BC Partners Lending (BCPL) 10-K 12 Mar 24 2023 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Mar. 08, 2024
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Registrant Name	BC Partners Lending Corporation
Entity Central Index Key	0001726548
Document Annual Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Entity File Number	814-01269
Entity Tax Identification Number	82-4654271
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Incorporation, State or Country Code	MD
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Entity Address, Address Line One	650 Madison Avenue
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10022
City Area Code	212
Local Phone Number	891-2880
Title of 12(b) Security	None
No Trading Symbol Flag	true
Entity Public Float	$ 0
Entity Common Stock, Shares Outstanding		3,036,711
Auditor Firm ID	34
Auditor Name	Deloitte & Touche LLP
Auditor Location	New York, New York
Documents Incorporated by Reference [Text Block]	Documents Incorporated by Reference Portions of the registrant's definitive Proxy Statement relating to the registrant's 2024 Annual Meeting of Stockholders, to be filed with the U.S. Securities and Exchange Commission within 120 days following the end of the registrant's fiscal year, are incorporated by reference in Part III of this Annual Report on Form 10-K as indicated herein.

Consolidated Statements of Asse

Consolidated Statements of Assets and Liabilities - USD ($) $ in Thousands		Dec. 31, 2023	Dec. 31, 2022
Assets
Investments at fair value		$ 133,675	$ 100,417
Forward contracts, at fair value (cost of $0 and $0, respectively)		0	55
Cash and cash equivalents		1,268	570
Restricted cash		5,672	7,379
Receivable for unsettled trades		284	4
Interest and dividends receivable		1,630	1,029
Prepaid expenses		58	19
Total assets		142,587	109,473
Liabilities
Credit facility (net of deferred financing costs of $663 and $772, respectively)		70,337	57,228
Payable for unsettled trades		283	0
Due to affiliate		481	2,029
Management fees payable		344	247
Incentive fees payable		348	206
Interest expense payable		1,212	748
Directors' fees payable		38	75
Accounts payable and accrued expenses		308	168
Distribution payable		1,089	0
Total liabilities		74,440	60,701
Commitments and contingencies (Note 9)
Net Assets
Common stock, $0.001 par value, 1,000,000,000 shares authorized; 3,024,976 and 2,232,134 shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively		3	2
Capital in excess of par		71,964	54,480
Total distributable (loss) earnings		(3,820)	(5,710)
Total net assets		68,147	48,772
Total liabilities and net assets		$ 142,587	$ 109,473
Net asset value per share	[1]	$ 22.53	$ 21.85
Non-control/non-affiliate investments
Assets
Investments at fair value		$ 133,449	$ 100,417
Non-control affiliate investments
Assets
Investments at fair value		$ 226	$ 0
[1] Represents the impact of different share amounts used in calculating per share data as a result of calculating certain per share data based on weighted average shares outstanding during the year or period and certain per share data on shares outstanding as of a year or period end or transaction date.

Consolidated Statements of As_2

Consolidated Statements of Assets and Liabilities (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Amortized cost	$ 135,332	$ 106,156
Deferred financing costs, net	$ 663	$ 772
Common stock, par value	$ 0.001	$ 0.001
Common stock, authorized	1,000,000,000	1,000,000,000
Common stock, issued	3,024,976	2,232,134
Common stock, outstanding	3,024,976	2,232,134
Non-control/non-affiliate investments
Amortized cost	$ 135,108	$ 106,156
Non-control affiliate investments
Amortized cost	224	0
Forward Contracts [Member]
Amortized cost	$ 0	$ 0

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Interest income:
Total interest income	$ 15,807	$ 9,081	$ 7,238
Total fee and other income	480	192	512
Total investment income	16,287	9,273	7,750
Operating expenses:
Organization and offering costs	30	153	12
Management fees	1,237	982	946
Incentive fees	1,142	146	651
Administrative fees	616	507	459
Interest and debt expenses	5,279	2,613	1,632
Audit fees	215	200	203
Legal fees	394	438	458
Professional fees	358	342	161
Directors' fees	150	150	150
Other expenses	312	372	683
Total expenses before expense support	9,733	5,903	5,355
Expense Support Repayment to Related Parties	1,383	827	269
Total expenses	11,116	6,730	5,624
Net investment income	5,171	2,543	2,126
Realized and unrealized gain (loss):
Net realized gain (loss) on investment transactions	(2,094)	(216)	2,081
Derivatives	(55)	2	(66)
Net unrealized gain (loss) on investments	4,027	(6,471)	125
Net realized and unrealized gain (loss)	1,933	(6,687)	2,206
Net increase (decrease) in net assets resulting from operations	$ 7,104	$ (4,144)	$ 4,332
Net investment income per share - basic	$ 1.83	$ 1.32	$ 1.24
Net investment income per share - diluted	1.83	1.32	1.24
Net increase (decrease) in net assets resulting from operations per share - basic	2.52	(2.15)	2.53
Net increase (decrease) in net assets resulting from operations per share - dilluted	$ 2.52	$ (2.15)	$ 2.53
Weighted average shares of common stock outstanding - basic	2,821,046	1,926,620	1,710,840
Weighted average shares of common stock outstanding - diluted	2,821,046	1,926,620	1,710,840
Non-control/non-affiliate investments
Interest income:
Total interest income	$ 15,807	$ 9,081	$ 7,238
Total fee and other income	468	192	512
Realized and unrealized gain (loss):
Net realized gain (loss) on investment transactions	(2,094)	(216)	2,081
Net change in unrealized appreciation (depreciation) on investments	4,078	$ (6,473)	$ 191
Non-control affiliate investments
Interest income:
Total fee and other income	12
Realized and unrealized gain (loss):
Net change in unrealized appreciation (depreciation) on investments	$ 4

Consolidated Statements of Chan

Consolidated Statements of Changes in Net Assets - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Beginning balance				$ 41,119			$ 41,119
Beginning balance, Share					2,232,134
Net investment income	$ 1,973	$ 779	$ 537	515	$ 5,171	$ 2,543	2,126
Net realized gain (loss) on investments					(2,094)	(216)	2,081
Net change in unrealized depreciation/appreciation on investments and derivatives					4,027	(6,471)	125
Issuance of common shares, Value					16,500	10,231	1,620
Distributions declared and payable to stockholders					(5,214)	(2,363)	(4,045)
Stock issued in connection with dividend reinvestment plan					$ 985	$ 1,283	739
Stock issued in connection with dividend reinvestment plan, Share					9,874	19,884
Ending balance	$ 68,147	$ 48,772	43,765		$ 68,147	$ 48,772	43,765
Ending balance, Share	3,024,976	2,232,134			3,024,976	2,232,134
Common Stock [Member]
Beginning balance				$ 2			$ 2
Beginning balance, Share				1,652,799	2,232,134	1,743,393	1,652,799
Issuance of common shares, Share					747,706	437,090	61,738
Issuance of common shares, Value					$ 1
Stock issued in connection with dividend reinvestment plan, Share					45,136	51,651	28,856
Ending balance	$ 3	$ 2	$ 2		$ 3	$ 2	$ 2
Ending balance, Share	3,024,976	2,232,134	1,743,393		3,024,976	2,232,134	1,743,393
Capital in excess of par [Member]
Beginning balance				$ 40,607			$ 40,607
Issuance of common shares, Value					$ 16,499	$ 10,231	1,620
Stock issued in connection with dividend reinvestment plan					985	1,283	739
Ending balance	$ 71,964	$ 54,480	$ 42,966		71,964	54,480	42,966
Total distributable earnings [Member]
Beginning balance				$ 510			510
Net investment income					5,171	2,543	2,126
Net realized gain (loss) on investments					(2,094)	(216)	2,081
Net change in unrealized depreciation/appreciation on investments and derivatives					4,027	(6,471)	125
Distributions declared and payable to stockholders					(5,214)	(2,363)	(4,045)
Ending balance	$ (3,820)	$ (5,710)	$ 797		$ (3,820)	$ (5,710)	$ 797

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating activities:
Net increase (decrease) in net assets resulting from operations	$ 7,104	$ (4,144)	$ 4,332
Adjustments to reconcile net increase (decrease) in net assets from operations to net cash used in operating activities:
Net realized (gain) loss from investments	2,094	216	(2,081)
Net change in unrealized (appreciation) depreciation on investments	(4,082)	6,473	(191)
Net change in unrealized (appreciation) depreciation on derivatives	55	(2)	66
Net accretion of discount on investments	(606)	(298)	(415)
Amortization of deferred financing costs	109	110	104
Payment-in-kind interest income	(599)	(204)	(242)
Sales and repayments of investments	29,508	29,799	117,387
Purchases of investments	(59,573)	(46,809)	(123,901)
(Increase) decrease in operating assets:
Receivable for unsettled trades	(280)	7,074	(2,103)
Interest and dividends receivable	(601)	(262)	(468)
Prepaid expenses	(39)	59	(2)
Increase (decrease) in operating liabilities:
Payable for unsettled trades	283	(10,724)	3,326
Due to affiliate	(1,548)	938	645
Management fees payable	97	7	51
Incentive fees payable	142	(603)	547
Interest expense payable	464	409	112
Directors' fees payable	(37)	37	38
Accounts payable and accrued expenses	140	(150)	(484)
Net cash used in operating activities	(27,369)	(18,074)	(3,279)
Financing activities:
Proceeds from issuance of shares of common stock	16,500	10,231	1,620
Stockholder distributions paid	(3,140)	(2,998)	(1,997)
Proceeds from debt	13,000	3,000	5,000
Payments of financing costs			(256)
Net cash provided by financing activities	26,360	10,233	4,367
Net increase (decrease) in restricted and unrestricted cash	(1,009)	(7,841)	(1,088)
Cash and restricted cash at beginning of year	7,949	15,790	14,702
Cash and restricted cash at end of period	6,940	7,949	15,790
Reconciliation of cash and restricted cash
Cash	1,268	570	1,054
Restricted Cash	5,672	7,379	14,736
Total cash and restricted cash	6,940	7,949	15,790
Supplemental information:
Interest paid during the period	5,634	2,912	1,416
Supplemental disclosure of non-cash information:
Reinvestment of dividends	$ 985	$ 1,283	$ 739

