Cover
Cover - shares | 6 Months Ended | |
Jun. 30, 2023 | Aug. 09, 2023 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2023 | |
Document Transition Report | false | |
Entity File Number | 814-01332 | |
Entity Registrant Name | Morgan Stanley Direct Lending Fund | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 84-2009506 | |
Entity Address, Address Line One | 1585 Broadway | |
Entity Address, City or Town | New York | |
Entity Address, State or Province | NY | |
Entity Address, Postal Zip Code | 10036 | |
City Area Code | 212 | |
Local Phone Number | 761-4000 | |
Title of 12(b) Security | None | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | true | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 72,018,634 | |
Entity Central Index Key | 0001782524 | |
Amendment Flag | false | |
No Trading Symbol Flag | true | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2023 | |
Current Fiscal Year End Date | --12-31 |
Consolidated Statements of Asse
Consolidated Statements of Assets and Liabilities - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 | ||
Assets | ||||
Non-controlled/non-affiliated investments, at fair value (amortized cost of $3,041,700 and $2,939,646 at June 30, 2023 and December 31, 2022, respectively) | $ 2,983,727 | [1],[2] | $ 2,873,588 | [3],[4] |
Cash | 52,850 | 81,215 | ||
Deferred financing costs | 10,110 | 7,624 | ||
Interest and dividend receivable from non-controlled/non-affiliated investments | 23,522 | 20,911 | ||
Subscription receivable | 0 | 2,556 | ||
Receivable for investments sold/repaid | 621 | 188 | ||
Prepaid expenses and other assets | 385 | 40 | ||
Total assets | 3,071,215 | 2,986,122 | ||
Liabilities | ||||
Debt (net of unamortized debt issuance costs of $6,741 and $7,899 at June 30, 2023 and December 31, 2022, respectively) | 1,554,744 | 1,523,475 | ||
Payable to affiliates | 2,086 | |||
Dividends payable | 41,037 | 33,058 | ||
Management fees payable | 1,862 | 1,783 | ||
Income based incentive fees payable | 10,138 | 8,118 | ||
Interest payable | 18,944 | 17,019 | ||
Accrued expenses and other liabilities | 3,497 | 3,278 | ||
Total liabilities | 1,631,214 | 1,588,817 | ||
Commitments and Contingencies (Note 7) | ||||
Net Assets | ||||
Common stock, par value $0.001 (100,000,000 shares authorized and 71,464,634 and 70,536,678 shares issued and outstanding as of June 30, 2023 and December 31, 2022, respectively) | 71 | 71 | ||
Paid-in capital in excess of par value | 1,470,602 | 1,452,013 | ||
Net distributable earnings (accumulated losses) | (30,672) | (54,779) | ||
Total net assets | 1,440,001 | 1,397,305 | ||
Total liabilities and net assets | $ 3,071,215 | $ 2,986,122 | ||
Net asset value per share (in dollars per share) | $ 20.15 | $ 19.81 | ||
Affiliated Entity | ||||
Liabilities | ||||
Payable to affiliates | $ 992 | |||
[1]Unless otherwise indicated, issuers of debt and equity investments held by the Company (where such term “Company” shall include the Company’s consolidated subsidiaries for purposes of this Consolidated Schedule of Investments) are denominated in dollars. All debt investments are income producing unless otherwise indicated. All equity investments are non-income producing unless otherwise noted. Certain portfolio company investments are subject to contractual restrictions on sales. Under the Investment Company Act of 1940, as amended (together with the rules and regulations promulgated thereunder, the “1940 Act”), the Company would be deemed to “control” a portfolio company if the Company owned more than 25% of its outstanding voting securities and/or held the power to exercise control over the management or policies of the portfolio company. As of June 30, 2023, the Company does not “control” any of these portfolio companies. Under the 1940 Act, the Company would be deemed an “affiliated person” of a portfolio company if the Company owns 5% or more of the portfolio company’s outstanding voting securities. As of June 30, 2023, the Company is not an “affiliated person” of any of its portfolio companies.[2]Unless otherwise indicated, the Company’s investments are pledged as collateral supporting the amounts outstanding under the Truist Credit Facility (as defined below). See Note 6 “Debt”.[3]Unless otherwise indicated, issuers of debt and equity investments held by the Company are denominated in dollars. All debt investments are income producing unless otherwise indicated. All equity investments are non-income producing unless otherwise noted. Certain portfolio company investments are subject to contractual restrictions on sales. Under the 1940 Act, the Company would be deemed to “control” a portfolio company if the Company owned more than 25% of its outstanding voting securities and/or held the power to exercise control over the management or policies of the portfolio company. As of December 31, 2022 the Company does not “control” any of these portfolio companies. Under the 1940 Act, the Company would be deemed an “affiliated person” of a portfolio company if the Company owns 5% or more of the portfolio company’s outstanding voting securities. As of December 31, 2022, the Company is not an “affiliated person” of any of its portfolio companies.[4]Unless otherwise indicated, the Company’s investments are pledged as collateral supporting the amounts outstanding under the Truist Credit Facility. See Note 6 “Debt”. |
Consolidated Statements of As_2
Consolidated Statements of Assets and Liabilities (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 | ||
Statement of Financial Position [Abstract] | ||||
Investments at amortized cost | $ 3,041,700 | [1],[2],[3] | $ 2,939,646 | [4],[5],[6] |
Unamortized debt issuance costs | $ 6,741 | $ 7,899 | ||
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 | ||
Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 | ||
Common stock, shares issued (in shares) | 71,464,634 | 70,536,678 | ||
Common stock, shares outstanding (in shares) | 71,464,634 | 70,536,678 | ||
[1]The cost represents the original cost adjusted for the amortization of discounts and premiums, as applicable, on debt investments using the effective interest method.[2]Unless otherwise indicated, issuers of debt and equity investments held by the Company (where such term “Company” shall include the Company’s consolidated subsidiaries for purposes of this Consolidated Schedule of Investments) are denominated in dollars. All debt investments are income producing unless otherwise indicated. All equity investments are non-income producing unless otherwise noted. Certain portfolio company investments are subject to contractual restrictions on sales. Under the Investment Company Act of 1940, as amended (together with the rules and regulations promulgated thereunder, the “1940 Act”), the Company would be deemed to “control” a portfolio company if the Company owned more than 25% of its outstanding voting securities and/or held the power to exercise control over the management or policies of the portfolio company. As of June 30, 2023, the Company does not “control” any of these portfolio companies. Under the 1940 Act, the Company would be deemed an “affiliated person” of a portfolio company if the Company owns 5% or more of the portfolio company’s outstanding voting securities. As of June 30, 2023, the Company is not an “affiliated person” of any of its portfolio companies.[3]Unless otherwise indicated, the Company’s investments are pledged as collateral supporting the amounts outstanding under the Truist Credit Facility (as defined below). See Note 6 “Debt”.[4]The cost represents the original cost adjusted for the amortization of discounts and premiums, as applicable, on debt investments using the effective interest method.[5]Unless otherwise indicated, issuers of debt and equity investments held by the Company are denominated in dollars. All debt investments are income producing unless otherwise indicated. All equity investments are non-income producing unless otherwise noted. Certain portfolio company investments are subject to contractual restrictions on sales. Under the 1940 Act, the Company would be deemed to “control” a portfolio company if the Company owned more than 25% of its outstanding voting securities and/or held the power to exercise control over the management or policies of the portfolio company. As of December 31, 2022 the Company does not “control” any of these portfolio companies. Under the 1940 Act, the Company would be deemed an “affiliated person” of a portfolio company if the Company owns 5% or more of the portfolio company’s outstanding voting securities. As of December 31, 2022, the Company is not an “affiliated person” of any of its portfolio companies.[6]Unless otherwise indicated, the Company’s investments are pledged as collateral supporting the amounts outstanding under the Truist Credit Facility. See Note 6 “Debt”. |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Investment Income: | ||||
Interest income | $ 86,573 | $ 48,463 | $ 168,290 | $ 91,178 |
Payment-in-kind interest income | 622 | 277 | 1,063 | 549 |
Dividend income | 504 | 232 | 1,000 | 541 |
Other income | 1,195 | 1,022 | 2,180 | 2,030 |
Total investment income | 88,894 | 49,994 | 172,533 | 94,298 |
Expenses: | ||||
Interest expense and other financing expenses | 27,907 | 13,781 | 54,574 | 24,130 |
Management fees | 7,446 | 6,536 | 14,750 | 12,718 |
Income based incentive fees | 10,138 | 5,879 | 19,519 | 11,345 |
Capital gains incentive fees | 0 | (1,694) | 0 | (2,441) |
Professional fees | 847 | 776 | 2,088 | 1,400 |
Directors’ fees | 88 | 88 | 168 | 175 |
Administrative service fees | 60 | 54 | 114 | 70 |
General and other expenses | 197 | 67 | 365 | 477 |
Total expenses | 46,683 | 25,487 | 91,578 | 47,874 |
Expense support (Note 3) | 0 | 0 | 0 | 39 |
Management fees waiver (Note 3) | (5,584) | (4,902) | (11,062) | (9,539) |
Net expenses | 41,099 | 20,585 | 80,516 | 38,374 |
Net investment income (loss) | 47,795 | 29,409 | 92,017 | 55,924 |
Net realized and unrealized gain (loss) on investment transactions: | ||||
Net realized gain (loss) on non-controlled/non-affiliated investments | 0 | 465 | 122 | 538 |
Net change in unrealized appreciation (depreciation) on non-controlled/non-affiliated investments | 8,647 | (33,137) | 8,080 | (37,479) |
Net realized and unrealized gain (loss) | 8,647 | (32,672) | 8,202 | (36,941) |
Net increase (decrease) in net assets resulting from operations | $ 56,442 | $ (3,263) | $ 100,219 | $ 18,983 |
Per share information—basic and diluted | ||||
Net investment income (loss) per share (in dollars per share) | $ 0.67 | $ 0.50 | $ 1.29 | $ 0.96 |
Earnings (loss) per share - basic (in dollars per share) | 0.79 | (0.06) | 1.41 | 0.33 |
Earnings (loss) per share - diluted (in dollars per share) | $ 0.79 | $ (0.06) | $ 1.41 | $ 0.33 |
Weighted average shares outstanding - basic (Note 9) (in shares) | 71,337,323 | 59,227,774 | 71,101,563 | 58,170,368 |
Weighted average shares outstanding - diluted (Note 9) (in shares) | 71,337,323 | 59,227,774 | 71,101,563 | 58,170,368 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Net Assets (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Investment Company, Net Assets [Roll Forward] | ||||
Net assets at beginning of period | $ 1,414,596 | $ 1,397,305 | $ 1,188,587 | |
Increase (decrease) in net assets resulting from operations: | ||||
Net investment income (loss) | 47,795 | $ 29,409 | 92,017 | 55,924 |
Net realized gain (loss) | 0 | 465 | 122 | 538 |
Net change in unrealized appreciation (depreciation) | 8,647 | (33,137) | 8,080 | (37,479) |
Net increase (decrease) in net assets resulting from operations | 56,442 | (3,263) | 100,219 | 18,983 |
Capital transactions: | ||||
Issuance of common stock | 0 | 74,866 | 0 | 74,866 |
Reinvestment of dividends | 9,698 | 6,964 | 18,589 | 14,504 |
Dividends declared | (40,735) | (28,601) | (76,112) | (56,056) |
Net increase (decrease) in net assets resulting from capital transactions | (31,037) | 53,229 | (57,523) | 33,314 |
Total increase (decrease) in net assets | 25,405 | 49,966 | 42,696 | 52,297 |
Net assets at end of period | $ 1,440,001 | $ 1,240,884 | $ 1,440,001 | $ 1,240,884 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Cash flows from operating activities: | |||||
Net increase (decrease) in net assets resulting from operations | $ 56,442 | $ (3,263) | $ 100,219 | $ 18,983 | |
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities: | |||||
Net unrealized (appreciation) depreciation on investments | (8,647) | 33,137 | (8,080) | 37,479 | |
Net realized (gain) loss on investments | 0 | (465) | (122) | (538) | |
Net accretion of discount and amortization of premium on investments | (5,146) | (5,307) | |||
Payment-in-kind interest and dividend capitalized | (2,060) | (1,171) | |||
Amortization of deferred financing costs | 1,498 | 2,001 | |||
Amortization of debt issuance costs and original issue discount on Unsecured Notes | 1,264 | 507 | |||
Purchases of investments and change in payable for investments purchased | (222,612) | (555,727) | |||
Proceeds from sale of investments and principal repayments and change in receivable for investments sold/repaid | 127,453 | 245,160 | |||
Changes in operating assets and liabilities: | |||||
(Increase) decrease in interest and dividend receivable from non-controlled/non-affiliated investments | (2,611) | (2,148) | |||
(Increase) decrease in prepaid expenses and other assets | (345) | 55 | |||
(Decrease) increase in payable to affiliates | (1,094) | (2,229) | |||
(Decrease) increase in management fees payable | 79 | 328 | |||
(Decrease) increase in incentive fees payable | 2,020 | (2,780) | |||
(Decrease) increase in interest payable | 1,925 | 7,554 | |||
(Decrease) increase in accrued expenses and other liabilities | 174 | 57 | |||
Net cash provided by (used in) operating activities | (7,438) | (257,776) | |||
Cash flows from financing activities: | |||||
Borrowings on debt | 60,000 | 888,929 | |||
Repayments on debt | (30,000) | (657,000) | |||
Deferred financing costs paid | (3,939) | (2,448) | |||
Debt issuance costs paid | 0 | (5,132) | |||
Dividends paid in cash | (49,544) | (42,539) | |||
Proceeds from issuance of common stock | 2,556 | 82,660 | |||
Net cash provided by (used in) financing activities | (20,927) | 264,470 | |||
Net increase (decrease) in cash | (28,365) | 6,694 | |||
Cash, beginning of period | 81,215 | 74,153 | $ 74,153 | ||
Cash, end of period | $ 52,850 | $ 80,847 | 52,850 | 80,847 | $ 81,215 |
Supplemental information and non-cash activities: | |||||
Excise tax paid | 361 | 57 | |||
Interest expense paid | 49,887 | 12,676 | |||
Dividend reinvestment paid | 18,589 | 14,504 | |||
Subscriptions receivable | 0 | 56 | |||
Accrued but unpaid dividends | 41,037 | 28,704 | |||
Accrued but unpaid debt issuance costs | $ 0 | $ 410 |
Consolidated Schedule of Invest
Consolidated Schedule of Investments - USD ($) | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2023 | Dec. 31, 2022 | ||||
Cost | $ 3,041,700,000 | [1],[2],[3] | $ 2,939,646,000 | [4],[5],[6] | |
Fair Value | $ 2,983,727,000 | [2],[3] | $ 2,873,588,000 | [5],[6] | |
Percentage of Net Assets | 207.20% | [2],[3] | 205.65% | [5],[6] | |
Unused Fee Rate | 0.375% | ||||
Euro Interbank Offered Rate (EURIBOR) | |||||
Variable interest rate | 3.58% | 2.13% | |||
London Interbank Offered Rate (LIBOR) | 1-month Period | |||||
Variable interest rate | 5.22% | 4.39% | |||
London Interbank Offered Rate (LIBOR) | 3-month Period | |||||
Variable interest rate | 5.55% | 4.77% | |||
London Interbank Offered Rate (LIBOR) | 6-month Period | |||||
Variable interest rate | 5.76% | 5.14% | |||
Secured Overnight Financing Rate (SOFR) | 1-month Period | |||||
Variable interest rate | 5.14% | 4.36% | |||
Secured Overnight Financing Rate (SOFR) | 3-month Period | |||||
Variable interest rate | 5.27% | 4.59% | |||
Secured Overnight Financing Rate (SOFR) | 6-month Period | |||||
Variable interest rate | 5.39% | 4.78% | |||
Prime Rate | |||||
Variable interest rate | 8.25% | 7.50% | |||
First Lien Debt | |||||
Cost | $ 2,845,602,000 | [1] | $ 2,753,620,000 | [4] | |
Fair Value | $ 2,798,179,000 | $ 2,694,111,000 | |||
Percentage of Net Assets | 194.32% | 192.81% | |||
First Lien Debt | Aerospace & Defense | |||||
Cost | $ 52,329,000 | [1] | $ 52,520,000 | [4] | |
Fair Value | $ 51,925,000 | $ 51,531,000 | |||
Percentage of Net Assets | 3.61% | 3.69% | |||
First Lien Debt | Air Freight & Logistics | |||||
Cost | $ 29,463,000 | [1] | $ 28,736,000 | [4] | |
Fair Value | $ 29,005,000 | $ 27,943,000 | |||
Percentage of Net Assets | 2.01% | 2% | |||
First Lien Debt | Automobile Components | |||||
Cost | $ 86,943,000 | [1] | $ 86,480,000 | [4] | |
Fair Value | $ 84,817,000 | $ 83,574,000 | |||
Percentage of Net Assets | 5.89% | 5.98% | |||
First Lien Debt | Automobiles | |||||
Cost | $ 153,783,000 | [1] | $ 150,144,000 | [4] | |
Fair Value | $ 152,201,000 | $ 146,413,000 | |||
Percentage of Net Assets | 10.57% | 10.48% | |||
First Lien Debt | Biotechnology | |||||
Cost | $ 14,767,000 | [1] | $ 14,830,000 | [4] | |
Fair Value | $ 14,588,000 | $ 14,407,000 | |||
Percentage of Net Assets | 1.01% | 1.03% | |||
First Lien Debt | Chemicals | |||||
Cost | $ 20,944,000 | [1] | $ 18,797,000 | [4] | |
Fair Value | $ 20,517,000 | $ 18,066,000 | |||
Percentage of Net Assets | 1.42% | 1.29% | |||
First Lien Debt | Commercial Services & Supplies | |||||
Cost | $ 316,205,000 | [1] | $ 325,020,000 | [4] | |
Fair Value | $ 314,538,000 | $ 319,508,000 | |||
Percentage of Net Assets | 21.84% | 22.87% | |||
First Lien Debt | Construction & Engineering | |||||
Cost | $ 44,963,000 | [1] | $ 37,932,000 | [4] | |
Fair Value | $ 44,243,000 | $ 36,734,000 | |||
Percentage of Net Assets | 3.07% | 2.63% | |||
First Lien Debt | Containers & Packaging | |||||
Cost | $ 43,769,000 | [1] | $ 43,852,000 | [4] | |
Fair Value | $ 43,275,000 | $ 42,522,000 | |||
Percentage of Net Assets | 3.01% | 3.04% | |||
First Lien Debt | Distributors | |||||
Cost | $ 89,630,000 | [1] | $ 122,968,000 | [4] | |
Fair Value | $ 86,380,000 | $ 120,982,000 | |||
Percentage of Net Assets | 6% | 8.66% | |||
First Lien Debt | Diversified Consumer Services | |||||
Cost | $ 104,157,000 | [1] | $ 88,142,000 | [4] | |
Fair Value | $ 102,188,000 | $ 87,147,000 | |||
Percentage of Net Assets | 7.10% | 6.24% | |||
First Lien Debt | Financial Services | |||||
Cost | $ 17,242,000 | [1] | $ 19,820,000 | [4] | |
Fair Value | $ 17,220,000 | $ 19,586,000 | |||
Percentage of Net Assets | 1.20% | 1.40% | |||
First Lien Debt | Electronic Equipment, Instruments & Components | |||||
Cost | $ 25,879,000 | [1] | $ 13,448,000 | [4] | |
Fair Value | $ 25,750,000 | $ 12,892,000 | |||
Percentage of Net Assets | 1.79% | 0.92% | |||
First Lien Debt | Food Products | |||||
Cost | $ 79,201,000 | [1] | $ 72,622,000 | [4] | |
Fair Value | $ 78,128,000 | $ 70,996,000 | |||
Percentage of Net Assets | 5.43% | 5.08% | |||
First Lien Debt | Health Care Equipment & Supplies | |||||
Cost | [1] | $ 13,051,000 | |||
Fair Value | $ 12,937,000 | ||||
Percentage of Net Assets | 0.90% | ||||
First Lien Debt | Health Care Providers & Services | |||||
Cost | $ 105,535,000 | [1] | $ 90,686,000 | [4] | |
Fair Value | $ 104,237,000 | $ 88,460,000 | |||
Percentage of Net Assets | 7.24% | 6.33% | |||
First Lien Debt | Health Care Technology | |||||
Cost | $ 22,206,000 | [1] | $ 21,467,000 | [4] | |
Fair Value | $ 22,378,000 | $ 21,148,000 | |||
Percentage of Net Assets | 1.55% | 1.51% | |||
First Lien Debt | Industrial Conglomerates | |||||
Cost | $ 33,671,000 | [1] | $ 1,666,000 | [4] | |
Fair Value | $ 33,980,000 | $ 1,612,000 | |||
Percentage of Net Assets | 2.36% | 0.12% | |||
First Lien Debt | Insurance Services | |||||
Cost | $ 465,748,000 | [1] | $ 455,293,000 | [4] | |
Fair Value | $ 456,110,000 | $ 446,804,000 | |||
Percentage of Net Assets | 31.67% | 31.98% | |||
First Lien Debt | Interactive Media & Services | |||||
Cost | $ 104,495,000 | [1] | $ 103,429,000 | [4] | |
Fair Value | $ 101,521,000 | $ 101,077,000 | |||
Percentage of Net Assets | 7.05% | 7.23% | |||
First Lien Debt | IT Services | |||||
Cost | $ 231,685,000 | [1] | $ 230,561,000 | [4] | |
Fair Value | $ 221,164,000 | $ 223,366,000 | |||
Percentage of Net Assets | 15.36% | 15.99% | |||
First Lien Debt | Leisure Products | |||||
Cost | $ 21,639,000 | [1] | $ 21,726,000 | [4] | |
Fair Value | $ 20,789,000 | $ 21,557,000 | |||
Percentage of Net Assets | 1.44% | 1.54% | |||
First Lien Debt | Machinery | |||||
Cost | $ 82,573,000 | [1] | $ 88,999,000 | [4] | |
Fair Value | $ 80,745,000 | $ 85,464,000 | |||
Percentage of Net Assets | 5.61% | 6.12% | |||
First Lien Debt | Multi-Utilities | |||||
Cost | $ 18,623,000 | [1] | $ 16,427,000 | [4] | |
Fair Value | $ 18,483,000 | $ 16,228,000 | |||
Percentage of Net Assets | 1.28% | 1.16% | |||
First Lien Debt | Oil, Gas & Consumable Fuels | |||||
Cost | [4] | $ 399,000 | |||
Fair Value | $ 390,000 | ||||
Percentage of Net Assets | 0.03% | ||||
First Lien Debt | Pharmaceuticals | |||||
Cost | $ 11,555,000 | [1] | $ 11,157,000 | [4] | |
Fair Value | $ 11,683,000 | $ 11,157,000 | |||
Percentage of Net Assets | 0.81% | 0.80% | |||
First Lien Debt | Professional Services | |||||
Cost | $ 97,387,000 | [1] | $ 89,714,000 | [4] | |
Fair Value | $ 97,353,000 | $ 88,770,000 | |||
Percentage of Net Assets | 6.76% | 6.35% | |||
First Lien Debt | Real Estate Management & Development | |||||
Cost | $ 161,092,000 | [1] | $ 155,654,000 | [4] | |
Fair Value | $ 159,636,000 | $ 152,029,000 | |||
Percentage of Net Assets | 11.09% | 10.88% | |||
First Lien Debt | Software | |||||
Cost | $ 397,067,000 | [1] | $ 381,883,000 | [4] | |
Fair Value | $ 392,388,000 | $ 374,792,000 | |||
Percentage of Net Assets | 27.25% | 26.82% | |||
Second Lien Debt | |||||
Cost | $ 145,602,000 | [1] | $ 136,620,000 | [4] | |
Fair Value | $ 131,741,000 | $ 128,350,000 | |||
Percentage of Net Assets | 9.15% | 9.19% | |||
Second Lien Debt | Electronic Equipment, Instruments & Components | |||||
Cost | [4] | $ 16,939,000 | |||
Fair Value | $ 16,194,000 | ||||
Percentage of Net Assets | 1.16% | ||||
Second Lien Debt | Health Care Providers & Services | |||||
Cost | $ 5,412,000 | [1] | $ 5,318,000 | [4] | |
Fair Value | $ 5,293,000 | $ 4,946,000 | |||
Percentage of Net Assets | 0.37% | 0.35% | |||
Second Lien Debt | IT Services | |||||
Cost | $ 40,053,000 | [1] | $ 40,016,000 | [4] | |
Fair Value | $ 35,657,000 | $ 37,735,000 | |||
Percentage of Net Assets | 2.48% | 2.70% | |||
Second Lien Debt | Software | |||||
Cost | $ 23,790,000 | [1] | $ 23,770,000 | [4] | |
Fair Value | $ 20,657,000 | $ 22,341,000 | |||
Percentage of Net Assets | 1.43% | 1.60% | |||
Other Securities | |||||
Cost | $ 50,496,000 | [1] | $ 49,406,000 | [4] | |
Fair Value | $ 53,807,000 | $ 51,127,000 | |||
Percentage of Net Assets | 3.74% | 3.66% | |||
Unsecured debt | |||||
Cost | $ 3,366,000 | [1] | $ 3,326,000 | [4] | |
Fair Value | $ 2,469,000 | $ 2,198,000 | |||
Percentage of Net Assets | 0.17% | 0.16% | |||
Preferred equity | |||||
Cost | $ 18,828,000 | [1] | $ 17,869,000 | [4] | |
Fair Value | $ 18,881,000 | $ 17,039,000 | |||
Percentage of Net Assets | 1.31% | 1.22% | |||
Common equity | |||||
Cost | $ 28,302,000 | [1] | $ 28,211,000 | [4] | |
Fair Value | $ 32,457,000 | $ 31,890,000 | |||
Percentage of Net Assets | 2.25% | 2.28% | |||
Unfunded Debt Securities | |||||
Unfunded Commitment | $ 245,557,000 | $ 314,251,000 | |||
Fair Value | (6,500,000) | (10,260,000) | |||
Unfunded Debt Securities, First Lien | |||||
Unfunded Commitment | 245,557,000 | 305,663,000 | |||
Fair Value | $ (6,500,000) | (9,984,000) | |||
Unfunded Debt Securities, Second Lien | |||||
Unfunded Commitment | 8,588,000 | ||||
Fair Value | $ (276,000) | ||||
Non Qualifying Assets | Assets, Total | Customer Concentration Risk | |||||
% of Total Investments at Fair Value | 6.68% | 7.10% | |||
Restricted Securities | |||||
Fair Value | $ 51,338,000 | $ 48,929,000 | |||
Percentage of Net Assets | 3.57% | 3.50% | |||
Investment, Identifier [Axis]: 365 Retail Markets, LLC | |||||
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 2,800,000 | $ 1,200,000 | |||
Fair Value | $ (11,000) | $ (27,000) | |||
Investment, Identifier [Axis]: 365 Retail Markets, LLC 1 | |||||
Variable interest rate | 4.75% | [7],[8] | 4.75% | [9],[10] | |
Interest Rate | 9.93% | [7],[8],[11] | 8.45% | [9],[10],[12] | |
Par Amount | $ 17,193,000 | [7],[8] | $ 17,280,000 | [9],[10] | |
Cost | 16,983,000 | [1],[7],[8] | 17,045,000 | [4],[9],[10] | |
Fair Value | $ 17,122,000 | [7],[8] | $ 16,890,000 | [9],[10] | |
Percentage of Net Assets | 1.19% | [7],[8] | 1.21% | [9],[10] | |
Investment, Identifier [Axis]: 365 Retail Markets, LLC 2 | |||||
Variable interest rate | 4.75% | [7],[8] | 4.75% | [9],[10] | |
Interest Rate | 9.93% | [7],[8],[11] | 8.45% | [9],[10],[12] | |
Par Amount | $ 5,516,000 | [7],[8] | $ 5,543,000 | [9],[10] | |
Cost | 5,463,000 | [1],[7],[8] | 5,484,000 | [4],[9],[10] | |
Fair Value | $ 5,493,000 | [7],[8] | $ 5,418,000 | [9],[10] | |
Percentage of Net Assets | 0.38% | [7],[8] | 0.39% | [9],[10] | |
Investment, Identifier [Axis]: 365 Retail Markets, LLC 3 | |||||
Variable interest rate | 4.75% | [7],[8],[13] | 4.75% | [9],[10],[14] | |
Interest Rate | 9.93% | [7],[8],[11],[13] | 8.45% | [9],[10],[12],[14] | |
Par Amount | $ 0 | [7],[8],[13] | $ 1,600,000 | [9],[10],[14] | |
Cost | (32,000) | [1],[7],[8],[13] | 1,563,000 | [4],[9],[10],[14] | |
Fair Value | $ (11,000) | [7],[8],[13] | $ 1,537,000 | [9],[10],[14] | |
Percentage of Net Assets | 0% | [7],[8],[13] | 0.11% | [9],[10],[14] | |
Investment, Identifier [Axis]: 48Forty Solutions LLC | |||||
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 2,715,000 | ||||
Fair Value | $ (139,000) | ||||
Investment, Identifier [Axis]: 48Forty Solutions LLC 1 | |||||
Variable interest rate | [9],[10] | 6% | |||
Interest Rate | [9],[10],[12] | 10.26% | |||
Par Amount | [9],[10] | $ 1,796,000 | |||
Cost | [4],[9],[10] | 1,728,000 | |||
Fair Value | [9],[10] | $ 1,732,000 | |||
Percentage of Net Assets | [9],[10] | 0.12% | |||
Investment, Identifier [Axis]: 48Forty Solutions LLC 2 | |||||
Variable interest rate | [9],[10],[15] | 5.50% | |||
Interest Rate | [9],[10],[12],[15] | 9.76% | |||
Par Amount | [9],[10],[15] | $ 16,106,000 | |||
Cost | [4],[9],[10],[15] | 15,825,000 | |||
Fair Value | [9],[10],[15] | $ 15,283,000 | |||
Percentage of Net Assets | [9],[10],[15] | 1.09% | |||
Investment, Identifier [Axis]: 48Forty Solutions LLC 3 | |||||
Variable interest rate | [9],[10],[14] | 5.50% | |||
Interest Rate | [9],[10],[12],[14] | 9.76% | |||
Par Amount | [9],[10],[14] | $ 0 | |||
Cost | [4],[9],[10],[14] | (46,000) | |||
Fair Value | [9],[10],[14] | $ (139,000) | |||
Percentage of Net Assets | [9],[10],[14] | (0.01%) | |||
Investment, Identifier [Axis]: 48Forty Solutions, LLC | |||||
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 2,172,000 | ||||
Fair Value | $ (50,000) | ||||
Investment, Identifier [Axis]: 48Forty Solutions, LLC 1 | |||||
Variable interest rate | [7],[8],[16] | 5.75% | |||
Interest Rate | [7],[8],[11],[16] | 11.04% | |||
Par Amount | [7],[8],[16] | $ 17,812,000 | |||
Cost | [1],[7],[8],[16] | 17,512,000 | |||
Fair Value | [7],[8],[16] | $ 17,404,000 | |||
Percentage of Net Assets | [7],[8],[16] | 1.21% | |||
Investment, Identifier [Axis]: 48Forty Solutions, LLC 2 | |||||
Variable interest rate | [7],[8],[13] | 5.75% | |||
Interest Rate | [7],[8],[11],[13] | 11.04% | |||
Par Amount | [7],[8],[13] | $ 543,000 | |||
Cost | [1],[7],[8],[13] | 503,000 | |||
Fair Value | [7],[8],[13] | $ 481,000 | |||
Percentage of Net Assets | [7],[8],[13] | 0.03% | |||
Investment, Identifier [Axis]: ABB Concise Optical Group, LLC | |||||
Variable interest rate | [8],[17] | 7.50% | |||
Interest Rate | [8],[11],[17] | 12.88% | |||
Par Amount | [8],[17] | $ 16,965,000 | |||
Cost | [1],[8],[17] | 16,615,000 | |||
Fair Value | [8],[17] | $ 15,474,000 | |||
Percentage of Net Assets | [8],[17] | 1.07% | |||
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 94,000 | ||||
Fair Value | $ (4,000) | ||||
Investment, Identifier [Axis]: ABB Concise Optical Group, LLC 1 | |||||
Variable interest rate | [10],[18] | 7.50% | |||
Interest Rate | [10],[12],[18] | 12.67% | |||
Par Amount | [10],[18] | $ 17,977,000 | |||
Cost | [4],[10],[18] | 17,578,000 | |||
Fair Value | [10],[18] | $ 17,165,000 | |||
Percentage of Net Assets | [10],[18] | 1.23% | |||
Investment, Identifier [Axis]: ABB Concise Optical Group, LLC 2 | |||||
Variable interest rate | [10],[14],[18] | 6.50% | |||
Interest Rate | [10],[12],[14],[18] | 13.99% | |||
Par Amount | [10],[14],[18] | $ 1,792,000 | |||
Cost | [4],[10],[14],[18] | 1,752,000 | |||
Fair Value | [10],[14],[18] | $ 1,707,000 | |||
Percentage of Net Assets | [10],[14],[18] | 0.12% | |||
Investment, Identifier [Axis]: AGI-CFI Holdings, Inc. | |||||
Variable interest rate | 6% | [8],[17] | 5.75% | [10],[18] | |
Interest Rate | 11.24% | [8],[11],[17] | 10.48% | [10],[12],[18] | |
Par Amount | $ 14,335,000 | [8],[17] | $ 14,408,000 | [10],[18] | |
Cost | 14,094,000 | [1],[8],[17] | 14,140,000 | [4],[10],[18] | |
Fair Value | $ 14,021,000 | [8],[17] | $ 13,851,000 | [10],[18] | |
Percentage of Net Assets | 0.97% | [8],[17] | 0.99% | [10],[18] | |
Investment, Identifier [Axis]: AMCP Pet Holdings, Inc. (Brightpet) | |||||
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 1,458,000 | ||||
Fair Value | $ (23,000) | ||||
Investment, Identifier [Axis]: AMCP Pet Holdings, Inc. (Brightpet) 1 | |||||
Variable interest rate | 7% | [7],[8],[16] | 6.25% | [9],[10],[15] | |
Interest rate, PIK | [7],[8],[16] | 0.75% | |||
Interest Rate | 12.83% | [7],[8],[11],[16] | 10.98% | [9],[10],[12],[15] | |
Par Amount | $ 25,563,000 | [7],[8],[16] | $ 17,150,000 | [9],[10],[15] | |
Cost | 24,997,000 | [1],[7],[8],[16] | 16,798,000 | [4],[9],[10],[15] | |
Fair Value | $ 25,041,000 | [7],[8],[16] | $ 16,795,000 | [9],[10],[15] | |
Percentage of Net Assets | 1.74% | [7],[8],[16] | 1.20% | [9],[10],[15] | |
Investment, Identifier [Axis]: AMCP Pet Holdings, Inc. (Brightpet) 2 | |||||
Variable interest rate | 7% | [7],[8] | 6.25% | [9],[10] | |
Interest rate, PIK | [7],[8] | 0.75% | |||
Interest Rate | 12.83% | [7],[8],[11] | 10.98% | [9],[10],[12] | |
Par Amount | $ 16,250,000 | [7],[8] | $ 16,333,000 | [9],[10] | |
Cost | 15,945,000 | [1],[7],[8] | 15,989,000 | [4],[9],[10] | |
Fair Value | $ 15,995,000 | [7],[8] | $ 15,995,000 | [9],[10] | |
Percentage of Net Assets | 1.11% | [7],[8] | 1.14% | [9],[10] | |
Investment, Identifier [Axis]: AMCP Pet Holdings, Inc. (Brightpet) 3 | |||||
Variable interest rate | 7% | [7],[8],[13] | 6.25% | [9],[10] | |
Interest rate, PIK | [7],[8],[13] | 0.75% | |||
Interest Rate | 12.83% | [7],[8],[11],[13] | 10.98% | [9],[10],[12] | |
Par Amount | $ 4,375,000 | [7],[8],[13] | $ 5,833,000 | [9],[10] | |
Cost | 4,278,000 | [1],[7],[8],[13] | 5,721,000 | [4],[9],[10] | |
Fair Value | $ 4,283,000 | [7],[8],[13] | $ 5,713,000 | [9],[10] | |
Percentage of Net Assets | 0.30% | [7],[8],[13] | 0.41% | [9],[10] | |
Investment, Identifier [Axis]: ARI Network Services, Inc. | |||||
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 1,273,000 | $ 2,121,000 | |||
Fair Value | $ (21,000) | $ (60,000) | |||
Investment, Identifier [Axis]: ARI Network Services, Inc. 1 | |||||
Variable interest rate | 5.25% | [8],[16],[17] | 5.50% | [10],[15],[18] | |
Interest Rate | 10.45% | [8],[11],[16],[17] | 9.92% | [10],[12],[15],[18] | |
Par Amount | $ 20,617,000 | [8],[16],[17] | $ 20,723,000 | [10],[15],[18] | |
Cost | 20,416,000 | [1],[8],[16],[17] | 20,465,000 | [4],[10],[15],[18] | |
Fair Value | $ 20,283,000 | [8],[16],[17] | $ 20,134,000 | [10],[15],[18] | |
Percentage of Net Assets | 1.41% | [8],[16],[17] | 1.44% | [10],[15],[18] | |
Investment, Identifier [Axis]: ARI Network Services, Inc. 2 | |||||
Variable interest rate | 5.25% | [8],[16],[17] | 5.50% | [10],[15],[18] | |
Interest Rate | 10.45% | [8],[11],[16],[17] | 9.92% | [10],[12],[15],[18] | |
Par Amount | $ 3,612,000 | [8],[16],[17] | $ 3,630,000 | [10],[15],[18] | |
Cost | 3,577,000 | [1],[8],[16],[17] | 3,586,000 | [4],[10],[15],[18] | |
Fair Value | $ 3,554,000 | [8],[16],[17] | $ 3,527,000 | [10],[15],[18] | |
Percentage of Net Assets | 0.25% | [8],[16],[17] | 0.25% | [10],[15],[18] | |
Investment, Identifier [Axis]: ARI Network Services, Inc. 3 | |||||
Variable interest rate | 5.25% | [8],[13],[17] | 5.50% | [10],[14] | |
Interest Rate | 10.45% | [8],[11],[13],[17] | 9.92% | [10],[12],[14] | |
Par Amount | $ 1,757,000 | [8],[13],[17] | $ 909,000 | [10],[14] | |
Cost | 1,730,000 | [1],[8],[13],[17] | 873,000 | [4],[10],[14] | |
Fair Value | $ 1,708,000 | [8],[13],[17] | $ 823,000 | [10],[14] | |
Percentage of Net Assets | 0.12% | [8],[13],[17] | 0.06% | [10],[14],[18] | |
Investment, Identifier [Axis]: AWP Group Holdings, Inc. | |||||
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 130,000 | $ 104,000 | |||
Fair Value | $ (8,000) | $ (3,000) | |||
Investment, Identifier [Axis]: AWP Group Holdings, Inc. 1 | |||||
Variable interest rate | 4.75% | [7],[8],[16] | 4.75% | [9],[10],[15] | |
Interest Rate | 9.84% | [7],[8],[11],[16] | 9.38% | [9],[10],[12],[15] | |
Par Amount | $ 3,087,000 | [7],[8],[16] | $ 1,021,000 | [9],[10],[15] | |
Cost | 2,946,000 | [1],[7],[8],[16] | 1,010,000 | [4],[9],[10],[15] | |
Fair Value | $ 2,892,000 | [7],[8],[16] | $ 991,000 | [9],[10],[15] | |
Percentage of Net Assets | 0.20% | [7],[8],[16] | 0.07% | [9],[10],[15] | |
Investment, Identifier [Axis]: AWP Group Holdings, Inc. 2 | |||||
Variable interest rate | 4.75% | [7],[8],[13] | 4.75% | [9],[10] | |
Interest Rate | 9.84% | [7],[8],[11],[13] | 9.41% | [9],[10],[12] | |
Par Amount | $ 28,000 | [7],[8],[13] | $ 131,000 | [9],[10] | |
Cost | 26,000 | [1],[7],[8],[13] | 130,000 | [4],[9],[10] | |
Fair Value | $ 18,000 | [7],[8],[13] | $ 127,000 | [9],[10] | |
Percentage of Net Assets | 0% | [7],[8],[13] | 0.01% | [9],[10] | |
Investment, Identifier [Axis]: AWP Group Holdings, Inc. 3 | |||||
Variable interest rate | [9],[10],[14] | 4.75% | |||
Interest Rate | [9],[10],[12],[14] | 9.41% | |||
Par Amount | [9],[10],[14] | $ 54,000 | |||
Cost | [4],[9],[10],[14] | 52,000 | |||
Fair Value | [9],[10],[14] | $ 49,000 | |||
Percentage of Net Assets | [9],[10],[14] | 0% | |||
Investment, Identifier [Axis]: Abacus Data Holdings, Inc. (AbacusNext) | |||||
Par Amount | [8],[19] | $ 29,441 | |||
Par Amount, Shares (in shares) | [10],[20] | 29,441 | |||
Cost | 2,944,000 | [1],[8],[19] | $ 2,944,000 | [4],[10],[20] | |
Fair Value | $ 2,420,000 | [8],[19] | $ 2,193,000 | [10],[20] | |
Percentage of Net Assets | 0.17% | [8],[19] | 0.16% | [10],[20] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 490,000 | $ 700,000 | |||
Fair Value | $ 0 | $ (5,000) | |||
Investment, Identifier [Axis]: Abacus Data Holdings, Inc. (AbacusNext) 1 | |||||
Variable interest rate | 6.25% | [7],[8],[16] | 6.25% | [9],[10],[15] | |
Interest Rate | 11.48% | [7],[8],[11],[16] | 9.99% | [9],[10],[12],[15] | |
Par Amount | $ 18,522,000 | [7],[8],[16] | $ 18,617,000 | [9],[10],[15] | |
Cost | 18,241,000 | [1],[7],[8],[16] | 18,303,000 | [4],[9],[10],[15] | |
Fair Value | $ 18,513,000 | [7],[8],[16] | $ 18,479,000 | [9],[10],[15] | |
Percentage of Net Assets | 1.29% | [7],[8],[16] | 1.32% | [9],[10],[15] | |
Investment, Identifier [Axis]: Abacus Data Holdings, Inc. (AbacusNext) 2 | |||||
Variable interest rate | 6.25% | [7],[8] | 6.25% | [9],[10] | |
Interest Rate | 11.48% | [7],[8],[11] | 9.99% | [9],[10],[12] | |
Par Amount | $ 1,940,000 | [7],[8] | $ 1,950,000 | [9],[10] | |
Cost | 1,927,000 | [1],[7],[8] | 1,935,000 | [4],[9],[10] | |
Fair Value | $ 1,939,000 | [7],[8] | $ 1,936,000 | [9],[10] | |
Percentage of Net Assets | 0.13% | [7],[8] | 0.14% | [9],[10] | |
Investment, Identifier [Axis]: Abacus Data Holdings, Inc. (AbacusNext) 3 | |||||
Variable interest rate | 6.25% | [7],[8],[13] | 6.25% | [9],[10],[14] | |
Interest Rate | 11.48% | [7],[8],[11],[13] | 9.99% | [9],[10],[12],[14] | |
Par Amount | $ 910,000 | [7],[8],[13] | $ 700,000 | [9],[10],[14] | |
Cost | 889,000 | [1],[7],[8],[13] | 677,000 | [4],[9],[10],[14] | |
Fair Value | $ 909,000 | [7],[8],[13] | $ 690,000 | [9],[10],[14] | |
Percentage of Net Assets | 0.06% | [7],[8],[13] | 0.05% | [9],[10],[14] | |
Investment, Identifier [Axis]: Abracon Group Holdings, LLC 1 | |||||
Variable interest rate | 5.75% | [8],[17] | 5.75% | [10],[18] | |
Interest Rate | 10.89% | [8],[11],[17] | 10.48% | [10],[12],[18] | |
Par Amount | $ 5,507,000 | [8],[17] | $ 5,534,000 | [10],[18] | |
Cost | 5,411,000 | [1],[8],[17] | 5,431,000 | [4],[10],[18] | |
Fair Value | $ 5,349,000 | [8],[17] | $ 5,249,000 | [10],[18] | |
Percentage of Net Assets | 0.37% | [8],[17] | 0.38% | [10],[18] | |
Unused Fee Rate | 1% | 1% | |||
Unfunded Commitment | $ 706,000 | $ 1,003,000 | |||
Fair Value | $ (20,000) | $ (52,000) | |||
Investment, Identifier [Axis]: Abracon Group Holdings, LLC 2 | |||||
Variable interest rate | 5.75% | [8],[13],[17] | 5.75% | [10],[14],[18] | |
Interest Rate | 10.89% | [8],[11],[13],[17] | 10.48% | [10],[12],[14],[18] | |
Par Amount | $ 297,000 | [8],[13],[17] | $ 0 | [10],[14],[18] | |
Cost | 285,000 | [1],[8],[13],[17] | (9,000) | [4],[10],[14],[18] | |
Fair Value | $ 268,000 | [8],[13],[17] | $ (51,000) | [10],[14],[18] | |
Percentage of Net Assets | 0.02% | [8],[13],[17] | 0% | [10],[14],[18] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 401,000 | $ 401,000 | |||
Fair Value | $ (12,000) | $ (21,000) | |||
Investment, Identifier [Axis]: Abracon Group Holdings, LLC 3 | |||||
Variable interest rate | 5.75% | [8],[13],[17] | 5.75% | [10],[14],[18] | |
Interest Rate | 10.89% | [8],[11],[13],[17] | 10.48% | [10],[12],[14],[18] | |
Par Amount | $ 0 | [8],[13],[17] | $ 0 | [10],[14],[18] | |
Cost | (7,000) | [1],[8],[13],[17] | (7,000) | [4],[10],[14],[18] | |
Fair Value | $ (12,000) | [8],[13],[17] | $ (21,000) | [10],[14],[18] | |
Percentage of Net Assets | 0% | [8],[13],[17] | 0% | [10],[14],[18] | |
Investment, Identifier [Axis]: Advarra Holdings, Inc. | |||||
Unused Fee Rate | 1% | 1% | |||
Unfunded Commitment | $ 41,000 | $ 41,000 | |||
Fair Value | $ (1,000) | $ (2,000) | |||
Investment, Identifier [Axis]: Advarra Holdings, Inc. 1 | |||||
Variable interest rate | 5.75% | [8],[21] | 5.75% | [10],[18] | |
Interest Rate | 10.83% | [8],[11],[21] | 10.15% | [10],[12],[18] | |
Par Amount | $ 456,000 | [8],[21] | $ 459,000 | [10],[18] | |
Cost | 449,000 | [1],[8],[21] | 451,000 | [4],[10],[18] | |
Fair Value | $ 442,000 | [8],[21] | $ 434,000 | [10],[18] | |
Percentage of Net Assets | 0.03% | [8],[21] | 0.03% | [10],[18] | |
Investment, Identifier [Axis]: Advarra Holdings, Inc. 2 | |||||
Variable interest rate | 5.75% | [8],[13],[21] | 5.75% | [10],[14],[18] | |
Interest Rate | 10.83% | [8],[11],[13],[21] | 10.15% | [10],[12],[14],[18] | |
Par Amount | $ 0 | [8],[13],[21] | $ 0 | [10],[14],[18] | |
Cost | 0 | [1],[8],[13],[21] | 0 | [4],[10],[14],[18] | |
Fair Value | $ (1,000) | [8],[13],[21] | $ (2,000) | [10],[14],[18] | |
Percentage of Net Assets | 0% | [8],[13],[21] | 0% | [10],[14],[18] | |
Investment, Identifier [Axis]: Alert Media, Inc. | |||||
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 3,043,000 | $ 1,750,000 | |||
Fair Value | $ (86,000) | $ (58,000) | |||
Investment, Identifier [Axis]: Alert Media, Inc. 1 | |||||
Variable interest rate | 5% | [7],[8],[16] | 5% | [9],[10],[15] | |
Interest Rate | 10.73% | [7],[8],[11],[16] | 9.26% | [9],[10],[12],[15] | |
Par Amount | $ 19,000,000 | [7],[8],[16] | $ 14,000,000 | [9],[10],[15] | |
Cost | 18,736,000 | [1],[7],[8],[16] | 13,842,000 | [4],[9],[10],[15] | |
Fair Value | $ 18,483,000 | [7],[8],[16] | $ 13,534,000 | [9],[10],[15] | |
Percentage of Net Assets | 1.28% | [7],[8],[16] | 0.97% | [9],[10],[15] | |
Investment, Identifier [Axis]: Alert Media, Inc. 2 | |||||
Variable interest rate | 5% | [7],[8],[13] | 5% | [9],[10],[14] | |
Interest Rate | 10.73% | [7],[8],[11],[13] | 9.26% | [9],[10],[12],[14] | |
Par Amount | $ 0 | [7],[8],[13] | $ 0 | [9],[10],[14] | |
Cost | (45,000) | [1],[7],[8],[13] | (17,000) | [4],[9],[10],[14] | |
Fair Value | $ (86,000) | [7],[8],[13] | $ (58,000) | [9],[10],[14] | |
Percentage of Net Assets | (0.01%) | [7],[8],[13] | 0% | [9],[10],[14] | |
Investment, Identifier [Axis]: Amerilife Holdings, LLC | |||||
Par Amount | [8],[19] | $ 908 | |||
Par Amount, Shares (in shares) | [10],[20] | 873 | |||
Cost | 25,000 | [1],[8],[19] | $ 24,000 | [4],[10],[20] | |
Fair Value | $ 31,000 | [8],[19] | $ 24,000 | [10],[20] | |
Percentage of Net Assets | 0% | [8],[19] | 0% | [10],[20] | |
Investment, Identifier [Axis]: Amerilife Holdings, LLC 1 | |||||
Variable interest rate | 5.75% | [8],[17] | 5.75% | [10],[18] | |
Interest Rate | 10.99% | [8],[11],[17] | 9.58% | [10],[12],[18] | |
Par Amount | $ 2,034,000 | [8],[17] | $ 2,044,000 | [10],[18] | |
Cost | 1,997,000 | [1],[8],[17] | 2,005,000 | [4],[10],[18] | |
Fair Value | $ 1,955,000 | [8],[17] | $ 2,005,000 | [10],[18] | |
Percentage of Net Assets | 0.14% | [8],[17] | 0.14% | [10],[18] | |
Unused Fee Rate | 1% | 1% | |||
Unfunded Commitment | $ 292,000 | $ 292,000 | |||
Fair Value | $ (11,000) | $ (5,000) | |||
Investment, Identifier [Axis]: Amerilife Holdings, LLC 2 | |||||
Variable interest rate | 5.75% | [8],[13],[17] | 5.75% | [10],[14],[18] | |
Interest Rate | 10.99% | [8],[11],[13],[17] | 10.15% | [10],[12],[14],[18] | |
Par Amount | $ 580,000 | [8],[13],[17] | $ 583,000 | [10],[14],[18] | |
Cost | 567,000 | [1],[8],[13],[17] | 569,000 | [4],[10],[14],[18] | |
Fair Value | $ 546,000 | [8],[13],[17] | $ 569,000 | [10],[14],[18] | |
Percentage of Net Assets | 0.04% | [8],[13],[17] | 0.04% | [10],[14],[18] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 364,000 | $ 437,000 | |||
Fair Value | $ (14,000) | $ (8,000) | |||
Investment, Identifier [Axis]: Amerilife Holdings, LLC 3 | |||||
Variable interest rate | 5.75% | [8],[13],[17] | 5.75% | [10],[14],[18] | |
Interest Rate | 10.99% | [8],[11],[13],[17] | 10.15% | [10],[12],[14],[18] | |
Par Amount | $ 73,000 | [8],[13],[17] | $ 0 | [10],[14],[18] | |
Cost | 65,000 | [1],[8],[13],[17] | (8,000) | [4],[10],[14],[18] | |
Fair Value | $ 56,000 | [8],[13],[17] | $ (8,000) | [10],[14],[18] | |
Percentage of Net Assets | 0% | [8],[13],[17] | 0% | [10],[14],[18] | |
Investment, Identifier [Axis]: Anaplan, Inc. | |||||
Variable interest rate | 6.50% | [8],[17] | 6.50% | [10],[18] | |
Interest Rate | 11.60% | [8],[11],[17] | 10.82% | [10],[12],[18] | |
Par Amount | $ 24,000,000 | [8],[17] | $ 24,000,000 | [10],[18] | |
Cost | 23,571,000 | [1],[8],[17] | 23,546,000 | [4],[10],[18] | |
Fair Value | $ 23,820,000 | [8],[17] | $ 23,578,000 | [10],[18] | |
Percentage of Net Assets | 1.65% | [8],[17] | 1.69% | [10],[18] | |
Investment, Identifier [Axis]: Answer Acquisition, LLC | |||||
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 625,000 | $ 833,000 | |||
Fair Value | $ (16,000) | $ (35,000) | |||
Investment, Identifier [Axis]: Answer Acquisition, LLC 1 | |||||
Variable interest rate | 5.75% | [7],[8] | 5.50% | [9],[10] | |
Interest Rate | 11.14% | [7],[8],[11] | 10.23% | [9],[10],[12] | |
Par Amount | $ 10,665,000 | [7],[8] | $ 10,719,000 | [9],[10] | |
Cost | 10,506,000 | [1],[7],[8] | 10,541,000 | [4],[9],[10] | |
Fair Value | $ 10,398,000 | [7],[8] | $ 10,265,000 | [9],[10] | |
Percentage of Net Assets | 0.72% | [7],[8] | 0.73% | [9],[10] | |
Investment, Identifier [Axis]: Answer Acquisition, LLC 2 | |||||
Variable interest rate | 5.75% | [7],[8],[13] | 5.50% | [9],[10],[14] | |
Interest Rate | 11.14% | [7],[8],[11],[13] | 10.23% | [9],[10],[12],[14] | |
Par Amount | $ 208,000 | [7],[8],[13] | $ 0 | [9],[10],[14] | |
Cost | 197,000 | [1],[7],[8],[13] | (13,000) | [4],[9],[10],[14] | |
Fair Value | $ 188,000 | [7],[8],[13] | $ (35,000) | [9],[10],[14] | |
Percentage of Net Assets | 0.01% | [7],[8],[13] | 0% | [9],[10],[14] | |
Investment, Identifier [Axis]: Apex Service Partners, LLC 1 | |||||
Variable interest rate | [7],[8] | 5.50% | |||
Interest Rate | [7],[8],[11] | 10.74% | |||
Par Amount | [7],[8] | $ 8,251,000 | |||
Cost | [1],[7],[8] | 7,839,000 | |||
Fair Value | [7],[8] | $ 7,807,000 | |||
Percentage of Net Assets | [7],[8] | 0.54% | |||
Investment, Identifier [Axis]: Apex Service Partners, LLC 2 | |||||
Variable interest rate | [7],[8] | 5.50% | |||
Interest Rate | [7],[8],[11] | 10.74% | |||
Par Amount | [7],[8] | $ 8,251,000 | |||
Cost | [1],[7],[8] | 7,827,000 | |||
Fair Value | [7],[8] | $ 7,807,000 | |||
Percentage of Net Assets | [7],[8] | 0.54% | |||
Investment, Identifier [Axis]: Appfire Technologies, LLC 1 | |||||
Variable interest rate | 5.50% | [7],[8] | 5.50% | [9],[10] | |
Interest Rate | 10.70% | [7],[8],[11] | 9.92% | [9],[10],[12] | |
Par Amount | $ 18,380,000 | [7],[8] | $ 14,617,000 | [9],[10] | |
Cost | 18,280,000 | [1],[7],[8] | 14,549,000 | [4],[9],[10] | |
Fair Value | $ 17,978,000 | [7],[8] | $ 14,063,000 | [9],[10] | |
Percentage of Net Assets | 1.25% | [7],[8] | 1.01% | [9],[10] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 1,465,000 | $ 1,674,000 | |||
Fair Value | $ (32,000) | $ (63,000) | |||
Investment, Identifier [Axis]: Appfire Technologies, LLC 2 | |||||
