,454 78,042,454 33.8 25.2 Equity 119,414,659 153,155,000 66.2 49.6 Total investments $ 197,457,113 $ 231,197,454 100.0 % 74.8 %
Industry Dispersion of Investment Portfolio as Percentage of Total Fair Value of Investments	The industry dispersion of the Company’s investment portfolio as a percentage of total fair value of the Company’s investments as of December 31, 2021 and 2020 were as follows: As of December 31, Industry 2021 2020 Real Estate Services 17.2 % — % Commercial and Professional Services 15.8 27.5 Visual Safety Solutions 15.2 — Information Services and Advisory Solutions 12.1 22.3 Sanitation Products 11.1 — Healthcare Supplies 10.6 18.4 Hobby Goods and Supplies 8.7 15.2 Engineered Products 2.8 10.8 Business Services 6.5 5.8 Total 100.0 % 100.0 %
Summary of Operating and Balance Sheet Data	The following tables present audited summarized operating data and summarized cash flow data for the years ended December 31, 2021 and 2020, and summarized balance sheet data as of December 31, 2021 and December 31, 2020 for the Company’s portfolio companies (in thousands): Summarized Operating Data As of December 31, 2021 Lawn Doctor Polyform Round-tables HSH ATA (1) Douglas (2) Clarion (3) Other (4) Revenues $ 35,018 $ 22,297 $ 13,128 $ 32,918 $ 59,021 $ 6,099 $ 676 $ 118,256 Expenses (31,749) (20,097) (13,276) (30,769) (52,494) (19,146) (1,857) (127,990) Income (loss) before taxes 3,269 2,200 (148) 2,149 6,527 (13,047) (1,181) (9,734) Income tax (expense) benefit (832) (574) (469) (456) — 2,608 341 875 Consolidated net income (loss) 2,437 1,626 (617) 1,693 6,527 (10,439) (840) (8,859) Net loss attributable to non-controlling interests 107 — — — — — — — Net income (loss) $ 2,544 $ 1,626 $ (617) $ 1,693 $ 6,527 $ (10,439) $ (840) $ (8,859) Year Ended December 31, 2020 Lawn Doctor Polyform Roundtables HSH (5) Other (4) Revenues $ 28,677 $ 18,981 $ 10,942 $ 13,940 $ 87,740 Expenses (27,232) (17,372) (11,692) (15,633) (98,687) Income (loss) before taxes 1,445 1,609 (750) (1,693) (10,947) Income tax benefit (371) (469) 1,443 109 3,117 Consolidated net income (loss) 1,074 1,140 693 (1,584) (7,830) Net loss attributable to non-controlling interests 213 — — — — Net income (loss) $ 1,287 $ 1,140 $ 693 $ (1,584) $ (7,830) Summarized Balance Sheet Data As of December 31, 2021 Lawn Doctor Polyform Round-tables HSH ATA Douglas Clarion Other (4) Current assets $ 13,926 $ 9,940 $ 2,043 $ 14,260 $ 10,029 $ 13,177 $ 3,084 $ 64,792 Non-current assets 92,309 28,948 61,955 39,653 90,510 40,311 66,182 322,397 Current liabilities 7,961 2,290 4,738 7,341 9,002 4,159 420 41,781 Non-current liabilities 63,576 21,557 19,771 28,536 43,458 15,711 22,500 168,726 Non-controlling interest (500) — — — — — — — Stockholders’ equity 35,198 15,041 39,489 18,036 48,079 33,618 46,346 176,682 Ownership Percentage (6) 61% 87% 81% 75% 75% 90% 99% (7) As of December 31, 2020 Lawn Doctor Polyform Roundtables HSH Other (4) Current assets $ 8,386 $ 9,692 $ 4,167 $ 12,684 $ 51,902 Non-current assets 94,601 30,033 59,582 42,701 311,985 Current liabilities 7,670 2,461 4,407 5,733 35,927 Non-current liabilities 53,386 21,563 19,553 29,297 146,901 Non-controlling interest (393) — — — — Stockholders’ equity 42,324 15,701 39,789 20,355 181,059 Ownership Percentage (6) 61% 87% 81% 75% (7) FOOTNOTES: (1) Summarized operating data presented for ATA is for the period from April 1, 2021 (the date the Company acquired its investments in ATA) to December 31, 2021. (2) Summarized operating data presented for Douglas are for the period from October 7, 2021 (the date the Company acquired its investments in Douglas) to December 31, 2021. (3) Summarized operating data presented for Clarion are for the period from December 9, 2021 (the date the Company acquired its investments in Clarion) to December 31, 2021. (4) Includes aggregate summarized operating data for the Company’s co-investments in which the Company owns a minority equity interest (Milton, Resolution Economics and Blue Ridge) for the periods presented unless otherwise noted. December 31, 2021 and 2020 summarized operating data for Resolution Economics is for the period from December 1, 2020 to November 30, 2021 and from January 2, 2020 (the date the Company acquired its investments in Resolution Economics) to November 30, 2020 (reported on a one-month lag basis), respectively. December 31, 2020 summarized operating data for Blue Ridge is for the period from March 24, 2020 (the date the Company acquired its investments in Blue Ridge) to December 31, 2020. (5) Summarized operating data presented for HSH is for the period from July 16, 2020 (the date the Company acquired its investments in HSH) to December 31, 2020. (6) Represents the Company’s undiluted ownership percentage as of the end of the period presented.
Summarized Cash Flow Information	FOOTNOTES: (1) Summarized operating data presented for ATA is for the period from April 1, 2021 (the date the Company acquired its investments in ATA) to December 31, 2021. (2) Summarized operating data presented for Douglas are for the period from October 7, 2021 (the date the Company acquired its investments in Douglas) to December 31, 2021. (3) Summarized operating data presented for Clarion are for the period from December 9, 2021 (the date the Company acquired its investments in Clarion) to December 31, 2021. (4) Includes aggregate summarized operating data for the Company’s co-investments in which the Company owns a minority equity interest (Milton, Resolution Economics and Blue Ridge) for the periods presented unless otherwise noted. December 31, 2021 and 2020 summarized operating data for Resolution Economics is for the period from December 1, 2020 to November 30, 2021 and from January 2, 2020 (the date the Company acquired its investments in Resolution Economics) to November 30, 2020 (reported on a one-month lag basis), respectively. December 31, 2020 summarized operating data for Blue Ridge is for the period from March 24, 2020 (the date the Company acquired its investments in Blue Ridge) to December 31, 2020. (5) Summarized operating data presented for HSH is for the period from July 16, 2020 (the date the Company acquired its investments in HSH) to December 31, 2020. (6) Represents the Company’s undiluted ownership percentage as of the end of the period presented.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Investments Categorization in Fair Value Hierarchy	The Company’s investments were categorized in the fair value hierarchy described in Note 2. “Significant Accounting Policies,” as follows as of December 31, 2021 and 2020: As of December 31, 2021 As of December 31, 2020 Description Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Senior Debt $ — $ — $ 152,542,454 $ 152,542,454 $ — $ — $ 78,042,454 $ 78,042,454 Equity — — 303,454,287 303,454,287 — — 153,155,000 153,155,000 Total investments $ — $ — $ 455,996,741 $ 455,996,741 $ — $ — $ 231,197,454 $ 231,197,454
Unobservable Inputs Used in Fair Value Measurement of Investments	The ranges of unobservable inputs used in the fair value measurement of the Company’s Level 3 investments as of December 31, 2021 and 2020 were as follows: As of December 31, 2021 Asset Group Fair Value Valuation Techniques Unobservable Inputs Range (Weighted Average) (1) Impact to Valuation from an Increase in Input (2) Senior Debt $ 130,042,454 Discounted Cash Flow Discount Rate 8.5% – 13.0% (11.4%) 4.1x – 15.2x (8.9x) 6.0x – 12.5x (9.6x) Decrease 22,500,000 Transaction Precedent Transaction Price N/A N/A Equity 256,695,000 Discounted Cash Flow Discount Rate 8.5% – 13.0% (11.4%) 4.1x – 15.2x (8.9x) 6.0x – 12.5x (9.6x) Decrease 46,759,287 Transaction Precedent Transaction Price N/A N/A Total $ 455,996,741 As of December 31, 2020 Asset Group Fair Value Valuation Techniques Unobservable Inputs Range (Weighted Average) (1) Impact to Valuation from an Increase in Input (2) Senior Debt $ 78,042,454 Discounted Cash Flow Discount Rate 8.0% – 13.0% (10.7%) 6.4x – 15.2x (11.6x) 6.8x – 14.5x (11.3x) Decrease Equity 153,155,000 Discounted Cash Flow Discount Rate 8.0% – 13.0% (10.7%) 6.4x – 15.2x (11.6x) 6.8x – 14.5x (11.3x) Decrease Total $ 231,197,454 FOOTNOTES: (1) Discount rates are relative to the enterprise value of the portfolio companies and are not the market yields on the associated debt investments. Unobservable inputs were weighted by the relative fair value of the investments. (2) This column represents the directional change in the fair value of the Level 3 investments that would result from an increase to the corresponding unobservable input. A decrease to the input would have the opposite effect. Significant changes in these inputs in isolation could result in significantly higher or lower fair value measurements.
Reconciliations of Investments of Level 3 Inputs	The following tables provide a reconciliation of investments for which Level 3 inputs were used in determining fair value for the years ended December 31, 2021 and 2020: Year Ended December 31, 2021 Senior Debt Equity Total Fair value balance as of January 1, 2021 $ 78,042,454 $ 153,155,000 $ 231,197,454 Additions 74,500,000 118,259,287 192,759,287 Return of capital (1) — (2,462,715) (2,462,715) Net change in unrealized appreciation (2) — 34,502,715 34,502,715 Fair value balance as of December 31, 2021 $ 152,542,454 $ 303,454,287 $ 455,996,741 Change in net unrealized appreciation on investments held as of December 31, 2021 (2) $ — $ 34,502,715 $ 34,502,715 Year Ended December 31, 2020 Senior Debt Equity Total Fair value balance as of January 1, 2020 $ 48,167,603 $ 96,027,397 $ 144,195,000 Additions 29,874,851 34,307,923 64,182,774 Net change in unrealized appreciation (2) — 22,819,680 22,819,680 Fair value balance as of December 31, 2020 $ 78,042,454 $ 153,155,000 $ 231,197,454 Change in net unrealized appreciation on investments held as of December 31, 2020 (2) $ — $ 22,819,680 $ 22,819,680 FOOTNOTES: (1) Represents portion of distributions received which were accounted for as a return of capital. See Note 2. “Significant Accounting Policies” for information on the accounting treatment of distributions from portfolio companies. (2) Included in net change in unrealized appreciation on investments in the consolidated statements of operations.