Consolidated Schedule of Invest

Consolidated Schedule of Investments - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2022		Dec. 31, 2023
Schedule of Investments [Line Items]
Interest Rate		5%		5%
Investment, interest rate, paid in kind		8%		8%
Amortized cost		$ 106,156		$ 135,332
Fair Value		100,417		133,675
Investment, Identifier [Axis]: Equity/Other - 4.2%, Advantage Capital Holdings LLC
Schedule of Investments [Line Items]
Fair Value	[1],[2],[3],[4],[5],[6]	1,176
Investment, Identifier [Axis]: Equity/Other - 4.2%, American Academy Holdings Common
Schedule of Investments [Line Items]
Fair Value	[1],[2],[3],[4],[5],[6]	86
Investment, Identifier [Axis]: Equity/Other - 4.2%, American Academy Holdings Preferred
Schedule of Investments [Line Items]
Par / Shares	[1],[2],[3],[4],[5],[6]	45
Fair Value	[1],[2],[3],[4],[5],[6]	52
Investment, Identifier [Axis]: Equity/Other - 4.2%, Aperture Dodge 18
Schedule of Investments [Line Items]
Par / Shares	[1],[2],[3],[4],[5],[6],[7]	508
Amortized cost	[1],[2],[3],[4],[5],[6],[7],[8],[9]	508
Fair Value	[1],[2],[3],[4],[5],[6],[7]	508
Investment, Identifier [Axis]: Equity/Other - 4.2%, Great Lakes II Funding LLC
Schedule of Investments [Line Items]
Par / Shares	[1],[2],[3],[4],[5],[6]	83
Amortized cost	[1],[2],[3],[4],[5],[6],[8],[9]	83
Fair Value	[1],[2],[3],[4],[5],[6]	80
Investment, Identifier [Axis]: Equity/Other - 4.2%, Green Park M-1 Series - One
Schedule of Investments [Line Items]
Amortized cost	[1],[2],[3],[4],[5],[6],[8],[9]	34
Fair Value	[1],[2],[3],[4],[5],[6]	34
Investment, Identifier [Axis]: Equity/Other - 4.2%, GreenPark Infrastructure A Series
Schedule of Investments [Line Items]
Amortized cost	[1],[2],[3],[4],[5],[6],[8],[9]	100
Fair Value	[1],[2],[3],[4],[5],[6]	100
Investment, Identifier [Axis]: Forward Contracts, Security Halsey Point CLO II Ltd., Class Subordinated Notes, Counterparty Advantage Capital Holdings, LLC, Settlement 7/20/2031
Schedule of Investments [Line Items]
Par / Shares		$ 333
Settlement date		Jul. 20, 2031
Unrealized appreciation		$ 55
Investment, Identifier [Axis]: Investment in Equity/Other - 5.5%, Advantage Capital Holdings LLC, Financials
Schedule of Investments [Line Items]
Par / Shares	[6],[10],[11],[12],[13],[14],[15]			0
Amortized cost	[6],[10],[11],[12],[13],[14],[15],[16],[17]			0
Fair Value	[6],[10],[11],[12],[13],[14],[15]			1,524
Investment, Identifier [Axis]: Investment in Equity/Other - 5.5%, American Academy Holdings, Common, Healthcare
Schedule of Investments [Line Items]
Par / Shares	[6],[10],[11],[12],[13],[14],[15]			0
Amortized cost	[6],[10],[11],[12],[13],[14],[15],[16],[17]			0
Fair Value	[6],[10],[11],[12],[13],[14],[15]			151
Investment, Identifier [Axis]: Investment in Equity/Other - 5.5%, American Academy Holdings, Preferred, Healthcare One
Schedule of Investments [Line Items]
Par / Shares	[6],[10],[11],[12],[13],[14],[15]			45
Amortized cost	[6],[10],[11],[12],[13],[14],[15],[16],[17]			0
Fair Value	[6],[10],[11],[12],[13],[14],[15]			60
Investment, Identifier [Axis]: Investment in Equity/Other - 5.5%, Aperture Dodge 18, Industrials
Schedule of Investments [Line Items]
Par / Shares	[6],[10],[11],[12],[13],[14],[15]			511
Amortized cost	[6],[10],[11],[12],[13],[14],[15],[16],[17]			511
Fair Value	[6],[10],[11],[12],[13],[14],[15]			540
Investment, Identifier [Axis]: Investment in Equity/Other - 5.5%, Great Lakes II Funding LLC - unfunded, Financials
Schedule of Investments [Line Items]
Par / Shares	[6],[10],[11],[12],[13],[14],[15],[18],[19],[20]			10
Amortized cost	[6],[10],[11],[12],[13],[14],[16],[17],[18],[20]			0
Fair Value	[6],[10],[11],[12],[13],[14],[15],[18],[19],[20]			0
Investment, Identifier [Axis]: Investment in Equity/Other - 5.5%, Great Lakes II Funding LLC, Financials - One
Schedule of Investments [Line Items]
Par / Shares	[6],[10],[11],[12],[13],[14],[15],[20]			88
Amortized cost	[6],[10],[11],[12],[13],[14],[15],[16],[17],[20]			89
Fair Value	[6],[10],[11],[12],[13],[14],[15],[20]			92
Investment, Identifier [Axis]: Investment in Equity/Other - 5.5%, Green Park M-1 Series - Unfunded, Industrials - One
Schedule of Investments [Line Items]
Par / Shares	[6],[10],[11],[12],[13],[14],[15],[18],[20]			366
Amortized cost	[6],[10],[11],[12],[13],[14],[16],[17],[18],[20]			0
Fair Value	[6],[10],[11],[12],[13],[14],[15],[18],[20]			0
Investment, Identifier [Axis]: Investment in Equity/Other - 5.5%, Green Park M-1 Series, Industrials
Schedule of Investments [Line Items]
Par / Shares	[6],[10],[11],[12],[13],[14],[15],[20]			0
Amortized cost	[6],[10],[11],[12],[13],[14],[15],[16],[17],[20]			34
Fair Value	[6],[10],[11],[12],[13],[14],[15],[20]			34
Investment, Identifier [Axis]: Investment in Equity/Other - 5.5%, Green Park, Infrastructure A Series Industrials - Two
Schedule of Investments [Line Items]
Par / Shares	[6],[10],[11],[12],[13],[14],[15],[20]			0
Amortized cost	[6],[10],[11],[12],[13],[14],[15],[16],[17],[20]			100
Fair Value	[6],[10],[11],[12],[13],[14],[15],[20]			100
Investment, Identifier [Axis]: Investment in Equity/Other - 5.5%, Lucky Bucks, Gaming
Schedule of Investments [Line Items]
Par / Shares	[6],[10],[11],[12],[13],[14],[15]			67
Amortized cost	[6],[10],[11],[12],[13],[14],[15],[16],[17]			996
Fair Value	[6],[10],[11],[12],[13],[14],[15]			996
Investment, Identifier [Axis]: Investment in Equity/Other - 5.5%, Morae Global Inc, Financials
Schedule of Investments [Line Items]
Par / Shares	[6],[10],[11],[12],[13],[14],[15]			0
Amortized cost	[6],[10],[11],[12],[13],[14],[15],[16],[17]			122
Fair Value	[6],[10],[11],[12],[13],[14],[15]			139
Investment, Identifier [Axis]: Investment in Equity/Other - 5.5%, VBC Spine Opco LLC, Healthcare
Schedule of Investments [Line Items]
Par / Shares	[6],[10],[11],[12],[13],[14],[15]			79
Amortized cost	[6],[10],[11],[12],[13],[14],[15],[16],[17]			129
Fair Value	[6],[10],[11],[12],[13],[14],[15]			$ 129
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, AMCP PET HOLDINGS, INC., Consumer Staples, Interest Rate 11.58%, Reference Rate and Spread S + 6.25%, Floor Rate 1.00%, Maturity Date 10/5/2026
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[18]			11.58%
Reference Rate and Spread	[6],[10],[11],[12],[15],[18],[21]			6.25%
Floor	[6],[10],[11],[12],[15],[18]			1%
Maturity	[6],[10],[11],[12],[15],[18]			Oct. 05, 2026
Par / Shares	[6],[10],[11],[12],[15],[18]			$ 326
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[18]			321
Fair Value	[6],[10],[11],[12],[15],[18]			$ 315
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, AMCP PET HOLDINGS, INC., Consumer Staples, Interest Rate 11.58%, Reference Rate and Spread S + 6.25%, Floor Rate 1.00%, Maturity Date 10/5/2026 One
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[18],[22]			11.58%
Reference Rate and Spread	[6],[10],[11],[12],[15],[18],[21],[22]			6.25%
Floor	[6],[10],[11],[12],[15],[18],[22]			1%
Maturity	[6],[10],[11],[12],[15],[18],[22]			Oct. 05, 2026
Par / Shares	[6],[10],[11],[12],[15],[18],[22]			$ 1,947
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[18],[22]			1,926
Fair Value	[6],[10],[11],[12],[15],[18],[22]			$ 1,906
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, Accordion Partners LLC ,Financials , Interest Rate 11.85%, Reference Rate and Spread S + 6.50%, Floor Rate 0.00%, Maturity Date 8/29/2029
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			11.85%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			6.50%
Floor	[6],[10],[11],[12],[15],[22]			0%
Maturity	[6],[10],[11],[12],[15],[22]			Aug. 29, 2029
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 1,592
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			1,547
Fair Value	[6],[10],[11],[12],[15],[22]			$ 1,606
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, American Academy Holdings , Healthcare, Interest Rate 14.50%, Reference Rate and Spread NA, Floor Rate 0.00%, Maturity Date 3/1/2028
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			14.50%
Floor	[6],[10],[11],[12],[15],[22]			0%
Maturity	[6],[10],[11],[12],[15],[22]			Mar. 01, 2028
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 1,814
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			1,784
Fair Value	[6],[10],[11],[12],[15],[22]			$ 1,608
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, American Academy Holdings, Healthcare, Interest Rate 16.33%, Reference Rate and Spread S + 11.00%, Floor Rate 1.00%, Maturity Date 3/1/2028
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			16.33%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			11%
Floor	[6],[10],[11],[12],[15],[22]			1%
Maturity	[6],[10],[11],[12],[15],[22]			Mar. 01, 2028
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 190
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			190
Fair Value	[6],[10],[11],[12],[15],[22]			$ 191
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, American Academy Holdings., Healthcare, Interest Rate 16.33%, Reference Rate and Spread S + 11.00%, Floor Rate 1.00%, Maturity Date 3/1/2028 - One
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			16.33%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			11%
Floor	[6],[10],[11],[12],[15],[22]			1%
Maturity	[6],[10],[11],[12],[15],[22]			Mar. 01, 2028
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 959
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			951
Fair Value	[6],[10],[11],[12],[15],[22]			$ 965
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, Ancile Solutions, Inc., Information Technology, Interest Rate 12.33%, Reference Rate and Spread S + 7.00%, Floor Rate 1.00%, Maturity Date 6/11/2026
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			12.33%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			7%
Floor	[6],[10],[11],[12],[15],[22]			1%
Maturity	[6],[10],[11],[12],[15],[22]			Jun. 11, 2026
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 1,793
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			1,763
Fair Value	[6],[10],[11],[12],[15],[22]			$ 1,802
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, Florida Foods Products, LLC, Consumer Staples, Interest Rate 10.33%, Reference Rate and Spread S + 5.00%, Floor Rate 1.00%, Maturity Date 10/18/2028
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			10.33%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			5%
Floor	[6],[10],[11],[12],[15],[22]			1%
Maturity	[6],[10],[11],[12],[15],[22]			Oct. 18, 2028
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 990
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			941
Fair Value	[6],[10],[11],[12],[15],[22]			$ 869
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, Global IID Parent LLC, Consumer Staples, Interest Rate 9.83%, Reference Rate and Spread S + 4.50%, Floor Rate 0.00%, Maturity Date 12/8/2028
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			9.83%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			4.50%
Floor	[6],[10],[11],[12],[15],[22]			0%
Maturity	[6],[10],[11],[12],[15],[22]			Dec. 08, 2028
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 1,990
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			1,879
Fair Value	[6],[10],[11],[12],[15],[22]			$ 1,907
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, H-CA II T/L, Financials, Interest Rate 16.00%, Floor Rate 0.00%, Maturity Date 2/16/2024
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			16%
Floor	[6],[10],[11],[12],[15],[22]			0%
Maturity	[6],[10],[11],[12],[15],[22]			Feb. 16, 2024
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 1,854
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			1,854
Fair Value	[6],[10],[11],[12],[15],[22]			$ 1,854
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, H.W. Lochner T/L (Elysium Infrastructure), Industrials, Interest Rate 11.08%, Reference Rate and Spread S + 5.75%, Floor Rate 1.00%, Maturity Date 7/2/2027
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			11.08%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			5.75%
Floor	[6],[10],[11],[12],[15],[22]			1%
Maturity	[6],[10],[11],[12],[15],[22]			Jul. 02, 2027
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 2,933
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			2,895
Fair Value	[6],[10],[11],[12],[15],[22]			$ 2,830
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, HW Lochner, Industrials, Interest Rate 12.08%, Reference Rate and Spread S + 6.75%, Floor Rate 0.00%, Maturity Date 7/2/2027
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			12.08%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			6.75%
Floor	[6],[10],[11],[12],[15],[22]			0%
Maturity	[6],[10],[11],[12],[15],[22]			Jul. 02, 2027
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 1,400
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			1,363
Fair Value	[6],[10],[11],[12],[15],[22]			$ 1,377
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, Idera, Inc., Information Technology, Interest Rate 12.08%, Reference Rate and Spread S + 6.75%, Floor Rate 0.75%, Maturity Date 2/5/2029
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15]			12.08%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21]			6.75%
Floor	[6],[10],[11],[12],[15]			0.75%
Maturity	[6],[10],[11],[12],[15]			Feb. 05, 2029
Par / Shares	[6],[10],[11],[12],[15]			$ 4,000
Amortized cost	[6],[10],[11],[12],[15],[16],[17]			3,975
Fair Value	[6],[10],[11],[12],[15]			$ 3,874
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, Inmar, Inc., Information Technology, Interest Rate 10.83%, Reference Rate and Spread S + 5.50% , Floor Rate 1.00%, Maturity Date 5/1/2026
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[18]			10.83%
Reference Rate and Spread	[6],[10],[11],[12],[15],[18],[21]			5.50%
Floor	[6],[10],[11],[12],[15],[18]			1%
Maturity	[6],[10],[11],[12],[15],[18]			May 01, 2026
Par / Shares	[6],[10],[11],[12],[15],[18]			$ 1,990
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[18]			1,931
Fair Value	[6],[10],[11],[12],[15],[18]			$ 1,970
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, Ivanti Software, Inc., Information Technology, Interest Rate 12.58%, Reference Rate and Spread S + 7.25% , Floor Rate 0.75%, Maturity Date 12/1/2027
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22],[23]			12.58%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22],[23]			7.25%
Floor	[6],[10],[11],[12],[15],[22],[23]			0.75%
Maturity	[6],[10],[11],[12],[15],[22],[23]			Dec. 01, 2027
Par / Shares	[6],[10],[11],[12],[15],[22],[23]			$ 992
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22],[23]			816
Fair Value	[6],[10],[11],[12],[15],[22],[23]			$ 945
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, Ivanti Software, Inc., Information Technology, Interest Rate 9.58%, Reference Rate and Spread S + 4.25% , Floor Rate 1.00%, Maturity Date 12/1/2028
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22],[23]			9.58%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22],[23]			4.25%
Floor	[6],[10],[11],[12],[15],[22],[23]			1%
Maturity	[6],[10],[11],[12],[15],[22],[23]			Dec. 01, 2028
Par / Shares	[6],[10],[11],[12],[15],[22],[23]			$ 4,000
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22],[23]			3,914
Fair Value	[6],[10],[11],[12],[15],[22],[23]			$ 3,247
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, KL Charlie Acquisition, Healthcare, Interest Rate 12.10%, Reference Rate and Spread S + 6.75% , Floor Rate 1.00%, Maturity Date 12/30/2026
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			12.10%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			6.75%
Floor	[6],[10],[11],[12],[15],[22]			1%
Maturity	[6],[10],[11],[12],[15],[22]			Dec. 30, 2026
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 1,252
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			1,232
Fair Value	[6],[10],[11],[12],[15],[22]			$ 1,235
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, KL Charlie Acquisition, Healthcare, Interest Rate 12.10%, Reference Rate and Spread S + 6.75% , Floor Rate 1.00%, Maturity Date 12/30/2026 - One
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			12.10%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			6.75%
Floor	[6],[10],[11],[12],[15],[22]			1%
Maturity	[6],[10],[11],[12],[15],[22]			Dec. 30, 2026
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 1,607
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			1,581
Fair Value	[6],[10],[11],[12],[15],[22]			$ 1,585
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, Lucky Bucks, Gaming, Interest Rate 12.98%, Reference Rate and Spread S + 7.65% , Floor Rate 1.00%, Maturity Date 10/2/2023
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			12.98%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			7.65%
Floor	[6],[10],[11],[12],[15],[22]			1%
Maturity	[6],[10],[11],[12],[15],[22]			Oct. 02, 2028
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 245
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			239
Fair Value	[6],[10],[11],[12],[15],[22]			$ 248
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, Lucky Bucks, Gaming, Interest Rate 12.98%, Reference Rate and Spread S + 7.65% , Floor Rate 1.00%, Maturity Date 10/2/2029
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[18],[22]			12.98%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			7.65%
Floor	[6],[10],[11],[12],[15],[22]			1%
Maturity	[6],[10],[11],[12],[15],[22]			Oct. 02, 2029
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 488
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			488
Fair Value	[6],[10],[11],[12],[15],[22]			$ 466
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, MAG DS CORP., Industrials, Interest Rate 10.83%, Reference Rate and Spread S + 5.50% , Floor Rate 1.00%, Maturity Date 4/1/2027
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			10.83%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			5.50%
Floor	[6],[10],[11],[12],[15],[22]			1%
Maturity	[6],[10],[11],[12],[15],[22]			Apr. 01, 2027
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 2,748
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			2,670
Fair Value	[6],[10],[11],[12],[15],[22]			$ 2,640
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, MSM Acquisitions, Inc., Information Technology, Interest Rate 11.33%, Reference Rate and Spread S + 6.00% , Floor Rate 1.00%, Maturity Date 12/9/2026
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			11.33%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			6%
Floor	[6],[10],[11],[12],[15],[22]			1%
Maturity	[6],[10],[11],[12],[15],[22]			Dec. 09, 2026
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 1,157
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			1,157
Fair Value	[6],[10],[11],[12],[15],[22]			$ 1,109
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, MSM Acquisitions, Inc., Information Technology, Interest Rate 11.33%, Reference Rate and Spread S + 6.00% , Floor Rate 1.00%, Maturity Date 12/9/2026 One
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			11.33%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			6%
Floor	[6],[10],[11],[12],[15],[22]			1%
Maturity	[6],[10],[11],[12],[15],[22]			Dec. 09, 2026
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 2,774
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			2,756
Fair Value	[6],[10],[11],[12],[15],[22]			$ 2,660
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, Money Transfer Acquisition, Inc, Financials, Interest Rate 13.60%, Reference Rate and Spread S + 8.25% , Floor Rate 1.00%, Maturity Date 12/14/2027
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22],[24]			13.60%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22],[24]			8.25%
Floor	[6],[10],[11],[12],[15],[22],[24]			1%
Maturity	[6],[10],[11],[12],[15],[22],[24]			Dec. 14, 2027
Par / Shares	[6],[10],[11],[12],[15],[22],[24]			$ 3,900
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22],[24]			3,824
Fair Value	[6],[10],[11],[12],[15],[22],[24]			$ 3,803
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, Monroe Engineering Group, Industrials, Interest Rate 12.08%, Reference Rate and Spread S + 6.75% , Floor Rate 0.00%, Maturity Date 12/20/2026
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[18],[22],[23]			12.08%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22],[23]			6.75%
Floor	[6],[10],[11],[12],[15],[22],[23]			0%
Maturity	[6],[10],[11],[12],[15],[22],[23]			Dec. 20, 2026
Par / Shares	[6],[10],[11],[12],[15],[22],[23]			$ 1,993
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22],[23]			1,941
Fair Value	[6],[10],[11],[12],[15],[22],[23]			$ 1,993
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, Monroe Engineering Group, Industrials, Interest Rate 12.10%, Reference Rate and Spread S + 6.75% , Floor Rate 0.00%, Maturity Date 12/20/2028
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22],[23]			12.10%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22],[23]			6.75%
Floor	[6],[10],[11],[12],[15],[22],[23]			0%
Maturity	[6],[10],[11],[12],[15],[22],[23]			Dec. 20, 2028
Par / Shares	[6],[10],[11],[12],[15],[22],[23]			$ 1,985
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22],[23]			1,931
Fair Value	[6],[10],[11],[12],[15],[22],[23]			$ 1,985
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, Morae Global Inc, Financials, Interest Rate 13.33%, Reference Rate and Spread S + 8.00% , Floor Rate 1.00%, Maturity Date 10/24/2030
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[18],[22],[25]			13.33%
Reference Rate and Spread	[6],[10],[11],[12],[15],[18],[21],[22],[25]			8%
Floor	[6],[10],[11],[12],[15],[18],[22],[25]			1%
Maturity	[6],[10],[11],[12],[15],[18],[22],[25]			Oct. 24, 2030
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[18],[22],[25]			$ (8)
Fair Value	[6],[10],[11],[12],[15],[18],[22],[25]			$ (14)
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, Morae Global Inc, Financials, Interest Rate 13.33%, Reference Rate and Spread S + 8.00% , Floor Rate 1.00%, Maturity Date 10/24/2030 One
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			13.33%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			8%
Floor	[6],[10],[11],[12],[15],[22]			1%
Maturity	[6],[10],[11],[12],[15],[22]			Oct. 24, 2030
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 3,188
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			3,097
Fair Value	[6],[10],[11],[12],[15],[22]			$ 3,037
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, NAVIGA INC., Information Technology, Interest Rate 12.33%, Reference Rate and Spread S + 7.00% , Floor Rate 1.00%, Maturity Date 3/28/2024
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			12.33%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			7%
Floor	[6],[10],[11],[12],[15],[22]			1%
Maturity	[6],[10],[11],[12],[15],[22]			Mar. 28, 2024
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 1,970
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			1,969
Fair Value	[6],[10],[11],[12],[15],[22]			$ 1,957
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, NAVIGA INC., Information Technology, Interest Rate 12.33%, Reference Rate and Spread S + 7.00% , Floor Rate 1.00%, Maturity Date 3/28/2024 One
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			12.33%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			7%
Floor	[6],[10],[11],[12],[15],[22]			1%
Maturity	[6],[10],[11],[12],[15],[22]			Mar. 28, 2024
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 1,856
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			1,854
Fair Value	[6],[10],[11],[12],[15],[22]			$ 1,843
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, NAVIGA INC., Information Technology, Interest Rate 12.33%, Reference Rate and Spread S + 7.00% , Floor Rate 1.60%, Maturity Date 3/28/2024
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			12.33%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			7%
Floor	[6],[10],[11],[12],[15],[22]			1.60%
Maturity	[6],[10],[11],[12],[15],[22]			Mar. 28, 2024
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 205
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			205
Fair Value	[6],[10],[11],[12],[15],[22]			$ 204
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, Neptune Bidco US Inc, Communication Services, Interest Rate 10.35%, Reference Rate and Spread S + 5.00% , Floor Rate 0.00%, Maturity Date 4/11/2029
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22],[23]			10.35%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22],[23]			5%
Floor	[6],[10],[11],[12],[15],[22],[23]			0%
Maturity	[6],[10],[11],[12],[15],[22],[23]			Apr. 11, 2029
Par / Shares	[6],[10],[11],[12],[15],[22],[23]			$ 4,975
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22],[23]			4,544
Fair Value	[6],[10],[11],[12],[15],[22],[23]			$ 4,557
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, PhyNet Dermatology LLC, Healthcare, Interest Rate 11.83%, Reference Rate and Spread S + 6.50% , Floor Rate 0.00%, Maturity Date 10/20/2029
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			11.83%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			6.50%
Floor	[6],[10],[11],[12],[15],[22]			0%
Maturity	[6],[10],[11],[12],[15],[22]			Oct. 20, 2029
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 2,287
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			2,240
Fair Value	[6],[10],[11],[12],[15],[22]			$ 2,264
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, PhyNet Dermatology LLC, Healthcare, Interest Rate 11.83%, Reference Rate and Spread S + 6.50% , Floor Rate 0.75%, Maturity Date 8/16/2024
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[18],[22],[24],[25]			11.83%
Reference Rate and Spread	[6],[10],[11],[12],[15],[18],[21],[22],[24],[25]			6.50%
Floor	[6],[10],[11],[12],[15],[18],[22],[24],[25]			0.75%
Maturity	[6],[10],[11],[12],[15],[18],[22],[24],[25]			Aug. 16, 2024
Amortized cost	[6],[10],[11],[12],[16],[17],[18],[22],[24],[25]			$ (8)
Fair Value	[6],[10],[11],[12],[15],[18],[22],[25]			$ (17)
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, Premier Imaging, LLC, Healthcare, Interest Rate 11.10%, Reference Rate and Spread S + 5.75% , Floor Rate 0.00%, Maturity Date 12/29/2028
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			11.10%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			5.75%
Floor	[6],[10],[11],[12],[15],[22]			0%
Maturity	[6],[10],[11],[12],[15],[22]			Dec. 29, 2028
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 94
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			94
Fair Value	[6],[10],[11],[12],[15],[22]			$ 91
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, Premier Imaging, LLC, Healthcare, Interest Rate 11.10%, Reference Rate and Spread S + 5.75% , Floor Rate 1.00%, Maturity Date 1/2/2025
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			11.10%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			5.75%
Floor	[6],[10],[11],[12],[15],[22]			1%
Maturity	[6],[10],[11],[12],[15],[22]			Jan. 02, 2025
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 937
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			935
Fair Value	[6],[10],[11],[12],[15],[22]			$ 901
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, Premier Imaging, LLC, Healthcare, Interest Rate 11.10%, Reference Rate and Spread S + 5.75% , Floor Rate 1.00%, Maturity Date 1/2/2025 - One
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			11.10%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			5.75%
Floor	[6],[10],[11],[12],[15],[22]			1%
Maturity	[6],[10],[11],[12],[15],[22]			Jan. 02, 2025
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 26
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			26
Fair Value	[6],[10],[11],[12],[15],[22]			$ 25
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, Premier Imaging, LLC, Healthcare, Interest Rate 11.10%, Reference Rate and Spread S + 5.75% , Floor Rate 1.00%, Maturity Date 1/2/2025 - Three
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			11.10%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			5.75%
Floor	[6],[10],[11],[12],[15],[22]			1%
Maturity	[6],[10],[11],[12],[15],[22]			Jan. 02, 2025
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 1,754
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			1,748
Fair Value	[6],[10],[11],[12],[15],[22]			$ 1,686
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, Premier Imaging, LLC, Healthcare, Interest Rate 11.10%, Reference Rate and Spread S + 5.75% , Floor Rate 1.00%, Maturity Date 1/2/2025 - Two
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			11.10%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			5.75%
Floor	[6],[10],[11],[12],[15],[22]			1%
Maturity	[6],[10],[11],[12],[15],[22]			Jan. 02, 2025
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 957
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			955
Fair Value	[6],[10],[11],[12],[15],[22]			$ 920
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, Priority Holdings, LLC, Information Technology, Interest Rate 12.08%, Reference Rate and Spread S + 6.75% , Floor Rate 1.00%, Maturity Date 4/27/2027
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			12.08%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			6.75%
Floor	[6],[10],[11],[12],[15],[22]			1%
Maturity	[6],[10],[11],[12],[15],[22]			Apr. 27, 2027
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 4,972
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			4,954
Fair Value	[6],[10],[11],[12],[15],[22]			$ 4,953
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, Project Castle T/L, Information Technology, Interest Rate 10.83%, Reference Rate and Spread S + 5.50% , Floor Rate 1.00%, Maturity Date 6/29/2029
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			10.83%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			5.50%
Floor	[6],[10],[11],[12],[15],[22]			1%
Maturity	[6],[10],[11],[12],[15],[22]			Jun. 29, 2029
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 4,942
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			4,485
Fair Value	[6],[10],[11],[12],[15],[22]			$ 4,390
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, Project Leopard Holdings Company Inc, Information Technology, Interest Rate 10.70%, Reference Rate and Spread S + 5.35% , Floor Rate 1.00%, Maturity Date 7/20/2029
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22],[23]			10.70%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22],[23]			5.35%
Floor	[6],[10],[11],[12],[15],[22],[23]			1%
Maturity	[6],[10],[11],[12],[15],[22],[23]			Jul. 20, 2029
Par / Shares	[6],[10],[11],[12],[15],[22],[23]			$ 3,960
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22],[23]			3,722
Fair Value	[6],[10],[11],[12],[15],[22],[23]			$ 3,600
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, RN Enterprises, LLC, Healthcare, Interest Rate 11.85%, Reference Rate and Spread S + 6.50% , Floor Rate 1.00%, Maturity Date 12/23/2025
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			11.85%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			6.50%
Floor	[6],[10],[11],[12],[15],[22]			1%
Maturity	[6],[10],[11],[12],[15],[22]			Dec. 23, 2025
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 982
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			969
Fair Value	[6],[10],[11],[12],[15],[22]			$ 954
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, RN Enterprises, LLC, Healthcare, Interest Rate 11.85%, Reference Rate and Spread S + 6.50% , Floor Rate 1.00%, Maturity Date 12/23/2025 - One
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			11.85%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			6.50%
Floor	[6],[10],[11],[12],[15],[22]			1%
Maturity	[6],[10],[11],[12],[15],[22]			Dec. 23, 2025
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 500
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			490
Fair Value	[6],[10],[11],[12],[15],[22]			$ 486
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, RSA Security, LLC, Information Technology, Interest Rate 13.08%, Reference Rate and Spread S + 7.75% , Floor Rate 0.75%, Maturity Date 4/27/2029
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22],[23]			13.08%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22],[23]			7.75%
Floor	[6],[10],[11],[12],[15],[22],[23]			0.75%
Maturity	[6],[10],[11],[12],[15],[22],[23]			Apr. 27, 2029
Par / Shares	[6],[10],[11],[12],[15],[22],[23]			$ 4,000
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22],[23]			3,946
Fair Value	[6],[10],[11],[12],[15],[22],[23]			$ 2,480
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, Reception Purchaser, LLC, Transportation, Interest Rate 11.35%, Reference Rate and Spread S + 6.00% , Floor Rate 1.50%, Maturity Date 5/31/2028
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			11.35%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			6%
Floor	[6],[10],[11],[12],[15],[22]			1.50%
Maturity	[6],[10],[11],[12],[15],[22]			May 31, 2028
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 1,970
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			1,946
Fair Value	[6],[10],[11],[12],[15],[22]			$ 1,458
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, Symplr Software Inc, Information Technology, Interest Rate 9.85%, Reference Rate and Spread S + 4.50% , Floor Rate 0.75%, Maturity Date 12/22/2027
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22],[23]			9.85%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22],[23]			4.50%
Floor	[6],[10],[11],[12],[15],[22],[23]			0.75%
Maturity	[6],[10],[11],[12],[15],[22],[23]			Dec. 22, 2027
Par / Shares	[6],[10],[11],[12],[15],[22],[23]			$ 1,113
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22],[23]			1,111
Fair Value	[6],[10],[11],[12],[15],[22],[23]			$ 1,001
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, Synaemedia Americas Holdings, Inc, Information Technology, Interest Rate 13.08%, Reference Rate and Spread S + 7.75% , Floor Rate 1.00%, Maturity Date 12/5/2030
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[19],[22]			13.08%
Reference Rate and Spread	[6],[10],[11],[12],[15],[19],[21],[22]			7.75%
Floor	[6],[10],[11],[12],[15],[19],[22]			1%
Maturity	[6],[10],[11],[12],[15],[19],[22]			Dec. 05, 2030
Par / Shares	[6],[10],[11],[12],[15],[19],[22]			$ 2,759
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[19],[22]			2,662
Fair Value	[6],[10],[11],[12],[15],[19],[22]			$ 2,662
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, TLE Holdings, LLC, Consumer Discretionary, Interest Rate 11.33%, Reference Rate and Spread S + 6.00% , Floor Rate 1.00%, Maturity Date 6/28/2024
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			11.33%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			6%
Floor	[6],[10],[11],[12],[15],[22]			1%
Maturity	[6],[10],[11],[12],[15],[22]			Jun. 28, 2024
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 957
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			957
Fair Value	[6],[10],[11],[12],[15],[22]			$ 955
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, Tactical Air Support, Inc, Industrials, Interest Rate 13.83%, Reference Rate and Spread S + 8.50% , Floor Rate 0.00%, Maturity Date 12/22/2028
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[18],[19],[22],[25]			13.83%
Reference Rate and Spread	[6],[10],[11],[12],[15],[18],[19],[21],[22],[25]			8.50%
Floor	[6],[10],[11],[12],[15],[18],[19],[22],[25]			0%
Maturity	[6],[10],[11],[12],[15],[18],[19],[22],[25]			Dec. 22, 2028
Amortized cost	[6],[10],[11],[12],[16],[17],[18],[19],[22],[25]			$ (14)
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, Tactical Air Support, Inc, Industrials, Interest Rate 13.83%, Reference Rate and Spread S + 8.50% , Floor Rate 1.00%, Maturity Date 12/22/2028
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[19],[22]			13.83%
Reference Rate and Spread	[6],[10],[11],[12],[15],[19],[21],[22]			8.50%
Floor	[6],[10],[11],[12],[15],[19],[22]			1%
Maturity	[6],[10],[11],[12],[15],[19],[22]			Dec. 22, 2028
Par / Shares	[6],[10],[11],[12],[15],[19],[22]			$ 3,429
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[19],[22]			3,343
Fair Value	[6],[10],[11],[12],[15],[19],[22]			$ 3,343
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, Tank Holding Corp DDTL, Industrials, Interest Rate 11.33%, Reference Rate and Spread S + 6.00% , Floor Rate 0.75%, Maturity Date 3/31/2028
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[18],[22]			11.33%
Reference Rate and Spread	[6],[10],[11],[12],[15],[18],[21],[22]			6%
Floor	[6],[10],[11],[12],[15],[18],[22]			0.75%
Maturity	[6],[10],[11],[12],[15],[18],[22]			Mar. 31, 2028
Par / Shares	[6],[10],[11],[12],[15],[18],[22]			$ 101
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[18],[22]			97
Fair Value	[6],[10],[11],[12],[15],[16],[17],[18],[22]			$ 91
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, Tank Holding Corp, Industrials, Interest Rate 11.08%, Reference Rate and Spread S + 5.75% , Floor Rate 1.00%, Maturity Date 3/31/2028
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[18],[22]			11.08%
Reference Rate and Spread	[6],[10],[11],[12],[15],[18],[21],[22]			5.75%
Floor	[6],[10],[11],[12],[15],[18],[22]			1%
Maturity	[6],[10],[11],[12],[15],[18],[22]			Mar. 31, 2028
Par / Shares	[6],[10],[11],[12],[15],[18],[22]			$ 18
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[18],[22]			15
Fair Value	[6],[10],[11],[12],[15],[16],[17],[18],[22]			$ 16
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, Tank Holding Corp, Industrials, Interest Rate 11.08%, Reference Rate and Spread S + 5.75% , Floor Rate 1.00%, Maturity Date 3/31/2028 - One
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22],[23]			11.08%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22],[23]			5.75%
Floor	[6],[10],[11],[12],[15],[22],[23]			1%
Maturity	[6],[10],[11],[12],[15],[22],[23]			Mar. 31, 2028
Par / Shares	[6],[10],[11],[12],[15],[22],[23]			$ 3,922
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22],[23]			3,751
Fair Value	[6],[10],[11],[12],[15],[16],[17],[22],[23]			$ 3,765
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, Tank Holding Corp, Industrials, Interest Rate 11.33%, Reference Rate and Spread S + 6.00% , Floor Rate 0.75%, Maturity Date 3/31/2028
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			11.33%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			6%
Floor	[6],[10],[11],[12],[15],[22]			0.75%
Maturity	[6],[10],[11],[12],[15],[22]			Mar. 31, 2028
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 695
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			676
Fair Value	[6],[10],[11],[12],[15],[16],[17],[22]			$ 667
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, VBC Spine Opco LLC, Healthcare, Interest Rate 13.33%, Reference Rate and Spread S + 8.00% , Floor Rate 1.00%, Maturity Date 6/13/2030
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[18],[25]			13.33%
Reference Rate and Spread	[6],[10],[11],[12],[15],[18],[21],[25]			8%
Floor	[6],[10],[11],[12],[15],[18],[25]			1%
Maturity	[6],[10],[11],[12],[15],[18],[25]			Jun. 13, 2030
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[18],[25]			$ (18)
Fair Value	[6],[10],[11],[12],[15],[18],[25]			$ (12)
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, VBC Spine Opco LLC, Healthcare, Interest Rate 13.33%, Reference Rate and Spread S + 8.00% , Floor Rate 1.00%, Maturity Date 6/13/2030 - One
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[18]			13.33%
Reference Rate and Spread	[6],[10],[11],[12],[15],[18],[21]			8%
Floor	[6],[10],[11],[12],[15],[18]			1%
Maturity	[6],[10],[11],[12],[15],[18]			Jun. 13, 2030
Par / Shares	[6],[10],[11],[12],[15],[18]			$ 65
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[18]			61
Fair Value	[6],[10],[11],[12],[15],[18]			$ 62
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, VBC Spine Opco LLC, Healthcare, Interest Rate 13.33%, Reference Rate and Spread S + 8.00% , Floor Rate 1.00%, Maturity Date 6/13/2030 - Two
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			13.33%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			8%
Floor	[6],[10],[11],[12],[15],[22]			1%
Maturity	[6],[10],[11],[12],[15],[22]			Jun. 13, 2030
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 1,750
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			1,700
Fair Value	[6],[10],[11],[12],[15],[22]			$ 1,728
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 185.0%, Wonder Love Inc, Communication Services, Interest Rate 10.33%, Reference Rate and Spread S + 5.00% , Floor Rate 1.00%, Maturity Date 11/18/2024
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			10.33%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			5%
Floor	[6],[10],[11],[12],[15],[22]			1%
Maturity	[6],[10],[11],[12],[15],[22]			Nov. 18, 2024
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 375
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			373
Fair Value	[6],[10],[11],[12],[15],[22]			$ 375
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, ALCV Purchaser, Inc., Consumer Discretionary, Interest Rate 11.15%, Reference Rate and Spread L + 6.75%, Floor Rate 1.00%, Maturity Date 2/26/2026
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	11.15%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	6.75%
Floor	[1],[2],[3],[6],[26]	1%
Maturity	[1],[2],[3],[6],[26]	Feb. 26, 2026
Par / Shares	[1],[2],[3],[6],[26]	$ 2,333
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	2,309
Fair Value	[1],[2],[3],[6],[26]	$ 2,310
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, AMCP PET HOLDINGS, INC., Consumer Staples, Interest Rate 11.39%, Reference Rate and Spread L + 6.25%, Floor Rate 1.00%, Maturity Date 10/5/2026 - One
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	11.39%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	6.25%
Floor	[1],[2],[3],[6],[26]	1%
Maturity	[1],[2],[3],[6],[26]	Oct. 05, 2026
Par / Shares	[1],[2],[3],[6],[26]	$ 500
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	494
Fair Value	[1],[2],[3],[6],[26]	$ 484
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, AMCP PET HOLDINGS, INC., Consumer Staples, Interest Rate 11.39%, Reference Rate and Spread L + 6.25%, Floor Rate 1.00%, Maturity Date 10/5/2026 - Two
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	11.39%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	6.25%
Floor	[1],[2],[3],[6],[26]	1%
Maturity	[1],[2],[3],[6],[26]	Oct. 05, 2026
Par / Shares	[1],[2],[3],[6],[26]	$ 1,960
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	1,933
Fair Value	[1],[2],[3],[6],[26]	$ 1,896
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, Accurate Background LLC, Information Technology, Interest Rate 10.77%, Reference Rate and Spread L + 6.00%, Floor Rate 0.00%, Maturity Date 3/26/2027- Two
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	10.77%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	6%
Floor	[1],[2],[3],[6],[26]	0%
Maturity	[1],[2],[3],[6],[26]	Mar. 26, 2027
Par / Shares	[1],[2],[3],[6],[26]	$ 499
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	459
Fair Value	[1],[2],[3],[6],[26]	$ 481
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, Accurate Background LLC, Information Technology, Interest Rate 10.77%, Reference Rate and Spread L + 6.00%, Floor Rate 1.00%, Maturity Date 3/26/2027 - One
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	10.77%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	6%
Floor	[1],[2],[3],[6],[26]	1%
Maturity	[1],[2],[3],[6],[26]	Mar. 26, 2027
Par / Shares	[1],[2],[3],[6],[26]	$ 2,962
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	2,746
Fair Value	[1],[2],[3],[6],[26]	$ 2,858
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, Advantage Capital Holdings LLC, Financials, Interest Rate 13.00%, Reference Rate and Spread 5.00% cash / 8.00% PIK, Floor Rate 0.00%, Maturity Date 4/14/2027
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26],[28]	13%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	5%
Investment, interest rate, paid in kind	[1],[2],[3],[6],[26],[27]	8%
Floor	[1],[2],[3],[6],[26],[28]	0%
Maturity	[1],[2],[3],[6],[26],[28]	Apr. 14, 2027
Par / Shares	[1],[2],[3],[6],[26],[28]	$ 4,184
Amortized cost	[1],[2],[3],[6],[8],[9],[26],[28]	4,184
Fair Value	[1],[2],[3],[6],[26],[28]	$ 4,064
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, American Academy Holdings, Healthcare, Interest Rate 12.00%, Reference Rate and Spread N/A , Floor Rate 0.00%, Maturity Date 1/1/2025
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	12%
Floor	[1],[2],[3],[6],[26]	0%
Maturity	[1],[2],[3],[6],[26]	Jan. 01, 2025
Par / Shares	[1],[2],[3],[6],[26]	$ 1,573
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	1,536
Fair Value	[1],[2],[3],[6],[26]	$ 1,278
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, American Academy Holdings, Healthcare, Interest Rate 15.38%, Reference Rate and Spread L + 4.75 Cash / 6.25% PIK, Floor Rate 1.00%, Maturity Date 1/1/2025 - One
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	15.38%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	4.75%
Investment, interest rate, paid in kind	[1],[2],[3],[6],[26],[27]	6.25%
Floor	[1],[2],[3],[6],[26]	1%
Maturity	[1],[2],[3],[6],[26]	Jan. 01, 2025
Par / Shares	[1],[2],[3],[6],[26]	$ 182
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	181
Fair Value	[1],[2],[3],[6],[26]	$ 179
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, American Academy Holdings, Healthcare, Interest Rate 15.38%, Reference Rate and Spread L + 4.75 Cash / 6.25% PIK, Floor Rate 1.00%, Maturity Date 1/1/2025 - Two
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	15.38%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	4.75%
Investment, interest rate, paid in kind	[1],[2],[3],[6],[26],[27]	6.25%
Floor	[1],[2],[3],[6],[26]	1%
Maturity	[1],[2],[3],[6],[26]	Jan. 01, 2025
Par / Shares	[1],[2],[3],[6],[26]	$ 918
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	910
Fair Value	[1],[2],[3],[6],[26]	$ 901
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, Ancile Solutions, Inc., Information Technology, Interest Rate 11.77%, Reference Rate and Spread L + 7.00%, Floor Rate 1.00%, Maturity Date 6/11/2026
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	11.77%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	7%
Floor	[1],[2],[3],[6],[26]	1%
Maturity	[1],[2],[3],[6],[26]	Jun. 11, 2026
Par / Shares	[1],[2],[3],[6],[26]	$ 1,915
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	1,871
Fair Value	[1],[2],[3],[6],[26]	$ 1,876
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, Beta Plus Technologies, Inc, Information Technology, Interest Rate 8.87%, Reference Rate and Spread S + 4.75% , Floor Rate 0.00%, Maturity Date 6/29/2029 - One
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[7],[29],[30]	8.87%
Reference Rate and Spread	[1],[2],[3],[6],[7],[27],[29],[30]	4.75%
Floor	[1],[2],[3],[6],[7],[29],[30]	0%
Maturity	[1],[2],[3],[6],[7],[29],[30]	Jun. 29, 2029
Par / Shares	[1],[2],[3],[6],[7],[29],[30]	$ 525
Fair Value	[1],[2],[3],[6],[7],[29],[30]	$ (21)
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, Beta Plus Technologies, Inc, Information Technology, Interest Rate 8.87%, Reference Rate and Spread S + 4.75% , Floor Rate 0.00%, Maturity Date 6/29/2029 - Two
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	8.87%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	4.75%
Floor	[1],[2],[3],[6],[26]	0%
Maturity	[1],[2],[3],[6],[26]	Jun. 29, 2029
Par / Shares	[1],[2],[3],[6],[26]	$ 3,472
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	3,405
Fair Value	[1],[2],[3],[6],[26]	$ 3,385
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, C. J. FOODS, INC., Consumer Staples, Interest Rate 10.40%, Reference Rate and Spread L + 6.00%, Floor Rate 1.00%, Maturity Date 3/16/2027
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26],[31]	10.40%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27],[31]	6%
Floor	[1],[2],[3],[6],[26],[31]	1%
Maturity	[1],[2],[3],[6],[26],[31]	Mar. 16, 2027
Par / Shares	[1],[2],[3],[6],[26],[31]	$ 1,724
Amortized cost	[1],[2],[3],[6],[8],[9],[26],[31]	1,665
Fair Value	[1],[2],[3],[6],[26],[31]	$ 1,700
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, C.P. Converters, Inc., Seventh Amendment Acquisition Loan, Industrials, Interest Rate 11.27%, Reference Rate and Spread L + 6.50%, Floor Rate 1.00%, Maturity Date 6/18/2023
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	11.27%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	6.50%
Floor	[1],[2],[3],[6],[26]	1%
Maturity	[1],[2],[3],[6],[26]	Jun. 18, 2023
Par / Shares	[1],[2],[3],[6],[26]	$ 1,875
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	1,867
Fair Value	[1],[2],[3],[6],[26]	$ 1,858
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, CenExcel Clinicial Research Holdings, Inc, Healthcare, Interest Rate 11.09%, Reference Rate and Spread S + 6.50%, Floor Rate 0.00%, Maturity Date 11/10/2025
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	11.09%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	6.50%
Floor	[1],[2],[3],[6],[26]	0%
Maturity	[1],[2],[3],[6],[26]	Nov. 10, 2025
Par / Shares	[1],[2],[3],[6],[26]	$ 432
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	432
Fair Value	[1],[2],[3],[6],[26]	$ 429
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, Critical Nurse Staffing LLC, Healthcare, Interest Rate 10.77%, Reference Rate and Spread L + 6.00%, Floor Rate 1.00%, Maturity Date 10/30/2026 - One
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	10.77%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	6%
Floor	[1],[2],[3],[6],[26]	1%
Maturity	[1],[2],[3],[6],[26]	Oct. 30, 2026
Par / Shares	[1],[2],[3],[6],[26]	$ 310
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	50
Fair Value	[1],[2],[3],[6],[26]	$ 49
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, Critical Nurse Staffing LLC, Healthcare, Interest Rate 10.77%, Reference Rate and Spread L + 6.00%, Floor Rate 1.00%, Maturity Date 10/30/2026 - Two
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	10.77%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	6%
Floor	[1],[2],[3],[6],[26]	1%
Maturity	[1],[2],[3],[6],[26]	Oct. 30, 2026
Par / Shares	[1],[2],[3],[6],[26]	$ 680
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	671
Fair Value	[1],[2],[3],[6],[26]	$ 672
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, DRI Holdings Inc, Information Technology, Interest Rate 9.65%, Reference Rate and Spread L + 5.25%, Floor Rate 0.50%, Maturity Date 12/21/2028
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26],[31]	9.65%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27],[31]	5.25%
Floor	[1],[2],[3],[6],[26],[31]	0.50%
Maturity	[1],[2],[3],[6],[26],[31]	Dec. 21, 2028
Par / Shares	[1],[2],[3],[6],[26],[31]	$ 3,975
Amortized cost	[1],[2],[3],[6],[8],[9],[26],[31]	3,719
Fair Value	[1],[2],[3],[6],[26],[31]	$ 3,453
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, Datalink, LLC, Healthcare, Interest Rate 10.65%, Reference Rate and Spread L + 6.25%, Floor Rate 1.00%, Maturity Date 11/23/2026
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	10.65%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	6.25%
Floor	[1],[2],[3],[6],[26]	1%
Maturity	[1],[2],[3],[6],[26]	Nov. 23, 2026
Par / Shares	[1],[2],[3],[6],[26]	$ 3,137
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	3,076
Fair Value	[1],[2],[3],[6],[26]	$ 3,113
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, Florida Foods Products, LLC, Consumer Staples, Interest Rate 9.59%, Reference Rate and Spread S + 5.00%, Floor Rate 1.00%, Maturity Date 10/18/2028 - One
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	9.59%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	5%
Floor	[1],[2],[3],[6],[26]	1%
Maturity	[1],[2],[3],[6],[26]	Oct. 18, 2028
Par / Shares	[1],[2],[3],[6],[26]	$ 1,000
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	943
Fair Value	[1],[2],[3],[6],[26]	$ 964
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, Florida Foods Products, LLC, Consumer Staples, Interest Rate 9.59%, Reference Rate and Spread S + 5.00%, Floor Rate 1.00%, Maturity Date 10/18/2028 - Two
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	9.59%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	5%
Floor	[1],[2],[3],[6],[26]	1%
Maturity	[1],[2],[3],[6],[26]	Oct. 18, 2028
Par / Shares	[1],[2],[3],[6],[26]	$ 1,985
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	1,951
Fair Value	[1],[2],[3],[6],[26]	$ 1,928
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, Grindr Capital LLC, Information Technology, Interest Rate 12.36%, Reference Rate and Spread S + 8.00%, Floor Rate 1.50%, Maturity Date 11/15/2027
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	12.36%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	8%
Floor	[1],[2],[3],[6],[26]	1.50%
Maturity	[1],[2],[3],[6],[26]	Nov. 15, 2027
Par / Shares	[1],[2],[3],[6],[26]	$ 2,000
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	2,000
Fair Value	[1],[2],[3],[6],[26]	$ 1,988
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, H-CA II T/L, Financials, Interest Rate 19.00%, Reference Rate and Spread N/A, Floor Rate 0.00%, Maturity Date 2/16/2024
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	19%
Floor	[1],[2],[3],[6],[26]	0%
Maturity	[1],[2],[3],[6],[26]	Feb. 16, 2024
Par / Shares	[1],[2],[3],[6],[26]	$ 2,000
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	2,000
Fair Value	[1],[2],[3],[6],[26]	$ 2,000
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, H.W. Lochner T/L (Elysium Infrastructure), Industrials, Interest Rate 10.34%, Reference Rate and Spread S + 5.75%, Floor Rate 1.00%, Maturity Date 7/2/2027
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26],[31]	10.34%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27],[31]	5.75%
Floor	[1],[2],[3],[6],[26],[31]	1%
Maturity	[1],[2],[3],[6],[26],[31]	Jul. 02, 2027
Par / Shares	[1],[2],[3],[6],[26],[31]	$ 2,963
Amortized cost	[1],[2],[3],[6],[8],[9],[26],[31]	2,915
Fair Value	[1],[2],[3],[6],[26],[31]	$ 2,829
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, Idera, Inc., Information Technology, Interest Rate 11.89%, Reference Rate and Spread L + 6.75%, Floor Rate 0.75%, Maturity Date 2/5/2029
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	11.89%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	6.75%
Floor	[1],[2],[3],[6],[26]	0.75%
Maturity	[1],[2],[3],[6],[26]	Feb. 05, 2029
Par / Shares	[1],[2],[3],[6],[26]	$ 4,000
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	3,970
Fair Value	[1],[2],[3],[6],[26]	$ 3,740
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, Ivanti Software, Inc., Information Technology, Interest Rate 12.02%, Reference Rate and Spread L + 7.25%, Floor Rate 1.00%, Maturity Date 12/1/2028
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26],[31]	12.02%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27],[31]	7.25%
Floor	[1],[2],[3],[6],[26],[31]	1%
Maturity	[1],[2],[3],[6],[26],[31]	Dec. 01, 2028
Par / Shares	[1],[2],[3],[6],[26],[31]	$ 4,000
Amortized cost	[1],[2],[3],[6],[8],[9],[26],[31]	3,904
Fair Value	[1],[2],[3],[6],[26],[31]	$ 2,340
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, Lucky Bucks T/L (7/21), Gaming, Interest Rate 10.64%, Reference Rate and Spread L + 5.50%, Floor Rate 1.00%, Maturity Date 7/21/2027
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	10.64%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	5.50%
Floor	[1],[2],[3],[6],[26]	0.75%
Maturity	[1],[2],[3],[6],[26]	Jul. 21, 2027
Par / Shares	[1],[2],[3],[6],[26]	$ 3,800
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	3,738
Fair Value	[1],[2],[3],[6],[26]	$ 2,239
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, MAG DS CORP., Industrials, Interest Rate 10.27%, Reference Rate and Spread L + 5.50%, Floor Rate 1.00%, Maturity Date 4/1/2027
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	10.27%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	5.50%
Floor	[1],[2],[3],[6],[26]	1%
Maturity	[1],[2],[3],[6],[26]	Apr. 01, 2027
Par / Shares	[1],[2],[3],[6],[26]	$ 2,778
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	2,680
Fair Value	[1],[2],[3],[6],[26]	$ 2,521
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, MSM Acquisitions, Inc., Information Technology, Interest Rate 10.77%, Reference Rate and Spread L + 6.00%, Floor Rate 1.00%, Maturity Date 12/9/2026 - One
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	10.77%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	6%
Floor	[1],[2],[3],[6],[26]	1%
Maturity	[1],[2],[3],[6],[26]	Dec. 09, 2026
Par / Shares	[1],[2],[3],[6],[26]	$ 1,154
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	1,155
Fair Value	[1],[2],[3],[6],[26]	$ 1,124
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, MSM Acquisitions, Inc., Information Technology, Interest Rate 10.77%, Reference Rate and Spread L + 6.00%, Floor Rate 1.00%, Maturity Date 12/9/2026 - Two
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	10.77%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	6%
Floor	[1],[2],[3],[6],[26]	1%
Maturity	[1],[2],[3],[6],[26]	Dec. 09, 2026
Par / Shares	[1],[2],[3],[6],[26]	$ 2,767
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	2,744
Fair Value	[1],[2],[3],[6],[26]	$ 2,695
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, Marble Point T/L, Financials, Interest Rate 10.77%, Reference Rate and Spread L + 6.00%, Floor Rate 1.00%, Maturity Date 8/11/2028
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	10.77%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	6%
Floor	[1],[2],[3],[6],[26]	1%
Maturity	[1],[2],[3],[6],[26]	Aug. 11, 2028
Par / Shares	[1],[2],[3],[6],[26]	$ 925
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	904
Fair Value	[1],[2],[3],[6],[26]	$ 925
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, Material Handling Systems, Inc., Information Technology, Interest Rate 10.09%, Reference Rate and Spread S + 5.50%, Floor Rate 1.00%, Maturity Date 6/29/2029
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	10.09%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	5.50%
Floor	[1],[2],[3],[6],[26]	1%
Maturity	[1],[2],[3],[6],[26]	Jun. 29, 2029
Par / Shares	[1],[2],[3],[6],[26]	$ 3,990
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	3,590
Fair Value	[1],[2],[3],[6],[26]	$ 3,471
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, Money Transfer Acquisition, Inc, Financials, Interest Rate 12.61%, Reference Rate and Spread S + 8.25%, Floor Rate 1.00%, Maturity Date 12/14/2027
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	12.61%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	8.25%
Floor	[1],[2],[3],[6],[26]	1%
Maturity	[1],[2],[3],[6],[26]	Dec. 14, 2027
Par / Shares	[1],[2],[3],[6],[26]	$ 4,000
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	3,909
Fair Value	[1],[2],[3],[6],[26]	$ 3,920
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, Monotype Imaging Holdings Corp., Incremental Tranche A-3 Term Loan, Information Technology, Interest Rate 10.27%, Reference Rate and Spread L + 5.50%, Floor Rate 1.00%, Maturity Date 10/9/2026
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26],[31]	10.27%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27],[31]	5.50%
Floor	[1],[2],[3],[6],[26],[31]	1%
Maturity	[1],[2],[3],[6],[26],[31]	Oct. 09, 2026
Par / Shares	[1],[2],[3],[6],[26],[31]	$ 3,856
Amortized cost	[1],[2],[3],[6],[8],[9],[26],[31]	3,800
Fair Value	[1],[2],[3],[6],[26],[31]	$ 3,765
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, NAVIGA INC., Information Technology, Interest Rate 11.68%, Reference Rate and Spread S + 7.00%, Floor Rate 1.00%, Maturity Date 12/30/2022 - One
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	11.68%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	7%
Floor	[1],[2],[3],[6],[26]	1%
Maturity	[1],[2],[3],[6],[26]	Dec. 30, 2022
Par / Shares	[1],[2],[3],[6],[26]	$ 1,991
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	1,981
Fair Value	[1],[2],[3],[6],[26]	$ 1,938
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, NAVIGA INC., Information Technology, Interest Rate 11.68%, Reference Rate and Spread S + 7.00%, Floor Rate 1.00%, Maturity Date 12/30/2022 - Three
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	11.68%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	7%
Floor	[1],[2],[3],[6],[26]	1%
Maturity	[1],[2],[3],[6],[26]	Dec. 30, 2022
Par / Shares	[1],[2],[3],[6],[26]	$ 1,875
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	1,859
Fair Value	[1],[2],[3],[6],[26]	$ 1,826
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, NAVIGA INC., Information Technology, Interest Rate 11.68%, Reference Rate and Spread S + 7.00%, Floor Rate 1.60%, Maturity Date 12/29/2023 - Two
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	11.68%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	7%
Floor	[1],[2],[3],[6],[26]	1.60%
Maturity	[1],[2],[3],[6],[26]	Dec. 29, 2023
Par / Shares	[1],[2],[3],[6],[26]	$ 208
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	206
Fair Value	[1],[2],[3],[6],[26]	$ 202
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, Neptune Bidco US Inc, Communication Services, Interest Rate 9.36%, Reference Rate and Spread S + 5.00%, Floor Rate 0.00%, Maturity Date 4/11/2029
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	9.36%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	5%
Floor	[1],[2],[3],[6],[26]	0%
Maturity	[1],[2],[3],[6],[26]	Apr. 11, 2029
Par / Shares	[1],[2],[3],[6],[26]	$ 3,500
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	3,168
Fair Value	[1],[2],[3],[6],[26]	$ 3,137
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, Premier Imaging, LLC, Healthcare, Interest Rate 10.15%, Reference Rate and Spread L + 5.75%, Floor Rate 0.00%, Maturity Date 12/29/2028 – Four
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	10.15%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	5.75%
Floor	[1],[2],[3],[6],[26]	0%
Maturity	[1],[2],[3],[6],[26]	Dec. 29, 2028
Par / Shares	[1],[2],[3],[6],[26]	$ 95
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	95
Fair Value	[1],[2],[3],[6],[26]	$ 94
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, Premier Imaging, LLC, Healthcare, Interest Rate 10.15%, Reference Rate and Spread L + 5.75%, Floor Rate 1.00%, Maturity Date 1/2/2025 – Five
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	10.15%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	5.75%
Floor	[1],[2],[3],[6],[26]	1%
Maturity	[1],[2],[3],[6],[26]	Jan. 02, 2025
Par / Shares	[1],[2],[3],[6],[26]	$ 1,769
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	1,759
Fair Value	[1],[2],[3],[6],[26]	$ 1,743
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, Premier Imaging, LLC, Healthcare, Interest Rate 10.15%, Reference Rate and Spread L + 5.75%, Floor Rate 1.00%, Maturity Date 1/2/2025 – One
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[7],[29]	10.15%
Reference Rate and Spread	[1],[2],[3],[6],[7],[27],[29]	5.75%
Floor	[1],[2],[3],[6],[7],[29]	1%
Maturity	[1],[2],[3],[6],[7],[29]	Jan. 02, 2025
Par / Shares	[1],[2],[3],[6],[7],[29]	$ 90
Amortized cost	[1],[2],[3],[6],[7],[8],[9],[29]	25
Fair Value	[1],[2],[3],[6],[7],[29]	$ 24
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, Premier Imaging, LLC, Healthcare, Interest Rate 10.15%, Reference Rate and Spread L + 5.75%, Floor Rate 1.00%, Maturity Date 1/2/2025 – Three
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	10.15%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	5.75%
Floor	[1],[2],[3],[6],[26]	1%
Maturity	[1],[2],[3],[6],[26]	Jan. 02, 2025
Par / Shares	[1],[2],[3],[6],[26]	$ 937
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	933
Fair Value	[1],[2],[3],[6],[26]	$ 923
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, Premier Imaging, LLC, Healthcare, Interest Rate 10.15%, Reference Rate and Spread L + 5.75%, Floor Rate 1.00%, Maturity Date 1/2/2025 – Two
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	10.15%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	5.75%
Floor	[1],[2],[3],[6],[26]	1%
Maturity	[1],[2],[3],[6],[26]	Jan. 02, 2025
Par / Shares	[1],[2],[3],[6],[26]	$ 966
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	963
Fair Value	[1],[2],[3],[6],[26]	$ 952
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, Project Leopard Holdings Company Inc, Information Technology, Interest Rate 9.71%, Reference Rate and Spread S + 5.35%, Floor Rate 1.00%, Maturity Date 7/20/2029
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26],[31]	9.71%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27],[31]	5.35%
Floor	[1],[2],[3],[6],[26],[31]	1%
Maturity	[1],[2],[3],[6],[26],[31]	Jul. 20, 2029
Par / Shares	[1],[2],[3],[6],[26],[31]	$ 4,000
Amortized cost	[1],[2],[3],[6],[8],[9],[26],[31]	3,733
Fair Value	[1],[2],[3],[6],[26],[31]	$ 3,663
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, RN Enterprises, LLC, Healthcare, Interest Rate 10.86%, Reference Rate and Spread S + 6.50%, Floor Rate 1.00%, Maturity Date 12/23/2025
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	10.86%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	6.50%
Floor	[1],[2],[3],[6],[26]	1%
Maturity	[1],[2],[3],[6],[26]	Dec. 23, 2025
Par / Shares	[1],[2],[3],[6],[26]	$ 980
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	960
Fair Value	[1],[2],[3],[6],[26]	$ 960
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, RSA Security, LLC, Information Technology, Interest Rate 12.52%, Reference Rate and Spread L + 7.75%, Floor Rate 0.75%, Maturity Date 4/27/2029
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26],[31]	12.52%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27],[31]	7.75%
Floor	[1],[2],[3],[6],[26],[31]	0.75%
Maturity	[1],[2],[3],[6],[26],[31]	Apr. 27, 2029
Par / Shares	[1],[2],[3],[6],[26],[31]	$ 4,000
Amortized cost	[1],[2],[3],[6],[8],[9],[26],[31]	3,939
Fair Value	[1],[2],[3],[6],[26],[31]	$ 2,028
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, Reception Purchaser, LLC, Transportation, Interest Rate 10.36%, Reference Rate and Spread S + 6.00%, Floor Rate 1.50%, Maturity Date 5/31/2028
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	10.36%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	6%
Floor	[1],[2],[3],[6],[26]	1.50%
Maturity	[1],[2],[3],[6],[26]	May 31, 2028
Par / Shares	[1],[2],[3],[6],[26]	$ 1,990
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	1,962
Fair Value	[1],[2],[3],[6],[26]	$ 1,953
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, San Vicente Capital LLC, Information Technology, Interest Rate 12.77%, Reference Rate and Spread L + 8.00%, Floor Rate 1.50%, Maturity Date 11/15/2027
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	12.77%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	8%
Floor	[1],[2],[3],[6],[26]	1.50%
Maturity	[1],[2],[3],[6],[26]	Nov. 15, 2027
Par / Shares	[1],[2],[3],[6],[26]	$ 2,049
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	2,024
Fair Value	[1],[2],[3],[6],[26]	$ 2,036
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, Symplr Software Inc, Information Technology, Interest Rate 8.86%, Reference Rate and Spread S + 4.50%, Floor Rate 0.75%, Maturity Date 12/22/2027
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26],[31]	8.86%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27],[31]	4.50%
Floor	[1],[2],[3],[6],[26],[31]	0.75%
Maturity	[1],[2],[3],[6],[26],[31]	Dec. 22, 2027
Par / Shares	[1],[2],[3],[6],[26],[31]	$ 1,125
Amortized cost	[1],[2],[3],[6],[8],[9],[26],[31]	1,122
Fair Value	[1],[2],[3],[6],[26],[31]	$ 945
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, TLE Holdings, LLC, Consumer Discretionary, Interest Rate 11.14%, Reference Rate and Spread L + 6.00%, Floor Rate 1.00%, Maturity Date 6/28/2024
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	11.14%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	6%
Floor	[1],[2],[3],[6],[26]	1%
Maturity	[1],[2],[3],[6],[26]	Jun. 28, 2024
Par / Shares	[1],[2],[3],[6],[26]	$ 967
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	965
Fair Value	[1],[2],[3],[6],[26]	$ 960
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, Virgin Pulse, Inc., Information Technology, Interest Rate 12.02%, Reference Rate and Spread L + 7.25%, Floor Rate 0.75%, Maturity Date 4/6/2029
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	12.02%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	7.25%
Floor	[1],[2],[3],[6],[26]	0.75%
Maturity	[1],[2],[3],[6],[26]	Apr. 06, 2029
Par / Shares	[1],[2],[3],[6],[26]	$ 3,000
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	2,975
Fair Value	[1],[2],[3],[6],[26]	$ 2,599
Investment, Identifier [Axis]: Investment in Senior Secured Loan - 193.2%, Wonder Love Inc, Communication Services, Interest Rate 9.77%, Reference Rate and Spread L + 5.00%, Floor Rate 1.00%, Maturity Date 11/18/2024
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26]	9.77%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27]	5%
Floor	[1],[2],[3],[6],[26]	1%
Maturity	[1],[2],[3],[6],[26]	Nov. 18, 2024
Par / Shares	[1],[2],[3],[6],[26]	$ 650
Amortized cost	[1],[2],[3],[6],[8],[9],[26]	645
Fair Value	[1],[2],[3],[6],[26]	$ 650
Investment, Identifier [Axis]: Investment in Senior Secured Loan – 177.4%, ALCV Purchaser, Inc., Consumer Discretionary, Interest Rate 12.10%, Reference Rate and Spread S + 6.75%, Floor 1.00%, Maturity Date 2/26/2026
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			12.10%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			6.75%
Floor	[6],[10],[11],[12],[15],[22]			1%
Maturity	[6],[10],[11],[12],[15],[22]			Feb. 26, 2026
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 2,125
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			2,109
Fair Value	[6],[10],[11],[12],[15],[22]			$ 2,101
Investment, Identifier [Axis]: Investment in Senior Secured Loan – 185.0%, AG Parent Holdings , Information Technology, Interest Rate 10.33 %, Reference Rate and Spread S + 5.00% %, Floor Rate 1.00%, Maturity Date 7/30/2026
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22],[23],[32]			10.33%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22],[23],[32]			5%
Floor	[6],[10],[11],[12],[15],[22],[23],[32]			1%
Maturity	[6],[10],[11],[12],[15],[22],[23],[32]			Jul. 30, 2026
Par / Shares	[6],[10],[11],[12],[15],[22],[23],[32]			$ 1,003
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22],[23],[32]			980
Fair Value	[6],[10],[11],[12],[15],[22],[23],[32]			$ 983
Investment, Identifier [Axis]: Investment in Senior Secured Loan – 185.0%, Accordion Partners LLC 1, Financials , Interest Rate 11.85%, Reference Rate and Spread S + 6.50%, Floor Rate 0.00%, Maturity Date 9/30/2028
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[18],[22]			11.85%
Reference Rate and Spread	[6],[10],[11],[12],[15],[18],[21],[22]			6.50%
Floor	[6],[10],[11],[12],[15],[18],[22]			0%
Maturity	[6],[10],[11],[12],[15],[18],[22]			Sep. 30, 2028
Par / Shares	[6],[10],[11],[12],[15],[18],[22]			$ 768
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[18],[22]			704
Fair Value	[6],[10],[11],[12],[15],[18],[22]			$ 789
Investment, Identifier [Axis]: Investment in Senior Secured Loan – 185.0%, Accurate Background LLC , Information Technology, Interest Rate 11.33%, Reference Rate and Spread S + 6.00%, Floor Rate 0.00%, Maturity Date 3/26/2027
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			11.33%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			6%
Floor	[6],[10],[11],[12],[15],[22]			0%
Maturity	[6],[10],[11],[12],[15],[22]			Mar. 26, 2027
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 494
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			462
Fair Value	[6],[10],[11],[12],[15],[22]			$ 475
Investment, Identifier [Axis]: Investment in Senior Secured Loan – 185.0%, Accurate Background LLC, Information Technology, Interest Rate 11.33%, Reference Rate and Spread S + 6.00%, Floor Rate 1.00%, Maturity Date 3/26/2027
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			11.33%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			6%
Floor	[6],[10],[11],[12],[15],[22]			1%
Maturity	[6],[10],[11],[12],[15],[22]			Mar. 26, 2027
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 2,931
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			2,758
Fair Value	[6],[10],[11],[12],[15],[22]			$ 2,818
Investment, Identifier [Axis]: Investment in Senior Secured Loan – 185.0%, Advantage Capital Holdings LLC , Financials, Interest Rate 13.00%, Reference Rate and Spread NA , Floor Rate 0.00%, Maturity Date 4/14/2027
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22],[32]			13%
Floor	[6],[10],[11],[12],[15],[22],[32]			0%
Maturity	[6],[10],[11],[12],[15],[22],[32]			Apr. 14, 2027
Par / Shares	[6],[10],[11],[12],[15],[22],[32]			$ 4,400
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22],[32]			4,400
Fair Value	[6],[10],[11],[12],[15],[22],[32]			$ 4,318
Investment, Identifier [Axis]: Investment in Senior Secured Loan – 185.0%, Beta Plus Technologies, Inc, Information Technology, Interest Rate 11.10%, Reference Rate and Spread S + 5.75%, Floor Rate 0.00%, Maturity Date 6/29/2029
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[18],[22],[24]			11.10%
Reference Rate and Spread	[6],[10],[11],[12],[15],[18],[21],[22],[24]			5.75%
Floor	[6],[10],[11],[12],[15],[18],[22],[24]			0%
Maturity	[6],[10],[11],[12],[15],[18],[22],[24]			Jun. 29, 2029
Par / Shares	[6],[10],[11],[12],[15],[18],[22],[24]			$ 53
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[18],[22],[24]			53
Fair Value	[6],[10],[11],[12],[15],[18],[22],[24]			$ 32
Investment, Identifier [Axis]: Investment in Senior Secured Loan – 185.0%, Beta Plus Technologies, Inc., Information Technology, Interest Rate 11.10%, Reference Rate and Spread S + 5.75%, Floor Rate 0.00%, Maturity Date 6/29/2029 - One
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			11.10%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			5.75%
Floor	[6],[10],[11],[12],[15],[22]			0%
Maturity	[6],[10],[11],[12],[15],[22]			Jun. 29, 2029
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 2,742
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			2,595
Fair Value	[6],[10],[11],[12],[15],[22]			$ 2,633
Investment, Identifier [Axis]: Investment in Senior Secured Loan – 185.0%, C.P. Converters, Inc., 12th Amendment Acquisition Loan, Industrials, Interest Rate 11.83%, Reference Rate and Spread S + 6.50%, Floor Rate 1.00%, Maturity Date 9/30/2024
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			11.83%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			6.50%
Floor	[6],[10],[11],[12],[15],[22]			1%
Maturity	[6],[10],[11],[12],[15],[22]			Sep. 30, 2024
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 375
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			370
Fair Value	[6],[10],[11],[12],[15],[22]			$ 378
Investment, Identifier [Axis]: Investment in Senior Secured Loan – 185.0%, C.P. Converters, Inc., Seventh Amendment Acquisition Loan, Industrials, Interest Rate 11.83%, Reference Rate and Spread S + 6.50%, Floor Rate 1.00%, Maturity Date 9/30/2024
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22],[23]			11.83%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22],[23]			6.50%
Floor	[6],[10],[11],[12],[15],[22],[23]			1%
Maturity	[6],[10],[11],[12],[15],[22],[23]			Sep. 30, 2024
Par / Shares	[6],[10],[11],[12],[15],[22],[23]			$ 1,741
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22],[23]			1,730
Fair Value	[6],[10],[11],[12],[15],[22],[23]			$ 1,759
Investment, Identifier [Axis]: Investment in Senior Secured Loan – 185.0%, CenExcel Clinicial Research Holdings, Inc, Healthcare, Interest Rate 11.83%, Reference Rate and Spread S + 6.50%, Floor Rate 0.00%, Maturity Date 11/10/2025
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			11.83%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			6.50%
Floor	[6],[10],[11],[12],[15],[22]			0%
Maturity	[6],[10],[11],[12],[15],[22]			Nov. 10, 2025
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 361
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			361
Fair Value	[6],[10],[11],[12],[15],[22]			$ 361
Investment, Identifier [Axis]: Investment in Senior Secured Loan – 185.0%, Critical Nurse Staffing LLC 1, Healthcare, Interest Rate 11.33%, Reference Rate and Spread S + 6.00%, Floor Rate 1.00%, Maturity Date 10/30/2026 - One
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[18],[22]			11.33%
Reference Rate and Spread	[6],[10],[11],[12],[15],[18],[21],[22]			6%
Floor	[6],[10],[11],[12],[15],[18],[22]			1%
Maturity	[6],[10],[11],[12],[15],[18],[22]			Oct. 30, 2026
Par / Shares	[6],[10],[11],[12],[15],[18],[22]			$ 674
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[18],[22]			666
Fair Value	[6],[10],[11],[12],[15],[18],[22]			$ 663
Investment, Identifier [Axis]: Investment in Senior Secured Loan – 185.0%, Critical Nurse Staffing LLC, Healthcare, Interest Rate 11.83%, Reference Rate and Spread S + 6.50%, Floor Rate 1.00%, Maturity Date 10/30/2026
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22],[23]			11.83%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			6.50%
Floor	[6],[10],[11],[12],[15],[22],[23]			1%
Maturity	[6],[10],[11],[12],[15],[22],[23]			Oct. 30, 2026
Par / Shares	[6],[10],[11],[12],[15],[22],[23]			$ 3,990
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22],[23]			3,911
Fair Value	[6],[10],[11],[12],[15],[22],[23]			$ 3,930
Investment, Identifier [Axis]: Investment in Senior Secured Loan – 185.0%, Critical Nurse Staffing LLC., Healthcare, Interest Rate 11.33%, Reference Rate and Spread S + 6.00%, Floor Rate 1.00%, Maturity Date 10/30/2026
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			11.33%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			6%
Floor	[6],[10],[11],[12],[15],[22]			1%
Maturity	[6],[10],[11],[12],[15],[22]			Oct. 30, 2026
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 52
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			52
Fair Value	[6],[10],[11],[12],[15],[22]			$ 51
Investment, Identifier [Axis]: Investment in Senior Secured Loan – 185.0%, DRI Holdings Inc, Information Technology, Interest Rate 10.60%, Reference Rate and Spread S + 5.25%, Floor Rate 0.50%, Maturity Date 12/21/2028
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22],[23]			10.60%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22],[23]			5.25%
Floor	[6],[10],[11],[12],[15],[22],[23]			0.50%
Maturity	[6],[10],[11],[12],[15],[22],[23]			Dec. 21, 2028
Par / Shares	[6],[10],[11],[12],[15],[22],[23]			$ 4,927
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22],[23]			4,622
Fair Value	[6],[10],[11],[12],[15],[22],[23]			$ 4,515
Investment, Identifier [Axis]: Investment in Senior Secured Loan – 185.0%, Datalink, LLC, Healthcare, Interest Rate 11.60%, Reference Rate and Spread S + 6.25%, Floor Rate 1.00%, Maturity Date 11/23/2026
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			11.60%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			6.25%
Floor	[6],[10],[11],[12],[15],[22]			1%
Maturity	[6],[10],[11],[12],[15],[22]			Nov. 23, 2026
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 3,103
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			3,056
Fair Value	[6],[10],[11],[12],[15],[22]			$ 3,102
Investment, Identifier [Axis]: Investment in Senior Secured Loan – 185.0%, Florida Foods Products, LLC, Consumer Staples, Interest Rate 10.33%, Reference Rate and Spread S + 5.00%, Floor Rate 1.00%, Maturity Date 10/18/2028 - One
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[22]			10.33%
Reference Rate and Spread	[6],[10],[11],[12],[15],[21],[22]			5%
Floor	[6],[10],[11],[12],[15],[22]			1%
Maturity	[6],[10],[11],[12],[15],[22]			Oct. 18, 2028
Par / Shares	[6],[10],[11],[12],[15],[22]			$ 1,965
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[22]			1,936
Fair Value	[6],[10],[11],[12],[15],[22]			$ 1,724
Investment, Identifier [Axis]: Investment in Structured Note - 5.7%, Churchill Middle Market CLO IV Ltd., Class E-2 Notes, Collateralized Loan Obligation - Debt Class, Interest Rate 14.33%, Reference Rate and Spread S + 9.00%, Floor Rate 0.00%, Maturity Date 1/23/2032
Schedule of Investments [Line Items]
Interest Rate	[6],[10],[11],[12],[15],[19],[22]			14.33%
Reference Rate and Spread	[6],[10],[11],[12],[15],[19],[21],[22]			9%
Floor	[6],[10],[11],[12],[15],[19],[22]			0%
Maturity	[6],[10],[11],[12],[15],[19],[22]			Jan. 23, 2032
Par / Shares	[6],[10],[11],[12],[15],[19],[22]			$ 3,900
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[19],[22]			3,840
Fair Value	[6],[10],[11],[12],[15],[19],[22]			3,860
Investment, Identifier [Axis]: Investment in Structured Note - 8.3%, Churchill Middle Market CLO IV Ltd., Class E-2 Notes, Collateralized Loan Obligation - Debt Class, Interest Rate 13.77%, Reference Rate and Spread L + 9.00%, Floor Rate 0.00%, Maturity Date 1/23/2032
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[26],[33]	13.77%
Reference Rate and Spread	[1],[2],[3],[6],[26],[27],[33]	9%
Floor	[1],[2],[3],[6],[26],[33]	0%
Maturity	[1],[2],[3],[6],[26],[33]	Jan. 23, 2032
Par / Shares	[1],[2],[3],[6],[26],[33]	$ 3,900
Amortized cost	[1],[2],[3],[6],[8],[9],[26],[33]	3,840
Fair Value	[1],[2],[3],[6],[26],[33]	$ 3,731
Investment, Identifier [Axis]: Investment in Structured Note - 8.3%, Halsey Point CLO II Ltd., Class E, Collateralized Loan Obligation - Debt Class, Interest Rate 7.77%, Reference Rate and Spread L + 3.00%, Floor Rate 0.00%, Maturity Date 7/20/2031
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[33]	7.77%
Reference Rate and Spread	[1],[2],[3],[6],[27],[33]	3%
Floor	[1],[2],[3],[6],[33]	0%
Maturity	[1],[2],[3],[6],[33]	Jul. 20, 2031
Par / Shares	[1],[2],[3],[6],[33]	$ 333
Amortized cost	[1],[2],[3],[6],[8],[9],[33]	233
Fair Value	[1],[2],[3],[6],[33]	$ 322
Investment, Identifier [Axis]: Investment in Subordinated Structured Note - 0.6%, Halsey Point CLO II Ltd., Class Subordinated Notes, Collateralized Loan Obligation - Equity Class, Interest Rate 7.77%, Reference Rate and Spread L + 3.00%, Floor Rate 0.00%, Maturity Date 7/20/2031
Schedule of Investments [Line Items]
Interest Rate	[1],[2],[3],[6],[33],[34]	7.77%
Reference Rate and Spread	[1],[2],[3],[6],[27],[33],[34]	3%
Floor	[1],[2],[3],[6],[33],[34]	0%
Maturity	[1],[2],[3],[6],[33],[34]	Jul. 20, 2031
Par / Shares	[1],[2],[3],[6],[33],[34]	$ 333
Amortized cost	[1],[2],[3],[6],[8],[9],[33],[34]	333
Fair Value	[1],[2],[3],[6],[33],[34]	281
Investment, Identifier [Axis]: Total Equity/Other
Schedule of Investments [Line Items]
Amortized cost	[6]	725	[1],[2],[3],[8],[9]	1,981	[10],[11],[12],[15],[16],[17]
Fair Value	[6]	2,036	[1],[2],[3]	3,765	[10],[11],[12],[15]
Investment, Identifier [Axis]: Total Forward contracts
Schedule of Investments [Line Items]
Unrealized appreciation	[35]	55
Investment, Identifier [Axis]: Total Investments - 196.2%
Schedule of Investments [Line Items]
Amortized cost	[6],[10],[11],[12],[15],[16],[17],[19]			135,332
Fair Value	[6],[10],[11],[12],[15],[19]			133,675
Investment, Identifier [Axis]: Total Investments - 206.3%
Schedule of Investments [Line Items]
Amortized cost	[8],[9]	106,156
Fair Value		100,417
Investment, Identifier [Axis]: Total Senior Secured Loan
Schedule of Investments [Line Items]
Amortized cost		101,025	[8],[9]	129,511	[6],[10],[11],[12],[15],[16],[17]
Fair Value		94,047		126,050	[6],[10],[11],[12],[15]
Investment, Identifier [Axis]: Total Structured Note
Schedule of Investments [Line Items]
Amortized cost	[6]	4,073	[1],[2],[3],[8],[9]	3,840	[10],[11],[12],[15],[16],[17]
Fair Value	[6]	4,053	[1],[2],[3]	$ 3,860	[10],[11],[12],[15]
Investment, Identifier [Axis]: Total Subordinated Structured Note
Schedule of Investments [Line Items]
Amortized cost	[8],[9]	333
Fair Value		$ 281
[1] All investments are non-controlled/non-affiliated investments as defined by the 1940 Act. The provisions of the 1940 Act classify investments based on the level of control that the Company maintains in a particular portfolio company. All of the Company's investments are issued by eligible portfolio companies, as defined in the Investment Company Act of 1940 (the “1940 Act”), unless otherwise noted. All of the Company's investments are issued by U.S. portfolio companies unless otherwise noted. Except as otherwise noted, certain of the Company’s portfolio company investments are subject to legal restrictions on sales. Non-income producing investment. Ownership of equity investments may occur through a holding company. Percentages are based on the net assets. All or a portion of this commitment was unfunded at December 31, 2022. As of December 31, 2022, the estimated cost basis of investments for U.S. federal tax purposes was $ 106,156 , resulting in estimated gross unrealized appreciation and depreciation of $ 1,766 and $( 7,449 ), respectively. The amortized cost represents the initial cost adjusted for the accretion of discount or amortization of premium, as applicable, on debt investments using the effective interest method. All investments are non-controlled/non-affiliated investments as defined by the 1940 Act. The provisions of the 1940 Act classify investments based on the level of control that the Comp any maintains in a particular portfolio company unless otherwise noted. All of the Company's investments are issued by eligible portfolio companies, as defined in the Investment Company Act of 1940 (the “1940 Act”), unless otherwise noted. All of the Company's investments are issued by U.S. portfolio companies unless otherwise noted. Except as otherwise noted, certain of the Company’s portfolio company investments are subject to legal restrictions on sales. Non-income producing investment. Ownership of equity investments may occur through a holding company. Percentages are based on the net assets. As of December 31, 2023 , the estimated cost basis of investments for U.S. federal tax purposes was $ 135,332 , resulting in estimated gross unrealized appreciation and depreciation of $ 2,652 and $( 4,309 ), respectively. The amortized cost represents the initial cost adjusted for the accretion of discount or amortization of premium, as applicable, on debt investments using the effective interest method. All or a portion of this commitment was unfunded at December 31, 2023 . Investments the Company has determined are not qualifying assets under Section 55(a) of the 1940 Act. The status of these assets under the 1940 Act is subject to change. The Company monitors the status of these assets on an ongoing basis. Under the 1940 Act, the Company may not acquire any non-qualifying asset unless, at the time such acquisition is made, qualifying assets represent at least 70 % of total assets. Non-qualifying assets represented 4.2 % of total assets as of December 31, 2023 . Under the 1940 Act, the Company is deemed to be an “Affiliated Person” of, as defined in the 1940 Act, this portfolio company as the Company owns at least 5% of the portfolio company’s outstanding voting securities or is under common control with such portfolio company. Represents the actual interest rate for p artially or fully funded debt in effect as of the reporting date. Variable rate loans bear interest at a rate that may be determined by the larger of the floor of the reference to Secured Overnight Financing Rate ("SOFR" or "S") or alternate base rate (commonly known as the U.S. Prime Rate ("P"), unless otherwise noted) at the borrower's option, which reset periodically based on the terms of the credit agreement. As of December 31, 2023 , rates for 3 months and 1 month S ("SOFR") are 5.33 % and 5.35 %. Security, or a portion thereof, is held through Great Lakes BCPL Funding Ltd., a wholly-owned subsidiary and a bankruptcy remote special purpose entity, and is pledged as collateral supporting the amounts outstanding under the debt financing facility at Great Lakes BCPL Funding Ltd. (See Note 5 in the accompanying consolidated unaudited financial statements). Other than the investments noted by this footnote, the fair value of each of the Company’s investments is determined in good faith using significant unobservable inputs by the Adviser in its role as “valuation designee” in accordance with Rule 2a-5 under the 1940 Act, pursuant to valuation policies and procedures that have been approved by the Company’s board of directors (the "Board"). The date disclosed represents the commitment period of the unfunded term loan. The negative cost is the result of the capitalized discount being greater than the principal amount outstanding on the loan. The negative fair value is the result of the capitalized discount on the loan. Security, or a portion thereof, is held through Great Lakes BCPL Funding Ltd., a wholly-owned subsidiary and a bankruptcy remote special purpose entity, and is pledged as collateral supporting the amounts outstanding under the debt financing facility at Great Lakes BCPL Funding Ltd. (See Note 5 in the accompanying consolidated unaudited financial statements). Represents the actual interest rate for partially or fully funded debt in effect as of the reporting date. Variable rate loans bear interest at a rate that may be determined by the larger of the floor of the reference to either LIBOR ("L") or Secured Overnight Financing Rate ("SOFR" or "S") or alternate base rate (commonly known as the U.S. Prime Rate ("P"), unless otherwise noted) at the borrower's option, which reset periodically based on the terms of the credit agreement. L loans are typically indexed to 12 month, 6 month, 3 month, 2 month, or 1 month L rates. As of December 31, 2022, rates for the 6 month, 3 month, and 1 month L are 5.14 %, 4.77 %, and 4.39 %, respectively. As of December 31, 2022, rates for 3 months and 1 month S ("SOFR") are 4.59 % and 4.36 %. Investment bears interest at 12 % per year with such interest to be paid, at the election of the borrower in cash or paid-in kind (“PIK”) interest. To the extent that any portion of interest is in the form of PIK interest, the interest rate is increased to 13 % with a minimum of 5 % of the total interest in the form of cash interest (i.e., 5 % cash interest and 8 % PIK interest). The date disclosed represents the commitment period of the unfunded term loan. The negative cost is the result of the capitalized discount being greater than the principal amount outstanding on the loan. The negative fair value is the result of the capitalized discount on the loan. Other than the investments noted by this footnote, the fair value of each of the Company’s investments is determined in good faith using significant unobservable inputs by the Adviser in its role as “valuation designee” in accordance with Rule 2a-5 under the 1940 Act, pursuant to valuation policies and procedures that have been approved by the Company’s board of directors (the "Board"). Investment bears interest at 12 % per year with such interest to be paid, at the election of the borrower in cash or paid-in kind (“PIK”) interest. To the extent that any portion of interest is in the form of PIK interest, the interest rate is increased to 13 % with a minimum of 5 % of the total interest in the form of cash interest (i.e., 5 % cash interest and 8 % PIK interest). Investments the Company has determined are not qualifying assets under Section 55(a) of the 1940 Act. The status of these assets under the 1940 Act is subject to change. The Company monitors the status of these assets on an ongoing basis. Under the 1940 Act, the Company may not acquire any non-qualifying asset unless, at the time such acquisition is made, qualifying assets represent at least 70 % of total assets. Non-qualifying assets represented 4.0 % of total assets as of December 31, 2022. This investment is in the subordinated note of the collateralized loan obligation security, which is entitled to recurring distributions that are generally equal to the excess cash flow generated from the underlying investments after payment of the contractual payments in debt holders and fund expenses. The current estimated yield, calculated using amortized cost, is based on the current projections of this excess cash flow taking into account assumptions made regarding expected prepayments, losses and future reinvestment rates. These assumptions are periodically reviewed and adjusted. Ultimately, the actual yield may be higher or lower than the estimated yield if actual results differ from those used for the assumptions. The Company may sell any of the referenced securities in whole or in part to any third-party prior to the settlement date of the forward contracts without consent of the counterparty. Upon such sale to a third-party, the Company and counterparty shall have no further obligations in resp ect of that specific amount of referenced security sold.