Variable interest rate | 5.50% | [7],[8],[13] | 5.50% | [9],[10],[14] | |
Interest Rate | 10.70% | [7],[8],[11],[13] | 9.92% | [9],[10],[12],[14] | |
Par Amount | $ 0 | [7],[8],[13] | $ 3,696,000 | [9],[10],[14] | |
Cost | (10,000) | [1],[7],[8],[13] | 3,653,000 | [4],[9],[10],[14] | |
Fair Value | $ (32,000) | [7],[8],[13] | $ 3,491,000 | [9],[10],[14] | |
Percentage of Net Assets | 0% | [7],[8],[13] | 0.25% | [9],[10],[14] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 167,000 | $ 157,000 | |||
Fair Value | $ (4,000) | $ (6,000) | |||
Investment, Identifier [Axis]: Appfire Technologies, LLC 3 | |||||
Variable interest rate | 5.50% | [7],[8],[13] | 5.50% | [9],[10],[14] | |
Interest Rate | 10.70% | [7],[8],[11],[13] | 9.92% | [9],[10],[12],[14] | |
Par Amount | $ 0 | [7],[8],[13] | $ 10,000 | [9],[10],[14] | |
Cost | (2,000) | [1],[7],[8],[13] | 7,000 | [4],[9],[10],[14] | |
Fair Value | $ (4,000) | [7],[8],[13] | $ 3,000 | [9],[10],[14] | |
Percentage of Net Assets | 0% | [7],[8],[13] | 0% | [9],[10],[14] | |
Investment, Identifier [Axis]: Applitools, Inc. | |||||
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 433,000 | $ 433,000 | |||
Fair Value | $ (18,000) | $ (7,000) | |||
Investment, Identifier [Axis]: Applitools, Inc. 1 | |||||
Variable interest rate | [10],[18],[22] | 6.25% | |||
Interest rate, PIK | [8],[17],[23] | 6.25% | |||
Interest Rate | 11.35% | [8],[17],[23] | 10.57% | [10],[12],[18],[22] | |
Par Amount | $ 3,382,000 | [8],[17],[23] | $ 3,200,000 | [10],[18],[22] | |
Cost | 3,336,000 | [1],[8],[17],[23] | 3,143,000 | [4],[10],[18],[22] | |
Fair Value | $ 3,237,000 | [8],[17],[23] | $ 3,145,000 | [10],[18],[22] | |
Percentage of Net Assets | 0.22% | [8],[17],[23] | 0.23% | [10],[18],[22] | |
Investment, Identifier [Axis]: Applitools, Inc. 2 | |||||
Variable interest rate | 6.25% | [8],[13],[17],[23] | 6.25% | [10],[14],[18],[22] | |
Interest Rate | 11.35% | [8],[11],[13],[17],[23] | 10.57% | [10],[12],[14],[18],[22] | |
Par Amount | $ 0 | [8],[13],[17],[23] | $ 0 | [10],[14],[18],[22] | |
Cost | (7,000) | [1],[8],[13],[17],[23] | (8,000) | [4],[10],[14],[18],[22] | |
Fair Value | $ (19,000) | [8],[13],[17],[23] | $ (7,000) | [10],[14],[18],[22] | |
Percentage of Net Assets | 0% | [8],[13],[17],[23] | 0% | [10],[14],[18],[22] | |
Investment, Identifier [Axis]: Aptean, Inc. | |||||
Variable interest rate | 7% | [17] | 7% | [18] | |
Interest Rate | 12.20% | [11],[17] | 11.74% | [12],[18] | |
Par Amount | $ 5,950,000 | [17] | $ 5,950,000 | [18] | |
Cost | 5,950,000 | [1],[17] | 5,950,000 | [4],[18] | |
Fair Value | $ 5,474,000 | [17] | $ 5,459,000 | [18] | |
Percentage of Net Assets | 0.38% | [17] | 0.39% | [18] | |
Investment, Identifier [Axis]: Assembly Intermediate, LLC 1 | |||||
Variable interest rate | 6.50% | [7],[8] | 6.50% | [9],[10] | |
Interest Rate | 11.84% | [7],[8],[11] | 11.23% | [9],[10],[12] | |
Par Amount | $ 20,741,000 | [7],[8] | $ 20,741,000 | [9],[10] | |
Cost | 20,421,000 | [1],[7],[8] | 20,393,000 | [4],[9],[10] | |
Fair Value | $ 20,040,000 | [7],[8] | $ 19,944,000 | [9],[10] | |
Percentage of Net Assets | 1.39% | [7],[8] | 1.43% | [9],[10] | |
Unused Fee Rate | 1% | 1% | |||
Unfunded Commitment | $ 2,281,000 | $ 2,281,000 | |||
Fair Value | $ (77,000) | $ (88,000) | |||
Investment, Identifier [Axis]: Assembly Intermediate, LLC 2 | |||||
Variable interest rate | 6.50% | [7],[8],[13] | 6.50% | [9],[10] | |
Interest Rate | 11.84% | [7],[8],[11],[13] | 11.23% | [9],[10],[12] | |
Par Amount | $ 2,904,000 | [7],[8],[13] | $ 2,904,000 | [9],[10] | |
Cost | 2,842,000 | [1],[7],[8],[13] | 2,836,000 | [4],[9],[10] | |
Fair Value | $ 2,728,000 | [7],[8],[13] | $ 2,705,000 | [9],[10] | |
Percentage of Net Assets | 0.19% | [7],[8],[13] | 0.19% | [9],[10] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 2,074,000 | $ 1,244,000 | |||
Fair Value | $ (70,000) | $ (48,000) | |||
Investment, Identifier [Axis]: Assembly Intermediate, LLC 3 | |||||
Variable interest rate | 6.50% | [7],[8],[13] | 6.50% | [9],[10] | |
Interest Rate | 11.84% | [7],[8],[11],[13] | 11.23% | [9],[10],[12] | |
Par Amount | $ 0 | [7],[8],[13] | $ 830,000 | [9],[10] | |
Cost | (30,000) | [1],[7],[8],[13] | 796,000 | [4],[9],[10] | |
Fair Value | $ (70,000) | [7],[8],[13] | $ 750,000 | [9],[10] | |
Percentage of Net Assets | 0% | [7],[8],[13] | 0.05% | [9],[10] | |
Investment, Identifier [Axis]: Associations, Inc. 1 | |||||
Variable interest rate | 650% | [7],[8],[16] | 6.50% | [9],[10],[15] | |
Interest rate, PIK | 250% | [7],[8],[16] | 2.50% | [9],[10],[15] | |
Interest Rate | 11.68% | [7],[8],[11],[16] | 10.36% | [9],[10],[12],[15] | |
Par Amount | $ 16,466,000 | [7],[8],[16] | $ 30,525,000 | [9],[10],[15] | |
Cost | 16,354,000 | [1],[7],[8],[16] | 30,293,000 | [4],[9],[10],[15] | |
Fair Value | $ 16,023,000 | [7],[8],[16] | $ 29,139,000 | [9],[10],[15] | |
Percentage of Net Assets | 1.11% | [7],[8],[16] | 2.09% | [9],[10],[15] | |
Unused Fee Rate | 1% | 1% | |||
Unfunded Commitment | $ 2,541,000 | $ 6,694,000 | |||
Fair Value | $ (68,000) | $ (304,000) | |||
Investment, Identifier [Axis]: Associations, Inc. 2 | |||||
Variable interest rate | 650% | [7],[8],[13] | 6.50% | [9],[10],[14] | |
Interest rate, PIK | 250% | [7],[8],[13] | 2.50% | [9],[10],[14] | |
Interest Rate | 11.68% | [7],[8],[11],[13] | 10.36% | [9],[10],[12],[14] | |
Par Amount | $ 19,164,000 | [7],[8],[13] | $ 546,000 | [9],[10],[14] | |
Cost | 19,007,000 | [1],[7],[8],[13] | 481,000 | [4],[9],[10],[14] | |
Fair Value | $ 18,581,000 | [7],[8],[13] | $ 218,000 | [9],[10],[14] | |
Percentage of Net Assets | 1.29% | [7],[8],[13] | 0.02% | [9],[10],[14] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 1,860,000 | $ 1,860,000 | |||
Fair Value | $ (50,000) | $ (84,000) | |||
Investment, Identifier [Axis]: Associations, Inc. 3 | |||||
Variable interest rate | 650% | [7],[8],[13] | 6.50% | [9],[10],[14] | |
Interest rate, PIK | 250% | [7],[8],[13] | 2.50% | [9],[10],[14] | |
Interest Rate | 11.68% | [7],[8],[11],[13] | 10.36% | [9],[10],[12],[14] | |
Par Amount | $ 0 | [7],[8],[13] | $ 0 | [9],[10],[14] | |
Cost | (12,000) | [1],[7],[8],[13] | (14,000) | [4],[9],[10],[14] | |
Fair Value | $ (50,000) | [7],[8],[13] | $ (84,000) | [9],[10],[14] | |
Percentage of Net Assets | 0% | [7],[8],[13] | (0.01%) | [9],[10],[14] | |
Investment, Identifier [Axis]: Atlas Purchaser, Inc. | |||||
Variable interest rate | 5.25% | [16],[17] | 5.25% | [15],[18] | |
Interest Rate | 10.39% | [11],[16],[17] | 9.81% | [12],[15],[18] | |
Par Amount | $ 8,877,000 | [16],[17] | $ 8,922,000 | [15],[18] | |
Cost | 8,744,000 | [1],[16],[17] | 8,778,000 | [4],[15],[18] | |
Fair Value | $ 5,856,000 | [16],[17] | $ 6,225,000 | [15],[18] | |
Percentage of Net Assets | 0.41% | [16],[17] | 0.45% | [15],[18] | |
Investment, Identifier [Axis]: Atlas Us Finco, Inc. | |||||
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 186,000 | $ 186,000 | |||
Fair Value | $ (4,000) | $ (6,000) | |||
Investment, Identifier [Axis]: Atlas Us Finco, Inc. 1 | |||||
Variable interest rate | 7.25% | [7],[8],[23] | 7.25% | [9],[10],[22] | |
Interest Rate | 12.40% | [7],[8],[11],[23] | 11.48% | [9],[10],[12],[22] | |
Par Amount | $ 2,009,000 | [7],[8],[23] | $ 2,009,000 | [9],[10],[22] | |
Cost | 1,952,000 | [1],[7],[8],[23] | 1,949,000 | [4],[9],[10],[22] | |
Fair Value | $ 1,968,000 | [7],[8],[23] | $ 1,949,000 | [9],[10],[22] | |
Percentage of Net Assets | 0.14% | [7],[8],[23] | 0.14% | [9],[10],[22] | |
Investment, Identifier [Axis]: Atlas Us Finco, Inc. 2 | |||||
Variable interest rate | 7.25% | [7],[8],[13],[23] | 7.25% | [9],[10],[22] | |
Interest Rate | 12.40% | [7],[8],[11],[13],[23] | 11.48% | [9],[10],[12],[22] | |
Par Amount | $ 0 | [7],[8],[13],[23] | $ 0 | [9],[10],[22] | |
Cost | (5,000) | [1],[7],[8],[13],[23] | (6,000) | [4],[9],[10],[22] | |
Fair Value | $ (4,000) | [7],[8],[13],[23] | $ (6,000) | [9],[10],[22] | |
Percentage of Net Assets | 0% | [7],[8],[13],[23] | 0% | [9],[10],[22] | |
Investment, Identifier [Axis]: Avalara, Inc. | |||||
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 1,130,000 | $ 1,071,000 | |||
Fair Value | $ (8,000) | $ (26,000) | |||
Investment, Identifier [Axis]: Avalara, Inc. 1 | |||||
Variable interest rate | 7.25% | [8],[17] | 7.25% | [10],[18] | |
Interest Rate | 12.49% | [8],[11],[17] | 11.83% | [10],[12],[18] | |
Par Amount | $ 11,302,000 | [8],[17] | $ 10,712,000 | [10],[18] | |
Cost | 11,052,000 | [1],[8],[17] | 10,451,000 | [4],[10],[18] | |
Fair Value | $ 11,217,000 | [8],[17] | $ 10,451,000 | [10],[18] | |
Percentage of Net Assets | 0.78% | [8],[17] | 0.75% | [10],[18] | |
Investment, Identifier [Axis]: Avalara, Inc. 2 | |||||
Variable interest rate | 7.25% | [8],[13],[17] | 7.25% | [10],[14],[18] | |
Interest Rate | 12.49% | [8],[11],[13],[17] | 11.83% | [10],[12],[14],[18] | |
Par Amount | $ 0 | [8],[13],[17] | $ 0 | [10],[14],[18] | |
Cost | (24,000) | [1],[8],[13],[17] | (26,000) | [4],[10],[14],[18] | |
Fair Value | $ (9,000) | [8],[13],[17] | $ (26,000) | [10],[14],[18] | |
Percentage of Net Assets | 0% | [8],[13],[17] | 0% | [10],[14],[18] | |
Investment, Identifier [Axis]: BP Purchaser, LLC | |||||
Variable interest rate | 5.50% | [8],[17] | 5.50% | [10],[18] | |
Interest Rate | 11% | [8],[11],[17] | 10.24% | [10],[12],[18] | |
Par Amount | $ 17,248,000 | [8],[17] | $ 17,336,000 | [10],[18] | |
Cost | 16,964,000 | [1],[8],[17] | 17,031,000 | [4],[10],[18] | |
Fair Value | $ 16,436,000 | [8],[17] | $ 16,185,000 | [10],[18] | |
Percentage of Net Assets | 1.14% | [8],[17] | 1.16% | [10],[18] | |
Investment, Identifier [Axis]: BP Purchaser, LLC 2 | |||||
Par Amount, Shares (in shares) | [10],[20] | 1,233,333 | |||
Cost | [4],[10],[20] | $ 1,233,000 | |||
Fair Value | [10],[20] | $ 1,468,000 | |||
Percentage of Net Assets | [10],[20] | 0.11% | |||
Investment, Identifier [Axis]: BP Purchaser, LLC, Common Equity | |||||
Par Amount | [8],[19] | $ 1,233,333 | |||
Cost | [1],[8],[19] | 1,233,000 | |||
Fair Value | [8],[19] | $ 1,270,000 | |||
Percentage of Net Assets | [8],[19] | 0.09% | |||
Investment, Identifier [Axis]: BPG Holdings IV Corp. | |||||
Variable interest rate | 6% | [8],[17] | 6% | [10],[18] | |
Interest Rate | 11.24% | [8],[11],[17] | 10.54% | [10],[12],[18] | |
Par Amount | $ 11,706,000 | [8],[17] | $ 11,765,000 | [10],[18] | |
Cost | 10,986,000 | [1],[8],[17] | 11,001,000 | [4],[10],[18] | |
Fair Value | $ 11,229,000 | [8],[17] | $ 11,001,000 | [10],[18] | |
Percentage of Net Assets | 0.78% | [8],[17] | 0.79% | [10],[18] | |
Investment, Identifier [Axis]: Bottomline Technologies, Inc. | |||||
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 267,000 | $ 267,000 | |||
Fair Value | $ (5,000) | $ (10,000) | |||
Investment, Identifier [Axis]: Bottomline Technologies, Inc. 1 | |||||
Variable interest rate | 5.25% | [7],[8] | 5.50% | [10],[18] | |
Interest Rate | 10.33% | [7],[8],[11] | 9.83% | [10],[12],[18] | |
Par Amount | $ 3,176,000 | [7],[8] | $ 3,192,000 | [10],[18] | |
Cost | 3,120,000 | [1],[7],[8] | 3,133,000 | [4],[10],[18] | |
Fair Value | $ 3,118,000 | [7],[8] | $ 3,070,000 | [10],[18] | |
Percentage of Net Assets | 0.22% | [7],[8] | 0.22% | [10],[18] | |
Investment, Identifier [Axis]: Bottomline Technologies, Inc. 2 | |||||
Variable interest rate | 5.25% | [7],[8],[13] | 5.50% | [10],[14],[18] | |
Interest Rate | 10.33% | [7],[8],[11],[13] | 9.83% | [10],[12],[14],[18] | |
Par Amount | $ 0 | [7],[8],[13] | $ 0 | [10],[14],[18] | |
Cost | (4,000) | [1],[7],[8],[13] | (5,000) | [4],[10],[14],[18] | |
Fair Value | $ (5,000) | [7],[8],[13] | $ (10,000) | [10],[14],[18] | |
Percentage of Net Assets | 0% | [7],[8],[13] | 0% | [10],[14],[18] | |
Investment, Identifier [Axis]: Bridgepointe Technologies, LLC | |||||
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 6,864,000 | $ 10,116,000 | |||
Fair Value | $ (245,000) | $ (403,000) | |||
Investment, Identifier [Axis]: Bridgepointe Technologies, LLC 1 | |||||
Variable interest rate | 6.50% | [7],[8] | 6.50% | [9],[10] | |
Interest Rate | 11.89% | [7],[8],[11] | 11.23% | [9],[10],[12] | |
Par Amount | $ 15,098,000 | [7],[8] | $ 15,174,000 | [9],[10] | |
Cost | 14,543,000 | [1],[7],[8] | 14,570,000 | [4],[9],[10] | |
Fair Value | $ 14,559,000 | [7],[8] | $ 14,570,000 | [9],[10] | |
Percentage of Net Assets | 1.01% | [7],[8] | 1.04% | [9],[10] | |
Investment, Identifier [Axis]: Bridgepointe Technologies, LLC 2 | |||||
Variable interest rate | 6.50% | [7],[8],[13] | 6.50% | [9],[10],[14] | |
Interest Rate | 11.89% | [7],[8],[11],[13] | 11.23% | [9],[10],[12],[14] | |
Par Amount | $ 3,252,000 | [7],[8],[13] | $ 0 | [9],[10],[14] | |
Cost | 2,858,000 | [1],[7],[8],[13] | (403,000) | [4],[9],[10],[14] | |
Fair Value | $ 2,891,000 | [7],[8],[13] | $ (403,000) | [9],[10],[14] | |
Percentage of Net Assets | 0.20% | [7],[8],[13] | (0.03%) | [9],[10],[14] | |
Investment, Identifier [Axis]: Bullhorn, Inc. | |||||
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 593,000 | $ 320,000 | |||
Fair Value | $ (4,000) | $ (10,000) | |||
Investment, Identifier [Axis]: Bullhorn, Inc. 1 | |||||
Variable interest rate | 5.75% | [7],[8],[16] | 5.75% | [9],[10],[15] | |
Interest Rate | 10.95% | [7],[8],[11],[16] | 10.48% | [9],[10],[12],[15] | |
Par Amount | $ 15,538,000 | [7],[8],[16] | $ 12,948,000 | [9],[10],[15] | |
Cost | 15,441,000 | [1],[7],[8],[16] | 12,847,000 | [4],[9],[10],[15] | |
Fair Value | $ 15,422,000 | [7],[8],[16] | $ 12,571,000 | [9],[10],[15] | |
Percentage of Net Assets | 1.07% | [7],[8],[16] | 0.90% | [9],[10],[15] | |
Investment, Identifier [Axis]: Bullhorn, Inc. 2 | |||||
Variable interest rate | 5.75% | [7],[8] | 5.75% | [9],[10] | |
Interest Rate | 10.95% | [7],[8],[11] | 10.48% | [9],[10],[12] | |
Par Amount | $ 51,000 | [7],[8] | $ 2,723,000 | [9],[10] | |
Cost | 51,000 | [1],[7],[8] | 2,712,000 | [4],[9],[10] | |
Fair Value | $ 50,000 | [7],[8] | $ 2,643,000 | [9],[10] | |
Percentage of Net Assets | 0% | [7],[8] | 0.19% | [9],[10] | |
Investment, Identifier [Axis]: Bullhorn, Inc. 3 | |||||
Variable interest rate | 5.75% | [7],[8],[13] | 5.75% | [9],[10],[14] | |
Interest Rate | 10.95% | [7],[8],[11],[13] | 10.48% | [9],[10],[12],[14] | |
Par Amount | $ 0 | [7],[8],[13] | $ 273,000 | [9],[10],[14] | |
Cost | (5,000) | [1],[7],[8],[13] | 267,000 | [4],[9],[10],[14] | |
Fair Value | $ (4,000) | [7],[8],[13] | $ 256,000 | [9],[10],[14] | |
Percentage of Net Assets | 0% | [7],[8],[13] | 0.02% | [9],[10],[14] | |
Investment, Identifier [Axis]: CLEO Communications Holding, LLC | |||||
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 12,502,000 | $ 12,502,000 | |||
Fair Value | $ (328,000) | $ (445,000) | |||
Investment, Identifier [Axis]: CLEO Communications Holding, LLC 1 | |||||
Variable interest rate | 6.50% | [7],[8],[16] | 6.50% | [9],[10],[15] | |
Interest Rate | 11.75% | [7],[8],[11],[16] | 10.74% | [9],[10],[12],[15] | |
Par Amount | $ 39,998,000 | [7],[8],[16] | $ 39,998,000 | [9],[10],[15] | |
Cost | 39,713,000 | [1],[7],[8],[16] | 39,685,000 | [4],[9],[10],[15] | |
Fair Value | $ 38,950,000 | [7],[8],[16] | $ 38,574,000 | [9],[10],[15] | |
Percentage of Net Assets | 2.70% | [7],[8],[16] | 2.76% | [9],[10],[15] | |
Investment, Identifier [Axis]: CLEO Communications Holding, LLC 2 | |||||
Variable interest rate | 6.50% | [7],[8],[13] | 6.50% | [9],[10],[14] | |
Interest Rate | 11.75% | [7],[8],[11],[13] | 10.74% | [9],[10],[12],[14] | |
Par Amount | $ 0 | [7],[8],[13] | $ 0 | [9],[10],[14] | |
Cost | (82,000) | [1],[7],[8],[13] | (92,000) | [4],[9],[10],[14] | |
Fair Value | $ (327,000) | [7],[8],[13] | $ (445,000) | [9],[10],[14] | |
Percentage of Net Assets | (0.02%) | [7],[8],[13] | (0.03%) | [9],[10],[14] | |
Investment, Identifier [Axis]: CSC Thrive Holdings, LP (Thrive Networks) | |||||
Par Amount | [8],[19] | $ 162,309 | |||
Par Amount, Shares (in shares) | [10],[20] | 160,016 | |||
Cost | 421,000 | [1],[8],[19] | $ 411,000 | [4],[10],[20] | |
Fair Value | $ 794,000 | [8],[19] | $ 640,000 | [10],[20] | |
Percentage of Net Assets | 0.06% | [8],[19] | 0.05% | [10],[20] | |
Investment, Identifier [Axis]: Caerus US 1, Inc. 1 | |||||
Variable interest rate | 5.75% | [8],[17],[23] | 5.75% | [10],[18],[22] | |
Interest Rate | 10.99% | [8],[11],[17],[23] | 9.83% | [10],[12],[18],[22] | |
Par Amount | $ 11,093,000 | [8],[17],[23] | $ 11,121,000 | [10],[18],[22] | |
Cost | 10,888,000 | [1],[8],[17],[23] | 10,903,000 | [4],[10],[18],[22] | |
Fair Value | $ 11,003,000 | [8],[17],[23] | $ 10,903,000 | [10],[18],[22] | |
Percentage of Net Assets | 0.76% | [8],[17],[23] | 0.78% | [10],[18],[22] | |
Unused Fee Rate | 1% | 0% | |||
Unfunded Commitment | $ 1,608,000 | $ 1,608,000 | |||
Fair Value | $ (13,000) | $ (16,000) | |||
Investment, Identifier [Axis]: Caerus US 1, Inc. 2 | |||||
Variable interest rate | 5.75% | [8],[13],[17],[23] | 5.75% | [10],[14],[18],[22] | |
Interest Rate | 10.99% | [8],[11],[13],[17],[23] | 9.83% | [10],[12],[14],[18],[22] | |
Par Amount | $ 0 | [8],[13],[17],[23] | $ 0 | [10],[14],[18],[22] | |
Cost | (14,000) | [1],[8],[13],[17],[23] | (16,000) | [4],[10],[14],[18],[22] | |
Fair Value | $ (13,000) | [8],[13],[17],[23] | $ (16,000) | [10],[14],[18],[22] | |
Percentage of Net Assets | 0% | [8],[13],[17],[23] | 0% | [10],[14],[18],[22] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 468,000 | $ 878,000 | |||
Fair Value | $ (4,000) | $ (17,000) | |||
Investment, Identifier [Axis]: Caerus US 1, Inc. 3 | |||||
Variable interest rate | 5.75% | [8],[13],[17],[23] | 5.75% | [10],[14],[18],[22] | |
Interest Rate | 10.99% | [8],[11],[13],[17],[23] | 9.83% | [10],[12],[14],[18],[22] | |
Par Amount | $ 702,000 | [8],[13],[17],[23] | $ 293,000 | [10],[14],[18],[22] | |
Cost | 681,000 | [1],[8],[13],[17],[23] | 270,000 | [4],[10],[14],[18],[22] | |
Fair Value | $ 693,000 | [8],[13],[17],[23] | $ 270,000 | [10],[14],[18],[22] | |
Percentage of Net Assets | 0.05% | [8],[13],[17],[23] | 0.02% | [10],[14],[18],[22] | |
Investment, Identifier [Axis]: Catalis Intermediate, Inc. 1 | |||||
Variable interest rate | [8],[16],[17] | 5.50% | |||
Interest Rate | [8],[11],[16],[17] | 10.89% | |||
Par Amount | [8],[16],[17] | $ 39,558,000 | |||
Cost | [1],[8],[16],[17] | 38,834,000 | |||
Fair Value | [8],[16],[17] | $ 34,819,000 | |||
Percentage of Net Assets | [8],[16],[17] | 2.42% | |||
Unused Fee Rate | 1% | ||||
Unfunded Commitment | $ 4,185,000 | ||||
Fair Value | $ (501,000) | ||||
Investment, Identifier [Axis]: Catalis Intermediate, Inc. 2 | |||||
Variable interest rate | [8],[17] | 5.50% | |||
Interest Rate | [8],[11],[17] | 10.89% | |||
Par Amount | [8],[17] | $ 8,901,000 | |||
Cost | [1],[8],[17] | 8,704,000 | |||
Fair Value | [8],[17] | $ 7,333,000 | |||
Percentage of Net Assets | [8],[17] | 0.51% | |||
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 424,000 | ||||
Fair Value | $ (51,000) | ||||
Investment, Identifier [Axis]: Catalis Intermediate, Inc. 3 | |||||
Variable interest rate | [8],[17] | 5.50% | |||
Interest Rate | [8],[11],[17] | 10.89% | |||
Par Amount | [8],[17] | $ 3,814,000 | |||
Cost | [1],[8],[17] | 3,741,000 | |||
Fair Value | [8],[17] | $ 3,306,000 | |||
Percentage of Net Assets | [8],[17] | 0.23% | |||
Investment, Identifier [Axis]: Cerity Partners, LLC | |||||
Unused Fee Rate | 1% | 1% | |||
Unfunded Commitment | $ 5,523,000 | $ 12,699,000 | |||
Fair Value | $ (50,000) | $ (381,000) | |||
Investment, Identifier [Axis]: Cerity Partners, LLC 1 | |||||
Variable interest rate | 6.75% | [8],[17] | 6.75% | [10],[18] | |
Interest Rate | 11.85% | [8],[11],[17] | 11.32% | [10],[12],[18] | |
Par Amount | $ 4,551,000 | [8],[17] | $ 8,617,000 | [10],[18] | |
Cost | 4,420,000 | [1],[8],[17] | 8,359,000 | [4],[10],[18] | |
Fair Value | $ 4,510,000 | [8],[17] | $ 8,359,000 | [10],[18] | |
Percentage of Net Assets | 0.31% | [8],[17] | 0.60% | [10],[18] | |
Investment, Identifier [Axis]: Cerity Partners, LLC 2 | |||||
Variable interest rate | 6.75% | [8],[13],[17] | 6.75% | [10],[14],[18] | |
Interest Rate | 11.85% | [8],[11],[13],[17] | 11.32% | [10],[12],[14],[18] | |
Par Amount | $ 1,429,000 | [8],[13],[17] | $ 454,000 | [10],[14],[18] | |
Cost | 1,235,000 | [1],[8],[13],[17] | 60,000 | [4],[10],[14],[18] | |
Fair Value | $ 1,366,000 | [8],[13],[17] | $ 60,000 | [10],[14],[18] | |
Percentage of Net Assets | 0.09% | [8],[13],[17] | 0% | [10],[14],[18] | |
Investment, Identifier [Axis]: Citrin Cooperman Advisors, LLC | |||||
Unused Fee Rate | 1% | ||||
Unfunded Commitment | $ 1,092,000 | ||||
Fair Value | $ (25,000) | ||||
Investment, Identifier [Axis]: Citrin Cooperman Advisors, LLC 1 | |||||
Variable interest rate | 5.75% | [8],[17] | 5% | [10],[18] | |
Interest Rate | 10.72% | [8],[11],[17] | 9.21% | [10],[12],[18] | |
Par Amount | $ 19,924,000 | [8],[17] | $ 20,025,000 | [10],[18] | |
Cost | 19,624,000 | [1],[8],[17] | 19,695,000 | [4],[10],[18] | |
Fair Value | $ 19,464,000 | [8],[17] | $ 19,428,000 | [10],[18] | |
Percentage of Net Assets | 1.35% | [8],[17] | 1.39% | [10],[18] | |
Investment, Identifier [Axis]: Citrin Cooperman Advisors, LLC 2 | |||||
Variable interest rate | 6.25% | [8],[17] | 5% | [10],[18] | |
Interest Rate | 11.22% | [8],[11],[17] | 9.21% | [10],[12],[18] | |
Par Amount | $ 3,698,000 | [8],[17] | $ 8,582,000 | [10],[18] | |
Cost | 3,595,000 | [1],[8],[17] | 8,437,000 | [4],[10],[18] | |
Fair Value | $ 3,612,000 | [8],[17] | $ 8,326,000 | [10],[18] | |
Percentage of Net Assets | 0.25% | [8],[17] | 0.60% | [10],[18] | |
Investment, Identifier [Axis]: Citrin Cooperman Advisors, LLC 3 | |||||
Variable interest rate | [8],[13],[17] | 5.75% | |||
Interest Rate | [8],[11],[13],[17] | 10.72% | |||
Par Amount | [8],[13],[17] | $ 8,539,000 | |||
Cost | [1],[8],[13],[17] | 8,406,000 | |||
Fair Value | [8],[13],[17] | $ 8,342,000 | |||
Percentage of Net Assets | [8],[13],[17] | 0.58% | |||
Investment, Identifier [Axis]: Citrin Cooperman Advisors, LLC 4 | |||||
Variable interest rate | [8],[13],[17] | 6.25% | |||
Interest Rate | [8],[11],[13],[17] | 11.22% | |||
Par Amount | [8],[13],[17] | $ 0 | |||
Cost | [1],[8],[13],[17] | (15,000) | |||
Fair Value | [8],[13],[17] | $ (25,000) | |||
Percentage of Net Assets | [8],[13],[17] | 0% | |||
Investment, Identifier [Axis]: Continental Battery Company | |||||
Variable interest rate | 6.75% | [7],[8] | 6.75% | [9],[10] | |
Interest Rate | 11.89% | [7],[8],[11] | 11.48% | [9],[10],[12] | |
Par Amount | $ 6,156,000 | [7],[8] | $ 6,188,000 | [9],[10] | |
Cost | 6,062,000 | [1],[7],[8] | 6,083,000 | [4],[9],[10] | |
Fair Value | $ 5,432,000 | [7],[8] | $ 5,903,000 | [9],[10] | |
Percentage of Net Assets | 0.38% | [7],[8] | 0.42% | [9],[10] | |
Investment, Identifier [Axis]: Coupa Holdings, LLC 1 | |||||
Variable interest rate | [8],[17] | 7.50% | |||
Interest Rate | [8],[11],[17] | 12.60% | |||
Par Amount | [8],[17] | $ 2,264,000 | |||
Cost | [1],[8],[17] | 2,209,000 | |||
Fair Value | [8],[17] | $ 2,197,000 | |||
Percentage of Net Assets | [8],[17] | 0.15% | |||
Unused Fee Rate | 1% | ||||
Unfunded Commitment | $ 1,085,000 | ||||
Fair Value | $ (32,000) | ||||
Investment, Identifier [Axis]: Coupa Holdings, LLC 2 | |||||
Variable interest rate | [8],[13],[17] | 7.50% | |||
Interest Rate | [8],[11],[13],[17] | 12.60% | |||
Par Amount | [8],[13],[17] | $ 0 | |||
Cost | [1],[8],[13],[17] | (13,000) | |||
Fair Value | [8],[13],[17] | $ (32,000) | |||
Percentage of Net Assets | [8],[13],[17] | 0% | |||
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 831,000 | ||||
Fair Value | $ (24,000) | ||||
Investment, Identifier [Axis]: Coupa Holdings, LLC 3 | |||||
Variable interest rate | [8],[13],[17] | 7.50% | |||
Interest Rate | [8],[11],[13],[17] | 12.60% | |||
Par Amount | [8],[13],[17] | $ 0 | |||
Cost | [1],[8],[13],[17] | (20,000) | |||
Fair Value | [8],[13],[17] | $ (24,000) | |||
Percentage of Net Assets | [8],[13],[17] | 0% | |||
Investment, Identifier [Axis]: Cyara AcquisitionCo, LLC | |||||
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 313,000 | ||||
Fair Value | $ (9,000) | ||||
Investment, Identifier [Axis]: Cyara AcquisitionCo, LLC 1 | |||||
Variable interest rate | [7],[8] | 6.75% | |||
Interest Rate | [7],[8],[11] | 12.07% | |||
Par Amount | [7],[8] | $ 4,599,000 | |||
Cost | [1],[7],[8] | 4,473,000 | |||
Fair Value | [7],[8] | $ 4,473,000 | |||
Percentage of Net Assets | [7],[8] | 0.31% | |||
Investment, Identifier [Axis]: Cyara AcquisitionCo, LLC 2 | |||||
Variable interest rate | [7],[8],[13] | 6.75% | |||
Interest Rate | [7],[8],[11],[13] | 12.07% | |||
Par Amount | [7],[8],[13] | $ 0 | |||
Cost | [1],[7],[8],[13] | (9,000) | |||
Fair Value | [7],[8],[13] | $ (9,000) | |||
Percentage of Net Assets | [7],[8],[13] | 0% | |||
Investment, Identifier [Axis]: DCA Investment Holdings, LLC | |||||
Unused Fee Rate | 1% | 1% | |||
Unfunded Commitment | $ 431,000 | $ 1,026,000 | |||
Fair Value | $ (3,000) | $ (15,000) | |||
Investment, Identifier [Axis]: DCA Investment Holdings, LLC 1 | |||||
Variable interest rate | 6.41% | [8],[16],[17] | 6% | [10],[15],[18] | |
Interest Rate | 11.65% | [8],[11],[16],[17] | 10.39% | [10],[12],[15],[18] | |
Par Amount | $ 11,772,000 | [8],[16],[17] | $ 11,053,000 | [10],[15],[18] | |
Cost | 11,645,000 | [1],[8],[16],[17] | 10,922,000 | [4],[10],[15],[18] | |
Fair Value | $ 11,684,000 | [8],[16],[17] | $ 10,887,000 | [10],[15],[18] | |
Percentage of Net Assets | 0.81% | [8],[16],[17] | 0.78% | [10],[15],[18] | |
Investment, Identifier [Axis]: DCA Investment Holdings, LLC 2 | |||||
Variable interest rate | 6.41% | [8],[13],[17] | 6% | [10],[14],[18] | |
Interest Rate | 11.65% | [8],[11],[13],[17] | 10.39% | [10],[12],[14],[18] | |
Par Amount | $ 3,211,000 | [8],[13],[17] | $ 2,629,000 | [10],[14],[18] | |
Cost | 3,150,000 | [1],[8],[13],[17] | 2,572,000 | [4],[10],[14],[18] | |
Fair Value | $ 3,183,000 | [8],[13],[17] | $ 2,575,000 | [10],[14],[18] | |
Percentage of Net Assets | 0.22% | [8],[13],[17] | 0.18% | [10],[14],[18] | |
Investment, Identifier [Axis]: DCA Investment Holdings, LLC 3 | |||||
Variable interest rate | [8],[17] | 6.50% | |||
Interest Rate | [8],[11],[17] | 11.79% | |||
Par Amount | [8],[17] | $ 410,000 | |||
Cost | [1],[8],[17] | 407,000 | |||
Fair Value | [8],[17] | $ 407,000 | |||
Percentage of Net Assets | [8],[17] | 0.03% | |||
Investment, Identifier [Axis]: Diligent Corporation | |||||
Variable interest rate | [8],[19] | 10.50% | |||
Interest Rate | [10],[20] | 10.50% | |||
Par Amount | [8],[19] | $ 5,000 | |||
Par Amount, Shares (in shares) | [10],[20] | 5,000 | |||
Cost | 6,002,000 | [1],[8],[19] | $ 5,693,000 | [4],[10],[20] | |
Fair Value | $ 6,148,000 | [8],[19] | $ 5,766,000 | [10],[20] | |
Percentage of Net Assets | 0.43% | [8],[19] | 0.41% | [10],[20] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 2,340,000 | $ 3,150,000 | |||
Fair Value | $ (26,000) | $ (69,000) | |||
Investment, Identifier [Axis]: Diligent Corporation 1 | |||||
Variable interest rate | 5.75% | [7],[8],[16] | 5.75% | [9],[10],[15] | |
Interest Rate | 10.95% | [7],[8],[11],[16] | 10.13% | [9],[10],[12],[15] | |
Par Amount | $ 27,370,000 | [7],[8],[16] | $ 27,510,000 | [9],[10],[15] | |
Cost | 27,228,000 | [1],[7],[8],[16] | 27,337,000 | [4],[9],[10],[15] | |
Fair Value | $ 27,072,000 | [7],[8],[16] | $ 26,905,000 | [9],[10],[15] | |
Percentage of Net Assets | 1.88% | [7],[8],[16] | 1.93% | [9],[10],[15] | |
Investment, Identifier [Axis]: Diligent Corporation 2 | |||||
Variable interest rate | 6.25% | [7],[8],[16] | 5.75% | [9],[10],[15] | |
Interest Rate | 10.95% | [7],[8],[11],[16] | 10.13% | [9],[10],[12],[15] | |
Par Amount | $ 2,190,000 | [7],[8],[16] | $ 2,201,000 | [9],[10],[15] | |
Cost | 2,179,000 | [1],[7],[8],[16] | 2,187,000 | [4],[9],[10],[15] | |
Fair Value | $ 2,166,000 | [7],[8],[16] | $ 2,152,000 | [9],[10],[15] | |
Percentage of Net Assets | 0.15% | [7],[8],[16] | 0.15% | [9],[10],[15] | |
Investment, Identifier [Axis]: Diligent Corporation 3 | |||||
Variable interest rate | 6.25% | [7],[8],[13] | 6.25% | [9],[10],[14] | |
Interest Rate | 10.95% | [7],[8],[11],[13] | 10.63% | [9],[10],[12],[14] | |
Par Amount | $ 2,160,000 | [7],[8],[13] | $ 1,350,000 | [9],[10],[14] | |
Cost | 2,138,000 | [1],[7],[8],[13] | 1,323,000 | [4],[9],[10],[14] | |
Fair Value | $ 2,111,000 | [7],[8],[13] | $ 1,251,000 | [9],[10],[14] | |
Percentage of Net Assets | 0.15% | [7],[8],[13] | 0.09% | [9],[10],[14] | |
Investment, Identifier [Axis]: Donuts, Inc. | |||||
Variable interest rate | [7],[8],[16] | 6% | |||
Interest Rate | [7],[8],[11],[16] | 11.27% | |||
Par Amount | [7],[8],[16] | $ 24,982,000 | |||
Cost | [1],[7],[8],[16] | 24,721,000 | |||
Fair Value | [7],[8],[16] | $ 24,747,000 | |||
Percentage of Net Assets | [7],[8],[16] | 1.72% | |||
Unused Fee Rate | 0.25% | ||||
Unfunded Commitment | $ 3,166,000 | ||||
Fair Value | $ (80,000) | ||||
Investment, Identifier [Axis]: Donuts, Inc. 1 | |||||
Variable interest rate | [9],[10],[15] | 6% | |||
Interest Rate | [9],[10],[12],[15] | 10.43% | |||
Par Amount | [9],[10],[15] | $ 18,375,000 | |||
Cost | [4],[9],[10],[15] | 18,108,000 | |||
Fair Value | [9],[10],[15] | $ 17,910,000 | |||
Percentage of Net Assets | [9],[10],[15] | 1.28% | |||
Investment, Identifier [Axis]: Donuts, Inc. 2 | |||||
Variable interest rate | [9],[10] | 6% | |||
Interest Rate | [9],[10],[12] | 10.43% | |||
Par Amount | [9],[10] | $ 6,735,000 | |||
Cost | [4],[9],[10] | 6,735,000 | |||
Fair Value | [9],[10] | $ 6,565,000 | |||
Percentage of Net Assets | [9],[10] | 0.47% | |||
Investment, Identifier [Axis]: Donuts, Inc. 3 | |||||
Variable interest rate | [9],[10],[14] | 6% | |||
Interest Rate | [9],[10],[12],[14] | 10.43% | |||
Par Amount | [9],[10],[14] | $ 0 | |||
Cost | [4],[9],[10],[14] | 0 | |||
Fair Value | [9],[10],[14] | $ (80,000) | |||
Percentage of Net Assets | [9],[10],[14] | (0.01%) | |||
Investment, Identifier [Axis]: Dwyer Instruments, Inc. 1 | |||||
Variable interest rate | 5.75% | [8],[17] | 6% | [10],[18] | |
Interest Rate | 11.09% | [8],[11],[17] | 10.73% | [10],[12],[18] | |
Par Amount | $ 8,018,000 | [8],[17] | $ 8,059,000 | [10],[18] | |
Cost | 7,884,000 | [1],[8],[17] | 7,911,000 | [4],[10],[18] | |
Fair Value | $ 7,809,000 | [8],[17] | $ 7,694,000 | [10],[18] | |
Percentage of Net Assets | 0.54% | [8],[17] | 0.55% | [10],[18] | |
Unused Fee Rate | 1% | 1% | |||
Unfunded Commitment | $ 2,028,000 | $ 2,028,000 | |||
Fair Value | $ (53,000) | $ (92,000) | |||
Investment, Identifier [Axis]: Dwyer Instruments, Inc. 2 | |||||
Variable interest rate | 5.75% | [8],[13],[17] | 6% | [10],[14],[18] | |
Interest Rate | 11.09% | [8],[11],[13],[17] | 10.73% | [10],[12],[14],[18] | |
Par Amount | $ 0 | [8],[13],[17] | $ 0 | [10],[14],[18] | |
Cost | (15,000) | [1],[8],[13],[17] | (18,000) | [4],[10],[14],[18] | |
Fair Value | $ (53,000) | [8],[13],[17] | $ (92,000) | [10],[14],[18] | |
Percentage of Net Assets | 0% | [8],[13],[17] | (0.01%) | [10],[14],[18] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 751,000 | $ 855,000 | |||
Fair Value | $ (20,000) | $ (39,000) | |||
Investment, Identifier [Axis]: Dwyer Instruments, Inc. 3 | |||||
Variable interest rate | 5.75% | [8],[13],[17] | 6% | [10],[14],[18] | |
Interest Rate | 11.09% | [8],[11],[13],[17] | 10.73% | [10],[12],[14],[18] | |
Par Amount | $ 263,000 | [8],[13],[17] | $ 158,000 | [10],[14],[18] | |
Cost | 247,000 | [1],[8],[13],[17] | 140,000 | [4],[10],[14],[18] | |
Fair Value | $ 237,000 | [8],[13],[17] | $ 113,000 | [10],[14],[18] | |
Percentage of Net Assets | 0.02% | [8],[13],[17] | 0.01% | [10],[14],[18] | |
Investment, Identifier [Axis]: Encore Holdings, LLC | |||||
Par Amount | [8],[19] | $ 2,796 | |||
Par Amount, Shares (in shares) | [10],[20] | 2,391 | |||
Cost | 348,000 | [1],[8],[19] | $ 275,000 | [4],[10],[20] | |
Fair Value | $ 592,000 | [8],[19] | $ 449,000 | [10],[20] | |
Percentage of Net Assets | 0.04% | [8],[19] | 0.03% | [10],[20] | |
Investment, Identifier [Axis]: Encore Holdings, LLC 1 | |||||
Variable interest rate | 4.50% | [8],[17] | 4.50% | [10],[18] | |
Interest Rate | 9.84% | [8],[11],[17] | 9.23% | [10],[12],[18] | |
Par Amount | $ 1,840,000 | [8],[17] | $ 1,850,000 | [10],[18] | |
Cost | 1,814,000 | [1],[8],[17] | 1,821,000 | [4],[10],[18] | |
Fair Value | $ 1,827,000 | [8],[17] | $ 1,806,000 | [10],[18] | |
Percentage of Net Assets | 0.13% | [8],[17] | 0.13% | [10],[18] | |
Unused Fee Rate | 0.75% | 0.75% | |||
Unfunded Commitment | $ 1,268,000 | $ 1,469,000 | |||
Fair Value | $ (9,000) | $ (35,000) | |||
Investment, Identifier [Axis]: Encore Holdings, LLC 2 | |||||
Variable interest rate | 4.50% | [8],[13],[17] | 4.50% | [10],[14],[18] | |
Interest Rate | 9.84% | [8],[11],[13],[17] | 9.23% | [10],[12],[14],[18] | |
Par Amount | $ 2,304,000 | [8],[13],[17] | $ 2,118,000 | [10],[14],[18] | |
Cost | 2,262,000 | [1],[8],[13],[17] | 2,074,000 | [4],[10],[14],[18] | |
Fair Value | $ 2,279,000 | [8],[13],[17] | $ 2,034,000 | [10],[14],[18] | |
Percentage of Net Assets | 0.16% | [8],[13],[17] | 0.15% | [10],[14],[18] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 539,000 | $ 539,000 | |||
Fair Value | $ (4,000) | $ (13,000) | |||
Investment, Identifier [Axis]: Encore Holdings, LLC 3 | |||||
Variable interest rate | 4.50% | [8],[13],[17] | 4.50% | [10],[14],[18] | |
Interest Rate | 9.84% | [8],[11],[13],[17] | 9.23% | [10],[12],[14],[18] | |
Par Amount | $ 0 | [8],[13],[17] | $ 0 | [10],[14],[18] | |
Cost | (7,000) | [1],[8],[13],[17] | (8,000) | [4],[10],[14],[18] | |
Fair Value | $ (4,000) | [8],[13],[17] | $ (13,000) | [10],[14],[18] | |
Percentage of Net Assets | 0% | [8],[13],[17] | 0% | [10],[14],[18] | |
Investment, Identifier [Axis]: Energy Labs Holdings Corp. | |||||
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 53,000 | ||||
Fair Value | $ (1,000) | ||||
Investment, Identifier [Axis]: Energy Labs Holdings Corp. 1 | |||||
Variable interest rate | 5.25% | [7],[8] | 5.25% | [9],[10] | |
Interest Rate | 10.50% | [7],[8],[11] | 9.57% | [9],[10],[12] | |
Par Amount | $ 386,000 | [7],[8] | $ 388,000 | [9],[10] | |
Cost | 381,000 | [1],[7],[8] | 382,000 | [4],[9],[10] | |
Fair Value | $ 377,000 | [7],[8] | $ 376,000 | [9],[10] | |
Percentage of Net Assets | 0.03% | [7],[8] | 0.03% | [9],[10] | |
Unused Fee Rate | 1% | ||||
Unfunded Commitment | $ 47,000 | ||||
Fair Value | $ (1,000) | ||||
Investment, Identifier [Axis]: Energy Labs Holdings Corp. 2 | |||||
Variable interest rate | 5.25% | [7],[8] | 5.25% | [9],[10],[14] | |
Interest Rate | 10.50% | [7],[8],[11] | 9.57% | [9],[10],[12],[14] | |
Par Amount | $ 37,000 | [7],[8] | $ 0 | [9],[10],[14] | |
Cost | 36,000 | [1],[7],[8] | 0 | [4],[9],[10],[14] | |
Fair Value | $ 36,000 | [7],[8] | $ (2,000) | [9],[10],[14] | |
Percentage of Net Assets | 0% | [7],[8] | 0% | [9],[10],[14] | |
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 45,000 | ||||
Fair Value | $ (1,000) | ||||
Investment, Identifier [Axis]: Energy Labs Holdings Corp. 3 | |||||
Variable interest rate | 5.25% | [7],[8],[13] | 5.25% | [9],[10],[14] | |
Interest Rate | 10.50% | [7],[8],[11],[13] | 9.57% | [9],[10],[12],[14] | |
Par Amount | $ 10,000 | [7],[8],[13] | $ 18,000 | [9],[10],[14] | |
Cost | 9,000 | [1],[7],[8],[13] | 17,000 | [4],[9],[10],[14] | |
Fair Value | $ 9,000 | [7],[8],[13] | $ 16,000 | [9],[10],[14] | |
Percentage of Net Assets | 0% | [7],[8],[13] | 0% | [9],[10],[14] | |
Investment, Identifier [Axis]: Excelitas Technologies Corp. 1 | |||||
Variable interest rate | 5.75% | [8],[17] | 5.75% | [10],[18] | |
Interest Rate | 10.94% | [8],[11],[17] | 10.12% | [10],[12],[18] | |
Par Amount | $ 1,462,000 | [8],[17] | $ 1,378,000 | [10],[18] | |
Cost | 1,436,000 | [1],[8],[17] | 1,351,000 | [4],[10],[18] | |
Fair Value | $ 1,422,000 | [8],[17] | $ 1,311,000 | [10],[18] | |
Percentage of Net Assets | 0.10% | [8],[17] | 0.09% | [10],[18] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 170,000 | $ 262,000 | |||
Fair Value | $ (5,000) | $ (13,000) | |||
Investment, Identifier [Axis]: Excelitas Technologies Corp. 2 | |||||
Variable interest rate | 5.75% | [8],[17] | 5.75% | [10],[18] | |
Interest Rate | 9.05% | [8],[11],[17] | 7.55% | [10],[12],[18] | |
Par Amount | $ 241,000 | [8],[17] | $ 242,000 | [10],[18] | |
Cost | 244,000 | [1],[8],[17] | 245,000 | [4],[10],[18] | |
Fair Value | $ 255,000 | [8],[17] | $ 246,000 | [10],[18] | |
Percentage of Net Assets | 0.02% | [8],[17] | 0.02% | [10],[18] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 62,000 | $ 57,000 | |||
Fair Value | $ (2,000) | $ (3,000) | |||
Investment, Identifier [Axis]: Excelitas Technologies Corp. 3 | |||||
Variable interest rate | 5.75% | [8],[13],[17] | 5.75% | [10],[14],[18] | |
Interest Rate | 10.94% | [8],[11],[13],[17] | 10.12% | [10],[12],[14],[18] | |
Par Amount | $ 0 | [8],[13],[17] | $ 0 | [10],[14],[18] | |
Cost | (2,000) | [1],[8],[13],[17] | (2,000) | [4],[10],[14],[18] | |
Fair Value | $ (5,000) | [8],[13],[17] | $ (13,000) | [10],[14],[18] | |
Percentage of Net Assets | 0% | [8],[13],[17] | 0% | [10],[14],[18] | |
Investment, Identifier [Axis]: Excelitas Technologies Corp. 4 | |||||
Variable interest rate | 5.75% | [8],[13],[17] | 5.75% | [10],[14],[18] | |
Interest Rate | 10.94% | [8],[11],[13],[17] | 10.12% | [10],[12],[14],[18] | |
Par Amount | $ 69,000 | [8],[13],[17] | $ 74,000 | [10],[14],[18] | |
Cost | 67,000 | [1],[8],[13],[17] | 72,000 | [4],[10],[14],[18] | |
Fair Value | $ 65,000 | [8],[13],[17] | $ 68,000 | [10],[14],[18] | |
Percentage of Net Assets | 0% | [8],[13],[17] | 0% | [10],[14],[18] | |
Investment, Identifier [Axis]: FLS Holding, Inc. | |||||
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 1,802,000 | $ 1,802,000 | |||
Fair Value | $ (22,000) | $ (29,000) | |||
Investment, Identifier [Axis]: FLS Holding, Inc. 1 | |||||
Variable interest rate | 5.25% | [7],[8],[23] | 5.25% | [9],[10],[22] | |
Interest Rate | 10.79% | [7],[8],[11],[23] | 10.40% | [9],[10],[12],[22] | |
Par Amount | $ 20,623,000 | [7],[8],[23] | $ 20,727,000 | [9],[10],[22] | |
Cost | 20,282,000 | [1],[7],[8],[23] | 20,361,000 | [4],[9],[10],[22] | |
Fair Value | $ 20,376,000 | [7],[8],[23] | $ 20,389,000 | [9],[10],[22] | |
Percentage of Net Assets | 1.41% | [7],[8],[23] | 1.46% | [9],[10],[22] | |
Investment, Identifier [Axis]: FLS Holding, Inc. 2 | |||||
Variable interest rate | 5.25% | [7],[8],[23] | 5.25% | [9],[10],[22] | |
Interest Rate | 10.79% | [7],[8],[11],[23] | 10.40% | [9],[10],[12],[22] | |
Par Amount | $ 4,483,000 | [7],[8],[23] | $ 4,506,000 | [9],[10],[22] | |
Cost | 4,407,000 | [1],[7],[8],[23] | 4,424,000 | [4],[9],[10],[22] | |
Fair Value | $ 4,430,000 | [7],[8],[23] | $ 4,432,000 | [9],[10],[22] | |
Percentage of Net Assets | 0.31% | [7],[8],[23] | 0.32% | [9],[10],[22] | |
Investment, Identifier [Axis]: FLS Holding, Inc. 3 | |||||
Variable interest rate | 5.25% | [7],[8],[13],[23] | 5.25% | [9],[10],[14],[22] | |
Interest Rate | 10.79% | [7],[8],[11],[13],[23] | 10.40% | [9],[10],[12],[14],[22] | |
Par Amount | $ 0 | [7],[8],[13],[23] | $ 0 | [9],[10],[14],[22] | |
Cost | (27,000) | [1],[7],[8],[13],[23] | (30,000) | [4],[9],[10],[14],[22] | |
Fair Value | $ (22,000) | [7],[8],[13],[23] | $ (29,000) | [9],[10],[14],[22] | |
Percentage of Net Assets | 0% | [7],[8],[13],[23] | 0% | [9],[10],[14],[22] | |
Investment, Identifier [Axis]: FMG Suite Holdings, LLC | |||||
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 2,336,000 | $ 2,074,000 | |||
Fair Value | $ (37,000) | $ (44,000) | |||
Investment, Identifier [Axis]: FMG Suite Holdings, LLC 1 | |||||
Variable interest rate | 5.25% | [7],[8] | 5.50% | [9],[10] | |
Interest Rate | 10.69% | [7],[8],[11] | 9.34% | [9],[10],[12] | |
Par Amount | $ 24,050,000 | [7],[8] | $ 24,060,000 | [9],[10] | |
Cost | 23,729,000 | [1],[7],[8] | 23,699,000 | [4],[9],[10] | |
Fair Value | $ 23,673,000 | [7],[8] | $ 23,546,000 | [9],[10] | |
Percentage of Net Assets | 1.64% | [7],[8] | 1.69% | [9],[10] | |
Investment, Identifier [Axis]: FMG Suite Holdings, LLC 2 | |||||
Variable interest rate | 5.25% | [7],[8] | 5.50% | [9],[10] | |
Interest Rate | 10.69% | [7],[8],[11] | 9.34% | [9],[10],[12] | |
Par Amount | $ 5,198,000 | [7],[8] | $ 5,224,000 | [9],[10] | |
Cost | 5,135,000 | [1],[7],[8] | 5,151,000 | [4],[9],[10] | |
Fair Value | $ 5,116,000 | [7],[8] | $ 5,112,000 | [9],[10] | |
Percentage of Net Assets | 0.36% | [7],[8] | 0.37% | [9],[10] | |
Investment, Identifier [Axis]: FMG Suite Holdings, LLC 3 | |||||
Variable interest rate | 5.25% | [7],[8] | 5.50% | [9],[10],[14] | |
Interest Rate | 10.69% | [7],[8],[11] | 9.34% | [9],[10],[12],[14] | |
Par Amount | $ 289,000 | [7],[8] | $ 551,000 | [9],[10],[14] | |
Cost | 257,000 | [1],[7],[8] | 515,000 | [4],[9],[10],[14] | |
Fair Value | $ 248,000 | [7],[8] | $ 495,000 | [9],[10],[14] | |
Percentage of Net Assets | 0.02% | [7],[8] | 0.04% | [9],[10],[14] | |
Investment, Identifier [Axis]: FORTIS Solutions Group, LLC | |||||
Variable interest rate | [8],[19] | 12.25% | |||
Par Amount | [8],[19] | $ 1,000,000 | |||
Cost | [1],[8],[19] | 1,108,000 | |||
Fair Value | [8],[19] | $ 970,000 | |||
Percentage of Net Assets | [8],[19] | 0.07% | |||
Investment, Identifier [Axis]: FORTIS Solutions Group, LLC 1 | |||||
Variable interest rate | [8],[17] | 5.50% | |||
Interest Rate | [8],[11],[17] | 10.84% | |||
Par Amount | [8],[17] | $ 26,844,000 | |||
Cost | [1],[8],[17] | 26,409,000 | |||
Fair Value | [8],[17] | $ 26,452,000 | |||
Percentage of Net Assets | [8],[17] | 1.84% | |||
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 994,000 | ||||
Fair Value | $ (14,000) | ||||
Investment, Identifier [Axis]: FORTIS Solutions Group, LLC 2 | |||||
Variable interest rate | [8],[13],[17] | 5.50% | |||
Interest Rate | [8],[11],[13],[17] | 10.84% | |||
Par Amount | [8],[13],[17] | $ 76,000 | |||
Cost | [1],[8],[13],[17] | 75,000 | |||
Fair Value | [8],[13],[17] | $ 75,000 | |||
Percentage of Net Assets | [8],[13],[17] | 0.01% | |||
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 2,339,000 | ||||
Fair Value | $ (34,000) | ||||
Investment, Identifier [Axis]: FORTIS Solutions Group, LLC 3 | |||||
Variable interest rate | [8],[13],[17] | 5.50% | |||
Interest Rate | [8],[11],[13],[17] | 10.84% | |||
Par Amount | [8],[13],[17] | $ 6,000 | |||
Cost | [1],[8],[13],[17] | 0 | |||
Fair Value | [8],[13],[17] | $ (9,000) | |||
Percentage of Net Assets | [8],[13],[17] | 0% | |||
Investment, Identifier [Axis]: FORTIS Solutions Group, LLC 4 | |||||
Variable interest rate | [8],[13],[17] | 5.50% | |||
Interest Rate | [8],[11],[13],[17] | 10.84% | |||
Par Amount | [8],[13],[17] | $ 360,000 | |||
Cost | [1],[8],[13],[17] | 321,000 | |||
Fair Value | [8],[13],[17] | $ 321,000 | |||
Percentage of Net Assets | [8],[13],[17] | 0.02% | |||
Investment, Identifier [Axis]: FPG Intermediate Holdco, LLC | |||||
Variable interest rate | 6.50% | [7],[8] | 6.50% | [9],[10] | |
Interest Rate | 11.91% | [7],[8],[11] | 10.92% | [9],[10],[12] | |
Par Amount | $ 423,000 | [7],[8] | $ 497,000 | [9],[10] | |
Cost | 416,000 | [1],[7],[8] | 488,000 | [4],[9],[10] | |
Fair Value | $ 409,000 | [7],[8] | $ 472,000 | [9],[10] | |
Percentage of Net Assets | 0.03% | [7],[8] | 0.03% | [9],[10] | |
Investment, Identifier [Axis]: Familia Intermediate Holdings I Corp. (Teasdale Latin Foods) | |||||
Interest rate, PIK | 1,625% | 16.25% | [10],[12],[24] | ||
Par Amount | $ 1,500,000 | [8],[25] | $ 1,500,000 | [10],[24] | |
Cost | 1,500,000 | [1],[8],[25] | 1,500,000 | [4],[10],[24] | |
Fair Value | $ 610,000 | [8],[25] | $ 372,000 | [10],[24] | |
Percentage of Net Assets | 0.04% | [8],[25] | 0.03% | [10],[24] | |
Investment, Identifier [Axis]: Fetch Insurance Services, LLC | |||||
Variable interest rate | 1,275% | ||||
Interest rate, PIK | 375% | ||||
Par Amount | [8] | $ 1,917,000 | |||
Cost | [1],[8] | 1,866,000 | |||
Fair Value | [8] | $ 1,859,000 | |||
Percentage of Net Assets | [8] | 0.13% | |||
Investment, Identifier [Axis]: Fetch Insurance Services, LLC (Fetch) | |||||
Interest rate, PIK | [10],[12] | 3.75% | |||
Interest Rate | [10],[12] | 12.75% | |||
Par Amount | [10] | $ 1,881,000 | |||
Cost | [4],[10] | 1,826,000 | |||
Fair Value | [10] | $ 1,826,000 | |||
Percentage of Net Assets | [10] | 0.13% | |||
Investment, Identifier [Axis]: Flexera Software, LLC | |||||
Variable interest rate | 7% | [7],[8] | 7% | [9],[10] | |
Interest Rate | 12.22% | [7],[8],[11] | 11.39% | [9],[10],[12] | |
Par Amount | $ 13,500,000 | [7],[8] | $ 13,500,000 | [9],[10] | |
Cost | 13,290,000 | [1],[7],[8] | 13,277,000 | [4],[9],[10] | |
Fair Value | $ 13,238,000 | [7],[8] | $ 12,584,000 | [9],[10] | |
Percentage of Net Assets | 0.92% | [7],[8] | 0.90% | [9],[10] | |
Investment, Identifier [Axis]: Fortis Solutions Group, LLC | |||||
Interest Rate | [10],[20] | 12.25% | |||
Par Amount, Shares (in shares) | [10],[20] | 1,000,000 | |||
Cost | [4],[10],[20] | $ 1,041,000 | |||
Fair Value | [10],[20] | $ 1,024,000 | |||
Percentage of Net Assets | [10],[20] | 0.07% | |||
Investment, Identifier [Axis]: Fortis Solutions Group, LLC 1 | |||||
Variable interest rate | [10],[18] | 5.50% | |||
Interest Rate | [10],[12],[18] | 9.73% | |||
Par Amount | [10],[18] | $ 26,980,000 | |||
Cost | [4],[10],[18] | 26,513,000 | |||
Fair Value | [10],[18] | $ 26,101,000 | |||
Percentage of Net Assets | [10],[18] | 1.87% | |||
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 76,000 | ||||
Fair Value | $ (2,000) | ||||
Investment, Identifier [Axis]: Fortis Solutions Group, LLC 2 | |||||