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
High Water Marks	For the years ended December 31, 2021 and 2020, the High Water Marks were as follows: For the year ended: Class FA Class A Class T Class D Class I Class S December 31, 2020 $ 27.64 $ 26.91 $ 27.01 $ 26.61 $ 27.15 $ 27.64 December 31, 2021 29.97 28.76 28.67 28.24 29.06 30.08 Related party fees and expenses incurred for the years ended December 31, 2021 and 2020 are summarized below: Years Ended December 31, Related Party Source Agreement & Description 2021 2020 Managing Dealer /Placement Agent Managing Dealer / Placement Agent Agreements: Commissions $ 1,524,232 $ 1,918,852 Dealer Manager / Placement Agent Fees 820,985 1,256,229 Distribution and shareholder servicing fees 396,774 165,012 Manager and Sub-Manager Management Agreement and Sub-Management Agreement: Organization and offering reimbursement (1)(2) 2,490,377 1,142,237 Base management fees (1) 4,845,052 2,596,842 Total return incentive fees (1) 7,282,840 4,150,562 Manager and Sub-Manager Expense Support and Conditional Reimbursement Agreement: Expense support — (3,301,473) Reimbursement of expense support 1,830,920 — Manager Administrative Services Agreement: Reimbursement of third-party operating expenses (1) 104,195 191,070 Sub-Manager Sub-Management Agreement: Reimbursement of third-party pursuit costs (1)(3) 651,362 154,727 FOOTNOTES: (1) Expenses subject to Expense Support. (2) Organization reimbursements are expensed on the Company’s statements of operations as incurred. Offering reimbursements are capitalized on the Company’s statements of assets and liabilities as deferred offering expenses and expensed to the Company’s statements of operations over the lesser of the offering period or 12 months. (3) Includes reimbursement of third-party fees incurred for investments that did not close, including fees and expenses associated with performing the due diligence reviews. The following table presents amounts due from (to) related parties as of December 31, 2021 and 2020: December 31, 2021 2020 Due from related parties: Expense Support $ — $ 3,301,473 Total due from related parties — 3,301,473 Due to related parties: Total return incentive fees (7,282,840) (4,150,562) Reimbursement of expense support (1,830,920) — Base management fees (577,538) (271,983) Organization and offering expenses (175,749) (122,779) Distribution and shareholder servicing fees (53,149) (19,814) Reimbursement of third-party operating expenses and pursuit costs (1,330) (212,793) Total due to related parties (9,921,526) (4,777,931) Net due to related parties $ (9,921,526) $ (1,476,458)
Schedule of Expense Support	The following table summarizes annual Expense Support received, estimate of Expense Support to be reimbursed, and the remaining Expense Support that may become reimbursable, subject to the conditions of reimbursement defined in the Expense Support and Conditional Reimbursement Agreement, as of December 31, 2021: For the Year Ended Amount of Expense Support Received Expense Support Reimbursed (1) Unreimbursed Expense Support (2) Expiration December 31, 2018 $ 389,774 $ (352,653) $ 37,121 March 31, 2022 December 31, 2019 1,372,020 (969,591) 402,429 March 31, 2023 December 31, 2020 3,301,473 (508,676) 2,792,797 March 31, 2024 $ 5,063,267 $ (1,830,920) $ 3,232,347 FOOTNOTES: (1) Represents amount accrued as of December 31, 2021 and paid to the Manager and Sub-Manager in March 2022. Expense support reimbursement is calculated by share class and subject to limitations as defined in the Expense Support and Conditional Reimbursement Agreement. (2) Unreimbursed amounts of $37,121 related to the year ended December 31, 2018 will not be reimbursed in future periods. As of December 31, 2021, management believes that additional reimbursement payments by the Company to the Manager and Sub-Manager related to the years ended December 31, 2019 and 2020 are not probable under the terms of the Expense Support and Conditional Reimbursement Agreement.

Distributions (Tables)

Distributions (Tables)	12 Months Ended
	Dec. 31, 2021
Distributions Made to Members or Limited Partners [Abstract]
Distributions Declared	The following table reflects the total distributions declared during the years ended December 31, 2021 and 2020: Distribution Period Distributions Declared (1)(2) Distributions Reinvested (3) Cash Distributions Net of Distributions Reinvested Year ended December 31, 2021 $ 15,489,084 $ 4,428,799 $ 11,060,285 Year ended December 31, 2020 9,929,353 2,240,547 7,688,806 FOOTNOTES: (1) Distributions declared per share for each share class were as follows: Record Date Period Class FA Class A Class T Class D Class I Class S January 1, 2021 - December 31, 2021 $ 0.104167 $ 0.104167 $ 0.083333 $ 0.093750 $ 0.104167 $ 0.104167 January 1, 2020 - December 31, 2020 0.104167 0.104167 0.083333 0.093750 0.104167 0.104167 (2) The Company’s board of directors began declaring monthly distributions per Class S share for record date March 30, 2020. The Class S shares were first sold on March 31, 2020. (3) Amounts based on distribution record date. The sources of declared distributions on a GAAP basis were as follows: Years Ended December 31, 2021 2020 Amount % of Cash Distributions Declared Amount % of Cash Distributions Declared Net investment income (1) $ 10,092,849 65.2 % $ 7,493,472 75.5 % Distributions in excess of net investment income (2) 5,396,235 34.8 2,435,881 24.5 Total distributions declared $ 15,489,084 100.0 % $ 9,929,353 100.0 % FOOTNOTES: (1) Net investment income includes expense support (reimbursement) of $(1,830,920) and $3,301,473 for the years ended December 31, 2021 and 2020, respectively. See Note 5. “Related Party Transactions” for additional information.

Capital Transactions (Tables)

Capital Transactions (Tables)	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Summary of Shares Issued and Proceeds Received in Connection with Private Placement	The following table summarizes the total shares issued and proceeds received by share class in connection with the Offerings, excluding shares repurchased through the Share Repurchase Program described further below, for the years ended December 31, 2021 and 2020: Year Ended December 31, 2021 Proceeds from Offerings Distributions Reinvested (1) Total Share Class Shares Issued Gross Proceeds Sales Load (2) Net Proceeds to Company Shares Proceeds to Company Shares Net Proceeds to Company Average Net Proceeds per Share Class A 403,267 $ 13,195,644 $ (958,829) $ 12,236,815 43,744 $ 1,322,539 447,011 $ 13,559,354 $ 30.33 Class T 954,157 30,411,622 (1,386,388) 29,025,234 19,417 585,294 973,574 29,610,528 30.41 Class D 547,808 16,473,300 — 16,473,300 13,798 409,939 561,606 16,883,239 30.06 Class I 3,419,158 105,230,820 — 105,230,820 60,472 1,856,610 3,479,630 107,087,430 30.78 5,324,390 $ 165,311,386 $ (2,345,217) $ 162,966,169 137,431 $ 4,174,382 5,461,821 $ 167,140,551 $ 30.60 Year Ended December 31, 2020 Proceeds from Offerings Distributions Reinvested (1) Total Share Class Shares Issued Gross Proceeds Sales Load (2)(3) Net Proceeds to Company Shares Proceeds to Company Shares Net Proceeds to Company Average Net Proceeds per Share Class FA 569,642 $ 15,853,000 $ (167,960) $ 15,685,040 — $ — 569,642 $ 15,685,040 $ 27.53 Class A 334,440 9,808,964 (679,465) 9,129,499 35,376 961,623 369,816 10,091,122 27.29 Class T 473,344 13,486,208 (640,595) 12,845,613 8,440 229,816 481,784 13,075,429 27.14 Class D 143,074 3,873,660 — 3,873,660 9,174 245,006 152,248 4,118,666 27.05 Class I 1,076,234 29,893,733 — 29,893,733 24,532 673,348 1,100,766 30,567,081 27.77 Class S 1,770,386 52,359,647 (1,687,061) 50,672,586 — — 1,770,386 50,672,586 28.62 4,367,120 $ 125,275,212 $ (3,175,081) $ 122,100,131 77,522 $ 2,109,793 4,444,642 $ 124,209,924 $ 27.95 FOOTNOTES: (1) Amounts are based on distribution reinvestment date. Distributions are declared monthly and paid or reinvested one month in arrears. (2) The Company incurred selling commissions and placement agent fees on the sale of Class FA shares sold in the Follow-On Class FA Private Offering and on the sale of Class S shares sold in the Class S Private Offering. The Company also incurs selling commissions and dealer manager fees on the sale of Class A and Class T shares sold through the Public Offerings. See Note 5. “Related Party Transactions” for additional information regarding up-front selling commissions and dealer manager/placement agent fees.
Summary of Shares Repurchased	Years Ended December 31, 2021 2020 Share Class Number of Shares Total Consideration Average Price Paid per Share Number of Shares Total Consideration Average Price Paid per Share Class FA 19,637 $ 630,608 $ 32.11 246,653 $ 7,037,470 $ 28.53 Class A 20,876 627,150 30.04 4,580 123,038 26.86 Class T 19,158 574,225 29.97 25,774 721,226 27.98 Class D 6,711 198,484 29.58 1,156 32,212 27.85 Class I 36,349 1,118,904 30.78 63,062 1,732,971 27.48 Class S 4,307 141,497 32.85 — — — Total 107,038 $ 3,290,868 $ 30.74 341,225 $ 9,646,917 $ 28.27

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense and Deferred Taxes	The components of income tax expense and deferred taxes on investments related to the Company’s Taxable Subsidiaries during the years ended December 31, 2021 and 2020 were as follows: Years Ended December 31, 2021 2020 Current: Federal $ 1,315,437 $ — State 314,793 — Total current tax expense 1,630,230 — Deferred: Federal 1,135,464 220,097 State 474,610 46,692 Total deferred tax expense 1,610,074 266,789 Income tax expense $ 3,240,304 $ 266,789
Significant Components of Deferred Tax Assets	Significant components of the Company’s deferred tax assets as of December 31, 2021 and 2020 were as follows: December 31, 2021 2020 Deferred tax assets: Carryforwards for net operating loss $ 532,822 $ 248,641 Other 18,120 — Valuation Allowance (21,899) — Total deferred tax assets 529,043 248,641 Deferred tax liabilities: Unrealized appreciation on investments (2,405,906) (515,430) Total deferred tax liabilities (2,405,906) (515,430) Deferred tax liabilities, net $ (1,876,863) $ (266,789)
Reconciliation of Income Tax Expense to Statutory Rate	The table below presents a reconciliation of tax expense the Company would be subject to if it were taxed as a corporation to the Company’s actual income tax expense incurred by its Taxable Subsidiaries for the years ended December 31, 2021 and 2020: Years Ended December 31, 2021 2020 Tax expense computed at the federal statutory rate $ 9,707,417 21.0 % $ 6,365,762 21.0 % State income tax expense net of federal benefit 789,404 1.7 73,491 0.2 Benefit of partnership structure (7,256,517) (15.7) (6,172,464) (20.3) Income tax expense $ 3,240,304 7.0 % $ 266,789 0.9 %

Financial Highlights (Tables)