Consolidated Schedule of Inve_2

Consolidated Schedule of Investments (Parenthetical) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended		6 Months Ended	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Schedule of Investments [Line Items]
London interbank offered rate , percentage		4.39%		4.77%	5.14%
Secured overnight financing rate, percentage	5.35%	4.36%	5.33%	4.59%
Qualifying assets, percentage						70%	70%
Non-qualifying assets, percentage						4.20%	4%
Investment interest rate	12%	12%	12%	12%	12%	12%	12%
Investment, increase in interest rate, paid in kind						13%	13%
Investment total interest rate paid In kind						5%	5%
Investment, interest rate, paid in kind	8%	8%	8%	8%	8%	8%	8%
Investment, interest rate, paid in cash	5%	5%	5%	5%	5%	5%	5%
Domestic Tax Authority [Member]
Schedule of Investments [Line Items]
Cost basis of investments	$ 135,332	$ 106,156	$ 135,332	$ 106,156	$ 106,156	$ 135,332	$ 106,156
Unrealized appreciation	2,652	1,766	2,652	1,766	1,766	2,652	1,766
Unrealized depreciation	$ (4,309)	$ (7,449)	$ (4,309)	$ (7,449)	$ (7,449)	$ (4,309)	$ (7,449)

N-2

N-2 - $ / shares

12 Months Ended

Dec. 31, 2023

Sep. 30, 2023

Jun. 30, 2023

Mar. 31, 2023

Dec. 31, 2022

[1]

Sep. 30, 2022

Jun. 30, 2022

Mar. 31, 2022

Dec. 31, 2021

[1]

Sep. 30, 2021

Jun. 30, 2021

Mar. 31, 2021

Dec. 31, 2020

[1]

Dec. 31, 2019

[1]

Oct. 02, 2019

Cover [Abstract]

Entity Central Index Key

0001726548

Amendment Flag

false

Securities Act File Number

814-01269

Document Type

10-K

Entity Registrant Name

BC Partners Lending Corporation

Entity Address, Address Line One

650 Madison Avenue

Entity Address, City or Town

New York

Entity Address, State or Province

NY

Entity Address, Postal Zip Code

10022

City Area Code

212

Local Phone Number

891-2880

Entity Well-known Seasoned Issuer

No

Entity Emerging Growth Company

true

Entity Ex Transition Period

false

Other Transaction Expenses [Abstract]

Annual Expenses [Table Text Block]

Expenses Expenses for the years ended December 31, 2023, 2022 and 2021 were as follows: For the Years Ended December 31, 2023 2022 2021 Organization and offering costs $ 30 $ 153 $ 12 Management fees 1,237 982 946 Incentive fees 1,142 146 651 Administrative fees 616 507 459 Interest and debt expenses 5,279 2,613 1,632 Audit fees 215 200 203 Legal fees 394 438 458 Professional fees 358 342 161 Directors' fees 150 150 150 Other expenses 312 372 683 Total expenses before expense support 9,733 5,903 5,355 Expense support repayment to related parties 1,383 827 269 Net expenses $ 11,116 $ 6,730 $ 5,624 Total expenses before expense support were $9.7 million, $5.9 million and $5.4 million for the years ended December 31, 2023, 2022 and 2021 respectively. Management fees were $1.2 million, $1.0 million and $0.9 million, for the years ended December 31, 2023, 2022, and 2021. All organization and offering costs since inception through December 31, 2023 were funded by the Adviser and we will have no responsibility for such costs until the Adviser submits such costs, or a portion thereof, for reimbursement, subject to a cap of 1.50% of our total commitments and provided further that the Adviser or its affiliates may not be reimbursed for payment of excess organization and offering expenses that were incurred more than three years prior to the proposed reimbursement. For the years ended December 31, 2023, 2022, 2021 we accrued organization and offering costs of $0.03 million, $0.15 million and $12 thousand, respectively. During the years ended December 31, 2023, 2022 and 2021 we incurred $5.3 million, $2.6 million and $1.6 million, respectively, of interest and debt expenses related to our facility. For the years ended December 31, 2023, 2022 and 2021 legal fees were $0.4 million, $0.4 million and $0.5 million, respectively. We expect our operating expenses related to our ongoing operations to increase in the next several quarters because of the anticipated growth in the size of our asset base. We expect operating expenses as a percentage of our total assets to decrease during periods of asset growth. On August 22, 2019, we entered into an Expense Support Agreement with the Adviser to ensure that no portion of distributions made to our stockholders would be paid from our offering proceeds or borrowings. Commencing with the fourth quarter 2019 and on a quarterly basis thereafter, pursuant to the Expense Support Agreement between us and the Adviser, the Adviser would reimburse us for operating expenses in an amount that is sufficient to ensure that our net investment income and net short-term capital gains are equal to or greater than the cumulative distributions paid to our stockholders in each quarter. The Expense Support Agreement expired pursuant to its terms on September 26, 2022, other than with respect to reimbursement payments that the Adviser may be entitled to from the Company pursuant to the Expense Support Agreement, for a period of three years following the last business day of the calendar quarter in which the Adviser reimbursed the Company. This arrangement is designed to ensure that no portion of distributions made to our shareholders would be paid from offering proceeds or borrowings. The specific amount of expenses reimbursed by the Adviser was determined at the end of each quarter. During the years ended December 31, 2023, 2022 and 2021, reimbursements from the Adviser totaled, $1.4 million, $0.8 million and $0.3 million, respectively. Amounts due to the Adviser for the expected recoveries of organization, offering and operating expenses incurred on behalf of the Company, and amounts due from the Adviser under the Expense Support Agreement for such amounts, are reflected on a net basis in amounts due to/from affiliates on the consolidated statements of assets and liabilities. Net Realized and Unrealized Gains or Losses Our investments are generally purchased at a discount to par. We sold and received principal repayments of $29.5 million, $29.8 million, $117.4 million, respectively, during the years ended December 31, 2023, 2022 and 2021, from which we realized net gains (losses) totaling $(2.1) million, $(0.2) million, and $2.1 million. We recognized gains on partial principal repayments we received at par value. For the periods ended December 31, 2023, 2022 and 2022, the net change in unrealized appreciation (depreciation) on investments totaled $4.0 million and $(6.5) million and $0.2 million, respectively. The change in unrealized appreciation/depreciation on investments during the year ended December 31, 2023, was primarily due to the rising interest rate environment. Net Increase in Net Assets Resulting from Operations For the years ended December 31, 2023, 2022 and 2021 the net increase (decrease) in net assets resulting from operations was $7.1 million, $(4.1) million, and $4.3 million or $2.52 per share, $(2.15) per share, ad $2.53 per share, respectively.

General Description of Registrant [Abstract]

Risk Factors [Table Text Block]

Item 1A. Risk Factors. Investing in our securities involves a number of significant risks. The risk factors described below are the principal risk factors associated with an investment in our securities as well as those factors generally associated with an investment company with investment objectives, investment policies, capital structure or trading markets similar to ours. You should carefully consider the risk factors described below, together with all of the other information included in this Annual Report, including our consolidated financial statements and the related notes thereto, before you decide whether to make an investment in our securities. The risks set out below are not the only risks we face. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial may also materially and adversely affect our business, financial condition and/or operating results. If any of the following events occur, our business, financial condition and results of operations could be materially and adversely affected. In such case, the net asset value of our securities could decline, and you may lose all or part of your investment. Risks Related To Our Business And Structure We are a relatively new company and have a limited operating history. Although the investment professionals of BCP Credit and the Adviser have substantial credit-oriented investment experience generally (including, in certain instances, at their prior firm(s)), the Company and the Adviser have minimal operating history and we have no financial information on which a prospective investor can evaluate an investment in our common stock or our prior performance. The sponsoring of the Company and the BCP Credit platform represents a new business initiative for BC Partners LLP and there can be no assurance that it will be successful. Members of the Investment Team have not previously worked together at BC Partners LLP prior to the formation of the BCP Credit platform. As a result, we are subject to the business risks and uncertainties associated with recently formed businesses, including the risk that we will not achieve our investment objective and the value of a stockholder’s investment could decline substantially or become worthless. While we believe that the past professional experiences, including investment and financial experience of the Investment Team will increase the likelihood that the Adviser will be able to manage the Company successfully, there can be no assurance that this will be the case. Our Board may change our investment objective, operating policies and strategies without prior notice or stockholder approval, the effects of which may be adverse to our results of operations and financial condition. Our Board has the authority to modify or waive our current investment objective, operating policies, investment criteria and strategies without prior notice and without stockholder approval. We cannot predict the effect any changes to our current operating policies, investment criteria and strategies would have on our business, net asset value, operating results and value of our securities. However, the effects might be adverse, which could negatively impact our ability to make distributions and cause you to lose all or part of your investment. Moreover, we have significant flexibility in investing our assets and may invest in ways investors may not agree with or in the future may invest in ways other than those previously disclosed or disclosed herein. Price declines in the medium- and large-sized U.S. corporate debt market may adversely affect the fair value of our portfolio, reducing our net asset value through increased net unrealized depreciation. Conditions in the medium- and large-sized U.S. corporate debt market may deteriorate, as seen during the global financial crisis from 2007-2009, and to a lesser extent in the recent years following the COVID-19 pandemic which may cause pricing levels to similarly decline or be volatile. During the financial crisis, many institutions were forced to raise cash by selling their interests in performing assets in order to satisfy margin requirements or the equivalent of margin requirements imposed by their lenders and/or, in the case of hedge funds and other investment vehicles, to satisfy widespread redemption requests. This resulted in a forced deleveraging cycle of price declines, compulsory sales, and further price declines, with falling underlying credit values, and other constraints resulting from the credit crisis generating further selling pressure. If similar events occurred in the medium- and large-sized U.S. corporate debt market, our net asset value could decline through an increase in unrealized depreciation and incurrence of realized losses in connection with the sale of our investments, which could have a material adverse impact on our business, financial condition and results of operations. Capital markets may experience periods of disruption and instability. These market conditions could materially adversely affect the Company’s business, financial condition and results of operations. As a BDC, we have to maintain our ability to raise additional capital for investment purposes. Without sufficient access to the capital markets or credit markets, we may be forced to curtail our business operations, or we may not be able to pursue new business opportunities. The U.S. and global capital markets have in the past experienced and may in the future experience periods of volatility and disruption, including during portions of the past three fiscal years, and accordingly, there has been and may continue to be uncertainty in the financial markets in general. For example, the 2010 sovereign debt financial crisis in Europe and the 2011 downgrade of the U.S. credit rating by Standard & Poor's had negative impacts on the global economy and may have adversely impacted the operations of BDCs such as the Company. Additionally, the United Kingdom (the “U.K.”) ending its membership in the European Union (“Brexit”) has led to economic and market uncertainty and periods of volatility in the U.K. and more broadly, and may continue to adversely affect European or worldwide economic or market conditions or could contribute to instability in global financial and real estate markets. In addition, Brexit could lead to legal uncertainty and potentially divergent national laws and regulations as the U.K. determines which EU laws to replace or replicate. Any of these effects of Brexit, and others we cannot anticipate, could adversely affect our business, business opportunities, results of operations, financial condition and cash flows. Likewise, similar actions taken by other European and other countries in which we operate could have a similar or even more profound impact. In recent years, the COVID-19 pandemic disrupted the global economy and its supply chains, and may have adversly impacted the operations of BDCs, such as the Company, as well as contributed to ongoing inflation in the U.S. and globally. Such periods of disruption may be accompanied by depressed levels of consumer and commercial spending, a lack of liquidity in debt capital markets, significant write-offs in the financial services sector and the re-pricing of credit risk. The Company and the portfolio companies in which it invests may be adversely affected by these deteriorations in the financial markets and economic conditions throughout the world. If the fair value of our assets declines substantially, we may fail to maintain the asset coverage ratios imposed upon us by the 1940 Act. Any such failure would affect our ability to issue senior securities, including borrowings, and pay dividends, which could materially impair our business operations. Our liquidity could be impaired further by an inability to access the capital markets or to consummate new borrowing facilities to provide capital for normal operations, including new originations. In recent years, reflecting concern about the stability of the financial markets, many lenders and institutional investors have reduced or ceased providing funding to borrowers. If we are unable to repay amounts outstanding under any debt facilities we may obtain and are declared in default or are unable to renew or refinance these facilities, we may not be able to operate our business in the normal course. These situations may arise due to circumstances that we may be unable to control, such as lack of access to the credit markets, a severe decline in the value of the U.S. dollar, another economic downturn or an operational problem that affects third parties or us and could materially damage our business. Adverse developments in the credit markets may impair our ability to secure debt financing. In past economic downturns, such as the financial crisis in the United States that began in mid-2007 and during other times of extreme market volatility, many commercial banks and other financial institutions stopped lending or significantly curtailed their lending activity. In addition, in an effort to stem losses and reduce their exposure to segments of the economy deemed to be high risk, some financial institutions limited routine refinancing and loan modification transactions and even reviewed the terms of existing facilities to identify bases for accelerating the maturity of existing lending facilities. If these conditions recur, it may be difficult for us to obtain desired financing to finance the growth of our investments on acceptable economic terms, or at all. The commencement, continuation, or cessation of government and central bank policies and economic stimulus programs in response to adverse economic developments, including changes in monetary policy involving interest rate adjustments or governmental policies, may contribute to the development of or result in an increase in market volatility, illiquidity and other adverse effects that could negatively impact the credit markets and the Company. If we are unable to consummate credit facilities on commercially reasonable terms, our liquidity may be reduced significantly. If we are unable to repay amounts outstanding under our credit facility or any facilities we may enter into and are declared in default or are unable to renew or refinance any such facility, it would limit our ability to initiate significant originations or to operate our business in the normal course. These situations may arise due to circumstances that we may be unable to control, such as inaccessibility of the credit markets, a severe decline in the value of the U.S. dollar, a further economic downturn or an operational problem that affects third parties or us, and could materially damage our business. Moreover, we are unable to predict when economic and market conditions may become more favorable. Even if such conditions improve broadly and significantly over the long term, adverse conditions in particular sectors of the financial markets could adversely impact our business. Further downgrades of the U.S. credit rating, impending automatic spending cuts, another government shutdown or a failure to raise the statutory debt limit of the United States could negatively impact our liquidity, financial condition and earnings. The U.S. debt ceiling and budget deficit concerns have increased the possibility of additional credit-rating downgrades and economic slowdowns, or a recession in the United States. Although U.S. lawmakers passed legislation to raise the federal debt ceiling on multiple occasions, including recent suspensions of the federal debt ceiling and increases in the debt ceiling, ratings agencies have lowered or threatened to lower the long-term sovereign credit rating on the United States. The impact of this or any further downgrades to the U.S. government’s sovereign credit rating or its perceived credit worthiness could adversely affect the U.S. and global financial markets and economic conditions. Absent further quantitative easing by the Federal Reserve, these developments could cause interest rates and borrowing costs to rise, which may negatively impact our ability to access the debt markets on favorable terms. In addition, disagreement over the federal budget has caused the U.S. federal government to shut down for periods of time. Continued adverse political and economic conditions could have a material adverse effect on our business, financial condition and results of operations. If we cannot obtain additional capital because of either regulatory or market price constraints, we could be forced to curtail or cease our new lending and investment activities, our net asset value could decrease and our level of distributions and liquidity could be affected adversely. Our ability to secure additional financing and satisfy our financial obligations under indebtedness outstanding from time to time will depend upon our future operating performance, which is subject to the prevailing general economic and credit market conditions, including interest rate levels and the availability of credit generally, and financial, business and other factors, many of which are beyond our control. The prolonged continuation or worsening of current economic and capital market conditions could have a material adverse effect on our ability to secure financing on favorable terms, if at all. If we are unable to obtain additional debt capital, then our equity investors will not benefit from the potential for increased returns on equity resulting from leverage to the extent that our investment strategy is successful, and we may be limited in our ability to make new commitments or fundings to our portfolio companies. Terrorist attacks, acts of war or natural disasters may affect the market for our common stock, impact the businesses in which we invest and harm our business, operating results and financial condition. Terrorist acts, acts of war or natural disasters may disrupt our operations, as well as the operations of the businesses in which we invest. Such acts have created, and continue to create, economic and political uncertainties and have contributed to global economic instability. Future terrorist activities, military or security operations, or natural disasters could further weaken the domestic/global economies and create additional uncertainties, which may negatively impact the businesses in which we invest directly or indirectly and, in turn, could have a material adverse impact on our business, operating results and financial condition. Losses from terrorist attacks and natural disasters are generally uninsurable. In addition, the current U.S. political environment and the resulting uncertainties regarding actual and potential shifts in U.S. foreign investment, trade, taxation, economic, environmental and other policies under the current Administration, as well as the impact of geopolitical tension, such as a deterioration in the bilateral relationship between the U.S. and China or the military conflicts between Russia and Ukraine or Israel and Hamas, could lead to disruption, instability and volatility in the global markets. Unfavorable economic conditions also would be expected to increase our funding costs, limit our access to the capital markets or result in a decision by lenders not to extend credit to us. These events may limit our investment originations, and limit our ability to grow and could have a material negative impact on our operating results, financial condition, results of operations and cash flows and the fair values of our debt and equity investments. The ongoing conflicts between Russia and Ukraine and Israel and Hamas may have a material adverse impact on us and our portfolio companies. In February 2022, Russian President Vladimir Putin commenced a military invasion of Ukraine, which has continued into 2024, and which has had, and may continue to have, a negative impact on the economy and business activity globally (including in the countries in which the Company invests), and therefore could adversely affect the performance of the Company’s investments. Furthermore, the conflict between the two nations remains ongoing and the varying involvement of the United States and other NATO countries has had, and may continue to have, an unpredictable impact on global economic and market conditions, and, as a result, presents material uncertainty and risk with respect to the Company and the performance of its investments or operations, and the ability of the Company to achieve its investment objectives. Additionally, to the extent that third parties, investors, or related customer bases have material operations or assets in Russia or Ukraine, they may have adverse consequences related to the ongoing conflict. In October 2023, Hamas (an organization which has been designated as a terrorist organization by the United State and several other nations), committed a terrorist attack within Israel which began an active armed conflict between Gaza and Israel. The conflict and measures taken in response could have a negative impact on the economy and business activity globally (including in countries in which the Company invests), and therefore could adversely affect the performance of the investments. The severity and duration of the conflict and its future impact on global economic and market conditions (including, for example, oil prices) present a material uncertainty and risk with respect to the economic stability and the performance of the investments and operations in the region. There is a risk that the armed conflict may expand, which may exacerbate the risks described above. Similar risks exist to the extent that any service providers, vendors or certain other parties have material operations or assets in the Middle East, or the immediate surrounding areas. The United States has announced sanctions and other measures against Hamas-related persons and organizations in response to the Economic sanction laws in the United States and other jurisdictions may prohibit us and our affiliates from transacting with certain countries, individuals and companies. In the United States, the U.S. Department of the Treasury’s Office of Foreign Assets Control administers and enforces laws, executive orders and regulations establishing U.S. economic and trade sanctions, which prohibit, among other things, transactions with, and the provision of services to, certain non-U.S. countries, territories, entities and individuals. These types of sanctions may significantly restrict or completely prohibit investment activities in certain jurisdictions, and if we, our portfolio companies or other issuers in which we invest were to violate any such laws or regulations, we may face significant legal and monetary penalties. The Foreign Corrupt Practices Act, or FCPA, and other anti-corruption laws and regulations, as well as anti-boycott regulations, may also apply to and restrict our activities, our portfolio companies and other issuers of our investments. If an issuer or we were to violate any such laws or regulations, such issuer or we may face significant legal and monetary penalties. The U.S. government has indicated that it is particularly focused on FCPA enforcement, which may increase the risk that an issuer or us becomes the subject of such actual or threatened enforcement. In addition, certain commentators have suggested that private investment firms and the funds that they manage may face increased scrutiny and/or liability with respect to the activities of their underlying portfolio companies. As such, a violation of the FCPA or other applicable regulations by us or an issuer of our portfolio investments could have a material adverse effect on us. We are committed to complying with the FCPA and other anti-corruption laws and regulations, as well as anti-boycott regulations, to which it is subject. As a result, we may be adversely affected because of our unwillingness to enter into transactions that violate any such laws or regulations. Major public health issues could have an adverse impact on our financial condition and results of operations and other aspects of our business . Major public health issues have impacted and, in the future, may impact our business, financial condition, results of operations, liquidity or prospects and those of our portfolio companies in a number of ways. For instance, our investment portfolio (and, specifically, the valuations of investment assets we hold), was adversely affected as a result of market developments from the COVID-19 pandemic; including disruptions to the businesses of our portfolio companies, global supply chain disruptions, and increased inflationary pressures nationally and globally. Moreover, changes in interest rates, reduced liquidity or a continued slowdown in U.S. or global economic conditions has, and may continue to, adversely affect our business, financial condition, results of operations, liquidity and/or prospects and those of our portfolio companies. Further, extreme market volatility may leave us and our portfolio companies unable to react to market events in a prudent manner consistent with our historical practices in dealing with more orderly markets. We will also continue to be negatively affected if our operations and effectiveness or the operations and effectiveness of a portfolio company (or any of the key personnel or service providers of the foregoing) is compromised or if necessary or beneficial systems and processes are disrupted. Any public health emergency, including the COVID-19 pandemic or any outbreak of other existing or new epidemic diseases, or the threat thereof, and the resulting financial and economic market uncertainty could have a significant adverse impact on us and the fair value of our investments. Our valuations, and particularly valuations of private investments and private companies, are inherently uncertain, may fluctuate over short periods of time and are often based on estimates, comparisons and qualitative evaluations of private information that may not show the complete impact of a public health emergency and the resulting measures taken in response thereto. These potential impacts, while uncertain, could adversely affect our and our portfolio companies’ operating results. Even after any major public health emergency subsides, the U.S. economy and most other major global economies may experience a recession, and we anticipate our business and operations could be materially adversely affected by a prolonged recession in the United States and other major markets. We are currently operating in a period of capital markets disruption and economic uncertainty. The U.S. capital markets have experienced extreme volatility and disruption over the past several years. Disruptions in the capital markets caused by inflation and rising interest rates, international military conflicts such as the wars in Ukraine and Russia and in Gaza, health epidemics and pandemics and other globally significant trends and events have increased the spread between the yields rea lized on risk-free and higher risk securities, resulting in illiquidity in parts of the capital markets. These and future market disruptions and/or illiquidity would be expected to have an adverse effect on our business, financial condition, results of ope rations and cash flows. Unfavorable economic conditions also would be expected to increase our funding costs, limit our access to the capital markets or result in a decision by lenders not to extend credit to us. These events have limited and could continu e to limit our investment originations, limit our ability to grow and have a material negative impact on our operating results and the fair values of our debt and equity investments. Further, current market conditions may make it difficult for us to obtai n debt capital on favorable terms and any failure to do so could have a material adverse effect on our business. The debt capital that will be available to us in the future, if at all, may be at a higher cost and on less favorable terms and conditions than what we would otherwise expect, including being at a higher cost in rising rate environments. If we are unable to raise debt, then our equity investors may not benefit from the potential for increased returns on equity resulting from leverage and we may b e limited in our ability to make or fund commitments to portfolio companies. An inability to obtain indebtedness could have a material adverse effect on our business, financial condition or results of operations. Our ability to achieve our investment objective depends on the ability of the Adviser to manage and support our investment process. If the Adviser were to lose any members of their respective senior management teams, our ability to achieve our investment objective could be significantly harmed. Since we have no employees, we depend on the investment expertise, skill and network of business contacts of the broader networks of the Adviser and its affiliates. The Adviser evaluates, negotiates, structures, executes, monitors and services our investments. Our future success depends to a significant extent on the continued service and coordination of the Adviser and its senior management team. The departure of any members of the Adviser’s senior management team could have a material adverse effect on our ability to achieve our investment objective. Our ability to achieve our investment objective depends on the Adviser’s ability to identify and analyze, and to invest in, finance and monitor companies that meet our investment criteria. In addition to monitoring the performance of our existing investments, our Adviser’s investment team may also be called upon, from time to time, to provide managerial assistance to some of our portfolio companies as well as other funds that they manage. These demands on their time may distract them or slow our rate of investment. See also “Risk Factors—Risks Related to the Adviser and its Affiliates —There are significant potential conflicts of interest that could negatively affect our investment returns.” Even if we are able to grow and build upon our investment operations, any failure to manage our growth effectively could have a material adverse effect on our business, financial condition, results of operations and prospects. The results of our operations depend on many factors, including the availability of opportunities for investment, readily accessible short and long-term funding alternatives in the financial markets, and economic conditions. Furthermore, if we cannot successfully operate our business or implement our investment policies and strategies, it could negatively impact our ability to make distributions. The Adviser’s capabilities in structuring the investment process, providing competent, attentive and efficient services to us, and facilitating access to financing on acceptable terms depend on the employment of investment professionals in an adequate number and of adequate sophistication to match the corresponding flow of transactions. To achieve our investment objective, the Adviser may need to hire, train, supervise and manage new investment professionals to participate in our investment selection and monitoring process. The Adviser may not be able to find investment professionals in a timely manner or at all. Failure to support our investment process could have a material adverse effect on our business, financial condition and results of operations. The Investment Advisory Agreement between the Adviser and us has been approved pursuant to Section 15 of the 1940 Act. In addition, the Investment Advisory Agreement has termination provisions that allow the parties to terminate the agreement. The Investment Advisory Agreement may be terminated at any time, without penalty, by us or by the Adviser, upon 60 days’ notice. If the agreement is terminated, we may not be able to find a new external investment adviser or hire internal management with similar expertise and ability to provide the same or equivalent services on acceptable terms within 60 days, or at all. If we are unable to do so quickly, our operations are likely to experience a disruption, our financial condition, business and results of operations as well as our ability to pay distributions are likely to be adversely affected. Any inability of the Adviser to maintain or develop strong referral relationships, or the failure of these relationships to generate investment opportunities, could adversely affect our business. We depend on the Adviser to maintain its relationships with private equity firms, placement agents, investment banks, management groups and other financial institutions and commercial banks, and we expect to rely to a significant extent upon these relationships to provide us with potential investment opportunities. If the Adviser fails to maintain such relationships, or to develop new relationships with other sources of investment opportunities, we will not be able to grow our investment portfolio. In addition, individuals with whom the Adviser has relationships are not obligated to provide us with investment opportunities, and we can offer no assurance that these relationships will generate investment opportunities for us in the future. We operate in a highly competitive market for investment opportunities, which could delay deployment of our capital, reduce returns and result in losses. We compete for investments with other BDCs and investment funds (including private equity funds, venture lending funds, finance companies with venture lending units, banks focused on venture lending, mezzanine funds and funds that invest in CLOs, structured notes, derivatives and other types of collateralized securities and structured products), as well as traditional financial services companies such as commercial banks and other sources of funding. Moreover, alternative investment vehicles, such as hedge funds, have begun to invest in areas in which they have not traditionally invested, including making investments in small to mid-sized private U.S. companies. As a result of these new entrants, competition for investment opportunities in small and middle-market private U.S. companies may intensify. Many of our potential competitors are substantially larger and have considerably greater financial, technical and marketing resources than we have. For example, some competitors may have a lower cost of capital and access to funding sources that are not available to us. In addition, some of our competitors have higher risk tolerances or different risk assessments than we have. These characteristics might allow our competitors to consider a wider variety of investments, establish more relationships or offer better pricing and more flexible structuring than we are able to offer. We may lose investment opportunities if we do not match our competitors’ pricing, terms or structure. If we are forced to match our competitors’ pricing, terms or structure, we may not be able to achieve acceptable returns on our investments or may bear substantial risk of capital loss. We believe a significant part of our competitive advantage stems from the fact that the market for investments in lower and traditional middle-market companies is underserved by traditional commercial banks and other financing sources. A significant increase in the number and/or the size of our competitors in this target market could force us to accept less attractive investment terms. Furthermore, many of our potential competitors have greater experience operating under, or will not be subject to, the regulatory restrictions that the 1940 Act imposes on us as a BDC. We may have difficulty sourcing investment opportunities. We cannot assure investors that we will be able to locate a sufficient number of suitable investment opportunities to allow us to deploy all Capital Commitments successfully. In addition, privately-negotiated investments in loans and illiquid securities of private middle market companies require substantial due diligence and structuring, and we cannot assure investors that we will achieve our anticipated investment pace. As a result, investors will be unable to evaluate any future portfolio company investments prior to purchasing shares of our common stock. Additionally, our Adviser will select our investments, and our stockholders will have no input with respect to such investment decisions. These factors increase the uncertainty, and thus the risk, of investing in shares of our common stock. To the extent we are unable to deploy all Capital Commitments, our investment income and, in turn, our resu

NAV Per Share

$ 22.53

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$ 22.79

$ 21.99

$ 21.7

$ 21.85

$ 23.35

$ 23.97

$ 24.89

$ 25.1

$ 26.32

$ 26.17

$ 25.95

$ 24.88

$ 25.11

$ 25

Capital Stock, Long-Term Debt, and Other Securities [Abstract]

Long Term Debt, Structuring [Text Block]

On December 16, 2019, we, through BCPL Funding, entered into a debt financing facility with UBS AG, London Branch (“UBS”), as amended on March 12, 2021, pursuant to which the Facility was made available to us. The interest rate applicable to borrowings under the Facility is based on the one month SOFR plus a spread of 291 basis points. The Facility is secured by a security interest in virtually all of our portfolio investments (including cash), subject to certain exceptions. We have provided a make-whole guarantee to the lender in the event that the pledged assets were insufficient to satisfy the repayment of the Facility.

Risk Related to Our Business and Structure

General Description of Registrant [Abstract]

Risk [Text Block]

Risks Related To Our Business And Structure We are a relatively new company and have a limited operating history. Although the investment professionals of BCP Credit and the Adviser have substantial credit-oriented investment experience generally (including, in certain instances, at their prior firm(s)), the Company and the Adviser have minimal operating history and we have no financial information on which a prospective investor can evaluate an investment in our common stock or our prior performance. The sponsoring of the Company and the BCP Credit platform represents a new business initiative for BC Partners LLP and there can be no assurance that it will be successful. Members of the Investment Team have not previously worked together at BC Partners LLP prior to the formation of the BCP Credit platform. As a result, we are subject to the business risks and uncertainties associated with recently formed businesses, including the risk that we will not achieve our investment objective and the value of a stockholder’s investment could decline substantially or become worthless. While we believe that the past professional experiences, including investment and financial experience of the Investment Team will increase the likelihood that the Adviser will be able to manage the Company successfully, there can be no assurance that this will be the case. Our Board may change our investment objective, operating policies and strategies without prior notice or stockholder approval, the effects of which may be adverse to our results of operations and financial condition. Our Board has the authority to modify or waive our current investment objective, operating policies, investment criteria and strategies without prior notice and without stockholder approval. We cannot predict the effect any changes to our current operating policies, investment criteria and strategies would have on our business, net asset value, operating results and value of our securities. However, the effects might be adverse, which could negatively impact our ability to make distributions and cause you to lose all or part of your investment. Moreover, we have significant flexibility in investing our assets and may invest in ways investors may not agree with or in the future may invest in ways other than those previously disclosed or disclosed herein. Price declines in the medium- and large-sized U.S. corporate debt market may adversely affect the fair value of our portfolio, reducing our net asset value through increased net unrealized depreciation. Conditions in the medium- and large-sized U.S. corporate debt market may deteriorate, as seen during the global financial crisis from 2007-2009, and to a lesser extent in the recent years following the COVID-19 pandemic which may cause pricing levels to similarly decline or be volatile. During the financial crisis, many institutions were forced to raise cash by selling their interests in performing assets in order to satisfy margin requirements or the equivalent of margin requirements imposed by their lenders and/or, in the case of hedge funds and other investment vehicles, to satisfy widespread redemption requests. This resulted in a forced deleveraging cycle of price declines, compulsory sales, and further price declines, with falling underlying credit values, and other constraints resulting from the credit crisis generating further selling pressure. If similar events occurred in the medium- and large-sized U.S. corporate debt market, our net asset value could decline through an increase in unrealized depreciation and incurrence of realized losses in connection with the sale of our investments, which could have a material adverse impact on our business, financial condition and results of operations. Capital markets may experience periods of disruption and instability. These market conditions could materially adversely affect the Company’s business, financial condition and results of operations. As a BDC, we have to maintain our ability to raise additional capital for investment purposes. Without sufficient access to the capital markets or credit markets, we may be forced to curtail our business operations, or we may not be able to pursue new business opportunities. The U.S. and global capital markets have in the past experienced and may in the future experience periods of volatility and disruption, including during portions of the past three fiscal years, and accordingly, there has been and may continue to be uncertainty in the financial markets in general. For example, the 2010 sovereign debt financial crisis in Europe and the 2011 downgrade of the U.S. credit rating by Standard & Poor's had negative impacts on the global economy and may have adversely impacted the operations of BDCs such as the Company. Additionally, the United Kingdom (the “U.K.”) ending its membership in the European Union (“Brexit”) has led to economic and market uncertainty and periods of volatility in the U.K. and more broadly, and may continue to adversely affect European or worldwide economic or market conditions or could contribute to instability in global financial and real estate markets. In addition, Brexit could lead to legal uncertainty and potentially divergent national laws and regulations as the U.K. determines which EU laws to replace or replicate. Any of these effects of Brexit, and others we cannot anticipate, could adversely affect our business, business opportunities, results of operations, financial condition and cash flows. Likewise, similar actions taken by other European and other countries in which we operate could have a similar or even more profound impact. In recent years, the COVID-19 pandemic disrupted the global economy and its supply chains, and may have adversly impacted the operations of BDCs, such as the Company, as well as contributed to ongoing inflation in the U.S. and globally. Such periods of disruption may be accompanied by depressed levels of consumer and commercial spending, a lack of liquidity in debt capital markets, significant write-offs in the financial services sector and the re-pricing of credit risk. The Company and the portfolio companies in which it invests may be adversely affected by these deteriorations in the financial markets and economic conditions throughout the world. If the fair value of our assets declines substantially, we may fail to maintain the asset coverage ratios imposed upon us by the 1940 Act. Any such failure would affect our ability to issue senior securities, including borrowings, and pay dividends, which could materially impair our business operations. Our liquidity could be impaired further by an inability to access the capital markets or to consummate new borrowing facilities to provide capital for normal operations, including new originations. In recent years, reflecting concern about the stability of the financial markets, many lenders and institutional investors have reduced or ceased providing funding to borrowers. If we are unable to repay amounts outstanding under any debt facilities we may obtain and are declared in default or are unable to renew or refinance these facilities, we may not be able to operate our business in the normal course. These situations may arise due to circumstances that we may be unable to control, such as lack of access to the credit markets, a severe decline in the value of the U.S. dollar, another economic downturn or an operational problem that affects third parties or us and could materially damage our business. Adverse developments in the credit markets may impair our ability to secure debt financing. In past economic downturns, such as the financial crisis in the United States that began in mid-2007 and during other times of extreme market volatility, many commercial banks and other financial institutions stopped lending or significantly curtailed their lending activity. In addition, in an effort to stem losses and reduce their exposure to segments of the economy deemed to be high risk, some financial institutions limited routine refinancing and loan modification transactions and even reviewed the terms of existing facilities to identify bases for accelerating the maturity of existing lending facilities. If these conditions recur, it may be difficult for us to obtain desired financing to finance the growth of our investments on acceptable economic terms, or at all. The commencement, continuation, or cessation of government and central bank policies and economic stimulus programs in response to adverse economic developments, including changes in monetary policy involving interest rate adjustments or governmental policies, may contribute to the development of or result in an increase in market volatility, illiquidity and other adverse effects that could negatively impact the credit markets and the Company. If we are unable to consummate credit facilities on commercially reasonable terms, our liquidity may be reduced significantly. If we are unable to repay amounts outstanding under our credit facility or any facilities we may enter into and are declared in default or are unable to renew or refinance any such facility, it would limit our ability to initiate significant originations or to operate our business in the normal course. These situations may arise due to circumstances that we may be unable to control, such as inaccessibility of the credit markets, a severe decline in the value of the U.S. dollar, a further economic downturn or an operational problem that affects third parties or us, and could materially damage our business. Moreover, we are unable to predict when economic and market conditions may become more favorable. Even if such conditions improve broadly and significantly over the long term, adverse conditions in particular sectors of the financial markets could adversely impact our business. Further downgrades of the U.S. credit rating, impending automatic spending cuts, another government shutdown or a failure to raise the statutory debt limit of the United States could negatively impact our liquidity, financial condition and earnings. The U.S. debt ceiling and budget deficit concerns have increased the possibility of additional credit-rating downgrades and economic slowdowns, or a recession in the United States. Although U.S. lawmakers passed legislation to raise the federal debt ceiling on multiple occasions, including recent suspensions of the federal debt ceiling and increases in the debt ceiling, ratings agencies have lowered or threatened to lower the long-term sovereign credit rating on the United States. The impact of this or any further downgrades to the U.S. government’s sovereign credit rating or its perceived credit worthiness could adversely affect the U.S. and global financial markets and economic conditions. Absent further quantitative easing by the Federal Reserve, these developments could cause interest rates and borrowing costs to rise, which may negatively impact our ability to access the debt markets on favorable terms. In addition, disagreement over the federal budget has caused the U.S. federal government to shut down for periods of time. Continued adverse political and economic conditions could have a material adverse effect on our business, financial condition and results of operations. If we cannot obtain additional capital because of either regulatory or market price constraints, we could be forced to curtail or cease our new lending and investment activities, our net asset value could decrease and our level of distributions and liquidity could be affected adversely. Our ability to secure additional financing and satisfy our financial obligations under indebtedness outstanding from time to time will depend upon our future operating performance, which is subject to the prevailing general economic and credit market conditions, including interest rate levels and the availability of credit generally, and financial, business and other factors, many of which are beyond our control. The prolonged continuation or worsening of current economic and capital market conditions could have a material adverse effect on our ability to secure financing on favorable terms, if at all. If we are unable to obtain additional debt capital, then our equity investors will not benefit from the potential for increased returns on equity resulting from leverage to the extent that our investment strategy is successful, and we may be limited in our ability to make new commitments or fundings to our portfolio companies. Terrorist attacks, acts of war or natural disasters may affect the market for our common stock, impact the businesses in which we invest and harm our business, operating results and financial condition. Terrorist acts, acts of war or natural disasters may disrupt our operations, as well as the operations of the businesses in which we invest. Such acts have created, and continue to create, economic and political uncertainties and have contributed to global economic instability. Future terrorist activities, military or security operations, or natural disasters could further weaken the domestic/global economies and create additional uncertainties, which may negatively impact the businesses in which we invest directly or indirectly and, in turn, could have a material adverse impact on our business, operating results and financial condition. Losses from terrorist attacks and natural disasters are generally uninsurable. In addition, the current U.S. political environment and the resulting uncertainties regarding actual and potential shifts in U.S. foreign investment, trade, taxation, economic, environmental and other policies under the current Administration, as well as the impact of geopolitical tension, such as a deterioration in the bilateral relationship between the U.S. and China or the military conflicts between Russia and Ukraine or Israel and Hamas, could lead to disruption, instability and volatility in the global markets. Unfavorable economic conditions also would be expected to increase our funding costs, limit our access to the capital markets or result in a decision by lenders not to extend credit to us. These events may limit our investment originations, and limit our ability to grow and could have a material negative impact on our operating results, financial condition, results of operations and cash flows and the fair values of our debt and equity investments. The ongoing conflicts between Russia and Ukraine and Israel and Hamas may have a material adverse impact on us and our portfolio companies. In February 2022, Russian President Vladimir Putin commenced a military invasion of Ukraine, which has continued into 2024, and which has had, and may continue to have, a negative impact on the economy and business activity globally (including in the countries in which the Company invests), and therefore could adversely affect the performance of the Company’s investments. Furthermore, the conflict between the two nations remains ongoing and the varying involvement of the United States and other NATO countries has had, and may continue to have, an unpredictable impact on global economic and market conditions, and, as a result, presents material uncertainty and risk with respect to the Company and the performance of its investments or operations, and the ability of the Company to achieve its investment objectives. Additionally, to the extent that third parties, investors, or related customer bases have material operations or assets in Russia or Ukraine, they may have adverse consequences related to the ongoing conflict. In October 2023, Hamas (an organization which has been designated as a terrorist organization by the United State and several other nations), committed a terrorist attack within Israel which began an active armed conflict between Gaza and Israel. The conflict and measures taken in response could have a negative impact on the economy and business activity globally (including in countries in which the Company invests), and therefore could adversely affect the performance of the investments. The severity and duration of the conflict and its future impact on global economic and market conditions (including, for example, oil prices) present a material uncertainty and risk with respect to the economic stability and the performance of the investments and operations in the region. There is a risk that the armed conflict may expand, which may exacerbate the risks described above. Similar risks exist to the extent that any service providers, vendors or certain other parties have material operations or assets in the Middle East, or the immediate surrounding areas. The United States has announced sanctions and other measures against Hamas-related persons and organizations in response to the Economic sanction laws in the United States and other jurisdictions may prohibit us and our affiliates from transacting with certain countries, individuals and companies. In the United States, the U.S. Department of the Treasury’s Office of Foreign Assets Control administers and enforces laws, executive orders and regulations establishing U.S. economic and trade sanctions, which prohibit, among other things, transactions with, and the provision of services to, certain non-U.S. countries, territories, entities and individuals. These types of sanctions may significantly restrict or completely prohibit investment activities in certain jurisdictions, and if we, our portfolio companies or other issuers in which we invest were to violate any such laws or regulations, we may face significant legal and monetary penalties. The Foreign Corrupt Practices Act, or FCPA, and other anti-corruption laws and regulations, as well as anti-boycott regulations, may also apply to and restrict our activities, our portfolio companies and other issuers of our investments. If an issuer or we were to violate any such laws or regulations, such issuer or we may face significant legal and monetary penalties. The U.S. government has indicated that it is particularly focused on FCPA enforcement, which may increase the risk that an issuer or us becomes the subject of such actual or threatened enforcement. In addition, certain commentators have suggested that private investment firms and the funds that they manage may face increased scrutiny and/or liability with respect to the activities of their underlying portfolio companies. As such, a violation of the FCPA or other applicable regulations by us or an issuer of our portfolio investments could have a material adverse effect on us. We are committed to complying with the FCPA and other anti-corruption laws and regulations, as well as anti-boycott regulations, to which it is subject. As a result, we may be adversely affected because of our unwillingness to enter into transactions that violate any such laws or regulations. Major public health issues could have an adverse impact on our financial condition and results of operations and other aspects of our business . Major public health issues have impacted and, in the future, may impact our business, financial condition, results of operations, liquidity or prospects and those of our portfolio companies in a number of ways. For instance, our investment portfolio (and, specifically, the valuations of investment assets we hold), was adversely affected as a result of market developments from the COVID-19 pandemic; including disruptions to the businesses of our portfolio companies, global supply chain disruptions, and increased inflationary pressures nationally and globally. Moreover, changes in interest rates, reduced liquidity or a continued slowdown in U.S. or global economic conditions has, and may continue to, adversely affect our business, financial condition, results of operations, liquidity and/or prospects and those of our portfolio companies. Further, extreme market volatility may leave us and our portfolio companies unable to react to market events in a prudent manner consistent with our historical practices in dealing with more orderly markets. We will also continue to be negatively affected if our operations and effectiveness or the operations and effectiveness of a portfolio company (or any of the key personnel or service providers of the foregoing) is compromised or if necessary or beneficial systems and processes are disrupted. Any public health emergency, including the COVID-19 pandemic or any outbreak of other existing or new epidemic diseases, or the threat thereof, and the resulting financial and economic market uncertainty could have a significant adverse impact on us and the fair value of our investments. Our valuations, and particularly valuations of private investments and private companies, are inherently uncertain, may fluctuate over short periods of time and are often based on estimates, comparisons and qualitative evaluations of private information that may not show the complete impact of a public health emergency and the resulting measures taken in response thereto. These potential impacts, while uncertain, could adversely affect our and our portfolio companies’ operating results. Even after any major public health emergency subsides, the U.S. economy and most other major global economies may experience a recession, and we anticipate our business and operations could be materially adversely affected by a prolonged recession in the United States and other major markets. We are currently operating in a period of capital markets disruption and economic uncertainty. The U.S. capital markets have experienced extreme volatility and disruption over the past several years. Disruptions in the capital markets caused by inflation and rising interest rates, international military conflicts such as the wars in Ukraine and Russia and in Gaza, health epidemics and pandemics and other globally significant trends and events have increased the spread between the yields rea lized on risk-free and higher risk securities, resulting in illiquidity in parts of the capital markets. These and future market disruptions and/or illiquidity would be expected to have an adverse effect on our business, financial condition, results of ope rations and cash flows. Unfavorable economic conditions also would be expected to increase our funding costs, limit our access to the capital markets or result in a decision by lenders not to extend credit to us. These events have limited and could continu e to limit our investment originations, limit our ability to grow and have a material negative impact on our operating results and the fair values of our debt and equity investments. Further, current market conditions may make it difficult for us to obtai n debt capital on favorable terms and any failure to do so could have a material adverse effect on our business. The debt capital that will be available to us in the future, if at all, may be at a higher cost and on less favorable terms and conditions than what we would otherwise expect, including being at a higher cost in rising rate environments. If we are unable to raise debt, then our equity investors may not benefit from the potential for increased returns on equity resulting from leverage and we may b e limited in our ability to make or fund commitments to portfolio companies. An inability to obtain indebtedness could have a material adverse effect on our business, financial condition or results of operations. Our ability to achieve our investment objective depends on the ability of the Adviser to manage and support our investment process. If the Adviser were to lose any members of their respective senior management teams, our ability to achieve our investment objective could be significantly harmed. Since we have no employees, we depend on the investment expertise, skill and network of business contacts of the broader networks of the Adviser and its affiliates. The Adviser evaluates, negotiates, structures, executes, monitors and services our investments. Our future success depends to a significant extent on the continued service and coordination of the Adviser and its senior management team. The departure of any members of the Adviser’s senior management team could have a material adverse effect on our ability to achieve our investment objective. Our ability to achieve our investment objective depends on the Adviser’s ability to identify and analyze, and to invest in, finance and monitor companies that meet our investment criteria. In addition to monitoring the performance of our existing investments, our Adviser’s investment team may also be called upon, from time to time, to provide managerial assistance to some of our portfolio companies as well as other funds that they manage. These demands on their time may distract them or slow our rate of investment. See also “Risk Factors—Risks Related to the Adviser and its Affiliates —There are significant potential conflicts of interest that could negatively affect our investment returns.” Even if we are able to grow and build upon our investment operations, any failure to manage our growth effectively could have a material adverse effect on our business, financial condition, results of operations and prospects. The results of our operations depend on many factors, including the availability of opportunities for investment, readily accessible short and long-term funding alternatives in the financial markets, and economic conditions. Furthermore, if we cannot successfully operate our business or implement our investment policies and strategies, it could negatively impact our ability to make distributions. The Adviser’s capabilities in structuring the investment process, providing competent, attentive and efficient services to us, and facilitating access to financing on acceptable terms depend on the employment of investment professionals in an adequate number and of adequate sophistication to match the corresponding flow of transactions. To achieve our investment objective, the Adviser may need to hire, train, supervise and manage new investment professionals to participate in our investment selection and monitoring process. The Adviser may not be able to find investment professionals in a timely manner or at all. Failure to support our investment process could have a material adverse effect on our business, financial condition and results of operations. The Investment Advisory Agreement between the Adviser and us has been approved pursuant to Section 15 of the 1940 Act. In addition, the Investment Advisory Agreement has termination provisions that allow the parties to terminate the agreement. The Investment Advisory Agreement may be terminated at any time, without penalty, by us or by the Adviser, upon 60 days’ notice. If the agreement is terminated, we may not be able to find a new external investment adviser or hire internal management with similar expertise and ability to provide the same or equivalent services on acceptable terms within 60 days, or at all. If we are unable to do so quickly, our operations are likely to experience a disruption, our financial condition, business and results of operations as well as our ability to pay distributions are likely to be adversely affected. Any inability of the Adviser to maintain or develop strong referral relationships, or the failure of these relationships to generate investment opportunities, could adversely affect our business. We depend on the Adviser to maintain its relationships with private equity firms, placement agents, investment banks, management groups and other financial institutions and commercial banks, and we expect to rely to a significant extent upon these relationships to provide us with potential investment opportunities. If the Adviser fails to maintain such relationships, or to develop new relationships with other sources of investment opportunities, we will not be able to grow our investment portfolio. In addition, individuals with whom the Adviser has relationships are not obligated to provide us with investment opportunities, and we can offer no assurance that these relationships will generate investment opportunities for us in the future. We operate in a highly competitive market for investment opportunities, which could delay deployment of our capital, reduce returns and result in losses. We compete for investments with other BDCs and investment funds (including private equity funds, venture lending funds, finance companies with venture lending units, banks focused on venture lending, mezzanine funds and funds that invest in CLOs, structured notes, derivatives and other types of collateralized securities and structured products), as well as traditional financial services companies such as commercial banks and other sources of funding. Moreover, alternative investment vehicles, such as hedge funds, have begun to invest in areas in which they have not traditionally invested, including making investments in small to mid-sized private U.S. companies. As a result of these new entrants, competition for investment opportunities in small and middle-market private U.S. companies may intensify. Many of our potential competitors are substantially larger and have considerably greater financial, technical and marketing resources than we have. For example, some competitors may have a lower cost of capital and access to funding sources that are not available to us. In addition, some of our competitors have higher risk tolerances or different risk assessments than we have. These characteristics might allow our competitors to consider a wider variety of investments, establish more relationships or offer better pricing and more flexible structuring than we are able to offer. We may lose investment opportunities if we do not match our competitors’ pricing, terms or structure. If we are forced to match our competitors’ pricing, terms or structure, we may not be able to achieve acceptable returns on our investments or may bear substantial risk of capital loss. We believe a significant part of our competitive advantage stems from the fact that the market for investments in lower and traditional middle-market companies is underserved by traditional commercial banks and other financing sources. A significant increase in the number and/or the size of our competitors in this target market could force us to accept less attractive investment terms. Furthermore, many of our potential competitors have greater experience operating under, or will not be subject to, the regulatory restrictions that the 1940 Act imposes on us as a BDC. We may have difficulty sourcing investment opportunities. We cannot assure investors that we will be able to locate a sufficient number of suitable investment opportunities to allow us to deploy all Capital Commitments successfully. In addition, privately-negotiated investments in loans and illiquid securities of private middle market companies require substantial due diligence and structuring, and we cannot assure investors that we will achieve our anticipated investment pace. As a result, investors will be unable to evaluate any future portfolio company investments prior to purchasing shares of our common stock. Additionally, our Adviser will select our investments, and our stockholders will have no input with respect to such investment decisions. These factors increase the uncertainty, and thus the risk, of investing in shares of our common stock. To the extent we are unable to deploy all Capital Commitments, our investment income and, in turn, our results of operations, will likely be materially adversely affected. There is no assurance that we will be able to consummate investment transactions or that such transactions will be successful. BC Partners, the Company and their affiliates may also face certain conflicts of interests in connection with any transaction, including any warehousing transaction involving an affiliate. We generally expect to call capital for investment purposes only at the time we identify an investment opportunity, but we may call capital even if we do not have investments identified. Until such time we invest the proceeds of such capital calls in portfolio companies, we may invest these amounts in cash, cash equivalents, U.S. government securities and high-quality debt investments that mature in one year or less from the date of investment. We expect these temporary investments to earn yields substantially lower than the income that we expect to receive in respect of investments in secured debt (including senior secured, unitranche and second lien debt) and unsecured debt (including senior unsecured and subordinated debt), as well as related equity securities. As required by the 1940 Act