Variable interest rate | [10],[14],[18] | 5.50% | |||
Interest Rate | [10],[12],[14],[18] | 9.73% | |||
Par Amount | [10],[14],[18] | $ 0 | |||
Cost | [4],[10],[14],[18] | (2,000) | |||
Fair Value | [10],[14],[18] | $ (3,000) | |||
Percentage of Net Assets | [10],[14],[18] | 0% | |||
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 1,000,000 | ||||
Fair Value | $ (33,000) | ||||
Investment, Identifier [Axis]: Fortis Solutions Group, LLC 3 | |||||
Variable interest rate | [10],[14],[18] | 5.50% | |||
Interest Rate | [10],[12],[14],[18] | 9.73% | |||
Par Amount | [10],[14],[18] | $ 0 | |||
Cost | [4],[10],[14],[18] | (7,000) | |||
Fair Value | [10],[14],[18] | $ (33,000) | |||
Percentage of Net Assets | [10],[14],[18] | 0% | |||
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 2,339,000 | ||||
Fair Value | $ (76,000) | ||||
Investment, Identifier [Axis]: Fortis Solutions Group, LLC 4 | |||||
Variable interest rate | [10],[14],[18] | 5.50% | |||
Interest Rate | [10],[12],[14],[18] | 9.73% | |||
Par Amount | [10],[14],[18] | $ 360,000 | |||
Cost | [4],[10],[14],[18] | 317,000 | |||
Fair Value | [10],[14],[18] | $ 272,000 | |||
Percentage of Net Assets | [10],[14],[18] | 0.02% | |||
Investment, Identifier [Axis]: Foundation Risk Partners Corp. | |||||
Unused Fee Rate | 0.38% | 0.38% | |||
Unfunded Commitment | $ 4,571,000 | $ 2,689,000 | |||
Fair Value | $ (311,000) | $ (47,000) | |||
Investment, Identifier [Axis]: Foundation Risk Partners Corp. 1 | |||||
Variable interest rate | 6.25% | [8],[17] | 6% | [10],[18] | |
Interest Rate | 11.85% | [8],[11],[17] | 10.68% | [10],[12],[18] | |
Par Amount | $ 42,750,000 | [8],[17] | $ 42,966,000 | [10],[18] | |
Cost | 42,230,000 | [1],[8],[17] | 42,408,000 | [4],[10],[18] | |
Fair Value | $ 39,838,000 | [8],[17] | $ 42,218,000 | [10],[18] | |
Percentage of Net Assets | 2.77% | [8],[17] | 3.02% | [10],[18] | |
Investment, Identifier [Axis]: Foundation Risk Partners Corp. 2 | |||||
Variable interest rate | 6.25% | [8],[17] | 6% | [10],[18] | |
Interest Rate | 11.85% | [8],[11],[17] | 10.68% | [10],[12],[18] | |
Par Amount | $ 9,298,000 | [8],[17] | $ 9,345,000 | [10],[18] | |
Cost | 9,184,000 | [1],[8],[17] | 9,222,000 | [4],[10],[18] | |
Fair Value | $ 8,664,000 | [8],[17] | $ 9,182,000 | [10],[18] | |
Percentage of Net Assets | 0.60% | [8],[17] | 0.66% | [10],[18] | |
Investment, Identifier [Axis]: Foundation Risk Partners Corp. 3 | |||||
Variable interest rate | 6.25% | [8],[13],[17] | 6% | [10],[14],[18] | |
Interest Rate | 11.85% | [8],[11],[13],[17] | 10.32% | [10],[12],[14],[18] | |
Par Amount | $ 0 | [8],[13],[17] | $ 1,882,000 | [10],[14],[18] | |
Cost | (49,000) | [1],[8],[13],[17] | 1,827,000 | [4],[10],[14],[18] | |
Fair Value | $ (311,000) | [8],[13],[17] | $ 1,803,000 | [10],[14],[18] | |
Percentage of Net Assets | (0.02%) | [8],[13],[17] | 0.13% | [10],[14],[18] | |
Investment, Identifier [Axis]: Frisbee Holding, LP (Fetch) | |||||
Par Amount, Shares (in shares) | [10],[20] | 21,744 | |||
Cost | [4],[10],[20] | $ 277,000 | |||
Fair Value | [10],[20] | $ 277,000 | |||
Percentage of Net Assets | [10],[20] | 0.02% | |||
Investment, Identifier [Axis]: Frisbee Holdings, LP (Fetch) | |||||
Par Amount | [8],[19] | $ 21,744 | |||
Cost | [1],[8],[19] | 277,000 | |||
Fair Value | [8],[19] | $ 277,000 | |||
Percentage of Net Assets | [8],[19] | 0.02% | |||
Investment, Identifier [Axis]: GS AcquisitionCo, Inc. | |||||
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 1,613,000 | $ 2,420,000 | |||
Fair Value | $ (12,000) | $ (58,000) | |||
Investment, Identifier [Axis]: GS AcquisitionCo, Inc. 1 | |||||
Variable interest rate | 5.75% | [7],[8],[16] | 5.75% | [9],[10],[15] | |
Interest Rate | 11.14% | [7],[8],[11],[16] | 9.91% | [9],[10],[12],[15] | |
Par Amount | $ 75,536,000 | [7],[8],[16] | $ 75,927,000 | [9],[10],[15] | |
Cost | 75,107,000 | [1],[7],[8],[16] | 75,432,000 | [4],[9],[10],[15] | |
Fair Value | $ 74,969,000 | [7],[8],[16] | $ 74,120,000 | [9],[10],[15] | |
Percentage of Net Assets | 5.21% | [7],[8],[16] | 5.30% | [9],[10],[15] | |
Investment, Identifier [Axis]: GS AcquisitionCo, Inc. 2 | |||||
Variable interest rate | 5.75% | [7],[8],[13] | 5.75% | [9],[10] | |
Interest Rate | 11.14% | [7],[8],[11],[13] | 9.91% | [9],[10],[12] | |
Par Amount | $ 807,000 | [7],[8],[13] | $ 0 | [9],[10] | |
Cost | 790,000 | [1],[7],[8],[13] | 0 | [4],[9],[10] | |
Fair Value | $ 788,000 | [7],[8],[13] | $ 0 | [9],[10] | |
Percentage of Net Assets | 0.05% | [7],[8],[13] | 0% | [9],[10] | |
Investment, Identifier [Axis]: GS AcquisitionCo, Inc. 3 | |||||
Variable interest rate | [9],[10],[14] | 5.75% | |||
Interest Rate | [9],[10],[12],[14] | 9.91% | |||
Par Amount | [9],[10],[14] | $ 0 | |||
Cost | [4],[9],[10],[14] | (19,000) | |||
Fair Value | [9],[10],[14] | $ (58,000) | |||
Percentage of Net Assets | [9],[10],[14] | 0% | |||
Investment, Identifier [Axis]: GSM Acquisition Corp. | |||||
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 4,280,000 | ||||
Fair Value | $ (62,000) | ||||
Investment, Identifier [Axis]: GSM Acquisition Corp. (GSM Outdoors) | |||||
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 4,280,000 | ||||
Fair Value | $ (170,000) | ||||
Investment, Identifier [Axis]: GSM Acquisition Corp. (GSM Outdoors) 1 | |||||
Variable interest rate | 5% | [7],[8],[16] | 5% | [9],[10],[15] | |
Interest Rate | 10.50% | [7],[8],[11],[16] | 9.84% | [9],[10],[12],[15] | |
Par Amount | $ 17,358,000 | [7],[8],[16] | $ 17,447,000 | [9],[10],[15] | |
Cost | 17,245,000 | [1],[7],[8],[16] | 17,319,000 | [4],[9],[10],[15] | |
Fair Value | $ 16,669,000 | [7],[8],[16] | $ 17,194,000 | [9],[10],[15] | |
Percentage of Net Assets | 1.16% | [7],[8],[16] | 1.23% | [9],[10],[15] | |
Investment, Identifier [Axis]: GSM Acquisition Corp. (GSM Outdoors) 2 | |||||
Variable interest rate | 5% | [7],[8] | 5% | [9],[10] | |
Interest Rate | 10.50% | [7],[8],[11] | 9.84% | [9],[10],[12] | |
Par Amount | $ 4,467,000 | [7],[8] | $ 4,490,000 | [9],[10] | |
Cost | 4,428,000 | [1],[7],[8] | 4,446,000 | [4],[9],[10] | |
Fair Value | $ 4,290,000 | [7],[8] | $ 4,425,000 | [9],[10] | |
Percentage of Net Assets | 0.30% | [7],[8] | 0.32% | [9],[10] | |
Investment, Identifier [Axis]: GSM Acquisition Corp. (GSM Outdoors) 3 | |||||
Variable interest rate | 5% | [7],[8],[13] | 5% | [9],[10],[14] | |
Interest Rate | 10.50% | [7],[8],[11],[13] | 9.84% | [9],[10],[12],[14] | |
Par Amount | $ 0 | [7],[8],[13] | $ 0 | [9],[10],[14] | |
Cost | (34,000) | [1],[7],[8],[13] | (39,000) | [4],[9],[10],[14] | |
Fair Value | $ (170,000) | [7],[8],[13] | $ (62,000) | [9],[10],[14] | |
Percentage of Net Assets | (0.01%) | [7],[8],[13] | 0% | [9],[10],[14] | |
Investment, Identifier [Axis]: GSM Equity Investors, LP (GSM Outdoors) | |||||
Par Amount | [8],[19] | $ 4,500 | |||
Par Amount, Shares (in shares) | [10],[20] | 4,500 | |||
Cost | 450,000 | [1],[8],[19] | $ 450,000 | [4],[10],[20] | |
Fair Value | $ 660,000 | [8],[19] | $ 916,000 | [10],[20] | |
Percentage of Net Assets | 0.05% | [8],[19] | 0.07% | [10],[20] | |
Investment, Identifier [Axis]: Galway Borrower, LLC 1 | |||||
Variable interest rate | 5.25% | [8],[17] | 5.25% | [10],[18] | |
Interest Rate | 10.71% | [8],[11],[17] | 9.98% | [10],[12],[18] | |
Par Amount | $ 33,167,000 | [8],[17] | $ 32,271,000 | [10],[18] | |
Cost | 32,638,000 | [1],[8],[17] | 31,721,000 | [4],[10],[18] | |
Fair Value | $ 31,983,000 | [8],[17] | $ 30,880,000 | [10],[18] | |
Percentage of Net Assets | 2.22% | [8],[17] | 2.21% | [10],[18] | |
Unused Fee Rate | 1% | 0.50% | |||
Unfunded Commitment | $ 298,000 | $ 298,000 | |||
Fair Value | $ (11,000) | $ (12,000) | |||
Investment, Identifier [Axis]: Galway Borrower, LLC 2 | |||||
Variable interest rate | 5.25% | [8],[13],[17] | 5.25% | [10],[14],[18] | |
Interest Rate | 10.71% | [8],[11],[13],[17] | 9.98% | [10],[12],[14],[18] | |
Par Amount | $ 0 | [8],[13],[17] | $ 0 | [10],[14],[18] | |
Cost | (23,000) | [1],[8],[13],[17] | (7,000) | [4],[10],[14],[18] | |
Fair Value | $ (59,000) | [8],[13],[17] | $ (13,000) | [10],[14],[18] | |
Percentage of Net Assets | 0% | [8],[13],[17] | 0% | [10],[14],[18] | |
Unused Fee Rate | 1% | 0.50% | |||
Unfunded Commitment | $ 1,712,000 | $ 2,053,000 | |||
Fair Value | $ (48,000) | $ (88,000) | |||
Investment, Identifier [Axis]: Galway Borrower, LLC 3 | |||||
Variable interest rate | 5.25% | [8],[13],[17] | 5.25% | [10],[14],[18] | |
Interest Rate | 10.71% | [8],[11],[13],[17] | 9.98% | [10],[12],[14],[18] | |
Par Amount | $ 0 | [8],[13],[17] | $ 0 | [10],[14],[18] | |
Cost | (29,000) | [1],[8],[13],[17] | (32,000) | [4],[10],[14],[18] | |
Fair Value | $ (74,000) | [8],[13],[17] | $ (88,000) | [10],[14],[18] | |
Percentage of Net Assets | (0.01%) | [8],[13],[17] | (0.01%) | [10],[14],[18] | |
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 2,053,000 | ||||
Fair Value | $ (74,000) | ||||
Investment, Identifier [Axis]: Gateway US Holdings, Inc. 1 | |||||
Variable interest rate | 6.50% | [8],[17],[23] | 6.50% | [10],[18],[22] | |
Interest Rate | 11.89% | [8],[11],[17],[23] | 11.23% | [10],[12],[18],[22] | |
Par Amount | $ 752,000 | [8],[17],[23] | $ 750,000 | [10],[18],[22] | |
Cost | 746,000 | [1],[8],[17],[23] | 744,000 | [4],[10],[18],[22] | |
Fair Value | $ 747,000 | [8],[17],[23] | $ 736,000 | [10],[18],[22] | |
Percentage of Net Assets | 0.05% | [8],[17],[23] | 0.05% | [10],[18],[22] | |
Unused Fee Rate | 1% | 1% | |||
Unfunded Commitment | $ 6,000 | $ 6,000 | |||
Fair Value | $ 0 | $ 0 | |||
Investment, Identifier [Axis]: Gateway US Holdings, Inc. 2 | |||||
Variable interest rate | 6.50% | [8],[13],[17],[23] | 6.50% | [10],[14],[18],[22] | |
Interest Rate | 11.89% | [8],[11],[13],[17],[23] | 11.23% | [10],[12],[14],[18],[22] | |
Par Amount | $ 206,000 | [8],[13],[17],[23] | $ 165,000 | [10],[14],[18],[22] | |
Cost | 204,000 | [1],[8],[13],[17],[23] | 164,000 | [4],[10],[14],[18],[22] | |
Fair Value | $ 204,000 | [8],[13],[17],[23] | $ 162,000 | [10],[14],[18],[22] | |
Percentage of Net Assets | 0.01% | [8],[13],[17],[23] | 0.01% | [10],[14],[18],[22] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 30,000 | $ 14,000 | |||
Fair Value | $ 0 | $ 0 | |||
Investment, Identifier [Axis]: Gateway US Holdings, Inc. 3 | |||||
Variable interest rate | 6.50% | [8],[13],[17],[23] | 6.50% | [10],[14],[18],[22] | |
Interest Rate | 11.89% | [8],[11],[13],[17],[23] | 11.23% | [10],[12],[14],[18],[22] | |
Par Amount | $ 0 | [8],[13],[17],[23] | $ 17,000 | [10],[14],[18],[22] | |
Cost | 0 | [1],[8],[13],[17],[23] | 16,000 | [4],[10],[14],[18],[22] | |
Fair Value | $ 0 | [8],[13],[17],[23] | $ 16,000 | [10],[14],[18],[22] | |
Percentage of Net Assets | 0% | [8],[13],[17],[23] | 0% | [10],[14],[18],[22] | |
Investment, Identifier [Axis]: Govbrands Intermediate, Inc. 1 | |||||
Variable interest rate | [10],[15],[18] | 5.50% | |||
Interest Rate | [10],[12],[15],[18] | 10.23% | |||
Par Amount | [10],[15],[18] | $ 39,759,000 | |||
Cost | [4],[10],[15],[18] | 38,962,000 | |||
Fair Value | [10],[15],[18] | $ 37,942,000 | |||
Percentage of Net Assets | [10],[15],[18] | 2.72% | |||
Unused Fee Rate | 1% | ||||
Unfunded Commitment | $ 4,185,000 | ||||
Fair Value | $ (191,000) | ||||
Investment, Identifier [Axis]: Govbrands Intermediate, Inc. 2 | |||||
Variable interest rate | [10],[14],[18] | 5.50% | |||
Interest Rate | [10],[12],[14],[18] | 10.23% | |||
Par Amount | [10],[14],[18] | $ 8,969,000 | |||
Cost | [4],[10],[14],[18] | 8,751,000 | |||
Fair Value | [10],[14],[18] | $ 8,367,000 | |||
Percentage of Net Assets | [10],[14],[18] | 0.60% | |||
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 424,000 | ||||
Fair Value | $ (19,000) | ||||
Investment, Identifier [Axis]: Govbrands Intermediate, Inc. 3 | |||||
Variable interest rate | [10],[14],[18] | 5.50% | |||
Interest Rate | [10],[12],[14],[18] | 10.23% | |||
Par Amount | [10],[14],[18] | $ 3,814,000 | |||
Cost | [4],[10],[14],[18] | 3,733,000 | |||
Fair Value | [10],[14],[18] | $ 3,620,000 | |||
Percentage of Net Assets | [10],[14],[18] | 0.26% | |||
Investment, Identifier [Axis]: GraphPad Software, LLC | |||||
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 1,750,000 | $ 1,750,000 | |||
Fair Value | $ (31,000) | $ (58,000) | |||
Investment, Identifier [Axis]: GraphPad Software, LLC 1 | |||||
Variable interest rate | 5.50% | [7],[8],[16] | 5.50% | [9],[10],[15] | |
Interest Rate | 10.71% | [7],[8],[11],[16] | 10.39% | [9],[10],[12],[15] | |
Par Amount | $ 14,882,000 | [7],[8],[16] | $ 12,066,000 | [9],[10],[15] | |
Cost | 14,778,000 | [1],[7],[8],[16] | 11,974,000 | [4],[9],[10],[15] | |
Fair Value | $ 14,619,000 | [7],[8],[16] | $ 11,668,000 | [9],[10],[15] | |
Percentage of Net Assets | 1.02% | [7],[8],[16] | 0.84% | [9],[10],[15] | |
Investment, Identifier [Axis]: GraphPad Software, LLC 2 | |||||
Variable interest rate | 5.50% | [7],[8],[13] | 5.50% | [9],[10] | |
Interest Rate | 10.71% | [7],[8],[11],[13] | 10.39% | [9],[10],[12] | |
Par Amount | $ 0 | [7],[8],[13] | $ 2,892,000 | [9],[10] | |
Cost | (11,000) | [1],[7],[8],[13] | 2,869,000 | [4],[9],[10] | |
Fair Value | $ (31,000) | [7],[8],[13] | $ 2,797,000 | [9],[10] | |
Percentage of Net Assets | 0% | [7],[8],[13] | 0.20% | [9],[10] | |
Investment, Identifier [Axis]: GraphPad Software, LLC 3 | |||||
Variable interest rate | [9],[10],[14] | 5.50% | |||
Interest Rate | [9],[10],[12],[14] | 10.39% | |||
Par Amount | [9],[10],[14] | $ 0 | |||
Cost | [4],[9],[10],[14] | (13,000) | |||
Fair Value | [9],[10],[14] | $ (58,000) | |||
Percentage of Net Assets | [9],[10],[14] | 0% | |||
Investment, Identifier [Axis]: Ground Penetrating Radar Systems, LLC | |||||
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 656,000 | $ 1,181,000 | |||
Fair Value | $ (11,000) | $ (30,000) | |||
Investment, Identifier [Axis]: Ground Penetrating Radar Systems, LLC 1 | |||||
Variable interest rate | 4.75% | [7],[8],[16] | 4.75% | [9],[10],[15] | |
Interest Rate | 9.89% | [7],[8],[11],[16] | 9.39% | [9],[10],[12],[15] | |
Par Amount | $ 10,254,000 | [7],[8],[16] | $ 10,306,000 | [9],[10],[15] | |
Cost | 10,132,000 | [1],[7],[8],[16] | 10,166,000 | [4],[9],[10],[15] | |
Fair Value | $ 10,075,000 | [7],[8],[16] | $ 10,045,000 | [9],[10],[15] | |
Percentage of Net Assets | 0.70% | [7],[8],[16] | 0.72% | [9],[10],[15] | |
Investment, Identifier [Axis]: Ground Penetrating Radar Systems, LLC 2 | |||||
Variable interest rate | 4.75% | [7],[8],[13] | 4.75% | [9],[10],[14] | |
Interest Rate | 9.89% | [7],[8],[11],[13] | 9.39% | [9],[10],[12],[14] | |
Par Amount | $ 984,000 | [7],[8],[13] | $ 459,000 | [9],[10],[14] | |
Cost | 969,000 | [1],[7],[8],[13] | 440,000 | [4],[9],[10],[14] | |
Fair Value | $ 956,000 | [7],[8],[13] | $ 418,000 | [9],[10],[14] | |
Percentage of Net Assets | 0.07% | [7],[8],[13] | 0.03% | [9],[10],[14] | |
Investment, Identifier [Axis]: Groundworks, LLC 1 | |||||
Variable interest rate | [7],[8],[16] | 6.50% | |||
Interest Rate | [7],[8],[11],[16] | 11.65% | |||
Par Amount | [7],[8],[16] | $ 1,059,000 | |||
Cost | [1],[7],[8],[16] | 1,029,000 | |||
Fair Value | [7],[8],[16] | $ 1,034,000 | |||
Percentage of Net Assets | [7],[8],[16] | 0.07% | |||
Unused Fee Rate | 1% | ||||
Unfunded Commitment | $ 193,000 | ||||
Fair Value | $ (5,000) | ||||
Investment, Identifier [Axis]: Groundworks, LLC 2 | |||||
Variable interest rate | [7],[8],[13] | 6.50% | |||
Interest Rate | [7],[8],[11],[13] | 11.65% | |||
Par Amount | [7],[8],[13] | $ 0 | |||
Cost | [1],[7],[8],[13] | (3,000) | |||
Fair Value | [7],[8],[13] | $ (5,000) | |||
Percentage of Net Assets | [7],[8],[13] | 0% | |||
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 62,000 | ||||
Fair Value | $ (1,000) | ||||
Investment, Identifier [Axis]: Groundworks, LLC 3 | |||||
Variable interest rate | [7],[8],[13] | 6.50% | |||
Interest Rate | [7],[8],[11],[13] | 11.65% | |||
Par Amount | [7],[8],[13] | $ 0 | |||
Cost | [1],[7],[8],[13] | (2,000) | |||
Fair Value | [7],[8],[13] | $ (1,000) | |||
Percentage of Net Assets | [7],[8],[13] | 0% | |||
Investment, Identifier [Axis]: Gurobi Optimization, LLC | |||||
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 1,607,000 | $ 1,607,000 | |||
Fair Value | $ 0 | $ 0 | |||
Investment, Identifier [Axis]: Gurobi Optimization, LLC 1 | |||||
Variable interest rate | 5% | [7],[8],[16] | 5% | [9],[10],[15] | |
Interest Rate | 10.39% | [7],[8],[11],[16] | 9.38% | [9],[10],[12],[15] | |
Par Amount | $ 13,025,000 | [7],[8],[16] | $ 13,091,000 | [9],[10],[15] | |
Cost | 13,003,000 | [1],[7],[8],[16] | 13,048,000 | [4],[9],[10],[15] | |
Fair Value | $ 13,025,000 | [7],[8],[16] | $ 13,091,000 | [9],[10],[15] | |
Percentage of Net Assets | 0.90% | [7],[8],[16] | 0.94% | [9],[10],[15] | |
Investment, Identifier [Axis]: Gurobi Optimization, LLC 2 | |||||
Variable interest rate | 5% | [7],[8],[13] | 5% | [9],[10],[14] | |
Interest Rate | 10.39% | [7],[8],[11],[13] | 9.38% | [9],[10],[12],[14] | |
Par Amount | $ 0 | [7],[8],[13] | $ 0 | [9],[10],[14] | |
Cost | (2,000) | [1],[7],[8],[13] | (5,000) | [4],[9],[10],[14] | |
Fair Value | $ 0 | [7],[8],[13] | $ 0 | [9],[10],[14] | |
Percentage of Net Assets | 0% | [7],[8],[13] | 0% | [9],[10],[14] | |
Investment, Identifier [Axis]: Heartland Home Services | |||||
Variable interest rate | [8],[13],[17] | 5.75% | |||
Interest Rate | [8],[11],[13],[17] | 10.96% | |||
Par Amount | [8],[13],[17] | $ 1,955,000 | |||
Cost | [1],[8],[13],[17] | 1,940,000 | |||
Fair Value | [8],[13],[17] | $ 1,923,000 | |||
Percentage of Net Assets | [8],[13],[17] | 0.13% | |||
Unused Fee Rate | 0.75% | ||||
Unfunded Commitment | $ 524,000 | ||||
Fair Value | $ (7,000) | ||||
Investment, Identifier [Axis]: Heartland Home Services, Inc. | |||||
Variable interest rate | [10],[18] | 5.75% | |||
Interest Rate | [10],[12],[18] | 10.10% | |||
Par Amount | [10],[18] | $ 1,877,000 | |||
Cost | [4],[10],[18] | 1,860,000 | |||
Fair Value | [10],[18] | $ 1,802,000 | |||
Percentage of Net Assets | [10],[18] | 0.13% | |||
Unused Fee Rate | 0.75% | ||||
Unfunded Commitment | $ 612,000 | ||||
Fair Value | $ (18,000) | ||||
Investment, Identifier [Axis]: Heartland Veterinary Partners, LLC | |||||
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 375,000 | ||||
Fair Value | $ (4,000) | ||||
Investment, Identifier [Axis]: Heartland Veterinary Partners, LLC 1 | |||||
Variable interest rate | 4.75% | [7],[8] | 4.75% | [9],[10] | |
Interest Rate | 9.95% | [7],[8],[11] | 9.56% | [9],[10],[12] | |
Par Amount | $ 1,856,000 | [7],[8] | $ 1,866,000 | [9],[10] | |
Cost | 1,843,000 | [1],[7],[8] | 1,851,000 | [4],[9],[10] | |
Fair Value | $ 1,839,000 | [7],[8] | $ 1,812,000 | [9],[10] | |
Percentage of Net Assets | 0.13% | [7],[8] | 0.13% | [9],[10] | |
Unused Fee Rate | 1% | ||||
Unfunded Commitment | $ 1,255,000 | ||||
Fair Value | $ (36,000) | ||||
Investment, Identifier [Axis]: Heartland Veterinary Partners, LLC 2 | |||||
Variable interest rate | 4.75% | [7],[8] | 4.75% | [9],[10],[14] | |
Interest Rate | 9.95% | [7],[8],[11] | 9.56% | [9],[10],[12],[14] | |
Par Amount | $ 4,203,000 | [7],[8] | $ 2,969,000 | [9],[10],[14] | |
Cost | 4,175,000 | [1],[7],[8] | 2,936,000 | [4],[9],[10],[14] | |
Fair Value | $ 4,163,000 | [7],[8] | $ 2,847,000 | [9],[10],[14] | |
Percentage of Net Assets | 0.29% | [7],[8] | 0.20% | [9],[10],[14] | |
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 375,000 | ||||
Fair Value | $ (11,000) | ||||
Investment, Identifier [Axis]: Heartland Veterinary Partners, LLC 3 | |||||
Variable interest rate | 4.75% | [7],[8],[13] | 4.75% | [9],[10],[14] | |
Interest Rate | 9.95% | [7],[8],[11],[13] | 9.56% | [9],[10],[12],[14] | |
Par Amount | $ 0 | [7],[8],[13] | $ 0 | [9],[10],[14] | |
Cost | (2,000) | [1],[7],[8],[13] | (3,000) | [4],[9],[10],[14] | |
Fair Value | $ (4,000) | [7],[8],[13] | $ (11,000) | [9],[10],[14] | |
Percentage of Net Assets | 0% | [7],[8],[13] | 0% | [9],[10],[14] | |
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 88,000 | ||||
Fair Value | $ (7,000) | ||||
Investment, Identifier [Axis]: Heartland Veterinary Partners, LLC 4 | |||||
Variable interest rate | 8% | [7],[8] | 8% | [9],[10] | |
Interest Rate | 13.20% | [7],[8],[11] | 12.81% | [9],[10],[12] | |
Par Amount | $ 3,960,000 | [7],[8] | $ 3,960,000 | [9],[10] | |
Cost | 3,897,000 | [1],[7],[8] | 3,892,000 | [4],[9],[10] | |
Fair Value | $ 3,811,000 | [7],[8] | $ 3,624,000 | [9],[10] | |
Percentage of Net Assets | 0.26% | [7],[8] | 0.26% | [9],[10] | |
Investment, Identifier [Axis]: Heartland Veterinary Partners, LLC 5 | |||||
Variable interest rate | 8% | [7],[8] | 8% | [9],[10],[14] | |
Interest Rate | 13.20% | [7],[8],[11] | 12.81% | [9],[10],[12],[14] | |
Par Amount | $ 1,540,000 | [7],[8] | $ 1,452,000 | [9],[10],[14] | |
Cost | 1,515,000 | [1],[7],[8] | 1,426,000 | [4],[9],[10],[14] | |
Fair Value | $ 1,482,000 | [7],[8] | $ 1,322,000 | [9],[10],[14] | |
Percentage of Net Assets | 0.10% | [7],[8] | 0.09% | [9],[10],[14] | |
Investment, Identifier [Axis]: Help HP SCF Investor, LP (Help/Systems) | |||||
Par Amount | [19],[23] | $ 9,619,564 | |||
Par Amount, Shares (in shares) | [20],[22] | ||||
Cost | 12,460,000 | [1],[19],[23] | $ 12,460,000 | [4],[20],[22] | |
Fair Value | $ 14,705,000 | [19],[23] | $ 14,732,000 | [20],[22] | |
Percentage of Net Assets | 1.02% | [19],[23] | 1.05% | [20],[22] | |
Investment, Identifier [Axis]: Help/Systems Holdings, Inc. | |||||
Variable interest rate | 6.75% | [17] | 6.75% | [10],[18] | |
Interest Rate | 11.95% | [11],[17] | 10.94% | [10],[12],[18] | |
Par Amount | $ 17,500,000 | [17] | $ 17,500,000 | [10],[18] | |
Cost | 17,500,000 | [1],[17] | 17,500,000 | [4],[10],[18] | |
Fair Value | $ 13,183,000 | [17] | $ 16,189,000 | [10],[18] | |
Percentage of Net Assets | 0.92% | [17] | 1.16% | [10],[18] | |
Investment, Identifier [Axis]: Higginbotham Insurance Agency, Inc. | |||||
Variable interest rate | 5.25% | [8],[16],[17] | 5.25% | [10],[15],[18] | |
Interest Rate | 10.45% | [8],[11],[16],[17] | 9.63% | [10],[12],[15],[18] | |
Par Amount | $ 18,388,000 | [8],[16],[17] | $ 18,482,000 | [10],[15],[18] | |
Cost | 18,216,000 | [1],[8],[16],[17] | 18,287,000 | [4],[10],[15],[18] | |
Fair Value | $ 18,205,000 | [8],[16],[17] | $ 17,986,000 | [10],[15],[18] | |
Percentage of Net Assets | 1.26% | [8],[16],[17] | 1.29% | [10],[15],[18] | |
Investment, Identifier [Axis]: High Street Buyer, Inc. | |||||
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 2,136,000 | $ 2,136,000 | |||
Fair Value | $ (14,000) | $ (62,000) | |||
Investment, Identifier [Axis]: High Street Buyer, Inc. 1 | |||||
Variable interest rate | 6% | [8],[16],[17] | 6% | [10],[15],[18] | |
Interest Rate | 11.39% | [8],[11],[16],[17] | 10.73% | [10],[12],[15],[18] | |
Par Amount | $ 9,941,000 | [8],[16],[17] | $ 9,992,000 | [10],[15],[18] | |
Cost | 9,793,000 | [1],[8],[16],[17] | 9,832,000 | [4],[10],[15],[18] | |
Fair Value | $ 9,875,000 | [8],[16],[17] | $ 9,702,000 | [10],[15],[18] | |
Percentage of Net Assets | 0.69% | [8],[16],[17] | 0.69% | [10],[15],[18] | |
Investment, Identifier [Axis]: High Street Buyer, Inc. 2 | |||||
Variable interest rate | 6% | [8],[16],[17] | 6% | [10],[15],[18] | |
Interest Rate | 11.39% | [8],[11],[16],[17] | 10.73% | [10],[12],[15],[18] | |
Par Amount | $ 39,922,000 | [8],[16],[17] | $ 40,125,000 | [10],[15],[18] | |
Cost | 39,307,000 | [1],[8],[16],[17] | 39,459,000 | [4],[10],[15],[18] | |
Fair Value | $ 39,654,000 | [8],[16],[17] | $ 38,961,000 | [10],[15],[18] | |
Percentage of Net Assets | 2.75% | [8],[16],[17] | 2.79% | [10],[15],[18] | |
Investment, Identifier [Axis]: High Street Buyer, Inc. 3 | |||||
Variable interest rate | 6% | [8],[13],[17] | 6% | [10],[14],[18] | |
Interest Rate | 11.39% | [8],[11],[13],[17] | 10.73% | [10],[12],[14],[18] | |
Par Amount | $ 0 | [8],[13],[17] | $ 0 | [10],[14],[18] | |
Cost | (27,000) | [1],[8],[13],[17] | (31,000) | [4],[10],[14],[18] | |
Fair Value | $ (14,000) | [8],[13],[17] | $ (62,000) | [10],[14],[18] | |
Percentage of Net Assets | 0% | [8],[13],[17] | 0% | [10],[14],[18] | |
Investment, Identifier [Axis]: Idera, Inc. | |||||
Variable interest rate | 6.75% | [8],[17] | 6.75% | [10],[18] | |
Interest Rate | 12.01% | [8],[11],[17] | 10.50% | [10],[12],[18] | |
Par Amount | $ 3,887,000 | [8],[17] | $ 3,887,000 | [10],[18] | |
Cost | 3,864,000 | [1],[8],[17] | 3,863,000 | [4],[10],[18] | |
Fair Value | $ 3,831,000 | [8],[17] | $ 3,642,000 | [10],[18] | |
Percentage of Net Assets | 0.27% | [8],[17] | 0.26% | [10],[18] | |
Investment, Identifier [Axis]: Infinite Bidco, LLC | |||||
Unused Fee Rate | 1% | ||||
Unfunded Commitment | $ 8,500,000 | ||||
Fair Value | $ (269,000) | ||||
Investment, Identifier [Axis]: Infinite Bidco, LLC 1 | |||||
Variable interest rate | 6.25% | [8],[21] | 7% | [10],[26] | |
Interest Rate | 11.27% | [8],[11],[21] | 11.73% | [10],[12],[26] | |
Par Amount | $ 12,423,000 | [8],[21] | $ 17,000,000 | [10],[26] | |
Cost | 12,074,000 | [1],[8],[21] | 16,939,000 | [4],[10],[26] | |
Fair Value | $ 12,152,000 | [8],[21] | $ 16,463,000 | [10],[26] | |
Percentage of Net Assets | 0.84% | [8],[21] | 1.18% | [10],[26] | |
Investment, Identifier [Axis]: Infinite Bidco, LLC 2 | |||||
Variable interest rate | 7% | [8],[21] | 7% | [10],[14],[26] | |
Interest Rate | 12.50% | [8],[11],[21] | 11.73% | [10],[12],[14],[26] | |
Par Amount | $ 25,500,000 | [8],[21] | $ 0 | [10],[14],[26] | |
Cost | 25,442,000 | [1],[8],[21] | 0 | [4],[10],[14],[26] | |
Fair Value | $ 21,675,000 | [8],[21] | $ (269,000) | [10],[14],[26] | |
Percentage of Net Assets | 1.51% | [8],[21] | (0.02%) | [10],[14],[26] | |
Investment, Identifier [Axis]: Integrity Marketing Acquisition, LLC | |||||
Variable interest rate | [8],[19] | 10.50% | |||
Interest Rate | [10],[20] | 10.50% | |||
Par Amount | [8],[19] | $ 3,250,000 | |||
Par Amount, Shares (in shares) | [10],[20] | 3,250,000 | |||
Cost | 3,748,000 | [1],[8],[19] | $ 3,555,000 | [4],[10],[20] | |
Fair Value | $ 3,738,000 | [8],[19] | $ 3,165,000 | [10],[20] | |
Percentage of Net Assets | 0.26% | [8],[19] | 0.23% | [10],[20] | |
Investment, Identifier [Axis]: Integrity Marketing Acquisition, LLC 1 | |||||
Variable interest rate | 6.05% | [8],[16],[17] | 6.05% | [10],[15],[18] | |
Interest Rate | 11.41% | [8],[11],[16],[17] | 10.81% | [10],[12],[15],[18] | |
Par Amount | $ 394,000 | [8],[16],[17] | $ 44,059,000 | [10],[15],[18] | |
Cost | 386,000 | [1],[8],[16],[17] | 43,688,000 | [4],[10],[15],[18] | |
Fair Value | $ 386,000 | [8],[16],[17] | $ 42,808,000 | [10],[15],[18] | |
Percentage of Net Assets | 0.03% | [8],[16],[17] | 3.06% | [10],[15],[18] | |
Unused Fee Rate | 1% | ||||
Unfunded Commitment | $ 262,000 | ||||
Fair Value | $ (2,000) | ||||
Investment, Identifier [Axis]: Integrity Marketing Acquisition, LLC 2 | |||||
Variable interest rate | 6.05% | [8],[13],[16],[17] | 6.05% | [10],[18] | |
Interest Rate | 11.41% | [8],[11],[13],[16],[17] | 10.81% | [10],[12],[18] | |
Par Amount | $ 85,511,000 | [8],[13],[16],[17] | $ 24,599,000 | [10],[18] | |
Cost | 84,864,000 | [1],[8],[13],[16],[17] | 24,373,000 | [4],[10],[18] | |
Fair Value | $ 83,755,000 | [8],[13],[16],[17] | $ 23,900,000 | [10],[18] | |
Percentage of Net Assets | 5.82% | [8],[13],[16],[17] | 1.71% | [10],[18] | |
Unused Fee Rate | 1% | ||||
Unfunded Commitment | $ 53,000 | ||||
Fair Value | $ (2,000) | ||||
Investment, Identifier [Axis]: Integrity Marketing Acquisition, LLC 3 | |||||
Variable interest rate | 6.05% | [8],[13],[17] | 6.05% | [10],[18] | |
Interest Rate | 11.41% | [8],[11],[13],[17] | 10.81% | [10],[12],[18] | |
Par Amount | $ 0 | [8],[13],[17] | $ 17,290,000 | [10],[18] | |
Cost | (2,000) | [1],[8],[13],[17] | 17,108,000 | [4],[10],[18] | |
Fair Value | $ (2,000) | [8],[13],[17] | $ 16,799,000 | [10],[18] | |
Percentage of Net Assets | 0% | [8],[13],[17] | 1.20% | [10],[18] | |
Investment, Identifier [Axis]: Intelerad Medical Systems Incorporated | |||||
Variable interest rate | [9],[10],[22] | 6.50% | |||
Interest Rate | [9],[10],[12],[22] | 11.23% | |||
Par Amount | [9],[10],[22] | $ 500,000 | |||
Cost | [4],[9],[10],[22] | 486,000 | |||
Fair Value | [9],[10],[22] | $ 489,000 | |||
Percentage of Net Assets | [9],[10],[22] | 0.03% | |||
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 19,000 | ||||
Fair Value | $ 0 | ||||
Investment, Identifier [Axis]: Intelerad Medical Systems Incorporated 1 | |||||
Variable interest rate | [7],[8],[23] | 6.50% | |||
Interest Rate | [7],[8],[11],[23] | 11.70% | |||
Par Amount | [7],[8],[23] | $ 498,000 | |||
Cost | [1],[7],[8],[23] | 485,000 | |||
Fair Value | [7],[8],[23] | $ 469,000 | |||
Percentage of Net Assets | [7],[8],[23] | 0.03% | |||
Investment, Identifier [Axis]: Intelerad Medical Systems Incorporated 2 | |||||
Variable interest rate | [7],[8],[13],[23] | 6.50% | |||
Interest Rate | [7],[8],[11],[13],[23] | 11.70% | |||
Par Amount | [7],[8],[13],[23] | $ 15,000 | |||
Cost | [1],[7],[8],[13],[23] | 14,000 | |||
Fair Value | [7],[8],[13],[23] | $ 14,000 | |||
Percentage of Net Assets | [7],[8],[13],[23] | 0% | |||
Investment, Identifier [Axis]: Investment One | |||||
Interest rate floor | 1% | 1% | |||
Investment, Identifier [Axis]: Investment Three | |||||
Interest rate floor | 0.50% | 0.50% | |||
Investment, Identifier [Axis]: Investment Two | |||||
Interest rate floor | 0.75% | 0.75% | |||
Investment, Identifier [Axis]: Jonathan Acquisition Company | |||||
Variable interest rate | 5% | [7],[8] | 5% | [9],[10] | |
Interest Rate | 10.34% | [7],[8],[11] | 9.73% | [9],[10],[12] | |
Par Amount | $ 2,698,000 | [7],[8] | $ 2,712,000 | [9],[10] | |
Cost | 2,649,000 | [1],[7],[8] | 2,656,000 | [4],[9],[10] | |
Fair Value | $ 2,645,000 | [7],[8] | $ 2,641,000 | [9],[10] | |
Percentage of Net Assets | 0.18% | [7],[8] | 0.19% | [9],[10] | |
Investment, Identifier [Axis]: KPSKY Acquisition, Inc. | |||||
Unused Fee Rate | 1% | 1% | |||
Unfunded Commitment | $ 1,755,000 | $ 3,413,000 | |||
Fair Value | $ (55,000) | $ (154,000) | |||
Investment, Identifier [Axis]: KPSKY Acquisition, Inc. 1 | |||||
Variable interest rate | 5.50% | [8],[17] | 5.50% | [10],[18] | |
Interest Rate | 10.71% | [8],[11],[17] | 9.89% | [10],[12],[18] | |
Par Amount | $ 34,037,000 | [8],[17] | $ 34,211,000 | [10],[18] | |
Cost | 33,489,000 | [1],[8],[17] | 33,621,000 | [4],[10],[18] | |
Fair Value | $ 32,965,000 | [8],[17] | $ 32,668,000 | [10],[18] | |
Percentage of Net Assets | 2.29% | [8],[17] | 2.34% | [10],[18] | |
Investment, Identifier [Axis]: KPSKY Acquisition, Inc. 2 | |||||
Variable interest rate | 5.50% | [8],[13],[17] | 4.53% | [10],[14],[18] | |
Interest Rate | 10.71% | [8],[11],[13],[17] | 12.03% | [10],[12],[14],[18] | |
Par Amount | $ 6,035,000 | [8],[13],[17] | $ 4,420,000 | [10],[14],[18] | |
Cost | 5,919,000 | [1],[8],[13],[17] | 4,311,000 | [4],[10],[14],[18] | |
Fair Value | $ 5,790,000 | [8],[13],[17] | $ 4,066,000 | [10],[14],[18] | |
Percentage of Net Assets | 0.40% | [8],[13],[17] | 0.29% | [10],[14],[18] | |
Investment, Identifier [Axis]: KWOR Acquisition, Inc. 1 | |||||
Variable interest rate | 5.25% | [7],[8] | 5.25% | [10],[18] | |
Interest Rate | 10.45% | [7],[8],[11] | 9.63% | [10],[12],[18] | |
Par Amount | $ 5,347,000 | [7],[8] | $ 5,376,000 | [10],[18] | |
Cost | 5,257,000 | [1],[7],[8] | 5,280,000 | [4],[10],[18] | |
Fair Value | $ 5,171,000 | [7],[8] | $ 5,096,000 | [10],[18] | |
Percentage of Net Assets | 0.36% | [7],[8] | 0.36% | [10],[18] | |
Unused Fee Rate | 1% | 1% | |||
Unfunded Commitment | $ 3,709,000 | $ 4,777,000 | |||
Fair Value | $ (122,000) | $ (248,000) | |||
Investment, Identifier [Axis]: KWOR Acquisition, Inc. 2 | |||||
Variable interest rate | 5.25% | [7],[8],[13] | 5.25% | [10],[14],[18] | |
Interest Rate | 10.45% | [7],[8],[11],[13] | 9.63% | [10],[12],[14],[18] | |
Par Amount | $ 1,068,000 | [7],[8],[13] | $ 0 | [10],[14],[18] | |
Cost | 1,018,000 | [1],[7],[8],[13] | (44,000) | [4],[10],[14],[18] | |
Fair Value | $ 912,000 | [7],[8],[13] | $ (248,000) | [10],[14],[18] | |
Percentage of Net Assets | 0.06% | [7],[8],[13] | (0.02%) | [10],[14],[18] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 55,000 | $ 122,000 | |||
Fair Value | $ (2,000) | $ (6,000) | |||
Investment, Identifier [Axis]: KWOR Acquisition, Inc. 3 | |||||
Variable interest rate | 4.25% | [7],[8],[13] | 4.25% | [10],[14],[18] | |
Interest Rate | 12.50% | [7],[8],[11],[13] | 11.75% | [10],[12],[14],[18] | |
Par Amount | $ 67,000 | [7],[8],[13] | $ 0 | [10],[14],[18] | |
Cost | 66,000 | [1],[7],[8],[13] | (1,000) | [4],[10],[14],[18] | |
Fair Value | $ 63,000 | [7],[8],[13] | $ (6,000) | [10],[14],[18] | |
Percentage of Net Assets | 0% | [7],[8],[13] | 0% | [10],[14],[18] | |
Investment, Identifier [Axis]: Kaseya, Inc. 1 | |||||
Variable interest rate | 825% | [8],[17] | 5.75% | [10],[18] | |
Interest rate, PIK | [8],[17] | 250% | |||
Interest Rate | 11.35% | [8],[11],[17] | 10.33% | [10],[12],[18] | |
Par Amount | $ 14,099,000 | [8],[17] | $ 14,099,000 | [10],[18] | |
Cost | 13,910,000 | [1],[8],[17] | 13,899,000 | [4],[10],[18] | |
Fair Value | $ 13,770,000 | [8],[17] | $ 13,484,000 | [10],[18] | |
Percentage of Net Assets | 0.96% | [8],[17] | 0.97% | [10],[18] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 803,000 | $ 856,000 | |||
Fair Value | $ (19,000) | $ (37,000) | |||
Investment, Identifier [Axis]: Kaseya, Inc. 2 | |||||
Variable interest rate | 825% | [8],[13],[17] | 5.75% | [10],[14],[18] | |
Interest rate, PIK | [8],[13],[17] | 250% | |||
Interest Rate | 11.35% | [8],[11],[13],[17] | 10.33% | [10],[12],[14],[18] | |
Par Amount | $ 52,000 | [8],[13],[17] | $ 0 | [10],[14],[18] | |
Cost | 47,000 | [1],[8],[13],[17] | (6,000) | [4],[10],[14],[18] | |
Fair Value | $ 32,000 | [8],[13],[17] | $ (37,000) | [10],[14],[18] | |
Percentage of Net Assets | 0% | [8],[13],[17] | 0% | [10],[14],[18] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 642,000 | $ 856,000 | |||
Fair Value | $ (15,000) | $ (37,000) | |||
Investment, Identifier [Axis]: Kaseya, Inc. 3 | |||||
Variable interest rate | 825% | [8],[13],[17] | 5.75% | [10],[14],[18] | |
Interest rate, PIK | [8],[13],[17] | 250% | |||
Interest Rate | 11.35% | [8],[11],[13],[17] | 10.33% | [10],[12],[14],[18] | |
Par Amount | $ 214,000 | [8],[13],[17] | $ 0 | [10],[14],[18] | |
Cost | 203,000 | [1],[8],[13],[17] | (12,000) | [4],[10],[14],[18] | |
Fair Value | $ 194,000 | [8],[13],[17] | $ (37,000) | [10],[14],[18] | |
Percentage of Net Assets | 0.01% | [8],[13],[17] | 0% | [10],[14],[18] | |
Investment, Identifier [Axis]: Keystone Agency Investors 1 | |||||
Variable interest rate | 5.75% | [7],[8] | 6.25% | [9],[10] | |
Interest Rate | 11.14% | [7],[8],[11] | 10.98% | [9],[10],[12] | |
Par Amount | $ 3,498,000 | [7],[8] | $ 3,516,000 | [9],[10] | |
Cost | 3,454,000 | [1],[7],[8] | 3,467,000 | [4],[9],[10] | |
Fair Value | $ 3,449,000 | [7],[8] | $ 3,467,000 | [9],[10] | |
Percentage of Net Assets | 0.24% | [7],[8] | 0.25% | [9],[10] | |
Investment, Identifier [Axis]: Keystone Agency Investors 2 | |||||
Variable interest rate | 5.75% | [7],[8] | 6.25% | [9],[10] | |
Interest Rate | 11.14% | [7],[8],[11] | 10.98% | [9],[10],[12] | |
Par Amount | $ 4,027,000 | [7],[8] | $ 4,047,000 | [9],[10] | |
Cost | 3,978,000 | [1],[7],[8] | 3,993,000 | [4],[9],[10] | |
Fair Value | $ 3,971,000 | [7],[8] | $ 3,993,000 | [9],[10] | |
Percentage of Net Assets | 0.28% | [7],[8] | 0.29% | [9],[10] | |
Investment, Identifier [Axis]: Knockout Intermediate Holdings I, Inc. | |||||
Variable interest rate | [8],[19] | 11.75% | |||
Interest Rate | [10],[20] | 11.75% | |||
Par Amount | [8],[19] | $ 2,790 | |||
Par Amount, Shares (in shares) | [10],[20] | 2,790 | |||
Cost | 3,073,000 | [1],[8],[19] | $ 2,895,000 | [4],[10],[20] | |
Fair Value | $ 3,036,000 | [8],[19] | $ 2,787,000 | [10],[20] | |
Percentage of Net Assets | 0.21% | [8],[19] | 0.20% | [10],[20] | |
Investment, Identifier [Axis]: Komline Sanderson Engineering Corp. 1 | |||||
Variable interest rate | 6% | [8],[16],[21] | 6% | [10],[15],[26] | |
Interest Rate | 11.41% | [8],[11],[16],[21] | 11.14% | [10],[12],[15],[26] | |
Par Amount | $ 17,302,000 | [8],[16],[21] | $ 4,080,000 | [10],[15],[26] | |
Cost | 17,190,000 | [1],[8],[16],[21] | 4,045,000 | [4],[10],[15],[26] | |
Fair Value | $ 16,712,000 | [8],[16],[21] | $ 3,837,000 | [10],[15],[26] | |
Percentage of Net Assets | 1.16% | [8],[16],[21] | 0.27% | [10],[15],[26] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 8,529,000 | $ 8,529,000 | |||
Fair Value | $ (291,000) | $ (507,000) | |||
Investment, Identifier [Axis]: Komline Sanderson Engineering Corp. 2 | |||||
Variable interest rate | 6% | [8],[13],[21] | 6% | [10],[14],[26] | |
Interest Rate | 11.41% | [8],[11],[13],[21] | 11.14% | [10],[12],[14],[26] | |
Par Amount | $ 18,660,000 | [8],[13],[21] | $ 0 | [10],[14],[26] | |
Cost | 18,484,000 | [1],[8],[13],[21] | (72,000) | [4],[10],[14],[26] | |
Fair Value | $ 17,733,000 | [8],[13],[21] | $ (507,000) | [10],[14],[26] | |
Percentage of Net Assets | 1.23% | [8],[13],[21] | (0.04%) | [10],[14],[26] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 4,746,000 | $ 2,057,000 | |||
Fair Value | $ (162,000) | $ (122,000) | |||
Investment, Identifier [Axis]: Komline Sanderson Engineering Corp. 3 | |||||
Variable interest rate | 6% | [8],[13],[21] | 6% | [10],[15],[26] | |
Interest Rate | 11.41% | [8],[11],[13],[21] | 10.67% | [10],[12],[15],[26] | |
Par Amount | $ 0 | [8],[13],[21] | $ 16,629,000 | [10],[15],[26] | |
Cost | (26,000) | [1],[8],[13],[21] | 16,507,000 | [4],[10],[15],[26] | |
Fair Value | $ (162,000) | [8],[13],[21] | $ 15,640,000 | [10],[15],[26] | |
Percentage of Net Assets | (0.01%) | [8],[13],[21] | 1.12% | [10],[15],[26] | |
Investment, Identifier [Axis]: Komline Sanderson Engineering Corp. 4 | |||||
Variable interest rate | [10],[26] | 6% | |||
Interest Rate | [10],[12],[26] | 10.67% | |||
Par Amount | [10],[26] | $ 19,118,000 | |||
Cost | [4],[10],[26] | 18,984,000 | |||
Fair Value | [10],[26] | $ 17,981,000 | |||
Percentage of Net Assets | [10],[26] | 1.29% | |||
Investment, Identifier [Axis]: Komline Sanderson Engineering Corp. 5 | |||||
Variable interest rate | [10],[14],[26] | 6% | |||
Interest Rate | [10],[12],[14],[26] | 10.67% | |||
Par Amount | [10],[14],[26] | $ 2,689,000 | |||
Cost | [4],[10],[14],[26] | 2,659,000 | |||
Fair Value | [10],[14],[26] | $ 2,407,000 | |||
Percentage of Net Assets | [10],[14],[26] | 0.17% | |||
Investment, Identifier [Axis]: LJ Avalon Holdings, LLC 1 | |||||
Variable interest rate | [7],[8] | 6.25% | |||
Interest Rate | [7],[8],[11] | 11.51% | |||
Par Amount | [7],[8] | $ 4,152,000 | |||
Cost | [1],[7],[8] | 4,033,000 | |||
Fair Value | [7],[8] | $ 4,006,000 | |||
Percentage of Net Assets | [7],[8] | 0.28% | |||
Unused Fee Rate | 1% | ||||
Unfunded Commitment | $ 1,688,000 | ||||
Fair Value | $ (59,000) | ||||
Investment, Identifier [Axis]: LJ Avalon Holdings, LLC 2 | |||||
Variable interest rate | [7],[8],[13] | 6.25% | |||
Interest Rate | [7],[8],[11],[13] | 11.51% | |||
Par Amount | [7],[8],[13] | $ 0 | |||
Cost | [1],[7],[8],[13] | (24,000) | |||
Fair Value | [7],[8],[13] | $ (59,000) | |||
Percentage of Net Assets | [7],[8],[13] | 0% | |||
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 675,000 | ||||
Fair Value | $ (24,000) | ||||
Investment, Identifier [Axis]: LJ Avalon Holdings, LLC 3 | |||||
Variable interest rate | [7],[8],[13] | 6.25% | |||
Interest Rate | [7],[8],[11],[13] | 11.51% | |||
Par Amount | [7],[8],[13] | $ 0 | |||
Cost | [1],[7],[8],[13] | (19,000) | |||
Fair Value | [7],[8],[13] | $ (24,000) | |||
Percentage of Net Assets | [7],[8],[13] | 0% | |||
Investment, Identifier [Axis]: LUV Car Wash | |||||
Par Amount, Shares (in shares) | [8],[19] | 123 | |||
Cost | [1],[8],[19] | $ 123,000 | |||
Fair Value | [8],[19] | $ 90,000 | |||
Percentage of Net Assets | [8],[19] | 0.01% | |||
Investment, Identifier [Axis]: LUV Car Wash Group, LLC | |||||
Variable interest rate | [7],[8],[13] | 7% | |||
Interest Rate | [7],[8],[11],[13] | 12.04% | |||
Par Amount | [7],[8],[13] | $ 717,000 | |||
Cost | [1],[7],[8],[13] | 710,000 | |||
Fair Value | [7],[8],[13] | $ 707,000 | |||
Percentage of Net Assets | [7],[8],[13] | 0.05% | |||
Unused Fee Rate | 1% | 1% | |||
Unfunded Commitment | $ 274,000 | $ 257,000 | |||
Fair Value | $ (3,000) | $ (5,000) | |||
Investment, Identifier [Axis]: LUV Car Wash Group, LLC 1 | |||||
Variable interest rate | [9],[10] | 5.50% | |||
Interest Rate | [9],[10],[12] | 9.24% | |||
Par Amount | [9],[10] | $ 372,000 | |||
Cost | [4],[9],[10] | 367,000 | |||
Fair Value | [9],[10] | $ 359,000 | |||
Percentage of Net Assets | [9],[10] | 0.03% | |||
Investment, Identifier [Axis]: LUV Car Wash Group, LLC 2 | |||||
Variable interest rate | [9],[10] | 5.50% | |||
Interest Rate | [9],[10],[12] | 9.24% | |||
Par Amount | [9],[10] | $ 349,000 | |||
Cost | [4],[9],[10] | 346,000 | |||
Fair Value | [9],[10] | $ 341,000 | |||
Percentage of Net Assets | [9],[10] | 0.02% | |||
Investment, Identifier [Axis]: LUV Car Wash Holdings, LLC | |||||
Par Amount, Shares (in shares) | [10],[20] | 116 | |||
Cost | [4],[10],[20] | $ 116,000 | |||
Fair Value | [10],[20] | $ 116,000 | |||
Percentage of Net Assets | [10],[20] | 0.01% | |||
Investment, Identifier [Axis]: LegitScript 1 | |||||
Variable interest rate | [10],[18] | 5.25% | |||
Interest Rate | [10],[12],[18] | 8.23% | |||
Par Amount | [10],[18] | $ 28,108,000 | |||
Cost | [4],[10],[18] | 27,580,000 | |||
Fair Value | [10],[18] | $ 27,580,000 | |||
Percentage of Net Assets | [10],[18] | 1.97% | |||
Unused Fee Rate | 1% | ||||
Unfunded Commitment | $ 7,654,000 | ||||
Fair Value | $ (68,000) | ||||
Investment, Identifier [Axis]: LegitScript 2 | |||||
Variable interest rate | [10],[14],[18] | 5.25% | |||
Interest Rate | [10],[12],[14],[18] | 9.57% | |||
Par Amount | [10],[14],[18] | $ 0 | |||
Cost | [4],[10],[14],[18] | (68,000) | |||
Fair Value | [10],[14],[18] | $ (68,000) | |||
Percentage of Net Assets | [10],[14],[18] | 0% | |||
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 3,917,000 | ||||
Fair Value | $ (72,000) | ||||
Investment, Identifier [Axis]: LegitScript 3 | |||||
Variable interest rate | [10],[14],[18] | 5.25% | |||
Interest Rate | [10],[12],[14],[18] | 9.57% | |||
Par Amount | [10],[14],[18] | $ 250,000 | |||
Cost | [4],[10],[14],[18] | 174,000 | |||
Fair Value | [10],[14],[18] | $ 174,000 | |||
Percentage of Net Assets | [10],[14],[18] | 0.01% | |||
Investment, Identifier [Axis]: LegitScript, LLC 1 | |||||
Variable interest rate | [8],[17] | 5.25% | |||
Interest Rate | [8],[11],[17] | 10.35% | |||
Par Amount | [8],[17] | $ 27,968,000 | |||
Cost | [1],[8],[17] | 27,472,000 | |||
Fair Value | [8],[17] | $ 27,492,000 | |||
Percentage of Net Assets | [8],[17] | 1.91% | |||
Unused Fee Rate | 1% | ||||
Unfunded Commitment | $ 6,916,000 | ||||
Fair Value | $ (118,000) | ||||
Investment, Identifier [Axis]: LegitScript, LLC 2 | |||||
Variable interest rate | [8],[13],[17] | 5.25% | |||
Interest Rate | [8],[11],[13],[17] | 10.35% | |||
Par Amount | [8],[13],[17] | $ 738,000 | |||
Cost | [1],[8],[13],[17] | 668,000 | |||
Fair Value | [8],[13],[17] | $ 608,000 | |||
Percentage of Net Assets | [8],[13],[17] | 0.04% | |||
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 3,583,000 | ||||
Fair Value | $ (61,000) | ||||
Investment, Identifier [Axis]: LegitScript, LLC 3 | |||||
Variable interest rate | [8],[13],[17] | 5.25% | |||
Interest Rate | [8],[11],[13],[17] | 10.35% | |||
Par Amount | [8],[13],[17] | $ 583,000 | |||
Cost | [1],[8],[13],[17] | 514,000 | |||
Fair Value | [8],[13],[17] | $ 513,000 | |||
Percentage of Net Assets | [8],[13],[17] | 0.04% | |||
Investment, Identifier [Axis]: Lightspeed Buyer, Inc. | |||||
Unused Fee Rate | 1% | ||||
Unfunded Commitment | $ 4,050,000 | ||||
Fair Value | $ (118,000) | ||||
Investment, Identifier [Axis]: Lightspeed Buyer, Inc. 1 | |||||
Variable interest rate | 5.25% | [7],[8],[16] | 5.50% | [9],[10],[15] | |
Interest Rate | 10.50% | [7],[8],[11],[16] | 9.98% | [9],[10],[12],[15] | |
Par Amount | $ 12,604,000 | [7],[8],[16] | $ 12,669,000 | [9],[10],[15] | |
Cost | 12,411,000 | [1],[7],[8],[16] | 12,442,000 | [4],[9],[10],[15] | |
Fair Value | $ 12,500,000 | [7],[8],[16] | $ 12,300,000 | [9],[10],[15] | |
Percentage of Net Assets | 0.87% | [7],[8],[16] | 0.88% | [9],[10],[15] | |
Investment, Identifier [Axis]: Lightspeed Buyer, Inc. 2 | |||||
Variable interest rate | 5.25% | [7],[8] | 5.50% | [9],[10] | |
Interest Rate | 10.50% | [7],[8],[11] | 9.98% | [9],[10],[12] | |
Par Amount | $ 9,962,000 | [7],[8] | $ 9,234,000 | [9],[10] | |
Cost | 9,795,000 | [1],[7],[8] | 9,053,000 | [4],[9],[10] | |
Fair Value | $ 9,878,000 | [7],[8] | $ 8,966,000 | [9],[10] | |
Percentage of Net Assets | 0.69% | [7],[8] | 0.64% | [9],[10] | |
Investment, Identifier [Axis]: Lightspeed Buyer, Inc. 3 | |||||
Variable interest rate | [9],[10],[14] | 5.50% | |||
Interest Rate | [9],[10],[12],[14] | 9.98% | |||
Par Amount | [9],[10],[14] | $ 0 | |||
Cost | [4],[9],[10],[14] | (28,000) | |||
Fair Value | [9],[10],[14] | $ (118,000) | |||
Percentage of Net Assets | [9],[10],[14] | (0.01%) | |||
Investment, Identifier [Axis]: Lightspeed Solution, LLC | |||||
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 2,194,000 | $ 2,439,000 | |||
Fair Value | $ (65,000) | $ (89,000) | |||
Investment, Identifier [Axis]: Lightspeed Solution, LLC 1 | |||||