Financial Highlights (Tables)	12 Months Ended
	Dec. 31, 2021
Investment Company [Abstract]
Schedule of Financial Highlights	The following are schedules of financial highlights of the Company attributed to each class of shares for the years ended December 31, 2021 and 2020 (in thousands except per share data): Year Ended December 31, 2021 Class FA Class A Class T Class D Class I Class S OPERATING PERFORMANCE PER SHARE Net Asset Value, Beginning of Year $ 29.97 $ 28.76 $ 28.67 $ 28.24 $ 29.06 $ 30.08 Net investment income (loss), before reimbursement of expense support (1) 1.33 0.65 0.39 0.58 0.60 1.23 Reimbursement of expense support (1)(2) (0.21) (0.19) (0.21) (0.14) (0.09) — Net investment income (1) 1.12 0.46 0.18 0.44 0.51 1.23 Net realized and unrealized gains, net of taxes (1)(3) 2.78 2.81 2.81 2.80 2.86 2.78 Net increase resulting from investment operations 3.90 3.27 2.99 3.24 3.37 4.01 Distributions to shareholders (4) (1.25) (1.25) (1.00) (1.13) (1.25) (1.25) Net decrease resulting from distributions to shareholders (1.25) (1.25) (1.00) (1.13) (1.25) (1.25) Net Asset Value, End of Year $ 32.62 $ 30.78 $ 30.66 $ 30.35 $ 31.18 $ 32.84 Net assets, end of period $ 148,716 $ 44,958 $ 49,328 $ 30,607 $ 168,704 $ 57,995 Average net assets (5) $ 145,353 $ 37,354 $ 30,486 $ 20,335 $ 106,275 $ 56,575 Shares outstanding, end of period 4,559 1,461 1,609 1,009 5,410 1,766 Distributions declared $ 5,714 $ 1,531 $ 1,000 $ 760 $ 4,271 $ 2,213 Total investment return based on net asset value before total return incentive fee (6) 14.55 % 13.88 % 11.96 % 13.31 % 13.39 % 15.07 % Total investment return based on net asset value after total return incentive fee (6) 12.92 % 11.53 % 10.55 % 11.61 % 11.76 % 13.54 % RATIOS/SUPPLEMENTAL DATA: Ratios to average net assets: (5)(7) Total operating expenses before total return incentive fee and reimbursement of expense support 1.41 % 2.97 % 4.93 % 4.16 % 3.93 % 1.67 % Total operating expenses before reimbursement of expense support 2.77 % 5.52 % 6.99 % 6.45 % 6.25 % 3.07 % Total operating expenses after reimbursement of expense support 3.44 % 6.13 % 7.70 % 6.91 % 6.55 % 3.07 % Net investment income before total return incentive fee (9) 4.88 % 4.06 % 2.65 % 3.77 % 3.97 % 5.26 % Net investment income 3.52 % 1.52 % 0.59 % 1.48 % 1.65 % 3.86 % Year Ended December 31, 2020 Class FA Class A Class T Class D Shares Class I Class S OPERATING PERFORMANCE PER SHARE Net Asset Value, Beginning of Year (8) $ 27.64 $ 26.91 $ 27.01 $ 26.61 $ 27.15 $ 27.56 Net investment income before expense support (1) 0.79 0.10 (0.33) 0.03 0.02 0.82 Expense support (1)(2) 0.35 0.53 0.47 0.26 0.66 0.10 Net investment income (1) 1.14 0.63 0.14 0.29 0.68 0.92 Net realized and unrealized gains (1)(3) 2.44 2.47 2.52 2.47 2.48 2.64 Net increase resulting from investment operations 3.58 3.10 2.66 2.76 3.16 3.56 Distributions to shareholders (4) (1.25) (1.25) (1.00) (1.13) (1.25) (1.04) Net decrease resulting from distributions to shareholders (1.25) (1.25) (1.00) (1.13) (1.25) (1.04) Net Asset Value, End of Year $ 29.97 $ 28.76 $ 28.67 $ 28.24 $ 29.06 $ 30.08 Net assets, end of period $ 137,238 $ 29,748 $ 18,772 $ 12,813 $ 57,148 $ 53,245 Average net assets (5) $ 130,940 $ 22,984 $ 11,991 $ 9,675 $ 35,672 $ 19,257 Shares outstanding, end of period 4,579 1,034 655 454 1,967 1,770 Distributions declared $ 5,812 $ 1,052 $ 436 $ 405 $ 1,610 $ 615 Total investment return based on net asset value before total return incentive fee (6) 13.27 % 12.43 % 10.79 % 11.99 % 12.23 % 13.36 % Total investment return based on net asset value after total return incentive fee (6) 13.16 % 11.89 % 10.11 % 10.67 % 12.01 % 12.80 % RATIOS/SUPPLEMENTAL DATA: Ratios to average net assets: (5)(7) Total operating expenses before total return incentive fee and expense support 1.81 % 3.51 % 5.54 % 3.93 % 4.02 % 2.35 % Total operating expenses before expense support 3.10 % 6.09 % 8.21 % 6.48 % 6.72 % 4.15 % Total operating expenses after expense support 1.85 % 4.14 % 6.49 % 5.52 % 4.34 % 3.79 % Net investment income before total return incentive fee (9) 4.09 % 2.96 % 1.46 % 2.67 % 2.78 % 4.66 % Net investment income 4.05 % 2.32 % 0.51 % 1.08 % 2.46 % 3.17 % FOOTNOTES: (1) The per share amounts presented are based on weighted average shares outstanding. (2) Expense support (reimbursement) is accrued throughout the year and is subject to a final calculation as of the last business day of the calendar year. (3) The amount shown at this caption is the balancing figure derived from the other figures in the schedule. The amount shown at this caption for a share outstanding throughout the period may not agree with the change in the aggregate gains and losses in portfolio investments for the period because of the timing of sales and repurchases of the Company’s shares in relation to fluctuating fair values for the portfolio investments. (4) The per share data for distributions is the actual amount of distributions paid or payable per common share outstanding during the entire period; distributions per share are rounded to the nearest $0.01. (5) The computation of average net assets during the period is based on net assets measured at each month end, adjusted for capital contributions or withdrawals during the month. (6) Total investment return is calculated for each share class as the change in the net asset value for such share class during the period and assuming all distributions are reinvested. Class FA assumes distributions are reinvested in Class A shares and all other share classes assume distributions are reinvested in the same class, including Class S shares which do not participate in the distribution reinvestment plan. Amounts are not annualized and are not representative of total return as calculated for purposes of the total return incentive fee described in Note 5. “Related Party Transactions.” Total returns before total return incentive fees also exclude related expense support. See footnote (9) below for information regarding the percentage of total incentive fees covered by expense support by share class for all periods presented. Since there is no public market for the Company’s shares, terminal market value per share is assumed to be equal to net asset value per share on the last day of the period presented. The Company’s performance changes over time and currently may be different than that shown above. Past performance is no guarantee of future results. Investment performance is presented without regard to sales load that may be incurred by shareholders in the purchase of the Company’s shares. (7) Actual results may not be indicative of future results. Additionally, an individual investor’s ratios may vary from the ratios presented for a share class as a whole. (8) The net asset value as of the beginning of the period is as of January 1, 2020 for all share classes except Class S shares. The net asset value as of the beginning of the period for Class S shares is based on the price of shares sold, net of any sales load, to the initial Class S investors. The initial investors for Class S shares purchased their shares on March 31, 2020. (9) Amounts represent net investment income before total return incentive fee and related expense support as a percentage of average net assets. For the year ended December 31, 2021, total return incentive fees were not covered by expense support as the Company recorded expense support reimbursement during this period.

Subsequent Events (Tables)

Subsequent Events (Tables)	12 Months Ended
	Dec. 31, 2021
Subsequent Events [Abstract]
Summary of New Public Offering Prices and Applicable Upfront Selling Commissions and Dealer Manager Fees	The following table provides the new offering prices and applicable upfront selling commissions and placement agent / dealer manager fees for each share class available in the Public Offering: Class A Class T Class D Class I Effective January 28, 2022: Offering Price, Per Share $ 33.64 $ 32.19 $ 30.35 $ 31.18 Selling Commissions, Per Share 2.02 0.97 — — Placement Agent / Dealer Manager Fees, Per Share 0.84 0.56 — — Effective February 25, 2022: Offering Price, Per Share $ 33.98 $ 32.48 $ 30.65 $ 31.50 Selling Commissions, Per Share 2.04 0.97 — — Dealer Manager Fees, Per Share 0.85 0.57 — — Effective March 24, 2022: Offering Price, Per Share $ 33.97 $ 32.44 $ 30.62 $ 31.49 Selling Commissions, Per Share 2.04 0.97 — — Dealer Manager Fees, Per Share 0.85 0.57 — —
Schedule of Gross Proceeds	During the period January 1, 2022 through March 28, 2022, the Company received additional net proceeds from the Public Offering and its distribution reinvestment plan of the following: Proceeds from Public Offering Distribution Reinvestment Plan Total Share Class Shares Issued Gross Proceeds Sales Load Net Proceeds to Company Shares Proceeds to Company Shares Net Proceeds to Company Average Net Proceeds per Share Class A 102,283 $ 3,404,361 $ (234,035) $ 3,170,326 10,698 $ 330,988 112,981 $ 3,501,314 $ 30.99 Class T 40,504 1,308,250 (60,432) 1,247,818 8,231 253,154 48,735 1,500,972 30.80 Class D 70,157 2,143,000 — 2,143,000 5,393 164,194 75,550 2,307,194 30.54 Class I 493,689 15,458,388 — 15,458,388 24,666 773,117 518,355 16,231,505 31.31 706,633 $ 22,313,999 $ (294,467) $ 22,019,532 48,988 $ 1,521,453 755,621 $ 23,540,985 $ 31.15

Principal Business and Organi_2

Principal Business and Organization - Additional Information (Detail)	Nov. 01, 2021USD ($)	Mar. 07, 2018USD ($)	Dec. 31, 2021USD ($)portfolioCompany	Dec. 31, 2020offering
Organization And Business Activities [Line Items]
Number classes of shares | portfolioCompany			4
Private Placement
Organization And Business Activities [Line Items]
Number of Offerings | offering				4
Initial Public Offering, Including Distribution Reinvestment Plan
Organization And Business Activities [Line Items]
Shares authorized for sale		$ 1,100,000,000
Distribution Reinvestment Plan
Organization And Business Activities [Line Items]
Shares authorized for sale	$ 100,000,000	$ 100,000,000
Follow On Public Offering, Including Distribution Reinvestment Plan
Organization And Business Activities [Line Items]
Shares authorized for sale	$ 1,100,000,000
Minimum
Organization And Business Activities [Line Items]
Targeted business annual revenues for acquisition			$ 15,000,000
Maximum
Organization And Business Activities [Line Items]
Targeted business annual revenues for acquisition			$ 250,000,000

Investments - Additional Inform

Investments - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2021USD ($)InvestmentportfolioCompany	Dec. 31, 2020USD ($)portfolioCompanyInvestment
Schedule of Investments [Line Items]
Number of portfolio companies invested in during the year | portfolioCompany	3	3
Purchases of investments | $	$ 192,759,287	$ 64,182,774
Number of debt investments on non accrual status | Investment	0	0
Total Senior Secured Notes
Schedule of Investments [Line Items]
Weighted average yield on debt investments (in percent)	15.30%
Weighted average years to maturity	5.1

Investments - Summary of Invest

Investments - Summary of Investment Portfolio (Detail) - USD ($)	Dec. 31, 2021		Dec. 31, 2020
Investment Holdings [Line Items]
Cost	$ 387,753,685	[1],[2]	$ 197,457,113	[3],[4]
Fair Value	$ 455,996,741	[1],[2]	$ 231,197,454	[3],[4]
Fair Value Percentage of Investment Portfolio	100.00%		100.00%
Fair Value Percentage of Net Assets	91.20%	[1],[2]	74.80%	[3],[4]
Total Senior Secured Notes
Investment Holdings [Line Items]
Cost	$ 152,542,454	[1],[2]	$ 78,042,454	[3],[4]
Fair Value	$ 152,542,454	[1],[2]	$ 78,042,454	[3],[4]
Fair Value Percentage of Investment Portfolio	33.50%		33.80%
Fair Value Percentage of Net Assets	30.50%		25.20%
First lien
Investment Holdings [Line Items]
Cost	$ 116,600,000	[1],[2]	$ 42,100,000	[3],[4]
Fair Value	$ 116,600,000	[1],[2]	$ 42,100,000	[3],[4]
Fair Value Percentage of Investment Portfolio	25.60%		18.20%
Fair Value Percentage of Net Assets	23.30%	[1],[2]	13.60%	[3],[4]
Second lien
Investment Holdings [Line Items]
Cost	$ 35,942,454	[1],[2]	$ 35,942,454	[3],[4]
Fair Value	$ 35,942,454	[1],[2]	$ 35,942,454	[3],[4]
Fair Value Percentage of Investment Portfolio	7.90%		15.60%
Fair Value Percentage of Net Assets	7.20%	[1],[2]	11.60%	[3],[4]
Equity
Investment Holdings [Line Items]
Cost	$ 235,211,231	[1],[2]	$ 119,414,659	[3],[4]
Fair Value	$ 303,454,287	[1],[2]	$ 153,155,000	[3],[4]
Fair Value Percentage of Investment Portfolio	66.50%		66.20%
Fair Value Percentage of Net Assets	60.70%	[1],[2]	49.60%	[3],[4]
[1]	Percentages represent fair value as a percentage of net assets for each investment category.
[2]	Security may be an obligation of one or more entities affiliated with the named company.
[3]	Percentages represent fair value as a percentage of net assets for each investment category.
[4]	Security may be an obligation of one or more entities affiliated with the named company.