Risks Related to the Adviser and its Affiliates

General Description of Registrant [Abstract]

Risk [Text Block]

Risks Related to the Adviser and its Affiliates The Adviser and its affiliates, including our officers and some of our directors, face conflicts of interest caused by compensation arrangements with us and our affiliates, which could result in actions that are not in the best interests of our stockholders. The Adviser and its affiliates will receive substantial fees from us in return for their services, including certain incentive fees based on the performance of our investments. These fees could influence the advice provided to us. Generally, the more equity we sell in private offerings and the greater the risk assumed by us with respect to our investments, the greater the potential for growth in our assets and profits, and, correlatively, the fees payable by us to our Adviser. These compensation arrangements could affect our Adviser’s or its affiliates’ judgment with respect to private offerings of equity and investments made by us, which allow our Adviser to earn increased asset management fees. Additionally, we pay to the Adviser an incentive fee that is based on the performance of our portfolio and an annual base management fee that is based on the average value of our gross assets, excluding cash and cash equivalents but including assets purchased with borrowed amounts, at the end of the two most recently completed calendar quarters. Because the incentive fee is based on the performance of our portfolio, the Adviser may be incentivized to make investments on our behalf that are riskier or more speculative than would be the case in the absence of such compensation arrangement. The way in which the incentive fee is determined may also encourage the Adviser to use leverage to increase the return on our investments. In addition, because the base management fee is based on the average value of our gross assets at the end of the two most recently completed calendar quarters, which includes any borrowings for investment purposes, the Adviser may be incentivized to recommend the use of leverage or the issuance of additional equity to make additional investments and increase the average value of our gross assets at the end of the two most recently completed calendar quarters. Under certain circumstances, the use of leverage may increase the likelihood of default, which could disfavor our stockholders. Our compensation arrangements could therefore result in our making riskier or more speculative investments, or relying more on leverage to make investments, than would otherwise be the case. This could result in higher investment losses, particularly during cyclical economic downturns. There are significant potential conflicts of interest that could negatively affect our investment returns. The members of the Adviser’s investment team also monitor and service other affiliated investment funds. In addition, our executive officers and directors, as well as the current and future members of our Adviser’s investment team, may serve as officers, directors or principals of other entities that operate in the same or a related line of business as we do. Accordingly, they may have obligations to investors in those entities, the fulfillment of which obligations may not be in the best interests of us or our stockholders. In the course of our investing activities, we pay management and incentive fees to the Adviser and reimburse the Adviser for certain expenses it incurs. As a result, investors in our common stock invest on a “gross” basis and receive distributions on a “net” basis after expenses, resulting in a lower rate of return than an investor might achieve through direct investments. Accordingly, there may be times when the management team of the Adviser will have interests that differ from those of our stockholders, giving rise to a conflict. The Adviser will not be reimbursed for any performance-related compensation for its employees. We pay our Administrator our allocable portion of overhead and other expenses incurred by our Administrator in performing its obligations under the Administration Agreement, including rent, the fees and expenses associated with performing compliance functions, and our allocable portion of the compensation of our chief financial officer, chief compliance officer and their respective administrative support staff. These arrangements create conflicts of interest that our Board must monitor. The Adviser and its affiliates may also manage other funds in the future that may have investment mandates that are similar, in whole or in part to ours. To the extent permitted by the 1940 Act and interpretation of the SEC staff, the Adviser and its affiliates may determine that an investment is appropriate for us and for one or more of those other funds. In such event, depending on the availability of such investment and other appropriate factors, the Adviser or its affiliates may determine that we should invest side-by-side with one or more other funds. Any such investments will be made only to the extent permitted by applicable law and interpretive positions of the SEC and its staff, and consistent with the Adviser’s allocation procedures. As a BDC, we are substantially limited in our ability to co-invest in privately negotiated transactions with affiliated funds unless we obtain an exemptive order from the SEC. On October 23, 2018, the SEC issued an order granting the Company’s application for exemptive relief to co-invest, subject to the satisfaction of certain conditions, in certain private placement transactions, with other funds managed by the Adviser or its affiliates and any future funds that are advised by the Adviser or its affiliated investment advisers. Under the terms of the exemptive order, in order for the Company to participate in a co-investment transaction, a “required majority” (as defined in Section 57(o) of the 1940 Act) of the Company’s independent directors must conclude that (i) the terms of the proposed transaction, including the consideration to be paid, are reasonable and fair to the Company and its stockholders and do not involve overreaching with respect of the Company or its stockholders on the part of any person concerned, and (ii) the proposed transaction is consistent with the interests of the Company’s stockholders and is consistent with the Company’s investment objectives and strategies and certain criteria established by the Board. We believe this relief may not only enhance our ability to further our investment objectives and strategies, but may also increase favorable investment opportunities for us, in part by allowing us to participate in larger investments, together with our co-investment affiliates, than would be available to us in the absence of such relief. In the ordinary course of business, we may enter into transactions with portfolio companies that may be considered related party transactions. In order to ensure that we do not engage in any prohibited transactions with any persons affiliated with us, we have implemented certain written policies and procedures whereby our executive officers screen each of our transactions for any possible affiliations between the proposed portfolio investment and us, companies controlled by us or our executive officers and directors. We will not enter into any agreements unless and until we are satisfied that doing so will not raise concerns under the 1940 Act or, if such concerns exist, we have taken appropriate actions to seek review and approval by our Board or exemptive relief for such transaction. Our Board will review these procedures on an annual basis. We may be obligated to pay the Adviser incentive compensation even if we incur a net loss due to a decline in the value of our portfolio, and the incentive fee may be calculated using income that has not yet been received. Our Investment Advisory Agreement entitles the Adviser to receive incentive compensation on income regardless of any capital losses. In such case, we may be required to pay the Adviser incentive compensation for a fiscal quarter even if there is a decline in the value of our portfolio or if we incur a net loss for that quarter. Any incentive fee payable by us that relates to our net investment income may be computed and paid on income that may include interest that has been accrued, but not yet received, including original issue discount, which may arise if we receive fees in connection with the origination of a loan or possibly in other circumstances, or contractual “payment-in-kind,” or PIK, interest, which represents contractual interest added to the loan balance and due at the end of the loan term. To the extent we do not distribute accrued PIK interest, the deferral of PIK interest has the simultaneous effects of increasing the assets under management and increasing the base management fee at a compounding rate, while generating investment income and increasing the incentive fee at a compounding rate. In addition, the deferral of PIK interest would also increase the loan-to-value ratio at a compounding rate if the issuer’s assets do not increase in value, and investments with a deferred interest feature, such as PIK interest, may represent a higher credit risk than loans on which interest must be paid in full in cash on a regular basis. For example, if a portfolio company defaults on a loan that is structured to provide accrued interest, it is possible that accrued interest previously included in the calculation of the incentive fee will become uncollectible. The Adviser is not under any obligation to reimburse us for any part of the incentive fee it received that was based on accrued income that we never received as a result of a default by an entity on the obligation that resulted in the accrual of such income, and such circumstances would result in our paying an incentive fee on income we never received. The Adviser is not obligated to reimburse us for any part of the incentive fee it receives that is based on accrued income that we never receive. Part of the incentive fee payable by us to our Adviser that relates to our net investment income is computed and paid on income that may include interest that has been accrued but not yet received in cash, such as market discount, debt instruments with PIK interest, preferred stock with PIK dividends and zero coupon securities. If a portfolio company defaults on a loan that is structured to provide accrued interest, it is possible that accrued interest previously used in the calculation of the incentive fee will become uncollectible. Our Adviser will not be under any obligation to reimburse us for any part of the incentive fees it received that was based on accrued income that we never receive as a result of a default by an entity on the obligation that resulted in the accrual of such income. There may be conflicts of interest related to obligations that the Adviser’s senior management and Investment Team has to other clients. The members of the senior management and Investment Team of the Adviser serve or may serve as officers, directors or principals of entities that operate in the same or a related line of business as we do, or of investment funds managed by the same personnel. In serving in these multiple capacities, they may have obligations to other clients or investors in those entities, the fulfilment of which may not be in our best interests or in the best interest of our stockholders. Our investment objective may overlap with the investment objectives of such investment funds, accounts or other investment vehicles. In particular, we rely on the Adviser to manage our day-to-day activities and to implement our investment strategy. The Adviser and certain of its affiliates are presently, and plan in the future to continue to be, involved with activities that are unrelated to us. As a result of these activities, the Adviser, its officers and employees and certain of its affiliates will have conflicts of interest in allocating their time between us and other activities in which they are or may become involved, including the management of its affiliated funds. The Adviser and its officers and employees will devote only as much of its or their time to our business as the Adviser and its officers and employees, in their judgment, determine is reasonably required, which may be substantially less than their full time. We rely, in part, on the Adviser to assist with identifying and executing upon investment opportunities and on the Board to review and approve the terms of our participation in co-investment transactions with the Adviser and its affiliates. The Adviser and its affiliates are not restricted from forming additional investment funds, entering into other investment advisory relationships or engaging in other business activities. These activities could be viewed as creating a conflict of interest in that the time and effort of the members of the Adviser, its affiliates and their officers and employees will not be devoted exclusively to our business but will be allocated between us and such other business activities of the Adviser and its affiliates in a manner that the Adviser deems necessary and appropriate. In April 2019, an affiliate of the Adviser became the external manager of PTMN pursuant to a stock purchase and transaction agreement and stockholder approval by PTMN. Certain of our executive officers and directors, and certain members of our Adviser, serve or may serve as officers, directors or principals of entities that operate in the same or a related line of business as we do or of investment funds managed by our affiliates. PTMN invests in debt and equity of privately-held middle market companies, similar to those we target for investment. Therefore, there may be certain investment opportunities that satisfy the investment criteria for PTMN and us. PTMN operates as a distinct and separate company and any investment in our common stock will not be an investment in PTMN. In addition, all of our executive officers currently serve in substantially similar capacities for PTMN and three of our independent directors serve as independent directors of PTMN. The time and resources that individuals employed by the Adviser devote to us may be diverted and we may face additional competition due to the fact that individuals employed by the Adviser are not prohibited from raising money for or managing other entities that make the same types of investments that we target. Neither the Adviser nor individuals employed by the Adviser are generally prohibited from raising capital for and managing other investment entities that make the same types of investments as those we target. As a result, the time and resources that these individuals may devote to us may be diverted. In addition, we may compete with any such investment entity for the same investors and investment opportunities. On October 23, 2018, the SEC issued an order granting the Company’s application for exemptive relief to co-invest, subject to the satisfaction of certain conditions, in certain private placement transactions, with other funds managed by the Adviser or its affiliates, including BCP Special Opportunities Fund I LP, BCP Special Opportunities Fund II LP, BCP Special Opportunities Fund III LP, Portman Ridge Finance Corporation, Logan Ridge Finance Corporation and any future funds that are advised by the Adviser or its affiliated investment advisers. Affiliates of the Adviser, whose primary business includes the origination of investments, engage in investment advisory business with accounts that compete with us. Our base management and incentive fees may induce the Adviser to make speculative investments or to incur leverage. The incentive fee payable by us to the Adviser may create an incentive for our Adviser to make investments on our behalf that are risky or more speculative than would be the case in the absence of such compensation arrangement. The way in which the incentive fee payable to the Adviser is determined may encourage our Adviser to use leverage to increase the leveraged return on our investment portfolio. The part of the management and incentive fees payable to the Adviser that relates to our net investment income is computed and paid on income that may include interest income that has been accrued but not yet received in cash, such as market discount, debt instruments with PIK interest, preferred stock with PIK dividends and zero coupon securities. This fee structure may be considered to involve a conflict of interest for the Adviser to the extent that it may encourage the Adviser to favor debt financings that provide for deferred interest, rather than current cash payments of interest. In addition, the fact that our base management fee is payable based upon our gross assets, which would include any borrowings for investment purposes, may encourage the Adviser to use leverage to make additional investments. Under certain circumstances, the use of leverage may increase the likelihood of defaulting on our borrowings, which would disfavor holders of our common stock. Such a practice could result in our investing in more speculative securities than would otherwise be in our best interests, which could result in higher investment losses, particularly during cyclical economic downturns. Shares of our common stock may be purchased by the Adviser or its affiliates. The Adviser and its affiliates may purchase shares of our common stock for any reason deemed appropriate. The Adviser and its affiliates will not acquire any shares of our common stock with the intention to resell or re-distribute such shares. The purchase of common stock by the Adviser and its affiliates could create certain risks, including, but not limited to, the following: • the Adviser and its affiliates may have an interest in disposing of our assets at an earlier date so as to recover their investment in our common stock; and • substantial purchases of shares by the Adviser and its affiliates may limit the Adviser’s ability to fulfill any financial obligations that it may have to us or incurred on our behalf. We depend upon the Adviser’s key personnel for our future success We depend on the diligence, skill and network of business contacts of members of the senior management and Investment Team of the Adviser. Our success depends on the continued service of these individuals. We cannot assure you that unforeseen business, medical, personal or other circumstances would not lead any of these individuals to terminate his relationship with us. Additionally, we cannot assure you that a reduction in revenue to the Adviser, including as a result of fee waivers or a decrease in our assets, would not lead to a loss of investment professionals in the future. Such loss of members of the Adviser’s investment committee and other investment professionals could have a material adverse effect on our ability to achieve our investment objective as well as on our financial condition and results of operations. In addition, we can offer no assurance that the Adviser will continue indefinitely as our investment adviser. The members of the Adviser’s investment team are and may in the future become affiliated with entities engaged in business activities similar to those intended to be conducted by us and may have conflicts of interest in allocating their time. The Adviser may retain additional consultants, advisers and/or operating partners to provide services to the Company, and such additional personnel will perform similar functions and duties for other organizations which may give rise to conflicts of interest. The Adviser may work with or alongside one or more consultants, advisers (including senior advisers and CEOs) and/or operating partners who are retained by The Adviser on a consultancy or retainer or other basis, to provide services to the Company and other entities sponsored by The Adviser including the sourcing of investments and other investment-related and support services. The functions undertaken by such persons with respect to the Company and any of its investments will not be exclusive and such persons may perform similar functions and duties for other organizations which may give rise to conflicts of interest. Such persons may also be appointed to the board of directors of companies and have other business interests which give rise to conflicts of interest with the interests of the Company or a portfolio entity of the Company. Stockholders should note that such persons may retain compensation that will not offset the base management fee payable to the Adviser, including that: (i) such persons are permitted to retain all directors’ fees, monitoring fees and other compensation received by them in respect of acting as a director or officer of, or providing other services to, a portfolio entity and such amounts shall not be credited against the base management fee; and (ii) certain of such persons may be paid a deal fee, a consultancy fee or other compensation where they are involved in a specific project relating to the Company, which fee will be paid either by the Company or, if applicable, the relevant portfolio entity. The terms of the Investment Advisory Agreement and the Administration Agreement were determined without independent assessment on our behalf, and these terms may be less advantageous to us than if such terms had been the subject of arm’s-length negotiations. The Investment Advisory Agreement and the Administration Agreement were negotiated between related parties. Consequently, their terms, including fees payable to the Adviser and the Administrator, may not be as favorable to us as if they had been negotiated with an unaffiliated third-party. The Adviser’s influence on conducting our operations gives it the ability to increase its fees, which may reduce the amount of cash flow available for distribution to our stockholders. The Adviser is paid a base management fee calculated as a percentage of our gross assets and unrelated to net income or any other performance base or measure. The Adviser may advise us to consummate transactions or conduct our operations in a manner that, in the Adviser’s reasonable discretion, is in the best interests of our stockholders. These transactions, however, may increase the amount of fees paid to the Adviser. The Adviser’s ability to influence the base management fee paid to it by us could reduce the amount of cash flow available for distribution to our stockholders. Our Adviser’s liability is limited under the Investment Advisory Agreement, and we have agreed to indemnify the Adviser against certain liabilities, which may lead the Adviser to act in a riskier manner on our behalf than it would when acting for its own account. Under the Investment Advisory Agreement, the Adviser has not assumed any responsibility to us other than to render the services called for under that agreement. It is not responsible for any action of our Board in following or declining to follow the Adviser’s advice or recommendations. Under the Investment Advisory Agreement, the Adviser, its officers, managers, partners, agents, employees, controlling persons, members and any other person or entity affiliated with the Adviser, including without limitation its managing member, will not be liable to us for acts or omissions performed in accordance with and pursuant to the Investment Advisory Agreement, except those resulting from acts constituting criminal conduct, gross negligence, willful misfeasance, bad faith or reckless disregard of the duties that the Adviser owes to us under the Investment Advisory Agreement. In addition, as part of the Investment Advisory Agreement, we have agreed to indemnify the Adviser and each of its officers, managers, partners, agents, employees, controlling persons, members and any other person or entity affiliated with the Adviser, including without limitation its general partner, and the Administrator from and against any damages, liabilities, costs and expenses, including reasonable legal fees and other expenses reasonably incurred, in or by reason of any pending, threatened or completed action, suit, investigation or other proceeding (including an action or suit by or in the right of the Company or its security holders) arising out of or otherwise based upon the performance of any of the Adviser’s duties or obligations under this Agreement or otherwise as an investment adviser of the Company, except where attributable to criminal conduct, gross negligence, willful misfeasance, bad faith or reckless disregard of such person’s duties under the Investment Advisory Agreement. These protections may lead the Adviser to act in a riskier manner when acting on our behalf than it would when acting for its own account. Our Adviser has the right to resign on 60 days’ notice, and we may not be able to find a suitable replacement within such time, resulting in a disruption in our operations that could adversely affect our financial condition, business and results of operations. Our Adviser has the right, under the Investment Advisory Agreement, to resign at any time on 60 days’ written notice, whether we have found a replacement or not. If our Adviser resigns, we may not be able to find a new investment adviser or hire internal management with similar expertise and ability to provide the same or equivalent services on acceptable terms within 60 days, or at all. If we are unable to do so quickly, our operations are likely to experience a disruption, our financial condition, business and results of operations as well as our ability to pay distributions are likely to be adversely affected and the market price of our shares may decline. In addition, the coordination of our internal management and investment activities is likely to suffer if we are unable to identify and reach an agreement with a single institution or group of executives having the expertise possessed by our Adviser and its affiliates. Even if we are able to retain comparable management, whether internal or external, the integration of such management and their lack of familiarity with our investment objective may result in additional costs and time delays that may adversely affect our financial condition, business and results of operations. The investment committee and other investment professionals of the Adviser may, from time to time, possess material non-public information about or related to our portfolio companies, limiting our investment discretion. Members of our Adviser’s investment committee and other investment professionals of the Adviser may serve as directors of, or in a similar capacity to, portfolio companies in which we invest. In the event that material non-public information is obtained with respect to such companies, or we become subject to trading restrictions under the internal trading policies of those companies or as a result of applicable law or regulations, we could be prohibited for a period of time from purchasing or selling the securities of such companies, and this prohibition may have an adverse effect on us.

Risks Related to Business Development Companies

General Description of Registrant [Abstract]

Risk [Text Block]

Risks Related to Business Development Companies The requirement that we invest a sufficient portion of our assets in qualifying assets could preclude us from investing in accordance with our current business strategy; conversely, the failure to invest a sufficient portion of our assets in qualifying assets could result in our failure to maintain our status as a BDC. As a BDC, we may not acquire any assets other than “qualifying assets” unless, at the time of and after giving effect to such acquisition, at least 70% of our total assets are qualifying assets. Therefore, we may be precluded from investing in what we believe are attractive investments if such investments are not qualifying assets. Conversely, if we fail to invest a sufficient portion of our assets in qualifying assets, we could lose our status as a BDC, which would have a material adverse effect on our business, financial condition and results of operations. Similarly, these rules could prevent us from making additional investments in existing portfolio companies, which could result in the dilution of our position, or could require us to dispose of investments at an inopportune time to comply with the 1940 Act. If we were forced to sell non-qualifying investments in the portfolio for compliance purposes, the proceeds from such sale could be significantly less than the current value of such investments. Failure to maintain our status as a BDC would reduce our operating flexibility. If we do not remain a BDC, we might be regulated as a registered closed-end investment company under the 1940 Act, which would subject us to substantially more regulatory restrictions under the 1940 Act and correspondingly decrease our operating flexibility. Regulations governing our operation as a BDC affect our ability to raise additional capital and the way in which we do so. As a BDC, the necessity of raising additional capital may expose us to risks, including the typical risks associated with leverage. We may issue debt securities or preferred stock and/or borrow money from banks or other financial institutions, which we refer to collectively as “senior securities,” up to the maximum amount permitted by the 1940 Act. Under the provisions of the 1940 Act, we are permitted, as a BDC, to issue senior securities in amounts such that our asset coverage ratio, as defined in the 1940 Act, equals at least 150%, if certain conditions are met, of gross assets less all liabilities and indebtedness not represented by senior securities, after each issuance of senior securities. If the value of our assets declines, we may be unable to satisfy this test. If that happens, we may be required to sell a portion of our investments and, depending on the nature of our leverage, repay a portion of our indebtedness at a time when such sales may be disadvantageous. Also, any amounts that we use to service our indebtedness would not be available for distributions to our common stockholders. Furthermore, as a result of issuing senior securities, we would also be exposed to typical risks associated with leverage, including an increased risk of loss. If we issue preferred stock, the preferred stock would rank “senior” to common stock in our capital structure, preferred stockholders would have separate voting rights on certain matters and might have other rights, preferences, or privileges more favorable than those of our common stockholders, and the issuance of preferred stock could have the effect of delaying, deferring or preventing a transaction or a change of control that might involve a premium price for holders of our common stock or otherwise be in your best interests. We generally may not issue and sell our common stock at a price below net asset value per share. We may, however, sell our common stock, or warrants, options or rights to acquire our common stock, at a price below the then-current net asset value per share of our common stock if our Board determines that such sale is in our best interests and in the best interests of our stockholders, and our stockholders approve such sale. In any such case, the price at which our securities are to be issued and sold may not be less than a price that, in the determination of our Board, closely approximates the market value of such securities (less any commission or discount). If we raise additional funds by issuing more common stock or senior securities convertible into, or exchangeable for, our common stock, then the percentage ownership of our stockholders at that time will decrease, and you may experience dilution. In certain limited circumstances, pursuant to an SEC staff interpretation, we may also issue shares at a price below net asset value in connection with a transferable rights offering so long as: (1) the offer does not discriminate among stockholders; (2) we use our best efforts to ensure an adequate trading market exists for the rights; and (3) the ratio of the offering does not exceed one new share for each three rights held. If we raise additional funds by issuing more common stock or senior securities convertible into, or exchangeable for, our common stock, the percentage ownership of our stockholders at that time would decrease and they may experience dilution. Moreover, we can offer no assurance that we will be able to issue and sell additional equity securities in the future, on favorable terms or at all. Our ability to enter into new transactions with our affiliates, and to restructure or exit our investments in portfolio companies that we are deemed to “control” under the 1940 Act, will be restricted by the 1940 Act, which may limit the scope of investment opportunities available to us. We are prohibited under the 1940 Act from participating in certain transactions with our affiliates without the prior approval of our independent directors and, in some cases, the SEC. Any person that owns, directly or indirectly, 5% or more of our outstanding voting securities will be our affiliate for purposes of the 1940 Act and we are generally prohibited from buying or selling any security from or to such affiliate without the prior approval of our independent directors. The 1940 Act also prohibits certain “joint” transactions with certain of our affiliates, which could include concurrent investments in the same company, without prior approval of our independent directors and, in some cases, the SEC. We are prohibited from buying or selling any security from or to any person that controls us or who owns more than 25% of our voting securities or certain of that person’s affiliates, or entering into prohibited joint transactions with such persons, absent the prior approval of the SEC. Similar restrictions limit our ability to transact business with our officers, directors, investment advisers, sub-advisers or their affiliates. As a result of these restrictions, we may be prohibited from buying or selling any security (other than any security of which we are the issuer) from or to any company that is advised or managed by our Adviser or its affiliates without the prior approval of the SEC, which may limit the scope of investment opportunities that would otherwise be available to us. In the future, we may co-invest with investment funds, accounts and vehicles managed by our Adviser or its affiliates when doing so is consistent with our investment strategy as well as applicable law and SEC staff interpretations. We generally will only be permitted to co-invest with such investment funds, accounts and vehicles where the only term that is negotiated is price. On October 23, 2018, the SEC issued an order granting the Company’s application for exemptive relief to co-invest, subject to the satisfaction of certain conditions, in certain private placement transactions, with other funds managed by the Adviser or its affiliates, including BCP Special Opportunities Fund I LP, BCP Special Opportunities Fund II LP, BCP Special Opportunities Fund III LP, Portman Ridge Finance Corporation, Logan Ridge Finance Corporation, and any future funds that are advised by the Adviser or its affiliated investment advisers. Under the terms of the exemptive order, in order for the Company to participate in a co-investment transaction, a “required majority” (as defined in Section 57(o) of the 1940 Act) of the Company’s independent directors must conclude that (i) the terms of the proposed transaction, including the consideration to be paid, are reasonable and fair to the Company and its stockholders and do not involve overreaching with respect of the Company or its stockholders on the part of any person concerned, and (ii) the proposed transaction is consistent with the interests of the Company’s stockholders and is consistent with the Company’s investment objectives and strategies and certain criteria established by the Board. We believe this relief may not only enhance our ability to further our investment objectives and strategies, but may also increase favorable investment opportunities for us, in part by allowing us to participate in larger investments, together with our co-investment affiliates, than would be available to us in the absence of such relief. In addition, within our portfolio there are investments that may be deemed to be “controlled” investments under the 1940 Act. To the extent that our investments in such portfolio companies need to be restructured or that we choose to exit these investments in the future, our ability to do so may be limited if such restructuring or exit also involves the affiliates of our Adviser because such a transaction could be considered a joint transaction prohibited by the 1940 Act in the absence of our receipt of relief from the SEC in connection with such transaction. For example, if an affiliate of our Adviser were required to approve a restructuring of an investment in the portfolio and the affiliate of our Adviser was deemed to be our affiliate, such a restructuring transaction may constitute a prohibited joint transaction under the 1940 Act. We are uncertain of our sources for funding our future capital needs; if we cannot obtain debt or equity financing on acceptable terms, our ability to acquire investments and to expand our operations will be adversely affected. The net proceeds from the sale of common stock or other securities will be used for our investment opportunities, operating expenses and for payment of various fees and expenses such as base management fees, incentive fees and other expenses. Any working capital reserves we maintain may not be sufficient for investment purposes, and we may require debt or equity financing to operate. Accordingly, in the event that we develop a need for additional capital in the future for investments or for any other reason, these sources of funding may not be available to us. Consequently, if we cannot obtain debt or equity financing on acceptable terms, our ability to acquire investments and to expand our operations will be adversely affected. As a result, we would be less able to create and maintain a broad portfolio of investments and achieve our investment objective, which may negatively impact our results of operations and reduce our ability to make distributions to our stockholders. We are a non-diversified investment company within the meaning of the 1940 Act, and therefore we are not limited with respect to the proportion of our assets that may be invested in securities of a single issuer. We are classified as a non-diversified investment company within the meaning of the 1940 Act, which means that we are not limited by the 1940 Act with respect to the proportion of our assets that we may invest in securities of a single issuer. Beyond the asset diversification requirements associated with our RIC tax treatment under the Code, we do not have fixed guidelines for diversification. To the extent that we assume large positions in the securities of a small number of issuers or our investments are concentrated in relatively few industries, our net asset value may fluctuate to a greater extent than that of a diversified investment company as a result of changes in the financial condition or the market’s assessment of the issuer. For the same reason, we may be more susceptible to failure if a single loan fails. The disposition or liquidity of a significant investment may also adversely impact our net asset value and our results of operations. Similarly, the aggregate returns we realize may be significantly adversely affected if a small number of investments perform poorly or if we need to write down the value of any one investment. Our portfolio may be concentrated in a limited number of industries, which may subject us to a risk of significant loss if there is a downturn in a particular industry in which a number of our investments are concentrated. Our portfolio may be concentrated in a limited number of industries. Our portfolio will be considered to be concentrated in a particular industry when 25% or greater of its total assets are invested in issuers that are a part of that industry. The Company currently has investments concentrated in the information technology industry. A downturn in any particular industry in which we are invested could significantly impact the aggregate returns we realize. If an industry in which we have significant investments suffers from adverse business or economic conditions, as these industries have to varying degrees, a material portion of our investment portfolio could be affected adversely, which, in turn, could adversely affect our financial position and results of operations. If our portfolio companies are unable to protect their proprietary, technological and other intellectual property rights, our business and prospects could be harmed, and if portfolio companies are required to devote significant resources to protecting their intellectual property rights, the value of our investment could be reduced. Our future success and competitive position will depend in part upon the ability of our portfolio companies to obtain, maintain and protect proprietary technology used in their products and services. The intellectual property held by our portfolio companies often represents a substantial portion of the collateral securing our investments and/or constitutes a significant portion of the portfolio companies’ value that may be available in a downside scenario to repay our loans. Our portfolio companies will rely, in part, on patent, trade secret and trademark law to protect that technology, but competitors may misappropriate their intellectual property, and disputes as to ownership of intellectual property may arise. Portfolio companies may, from time to time, be required to institute litigation to enforce their patents, copyrights or other intellectual property rights, protect their trade secrets, determine the validity and scope of the proprietary rights of others or defend against claims of infringement. Such litigation could result in substantial costs and diversion of resources. Similarly, if a portfolio company is found to infringe or misappropriate a third-party’s patent or other proprietary rights, it could be required to pay damages to the third-party, alter its products or processes, obtain a license from the third-party and/or cease activities utilizing the proprietary rights, including making or selling products utilizing the proprietary rights. Any of the foregoing events could negatively affect both the portfolio company’s ability to service our debt investment and the value of any related debt and equity securities that we own, as well as any collateral securing our investment. The effect of global climate change may impact the operations of our portfolio companies. There may be evidence of global climate change. Climate change creates physical and financial risk and some of our portfolio companies may be adversely affected by climate change. For example, the needs of customers of energy companies vary with weather conditions, primarily temperature and humidity. To the extent weather conditions are affected by climate change, energy use could increase or decrease depending on the duration and magnitude of any changes. Increases in the cost of energy could adversely affect the cost of operations of our portfolio companies if the use of energy products or services is material to their business. A decrease in energy use due to weather changes may affect some of our portfolio companies’ financial condition, through decreased revenues. Extreme weather conditions in general require more system backup, adding to costs, and can contribute to increased system stresses, including service interruptions. Energy companies could also be affected by the potential for lawsuits against or taxes or other regulatory costs imposed on greenhouse gas emitters, based on links drawn between greenhouse gas emissions and climate change. In December 2015 the United Nations, of which the U.S. is a member, adopted a climate accord (the “Paris Agreement”) with the long-term goal of limiting global warming and the short-term goal of significantly reducing greenhouse gas emissions. On November 4, 2016, the past administration announced that the U.S. would cease participation in the Paris Agreement with the withdrawal taking effect on November 4, 2020. However, on January 20, 2021, President Biden signed an executive order to rejoin the Paris Agreement. As a result, some of our portfolio companies may become subject to new or strengthened regulations or legislation, which could increase their operating costs and/or decrease their revenues.

Risks Related to Our Investments

General Description of Registrant [Abstract]

Risk [Text Block]

Risks Related to Our Investments Our investments in prospective portfolio companies may be risky, and we could lose all or part of our investment. Our strategy focuses primarily on originating and making loans to, and making debt and equity investments in, U.S. middle market companies, with a focus on originated transactions sourced through the networks of our Adviser. First Lien Loans and Second Lien Loans. When we invest in senior secured term debt, including first lien loans and second lien loans, we generally take a security interest in the available assets of these portfolio companies, including the equity interests of their subsidiaries. We expect this security interest to help mitigate the risk that we will not be repaid. However, there is a risk that the collateral securing our loans may decrease in value over time or lose its entire value, may be difficult to sell in a timely manner, may be difficult to appraise and may fluctuate in value based upon the success of the business and market conditions, including as a result of the inability of the portfolio company to raise additional capital. Also, in some circumstances, our security interest could be subordinated to claims of other creditors. In addition, deterioration in a portfolio company’s financial condition and prospects, including its inability to raise additional capital, may be accompanied by deterioration in the value of the collateral for the loan. Consequently, the fact that a loan is secured does not guarantee that we will receive principal and interest payments according to the loan’s terms, or at all, or that we will be able to collect on the loan should we be forced to enforce our remedies. Further, in connection with any “last out” first-lien loans in which we may invest, we enter into agreements among lenders. Under these agreements, our interest in the collateral of the first-lien loans may rank junior to those of other lenders in the loan under certain circumstances. This may result in greater risk and loss of principal on these loans. Unitranche Loans. We also invest in unitranche loans, which are loans that combine both senior and subordinated financing, generally in a first-lien position. Unitranche loans provide all of the debt needed to finance a leveraged buyout or other corporate transaction, both senior and subordinated, but generally in a first lien position, while the borrower generally pays a blended, uniform interest rate rather than different rates for different tranches. Unitranche debt generally requires payments of both principal and interest throughout the life of the loan. Unitranche debt generally has contractual maturities of five to six years and interest is typically paid quarterly. Generally, we expect these securities to carry a blended yield that is between senior secured and subordinated debt interest rates. Unitranche loans provide a number of advantages for borrowers, including the following: simplified documentation, greater certainty of execution and reduced decision-making complexity throughout the life of the loan. In addition, we may receive additional returns from any warrants we may receive in connection with these investments. In some cases, a portion of the total interest may accrue or be paid in kind. Because unitranche loans combine characteristics of senior and subordinated financing, unitranche loans have risks similar to the risks associated with senior secured debt, including first lien loans and second lien loans, and subordinated debt in varying degrees according to the combination of loan characteristics of the unitranche loan. Unsecured Debt. Our unsecured debt, including corporate bonds and subordinated, or mezzanine, investments generally rank junior in priority of payment to senior debt. This may result in a heightened level of risk and volatility or a loss of principal, which could lead to the loss of the entire investment. These investments may involve additional risks that could adversely affect our investment returns. To the extent interest payments associated with such debt are deferred, such debt may be subject to greater fluctuations in valuations, and such debt could subject us and our stockholders to non-cash income, including PIK interest and original issue discount. Loans structured with these features may represent a higher level of credit risk than loans that require interest to be paid in cash at regular intervals during the term of the loan. Since we generally will not receive any principal repayments prior to the maturity of some of our unsecured debt investments, such investments will have greater risk and may result in loss of principal. Equity Investments. To a limited extent, we make selected equity investments. In addition, when we invest in senior secured debt, including first lien loans and second lien loans, or unsecured debt, we may acquire warrants to purchase equity securities. Our goal is ultimately to dispose of these equity interests and realize gains upon our disposition of such interests. However, the equity interests we receive may not appreciate in value and, in fact, may decline in value. Accordingly, we may not be able to realize gains from our equity interests, and any gains that we do realize on the disposition of any equity interests may not be sufficient to offset any other losses we experience. Collateralized Securities, Structured Products and Other. To a limited extent, we invest in collateralized securities, structured products and other similar securities, which may include CDOs, CBOs, CLOs, structured notes and credit-linked notes. Investments in such securities and products involve risks, including, without limitation, credit risk and market risk. Certain of these securities and products may be thinly traded or have a limited trading market. Where our investments in collateralized securities, structured products and other similar securities are based upon the movement of one or more factors, including currency exchange rates, interest rates, reference bonds (or loans) and stock indices, depending on the factor used and the use of multipliers or deflators, changes in interest rates and movement of any factor may cause significant price fluctuations. Additionally, changes in the reference instrument or security may cause the interest rate on such a security or product to be reduced to zero, and any further changes in the reference instrument may then reduce the principal amount payable on maturity of the security or product. Collateralized securities, structured products and other similar securities may be less liquid than other types of securities and more volatile than the reference instrument or security underlying the product. Non-U.S. Securities. We may invest in non-U.S. securities, which may include securities denominated in U.S. dollars or in non-U.S. currencies, to the extent permitted by the 1940 Act. Because evidence of ownership of such securities usually are held outside the United States, we would be subject to additional risks if we invested in non-U.S. securities, which include possible adverse political and economic developments, seizure or nationalization of foreign deposits and adoption of governmental restrictions which might adversely affect or restrict the payment of principal and interest on the non-U.S. securities to investors located outside the country of the issuer, whether from currency blockage or otherwise. Since non-U.S. securities may be purchased with and payable in foreign currencies, the value of these assets as measured in U.S. dollars may be affected unfavorably by changes in current rates and exchange control regulations. In addition, we invest in debt securities that are rated below investment grade by rating agencies or that would be rated below investment grade if they were rated. Debt securities rated below investment grade quality are generally regarded as having predominantly speculative characteristics and may carry a greater risk with respect to a borrower’s capacity to pay interest and repay principal. They may also be difficult to value and illiquid. Further, investing in lower middle-market and traditional middle-market companies involves a number of significant risks. See also “Investment in private and middle market companies involves a number of significant risks.” If we make subordinated investments, the obligors or the portfolio companies may not generate sufficient cash flow to service their debt obligations to us. We have made, and may make, subordinated investments that rank below other obligations of the obligor in right of payment. Subordinated investments are subject to greater risk of default than senior obligations as a result of adverse changes in the financial condition of the obligor or economic conditions in general. If we make a subordinated investment in a portfolio company, the portfolio company may be highly leveraged, and its relatively high debt-to-equity ratio may create increased risks that its operations might not generate sufficient cash flow to service all of its debt obligations. If the assets securing the loans that we make decrease in value, then we may lack sufficient collateral to cover losses. To attempt to mitigate credit risks, we will typically take a security interest in the available assets of our portfolio companies. There is no assurance that we will obtain or properly perfect our liens. There is a risk that the collateral securing our loans may decrease in value over time, may be difficult to sell in a timely manner, may be difficult to appraise and may fluctuate in value based upon the success of the business and market conditions, including as a result of the inability of a portfolio company to raise additional capital. In some circumstances, our lien could be subordinated to claims of other creditors. Consequently, the fact that a loan is secured does not guarantee that we will receive principal and interest payments according to the loan’s terms, or that we will be able to collect on the loan should we be forced to enforce our remedies. In addition, because we may invest in technology-related companies, a substantial portion of the assets securing our investment may be in the form of intellectual property, if any, inventory and equipment and, to a lesser extent, cash and accounts receivable. Intellectual property, if any, that is securing our loan could lose value if, among other things, the company’s rights to the intellectual property are challenged or if the company’s license to the intellectual property is revoked or expires, the technology fails to achieve its intended results or a new technology makes the intellectual property functionally obsolete. Inventory may not be adequate to secure our loan if our valuation of the inventory at the time that we made the loan was not accurate or if there is a reduction in the demand for the inventory. Similarly, any equipment securing our loan may not provide us with the anticipated security if there are changes in technology or advances in new equipment that render the particular equipment obsolete or of limited value, or if the company fails to adequately maintain or repair the equipment. Any one or more of the preceding factors could materially impair our ability to recover principal in a foreclosure. Our investments in securities rated below investment grade are speculative in nature and are subject to additional risk factors such as increased possibility of default, illiquidity of the security, and changes in value based on changes in interest rates. The securities that we invest in are typically rated below investment grade. Securities rated below investment grade are often referred to as “leveraged loans,” “high yield” or “junk” securities and may be considered “high risk” compared to debt instruments that are rated investment grade. High yield securities are regarded as having predominantly speculative characteristics with respect to the issuer’s capacity to pay interest and repay principal in accordance with the terms of the obligations and involve major risk exposure to adverse conditions. In addition, high yield securities generally offer a higher current yield than that available from higher grade issues, but typically involve greater risk. These securities are especially sensitive to adverse changes in general economic conditions, to changes in the financial condition of their issuers and to price fluctuation in response to changes in interest rates. During periods of economic downturn or rising interest rates, issuers of below investment grade instruments may experience financial stress that could adversely affect their ability to make payments of principal and interest and increase the possibility of default. To the extent original issue discount and PIK interest constitute a portion of our income, we will be exposed to typical risks associated with such income being required to be included in taxable and accounting income prior to receipt of cash representing such income. Our investments may include original issue discount instruments and contractual PIK interest, which represents contractual interest added to a loan balance and due at the end of such loan’s term. To the extent original issue discount or PIK interest constitute a portion of our income, we are exposed to typical risks associated with such income being required to be included in taxable and accounting income prior to receipt of cash, including the following: • the higher interest rates on PIK instruments reflect the payment deferral and increased credit risk associated with these instruments, and PIK instruments generally represent a significantly higher credit risk than coupon loans; • original issue discount and PIK instruments may have unreliable valuations because the accruals require judgments about collectability of the deferred payments and the value of any associated collateral; • an election to defer PIK interest payments by adding them to the principal on such instruments increases our future investment income which increases our gross assets and, as such, increases the Adviser’s future base management fees which, thus, increases the Adviser’s future income incentive fees at a compounding rate; • market prices of PIK instruments and other zero coupon instruments are affected to a greater extent by interest rate changes, and may be more volatile than instruments that pay interest periodically in cash. While PIK instruments are usually less volatile than zero coupon debt instruments, PIK instruments are generally more volatile than cash pay securities; • the deferral of PIK interest on an instrument increases the loan-to-value ratio, which is a measure of the riskiness of a loan, with respect to such instrument; • even if the conditions for income accrual under U.S. GAAP are satisfied, a borrower could still default when actual payment is due upon the maturity of such loan; • for accounting purposes, cash distributions to investors representing original issue discount income do not come from paid-in capital, although they may be paid from the offering proceeds. Thus, although a distribution of original issue discount income may come from the cash invested by investors, the 1940 Act does not require that investors be given notice of this fact; • the required recognition of original issue discount or PIK interest for U.S. federal income tax purposes may have a negative impact on liquidity, as it represents a non-cash component of our investment company taxable income that may require cash distributions to shareholders in order to maintain our ability to be subject to tax as a RIC; and • original issue discount may create a risk of non-refundable cash payments to the Adviser based on non-cash accruals that may never be realized. Our investments in leveraged portfolio companies may be risky, and we could lose all or part of our investment. Investment in leveraged companies involves a number of significant risks. Leveraged companies in which we invest may have limited financial resources and may be unable to meet their obligations under their loans and debt securities that we hold. Such developments may be accompanied by a deterioration in the value of any collateral and a reduction in the likelihood of our realizing any guarantees that we may have obtained in connection with our investment. Smaller leveraged companies also may have less predictable operating results and may require substantial additional capital to support their operations, finance their expansion or maintain their competitive position. Our investments in information technology companies may be risky, and we could lose all or part of our investment. Information technology companies produce and provide hardware, software and information technology systems and services. These companies may be adversely affected by rapidly changing technologies, short product life cycles, fierce competition, aggressive pricing and reduced profit margins, the loss of patent, copyright and trademark protections, cyclical market patterns, evolving industry standards and frequent new product introductions. In addition, information technology companies are particularly vulnerable to federal, state and local government regulation, and competition and consolidation, both domestically and internationally, including competition from foreign competitors with lower production costs. Information technology companies also heavily rely on intellectual property rights and may be adversely affected by the loss or impairment of those rights. Our portfolio companies may incur debt that ranks equally with, or senior to, our investments in such companies. Our portfolio companies may have, or may be permitted to incur, other debt that ranks equally with, or in some cases senior to, the debt in which we invest. By their terms, such debt instruments may entitle the holders to receive payment of interest or principal on or before the dates on which we are entitled to receive payments with respect to the debt instruments in which we invest. Also, in the event of insolvency, liquidation, dissolution, reorganization or bankruptcy of a portfolio company, holders of debt instruments ranking senior to our investment in that portfolio company would typically be entitled to receive payment in full before we receive any distribution. After repaying such senior creditors, such portfolio company may not have sufficient remaining assets to repay its obligation to us. In the case of debt ranking equally with debt instruments in which we invest, we would have to share on an equal basis any distributions with other creditors holding such debt in the event of an insolvency, liquidation, dissolution, reorganization or bankruptcy of the relevant portfolio company. Investment in private and middle market companies involves a number of significant risks. Investment in private and middle market companies involves a number of significant risks including: • such companies may have limited financial resources and may be unable to meet their obligations under their debt securities that we hold, which may be accompanied by a deterioration in the value of any collateral and a reduction in the likelihood of us realizing any guarantees we may have obtained in connection with its investment; • such companies typically have shorter operating histories, narrower product lines and smaller market shares than larger businesses, which tend to render them more vulnerable to competitors’ actions and market conditions, as well as to general economic downturns; • such companies are more likely to depend on the management talents and efforts of a small group of persons; therefore, the death, disability, resignation or termination of one or more of these persons could have a material adverse impact on the portfolio company and, in turn, on us; • such companies generally have less predictable operating results, may be engaged in rapidly changing businesses with products subject to a substantial risk of obsolescence, and may require substantial additional capital to support their operations, finance expansion or maintain their competitive position; • debt investments in such companies generally may have a significant portion of principal due at the maturity of the investment, which would result in a substantial loss to us if such borrowers are unable to refinance or repay their debt at maturity; • our executive officers, directors and the Adviser may, in the ordinary course of business, be named as defendants in litigation arising from our investments in such companies; • such companies generally have less publicly available information about their businesses, operations and financial condition and, if we are unable to uncover all material information about these companies, we may not make a fully informed investment decision; and • such companies may have difficulty accessing the capital markets to meet future capital needs, which may limit their ability to grow or to repay their outstanding indebtedness upon maturity. Our investments may be in portfolio companies which may have limited operating histories and financial resources. We expect that our portfolio will continue to consist of investments that may have relatively limited operating histories. These companies may be particularly vulnerable to U.S. and foreign economic downturns such as the U.S. recession that began in mid-2007, the European financial crisis, and the COVID-19 related economic downturn, may have more limited access to capital and higher funding costs, may have a weaker financial position and may need more capital to expand or compete. These businesses also may experience substantial variations in operating results. They may face intense competition, including from companies with greater financial, technical and marketing resources. Furthermore, some of these companies do business in regulated industries and could be affected by changes in government regulation. Accordingly, these factors could impair their cash flow or result in other events, such as bankruptcy, which could limit their ability to repay their obligations to us, and may adversely affect the return on, or the recovery of, our investment in these companies. We cannot assure you that any of our investments in our portfolio companies will be successful. Our portfolio companies compete with larger, more established companies with greater access to, and resources for, further development in these new technologies. We may lose our entire investment in any or all of our portfolio companies. There may be circumstances where our debt investments could be subordinated to claims of other creditors or we could be subject to lender liability claims. If one of our portfolio companies were to file for bankruptcy, depending on the facts and circumstances, including the extent to which we actually provided managerial assistance to that portfolio company, a bankruptcy court might recharacterize our debt investment and subordinate all or a portion of our claim to that of other creditors. We may also be subject to lender liability claims for actions taken by us with respect to a borrower’s business or instances where we exercise control over the borrower. We generally will not control our portfolio companies. We do not expect to control most of our portfolio companies, even though we may have board representation or board observation rights, and our debt agreements with such portfolio companies may contain certain restrictive covenants. As a result, we are subject to the risk that a portfolio company in which we invest may make business decisions with which we disagree and the management of such company, as representatives of the holders of the company’s common equity, may take risks or otherwise act in ways that do not serve our interests. Due to the lack of liquidity for our investments in non-traded companies, we may not be able to dispose of our interests in our portfolio companies as readily as we would like or at an appropriate valuation in the event we disagree with the actions of a portfolio company. As a result, a portfolio company may make decisions that could decrease the value of our portfolio holdings. We may invest through joint ventures, partnerships or other special purpose vehicles and investments through these vehicles may entail greater risks, or risks that we otherwise would not incur, if we otherwise made such investments directly. We may co-invest with third parties through funds, joint ventures or other entities. Such investments may involve risks not present in investments where a third party is not involved, including the possibility that our co-venturer or partner may at any time have other business interests and investments other than the joint venture with us, or may have different economic or business goals. In addition, we may be liable for actions of our co-venturers or partners. Our ability to exercise control or significant influence over management in these cooperative efforts will depend upon the nature of the joint venture arrangement. In addition, such arrangements are likely to involve restrictions on the resale of our interest in the company. We will be exposed to risks associated with changes in interest rates. We are subject to financial market risks, including changes in interest rates. General interest rate fluctuations may have a substantial negative impact on our investments and investment opportunities and, accordingly, have a material adverse effect on our ability to achieve our investment objective and our target rate of return on invested capital. In addition, an increase in interest rates would make it more expensive to use debt for our financing needs, if any. See also “Risk Factors—To the extent we borrow money to finance our investments, changes in interest rates will affect our cost of capital and net investment income.” Starting in 2022, the U.S. Federal Reserve tightened monetary policy by increasing interest rates aggressively to combat inflation. The interest rates of some of our floating-rate loans to our portfolio companies may be priced using a spread over LIBOR, which is being phased out. We historically used the London Interbank Offered Rate ("LIBOR") as a reference for setting the interest rates on our loans, including floating rate loans that we extend to portfolio companies. Certain LIBOR rates were generally phased out by the end of 2021, and some regulated entities have ceased to enter into new LIBOR-based contracts beginning January 1, 2022. Most U.S. dollar London Interbank Offered Rate, or LIBOR, loans are no longer published after June 30, 2023 although certain synthetic rates will be published through September 30, 2024. The U.S. Federal Reserve, in conjunction with the Alternative Reference Rates Committee, a steering committee comprised of large U.S. financial institutions, supports replacing U.S. dollar LIBOR with SOFR. As of September 30, 2023, primarily all of our loan agreements with portfolio companies as well as our credit facilities either include fallback language to address a LIBOR replacement or such agreements have been amended to no longer utilize LIBOR as a factor in determining the interest rate. The transition away from LIBOR to alternative reference rates has been complex and the transition of our remaining loan agreements with portfolio companies to a LIBOR replacement could have a material adverse effect on our business, financial condition and results of operations, including as a result of any changes in the pricing of our investments, changes to the documentation for certain of our investments and the pace of such changes, disputes and other actions regarding the interpretation of current and prospective loan documentation or modifications to processes and systems. The health and performance of our portfolio companies could be adversely affected by political and economic conditions in the countries in which they conduct business. Some of the products of our portfolio companies are developed, manufactured, assembled, tested or marketed outside the U.S. Any conflict or uncertainty in these countries, including due to natural disasters, public health concerns (including the COVID-19 pandemic or a similar infectious disease outbreak), political unrest, terrorism or safety concerns, could harm their business, financial condition and results of operations. In addition, if the government of any country in which their products are developed, manufactured or sold sets technical or regulatory standards for products developed or manufactured in or imported into their country that are not widely shared, it may lead some of their customers to suspend imports of their products into that country, require manufacturers or developers in that country to manufacture or develop products with different technical or regulatory standards and disrupt cross-border manufacturing, marketing or business relationships which, in each case, could harm their businesses. We may expose ourselves to risks if we engage in hedging transactions. We may seek to hedge against interest rate and currency exchange rate fluctuations and credit risk by using financial instruments such as futures, options, swaps, forward contracts, caps, collars and floors, subject to the requirements of the 1940 Act. These financial instruments may be purchased on exchanges or may be individually negotiated and traded in over-the-counter markets. Use of such financial instruments for hedging purposes may present significant risks, including the risk of loss of the amounts invested. Defaults by the other party to a hedging transaction can result in losses in the hedging transaction. Hedging activities also involve the risk of an imperfect correlation between the hedging instrument and the asset being hedged, which could result in losses both on the hedging transaction and on the instrument being hedged. Hedging against a decline in the values of our portfolio positions does not eliminate the possibility of fluctuations in the values of such positions or prevent losses if the values of such positions decline. However, such hedging can establish other positions designed to gain from those same developments, thereby offsetting the decline in the value of such portfolio positions. Such hedging transactions may also limit the opportunity for gain if the values of the underlying portfolio positions increase. It may not be possible to hedge against an exchange rate or interest rate fluctuation that is so generally anticipated that we are not able to enter into a hedging transaction at an acceptable price. Moreover, for a variety of reasons, we may not seek to establish a perfect correlation between such hedging instruments and the portfolio holdings being hedged. Any such imperfect correlation may prevent us from achieving the intended hedge and expose us to risk of loss. In addition, it may not be possible to hedge fully or perfectly against currency fluctuations affecting the value of securities denominated in non-U.S. currencies because the value of those securities is likely to fluctuate as a result of factors not related to currency fluctuations. Further, hedging transactions may reduce cash available to pay distributions to our shareholders. A derivative transaction is also subject to the risk that a counterparty will default on its payment obligations thereunder or that we will not be able to meet our obligations to the counterparty. In some cases, we may post collateral to secure our obligations to the counterparty, and we may be required to post additional collateral upon the occurrence of certain events such as a decrease in the value of the reference security or other asset. In some cases, the counterparty may not collateralize any of its obligations to us. Derivative investments effectively add leverage to a portfolio by providing investment exposure to a security or market without owning or taking physical custody of such security or investing directly in such market. In addition to the risks described above, such arrangements are subject to risks similar to those associated with the use of leverage. See “Risk Factors — Risks Related to Debt Financing.” Our ability to enter into transactions involving derivatives and financial commitment transactions may be limited. Through comprehensive new global regulatory regimes impacting derivatives (e.g., the Dodd-Frank Act, European Market Infrastructure Regulation (“EMIR”), Markets in Financial Investments Regulation (“MIFIR”)/Markets in Financial Instruments Directive (“MIFID II”)), certain over-the-counter derivatives transactions in which we may engage are