Variable interest rate | 6.50% | [8],[17] | 6.50% | [10],[18] | |
Interest Rate | 11.56% | [8],[11],[17] | 10.82% | [10],[12],[18] | |
Par Amount | $ 7,729,000 | [8],[17] | $ 7,585,000 | [10],[18] | |
Cost | 7,605,000 | [1],[8],[17] | 7,451,000 | [4],[10],[18] | |
Fair Value | $ 7,501,000 | [8],[17] | $ 7,308,000 | [10],[18] | |
Percentage of Net Assets | 0.52% | [8],[17] | 0.52% | [10],[18] | |
Investment, Identifier [Axis]: Lightspeed Solution, LLC 2 | |||||
Variable interest rate | 6.50% | [8],[13],[17] | 6.50% | [10],[18] | |
Interest Rate | 11.56% | [8],[11],[13],[17] | 10.82% | [10],[12],[18] | |
Par Amount | $ 247,000 | [8],[13],[17] | $ 0 | [10],[18] | |
Cost | 225,000 | [1],[8],[13],[17] | (21,000) | [4],[10],[18] | |
Fair Value | $ 175,000 | [8],[13],[17] | $ (89,000) | [10],[18] | |
Percentage of Net Assets | 0.01% | [8],[13],[17] | (0.01%) | [10],[18] | |
Investment, Identifier [Axis]: Long Term Care Group, Inc. | |||||
Variable interest rate | 6% | [8],[17] | 6% | [10],[18] | |
Interest Rate | 11.29% | [8],[11],[17] | 10.34% | [10],[12],[18] | |
Par Amount | $ 4,938,000 | [8],[17] | $ 4,963,000 | [10],[18] | |
Cost | 4,857,000 | [1],[8],[17] | 4,875,000 | [4],[10],[18] | |
Fair Value | $ 3,948,000 | [8],[17] | $ 4,768,000 | [10],[18] | |
Percentage of Net Assets | 0.27% | [8],[17] | 0.34% | [10],[18] | |
Investment, Identifier [Axis]: MHE Intermediate Holdings, LLC | |||||
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 2,150,000 | $ 2,150,000 | |||
Fair Value | $ (53,000) | $ (64,000) | |||
Investment, Identifier [Axis]: MHE Intermediate Holdings, LLC 1 | |||||
Variable interest rate | 6% | [7],[8],[16] | 6.25% | [9],[10],[15] | |
Interest Rate | 11.38% | [7],[8],[11],[16] | 9.75% | [9],[10],[12],[15] | |
Par Amount | $ 32,764,000 | [7],[8],[16] | $ 121,000 | [9],[10],[15] | |
Cost | 32,269,000 | [1],[7],[8],[16] | 117,000 | [4],[9],[10],[15] | |
Fair Value | $ 31,987,000 | [7],[8],[16] | $ 117,000 | [9],[10],[15] | |
Percentage of Net Assets | 2.22% | [7],[8],[16] | 0.01% | [9],[10],[15] | |
Investment, Identifier [Axis]: MHE Intermediate Holdings, LLC 2 | |||||
Variable interest rate | 6% | [7],[8] | 6.50% | [9],[10] | |
Interest Rate | 11.38% | [7],[8],[11] | 11.46% | [9],[10],[12] | |
Par Amount | $ 3,692,000 | [7],[8] | $ 4,419,000 | [9],[10] | |
Cost | 3,637,000 | [1],[7],[8] | 4,332,000 | [4],[9],[10] | |
Fair Value | $ 3,601,000 | [7],[8] | $ 4,332,000 | [9],[10] | |
Percentage of Net Assets | 0.25% | [7],[8] | 0.31% | [9],[10] | |
Investment, Identifier [Axis]: MHE Intermediate Holdings, LLC 3 | |||||
Variable interest rate | 6% | [7],[8],[13] | 6.25% | [9],[10],[15] | |
Interest Rate | 11.38% | [7],[8],[11],[13] | 9.50% | [9],[10],[12],[15] | |
Par Amount | $ 350,000 | [7],[8],[13] | $ 28,391,000 | [9],[10],[15] | |
Cost | 316,000 | [1],[7],[8],[13] | 27,937,000 | [4],[9],[10],[15] | |
Fair Value | $ 288,000 | [7],[8],[13] | $ 27,550,000 | [9],[10],[15] | |
Percentage of Net Assets | 0.02% | [7],[8],[13] | 1.97% | [9],[10],[15] | |
Investment, Identifier [Axis]: MHE Intermediate Holdings, LLC 4 | |||||
Variable interest rate | [9],[10] | 6.25% | |||
Interest Rate | [9],[10],[12] | 9.50% | |||
Par Amount | [9],[10] | $ 3,711,000 | |||
Cost | [4],[9],[10] | 3,650,000 | |||
Fair Value | [9],[10] | $ 3,601,000 | |||
Percentage of Net Assets | [9],[10] | 0.26% | |||
Investment, Identifier [Axis]: MHE Intermediate Holdings, LLC 5 | |||||
Variable interest rate | [9],[10],[14] | 6% | |||
Interest Rate | [9],[10],[12],[14] | 10.94% | |||
Par Amount | [9],[10],[14] | $ 350,000 | |||
Cost | [4],[9],[10],[14] | 312,000 | |||
Fair Value | [9],[10],[14] | $ 276,000 | |||
Percentage of Net Assets | [9],[10],[14] | 0.02% | |||
Investment, Identifier [Axis]: MRI Software, LLC | |||||
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 2,215,000 | $ 2,215,000 | |||
Fair Value | $ (17,000) | $ (45,000) | |||
Investment, Identifier [Axis]: MRI Software, LLC 1 | |||||
Variable interest rate | 5.50% | [7],[8],[16] | 5.50% | [9],[10],[15] | |
Interest Rate | 10.84% | [7],[8],[11],[16] | 10.23% | [9],[10],[12],[15] | |
Par Amount | $ 59,180,000 | [7],[8],[16] | $ 59,485,000 | [9],[10],[15] | |
Cost | 58,831,000 | [1],[7],[8],[16] | 59,075,000 | [4],[9],[10],[15] | |
Fair Value | $ 58,736,000 | [7],[8],[16] | $ 58,278,000 | [9],[10],[15] | |
Percentage of Net Assets | 4.08% | [7],[8],[16] | 4.17% | [9],[10],[15] | |
Investment, Identifier [Axis]: MRI Software, LLC 2 | |||||
Variable interest rate | 5.50% | [7],[8],[13] | 5.50% | [9],[10],[14] | |
Interest Rate | 10.84% | [7],[8],[11],[13] | 10.23% | [9],[10],[12],[14] | |
Par Amount | $ 0 | [7],[8],[13] | $ 0 | [9],[10],[14] | |
Cost | (10,000) | [1],[7],[8],[13] | (12,000) | [4],[9],[10],[14] | |
Fair Value | $ (17,000) | [7],[8],[13] | $ (45,000) | [9],[10],[14] | |
Percentage of Net Assets | 0% | [7],[8],[13] | 0% | [9],[10],[14] | |
Investment, Identifier [Axis]: MSM Acquisitions, Inc. 1 | |||||
Variable interest rate | [9],[10],[15] | 6% | |||
Interest Rate | [9],[10],[12],[15] | 10.75% | |||
Par Amount | [9],[10],[15] | $ 31,570,000 | |||
Cost | [4],[9],[10],[15] | 31,179,000 | |||
Fair Value | [9],[10],[15] | $ 30,815,000 | |||
Percentage of Net Assets | [9],[10],[15] | 2.21% | |||
Unused Fee Rate | 1% | ||||
Unfunded Commitment | $ 23,439,000 | ||||
Fair Value | $ (560,000) | ||||
Investment, Identifier [Axis]: MSM Acquisitions, Inc. 2 | |||||
Variable interest rate | [9],[10],[14] | 6% | |||
Interest Rate | [9],[10],[12],[14] | 10.75% | |||
Par Amount | [9],[10],[14] | $ 12,743,000 | |||
Cost | [4],[9],[10],[14] | 12,493,000 | |||
Fair Value | [9],[10],[14] | $ 11,878,000 | |||
Percentage of Net Assets | [9],[10],[14] | 0.85% | |||
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 2,112,000 | ||||
Fair Value | $ (51,000) | ||||
Investment, Identifier [Axis]: MSM Acquisitions, Inc. 3 | |||||
Variable interest rate | [9],[10],[14] | 6% | |||
Interest Rate | [9],[10],[12],[14] | 10.75% | |||
Par Amount | [9],[10],[14] | $ 1,836,000 | |||
Cost | [4],[9],[10],[14] | 1,784,000 | |||
Fair Value | [9],[10],[14] | $ 1,741,000 | |||
Percentage of Net Assets | [9],[10],[14] | 0.12% | |||
Investment, Identifier [Axis]: Magnolia Wash Holdings | |||||
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 71,000 | $ 71,000 | |||
Fair Value | $ (16,000) | $ (3,000) | |||
Investment, Identifier [Axis]: Magnolia Wash Holdings 1 | |||||
Variable interest rate | 6.50% | [7],[8] | 6.50% | [9],[10] | |
Interest Rate | 11.65% | [7],[8],[11] | 10.32% | [9],[10],[12] | |
Par Amount | $ 3,748,000 | [7],[8] | $ 3,767,000 | [9],[10] | |
Cost | 3,682,000 | [1],[7],[8] | 3,696,000 | [4],[9],[10] | |
Fair Value | $ 2,914,000 | [7],[8] | $ 3,608,000 | [9],[10] | |
Percentage of Net Assets | 0.20% | [7],[8] | 0.26% | [9],[10] | |
Investment, Identifier [Axis]: Magnolia Wash Holdings 2 | |||||
Variable interest rate | 6.50% | [7],[8] | 6.50% | [9],[10] | |
Interest Rate | 11.65% | [7],[8],[11] | 10.32% | [9],[10],[12] | |
Par Amount | $ 702,000 | [7],[8] | $ 706,000 | [9],[10] | |
Cost | 690,000 | [1],[7],[8] | 692,000 | [4],[9],[10] | |
Fair Value | $ 546,000 | [7],[8] | $ 676,000 | [9],[10] | |
Percentage of Net Assets | 0.04% | [7],[8] | 0.05% | [9],[10] | |
Investment, Identifier [Axis]: Magnolia Wash Holdings 3 | |||||
Variable interest rate | 6.50% | [7],[8],[13] | 6.50% | [9],[10] | |
Interest Rate | 11.65% | [7],[8],[11],[13] | 10.32% | [9],[10],[12] | |
Par Amount | $ 87,000 | [7],[8],[13] | $ 87,000 | [9],[10] | |
Cost | 85,000 | [1],[7],[8],[13] | 84,000 | [4],[9],[10] | |
Fair Value | $ 52,000 | [7],[8],[13] | $ 81,000 | [9],[10] | |
Percentage of Net Assets | 0% | [7],[8],[13] | 0.01% | [9],[10] | |
Investment, Identifier [Axis]: Majesco | |||||
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 1,575,000 | $ 1,575,000 | |||
Fair Value | $ (41,000) | $ (66,000) | |||
Investment, Identifier [Axis]: Majesco 1 | |||||
Variable interest rate | 7.75% | [7],[8],[16] | 7.25% | [9],[10],[15] | |
Interest Rate | 12.62% | [7],[8],[11],[16] | 11.98% | [9],[10],[12],[15] | |
Par Amount | $ 23,301,000 | [7],[8],[16] | $ 23,421,000 | [9],[10],[15] | |
Cost | 22,869,000 | [1],[7],[8],[16] | 22,948,000 | [4],[9],[10],[15] | |
Fair Value | $ 22,698,000 | [7],[8],[16] | $ 22,447,000 | [9],[10],[15] | |
Percentage of Net Assets | 1.58% | [7],[8],[16] | 1.61% | [9],[10],[15] | |
Investment, Identifier [Axis]: Majesco 2 | |||||
Variable interest rate | 7.75% | [7],[8],[13] | 7.25% | [9],[10],[14] | |
Interest Rate | 12.62% | [7],[8],[11],[13] | 11.98% | [9],[10],[12],[14] | |
Par Amount | $ 0 | [7],[8],[13] | $ 0 | [9],[10],[14] | |
Cost | (25,000) | [1],[7],[8],[13] | (29,000) | [4],[9],[10],[14] | |
Fair Value | $ (41,000) | [7],[8],[13] | $ (66,000) | [9],[10],[14] | |
Percentage of Net Assets | 0% | [7],[8],[13] | 0% | [9],[10],[14] | |
Investment, Identifier [Axis]: Mammoth Holdings, LLC | |||||
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 953,000 | $ 953,000 | |||
Fair Value | $ (8,000) | $ 0 | |||
Investment, Identifier [Axis]: Mammoth Holdings, LLC 1 | |||||
Variable interest rate | 6.50% | [7],[8],[16] | 6% | [9],[10],[15] | |
Interest Rate | 11.65% | [7],[8],[11],[16] | 9.82% | [9],[10],[12],[15] | |
Par Amount | $ 43,777,000 | [7],[8],[16] | $ 8,033,000 | [9],[10],[15] | |
Cost | 43,612,000 | [1],[7],[8],[16] | 8,008,000 | [4],[9],[10],[15] | |
Fair Value | $ 43,400,000 | [7],[8],[16] | $ 8,033,000 | [9],[10],[15] | |
Percentage of Net Assets | 3.01% | [7],[8],[16] | 0.57% | [9],[10],[15] | |
Investment, Identifier [Axis]: Mammoth Holdings, LLC 2 | |||||
Variable interest rate | 6.50% | [7],[8],[13] | 6% | [9],[10] | |
Interest Rate | 11.65% | [7],[8],[11],[13] | 9.82% | [9],[10],[12] | |
Par Amount | $ 0 | [7],[8],[13] | $ 35,966,000 | [9],[10] | |
Cost | (4,000) | [1],[7],[8],[13] | 35,846,000 | [4],[9],[10] | |
Fair Value | $ (8,000) | [7],[8],[13] | $ 35,966,000 | [9],[10] | |
Percentage of Net Assets | 0% | [7],[8],[13] | 2.57% | [9],[10] | |
Investment, Identifier [Axis]: Mammoth Holdings, LLC 3 | |||||
Variable interest rate | [9],[10],[14] | 6% | |||
Interest Rate | [9],[10],[12],[14] | 9.82% | |||
Par Amount | [9],[10],[14] | $ 0 | |||
Cost | [4],[9],[10],[14] | (3,000) | |||
Fair Value | [9],[10],[14] | $ 0 | |||
Percentage of Net Assets | [9],[10],[14] | 0% | |||
Investment, Identifier [Axis]: Mantech International CP 1 | |||||
Variable interest rate | 5.75% | [8],[17] | 5.75% | [10],[18] | |
Interest Rate | 10.80% | [8],[11],[17] | 9.58% | [10],[12],[18] | |
Par Amount | $ 357,000 | [8],[17] | $ 359,000 | [10],[18] | |
Cost | 351,000 | [1],[8],[17] | 352,000 | [4],[10],[18] | |
Fair Value | $ 355,000 | [8],[17] | $ 350,000 | [10],[18] | |
Percentage of Net Assets | 0.02% | [8],[17] | 0.03% | [10],[18] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 87,000 | $ 87,000 | |||
Fair Value | $ (1,000) | $ (2,000) | |||
Investment, Identifier [Axis]: Mantech International CP 2 | |||||
Variable interest rate | 5.75% | [8],[13],[17] | 5.75% | [10],[14],[18] | |
Interest Rate | 10.80% | [8],[11],[13],[17] | 9.58% | [10],[12],[14],[18] | |
Par Amount | $ 0 | [8],[13],[17] | $ 0 | [10],[14],[18] | |
Cost | (1,000) | [1],[8],[13],[17] | (1,000) | [4],[10],[14],[18] | |
Fair Value | $ (1,000) | [8],[13],[17] | $ (2,000) | [10],[14],[18] | |
Percentage of Net Assets | 0% | [8],[13],[17] | 0% | [10],[14],[18] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 53,000 | $ 53,000 | |||
Fair Value | $ 0 | $ (1,000) | |||
Investment, Identifier [Axis]: Mantech International CP 3 | |||||
Variable interest rate | 5.75% | [8],[13],[17] | 5.75% | [10],[14],[18] | |
Interest Rate | 10.80% | [8],[11],[13],[17] | 9.58% | [10],[12],[14],[18] | |
Par Amount | $ 0 | [8],[13],[17] | $ 0 | [10],[14],[18] | |
Cost | (1,000) | [1],[8],[13],[17] | (1,000) | [4],[10],[14],[18] | |
Fair Value | $ 0 | [8],[13],[17] | $ (2,000) | [10],[14],[18] | |
Percentage of Net Assets | 0% | [8],[13],[17] | 0% | [10],[14],[18] | |
Investment, Identifier [Axis]: Matrix Parent, Inc. | |||||
Variable interest rate | 8% | [8],[17] | 8% | [10],[18] | |
Interest Rate | 13.28% | [8],[11],[17] | 12.55% | [10],[12],[18] | |
Par Amount | $ 10,667,000 | [8],[17] | $ 10,667,000 | [10],[18] | |
Cost | 10,500,000 | [1],[8],[17] | 10,493,000 | [4],[10],[18] | |
Fair Value | $ 7,419,000 | [8],[17] | $ 9,757,000 | [10],[18] | |
Percentage of Net Assets | 0.52% | [8],[17] | 0.70% | [10],[18] | |
Investment, Identifier [Axis]: Montana Buyer, Inc. | |||||
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 466,000 | $ 466,000 | |||
Fair Value | $ (13,000) | $ (16,000) | |||
Investment, Identifier [Axis]: Montana Buyer, Inc. 1 | |||||
Variable interest rate | 5.75% | [8],[17] | 5.75% | [10],[18] | |
Interest Rate | 10.83% | [8],[11],[17] | 8.70% | [10],[12],[18] | |
Par Amount | $ 4,110,000 | [8],[17] | $ 4,131,000 | [10],[18] | |
Cost | 4,036,000 | [1],[8],[17] | 4,051,000 | [4],[10],[18] | |
Fair Value | $ 3,999,000 | [8],[17] | $ 3,991,000 | [10],[18] | |
Percentage of Net Assets | 0.28% | [8],[17] | 0.29% | [10],[18] | |
Investment, Identifier [Axis]: Montana Buyer, Inc. 2 | |||||
Variable interest rate | 5.75% | [8],[13],[17] | 5.75% | [10],[14],[18] | |
Interest Rate | 10.83% | [8],[11],[13],[17] | 8.70% | [10],[12],[14],[18] | |
Par Amount | $ 0 | [8],[13],[17] | $ 0 | [10],[14],[18] | |
Cost | (8,000) | [1],[8],[13],[17] | (9,000) | [4],[10],[14],[18] | |
Fair Value | $ (13,000) | [8],[13],[17] | $ (16,000) | [10],[14],[18] | |
Percentage of Net Assets | 0% | [8],[13],[17] | 0% | [10],[14],[18] | |
Investment, Identifier [Axis]: Nellson Nutraceutical, Inc. | |||||
Variable interest rate | 5.75% | [7],[8],[16] | 5.75% | [9],[10],[15] | |
Interest Rate | 10.79% | [7],[8],[11],[16] | 10.17% | [9],[10],[12],[15] | |
Par Amount | $ 23,498,000 | [7],[8],[16] | $ 23,592,000 | [9],[10],[15] | |
Cost | 23,259,000 | [1],[7],[8],[16] | 23,439,000 | [4],[9],[10],[15] | |
Fair Value | $ 23,264,000 | [7],[8],[16] | $ 23,476,000 | [9],[10],[15] | |
Percentage of Net Assets | 1.62% | [7],[8],[16] | 1.68% | [9],[10],[15] | |
Investment, Identifier [Axis]: Netwrix Corporation And Concept Searching, Inc. 1 | |||||
Variable interest rate | 5% | [8],[17] | 5% | [10],[18] | |
Interest Rate | 10.30% | [8],[11],[17] | 9.70% | [10],[12],[18] | |
Par Amount | $ 5,412,000 | [8],[17] | $ 4,605,000 | [10],[18] | |
Cost | 5,367,000 | [1],[8],[17] | 4,562,000 | [4],[10],[18] | |
Fair Value | $ 5,236,000 | [8],[17] | $ 4,358,000 | [10],[18] | |
Percentage of Net Assets | 0.36% | [8],[17] | 0.31% | [10],[18] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 1,581,000 | $ 1,652,000 | |||
Fair Value | $ (51,000) | $ (89,000) | |||
Investment, Identifier [Axis]: Netwrix Corporation And Concept Searching, Inc. 2 | |||||
Variable interest rate | 5% | [8],[13],[17] | 5% | [10],[14],[18] | |
Interest Rate | 10.30% | [8],[11],[13],[17] | 9.70% | [10],[12],[14],[18] | |
Par Amount | $ 52,000 | [8],[13],[17] | $ 812,000 | [10],[14],[18] | |
Cost | 44,000 | [1],[8],[13],[17] | 798,000 | [4],[10],[14],[18] | |
Fair Value | $ (2,000) | [8],[13],[17] | $ 680,000 | [10],[14],[18] | |
Percentage of Net Assets | 0% | [8],[13],[17] | 0.05% | [10],[14],[18] | |
Unused Fee Rate | 0.25% | 0.50% | |||
Unfunded Commitment | $ 323,000 | $ 431,000 | |||
Fair Value | $ (10,000) | $ (23,000) | |||
Investment, Identifier [Axis]: Netwrix Corporation And Concept Searching, Inc. 3 | |||||
Variable interest rate | 5% | [8],[13],[17] | 5% | [10],[14],[18] | |
Interest Rate | 10.30% | [8],[11],[13],[17] | 9.70% | [10],[12],[14],[18] | |
Par Amount | $ 108,000 | [8],[13],[17] | $ 0 | [10],[14],[18] | |
Cost | 104,000 | [1],[8],[13],[17] | (4,000) | [4],[10],[14],[18] | |
Fair Value | $ 94,000 | [8],[13],[17] | $ (23,000) | [10],[14],[18] | |
Percentage of Net Assets | 0.01% | [8],[13],[17] | 0% | [10],[14],[18] | |
Investment, Identifier [Axis]: Oak Purchaser, Inc. 1 | |||||
Variable interest rate | 5.50% | [8],[17] | 5.50% | [10],[18] | |
Interest Rate | 10.37% | [8],[11],[17] | 9.48% | [10],[12],[18] | |
Par Amount | $ 2,792,000 | [8],[17] | $ 2,792,000 | [10],[18] | |
Cost | 2,768,000 | [1],[8],[17] | 2,766,000 | [4],[10],[18] | |
Fair Value | $ 2,697,000 | [8],[17] | $ 2,752,000 | [10],[18] | |
Percentage of Net Assets | 0.19% | [8],[17] | 0.20% | [10],[18] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 1,113,000 | $ 1,236,000 | |||
Fair Value | $ (38,000) | $ (18,000) | |||
Investment, Identifier [Axis]: Oak Purchaser, Inc. 2 | |||||
Variable interest rate | 5.50% | [8],[13],[17] | 5.50% | [10],[14],[18] | |
Interest Rate | 10.37% | [8],[11],[13],[17] | 9.48% | [10],[12],[14],[18] | |
Par Amount | $ 748,000 | [8],[13],[17] | $ 625,000 | [10],[14],[18] | |
Cost | 733,000 | [1],[8],[13],[17] | 609,000 | [4],[10],[14],[18] | |
Fair Value | $ 685,000 | [8],[13],[17] | $ 599,000 | [10],[14],[18] | |
Percentage of Net Assets | 0.05% | [8],[13],[17] | 0.04% | [10],[14],[18] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 372,000 | $ 372,000 | |||
Fair Value | $ (13,000) | $ (5,000) | |||
Investment, Identifier [Axis]: Oak Purchaser, Inc. 3 | |||||
Variable interest rate | 5.50% | [8],[13],[17] | 5.50% | [10],[14],[18] | |
Interest Rate | 10.37% | [8],[11],[13],[17] | 9.48% | [10],[12],[14],[18] | |
Par Amount | $ 0 | [8],[13],[17] | $ 0 | [10],[14],[18] | |
Cost | (3,000) | [1],[8],[13],[17] | (3,000) | [4],[10],[14],[18] | |
Fair Value | $ (13,000) | [8],[13],[17] | $ (5,000) | [10],[14],[18] | |
Percentage of Net Assets | 0% | [8],[13],[17] | 0% | [10],[14],[18] | |
Investment, Identifier [Axis]: Oakbridge Insurance Agency, LLC 1 | |||||
Variable interest rate | 5.75% | [7],[8] | 5.75% | [9],[10] | |
Interest Rate | 10.95% | [7],[8],[11] | 10.17% | [9],[10],[12] | |
Par Amount | $ 1,075,000 | [7],[8] | $ 1,078,000 | [9],[10] | |
Cost | 1,060,000 | [1],[7],[8] | 1,062,000 | [4],[9],[10] | |
Fair Value | $ 1,056,000 | [7],[8] | $ 1,062,000 | [9],[10] | |
Percentage of Net Assets | 0.07% | [7],[8] | 0.08% | [9],[10] | |
Unused Fee Rate | 1% | 1% | |||
Unfunded Commitment | $ 338,000 | $ 399,000 | |||
Fair Value | $ (6,000) | $ (3,000) | |||
Investment, Identifier [Axis]: Oakbridge Insurance Agency, LLC 2 | |||||
Variable interest rate | 5.75% | [7],[8],[13] | 5.75% | [9],[10],[14] | |
Interest Rate | 10.95% | [7],[8],[11],[13] | 10.17% | [9],[10],[12],[14] | |
Par Amount | $ 121,000 | [7],[8],[13] | $ 60,000 | [9],[10],[14] | |
Cost | 117,000 | [1],[7],[8],[13] | 56,000 | [4],[9],[10],[14] | |
Fair Value | $ 113,000 | [7],[8],[13] | $ 56,000 | [9],[10],[14] | |
Percentage of Net Assets | 0.01% | [7],[8],[13] | 0% | [9],[10],[14] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 31,000 | $ 36,000 | |||
Fair Value | $ (1,000) | $ 0 | |||
Investment, Identifier [Axis]: Oakbridge Insurance Agency, LLC 3 | |||||
Variable interest rate | 5.75% | [7],[8],[13] | 5.75% | [9],[10],[14] | |
Interest Rate | 10.95% | [7],[8],[11],[13] | 10.17% | [9],[10],[12],[14] | |
Par Amount | $ 24,000 | [7],[8],[13] | $ 19,000 | [9],[10],[14] | |
Cost | 23,000 | [1],[7],[8],[13] | 18,000 | [4],[9],[10],[14] | |
Fair Value | $ 23,000 | [7],[8],[13] | $ 18,000 | [9],[10],[14] | |
Percentage of Net Assets | 0% | [7],[8],[13] | 0% | [9],[10],[14] | |
Investment, Identifier [Axis]: Omni Intermediate Holdings, LLC | |||||
Variable interest rate | [9],[10] | 9% | |||
Interest Rate | [9],[10],[12] | 13.69% | |||
Par Amount | [9],[10] | $ 4,500,000 | |||
Cost | [4],[9],[10] | 4,374,000 | |||
Fair Value | [9],[10] | $ 4,319,000 | |||
Percentage of Net Assets | [9],[10] | 0.31% | |||
Investment, Identifier [Axis]: Omni Intermediate Holdings, LLC 1 | |||||
Variable interest rate | 5% | [7],[8] | 5% | [9],[10] | |
Interest Rate | 10.39% | [7],[8],[11] | 9.73% | [9],[10],[12] | |
Par Amount | $ 12,480,000 | [7],[8] | $ 12,131,000 | [9],[10] | |
Cost | 12,381,000 | [1],[7],[8] | 12,027,000 | [4],[9],[10] | |
Fair Value | $ 12,070,000 | [7],[8] | $ 11,617,000 | [9],[10] | |
Percentage of Net Assets | 0.84% | [7],[8] | 0.83% | [9],[10] | |
Unused Fee Rate | 1% | 1% | |||
Unfunded Commitment | $ 138,000 | $ 732,000 | |||
Fair Value | $ (5,000) | $ (31,000) | |||
Investment, Identifier [Axis]: Omni Intermediate Holdings, LLC 2 | |||||
Variable interest rate | 5% | [7],[8],[13] | 5% | [9],[10],[14] | |
Interest Rate | 10.39% | [7],[8],[11],[13] | 9.73% | [9],[10],[12],[14] | |
Par Amount | $ 1,263,000 | [7],[8],[13] | $ 531,000 | [9],[10],[14] | |
Cost | 1,246,000 | [1],[7],[8],[13] | 519,000 | [4],[9],[10],[14] | |
Fair Value | $ 1,216,000 | [7],[8],[13] | $ 471,000 | [9],[10],[14] | |
Percentage of Net Assets | 0.08% | [7],[8],[13] | 0.03% | [9],[10],[14] | |
Unused Fee Rate | 0.50% | 1% | |||
Unfunded Commitment | $ 1,065,000 | $ 173,000 | |||
Fair Value | $ (35,000) | $ (7,000) | |||
Investment, Identifier [Axis]: Omni Intermediate Holdings, LLC 3 | |||||
Variable interest rate | 5% | [7],[8],[13] | 5% | [9],[10] | |
Interest Rate | 10.39% | [7],[8],[11],[13] | 9.73% | [9],[10],[12] | |
Par Amount | $ 0 | [7],[8],[13] | $ 385,000 | [9],[10] | |
Cost | (8,000) | [1],[7],[8],[13] | 378,000 | [4],[9],[10] | |
Fair Value | $ (35,000) | [7],[8],[13] | $ 368,000 | [9],[10] | |
Percentage of Net Assets | 0% | [7],[8],[13] | 0.03% | [9],[10] | |
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 1,065,000 | ||||
Fair Value | $ (45,000) | ||||
Investment, Identifier [Axis]: Omni Intermediate Holdings, LLC 4 | |||||
Variable interest rate | 9% | [7],[8] | 5% | [9],[10],[14] | |
Interest Rate | 14.39% | [7],[8],[11] | 9.73% | [9],[10],[12],[14] | |
Par Amount | $ 4,500,000 | [7],[8] | $ 0 | [9],[10],[14] | |
Cost | 4,383,000 | [1],[7],[8] | (9,000) | [4],[9],[10],[14] | |
Fair Value | $ 4,377,000 | [7],[8] | $ (45,000) | [9],[10],[14] | |
Percentage of Net Assets | 0.30% | [7],[8] | 0% | [9],[10],[14] | |
Investment, Identifier [Axis]: PAI Holdco, Inc. | |||||
Variable interest rate | 750% | [7],[8] | 7.50% | [9],[10] | |
Interest rate, PIK | 200% | [7],[8] | 2% | [9],[10] | |
Interest Rate | 12.77% | [7],[8],[11] | 11.92% | [9],[10],[12] | |
Par Amount | $ 26,293,000 | [7],[8] | $ 26,033,000 | [9],[10] | |
Cost | 25,742,000 | [1],[7],[8] | 25,444,000 | [4],[9],[10] | |
Fair Value | $ 24,463,000 | [7],[8] | $ 23,787,000 | [9],[10] | |
Percentage of Net Assets | 1.70% | [7],[8] | 1.70% | [9],[10] | |
Investment, Identifier [Axis]: PCX Holding Corp. | |||||
Par Amount, Shares (in shares) | 6,538 | [8],[19] | 6,538 | [10],[20] | |
Cost | $ 654,000 | [1],[8],[19] | $ 654,000 | [4],[10],[20] | |
Fair Value | $ 885,000 | [8],[19] | $ 747,000 | [10],[20] | |
Percentage of Net Assets | 0.06% | [8],[19] | 0.05% | [10],[20] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 1,296,000 | $ 1,296,000 | |||
Fair Value | $ (25,000) | $ (42,000) | |||
Investment, Identifier [Axis]: PCX Holding Corp. 1 | |||||
Variable interest rate | 6.25% | [7],[8],[16] | 6.25% | [9],[10],[15] | |
Interest Rate | 11.64% | [7],[8],[11],[16] | 10.98% | [9],[10],[12],[15] | |
Par Amount | $ 18,139,000 | [7],[8],[16] | $ 18,232,000 | [9],[10],[15] | |
Cost | 18,014,000 | [1],[7],[8],[16] | 18,093,000 | [4],[9],[10],[15] | |
Fair Value | $ 17,793,000 | [7],[8],[16] | $ 17,636,000 | [9],[10],[15] | |
Percentage of Net Assets | 1.24% | [7],[8],[16] | 1.26% | [9],[10],[15] | |
Investment, Identifier [Axis]: PCX Holding Corp. 2 | |||||
Variable interest rate | 6.25% | [7],[8] | 6.25% | [9],[10] | |
Interest Rate | 11.64% | [7],[8],[11] | 10.98% | [9],[10],[12] | |
Par Amount | $ 18,264,000 | [7],[8] | $ 18,356,000 | [9],[10] | |
Cost | 18,000,000 | [1],[7],[8] | 18,064,000 | [4],[9],[10] | |
Fair Value | $ 17,915,000 | [7],[8] | $ 17,756,000 | [9],[10] | |
Percentage of Net Assets | 1.24% | [7],[8] | 1.27% | [9],[10] | |
Investment, Identifier [Axis]: PCX Holding Corp. 3 | |||||
Variable interest rate | 6.25% | [7],[8],[13] | 6.25% | [9],[10],[14] | |
Interest Rate | 11.64% | [7],[8],[11],[13] | 10.98% | [9],[10],[12],[14] | |
Par Amount | $ 555,000 | [7],[8],[13] | $ 555,000 | [9],[10],[14] | |
Cost | 544,000 | [1],[7],[8],[13] | 542,000 | [4],[9],[10],[14] | |
Fair Value | $ 520,000 | [7],[8],[13] | $ 495,000 | [9],[10],[14] | |
Percentage of Net Assets | 0.04% | [7],[8],[13] | 0.04% | [9],[10],[14] | |
Investment, Identifier [Axis]: PDFTron Systems, Inc. | |||||
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 2,567,000 | $ 3,850,000 | |||
Fair Value | $ (69,000) | $ (128,000) | |||
Investment, Identifier [Axis]: PDFTron Systems, Inc. 1 | |||||
Variable interest rate | 5.50% | [7],[8],[16],[23] | 5.50% | [9],[10],[15],[22] | |
Interest Rate | 10.60% | [7],[8],[11],[16],[23] | 9.82% | [9],[10],[12],[15],[22] | |
Par Amount | $ 30,184,000 | [7],[8],[16],[23] | $ 30,415,000 | [9],[10],[15],[22] | |
Cost | 29,807,000 | [1],[7],[8],[16],[23] | 29,998,000 | [4],[9],[10],[15],[22] | |
Fair Value | $ 29,369,000 | [7],[8],[16],[23] | $ 29,402,000 | [9],[10],[15],[22] | |
Percentage of Net Assets | 2.04% | [7],[8],[16],[23] | 2.10% | [9],[10],[15],[22] | |
Investment, Identifier [Axis]: PDFTron Systems, Inc. 2 | |||||
Variable interest rate | 5.50% | [7],[8],[23] | 5.50% | [9],[10],[22] | |
Interest Rate | 10.60% | [7],[8],[11],[23] | 9.82% | [9],[10],[12],[22] | |
Par Amount | $ 9,776,000 | [7],[8],[23] | $ 9,800,000 | [9],[10],[22] | |
Cost | 9,628,000 | [1],[7],[8],[23] | 9,638,000 | [4],[9],[10],[22] | |
Fair Value | $ 9,512,000 | [7],[8],[23] | $ 9,474,000 | [9],[10],[22] | |
Percentage of Net Assets | 0.66% | [7],[8],[23] | 0.68% | [9],[10],[22] | |
Investment, Identifier [Axis]: PDFTron Systems, Inc. 3 | |||||
Variable interest rate | 5.50% | [7],[8],[13],[23] | 5.50% | [9],[10],[14],[22] | |
Interest Rate | 10.60% | [7],[8],[11],[13],[23] | 9.82% | [9],[10],[12],[14],[22] | |
Par Amount | $ 5,133,000 | [7],[8],[13],[23] | $ 3,850,000 | [9],[10],[14],[22] | |
Cost | 5,040,000 | [1],[7],[8],[13],[23] | 3,741,000 | [4],[9],[10],[14],[22] | |
Fair Value | $ 4,925,000 | [7],[8],[13],[23] | $ 3,594,000 | [9],[10],[14],[22] | |
Percentage of Net Assets | 0.34% | [7],[8],[13],[23] | 0.26% | [9],[10],[14],[22] | |
Investment, Identifier [Axis]: PPV Intermediate Holdings, LLC | |||||
Variable interest rate | [8],[17] | 5.75% | |||
Interest Rate | [8],[11],[17] | 10.89% | |||
Par Amount | [8],[17] | $ 4,357,000 | |||
Cost | [1],[8],[17] | 4,189,000 | |||
Fair Value | [8],[17] | $ 4,189,000 | |||
Percentage of Net Assets | [8],[17] | 0.29% | |||
Investment, Identifier [Axis]: PT Intermediate Holdings III, LLC 1 | |||||
Variable interest rate | 5.98% | [8],[17] | 5.50% | [10],[18] | |
Interest Rate | 11.37% | [8],[11],[17] | 10.23% | [10],[12],[18] | |
Par Amount | $ 28,487,000 | [8],[17] | $ 28,632,000 | [10],[18] | |
Cost | 28,255,000 | [1],[8],[17] | 28,383,000 | [4],[10],[18] | |
Fair Value | $ 26,866,000 | [8],[17] | $ 27,804,000 | [10],[18] | |
Percentage of Net Assets | 1.87% | [8],[17] | 1.99% | [10],[18] | |
Investment, Identifier [Axis]: PT Intermediate Holdings III, LLC 2 | |||||
Variable interest rate | 5.98% | [8],[17] | 5.50% | [10],[18] | |
Interest Rate | 11.37% | [8],[11],[17] | 10.23% | [10],[12],[18] | |
Par Amount | $ 15,849,000 | [8],[17] | $ 15,929,000 | [10],[18] | |
Cost | 15,717,000 | [1],[8],[17] | 15,787,000 | [4],[10],[18] | |
Fair Value | $ 14,947,000 | [8],[17] | $ 15,469,000 | [10],[18] | |
Percentage of Net Assets | 1.04% | [8],[17] | 1.11% | [10],[18] | |
Investment, Identifier [Axis]: Pareto Health Intermediate Holdings, Inc. | |||||
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 792,000 | ||||
Fair Value | $ (16,000) | ||||
Investment, Identifier [Axis]: Pareto Health Intermediate Holdings, Inc. 1 | |||||
Variable interest rate | [8],[17] | 6.50% | |||
Interest Rate | [8],[11],[17] | 11.74% | |||
Par Amount | [8],[17] | $ 6,763,000 | |||
Cost | [1],[8],[17] | 6,628,000 | |||
Fair Value | [8],[17] | $ 6,628,000 | |||
Percentage of Net Assets | [8],[17] | 0.46% | |||
Investment, Identifier [Axis]: Pareto Health Intermediate Holdings, Inc. 2 | |||||
Variable interest rate | [8],[13],[17] | 6.50% | |||
Interest Rate | [8],[11],[13],[17] | 11.74% | |||
Par Amount | [8],[13],[17] | $ 0 | |||
Cost | [1],[8],[13],[17] | (16,000) | |||
Fair Value | [8],[13],[17] | $ (16,000) | |||
Percentage of Net Assets | [8],[13],[17] | 0% | |||
Investment, Identifier [Axis]: Patriot Growth Insurance Services, LLC | |||||
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 4,485,000 | $ 4,485,000 | |||
Fair Value | $ (98,000) | $ (207,000) | |||
Investment, Identifier [Axis]: Patriot Growth Insurance Services, LLC 1 | |||||
Variable interest rate | 5.50% | [8],[16],[17] | 5.50% | [10],[15],[18] | |
Interest Rate | 10.80% | [8],[11],[16],[17] | 8.86% | [10],[12],[15],[18] | |
Par Amount | $ 62,675,000 | [8],[16],[17] | $ 61,902,000 | [10],[15],[18] | |
Cost | 61,657,000 | [1],[8],[16],[17] | 60,837,000 | [4],[10],[15],[18] | |
Fair Value | $ 61,302,000 | [8],[16],[17] | $ 59,042,000 | [10],[15],[18] | |
Percentage of Net Assets | 4.26% | [8],[16],[17] | 4.23% | [10],[15],[18] | |
Investment, Identifier [Axis]: Patriot Growth Insurance Services, LLC 2 | |||||
Variable interest rate | 5.50% | [8],[17] | 5.50% | [10],[18] | |
Interest Rate | 10.80% | [8],[11],[17] | 8.86% | [10],[12],[18] | |
Par Amount | $ 0 | [8],[17] | $ 1,089,000 | [10],[18] | |
Cost | (68,000) | [1],[8],[17] | 1,060,000 | [4],[10],[18] | |
Fair Value | $ (98,000) | [8],[17] | $ 1,039,000 | [10],[18] | |
Percentage of Net Assets | (0.01%) | [8],[17] | 0.07% | [10],[18] | |
Investment, Identifier [Axis]: Patriot Growth Insurance Services, LLC 3 | |||||
Variable interest rate | [10],[14],[18] | 5.50% | |||
Interest Rate | [10],[12],[14],[18] | 8.86% | |||
Par Amount | [10],[14],[18] | $ 0 | |||
Cost | [4],[10],[14],[18] | (74,000) | |||
Fair Value | [10],[14],[18] | $ (207,000) | |||
Percentage of Net Assets | [10],[14],[18] | (0.01%) | |||
Investment, Identifier [Axis]: Performance Health & Wellness | |||||
Variable interest rate | 6% | [7],[8],[16] | 6% | [9],[10],[15] | |
Interest Rate | 10.97% | [7],[8],[11],[16] | 10.73% | [9],[10],[12],[15] | |
Par Amount | $ 9,398,000 | [7],[8],[16] | $ 9,398,000 | [9],[10],[15] | |
Cost | 9,261,000 | [1],[7],[8],[16] | 9,248,000 | [4],[9],[10],[15] | |
Fair Value | $ 9,140,000 | [7],[8],[16] | $ 8,956,000 | [9],[10],[15] | |
Percentage of Net Assets | 0.63% | [7],[8],[16] | 0.64% | [9],[10],[15] | |
Investment, Identifier [Axis]: PerkinElmer U.S., LLC | |||||
Variable interest rate | [7],[8],[16] | 6.75% | |||
Interest Rate | [7],[8],[11],[16] | 11.99% | |||
Par Amount | [7],[8],[16] | $ 3,903,000 | |||
Cost | [1],[7],[8],[16] | 3,790,000 | |||
Fair Value | [7],[8],[16] | $ 3,797,000 | |||
Percentage of Net Assets | [7],[8],[16] | 0.26% | |||
Investment, Identifier [Axis]: Pet Holdings, Inc. (Brightpet) | |||||
Par Amount, Shares (in shares) | 13,847 | [8],[19] | 13,846 | [10],[20] | |
Cost | $ 1,385,000 | [1],[8],[19] | $ 1,385,000 | [4],[10],[20] | |
Fair Value | $ 965,000 | [8],[19] | $ 1,028,000 | [10],[20] | |
Percentage of Net Assets | 0.07% | [8],[19] | 0.07% | [10],[20] | |
Investment, Identifier [Axis]: Peter C. Foy & Associates Insurance Services, LLC | |||||
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 832,000 | ||||
Fair Value | $ (24,000) | ||||
Investment, Identifier [Axis]: Peter C. Foy & Associates Insurance Services, LLC 1 | |||||
Variable interest rate | 6% | [8],[17] | 6% | [10],[18] | |
Interest Rate | 11.22% | [8],[11],[17] | 11.12% | [10],[12],[18] | |
Par Amount | $ 18,608,000 | [8],[17] | $ 910,000 | [10],[18] | |
Cost | 18,452,000 | [1],[8],[17] | 897,000 | [4],[10],[18] | |
Fair Value | $ 18,061,000 | [8],[17] | $ 866,000 | [10],[18] | |
Percentage of Net Assets | 1.25% | [8],[17] | 0.06% | [10],[18] | |
Unused Fee Rate | 1% | ||||
Unfunded Commitment | $ 292,000 | ||||
Fair Value | $ (14,000) | ||||
Investment, Identifier [Axis]: Peter C. Foy & Associates Insurance Services, LLC 2 | |||||
Variable interest rate | 6% | [8],[17] | 6% | [10],[14],[18] | |
Interest Rate | 11.22% | [8],[11],[17] | 11.12% | [10],[12],[14],[18] | |
Par Amount | $ 7,182,000 | [8],[17] | $ 1,985,000 | [10],[14],[18] | |
Cost | 7,112,000 | [1],[8],[17] | 1,955,000 | [4],[10],[14],[18] | |
Fair Value | $ 6,971,000 | [8],[17] | $ 1,874,000 | [10],[14],[18] | |
Percentage of Net Assets | 0.48% | [8],[17] | 0.13% | [10],[14],[18] | |
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 832,000 | ||||
Fair Value | $ (40,000) | ||||
Investment, Identifier [Axis]: Peter C. Foy & Associates Insurance Services, LLC 3 | |||||
Variable interest rate | 6% | [8],[17] | 6% | [10],[18] | |
Interest Rate | 11.22% | [8],[11],[17] | 11.21% | [10],[12],[18] | |
Par Amount | $ 0 | [8],[17] | $ 17,793,000 | [10],[18] | |
Cost | (6,000) | [1],[8],[17] | 17,638,000 | [4],[10],[18] | |
Fair Value | $ (24,000) | [8],[17] | $ 16,930,000 | [10],[18] | |
Percentage of Net Assets | 0% | [8],[17] | 1.21% | [10],[18] | |
Investment, Identifier [Axis]: Peter C. Foy & Associates Insurance Services, LLC 4 | |||||
Variable interest rate | [10],[14],[18] | 6% | |||
Interest Rate | [10],[12],[14],[18] | 11.21% | |||
Par Amount | [10],[14],[18] | $ 4,942,000 | |||
Cost | [4],[10],[14],[18] | 4,899,000 | |||
Fair Value | [10],[14],[18] | $ 4,703,000 | |||
Percentage of Net Assets | [10],[14],[18] | 0.34% | |||
Investment, Identifier [Axis]: Peter C. Foy & Associates Insurance Services, LLC 5 | |||||
Variable interest rate | [10],[14],[18] | 6% | |||
Interest Rate | [10],[12],[14],[18] | 11.21% | |||
Par Amount | [10],[14],[18] | $ 0 | |||
Cost | [4],[10],[14],[18] | (7,000) | |||
Fair Value | [10],[14],[18] | $ (40,000) | |||
Percentage of Net Assets | [10],[14],[18] | 0% | |||
Investment, Identifier [Axis]: Pound Bidco, Inc 1 | |||||
Variable interest rate | [7],[8],[16],[23] | 6.50% | |||
Interest Rate | [7],[8],[11],[16],[23] | 11.66% | |||
Par Amount | [7],[8],[16],[23] | $ 6,395,000 | |||
Cost | [1],[7],[8],[16],[23] | 6,323,000 | |||
Fair Value | [7],[8],[16],[23] | $ 6,385,000 | |||
Percentage of Net Assets | [7],[8],[16],[23] | 0.44% | |||
Investment, Identifier [Axis]: Pound Bidco, Inc 2 | |||||
Variable interest rate | [7],[8],[13],[16],[23] | 6.50% | |||
Interest Rate | [7],[8],[11],[13],[16],[23] | 11.66% | |||
Par Amount | [7],[8],[13],[16],[23] | $ 0 | |||
Cost | [1],[7],[8],[13],[16],[23] | (12,000) | |||
Fair Value | [7],[8],[13],[16],[23] | $ (2,000) | |||
Percentage of Net Assets | [7],[8],[13],[16],[23] | 0% | |||
Investment, Identifier [Axis]: Pound Bidco, Inc 3 | |||||
Variable interest rate | [7],[8],[23] | 6.50% | |||
Interest Rate | [7],[8],[11],[23] | 11.66% | |||
Par Amount | [7],[8],[23] | $ 2,617,000 | |||
Cost | [1],[7],[8],[23] | 2,582,000 | |||
Fair Value | [7],[8],[23] | $ 2,582,000 | |||
Percentage of Net Assets | [7],[8],[23] | 0.18% | |||
Investment, Identifier [Axis]: Pound Bidco, Inc 4 | |||||
Variable interest rate | [7],[8],[13],[23] | 6.50% | |||
Interest Rate | [7],[8],[11],[13],[23] | 11.66% | |||
Par Amount | [7],[8],[13],[23] | $ 0 | |||
Cost | [1],[7],[8],[13],[23] | 0 | |||
Fair Value | [7],[8],[13],[23] | $ 0 | |||
Percentage of Net Assets | [7],[8],[13],[23] | 0% | |||
Investment, Identifier [Axis]: Pound Bidco, Inc. | |||||
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 1,163,000 | ||||
Fair Value | $ (5,000) | ||||
Investment, Identifier [Axis]: Pound Bidco, Inc. 1 | |||||
Variable interest rate | [9],[10],[15],[22] | 6.50% | |||
Interest Rate | [9],[10],[12],[15],[22] | 10.67% | |||
Par Amount | [9],[10],[15],[22] | $ 9,012,000 | |||
Cost | [4],[9],[10],[15],[22] | 8,888,000 | |||
Fair Value | [9],[10],[15],[22] | $ 8,970,000 | |||
Percentage of Net Assets | [9],[10],[15],[22] | 0.64% | |||
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 1,163,000 | ||||
Fair Value | $ (2,000) | ||||
Investment, Identifier [Axis]: Pound Bidco, Inc. 2 | |||||
Variable interest rate | [9],[10],[14],[15],[22] | 6.50% | |||
Interest Rate | [9],[10],[12],[14],[15],[22] | 10.67% | |||
Par Amount | [9],[10],[14],[15],[22] | $ 0 | |||
Cost | [4],[9],[10],[14],[15],[22] | (14,000) | |||
Fair Value | [9],[10],[14],[15],[22] | $ (5,000) | |||
Percentage of Net Assets | [9],[10],[14],[15],[22] | 0% | |||
Unused Fee Rate | 0% | ||||
Unfunded Commitment | $ 297,000 | ||||
Fair Value | $ 0 | ||||
Investment, Identifier [Axis]: Pritchard Industries, Inc. | |||||
Par Amount, Shares (in shares) | 1,700,000 | [8],[19] | 1,700,000 | [10],[20] | |
Cost | $ 1,700,000 | [1],[8],[19] | $ 1,700,000 | [4],[10],[20] | |
Fair Value | $ 1,921,000 | [8],[19] | $ 2,210,000 | [10],[20] | |
Percentage of Net Assets | 0.13% | [8],[19] | 0.16% | [10],[20] | |
Investment, Identifier [Axis]: Pritchard Industries, LLC | |||||
Unused Fee Rate | 1% | ||||
Unfunded Commitment | $ 691,000 | ||||
Fair Value | $ (38,000) | ||||
Investment, Identifier [Axis]: Pritchard Industries, LLC 1 | |||||
Variable interest rate | 5.50% | [8],[17] | 5.50% | [10],[18] | |
Interest Rate | 11.09% | [8],[11],[17] | 10.54% | [10],[12],[18] | |
Par Amount | $ 25,403,000 | [8],[17] | $ 25,532,000 | [10],[18] | |
Cost | 25,016,000 | [1],[8],[17] | 25,108,000 | [4],[10],[18] | |
Fair Value | $ 24,562,000 | [8],[17] | $ 24,112,000 | [10],[18] | |
Percentage of Net Assets | 1.71% | [8],[17] | 1.73% | [10],[18] | |
Investment, Identifier [Axis]: Pritchard Industries, LLC 2 | |||||
Variable interest rate | 5.50% | [8],[17] | 5.50% | [10],[14],[18] | |
Interest Rate | 11.09% | [8],[11],[17] | 10.54% | [10],[12],[14],[18] | |
Par Amount | $ 6,073,000 | [8],[17] | $ 5,413,000 | [10],[14],[18] | |
Cost | 5,977,000 | [1],[8],[17] | 5,315,000 | [4],[10],[14],[18] | |
Fair Value | $ 5,872,000 | [8],[17] | $ 5,074,000 | [10],[14],[18] | |
Percentage of Net Assets | 0.41% | [8],[17] | 0.36% | [10],[14],[18] | |
Investment, Identifier [Axis]: Procure Acquiom Financial, LLC (Procure Analytics) | |||||
Par Amount, Shares (in shares) | 1,000,000 | [8],[19] | 1,000,000 | [10],[20] | |
Cost | $ 1,000,000 | [1],[8],[19] | $ 1,000,000 | [4],[10],[20] | |
Fair Value | $ 1,230,000 | [8],[19] | $ 1,380,000 | [10],[20] | |
Percentage of Net Assets | 0.09% | [8],[19] | 0.10% | [10],[20] | |
Investment, Identifier [Axis]: Procure Acquireco, Inc. (Procure Analytics) 1 | |||||
Variable interest rate | 5% | [8],[17] | 5% | [10],[18] | |
Interest Rate | 10.17% | [8],[11],[17] | 9.35% | [10],[12],[18] | |
Par Amount | $ 3,909,000 | [8],[17] | $ 3,929,000 | [10],[18] | |
Cost | 3,844,000 | [1],[8],[17] | 3,859,000 | [4],[10],[18] | |
Fair Value | $ 3,739,000 | [8],[17] | $ 3,755,000 | [10],[18] | |
Percentage of Net Assets | 0.26% | [8],[17] | 0.27% | [10],[18] | |
Unused Fee Rate | 1% | 1% | |||
Unfunded Commitment | $ 794,000 | $ 794,000 | |||
Fair Value | $ (34,000) | $ (35,000) | |||
Investment, Identifier [Axis]: Procure Acquireco, Inc. (Procure Analytics) 2 | |||||
Variable interest rate | 5% | [8],[13],[17] | 5% | [10],[14],[18] | |
Interest Rate | 10.17% | [8],[11],[13],[17] | 9.35% | [10],[12],[14],[18] | |
Par Amount | $ 0 | [8],[13],[17] | $ 0 | [10],[14],[18] | |
Cost | (6,000) | [1],[8],[13],[17] | (7,000) | [4],[10],[14],[18] | |
Fair Value | $ (34,000) | [8],[13],[17] | $ (35,000) | [10],[14],[18] | |
Percentage of Net Assets | 0% | [8],[13],[17] | 0% | [10],[14],[18] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 238,000 | $ 238,000 | |||
Fair Value | $ (10,000) | $ (11,000) | |||
Investment, Identifier [Axis]: Procure Acquireco, Inc. (Procure Analytics) 3 | |||||
Variable interest rate | 5% | [8],[13],[17] | 5% | [10],[14],[18] | |
Interest Rate | 10.17% | [8],[11],[13],[17] | 9.35% | [10],[12],[14],[18] | |
Par Amount | $ 0 | [8],[13],[17] | $ 0 | [10],[14],[18] | |
Cost | (3,000) | [1],[8],[13],[17] | (4,000) | [4],[10],[14],[18] | |
Fair Value | $ (10,000) | [8],[13],[17] | $ (11,000) | [10],[14],[18] | |
Percentage of Net Assets | 0% | [8],[13],[17] | 0% | [10],[14],[18] | |
Investment, Identifier [Axis]: Project Boost Purchaser, LLC 1 | |||||
Variable interest rate | 5.25% | [8],[17] | 5.25% | [10],[18] | |
Interest Rate | 10.38% | [8],[11],[17] | 9.65% | [10],[12],[18] | |
Par Amount | $ 5,472,000 | [8],[17] | $ 5,414,000 | [10],[18] | |
Cost | 5,424,000 | [1],[8],[17] | 5,364,000 | [4],[10],[18] | |
Fair Value | $ 5,462,000 | [8],[17] | $ 5,362,000 | [10],[18] | |
Percentage of Net Assets | 0.38% | [8],[17] | 0.38% | [10],[18] | |
Unused Fee Rate | 1% | 1% | |||
Unfunded Commitment | $ 814,000 | $ 1,038,000 | |||
Fair Value | $ (1,000) | $ (10,000) | |||
Investment, Identifier [Axis]: Project Boost Purchaser, LLC 2 | |||||
Variable interest rate | 5.25% | [8],[13],[17] | 5.25% | [10],[14],[18] | |
Interest Rate | 10.38% | [8],[11],[13],[17] | 9.65% | [10],[12],[14],[18] | |
Par Amount | $ 0 | [8],[13],[17] | $ 85,000 | [10],[14],[18] | |
Cost | (4,000) | [1],[8],[13],[17] | 79,000 | [4],[10],[14],[18] | |
Fair Value | $ (1,000) | [8],[13],[17] | $ 74,000 | [10],[14],[18] | |
Percentage of Net Assets | 0% | [8],[13],[17] | 0.01% | [10],[14],[18] | |
Unused Fee Rate | 0.38% | 0.50% | |||
Unfunded Commitment | $ 374,000 | $ 449,000 | |||
Fair Value | $ (1,000) | $ (4,000) | |||
Investment, Identifier [Axis]: Project Boost Purchaser, LLC 3 | |||||
Variable interest rate | 5.25% | [8],[13],[17] | 5.25% | [10],[14],[18] | |
Interest Rate | 10.38% | [8],[11],[13],[17] | 9.65% | [10],[12],[14],[18] | |
Par Amount | $ 75,000 | [8],[13],[17] | $ 0 | [10],[14],[18] | |
Cost | 71,000 | [1],[8],[13],[17] | (4,000) | [4],[10],[14],[18] | |
Fair Value | $ 74,000 | [8],[13],[17] | $ (4,000) | [10],[14],[18] | |
Percentage of Net Assets | 0.01% | [8],[13],[17] | 0% | [10],[14],[18] | |
Investment, Identifier [Axis]: Project Leopard Holdings, Inc. | |||||
Variable interest rate | 5.25% | [21],[23] | 5.25% | [22],[26] | |
Interest Rate | 10.45% | [11],[21],[23] | 9.80% | [12],[22],[26] | |
Par Amount | $ 6,249,000 | [21],[23] | $ 6,280,000 | [22],[26] | |
Cost | 5,855,000 | [1],[21],[23] | 5,862,000 | [4],[22],[26] | |
Fair Value | $ 5,694,000 | [21],[23] | $ 5,696,000 | [22],[26] | |
Percentage of Net Assets | 0.40% | [21],[23] | 0.41% | [10],[22],[26] | |
Investment, Identifier [Axis]: Promptcare Infusion Buyer, Inc. | |||||
Unused Fee Rate | 1% | 1% | |||
Unfunded Commitment | $ 1,901,000 | $ 2,431,000 | |||
Fair Value | $ (45,000) | $ (85,000) | |||
Investment, Identifier [Axis]: Promptcare Infusion Buyer, Inc. 1 | |||||
Variable interest rate | 6% | [7],[8] | 6% | [9],[10] | |
Interest Rate | 11.25% | [7],[8],[11] | 10.22% | [9],[10],[12] | |
Par Amount | $ 9,027,000 | [7],[8] | $ 9,073,000 | [9],[10] | |
Cost | 8,892,000 | [1],[7],[8] | 8,925,000 | [4],[9],[10] | |
Fair Value | $ 8,814,000 | [7],[8] | $ 8,757,000 | [9],[10] | |
Percentage of Net Assets | 0.61% | [7],[8] | 0.63% | [9],[10] | |
Investment, Identifier [Axis]: Promptcare Infusion Buyer, Inc. 2 | |||||
Variable interest rate | 6% | [7],[8],[13] | 6% | [9],[10],[14] | |
Interest Rate | 11.25% | [7],[8],[11],[13] | 10.22% | [9],[10],[12],[14] | |
Par Amount | $ 1,406,000 | [7],[8],[13] | $ 881,000 | [9],[10],[14] | |
Cost | 1,373,000 | [1],[7],[8],[13] | 849,000 | [4],[9],[10],[14] | |
Fair Value | $ 1,328,000 | [7],[8],[13] | $ 766,000 | [9],[10],[14] | |
Percentage of Net Assets | 0.09% | [7],[8],[13] | 0.05% | [9],[10],[14] | |
Investment, Identifier [Axis]: QBS Parent, Inc. | |||||
Variable interest rate | 8.50% | [8] | 8.50% | [10] | |
Interest Rate | 13.69% | [8],[11] | 12.88% | [10],[12] | |
Par Amount | $ 15,000,000 | [8] | $ 15,000,000 | [10] | |
Cost | 14,830,000 | [1],[8] | 14,809,000 | [4],[10] | |
Fair Value | $ 14,145,000 | [8] | $ 13,569,000 | [10] | |
Percentage of Net Assets | 0.98% | [8] | 0.97% | [10] | |
Investment, Identifier [Axis]: QW Holding Corporation 1 | |||||
Variable interest rate | [9],[10],[15] | 5.50% | |||
Interest Rate | [9],[10],[12],[15] | 9.44% | |||
Par Amount | [9],[10],[15] | $ 8,907,000 | |||
Cost | [4],[9],[10],[15] | 8,791,000 | |||
Fair Value | [9],[10],[15] | $ 8,575,000 | |||
Percentage of Net Assets | [9],[10],[15] | 0.61% | |||
Unused Fee Rate | 1% | ||||
Unfunded Commitment | $ 394,000 | ||||
Fair Value | $ (15,000) | ||||
Investment, Identifier [Axis]: QW Holding Corporation 2 | |||||
Variable interest rate | [9],[10],[14] | 5.50% | |||
Interest Rate | [9],[10],[12],[14] | 9.44% | |||
Par Amount | [9],[10],[14] | $ 1,851,000 | |||
Cost | [4],[9],[10],[14] | 1,824,000 | |||
Fair Value | [9],[10],[14] | $ 1,767,000 | |||
Percentage of Net Assets | [9],[10],[14] | 0.13% | |||
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 2,250,000 | ||||
Fair Value | $ (84,000) | ||||
Investment, Identifier [Axis]: QW Holding Corporation 3 | |||||
Variable interest rate | [9],[10],[14] | 5.50% | |||
Interest Rate | [9],[10],[12],[14] | 9.44% | |||
Par Amount | [9],[10],[14] | $ 0 | |||
Cost | [4],[9],[10],[14] | (29,000) | |||
Fair Value | [9],[10],[14] | $ (84,000) | |||
Percentage of Net Assets | [9],[10],[14] | (0.01%) | |||
Investment, Identifier [Axis]: RSC Acquisition, Inc. 1 | |||||
Variable interest rate | 5.50% | [7],[8],[16] | 5.50% | [10],[15],[18] | |
Interest Rate | 10.85% | [7],[8],[11],[16] | 9.97% | [10],[12],[15],[18] | |
Par Amount | $ 16,444,000 | [7],[8],[16] | $ 24,774,000 | [10],[15],[18] | |
Cost | 16,186,000 | [1],[7],[8],[16] | 24,417,000 | [4],[10],[15],[18] | |
Fair Value | $ 16,171,000 | [7],[8],[16] | $ 23,999,000 | [10],[15],[18] | |