Investments - Industry and Geog

Investments - Industry and Geographic Dispersion of Investment Portfolio as Percentage of Total Fair Value of Investments (Detail)	Dec. 31, 2021	Dec. 31, 2020
Investment Holdings [Line Items]
Percentage of total fair value of investment	100.00%	100.00%
Real Estate Services
Investment Holdings [Line Items]
Percentage of total fair value of investment	17.20%	0.00%
Commercial and Professional Services
Investment Holdings [Line Items]
Percentage of total fair value of investment	15.80%	27.50%
Visual Safety Solutions
Investment Holdings [Line Items]
Percentage of total fair value of investment	15.20%	0.00%
Information Services and Advisory Solutions
Investment Holdings [Line Items]
Percentage of total fair value of investment	12.10%	22.30%
Sanitation Products
Investment Holdings [Line Items]
Percentage of total fair value of investment	11.10%	0.00%
Healthcare Supplies
Investment Holdings [Line Items]
Percentage of total fair value of investment	10.60%	18.40%
Hobby Goods and Supplies
Investment Holdings [Line Items]
Percentage of total fair value of investment	8.70%	15.20%
Engineered Products
Investment Holdings [Line Items]
Percentage of total fair value of investment	2.80%	10.80%
Business Services
Investment Holdings [Line Items]
Percentage of total fair value of investment	6.50%	5.80%

Investments - Summary of Operat

Investments - Summary of Operating and Balance Sheet Data (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Investment Company, Financial Highlights [Line Items]
Expenses	$ (17,916,954)	$ (10,261,852)
Income tax expense	(3,240,304)	(266,789)
Net increase in net assets resulting from operations	42,985,490	30,046,363
Lawn Doctor
Investment Company, Financial Highlights [Line Items]
Revenues	35,018,000	28,677,000
Expenses	(31,749,000)	(27,232,000)
Income (loss) before taxes	3,269,000	1,445,000
Income tax expense	(832,000)	(371,000)
Consolidated net income (loss)	2,437,000	1,074,000
Net loss attributable to non-controlling interests	107,000	213,000
Net increase in net assets resulting from operations	2,544,000	1,287,000
Current assets	13,926,000	8,386,000
Non-current assets	92,309,000	94,601,000
Current liabilities	7,961,000	7,670,000
Non-current liabilities	63,576,000	53,386,000
Non-controlling interest	(500,000)	(393,000)
Stockholders’ equity	$ 35,198,000	$ 42,324,000
Ownership percentage	61.00%	61.00%
Polyform
Investment Company, Financial Highlights [Line Items]
Revenues	$ 22,297,000	$ 18,981,000
Expenses	(20,097,000)	(17,372,000)
Income (loss) before taxes	2,200,000	1,609,000
Income tax expense	(574,000)	(469,000)
Consolidated net income (loss)	1,626,000	1,140,000
Net loss attributable to non-controlling interests	0	0
Net increase in net assets resulting from operations	1,626,000	1,140,000
Current assets	9,940,000	9,692,000
Non-current assets	28,948,000	30,033,000
Current liabilities	2,290,000	2,461,000
Non-current liabilities	21,557,000	21,563,000
Non-controlling interest	0	0
Stockholders’ equity	$ 15,041,000	$ 15,701,000
Ownership percentage	87.00%	87.00%
Roundtables
Investment Company, Financial Highlights [Line Items]
Revenues	$ 13,128,000	$ 10,942,000
Expenses	(13,276,000)	(11,692,000)
Income (loss) before taxes	(148,000)	(750,000)
Income tax expense	(469,000)	1,443,000
Consolidated net income (loss)	(617,000)	693,000
Net loss attributable to non-controlling interests	0	0
Net increase in net assets resulting from operations	(617,000)	693,000
Current assets	2,043,000	4,167,000
Non-current assets	61,955,000	59,582,000
Current liabilities	4,738,000	4,407,000
Non-current liabilities	19,771,000	19,553,000
Non-controlling interest	0	0
Stockholders’ equity	$ 39,489,000	$ 39,789,000
Ownership percentage	81.00%	81.00%
HSH
Investment Company, Financial Highlights [Line Items]
Revenues	$ 32,918,000	$ 13,940,000
Expenses	(30,769,000)	(15,633,000)
Income (loss) before taxes	2,149,000	(1,693,000)
Income tax expense	(456,000)	109,000
Consolidated net income (loss)	1,693,000	(1,584,000)
Net loss attributable to non-controlling interests	0	0
Net increase in net assets resulting from operations	1,693,000	(1,584,000)
Current assets	14,260,000	12,684,000
Non-current assets	39,653,000	42,701,000
Current liabilities	7,341,000	5,733,000
Non-current liabilities	28,536,000	29,297,000
Non-controlling interest	0	0
Stockholders’ equity	$ 18,036,000	$ 20,355,000
Ownership percentage	75.00%	75.00%
ATA
Investment Company, Financial Highlights [Line Items]
Revenues	$ 59,021,000
Expenses	(52,494,000)
Income (loss) before taxes	6,527,000
Income tax expense	0
Consolidated net income (loss)	6,527,000
Net loss attributable to non-controlling interests	0
Net increase in net assets resulting from operations	6,527,000
Current assets	10,029,000
Non-current assets	90,510,000
Current liabilities	9,002,000
Non-current liabilities	43,458,000
Non-controlling interest	0
Stockholders’ equity	$ 48,079,000
Ownership percentage	75.00%
Douglas
Investment Company, Financial Highlights [Line Items]
Revenues	$ 6,099,000
Expenses	(19,146,000)
Income (loss) before taxes	(13,047,000)
Income tax expense	2,608,000
Consolidated net income (loss)	(10,439,000)
Net loss attributable to non-controlling interests	0
Net increase in net assets resulting from operations	(10,439,000)
Current assets	13,177,000
Non-current assets	40,311,000
Current liabilities	4,159,000
Non-current liabilities	15,711,000
Non-controlling interest	0
Stockholders’ equity	$ 33,618,000
Ownership percentage	90.00%
Clarion
Investment Company, Financial Highlights [Line Items]
Revenues	$ 676,000
Expenses	(1,857,000)
Income (loss) before taxes	(1,181,000)
Income tax expense	341,000
Consolidated net income (loss)	(840,000)
Net loss attributable to non-controlling interests	0
Net increase in net assets resulting from operations	(840,000)
Current assets	3,084,000
Non-current assets	66,182,000
Current liabilities	420,000
Non-current liabilities	22,500,000
Non-controlling interest	0
Stockholders’ equity	$ 46,346,000
Ownership percentage	99.00%
Other
Investment Company, Financial Highlights [Line Items]
Revenues	$ 118,256,000	$ 87,740,000
Expenses	(127,990,000)	(98,687,000)
Income (loss) before taxes	(9,734,000)	(10,947,000)
Income tax expense	875,000	3,117,000
Consolidated net income (loss)	(8,859,000)	(7,830,000)
Net loss attributable to non-controlling interests	0	0
Net increase in net assets resulting from operations	(8,859,000)	(7,830,000)
Current assets	64,792,000	51,902,000
Non-current assets	322,397,000	311,985,000
Current liabilities	41,781,000	35,927,000
Non-current liabilities	168,726,000	146,901,000
Non-controlling interest	0	0
Stockholders’ equity	$ 176,682,000	$ 181,059,000
Milton Industries, Inc.
Investment Company, Financial Highlights [Line Items]
Ownership percentage	13.00%	13.00%
Resolution Economics
Investment Company, Financial Highlights [Line Items]
Ownership percentage	8.00%	8.00%
Blue Ridge ESOP Associates
Investment Company, Financial Highlights [Line Items]
Ownership percentage	16.00%	17.00%

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Investments Categorization in Fair Value Hierarchy (Detail) - USD ($)	Dec. 31, 2021		Dec. 31, 2020
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 455,996,741	[1],[2]	$ 231,197,454	[3],[4]
Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	0		0
Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	0		0
Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	455,996,741		231,197,454
Total Senior Secured Notes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	152,542,454	[1],[2]	78,042,454	[3],[4]
Total Senior Secured Notes | Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	0		0
Total Senior Secured Notes | Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	0		0
Total Senior Secured Notes | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	152,542,454		78,042,454
Equity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	303,454,287	[1],[2]	153,155,000	[3],[4]
Equity | Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	0		0
Equity | Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	0		0
Equity | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 303,454,287		$ 153,155,000
[1]	Percentages represent fair value as a percentage of net assets for each investment category.
[2]	Security may be an obligation of one or more entities affiliated with the named company.
[3]	Percentages represent fair value as a percentage of net assets for each investment category.
[4]	Security may be an obligation of one or more entities affiliated with the named company.

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Unobservable Inputs Used in Fair Value Measurement of Investments (Detail)	Dec. 31, 2021USD ($)		Dec. 31, 2020USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, at fair value	$ 455,996,741	[1],[2]	$ 231,197,454	[3],[4]
Total Senior Secured Notes | Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, at fair value	130,042,454		$ 78,042,454
Total Senior Secured Notes | Transaction Precedent
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, at fair value	$ 22,500,000
Total Senior Secured Notes | Discount Rate | Discounted Cash Flow | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, Debt securities	0.085		0.080
Total Senior Secured Notes | Discount Rate | Discounted Cash Flow | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, Debt securities	0.130		0.130
Total Senior Secured Notes | Discount Rate | Discounted Cash Flow | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, Debt securities	0.114		0.107
Total Senior Secured Notes | EBITDA Multiple | Market Comparables | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, Debt securities	4.1		6.4
Total Senior Secured Notes | EBITDA Multiple | Market Comparables | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, Debt securities	15.2		15.2
Total Senior Secured Notes | EBITDA Multiple | Market Comparables | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, Debt securities	8.9		11.6
Total Senior Secured Notes | EBITDA Multiple | Transaction Method | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, Debt securities	6		6.8
Total Senior Secured Notes | EBITDA Multiple | Transaction Method | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, Debt securities	12.5		14.5
Total Senior Secured Notes | EBITDA Multiple | Transaction Method | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, Debt securities	9.6		11.3
Equity | Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, at fair value	$ 256,695,000		$ 153,155,000
Equity | Transaction Precedent
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, at fair value	$ 46,759,287
Equity | Discount Rate | Discounted Cash Flow | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, Debt securities	0.085		0.080
Equity | Discount Rate | Discounted Cash Flow | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, Debt securities	0.130		0.130
Equity | Discount Rate | Discounted Cash Flow | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, Debt securities	0.114		0.107
Equity | EBITDA Multiple | Market Comparables | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, Debt securities	4.1		6.4
Equity | EBITDA Multiple | Market Comparables | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, Debt securities	15.2		15.2
Equity | EBITDA Multiple | Market Comparables | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, Debt securities	8.9		11.6
Equity | EBITDA Multiple | Transaction Method | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, Debt securities	6		6.8
Equity | EBITDA Multiple | Transaction Method | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, Debt securities	12.5		14.5
Equity | EBITDA Multiple | Transaction Method | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, Debt securities	9.6		11.3
[1]	Percentages represent fair value as a percentage of net assets for each investment category.
[2]	Security may be an obligation of one or more entities affiliated with the named company.
[3]	Percentages represent fair value as a percentage of net assets for each investment category.
[4]	Security may be an obligation of one or more entities affiliated with the named company.