Risks Related to Debt Financing

General Description of Registrant [Abstract]

Risk [Text Block]

Risks Related to Debt Financing We borrow money, which magnifies the potential for gain or loss on amounts invested and may increase the risk of investing in us. Borrowed money may also adversely affect the return on our assets, reduce cash available for distribution to our stockholders, and result in losses. Leverage is generally considered a speculative investment technique. Our ability to service any debt that we incur will depend largely on our financial performance and will be subject to prevailing economic conditions and competitive pressures. The use of leverage magnifies the potential for gain or loss on amounts invested and, therefore, increases the risks associated with investing in our securities. If the value of our assets decreases, leveraging would cause net asset value to decline more sharply than it otherwise would have had we not leveraged. Similarly, any decrease in our income would cause net income to decline more sharply than it would have had we not borrowed. Such a decline could negatively affect our ability to make distributions to our stockholders. In addition, our stockholders will bear the burden of any increase in our expenses as a result of our use of leverage, including interest expenses and any increase in the management or incentive fees payable to the Adviser. See also “Risk Factors—Our base management and incentive fees may induce the Adviser to make speculative investments or to incur leverage.” We may use leverage to finance our investments. The amount of leverage that we employ will depend on the Adviser’s and our Board’s assessment of market and other factors at the time of any proposed borrowing. There can be no assurance that leveraged financing will be available to us on favorable terms or at all. However, to the extent that we use leverage to finance our assets, our financing costs will reduce cash available for distributions to stockholders. Moreover, we may not be able to meet our financing obligations and, to the extent that we cannot, we risk the loss of some or all of our assets to liquidation or sale to satisfy the obligations. In such an event, we may be forced to sell assets at significantly depressed prices due to market conditions or otherwise, which may result in losses. We may default under our credit facilities. In the event we default under our credit facilities or other borrowings, our business could be adversely affected as we may be forced to sell a portion of our investments quickly and prematurely at what may be disadvantageous prices to us in order to meet our outstanding payment obligations and/or support working capital requirements under such borrowing facility, any of which would have a material adverse effect on our business, financial condition, results of operations and cash flows. In addition, following any such default, the agent for the lenders under such borrowing facility could assume control of the disposition of any or all of our assets, including the selection of such assets to be disposed and the timing of such disposition, which would have a material adverse effect on our business, financial condition, results of operations and cash flows. Provisions in a credit facility may limit our investment discretion. A credit facility may be backed by all or a portion of our loans and securities on which the lenders will have a security interest. We may pledge up to 100% of our assets and may grant a security interest in all of our assets under the terms of any debt instrument we enter into with lenders. We expect that any security interests we grant will be set forth in a pledge and security agreement and evidenced by the filing of financing statements by the agent for the lenders. In addition, we expect that the custodian for our securities serving as collateral for such loan would include in its electronic systems notices indicating the existence of such security interests and, following notice of occurrence of an event of default, if any, and during its continuance, will only accept transfer instructions with respect to any such securities from the lender or its designee. If we were to default under the terms of any debt instrument, the agent for the applicable lenders would be able to assume control of the timing of disposition of any or all of our assets securing such debt, which would have a material adverse effect on our business, financial condition, results of operations and cash flows. In connection with one or more credit facilities entered into by the Company, distributions to stockholders may be subordinated to payments required in connection with any indebtedness contemplated thereby. In addition, any security interests and/or negative covenants required by a credit facility may limit our ability to create liens on assets to secure additional debt and may make it difficult for us to restructure or refinance indebtedness at or prior to maturity or obtain additional debt or equity financing. In addition, if our borrowing base under a credit facility were to decrease, we may be required to secure additional assets in an amount sufficient to cure any borrowing base deficiency. In the event that all of our assets are secured at the time of such a borrowing base deficiency, we could be required to repay advances under a credit facility or make deposits to a collection account, either of which could have a material adverse impact on our ability to fund future investments and to make distributions. In addition, we may be subject to limitations as to how borrowed funds may be used, which may include restrictions on geographic and industry concentrations, loan size, payment frequency and status, average life, collateral interests and investment ratings, as well as regulatory restrictions on leverage which may affect the amount of funding that may be obtained. There may also be certain requirements relating to portfolio performance, including required minimum portfolio yield and limitations on delinquencies and charge-offs, a violation of which could limit further advances and, in some cases, result in an event of default. An event of default under a credit facility could result in an accelerated maturity date for all amounts outstanding thereunder, which could have a material adverse effect on our business and financial condition. This could reduce our liquidity and cash flow and impair our ability to grow our business. To the extent we borrow money to finance our investments, changes in interest rates will affect our cost of capital and net investment income. To the extent we borrow money to finance our investments, our net investment income will depend, in part, upon the difference between the rate at which we borrow funds and the rate at which we invest those funds. As a result, we can offer no assurance that a significant change in market interest rates will not have a material adverse effect on our net investment income in the event we borrow money to finance our investments. In periods of rising interest rates, our cost of funds would increase, which could reduce our net investment income. We expect that our long-term fixed-rate investments will be financed primarily with equity and long-term debt. We may use interest rate risk management techniques in an effort to limit our exposure to interest rate fluctuations. Such techniques may include various interest rate hedging activities to the extent permitted by the 1940 Act. Our Adviser does not have significant experience with utilizing these techniques and did not implement these techniques to any significant extent with our portfolio. If we do not implement these techniques properly, we could experience losses on our hedging positions, which could be material. A general increase in interest rates will likely have the effect of making it easier for our Adviser to receive incentive fees, without necessarily resulting in an increase in our net earnings. Under the structure of our Investment Advisory Agreement with our Adviser, any general increase in interest rates will likely have the effect of making it easier for our Adviser to meet the quarterly hurdle rate for payment of income incentive fees under the Investment Advisory Agreement without any additional increase in relative performance on the part of our Adviser. In addition, in view of the catch-up provision applicable to income incentive fees under the Investment Advisory Agreement, our Adviser could potentially receive a significant portion of the increase in our investment income attributable to such a general increase in interest rates. If that were to occur, our increase in net earnings, if any, would likely be significantly smaller than the relative increase in our Adviser’s income incentive fee resulting from such a general increase in interest rates. Our common stockholders will bear the expenses associated with our borrowings, and the holders of our debt securities will have certain rights senior to our common stockholders. All of the costs of offering and servicing our debt securities, including interest thereon, is borne by our common stockholders. The interests of the holders of any debt we may issue will not necessarily be aligned with the interests of our common stockholders. In particular, the rights of holders of our debt to receive interest or principal repayment will be senior to those of our common stockholders. In addition, we may grant a lender a security interest in a significant portion or all of our assets, even if the total amount we may borrow from such lender is less than the amount of such lender’s security interest in our assets. U.S. Federal Income Tax Risks We will be subject to corporate-level U.S. federal income tax if we are unable to qualify or maintain our RIC tax treatment under the Code. Although we have elected to be treated as a RIC, no assurance can be given that we will be able to continue to qualify for and maintain our RIC tax treatment under the Code. To continue to maintain our RIC tax treatment under the Code, we must meet the following source-of-income, asset diversification, and distribution requirements. The source-of-income requirement will be satisfied if we obtain at least 90% of our income for each year from dividends, interest, gains from the sale or other disposition of stock or securities or similar sources. The asset diversification requirement will be satisfied if we meet certain asset diversification requirements at the end of each quarter of our taxable year. Failure to meet those requirements may result in our having to dispose of certain investments quickly in order to prevent the loss of our RIC tax treatment under the Code. Because most of our investments will be in private companies, and therefore will be relatively illiquid, any such dispositions could be made at disadvantageous prices and could result in substantial losses. The annual distribution requirement for a RIC will be satisfied if we distribute to our stockholders on an annual basis at least 90% of our investment company taxable income (i.e. ordinary income plus realized net short-term capital gains in excess of realized net long-term capital losses, if any) and net tax-exempt income. Because we may use debt financing, we are subject to certain asset coverage ratio requirements under the 1940 Act, as well as future financial covenants under loan and credit agreements that could, under certain circumstances, restrict us from making distributions necessary to satisfy the RIC distribution requirement. If we are unable to obtain cash from other sources, we could fail to qualify for tax treatment as a RIC under the Code. If we fail to qualify for tax treatment as a RIC under the Code for any reason and become or remain subject to corporate-level U.S. federal income tax on all of our income, the resulting corporate taxes could substantially reduce our net assets, the amount of income available for distribution or reinvestment and the amount of our distributions. Due to potential disruptions in the economy, we may not be able to increase our dividends and may reduce or defer our dividends and choose to incur U.S. federal excise tax in order to preserve cash and maintain flexibility. As a BDC, we are not required to make any distributions to shareholders other than in connection with our election to be taxed as a RIC under Subchapter M of the Code. In order to maintain our tax treatment as a RIC, we must distribute to shareholders for each taxable year at least 90% of our investment company taxable income (i.e., ordinary income plus realized net short-term capital gains in excess of realized net long-term capital losses) and net tax-exempt income. If we qualify for taxation as a RIC, we generally will not be subject to corporate-level U.S. federal income tax on our investment company taxable income and net capital gains (i.e., realized net long-term capital gains in excess of realized net short-term capital losses) that we timely distribute to shareholders. As a RIC, we will be subject to a non-deductible 4.0% U.S. federal excise tax on undistributed earnings unless we distribute each calendar year at least the sum of (i) 98.0% of our ordinary income (taking into account certain deferrals and elections) for the calendar year, (ii) 98.2% of our capital gains in excess of capital losses for the one-year period ending on October 31 of the calendar year, and (iii) any ordinary income and capital gain net income that we recognized for preceding years, but were not distributed during such years, and on which we paid no U.S. federal income tax. Under the Code, we may satisfy certain of our RIC distribution requirements with dividends paid after the end of the current year. In particular, if we pay a distribution in January of the following year that was declared in October, November, or December of the current year and is payable to shareholders of record on a specified date in such a month, the dividend will be treated for all U.S. federal income tax purposes as if it were paid on December 31 of the current year. In addition, under the Code, we may pay dividends, referred to as “spillover dividends,” that are paid during the following taxable year that will allow us to maintain our qualification for taxation as a RIC and eliminate our liability for corporate-level U.S. federal income tax. Under these spillover dividend procedures, we may defer distribution of income earned during the current year until December of the following year. For example, we may defer distributions of income earned during 2023 until as late as December 31, 2024. If we choose to pay a spillover dividend, we will incur the 4.0% U.S. federal excise tax on some or all of the distribution. Due to disruptions in the economy, we may take certain actions with respect to the timing and amounts of our distributions in order to preserve cash and maintain flexibility. For example, the COVID-19 pandemic had an impact on our ability to declare distributions. In addition, we may reduce our dividends and/or defer our dividends to the following taxable year. If we defer our dividends, we may choose to utilize the spillover dividend rules discussed above and incur the 4.0% U.S. federal excise tax on such amounts. To further preserve cash, we may combine these reductions or deferrals of dividends with one or more distributions that are payable partially in our common stock as discussed below under “We may in the future choose to pay dividends in our own common stock, in which case you may be required to pay tax in excess of the cash you receive.” We may have difficulty paying our required distributions if we recognize income before or without receiving cash representing such income. For federal income tax purposes, we may be required to recognize taxable income in circumstances in which we do not receive a corresponding payment in cash. For example, if we hold debt obligations that are treated under applicable tax rules as having original issue discount (such as debt instruments with PIK interest or, in certain cases, increasing interest rates or debt instruments that were issued with warrants), we must include in income each year a portion of the original issue discount that accrues over the life of the obligation, regardless of whether cash representing such income is received by us in the same taxable year. We may also have to include in income other amounts that we have not yet received in cash, such as deferred loan origination fees that are paid after origination of the loan or are paid in non-cash compensation such as warrants or stock. Furthermore, we may invest in non-U.S. corporations (or other non-U.S. entities treated as corporations for U.S. federal income tax purposes) that could be treated under the Code and U.S. Treasury regulations as “passive foreign investment companies” and/or “controlled foreign corporations.” The rules relating to investment in these types of non-U.S. entities are designed to ensure that U.S. taxpayers are either, in effect, taxed currently (or on an accelerated basis with respect to corporate-level events) or taxed at increased tax rates upon certain distributions or disposition of the investment. In certain circumstances this could require us to recognize income where we do not receive a corresponding payment in cash. Unrealized appreciation on derivatives, such as foreign currency forward contracts, may be included in taxable income while the receipt of cash may occur in a subsequent period when the related contract expires. Any unrealized depreciation on investments that the foreign currency forward contracts are designed to hedge are not currently deductible for tax purposes. This can result in increased taxable income whereby we may not have sufficient cash to pay distributions or we may opt to retain such taxable income and pay a 4% excise tax. In such cases we could still rely upon the spillover dividend procedures to maintain RIC tax treatment. We anticipate that a portion of our income may constitute original issue discount or other income required to be included in taxable income prior to receipt of cash. Further, we may elect to accrue market discount with respect to debt securities acquired in the secondary market and include such amounts in our taxable income in the current year, instead of upon disposition, as an election not to do so would limit our ability to deduct interest expenses for tax purposes. Because any original issue discount or other amounts accrued will be included in our investment company taxable income for the year of the accrual, we may be required to make a distribution to our stockholders in order to satisfy the annual distribution requirement, even though we will not have received any corresponding cash amount. As a result, we may have difficulty meeting the annual distribution requirement necessary to qualify for and maintain RIC tax treatment under the Code. We may have to sell some of our investments at times and/or at prices we would not consider advantageous, raise additional debt or equity capital or forgo new investment opportunities for this purpose. If we are not able to obtain cash from other sources, we may fail to qualify for or maintain RIC tax treatment and thus become subject to corporate-level income tax. If we do not qualify as a “publicly offered regulated investment company,” as defined in the Code, a non-corporate stockholder will be taxed as though it received a distribution of some of our expenses. A “publicly offered regulated investment company” or “publicly offered RIC” is a RIC whose shares are either (i) continuously offered pursuant to a public offering within the meaning of Section 4 of the 1933 Act, (ii) regularly traded on an established securities market or (iii) held by at least 500 persons at all times during the taxable year. We believe that we currently do not qualify as a publicly offered RIC, although we may qualify as a publicly offered RIC for future years. If we are not a publicly offered RIC for any period, a non-corporate stockholder’s allocable portion of our affected expenses, including our management fees, will be treated as an additional distribution to the stockholder and will be treated as miscellaneous itemized deductions that are deductible only to the extent permitted by applicable law. Under current law, such expenses will not be deductible by any such stockholder for tax years that begin prior to January 1, 2026 and are deductible subject to limitation thereafter. We may in the future choose to pay dividends in our own common stock, in which case you may be required to pay tax in excess of the cash you receive. We may distribute taxable dividends that are payable in part in our common stock. In accordance with certain applicable U.S. Treasury regulations and published guidance issued by the Internal Revenue Service, a publicly offered RIC may treat a distribution of its own stock as fulfilling the RIC distribution requirements if each shareholder may elect to receive his or her entire distribution in either cash or stock of the RIC, subject to a limitation that the aggregate amount of cash available to be distributed to all shareholders must be at least 20.0% of the aggregate declared distribution. If too many shareholders elect to receive cash, the cash available for distribution must be allocated among the shareholders electing to receive cash (with the balance of the distribution paid in stock). In no event will any shareholder, electing to receive cash, receive less than 20.0% of its entire distribution in cash. If these and certain other requirements are met, for U.S. federal income tax purposes, the amount of the dividend paid in stock will be equal to the amount of cash that could have been received instead of stock. Taxable shareholders receiving such dividends will be required to include the amount of the dividends as ordinary income (or as long-term capital gain to the extent such distribution is properly reported as a capital gain dividend) to the extent of our current or accumulated earnings and profits for U.S. federal income tax purposes. As a result, a U.S. shareholder may be required to pay tax with respect to such dividends in excess of any cash received. If a U.S. shareholder sells the stock it receives as a dividend in order to pay this tax, the sales proceeds may be less than the amount included in income with respect to the dividend, depending on the market price of our common stock at the time of the sale. Furthermore, with respect to non-U.S. shareholders, we may be required to withhold U.S. tax with respect to such dividends, including in respect of all or a portion of such dividend that is payable in common stock. The current published guidance that allows certain stock distributions of a RIC to fulfill the RIC's own distribution requirements applies only to publicly offered RICs. The Company believes that it currently does not qualify as a publicly offered RIC, although the Company may qualify as a publicly offered RIC for future years. Non-U.S. shareholders may be subject to withholding of U.S. federal income tax on distributions we pay. Distributions of our “investment company taxable income” to a non-U.S. shareholder that are not effectively connected with the non-U.S. shareholder’s conduct of a trade or business within the United States will generally be subject to withholding of U.S. federal income tax at a 30% rate (or lower rate provided by an applicable income tax treaty) to the extent of our current or accumulated earnings and profits. Certain properly reported distributions are generally exempt from withholding of U.S. federal income tax where they are paid in respect of our (i) “qualified net interest income” (generally, our U.S.-source interest income, other than certain contingent interest and interest from obligations of a corporation or partnership in which we or the non-U.S. shareholder are at least a 10% shareholder, reduced by expenses that are allocable to such income) or (ii) “qualified short-term gains” (generally, the excess of our net short-term capital gain over our net long-term capital loss for such taxable year), and certain other requirements are satisfied.

Federal Income Tax Risks

General Description of Registrant [Abstract]

Risk [Text Block]

NO ASSURANCE CAN BE GIVEN AS TO WHETHER ANY OF OUR DISTRIBUTIONS WILL BE ELIGIBLE FOR THIS EXEMPTION FROM WITHHOLDING OF U.S. FEDERAL INCOME TAX OR, IF ELIGIBLE, WILL BE REPORTED AS SUCH BY US. IN PARTICULAR, THIS EXEMPTION WILL NOT APPLY TO OUR DISTRIBUTIONS PAID IN RESPECT OF OUR NON-U.S. SOURCE INTEREST INCOME OR OUR DISTRIBUTION INCOME (OR ANY OTHER TYPE OF INCOME OTHER THAN GENERALLY OUR NON-CONTINGENT U.S. SOURCE INTEREST INCOME RECEIVED FROM UNRELATED OBLIGORS AND OUR QUALIFIED SHORT-TERM CAPITAL GAINS). IN THE CASE OF OUR COMMON STOCK HELD THROUGH AN INTERMEDIARY, THE INTERMEDIARY MAY WITHHOLD U.S. FEDERAL INCOME TAX EVEN IF WE REPORT THE PAYMENT AS QUALIFIED NET INTEREST INCOME OR QUALIFIED SHORT-TERM GAIN. Legislative or other actions relating to taxes could have a negative effect on us. The rules dealing with U.S. federal income taxation are constantly under review by persons involved in the legislative process and by the Internal Revenue Service and the U.S. Treasury Department. New legislation and any U.S. Treasury regulations, administrative interpretations or court decisions interpreting such legislation could significantly and negatively affect our ability to qualify for tax treatment as a RIC or the U.S. federal income tax consequences to us and our investors of such qualification or could have other adverse consequences. Investors are urged to consult with their tax adviser regarding tax legislative, regulatory or administrative developments and proposals and their potential effect on an investment in our securities.

Risks Relating to an Investment in Our Common Stock

General Description of Registrant [Abstract]

Risk [Text Block]

Risks Relating to an Investment in Our Common Stock An investment in our common stock will have limited liquidity and you may not receive a full return of your invested capital if you sell your shares. Until we complete a liquidity event, it is unlikely that you will be able to sell your shares. Our common stock is an illiquid asset for which and there is not expected to be any secondary market, nor is it expected that any will develop in the foreseeable future. In April 2020 the Company submitted to the SEC an application for exemptive relief intended, if granted, to provide investors with liquidity options with respect to their investments in shares of the Company’s common stock. In August 2022, the SEC Staff informed the Company that it did not intend to grant the Company's application at the current time, and the Company withdrew its application. The Company's Board continues to consider alternative means of liquidity for the Company's stockholders, including potentially listing the shares of the Company on a national securities exchange or commencing periodic repurchase or tender offers in the future (a "Liquidity Action"). The Company will wind down its operations within ten years after the Initial Closing Date, unless the Board and/or stockholders determine to take a Liquidity Action. Until the Company completes such a Liquidity Action it it is unlikely that you will be able to sell your shares. If our common stock is listed, we cannot assure you that a public trading market will develop. Further, even if we complete a Liquidity Action, you may not receive a return of all of your invested capital. We will have broad discretion over the use of proceeds of any successful offering of securities. We will have significant flexibility in applying the proceeds of any successful offering of our securities. We will also pay operating expenses and may pay ot her expenses such as due diligence expenses of potential new investments, from net proceeds. Our ability to achieve our investment objective may be limited to the extent that the net proceeds of any offering, pending full investment, are used to pay operat ing expenses. In addition, we can provide you no assurance that any offering will be successful, or that by increasing the size of our available equity capital, our aggregate expenses, and correspondingly, our expense ratio, will be lowered. Delays in investing the net proceeds raised in an offering of our securities may impair our performance. We cannot assure you that we will be able to identify any investments that meet our investment objective or that any investment that we make will produce a positive return. We may be unable to invest the net proceeds of any offering on acceptable terms within the time period that we anticipate or at all, which could adversely affect our financial condition and operating results. In addition, even if we are able to raise significant proceeds, we will not be permitted to use such proceeds to co-invest with certain entities affiliated with the Adviser in transactions originated by the Adviser or their respective affiliates except pursuant to the exemptive order granted by the SEC or co-invest alongside the Adviser or its respective affiliates in accordance with existing regulatory guidance. However, we will be permitted to and may co-invest in syndicated deals and secondary loan market transactions where price is the only negotiated point. Before making investments, we will invest the net proceeds of this offering primarily in cash, cash equivalents, U.S. government securities, repurchase agreements and high-quality debt instruments maturing in one year or less from the time of investment, which may produce returns that are significantly lower than the returns that we expect to achieve when our portfolio is fully invested in securities meeting our investment objective. As a result, any distributions that we pay while our portfolio is not fully invested in securities meeting our investment objective may be lower than the distributions that we may be able to pay when our portfolio is fully invested in securities meeting our investment objective. A stockholder’s interest in us will be diluted if we issue additional shares of common stock, which could reduce the overall value of an investment in us. Potential investors will not have preemptive rights to purchase any common stock we issue in the future. Our charter authorizes us to issue 1,000,000,000 shares of common stock. Pursuant to our charter, a majority of our entire Board may amend our charter to increase or decrease the number of authorized shares of common stock without stockholder approval. We intend to sell additional shares of common stock from time to time. To the extent that we issue additional shares of common stock at or below net asset value after an investor purchases shares of our common stock, an investor’s percentage ownership interest in us will be diluted. In addition, depending upon the terms and pricing of any additional offerings and the value of our investments, an investor may also experience dilution in the book value and fair value of his or her shares of common stock. We have adopted a dividend reinvestment plan pursuant to which we reinvest all cash distributions declared by the Board on behalf of investors who do not elect to receive their distributions in cash. As a result, if the Board declares a cash distribution, then our stockholders who have not opted out of our dividend reinvestment plan will have their cash distributions automatically reinvested in additional shares of our common stock, rather than receiving the cash distribution. As a result, our stockholders that do not participate in our dividend reinvestment plan will experience dilution in their ownership percentage of our common stock over time. Our Board is authorized to reclassify any unissued shares of common stock into one or more classes of preferred stock, which could convey special rights and privileges to its owners. Under Maryland General Corporation Law (the “MGCL”) and our charter, our Board is authorized to classify and reclassify any authorized but unissued shares of stock into one or more classes of stock, including preferred stock. Prior to the issuance of shares of each class or series, our Board will be required by Maryland law and our charter to set the terms, preferences, conversion or other rights, voting powers, restrictions, limitations as to dividends or other distributions, qualifications and terms or conditions of redemption for each class or series. Thus, our Board could authorize the issuance of shares of preferred stock with terms and conditions that could have the effect of delaying, deferring or preventing a transaction or a change in control that might involve premium prices for holders of our common stock or otherwise be in their best interest. The cost of any such reclassification would be borne by our common stockholders. Certain matters under the 1940 Act require the separate vote of the holders of any issued and outstanding preferred stock. For example, holders of preferred stock would vote as a separate class from the holders of common stock on a proposal to cease operations as a BDC. In addition, the 1940 Act provides that holders of preferred stock are entitled to vote separately from holders of common stock to elect two preferred stock directors. The issuance of preferred shares convertible into shares of common stock may also reduce the net income and net asset value per share of our common stock upon conversion, provided, that we will only be permitted to issue such convertible preferred stock to the extent we comply with the requirements of Section 61 of the 1940 Act, including obtaining common stockholder approval. These effects, among others, could have an adverse effect on your investment in our common stock. If we issue preferred stock, the net asset value of our common stock will likely become more volatile. We cannot assure you that the issuance of preferred stock would result in a higher yield or return to the holders of our common stock. The issuance of preferred stock would likely cause the net asset value of the common stock to become more volatile. If the dividend rate on the preferred stock were to approach the net rate of return on our investment portfolio, the benefit of leverage to the holders of the common stock would be reduced. If the dividend rate on the preferred stock were to exceed the net rate of return on our portfolio, the leverage would result in a lower rate of return to the holders of common stock than if we had not issued preferred stock. Any decline in the net asset value of our investments would be borne entirely by the holders of common stock. Therefore, if the market value of our portfolio were to decline, the leverage would result in a greater decrease in net asset value to the holders of common stock than if we were not leveraged through the issuance of preferred stock. We might be in danger of failing to maintain the required asset coverage of the preferred stock or of losing our ratings, if any, on the preferred stock or, in an extreme case, our current investment income might not be sufficient to meet the dividend requirements on the preferred stock. In order to counteract such an event, we might need to liquidate investments in order to fund a redemption of some or all of the preferred stock. In addition, we would pay (and the holders of common stock would bear) all costs and expenses relating to the issuance and ongoing maintenance of the preferred stock, including higher advisory fees if our total return exceeds the dividend rate on the preferred stock. Holders of preferred stock may have different interests than holders of common stock and may at times have disproportionate influence over our affairs. Holders of any preferred stock we might issue would have the right to elect members of our Board and class voting rights on certain matters. Holders of any preferred stock we might issue, voting separately as a single class, would have the right to elect two members of our Board at all times and in the event dividends become two full years in arrears would have the right to elect a majority of the directors until such arrearage is completely eliminated. In addition, preferred stockholders have class voting rights on certain matters, including changes in fundamental investment restrictions and conversion to open-end status, and accordingly can veto any such changes. Restrictions imposed on the declarations and payment of dividends or other distributions to the holders of our common stock and preferred stock, both by the 1940 Act and by requirements imposed by rating agencies, if any, or the terms of our credit facilities, if any, might impair our ability to maintain our RIC tax treatment under the Code for U.S. federal income tax purposes. While we would intend to redeem our preferred stock to the extent necessary to enable us to distribute our income as required to maintain our qualification as a RIC, there can be no assurance that such actions could be effected in time to meet the tax requirements. Provisions of the MGCL and our organizational documents could deter takeover attempts and have an adverse impact on the prices of our common stock. The Maryland General Corporation Law and our charter and bylaws contain provisions that may discourage, delay or make more difficult a change in control of the Company or the removal of our directors. We are subject to the Maryland Business Combination Act, subject to any applicable requirements of the 1940 Act. Our Board has adopted a resolution exempting from the Maryland Business Combination Act any business combination between us and any other person, subject to prior approval of such business combination by our Board, including approval by a majority of our independent directors. If the resolution exempting business combinations is repealed or our Board does not approve a business combination, the Maryland Business Combination Act may discourage third parties from trying to acquire control of us and increase the difficulty of consummating such an offer. Our bylaws exempt from the Maryland Control Share Acquisition Act (the “Control Share Act”) acquisitions of our stock by any person. If we amend our bylaws to repeal the exemption from the Control Share Act, the Maryland Control Share Acquisition Act also may make it more difficult for a third-party to obtain control of us and increase the difficulty of consummating such a transaction. The SEC staff has rescinded its position that, under the 1940 Act, an investment company may not avail itself of the Control Share Act. As a result, we will amend our bylaws to be subject to the Control Share Act only if our Board determines that it would be in our best interests. We have also adopted measures that may make it difficult for a third-party to obtain control of us, including provisions of our charter classifying our Board in three classes serving staggered three-year terms, and authorizing our Board to classify or reclassify shares of our stock in one or more classes or series, to cause the issuance of additional shares of our stock, to amend our charter without stockholder approval and to increase or decrease the number of shares of stock that we have authority to issue. These provisions, as well as other provisions of our charter and bylaws, may delay, defer or prevent a transaction or a change in control that might otherwise be in the best interests of our stockholders. The foregoing provisions are expected to discourage certain coercive takeover practices and inadequate takeover bids and to encourage persons seeking to acquire control of us to negotiate first with our Board. However, these provisions may deprive a stockholder of the opportunity to sell such stockholder’s shares at a premium to a potential acquirer. We believe that the benefits of these provisions outweigh the potential disadvantages of discouraging any such acquisition proposals because, among other things, the negotiation of such proposals may improve their terms. Our Board has considered both the positive and negative effects of the foregoing provisions and determined that they are in the best interest of our stockholders. Investing in our common stock involves a high degree of risk. The investments we make in accordance with our investment objective may result in a higher amount of risk than alternative investment options and volatility or loss of principal. Our investments in portfolio companies may be highly speculative and aggressive and, therefore, an investment in our common stock may not be suitable for investors with lower risk tolerance. The net asset value of our common stock may fluctuate significantly. The net asset value and liquidity, if any, of the market for shares of our common stock may be significantly affected by numerous factors, some of which are beyond our control and may not be directly related to our operating performance. These factors include: • changes in regulatory policies or tax guidelines, particularly with respect to RICs or BDCs; • loss of RIC or BDC status; • changes in earnings or variations in operating results; • changes in the value of our portfolio of investments; • changes in accounting guidelines governing valuation of our investments; • any shortfall in revenue or net income or any increase in losses from levels expected by investors; • departure of either of our adviser or certain of its respective key personnel; • general economic trends and other external factors; and • loss of a major funding source. Certain large stockholders could influence, and may continue to exert influence, over our management and affairs and over most influence votes requiring stockholder approval. We have holders that own a significant portion of our common stock. As of December 31, 2023, BC Partners and its affiliates owned 25.6% of our outstanding common stock. Therefore, each such holder is able to exert, and may be able to continue to exert, influence over our management and policies and have significant voting influence on most votes requiring stockholder approval. This concentration of ownership may also have the effect of delaying, preventing or deterring a change of control of us and could deprive our stockholders of an opportunity to receive a premium for their common stock as part of a sale of us. As a condition of our co-investment exemptive relief, as our Adviser, its principals, and any person controlling, controlled by or under common control with our Adviser or its principals own in the aggregate more than 25% of our common stock they are required to vote such shares as directed by an independent third party when voting on the election or removal of directors and any other matter affecting the composition, size or manner of election of our Board.

[1] Represents the impact of different share amounts used in calculating per share data as a result of calculating certain per share data based on weighted average shares outstanding during the year or period and certain per share data on shares outstanding as of a year or period end or transaction date.