Percentage of Net Assets | 1.12% | [7],[8],[16] | 1.72% | [10],[15],[18] | |
Investment, Identifier [Axis]: RSC Acquisition, Inc. 2 | |||||
Variable interest rate | 5.50% | [8],[17] | 5.50% | [10],[18] | |
Interest Rate | 10.85% | [8],[11],[17] | 9.97% | [10],[12],[18] | |
Par Amount | $ 16,122,000 | [8],[17] | $ 7,961,000 | [10],[18] | |
Cost | 16,010,000 | [1],[8],[17] | 7,900,000 | [4],[10],[18] | |
Fair Value | $ 15,854,000 | [8],[17] | $ 7,712,000 | [10],[18] | |
Percentage of Net Assets | 1.10% | [8],[17] | 0.55% | [10],[18] | |
Investment, Identifier [Axis]: RSK Holdings, Inc. (Riskonnect) | |||||
Variable interest rate | 10.50% | [8],[17],[19] | 10.50% | [10],[18],[20] | |
Par Amount | [8],[17],[19] | $ 1,012,200 | |||
Par Amount, Shares (in shares) | [10],[18],[20] | 1,012,200 | |||
Cost | 1,053,000 | [1],[8],[17],[19] | $ 1,019,000 | [4],[10],[18],[20] | |
Fair Value | $ 1,144,000 | [8],[17],[19] | $ 1,053,000 | [10],[18],[20] | |
Percentage of Net Assets | 0.08% | [8],[17],[19] | 0.08% | [10],[18],[20] | |
Investment, Identifier [Axis]: Radwell Parent, LLC | |||||
Unused Fee Rate | 0.38% | ||||
Unfunded Commitment | $ 2,442,000 | ||||
Fair Value | $ (71,000) | ||||
Investment, Identifier [Axis]: Radwell Parent, LLC 1 | |||||
Variable interest rate | [10],[18] | 6.75% | |||
Interest Rate | [10],[12],[18] | 11.33% | |||
Par Amount | [10],[18] | $ 32,558,000 | |||
Cost | [4],[10],[18] | 31,607,000 | |||
Fair Value | [10],[18] | $ 31,607,000 | |||
Percentage of Net Assets | [10],[15],[18] | 2.26% | |||
Investment, Identifier [Axis]: Radwell Parent, LLC 2 | |||||
Variable interest rate | [10],[14],[18] | 6.75% | |||
Interest Rate | [10],[12],[14],[18] | 11.33% | |||
Par Amount | [10],[14],[18] | $ 0 | |||
Cost | [4],[10],[14],[18] | (71,000) | |||
Fair Value | [10],[14],[18] | $ (71,000) | |||
Percentage of Net Assets | [10],[14],[18] | (0.01%) | |||
Investment, Identifier [Axis]: Randy's Holdings, Inc. 1 | |||||
Variable interest rate | 6.50% | [7],[8] | 6.50% | [9],[10] | |
Interest Rate | 11.74% | [7],[8],[11] | 10.59% | [9],[10],[12] | |
Par Amount | $ 6,709,000 | [7],[8] | $ 6,743,000 | [9],[10] | |
Cost | 6,525,000 | [1],[7],[8] | 6,545,000 | [4],[9],[10] | |
Fair Value | $ 6,574,000 | [7],[8] | $ 6,545,000 | [9],[10] | |
Percentage of Net Assets | 0.46% | [7],[8] | 0.47% | [9],[10] | |
Unused Fee Rate | 1% | 1% | |||
Unfunded Commitment | $ 2,248,000 | $ 2,248,000 | |||
Fair Value | $ (45,000) | $ (31,000) | |||
Investment, Identifier [Axis]: Randy's Holdings, Inc. 2 | |||||
Variable interest rate | 6.50% | [7],[8],[13] | 6.50% | [9],[10],[14] | |
Interest Rate | 11.74% | [7],[8],[11],[13] | 10.59% | [9],[10],[12],[14] | |
Par Amount | $ 0 | [7],[8],[13] | $ 0 | [9],[10],[14] | |
Cost | (30,000) | [1],[7],[8],[13] | (31,000) | [4],[9],[10],[14] | |
Fair Value | $ (45,000) | [7],[8],[13] | $ (31,000) | [9],[10],[14] | |
Percentage of Net Assets | 0% | [7],[8],[13] | 0% | [9],[10],[14] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 729,000 | $ 757,000 | |||
Fair Value | $ (15,000) | $ (22,000) | |||
Investment, Identifier [Axis]: Randy's Holdings, Inc. 3 | |||||
Variable interest rate | 6.50% | [7],[8],[13] | 6.50% | [9],[10],[14] | |
Interest Rate | 11.74% | [7],[8],[11],[13] | 10.59% | [9],[10],[12],[14] | |
Par Amount | $ 170,000 | [7],[8],[13] | $ 142,000 | [9],[10],[14] | |
Cost | 146,000 | [1],[7],[8],[13] | 116,000 | [4],[9],[10],[14] | |
Fair Value | $ 151,000 | [7],[8],[13] | $ 116,000 | [9],[10],[14] | |
Percentage of Net Assets | 0.01% | [7],[8],[13] | 0.01% | [9],[10],[14] | |
Investment, Identifier [Axis]: Raptor Merger Sub Debt, LLC | |||||
Unused Fee Rate | 0.38% | ||||
Unfunded Commitment | $ 1,953,000 | ||||
Fair Value | $ (36,000) | ||||
Investment, Identifier [Axis]: Raptor Merger Sub Debt, LLC 1 | |||||
Variable interest rate | [8],[16],[17] | 6.75% | |||
Interest Rate | [8],[11],[16],[17] | 11.99% | |||
Par Amount | [8],[16],[17] | $ 32,395,000 | |||
Cost | [1],[8],[16],[17] | 31,502,000 | |||
Fair Value | [8],[16],[17] | $ 31,799,000 | |||
Percentage of Net Assets | [8],[16],[17] | 2.21% | |||
Investment, Identifier [Axis]: Raptor Merger Sub Debt, LLC 2 | |||||
Variable interest rate | [8],[13],[17] | 6.75% | |||
Interest Rate | [8],[11],[13],[17] | 11.99% | |||
Par Amount | [8],[13],[17] | $ 488,000 | |||
Cost | [1],[8],[13],[17] | 424,000 | |||
Fair Value | [8],[13],[17] | $ 444,000 | |||
Percentage of Net Assets | [8],[13],[17] | 0.03% | |||
Investment, Identifier [Axis]: Recovery Point Systems, Inc. | |||||
Par Amount, Shares (in shares) | 1,000,000 | [8],[19] | 1,000,000 | [10],[20] | |
Cost | $ 1,000,000 | [1],[8],[19] | $ 1,000,000 | [4],[10],[20] | |
Fair Value | $ 1,030,000 | [8],[19] | $ 760,000 | [10],[20] | |
Percentage of Net Assets | 0.07% | [8],[19] | 0.05% | [10],[20] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 4,000,000 | $ 4,000,000 | |||
Fair Value | $ 0 | $ (5,000) | |||
Investment, Identifier [Axis]: Recovery Point Systems, Inc. 1 | |||||
Variable interest rate | 6% | [7],[8],[16] | 6.50% | [9],[10],[15] | |
Interest Rate | 11.09% | [7],[8],[11],[16] | 10.26% | [9],[10],[12],[15] | |
Par Amount | $ 40,845,000 | [7],[8],[16] | $ 41,055,000 | [9],[10],[15] | |
Cost | 40,370,000 | [1],[7],[8],[16] | 40,514,000 | [4],[9],[10],[15] | |
Fair Value | $ 40,845,000 | [7],[8],[16] | $ 41,002,000 | [9],[10],[15] | |
Percentage of Net Assets | 2.84% | [7],[8],[16] | 2.93% | [9],[10],[15] | |
Investment, Identifier [Axis]: Recovery Point Systems, Inc. 2 | |||||
Variable interest rate | 6% | [7],[8] | 6.50% | [9],[10],[14] | |
Interest Rate | 11.09% | [7],[8],[11] | 10.26% | [9],[10],[12],[14] | |
Par Amount | $ 0 | [7],[8] | $ 0 | [9],[10],[14] | |
Cost | (42,000) | [1],[7],[8] | (48,000) | [4],[9],[10],[14] | |
Fair Value | $ 0 | [7],[8] | $ (5,000) | [9],[10],[14] | |
Percentage of Net Assets | 0% | [7],[8] | 0% | [9],[10],[14] | |
Investment, Identifier [Axis]: Red Dawn SEI Buyer, Inc. | |||||
Variable interest rate | 8.50% | [7],[8] | 8.50% | [9],[10] | |
Interest Rate | 13.84% | [7],[8],[11] | 12.67% | [9],[10],[12] | |
Par Amount | $ 19,000,000 | [7],[8] | $ 19,000,000 | [9],[10] | |
Cost | 18,689,000 | [1],[7],[8] | 18,653,000 | [4],[9],[10] | |
Fair Value | $ 18,643,000 | [7],[8] | $ 17,904,000 | [9],[10] | |
Percentage of Net Assets | 1.29% | [7],[8] | 1.28% | [9],[10] | |
Investment, Identifier [Axis]: Redwood Services Group, LLC | |||||
Unused Fee Rate | 1% | ||||
Unfunded Commitment | $ 729,000 | ||||
Fair Value | $ (32,000) | ||||
Investment, Identifier [Axis]: Redwood Services Group, LLC 1 | |||||
Variable interest rate | 6% | [8],[17] | 6% | [10],[18] | |
Interest Rate | 11.50% | [8],[11],[17] | 10.68% | [10],[12],[18] | |
Par Amount | $ 10,884,000 | [8],[17] | $ 10,939,000 | [10],[18] | |
Cost | 10,690,000 | [1],[8],[17] | 10,732,000 | [4],[10],[18] | |
Fair Value | $ 10,628,000 | [8],[17] | $ 10,462,000 | [10],[18] | |
Percentage of Net Assets | 0.74% | [8],[17] | 0.75% | [10],[18] | |
Investment, Identifier [Axis]: Redwood Services Group, LLC 2 | |||||
Variable interest rate | 6% | [8],[17] | 6% | [10],[14],[18] | |
Interest Rate | 11.50% | [8],[11],[17] | 10.68% | [10],[12],[14],[18] | |
Par Amount | $ 2,604,000 | [8],[17] | $ 1,880,000 | [10],[14],[18] | |
Cost | 2,574,000 | [1],[8],[17] | 1,848,000 | [4],[10],[14],[18] | |
Fair Value | $ 2,543,000 | [8],[17] | $ 1,766,000 | [10],[14],[18] | |
Percentage of Net Assets | 0.18% | [8],[17] | 0.13% | [10],[14],[18] | |
Investment, Identifier [Axis]: Revalize, Inc. | |||||
Variable interest rate | 10% | [7],[8],[19] | 10% | [9],[10],[20] | |
Par Amount | [7],[8],[19] | $ 2,255 | |||
Par Amount, Shares (in shares) | [9],[10],[20] | 2,255 | |||
Cost | 2,569,000 | [1],[7],[8],[19] | $ 2,391,000 | [4],[9],[10],[20] | |
Fair Value | $ 2,570,000 | [7],[8],[19] | $ 2,281,000 | [9],[10],[20] | |
Percentage of Net Assets | 0.18% | [7],[8],[19] | 0.16% | [9],[10],[20] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 71,000 | $ 71,000 | |||
Fair Value | $ (2,000) | $ (3,000) | |||
Investment, Identifier [Axis]: Revalize, Inc. 1 | |||||
Variable interest rate | 5.75% | [7],[8] | 5.75% | [9],[10] | |
Interest Rate | 10.95% | [7],[8],[11] | 10.48% | [9],[10],[12] | |
Par Amount | $ 19,554,000 | [7],[8] | $ 19,652,000 | [9],[10] | |
Cost | 19,460,000 | [1],[7],[8] | 19,543,000 | [4],[9],[10] | |
Fair Value | $ 18,850,000 | [7],[8] | $ 18,737,000 | [9],[10] | |
Percentage of Net Assets | 1.31% | [7],[8] | 1.34% | [9],[10] | |
Investment, Identifier [Axis]: Revalize, Inc. 2 | |||||
Variable interest rate | 5.75% | [7],[8],[13] | 5.75% | [9],[10],[14] | |
Interest Rate | 10.95% | [7],[8],[11],[13] | 10.48% | [9],[10],[12],[14] | |
Par Amount | $ 0 | [7],[8],[13] | $ 0 | [9],[10],[14] | |
Cost | (1,000) | [1],[7],[8],[13] | (1,000) | [4],[9],[10],[14] | |
Fair Value | $ (2,000) | [7],[8],[13] | $ (3,000) | [9],[10],[14] | |
Percentage of Net Assets | 0% | [7],[8],[13] | 0% | [9],[10],[14] | |
Investment, Identifier [Axis]: Riskonnect Parent, LLC | |||||
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 558,000 | $ 558,000 | |||
Fair Value | $ (11,000) | $ (21,000) | |||
Investment, Identifier [Axis]: Riskonnect Parent, LLC 1 | |||||
Variable interest rate | 5.50% | [8],[17] | 5.50% | [10],[18] | |
Interest Rate | 10.89% | [8],[11],[17] | 10.08% | [10],[12],[18] | |
Par Amount | $ 521,000 | [8],[17] | $ 444,000 | [10],[18] | |
Cost | 513,000 | [1],[8],[17] | 436,000 | [4],[10],[18] | |
Fair Value | $ 511,000 | [8],[17] | $ 427,000 | [10],[18] | |
Percentage of Net Assets | 0.04% | [8],[17] | 0.03% | [10],[18] | |
Investment, Identifier [Axis]: Riskonnect Parent, LLC 2 | |||||
Variable interest rate | 5.50% | [8],[13],[17] | 5.50% | [10],[14],[18] | |
Interest Rate | 10.89% | [8],[11],[13],[17] | 10.08% | [10],[12],[14],[18] | |
Par Amount | $ 0 | [8],[13],[17] | $ 80,000 | [10],[14],[18] | |
Cost | (5,000) | [1],[8],[13],[17] | 73,000 | [4],[10],[14],[18] | |
Fair Value | $ (11,000) | [8],[13],[17] | $ 55,000 | [10],[14],[18] | |
Percentage of Net Assets | 0% | [8],[13],[17] | 0% | [10],[14],[18] | |
Investment, Identifier [Axis]: RoadOne IntermodaLogistics 1 | |||||
Variable interest rate | 6.25% | [7],[8] | 6.25% | [9],[10] | |
Interest Rate | 11.12% | [7],[8],[11] | 10.81% | [9],[10],[12] | |
Par Amount | $ 1,664,000 | [7],[8] | $ 1,672,000 | [9],[10] | |
Cost | 1,617,000 | [1],[7],[8] | 1,622,000 | [4],[9],[10] | |
Fair Value | $ 1,608,000 | [7],[8] | $ 1,622,000 | [9],[10] | |
Percentage of Net Assets | 0.11% | [7],[8] | 0.12% | [9],[10] | |
Unused Fee Rate | 1% | 1% | |||
Unfunded Commitment | $ 295,000 | $ 426,000 | |||
Fair Value | $ (10,000) | $ (6,000) | |||
Investment, Identifier [Axis]: RoadOne IntermodaLogistics 2 | |||||
Variable interest rate | 6.25% | [7],[8],[13] | 6.25% | [9],[10],[14] | |
Interest Rate | 11.12% | [7],[8],[11],[13] | 10.81% | [9],[10],[12],[14] | |
Par Amount | $ 130,000 | [7],[8],[13] | $ 0 | [9],[10],[14] | |
Cost | 122,000 | [1],[7],[8],[13] | (6,000) | [4],[9],[10],[14] | |
Fair Value | $ 116,000 | [7],[8],[13] | $ (6,000) | [9],[10],[14] | |
Percentage of Net Assets | 0.01% | [7],[8],[13] | 0% | [9],[10],[14] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 310,000 | $ 255,000 | |||
Fair Value | $ (10,000) | $ (8,000) | |||
Investment, Identifier [Axis]: RoadOne IntermodaLogistics 3 | |||||
Variable interest rate | 6.25% | [7],[8],[13] | 6.25% | [9],[10],[14] | |
Interest Rate | 11.12% | [7],[8],[11],[13] | 10.81% | [9],[10],[12],[14] | |
Par Amount | $ 20,000 | [7],[8],[13] | $ 75,000 | [9],[10],[14] | |
Cost | 11,000 | [1],[7],[8],[13] | 65,000 | [4],[9],[10],[14] | |
Fair Value | $ 9,000 | [7],[8],[13] | $ 65,000 | [9],[10],[14] | |
Percentage of Net Assets | 0% | [7],[8],[13] | 0% | [9],[10],[14] | |
Investment, Identifier [Axis]: Securonix, Inc. | |||||
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 3,782,000 | $ 3,782,000 | |||
Fair Value | $ (146,000) | $ (137,000) | |||
Investment, Identifier [Axis]: Securonix, Inc. 1 | |||||
Variable interest rate | 6.50% | [8],[17] | 6.50% | [10],[18] | |
Interest Rate | 11.42% | [8],[11],[17] | 10.10% | [10],[12],[18] | |
Par Amount | $ 21,010,000 | [8],[17] | $ 21,010,000 | [10],[18] | |
Cost | 20,702,000 | [1],[8],[17] | 20,678,000 | [4],[10],[18] | |
Fair Value | $ 20,199,000 | [8],[17] | $ 20,249,000 | [10],[18] | |
Percentage of Net Assets | 1.40% | [8],[17] | 1.45% | [10],[18] | |
Investment, Identifier [Axis]: Securonix, Inc. 2 | |||||
Variable interest rate | 6.50% | [8],[13],[17] | 6.50% | [10],[14],[18] | |
Interest Rate | 11.42% | [8],[11],[13],[17] | 10.10% | [10],[12],[14],[18] | |
Par Amount | $ 0 | [8],[13],[17] | $ 0 | [10],[14],[18] | |
Cost | (53,000) | [1],[8],[13],[17] | (58,000) | [4],[10],[14],[18] | |
Fair Value | $ (146,000) | [8],[13],[17] | $ (137,000) | [10],[14],[18] | |
Percentage of Net Assets | (0.01%) | [8],[13],[17] | (0.01%) | [10],[14],[18] | |
Investment, Identifier [Axis]: Shelby Co-invest, LP (Spectrum Automotive) | |||||
Par Amount, Shares (in shares) | [10],[20] | 8,500 | |||
Cost | [4],[10],[20] | $ 850,000 | |||
Fair Value | [10],[20] | $ 1,194,000 | |||
Percentage of Net Assets | [10],[20] | 0.09% | |||
Investment, Identifier [Axis]: Shelby Co-invest, LP. (Spectrum Automotive) | |||||
Par Amount | [8],[19] | $ 8,500 | |||
Cost | [1],[8],[19] | 850,000 | |||
Fair Value | [8],[19] | $ 1,352,000 | |||
Percentage of Net Assets | [8],[19] | 0.09% | |||
Investment, Identifier [Axis]: Sherlock Buyer Corp. 1 | |||||
Variable interest rate | 5.75% | [8],[17] | 5.75% | [10],[18] | |
Interest Rate | 11.09% | [8],[11],[17] | 10.48% | [10],[12],[18] | |
Par Amount | $ 11,005,000 | [8],[17] | $ 11,061,000 | [10],[18] | |
Cost | 10,824,000 | [1],[8],[17] | 10,867,000 | [4],[10],[18] | |
Fair Value | $ 10,869,000 | [8],[17] | $ 10,816,000 | [10],[18] | |
Percentage of Net Assets | 0.75% | [8],[17] | 0.77% | [10],[18] | |
Unused Fee Rate | 1% | 1% | |||
Unfunded Commitment | $ 3,215,000 | $ 3,215,000 | |||
Fair Value | $ (40,000) | $ (71,000) | |||
Investment, Identifier [Axis]: Sherlock Buyer Corp. 2 | |||||
Variable interest rate | 5.75% | [8],[13],[17] | 5.75% | [10],[14],[18] | |
Interest Rate | 11.09% | [8],[11],[13],[17] | 10.48% | [10],[12],[14],[18] | |
Par Amount | $ 0 | [8],[13],[17] | $ 0 | [10],[14],[18] | |
Cost | (25,000) | [1],[8],[13],[17] | (27,000) | [4],[10],[14],[18] | |
Fair Value | $ (40,000) | [8],[13],[17] | $ (71,000) | [10],[14],[18] | |
Percentage of Net Assets | 0% | [8],[13],[17] | (0.01%) | [10],[14],[18] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 1,286,000 | $ 1,286,000 | |||
Fair Value | $ (16,000) | $ (28,000) | |||
Investment, Identifier [Axis]: Sherlock Buyer Corp. 3 | |||||
Variable interest rate | 5.75% | [8],[13],[17] | 5.75% | [10],[14],[18] | |
Interest Rate | 11.09% | [8],[11],[13],[17] | 10.48% | [10],[12],[14],[18] | |
Par Amount | $ 0 | [8],[13],[17] | $ 0 | [10],[14],[18] | |
Cost | (19,000) | [1],[8],[13],[17] | (21,000) | [4],[10],[14],[18] | |
Fair Value | $ (16,000) | [8],[13],[17] | $ (28,000) | [10],[14],[18] | |
Percentage of Net Assets | 0% | [8],[13],[17] | 0% | [10],[14],[18] | |
Investment, Identifier [Axis]: SitusAMC Holdings Corp. | |||||
Variable interest rate | 5.50% | [8],[17] | 5.50% | [10],[18] | |
Interest Rate | 10.84% | [8],[11],[17] | 10.23% | [10],[12],[18] | |
Par Amount | $ 3,555,000 | [8],[17] | $ 3,573,000 | [10],[18] | |
Cost | 3,527,000 | [1],[8],[17] | 3,542,000 | [4],[10],[18] | |
Fair Value | $ 3,472,000 | [8],[17] | $ 3,417,000 | [10],[18] | |
Percentage of Net Assets | 0.24% | [8],[17] | 0.24% | [10],[18] | |
Investment, Identifier [Axis]: Skykick, Inc. | |||||
Par Amount | [8],[19] | $ 134,101 | |||
Par Amount, Shares (in shares) | [10],[20] | 134,101 | |||
Cost | 1,275,000 | [1],[8],[19] | $ 1,275,000 | [4],[10],[20] | |
Fair Value | $ 1,275,000 | [8],[19] | $ 963,000 | [10],[20] | |
Percentage of Net Assets | 0.09% | [8],[19] | 0.07% | [10],[20] | |
Unused Fee Rate | 1% | ||||
Unfunded Commitment | $ 1,155,000 | ||||
Fair Value | $ (29,000) | ||||
Investment, Identifier [Axis]: Skykick, Inc. 1 | |||||
Variable interest rate | 7.25% | [7],[8] | 7.25% | [9],[10] | |
Interest Rate | 12.53% | [7],[8],[11] | 11% | [9],[10],[12] | |
Par Amount | $ 6,300,000 | [7],[8] | $ 6,300,000 | [9],[10] | |
Cost | 6,181,000 | [1],[7],[8] | 6,171,000 | [4],[9],[10] | |
Fair Value | $ 5,870,000 | [7],[8] | $ 6,142,000 | [9],[10] | |
Percentage of Net Assets | 0.41% | [7],[8] | 0.44% | [9],[10] | |
Investment, Identifier [Axis]: Skykick, Inc. 2 | |||||
Variable interest rate | 7.25% | [7],[8] | 7.25% | [9],[10],[14] | |
Interest Rate | 12.53% | [7],[8],[11] | 11% | [9],[10],[12],[14] | |
Par Amount | $ 2,415,000 | [7],[8] | $ 1,470,000 | [9],[10],[14] | |
Cost | 2,366,000 | [1],[7],[8] | 1,427,000 | [4],[9],[10],[14] | |
Fair Value | $ 2,250,000 | [7],[8] | $ 1,404,000 | [9],[10],[14] | |
Percentage of Net Assets | 0.16% | [7],[8] | 0.10% | [9],[10],[14] | |
Investment, Identifier [Axis]: Smarsh, Inc. 1 | |||||
Variable interest rate | 6.50% | [8],[17] | 6.50% | [10],[18] | |
Interest Rate | 11.84% | [8],[11],[17] | 11.29% | [10],[12],[18] | |
Par Amount | $ 4,286,000 | [8],[17] | $ 4,286,000 | [10],[18] | |
Cost | 4,213,000 | [1],[8],[17] | 4,208,000 | [4],[10],[18] | |
Fair Value | $ 4,158,000 | [8],[17] | $ 4,126,000 | [10],[18] | |
Percentage of Net Assets | 0.29% | [8],[17] | 0.30% | [10],[18] | |
Unused Fee Rate | 1% | 1% | |||
Unfunded Commitment | $ 536,000 | $ 536,000 | |||
Fair Value | $ (16,000) | $ (20,000) | |||
Investment, Identifier [Axis]: Smarsh, Inc. 2 | |||||
Variable interest rate | 6.50% | [8],[13],[17] | 6.50% | [10],[14],[18] | |
Interest Rate | 11.84% | [8],[11],[13],[17] | 11.29% | [10],[12],[14],[18] | |
Par Amount | $ 536,000 | [8],[13],[17] | $ 536,000 | [10],[14],[18] | |
Cost | 522,000 | [1],[8],[13],[17] | 521,000 | [4],[10],[14],[18] | |
Fair Value | $ 504,000 | [8],[13],[17] | $ 496,000 | [10],[14],[18] | |
Percentage of Net Assets | 0.03% | [8],[13],[17] | 0.04% | [10],[14],[18] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 268,000 | $ 268,000 | |||
Fair Value | $ (8,000) | $ (10,000) | |||
Investment, Identifier [Axis]: Smarsh, Inc. 3 | |||||
Variable interest rate | 6.50% | [8],[13],[17] | 6.50% | [10],[14],[18] | |
Interest Rate | 11.84% | [8],[11],[13],[17] | 11.29% | [10],[12],[14],[18] | |
Par Amount | $ 0 | [8],[13],[17] | $ 0 | [10],[14],[18] | |
Cost | (4,000) | [1],[8],[13],[17] | (5,000) | [4],[10],[14],[18] | |
Fair Value | $ (8,000) | [8],[13],[17] | $ (10,000) | [10],[14],[18] | |
Percentage of Net Assets | 0% | [8],[13],[17] | 0% | [10],[14],[18] | |
Investment, Identifier [Axis]: Sonny's Enterprises, LLC 1 | |||||
Variable interest rate | 6.75% | [7],[8],[16] | 6.04% | [9],[10],[15] | |
Interest Rate | 11.96% | [7],[8],[11],[16] | 10.29% | [9],[10],[12],[15] | |
Par Amount | $ 40,921,000 | [7],[8],[16] | $ 12,363,000 | [9],[10],[15] | |
Cost | 40,383,000 | [1],[7],[8],[16] | 12,178,000 | [4],[9],[10],[15] | |
Fair Value | $ 39,816,000 | [7],[8],[16] | $ 11,839,000 | [9],[10],[15] | |
Percentage of Net Assets | 2.76% | [7],[8],[16] | 0.85% | [9],[10],[15] | |
Investment, Identifier [Axis]: Sonny's Enterprises, LLC 2 | |||||
Variable interest rate | 6.75% | [7],[8],[16] | 6.75% | [9],[10] | |
Interest Rate | 11.96% | [7],[8],[11],[16] | 11% | [9],[10],[12] | |
Par Amount | $ 5,346,000 | [7],[8],[16] | $ 34,154,000 | [9],[10] | |
Cost | 5,279,000 | [1],[7],[8],[16] | 33,656,000 | [4],[9],[10] | |
Fair Value | $ 5,201,000 | [7],[8],[16] | $ 32,706,000 | [9],[10] | |
Percentage of Net Assets | 0.36% | [7],[8],[16] | 2.34% | [9],[10] | |
Investment, Identifier [Axis]: Southern Veterinary Partners, LLC | |||||
Variable interest rate | 5.50% | [7],[8] | 5.50% | [9],[10] | |
Interest Rate | 10.68% | [7],[8],[11] | 9.93% | [9],[10],[12] | |
Par Amount | $ 895,000 | [7],[8] | $ 899,000 | [9],[10] | |
Cost | 880,000 | [1],[7],[8] | 883,000 | [4],[9],[10] | |
Fair Value | $ 866,000 | [7],[8] | $ 854,000 | [9],[10] | |
Percentage of Net Assets | 0.06% | [7],[8] | 0.06% | [9],[10] | |
Investment, Identifier [Axis]: Spectrio, LLC | |||||
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 730,000 | ||||
Fair Value | $ (29,000) | ||||
Investment, Identifier [Axis]: Spectrio, LLC 1 | |||||
Variable interest rate | [7],[8],[16] | 6% | |||
Interest Rate | [7],[8],[11],[16] | 11.26% | |||
Par Amount | [7],[8],[16] | $ 31,410,000 | |||
Cost | [1],[7],[8],[16] | 31,062,000 | |||
Fair Value | [7],[8],[16] | $ 30,169,000 | |||
Percentage of Net Assets | [7],[8],[16] | 2.10% | |||
Investment, Identifier [Axis]: Spectrio, LLC 2 | |||||
Variable interest rate | [7],[8] | 6% | |||
Interest Rate | [7],[8],[11] | 11.26% | |||
Par Amount | [7],[8] | $ 12,678,000 | |||
Cost | [1],[7],[8] | 12,632,000 | |||
Fair Value | [7],[8] | $ 12,177,000 | |||
Percentage of Net Assets | [7],[8] | 0.85% | |||
Investment, Identifier [Axis]: Spectrio, LLC 3 | |||||
Variable interest rate | [7],[8] | 6% | |||
Interest Rate | [7],[8],[11] | 11.26% | |||
Par Amount | [7],[8] | $ 3,217,000 | |||
Cost | [1],[7],[8] | 3,172,000 | |||
Fair Value | [7],[8] | $ 3,061,000 | |||
Percentage of Net Assets | [7],[8] | 0.21% | |||
Investment, Identifier [Axis]: Spectrum Automotive Holdings Corp. 1 | |||||
Variable interest rate | 5.75% | [8],[16],[17] | 5.75% | [10],[15],[18] | |
Interest Rate | 11.25% | [8],[11],[16],[17] | 10.48% | [10],[12],[15],[18] | |
Par Amount | $ 23,530,000 | [8],[16],[17] | $ 23,650,000 | [10],[15],[18] | |
Cost | 23,259,000 | [1],[8],[16],[17] | 23,358,000 | [4],[10],[15],[18] | |
Fair Value | $ 22,591,000 | [8],[16],[17] | $ 22,274,000 | [10],[15],[18] | |
Percentage of Net Assets | 1.57% | [8],[16],[17] | 1.59% | [10],[15],[18] | |
Unused Fee Rate | 1% | 1% | |||
Unfunded Commitment | $ 1,154,000 | $ 1,917,000 | |||
Fair Value | $ (46,000) | $ (112,000) | |||
Investment, Identifier [Axis]: Spectrum Automotive Holdings Corp. 2 | |||||
Variable interest rate | 5.75% | [8],[13],[17] | 5.75% | [10],[14],[18] | |
Interest Rate | 11.25% | [8],[11],[13],[17] | 10.48% | [10],[12],[14],[18] | |
Par Amount | $ 5,393,000 | [8],[13],[17] | $ 4,656,000 | [10],[14],[18] | |
Cost | 5,328,000 | [1],[8],[13],[17] | 4,585,000 | [4],[10],[14],[18] | |
Fair Value | $ 5,132,000 | [8],[13],[17] | $ 4,273,000 | [10],[14],[18] | |
Percentage of Net Assets | 0.36% | [8],[13],[17] | 0.31% | [10],[14],[18] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 881,000 | $ 881,000 | |||
Fair Value | $ (35,000) | $ (51,000) | |||
Investment, Identifier [Axis]: Spectrum Automotive Holdings Corp. 3 | |||||
Variable interest rate | 5.75% | [8],[13],[17] | 5.75% | [10],[14],[18] | |
Interest Rate | 11.25% | [8],[11],[13],[17] | 10.48% | [10],[12],[14],[18] | |
Par Amount | $ 0 | [8],[13],[17] | $ 0 | [10],[14],[18] | |
Cost | (9,000) | [1],[13],[17] | (10,000) | [4],[10],[14],[18] | |
Fair Value | $ (35,000) | [13],[17] | $ (51,000) | [10],[14],[18] | |
Percentage of Net Assets | 0% | [13],[17] | 0% | [10],[14],[18] | |
Investment, Identifier [Axis]: Spotless Brands, LLC | |||||
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 145,000 | $ 145,000 | |||
Fair Value | $ (4,000) | $ (6,000) | |||
Investment, Identifier [Axis]: Spotless Brands, LLC 1 | |||||
Variable interest rate | 6.50% | [7],[8] | 6.50% | [9],[10] | |
Interest Rate | 11.72% | [7],[8],[11] | 10.71% | [9],[10],[12] | |
Par Amount | $ 4,514,000 | [7],[8] | $ 4,549,000 | [9],[10] | |
Cost | 4,435,000 | [1],[7],[8] | 4,463,000 | [4],[9],[10] | |
Fair Value | $ 4,400,000 | [7],[8] | $ 4,371,000 | [9],[10] | |
Percentage of Net Assets | 0.31% | [7],[8] | 0.31% | [9],[10] | |
Investment, Identifier [Axis]: Spotless Brands, LLC 2 | |||||
Variable interest rate | 6.50% | [7],[8] | 6.50% | [9],[10] | |
Interest Rate | 11.72% | [7],[8],[11] | 10.71% | [9],[10],[12] | |
Par Amount | $ 855,000 | [7],[8] | $ 860,000 | [9],[10] | |
Cost | 840,000 | [1],[7],[8] | 843,000 | [4],[9],[10] | |
Fair Value | $ 833,000 | [7],[8] | $ 826,000 | [9],[10] | |
Percentage of Net Assets | 0.06% | [7],[8] | 0.06% | [9],[10] | |
Investment, Identifier [Axis]: Spotless Brands, LLC 3 | |||||
Variable interest rate | 6.50% | [7],[8],[13] | 6.50% | [9],[10],[14] | |
Interest Rate | 11.72% | [7],[8],[11],[13] | 10.71% | [9],[10],[12],[14] | |
Par Amount | $ 0 | [7],[8],[13] | $ 0 | [9],[10],[14] | |
Cost | (2,000) | [1],[7],[8],[13] | (3,000) | [4],[9],[10],[14] | |
Fair Value | $ (4,000) | [7],[8],[13] | $ (6,000) | [9],[10],[14] | |
Percentage of Net Assets | 0% | [7],[8],[13] | 0% | [9],[10],[14] | |
Investment, Identifier [Axis]: Stepping Stones Healthcare Services, LLC 1 | |||||
Variable interest rate | 5.75% | [8],[17] | 5.75% | [10],[18] | |
Interest Rate | 11.09% | [8],[11],[17] | 10.48% | [10],[12],[18] | |
Par Amount | $ 4,320,000 | [8],[17] | $ 4,342,000 | [10],[18] | |
Cost | 4,266,000 | [1],[8],[17] | 4,284,000 | [4],[10],[18] | |
Fair Value | $ 4,189,000 | [8],[17] | $ 4,111,000 | [10],[18] | |
Percentage of Net Assets | 0.29% | [8],[17] | 0.29% | [10],[18] | |
Unused Fee Rate | 1% | 1% | |||
Unfunded Commitment | $ 500,000 | $ 737,000 | |||
Fair Value | $ (15,000) | $ (39,000) | |||
Investment, Identifier [Axis]: Stepping Stones Healthcare Services, LLC 2 | |||||
Variable interest rate | 5.75% | [8],[13],[17] | 5.75% | [10],[14],[18] | |
Interest Rate | 11.09% | [8],[11],[13],[17] | 10.48% | [10],[12],[14],[18] | |
Par Amount | $ 745,000 | [8],[13],[17] | $ 511,000 | [10],[14],[18] | |
Cost | 733,000 | [1],[8],[13],[17] | 500,000 | [4],[10],[14],[18] | |
Fair Value | $ 707,000 | [8],[13],[17] | $ 444,000 | [10],[14],[18] | |
Percentage of Net Assets | 0.05% | [8],[13],[17] | 0.03% | [10],[14],[18] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 500,000 | $ 175,000 | |||
Fair Value | $ (15,000) | $ (9,000) | |||
Investment, Identifier [Axis]: Stepping Stones Healthcare Services, LLC 3 | |||||
Variable interest rate | 5.75% | [8],[13],[17] | 4.75% | [10],[14],[18] | |
Interest Rate | 11.09% | [8],[11],[13],[17] | 12.25% | [10],[12],[14],[18] | |
Par Amount | $ 125,000 | [8],[13],[17] | $ 450,000 | [10],[14],[18] | |
Cost | 118,000 | [1],[8],[13],[17] | 442,000 | [4],[10],[14],[18] | |
Fair Value | $ 106,000 | [8],[13],[17] | $ 417,000 | [10],[14],[18] | |
Percentage of Net Assets | 0.01% | [8],[13],[17] | 0.03% | [10],[14],[18] | |
Investment, Identifier [Axis]: Summit Acquisition, Inc. 1 | |||||
Variable interest rate | [8],[16],[17] | 6.75% | |||
Interest Rate | [8],[11],[16],[17] | 11.99% | |||
Par Amount | [8],[16],[17] | $ 7,371,000 | |||
Cost | [1],[8],[16],[17] | 7,153,000 | |||
Fair Value | [8],[16],[17] | $ 7,153,000 | |||
Percentage of Net Assets | [8],[16],[17] | 0.50% | |||
Unused Fee Rate | 1% | ||||
Unfunded Commitment | $ 1,638,000 | ||||
Fair Value | $ (24,000) | ||||
Investment, Identifier [Axis]: Summit Acquisition, Inc. 2 | |||||
Variable interest rate | [8],[17] | 6.75% | |||
Interest Rate | [8],[11],[17] | 11.99% | |||
Par Amount | [8],[17] | $ 0 | |||
Cost | [1],[8],[17] | (24,000) | |||
Fair Value | [8],[17] | $ (24,000) | |||
Percentage of Net Assets | [8],[17] | 0% | |||
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 819,000 | ||||
Fair Value | $ (24,000) | ||||
Investment, Identifier [Axis]: Summit Acquisition, Inc. 3 | |||||
Variable interest rate | [8],[17] | 6.75% | |||
Interest Rate | [8],[11],[17] | 11.99% | |||
Par Amount | [8],[17] | $ 0 | |||
Cost | [1],[8],[17] | (24,000) | |||
Fair Value | [8],[17] | $ (24,000) | |||
Percentage of Net Assets | [8],[17] | 0% | |||
Investment, Identifier [Axis]: Summit Buyer, LLC | |||||
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 2,420,000 | ||||
Fair Value | $ (66,000) | ||||
Investment, Identifier [Axis]: Summit Buyer, LLC 1 | |||||
Variable interest rate | 5.25% | [7],[8] | 5.75% | [9],[10] | |
Interest Rate | 10.45% | [7],[8],[11] | 10.13% | [9],[10],[12] | |
Par Amount | $ 22,008,000 | [7],[8] | $ 22,120,000 | [9],[10] | |
Cost | 21,732,000 | [1],[7],[8] | 21,795,000 | [4],[9],[10] | |
Fair Value | $ 21,407,000 | [7],[8] | $ 21,142,000 | [9],[10] | |
Percentage of Net Assets | 1.49% | [7],[8] | 1.51% | [9],[10] | |
Unused Fee Rate | 1% | ||||
Unfunded Commitment | $ 3,304,000 | ||||
Fair Value | $ (146,000) | ||||
Investment, Identifier [Axis]: Summit Buyer, LLC 2 | |||||
Variable interest rate | 5.25% | [7],[8] | 5.75% | [9],[10],[14] | |
Interest Rate | 10.45% | [7],[8],[11] | 10.13% | [9],[10],[12],[14] | |
Par Amount | $ 32,064,000 | [7],[8] | $ 28,996,000 | [9],[10],[14] | |
Cost | 31,651,000 | [1],[7],[8] | 28,544,000 | [4],[9],[10],[14] | |
Fair Value | $ 31,188,000 | [7],[8] | $ 27,569,000 | [9],[10],[14] | |
Percentage of Net Assets | 2.17% | [7],[8] | 1.97% | [9],[10],[14] | |
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 2,420,000 | ||||
Fair Value | $ (107,000) | ||||
Investment, Identifier [Axis]: Summit Buyer, LLC 3 | |||||
Variable interest rate | 5.25% | [7],[8],[13] | 5.75% | [9],[10],[14] | |
Interest Rate | 10.45% | [7],[8],[11],[13] | 10.13% | [9],[10],[12],[14] | |
Par Amount | $ 0 | [7],[8],[13] | $ 0 | [9],[10],[14] | |
Cost | (27,000) | [1],[7],[8],[13] | (32,000) | [4],[9],[10],[14] | |
Fair Value | $ (66,000) | [7],[8],[13] | $ (107,000) | [9],[10],[14] | |
Percentage of Net Assets | 0% | [7],[8],[13] | (0.01%) | [9],[10],[14] | |
Investment, Identifier [Axis]: Superman Holdings, LLC | |||||
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 380,000 | ||||
Fair Value | $ (5,000) | ||||
Investment, Identifier [Axis]: Superman Holdings, LLC 1 | |||||
Variable interest rate | [7],[8] | 5.75% | |||
Interest Rate | [7],[8],[11] | 10.99% | |||
Par Amount | [7],[8] | $ 1,609,000 | |||
Cost | [1],[7],[8] | 1,570,000 | |||
Fair Value | [7],[8] | $ 1,570,000 | |||
Percentage of Net Assets | [7],[8] | 0.11% | |||
Investment, Identifier [Axis]: Superman Holdings, LLC 2 | |||||
Variable interest rate | [7],[8],[13] | 5.75% | |||
Interest Rate | [7],[8],[11],[13] | 10.99% | |||
Par Amount | [7],[8],[13] | $ 0 | |||
Cost | [1],[7],[8],[13] | (5,000) | |||
Fair Value | [7],[8],[13] | $ (5,000) | |||
Percentage of Net Assets | [7],[8],[13] | 0% | |||
Investment, Identifier [Axis]: Surewerx Purchaser III, Inc. 1 | |||||
Variable interest rate | 6.75% | [8],[17],[23] | 6.75% | [10],[18],[22] | |
Interest Rate | 11.99% | [8],[11],[17],[23] | 11.30% | [10],[12],[18],[22] | |
Par Amount | $ 5,474,000 | [8],[17],[23] | $ 17,527,000 | [10],[18],[22] | |
Cost | 5,318,000 | [1],[8],[17],[23] | 17,002,000 | [4],[10],[18],[22] | |
Fair Value | $ 5,425,000 | [8],[17],[23] | $ 17,002,000 | [10],[18],[22] | |
Percentage of Net Assets | 0.38% | [8],[17],[23] | 1.22% | [10],[18],[22] | |
Unused Fee Rate | 1% | 0.50% | |||
Unfunded Commitment | $ 1,128,000 | $ 1,681,000 | |||
Fair Value | $ (10,000) | $ (50,000) | |||
Investment, Identifier [Axis]: Surewerx Purchaser III, Inc. 2 | |||||
Variable interest rate | 6.75% | [8],[13],[17],[23] | 6.75% | [10],[14],[18],[22] | |
Interest Rate | 11.99% | [8],[11],[13],[17],[23] | 11.30% | [10],[12],[14],[18],[22] | |
Par Amount | $ 0 | [8],[13],[17],[23] | $ 0 | [10],[14],[18],[22] | |
Cost | (21,000) | [1],[8],[13],[17],[23] | (72,000) | [4],[10],[14],[18],[22] | |
Fair Value | $ (10,000) | [8],[13],[17],[23] | $ (72,000) | [10],[14],[18],[22] | |
Percentage of Net Assets | 0% | [8],[13],[17],[23] | (0.01%) | [10],[14],[18],[22] | |
Unused Fee Rate | 0.50% | 1% | |||
Unfunded Commitment | $ 880,000 | $ 3,601,000 | |||
Fair Value | $ (8,000) | $ (72,000) | |||
Investment, Identifier [Axis]: Surewerx Purchaser III, Inc. 3 | |||||
Variable interest rate | 6.75% | [8],[13],[17],[23] | 6.75% | [10],[14],[18],[22] | |
Interest Rate | 11.99% | [8],[11],[13],[17],[23] | 11.30% | [10],[12],[14],[18],[22] | |
Par Amount | $ 187,000 | [8],[13],[17],[23] | $ 240,000 | [10],[14],[18],[22] | |
Cost | 157,000 | [1],[8],[13],[17],[23] | 183,000 | [4],[10],[14],[18],[22] | |
Fair Value | $ 177,000 | [8],[13],[17],[23] | $ 183,000 | [10],[14],[18],[22] | |
Percentage of Net Assets | 0.01% | [8],[13],[17],[23] | 0.01% | [10],[14],[18],[22] | |
Investment, Identifier [Axis]: Surewerx Topco, LP | |||||
Par Amount | [8],[19],[23] | $ 512 | |||
Par Amount, Shares (in shares) | [10],[20],[22] | 512 | |||
Cost | 512,000 | [1],[8],[19],[23] | $ 512,000 | [4],[10],[20],[22] | |
Fair Value | $ 550,000 | [8],[19],[23] | $ 512,000 | [10],[20],[22] | |
Percentage of Net Assets | 0.04% | [8],[19],[23] | 0.04% | [10],[20],[22] | |
Investment, Identifier [Axis]: Suveto 1 | |||||
Variable interest rate | 4.25% | [8],[13],[17] | 5% | [10],[14],[18] | |
Interest Rate | 9.45% | [8],[11],[13],[17] | 9.38% | [10],[12],[14],[18] | |
Par Amount | $ 11,592,000 | [8],[13],[17] | $ 11,038,000 | [10],[14],[18] | |
Cost | 11,496,000 | [1],[8],[13],[17] | 10,935,000 | [4],[10],[14],[18] | |
Fair Value | $ 11,077,000 | [8],[13],[17] | $ 10,461,000 | [10],[14],[18] | |
Percentage of Net Assets | 0.77% | [8],[13],[17] | 0.75% | [10],[14],[18] | |
Unused Fee Rate | 1% | 1% | |||
Unfunded Commitment | $ 4,446,000 | $ 5,081,000 | |||
Fair Value | $ (143,000) | $ (182,000) | |||
Investment, Identifier [Axis]: Suveto 2 | |||||
Variable interest rate | 4.25% | [8],[13],[17] | 5% | [10],[14],[18] | |
Interest Rate | 9.45% | [8],[11],[13],[17] | 9.38% | [10],[12],[14],[18] | |
Par Amount | $ 334,000 | [8],[13],[17] | $ 810,000 | [10],[14],[18] | |
Cost | 318,000 | [1],[8],[13],[17] | 793,000 | [4],[10],[14],[18] | |
Fair Value | $ 292,000 | [8],[13],[17] | $ 764,000 | [10],[14],[18] | |
Percentage of Net Assets | 0.02% | [8],[13],[17] | 0.05% | [10],[14],[18] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 963,000 | $ 486,000 | |||
Fair Value | (31,000) | $ (18,000) | |||
Investment, Identifier [Axis]: Suveto Buyer, LLC | |||||
Par Amount | [8],[19],[23] | 17,000,000 | |||
Cost | [1],[8],[19],[23] | 1,700,000 | |||
Fair Value | [8],[19],[23] | $ 2,593,000 | |||
Percentage of Net Assets | [8],[19],[23] | 0.18% | |||
Investment, Identifier [Axis]: Suveto Co-Invest, LP | |||||
Par Amount, Shares (in shares) | [10],[20],[22] | 17,000 | |||
Cost | [4],[10],[20],[22] | $ 1,700,000 | |||
Fair Value | [10],[20],[22] | $ 1,963,000 | |||
Percentage of Net Assets | [10],[20],[22] | 0.14% | |||
Investment, Identifier [Axis]: Sweep Purchaser, LLC 1 | |||||
Variable interest rate | 5.75% | [7],[8] | 5.75% | [9],[10] | |
Interest Rate | 11.02% | [7],[8],[11] | 10.47% | [9],[10],[12] | |
Par Amount | $ 8,660,000 | [7],[8] | $ 8,704,000 | [9],[10] | |
Cost | 8,552,000 | [1],[7],[8] | 8,582,000 | [4],[9],[10] | |
Fair Value | $ 8,336,000 | [7],[8] | $ 8,239,000 | [9],[10] | |
Percentage of Net Assets | 0.58% | [7],[8] | 0.59% | [9],[10] | |
Unused Fee Rate | 1% | 1% | |||
Unfunded Commitment | $ 273,000 | $ 273,000 | |||
Fair Value | $ (10,000) | $ (15,000) | |||
Investment, Identifier [Axis]: Sweep Purchaser, LLC 2 | |||||
Variable interest rate | 5.75% | [7],[8],[13] | 5.75% | [9],[10],[14] | |
Interest Rate | 11.02% | [7],[8],[11],[13] | 10.47% | [9],[10],[12],[14] | |
Par Amount | $ 5,904,000 | [7],[8],[13] | $ 5,934,000 | [9],[10],[14] | |
Cost | 5,822,000 | [1],[7],[8],[13] | 5,843,000 | [4],[9],[10],[14] | |
Fair Value | $ 5,672,000 | [7],[8],[13] | $ 5,601,000 | [9],[10],[14] | |
Percentage of Net Assets | 0.39% | [7],[8],[13] | 0.40% | [9],[10],[14] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 366,000 | $ 1,153,000 | |||
Fair Value | $ (14,000) | $ (62,000) | |||
Investment, Identifier [Axis]: Sweep Purchaser, LLC 3 | |||||
Variable interest rate | 5.75% | [7],[8],[13] | 5.75% | [9],[10],[14] | |
Interest Rate | 11.02% | [7],[8],[11],[13] | 10.47% | [9],[10],[12],[14] | |
Par Amount | $ 1,041,000 | [7],[8],[13] | $ 253,000 | [9],[10],[14] | |
Cost | 1,025,000 | [1],[7],[8],[13] | 235,000 | [4],[9],[10],[14] | |
Fair Value | $ 988,000 | [7],[8],[13] | $ 178,000 | [9],[10],[14] | |
Percentage of Net Assets | 0.07% | [7],[8],[13] | 0.01% | [9],[10],[14] | |
Investment, Identifier [Axis]: Syntax Systems Ltd 1 | |||||
Variable interest rate | 5.75% | [8],[17] | 5.50% | [10],[18],[22] | |
Interest Rate | 10.94% | [8],[11],[17] | 10.13% | [10],[12],[18],[22] | |
Par Amount | $ 35,273,000 | [8],[17] | $ 35,452,000 | [10],[18],[22] | |
Cost | 34,988,000 | [1],[8],[17] | 35,146,000 | [4],[10],[18],[22] | |
Fair Value | $ 34,010,000 | [8],[17] | $ 33,520,000 | [10],[18],[22] | |
Percentage of Net Assets | 2.36% | [8],[17] | 2.40% | [10],[18],[22] | |
Unused Fee Rate | 1% | 1% | |||
Unfunded Commitment | $ 9,356,000 | $ 9,356,000 | |||
Fair Value | $ (335,000) | $ (510,000) | |||
Investment, Identifier [Axis]: Syntax Systems Ltd 2 | |||||
Variable interest rate | 5.75% | [8],[17] | 5.50% | [10],[14],[18],[22] | |
Interest Rate | 10.94% | [8],[11],[17] | 10.13% | [10],[12],[14],[18],[22] | |
Par Amount | $ 0 | [8],[17] | $ 0 | [10],[14],[18],[22] | |
Cost | (71,000) | [1],[8],[17] | (78,000) | [4],[10],[14],[18],[22] | |
Fair Value | $ (335,000) | [8],[17] | $ (510,000) | [10],[14],[18],[22] | |
Percentage of Net Assets | (0.02%) | [8],[17] | (0.04%) | [10],[14],[18],[22] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 1,248,000 | $ 1,247,000 | |||
Fair Value | $ (45,000) | $ (68,000) | |||
Investment, Identifier [Axis]: Syntax Systems Ltd 3 | |||||
Variable interest rate | 5.75% | [8],[13],[17],[23] | 5.61% | [10],[14],[18],[22] | |
Interest Rate | 10.94% | [8],[11],[13],[17],[23] | 10.08% | [10],[12],[14],[18],[22] | |
Par Amount | $ 2,495,000 | [8],[13],[17],[23] | $ 2,495,000 | [10],[14],[18],[22] | |
Cost | 2,470,000 | [1],[8],[13],[17],[23] | 2,466,000 | [4],[10],[14],[18],[22] | |
Fair Value | $ 2,361,000 | [8],[13],[17],[23] | $ 2,291,000 | [10],[14],[18],[22] | |
Percentage of Net Assets | 0.16% | [8],[13],[17],[23] | 0.16% | [10],[14],[18],[22] | |
Investment, Identifier [Axis]: Tamarack Intermediate, LLC | |||||
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 751,000 | $ 808,000 | |||
Fair Value | $ (34,000) | $ (36,000) | |||
Investment, Identifier [Axis]: Tamarack Intermediate, LLC 1 | |||||
Variable interest rate | 5.25% | [8],[17] | 5.75% | [10],[18] | |
Interest Rate | 10.64% | [8],[11],[17] | 9.23% | [10],[12],[18] | |
Par Amount | $ 5,445,000 | [8],[17] | $ 5,473,000 | [10],[18] | |
Cost | 5,355,000 | [1],[8],[17] | 5,375,000 | [4],[10],[18] | |
Fair Value | $ 5,197,000 | [8],[17] | $ 5,232,000 | [10],[18] | |
Percentage of Net Assets | 0.36% | [8],[17] | 0.37% | [10],[18] | |
Investment, Identifier [Axis]: Tamarack Intermediate, LLC 2 | |||||
Variable interest rate | 5.25% | [8],[13],[17] | 5.75% | [10],[14],[18] | |
Interest Rate | 10.64% | [8],[11],[13],[17] | 9.23% | [10],[12],[14],[18] | |
Par Amount | $ 149,000 | [8],[13],[17] | $ 91,000 | [10],[14],[18] | |
Cost | 134,000 | [1],[8],[13],[17] | 76,000 | [4],[10],[14],[18] | |
Fair Value | $ 108,000 | [8],[13],[17] | $ 52,000 | [10],[14],[18] | |
Percentage of Net Assets | 0.01% | [8],[13],[17] | 0% | [10],[14],[18] | |
Investment, Identifier [Axis]: Tank Holding Corp. | |||||
Unused Fee Rate | 0.38% | ||||
Unfunded Commitment | $ 667,000 | ||||
Fair Value | $ (37,000) | ||||
Investment, Identifier [Axis]: Tank Holding Corp. 1 | |||||
Variable interest rate | 5.75% | [17] | 5.75% | [15],[18] | |
Interest Rate | 10.98% | [11],[17] | 10.17% | [12],[15],[18] | |
Par Amount | $ 15,793,000 | [17] | $ 14,129,000 | [15],[18] | |
Cost | 15,507,000 | [1],[17] | 13,875,000 | [4],[15],[18] | |
Fair Value | $ 15,185,000 | [17] | $ 13,352,000 | [15],[18] | |
Percentage of Net Assets | 1.05% | [17] | 0.96% | [15],[18] | |
Unused Fee Rate | 1% | ||||
Unfunded Commitment | $ 745,000 | ||||
Fair Value | $ (11,000) | ||||
Investment, Identifier [Axis]: Tank Holding Corp. 2 | |||||
Variable interest rate | 5.75% | [8],[13],[17] | 4.75% | [14],[18] | |
Interest Rate | 10.98% | [8],[11],[13],[17] | 12.25% | [12],[14],[18] | |
Par Amount | $ 0 | [8],[13],[17] | $ 133,000 | [14],[18] | |
Cost | (11,000) | [1],[8],[13],[17] | 119,000 | [4],[14],[18] | |
Fair Value | $ (11,000) | [8],[13],[17] | $ 89,000 | [14],[18] | |
Percentage of Net Assets | 0% | [8],[13],[17] | 0.01% | [14],[18] | |
Unused Fee Rate | 0.38% | ||||
Unfunded Commitment | $ 293,000 | ||||
Fair Value | $ (12,000) | ||||
Investment, Identifier [Axis]: Tank Holding Corp. 3 | |||||
Variable interest rate | [17] | 5.75% | |||
Interest Rate | [11],[17] | 10.98% | |||
Par Amount | [17] | $ 507,000 | |||
Cost | [1],[17] | 494,000 | |||
Fair Value | [17] | $ 475,000 | |||
Percentage of Net Assets | [17] | 0.03% | |||
Investment, Identifier [Axis]: Teasdale Foods, Inc. (Teasdale Latin Foods) | |||||
Variable interest rate | 7.25% | [7],[8] | 7.25% | [9],[10] | |
Interest rate, PIK | 1% | [7],[8] | 1% | [9],[10] | |
Interest Rate | 12.84% | [7],[8],[11] | 12.29% | [9],[10],[12] | |
Par Amount | $ 10,838,000 | [7],[8] | $ 10,812,000 | [9],[10] | |
Cost | 10,722,000 | [1],[7],[8] | 10,675,000 | [4],[9],[10] | |
Fair Value | $ 9,545,000 | [7],[8] | $ 9,017,000 | [9],[10] | |
Percentage of Net Assets | 0.66% | [7],[8] | 0.65% | [9],[10] | |
Investment, Identifier [Axis]: Thrive Buyer, Inc. (Thrive Networks) | |||||
Unused Fee Rate | 0.38% | 0.50% | |||
Unfunded Commitment | $ 1,321,000 | $ 1,717,000 | |||
Fair Value | $ (45,000) | $ (42,000) | |||
Investment, Identifier [Axis]: Thrive Buyer, Inc. (Thrive Networks) 1 | |||||
Variable interest rate | 6% | [7],[8],[16] | 6% | [9],[10],[15] | |
Interest Rate | 11.45% | [7],[8],[11],[16] | 10.73% | [9],[10],[12],[15] | |
Par Amount | $ 23,054,000 | [7],[8],[16] | $ 20,561,000 | [9],[10],[15] | |
Cost | 22,709,000 | [1],[7],[8],[16] | 20,258,000 | [4],[9],[10],[15] | |
Fair Value | $ 22,275,000 | [7],[8],[16] | $ 20,059,000 | [9],[10],[15] | |
Percentage of Net Assets | 1.55% | [7],[8],[16] | 1.44% | [9],[10],[15] | |
Investment, Identifier [Axis]: Thrive Buyer, Inc. (Thrive Networks) 2 | |||||
Variable interest rate | 6% | [7],[8] | 6% | [9],[10] | |
Interest Rate | 11.45% | [7],[8],[11] | 10.73% | [9],[10],[12] | |
Par Amount | $ 16,998,000 | [7],[8] | $ 17,085,000 | [9],[10] | |
Cost | 16,762,000 | [1],[7],[8] | 16,820,000 | [4],[9],[10] | |
Fair Value | $ 16,412,000 | [7],[8] | $ 16,668,000 | [9],[10] | |
Percentage of Net Assets | 1.14% | [7],[8] | 1.19% | [9],[10] | |
Investment, Identifier [Axis]: Thrive Buyer, Inc. (Thrive Networks) 3 | |||||
Variable interest rate | 5% | [7],[8],[13] | 5% | [9],[10],[14] | |
Interest Rate | 13.25% | [7],[8],[11],[13] | 12.50% | [9],[10],[12],[14] | |
Par Amount | $ 661,000 | [7],[8],[13] | $ 264,000 | [9],[10],[14] | |
Cost | 636,000 | [1],[7],[8],[13] | 236,000 | [4],[9],[10],[14] | |
Fair Value | $ 592,000 | [7],[8],[13] | $ 216,000 | [9],[10],[14] | |
Percentage of Net Assets | 0.04% | [7],[8],[13] | 0.02% | [9],[10],[14] | |
Investment, Identifier [Axis]: Tivity Health, Inc. | |||||
Variable interest rate | 6% | [8],[17] | 6% | [10],[18] | |
Interest Rate | 11.24% | [8],[11],[17] | 10.58% | [10],[12],[18] | |
Par Amount | $ 3,692,000 | [8],[17] | $ 3,711,000 | [10],[18] | |
Cost | 3,643,000 | [1],[8],[17] | 3,658,000 | [4],[10],[18] | |
Fair Value | $ 3,647,000 | [8],[17] | $ 3,592,000 | [10],[18] | |
Percentage of Net Assets | 0.25% | [8],[17] | 0.26% | [10],[18] | |
Investment, Identifier [Axis]: Triple Lift, Inc. | |||||
Unused Fee Rate | 0.25% | 0.25% | |||
Unfunded Commitment | $ 2,467,000 | $ 2,467,000 | |||
Fair Value | $ (149,000) | $ (127,000) | |||
Investment, Identifier [Axis]: Triple Lift, Inc. 1 | |||||
Variable interest rate | 5.50% | [8],[16],[17] | 5.50% | [10],[15],[18] | |
Interest Rate | 10.62% | [8],[11],[16],[17] | 10.12% | [10],[12],[15],[18] | |
Par Amount | $ 27,440,000 | [8],[16],[17] | $ 27,580,000 | [10],[15],[18] | |
Cost | 27,030,000 | [1],[8],[16],[17] | 27,136,000 | [4],[10],[15],[18] | |
Fair Value | $ 25,785,000 | [8],[16],[17] | $ 26,162,000 | [10],[15],[18] | |
Percentage of Net Assets | 1.79% | [8],[16],[17] | 1.87% | [10],[15],[18] | |
Investment, Identifier [Axis]: Triple Lift, Inc. 2 | |||||
Variable interest rate | 5.50% | [8],[17] | 5.25% | [10],[14],[18] | |
Interest Rate | 10.55% | [8],[11],[17] | 9.58% | [10],[12],[14],[18] | |
Par Amount | $ 1,533,000 | [8],[17] | $ 1,533,000 | [10],[14],[18] | |
Cost | 1,478,000 | [1],[8],[17] | 1,472,000 | [4],[10],[14],[18] | |
Fair Value | $ 1,292,000 | [8],[17] | $ 1,328,000 | [10],[14],[18] | |
Percentage of Net Assets | 0.09% | [8],[17] | 0.10% | [10],[14],[18] | |
Investment, Identifier [Axis]: Trunk Acquisition, Inc. | |||||
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 857,000 | $ 857,000 | |||
Fair Value | $ (22,000) | $ (39,000) | |||
Investment, Identifier [Axis]: Trunk Acquisition, Inc. 1 | |||||
Variable interest rate | 5.50% | [7],[8] | 5.50% | [9],[10] | |
Interest Rate | 11.14% | [7],[8],[11] | 10.23% | [9],[10],[12] | |
Par Amount | $ 9,006,000 | [7],[8] | $ 9,051,000 | [9],[10] | |
Cost | 8,938,000 | [1],[7],[8] | 8,976,000 | [4],[9],[10] | |
Fair Value | $ 8,775,000 | [7],[8] | $ 8,638,000 | [9],[10] | |
Percentage of Net Assets | 0.61% | [7],[8] | 0.62% | [9],[10] | |
Investment, Identifier [Axis]: Trunk Acquisition, Inc. 2 | |||||
Variable interest rate | 5.50% | [7],[8],[13] | 5.50% | [9],[10],[14] | |
Interest Rate | 11.14% | [7],[8],[11],[13] | 10.23% | [9],[10],[12],[14] | |
Par Amount | $ 0 | [7],[8],[13] | $ 0 | [9],[10],[14] | |