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Reconciliations of Investments of Level 3 Inputs (Detail) - Level 3 - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value balance, beginning	$ 231,197,454	$ 144,195,000
Additions	192,759,287	64,182,774
Return of capital	(2,462,715)
Net change in unrealized appreciation	34,502,715	22,819,680
Fair value balance, ending	455,996,741	231,197,454
Change in net unrealized appreciation on investments held	34,502,715	22,819,680
Total Senior Secured Notes
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value balance, beginning	78,042,454	48,167,603
Additions	74,500,000	29,874,851
Return of capital	0
Net change in unrealized appreciation	0	0
Fair value balance, ending	152,542,454	78,042,454
Change in net unrealized appreciation on investments held	0	0
Equity
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value balance, beginning	153,155,000	96,027,397
Additions	118,259,287	34,307,923
Return of capital	(2,462,715)
Net change in unrealized appreciation	34,502,715	22,819,680
Fair value balance, ending	303,454,287	153,155,000
Change in net unrealized appreciation on investments held	$ 34,502,715	$ 22,819,680

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($)	12 Months Ended				48 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2021
Related Party Transaction [Line Items]
Expiration period	3 years
Expense support	$ 0	$ (3,301,473)
Expense support reimbursable	(1,800,000)				$ (1,800,000)
Reimbursement of expense support	1,830,920	0			1,830,920
Distributions paid	10,765,618	7,395,691
Manager and Sub-Manager
Related Party Transaction [Line Items]
Organization and offering costs incurred	$ 4,200,000
Annual preference return relates to non-founder shares	8.75%
Annual preference return relates to founder shares	7.777%
Distributions paid	$ 700,000	700,000
Organization and offering reimbursement | Manager and Sub-Manager
Related Party Transaction [Line Items]
Related party fees and expenses	$ 2,490,377	1,142,237
Manager Sub Manager
Related Party Transaction [Line Items]
Percentage of return incentive fees payable	50.00%
Base management fees multiplier for non founder shares	2.00%
Base management fees multiplier for founder shares	1.00%
Annual preference return	7.00%
Annual preference return relates to non-founder shares	8.75%
Annual preference return relates to founder shares	7.777%
Expense support	$ (3,301,473)		$ (1,372,020)	$ (389,774)	$ (5,063,267)
Base management fees | Manager and Sub-Manager
Related Party Transaction [Line Items]
Related party fees and expenses	4,845,052	2,596,842
Return incentive fees | Manager and Sub-Manager
Related Party Transaction [Line Items]
Related party fees and expenses	7,282,840	4,150,562
Expense Support and Conditional Reimbursement Agreement: Expense support
Related Party Transaction [Line Items]
Reimbursement of expense support	1,830,920	0
Expense Support and Conditional Reimbursement Agreement: Expense support | Manager and Sub-Manager
Related Party Transaction [Line Items]
Related party fees and expenses	$ 0	$ (3,301,473)
Manager and Sub-Manager
Related Party Transaction [Line Items]
Shares outstanding end of period (in shares)	400,000	600,000			400,000
Minimum | Manager and Sub-Manager
Related Party Transaction [Line Items]
Annual preference return	7.00%
Proceeds from Public Offering | Manager and Sub-Manager
Related Party Transaction [Line Items]
Maximum percentage of reimbursement from private placement	1.50%
Private Placement | Manager and Sub-Manager
Related Party Transaction [Line Items]
Maximum percentage of reimbursement from private placement	1.00%
Class A
Related Party Transaction [Line Items]
Shares outstanding end of period (in shares)	1,461,000	1,034,000			1,461,000
Class A | Managing Dealer /Placement Agent
Related Party Transaction [Line Items]
Selling commission on share sold percentage	6.00%				6.00%
Class A | Proceeds from Public Offering
Related Party Transaction [Line Items]
Dealer manager fee	2.50%				2.50%
Class T
Related Party Transaction [Line Items]
Shares outstanding end of period (in shares)	1,609,000	655,000			1,609,000
Class T | Managing Dealer /Placement Agent
Related Party Transaction [Line Items]
Selling commission on share sold percentage	3.00%				3.00%
Class T | Proceeds from Public Offering
Related Party Transaction [Line Items]
Dealer manager fee	1.75%				1.75%
Annual distribution and fee, percentage	1.00%				1.00%
Class FA
Related Party Transaction [Line Items]
Shares outstanding end of period (in shares)	4,559,000	4,579,000			4,559,000
Class FA | Follow On Private Placement
Related Party Transaction [Line Items]
Selling commission on share sold percentage	5.50%		5.50%		5.50%
Placement agent fee on share sold percentage	3.00%		3.00%
Class D
Related Party Transaction [Line Items]
Shares outstanding end of period (in shares)	1,009,000	454,000			1,009,000
Class D | Proceeds from Public Offering
Related Party Transaction [Line Items]
Annual distribution and fee, percentage	0.50%				0.50%
Class S
Related Party Transaction [Line Items]
Shares outstanding end of period (in shares)	1,766,000	1,770,000			1,766,000
Class S | Class S Private Offering
Related Party Transaction [Line Items]
Selling commission on share sold percentage	2.00%	2.00%			2.00%
Placement agent fee on share sold percentage	1.50%	1.50%
Annual Preference Return Less than or Equal to 8.75% or the Non-founder breakpoint | Manager Sub Manager
Related Party Transaction [Line Items]
Percentage of return incentive fees payable	20.00%
Annual Preference Return Less Than 7.777% or Founder breakpoint | Manager Sub Manager
Related Party Transaction [Line Items]
Percentage of return incentive fees payable	10.00%

Related Party Transactions - Hi

Related Party Transactions - High Water Marks (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Class FA
Related Party Transaction [Line Items]
High water mark (in dollars per share)	$ 29.97	$ 27.64
Class A
Related Party Transaction [Line Items]
High water mark (in dollars per share)	28.76	26.91
Class T
Related Party Transaction [Line Items]
High water mark (in dollars per share)	28.67	27.01
Class D
Related Party Transaction [Line Items]
High water mark (in dollars per share)	28.24	26.61
Class I
Related Party Transaction [Line Items]
High water mark (in dollars per share)	29.06	27.15
Class S
Related Party Transaction [Line Items]
High water mark (in dollars per share)	$ 30.08	$ 27.64

Related Party Transactions - Ex

Related Party Transactions - Expense Support (Details) - USD ($)	12 Months Ended				48 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2021
Schedule of Expense Support (Reimbursement) [Line Items]
Amount of Expense Support Received	$ 0	$ 3,301,473
Reimbursement of Expense Support	(1,830,920)	$ 0			$ (1,830,920)
Expense Support, Not Reimbursed					3,232,347
2018
Schedule of Expense Support (Reimbursement) [Line Items]
Reimbursement of Expense Support				$ (352,653)
Expense Support, Not Reimbursed				37,121
2019
Schedule of Expense Support (Reimbursement) [Line Items]
Reimbursement of Expense Support			$ (969,591)
Expense Support, Not Reimbursed			402,429
2020
Schedule of Expense Support (Reimbursement) [Line Items]
Reimbursement of Expense Support	(508,676)
Expense Support, Not Reimbursed	2,792,797
Manager Sub Manager
Schedule of Expense Support (Reimbursement) [Line Items]
Amount of Expense Support Received	$ 3,301,473		$ 1,372,020	$ 389,774	$ 5,063,267

Related Party Transactions - Sc

Related Party Transactions - Schedule of Related Party Transactions (Detail) - USD ($)	12 Months Ended				48 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2021
Related Party Transaction [Line Items]
Reimbursement of expense support	$ 1,830,920	$ 0			$ 1,830,920
2018
Related Party Transaction [Line Items]
Reimbursement of expense support				$ 352,653
2019
Related Party Transaction [Line Items]
Reimbursement of expense support			$ 969,591
2020
Related Party Transaction [Line Items]
Reimbursement of expense support	508,676
Commissions | Managing Dealer /Placement Agent
Related Party Transaction [Line Items]
Related party fees and expenses	1,524,232	1,918,852
Dealer Manager Fees | Managing Dealer /Placement Agent
Related Party Transaction [Line Items]
Related party fees and expenses	820,985	1,256,229
Distribution and shareholder servicing fees | Managing Dealer /Placement Agent
Related Party Transaction [Line Items]
Related party fees and expenses	396,774	165,012
Organization and offering reimbursement | Manager and Sub-Manager
Related Party Transaction [Line Items]
Related party fees and expenses	2,490,377	1,142,237
Base management fees | Manager and Sub-Manager
Related Party Transaction [Line Items]
Related party fees and expenses	4,845,052	2,596,842
Return incentive fees | Manager and Sub-Manager
Related Party Transaction [Line Items]
Related party fees and expenses	7,282,840	4,150,562
Expense Support and Conditional Reimbursement Agreement: Expense support
Related Party Transaction [Line Items]
Reimbursement of expense support	1,830,920	0
Expense Support and Conditional Reimbursement Agreement: Expense support | Manager and Sub-Manager
Related Party Transaction [Line Items]
Related party fees and expenses	0	(3,301,473)
Reimbursement of third party operating expenses | Manager
Related Party Transaction [Line Items]
Related party fees and expenses	104,195	191,070
Reimbursement of third party pursuit costs | Sub-Manager
Related Party Transaction [Line Items]
Related party fees and expenses	$ 651,362	$ 154,727

Related Party Transactions - Am

Related Party Transactions - Amounts Due from (to) Related Parties (Detail) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Due from related parties	$ 0	$ 3,301,473
Due to related parties	(9,921,526)	(4,777,931)
Net due to related parties	(9,921,526)	(1,476,458)
Expense Support
Related Party Transaction [Line Items]
Due from related parties	0	3,301,473
Total return incentive fees
Related Party Transaction [Line Items]
Due to related parties	(7,282,840)	(4,150,562)
Reimbursement of expense support
Related Party Transaction [Line Items]
Due to related parties	(1,830,920)	0
Base management fees
Related Party Transaction [Line Items]
Due to related parties	(577,538)	(271,983)
Organization and offering expenses
Related Party Transaction [Line Items]
Due to related parties	(175,749)	(122,779)
Distribution and shareholder servicing fees
Related Party Transaction [Line Items]
Due to related parties	(53,149)	(19,814)
Reimbursement of third-party operating expenses and pursuit costs
Related Party Transaction [Line Items]
Due to related parties	$ (1,330)	$ (212,793)

Distributions - Declared (Detai

Distributions - Declared (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Distributions Made to Members or Limited Partners [Abstract]
Distributions Declared	$ 15,489,084	$ 9,929,353
Distributions Reinvested	4,428,799	2,240,547
Cash Distributions Net of Distributions Reinvested	$ 11,060,285	$ 7,688,806

Distributions - Distribution Pe

Distributions - Distribution Per Class (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Class FA
Distribution Made to Limited Liability Company (LLC) Member [Line Items]
Declared distribution (in dollars per share)	$ 0.104167	$ 0.104167
Class A
Distribution Made to Limited Liability Company (LLC) Member [Line Items]
Declared distribution (in dollars per share)	0.104167	0.104167
Class T
Distribution Made to Limited Liability Company (LLC) Member [Line Items]
Declared distribution (in dollars per share)	0.083333	0.083333
Class D
Distribution Made to Limited Liability Company (LLC) Member [Line Items]
Declared distribution (in dollars per share)	0.093750	0.093750
Class I
Distribution Made to Limited Liability Company (LLC) Member [Line Items]
Declared distribution (in dollars per share)	$ 0.104167	0.104167
Class S
Distribution Made to Limited Liability Company (LLC) Member [Line Items]
Declared distribution (in dollars per share)		$ 0.104167