Organization

Organization	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Note 1. Organization BC Partners Lending Corporation (“BCPL” or the “Company”) is a Maryland corporation formed on December 22, 2017. The Company has elected to be regulated as a business development company (“BDC”) under the Investment Company Act of 1940, as amended (the “1940 Act”). In addition, the Company has elected to be treated for U.S. federal income tax purposes, and intends to qualify annually, as a regulated investment company (“RIC”) under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”). The Company is an emerging growth company as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and the Company will take advantage of the extended transition period for complying with certain new or revised accounting standards provided for emerging growth companies in Section 7(a)(2)(B) of the Securities Act of 1933, as amended (the “Securities Act”). The Company’s investment objective is to make investments that generate current income and, to a lesser extent, capital appreciation. The Company intends to invest primarily in private middle-market companies in the form of secured debt, unsecured debt, other debt and/or equity securities. In addition, to a lesser extent, the Company may invest in securities of public companies and in structured products. The Company was formed primarily to invest in the U.S. middle-market credit sector. On October 25, 2019, the Company formed a wholly-owned, special-purpose, bankruptcy-remote subsidiary, Great Lakes BCPL Funding Ltd. (“BCPL Funding”), a Cayman Islands exempted company, which holds certain of the Company’s portfolio loan investments that are used as collateral for the debt financing facility at BCPL Funding. On January 28, 2020, the Company formed a wholly-owned, bankruptcy-remote subsidiary, BCPL Sub Holdings LLC, a Delaware limited liability company, which holds the Company’s equity investment. The Company is managed by BC Partners Advisors L.P. (the “Adviser”), an affiliate of BC Partners LLP (“BC Partners”). BC Partners Management LLC (the “Administrator”), also an affiliate of BC Partners, provides administrative services necessary for the Company to operate. The Company conducts private offerings (each, a “Private Offering”) of its common stock to accredited investors in reliance on exemptions from the registration requirements of the Securities Act. At the closing of each Private Offering, each investor makes a capital commitment (a “Capital Commitment”) to purchase shares of the Company’s common stock pursuant to a subscription agreement entered into with the Company. Investors are required to fund drawdowns to purchase shares of the Company’s common stock up to the amount of their respective Capital Commitment on an as-needed basis each time the Company delivers a drawdown notice to its investors. The Company’s initial Private Offering closed on September 26, 2019 (the “Initial Closing”). In April 2020 the Company submitted to the SEC an application for exemptive relief intended, if granted, to provide investors with liquidity options with respect to their investments in shares of the Company’s common stock. In August 2022, the SEC Staff informed the Company that it did not intend to grant the Company's application at the current time, and the Company withdrew its application. The Company's board of directors (the "Board") continues to consider alternative means of liquidity for the Company's stockholders, including potentially listing the shares of the Company on a national securities exchange or commencing periodic repurchase or tender offers in the future (a "Liquidity Action"). The Company will wind down its operations within ten years after the after the Initial Closing Date, unless the Board and/or stockholders determine to take a Liquidity Action. The Company’s fiscal year ends on December 31.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Significant Accounting Policies	Note 2. Significant Accounting Policies Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) pursuant to the requirements for reporting on Form 10-K and Regulation S-X, as appropriate. These consolidated financial statements reflect adjustments that in the opinion of the Company are necessary for the fair presentation of the financial position and results of operations as of and for the periods presented herein. The Company is an investment company under U.S. GAAP and therefore applies the accounting and reporting guidance applicable to investment companies. The Company has evaluated subsequent events through the date of issuance of the consolidated financial statements. Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements. Actual results could differ from those estimates, and such differences could be material. Consolidation In accordance with U.S. GAAP guidance on consolidation, the Company will generally not consolidate its investment in a portfolio company other than an investment company subsidiary or a controlled operating company whose business consists of providing services to the Company. Accordingly, the Company consolidated the accounts of the Company’s wholly-owned subsidiaries in its consolidated financial statements. All significant intercompany balances and transactions have been eliminated in consolidation. Segments In accordance with U.S. GAAP guidance on segment reporting, the Company has determined that its operations comprise a single reporting segment. Cash and Restricted Cash Cash consists of deposits held at a custodian bank. Restricted cash consists of deposits pledged as collateral. Cash and restricted cash are held at major financial institutions and, at times, may exceed the insured limits under applicable law. Investments Investment transactions are recorded on the trade date. Realized gains or losses on investments are calculated using the specific identification method as the difference between the net proceeds received (excluding prepayment fees, if any) and the amortized cost basis of the investment without regard to unrealized appreciation or depreciation previously recognized, and include investments charged off during the period, net of recoveries. Net change in unrealized appreciation or depreciation reflects the change in portfolio investment values during the reporting period, including any reversal of previously recorded unrealized appreciation or depreciation when gains or losses are recognized. Investments for which market quotations are available are typically valued at those market quotations. To validate market quotations, the Company will utilize a number of factors to determine if the quotations are representative of fair value, including the source and number of the quotations. Debt that is not publicly traded but for which there are external pricing sources available as of the valuation date is valued using independent broker-dealer, market maker quotations or independent pricing services. The valuation committee, comprised of members of the Adviser, (the “Valuation Committee”) subjects these quotes to various criteria including, but not limited to, the number and quality of quotes, the deviation among the quotes and information derived from analyzing the Company's own transactions in such investments throughout the reporting period. Generally, such investments are categorized in level 2 of the fair value hierarchy, unless the Valuation Committee determines that the quality, quantity or deviation among quotes warrants significant adjustment to the inputs utilized. The Board has designated the Adviser as its "valuation designee" pursuant to Rule 2a-5 under the 1940 Act, and in that role the Adviser is responsible for performing fair value determinations relating to all of the Company's investments, including periodically assessing and managing any material valuation risks and establishing and applying fair value methodologies, in accordance with valuation policies and procedures that have been approved by the Board. The Board remains ultimately responsible for fair value determinations under the 1940 Act and satisfies its responsibility through oversight of the valuation designee in accordance with Rule 2a-5. Investments that are not publicly traded or whose market prices are not readily available, as is expected to be the case for substantially all of the Company’s investments, are valued at fair value as determined in good faith by the Adviser, based on, among other things, input of independent third-party valuation firm(s). The Adviser undertakes a multi-step valuation process, which includes, among other procedures, the following: • The Company’s quarterly valuation process begins with each portfolio company or investment being initially valued using certain inputs, among others, provided by the investment professionals responsible for the portfolio investment in conjunction with the Company’s portfolio management team. The Company utilizes an independent valuation firm to provide valuation on each material illiquid security at least once every trailing 12-month period; • Preliminary valuations are reviewed and discussed with management of the Adviser and investment professionals; and • The Adviser will review the valuations and determine the fair value of each investment. Valuations that are not based on readily available market quotations will be valued in good faith based on, among other things, the input of, where applicable, third parties. As part of the valuation process, the Adviser may consider other information and may use valuation methods including but not limited to (i) market quotes for similar investments, (ii) recent trading activity, (iii) discounting forecasted cash flows of the investment, (iv) models that consider the implied yields from comparable debt, (v) third party appraisal, (vi) sale negotiations and purchase offers received from independent parties and (vii) estimated value of underlying assets to be received in liquidation or restructuring. Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the fair value of our investments may fluctuate from period to period. Additionally, the fair value of such investments may differ significantly from the values that would have been used had a ready market existed for such investments and may differ materially from the values that may ultimately be realized. Further, such investments are generally less liquid than publicly traded securities and may be subject to contractual and other restrictions on resale. If the Company were required to liquidate a portfolio investment in a forced or liquidation sale, it could realize amounts that are different from the amounts presented and such differences could be material. In addition, changes in the market environment and other events that may occur over the life of the investments may cause the gains or losses ultimately realized on these investments to be different than the unrealized gains or losses reflected herein. Under existing accounting guidance, fair value is defined as the price that the Company would receive upon selling an investment or pay to transfer a liability in an orderly transaction to a market participant in the principal or most advantageous market for the investment. This accounting guidance emphasizes valuation techniques that maximize the use of observable market inputs and minimize the use of unobservable inputs. Inputs refer broadly to the assumptions that market participants would use in pricing an asset or liability, including assumptions about risk. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing an asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the assumptions market participants would use in pricing an asset or liability developed based on the best information available in the circumstances. The Company classifies the inputs used to measure these fair values into the following hierarchy as defined by current accounting guidance: Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities that are accessible to the Company. Level 2: Quoted prices for similar assets or liabilities in active markets, or quoted prices for identical or similar assets or liabilities in markets that are not active, or other observable inputs other than quoted prices. Level 3: Significant inputs that are unobservable for an asset or liability. A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Investments for which no external pricing sources are available as of the valuation date are included in level 3 of the fair value hierarchy. Forward Contracts The Company may enter into forward purchase contracts primarily to manage credit risk. When entering into a forward purchase contract, the Company agrees to deliver a fixed quantity of securities for an agreed-upon price on an agreed future date. Forward contracts entered into by the Company are not designated as hedging instruments, and as a result, the Company presents changes in fair value through net change in unrealized appreciation (depreciation) on derivative instruments in the consolidated statements of operations. Realized and unrealized gains and losses of derivative instruments are included in the consolidated statements of operations. These instruments involve market risk, credit risk, or both kinds of risks. Risks arise from the possible inability of counterparties to meet the terms of their contracts and movements in fair value. The Company attempts to limit counterparty risk by only dealing with well-known counterparties. Revenue Recognition Interest income is recorded on an accrual basis and includes the accretion of discounts and amortization of premiums. Discounts from and premiums to par value on debt investments purchased are accreted/amortized into interest income over the life of the respective security using the effective interest method. The amortized cost of debt investments represents the original cost, including origination fees and upfront fees received that are deemed to be an adjustment to yield, adjusted for the accretion of discounts and amortization of premiums, if any. Loans are generally placed on non-accrual status when there is reasonable doubt that principal or interest will be collected in full. The Company considers many factors relevant to an investment when placing it on or removing it from non-accrual status including, but not limited to, the delinquency status of the investment, economic and business conditions, the overall financial condition of the underlying investment, the value of the underlying collateral, bankruptcy status, if any, and any other facts or circumstances relevant to the investment. Accrued interest is generally reversed when a loan is placed on non-accrual status. Payments received on non-accrual loans may be recognized as income or applied to principal depending upon management’s judgment regarding collectability of the outstanding principal and interest. Non-accrual loans may be restored to accrual status when past due principal and interest is paid current and are likely to remain current based on management’s judgment. Dividend income on preferred equity securities is recorded on the accrual basis to the extent that such amounts are payable by the portfolio company and are expected to be collected. Dividend income on common equity securities is recorded on the record date for private portfolio companies or on the ex-dividend date for publicly-traded portfolio companies. Loan origination fees, original issue discount and market discount are capitalized, and the Company amortizes such amounts as interest income over the respective term of the loan or security. Upon the prepayment of a loan or security, any unamortized loan origination fees and original issue discount are recorded as interest income. The Company records prepayment premiums on loans and securities as fee income when it receives such amounts. Payment-in-Kind Interest Payment-in-kind (“PIK”) interest, computed at the contractual rate specified in each loan agreement, is added to the principal balance of the loan and recorded as interest income and generally becomes due at maturity. To maintain the Company’s tax treatment as a RIC, this non-cash source of income may be required to be paid out to stockholders in the form of distributions, even though the Company has not yet collected the cash. Deferred Financing Costs Origination and other expenses related to the Company’s borrowings are recorded as deferred financing costs and amortized as part of interest expense using the straight-line method over the stated life of the debt instrument. Unamortized deferred financing costs are presented as a direct deduction to the respective debt instrument. Organization and Offering Costs Organization costs include, among other things, the cost of incorporating, including the cost of legal services and other fees pertaining to the Company’s organization. Costs associated with the organization of the Company are expensed as incurred. Offering costs include, among other things, marketing expenses and printing, legal fees, due diligence fees, and other costs in connection with the Company’s offering of shares of its common stock, including the preparation of the Company’s registration statement, and salaries and direct expenses of the Adviser’s personnel, employees of its affiliates and others while engaged in such activities. Offering costs are capitalized as deferred offering expenses and are amortized over twelve months from incurrence. Earnings per Share Basic earnings per share is calculated by dividing net income or loss attributable to common stockholders by the weighted average number of common stock outstanding during the period. Income Taxes The Company has elected to be treated for U.S. federal income tax purposes, and intends to qualify annually, as a RIC under Subchapter M of the Code. So long as the Company maintains its status as a RIC, it will generally not pay corporate-level U.S. federal income or excise taxes on any ordinary income or capital gains that it distributes at least annually to its stockholders as distributions. Any tax liability related to income earned and distributed by the Company represents obligations of the Company’s stockholders and will not be reflected in the consolidated financial statements of the Company. To qualify for and maintain status as a RIC, the Company must, among other things, meet certain source-of-income and asset diversification requirements. In addition, to qualify for RIC tax treatment, the Company must distribute to its stockholders, for each taxable year, at least 90 % of its “investment company taxable income” (which is generally its ordinary income plus the excess, if any, of its realized net short-term capital gains over its realized net long-term capital losses) and net tax-exempt income for that year. In order for the Company not to be subject to U.S. federal excise taxes, it must distribute annually an amount at least equal to the sum of (i) 98 % of its ordinary income (taking into account certain deferrals and elections) for the calendar year, (ii) 98.2 % of its capital gains in excess of capital losses for the one-year period ending on October 31 of the calendar year, and (iii) any ordinary income and net capital gains for preceding years that were not distributed during such years and on which the Company paid no U.S. federal income tax. The Company, at its discretion, may carry forward taxable income in excess of calendar year distributions and pay a 4 % nondeductible U.S. federal excise tax on this income. The Company evaluates tax positions taken or expected to be taken in the course of preparing its consolidated financial statements to determine whether the tax positions are “more-likely-than-not” to be sustained by the applicable tax authority. Tax positions not deemed to meet the “more-likely-than-not” threshold are reserved and recorded as a tax benefit or expense in the current year. All penalties and interest associated with income taxes are included in income tax expense. Conclusions regarding tax positions are subject to review and may be adjusted at a later date based on factors including, but not limited to, on-going analyses of tax laws, regulations and interpretations thereof. The Company has analyzed the tax positions taken on federal and state income tax returns for all open tax years and has concluded that no provision for income tax for uncertain tax positions is required in the Company’s consolidated financial statements. The Company’s major tax jurisdictions are U.S. federal, New York State, and foreign jurisdictions where the Company makes significant investments. The Company’s federal and state income and federal excise tax returns for tax years for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state departments of revenue. Distributions to Common Stockholders Distributions to the Company’s stockholders are recorded on the record date. The amount to be paid out as a distribution is determined by the Board and is generally based upon earnings estimated by the Adviser. Net realized capital gains, if any, would generally be distributed at least annually, although the Company may decide to retain such capital gains. The Company has adopted an “opt out” dividend reinvestment plan (“DRP”) for its stockholders. As a result, if the Company makes a cash distribution, its stockholders will have their cash distributions reinvested in additional shares of the Company’s common stock, including fractional shares as necessary, unless they specifically “opt out” of the DRP to receive the distribution in cash. Under the DRP, cash distributions to participating stockholders will be reinvested in additional shares of the Company’s common stock at a purchase price equal to the net asset value per share as of the last day of the calendar quarter immediately preceding the date such distribution was declared. The Company may distribute taxable distributions that are payable in cash or part in its common stock. In accordance with certain applicable U.S. Treasury regulations and published guidance issued by the Internal Revenue Service, a publicly offered RIC may treat a distribution of its own stock as fulfilling the RIC distribution requirements if each shareholder may elect to receive his or her entire distribution in either cash or stock of the RIC subject to a limitation that the aggregate amount of cash available to be distributed to all shareholders must be at least 20 % of the aggregate declared distribution. If too many shareholders elect to receive cash, the cash available for distribution must be allocated among the stockholders electing to receive cash (with the balance of the distribution paid in stock). In no event will any shareholder electing to receive cash receive less than 20.0 % of its entire distribution in cash. If these and certain other requirements are met for U.S. federal income tax purposes, the amount of the distribution paid in stock will be equal to the amount of cash that could have been received instead of stock. Taxable shareholders receiving such distributions will be required to include the amount of the distribution as ordinary income (or as long-term capital gain to the extent such distribution is properly reported as a capital gain distribution) to the extent of the Company’s current or accumulated earnings and profits for U.S. federal income tax purposes. As a result, a U.S. shareholder may be required to pay tax with respect to such distributions in excess of any cash received. If a U.S. shareholder sells the stock it receives in order to pay this tax, the sales proceeds may be less than the amount included in income with respect to the distribution, depending on the market price of the Company’s stock at the time of the sale. Furthermore, with respect to non-U.S. shareholders, the Company may be required to withhold U.S. tax with respect to such distributions, including in respect of all or a portion of such distribution that is payable in common stock. The current published guidance that allows certain stock distributions of a RIC to fulfill the RIC’s own distribution requirements applies only to publicly offered RICs. The Company believes that is currently does not qualify as a publicly offered RIC, although the Company may qualify as a publicly offered RIC for future years. Recent Accounting Pronouncements In June 2022, the Financial Accounting Standards Board issued Accounting Standards Update 2022-03, Fair Value Measurement (Topic 820) – Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions (ASU 2022-03). The accounting standard update clarifies the guidance in Topic 820 when measuring the fair value of an equity security subject to contractual restrictions that prohibit the sale of an equity security and introduces new disclosure requirements for equity securities subject to contractual sale restrictions and measured at fair value in accordance with Topic 820. The amendments are effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. The Company is currently evaluating the impact that adoption of this new accounting standard will have on its consolidated financial statements, but the impact of the adoption is not expected to be material.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Note 3. Related Party Transactions Administration Agreement On April 23, 2018, the Company entered into an Administration Agreement (the “Administration Agreement”) with the Administrator. Under the terms of the Administration Agreement, the Administrator will perform (or oversee, or arrange for, the performance of) the administrative services necessary for the operation of the Company, which includes office facilities, equipment, bookkeeping and recordkeeping services and such other services as the Administrator, subject to review by the Board, shall from time to time determine to be necessary or useful to perform its obligations under this Administration Agreement. The Company will reimburse the Administrator for services performed under the terms of the Administration Agreement. In addition, pursuant to the Administration Agreement, the Administrator may delegate its obligations under the Administration Agreement to affiliates or third-parties and the Company pays or reimburses the Administrator for certain expenses incurred by any such affiliates or third-parties for work done on its behalf. The Administration Agreement had an initial term of two years from its effective date and will remain in effect from year-to-year thereafter if approved annually by (i) the vote of the Board, or by the vote of a majority of the outstanding voting securities of the Company, and (ii) the vote of a majority of the Company’s Board who are not parties to the Administration Agreement or “interested persons” of the Company, of the Adviser or of any of their respective affiliates, as defined in the 1940 Act. The Administration Agreement was most recently approved on August 8, 2023. The Administration Agreement may be terminated at any time, without the payment of any penalty, upon 60 days’ written notice, by the vote of a majority of the outstanding voting shares of the Company or by the vote of the Board or by the Administrator. No person who is an officer, director or employee of the Adviser or its affiliates and who serves as a director of the Company receives any compensation from the Company for his or her services as a director. However, the Company reimburses the Administrator (or its affiliates) for an allocable portion of the compensation paid by the Administrator (or its affiliates) to the Company’s Chief Compliance Officer and Chief Financial Officer and their respective staffs (based on a percentage of time such individuals devote, on an estimated basis, to the business affairs of the Company). For the years ended December 31, 2023, 2022 and 2021, the Company incurred administrative fees of $ 0.6 million, $ 0.5 million, and $ 0.5 million, respectively. Investment Advisory Agreement On April 23, 2018, the Company entered into an Investment Advisory Agreement with the Adviser which was amended and restated on November 7, 2018 and further amended on July 9, 2019 (as amended, the “Investment Advisory Agreement”). On August 8, 2023, the Board unanimously approved the renewal of the Investment Advisory Agreement for a period of twelve months commencing on November 7, 2023. The amendments were each approved at the time by the Company’s sole stockholder. Under the terms of the Investment Advisory Agreement, the Adviser will be responsible for managing the Company’s business and activities, including sourcing investment opportunities, conducting research, performing due diligence on potential investments, structuring its investments, monitoring its portfolio companies and providing managerial assistance to portfolio companies. Under the terms of the Investment Advisory Agreement, the Company will pay the Adviser a base management fee and may also pay to it certain incentive fees. The base management fee is payable quarterly in arrears at an annual rate of 1.00% (1.50% if an exchange listing occurs) of the Company’s average gross assets, excluding cash and cash equivalents but including assets purchased with borrowed amounts, at the end of the two most recently completed calendar quarters . The management fee for any partial month or quarter will be appropriately prorated and adjusted for any share issuances or repurchases during the relevant month or quarter. For the years ended December 31, 2023, 2022 and 2021 the Company incurred management fees of $ 1.2 million, $ 1.0 million and $ 1.0 million respectively. The incentive fee consists of two parts, as follows: (i) The first component, the income incentive fee, payable at the end of each quarter in arrears, equals 100% of the pre-incentive fee net investment income in excess of a 1.50% quarterly preferred return but less than 1.76% (1.818% if an exchange listing occurs), the upper level breakpoint, and 15% (17.50% if an exchange listing occurs) of the amount of pre-incentive fee net investment income that exceeds 1.76% (1.818% if an exchange listing occurs) in any calendar quarter. For purposes of determining whether pre-incentive fee net investment income exceeds the hurdle rate, pre-incentive fee net investment income is expressed as a rate of return on the value of the Company’s net assets at the end of the immediately preceding calendar quarter. (ii) The second component, the capital gains incentive fee, payable at the end of each calendar year in arrears, equals 15.0 % of cumulative realized capital gains from inception through the end of such calendar year, computed net of all realized capital losses and unrealized capital depreciation on a cumulative basis, less the aggregate amount of any previously paid capital gains incentive fee for prior periods. The Company accrues, but does not pay, a capital gains incentive fee with respect to unrealized capital appreciation because a capital gains incentive fee would be owed to the Adviser if the Company were to sell the relevant investment and realize a capital gain. For the years ended December 31, 2023, 2022 and 2021, the Company incurred incentive fees of $ 1.1 million, $ 0.1 million and $ 0.7 million respectively. The Investment Advisory Agreement was initially in effect for a period of two years from its effective date and will remain in effect from year-to-year thereafter if approved annually by (i) the vote of the Board, or by the vote of a majority of the outstanding voting securities of the Company, and (ii) the vote of a majority of the Company’s Board who are not parties to the Investment Advisory Agreement or “interested persons” of the Company, of the Adviser or of any of their respective affiliates, as defined in the 1940 Act. The Investment Advisory Agreement may be terminated at any time, without the payment of any penalty, upon 60 days’ written notice and, in certain circumstances, upon 120 days’ written notice, by the vote of a majority of the outstanding voting shares of the Company or by the vote of the Board or by the Adviser. The Adviser may, from time to time, pay amounts owed by the Company to third-party providers of goods or services, including the Board, and the Company will subsequently reimburse the Adviser for such amounts paid on its behalf. Amounts payable to the Adviser are settled in the normal course of business without formal payment terms. Prior to the Company’s commencement of operations, the Adviser and its affiliates have incurred operating expenses on behalf of the Company in the amount of $ 1.2 million, including audit fees of $ 0.2 million, legal fees of $ 0.5 million, professional fees of $ 22.3 thousand, directors’ fees of $ 0.2 million, insurance of $ 0.2 million and other expenses of $ 62.4 thousand. The Company will have no responsibility for such costs until the Adviser submits such costs, or a portion thereof, for reimbursement. Amounts incurred by the Adviser subsequent to the Company’s commencement of operations were offset against amounts due from the Adviser in connection with the Expense Support Agreement, as described below. For the years ended December 31, 2023 and 2022, the Adviser paid operating expenses on behalf of the Company in the amount of $ 1.4 million and $ 1.5 million , respectively. Co-investment Exemptive Relief As a BDC, the Company is subject to certain regulatory restrictions in making its investments. For example, BDCs generally are not permitted to co-invest with certain affiliated entities in transactions originated by the BDC or its affiliates in the absence of an exemptive order from the SEC. However, BDCs are permitted to, and may, simultaneously co-invest in transactions where price is the only negotiated term. On April 10, 2023, superseding a prior exemptive order granted on October 23, 2018, the SEC issued an order granting an application for exemptive relief to us and certain of our affiliates to co-invest, subject to the satisfaction of certain conditions, in certain private placement transactions, with other funds managed by the Adviser or its affiliates, including business development companies, registered closed-end funds, private funds, certain proprietary accounts of the Investment Adviser or its affiliates, and any future funds that are advised by the Adviser or its affiliated investment advisers. Under the terms of the exemptive order, in order for the Company to participate in a co-investment transaction a “required majority” (as defined in Section 57(o) of the 1940 Act) of the Company’s independent directors must conclude that (i) the terms of the proposed transaction, including the consideration to be paid, are reasonable and fair to the Company and its stockholders and do not involve overreaching with respect of the Company or its stockholders on the part of any person concerned, and (ii) the proposed transaction is consistent with the interests of the Company’s stockholders and is consistent with the Company’s investment objectives and strategies and certain criteria established by the Board. Organization and Offering Costs Under the Investment Advisory Agreement and the Administrative Agreement, the Company, either directly or through reimbursements to the Adviser or its affiliates, is responsible for its organization and portfolio offering costs in an amount up to 1.50 % of total capital commitments. Prior to the Company’s commencement of operations, the Adviser funded the Company’s organization and offering costs in the amount of $ 1.4 million. The Company will have no responsibility for such costs until the Adviser submits such costs, or a portion thereof, for reimbursement, subject to a cap of 1.50 % of the Company’s total commitments and provided further that the Adviser or its affiliates may not be reimbursed for payment of excess organization and offering expenses that were incurred more than three years prior to the proposed reimbursement. For the years ended December 31, 2023 , 2022 and 2021, the Company accrued organization and offering costs of $ 30 thousand, $ 200 thousand and $ 12 thousand respectively . Amounts due to the Adviser for the expected recoveries of organization, offering and operating expenses incurred on behalf of the Company, and amounts due from the Adviser under the Expense Support Agreement for such amounts are reflected on a net basis in amounts due to/from affiliates on the consolidated statements of assets and liabilities. Expense Support Agreement On August 22, 2019, the Company entered into the Expense Support Agreement with the Adviser, the purpose of which was to ensure that no portion of distributions made to the Company’s stockholders was paid from the Company’s offering proceeds or borrowings (the “Distribution Objective”). The Expense Support Agreement expired pursuant to its terms on September 26, 2022, other than with respect to reimbursement payments that the Adviser may be entitled to from the Company pursuant to the Expense Support Agreement, for a period of three years following the last business day of the calendar quarter in which the Adviser reimbursed the Company. Commencing with the fourth quarter of 2019 and on a quarterly basis thereafter, the Adviser would reimburse the Company for operating expenses in an amount sufficient to meet the Distribution Objective. Any payment so required to be made by the Adviser is referred to herein as an “Expense Payment.” The Adviser’s obligation to make an Expense Payment becomes a liability of the Adviser, and the right to such Expense Payment becomes an asset of the Company, no later than the last business day of the applicable calendar quarter. The Expense Payment for any calendar quarter shall, as promptly as possible, be: (i) paid by the Adviser to the Company in any combination of cash or other immediately available funds, and/or (ii) offset against amounts due from the Company to the Adviser. Pursuant to the Expense Support Agreement, “Available Operating Funds” means the sum of (i) the Company’s net investment company taxable income (including net short-term capital gains reduced by net long-term capital losses), (ii) the Company’s net capital gains (including the excess of net long-term capital gains over net short-term capital losses), and (iii) distributions paid to or otherwise earned by the Company on account of investments in portfolio companies (to the extent such amounts listed in clause (iii) are not included under clauses (i) and (ii) above.) Following any calendar quarter in which Available Operating Funds exceed the cumulative distributions paid to the Company’s stockholders in such calendar quarter (the amount of such excess being hereinafter referred to as “Excess Operating funds”), the Company shall pay such Excess Operating Funds, or a portion thereof in accordance with the stipulation below, as applicable, to the Adviser until such time as all Expense Payments made by the Adviser to the Company within three years prior to the last business day of such calendar quarter have been reimbursed or waived. Any payments required to be made by the Company pursuant to the preceding sentence are referred to herein as a “Reimbursement Payment.” The amount of the Reimbursement Payment for any calendar quarter is equal to the lesser of (i) the Excess Operating Funds in such calendar quarter, and (ii) the aggregate amount of all Expense Payments made by the Adviser to the Company within three years prior to the last business day of such calendar quarter that have not been previously reimbursed by the Company to the Adviser. The Company’s obligation to make a Reimbursement Payment becomes a liability to the Company, and the right to such Reimbursement Payment becomes an asset of the Adviser, no later than the last business day of the applicable calendar quarter. The Reimbursement Payment for any calendar quarter shall, as promptly as possible, be paid by the Company to the Adviser in any combination of cash or other immediately available funds. Any Reimbursement Payments shall be deemed to have reimbursed the Adviser for Expense Payments in chronological order beginning with the oldest Expense Payment eligible for reimbursement. For the years ended December 31, 2023 and 2022, the gross Expense Reimbursement recovered by the Adviser from the Company was $ 1.4 million and $ 0.8 million, respectively. Quarter Ended Expense Payment (1) Reimbursement Unreimbursed (1) Eligible for Reimbursement (1) March 31, 2020 346 346 — March 31, 2023 June 30, 2020 752 752 — June 30, 2023 September 30, 2020 68 68 — September 30, 2023 March 31, 2021 217 217 — March 31, 2024 $ 1,383 $ 1,383 $ - (1) The actual date that the estimated Expense Payment is eligible for reimbursement will be determined when such Expense Payment is actually made by the Adviser. As of December 31, 2023, due to affiliate includes amounts payable for administrative fee, operating expenses reimbursable and reimbursement payment. Potential Conflicts of Interest The members of the senior management and investment teams of the Adviser serve or may serve as officers, directors or principals of entities that operate in the same or a related line of business as the Company does, or of investment vehicles managed by the same personnel. In serving in these multiple and other capacities, they may have obligations to other clients or investors in those entities, the fulfillment of which may or may not be in the Company’s best interests or in the best interest of the Company’s stockholders. The Company’s investment objectives may overlap with the investment objectives of such investment funds, accounts or other investment vehicles.

Investments and Fair Value Meas

Investments and Fair Value Measurements	12 Months Ended
	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Investments and Fair Value Measurements	Note 4. Investments and Fair Value Measurements The following table summarizes the composition of the Company’s investment portfolio at amortized cost and fair value as of December 31, 2023: December 31, 2023 Amortized Percentage of Fair Percentage of Cost Portfolio Value Portfolio Senior Secured Loan $ 129,511 95.7 % $ 126,050 94.3 % Structured Note 3,840 2.8 % 3,860 2.9 % Equity/Other 1,981 1.5 % 3,765 2.8 % Total $ 135,332 100.0 % $ 133,675 100.0 % The following table summarizes the composition of the Company’s investment portfolio at amortized cost and fair value as of December 31, 2022: December 31, 2022 Amortized Percentage of Fair Percentage of Cost Portfolio Value Portfolio Senior Secured Loan $ 101,025 95.2 % $ 94,047 93.7 % Structured Note 4,073 3.8 % 4,053 4.0 % Subordinated Structured Note 333 0.3 % 281 0.3 % Equity/Other 725 0.7 % 2,036 2.0 % Total $ 106,156 100.0 % $ 100,417 100.0 % Generally, under the 1940 Act, the Company would be presumed to “control” a portfolio company if it owned more than 25% of its voting securities or it had the power to exercise control over the management or policies of such portfolio company, and would be an “affiliated person” of a portfolio company if it owned 5% or more of its voting securities. As of December 31, 2023 and December 31, 2022, the Company did not control any of its portfolio companies, each as defined in the 1940 Act. The following tables summarize the industry and geographic composition of the Company’s investment portfolio based on amortized cost and fair value as of December 31, 2023: December 31, 2023 Amortized Percentage of Fair Percentage of Cost Portfolio Value Portfolio Information Technology $ 52,690 38.9 % $ 50,152 37.5 % Industrials 21,413 15.8 % 21,520 16.1 % Financials 15,629 11.5 % 17,148 12.8 % Healthcare 23,105 17.2 % 23,119 17.3 % Consumer Staples 7,003 5.2 % 6,720 5.0 % Consumer Discretionary 3,066 2.3 % 3,056 2.3 % Collateralized Loan Obligation - Debt Class 3,840 2.8 % 3,860 2.9 % Gaming 1,723 1.3 % 1,710 1.3 % Communication Services 4,917 3.6 % 4,932 3.7 % Transportation 1,946 1.4 % 1,458 1.1 % Total $ 135,332 100.0 % $ 133,675 100.0 % December 31, 2023 Amortized Percentage of Fair Percentage of Cost Portfolio Value Portfolio United States $ 128,830 95.2 % $ 127,153 95.1 % International 6,502 4.8 % 6,522 4.9 % Total $ 135,332 100.0 % $ 133,675 100.0 % The following tables summarize the industry and geographic composition of the Company’s investment portfolio based on amortized cost and fair value as of December 31, 2022: December 31, 2022 Amortized Percentage of Fair Percentage of Cost Portfolio Value Portfolio Information Technology $ 51,202 48.2 % $ 46,392 46.2 % Industrials 8,104 7.6 % 7,850 7.8 % Financials 11,080 10.4 % 12,165 12.1 % Healthcare 11,591 10.9 % 11,455 11.4 % Consumer Staples 6,986 6.7 % 6,972 6.9 % Consumer Discretionary 3,274 3.1 % 3,270 3.3 % Collateralized Loan Obligation - Debt Class 4,073 3.8 % 4,053 4.0 % Gaming 3,738 3.5 % 2,239 2.3 % Communication Services 3,813 3.6 % 3,787 3.8 % Transportation 1,962 1.8 % 1,953 1.9 % Collateralized Loan Obligation - Equity Class 333 0.4 % 281 0.3 % Total $ 106,156 100.0 % $ 100,417 100.0 % December 31, 2022 Amortized Percentage of Fair Percentage of Cost Portfolio Value Portfolio United States $ 101,750 95.8 % $ 96,083 95.7 % International 4,406 4.2 % 4,334 4.3 % Total $ 106,156 100.0 % $ 100,417 100.0 % The following table details investments in affiliates at December 31, 2023: ($ in thousands) Industry Affiliate Fair Value as of December 31, 2022 Transfers In/Out of Affiliates Purchases(sales) of or Advances/ Distributions Net Change in Unralized Gain/(Loss) Affilaite Fair Value as of December 31, 2023 Affiliate Investment Income Great Lakes II Funding LLC (1)(3)(4) Financial Services — $ 80 $ 8 $ 4 $ 92 $ 12 Green Park M-1 Series (1)(2)(3)(4) Industrials — 34 — — 34 — GreenPark Infrastructure A Series (1)(2)(3) Industrials — 100 — — 100 — Total Non-controlled affiliates $ — $ 214 $ 8 $ 4 $ 226 $ 12 (1) Fair value of this investment was determined using significant unobservable inputs (2) Qualified asset for purposes of section 55(a) of the Investment Company Act of 1940 (3) Under the 1940 Act, the Company is deemed to be an “Affiliated Person” of, as defined in the 1940 Act, this portfolio company as the Company owns at least 5% of the portfolio company’s outstanding voting securities or is under common control with such portfolio company. (4) Security has an unfunded commitment in addition to the amounts shown in the Consolidated Schedule of Investments. See Note 8 for additional information on the Company’s commitments and contingencies. The following table summarizes the fair value hierarchy of the Company’s investment portfolio as of December 31, 2023: Fair Value Measurements Level 1 Level 2 Level 3 Total Senior Secured Loan $ — $ 34,203 $ 91,847 $ 126,050 Structured Note — — 3,860 3,860 Equity/Other — — 3,765 3,765 Total $ — $ 34,203 $ 99,472 $ 133,675 Forward contracts — — — — Total $ — $ 34,203 $ 99,472 $ 133,675 The following table summarizes the fair value hierarchy of the Company’s investment portfolio as of December 31, 2022 : Fair Value Measurements Level 1 Level 2 Level 3 Total Senior Secured Loan $ — $ 17,805 $ 76,242 $ 94,047 Structured Note — — 4,053 4,053 Subordinated Structured Note — — 281 281 Equity/Other — — 2,036 2,036 Total $ — $ 17,805 $ 82,612 $ 100,417 Forward contracts — — 55 55 Total $ — $ 17,805 $ 82,667 $ 100,472 The following is a reconciliation of the Company’s investment portfolio for which level 3 inputs were used in determining fair value for the years ended December 31, 2023. Senior Secured Structured Subordinated Structured Note Equity/other Total Forward Balance as of January 1, 2023 $ 76,242 $ 4,053 $ 281 $ 2,036 $ 82,612 $ 55 Purchases of investments 43,583 — — 1,266 44,849 — Proceeds from principal repayments and sales of investments ( 24,122 ) ( 320 ) ( 350 ) ( 8 ) ( 24,800 ) — Payment in-kind interest income 599 — — — 599 — Net accretion of discounts 369 — — — 369 — Net change in unrealized appreciation (depreciation) on investments 395 40 52 471 958 ( 55 ) Net realized gain on investments 194 87 17 — 298 — Transfers into level 3 — — — — — — Transfers out of level 3 ( 5,413 ) — — — ( 5,413 ) — Balance as of December 31, 2023 $ 91,847 $ 3,860 $ — $ 3,765 $ 99,472 $ — Net change in unrealized appreciation (depreciation) on Level 3 investments still held $ 39 $ 129 $ — $ 50 $ 218 $ — The following is a reconciliation of the Company’s investment portfolio for which level 3 inputs were used in determining fair value for the years ended December 31, 2022 : Senior Secured Structured Subordinated Structured Note Equity/other Total Forward Balance as of January 1, 2022 $ 68,025 $ 4,181 $ 297 $ 150 $ 72,653 $ 53 Purchases of investments 34,311 — — 746 35,057 — Proceeds from principal repayments and sales of investments ( 20,920 ) — — ( 21 ) ( 20,941 ) — Payment in-kind interest income 205 — — — 205 — Net accretion of discounts (amortization of premiums) 234 — — — 234 — Net change in unrealized appreciation (depreciation) on investments ( 1,927 ) ( 128 ) ( 16 ) 1,161 ( 910 ) 2 Net realized loss on investments 37 — — — 37 — Transfers into level 3 3,905 — — — 3,905 — Transfers out of level 3 ( 7,628 ) — — — ( 7,628 ) — Balance as of December 31, 2022 $ 76,242 $ 4,053 $ 281 $ 2,036 $ 82,612 $ 55 Net change in unrealized appreciation (depreciation) on Level 3 investments still held $ ( 1,809 ) $ ( 128 ) $ ( 16 ) $ 1,162 $ ( 791 ) $ 2 The valuation techniques and significant unobservable inputs used in the valuation of level 3 investments as of December 31, 2023 were as follows: Quantitative Information About Level 3 Fair Value Measurements Asset Category Fair Value Valuation Unobservable Range Equity/Other $ 2,543 Enterprise Valuation Average EBITDA Multiple 1.6 x - 18 x ( 4.7 x) Equity/Other 226 Enterprise Valuation Net Asset Value 100 - 103 ( 101 ) Equity/Other 996 Recent Transaction Transaction Price 14.9 - 14.9 ( 14.9 ) Senior Secured Loan 81,864 Discounted Cash Flows Market Yield 6.1 % - 19.3 % ( 11.1 %) Senior Secured Loan 9,983 Recent Transaction Transaction Price 96.5 - 100 ( 98.2 ) Structured Note 3,860 Discounted Cash Flows Market Yield 11.9 %- 11.9 % ( 11.9 %) $ 99,472 The valuation techniques and significant unobservable inputs used in the valuation of level 3 investments as of December 31, 2022 were as follows: Quantitative Information About Level 3 Fair Value Measurements Asset Category Fair Value Valuation Unobservable Range Equity/Other $ 2,037 Enterprise Valuation Average EBITDA Multiple 10 x - 13 x ( 10.6 x) Senior Secured Loan 4,880 Recent Transaction Transaction Price 98 - 98 ( 98 ) Senior Secured Loan 71,361 Discounted Cash Flows Market Yield 6.2 % - 21.0 % ( 9.6 %) Structured Note 4,053 Discounted Cash Flows Market Yield 9.3 % - 12.2 % ( 12.0 %) Subordinated Structured Note 281 Discounted Cash Flows Market Yield 14.2 % - 15.2 % ( 14.7 %) $ 82,612 Forward Contracts $ 55 Option Pricing Model Expected Volatility 1.0 % - 2.0 % ( 1.5 %)

Borrowings

Borrowings	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Borrowings	Note 5. Borrowings In accordance with the 1940 Act, with certain limitations, the Company is allowed to borrow amounts such that its asset coverage, as defined in the 1940 Act, is at least 200 % (or 150 % if certain conditions are met) after such borrowing. Our Board and initial stockholder have approved our ability to utilize the increased leverage limit, which requires asset coverage of at least 150 %. As of December 31, 2023 and December 31, 2022, the Company’s asset coverage was 196.0 % and 184.1 %, respectively. On December 16, 2019, the Company, through BCPL Funding, entered into a debt financing facility with UBS AG, London Branch (“UBS”), pursuant to which up to $ 50.0 million will be made available to the Company (the “Facility”). On March 12, 2021, the Facility was amended (the “Second A&R Facility”), pursuant to which the amoun t made available to the Company was increased from $ 50.0 million to $ 75.0 million. Pursuant to the Facility, the Company sold certain loans in its portfolio to BCPL Funding (the “Initial Loans”), in consideration for certain Class A Notes (the “Class A Notes”) issued by BCPL Funding. The Initial Loans secure the obligations of BCPL Funding under the Class A Notes, issued pursuant to an indenture between BCPL Funding and U.S. Bank National Association, as trustee (the “Indenture”). On March 12, 2021, in connection with the Second A&R Facility, BCPL Funding entered into a Supplemental Indenture with the trustee (the “Second A&R Indenture”). The Second A&R Indenture expands the asset eligibility criteria and allows for the issuance of additional Class A Notes. Pursuant to the Second A&R Indenture, BCPL Funding issued additional Class A Notes which were purchased by the Company pursuant to a Subscription Agreement between the Company and BCPL Funding, dated as of March 12, 2021. The obligations of BCPL Funding under the additional Class A Notes are secured by the Portfolio Assets to be sold by the Company to BCPL Funding from time to time pursuant to the A&R Issuer Sale and Contribution Agreement. Principal on the Class A Notes will be due and payable at maturity on December 18, 2029. The Class A Notes do not provide for interest payments. The Indenture contains events of default customary for similar transactions, including: (a) the failure to make principal payments on the Class A Notes at their stated maturity or redemption date or to make payments with respect to expenses due under the Indenture within three business days of when due; (b) an event of default occurs under the Repurchase Agreement (defined below); and (c) BCPL Funding is required to register as an investment company under the 1940 Act. In connection with the Second A&R Facility, the Company has entered into a Fifth Amended and Restated Confirmation with UBS, dated as of August 25, 2023 (the Fifth A&R Confirmation”). The Fifth A&R Confirmation is in respect of a repurchase transaction with UBS, which supplements, forms part of, and is subject to the SIFMA/ICMA Global Master Repurchase Agreement (2011 version), dated as of December 12, 2019 and amended on August 14, 2020 (including any annexes thereto, the “GMRA,” and such GMRA, as supplemented and evidenced by the Fifth A&R Confirmation, the “Repurchase Agreement”). Pursuant to the Repurchase Agreement, UBS purchased the Class A Notes held by the Company for an aggregate purchase price not to exceed $ 110.0 million, in connection with the purchase by UBS of the increased funded outstanding principal amount of the Class A Notes held by the Company. Such increases in the purchase price under the Repurchase Agreement are conditioned upon the satisfaction of certain criteria with respect to the characteristics and total value of the Portfolio Assets held by BCPL Funding, and composition of the Portfolio Assets, in each case as set forth in the Second A&R Indenture, among others, which criteria are customary for similar transactions. The scheduled Repurchase Date under the Fifth A&R Confirmation is December 19, 2024 . The financing fee under the Facility is equal to Term SOFR plus a spread of 2.91161 % per year for the relevant period. Pursuant to the Repurchase Agreement, the Company has made certain representations and warranties and is required to comply with various covenants, reporting requirements and other requirements customary for similar transactions. In addition to customary events of default included in similar transactions, the Repurchase Agreement also contains the following events of default, among others: (a) the failure to pay the repurchase price upon the applicable payment dates; (b) the failure to make a voluntary contribution of cash to BCPL Funding if the settlement for the commitment the Company made for the voluntary contribution of Portfolio Assets under the Contribution Agreement does not occur, each within the periods as set forth in the Repurchase Agreement, caused by negative changes in the value or composition of the Portfolio Assets that result in a failure to satisfy the criteria with respect thereto set forth in the Indenture; (c) the occurrence of an act by the Company that constitutes fraud or criminal negligence in respect of its investment activity pursuant to the Collateral Management Agreement; and (d) any officer or employee of the Company who has direct responsibility for the management of the Portfolio Assets is indicted for any act constituting fraud or criminal negligence in respect of investment activity and such person fails to be removed from such person’s managing the Portfolio Assets within the period as set forth in the Collateral Management Agreement. The Company had provided a make-whole guarantee to the lender in the event that the pledged assets were insufficient to satisfy the repayment of the Facility. Debt obligations consisted of the following as of December 31, 2023: December 31, 2023 Total Total Less Amount per Credit Facility $ 110,000 $ 71,000 $ ( 663 ) $ 70,337 Total Debt $ 110,000 $ 71,000 $ ( 663 ) $ 70,337 Debt obligations consisted of the following as of December 31, 2022: December 31, 2022 Total Total Less Amount per Credit Facility $ 75,000 $ 58,000 $ ( 772 ) $ 57,228 Total Debt $ 75,000 $ 58,000 $ ( 772 ) $ 57,228 Due to the short-term nature of the Facility, the outstanding principal balance approximates fair value. The fair value of the Facility would be categorized as Level 3. For the years ended December 31, 2023, 2022 and 2021 the components of interest expense were as follows: For the Year Ended December 31, 2023 2022 2021 Interest expense $ 5,170 $ 2,503 $ 1,528 Amortization of deferred financing and debt issuance costs 109 110 104 Total Interest Expense $ 5,279 $ 2,613 $ 1,632 Average debt outstanding 64,337 55,148 53,669 Weighted average interest rate 8.2 % 4.7 % 2.8 %

Share Transactions

Share Transactions	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Share Transactions	Note 6. Share Transactions The Company is authorized to issue 1,000,000,000 shares of common stock at $ 0.001 par value per share. On April 10, 2018, the Company issued 4,000 shares of common stock to an affiliate of the Adviser for aggregate proceeds of $ 100,000 . The Company has entered into subscription agreements (the “Subscription Agreements”) with investors, including the Adviser and its affiliates, providing for the private placement of shares of the Company’s common stock. Under the terms of the Subscription Agreements, investors are required to fund drawdowns to purchase shares of the Company’s common stock up to the amount of their respective capital commitment on an as-needed basis each time the Company delivers a drawdown notice to its investors with a minimum of 10 business days prior notice. As of December 31, 2023 and December 31, 2022, the Company had received capital commitments totaling $ 68.5 million a nd $ 52.0 million, respectively. The following tables summarizes the total shares issued and proceeds received related to capital drawdowns delivered pursuant to the Subscription Agreements during the years ended December 31, 2023 and 2022: Capital Drawdown Notice Date Common Share Number of Aggregate March 3, 2023 March 8, 2023 519,187 $ 11,500 May 9, 2023 May 9, 2023 228,519 5,000 Total 747,706 $ 16,500 Capital Drawdown Notice Date Common Share Number of Aggregate March 16, 2022 March 30, 2022 91,677 $ 2,280 April 19, 2022 May 6, 2022 16,000 400 June 17, 2022 July 1, 2022 103,821 2,500 November 23, 2022 November 29, 2022 225,592 5,051 Total 437,090 $ 10,231 Distributions The Company may fund its cash distributions to stockholders from any sources of funds available to it, including offering proceeds, borrowings, net investment income from operations, capital gains proceeds from the sale of assets, non-capital gains proceeds from the sale of assets, distributions paid to the Company on account of preferred and common equity investments in portfolio companies and expense reimbursements from the Adviser, which are subject to recoupment. The Company has not established limits on the amount of funds it may use from available sources to make distributions. During certain periods, the Company’s distributions may exceed its taxable earnings. As a result, it is possible that a portion of the distributions the Company makes may represent a return of capital. A return of capital generally is a return of a stockholder’s investment rather than a return of earnings or gains derived from the Company’s investment activities. The following tables summarizes the distribution declarations for the years ended December 31, 2023 and 2022: Date Declared Record Date Payment Date Amount Distributions March 6, 2023 March 20, 2023 March 31, 2023 $ 0.31 $ 853 May 9, 2023 May 22, 2023 May 31, 2023 0.31 927 August 8, 2023 August 22, 2023 August 31, 2023 0.31 930 November 7, 2023 November 20, 2023 November 30, 2023 0.47 1,415 December 21, 2023 December 31, 2023 January 26, 2024 0.36 1,089 Total distributions declared $ 1.76 $ 5,214 Date Declared Record Date Payment Date Amount Distributions March 14, 2022 March 22, 2022 March 29, 2022 $ 0.31 $ 546 May 9, 2022 May 27, 2022 June 3, 2022 0.31 582 August 11, 2022 August 19, 2022 September 8, 2022 0.31 616 November 8, 2022 November 21, 2022 December 7, 2022 0.31 619 Total distributions declared $ 1.24 $ 2,363 With respect to distributions, we have adopted an “opt out” dividend reinvestment plan (“DRP”) for common stockholders. As a result, in the event of a declared distribution, each shareholder that has not “opted out” of the DRP will have their distributions automatically reinvested in additional shares of our common stock rather than receiving cash distributions. Shareholders who receive distributions in the form of shares of common stock will be subject to the same U.S. federal, state and local tax consequences as if they received cash distributions. The following tables reflect the common stock issued pursuant to the dividend reinvestment plan during the years ended December 31, 2023 and 2022: Date Declared Record Date Payment Date Shares March 6, 2023 March 20, 2023 March 31, 2023 9,874 May 9, 2023 May 22, 2023 May 31, 2023 10,086 August 8, 2023 August 22, 2023 August 31, 2023 10,096 November 7, 2023 November 20, 2023 November 30, 2023 15,080 Total shares issued 45,136 Date Declared Record Date Payment Date Shares December 27, 2021 December 31, 2021 January 27, 2022 19,884 March 14, 2022 March 22, 2022 March 29, 2022 6,190 May 9, 2022 May 27, 2022 June 3, 2022 7,685 August 11, 2022 August 19, 2022 September 8, 2022 8,765 November 8, 2022 November 21, 2022 December 7, 2022 9,127 Total shares issued 51,651

Income Tax

Income Tax	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Tax	Note 7. Income Tax Taxable income generally differs from increase in net assets from operations due to temporary and permanent differences in the recognition of income and expenses, and generally excludes net unrealized gains or losses, as unrealized gains and losses are generally not included in taxable income until they are realized. The Company may make adjustments to certain components of net assets to reflect permanent differences between financial and tax reporting, which may include differences in book and tax basis of certain assets and liabilities and nondeductible federal taxes or losses, among other items. These reclassifications have no effect on net assets or results of operations. For the years ended December 31, 2023, 2022 and 2021, there were no adjustments made. The following table reconciles increase in net assets resulting from operations for the years ended December 31, 2023, 2022 and 2021, to undistributed taxable income at December 31, 2023, 2022 and 2021: 2023 2022 2021 Increase in net assets resulting from operations $ 7,104 $ ( 4,144 ) $ 4,332 Adjustments: Net change in unrealized depreciation (appreciation) on investments ( 4,027 ) 6,471 ( 125 ) Other expenses not currently deductible 2,287 ( 7 ) ( 113 ) Other book-tax differences — ( 2 ) ( 6 ) Taxable Income $ 5,364 $ 2,318 $ 4,088 The tax character of distributions paid during the years ended December 31, 2023, 2022 and 2021 was as follows: For the Year Ended December 31, 2023 2022 2021 Ordinary Income $ 5,214 $ 2,317 $ 3,555 Capital Gain — 47 490 Total $ 5,214 $ 2,364 $ 4,045 As of December 31, 2023 and 2022, the components of distributable earnings on a tax basis were as follows: December 31, 2023 December 31, 2022 Undistributed net investment income $ 151 $ 2 Undistributed net realized gain — — Other expenses not currently deductible — 193 Net change in unrealized appreciation on investments and derivatives ( 1,657 ) ( 5,683 ) Total distributable earnings $ ( 1,506 ) $ ( 5,488 ) As of December 31, 2023, the tax cost of the Company’s investments (which approximates their amortized cost) and net unrealized appreciation for U.S. federal income tax purposes were $ 135,332 and $ ( 1,657 ) (gross unrealized appreciation of $ 2,652 ; gross unrealized depreciation of $( 4,309 ), respectively. As of December 31, 2022, the tax cost of the Company’s investments (which approximates their amortized cost) and net unrealized appreciation for U.S. federal income tax purposes were $ 106,156 and $( 5,683 ) (gross unrealized appreciation of $ 1,766 ; gross unrealized depreciation of $( 7,449 ), respectively.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Note 8. Earnings Per Share The following table sets forth the computation of basic and diluted earnings per common stock for the years ended December 31, 2023 , 2022 and 2021: For the Years Ended December 31, 2023 2022 2021 Increase in net assets resulting from operations per share - basic and diluted $ 7,104 $ ( 4,144 ) $ 4,332 Weighted average shares of common stock outstanding - basic and diluted 2,821,046 1,926,620 1,710,840 Net increase (decrease) in net assets resulting from operations per share - basic and diluted $ 2.52 $ ( 2.15 ) $ 2.53

Financial Highlights

Financial Highlights	12 Months Ended
	Dec. 31, 2023
Investment Company, Financial Highlights [Abstract]
Financial Highlights	Note 9. Financial Highlights The following is a schedule of financial highlights for the years ended December 31, 2023, 2022, 2021, 2020 and 2019: For the Year Ended December 31, 2023 For the Year Ended December 31, 2022 For the Year Ended December 31, 2021 For the Year Ended December 31, 2020 For the Period from October 2, 2019 Per share data: Net asset value, beginning of period $ 21.85 $ 25.10 $ 24.88 $ 25.11 $ 25.00 Results of operations: Net investment income (1) 1.83 1.32 1.24 1.03 0.01 Net realized and unrealized gain (6) 0.69 ( 3.33 ) 1.32 0.35 0.13 Net increase (decrease) in net assets resulting from operations (1) 2.52 ( 2.01 ) 2.56 1.38 0.14 Stockholder distributions: (2) Distributions from net investment income ( 1.84 ) ( 1.24 ) ( 2.34 ) ( 1.61 ) ( 0.01 ) Net decrease in net assets resulting from stockholder distributions ( 1.84 ) ( 1.24 ) ( 2.34 ) ( 1.61 ) ( 0.01 ) Net asset value, end of period (7) $ 22.53 $ 21.85 $ 25.10 $ 24.88 $ 25.11 Shares outstanding, end of period 3,024,976 2,232,134 1,743,393 1,652,799 846,633 Total return based on net asset value (3) 11.6 % - 4.5 % 7.4 % 4.2 % 0.5 % Ratio/Supplemental Data: Net assets, end of period $ 68,147 $ 48,772 $ 43,765 $ 41,119 $ 21,255 Ratio of net investment income to average net assets (5) 8.4 % 5.3 % 4.9 % 4.1 % 0.2 % Ratio of total expenses to average net assets, excluding Expense Support Agreements (4) 15.9 % 12.4 % 12.3 % 12.4 % 30.1 % Ratio of net expenses to average net assets, including Expense Support Agreements (5) 18.1 % 14.1 % 12.9 % 9.1 % 5.0 % Average debt outstanding $ 64,337 $ 55,148 $ 53,669 $ 26,357 $ 3,043 Portfolio turnover 25.0 % 31.7 % 131.5 % 83.9 % 9.8 % Total amount of senior securities outstanding $ 71,000 $ 58,000 $ 55,000 $ 50,000 $ 20,000 Asset coverage per unit (6) $ 1,960 $ 1,841 $ 1,796 $ 1,822 $ 2,063 Total committed capital, end of period $ 68,490 $ 51,990 $ 41,759 $ 40,439 $ 27,214 Ratio of total contributed capital to total committed capital, end of period 100.0 % 100.0 % 100.0 % 99.3 % 77.8 % (1) The per share data was derived by using the weighted average shares outstanding during the period. (2) The per share data for distributions reflects the actual amount of distributions paid during the period. (3) Total return based on net asset value is calculated as the change in net asset value per share during the period, assuming dividends and distributions, if any, are reinvested in accordance with the Company’s dividend reinvestment plan divided by the beginning net asset value per share. Total return is not annualized. (4) The computation of average net assets during the period is based on averaging net assets for the period reported. Ratio includes the net expense support agreement amounts provided to or reimbursed by the Company during the period (5) The computation of average net assets during the period is based on averaging net assets for the period reported. Ratio excludes the net expense support agreement amounts provided to or reimbursed by the Company during the period (6) Asset coverage per unit is the ratio of the carrying value of the Company’s consolidated total assets, less liabilities and indebtedness not represented by senior securities, to the aggregate amount of senior securities representing indebtedness. Asset coverage per unit is expressed in terms of dollar amounts per $1,000 of indebtedness and is calculated on a consolidated basis. (7) The amount shown at this caption is the balancing figure derived from the other figures in the schedule. The amount shown at this caption is derived from total change in net asset value during the period and differs from the amount calculated using average shares because of the timing of issuances of the Company’s shares in relation to changes in net asset value during the period. (8) Represents the impact of different share amounts used in calculating per share data as a result of calculating certain per share data based on weighted average shares outstanding during the year or period and certain per share data on shares outstanding as of a year or period end or transaction date.