Cost | (5,000) | [1],[7],[8],[13] | (6,000) | [4],[9],[10],[14] | |
Fair Value | $ (22,000) | [7],[8],[13] | $ (39,000) | [9],[10],[14] | |
Percentage of Net Assets | 0% | [7],[8],[13] | 0% | [9],[10],[14] | |
Investment, Identifier [Axis]: Turbo Buyer, Inc. 1 | |||||
Variable interest rate | 6% | [7],[8] | 6% | [9],[10] | |
Interest Rate | 11.59% | [7],[8],[11] | 11.15% | [9],[10],[12] | |
Par Amount | $ 37,748,000 | [7],[8] | $ 37,940,000 | [9],[10] | |
Cost | 37,306,000 | [1],[7],[8] | 37,419,000 | [4],[9],[10] | |
Fair Value | $ 36,974,000 | [7],[8] | $ 36,574,000 | [9],[10] | |
Percentage of Net Assets | 2.57% | [7],[8] | 2.62% | [9],[10] | |
Investment, Identifier [Axis]: Turbo Buyer, Inc. 2 | |||||
Variable interest rate | 6% | [7],[8] | 6% | [9],[10] | |
Interest Rate | 11.59% | [7],[8],[11] | 11.15% | [9],[10],[12] | |
Par Amount | $ 37,931,000 | [7],[8] | $ 38,123,000 | [9],[10] | |
Cost | 37,398,000 | [1],[7],[8] | 37,494,000 | [4],[9],[10] | |
Fair Value | $ 37,153,000 | [7],[8] | $ 36,751,000 | [9],[10] | |
Percentage of Net Assets | 2.58% | [7],[8] | 2.63% | [9],[10] | |
Investment, Identifier [Axis]: Two Six Labs, LLC 1 | |||||
Variable interest rate | 5.50% | [8],[17] | 5.50% | [10],[18] | |
Interest Rate | 10.74% | [8],[11],[17] | 10.08% | [10],[12],[18] | |
Par Amount | $ 10,903,000 | [8],[17] | $ 10,959,000 | [10],[18] | |
Cost | 10,742,000 | [1],[8],[17] | 10,782,000 | [4],[10],[18] | |
Fair Value | $ 10,706,000 | [8],[17] | $ 10,694,000 | [10],[18] | |
Percentage of Net Assets | 0.74% | [8],[17] | 0.77% | [10],[18] | |
Unused Fee Rate | 0.50% | 1% | |||
Unfunded Commitment | $ 2,134,000 | $ 2,134,000 | |||
Fair Value | $ (39,000) | $ (52,000) | |||
Investment, Identifier [Axis]: Two Six Labs, LLC 2 | |||||
Variable interest rate | 5.50% | [8],[13],[17] | 5.50% | [10],[14],[18] | |
Interest Rate | 10.74% | [8],[11],[13],[17] | 10.08% | [10],[12],[14],[18] | |
Par Amount | $ 2,107,000 | [8],[13],[17] | $ 2,118,000 | [10],[14],[18] | |
Cost | 2,061,000 | [1],[8],[13],[17] | 2,066,000 | [4],[10],[14],[18] | |
Fair Value | $ 2,031,000 | [8],[13],[17] | $ 2,015,000 | [10],[14],[18] | |
Percentage of Net Assets | 0.14% | [8],[13],[17] | 0.14% | [10],[14],[18] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 2,134,000 | $ 2,134,000 | |||
Fair Value | $ (39,000) | $ (52,000) | |||
Investment, Identifier [Axis]: Two Six Labs, LLC 3 | |||||
Variable interest rate | 5.50% | [8],[13],[17] | 5.50% | [10],[14],[18] | |
Interest Rate | 10.74% | [8],[11],[13],[17] | 10.08% | [10],[12],[14],[18] | |
Par Amount | $ 0 | [8],[13],[17] | $ 0 | [10],[14],[18] | |
Cost | (30,000) | [1],[8],[13],[17] | (33,000) | [4],[10],[14],[18] | |
Fair Value | $ (39,000) | [8],[13],[17] | $ (52,000) | [10],[14],[18] | |
Percentage of Net Assets | 0% | [8],[13],[17] | 0% | [10],[14],[18] | |
Investment, Identifier [Axis]: US Infra Svcs Buyer, LLC 1 | |||||
Variable interest rate | 6.75% | [7],[8],[16] | 6.75% | [9],[10],[15] | |
Interest rate, PIK | [9],[10],[15] | 0.25% | |||
Interest Rate | 12.16% | [7],[8],[11],[16] | 11.67% | [9],[10],[12],[15] | |
Par Amount | $ 15,745,000 | [7],[8],[16] | $ 16,193,000 | [9],[10],[15] | |
Cost | 15,580,000 | [1],[7],[8],[16] | 15,998,000 | [4],[9],[10],[15] | |
Fair Value | $ 15,069,000 | [7],[8],[16] | $ 15,427,000 | [9],[10],[15] | |
Percentage of Net Assets | 1.05% | [7],[8],[16] | 1.10% | [9],[10],[15] | |
Investment, Identifier [Axis]: US Infra Svcs Buyer, LLC 2 | |||||
Variable interest rate | 6.75% | [7],[8],[16] | 6.75% | [9],[10],[15] | |
Interest rate, PIK | [9],[10],[15] | 0.25% | |||
Interest Rate | 12.16% | [7],[8],[11],[16] | 11.67% | [9],[10],[12],[15] | |
Par Amount | $ 2,220,000 | [7],[8],[16] | $ 2,285,000 | [9],[10],[15] | |
Cost | 2,198,000 | [1],[7],[8],[16] | 2,259,000 | [4],[9],[10],[15] | |
Fair Value | $ 2,125,000 | [7],[8],[16] | $ 2,177,000 | [9],[10],[15] | |
Percentage of Net Assets | 0.15% | [7],[8],[16] | 0.16% | [9],[10],[15] | |
Investment, Identifier [Axis]: US Infra Svcs Buyer, LLC 3 | |||||
Variable interest rate | 6.75% | [7],[8] | 6.75% | [9],[10] | |
Interest rate, PIK | [9],[10] | 0.25% | |||
Interest Rate | 12.16% | [7],[8],[11] | 11.67% | [9],[10],[12] | |
Par Amount | $ 2,250,000 | [7],[8] | $ 2,250,000 | [9],[10] | |
Cost | 2,229,000 | [1],[7],[8] | 2,225,000 | [4],[9],[10] | |
Fair Value | $ 2,154,000 | [7],[8] | $ 2,144,000 | [9],[10] | |
Percentage of Net Assets | 0.15% | [7],[8] | 0.15% | [9],[10] | |
Investment, Identifier [Axis]: United Flow Technologies Intermediate Holdco II, LLC 1 | |||||
Variable interest rate | 5.75% | [7],[8] | 5.75% | [9],[10] | |
Interest Rate | 10.77% | [7],[8],[11] | 10.17% | [9],[10],[12] | |
Par Amount | $ 16,886,000 | [7],[8] | $ 16,972,000 | [9],[10] | |
Cost | 16,626,000 | [1],[7],[8] | 16,687,000 | [4],[9],[10] | |
Fair Value | $ 16,474,000 | [7],[8] | $ 16,457,000 | [9],[10] | |
Percentage of Net Assets | 1.14% | [7],[8] | 1.18% | [9],[10] | |
Unused Fee Rate | 1% | 1% | |||
Unfunded Commitment | $ 2,798,000 | $ 164,000 | |||
Fair Value | $ (68,000) | $ (5,000) | |||
Investment, Identifier [Axis]: United Flow Technologies Intermediate Holdco II, LLC 2 | |||||
Variable interest rate | 5.75% | [7],[8],[13] | 5.75% | [9],[10],[14] | |
Interest Rate | 10.77% | [7],[8],[11],[13] | 10.17% | [9],[10],[12],[14] | |
Par Amount | $ 16,985,000 | [7],[8],[13] | $ 9,668,000 | [9],[10],[14] | |
Cost | 16,678,000 | [1],[7],[8],[13] | 9,409,000 | [4],[9],[10],[14] | |
Fair Value | $ 16,502,000 | [7],[8],[13] | $ 9,067,000 | [9],[10],[14] | |
Percentage of Net Assets | 1.15% | [7],[8],[13] | 0.65% | [9],[10],[14] | |
Unused Fee Rate | 0.50% | 1% | |||
Unfunded Commitment | $ 3,000,000 | $ 10,000,000 | |||
Fair Value | $ (73,000) | $ (303,000) | |||
Investment, Identifier [Axis]: United Flow Technologies Intermediate Holdco II, LLC 3 | |||||
Variable interest rate | 5.75% | [7],[8],[13] | 5.75% | [9],[10],[14] | |
Interest Rate | 10.77% | [7],[8],[11],[13] | 10.17% | [9],[10],[12],[14] | |
Par Amount | $ 0 | [7],[8],[13] | $ 0 | [9],[10],[14] | |
Cost | (40,000) | [1],[7],[8],[13] | (46,000) | [4],[9],[10],[14] | |
Fair Value | $ (73,000) | [7],[8],[13] | $ (91,000) | [9],[10],[14] | |
Percentage of Net Assets | (0.01%) | [7],[8],[13] | (0.01%) | [9],[10],[14] | |
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 3,000,000 | ||||
Fair Value | $ (91,000) | ||||
Investment, Identifier [Axis]: UpStack, Inc. 1 | |||||
Variable interest rate | 5.75% | [7],[8] | 5.75% | [9],[10] | |
Interest Rate | 11.08% | [7],[8],[11] | 10.32% | [9],[10],[12] | |
Par Amount | $ 9,687,000 | [7],[8] | $ 9,737,000 | [9],[10] | |
Cost | 9,508,000 | [1],[7],[8] | 9,539,000 | [4],[9],[10] | |
Fair Value | $ 9,445,000 | [7],[8] | $ 9,444,000 | [9],[10] | |
Percentage of Net Assets | 0.66% | [7],[8] | 0.68% | [9],[10] | |
Unused Fee Rate | 1% | 1% | |||
Unfunded Commitment | $ 8,453,000 | $ 1,050,000 | |||
Fair Value | $ (128,000) | $ (32,000) | |||
Investment, Identifier [Axis]: UpStack, Inc. 2 | |||||
Variable interest rate | 5.75% | [7],[8],[13] | 5.75% | [9],[10],[14] | |
Interest Rate | 11.08% | [7],[8],[11],[13] | 10.32% | [9],[10],[12],[14] | |
Par Amount | $ 6,620,000 | [7],[8],[13] | $ 3,292,000 | [9],[10],[14] | |
Cost | 6,364,000 | [1],[7],[8],[13] | 3,205,000 | [4],[9],[10],[14] | |
Fair Value | $ 6,349,000 | [7],[8],[13] | $ 3,162,000 | [9],[10],[14] | |
Percentage of Net Assets | 0.44% | [7],[8],[13] | 0.23% | [9],[10],[14] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 875,000 | $ 875,000 | |||
Fair Value | $ (22,000) | $ (26,000) | |||
Investment, Identifier [Axis]: UpStack, Inc. 3 | |||||
Variable interest rate | 5.75% | [7],[8],[13] | 5.75% | [9],[10],[14] | |
Interest Rate | 11.08% | [7],[8],[11],[13] | 10.32% | [9],[10],[12],[14] | |
Par Amount | $ 0 | [7],[8],[13] | $ 0 | [9],[10],[14] | |
Cost | (17,000) | [1],[7],[8],[13] | (19,000) | [4],[9],[10],[14] | |
Fair Value | $ (22,000) | [7],[8],[13] | $ (26,000) | [9],[10],[14] | |
Percentage of Net Assets | 0% | [7],[8],[13] | 0% | [9],[10],[14] | |
Investment, Identifier [Axis]: User Zoom Technologies, Inc. | |||||
Variable interest rate | 7% | [8],[17] | 5.75% | [10],[18] | |
Interest Rate | 11.92% | [8],[11],[17] | 9.35% | [10],[12],[18] | |
Par Amount | $ 38,689,000 | [8],[17] | $ 38,689,000 | [10],[18] | |
Cost | 38,008,000 | [1],[8],[17] | 37,967,000 | [4],[10],[18] | |
Fair Value | $ 37,532,000 | [8],[17] | $ 37,965,000 | [10],[18] | |
Percentage of Net Assets | 2.61% | [8],[17] | 2.72% | [10],[18] | |
Investment, Identifier [Axis]: V Global Holdings, LLC | |||||
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 506,000 | $ 672,000 | |||
Fair Value | $ (16,000) | $ (34,000) | |||
Investment, Identifier [Axis]: V Global Holdings, LLC 1 | |||||
Variable interest rate | 5.75% | [8],[16],[17] | 5.75% | [10],[15],[18] | |
Interest Rate | 10.84% | [8],[11],[16],[17] | 8.99% | [10],[12],[15],[18] | |
Par Amount | $ 4,879,000 | [8],[16],[17] | $ 4,903,000 | [10],[15],[18] | |
Cost | 4,797,000 | [1],[8],[16],[17] | 4,814,000 | [4],[10],[15],[18] | |
Fair Value | $ 4,723,000 | [8],[16],[17] | $ 4,659,000 | [10],[15],[18] | |
Percentage of Net Assets | 0.33% | [8],[16],[17] | 0.33% | [10],[15],[18] | |
Investment, Identifier [Axis]: V Global Holdings, LLC 2 | |||||
Variable interest rate | 5.75% | [8],[13],[17] | 5.75% | [10],[14],[18] | |
Interest Rate | 10.84% | [8],[11],[13],[17] | 8.99% | [10],[12],[14],[18] | |
Par Amount | $ 166,000 | [8],[13],[17] | $ 0 | [10],[14],[18] | |
Cost | 157,000 | [1],[8],[13],[17] | (11,000) | [4],[10],[14],[18] | |
Fair Value | $ 145,000 | [8],[13],[17] | $ (34,000) | [10],[14],[18] | |
Percentage of Net Assets | 0.01% | [8],[13],[17] | 0% | [10],[14],[18] | |
Investment, Identifier [Axis]: VRC Companies, LLC 1 | |||||
Variable interest rate | 5.75% | [7],[8],[16] | 5.75% | [10],[18] | |
Interest Rate | 10.72% | [7],[8],[11],[16] | 8.52% | [10],[12],[18] | |
Par Amount | $ 64,267,000 | [7],[8],[16] | $ 7,540,000 | [10],[18] | |
Cost | 63,560,000 | [1],[7],[8],[16] | 7,435,000 | [4],[10],[18] | |
Fair Value | $ 63,290,000 | [7],[8],[16] | $ 7,276,000 | [10],[18] | |
Percentage of Net Assets | 4.40% | [7],[8],[16] | 0.52% | [10],[18] | |
Unused Fee Rate | 0.75% | 0.75% | |||
Unfunded Commitment | $ 718,000 | $ 6,059,000 | |||
Fair Value | $ (11,000) | $ (212,000) | |||
Investment, Identifier [Axis]: VRC Companies, LLC 2 | |||||
Variable interest rate | 5.75% | [7],[8],[13] | 5.75% | [10],[14],[18] | |
Interest Rate | 10.72% | [7],[8],[11],[13] | 8.52% | [10],[12],[14],[18] | |
Par Amount | $ 8,387,000 | [7],[8],[13] | $ 3,074,000 | [10],[14],[18] | |
Cost | 8,276,000 | [1],[7],[8],[13] | 2,950,000 | [4],[10],[14],[18] | |
Fair Value | $ 8,248,000 | [7],[8],[13] | $ 2,754,000 | [10],[14],[18] | |
Percentage of Net Assets | 0.57% | [7],[8],[13] | 0.20% | [10],[14],[18] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 1,653,000 | $ 1,653,000 | |||
Fair Value | $ (25,000) | $ (58,000) | |||
Investment, Identifier [Axis]: VRC Companies, LLC 3 | |||||
Variable interest rate | 5.75% | [7],[8],[13] | 5.50% | [10],[15],[18] | |
Interest Rate | 10.72% | [7],[8],[11],[13] | 10.65% | [10],[12],[15],[18] | |
Par Amount | $ 0 | [7],[8],[13] | $ 48,840,000 | [10],[15],[18] | |
Cost | (17,000) | [1],[7],[8],[13] | 48,260,000 | [4],[10],[15],[18] | |
Fair Value | $ (25,000) | [7],[8],[13] | $ 47,130,000 | [10],[15],[18] | |
Percentage of Net Assets | 0% | [7],[8],[13] | 3.37% | [10],[15],[18] | |
Investment, Identifier [Axis]: VRC Companies, LLC 4 | |||||
Variable interest rate | [10],[14],[15],[18] | 5.50% | |||
Interest Rate | [10],[12],[14],[15],[18] | 10.22% | |||
Par Amount | [10],[14],[15],[18] | $ 8,214,000 | |||
Cost | [4],[10],[14],[15],[18] | 8,119,000 | |||
Fair Value | [10],[14],[15],[18] | $ 7,927,000 | |||
Percentage of Net Assets | [10],[14],[15],[18] | 0.57% | |||
Investment, Identifier [Axis]: VRC Companies, LLC 5 | |||||
Variable interest rate | [10],[14],[18] | 5.50% | |||
Interest Rate | [10],[12],[14],[18] | 10.22% | |||
Par Amount | [10],[14],[18] | $ 0 | |||
Cost | [4],[10],[14],[18] | (19,000) | |||
Fair Value | [10],[14],[18] | $ (58,000) | |||
Percentage of Net Assets | [10],[14],[18] | 0% | |||
Investment, Identifier [Axis]: Valcourt Holdings II, LLC | |||||
Unused Fee Rate | 1% | ||||
Unfunded Commitment | $ 1,121,000 | ||||
Fair Value | $ (13,000) | ||||
Investment, Identifier [Axis]: Valcourt Holdings II, LLC 1 | |||||
Variable interest rate | 5.25% | [7],[8],[16] | 5.25% | [9],[10] | |
Interest Rate | 10.64% | [7],[8],[11],[16] | 9.98% | [9],[10],[12] | |
Par Amount | $ 34,894,000 | [7],[8],[16] | $ 25,145,000 | [9],[10] | |
Cost | 34,445,000 | [1],[7],[8],[16] | 24,785,000 | [4],[9],[10] | |
Fair Value | $ 34,685,000 | [7],[8],[16] | $ 24,850,000 | [9],[10] | |
Percentage of Net Assets | 2.41% | [7],[8],[16] | 1.78% | [9],[10] | |
Investment, Identifier [Axis]: Valcourt Holdings II, LLC 2 | |||||
Variable interest rate | 5.25% | [7],[8] | 5.25% | [9],[10],[15] | |
Interest Rate | 10.64% | [7],[8],[11] | 9.98% | [9],[10],[12],[15] | |
Par Amount | $ 6,818,000 | [7],[8] | $ 9,929,000 | [9],[10],[15] | |
Cost | 6,734,000 | [1],[7],[8] | 9,783,000 | [4],[9],[10],[15] | |
Fair Value | $ 6,777,000 | [7],[8] | $ 9,813,000 | [9],[10],[15] | |
Percentage of Net Assets | 0.47% | [7],[8] | 0.70% | [9],[10],[15] | |
Investment, Identifier [Axis]: Valcourt Holdings II, LLC 3 | |||||
Variable interest rate | [9],[10],[14] | 5.25% | |||
Interest Rate | [9],[10],[12],[14] | 9.98% | |||
Par Amount | [9],[10],[14] | $ 5,738,000 | |||
Cost | [4],[9],[10],[14] | 5,643,000 | |||
Fair Value | [9],[10],[14] | $ 5,658,000 | |||
Percentage of Net Assets | [9],[10],[14] | 0.40% | |||
Investment, Identifier [Axis]: Vardiman Black Holdings, LLC | |||||
Unused Fee Rate | 1.25% | ||||
Unfunded Commitment | $ 142,000 | ||||
Fair Value | $ (8,000) | ||||
Investment, Identifier [Axis]: Vardiman Black Holdings, LLC 1 | |||||
Variable interest rate | 7% | [8],[21] | 7% | [10],[26] | |
Interest Rate | 12.26% | [8],[11],[21] | 11.22% | [10],[12],[26] | |
Par Amount | $ 3,395,000 | [8],[21] | $ 3,412,000 | [10],[26] | |
Cost | 3,368,000 | [1],[8],[21] | 3,382,000 | [4],[10],[26] | |
Fair Value | $ 3,191,000 | [8],[21] | $ 3,227,000 | [10],[26] | |
Percentage of Net Assets | 0.22% | [8],[21] | 0.23% | [10],[26] | |
Investment, Identifier [Axis]: Vardiman Black Holdings, LLC 2 | |||||
Variable interest rate | 7% | [8],[21] | 7% | [10],[14],[26] | |
Interest Rate | 12.26% | [8],[11],[21] | 11.22% | [10],[12],[14],[26] | |
Par Amount | $ 4,030,000 | [8],[21] | $ 3,907,000 | [10],[14],[26] | |
Cost | 3,997,000 | [1],[8],[21] | 3,871,000 | [4],[10],[14],[26] | |
Fair Value | $ 3,787,000 | [8],[21] | $ 3,687,000 | [10],[14],[26] | |
Percentage of Net Assets | 0.26% | [8],[21] | 0.26% | [10],[14],[26] | |
Investment, Identifier [Axis]: Vermont Aus Pty Ltd | |||||
Variable interest rate | 5.50% | [8],[17],[23] | 5.65% | [10],[18],[22] | |
Interest Rate | 10.89% | [8],[11],[17],[23] | 10.23% | [10],[12],[18],[22] | |
Par Amount | $ 8,394,000 | [8],[17],[23] | $ 8,436,000 | [10],[18],[22] | |
Cost | 8,217,000 | [1],[8],[17],[23] | 8,244,000 | [4],[10],[18],[22] | |
Fair Value | $ 8,093,000 | [8],[17],[23] | $ 7,927,000 | [10],[18],[22] | |
Percentage of Net Assets | 0.56% | [8],[17],[23] | 0.57% | [10],[18],[22] | |
Investment, Identifier [Axis]: Vessco Midco Holdings, LLC | |||||
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 318,000 | $ 268,000 | |||
Fair Value | $ (2,000) | $ (4,000) | |||
Investment, Identifier [Axis]: Vessco Midco Holdings, LLC 1 | |||||
Variable interest rate | 4.50% | [7],[8],[16] | 4.50% | [9],[10],[15] | |
Interest Rate | 9.68% | [7],[8],[11],[16] | 8.88% | [9],[10],[12],[15] | |
Par Amount | $ 2,694,000 | [7],[8],[16] | $ 2,715,000 | [9],[10],[15] | |
Cost | 2,678,000 | [1],[7],[8],[16] | 2,696,000 | [4],[9],[10],[15] | |
Fair Value | $ 2,674,000 | [7],[8],[16] | $ 2,679,000 | [9],[10],[15] | |
Percentage of Net Assets | 0.19% | [7],[8],[16] | 0.19% | [9],[10],[15] | |
Investment, Identifier [Axis]: Vessco Midco Holdings, LLC 2 | |||||
Variable interest rate | 4.50% | [7],[8] | 4.50% | [9],[10] | |
Interest Rate | 9.68% | [7],[8],[11] | 8.88% | [9],[10],[12] | |
Par Amount | $ 1,755,000 | [7],[8] | $ 1,769,000 | [9],[10] | |
Cost | 1,745,000 | [1],[7],[8] | 1,757,000 | [4],[9],[10] | |
Fair Value | $ 1,742,000 | [7],[8] | $ 1,746,000 | [9],[10] | |
Percentage of Net Assets | 0.12% | [7],[8] | 0.12% | [9],[10] | |
Investment, Identifier [Axis]: Vessco Midco Holdings, LLC 3 | |||||
Variable interest rate | 4.50% | [7],[8],[13] | 3.50% | [9],[10],[14] | |
Interest Rate | 9.68% | [7],[8],[11],[13] | 11% | [9],[10],[12],[14] | |
Par Amount | $ 129,000 | [7],[8],[13] | $ 179,000 | [9],[10],[14] | |
Cost | 127,000 | [1],[7],[8],[13] | 176,000 | [4],[9],[10],[14] | |
Fair Value | $ 126,000 | [7],[8],[13] | $ 173,000 | [9],[10],[14] | |
Percentage of Net Assets | 0.01% | [7],[8],[13] | 0.01% | [9],[10],[14] | |
Investment, Identifier [Axis]: World Insurance Associates, LLC | |||||
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 1,269,000 | $ 444,000 | |||
Fair Value | $ (78,000) | $ (14,000) | |||
Investment, Identifier [Axis]: World Insurance Associates, LLC 1 | |||||
Variable interest rate | 5.75% | [7],[8],[16] | 5.75% | [9],[10],[15] | |
Interest Rate | 10.99% | [7],[8],[11],[16] | 10.33% | [9],[10],[12],[15] | |
Par Amount | $ 33,161,000 | [7],[8],[16] | $ 33,331,000 | [9],[10],[15] | |
Cost | 32,442,000 | [1],[7],[8],[16] | 32,499,000 | [4],[9],[10],[15] | |
Fair Value | $ 31,112,000 | [7],[8],[16] | $ 32,288,000 | [9],[10],[15] | |
Percentage of Net Assets | 2.16% | [7],[8],[16] | 2.31% | [9],[10],[15] | |
Investment, Identifier [Axis]: World Insurance Associates, LLC 2 | |||||
Variable interest rate | 6.75% | [7],[8],[16] | 5.75% | [9],[10],[15] | |
Interest Rate | 11.96% | [7],[8],[11],[16] | 10.33% | [9],[10],[12],[15] | |
Par Amount | $ 1,000,000 | [7],[8],[16] | $ 31,170,000 | [9],[10],[15] | |
Cost | 965,000 | [1],[7],[8],[16] | 30,528,000 | [4],[9],[10],[15] | |
Fair Value | $ 965,000 | [7],[8],[16] | $ 30,194,000 | [9],[10],[15] | |
Percentage of Net Assets | 0.07% | [7],[8],[16] | 2.16% | [9],[10],[15] | |
Investment, Identifier [Axis]: World Insurance Associates, LLC 3 | |||||
Variable interest rate | 5.75% | [7],[8],[16] | 5.75% | [9],[10],[14] | |
Interest Rate | 10.96% | [7],[8],[11],[16] | 10.33% | [9],[10],[12],[14] | |
Par Amount | $ 31,011,000 | [7],[8],[16] | $ 825,000 | [9],[10],[14] | |
Cost | 30,457,000 | [1],[7],[8],[16] | 808,000 | [4],[9],[10],[14] | |
Fair Value | $ 29,095,000 | [7],[8],[16] | $ 785,000 | [9],[10],[14] | |
Percentage of Net Assets | 2.02% | [7],[8],[16] | 0.06% | [9],[10],[14] | |
Investment, Identifier [Axis]: World Insurance Associates, LLC 4 | |||||
Variable interest rate | [7],[8] | 5.75% | |||
Interest Rate | [7],[8],[11] | 10.96% | |||
Par Amount | [7],[8] | $ 0 | |||
Cost | [1],[7],[8] | (14,000) | |||
Fair Value | [7],[8] | $ (78,000) | |||
Percentage of Net Assets | [7],[8] | (0.01%) | |||
Investment, Identifier [Axis]: Zarya Intermediate, LLC | |||||
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 3,128,000 | $ 3,649,000 | |||
Fair Value | $ 0 | $ (7,000) | |||
Investment, Identifier [Axis]: Zarya Intermediate, LLC 1 | |||||
Variable interest rate | 6.50% | [7],[8],[23] | 6.50% | [9],[10],[22] | |
Interest Rate | 11.76% | [7],[8],[11],[23] | 10.90% | [9],[10],[12],[22] | |
Par Amount | $ 35,408,000 | [7],[8],[23] | $ 35,408,000 | [9],[10],[22] | |
Cost | 35,408,000 | [1],[7],[8],[23] | 35,408,000 | [4],[9],[10],[22] | |
Fair Value | $ 35,408,000 | [7],[8],[23] | $ 35,344,000 | [9],[10],[22] | |
Percentage of Net Assets | 2.46% | [7],[8],[23] | 2.53% | [9],[10],[22] | |
Investment, Identifier [Axis]: Zarya Intermediate, LLC 2 | |||||
Variable interest rate | 6.50% | [7],[8],[13],[23] | 6.50% | [9],[10],[14],[22] | |
Interest Rate | 11.76% | [7],[8],[11],[13],[23] | 10.90% | [9],[10],[12],[14],[22] | |
Par Amount | $ 521,000 | [7],[8],[13],[23] | $ 0 | [9],[10],[14],[22] | |
Cost | 521,000 | [1],[7],[8],[13],[23] | 0 | [4],[9],[10],[14],[22] | |
Fair Value | $ 521,000 | [7],[8],[13],[23] | $ (7,000) | [9],[10],[14],[22] | |
Percentage of Net Assets | 0.04% | [7],[8],[13],[23] | 0% | [9],[10],[14],[22] | |
Investment, Identifier [Axis]: iCIMS, Inc. | |||||
Variable interest rate | [10],[18] | 7.25% | |||
Interest rate, PIK | [10],[18] | 3.88% | |||
Interest Rate | [10],[12],[18] | 11.52% | |||
Par Amount | [10],[18] | $ 6,568,000 | |||
Cost | [4],[10],[18] | 6,455,000 | |||
Fair Value | [10],[18] | $ 6,455,000 | |||
Percentage of Net Assets | [10],[18] | 0.46% | |||
Investment, Identifier [Axis]: iCIMS, Inc. 1 | |||||
Variable interest rate | [8],[17] | 7.25% | |||
Interest Rate | [8],[11],[17] | 12.38% | |||
Par Amount | [8],[17] | $ 6,568,000 | |||
Cost | [1],[8],[17] | 6,463,000 | |||
Fair Value | [8],[17] | $ 6,518,000 | |||
Percentage of Net Assets | [8],[17] | 0.45% | |||
Unused Fee Rate | 0% | ||||
Unfunded Commitment | $ 117,000 | ||||
Fair Value | $ (1,000) | ||||
Investment, Identifier [Axis]: iCIMS, Inc. 2 | |||||
Variable interest rate | [8],[17] | 7.25% | |||
Interest Rate | [8],[11],[17] | 12.38% | |||
Par Amount | [8],[17] | $ 486,000 | |||
Cost | [1],[8],[17] | 483,000 | |||
Fair Value | [8],[17] | $ 483,000 | |||
Percentage of Net Assets | [8],[17] | 0.03% | |||
Unused Fee Rate | 0.50% | ||||
Unfunded Commitment | $ 38,000 | ||||
Fair Value | $ 0 | ||||
Investment, Identifier [Axis]: iCIMS, Inc. 3 | |||||
Variable interest rate | [8],[13],[17] | 7.25% | |||
Interest Rate | [8],[11],[13],[17] | 12.38% | |||
Par Amount | [8],[13],[17] | $ 0 | |||
Cost | [1],[8],[13],[17] | (1,000) | |||
Fair Value | [8],[13],[17] | $ (1,000) | |||
Percentage of Net Assets | [8],[13],[17] | 0% | |||
Investment, Identifier [Axis]: iCIMS, Inc. 4 | |||||
Variable interest rate | [8],[16],[17] | 7.25% | |||
Interest Rate | [8],[11],[13],[17] | 12.38% | |||
Par Amount | [8],[13],[17] | $ 8,000 | |||
Cost | [1],[8],[13],[17] | 7,000 | |||
Fair Value | [8],[13],[17] | $ 7,000 | |||
Percentage of Net Assets | [8],[13],[17] | 0% | |||
Investment, Identifier [Axis]: mPulse Mobile, Inc. | |||||
Par Amount, Shares (in shares) | 165,761 | [8],[19] | 165,761 | [10],[20] | |
Cost | $ 1,220,000 | [1],[8],[19] | $ 1,220,000 | [4],[10],[20] | |
Fair Value | $ 1,092,000 | [8],[19] | $ 1,281,000 | [10],[20] | |
Percentage of Net Assets | 0.08% | [8],[19] | 0.09% | [10],[20] | |
Investment, Identifier [Axis]: mPulse Mobile, Inc. 1 | |||||
Variable interest rate | 5.25% | [8],[17] | 5.25% | [10],[18] | |
Interest Rate | 10.19% | [8],[11],[17] | 9.32% | [10],[12],[18] | |
Par Amount | $ 17,413,000 | [8],[17] | $ 17,500,000 | [10],[18] | |
Cost | 17,138,000 | [1],[8],[17] | 17,200,000 | [4],[10],[18] | |
Fair Value | $ 16,996,000 | [8],[17] | $ 16,977,000 | [10],[18] | |
Percentage of Net Assets | 1.18% | [8],[17] | 1.21% | [10],[18] | |
Unused Fee Rate | 1% | 1% | |||
Unfunded Commitment | $ 1,996,000 | $ 1,996,000 | |||
Fair Value | $ (48,000) | $ (60,000) | |||
Investment, Identifier [Axis]: mPulse Mobile, Inc. 2 | |||||
Variable interest rate | 5.25% | [8],[13],[17] | 5.25% | [10],[14],[18] | |
Interest Rate | 10.19% | [8],[11],[13],[17] | 9.32% | [10],[12],[14],[18] | |
Par Amount | $ 0 | [8],[13],[17] | $ 0 | [10],[14],[18] | |
Cost | (15,000) | [1],[8],[13],[17] | (17,000) | [4],[10],[14],[18] | |
Fair Value | $ (48,000) | [8],[13],[17] | $ (60,000) | [10],[14],[18] | |
Percentage of Net Assets | 0% | [8],[13],[17] | 0% | [10],[14],[18] | |
Unused Fee Rate | 0.50% | 0.50% | |||
Unfunded Commitment | $ 255,000 | $ 353,000 | |||
Fair Value | $ (6,000) | $ (11,000) | |||
Investment, Identifier [Axis]: mPulse Mobile, Inc. 3 | |||||
Variable interest rate | 5.25% | [8],[13],[17] | 5.25% | [10],[14],[18] | |
Interest Rate | 10.19% | [8],[11],[13],[17] | 9.32% | [10],[12],[14],[18] | |
Par Amount | $ 249,000 | [8],[13],[17] | $ 151,000 | [10],[14],[18] | |
Cost | 242,000 | [1],[8],[13],[17] | 143,000 | [4],[10],[14],[18] | |
Fair Value | $ 237,000 | [8],[13],[17] | $ 136,000 | [10],[14],[18] | |
Percentage of Net Assets | 0.02% | [8],[13],[17] | 0.01% | [10],[14],[18] | |
[1]The cost represents the original cost adjusted for the amortization of discounts and premiums, as applicable, on debt investments using the effective interest method.[2]Unless otherwise indicated, issuers of debt and equity investments held by the Company (where such term “Company” shall include the Company’s consolidated subsidiaries for purposes of this Consolidated Schedule of Investments) are denominated in dollars. All debt investments are income producing unless otherwise indicated. All equity investments are non-income producing unless otherwise noted. Certain portfolio company investments are subject to contractual restrictions on sales. Under the Investment Company Act of 1940, as amended (together with the rules and regulations promulgated thereunder, the “1940 Act”), the Company would be deemed to “control” a portfolio company if the Company owned more than 25% of its outstanding voting securities and/or held the power to exercise control over the management or policies of the portfolio company. As of June 30, 2023, the Company does not “control” any of these portfolio companies. Under the 1940 Act, the Company would be deemed an “affiliated person” of a portfolio company if the Company owns 5% or more of the portfolio company’s outstanding voting securities. As of June 30, 2023, the Company is not an “affiliated person” of any of its portfolio companies.[3]Unless otherwise indicated, the Company’s investments are pledged as collateral supporting the amounts outstanding under the Truist Credit Facility (as defined below). See Note 6 “Debt”.[4]The cost represents the original cost adjusted for the amortization of discounts and premiums, as applicable, on debt investments using the effective interest method.[5]Unless otherwise indicated, issuers of debt and equity investments held by the Company are denominated in dollars. All debt investments are income producing unless otherwise indicated. All equity investments are non-income producing unless otherwise noted. Certain portfolio company investments are subject to contractual restrictions on sales. Under the 1940 Act, the Company would be deemed to “control” a portfolio company if the Company owned more than 25% of its outstanding voting securities and/or held the power to exercise control over the management or policies of the portfolio company. As of December 31, 2022 the Company does not “control” any of these portfolio companies. Under the 1940 Act, the Company would be deemed an “affiliated person” of a portfolio company if the Company owns 5% or more of the portfolio company’s outstanding voting securities. As of December 31, 2022, the Company is not an “affiliated person” of any of its portfolio companies.[6]Unless otherwise indicated, the Company’s investments are pledged as collateral supporting the amounts outstanding under the Truist Credit Facility. See Note 6 “Debt”.[7]Loan includes interest rate floor of 1.00%.[8]These investments were valued using unobservable inputs and are considered Level 3 investments. Fair value was determined in good faith by or under the direction of the Company’s Valuation Designee (the “Valuation Designee”), under the supervision of the Board of Directors (the “Board of Directors” or the “Board”) (see Note 2 and Note 5), pursuant to the Company’s valuation policy.[9]Loan includes interest rate floor of 1.00%.[10]These investments were valued using unobservable inputs and are considered Level 3 investments. Fair value was determined in good faith by or under the direction of the Company’s Valuation Designee, under the supervision of the Board of Directors (see Note 2 and Note 5), pursuant to the Company’s valuation policy.[11]Variable rate loans to the portfolio companies bear interest at a rate that is determined by reference to either EURIBOR (“E”), LIBOR (“L” or “LIBOR”) or SOFR (“S”) or an alternate base rate (commonly based on the Federal Funds Rate (“F”) or the U.S. Prime Rate (“P”)), each of which generally resets periodically. For each loan, the Company has indicated the reference rate used and provided the spread and the interest rate in effect as of June 30, 2023. For investments with multiple reference rates or alternate base rates, the interest rate shown is the weighted average interest rate in effect at June 30, 2023. As of June 30, 2023, the reference rates for our LIBOR-based loans were the 3-month E at 3.58%, the 1-month L at 5.22% , the 3-month L at 5.55% , the 6-month L at 5.76%; the reference rates for our SOFR-based loans were the 1-month S at 5.14%, the 3-month S at 5.27% , the 6-month S at 5.39%; and the reference rate for our Prime rate-based loans were at 8.25% .[12]Variable rate loans to the portfolio companies bear interest at a rate that is determined by reference to either E, L or S or an alternate base rate (commonly based on F or P), each of which generally resets periodically. For each loan, the Company has indicated the reference rate used and provided the spread and the interest rate in effect as of December 31, 2022. For investments with multiple reference rates or alternate base rates, the interest rate shown is the weighted average interest rate in effect at December 31, 2022. As of December 31, 2022, the reference rates for our LIBOR-based loans were the 3-month E at 2.13%, the 1-month L at 4.39%, the 3-month L at 4.77%, the 6-month L at 5.14%; the reference rates for our SOFR-based loans were the 1-month S at 4.36%, the 3-month S at 4.59%, the 6-month S at 4.78%; and the reference rate for our Prime rate-based loans were at 7.50%.[13]Position or portion thereof is an unfunded loan commitment, and no interest is being earned on the unfunded portion, although the investment may earn unused commitment fees. Negative cost and fair value, if any, results from unamortized fees, which are capitalized to the cost of the investment. The unfunded loan commitment may be subject to a commitment termination date that may expire prior to the maturity date stated. See below for more information on the Company’s unfunded commitments as of June 30, 2023: Investments — non-controlled/non-affiliated Unused Fee Rate Commitment Type Commitment Expiration Date Unfunded Commitment Fair Value First Lien Debt 365 Retail Markets, LLC 0.50% Revolver 12/23/2026 $ 2,800 $ (11) 48Forty Solutions, LLC 0.50% Revolver 11/30/2026 2,172 (50) AMCP Pet Holdings, Inc. (Brightpet) 0.50% Revolver 10/05/2026 1,458 (23) ARI Network Services, Inc. 0.50% Revolver 02/28/2025 1,273 (21) AWP Group Holdings, Inc. 0.50% Revolver 12/22/2026 130 (8) Abacus Data Holdings, Inc. (AbacusNext) 0.50% Revolver 03/10/2027 490 — Abracon Group Holdings, LLC 1.00% Delayed Draw Term Loan 07/06/2024 706 (20) Abracon Group Holdings, LLC 0.50% Revolver 07/06/2028 401 (12) Advarra Holdings, Inc. 1.00% Delayed Draw Term Loan 08/26/2024 41 (1) Alert Media, Inc. 0.50% Revolver 04/10/2026 3,043 (86) Amerilife Holdings, LLC 1.00% Delayed Draw Term Loan 08/31/2024 292 (11) Amerilife Holdings, LLC 0.50% Revolver 08/31/2028 364 (14) Investments — non-controlled/non-affiliated Unused Fee Rate Commitment Type Commitment Expiration Date Unfunded Commitment Fair Value Answer Acquisition, LLC 0.50% Revolver 12/30/2026 $ 625 $ (16) Appfire Technologies, LLC 0.50% Delayed Draw Term Loan 06/13/2024 1,465 (32) Appfire Technologies, LLC 0.50% Revolver 03/09/2027 167 (4) Applitools, Inc. 0.50% Revolver 05/25/2028 433 (18) Assembly Intermediate, LLC 1.00% Delayed Draw Term Loan 10/19/2023 2,281 (77) Assembly Intermediate, LLC 0.50% Revolver 10/19/2027 2,074 (70) Associations, Inc. 1.00% Delayed Draw Term Loan 06/10/2024 2,541 (68) Associations, Inc. 0.50% Revolver 07/02/2027 1,860 (50) Atlas Us Finco, Inc. 0.50% Revolver 12/09/2028 186 (4) Avalara, Inc. 0.50% Revolver 10/19/2028 1,130 (8) Bottomline Technologies, Inc. 0.50% Revolver 05/15/2028 267 (5) Bridgepointe Technologies, LLC 0.50% Delayed Draw Term Loan 12/19/2023 6,864 (245) Bullhorn, Inc. 0.50% Revolver 09/30/2026 593 (4) CLEO Communications Holding, LLC 0.50% Revolver 06/09/2027 12,502 (328) Caerus US 1, Inc. 1.00% Delayed Draw Term Loan 10/31/2024 1,608 (13) Caerus US 1, Inc. 0.50% Revolver 05/25/2029 468 (4) Catalis Intermediate, Inc. 1.00% Delayed Draw Term Loan 08/04/2023 4,185 (501) Catalis Intermediate, Inc. 0.50% Revolver 08/04/2027 424 (51) Cerity Partners, LLC 1.00% Delayed Draw Term Loan 12/29/2023 5,523 (50) Citrin Cooperman Advisors, LLC 1.00% Delayed Draw Term Loan 08/01/2024 1,092 (25) Coupa Holdings, LLC 1.00% Delayed Draw Term Loan 08/27/2024 1,085 (32) Coupa Holdings, LLC 0.50% Revolver 02/27/2029 831 (24) Cyara AcquisitionCo, LLC 0.50% Revolver 06/28/2029 313 (9) DCA Investment Holdings, LLC 1.00% Delayed Draw Term Loan 12/28/2023 431 (3) Diligent Corporation 0.50% Revolver 08/04/2025 2,340 (26) Dwyer Instruments, Inc. 1.00% Delayed Draw Term Loan 07/01/2024 2,028 (53) Dwyer Instruments, Inc. 0.50% Revolver 07/21/2027 751 (20) Encore Holdings, LLC 0.75% Delayed Draw Term Loan 11/23/2024 1,268 (9) Encore Holdings, LLC 0.50% Revolver 11/23/2027 539 (4) Energy Labs Holdings Corp. 0.50% Revolver 04/07/2028 53 (1) Excelitas Technologies Corp. 0.50% Delayed Draw Term Loan 08/12/2024 170 (5) Excelitas Technologies Corp. 0.50% Revolver 08/14/2028 62 (2) FLS Holding, Inc. 0.50% Revolver 12/17/2027 1,802 (22) FMG Suite Holdings, LLC 0.50% Revolver 10/30/2026 2,336 (37) FORTIS Solutions Group, LLC 0.50% Delayed Draw Term Loan 06/24/2024 994 (14) FORTIS Solutions Group, LLC 0.50% Revolver 10/15/2027 2,339 (34) Foundation Risk Partners Corp. 0.38% Revolver 10/29/2027 4,571 (311) GS AcquisitionCo, Inc. 0.50% Revolver 05/22/2026 1,613 (12) Investments — non-controlled/non-affiliated Unused Fee Rate Commitment Type Commitment Expiration Date Unfunded Commitment Fair Value GSM Acquisition Corp. (GSM Outdoors) 0.50% Revolver 11/16/2026 $ 4,280 $ (170) Galway Borrower, LLC 1.00% Delayed Draw Term Loan 09/29/2023 298 (11) Galway Borrower, LLC 1.00% Delayed Draw Term Loan 09/30/2023 1,712 (48) Galway Borrower, LLC 0.50% Revolver 09/30/2027 2,053 (74) Gateway US Holdings, Inc. 1.00% Delayed Draw Term Loan 04/15/2024 6 — Gateway US Holdings, Inc. 0.50% Revolver 09/22/2026 30 — GraphPad Software, LLC 0.50% Revolver 04/27/2027 1,750 (31) Ground Penetrating Radar Systems, LLC 0.50% Revolver 06/26/2025 656 (11) Groundworks, LLC 1.00% Delayed Draw Term Loan 09/14/2024 193 (5) Groundworks, LLC 0.50% Revolver 03/14/2029 62 (1) Gurobi Optimization, LLC 0.50% Revolver 12/19/2023 1,607 — Heartland Home Services 0.75% Delayed Draw Term Loan 08/10/2023 524 (7) Heartland Veterinary Partners, LLC 0.50% Revolver 12/10/2026 375 (4) High Street Buyer, Inc. 0.50% Revolver 04/16/2027 2,136 (14) Integrity Marketing Acquisition, LLC 1.00% Delayed Draw Term Loan 11/23/2024 262 (2) Integrity Marketing Acquisition, LLC 1.00% Revolver 08/27/2025 53 (2) Intelerad Medical Systems Incorporated 0.50% Revolver 05/31/2028 19 — KPSKY Acquisition, Inc. 1.00% Delayed Draw Term Loan 06/17/2024 1,755 (55) KWOR Acquisition, Inc. 1.00% Delayed Draw Term Loan 06/22/2024 3,709 (122) KWOR Acquisition, Inc. 0.50% Revolver 12/22/2027 55 (2) Kaseya, Inc. 0.50% Delayed Draw Term Loan 06/24/2024 803 (19) Kaseya, Inc. 0.50% Revolver 06/25/2029 642 (15) Komline Sanderson Engineering Corp. 0.50% Delayed Draw Term Loan 05/27/2024 8,529 (291) Komline Sanderson Engineering Corp. 0.50% Revolver 03/17/2026 4,746 (162) LJ Avalon Holdings, LLC 1.00% Delayed Draw Term Loan 08/01/2024 1,688 (59) LJ Avalon Holdings, LLC 0.50% Revolver 02/01/2029 675 (24) LUV Car Wash Group, LLC 1.00% Delayed Draw Term Loan 03/14/2024 274 (3) LegitScript, LLC 1.00% Delayed Draw Term Loan 06/24/2024 6,916 (118) LegitScript, LLC 0.50% Revolver 06/24/2028 3,583 (61) Lightspeed Solution, LLC 0.50% Delayed Draw Term Loan 03/01/2024 2,194 (65) MHE Intermediate Holdings, LLC 0.50% Revolver 07/21/2027 2,150 (53) MRI Software, LLC 0.50% Revolver 02/10/2026 2,215 (17) Magnolia Wash Holdings 0.50% Revolver 07/14/2028 71 (16) Majesco 0.50% Revolver 09/21/2026 1,575 (41) Mammoth Holdings, LLC 0.50% Revolver 10/16/2024 953 (8) Mantech International CP 0.50% Delayed Draw Term Loan 09/16/2024 87 (1) Investments — non-controlled/non-affiliated Unused Fee Rate Commitment Type Commitment Expiration Date Unfunded Commitment Fair Value Mantech International CP 0.50% Revolver 09/14/2028 $ 53 $ — Montana Buyer, Inc. 0.50% Revolver 07/22/2028 466 (13) Netwrix Corporation And Concept Searching, Inc. 0.50% Delayed Draw Term Loan 06/10/2024 1,581 (51) Netwrix Corporation And Concept Searching, Inc. 0.25% Revolver 06/11/2029 323 (10) Oak Purchaser, Inc. 0.50% Delayed Draw Term Loan 04/28/2024 1,113 (38) Oak Purchaser, Inc. 0.50% Revolver 04/28/2028 372 (13) Oakbridge Insurance Agency, LLC 1.00% Delayed Draw Term Loan 03/23/2024 338 (6) Oakbridge Insurance Agency, LLC 0.50% Revolver 12/31/2026 31 (1) Omni Intermediate Holdings, LLC 1.00% Delayed Draw Term Loan 06/24/2024 138 (5) Omni Intermediate Holdings, LLC 0.50% Revolver 12/30/2025 1,065 (35) PCX Holding Corp. 0.50% Revolver 04/22/2027 1,296 (25) PDFTron Systems, Inc. 0.50% Revolver 07/15/2026 2,567 (69) Pareto Health Intermediate Holdings, Inc. 0.50% Revolver 05/31/2029 792 (16) Patriot Growth Insurance Services, LLC 0.50% Revolver 10/16/2028 4,485 (98) Peter C. Foy & Associates Insurance Services, LLC 0.50% Revolver 11/01/2027 832 (24) Pound Bidco, Inc. 0.50% Revolver 01/30/2026 1,163 (2) Procure Acquireco, Inc. (Procure Analytics) 1.00% Delayed Draw Term Loan 12/20/2023 794 (34) Procure Acquireco, Inc. (Procure Analytics) 0.50% Revolver 12/01/2026 238 (10) Project Boost Purchaser, LLC 1.00% Delayed Draw Term Loan 05/02/2024 814 (1) Project Boost Purchaser, LLC 0.38% Revolver 05/02/2028 374 (1) Promptcare Infusion Buyer, Inc. 1.00% Delayed Draw Term Loan 09/01/2023 1,901 (45) Pound Bidco, Inc. —% Delayed Draw Term Loan 12/31/2024 297 — Randy's Holdings, Inc. 1.00% Delayed Draw Term Loan 11/01/2024 2,248 (45) Randy's Holdings, Inc. 0.50% Revolver 11/01/2028 729 (15) Raptor Merger Sub Debt, LLC 0.38% Revolver 04/01/2028 1,953 (36) Recovery Point Systems, Inc. 0.50% Revolver 08/12/2026 4,000 — Revalize, Inc. 0.50% Revolver 04/15/2027 71 (2) Riskonnect Parent, LLC 0.50% Delayed Draw Term Loan 07/07/2024 558 (11) RoadOne IntermodaLogistics 1.00% Delayed Draw Term Loan 06/30/2024 295 (10) RoadOne IntermodaLogistics 0.50% Revolver 12/30/2028 310 (10) Securonix, Inc. 0.50% Revolver 04/05/2028 3,782 (146) Sherlock Buyer Corp. 1.00% Delayed Draw Term Loan 12/08/2023 3,215 (40) Sherlock Buyer Corp. 0.50% Revolver 12/08/2027 1,286 (16) Smarsh, Inc. 1.00% Delayed Draw Term Loan 02/18/2024 536 (16) Smarsh, Inc. 0.50% Revolver 02/16/2029 268 (8) Investments — non-controlled/non-affiliated Unused Fee Rate Commitment Type Commitment Expiration Date Unfunded Commitment Fair Value Spectrio, LLC 0.50% Revolver 12/09/2026 $ 730 $ (29) Spectrum Automotive Holdings Corp. 1.00% Delayed Draw Term Loan 06/29/2023 1,154 (46) Spectrum Automotive Holdings Corp. 0.50% Revolver 06/29/2027 881 (35) Spotless Brands, LLC 0.50% Revolver 07/25/2028 145 (4) Stepping Stones Healthcare Services, LLC 1.00% Delayed Draw Term Loan 12/30/2023 500 (15) Stepping Stones Healthcare Services, LLC 0.50% Revolver 12/30/2026 500 (15) Summit Acquisition, Inc. 1.00% Delayed Draw Term Loan 11/01/2024 1,638 (24) Summit Acquisition, Inc. 0.50% Revolver 05/01/2029 819 (24) Summit Buyer, LLC 0.50% Revolver 01/14/2026 2,420 (66) Superman Holdings, LLC 0.50% Delayed Draw Term Loan 05/01/2025 380 (5) Surewerx Purchaser III, Inc. 1.00% Delayed Draw Term Loan 06/28/2024 1,128 (10) Surewerx Purchaser III, Inc. 0.50% Revolver 12/28/2028 880 (8) Suveto 1.00% Delayed Draw Term Loan 09/09/2023 4,446 (143) Suveto 0.50% Revolver 09/09/2027 963 (31) Sweep Purchaser, LLC 1.00% Delayed Draw Term Loan 05/05/2024 273 (10) Sweep Purchaser, LLC 0.50% Revolver 11/30/2026 366 (14) Syntax Systems Ltd 1.00% Delayed Draw Term Loan 10/29/2023 9,356 (335) Syntax Systems Ltd 0.50% Revolver 10/29/2026 1,248 (45) Tamarack Intermediate, LLC 0.50% Revolver 03/13/2028 751 (34) Tank Holding Corp. 1.00% Delayed Draw Term Loan 05/22/2024 745 (11) Tank Holding Corp. 0.38% Revolver 03/31/2028 293 (12) Thrive Buyer, Inc. (Thrive Networks) 0.38% Revolver 01/22/2027 1,321 (45) Triple Lift, Inc. 0.25% Revolver 05/08/2028 2,467 (149) Trunk Acquisition, Inc. 0.50% Revolver 02/19/2026 857 (22) Two Six Labs, LLC 0.50% Delayed Draw Term Loan 08/20/2023 2,134 (39) Two Six Labs, LLC 0.50% Revolver 08/20/2027 2,134 (39) United Flow Technologies Intermediate Holdco II, LLC 1.00% Delayed Draw Term Loan 10/29/2023 2,798 (68) United Flow Technologies Intermediate Holdco II, LLC 0.50% Revolver 10/29/2026 3,000 (73) UpStack, Inc. 1.00% Delayed Draw Term Loan 06/30/2025 8,453 (128) UpStack, Inc. 0.50% Revolver 08/20/2027 875 (22) V Global Holdings, LLC 0.50% Revolver 12/22/2025 506 (16) VRC Companies, LLC 0.75% Delayed Draw Term Loan 01/06/2024 718 (11) VRC Companies, LLC 0.50% Revolver 06/29/2027 1,653 (25) Vessco Midco Holdings, LLC 0.50% Revolver 10/18/2026 318 (2) World Insurance Associates, LLC 0.50% Revolver 04/01/2026 1,269 (78) Zarya Intermediate, LLC 0.50% Revolver 07/01/2027 3,128 — Investments — non-controlled/non-affiliated Unused Fee Rate Commitment Type Commitment Expiration Date Unfunded Commitment Fair Value iCIMS, Inc. —% Delayed Draw Term Loan 08/18/2025 $ 117 $ (1) iCIMS, Inc. 0.50% Revolver 08/18/2028 38 — mPulse Mobile, Inc. 1.00% Delayed Draw Term Loan 12/17/2023 1,996 (48) mPulse Mobile, Inc. 0.50% Revolver 12/17/2027 255 (6) Total First Lien Debt Unfunded Commitments $ 245,557 $ (6,500) Total Unfunded Commitments $ 245,557 $ (6,500) Investments-non-controlled/non-affiliated Unused Fee Rate Commitment Type Commitment Expiration Date Unfunded Commitment Fair Value First Lien Debt 365 Retail Markets, LLC 0.50% Revolver 12/23/2026 $ 1,200 $ (27) 48Forty Solutions LLC 0.50% Revolver 11/30/2026 2,715 (139) ABB Concise Optical Group, LLC 0.50% Revolver 02/23/2028 94 (4) ARI Network Services, Inc. 0.50% Revolver 02/28/2025 2,121 (60) AWP Group Holdings, Inc. 0.50% Revolver 12/22/2026 104 (3) Abacus Data Holdings, Inc. (AbacusNext) 0.50% Revolver 03/10/2027 700 (5) Abracon Group Holdings, LLC 1.00% Delayed Draw Term Loan 07/06/2024 1,003 (52) Abracon Group Holdings, LLC 0.50% Revolver 07/06/2028 401 (21) Advarra Holdings, Inc. 1.00% Delayed Draw Term Loan 08/26/2024 41 (2) Alert Media, Inc. 0.50% Revolver 04/10/2026 1,750 (58) Amerilife Holdings, LLC 1.00% Delayed Draw Term Loan 08/31/2024 292 (5) Amerilife Holdings, LLC 0.50% Revolver 08/31/2028 437 (8) Answer Acquisition, LLC 0.50% Revolver 12/30/2026 833 (35) Investments-non-controlled/non-affiliated Unused Fee Rate Commitment Type Commitment Expiration Date Unfunded Commitment Fair Value Appfire Technologies, LLC 0.50% Delayed Draw Term Loan 06/13/2024 $ 1,674 $ (63) Appfire Technologies, LLC 0.50% Revolver 03/09/2027 157 (6) Applitools, Inc. 0.50% Revolver 05/25/2028 433 (7) Assembly Intermediate, LLC 1.00% Delayed Draw Term Loan 10/19/2023 2,281 (88) Assembly Intermediate, LLC 0.50% Revolver 10/19/2027 1,244 (48) Associations, Inc. 1.00% Delayed Draw Term Loan 06/10/2024 6,694 (304) Associations, Inc. 0.50% Revolver 07/02/2027 1,860 (84) Atlas Us Finco, Inc. 0.50% Revolver 12/09/2028 186 (6) Avalara, Inc. 0.50% Revolver 10/19/2028 1,071 (26) Bottomline Technologies, Inc. 0.50% Revolver 05/15/2028 267 (10) Bridgepointe Technologies, LLC 0.50% Delayed Draw Term Loan 09/23/2024 10,116 (403) Bullhorn, Inc. 0.50% Revolver 09/30/2026 320 (10) CLEO Communications Holding, LLC 0.50% Revolver 06/09/2027 12,502 (445) Caerus US 1, Inc. —% Delayed Draw Term Loan 10/31/2024 1,608 (16) Caerus US 1, Inc. 0.50% Revolver 05/25/2029 878 (17) Cerity Partners, LLC 1.00% Delayed Draw Term Loan 12/30/2023 12,699 (381) DCA Investment Holdings, LLC 1.00% Delayed Draw Term Loan 03/02/2023 1,026 (15) Diligent Corporation 0.50% Revolver 08/04/2025 3,150 (69) Donuts, Inc. 0.25% Delayed Draw Term Loan 08/14/2023 3,166 (80) Dwyer Instruments, Inc. 1.00% Delayed Draw Term Loan 07/01/2024 2,028 (92) Dwyer Instruments, Inc. 0.50% Revolver 07/21/2027 855 (39) Encore Holdings, LLC 0.75% Delayed Draw Term Loan 11/23/2024 1,469 (35) Encore Holdings, LLC 0.50% Revolver 11/23/2027 539 (13) Energy Labs Holdings Corp. 1.00% Delayed Draw Term Loan 04/13/2023 47 (1) Energy Labs Holdings Corp. 0.50% Revolver 04/07/2028 45 (1) Excelitas Technologies Corp. 0.50% Delayed Draw Term Loan 08/11/2024 262 (13) Excelitas Technologies Corp. 0.50% Revolver 08/14/2028 57 (3) FLS Holding, Inc. 0.50% Revolver 12/17/2027 1,802 (29) FMG Suite Holdings, LLC 0.50% Revolver 10/30/2026 2,074 (44) Fortis Solutions Group, LLC 0.50% Delayed Draw Term Loan 10/15/2023 76 (2) Fortis Solutions Group, LLC 0.50% Delayed Draw Term Loan 06/24/2024 1,000 (33) Fortis Solutions Group, LLC 0.50% Revolver 10/15/2027 2,339 (76) Foundation Risk Partners Corp. 0.38% Revolver 10/29/2027 2,689 (47) GS AcquisitionCo, Inc. 0.50% Revolver 05/22/2026 2,420 (58) GSM Acquisition Corp. 0.50% Revolver 11/16/2026 4,280 (62) Galway Borrower, LLC 0.50% Delayed Draw Term Loan 09/30/2023 298 (12) Galway