Distributions - Declared on GAA

Distributions - Declared on GAAP Basis (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Distribution Made to Limited Liability Company (LLC) Member [Line Items]
Amount	$ 15,489,084	$ 9,929,353
% of Cash Distributions Declared	100.00%	100.00%
Expense support received	$ 0	$ 3,301,473
Net Investment Income
Distribution Made to Limited Liability Company (LLC) Member [Line Items]
Amount	$ 10,092,849	$ 7,493,472
% of Cash Distributions Declared	65.20%	75.50%
Expense support received	$ (1,830,920)	$ 3,301,473
Distributions in excess of net investment income
Distribution Made to Limited Liability Company (LLC) Member [Line Items]
Amount	$ 5,396,235	$ 2,435,881
% of Cash Distributions Declared	34.80%	24.50%

Distributions - Additional Info

Distributions - Additional Information (Detail) - $ / shares	Apr. 28, 2022	Mar. 30, 2022	Feb. 25, 2022	Jan. 28, 2022	Dec. 31, 2021	Dec. 31, 2020
Class FA
Distribution Made to Limited Liability Company (LLC) Member [Line Items]
Declared distribution (in dollars per share)					$ 0.104167	$ 0.104167
Class FA | Subsequent Event
Distribution Made to Limited Liability Company (LLC) Member [Line Items]
Declared distribution (in dollars per share)	$ 0.104167	$ 0.104167	$ 0.104167	$ 0.104167
Class A
Distribution Made to Limited Liability Company (LLC) Member [Line Items]
Declared distribution (in dollars per share)					0.104167	0.104167
Class A | Subsequent Event
Distribution Made to Limited Liability Company (LLC) Member [Line Items]
Declared distribution (in dollars per share)	0.104167	0.104167	0.104167	0.104167
Class T
Distribution Made to Limited Liability Company (LLC) Member [Line Items]
Declared distribution (in dollars per share)					0.083333	0.083333
Class T | Subsequent Event
Distribution Made to Limited Liability Company (LLC) Member [Line Items]
Declared distribution (in dollars per share)	0.083333	0.083333	0.083333	0.083333
Class D
Distribution Made to Limited Liability Company (LLC) Member [Line Items]
Declared distribution (in dollars per share)					0.093750	0.093750
Class D | Subsequent Event
Distribution Made to Limited Liability Company (LLC) Member [Line Items]
Declared distribution (in dollars per share)	0.093750	0.093750	0.093750	0.093750
Class I
Distribution Made to Limited Liability Company (LLC) Member [Line Items]
Declared distribution (in dollars per share)					$ 0.104167	0.104167
Class I | Subsequent Event
Distribution Made to Limited Liability Company (LLC) Member [Line Items]
Declared distribution (in dollars per share)	0.104167	0.104167	0.104167	0.104167
Class S
Distribution Made to Limited Liability Company (LLC) Member [Line Items]
Declared distribution (in dollars per share)						$ 0.104167
Class S | Subsequent Event
Distribution Made to Limited Liability Company (LLC) Member [Line Items]
Declared distribution (in dollars per share)	$ 0.104167	$ 0.104167	$ 0.104167	$ 0.104167

Capital Transactions -Additiona

Capital Transactions -Additional Information (Detail)	Mar. 07, 2018USD ($)	Dec. 31, 2020USD ($)shares	Jan. 31, 2020USD ($)	Jun. 30, 2019USD ($)	Apr. 30, 2019USD ($)	Dec. 31, 2019USD ($)shares	Dec. 31, 2021USD ($)classportfolioCompany$ / sharesshares	Dec. 31, 2020USD ($)shares	Dec. 31, 2019	Dec. 31, 2020USD ($)shares	Dec. 31, 2020USD ($)offering
Investment Company, Capital Share Transactions [Line Items]
Number classes of shares | portfolioCompany							4
Authorized amount per quarter (in percent)							2.50%
Authorized amount per year (in percent)							10.00%
Repurchase of common shares pursuant to share repurchase program							$ 3,290,868	$ 9,646,917
Amount of share requested to be repurchased in excess of proceeds received from its distribution reinvestment plan								7,800,000
Payable for shares repurchased		$ 1,968,732					$ 508,770	$ 1,968,732		$ 1,968,732	$ 1,968,732
Proceeds from Public Offering
Investment Company, Capital Share Transactions [Line Items]
Shares offered	$ 1,000,000,000
Number classes of shares | class							4
Sale of stock offering, minimum requirement	$ 5,000
Shares Issued | shares							5,324,390	4,367,120
2019 Private Placement and Follow On Private Placement
Investment Company, Capital Share Transactions [Line Items]
Shares offered				$ 50,000,000	$ 50,000,000
Distribution Reinvestment Plan
Investment Company, Capital Share Transactions [Line Items]
Shares offered							$ 100,000,000
Follow On Private Placement
Investment Company, Capital Share Transactions [Line Items]
Gross Proceeds										$ 8,000,000
Shares Issued | shares										300,000
Class S Private Offering
Investment Company, Capital Share Transactions [Line Items]
Shares offered			$ 50,000,000
Gross Proceeds		$ 52,000,000
Shares Issued | shares		1,800,000
Private Placements
Investment Company, Capital Share Transactions [Line Items]
Number Of Private Offerings | offering											4
Gross Proceeds											$ 177,000,000
2019 Private Offering
Investment Company, Capital Share Transactions [Line Items]
Gross Proceeds						$ 35,000,000
Shares Issued | shares						1,300,000
Class FA
Investment Company, Capital Share Transactions [Line Items]
Repurchase of common shares pursuant to share repurchase program							$ 630,608	$ 7,037,470
Class FA | Follow On Private Placement
Investment Company, Capital Share Transactions [Line Items]
Placement agent fee on share sold percentage							3.00%		3.00%
Selling commission on share sold percentage						5.50%	5.50%		5.50%
Class FA | 2019 Private Offering
Investment Company, Capital Share Transactions [Line Items]
Shares Issued | shares								300,000
Class A
Investment Company, Capital Share Transactions [Line Items]
Repurchase of common shares pursuant to share repurchase program							$ 627,150	$ 123,038
Class A | Proceeds from Public Offering
Investment Company, Capital Share Transactions [Line Items]
Share price (usd per share) | $ / shares							$ 33.83
Class T
Investment Company, Capital Share Transactions [Line Items]
Repurchase of common shares pursuant to share repurchase program							$ 574,225	721,226
Class T | Proceeds from Public Offering
Investment Company, Capital Share Transactions [Line Items]
Share price (usd per share) | $ / shares							$ 32.20
Class D
Investment Company, Capital Share Transactions [Line Items]
Repurchase of common shares pursuant to share repurchase program							$ 198,484	32,212
Class D | Proceeds from Public Offering
Investment Company, Capital Share Transactions [Line Items]
Share price (usd per share) | $ / shares							$ 30.34
Class I
Investment Company, Capital Share Transactions [Line Items]
Repurchase of common shares pursuant to share repurchase program							$ 1,118,904	1,732,971
Class I | Proceeds from Public Offering
Investment Company, Capital Share Transactions [Line Items]
Share price (usd per share) | $ / shares							$ 31.34
Class S
Investment Company, Capital Share Transactions [Line Items]
Repurchase of common shares pursuant to share repurchase program							$ 141,497	$ 0
Class S | Class S Private Offering
Investment Company, Capital Share Transactions [Line Items]
Placement agent fee on share sold percentage							1.50%	1.50%
Selling commission on share sold percentage		2.00%					2.00%	2.00%		2.00%	2.00%

Capital Transactions - Summary

Capital Transactions - Summary of Shares Issued and Proceeds Received in Connection with Private Placement (Detail) - USD ($)	9 Months Ended	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2021	Dec. 31, 2020
Investment Company, Capital Share Transactions [Line Items]
Proceeds to Company		$ 4,174,382	$ 2,109,793
Shares		5,461,821	4,444,642
Net Proceeds to Company		$ 167,140,551
Average Net Proceeds per Share		$ 30.60	$ 27.95
Public Offering and Private Placement
Investment Company, Capital Share Transactions [Line Items]
Shares Issued			4,367,120
Gross Proceeds			$ 125,275,212
Sales Load			(3,175,081)
Net Proceeds to Company			122,100,131
Net Proceeds to Company			$ 124,209,924
Distribution Reinvestment Plan
Investment Company, Capital Share Transactions [Line Items]
Shares		137,431	77,522
Proceeds to Company		$ 4,174,382	$ 2,109,793
Initial Public Offering
Investment Company, Capital Share Transactions [Line Items]
Shares Issued		5,324,390
Gross Proceeds		$ 165,311,386
Sales Load		(2,345,217)
Net Proceeds to Company		$ 162,966,169
2019 Private Offering
Investment Company, Capital Share Transactions [Line Items]
Shares Issued	1,300,000
Gross Proceeds	$ 35,000,000
Class FA
Investment Company, Capital Share Transactions [Line Items]
Shares			569,642
Net Proceeds to Company			$ 15,685,040
Average Net Proceeds per Share			$ 27.53
Class FA | Private Placement
Investment Company, Capital Share Transactions [Line Items]
Shares Issued			569,642
Gross Proceeds			$ 15,853,000
Sales Load			(167,960)
Net Proceeds to Company			$ 15,685,040
Class FA | Distribution Reinvestment Plan
Investment Company, Capital Share Transactions [Line Items]
Shares			0
Proceeds to Company			$ 0
Class FA | 2019 Private Offering
Investment Company, Capital Share Transactions [Line Items]
Shares Issued			300,000
Class A
Investment Company, Capital Share Transactions [Line Items]
Shares		447,011	369,816
Net Proceeds to Company		$ 13,559,354	$ 10,091,122
Average Net Proceeds per Share		$ 30.33	$ 27.29
Class A | Distribution Reinvestment Plan
Investment Company, Capital Share Transactions [Line Items]
Shares		43,744	35,376
Proceeds to Company		$ 1,322,539	$ 961,623
Class A | Initial Public Offering
Investment Company, Capital Share Transactions [Line Items]
Shares Issued		403,267	334,440
Gross Proceeds		$ 13,195,644	$ 9,808,964
Sales Load		(958,829)	(679,465)
Net Proceeds to Company		$ 12,236,815	$ 9,129,499
Class T
Investment Company, Capital Share Transactions [Line Items]
Shares		973,574	481,784
Net Proceeds to Company		$ 29,610,528	$ 13,075,429
Average Net Proceeds per Share		$ 30.41	$ 27.14
Class T | Distribution Reinvestment Plan
Investment Company, Capital Share Transactions [Line Items]
Shares		19,417	8,440
Proceeds to Company		$ 585,294	$ 229,816
Class T | Initial Public Offering
Investment Company, Capital Share Transactions [Line Items]
Shares Issued		954,157	473,344
Gross Proceeds		$ 30,411,622	$ 13,486,208
Sales Load		(1,386,388)	(640,595)
Net Proceeds to Company		$ 29,025,234	$ 12,845,613
Class D
Investment Company, Capital Share Transactions [Line Items]
Shares		561,606	152,248
Net Proceeds to Company		$ 16,883,239	$ 4,118,666
Average Net Proceeds per Share		$ 30.06	$ 27.05
Class D | Distribution Reinvestment Plan
Investment Company, Capital Share Transactions [Line Items]
Shares		13,798	9,174
Proceeds to Company		$ 409,939	$ 245,006
Class D | Initial Public Offering
Investment Company, Capital Share Transactions [Line Items]
Shares Issued		547,808	143,074
Gross Proceeds		$ 16,473,300	$ 3,873,660
Sales Load		0	0
Net Proceeds to Company		$ 16,473,300	$ 3,873,660
Class I
Investment Company, Capital Share Transactions [Line Items]
Shares		3,479,630	1,100,766
Net Proceeds to Company		$ 107,087,430	$ 30,567,081
Average Net Proceeds per Share		$ 30.78	$ 27.77
Class I | Distribution Reinvestment Plan
Investment Company, Capital Share Transactions [Line Items]
Shares		60,472	24,532
Proceeds to Company		$ 1,856,610	$ 673,348
Class I | Initial Public Offering
Investment Company, Capital Share Transactions [Line Items]
Shares Issued		3,419,158	1,076,234
Gross Proceeds		$ 105,230,820	$ 29,893,733
Sales Load		0	0
Net Proceeds to Company		$ 105,230,820	$ 29,893,733
Class S
Investment Company, Capital Share Transactions [Line Items]
Shares			1,770,386
Net Proceeds to Company			$ 50,672,586
Average Net Proceeds per Share			$ 28.62
Class S | Private Placement
Investment Company, Capital Share Transactions [Line Items]
Shares Issued			1,770,386
Gross Proceeds			$ 52,359,647
Sales Load			(1,687,061)
Net Proceeds to Company			$ 50,672,586
Class S | Distribution Reinvestment Plan
Investment Company, Capital Share Transactions [Line Items]
Shares			0
Proceeds to Company			$ 0