Selected Quarterly Financial Da

Selected Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2023
Quarterly Financial Information Disclosure [Abstract]
Selected Quarterly Financial Data (Unaudited)	Note 10. Selected Quarterly Financial Data (unaudited) The following is the quarterly results of operations for the years ended December 31, 2023, 2022 and 2021: For the Quarter Ended December 31, September 30, June 30, March 31, Investment income $ 4,577 $ 4,234 $ 3,994 $ 3,482 Net expenses 2,604 2,821 3,063 2,628 Net investment income 1,973 1,413 931 854 Net realized and unrealized gain (loss) ( 245 ) 1,915 836 ( 573 ) Net increase in net assets resulting from operations 1,728 3,328 1,767 281 Net asset value per share as of the end of the quarter $ 22.53 $ 22.79 $ 21.99 $ 21.70 Net investment income per share $ 0.65 $ 0.47 $ 0.32 $ 0.36 Net increase in net assets resulting from operations per share $ 0.57 $ 1.11 $ 0.61 $ 0.12 For the Quarter Ended December 31, September 30, June 30, March 31, Investment income $ 3,108 $ 2,417 $ 1,890 $ 1,858 Net expenses 2,329 1,795 1,306 1,300 Net investment income 779 622 584 558 Net realized and unrealized gain (loss) ( 3,282 ) ( 1,264 ) ( 1,734 ) ( 407 ) Net increase in net assets resulting from operations ( 2,503 ) ( 642 ) ( 1,150 ) 151 Net asset value per share as of the end of the quarter $ 21.85 $ 23.35 $ 23.97 $ 24.89 Net investment income per share $ 0.37 $ 0.31 $ 0.31 $ 0.32 Net increase in net assets resulting from operations per share $ ( 1.20 ) $ ( 0.32 ) $ ( 0.61 ) $ 0.09 For the Quarter Ended December 31, September 30, June 30, March 31, Investment income $ 1,954 $ 2,077 $ 2,056 $ 1,663 Net expenses 1,417 1,539 1,520 1,148 Net investment income 537 538 536 515 Net realized and unrealized gain (loss) ( 205 ) 263 356 1,792 Net increase in net assets resulting from operations 332 801 892 2,307 Net asset value per share as of the end of the quarter $ 25.10 $ 26.32 $ 26.17 $ 25.95 Net investment income per share $ 0.31 $ 0.31 $ 0.31 $ 0.32 Net increase in net assets resulting from operations per share $ 0.19 $ 0.46 $ 0.52 $ 1.39

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 11. Commitments and Contingencies The Company enters into contracts that contain a variety of indemnification provisions. The Company’s maximum exposure under these arrangements is unknown; however, the Company has not had prior claims or losses pursuant to these contracts. The Adviser has reviewed the Company’s existing contracts and expects the risk of loss to the Company to be remote. From time to time, the Company may be a party to certain legal proceedings in the ordinary course of business, including proceedings relating to the enforcement of the Company’s rights under contracts with its portfolio companies. As of December 31, 2023, the Company is not aware of any pending or threatened litigation. The Adviser and its affiliates have incurred organization and offering costs and operating expenses on behalf of the Company in the amount of approximately $ 1.4 million and $ 1.2 million, respecti vely, from December 22, 2017 (inception) to October 2, 2019 (commencement of operations). The Company will have no responsibility for any organization and offering costs, nor operating expenses funded by the Adviser prior to the commencement of operations until the Adviser submits such costs, or a portion thereof, for reimbursement, subject to a cap of 1.50% of the Company’s total commitments for organization and offering costs and provided further that the Adviser or its affiliates may not be reimbursed for payment of excess organization and offering expenses that were incurred more than three years prior to the proposed reimbursement. For the period from October 2, 2019 (commencement of operations) through December 31, 2023 , the Company accrued organization costs of $ 0.3 million and offering costs of $ 0.5 million and recognized operating expenses funded by the Adviser prior to the Company’s commencement of operations of $ 1.2 million. See Note 3 for a discussion of the Company’s conditional reimbursement to the Adviser under the Expense Support Agreement. The Company may, from time to time, enter into commitments to fund investments. As of December 31, 2023 and December 31, 2022, the Company had the following outstanding commitments to fund investments in current portfolio companies: Portfolio Company Investment December 31, 2023 December 31, 2022 Accordion Partners LLC Senior Secured Loan $ 1,632 $ — AMCP PET HOLDINGS, INC. Senior Secured Loan 175 — Beta Plus Technologies R/C Senior Secured Loan 473 525 Critical Nurse Staffing LLC Senior Secured Loan - 258 Great Lakes II Funding LLC Equity/Other 11 — Green Park M-1 Series Equity/Other 366 — Morae Global Inc Senior Secured Loan 292 — PhyNet Dermatology LLC Senior Secured Loan 1,713 — Tactical Air Support, Inc Senior Secured Loan 571 — Premier Imaging DD T/L (LucidHealth) Senior Secured Loan — 64 Tank Holding Corp Senior Secured Loan 249 — VBC Spine Opco LLC Senior Secured Loan 1,080 — Total Unfunded Portfolio Company Commitments $ 6,562 $ 847 The Company maintains sufficient capacity to cover outstanding unfunded portfolio company commitments that the Company may be required to fund.

Senior Securities Asset Coverag

Senior Securities Asset Coverage	12 Months Ended
	Dec. 31, 2023
Line of Credit Facility [Abstract]
Senior Securities Asset Coverage	Note 12. Senior Securities Asset Coverage Information about the Company’s senior securities is shown in the table below for the years ended December 31, 2023, 2022 and 2021: Class and Year Total Amount (1) Asset (2) Involuntary (3) Average (4) Credit Facility December 31, 2023 $ 71,000 1,960 — N/A December 31, 2022 $ 58,000 1,841 — N/A December 31, 2021 $ 55,000 1,796 — N/A December 31, 2020 $ 50,000 1,822 — N/A December 31, 2019 $ 20,000 2,063 — N/A (1) Total amount of each class of senior securities outstanding at the end of the year or period presented. (2) Asset coverage per unit is the ratio of the carrying value of the Company’s consolidated total assets, less all liabilities excluding indebtedness represented by senior securities in this table, to the aggregate amount of senior securities representing indebtedness. Asset coverage per unit is expressed in terms of dollar amounts per $ 1,000 of indebtedness and is calculated on a consolidated basis. (3) The amount to which such class of senior security would be entitled upon our involuntary liquidation in preference to any security junior to it. The “—” in this column indicates information that the SEC expressly does not require to be disclosed for certain types of senior securities. (4) Not applicable because the senior securities are not registered for public trading.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Note 13. Subsequent Events On March 11, 2024 , the Board declared a quarterly distribution of $ 0.60 per share payable on April 2, 2024 to stockholders of record as of March 22, 2024. On March 11, 2024, James Piekarski was appointed by the Board as Chief Financial Officer, Secretary, and Treasurer of the Company, effective April 1, 2024. Mr. Piekarski currently serves as the Controller of the Company, and has over 15 years of experience in the asset management industry. The Company does not pay cash compensation or provide other benefits directly to Mr. Piekarski or to any of its other executive officers. Mr. Piekarski is an employee of BC Partners Advisors LP, the indirect sole owner of the Administrator, which is compensated for the services it provides to the Company pursuant to the terms of the Administration Agreement. Pursuant to the Administration Agreement, the Company makes payments equal to an amount that reimburses the Administrator for its costs and expenses in performing its obligations and providing personnel and facilities (including rent, office equipment and utilities) for the Company’s use under the Administration Agreement, including an allocable portion of the compensation paid to Mr. Piekarski. Mr. Piekarski: (i) was not appointed as the Company’s Chief Financial Officer, Secretary, and Treasurer pursuant to any arrangement or understanding with any other person; (ii) does not have a family relationship with any of the Company’s directors or other executive officers; and (iii) other than as disclosed herein, has not engaged, since the beginning of the Company’s last fiscal year, nor proposes to engage, in any transaction in which the Company was or is a participant. On March 11, 2024, the Board received and accepted the resignation of Jason T. Roos from his position as the Chief Financial Officer, Secretary, and Treasurer of the Company, effective March 31, 2024. Mr. Roos’ resignation is not related or due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices. Mr. Roos will serve in an advisory role at BC Partners Advisors LP for an extended period of time.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) pursuant to the requirements for reporting on Form 10-K and Regulation S-X, as appropriate. These consolidated financial statements reflect adjustments that in the opinion of the Company are necessary for the fair presentation of the financial position and results of operations as of and for the periods presented herein. The Company is an investment company under U.S. GAAP and therefore applies the accounting and reporting guidance applicable to investment companies. The Company has evaluated subsequent events through the date of issuance of the consolidated financial statements.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements. Actual results could differ from those estimates, and such differences could be material.
Consolidation	Consolidation In accordance with U.S. GAAP guidance on consolidation, the Company will generally not consolidate its investment in a portfolio company other than an investment company subsidiary or a controlled operating company whose business consists of providing services to the Company. Accordingly, the Company consolidated the accounts of the Company’s wholly-owned subsidiaries in its consolidated financial statements. All significant intercompany balances and transactions have been eliminated in consolidation.
Segments	Segments In accordance with U.S. GAAP guidance on segment reporting, the Company has determined that its operations comprise a single reporting segment.
Cash and Restricted Cash	Cash and Restricted Cash Cash consists of deposits held at a custodian bank. Restricted cash consists of deposits pledged as collateral. Cash and restricted cash are held at major financial institutions and, at times, may exceed the insured limits under applicable law.
Investments	Investments Investment transactions are recorded on the trade date. Realized gains or losses on investments are calculated using the specific identification method as the difference between the net proceeds received (excluding prepayment fees, if any) and the amortized cost basis of the investment without regard to unrealized appreciation or depreciation previously recognized, and include investments charged off during the period, net of recoveries. Net change in unrealized appreciation or depreciation reflects the change in portfolio investment values during the reporting period, including any reversal of previously recorded unrealized appreciation or depreciation when gains or losses are recognized. Investments for which market quotations are available are typically valued at those market quotations. To validate market quotations, the Company will utilize a number of factors to determine if the quotations are representative of fair value, including the source and number of the quotations. Debt that is not publicly traded but for which there are external pricing sources available as of the valuation date is valued using independent broker-dealer, market maker quotations or independent pricing services. The valuation committee, comprised of members of the Adviser, (the “Valuation Committee”) subjects these quotes to various criteria including, but not limited to, the number and quality of quotes, the deviation among the quotes and information derived from analyzing the Company's own transactions in such investments throughout the reporting period. Generally, such investments are categorized in level 2 of the fair value hierarchy, unless the Valuation Committee determines that the quality, quantity or deviation among quotes warrants significant adjustment to the inputs utilized. The Board has designated the Adviser as its "valuation designee" pursuant to Rule 2a-5 under the 1940 Act, and in that role the Adviser is responsible for performing fair value determinations relating to all of the Company's investments, including periodically assessing and managing any material valuation risks and establishing and applying fair value methodologies, in accordance with valuation policies and procedures that have been approved by the Board. The Board remains ultimately responsible for fair value determinations under the 1940 Act and satisfies its responsibility through oversight of the valuation designee in accordance with Rule 2a-5. Investments that are not publicly traded or whose market prices are not readily available, as is expected to be the case for substantially all of the Company’s investments, are valued at fair value as determined in good faith by the Adviser, based on, among other things, input of independent third-party valuation firm(s). The Adviser undertakes a multi-step valuation process, which includes, among other procedures, the following: • The Company’s quarterly valuation process begins with each portfolio company or investment being initially valued using certain inputs, among others, provided by the investment professionals responsible for the portfolio investment in conjunction with the Company’s portfolio management team. The Company utilizes an independent valuation firm to provide valuation on each material illiquid security at least once every trailing 12-month period; • Preliminary valuations are reviewed and discussed with management of the Adviser and investment professionals; and • The Adviser will review the valuations and determine the fair value of each investment. Valuations that are not based on readily available market quotations will be valued in good faith based on, among other things, the input of, where applicable, third parties. As part of the valuation process, the Adviser may consider other information and may use valuation methods including but not limited to (i) market quotes for similar investments, (ii) recent trading activity, (iii) discounting forecasted cash flows of the investment, (iv) models that consider the implied yields from comparable debt, (v) third party appraisal, (vi) sale negotiations and purchase offers received from independent parties and (vii) estimated value of underlying assets to be received in liquidation or restructuring. Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the fair value of our investments may fluctuate from period to period. Additionally, the fair value of such investments may differ significantly from the values that would have been used had a ready market existed for such investments and may differ materially from the values that may ultimately be realized. Further, such investments are generally less liquid than publicly traded securities and may be subject to contractual and other restrictions on resale. If the Company were required to liquidate a portfolio investment in a forced or liquidation sale, it could realize amounts that are different from the amounts presented and such differences could be material. In addition, changes in the market environment and other events that may occur over the life of the investments may cause the gains or losses ultimately realized on these investments to be different than the unrealized gains or losses reflected herein. Under existing accounting guidance, fair value is defined as the price that the Company would receive upon selling an investment or pay to transfer a liability in an orderly transaction to a market participant in the principal or most advantageous market for the investment. This accounting guidance emphasizes valuation techniques that maximize the use of observable market inputs and minimize the use of unobservable inputs. Inputs refer broadly to the assumptions that market participants would use in pricing an asset or liability, including assumptions about risk. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing an asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the assumptions market participants would use in pricing an asset or liability developed based on the best information available in the circumstances. The Company classifies the inputs used to measure these fair values into the following hierarchy as defined by current accounting guidance: Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities that are accessible to the Company. Level 2: Quoted prices for similar assets or liabilities in active markets, or quoted prices for identical or similar assets or liabilities in markets that are not active, or other observable inputs other than quoted prices. Level 3: Significant inputs that are unobservable for an asset or liability. A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Investments for which no external pricing sources are available as of the valuation date are included in level 3 of the fair value hierarchy.
Forward Contracts	Forward Contracts The Company may enter into forward purchase contracts primarily to manage credit risk. When entering into a forward purchase contract, the Company agrees to deliver a fixed quantity of securities for an agreed-upon price on an agreed future date. Forward contracts entered into by the Company are not designated as hedging instruments, and as a result, the Company presents changes in fair value through net change in unrealized appreciation (depreciation) on derivative instruments in the consolidated statements of operations. Realized and unrealized gains and losses of derivative instruments are included in the consolidated statements of operations. These instruments involve market risk, credit risk, or both kinds of risks. Risks arise from the possible inability of counterparties to meet the terms of their contracts and movements in fair value. The Company attempts to limit counterparty risk by only dealing with well-known counterparties.
Revenue Recognition	Revenue Recognition Interest income is recorded on an accrual basis and includes the accretion of discounts and amortization of premiums. Discounts from and premiums to par value on debt investments purchased are accreted/amortized into interest income over the life of the respective security using the effective interest method. The amortized cost of debt investments represents the original cost, including origination fees and upfront fees received that are deemed to be an adjustment to yield, adjusted for the accretion of discounts and amortization of premiums, if any. Loans are generally placed on non-accrual status when there is reasonable doubt that principal or interest will be collected in full. The Company considers many factors relevant to an investment when placing it on or removing it from non-accrual status including, but not limited to, the delinquency status of the investment, economic and business conditions, the overall financial condition of the underlying investment, the value of the underlying collateral, bankruptcy status, if any, and any other facts or circumstances relevant to the investment. Accrued interest is generally reversed when a loan is placed on non-accrual status. Payments received on non-accrual loans may be recognized as income or applied to principal depending upon management’s judgment regarding collectability of the outstanding principal and interest. Non-accrual loans may be restored to accrual status when past due principal and interest is paid current and are likely to remain current based on management’s judgment. Dividend income on preferred equity securities is recorded on the accrual basis to the extent that such amounts are payable by the portfolio company and are expected to be collected. Dividend income on common equity securities is recorded on the record date for private portfolio companies or on the ex-dividend date for publicly-traded portfolio companies. Loan origination fees, original issue discount and market discount are capitalized, and the Company amortizes such amounts as interest income over the respective term of the loan or security. Upon the prepayment of a loan or security, any unamortized loan origination fees and original issue discount are recorded as interest income. The Company records prepayment premiums on loans and securities as fee income when it receives such amounts.
Payment-in-Kind Interest	Payment-in-Kind Interest Payment-in-kind (“PIK”) interest, computed at the contractual rate specified in each loan agreement, is added to the principal balance of the loan and recorded as interest income and generally becomes due at maturity. To maintain the Company’s tax treatment as a RIC, this non-cash source of income may be required to be paid out to stockholders in the form of distributions, even though the Company has not yet collected the cash.
Deferred Financing Costs	Deferred Financing Costs Origination and other expenses related to the Company’s borrowings are recorded as deferred financing costs and amortized as part of interest expense using the straight-line method over the stated life of the debt instrument. Unamortized deferred financing costs are presented as a direct deduction to the respective debt instrument.
Organization and Offering Costs	Organization and Offering Costs Organization costs include, among other things, the cost of incorporating, including the cost of legal services and other fees pertaining to the Company’s organization. Costs associated with the organization of the Company are expensed as incurred. Offering costs include, among other things, marketing expenses and printing, legal fees, due diligence fees, and other costs in connection with the Company’s offering of shares of its common stock, including the preparation of the Company’s registration statement, and salaries and direct expenses of the Adviser’s personnel, employees of its affiliates and others while engaged in such activities. Offering costs are capitalized as deferred offering expenses and are amortized over twelve months from incurrence.
Earnings per Share	Earnings per Share Basic earnings per share is calculated by dividing net income or loss attributable to common stockholders by the weighted average number of common stock outstanding during the period.
Income Taxes	Income Taxes The Company has elected to be treated for U.S. federal income tax purposes, and intends to qualify annually, as a RIC under Subchapter M of the Code. So long as the Company maintains its status as a RIC, it will generally not pay corporate-level U.S. federal income or excise taxes on any ordinary income or capital gains that it distributes at least annually to its stockholders as distributions. Any tax liability related to income earned and distributed by the Company represents obligations of the Company’s stockholders and will not be reflected in the consolidated financial statements of the Company. To qualify for and maintain status as a RIC, the Company must, among other things, meet certain source-of-income and asset diversification requirements. In addition, to qualify for RIC tax treatment, the Company must distribute to its stockholders, for each taxable year, at least 90 % of its “investment company taxable income” (which is generally its ordinary income plus the excess, if any, of its realized net short-term capital gains over its realized net long-term capital losses) and net tax-exempt income for that year. In order for the Company not to be subject to U.S. federal excise taxes, it must distribute annually an amount at least equal to the sum of (i) 98 % of its ordinary income (taking into account certain deferrals and elections) for the calendar year, (ii) 98.2 % of its capital gains in excess of capital losses for the one-year period ending on October 31 of the calendar year, and (iii) any ordinary income and net capital gains for preceding years that were not distributed during such years and on which the Company paid no U.S. federal income tax. The Company, at its discretion, may carry forward taxable income in excess of calendar year distributions and pay a 4 % nondeductible U.S. federal excise tax on this income. The Company evaluates tax positions taken or expected to be taken in the course of preparing its consolidated financial statements to determine whether the tax positions are “more-likely-than-not” to be sustained by the applicable tax authority. Tax positions not deemed to meet the “more-likely-than-not” threshold are reserved and recorded as a tax benefit or expense in the current year. All penalties and interest associated with income taxes are included in income tax expense. Conclusions regarding tax positions are subject to review and may be adjusted at a later date based on factors including, but not limited to, on-going analyses of tax laws, regulations and interpretations thereof. The Company has analyzed the tax positions taken on federal and state income tax returns for all open tax years and has concluded that no provision for income tax for uncertain tax positions is required in the Company’s consolidated financial statements. The Company’s major tax jurisdictions are U.S. federal, New York State, and foreign jurisdictions where the Company makes significant investments. The Company’s federal and state income and federal excise tax returns for tax years for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state departments of revenue.
Distributions to Common Stockholders	Distributions to Common Stockholders Distributions to the Company’s stockholders are recorded on the record date. The amount to be paid out as a distribution is determined by the Board and is generally based upon earnings estimated by the Adviser. Net realized capital gains, if any, would generally be distributed at least annually, although the Company may decide to retain such capital gains. The Company has adopted an “opt out” dividend reinvestment plan (“DRP”) for its stockholders. As a result, if the Company makes a cash distribution, its stockholders will have their cash distributions reinvested in additional shares of the Company’s common stock, including fractional shares as necessary, unless they specifically “opt out” of the DRP to receive the distribution in cash. Under the DRP, cash distributions to participating stockholders will be reinvested in additional shares of the Company’s common stock at a purchase price equal to the net asset value per share as of the last day of the calendar quarter immediately preceding the date such distribution was declared. The Company may distribute taxable distributions that are payable in cash or part in its common stock. In accordance with certain applicable U.S. Treasury regulations and published guidance issued by the Internal Revenue Service, a publicly offered RIC may treat a distribution of its own stock as fulfilling the RIC distribution requirements if each shareholder may elect to receive his or her entire distribution in either cash or stock of the RIC subject to a limitation that the aggregate amount of cash available to be distributed to all shareholders must be at least 20 % of the aggregate declared distribution. If too many shareholders elect to receive cash, the cash available for distribution must be allocated among the stockholders electing to receive cash (with the balance of the distribution paid in stock). In no event will any shareholder electing to receive cash receive less than 20.0 % of its entire distribution in cash. If these and certain other requirements are met for U.S. federal income tax purposes, the amount of the distribution paid in stock will be equal to the amount of cash that could have been received instead of stock. Taxable shareholders receiving such distributions will be required to include the amount of the distribution as ordinary income (or as long-term capital gain to the extent such distribution is properly reported as a capital gain distribution) to the extent of the Company’s current or accumulated earnings and profits for U.S. federal income tax purposes. As a result, a U.S. shareholder may be required to pay tax with respect to such distributions in excess of any cash received. If a U.S. shareholder sells the stock it receives in order to pay this tax, the sales proceeds may be less than the amount included in income with respect to the distribution, depending on the market price of the Company’s stock at the time of the sale. Furthermore, with respect to non-U.S. shareholders, the Company may be required to withhold U.S. tax with respect to such distributions, including in respect of all or a portion of such distribution that is payable in common stock. The current published guidance that allows certain stock distributions of a RIC to fulfill the RIC’s own distribution requirements applies only to publicly offered RICs. The Company believes that is currently does not qualify as a publicly offered RIC, although the Company may qualify as a publicly offered RIC for future years.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In June 2022, the Financial Accounting Standards Board issued Accounting Standards Update 2022-03, Fair Value Measurement (Topic 820) – Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions (ASU 2022-03). The accounting standard update clarifies the guidance in Topic 820 when measuring the fair value of an equity security subject to contractual restrictions that prohibit the sale of an equity security and introduces new disclosure requirements for equity securities subject to contractual sale restrictions and measured at fair value in accordance with Topic 820. The amendments are effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. The Company is currently evaluating the impact that adoption of this new accounting standard will have on its consolidated financial statements, but the impact of the adoption is not expected to be material.

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	Quarter Ended Expense Payment (1) Reimbursement Unreimbursed (1) Eligible for Reimbursement (1) March 31, 2020 346 346 — March 31, 2023 June 30, 2020 752 752 — June 30, 2023 September 30, 2020 68 68 — September 30, 2023 March 31, 2021 217 217 — March 31, 2024 $ 1,383 $ 1,383 $ - (1) The actual date that the estimated Expense Payment is eligible for reimbursement will be determined when such Expense Payment is actually made by the Adviser.

Investments and Fair Value Me_2

Investments and Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Schedule of Investment Portfolio at Amortized Cost and Fair Value	The following table summarizes the composition of the Company’s investment portfolio at amortized cost and fair value as of December 31, 2023: December 31, 2023 Amortized Percentage of Fair Percentage of Cost Portfolio Value Portfolio Senior Secured Loan $ 129,511 95.7 % $ 126,050 94.3 % Structured Note 3,840 2.8 % 3,860 2.9 % Equity/Other 1,981 1.5 % 3,765 2.8 % Total $ 135,332 100.0 % $ 133,675 100.0 % The following table summarizes the composition of the Company’s investment portfolio at amortized cost and fair value as of December 31, 2022: December 31, 2022 Amortized Percentage of Fair Percentage of Cost Portfolio Value Portfolio Senior Secured Loan $ 101,025 95.2 % $ 94,047 93.7 % Structured Note 4,073 3.8 % 4,053 4.0 % Subordinated Structured Note 333 0.3 % 281 0.3 % Equity/Other 725 0.7 % 2,036 2.0 % Total $ 106,156 100.0 % $ 100,417 100.0 %
Schedule of the Industry and Geographic Composition of the Company's Investment Portfolio	The following tables summarize the industry and geographic composition of the Company’s investment portfolio based on amortized cost and fair value as of December 31, 2023: December 31, 2023 Amortized Percentage of Fair Percentage of Cost Portfolio Value Portfolio Information Technology $ 52,690 38.9 % $ 50,152 37.5 % Industrials 21,413 15.8 % 21,520 16.1 % Financials 15,629 11.5 % 17,148 12.8 % Healthcare 23,105 17.2 % 23,119 17.3 % Consumer Staples 7,003 5.2 % 6,720 5.0 % Consumer Discretionary 3,066 2.3 % 3,056 2.3 % Collateralized Loan Obligation - Debt Class 3,840 2.8 % 3,860 2.9 % Gaming 1,723 1.3 % 1,710 1.3 % Communication Services 4,917 3.6 % 4,932 3.7 % Transportation 1,946 1.4 % 1,458 1.1 % Total $ 135,332 100.0 % $ 133,675 100.0 % December 31, 2023 Amortized Percentage of Fair Percentage of Cost Portfolio Value Portfolio United States $ 128,830 95.2 % $ 127,153 95.1 % International 6,502 4.8 % 6,522 4.9 % Total $ 135,332 100.0 % $ 133,675 100.0 % The following tables summarize the industry and geographic composition of the Company’s investment portfolio based on amortized cost and fair value as of December 31, 2022: December 31, 2022 Amortized Percentage of Fair Percentage of Cost Portfolio Value Portfolio Information Technology $ 51,202 48.2 % $ 46,392 46.2 % Industrials 8,104 7.6 % 7,850 7.8 % Financials 11,080 10.4 % 12,165 12.1 % Healthcare 11,591 10.9 % 11,455 11.4 % Consumer Staples 6,986 6.7 % 6,972 6.9 % Consumer Discretionary 3,274 3.1 % 3,270 3.3 % Collateralized Loan Obligation - Debt Class 4,073 3.8 % 4,053 4.0 % Gaming 3,738 3.5 % 2,239 2.3 % Communication Services 3,813 3.6 % 3,787 3.8 % Transportation 1,962 1.8 % 1,953 1.9 % Collateralized Loan Obligation - Equity Class 333 0.4 % 281 0.3 % Total $ 106,156 100.0 % $ 100,417 100.0 % December 31, 2022 Amortized Percentage of Fair Percentage of Cost Portfolio Value Portfolio United States $ 101,750 95.8 % $ 96,083 95.7 % International 4,406 4.2 % 4,334 4.3 % Total $ 106,156 100.0 % $ 100,417 100.0 %
Schedule of Investments in Affiliates	The following table details investments in affiliates at December 31, 2023: ($ in thousands) Industry Affiliate Fair Value as of December 31, 2022 Transfers In/Out of Affiliates Purchases(sales) of or Advances/ Distributions Net Change in Unralized Gain/(Loss) Affilaite Fair Value as of December 31, 2023 Affiliate Investment Income Great Lakes II Funding LLC (1)(3)(4) Financial Services — $ 80 $ 8 $ 4 $ 92 $ 12 Green Park M-1 Series (1)(2)(3)(4) Industrials — 34 — — 34 — GreenPark Infrastructure A Series (1)(2)(3) Industrials — 100 — — 100 — Total Non-controlled affiliates $ — $ 214 $ 8 $ 4 $ 226 $ 12 (1) Fair value of this investment was determined using significant unobservable inputs (2) Qualified asset for purposes of section 55(a) of the Investment Company Act of 1940 (3) Under the 1940 Act, the Company is deemed to be an “Affiliated Person” of, as defined in the 1940 Act, this portfolio company as the Company owns at least 5% of the portfolio company’s outstanding voting securities or is under common control with such portfolio company. (4) Security has an unfunded commitment in addition to the amounts shown in the Consolidated Schedule of Investments. See Note 8 for additional information on the Company’s commitments and contingencies.
Schedule of Fair Value of Investments by Fair Value Hierarchy Levels	The following table summarizes the fair value hierarchy of the Company’s investment portfolio as of December 31, 2023: Fair Value Measurements Level 1 Level 2 Level 3 Total Senior Secured Loan $ — $ 34,203 $ 91,847 $ 126,050 Structured Note — — 3,860 3,860 Equity/Other — — 3,765 3,765 Total $ — $ 34,203 $ 99,472 $ 133,675 Forward contracts — — — — Total $ — $ 34,203 $ 99,472 $ 133,675 Fair Value Measurements Level 1 Level 2 Level 3 Total Senior Secured Loan $ — $ 17,805 $ 76,242 $ 94,047 Structured Note — — 4,053 4,053 Subordinated Structured Note — — 281 281 Equity/Other — — 2,036 2,036 Total $ — $ 17,805 $ 82,612 $ 100,417 Forward contracts — — 55 55 Total $ — $ 17,805 $ 82,667 $ 100,472
Schedule of the Company's Investment Portfolio for which Level 3 Inputs	The following is a reconciliation of the Company’s investment portfolio for which level 3 inputs were used in determining fair value for the years ended December 31, 2023. Senior Secured Structured Subordinated Structured Note Equity/other Total Forward Balance as of January 1, 2023 $ 76,242 $ 4,053 $ 281 $ 2,036 $ 82,612 $ 55 Purchases of investments 43,583 — — 1,266 44,849 — Proceeds from principal repayments and sales of investments ( 24,122 ) ( 320 ) ( 350 ) ( 8 ) ( 24,800 ) — Payment in-kind interest income 599 — — — 599 — Net accretion of discounts 369 — — — 369 — Net change in unrealized appreciation (depreciation) on investments 395 40 52 471 958 ( 55 ) Net realized gain on investments 194 87 17 — 298 — Transfers into level 3 — — — — — — Transfers out of level 3 ( 5,413 ) — — — ( 5,413 ) — Balance as of December 31, 2023 $ 91,847 $ 3,860 $ — $ 3,765 $ 99,472 $ — Net change in unrealized appreciation (depreciation) on Level 3 investments still held $ 39 $ 129 $ — $ 50 $ 218 $ — Senior Secured Structured Subordinated Structured Note Equity/other Total Forward Balance as of January 1, 2022 $ 68,025 $ 4,181 $ 297 $ 150 $ 72,653 $ 53 Purchases of investments 34,311 — — 746 35,057 — Proceeds from principal repayments and sales of investments ( 20,920 ) — — ( 21 ) ( 20,941 ) — Payment in-kind interest income 205 — — — 205 — Net accretion of discounts (amortization of premiums) 234 — — — 234 — Net change in unrealized appreciation (depreciation) on investments ( 1,927 ) ( 128 ) ( 16 ) 1,161 ( 910 ) 2 Net realized loss on investments 37 — — — 37 — Transfers into level 3 3,905 — — — 3,905 — Transfers out of level 3 ( 7,628 ) — — — ( 7,628 ) — Balance as of December 31, 2022 $ 76,242 $ 4,053 $ 281 $ 2,036 $ 82,612 $ 55 Net change in unrealized appreciation (depreciation) on Level 3 investments still held $ ( 1,809 ) $ ( 128 ) $ ( 16 ) $ 1,162 $ ( 791 ) $ 2
Schedule of Valuation Techniques and Significant Unobservable Inputs	The valuation techniques and significant unobservable inputs used in the valuation of level 3 investments as of December 31, 2023 were as follows: Quantitative Information About Level 3 Fair Value Measurements Asset Category Fair Value Valuation Unobservable Range Equity/Other $ 2,543 Enterprise Valuation Average EBITDA Multiple 1.6 x - 18 x ( 4.7 x) Equity/Other 226 Enterprise Valuation Net Asset Value 100 - 103 ( 101 ) Equity/Other 996 Recent Transaction Transaction Price 14.9 - 14.9 ( 14.9 ) Senior Secured Loan 81,864 Discounted Cash Flows Market Yield 6.1 % - 19.3 % ( 11.1 %) Senior Secured Loan 9,983 Recent Transaction Transaction Price 96.5 - 100 ( 98.2 ) Structured Note 3,860 Discounted Cash Flows Market Yield 11.9 %- 11.9 % ( 11.9 %) $ 99,472 Quantitative Information About Level 3 Fair Value Measurements Asset Category Fair Value Valuation Unobservable Range Equity/Other $ 2,037 Enterprise Valuation Average EBITDA Multiple 10 x - 13 x ( 10.6 x) Senior Secured Loan 4,880 Recent Transaction Transaction Price 98 - 98 ( 98 ) Senior Secured Loan 71,361 Discounted Cash Flows Market Yield 6.2 % - 21.0 % ( 9.6 %) Structured Note 4,053 Discounted Cash Flows Market Yield 9.3 % - 12.2 % ( 12.0 %) Subordinated Structured Note 281 Discounted Cash Flows Market Yield 14.2 % - 15.2 % ( 14.7 %) $ 82,612 Forward Contracts $ 55 Option Pricing Model Expected Volatility 1.0 % - 2.0 % ( 1.5 %)

Borrowings (Tables)

Borrowings (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Summery Of Debt Obligations	Debt obligations consisted of the following as of December 31, 2023: December 31, 2023 Total Total Less Amount per Credit Facility $ 110,000 $ 71,000 $ ( 663 ) $ 70,337 Total Debt $ 110,000 $ 71,000 $ ( 663 ) $ 70,337 Debt obligations consisted of the following as of December 31, 2022: December 31, 2022 Total Total Less Amount per Credit Facility $ 75,000 $ 58,000 $ ( 772 ) $ 57,228 Total Debt $ 75,000 $ 58,000 $ ( 772 ) $ 57,228
Summery Of Components Of Interest Expense	For the years ended December 31, 2023, 2022 and 2021 the components of interest expense were as follows: For the Year Ended December 31, 2023 2022 2021 Interest expense $ 5,170 $ 2,503 $ 1,528 Amortization of deferred financing and debt issuance costs 109 110 104 Total Interest Expense $ 5,279 $ 2,613 $ 1,632 Average debt outstanding 64,337 55,148 53,669 Weighted average interest rate 8.2 % 4.7 % 2.8 %

Share Transactions (Tables)

Share Transactions (Tables)	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Summary of total shares issued and proceeds receivedSummart of related to capital drawdowns delivered pursuant to the Subscription Agreements	The following tables summarizes the total shares issued and proceeds received related to capital drawdowns delivered pursuant to the Subscription Agreements during the years ended December 31, 2023 and 2022: Capital Drawdown Notice Date Common Share Number of Aggregate March 3, 2023 March 8, 2023 519,187 $ 11,500 May 9, 2023 May 9, 2023 228,519 5,000 Total 747,706 $ 16,500 Capital Drawdown Notice Date Common Share Number of Aggregate March 16, 2022 March 30, 2022 91,677 $ 2,280 April 19, 2022 May 6, 2022 16,000 400 June 17, 2022 July 1, 2022 103,821 2,500 November 23, 2022 November 29, 2022 225,592 5,051 Total 437,090 $ 10,231 Distributions
Summary of distribution declared	The following tables summarizes the distribution declarations for the years ended December 31, 2023 and 2022: Date Declared Record Date Payment Date Amount Distributions March 6, 2023 March 20, 2023 March 31, 2023 $ 0.31 $ 853 May 9, 2023 May 22, 2023 May 31, 2023 0.31 927 August 8, 2023 August 22, 2023 August 31, 2023 0.31 930 November 7, 2023 November 20, 2023 November 30, 2023 0.47 1,415 December 21, 2023 December 31, 2023 January 26, 2024 0.36 1,089 Total distributions declared $ 1.76 $ 5,214 Date Declared Record Date Payment Date Amount Distributions March 14, 2022 March 22, 2022 March 29, 2022 $ 0.31 $ 546 May 9, 2022 May 27, 2022 June 3, 2022 0.31 582 August 11, 2022 August 19, 2022 September 8, 2022 0.31 616 November 8, 2022 November 21, 2022 December 7, 2022 0.31 619 Total distributions declared $ 1.24 $ 2,363
Schedule of common stock issued pursuant to the dividend reinvestment plan	The following tables reflect the common stock issued pursuant to the dividend reinvestment plan during the years ended December 31, 2023 and 2022: Date Declared Record Date Payment Date Shares March 6, 2023 March 20, 2023 March 31, 2023 9,874 May 9, 2023 May 22, 2023 May 31, 2023 10,086 August 8, 2023 August 22, 2023 August 31, 2023 10,096 November 7, 2023 November 20, 2023 November 30, 2023 15,080 Total shares issued 45,136 Date Declared Record Date Payment Date Shares December 27, 2021 December 31, 2021 January 27, 2022 19,884 March 14, 2022 March 22, 2022 March 29, 2022 6,190 May 9, 2022 May 27, 2022 June 3, 2022 7,685 August 11, 2022 August 19, 2022 September 8, 2022 8,765 November 8, 2022 November 21, 2022 December 7, 2022 9,127 Total shares issued 51,651

Income Tax (Tables)

Income Tax (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Summary of Increase in Net Assets Resulting from Operations to Undistributed Taxable Income	The following table reconciles increase in net assets resulting from operations for the years ended December 31, 2023, 2022 and 2021, to undistributed taxable income at December 31, 2023, 2022 and 2021: 2023 2022 2021 Increase in net assets resulting from operations $ 7,104 $ ( 4,144 ) $ 4,332 Adjustments: Net change in unrealized depreciation (appreciation) on investments ( 4,027 ) 6,471 ( 125 ) Other expenses not currently deductible 2,287 ( 7 ) ( 113 ) Other book-tax differences — ( 2 ) ( 6 ) Taxable Income $ 5,364 $ 2,318 $ 4,088
Summary of Tax Character of Distributions	The tax character of distributions paid during the years ended December 31, 2023, 2022 and 2021 was as follows: For the Year Ended December 31, 2023 2022 2021 Ordinary Income $ 5,214 $ 2,317 $ 3,555 Capital Gain — 47 490 Total $ 5,214 $ 2,364 $ 4,045
Summary of Components of Distributable Earnings on Tax Basis	As of December 31, 2023 and 2022, the components of distributable earnings on a tax basis were as follows: December 31, 2023 December 31, 2022 Undistributed net investment income $ 151 $ 2 Undistributed net realized gain — — Other expenses not currently deductible — 193 Net change in unrealized appreciation on investments and derivatives ( 1,657 ) ( 5,683 ) Total distributable earnings $ ( 1,506 ) $ ( 5,488 )

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share Basic and Diluted	The following table sets forth the computation of basic and diluted earnings per common stock for the years ended December 31, 2023 , 2022 and 2021: For the Years Ended December 31, 2023 2022 2021 Increase in net assets resulting from operations per share - basic and diluted $ 7,104 $ ( 4,144 ) $ 4,332 Weighted average shares of common stock outstanding - basic and diluted 2,821,046 1,926,620 1,710,840 Net increase (decrease) in net assets resulting from operations per share - basic and diluted $ 2.52 $ ( 2.15 ) $ 2.53

Financial Highlights (Tables)

Financial Highlights (Tables)	12 Months Ended
	Dec. 31, 2023
Investment Company, Financial Highlights [Abstract]
Schedule of Financial Highlights	The following is a schedule of financial highlights for the years ended December 31, 2023, 2022, 2021, 2020 and 2019: For the Year Ended December 31, 2023 For the Year Ended December 31, 2022 For the Year Ended December 31, 2021 For the Year Ended December 31, 2020 For the Period from October 2, 2019 Per share data: Net asset value, beginning of period $ 21.85 $ 25.10 $ 24.88 $ 25.11 $ 25.00 Results of operations: Net investment income (1) 1.83 1.32 1.24 1.03 0.01 Net realized and unrealized gain (6) 0.69 ( 3.33 ) 1.32 0.35 0.13 Net increase (decrease) in net assets resulting from operations (1) 2.52 ( 2.01 ) 2.56 1.38 0.14 Stockholder distributions: (2) Distributions from net investment income ( 1.84 ) ( 1.24 ) ( 2.34 ) ( 1.61 ) ( 0.01 ) Net decrease in net assets resulting from stockholder distributions ( 1.84 ) ( 1.24 ) ( 2.34 ) ( 1.61 ) ( 0.01 ) Net asset value, end of period (7) $ 22.53 $ 21.85 $ 25.10 $ 24.88 $ 25.11 Shares outstanding, end of period 3,024,976 2,232,134 1,743,393 1,652,799 846,633 Total return based on net asset value (3) 11.6 % - 4.5 % 7.4 % 4.2 % 0.5 % Ratio/Supplemental Data: Net assets, end of period $ 68,147 $ 48,772 $ 43,765 $ 41,119 $ 21,255 Ratio of net investment income to average net assets (5) 8.4 % 5.3 % 4.9 % 4.1 % 0.2 % Ratio of total expenses to average net assets, excluding Expense Support Agreements (4) 15.9 % 12.4 % 12.3 % 12.4 % 30.1 % Ratio of net expenses to average net assets, including Expense Support Agreements (5) 18.1 % 14.1 % 12.9 % 9.1 % 5.0 % Average debt outstanding $ 64,337 $ 55,148 $ 53,669 $ 26,357 $ 3,043 Portfolio turnover 25.0 % 31.7 % 131.5 % 83.9 % 9.8 % Total amount of senior securities outstanding $ 71,000 $ 58,000 $ 55,000 $ 50,000 $ 20,000 Asset coverage per unit (6) $ 1,960 $ 1,841 $ 1,796 $ 1,822 $ 2,063 Total committed capital, end of period $ 68,490 $ 51,990 $ 41,759 $ 40,439 $ 27,214 Ratio of total contributed capital to total committed capital, end of period 100.0 % 100.0 % 100.0 % 99.3 % 77.8 % (1) The per share data was derived by using the weighted average shares outstanding during the period. (2) The per share data for distributions reflects the actual amount of distributions paid during the period. (3) Total return based on net asset value is calculated as the change in net asset value per share during the period, assuming dividends and distributions, if any, are reinvested in accordance with the Company’s dividend reinvestment plan divided by the beginning net asset value per share. Total return is not annualized. (4) The computation of average net assets during the period is based on averaging net assets for the period reported. Ratio includes the net expense support agreement amounts provided to or reimbursed by the Company during the period (5) The computation of average net assets during the period is based on averaging net assets for the period reported. Ratio excludes the net expense support agreement amounts provided to or reimbursed by the Company during the period (6) Asset coverage per unit is the ratio of the carrying value of the Company’s consolidated total assets, less liabilities and indebtedness not represented by senior securities, to the aggregate amount of senior securities representing indebtedness. Asset coverage per unit is expressed in terms of dollar amounts per $1,000 of indebtedness and is calculated on a consolidated basis. (7) The amount shown at this caption is the balancing figure derived from the other figures in the schedule. The amount shown at this caption is derived from total change in net asset value during the period and differs from the amount calculated using average shares because of the timing of issuances of the Company’s shares in relation to changes in net asset value during the period. (8) Represents the impact of different share amounts used in calculating per share data as a result of calculating certain per share data based on weighted average shares outstanding during the year or period and certain per share data on shares outstanding as of a year or period end or transaction date.

Selected Quarterly Financial _2

Selected Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2023
Quarterly Financial Information Disclosure [Abstract]
Summary of Quarterly Results of Operations	The following is the quarterly results of operations for the years ended December 31, 2023, 2022 and 2021: For the Quarter Ended December 31, September 30, June 30, March 31, Investment income $ 4,577 $ 4,234 $ 3,994 $ 3,482 Net expenses 2,604 2,821 3,063 2,628 Net investment income 1,973 1,413 931 854 Net realized and unrealized gain (loss) ( 245 ) 1,915 836 ( 573 ) Net increase in net assets resulting from operations 1,728 3,328 1,767 281 Net asset value per share as of the end of the quarter $ 22.53 $ 22.79 $ 21.99 $ 21.70 Net investment income per share $ 0.65 $ 0.47 $ 0.32 $ 0.36 Net increase in net assets resulting from operations per share $ 0.57 $ 1.11 $ 0.61 $ 0.12 For the Quarter Ended December 31, September 30, June 30, March 31, Investment income $ 3,108 $ 2,417 $ 1,890 $ 1,858 Net expenses 2,329 1,795 1,306 1,300 Net investment income 779 622 584 558 Net realized and unrealized gain (loss) ( 3,282 ) ( 1,264 ) ( 1,734 ) ( 407 ) Net increase in net assets resulting from operations ( 2,503 ) ( 642 ) ( 1,150 ) 151 Net asset value per share as of the end of the quarter $ 21.85 $ 23.35 $ 23.97 $ 24.89 Net investment income per share $ 0.37 $ 0.31 $ 0.31 $ 0.32 Net increase in net assets resulting from operations per share $ ( 1.20 ) $ ( 0.32 ) $ ( 0.61 ) $ 0.09 For the Quarter Ended December 31, September 30, June 30, March 31, Investment income $ 1,954 $ 2,077 $ 2,056 $ 1,663 Net expenses 1,417 1,539 1,520 1,148 Net investment income 537 538 536 515 Net realized and unrealized gain (loss) ( 205 ) 263 356 1,792 Net increase in net assets resulting from operations 332 801 892 2,307 Net asset value per share as of the end of the quarter $ 25.10 $ 26.32 $ 26.17 $ 25.95 Net investment income per share $ 0.31 $ 0.31 $ 0.31 $ 0.32 Net increase in net assets resulting from operations per share $ 0.19 $ 0.46 $ 0.52 $ 1.39

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Summary of Outstanding Commitments to Fund Investments in Current Portfolio Companies	As of December 31, 2023 and December 31, 2022, the Company had the following outstanding commitments to fund investments in current portfolio companies: Portfolio Company Investment December 31, 2023 December 31, 2022 Accordion Partners LLC Senior Secured Loan $ 1,632 $ — AMCP PET HOLDINGS, INC. Senior Secured Loan 175 — Beta Plus Technologies R/C Senior Secured Loan 473 525 Critical Nurse Staffing LLC Senior Secured Loan - 258 Great Lakes II Funding LLC Equity/Other 11 — Green Park M-1 Series Equity/Other 366 — Morae Global Inc Senior Secured Loan 292 — PhyNet Dermatology LLC Senior Secured Loan 1,713 — Tactical Air Support, Inc Senior Secured Loan 571 — Premier Imaging DD T/L (LucidHealth) Senior Secured Loan — 64 Tank Holding Corp Senior Secured Loan 249 — VBC Spine Opco LLC Senior Secured Loan 1,080 — Total Unfunded Portfolio Company Commitments $ 6,562 $ 847

Senior Securities Asset Cover_2

Senior Securities Asset Coverage (Tables)	12 Months Ended
	Dec. 31, 2023
Line of Credit Facility [Abstract]
Schedule of Information about Senior Securities	Information about the Company’s senior securities is shown in the table below for the years ended December 31, 2023, 2022 and 2021: Class and Year Total Amount (1) Asset (2) Involuntary (3) Average (4) Credit Facility December 31, 2023 $ 71,000 1,960 — N/A December 31, 2022 $ 58,000 1,841 — N/A December 31, 2021 $ 55,000 1,796 — N/A December 31, 2020 $ 50,000 1,822 — N/A December 31, 2019 $ 20,000 2,063 — N/A (1) Total amount of each class of senior securities outstanding at the end of the year or period presented. (2) Asset coverage per unit is the ratio of the carrying value of the Company’s consolidated total assets, less all liabilities excluding indebtedness represented by senior securities in this table, to the aggregate amount of senior securities representing indebtedness. Asset coverage per unit is expressed in terms of dollar amounts per $ 1,000 of indebtedness and is calculated on a consolidated basis. (3) The amount to which such class of senior security would be entitled upon our involuntary liquidation in preference to any security junior to it. The “—” in this column indicates information that the SEC expressly does not require to be disclosed for certain types of senior securities. (4) Not applicable because the senior securities are not registered for public trading.

Significant Accounting Polici_3

Significant Accounting Policies (Additional Information) (Details)	12 Months Ended
	Dec. 31, 2023
Ordinary income, percentage	98%
Capital gains in excess of capital losses, percentage	98.20%
Nondeductible excise tax, percentage	4%
Minimum percentage of distribution in cash	20%
Minimum [Member]
Taxable income for sharehorlders, percentage	90%
Percentage of aggregate declared distribution	20%

Related Party Transactions - Sc

Related Party Transactions - Schedule of Related Party Transactions (Details) - USD ($) $ in Thousands		3 Months Ended				12 Months Ended
		Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2023
Related Party Transactions [Abstract]
Expense payment received from adviser	[1]	$ 217	$ 68	$ 752	$ 346	$ 1,383
Reimbursement payment made to adviser		217	68	752	346	1,383
Unreimbursed expense payment	[1]	$ 0	$ 0	$ 0	$ 0	$ 0
Eligible for reimbursement through	[1]	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023
[1] The actual date that the estimated Expense Payment is eligible for reimbursement will be determined when such Expense Payment is actually made by the Adviser.