Borrower, LLC 0.50% Revolver 09/30/2027 2,053 (88) Gateway US Holdings, Inc. 1.00% Delayed Draw Term Loan 03/09/2024 6 — Investments-non-controlled/non-affiliated Unused Fee Rate Commitment Type Commitment Expiration Date Unfunded Commitment Fair Value Gateway US Holdings, Inc. 0.50% Revolver 09/22/2026 $ 14 $ — Govbrands Intermediate, Inc. 1.00% Delayed Draw Term Loan 08/04/2023 4,185 (191) Govbrands Intermediate, Inc. 0.50% Revolver 08/04/2027 424 (19) GraphPad Software, LLC 0.50% Revolver 04/27/2027 1,750 (58) Ground Penetrating Radar Systems, LLC 0.50% Revolver 06/26/2025 1,181 (30) Gurobi Optimization, LLC 0.50% Revolver 12/19/2023 1,607 — Heartland Home Services, Inc. 0.75% Delayed Draw Term Loan 08/10/2023 612 (18) Heartland Veterinary Partners, LLC 1.00% Delayed Draw Term Loan 11/17/2023 1,255 (36) Heartland Veterinary Partners, LLC 0.50% Revolver 12/10/2026 375 (11) High Street Buyer, Inc. 0.50% Revolver 04/16/2027 2,136 (62) KPSKY Acquisition, Inc. 1.00% Delayed Draw Term Loan 06/17/2024 3,413 (154) KWOR Acquisition, Inc. 1.00% Delayed Draw Term Loan 06/22/2024 4,777 (248) KWOR Acquisition, Inc. 0.50% Revolver 12/22/2027 122 (6) Kaseya, Inc. 0.50% Delayed Draw Term Loan 06/22/2024 856 (37) Kaseya, Inc. 0.50% Revolver 06/25/2029 856 (37) Komline Sanderson Engineering Corp. 0.50% Delayed Draw Term Loan 05/27/2024 8,529 (507) Komline Sanderson Engineering Corp. 0.50% Revolver 03/17/2026 2,057 (122) LUV Car Wash Group, LLC 1.00% Delayed Draw Term Loan 03/14/2024 257 (5) LegitScript 1.00% Delayed Draw Term Loan 06/24/2024 7,654 (68) LegitScript 0.50% Revolver 06/24/2028 3,917 (72) Lightspeed Buyer, Inc. 1.00% Delayed Draw Term Loan 02/28/2023 4,050 (118) Lightspeed Solution, LLC 0.50% Delayed Draw Term Loan 03/01/2024 2,439 (89) MHE Intermediate Holdings, LLC 0.50% Revolver 07/21/2027 2,150 (64) MRI Software, LLC 0.50% Revolver 02/10/2026 2,215 (45) Magnolia Wash Holdings 0.50% Revolver 07/14/2028 71 (3) Majesco 0.50% Revolver 09/21/2026 1,575 (66) Mammoth Holdings, LLC 0.50% Revolver 10/16/2023 953 — Mantech International CP 0.50% Delayed Draw Term Loan 09/14/2024 87 (2) Mantech International CP 0.50% Revolver 09/14/2028 53 (1) Montana Buyer, Inc. 0.50% Revolver 07/22/2028 466 (16) Netwrix Corporation And Concept Searching, Inc. 0.50% Delayed Draw Term Loan 06/09/2024 1,652 (89) Netwrix Corporation And Concept Searching, Inc. 0.50% Revolver 06/11/2029 431 (23) Oak Purchaser, Inc. 0.50% Delayed Draw Term Loan 04/28/2024 1,236 (18) Oak Purchaser, Inc. 0.50% Revolver 04/28/2028 372 (5) Oakbridge Insurance Agency, LLC 1.00% Delayed Draw Term Loan 03/31/2024 399 (3) Oakbridge Insurance Agency, LLC 0.50% Revolver 12/31/2026 36 — Omni Intermediate Holdings, LLC 1.00% Delayed Draw Term Loan 06/24/2024 732 (31) Omni Intermediate Holdings, LLC 1.00% Delayed Draw Term Loan 06/24/2024 173 (7) Investments-non-controlled/non-affiliated Unused Fee Rate Commitment Type Commitment Expiration Date Unfunded Commitment Fair Value Omni Intermediate Holdings, LLC 0.50% Revolver 12/30/2025 $ 1,065 $ (45) PCX Holding Corp. 0.50% Revolver 04/22/2027 1,296 (42) PDFTron Systems, Inc. 0.50% Revolver 07/15/2026 3,850 (128) Patriot Growth Insurance Services, LLC 0.50% Revolver 10/16/2028 4,485 (207) Peter C. Foy & Associates Insurance Services, LLC 1.00% Delayed Draw Term Loan 12/14/2023 292 (14) Peter C. Foy & Associates Insurance Services, LLC 0.50% Revolver 11/01/2027 832 (40) Pound Bidco, Inc. 0.50% Revolver 01/30/2026 1,163 (5) Pritchard Industries, LLC 1.00% Delayed Draw Term Loan 10/13/2023 691 (38) Procure Acquireco, Inc. (Procure Analytics) 1.00% Delayed Draw Term Loan 12/20/2023 794 (35) Procure Acquireco, Inc. (Procure Analytics) 0.50% Revolver 12/20/2028 238 (11) Project Boost Purchaser, LLC 1.00% Delayed Draw Term Loan 05/02/2024 1,038 (10) Project Boost Purchaser, LLC 0.50% Revolver 05/02/2028 449 (4) Promptcare Infusion Buyer, Inc. 1.00% Delayed Draw Term Loan 09/01/2023 2,431 (85) QW Holding Corporation 1.00% Delayed Draw Term Loan 05/02/2024 394 (15) QW Holding Corporation 0.50% Revolver 08/31/2026 2,250 (84) Randy's Holdings, Inc. 1.00% Delayed Draw Term Loan 11/01/2024 2,248 (31) Randy's Holdings, Inc. 0.50% Revolver 10/31/2027 757 (22) Radwell Parent, LLC 0.38% Revolver 04/01/2028 2,442 (71) Recovery Point Systems, Inc. 0.50% Revolver 08/12/2026 4,000 (5) Redwood Services Group, LLC 1.00% Delayed Draw Term Loan 12/22/2023 729 (32) Revalize, Inc. 0.50% Revolver 04/15/2027 71 (3) Riskonnect Parent, LLC 0.50% Delayed Draw Term Loan 07/07/2024 558 (21) RoadOne IntermodaLogistics 1.00% Delayed Draw Term Loan 06/30/2024 426 (6) RoadOne IntermodaLogistics 0.50% Revolver 12/30/2028 255 (8) Securonix, Inc. 0.50% Revolver 04/05/2028 3,782 (137) Sherlock Buyer Corp. 1.00% Delayed Draw Term Loan 02/08/2023 3,215 (71) Sherlock Buyer Corp. 0.50% Revolver 12/08/2027 1,286 (28) Skykick, Inc. 1.00% Delayed Draw Term Loan 03/01/2023 1,155 (29) Smarsh, Inc. 1.00% Delayed Draw Term Loan 02/18/2024 536 (20) Smarsh, Inc. 0.50% Revolver 02/16/2029 268 (10) MSM Acquisitions, Inc. 1.00% Delayed Draw Term Loan 01/30/2023 23,439 (560) MSM Acquisitions, Inc. 0.50% Revolver 12/09/2026 2,112 (51) Spectrum Automotive Holdings Corp. 1.00% Delayed Draw Term Loan 06/29/2023 1,917 (112) Spectrum Automotive Holdings Corp. 0.50% Revolver 06/29/2027 881 (51) Spotless Brands, LLC 0.50% Revolver 07/25/2028 145 (6) Stepping Stones Healthcare Services, LLC 1.00% Delayed Draw Term Loan 01/14/2024 737 (39) Stepping Stones Healthcare Services, LLC 0.50% Revolver 12/30/2026 175 (9) Summit Buyer, LLC 1.00% Delayed Draw Term Loan 06/23/2023 3,304 (146) Investments-non-controlled/non-affiliated Unused Fee Rate Commitment Type Commitment Expiration Date Unfunded Commitment Fair Value Summit Buyer, LLC 0.50% Revolver 01/14/2026 $ 2,420 $ (107) Surewerx Purchaser III, Inc. 0.50% Revolver 12/28/2028 1,681 (50) Surewerx Purchaser III, Inc. 1.00% Delayed Draw Term Loan 06/27/2024 3,601 (72) Suveto 1.00% Delayed Draw Term Loan 09/09/2023 5,081 (182) Suveto 0.50% Revolver 09/09/2027 486 (18) Sweep Purchaser, LLC 1.00% Delayed Draw Term Loan 05/05/2024 273 (15) Sweep Purchaser, LLC 0.50% Revolver 11/30/2026 1,153 (62) Syntax Systems Ltd 1.00% Delayed Draw Term Loan 10/29/2023 9,356 (510) Syntax Systems Ltd 0.50% Revolver 10/29/2026 1,247 (68) Tamarack Intermediate, LLC 0.50% Revolver 03/13/2028 808 (36) Tank Holding Corp. 0.38% Revolver 03/31/2028 667 (37) Thrive Buyer, Inc. (Thrive Networks) 0.50% Revolver 01/22/2027 1,717 (42) Triple Lift, Inc. 0.25% Revolver 05/08/2028 2,467 (127) Trunk Acquisition, Inc. 0.50% Revolver 02/19/2026 857 (39) Two Six Labs, LLC 1.00% Delayed Draw Term Loan 08/20/2023 2,134 (52) Two Six Labs, LLC 0.50% Revolver 08/20/2027 2,134 (52) United Flow Technologies Intermediate Holdco II, LLC 1.00% Delayed Draw Term Loan 10/29/2023 164 (5) United Flow Technologies Intermediate Holdco II, LLC 1.00% Delayed Draw Term Loan 10/29/2023 10,000 (303) United Flow Technologies Intermediate Holdco II, LLC 0.50% Revolver 10/29/2026 3,000 (91) UpStack, Inc. 1.00% Delayed Draw Term Loan 08/26/2023 1,050 (32) UpStack, Inc. 0.50% Revolver 08/20/2027 875 (26) V Global Holdings, LLC 0.50% Revolver 12/22/2025 672 (34) VRC Companies, LLC 0.75% Delayed Draw Term Loan 01/06/2024 6,059 (212) VRC Companies, LLC 0.50% Revolver 06/29/2027 1,653 (58) Valcourt Holdings II, LLC 1.00% Delayed Draw Term Loan 01/07/2023 1,121 (13) Vardiman Black Holdings, LLC 1.25% Delayed Draw Term Loan 03/18/2024 142 (8) Vessco Midco Holdings, LLC 0.50% Revolver 10/18/2026 268 (4) World Insurance Associates, LLC 0.50% Revolver 04/01/2026 444 (14) Zarya Intermediate, LLC 0.50% Revolver 07/01/2027 3,649 (7) mPulse Mobile, Inc. 1.00% Delayed Draw Term Loan 02/17/2023 1,996 (60) mPulse Mobile, Inc. 0.50% Revolver 12/17/2027 353 (11) Total First Lien Debt Unfunded Commitments $ 305,663 $ (9,984) Second Lien Debt Heartland Veterinary Partners, LLC 0.50% Delayed Draw Term Loan 11/17/2023 $ 88 $ (7) Infinite Bidco, LLC 1.00% Delayed Draw Term Loan 03/14/2023 8,500 (269) Total Second Lien Debt Unfunded Commitments $ 8,588 $ (276) Total Unfunded Commitments $ 314,251 $ (10,260) |
Organization
Organization | 6 Months Ended |
Jun. 30, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization | Organization Morgan Stanley Direct Lending Fund (the “Company”) is a non-diversified, externally managed specialty finance company focused on lending to middle-market companies. The Company has elected to be regulated as a business development company (“BDC”) under the Investment Company Act of 1940, as amended (the “1940 Act”). In addition, for U.S. federal income tax purposes, the Company has elected to be treated, and intends to comply with the requirements 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 not a subsidiary of or consolidated with Morgan Stanley. The Company was formed as a Delaware limited liability company on May 30, 2019 and, effective November 25, 2019, converted to a Delaware corporation. The Company commenced investment operations in January 2020. The Company has delegated the right to manage the assets of the Company to MS Capital Partners Adviser Inc., as the investment adviser to the Company (the “Adviser” or “Investment Adviser”). The Investment Adviser is an indirect, wholly owned subsidiary of Morgan Stanley. The Company’s investment objective is to achieve attractive risk-adjusted returns via current income and, to a lesser extent, capital appreciation by investing primarily in directly originated senior secured term loans issued by U.S. middle-market companies backed by private equity sponsors. The Company has conducted and from time to time may conduct private offerings of its common stock, par value $0.001 per share (the “Common Stock”), to investors in reliance on exemptions from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). At the closing of any private offering, each investor makes a capital commitment (a “Capital Commitment”) to purchase shares of Common Stock pursuant to a subscription agreement entered into with the Company. Investors are required to fund drawdowns to purchase shares of Common Stock up to the amount of their respective Capital Commitments each time the Company delivers a notice to the investors. In accordance with the terms of the subscription agreements (the “Subscription Agreements”) entered into by investors in the Company, the Company’s Board of Directors (the “Board of Directors”) approved a one-year extension of the Investment Period (as defined in the Subscription Agreements) such that the Investment Period will expire on December 23, 2023. The Company has formed wholly owned subsidiaries for the purpose of holding certain investments in portfolio companies made by the Company. As of June 30, 2023, the Company’s wholly owned subsidiaries were formed as Delaware limited liability companies and included: DLF CA SPV LLC (“CA SPV”), DLF SPV LLC (“DLF SPV”), DLF Financing SPV LLC (“DLF LLC”) and DLF Equity Holdings LLC (“DLF Equity Holdings,” and collectively with CA SPV, DLF SPV and DLF LLC, the “subsidiaries”). The Company consolidates its wholly owned subsidiaries in these consolidated financial statements from the date of the respective subsidiary’s formation. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2023 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). As an investment company, the Company applies the accounting and reporting guidance in Accounting Standards Codification (“ASC”) Topic 946, Financial Services – Investment Companies (“ASC 946”) issued by the Financial Accounting Standards Board (“FASB”). The interim consolidated financial statements have been prepared in accordance with U.S. GAAP for interim financial information and pursuant to the requirements for reporting on Form 10-Q and Articles 6 and 10 of Regulation S-X. Accordingly, certain disclosures accompanying the annual consolidated financial statements prepared in accordance with U.S. GAAP are omitted. In the opinion of management, all adjustments and reclassifications, consisting solely of normal recurring accruals considered necessary for the fair presentation of consolidated financial statements for the interim period presented, have been included. The current period’s results of operations will not necessarily be indicative of results that the Company may ultimately achieve for the year ending December 31, 2023. The Company reclassified certain industry groupings of its portfolio companies presented in the accompanying consolidated financial statements as of December 31, 2022 to align with the recently updated Global Industry Classification Standards (“GICS”), where applicable. These reclassifications had no impact on the Consolidated Statement of Assets and Liabilities as of December 31, 2022. 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, liabilities and expenses and disclosure of contingent assets and liabilities at the date of the consolidated financial statements. Such amounts could differ from those estimates and such differences could be material. Management’s estimates are based on historical experiences and other factors, including expectations of future events that management believes to be reasonable under the circumstances. Assumptions and estimates regarding the valuation of investments involve a higher degree of judgment and complexity and these assumptions and estimates may be significant to the consolidated financial statements. Consolidation As provided under ASC 946, the Company will not consolidate its investment in a 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 the consolidated financial statements. All intercompany balances and transactions have been eliminated in consolidation. Cash Cash is carried at cost, which approximates fair value. The Company deposits its cash with multiple financial institutions and, at times, may exceed the Federal Deposit Insurance Corporation insured limit. Foreign Currency Translation The functional currency of the Company is the U.S. Dollar. Investments denominated in foreign currencies are translated into U.S. Dollars based upon currency exchange rates effective on the last business day of the current reporting period. Net changes in fair value of investments due to foreign exchange rates fluctuation is recorded as change in unrealized appreciation (depreciation) from translation of assets and liabilities in foreign currencies on the Consolidated Statements of Operations. Investment and non-investment activities denominated in foreign currencies, including purchase and sales of investments, borrowings and repayments of debt, income and expenses, are translated into U.S. dollars based upon currency exchange rates prevailing on the transaction dates. Investments Investment transactions are recorded on the trade date. Receivables/payables from investments sold/purchased on the Consolidated Statements of Assets and Liabilities consist of amounts receivable to or payable by the Company for transactions that have not settled at the reporting date. Realized gains or losses are measured by the difference between the net proceeds received (excluding prepayment fees, if any) and the amortized cost basis of the investment using the specific identification method without regard to unrealized gains or losses previously recognized, and include investments charged off during the period, net of recoveries. The net change in unrealized gains or losses primarily reflects the change in investment values, including the reversal of previously recorded unrealized gains or losses with respect to investments realized during the period. The Board of Directors, with the assistance of the Company’s audit committee (the “Audit Committee”), determines the fair value of the Company’s investments in accordance with ASC Topic 820, Fair Value Measurements (“ASC 820”) issued by the FASB. The Board of Directors has delegated to the Investment Adviser as the Valuation Designee the responsibility of determining the fair value of the Company’s investment portfolio, subject to oversight of the Board of Directors, pursuant to Rule 2a-5 under the 1940 Act. As such, the Valuation Designee is charged with determining the fair value of the Company’s investment portfolio, subject to oversight of the Board of Directors. ASC 820 defines fair value as “the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.” Fair value is a market-based measurement, not an entity-specific measurement. For some investments, observable market transactions or market information might be available. For other investments, observable market transactions and market information might not be available. However, the objective of a fair value measurement in both cases is the same - to estimate the price when an orderly transaction to sell the investment would take place between market participants at the measurement date under current market conditions (that is, an exit price at the measurement date from the perspective of a market participant). Refer to Note 5 for the Company’s framework for determining fair value, fair value hierarchies, and the composition of the Company’s portfolio. Revenue Recognition Interest Income Interest income is recorded on an accrual basis and includes the accretion of discounts and amortizations 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 investment using the effective interest method. The amortized cost of debt investments represents the original cost, including loan 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. Upon prepayment of a loan or debt investment, any prepayment premiums, unamortized upfront loan origination fees and unamortized discounts are recorded as interest income in the current period. PIK Income The Company has debt investments in its portfolio that contain payment-in-kind (“PIK”) provisions. PIK represents interest that is accrued and recorded as interest income at the contractual rates, increases the loan principal on the respective capitalization dates, and is generally due at maturity. Such income is included in PIK income on the Consolidated Statements of Operations. If at any point the Company believes PIK is not expected to be realized, the investment generating PIK will be placed on non-accrual status. When a PIK investment is placed on non-accrual status, the accrued, uncapitalized interest is generally reversed through PIK income. This non-cash source of income is included when determining what must be paid out to stockholders in the form of distributions in order for the Company to maintain its status as a RIC, even though the Company has not yet collected cash. Dividend income Dividend income on preferred equity investments is recorded on an 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 investments is recorded on the record date for private portfolio companies. Dividend income is presented net of withholding tax, if any. Other Income The Company may receive various fees in the ordinary course of business such as structuring, consent, waiver, amendment and syndication fees as well as fees for managerial assistance rendered by the Company to the portfolio companies. Such fees are recognized in income when earned or when the services are rendered and there is no uncertainty or contingency related to the amount to be received. Non-Accrual Income Loans are generally placed on non-accrual status when there is reasonable doubt that principal or interest will be collected in full. Accrued interest is generally reversed when a loan is placed on non-accrual status. Additionally, any original issue discount and market discount are no longer accreted to interest income as of the date the loan is placed on non-accrual status. Interest payments received on non-accrual loans may be recognized as income or applied to principal depending upon management’s judgment regarding collectability. Non-accrual loans are restored to accrual status when past due principal and interest are paid current and, in management’s judgment, are likely to remain current. Management may determine to not place a loan on non-accrual status if the loan has sufficient collateral value and is in the process of collection. Organization and Offering Costs Costs associated with the organization of the Company are expensed as incurred, subject to the limitations discussed in Note 3. These costs consist primarily of legal fees and other costs of organizing the Company. Costs associated with the offering of Common Stock are capitalized as “deferred offering costs” on the Consolidated Statements of Assets and Liabilities and amortized over a twelve-month period from the initial capital call, subject to the limitation described in Note 3 below. These costs consist primarily of legal fees and other costs incurred in connection with the Company’s continuous private offerings of its Common Stock. Expenses The Company is responsible for investment expenses, professional fees and other general and administrative expenses related to the Company’s operations. Such fees and expenses, including expenses incurred by the Adviser on behalf of the Company, is reimbursed by the Company. The Company pays the Investment Adviser a base management fee and an incentive fee under the Investment Advisory Agreement between the Company and the Investment Adviser (the “Investment Advisory Agreement”) as described in Note 3 below. The fees are recorded on the Consolidated Statements of Operations. Deferred Financing Costs and Debt Issuance Costs The Company records upfront fees, legal and other direct costs incurred in connection with the Company’s issuance of revolving debt facilities (the “Deferred Financing Costs”). These costs are deferred and amortized over the life of the related revolving credit facilities using the straight-line method. Deferred Financing Costs related to revolving credit facilities are presented separately as an asset on the Company’s Consolidated Statements of Assets and Liabilities. The amortization of such Deferred Financing Costs are presented on the Consolidated Statements of Operations as interest expense and other financing expenses. The Company records costs related to the issuance of term debt obligations (the “Debt Issuance Costs”) on the consolidated financial statements. The costs, including upfront fees, legal and other direct costs incurred in connection with the issuance are deferred and amortized over the life of the related term obligation using the straight-line method. The amortization of Debt Issuance Costs are presented on the Consolidated Statements of Operations as interest expense and other financing expenses. Any unamortized Debt Issuance Costs are presented as a reduction to the outstanding term debt principal amount on the Consolidated Statements of Assets and Liabilities. Income Taxes The Company has elected to be treated as a RIC under Subchapter M of the Code. So long as the Company maintains its status as a RIC, it generally will not pay corporate U.S. federal income taxes on any ordinary income or capital gains that it distributes, at least annually, to its stockholders as distributions. In order to qualify as a RIC, the Company must meet certain minimum distribution, source-of-income and asset diversification requirements. If such requirements are met, then the Company is generally required to pay income taxes only on the portion of its taxable income and gains it does not distribute. The minimum distribution requirements applicable to RICs require the Company to distribute to its stockholders at least 90% of its investment company taxable income (the “ICTI”), as defined by the Code, each year. Depending on the level of ICTI earned in a tax year, the Company may choose to carry forward ICTI in excess of current year distributions into the next tax year. Any such carryover ICTI must be distributed before the end of that next tax year through a distribution declared prior to filing the final tax return related to the year which generated such ICTI. In addition, based on the excise distribution requirements, the Company is subject to a 4% nondeductible federal excise tax on undistributed income unless the Company distributes in a timely manner an amount at least equal to the sum of (1) 98% of its ordinary income for each calendar year, (2) 98.2% of capital gain net income (both long-term and short-term) for the one-year period ending October 31 in that calendar year and (3) any income realized, but not distributed, in the preceding year. For this purpose, however, any ordinary income or capital gain net income retained by the Company that is subject to corporate income tax is considered to have been distributed. The Company currently intends to make sufficient distributions each taxable year to satisfy the excise distribution requirements. 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. All penalties and interest associated with income taxes, if any, are included in income tax expense. For the three and six months ended June 30, 2023 and June 30, 2022, the Company did not accrue any U.S. federal excise tax. New Accounting Standards The Company considers the applicability and impact of all accounting standard updates (“ASU”) issued by the FASB. The Company has assessed currently issued ASUs and has determined that they are not applicable or expected to have minimal impact on its consolidated financial statements. |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Jun. 30, 2023 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Related Party Transactions Investment Advisory Agreement On November 25, 2019, the Company entered into the Investment Advisory Agreement. The Investment Advisory Agreement had an initial term of two years and continues thereafter from year to year if approved annually by the Board of Directors or the Company’s stockholders, including, in each case, a majority of the directors who are not “interested persons” as defined in Section 2(a)(19) of the 1940 Act (the “Independent Directors”). The renewal of the Investment Advisory Agreement was most recently approved in August 2023. The Company pays the Investment Adviser a fee for its services under the Investment Advisory Agreement consisting of two components: a base management fee (the “Base Management Fee”) and an incentive fee. The cost of both the Base Management Fee and the incentive fee are ultimately be borne by the stockholders. Base Management Fee The Base Management Fee is calculated at an annual rate of 1.0% of the Company’s average gross assets at the end of the two most recently completed calendar quarters, including assets purchased with borrowed funds or other forms of leverage but excluding cash and cash equivalents. Prior to a listing of the Common Stock on a national securities exchange, the Adviser has agreed to irrevocably waive the portion of the Base Management Fee in excess of 0.25% of the Company’s average gross assets calculated in accordance with the Investment Advisory Agreement. Any Base Management Fees so waived are not subject to recoupment by the Investment Adviser. The Base Management Fee is payable quarterly in arrears, and no management fee is charged on committed but undrawn Capital Commitments. For the three and six months ended June 30, 2023, Base Management Fees were $1,862, and $3,688 net of waiver, respectively. For the three and six months ended June 30, 2022, Base Management Fees were $1,634, and $3,179 net of waiver, respectively. As of June 30, 2023 and December 31, 2022, $1,862 and $1,783 were payable to the Investment Adviser relating to Base Management Fees. Incentive Fee The incentive fee consists of two components that are determined independently of each other, with the result that one component may be payable even if the other is not. One component is based on income and the other component is based on capital gains. Pre-incentive fee net investment income is defined as interest income, dividend income and any other income accrued during the calendar quarter, minus operating expenses for the quarter, including the base management fee, expenses payable under the Administration Agreement (as defined below), any interest expense and distributions paid on any issued and outstanding preferred stock, but excluding the incentive fee. Pre-incentive fee net investment income does not include any realized capital gains, realized capital losses or unrealized capital appreciation or depreciation. Pre-incentive fee net investment income includes, in the case of investments with a deferred interest feature (such as debt instruments with PIK interest and zero coupon securities), accrued income that the Company has not yet received in cash. The Investment Adviser is not obligated to return any incentive fee it receives on PIK interest that is later determined to be uncollectible in cash. Pre-incentive fee net investment income does not include any realized capital gains, realized capital losses or unrealized capital appreciation or depreciation. Pursuant to the Investment Advisory Agreement, the Company pays its Adviser an income based incentive fee with respect to the Company’s pre-incentive fee net investment income in each calendar quarter as follows: • No income based incentive fee if the Company’s pre-incentive fee net investment income, expressed as a return on the value of the Company’s net assets at the end of the immediately preceding calendar quarter, does not exceed the hurdle rate of 1.5% (6.0% annualized); • 100% of the Company’s pre-incentive fee net investment income, if any, that exceeds the hurdle rate but is less than 1.8182% (7.2728% annualized). This portion of the pre-incentive fee net investment income (which exceeds the Hurdle Rate but is less than 1.8182%) is referred to as the “catch-up”. This “catch-up” portion is meant to provide the Adviser with approximately 17.5% of the Company’s pre-incentive fee net investment income as if a hurdle rate did not apply if the “catch up” is achieved; and • 17.5% of the Company’s pre-incentive fee net investment income, if any, that exceeds the rate of return of 1.8182% (7.2728% annualized). The second part of the incentive fee is determined on realized capital gains calculated and payable in arrears in cash as of the end of each calendar year or upon the termination of the Investment Advisory Agreement in an amount equal to 17.5% of the realized capital gains, if any, on a cumulative basis from the date of the Company's election to be regulated as a BDC through the end of a given calendar year or upon the termination of the Investment Advisory Agreement, computed net of all realized capital losses and unrealized capital depreciation on a cumulative basis, less the aggregate amount of any previously paid capital gain incentive fees (the “Cumulative Capital Gains”). Under U.S. GAAP, the Company is required to accrue an incentive fee on capital gains, including unrealized capital appreciation even though such unrealized capital appreciation is not included in calculating the incentive fee payable under the Investment Advisory Agreement. If such amount is positive at the end of a period, then the Company records an incentive fee on capital gain incentive fee equal to 17.5% of such amount, less the aggregate amount of any previously paid capital gain incentive fees. If such amount is negative, no accrual is recorded for such period. For the three and six months ended June 30, 2023, $10,138 and $19,519 respectively, of income based incentive fees were accrued to the Investment Adviser. For the three and six months ended June 30, 2022, $5,879 and $11,345 respectively, of income based incentive fees were accrued to the Investment Adviser. For the three and six months ended June 30, 2023, there were no capital gains incentive fees accrued to the Investment Adviser. For the three and six months ended June 30, 2022, there was a reversal of $1,694 and $2,441 of previously accrued capital gains incentive fees as there was net unrealized depreciation on investments during the period. The Investment Advisory Agreement does not permit unrealized capital appreciation for purposes of calculating the amount payable to the Investment Adviser. Amounts due related to unrealized capital appreciation, if any, will not be paid to the Investment Adviser until realized under the terms of the Investment Advisory Agreement and determined based on the calculation. Incentive fees on Cumulative Capital Gains crystallize at calendar year-end. As of June 30, 2023, $10,138 and $0 were payable to the Investment Adviser relating to income-based incentive fees and capital gains incentive fees payable. As of December 31, 2022, $8,118 and $0 were payable to the Investment Adviser relating to income-based incentive fees and capital gains incentive fees, respectively. Administration Agreement MS Private Credit Administrative Services LLC (the “Administrator”) is the administrator of the Company pursuant to an administration agreement (the “Administration Agreement”). The Administrator is an indirect, wholly owned subsidiary of Morgan Stanley. Pursuant to the Administration Agreement, the Administrator provides services and receives reimbursements from the Company for its costs and expenses and the Company’s allocable portion of overhead costs incurred by the Administrator in performing its obligations under the Administration Agreement, including the Company’s allocable portion of the compensation paid to its Chief Financial Officer and Chief Compliance Officer. Reimbursement under the Administration Agreement occurs quarterly in arrears. The Administration Agreement had an initial term of two years and continues thereafter from year to year if approved annually by the Board of Directors, which most recently approved the renewal of the Administration Agreement in August 2023. For the three and six months ended June 30, 2023, the Company incurred $60 and $114, respectively, in expenses under the Administration Agreement, which were recorded in administrative service fees on the Consolidated Statements of Operations. For the three and six months ended June 30, 2022, the Company incurred $54 and $70, respectively, in expenses under the Administration Agreement, which were recorded in administrative service fees on the Consolidated Statements of Operations. Amounts unpaid and included in payable to affiliates on the Consolidated Statements of Assets and Liabilities as of June 30, 2023 and December 31, 2022 were $224 and $110, respectively. Expense Support and Waiver Agreement On December 31, 2019, the Company entered into an expense support and waiver agreement (the “Expense Support and Waiver Agreement”) with the Investment Adviser. Under the terms of the Expense Support and Waiver Agreement, the Investment Adviser agreed to waive any reimbursement by the Company of offering and organizational expenses incurred by the Investment Adviser on behalf of the Company in excess of $1,000 or 0.10% of the aggregate Capital Commitments of the Company, whichever is greater. If actual organization and offering costs incurred exceed the greater of $1,000 or 0.10% of the Company’s total Capital Commitments, the Investment Adviser or its affiliate will bear the excess costs. For the three and six months ended June 30, 2023, the Company did not incur any organization costs, offering costs or expense support. For the three and six months ended June 30, 2022, the Company did not incur any organization costs. For the three and six months ended June 30, 2022, the Investment Adviser recaptured $0 and $39 of previously waived amounts from the Company. As of June 30, 2023 and December 31, 2022, the Company had reimbursed the Investment Adviser all organization and offering costs incurred and there were no organization and offering costs payable on the Consolidated Statements of Assets and Liabilities. License Agreement The Company entered into the license agreement (the “ License Agreement ” ) with Morgan Stanley under which Morgan Stanley Investment Management, Inc. has granted the Company a non-exclusive, royalty-free license to use the name “Morgan Stanley” for specified purposes in the Company’s business. Under the License Agreement, the Company has a right to use the “Morgan Stanley” name, subject to certain conditions, for so long as the Adviser or one of its affiliates remains the Company’s investment adviser. Other than with respect to this limited license, the Company has no legal right to the “Morgan Stanley” name. Placement Agent Agreement On August 30, 2019, the Company entered into a placement agent agreement (the “Placement Agent Agreement”) with Morgan Stanley Distribution Inc. (the “Paying Agent”), Morgan Stanley Smith Barney LLC (the “Placement Agent”) and the Investment Adviser. Under the terms of the Placement Agent Agreement, the Placement Agent and certain of its affiliates assist in the placement of Common Stock in the Company’s private offerings. The Company is not liable for any payments to the Placement Agent pursuant to the Placement Agent Agreement. Payments are made by the Investment Adviser to the Placement Agent. To the extent the Paying Agent receives any payments it remits the payment to the Placement Agent. Indemnification Agreements The Company has entered into indemnification agreements with its directors and officers. The indemnification agreements are intended to provide the directors and officers the maximum indemnification permitted under Delaware law and the 1940 Act and are generally consistent with the indemnification provisions of the Company’s certificate of incorporation and bylaws. Each indemnification agreement provides that the Company will indemnify the director or officer who is a party to the agreement (an “Indemnitee”), including the advancement of legal expenses, if, by reason of his or her corporate status, the Indemnitee is, or is threatened to be, made a party to or a witness in any threatened, pending, or completed proceeding, to the maximum extent permitted by Delaware law and the 1940 Act. MS Credit Partners Holdings, Inc. Investment MS Credit Partners Holdings, Inc., or MS Credit Partners Holdings, a wholly owned subsidiary of Morgan Stanley and an affiliate of the Investment Adviser, made an aggregate capital commitment of $200,000 to the Company pursuant to a subscription agreement entered into in December 2019. As of June 30, 2023 and December 31, 2022, MS Credit Partners Holdings held approximately 11.8% and 11.9% of the Company’s outstanding shares of Common Stock, respectively. Morgan Stanley has no further capital, liquidity or other financial obligation to the Company beyond this equity investment. Morgan Stanley & Co. Related Transactions Morgan Stanley & Co. LLC, a wholly owned subsidiary of Morgan Stanley and an affiliate of the Investment Adviser, served as an initial purchaser in connection with the private placement of the Company’s 2027 Notes (as defined below in Note 6) and received fees of $213 at closing, under the purchase agreement entered into by the Company in connection with such private placement. Morgan Stanley & Co. LLC served as a co-agent in connection with the private placement of the Company’s 2025 Notes (as defined below in Note 6) and received fees of $138 at closing. These fees are deferred and amortized over the life of the related term obligation using the straight-line method. Any unamortized amounts are presented as a reduction to the outstanding term debt principal amount on the Consolidated Statements of Assets and Liabilities. |
Investments
Investments | 6 Months Ended |
Jun. 30, 2023 | |
Schedule of Investments [Abstract] | |