Capital Transactions Capital Tr

Capital Transactions Capital Transactions - Summary of Shares Repurchased (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Equity, Class of Treasury Stock [Line Items]
Number of Shares	107,038	341,225
Total Consideration	$ 3,290,868	$ 9,646,917
Average Price Paid per Share	$ 30.74	$ 28.27
Class FA
Equity, Class of Treasury Stock [Line Items]
Number of Shares	19,637	246,653
Total Consideration	$ 630,608	$ 7,037,470
Average Price Paid per Share	$ 32.11	$ 28.53
Class A
Equity, Class of Treasury Stock [Line Items]
Number of Shares	20,876	4,580
Total Consideration	$ 627,150	$ 123,038
Average Price Paid per Share	$ 30.04	$ 26.86
Class T
Equity, Class of Treasury Stock [Line Items]
Number of Shares	19,158	25,774
Total Consideration	$ 574,225	$ 721,226
Average Price Paid per Share	$ 29.97	$ 27.98
Class D
Equity, Class of Treasury Stock [Line Items]
Number of Shares	6,711	1,156
Total Consideration	$ 198,484	$ 32,212
Average Price Paid per Share	$ 29.58	$ 27.85
Class I
Equity, Class of Treasury Stock [Line Items]
Number of Shares	36,349	63,062
Total Consideration	$ 1,118,904	$ 1,732,971
Average Price Paid per Share	$ 30.78	$ 27.48
Class S
Equity, Class of Treasury Stock [Line Items]
Number of Shares	4,307	0
Total Consideration	$ 141,497	$ 0
Average Price Paid per Share	$ 32.85	$ 0

Borrowings (Details)

Borrowings (Details) - Line of Credit - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Sep. 30, 2021
Line of Credit Facility [Line Items]
Line of credit amount			$ 25,000,000
Commitment fee	$ 15,000	$ 60,000
Fee required on each borrowing	0.05%
Maximum fee	$ 20,000
Maximum fee term limitation	364 days
Line of Credit Minimum Interest Rate	3.00%
Compensating Balance, Amount	$ 2,500,000
Minimum
Line of Credit Facility [Line Items]
Debt Instrument, Term	60 days
Maximum
Line of Credit Facility [Line Items]
Debt Instrument, Term	180 days
LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.75%

Income Taxes - Components of In

Income Taxes - Components of Income Tax Expense (Benefit) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Current:
Federal	$ 1,315,437	$ 0
State	314,793	0
Total current tax expense	1,630,230	0
Deferred:
Federal	1,135,464	220,097
State	474,610	46,692
Total deferred tax expense	1,610,074	266,789
Income tax expense	$ 3,240,304	$ 266,789

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Carryforwards for net operating loss	$ 532,822	$ 248,641
Other	18,120	0
Valuation Allowance	(21,899)	0
Total deferred tax assets	529,043	248,641
Deferred tax liabilities:
Unrealized appreciation on investments	(2,405,906)	(515,430)
Total deferred tax liabilities	(2,405,906)	(515,430)
Deferred tax liabilities, net	$ (1,876,863)	$ (266,789)

Income Taxes - Reconciliation t

Income Taxes - Reconciliation to Statutory Rate (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Tax expense computed at the federal statutory rate	$ 9,707,417	$ 6,365,762
Tax expense computed at federal statutory rate (in percent)	21.00%	21.00%
State income tax expense net of federal benefit	$ 789,404	$ 73,491
State income tax expense net of federal benefit (in percent)	1.70%	0.20%
Benefit of partnership structure	$ 7,256,517	$ 6,172,464
Benefit of partnership structure (in percent)	15.70%	20.30%
Income tax expense	$ 3,240,304	$ 266,789
Income tax expense (in percent)	7.00%	0.90%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 0.9	$ 0.9

Financial Highlights - Schedule

Financial Highlights - Schedule of Financial Highlights (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2021		Dec. 31, 2020		Dec. 31, 2019
Investment Company, Financial Highlights [Roll Forward]
Net investment income (usd per share)	$ 0.79		$ 0.93
Net assets at end of period	$ 500,308,997	[1],[2]	$ 308,962,908	[3],[4]	$ 174,282,891
Distributions declared	$ 15,489,084		$ 9,929,353
Class FA
Investment Company, Financial Highlights [Roll Forward]
Net Asset Value, Beginning of Period (usd per shares)	$ 29.97		$ 27.64
Net investment income, before expense support (usd per shares)	1.33		0.79
Reimbursements of expense support (usd per share)	(0.21)		0.35
Net investment income (usd per share)	1.12		1.14
Net realized and unrealized gains (usd per shares)	2.78		2.44
Net increase resulting from investment operations (usd per shares)	3.90		3.58
Distributions to shareholders (usd per share)	(1.25)		(1.25)
Net decrease resulting from distributions to shareholders (usd per shares)	(1.25)		(1.25)
Net Asset Value, End of Period (usd per shares)	$ 32.62		$ 29.97
Net assets at end of period	$ 148,716,308		$ 137,237,594
Average net assets	$ 145,353,000		$ 130,940,000
Shares outstanding end of period (in shares)	4,559,000		4,579,000
Distributions declared	$ 5,714,000		$ 5,812,000
Total investment return based on net asset value before total return incentive fee	14.55%		13.27%
Total investment return based on net asset value after total return incentive fee	12.92%		13.16%
Ratios to average net assets:
Total operating expenses before total return incentive fee and expense support	1.41%		1.81%
Total operating expenses before expense support	2.77%		3.10%
Total operating expenses after expense support	3.44%		1.85%
Net investment income before total return incentive fee	4.88%		4.09%
Net investment income	3.52%		4.05%
Total investment return based on net asset value after total return incentive fee			97.00%
Class A
Investment Company, Financial Highlights [Roll Forward]
Net Asset Value, Beginning of Period (usd per shares)	$ 28.76		$ 26.91
Net investment income, before expense support (usd per shares)	0.65		0.10
Reimbursements of expense support (usd per share)	(0.19)		0.53
Net investment income (usd per share)	0.46		0.63
Net realized and unrealized gains (usd per shares)	2.81		2.47
Net increase resulting from investment operations (usd per shares)	3.27		3.10
Distributions to shareholders (usd per share)	(1.25)		(1.25)
Net decrease resulting from distributions to shareholders (usd per shares)	(1.25)		(1.25)
Net Asset Value, End of Period (usd per shares)	$ 30.78		$ 28.76
Net assets at end of period	$ 44,957,765		$ 29,747,587
Average net assets	$ 37,354,000		$ 22,984,000
Shares outstanding end of period (in shares)	1,461,000		1,034,000
Distributions declared	$ 1,531,000		$ 1,052,000
Total investment return based on net asset value before total return incentive fee	13.88%		12.43%
Total investment return based on net asset value after total return incentive fee	11.53%		11.89%
Ratios to average net assets:
Total operating expenses before total return incentive fee and expense support	2.97%		3.51%
Total operating expenses before expense support	5.52%		6.09%
Total operating expenses after expense support	6.13%		4.14%
Net investment income before total return incentive fee	4.06%		2.96%
Net investment income	1.52%		2.32%
Total investment return based on net asset value after total return incentive fee			75.00%
Class T
Investment Company, Financial Highlights [Roll Forward]
Net Asset Value, Beginning of Period (usd per shares)	$ 28.67		$ 27.01
Net investment income, before expense support (usd per shares)	0.39		(0.33)
Reimbursements of expense support (usd per share)	(0.21)		0.47
Net investment income (usd per share)	0.18		0.14
Net realized and unrealized gains (usd per shares)	2.81		2.52
Net increase resulting from investment operations (usd per shares)	2.99		2.66
Distributions to shareholders (usd per share)	(1)		(1)
Net decrease resulting from distributions to shareholders (usd per shares)	(1)		(1)
Net Asset Value, End of Period (usd per shares)	$ 30.66		$ 28.67
Net assets at end of period	$ 49,328,483		$ 18,771,713
Average net assets	$ 30,486,000		$ 11,991,000
Shares outstanding end of period (in shares)	1,609,000		655,000
Distributions declared	$ 1,000,000		$ 436,000
Total investment return based on net asset value before total return incentive fee	11.96%		10.79%
Total investment return based on net asset value after total return incentive fee	10.55%		10.11%
Ratios to average net assets:
Total operating expenses before total return incentive fee and expense support	4.93%		5.54%
Total operating expenses before expense support	6.99%		8.21%
Total operating expenses after expense support	7.70%		6.49%
Net investment income before total return incentive fee	2.65%		1.46%
Net investment income	0.59%		0.51%
Total investment return based on net asset value after total return incentive fee			64.00%
Class D
Investment Company, Financial Highlights [Roll Forward]
Net Asset Value, Beginning of Period (usd per shares)	$ 28.24		$ 26.61
Net investment income, before expense support (usd per shares)	0.58		0.03
Reimbursements of expense support (usd per share)	(0.14)		0.26
Net investment income (usd per share)	0.44		0.29
Net realized and unrealized gains (usd per shares)	2.80		2.47
Net increase resulting from investment operations (usd per shares)	3.24		2.76
Distributions to shareholders (usd per share)	(1.13)		(1.13)
Net decrease resulting from distributions to shareholders (usd per shares)	(1.13)		(1.13)
Net Asset Value, End of Period (usd per shares)	$ 30.35		$ 28.24
Net assets at end of period	$ 30,606,947		$ 12,813,290
Average net assets	$ 20,335,000		$ 9,675,000
Shares outstanding end of period (in shares)	1,009,000		454,000
Distributions declared	$ 760,000		$ 405,000
Total investment return based on net asset value before total return incentive fee	13.31%		11.99%
Total investment return based on net asset value after total return incentive fee	11.61%		10.67%
Ratios to average net assets:
Total operating expenses before total return incentive fee and expense support	4.16%		3.93%
Total operating expenses before expense support	6.45%		6.48%
Total operating expenses after expense support	6.91%		5.52%
Net investment income before total return incentive fee	3.77%		2.67%
Net investment income	1.48%		1.08%
Total investment return based on net asset value after total return incentive fee			38.00%
Class I
Investment Company, Financial Highlights [Roll Forward]
Net Asset Value, Beginning of Period (usd per shares)	$ 29.06		$ 27.15
Net investment income, before expense support (usd per shares)	0.60		0.02
Reimbursements of expense support (usd per share)	(0.09)		0.66
Net investment income (usd per share)	0.51		0.68
Net realized and unrealized gains (usd per shares)	2.86		2.48
Net increase resulting from investment operations (usd per shares)	3.37		3.16
Distributions to shareholders (usd per share)	(1.25)		(1.25)
Net decrease resulting from distributions to shareholders (usd per shares)	(1.25)		(1.25)
Net Asset Value, End of Period (usd per shares)	$ 31.18		$ 29.06
Net assets at end of period	$ 168,704,080		$ 57,147,617
Average net assets	$ 106,275,000		$ 35,672,000
Shares outstanding end of period (in shares)	5,410,000		1,967,000
Distributions declared	$ 4,271,000		$ 1,610,000
Total investment return based on net asset value before total return incentive fee	13.39%		12.23%
Total investment return based on net asset value after total return incentive fee	11.76%		12.01%
Ratios to average net assets:
Total operating expenses before total return incentive fee and expense support	3.93%		4.02%
Total operating expenses before expense support	6.25%		6.72%
Total operating expenses after expense support	6.55%		4.34%
Net investment income before total return incentive fee	3.97%		2.78%
Net investment income	1.65%		2.46%
Total investment return based on net asset value after total return incentive fee			88.00%
Class S
Investment Company, Financial Highlights [Roll Forward]
Net Asset Value, Beginning of Period (usd per shares)	$ 30.08		$ 27.56
Net investment income, before expense support (usd per shares)	1.23		0.82
Reimbursements of expense support (usd per share)	0		0.10
Net investment income (usd per share)	1.23		0.92
Net realized and unrealized gains (usd per shares)	2.78		2.64
Net increase resulting from investment operations (usd per shares)	4.01		3.56
Distributions to shareholders (usd per share)	(1.25)		(1.04)
Net decrease resulting from distributions to shareholders (usd per shares)	(1.25)		(1.04)
Net Asset Value, End of Period (usd per shares)	$ 32.84		$ 30.08
Net assets at end of period	$ 57,995,414		$ 53,245,107
Average net assets	$ 56,575,000		$ 19,257,000
Shares outstanding end of period (in shares)	1,766,000		1,770,000
Distributions declared	$ 2,213,000		$ 615,000
Total investment return based on net asset value before total return incentive fee	15.07%		13.36%
Total investment return based on net asset value after total return incentive fee	13.54%		12.80%
Ratios to average net assets:
Total operating expenses before total return incentive fee and expense support	1.67%		2.35%
Total operating expenses before expense support	3.07%		4.15%
Total operating expenses after expense support	3.07%		3.79%
Net investment income before total return incentive fee	5.26%		4.66%
Net investment income	3.86%		3.17%
Total investment return based on net asset value after total return incentive fee			20.00%
[1]	Percentages represent fair value as a percentage of net assets for each investment category.
[2]	Security may be an obligation of one or more entities affiliated with the named company.
[3]	Percentages represent fair value as a percentage of net assets for each investment category.
[4]	Security may be an obligation of one or more entities affiliated with the named company.