Related Party Transactions (Add

Related Party Transactions (Additional Information) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Termination of agreement, description	The Administration Agreement may be terminated at any time, without the payment of any penalty, upon 60 days’ written notice, by the vote of a majority of the outstanding voting shares of the Company or by the vote of the Board or by the Administrator.
Administrative fees	$ 616,000	$ 507,000	$ 459,000
Management fees expense	1,237,000	982,000	946,000
Operating expenses	1,400,000	1,500,000
Audit fees	215,000	200,000	203,000
Legal fees	394,000	438,000	458,000
Professional fees	358,000	342,000	161,000
Accrued organization and offering costs	$ 30,000	200,000	12,000
Expense Support Agreement expiration description	The Expense Support Agreement expired pursuant to its terms on September 26, 2022, other than with respect to reimbursement payments that the Adviser may be entitled to from the Company pursuant to the Expense Support Agreement, for a period of three years following the last business day of the calendar quarter in which the Adviser reimbursed the Company.
Pre-incentive fee	$ 480,000	192,000	512,000
Third Party [Member]
Related Party Transaction [Line Items]
Operating expenses	1,200,000
Audit fees	200,000
Legal fees	500,000
Professional fees	22,300
Director fee	200,000
Insurance	200,000
Other expense	62,400
Administration Agreement [Member]
Related Party Transaction [Line Items]
Administrative fees	$ 600,000	500,000	500,000
Investment Advisory Agreement [Member]
Related Party Transaction [Line Items]
Termination of agreement, description	The Investment Advisory Agreement may be terminated at any time, without the payment of any penalty, upon 60 days’ written notice and, in certain circumstances, upon 120 days’ written notice, by the vote of a majority of the outstanding voting shares of the Company or by the vote of the Board or by the Adviser.
Management fees, description	The base management fee is payable quarterly in arrears at an annual rate of 1.00% (1.50% if an exchange listing occurs) of the Company’s average gross assets, excluding cash and cash equivalents but including assets purchased with borrowed amounts, at the end of the two most recently completed calendar quarters
Management fees expense	$ 1,200,000	1,000,000	1,000,000
Incentive fees, description	the income incentive fee, payable at the end of each quarter in arrears, equals 100% of the pre-incentive fee net investment income in excess of a 1.50% quarterly preferred return but less than 1.76% (1.818% if an exchange listing occurs), the upper level breakpoint, and 15% (17.50% if an exchange listing occurs) of the amount of pre-incentive fee net investment income that exceeds 1.76% (1.818% if an exchange listing occurs) in any calendar quarter.
Percentage of cumulative realized capital gains	15%
Incentive fees	$ (1,100,000)	(100,000)	$ (700,000)
Organization and Offering Costs [Member]
Related Party Transaction [Line Items]
Organization and portfolio offering costs rate	1.50%
Accrued organization and offering costs	$ 1,400,000
Expense reimbursement recoverable by advisor	$ 1,400,000	$ 800,000

Investments and Fair Value Me_3

Investments and Fair Value Measurements - Schedule Of Investment Portfolio At Amortized Cost And Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Summary of Investment Holdings [Line Items]
Amortized cost	$ 135,332	$ 106,156
Percentage of Portfolio	100%	100%
Fair Value	$ 133,675	$ 100,417
Percentage of Portfolio	100%	100%
Senior Secured Loan - 193.2%
Summary of Investment Holdings [Line Items]
Amortized cost	$ 129,511	$ 101,025
Percentage of Portfolio	94.30%	95.20%
Fair Value	$ 126,050	$ 94,047
Percentage of Portfolio	95.70%	93.70%
Structured Note
Summary of Investment Holdings [Line Items]
Amortized cost	$ 3,840	$ 4,073
Percentage of Portfolio	2.90%	3.80%
Fair Value	$ 3,860	$ 4,053
Percentage of Portfolio	2.80%	4%
Equity/Other
Summary of Investment Holdings [Line Items]
Amortized cost	$ 1,981	$ 725
Percentage of Portfolio	2.80%	0.70%
Fair Value	$ 3,765	$ 2,036
Percentage of Portfolio	1.50%	2%
Subordinated Structured Note
Summary of Investment Holdings [Line Items]
Amortized cost		$ 333
Percentage of Portfolio		0.30%
Fair Value		$ 281
Percentage of Portfolio		0.30%

Investments and Fair Value Me_4

Investments and Fair Value Measurements - Schedule of the industry and geographic composition of the Company's investment portfolio (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Summary of Investment Holdings [Line Items]
Amortized Cost	$ 135,332	$ 106,156
Percentage of Portfolio	100%	100%
Fair Value	$ 133,675	$ 100,417
Percentage of Portfolio	100%	100%
United States
Summary of Investment Holdings [Line Items]
Amortized Cost	$ 128,830	$ 101,750
Percentage of Portfolio	95.20%	95.80%
Fair Value	$ 127,153	$ 96,083
Percentage of Portfolio	95.10%	95.70%
International
Summary of Investment Holdings [Line Items]
Amortized Cost	$ 6,502	$ 4,406
Percentage of Portfolio	4.80%	4.20%
Fair Value	$ 6,522	$ 4,334
Percentage of Portfolio	4.90%	4.30%
Information Technology
Summary of Investment Holdings [Line Items]
Amortized Cost	$ 52,690	$ 51,202
Percentage of Portfolio	37.50%	48.20%
Fair Value	$ 50,152	$ 46,392
Percentage of Portfolio	38.90%	46.20%
Industrials
Summary of Investment Holdings [Line Items]
Amortized Cost	$ 21,413	$ 8,104
Percentage of Portfolio	16.10%	7.60%
Fair Value	$ 21,520	$ 7,850
Percentage of Portfolio	15.80%	7.80%
Financials
Summary of Investment Holdings [Line Items]
Amortized Cost	$ 15,629	$ 11,080
Percentage of Portfolio	12.80%	10.40%
Fair Value	$ 17,148	$ 12,165
Percentage of Portfolio	11.50%	12.10%
Healthcare
Summary of Investment Holdings [Line Items]
Amortized Cost	$ 23,105	$ 11,591
Percentage of Portfolio	17.30%	10.90%
Fair Value	$ 23,119	$ 11,455
Percentage of Portfolio	17.20%	11.40%
Consumer Staples
Summary of Investment Holdings [Line Items]
Amortized Cost	$ 7,003	$ 6,986
Percentage of Portfolio	5%	6.70%
Fair Value	$ 6,720	$ 6,972
Percentage of Portfolio	5.20%	6.90%
Consumer Discretionary
Summary of Investment Holdings [Line Items]
Amortized Cost	$ 3,066	$ 3,274
Percentage of Portfolio	2.30%	3.10%
Fair Value	$ 3,056	$ 3,270
Percentage of Portfolio	2.30%	3.30%
Collateralized Loan Obligation - Debt Class
Summary of Investment Holdings [Line Items]
Amortized Cost	$ 3,840	$ 4,073
Percentage of Portfolio	2.90%	3.80%
Fair Value	$ 3,860	$ 4,053
Percentage of Portfolio	2.80%	4%
Gaming
Summary of Investment Holdings [Line Items]
Amortized Cost	$ 1,723	$ 3,738
Percentage of Portfolio	1.30%	3.50%
Fair Value	$ 1,710	$ 2,239
Percentage of Portfolio	1.30%	2.30%
Communication Services
Summary of Investment Holdings [Line Items]
Amortized Cost	$ 4,917	$ 3,813
Percentage of Portfolio	3.70%	3.60%
Fair Value	$ 4,932	$ 3,787
Percentage of Portfolio	3.60%	3.80%
Transportation
Summary of Investment Holdings [Line Items]
Amortized Cost	$ 1,946	$ 1,962
Percentage of Portfolio	1.10%	1.80%
Fair Value	$ 1,458	$ 1,953
Percentage of Portfolio	1.40%	1.90%
Collateralized Loan Obligation - Equity Class
Summary of Investment Holdings [Line Items]
Amortized Cost		$ 333
Percentage of Portfolio		0.40%
Fair Value		$ 281
Percentage of Portfolio		0.30%

Investments and Fair Value Me_5

Investments and Fair Value Measurements - Schedule of Investments in Affiliates (Details) - Non-Controlled Affiliates [Member] $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Investments in and Advances to Affiliates [Line Items]
Affiliate Fair Value, Beginning Balance	$ 0
Transfers In/Out of Affiliates	214
Purchases(sales) of or Advances/Distributions	8
Net Change in Unrealized Gain/(Loss)	4
Affiliate Fair Value, Ending Balance	226
Investments in Affiliates Investment Income	12
Great Lakes II Funding LLC [Member] | Financial Services [Member]
Investments in and Advances to Affiliates [Line Items]
Affiliate Fair Value, Beginning Balance	0	[1],[2],[3]
Transfers In/Out of Affiliates	80	[1],[2],[3]
Purchases(sales) of or Advances/Distributions	8	[1],[2],[3]
Net Change in Unrealized Gain/(Loss)	4	[1],[2],[3]
Affiliate Fair Value, Ending Balance	92	[1],[2],[3]
Investments in Affiliates Investment Income	12	[1],[2],[3]
Green Park M-1 Series [Member] | Industrials [Member]
Investments in and Advances to Affiliates [Line Items]
Affiliate Fair Value, Beginning Balance	0	[1],[2],[3],[4]
Transfers In/Out of Affiliates	34	[1],[2],[3],[4]
Purchases(sales) of or Advances/Distributions	0	[1],[2],[3],[4]
Net Change in Unrealized Gain/(Loss)	0	[1],[2],[3],[4]
Affiliate Fair Value, Ending Balance	34	[1],[2],[3],[4]
Investments in Affiliates Investment Income	0	[1],[2],[3],[4]
GreenPark Infrastructure A Series [Member] | Industrials [Member]
Investments in and Advances to Affiliates [Line Items]
Affiliate Fair Value, Beginning Balance	0	[1],[3],[4]
Transfers In/Out of Affiliates	100	[1],[3],[4]
Purchases(sales) of or Advances/Distributions	0	[1],[3],[4]
Net Change in Unrealized Gain/(Loss)	0	[1],[3],[4]
Affiliate Fair Value, Ending Balance	100	[1],[3],[4]
Investments in Affiliates Investment Income	$ 0	[1],[3],[4]
[1] Fair value of this investment was determined using significant unobservable inputs Security has an unfunded commitment in addition to the amounts shown in the Consolidated Schedule of Investments. See Note 8 for additional information on the Company’s commitments and contingencies. Under the 1940 Act, the Company is deemed to be an “Affiliated Person” of, as defined in the 1940 Act, this portfolio company as the Company owns at least 5% of the portfolio company’s outstanding voting securities or is under common control with such portfolio company. Qualified asset for purposes of section 55(a) of the Investment Company Act of 1940

Investments and Fair Value Me_6

Investments and Fair Value Measurements - Schedule of Fair Value of Investments by Fair Value Hierarchy Levels (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments, Fair Value Disclosure, Total	$ 133,675	$ 100,472
Senior Secured Loan | Accounting Standards Update 2011-04 [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments, Fair Value Disclosure, Total	126,050	94,047
Structured Note | Accounting Standards Update 2011-04 [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments, Fair Value Disclosure, Total	3,860	4,053
Subordinated Structured Note | Accounting Standards Update 2011-04 [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments, Fair Value Disclosure, Total		281
Equity/Other [Member] | Accounting Standards Update 2011-04 [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments, Fair Value Disclosure, Total	3,765	2,036
Total Investments | Accounting Standards Update 2011-04 [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments, Fair Value Disclosure, Total	133,675	100,417
Forward Contracts | Accounting Standards Update 2011-04 [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments, Fair Value Disclosure, Total	0	55
Fair Value, Inputs, Level 1
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments, Fair Value Disclosure, Total	0	0
Fair Value, Inputs, Level 1 | Senior Secured Loan | Accounting Standards Update 2011-04 [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments, Fair Value Disclosure, Total	0	0
Fair Value, Inputs, Level 1 | Structured Note | Accounting Standards Update 2011-04 [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments, Fair Value Disclosure, Total	0	0
Fair Value, Inputs, Level 1 | Subordinated Structured Note | Accounting Standards Update 2011-04 [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments, Fair Value Disclosure, Total		0
Fair Value, Inputs, Level 1 | Equity/Other [Member] | Accounting Standards Update 2011-04 [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments, Fair Value Disclosure, Total	0	0
Fair Value, Inputs, Level 1 | Total Investments | Accounting Standards Update 2011-04 [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments, Fair Value Disclosure, Total	0	0
Fair Value, Inputs, Level 1 | Forward Contracts | Accounting Standards Update 2011-04 [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments, Fair Value Disclosure, Total	0	0
Fair Value, Inputs, Level 2
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments, Fair Value Disclosure, Total	34,203	17,805
Fair Value, Inputs, Level 2 | Senior Secured Loan | Accounting Standards Update 2011-04 [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments, Fair Value Disclosure, Total	34,203	17,805
Fair Value, Inputs, Level 2 | Structured Note | Accounting Standards Update 2011-04 [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments, Fair Value Disclosure, Total	0	0
Fair Value, Inputs, Level 2 | Subordinated Structured Note | Accounting Standards Update 2011-04 [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments, Fair Value Disclosure, Total		0
Fair Value, Inputs, Level 2 | Equity/Other [Member] | Accounting Standards Update 2011-04 [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments, Fair Value Disclosure, Total	0	0
Fair Value, Inputs, Level 2 | Total Investments | Accounting Standards Update 2011-04 [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments, Fair Value Disclosure, Total	34,203	17,805
Fair Value, Inputs, Level 2 | Forward Contracts | Accounting Standards Update 2011-04 [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments, Fair Value Disclosure, Total	0	0
Fair Value, Inputs, Level 3
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments, Fair Value Disclosure, Total	99,472	82,667
Fair Value, Inputs, Level 3 | Senior Secured Loan | Accounting Standards Update 2011-04 [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments, Fair Value Disclosure, Total	91,847	76,242
Fair Value, Inputs, Level 3 | Structured Note | Accounting Standards Update 2011-04 [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments, Fair Value Disclosure, Total	3,860	4,053
Fair Value, Inputs, Level 3 | Subordinated Structured Note | Accounting Standards Update 2011-04 [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments, Fair Value Disclosure, Total		281
Fair Value, Inputs, Level 3 | Equity/Other [Member] | Accounting Standards Update 2011-04 [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments, Fair Value Disclosure, Total	3,765	2,036
Fair Value, Inputs, Level 3 | Total Investments | Accounting Standards Update 2011-04 [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments, Fair Value Disclosure, Total	99,472	82,612
Fair Value, Inputs, Level 3 | Forward Contracts | Accounting Standards Update 2011-04 [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments, Fair Value Disclosure, Total	$ 0	$ 55

Investments and Fair Value Me_7

Investments and Fair Value Measurements - Schedule of Company's investment portfolio for which level 3 inputs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Net accretion of discounts	$ 606	$ 298	$ 415
Fair Value, Inputs, Level 3 | Senior Secured Loan
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Beginning balance	76,242	68,025
Purchases of investments	43,583	34,311
Proceeds from principal repayments and sales of investments	(24,122)	(20,920)
Payment in-kind interest income	599	205
Net accretion of discounts	369	234
Net change in unrealized appreciation (depreciation) on investments	395	(1,927)
Net realized gain on investments	194	(37)
Transfers into level 3	0	0
Transfers out of level 3	(5,413)	(7,628)
Ending balance	91,847	76,242	68,025
Net change in unrealized appreciation (depreciation) on Level 3 investments still held	39	(1,809)
Fair Value, Inputs, Level 3 | Structured Note
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Beginning balance	4,053	4,181
Purchases of investments	0	0
Proceeds from principal repayments and sales of investments	(320)	0
Payment in-kind interest income	0	0
Net accretion of discounts	0	0
Net change in unrealized appreciation (depreciation) on investments	(40)	(128)
Net realized gain on investments	87	0
Transfers into level 3	0	0
Transfers out of level 3	0	0
Ending balance	3,860	4,053	4,181
Net change in unrealized appreciation (depreciation) on Level 3 investments still held	129	(128)
Fair Value, Inputs, Level 3 | Subordinated Structured Note
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Beginning balance	281	297
Purchases of investments	0	0
Proceeds from principal repayments and sales of investments	(350)	0
Payment in-kind interest income	0	0
Net accretion of discounts	0	0
Net change in unrealized appreciation (depreciation) on investments	52	(16)
Net realized gain on investments	17	0
Transfers into level 3	0	0
Transfers out of level 3	0	0
Ending balance	0	281	297
Net change in unrealized appreciation (depreciation) on Level 3 investments still held	0	(16)
Fair Value, Inputs, Level 3 | Equity/Other
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Beginning balance	2,036	150
Purchases of investments	1,266	746
Proceeds from principal repayments and sales of investments	0	0
Payment in-kind interest income	0	0
Net accretion of discounts	0	0
Net change in unrealized appreciation (depreciation) on investments	471	1,161
Net realized gain on investments	0	0
Transfers into level 3	0	0
Transfers out of level 3	0	0
Ending balance	3,765	2,036	150
Net change in unrealized appreciation (depreciation) on Level 3 investments still held	50	1,162
Fair Value, Inputs, Level 3 | Total Investments
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Beginning balance	82,612	72,653
Purchases of investments	44,849	35,057
Proceeds from principal repayments and sales of investments	(24,800)	(20,941)
Payment in-kind interest income	599	205
Net accretion of discounts	369	234
Net change in unrealized appreciation (depreciation) on investments	958	(910)
Net realized gain on investments	298	(37)
Transfers into level 3	0	0
Transfers out of level 3	(5,413)	(7,628)
Ending balance	99,472	82,612	72,653
Net change in unrealized appreciation (depreciation) on Level 3 investments still held	218	(791)
Fair Value, Inputs, Level 3 | Forward Contracts
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Beginning balance	55	53
Purchases of investments	0	0
Proceeds from principal repayments and sales of investments	0	0
Payment in-kind interest income	0	0
Net accretion of discounts	0	0
Net change in unrealized appreciation (depreciation) on investments	0	2
Net realized gain on investments	0	0
Transfers into level 3	0	0
Transfers out of level 3	0	0
Ending balance	0	55	$ 53
Net change in unrealized appreciation (depreciation) on Level 3 investments still held	$ 0	$ 2

Investments and Fair Value Me_8

Investments and Fair Value Measurements - Schedule of valuation techniques and significant unobservable inputs used in the valuation of level 3 investments (Details) $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Summary of Investment Holdings [Line Items]
Fair Value	$ 133,675	$ 100,417
Fair Value, Inputs, Level 3 [Member]
Summary of Investment Holdings [Line Items]
Fair Value	99,472	82,612
Equity [Member]
Summary of Investment Holdings [Line Items]
Fair Value	3,765	2,036
Equity [Member] | Fair Value, Inputs, Level 3 [Member]
Summary of Investment Holdings [Line Items]
Fair Value	$ 2,543	$ 2,037
Equity [Member] | Enterprise Valuation [Member] | Fair Value, Inputs, Level 3 [Member] | Average EBITDA Multiple [Member] | Minimum [Member]
Summary of Investment Holdings [Line Items]
Range (Weighted Average)	0.16	1
Equity [Member] | Enterprise Valuation [Member] | Fair Value, Inputs, Level 3 [Member] | Average EBITDA Multiple [Member] | Maximum [Member]
Summary of Investment Holdings [Line Items]
Range (Weighted Average)	1.8	0.13
Equity [Member] | Enterprise Valuation [Member] | Fair Value, Inputs, Level 3 [Member] | Average EBITDA Multiple [Member] | Weighted Average [Member]
Summary of Investment Holdings [Line Items]
Range (Weighted Average)	0.47	1.06
Equity One [Member] | Fair Value, Inputs, Level 3 [Member]
Summary of Investment Holdings [Line Items]
Fair Value	$ 226
Equity One [Member] | Enterprise Valuation [Member] | Fair Value, Inputs, Level 3 [Member] | Net Asset Value [Member] | Minimum [Member]
Summary of Investment Holdings [Line Items]
Range (Weighted Average)	10
Equity One [Member] | Enterprise Valuation [Member] | Fair Value, Inputs, Level 3 [Member] | Net Asset Value [Member] | Maximum [Member]
Summary of Investment Holdings [Line Items]
Range (Weighted Average)	10.3
Equity One [Member] | Enterprise Valuation [Member] | Fair Value, Inputs, Level 3 [Member] | Net Asset Value [Member] | Weighted Average [Member]
Summary of Investment Holdings [Line Items]
Range (Weighted Average)	10.1
Equity Two [Member] | Fair Value, Inputs, Level 3 [Member]
Summary of Investment Holdings [Line Items]
Fair Value	$ 996
Equity Two [Member] | Enterprise Valuation [Member] | Fair Value, Inputs, Level 3 [Member] | Net Asset Value [Member] | Weighted Average [Member]
Summary of Investment Holdings [Line Items]
Range (Weighted Average)	0.149
Equity Two [Member] | Recent Transaction [Member] | Fair Value, Inputs, Level 3 [Member] | Transaction Price [Member] | Minimum [Member]
Summary of Investment Holdings [Line Items]
Range (Weighted Average)	0.149
Equity Two [Member] | Recent Transaction [Member] | Fair Value, Inputs, Level 3 [Member] | Transaction Price [Member] | Maximum [Member]
Summary of Investment Holdings [Line Items]
Range (Weighted Average)	0.149
Senior Secured Loan [Member] | Fair Value, Inputs, Level 3 [Member]
Summary of Investment Holdings [Line Items]
Fair Value	$ 81,864	$ 4,880
Senior Secured Loan [Member] | Recent Transaction [Member] | Fair Value, Inputs, Level 3 [Member] | Transaction Price [Member] | Minimum [Member]
Summary of Investment Holdings [Line Items]
Range (Weighted Average)		9.8
Senior Secured Loan [Member] | Recent Transaction [Member] | Fair Value, Inputs, Level 3 [Member] | Transaction Price [Member] | Maximum [Member]
Summary of Investment Holdings [Line Items]
Range (Weighted Average)		9.8
Senior Secured Loan [Member] | Recent Transaction [Member] | Fair Value, Inputs, Level 3 [Member] | Transaction Price [Member] | Weighted Average [Member]
Summary of Investment Holdings [Line Items]
Range (Weighted Average)		9.8
Senior Secured Loan [Member] | Discounted Cash Flows [Member] | Fair Value, Inputs, Level 3 [Member] | Market Yield [Member] | Minimum [Member]
Summary of Investment Holdings [Line Items]
Range (Weighted Average)		0.062
Senior Secured Loan [Member] | Discounted Cash Flows [Member] | Fair Value, Inputs, Level 3 [Member] | Market Yield [Member] | Maximum [Member]
Summary of Investment Holdings [Line Items]
Range (Weighted Average)		0.21
Senior Secured Loan [Member] | Discounted Cash Flows [Member] | Fair Value, Inputs, Level 3 [Member] | Market Yield [Member] | Weighted Average [Member]
Summary of Investment Holdings [Line Items]
Range (Weighted Average)	0.111	0.096
Senior Secured Loan One [Member] | Fair Value, Inputs, Level 3 [Member]
Summary of Investment Holdings [Line Items]
Fair Value	$ 9,983	$ 71,361
Senior Secured Loan One [Member] | Recent Transaction [Member] | Fair Value, Inputs, Level 3 [Member] | Transaction Price [Member] | Minimum [Member]
Summary of Investment Holdings [Line Items]
Range (Weighted Average)	0.965
Senior Secured Loan One [Member] | Recent Transaction [Member] | Fair Value, Inputs, Level 3 [Member] | Transaction Price [Member] | Maximum [Member]
Summary of Investment Holdings [Line Items]
Range (Weighted Average)	1
Senior Secured Loan One [Member] | Recent Transaction [Member] | Fair Value, Inputs, Level 3 [Member] | Transaction Price [Member] | Weighted Average [Member]
Summary of Investment Holdings [Line Items]
Range (Weighted Average)	0.982
Senior Secured Loan One [Member] | Discounted Cash Flows [Member] | Fair Value, Inputs, Level 3 [Member] | Market Yield [Member] | Minimum [Member]
Summary of Investment Holdings [Line Items]
Range (Weighted Average)	0.061
Senior Secured Loan One [Member] | Discounted Cash Flows [Member] | Fair Value, Inputs, Level 3 [Member] | Market Yield [Member] | Maximum [Member]
Summary of Investment Holdings [Line Items]
Range (Weighted Average)	0.193
Structured Note [Member]
Summary of Investment Holdings [Line Items]
Fair Value	$ 3,860	4,053
Structured Note [Member] | Fair Value, Inputs, Level 3 [Member]
Summary of Investment Holdings [Line Items]
Fair Value	$ 3,860	$ 4,053
Structured Note [Member] | Discounted Cash Flows [Member] | Fair Value, Inputs, Level 3 [Member] | Market Yield [Member] | Minimum [Member]
Summary of Investment Holdings [Line Items]
Range (Weighted Average)	0.119	0.093
Structured Note [Member] | Discounted Cash Flows [Member] | Fair Value, Inputs, Level 3 [Member] | Market Yield [Member] | Maximum [Member]
Summary of Investment Holdings [Line Items]
Range (Weighted Average)	0.119	0.122
Structured Note [Member] | Discounted Cash Flows [Member] | Fair Value, Inputs, Level 3 [Member] | Market Yield [Member] | Weighted Average [Member]
Summary of Investment Holdings [Line Items]
Range (Weighted Average)	0.119	0.12
Subordinated Structured Note [Member]
Summary of Investment Holdings [Line Items]
Fair Value		$ 281
Subordinated Structured Note [Member] | Fair Value, Inputs, Level 3 [Member]
Summary of Investment Holdings [Line Items]
Fair Value		$ 281
Subordinated Structured Note [Member] | Discounted Cash Flows [Member] | Fair Value, Inputs, Level 3 [Member] | Market Yield [Member] | Minimum [Member]
Summary of Investment Holdings [Line Items]
Range (Weighted Average)		0.142
Subordinated Structured Note [Member] | Discounted Cash Flows [Member] | Fair Value, Inputs, Level 3 [Member] | Market Yield [Member] | Maximum [Member]
Summary of Investment Holdings [Line Items]
Range (Weighted Average)		0.152
Subordinated Structured Note [Member] | Discounted Cash Flows [Member] | Fair Value, Inputs, Level 3 [Member] | Market Yield [Member] | Weighted Average [Member]
Summary of Investment Holdings [Line Items]
Range (Weighted Average)		0.147
Forward Contracts [Member] | Fair Value, Inputs, Level 3 [Member]
Summary of Investment Holdings [Line Items]
Fair Value		$ 55
Forward Contracts [Member] | Option Pricing Model [Member] | Fair Value, Inputs, Level 3 [Member] | Expected Volatility [Member] | Minimum [Member]
Summary of Investment Holdings [Line Items]
Range (Weighted Average)		0.01
Forward Contracts [Member] | Option Pricing Model [Member] | Fair Value, Inputs, Level 3 [Member] | Expected Volatility [Member] | Maximum [Member]
Summary of Investment Holdings [Line Items]
Range (Weighted Average)		0.02
Forward Contracts [Member] | Option Pricing Model [Member] | Fair Value, Inputs, Level 3 [Member] | Expected Volatility [Member] | Weighted Average [Member]
Summary of Investment Holdings [Line Items]
Range (Weighted Average)		0.015

Borrowings (Additional Informat

Borrowings (Additional Information) (Details) - USD ($) $ in Millions		12 Months Ended
	Mar. 12, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 16, 2019
Debt Instrument [Line Items]
Asset coverage		196%	184.10%
Fourth A&R Facility [Member]
Debt Instrument [Line Items]
Financing Fee Per Year Spread Percentage		2.91161%
Debt Instrument Repurchase Date		Dec. 19, 2024
Maximum [Member] | UBS [Member]
Debt Instrument [Line Items]
Debt financing facility				$ 50
Maximum [Member] | Second A&R Facility [Member]
Debt Instrument [Line Items]
Debt financing facility	$ 75
Minimum [Member]
Debt Instrument [Line Items]
Asset coverage		150%
Minimum [Member] | Second A&R Facility [Member]
Debt Instrument [Line Items]
Debt financing facility	50
Minimum [Member] | 1940 Act [Member]
Debt Instrument [Line Items]
Asset coverage		200%
Class A Notes [Member] | Maximum [Member] | Fourth A&R Facility [Member]
Debt Instrument [Line Items]
Aggregate Purchase Price	$ 110

Borrowings - Summary of Debt ob

Borrowings - Summary of Debt obligations (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Debt [Member]
Line of Credit Facility [Line Items]
Total Aggregate Borrowing Capacity	$ 110,000	$ 75,000
Total Principal Outstanding	71,000	58,000
Less Deferred Financing Costs	(663)	(772)
Amount per Consolidated Statements of Assets and Liabilities	70,337	57,228
Credit Facility [Member]
Line of Credit Facility [Line Items]
Total Aggregate Borrowing Capacity	110,000	75,000
Total Principal Outstanding	71,000	58,000
Less Deferred Financing Costs	(663)	(772)
Amount per Consolidated Statements of Assets and Liabilities	$ 70,337	$ 57,228

Borrowings - Summary of compone

Borrowings - Summary of components of interest expense (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Interest Expense [Abstract]
Interest expense		$ 5,170	$ 2,503	$ 1,528
Amortization of deferred financing and debt issuance costs		109	110	104
Total Interest Expense		5,279	2,613	1,632
Average debt outstanding	$ 3,043	$ 64,337	$ 55,148	$ 53,669	$ 26,357
Weighted average interest rate		8.20%	4.70%	2.80%

Share Transactions (Additional

Share Transactions (Additional Information) (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended	12 Months Ended
	Apr. 10, 2018	Dec. 31, 2019	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock, authorized			1,000,000,000	1,000,000,000
Common stock, par value			$ 0.001	$ 0.001
Common stock, issued	4,000		3,024,976	2,232,134
Proceeds from issuance of shares of common stock	$ 100,000		$ 16,500	$ 10,231	$ 1,620
Capital commitments		$ 27,214	68,490	51,990	$ 41,759	$ 40,439
Subscription Agreements [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Capital commitments			$ 68,500	$ 52,000

Share Transactions - Summary of

Share Transactions - Summary of total shares issued and proceeds receivedSummart of related to capital drawdowns delivered pursuant to the Subscription Agreements (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Equity [Abstract]
Capital Drawdown Notice Date	Mar. 03, 2023	Mar. 16, 2022
Capital Drawdown Notice Date1	May 09, 2023	Apr. 19, 2022
Capital Drawdown Notice Date2		Jun. 17, 2022
Capital Drawdown Notice Date 3		Nov. 23, 2022
Common Share Issuance Date	Mar. 08, 2023	Mar. 30, 2022
Capital Drawdown Share Issuance Date 1	May 09, 2023	May 06, 2022
Capital Drawdown Share Issuance Date 2		Jul. 01, 2022
Capital Drawdown Share Issuance Date 3		Nov. 29, 2022
Number of Common Shares Issued	519,187	91,677
Capital Drawdown Shares Issued 1	228,519	16,000
Capital Drawdown Shares Issued 2		103,821
Capital Drawdown Shares Issued 3		225,592
Total Number of Share Issued	747,706	437,090
Aggregate Offering Price	$ 11,500	$ 2,280
Capital Drawdown Shares Issued Offering Price 1	5,000	400
Capital Drawdown Shares Issued Offering Price 2		2,500
Capital Drawdown Shares Issued Offering Price 3		5,051
Total Aggregate Offering Price	$ 16,500	$ 10,231

Share Transactions - Summary _2

Share Transactions - Summary of distribution declared (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Date Declared	Mar. 06, 2023	Mar. 14, 2022
Date Declared	May 09, 2023	May 09, 2022
Date Declared	Aug. 08, 2023	Aug. 11, 2022
Date Declared	Nov. 07, 2023	Nov. 08, 2022
Date Declared	Dec. 21, 2023
Record Date	Mar. 20, 2023	Mar. 22, 2022
Record Date	May 22, 2023	May 27, 2022
Record Date	Aug. 22, 2023	Aug. 19, 2022
Record Date	Nov. 20, 2023	Nov. 21, 2022
Record Date	Dec. 31, 2023
Payment Date	Mar. 31, 2023	Mar. 29, 2022
Payment Date	May 31, 2023	Jun. 03, 2022
Payment Date	Aug. 31, 2023	Sep. 08, 2022
Payment Date	Nov. 30, 2023	Dec. 07, 2022
Payment Date	Jan. 26, 2024
Amount Per Share	$ 1.76	$ 1.24
Total distributions declared, amount per share	$ 1.76	$ 1.24
Distributions Declared	5,214	2,363
Total distributions declared	5,214	2,363
March 6, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Amount Per Share	$ 0.31
Total distributions declared, amount per share	$ 0.31
Distributions Declared	853
Total distributions declared	853
May 9, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Amount Per Share	$ 0.31
Total distributions declared, amount per share	$ 0.31
Distributions Declared	927
Total distributions declared	927
August 8, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Amount Per Share	$ 0.31
Total distributions declared, amount per share	$ 0.31
Distributions Declared	930
Total distributions declared	930
November 7, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Amount Per Share	$ 0.47
Total distributions declared, amount per share	$ 0.47
Distributions Declared	1,415
Total distributions declared	1,415
December 21, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Amount Per Share	$ 0.36
Total distributions declared, amount per share	$ 0.36
Distributions Declared	1,089
Total distributions declared	1,089
March 14, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Amount Per Share		$ 0.31
Total distributions declared, amount per share		$ 0.31
Distributions Declared		546
Total distributions declared		546
May 9, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Amount Per Share		$ 0.31
Total distributions declared, amount per share		$ 0.31
Distributions Declared		582
Total distributions declared		582
August 11, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Amount Per Share		$ 0.31
Total distributions declared, amount per share		$ 0.31
Distributions Declared		616
Total distributions declared		616
November 8, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Amount Per Share		$ 0.31
Total distributions declared, amount per share		$ 0.31
Distributions Declared		619
Total distributions declared		619

Share Transactions - Schedule o

Share Transactions - Schedule of common stock issued pursuant to the dividend reinvestment plan (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Equity [Abstract]
Date Declared	Mar. 06, 2023	Dec. 27, 2021
Date Declared	May 09, 2023	Mar. 14, 2022
Date Declared	Aug. 08, 2023	May 09, 2022
Date Declared		Aug. 11, 2022
Date Declared	Nov. 07, 2023	Nov. 08, 2022
Record Date	Mar. 20, 2023	Dec. 31, 2021
Record Date	May 22, 2023	Mar. 22, 2022
Record Date	Aug. 22, 2023	May 27, 2022
Record Date	Nov. 20, 2023	Aug. 19, 2022
Record Date		Nov. 21, 2022
Payment Date	Mar. 31, 2023	Jan. 27, 2022
Payment Date	May 31, 2023	Mar. 29, 2022
Payment Date	Aug. 31, 2023	Jun. 03, 2022
Payment Date	Nov. 30, 2023	Sep. 08, 2022
Payment Date		Dec. 07, 2022
Shares Issued	9,874	19,884
Shares Issued	10,086	6,190
Shares Issued	10,096	7,685
Shares Issued	15,080	8,765
Shares Issued		9,127
Total shares issued	45,136	51,651

Earnings Per Share - Schedule O

Earnings Per Share - Schedule Of Earnings Per Share Basic And Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Increase in net assets resulting from operations per share - basic and diluted	$ 1,728	$ 3,328	$ 1,767	$ 281	$ (2,503)	$ (642)	$ (1,150)	$ 151	$ 332	$ 801	$ 892	$ 2,307	$ 7,104	$ (4,144)	$ 4,332
Weighted average shares of common stock outstanding - basic													2,821,046	1,926,620	1,710,840
Weighted average shares of common stock outstanding - diluted													2,821,046	1,926,620	1,710,840
Net increase (decrease) in net assets resulting from operations per share - basic													$ 2.52	$ (2.15)	$ 2.53
Net increase (decrease) in net assets resulting from operations per share - dilluted	$ 0.57	$ 1.11	$ 0.61	$ 0.12	$ (1.2)	$ (0.32)	$ (0.61)	$ 0.09	$ 0.19	$ 0.46	$ 0.52	$ 1.39	$ 2.52	$ (2.15)	$ 2.53

Income Tax - Summary of Increas

Income Tax - Summary of Increase in Net Assets Resulting from Operations to Undistributed Taxable Income (Details) - USD ($) $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Increase in net assets resulting from operations	$ 1,728	$ 3,328	$ 1,767	$ 281	$ (2,503)	$ (642)	$ (1,150)	$ 151	$ 332	$ 801	$ 892	$ 2,307	$ 7,104	$ (4,144)	$ 4,332
Net change in unrealized depreciation (appreciation) on investments													(4,027)	6,471	(125)
Other expenses not currently deductible													2,287	(7)	(113)
Other book-tax differences													0	(2)	(6)
Taxable Income													$ 5,364	$ 2,318	$ 4,088

Income Tax - Summary of Tax Cha

Income Tax - Summary of Tax Character of Distributions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Ordinary Income	$ 5,214	$ 2,317	$ 3,555
Capital Gain	0	47	490
Total	$ 5,214	$ 2,364	$ 4,045

Income Tax - Summary of Compone

Income Tax - Summary of Components of Distributable Earnings on Tax Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Undistributed net investment income	$ 151	$ 2
Other expenses not currently deductible	0	193
Net change in unrealized appreciation on investments and derivatives	(1,657)	(5,683)
Total distributable earnings	$ (1,506)	$ (5,488)

Income Tax (Additional Informat

Income Tax (Additional Information) (Details) - Federal Income Tax [Member] - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Operating Loss Carryforwards [Line Items]
Amortized cost of investment for income tax purposes	$ 135,332	$ 106,156
Net unrealized appreciation for income tax purposes	(1,657)	(5,683)
Unrealized appreciation	2,652	1,766
Unrealized depreciation	$ (4,309)	$ (7,449)

Financial Highlights - Schedule

Financial Highlights - Schedule of financial highlights (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended																				12 Months Ended
		Dec. 31, 2023		Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023		Dec. 31, 2022		Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022		Dec. 31, 2021		Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021		Dec. 31, 2019		Dec. 31, 2023		Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Investment Company, Financial Highlights [Line Items]
Net asset value, beginning of period		$ 22.79		$ 21.99	$ 21.7	$ 21.85	[1]	$ 23.35		$ 23.97	$ 24.89	$ 25.1	[1]	$ 26.32		$ 26.17	$ 25.95	$ 24.88	[1]	$ 25		$ 21.85	[1]	$ 25.1	[1]	$ 24.88	[1]	$ 25.11	[1]
Net investment income		0.65		0.47	0.32	0.36		0.37		0.31	0.31	0.32		0.31		0.31	0.31	0.32		0.01	[2]	1.83	[2]	1.32	[2]	1.24	[2]	1.03	[2]
Net increase (decrease) in net assets resulting from operations	[2]																			0.14		2.52		(2.01)		2.56		1.38
Distributions from net investment income	[3]																			(0.01)		(1.84)		(1.24)		(2.34)		(1.61)
Net decrease in net assets resulting from stockholder distributions	[3]																			(0.01)		(1.84)		(1.24)		(2.34)		(1.61)
Net asset value, end of period		$ 22.53	[1]	$ 22.79	$ 21.99	$ 21.7		$ 21.85	[1]	$ 23.35	$ 23.97	$ 24.89		$ 25.1	[1]	$ 26.32	$ 26.17	$ 25.95		$ 25.11	[1]	$ 22.53	[1]	$ 21.85	[1]	$ 25.1	[1]	$ 24.88	[1]
Shares outstanding, end of period		3,024,976						2,232,134						1,743,393						846,633		3,024,976		2,232,134		1,743,393		1,652,799
Total return based on net asset value	[4]																			0.50%		11.60%		4.50%		7.40%		4.20%
Net assets, end of period		$ 68,147						$ 48,772						$ 43,765						$ 21,255		$ 68,147		$ 48,772		$ 43,765		$ 41,119
Ratio of net investment income to average net assets	[5]																			0.20%		8.40%		5.30%		4.90%		4.10%
Ratio of total expenses to average net assets, excluding Expense Support Agreements	[6]																			30.10%		15.90%		12.40%		12.30%		12.40%
Ratio of net expenses to average net assets, including Expense Support Agreements	[5]																			5%		18.10%		14.10%		12.90%		9.10%
Average debt outstanding																				$ 3,043		$ 64,337		$ 55,148		$ 53,669		$ 26,357
Portfolio turnover																				9.80%		25%		31.70%		131.50%		83.90%
Total amount of senior securities outstanding		$ 71,000						$ 58,000						$ 55,000						$ 20,000		$ 71,000		$ 58,000		$ 55,000		$ 50,000
Asset coverage per unit	[7]																			2,063		1,960		1,841		1,796		1,822
Total committed capital, end of period																				$ 27,214		$ 68,490		$ 51,990		$ 41,759		$ 40,439
Ratio of total contributed capital to total committed capital, end of period																				77.80%		100%		100%		100%		99.30%
Net realized and unrealized gain loss Member
Investment Company, Financial Highlights [Line Items]
Net realized and unrealized gain	[8]																			$ 0.13		$ 0.69		$ (3.33)		$ 1.32		$ 0.35
[1] Represents the impact of different share amounts used in calculating per share data as a result of calculating certain per share data based on weighted average shares outstanding during the year or period and certain per share data on shares outstanding as of a year or period end or transaction date. The per share data was derived by using the weighted average shares outstanding during the period. The per share data for distributions reflects the actual amount of distributions paid during the period. Total return based on net asset value is calculated as the change in net asset value per share during the period, assuming dividends and distributions, if any, are reinvested in accordance with the Company’s dividend reinvestment plan divided by the beginning net asset value per share. Total return is not annualized. The computation of average net assets during the period is based on averaging net assets for the period reported. Ratio excludes the net expense support agreement amounts provided to or reimbursed by the Company during the period The computation of average net assets during the period is based on averaging net assets for the period reported. Ratio includes the net expense support agreement amounts provided to or reimbursed by the Company during the period Asset coverage per unit is the ratio of the carrying value of the Company’s consolidated total assets, less liabilities and indebtedness not represented by senior securities, to the aggregate amount of senior securities representing indebtedness. Asset coverage per unit is expressed in terms of dollar amounts per $1,000 of indebtedness and is calculated on a consolidated basis. The amount shown at this caption is the balancing figure derived from the other figures in the schedule. The amount shown at this caption is derived from total change in net asset value during the period and differs from the amount calculated using average shares because of the timing of issuances of the Company’s shares in relation to changes in net asset value during the period.

Selected Quarterly Financial _3

Selected Quarterly Financial Data (Unaudited) - Summary of Quarterly Results of Operations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended																	12 Months Ended
	Dec. 31, 2023		Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022		Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021		Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2019		Dec. 31, 2023		Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020		Oct. 02, 2019
Quarterly Financial Information Disclosure [Abstract]
Investment income	$ 4,577		$ 4,234	$ 3,994	$ 3,482	$ 3,108		$ 2,417	$ 1,890	$ 1,858	$ 1,954		$ 2,077	$ 2,056	$ 1,663			$ 16,287		$ 9,273		$ 7,750
Net expenses	2,604		2,821	3,063	2,628	2,329		1,795	1,306	1,300	1,417		1,539	1,520	1,148			11,116		6,730		5,624
Net investment income	1,973		1,413	931	854	779		622	584	558	537		538	536	515			5,171		2,543		2,126
Net realized and unrealized gain (loss)	(245)		1,915	836	(573)	(3,282)		(1,264)	(1,734)	(407)	(205)		263	356	1,792			1,933		(6,687)		2,206
Net increase (decrease) in net assets resulting from operations	$ 1,728		$ 3,328	$ 1,767	$ 281	$ (2,503)		$ (642)	$ (1,150)	$ 151	$ 332		$ 801	$ 892	$ 2,307			$ 7,104		$ (4,144)		$ 4,332
Net asset value per share as of the end of the quarter	$ 22.53	[1]	$ 22.79	$ 21.99	$ 21.7	$ 21.85	[1]	$ 23.35	$ 23.97	$ 24.89	$ 25.1	[1]	$ 26.32	$ 26.17	$ 25.95	$ 25.11	[1]	$ 22.53	[1]	$ 21.85	[1]	$ 25.1	[1]	$ 24.88	[1]	$ 25
Net investment income per share	0.65		0.47	0.32	0.36	0.37		0.31	0.31	0.32	0.31		0.31	0.31	0.32	$ 0.01	[2]	1.83	[2]	1.32	[2]	1.24	[2]	$ 1.03	[2]
Net increase in net assets resulting from operations per share	$ 0.57		$ 1.11	$ 0.61	$ 0.12	$ (1.2)		$ (0.32)	$ (0.61)	$ 0.09	$ 0.19		$ 0.46	$ 0.52	$ 1.39			$ 2.52		$ (2.15)		$ 2.53
[1] Represents the impact of different share amounts used in calculating per share data as a result of calculating certain per share data based on weighted average shares outstanding during the year or period and certain per share data on shares outstanding as of a year or period end or transaction date. The per share data was derived by using the weighted average shares outstanding during the period.

Commitments and Contingencies -

Commitments and Contingencies - Summary of Outstanding Commitments to Fund Investments in Current Portfolio Companies (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total Unfunded Portfolio Company Commitments	$ 6,562	$ 847
Accordion Partners LLC [Member] | Senior Secured Loan One [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total Unfunded Portfolio Company Commitments	1,632	0
AMCP PET HOLDINGS, INC. [Member] | Senior Secured Loan Two [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total Unfunded Portfolio Company Commitments	175	0
Beta Plus Technologies R/C [Member] | Senior Secured Loan Three [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total Unfunded Portfolio Company Commitments	473	525
Critical Nurse Staffing LLC [Member] | Senior Secured Loan Four [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total Unfunded Portfolio Company Commitments	0	258
Great Lakes II Funding LLC [Member] | Equity/Other [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total Unfunded Portfolio Company Commitments	11	0
Green Park M-1 Series [Member] | Equity/Other [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total Unfunded Portfolio Company Commitments	366	0
Morae Global Inc [Member] | Senior Secured Loan Six [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total Unfunded Portfolio Company Commitments	292	0
PhyNet Dermatology LLC [Member] | Senior Secured Loan Six [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total Unfunded Portfolio Company Commitments	1,713	0
Tactical Air Support, Inc [Member] | Senior Secured Loan Six [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total Unfunded Portfolio Company Commitments	571	0
Premier Imaging DD T/L (LucidHealth) [Member] | Senior Secured Loan Seven [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total Unfunded Portfolio Company Commitments	0	64
Tank Holding Corp [Member] | Senior Secured Loan Eight [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total Unfunded Portfolio Company Commitments	249	0
VBC Spine Opco LLC [Member] | Senior Secured Loan Nine [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total Unfunded Portfolio Company Commitments	$ 1,080	$ 0

Commitments and Contingencies_2

Commitments and Contingencies (Additional Information) (Details) - USD ($) $ in Millions	12 Months Ended		21 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Oct. 02, 2019
Long-Term Purchase Commitment [Line Items]
Operating expenses	$ 1.4	$ 1.5
Advisor [Member]
Long-Term Purchase Commitment [Line Items]
Offering costs	0.5		$ 1.4
Accrued organization costs	0.3
Operating expenses	$ 1.2		$ 1.2

Senior Securities Asset Cover_3

Senior Securities Asset Coverage - Schedule of Information about Senior Securities (Details) - USD ($) $ in Thousands		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Line of Credit Facility [Abstract]
Total Amount Outstanding	[1]	$ 71,000	$ 58,000	$ 55,000	$ 50,000	$ 20,000
Asset Coverage Per Unit	[2]	1,960	1,841	1,796	$ 1,822	$ 2,063
Involuntary Liquidating Preference Per Unit	[3]	$ 0	$ 0	$ 0
[1] Total amount of each class of senior securities outstanding at the end of the year or period presented. Asset coverage per unit is the ratio of the carrying value of the Company’s consolidated total assets, less all liabilities excluding indebtedness represented by senior securities in this table, to the aggregate amount of senior securities representing indebtedness. Asset coverage per unit is expressed in terms of dollar amounts per $ 1,000 of indebtedness and is calculated on a consolidated basis. The amount to which such class of senior security would be entitled upon our involuntary liquidation in preference to any security junior to it. The “—” in this column indicates information that the SEC expressly does not require to be disclosed for certain types of senior securities.

Senior Securities Asset Cover_4

Senior Securities Asset Coverage - Schedule of Information about Senior Securities (Parenthetical) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Line of Credit Facility [Abstract]
Asset coverage per unit measure per dollar	$ 1,000	$ 1,000	$ 1,000

Subsequent Events (Additional I

Subsequent Events (Additional Information) (Details) - $ / shares	Apr. 02, 2024	Mar. 11, 2024
Forecast
Subsequent Event [Line Items]
Dividends Payable, Amount Per Share	$ 0.6
Dividend Declared Date	Apr. 02, 2024
Subsequent Event
Subsequent Event [Line Items]
Dividend Declared Date		Mar. 11, 2024