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($)	Apr. 28, 2022	Mar. 30, 2022	Feb. 25, 2022	Jan. 28, 2022	Feb. 28, 2022	Dec. 31, 2021	Dec. 31, 2020
Subsequent Event [Line Items]
Purchases of investments						$ 192,759,287	$ 64,182,774
Class FA
Subsequent Event [Line Items]
Declared distribution (in dollars per share)						$ 0.104167	$ 0.104167
Class A
Subsequent Event [Line Items]
Declared distribution (in dollars per share)						0.104167	0.104167
Class T
Subsequent Event [Line Items]
Declared distribution (in dollars per share)						0.083333	0.083333
Class D
Subsequent Event [Line Items]
Declared distribution (in dollars per share)						0.093750	0.093750
Class I
Subsequent Event [Line Items]
Declared distribution (in dollars per share)						$ 0.104167	0.104167
Class S
Subsequent Event [Line Items]
Declared distribution (in dollars per share)							$ 0.104167
Subsequent Event | ATA
Subsequent Event [Line Items]
Payments to Acquire Equity Method Investments					$ 1,100,000
Subsequent Event | Class FA
Subsequent Event [Line Items]
Declared distribution (in dollars per share)	$ 0.104167	$ 0.104167	$ 0.104167	$ 0.104167
Subsequent Event | Class A
Subsequent Event [Line Items]
Declared distribution (in dollars per share)	0.104167	0.104167	0.104167	0.104167
Subsequent Event | Class T
Subsequent Event [Line Items]
Declared distribution (in dollars per share)	0.083333	0.083333	0.083333	0.083333
Subsequent Event | Class D
Subsequent Event [Line Items]
Declared distribution (in dollars per share)	0.093750	0.093750	0.093750	0.093750
Subsequent Event | Class I
Subsequent Event [Line Items]
Declared distribution (in dollars per share)	0.104167	0.104167	0.104167	0.104167
Subsequent Event | Class S
Subsequent Event [Line Items]
Declared distribution (in dollars per share)	$ 0.104167	$ 0.104167	$ 0.104167	$ 0.104167

Subsequent Events - Summary of

Subsequent Events - Summary of New Public Offering Prices and Applicable Upfront Selling Commissions and Dealer Manager Fees (Detail) - $ / shares	Mar. 24, 2022	Feb. 25, 2022	Jan. 28, 2022	Mar. 28, 2022	Dec. 31, 2021	Dec. 31, 2020
Subsequent Event [Line Items]
Public Offering Price, Per Share (in dollars per share)					$ 30.60	$ 27.95
Class A
Subsequent Event [Line Items]
Public Offering Price, Per Share (in dollars per share)					30.33	27.29
Class T
Subsequent Event [Line Items]
Public Offering Price, Per Share (in dollars per share)					30.41	27.14
Class D
Subsequent Event [Line Items]
Public Offering Price, Per Share (in dollars per share)					30.06	27.05
Class I
Subsequent Event [Line Items]
Public Offering Price, Per Share (in dollars per share)					$ 30.78	$ 27.77
Subsequent Event
Subsequent Event [Line Items]
Public Offering Price, Per Share (in dollars per share)				$ 31.15
Subsequent Event | Class A
Subsequent Event [Line Items]
Public Offering Price, Per Share (in dollars per share)	$ 33.97	$ 33.98	$ 33.64	30.99
Selling Commissions, Per Share (in dollars per share)	2.04	2.04	2.02
Dealer Manager Fees, Per Share (in dollars per share)	0.85	0.85	0.84
Subsequent Event | Class T
Subsequent Event [Line Items]
Public Offering Price, Per Share (in dollars per share)	32.44	32.48	32.19	30.80
Selling Commissions, Per Share (in dollars per share)	0.97	0.97	0.97
Dealer Manager Fees, Per Share (in dollars per share)	0.57	0.57	0.56
Subsequent Event | Class D
Subsequent Event [Line Items]
Public Offering Price, Per Share (in dollars per share)	30.62	30.65	30.35	30.54
Selling Commissions, Per Share (in dollars per share)	0	0	0
Dealer Manager Fees, Per Share (in dollars per share)	0	0	0
Subsequent Event | Class I
Subsequent Event [Line Items]
Public Offering Price, Per Share (in dollars per share)	31.49	31.50	31.18	$ 31.31
Selling Commissions, Per Share (in dollars per share)	0	0	0
Dealer Manager Fees, Per Share (in dollars per share)	$ 0	$ 0	$ 0

Subsequent Events - Gross Proce

Subsequent Events - Gross Proceeds (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 28, 2022	Dec. 31, 2021	Dec. 31, 2020	Mar. 24, 2022	Feb. 25, 2022	Jan. 28, 2022
Subsequent Event [Line Items]
Shares (in shares)		5,461,821	4,444,642
Net Proceeds to Company		$ 167,140,551
Average Net Proceeds Per Share (in dollars per share)		$ 30.60	$ 27.95
Proceeds from Public Offering
Subsequent Event [Line Items]
Shares (in shares)		5,324,390	4,367,120
Class A
Subsequent Event [Line Items]
Shares (in shares)		447,011	369,816
Net Proceeds to Company		$ 13,559,354	$ 10,091,122
Average Net Proceeds Per Share (in dollars per share)		$ 30.33	$ 27.29
Class T
Subsequent Event [Line Items]
Shares (in shares)		973,574	481,784
Net Proceeds to Company		$ 29,610,528	$ 13,075,429
Average Net Proceeds Per Share (in dollars per share)		$ 30.41	$ 27.14
Class D
Subsequent Event [Line Items]
Shares (in shares)		561,606	152,248
Net Proceeds to Company		$ 16,883,239	$ 4,118,666
Average Net Proceeds Per Share (in dollars per share)		$ 30.06	$ 27.05
Class I
Subsequent Event [Line Items]
Shares (in shares)		3,479,630	1,100,766
Net Proceeds to Company		$ 107,087,430	$ 30,567,081
Average Net Proceeds Per Share (in dollars per share)		$ 30.78	$ 27.77
Subsequent Event
Subsequent Event [Line Items]
Shares (in shares)	755,621
Net Proceeds to Company	$ 23,540,985
Average Net Proceeds Per Share (in dollars per share)	$ 31.15
Subsequent Event | Proceeds from Public Offering
Subsequent Event [Line Items]
Shares (in shares)	706,633
Gross Proceeds	$ 22,313,999
Sales Load	(294,467)
Net Proceeds to Company	$ 22,019,532
Subsequent Event | Distribution Reinvestment Plan
Subsequent Event [Line Items]
Shares (in shares)	48,988
Gross Proceeds	$ 1,521,453
Subsequent Event | Class A
Subsequent Event [Line Items]
Shares (in shares)	112,981
Net Proceeds to Company	$ 3,501,314
Average Net Proceeds Per Share (in dollars per share)	$ 30.99			$ 33.97	$ 33.98	$ 33.64
Subsequent Event | Class A | Proceeds from Public Offering
Subsequent Event [Line Items]
Shares (in shares)	102,283
Gross Proceeds	$ 3,404,361
Sales Load	(234,035)
Net Proceeds to Company	$ 3,170,326
Subsequent Event | Class A | Distribution Reinvestment Plan
Subsequent Event [Line Items]
Shares (in shares)	10,698
Gross Proceeds	$ 330,988
Subsequent Event | Class T
Subsequent Event [Line Items]
Shares (in shares)	48,735
Net Proceeds to Company	$ 1,500,972
Average Net Proceeds Per Share (in dollars per share)	$ 30.80			32.44	32.48	32.19
Subsequent Event | Class T | Proceeds from Public Offering
Subsequent Event [Line Items]
Shares (in shares)	40,504
Gross Proceeds	$ 1,308,250
Sales Load	(60,432)
Net Proceeds to Company	$ 1,247,818
Subsequent Event | Class T | Distribution Reinvestment Plan
Subsequent Event [Line Items]
Shares (in shares)	8,231
Gross Proceeds	$ 253,154
Subsequent Event | Class D
Subsequent Event [Line Items]
Shares (in shares)	75,550
Net Proceeds to Company	$ 2,307,194
Average Net Proceeds Per Share (in dollars per share)	$ 30.54			30.62	30.65	30.35
Subsequent Event | Class D | Proceeds from Public Offering
Subsequent Event [Line Items]
Shares (in shares)	70,157
Gross Proceeds	$ 2,143,000
Sales Load	0
Net Proceeds to Company	$ 2,143,000
Subsequent Event | Class D | Distribution Reinvestment Plan
Subsequent Event [Line Items]
Shares (in shares)	5,393
Gross Proceeds	$ 164,194
Subsequent Event | Class I
Subsequent Event [Line Items]
Shares (in shares)	518,355
Net Proceeds to Company	$ 16,231,505
Average Net Proceeds Per Share (in dollars per share)	$ 31.31			$ 31.49	$ 31.50	$ 31.18
Subsequent Event | Class I | Proceeds from Public Offering
Subsequent Event [Line Items]
Shares (in shares)	493,689
Gross Proceeds	$ 15,458,388
Sales Load	0
Net Proceeds to Company	$ 15,458,388
Subsequent Event | Class I | Distribution Reinvestment Plan
Subsequent Event [Line Items]
Shares (in shares)	24,666
Gross Proceeds	$ 773,117