Investments | Investments The composition of the Company’s investment portfolio at cost and fair value was as follows: June 30, 2023 December 31, 2022 Cost Fair Value % of Total Investments at Fair Value Cost Fair Value % of Total Investments at Fair Value First Lien Debt $ 2,845,602 $ 2,798,179 93.8 % $ 2,753,620 $ 2,694,111 93.8 % Second Lien Debt 145,602 131,741 4.4 136,620 128,350 4.5 Other Securities 50,496 53,807 1.8 49,406 51,127 1.7 Total $ 3,041,700 $ 2,983,727 100.0 % $ 2,939,646 $ 2,873,588 100.0 % The industry composition of investments at fair value was as follows: June 30, 2023 December 31, 2022 (1) Aerospace & Defense 1.8 % 1.8 % Air Freight & Logistics 1.1 1.1 Automobile Components 3.7 3.8 Automobiles 5.1 5.1 Biotechnology 0.5 0.5 Chemicals 0.7 0.6 Commercial Services & Supplies 10.6 11.2 Construction & Engineering 1.5 1.3 Containers & Packaging 1.5 1.6 Distributors 2.9 4.2 Diversified Consumer Services 3.4 3.0 Electronic Equipment, Instruments & Components 1.6 1.0 Energy Equipment & Services 0.5 0.5 Financial Services 0.6 0.7 Food Products 2.7 2.5 Health Care Equipment & Supplies 0.4 0.3 Health Care Providers & Services 3.8 3.4 Health Care Technology 0.8 0.7 Industrial Conglomerates 1.3 0.2 Insurance Services 15.5 15.7 Interactive Media & Services 3.4 3.5 IT Services 9.2 9.6 Leisure Products 0.7 0.8 Machinery 2.7 3.0 Multi-Utilities 0.6 0.6 Oil, Gas & Consumable Fuels — 0.0 (2) Pharmaceuticals 0.4 0.4 Professional Services 3.3 3.2 Real Estate Management & Development 5.4 5.4 Software 14.3 14.3 Total 100.0 % 100.0 % (1) The Company reclassified certain industry groupings of its portfolio companies presented in the consolidated financial statements as of December 31, 2022 to align with the recently updated GICS, where applicable. These reclassifications had no impact on the Consolidated Statement of Assets and Liabilities as of December 31, 2022. (2) Amount rounds to 0.0%. The geographic composition of investments at cost and fair value was as follows: June 30, 2023 December 31, 2022 Cost Fair Value % of Total Cost Fair Value % of Total Australia $ 10,164 $ 10,057 0.3 % $ 10,187 $ 9,870 0.3 % Canada 98,170 96,383 3.2 108,820 105,764 3.7 United Kingdom 11,555 11,683 0.4 11,157 11,157 0.4 United States 2,921,811 2,865,604 96.1 2,809,482 2,746,797 95.6 Total $ 3,041,700 $ 2,983,727 100.0 % $ 2,939,646 $ 2,873,588 100.0 % |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2023 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements ASC 820 establishes a hierarchical disclosure framework which ranks the observability of inputs used in measuring financial instruments at fair value. The observability of inputs is impacted by a number of factors, including the type of financial instruments and their specific characteristics. Financial instruments with readily available quoted prices, or for which fair value can be measured from quoted prices in active markets, generally will have a higher degree of market price observability and a lesser degree of judgment applied in determining fair value. The three-level hierarchy for fair value measurements is defined as follows: Level 1—inputs to the valuation methodology are quoted prices available in active markets for identical financial instruments as of the measurement date. The types of financial instruments in this category include unrestricted securities, including equities and derivatives, listed in active markets. The Company will not adjust the quoted price for these instruments, even in situations where the Company holds a large position and a sale could reasonably impact the quoted price. Level 2—inputs to the valuation methodology are quoted prices in markets that are not active or for which all significant inputs are either directly or indirectly observable as of the measurement date. The types of financial instruments in this category include less liquid and restricted securities listed in active markets, securities traded in markets that are not active, and certain over-the-counter derivatives where the fair value is based on observable inputs. Level 3—inputs to the valuation methodology are unobservable and significant to the overall fair value measurement, and include situations where there is little, if any, market activity for the investment. The inputs into the determination of fair value require significant management judgment or estimation. The types of financial instruments in this category include investments in privately held entities, non-investment grade residual interests in securitizations and certain over-the-counter derivatives where the fair value is based on unobservable inputs. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the determination of which category within the fair value hierarchy is appropriate for any given financial instrument is based on the lowest level of input that is significant to the fair value measurement. Assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the financial instrument. Pursuant to the framework set forth above, the Company values securities traded in active markets on the measurement date by multiplying the exchange closing price of such traded securities/instruments by the quantity of shares or amount of the instrument held. The Company may also obtain quotes with respect to certain of the investments from pricing services, brokers or dealers’ quotes, or counterparty marks in order to value liquid assets that are not traded in active markets. Pricing services aggregate, evaluate and report pricing from a variety of sources including observed trades of identical or similar securities, broker or dealer quotes, model-based valuations and internal fundamental analysis and research. When doing so, the Company determines whether the quote obtained is sufficient according to U.S. GAAP to determine the fair value of the security. If determined adequate, the Company uses the quote obtained. Securities that are illiquid or for which the pricing source does not provide a valuation or methodology or provides a valuation or methodology that, in the judgment of the Valuation Designee or the Board of Directors, does not represent fair value, each is valued as of the measurement date using all techniques appropriate under the circumstances and for which sufficient data is available. These valuation techniques may vary by investment but include comparable public market valuations, comparable precedent transaction valuations and discounted cash flow analyses. Non-controlled debt investments are generally fair valued using discounted cash flow technique. Expected cash flows are projected based on contractual terms and discounted back to the measurement date based on a discount rate. Discount rate is determined based upon an assessment of current and expected yields for similar investments and risk profiles. Non-controlled equity investments are generally fair valued using a market approach and/or an income approach. The market approach typically utilizes market value multiples of comparable publicly traded companies. The income approach typically utilizes a discounted cash flow analysis of the portfolio company. The Valuation Designee, under the supervision of the Board of Directors undertakes a multi-step valuation process each quarter, as described below: 1) each portfolio company or investment is initially valued by using a standardized template designed to approximate fair market value based on observable market inputs and updated credit statistics and unobservable inputs; 2) preliminary valuation conclusions are documented and reviewed by a valuation committee comprised of members of the Investment Adviser’s senior management; 3) the Board of Directors or Valuation Designee engages independent third-party valuation firms to provide positive assurance on a portion of the Company’s illiquid investments each quarter (such that each illiquid investment is reviewed by an independent valuation firm at least once on a rolling twelve-month basis) including review of management’s preliminary valuation and conclusion of fair value; 4) the Audit Committee reviews the assessments of the Valuation Designee and the independent third-party valuation firms and provides the Board of Directors with recommendations with respect to the fair value of each investment in the Company’s portfolio; and 5) the Board of Directors discusses the valuation recommendations of the Audit Committee and determine the fair value of each investment in the Company’s portfolio in good faith based on the input of the Valuation Designee and, where applicable, the third-party valuation firms. The fair value is generally determined based on the assessment of the following factors, as relevant: • the nature and realizable value of any collateral; • call features, put features and other relevant terms of debt; • the portfolio company’s leverage and ability to make payments; • the portfolio company’s public or private letter credit ratings; • the portfolio company’s actual and expected earnings and discounted cash flow; • prevailing interest rates for like securities and expected volatility in future interest rates; • the markets in which the issuer does business and recent economic and/or market events; and • comparisons to publicly traded securities. Investment performance data utilized will be the most recently available as of the measurement date which in many cases may reflect up to a one quarter lag in information. The Board of Directors is ultimately responsible for the determination, in good faith, of the fair value of the Company’s portfolio investments. Transfer of portfolio investments within the three-level hierarchy is recorded during the period of such reclassification occurrence at the fair value as of the beginning of the respective period. Generally, reclassifications are primarily due to increase/decrease of price transparency. The following tables present the fair value hierarchy of investments: June 30, 2023 Level 1 Level 2 Level 3 Total First Lien Debt $ — $ 25,526 $ 2,772,653 $ 2,798,179 Second Lien Debt — 18,657 113,084 131,741 Other Securities — — 39,102 39,102 Subtotal $ — $ 44,183 $ 2,924,839 $ 2,969,022 Investment measured at net asset value (1) $ 14,705 Total $ 2,983,727 December 31, 2022 Level 1 Level 2 Level 3 Total First Lien Debt $ — $ 25,362 $ 2,668,749 $ 2,694,111 Second Lien Debt — 5,459 122,891 128,350 Other Securities — — 36,395 36,395 Subtotal $ — $ 30,821 $ 2,828,035 $ 2,858,856 Investment measured at net asset value (1) $ 14,732 Total $ 2,873,588 (1) The Company, as a practical expedient, estimates the fair value of its investment in Help HP SCF Investor, LP using the net asset value of the Company’s members’ interest in the entity. As such, the fair value has not been classified within the fair value hierarchy. The following table presents changes in the fair value of the investments for which Level 3 inputs were used to determine the fair value for the three months ended June 30, 2023: First Lien Debt Second Lien Debt Other Securities Total Investments Fair value, beginning of period $ 2,713,691 $ 115,410 $ 37,053 $ 2,866,154 Purchases of investments 82,682 86 17 82,785 Proceeds from principal repayments and sales of investments (37,683) — — (37,683) Accretion of discount/amortization of premium 2,516 69 2 2,587 Payment-in-kind 425 126 506 1,057 Net change in unrealized appreciation (depreciation) 11,022 (2,607) 1,524 9,939 Net realized gains (losses) — — — — Transfers into/(out) of Level 3 — — — — Fair value, end of period $ 2,772,653 $ 113,084 $ 39,102 $ 2,924,839 Net change in unrealized appreciation (depreciation) from investments still held as of June 30, 2023 $ 11,184 $ (2,607) $ 1,524 $ 10,101 The following table presents changes in the fair value of the investments for which Level 3 inputs were used to determine the fair value for the six months ended June 30, 2023: First Lien Debt Second Lien Debt Other Securities Total Investments Fair value, beginning of period $ 2,668,749 $ 122,891 $ 36,395 $ 2,828,035 Purchases of investments 212,587 8,586 91 221,264 Proceeds from principal repayments and sales of investments (126,765) — — (126,765) Accretion of discount/amortization of premium 4,949 136 4 5,089 Payment-in-kind 806 260 994 2,060 Net change in unrealized appreciation (depreciation) 12,205 (2,600) 1,618 11,223 Net realized gains (losses) 122 — — 122 Transfers into/(out) of Level 3 — (16,189) — (16,189) Fair value, end of period $ 2,772,653 $ 113,084 $ 39,102 $ 2,924,839 Net change in unrealized appreciation (depreciation) from investments still held as of June 30, 2023 $ 11,813 $ (2,600) $ 1,618 $ 10,831 The following table presents changes in the fair value of the investments for which Level 3 inputs were used to determine the fair value for the three months ended June 30, 2022: First Lien Debt Second Lien Debt Other Securities Total Investments Fair value, beginning of period $ 2,352,558 $ 113,929 $ 28,476 $ 2,494,963 Purchases of investments 384,074 — 4,753 3,792 392,619 Proceeds from principal repayments and sales of investments (216,608) — — (216,608) Accretion of discount/amortization of premium 3,236 83 — 3,319 Payment-in-kind 295 125 381 801 Net change in unrealized appreciation (depreciation) (31,071) (2,383) 249 (33,205) Net realized gains (losses) 484 (19) — 465 Transfers into/(out) of Level 3 — — — — Fair value, end of period $ 2,492,968 $ 116,488 $ 32,898 $ 2,642,354 Net change in unrealized appreciation (depreciation) from investments still held as of June 30, 2022 $ (29,896) $ (2,383) $ 249 $ (32,030) The following table presents changes in the fair value of the investments for which Level 3 inputs were used to determine the fair value for the six months ended June 30, 2022: First Lien Debt Second Lien Debt Other Securities Total Investments Fair value, beginning of period $ 2,207,036 $ 121,550 $ 27,973 $ 2,356,559 Purchases of investments 551,300 15,233 3,792 570,325 Proceeds from principal repayments and sales of investments (236,922) — — (236,922) Accretion of discount/amortization of premium 5,134 160 — 5,294 Payment-in-kind 515 259 397 1,171 Net change in unrealized appreciation (depreciation) (34,609) (3,195) 736 (37,068) Net realized gains (losses) 514 (19) — 495 Transfers into/(out) of Level 3 — (17,500) — (17,500) Fair value, end of period $ 2,492,968 $ 116,488 $ 32,898 $ 2,642,354 Net change in unrealized appreciation (depreciation) from investments still held as of June 30, 2022 $ (34,226) $ (3,175) $ 736 $ (36,665) The following table presents quantitative information about the significant unobservable inputs of the Company’s Level 3 financial instruments. The table is not intended to be all-inclusive but instead captures the significant unobservable inputs relevant to the Company’s determination of fair value. June 30, 2023 Range Fair Valuation Technique Unobservable Low High Weighted Investments in first lien debt $ 2,447,275 Yield Analysis Discount Rate 9.03 % 18.95 % 11.52 % 325,378 Transaction Price Recent Transaction 98.30 % 99.40 % 99.13 % Investments in second lien debt $ 91,409 Yield Analysis Discount Rate 11.38 % 22.20 % 14.56 % 21,675 Transaction Price Recent Transaction 85.00 % 85.00 % 85.00 % Investments in other securities: Unsecured debt $ 1,859 Income Approach Discount Rate 14.50 % 14.50 % 14.50 % 610 Market Approach EBITDA Multiple 9.00x 9.00x 9.00x Preferred equity 17,606 Income Approach Discount Rate 12.20 % 15.40 % 13.43 % 1,275 Market Approach Revenue Multiple 7.50x 7.50x 7.50x Common equity 16,660 Market Approach EBITDA Multiple 8.10x 18.70x 13.47x 1,092 Market Approach Revenue Multiple 8.80x 8.80x 8.80x Total investments in other securities $ 39,102 Total Investments $ 2,924,839 December 31, 2022 Range Fair Valuation Technique Unobservable Low High Weighted Investments in first lien debt $ 2,624,749 Yield Analysis Discount Rate 9.20 % 20.44 % 11.27 % 44,000 Transaction Price Recent Transaction 100.00 % 100.00 % 100.00 % Investments in second lien debt $ 122,891 Yield Analysis Discount Rate 12.14 % 17.20 % 14.24 % Investments in other securities Unsecured debt $ 1,826 Income Approach Discount Rate 16.60 % 16.60 % 16.60 % 372 Market Approach EBITDA Multiple 9.00x 9.00x 9.00x Preferred equity 16,076 Income Approach Discount Rate 12.20 % 15.69 % 13.62 % 963 Market Approach Revenue Multiple 8.78x 8.78x 8.78x Common equity 15,877 Market Approach EBITDA Multiple 8.10x 18.70x 13.25x 1,281 Market Approach Revenue Multiple 10.20x 10.20x 10.20x Total investments in other securities $ 36,395 Total Investments $ 2,828,035 The significant unobservable input used in yield analysis is discount rate based on comparable market yields. Significant increases in discount rates in isolation would result in a significantly lower fair value measurement. The significant unobservable input used in the market approach is the comparable company multiple. The multiple is used to estimate the enterprise value of the underlying investment. An increase/decrease in the multiple would result in an increase/decrease, respectively, in the fair value. Financial instruments disclosed but not carried at fair value The Company’s debt, including its credit facilities, 2027 Notes (as defined below in Note 6) and 2025 Notes (as defined below in Note 6), are presented at carrying value on the Consolidated Statements of Assets and Liabilities. The fair value of the Company’s 2027 Notes is based on vendor pricing received by the Company, which is categorized as Level 2 within the fair value hierarchy, and as of June 30, 2023, the fair value of the Company’s 2027 Notes was $402,348. The fair value of the Company’s credit facilities and 2025 Notes are estimated using Level 3 inputs by discounting remaining payments using the appropriate discount rates, if available. The carrying value and fair value of the Company’s debt were as follows: June 30, 2023 December 31, 2022 Carrying Value Fair Value Carrying Value Fair Value BNP Funding Facility $ 370,000 $ 370,000 $ 400,000 $ 400,000 Truist Credit Facility 492,259 492,259 432,254 432,254 2027 Notes (1) 420,161 402,348 419,498 394,995 2025 Notes (1) 272,324 275,000 271,723 275,000 Total $ 1,554,744 $ 1,539,607 $ 1,523,475 $ 1,502,249 (1) As of June 30, 2023, the carrying value of the Company’s 2027 Notes and 2025 Notes were presented net of unamortized debt issuance costs of $4,065 and $2,676, and unamortized original issuance discount of $775 and $0, respectively. As of December 31, 2022, the carrying value of the Company’s 2027 Notes and 2025 Notes were presented net of unamortized debt issuance costs of $4,622 and $3,277, and unamortized original issuance discount of $881 and $0, respectively. The carrying amounts of the Company’s assets and liabilities, other than investments at fair value and debt, approximate fair value. These financial instruments are categorized as Level 3 within the hierarchy. |
Debt
Debt | 6 Months Ended |
Jun. 30, 2023 | |
Debt Disclosure [Abstract] | |
Debt | Debt CIBC Subscription Facility On December 31, 2019, the Company entered into a revolving credit agreement with CIBC Bank USA as administrative agent and arranger, which was subsequently amended on February 3, 2020, November 17, 2020, January 18, 2022 and February 3, 2022 (as amended, the “CIBC Subscription Facility”). The facility matured on December 31, 2022. The CIBC Subscription Facility allowed the Company to borrow up to the maximum revolving commitment at any one time outstanding, subject to certain restrictions, including availability under the borrowing base, which is based on unused Capital Commitments. The CIBC Subscription Facility bore interest at a rate at the Company’s election of either (i) the per annum one or three-month LIBOR, divided by a number determined by subtracting from 1.00 the then stated maximum reserve percentage for determining reserves to be maintained by member banks of the Federal Reserve System for Eurocurrency funding or liabilities, plus 1.65% or (ii) the prime rate plus 0.65%, as calculated under the CIBC Subscription Facility. The CIBC Subscription Facility was secured by the unfunded commitments of certain stockholders of the Company. For the three and six months ended June 30, 2022, the Company did not make any borrowings and repaid $35,000 under the CIBC Subscription Facility. The summary information of the CIBC Subscription Facility is as follows: For the Three Months Ended For the Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Borrowing interest expense $ — $ 1,779 $ — $ 3,179 Facility unused commitment fees — 2 — 13 Amortization of deferred financing costs — 288 — 798 Total $ — $ 2,069 $ — $ 3,990 Weighted average interest rate (excluding unused fees and financing costs) — % 2.40 % — % 2.10 % Weighted average outstanding balance $ — $ 292,658 $ — $ 301,455 BNP Funding Facility On October 14, 2020, DLF LLC entered into a Revolving Credit and Security Agreement (the “Credit and Security Agreement”, which was subsequently amended on December 11, 2020 and March 2, 2021) with DLF LLC, as the borrower, BNP Paribas (“BNP”), as the administrative agent and lender, the Company, as the equity holder and as the servicer, and U.S. Bank National Association, as collateral agent to (as amended, the “BNP Funding Facility”). As of June 30, 2023, the borrowing capacity under the BNP Funding Facility was $600,000. The applicable margin on borrowings during the reinvestment period ranges between 1.95% and 2.75% and, after the reinvestment period, between 2.45% and 3.25%. The obligations of DLF LLC under the BNP Funding Facility are secured by the assets held by DLF LLC. The BNP Funding Facility has a maturity date of October 13, 2025. The summary information of the BNP Funding Facility is as follows: For the Three Months Ended For the Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Borrowing interest expense $ 7,053 $ 3,318 $ 13,958 $ 6,148 Facility unused commitment fees 146 66 246 81 Amortization of deferred financing costs 283 286 543 566 Total $ 7,482 $ 3,670 $ 14,747 $ 6,795 Weighted average interest rate (excluding unused fees and financing costs) 7.38 % 3.14 % 7.14 % 2.82 % Weighted average outstanding balance $ 377,912 $ 417,324 $ 388,895 $ 433,323 For the three months ended June 30, 2023 and June 30, 2022, the Company borrowed $0 and $13,000, and repaid $30,000 and $43,000 under the BNP Funding Facility, respectively. For the six months ended June 30, 2023 and June 30, 2022, the Company borrowed $0 and $13,000, and repaid $30,000 and $71,000 under the BNP Funding Facility, respectively. As of June 30, 2023 and December 31, 2022, the Company had $370,000 and $400,000 outstanding under the BNP Funding Facility, respectively. As of June 30, 2023 and December 31, 2022, the Company had $230,000 and $200,000, respectively, of available capacity under the BNP Funding Facility (subject to borrowing base restrictions). Truist Credit Facilit y On July 16, 2021, the Company entered into a Senior Secured Revolving Credit Agreement with Truist Bank (the “Truist Credit Facility, which was subsequently amended on December 3, 2021, May 20, 2022 and January 31, 2023). The maximum principal amount of the Truist Credit Facility is $1,120,000, subject to availability under the borrowing base. The Truist Credit Facility includes an uncommitted accordion feature that, as of June 30, 2023, allows the Company, under certain circumstances, to increase the borrowing capacity to up to $1,500,000. As of June 30, 2023, the availability period of the Truist Credit Facility will terminate on January 29, 2027. The Truist Credit Facility is guaranteed by certain domestic subsidiaries of the Company (the “Guarantors”). The Company’s obligations to the lenders under the Truist Credit Facility are secured by a first priority security interest in substantially all of the assets of the Company and each Guarantor, subject to certain exceptions. The Company may borrow amounts in U.S. dollars or certain other permitted currencies. Borrowings under the Truist Credit Facility bear interest at a per annum rate equal to, (x) for loans for which the Company elects the base rate option, the “alternate base rate” (which is the highest of (a) the prime rate as publicly announced by Truist Bank, (b) the sum of (i) the weighted average of the rates on overnight federal funds transactions, as published by the Federal Reserve Bank of New York plus (ii) 0.5%, and (c) one month Term SOFR (as defined in the Truist Credit Facility) plus 1% per annum) plus and (y) for loans for which the Company elects the term benchmark option, Term SOFR, for borrowings denominated in U.S. dollars, or the applicable term benchmark rate for borrowings denominated in certain foreign currencies, in each case for the related interest period for such borrowing plus 1.875% per annum or such other applicable margin as is applicable to such foreign currency borrowings. The Company pays an unused fee of 0.375% per annum on the daily unused amount of the revolver commitments. The Company pays letter of credit participation fees and a fronting fee on the average daily amount of any letter of credit issued and outstanding under the Truist Credit Facility, as applicable. The Truist Credit Facility has a maturity date of January 31, 2028. The summary information of the Truist Credit Facility is as follows: For the Three Months Ended For the Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Borrowing interest expense $ 8,651 $ 1,948 $ 16,474 $ 3,467 Facility unused commitment fees 651 666 1,190 1,305 Amortization of deferred financing costs 516 318 955 638 Total $ 9,818 $ 2,932 $ 18,619 $ 5,410 Weighted average interest rate (excluding unused fees and financing costs) 6.95 % 2.72 % 6.71 % 2.37 % Weighted average outstanding balance $ 492,235 $ 283,423 $ 488,543 $ 290,254 For the three months ended June 30, 2023 and June 30, 2022, the Company borrowed $0 and $321,500, and repaid $0 and $136,000 under the Truist Credit Facility. For the six months ended June 30, 2023 and June 30, 2022, the Company borrowed $60,000 and $452,000, and repaid $0 and $551,000 under the Truist Credit Facility. As of June 30, 2023 and December 31, 2022, the Company had $492,259 and $432,254 outstanding under the Truist Credit Facility, respectively. As of June 30, 2023 and December 31, 2022, the Company had $626,491 and $538,521, respectively, of available capacity under the Truist Credit Facility (subject to borrowing base restrictions). Unsecured Notes 2027 Notes On February 11, 2022, the Company issued $425,000 in aggregate principal amount of 4.50% notes due 2027 (the restricted securities initially issued on February 11, 2022 together with the unrestricted securities issued pursuant to the exchange offer described below, the “2027 Notes”). The 2027 Notes will mature on February 11, 2027 and may be redeemed in whole or in part at the Company’s option at any time or from time to time at the redemption prices set forth in the indenture governing the 2027 Notes. The 2027 Notes are general unsecured obligations of the Company that rank senior in right of payment to all of the Company’s existing and future indebtedness that is expressly subordinated in right of payment to the 2027 Notes, rank pari passu with all existing and future unsecured unsubordinated indebtedness issued by the Company, rank effectively junior to any of the Company’s secured indebtedness (including unsecured indebtedness that the Company later secures) to the extent of the value of the assets securing such indebtedness, and rank structurally junior to all existing and future indebtedness (including trade payables) incurred by the Company’s subsidiaries, financing vehicles or similar facilities. Pursuant to a Registration Statement on Form N-14 (File No. 333-264774), on July 20, 2022, the Company closed an exchange offer in which holders of the 2027 Notes that were restricted because they were issued in a private placement were offered the opportunity to exchange such notes for new, registered notes with substantially identical terms. Through this exchange offer, holders representing 85.87% of the outstanding principal of the then restricted 2027 Notes obtained registered unrestricted 2027 Notes. The summary information of 2027 Notes is as follows: For the Three Months Ended For the Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Borrowing interest expense $ 4,781 $ 4,781 $ 9,563 $ 7,438 Accretion of original issuance discount 53 54 106 82 Amortization of debt issuance costs 280 276 557 425 Total $ 5,114 $ 5,111 $ 10,226 $ 7,945 Stated interest rate 4.50 % 4.50 % 4.50 % 4.50 % 2025 Notes On September 13, 2022, the Company entered into a Master Note Purchase Agreement (the “Note Purchase Agreement”) governing the issuance of $275,000 in aggregate principal amount of Series A Senior Notes due September 13, 2025 (the “2025 Notes”) to certain qualified institutional investors in a private placement. The 2025 Notes were delivered and paid for on September 13, 2022, subject to certain customary closing conditions. The 2025 Notes have a fixed interest rate of 7.55% per year. The 2025 Notes will mature on September 13, 2025 unless redeemed, purchased or prepaid prior to such date by the Company in accordance with the terms of the Note Purchase Agreement. Interest on the 2025 Notes is due semiannually in February and August of each year. Subject to the terms of the Note Purchase Agreement, the Company may redeem the 2025 Notes in whole or in part at any time or from time to time at the Company’s option at par plus accrued interest to the prepayment date and, if redeemed on or before June 13, 2025, a make-whole premium. The Company’s obligations under the Note Purchase Agreement are general unsecured obligations that rank pari passu with all outstanding and future unsecured unsubordinated indebtedness issued by the Company. The summary information of 2025 Notes is as follows: For the Three Months Ended For the Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Borrowing interest expense $ 5,191 $ — $ 10,381 $ — Amortization of debt issuance costs 302 — 601 — Total $ 5,493 $ — $ 10,982 $ — Stated interest rate 7.55 % — % 7.55 % — % The Company’s debt obligations were as follows. Unused debt capacity of credit facilities were subject to certain borrowing base restrictions: June 30, 2023 December 31, 2022 Aggregate Principal Committed Outstanding Principal Unused Portion Aggregate Principal Committed Outstanding Principal Unused Portion CIBC Subscription Facility (1) $ — $ — $ — $ — $ — $ — BNP Funding Facility 600,000 370,000 230,000 600,000 400,000 200,000 Truist Credit Facility (2)(3) 1,120,000 492,259 626,491 975,000 432,254 538,521 2027 Notes (4) 425,000 425,000 — 425,000 425,000 — 2025 Notes (4) 275,000 275,000 — 275,000 275,000 — Total $ 2,420,000 $ 1,562,259 $ 856,491 $ 2,275,000 $ 1,532,254 $ 738,521 (1) The CIBC Subscription Facility matured on December 31, 2022 and was fully paid off. (2) As of June 30, 2023 and December 31, 2022, a letter of credit of $1,250 and $4,225, respectively, was outstanding, which reduced the unused availability under the Truist Credit Facility by the same amount. (3) Under the Truist Credit Facility, the Company may borrow in U.S. dollars or certain other permitted currencies. As of June 30, 2023, the Company had borrowings denominated in Euros (EUR) of 238. (4) As of June 30, 2023, the carrying value of the Company’s 2027 Notes and 2025 Notes were presented on the Consolidated Statements of Assets and Liabilities net of unamortized debt issuance costs of $4,065 and $2,676, and unamortized original issuance discount of $775 and $0, respectively. The combined weighted average interest rate (excluding unused fees and financing costs) of the aggregate borrowings outstanding for the three months ended June 30, 2023 and June 30, 2022 was 6.47% and 3.30%, respectively. The combined weighted average debt of the aggregate borrowings outstanding for the three months ended June 30, 2023 and June 30, 2022 was $1,570,147 and $1,418,405, respectively. The combined weighted average interest rate (excluding unused fees and financing costs) of the aggregate borrowings outstanding for the six months ended June 30, 2023 and June 30, 2022 was 6.35% and 2.77%, respectively. The combined weighted average debt of the aggregate borrowings outstanding for the six month ended June 30, 2023 and June 30, 2022 was $1,577,438 and $1,450,032, respectively. As of June 30, 2023 and December 31, 2022, the Company was in compliance with all covenants and other requirements of each of the credit facilities, the 2027 Notes and the 2025 Notes. |
Commitment and Contingencies
Commitment and Contingencies | 6 Months Ended |
Jun. 30, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies In the normal course of business, the Company may enter into contracts that provide a variety of general indemnifications. Any exposure to the Company under these arrangements could involve future claims that may be made against the Company. Currently, no such claims exist or are expected to arise and, accordingly, the Company has not accrued any liability in connection with such indemnifications. As of June 30, 2023 and December 31, 2022, the Company had $245,557 and $314,251 of unfunded commitments to fund delayed draw and revolving senior secured loans, respectively. |
Net Assets
Net Assets | 6 Months Ended |
Jun. 30, 2023 | |
Equity [Abstract] | |
Net Assets | Net Assets The following table shows the components of net distributable earnings (accumulated losses) as shown on the Consolidated Statements of Assets and Liabilities: As of June 30, 2023 December 31, 2022 Net distributable earnings (accumulated losses), beginning of period $ (54,779) $ 15,782 Net investment income/(loss) after taxes 92,017 128,010 Accumulated net realized gain (loss) 122 537 Net unrealized appreciation (depreciation) 8,080 (80,005) Dividends declared (76,112) (119,437) Tax reclassification of stockholders’ equity — 334 Net distributable earnings (accumulated losses), end of period $ (30,672) $ (54,779) For the three months ended June 30, 2023 the Company did not issue any capital calls pursuant to the Subscription Agreements. The following table summarizes the total shares issued and proceeds received from the Company’s capital drawdowns delivered pursuant to the Subscription Agreements for the six months ended June 30, 2022: Share Issuance Date Shares Issued Amount May 16, 2022 3,548,132 $ 74,866 Total 3,548,132 $ 74,866 The following table summarizes the Company’s distributions declared and payable for the six months ended June 30, 2023: Date Declared Record Date Payment Date Per Share Amount Total Amount March 28, 2023 March 28, 2023 April 25, 2023 $ 0.50 $ 35,377 June 27, 2023 June 27, 2023 July 25, 2023 0.57 40,735 (1) Total Distributions $ 1.07 $ 76,112 (1) Includes a supplemental distribution of $0.07. The following table summarizes the Company’s distributions declared and payable for the six months ended June 30, 2022: Date Declared Record Date Payment Date Per Share Amount Total Amount March 25, 2022 March 25, 2022 April 27, 2022 $ 0.48 $ 27,455 June 24, 2022 June 24, 2022 July 27, 2022 0.47 28,601 Total Distributions $ 0.95 $ 56,056 The Company adopted an “opt in” dividend reinvestment plan, or the DRIP. As a result, the Company’s stockholders who elect to “opt in” to the DRIP will have their cash dividends or distributions automatically reinvested in additional shares of Common Stock, rather than receiving cash. Stockholders who receive distributions in the form of shares of Common Stock will generally be subject to the same U.S. federal, state and local tax consequences as if they received cash distributions; however, those stockholders will not receive cash with which to pay any applicable taxes. Shares issued under the DRIP will not reduce an investor’s outstanding capital commitment. The following table summarizes the DRIP shares issued to stockholders who have “opted in” to the DRIP for the six months ended June 30, 2023 and the value of such shares as of the payment dates: Payment Date DRIP Shares Issued DRIP Shares Value January 25, 2023 445,235 $ 8,891 April 25, 2023 482,721 9,698 Total 927,956 $ 18,589 The following table summarizes the DRIP shares issued to stockholders who have “opted in” to the DRIP for the six months ended June 30, 2022 and the value of such shares as of the payment dates: Payment Date DRIP Shares Issued DRIP Shares Value January 25, 2022 358,891 $ 7,540 April 27, 2022 332,212 6,964 Total 691,103 $ 14,504 |
Earnings Per Share
Earnings Per Share | 6 Months Ended |
Jun. 30, 2023 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share: For the Three Months Ended For the Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Numerator—net increase/(decrease) in net assets resulting from operations $ 56,442 $ (3,263) $ 100,219 $ 18,983 Denominator—weighted average shares outstanding 71,337,323 59,227,774 71,101,563 58,170,368 Basic and diluted earnings (loss) per share $ 0.79 $ (0.06) $ 1.41 $ 0.33 |
Consolidated Financial Highligh
Consolidated Financial Highlights | 6 Months Ended |
Jun. 30, 2023 | |
Investment Company [Abstract] | |
Consolidated Financial Highlights | Consolidated Financial Highlights The following are the financial highlights (dollar amounts in thousands, except per share amounts): For the Six Months Ended June 30, 2023 June 30, 2022 Per Share Data: (1) Net asset value, beginning of period $ 19.81 $ 20.91 Net investment income (loss) 1.29 0.96 Net unrealized and realized gain (loss) (2) 0.12 (0.61) Net increase (decrease) in net assets resulting from operations 1.41 0.35 Dividends declared (1.07) (0.95) Issuance of common stock — 0.01 Total increase (decrease) in net assets 0.34 (0.59) Net asset value, end of period $ 20.15 $ 20.32 Shares outstanding, end of period 71,464,634 61,077,262 Total return based on net asset value (3) 7.17 % 1.69 % Ratio/Supplemental Data (all amounts in thousands except ratios and shares): Net assets, end of period $ 1,440,001 $ 1,240,884 Weighted average shares outstanding 71,101,563 58,170,368 Ratio of net expenses to average net assets (4) 9.91 % 5.58 % Ratio of expenses before waivers to average net assets (4) 11.47 % 7.14 % Ratio of net investment income to average net assets (4) 14.29 % 9.95 % Ratio of total contributed capital to total committed capital, end of period 86.48 % 75.95 % Asset coverage ratio 192.17 % 183.62 % Portfolio turnover rate 4.33 % 9.71 % (1) The per share data was derived by using the weighted average shares outstanding during the period. (2) For the six months ended June 30, 2023 and June 30, 2022, the amount shown does not correspond with the aggregate amount for the period as it includes the effect of the timing of capital transactions. (3) Total return (not annualized) is calculated assuming a purchase of Common Stock at the opening of the first day of the period and a sale on the closing of the last business day of the period. Dividends and distributions, if any, are assumed for purposes of this calculation, to be reinvested at prices obtained under the Company’s DRIP. (4) Amounts are annualized except for incentive fees, and expense support amounts relating to organization and offering costs. |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2023 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent Events Subsequent events have been evaluated through the date the consolidated financial statements were issued. There have been no subsequent events that occurred during such period that would require disclosure in this Form 10-Q or would be required to be recognized in the consolidated financial statements as of and for the six months ended June 30, 2023. |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Pay vs Performance Disclosure | ||||
Net increase (decrease) in net assets resulting from operations | $ 56,442 | $ (3,263) | $ 100,219 | $ 18,983 |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Jun. 30, 2023 | |
Trading Arrangements, by Individual | |
Rule 10b5-1 Arrangement Adopted | false |
Non-Rule 10b5-1 Arrangement Adopted | false |
Rule 10b5-1 Arrangement Terminated | false |
Non-Rule 10b5-1 Arrangement Terminated | false |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2023 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). As an investment company, the Company applies the accounting and reporting guidance in Accounting Standards Codification (“ASC”) Topic 946, Financial Services – Investment Companies (“ASC 946”) issued by the Financial Accounting Standards Board (“FASB”). The interim consolidated financial statements have been prepared in accordance with U.S. GAAP for interim financial information and pursuant to the requirements for reporting on Form 10-Q and Articles 6 and 10 of Regulation S-X. Accordingly, certain disclosures accompanying the annual consolidated financial statements prepared in accordance with U.S. GAAP are omitted. In the opinion of management, all adjustments and reclassifications, consisting solely of normal recurring accruals considered necessary for the fair presentation of consolidated financial statements for the interim period presented, have been included. The current period’s results of operations will not necessarily be indicative of results that the Company may ultimately achieve for the year ending December 31, 2023. |
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, liabilities and expenses and disclosure of contingent assets and liabilities at the date of the consolidated financial statements. Such amounts could differ from those estimates and such differences could be material. Management’s estimates are based on historical experiences and other factors, including expectations of future events that management believes to be reasonable under the circumstances. Assumptions and estimates regarding the valuation of investments involve a higher degree of judgment and complexity and these assumptions and estimates may be significant to the consolidated financial statements. |
Consolidation | Consolidation As provided under ASC 946, the Company will not consolidate its investment in a 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 the consolidated financial statements. All intercompany balances and transactions have been eliminated in consolidation. |
Cash | Cash Cash is carried at cost, which approximates fair value. The Company deposits its cash with multiple financial institutions and, at times, may exceed the Federal Deposit Insurance Corporation insured limit. |
Foreign Currency Translation | Foreign Currency TranslationThe functional currency of the Company is the U.S. Dollar. Investments denominated in foreign currencies are translated into U.S. Dollars based upon currency exchange rates effective on the last business day of the current reporting period. Net changes in fair value of investments due to foreign exchange rates fluctuation is recorded as change in unrealized appreciation (depreciation) from translation of assets and liabilities in foreign currencies on the Consolidated Statements of Operations. Investment and non-investment activities denominated in foreign currencies, including purchase and sales of investments, borrowings and repayments of debt, income and expenses, are translated into U.S. dollars based upon currency exchange rates prevailing on the transaction dates. |
Investments | Investments Investment transactions are recorded on the trade date. Receivables/payables from investments sold/purchased on the Consolidated Statements of Assets and Liabilities consist of amounts receivable to or payable by the Company for transactions that have not settled at the reporting date. Realized gains or losses are measured by the difference between the net proceeds received (excluding prepayment fees, if any) and the amortized cost basis of the investment using the specific identification method without regard to unrealized gains or losses previously recognized, and include investments charged off during the period, net of recoveries. The net change in unrealized gains or losses primarily reflects the change in investment values, including the reversal of previously recorded unrealized gains or losses with respect to investments realized during the period. The Board of Directors, with the assistance of the Company’s audit committee (the “Audit Committee”), determines the fair value of the Company’s investments in accordance with ASC Topic 820, Fair Value Measurements (“ASC 820”) issued by the FASB. The Board of Directors has delegated to the Investment Adviser as the Valuation Designee the responsibility of determining the fair value of the Company’s investment portfolio, subject to oversight of the Board of Directors, pursuant to Rule 2a-5 under the 1940 Act. As such, the Valuation Designee is charged with determining the fair value of the Company’s investment portfolio, subject to oversight of |
Interest and PIK Income | Interest Income Interest income is recorded on an accrual basis and includes the accretion of discounts and amortizations 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 investment using the effective interest method. The amortized cost of debt investments represents the original cost, including loan 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. Upon prepayment of a loan or debt investment, any prepayment premiums, unamortized upfront loan origination fees and unamortized discounts are recorded as interest income in the current period. PIK Income The Company has debt investments in its portfolio that contain payment-in-kind (“PIK”) provisions. PIK represents interest that is accrued and recorded as interest income at the contractual rates, increases the loan principal on the respective capitalization dates, and is generally due at maturity. Such income is included in PIK income on the Consolidated Statements of Operations. If at any point the Company believes PIK is not expected to be realized, the investment generating PIK will be placed on non-accrual status. When a PIK investment is placed on non-accrual status, the accrued, uncapitalized interest is generally reversed through PIK income. This non-cash source of income is included when determining what must be paid out to stockholders in the form of distributions in order for the Company to maintain its status as a RIC, even though the Company has not yet collected cash. |
Dividend income | Dividend income Dividend income on preferred equity investments is recorded on an 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 investments is recorded on the record date for private portfolio companies. Dividend income is presented net of withholding tax, if any. |
Other Income | Other IncomeThe Company may receive various fees in the ordinary course of business such as structuring, consent, waiver, amendment and syndication fees as well as fees for managerial assistance rendered by the Company to the portfolio companies. Such fees are recognized in income when earned or when the services are rendered and there is no uncertainty or contingency related to the amount to be received. |
Non-Accrual | Non-Accrual Income Loans are generally placed on non-accrual status when there is reasonable doubt that principal or interest will be collected in full. Accrued interest is generally reversed when a loan is placed on non-accrual status. Additionally, any original issue discount and market discount are no longer accreted to interest income as of the date the loan is placed on non-accrual status. Interest payments received on non-accrual loans may be recognized as income or applied to principal depending upon management’s judgment regarding collectability. Non-accrual loans are restored to accrual status when past due principal and interest are paid current and, in management’s judgment, are likely to remain current. Management may determine to not place a loan on non-accrual status if the loan has sufficient collateral value and is in the process of collection. |
Organization and Offering Costs | Organization and Offering Costs Costs associated with the organization of the Company are expensed as incurred, subject to the limitations discussed in Note 3. These costs consist primarily of legal fees and other costs of organizing the Company. Costs associated with the offering of Common Stock are capitalized as “deferred offering costs” on the Consolidated Statements of Assets and Liabilities and amortized over a twelve-month period from the initial capital call, subject to the limitation described in Note 3 below. These costs consist primarily of legal fees and other costs incurred in connection with the Company’s continuous private offerings of its Common Stock. |
Expenses | Expenses The Company is responsible for investment expenses, professional fees and other general and administrative expenses related to the Company’s operations. Such fees and expenses, including expenses incurred by the Adviser on behalf of the Company, is reimbursed by the Company. |
Deferred Financing Costs and Debt issuance Costs | Deferred Financing Costs and Debt Issuance Costs The Company records upfront fees, legal and other direct costs incurred in connection with the Company’s issuance of revolving debt facilities (the “Deferred Financing Costs”). These costs are deferred and amortized over the life of the related revolving credit facilities using the straight-line method. Deferred Financing Costs related to revolving credit facilities are presented separately as an asset on the Company’s Consolidated Statements of Assets and Liabilities. The amortization of such Deferred Financing Costs are presented on the Consolidated Statements of Operations as interest expense and other financing expenses. The Company records costs related to the issuance of term debt obligations (the “Debt Issuance Costs”) on the consolidated financial statements. The costs, including upfront fees, legal and other direct costs incurred in connection with the issuance are deferred and amortized over the life of the related term obligation using the straight-line method. The amortization of Debt Issuance Costs are presented on the Consolidated Statements of Operations as interest expense and other financing expenses. Any unamortized Debt Issuance Costs are presented as a reduction to the outstanding term debt principal amount on the Consolidated Statements of Assets and Liabilities. |
Income Taxes | Income Taxes The Company has elected to be treated as a RIC under Subchapter M of the Code. So long as the Company maintains its status as a RIC, it generally will not pay corporate U.S. federal income taxes on any ordinary income or capital gains that it distributes, at least annually, to its stockholders as distributions. In order to qualify as a RIC, the Company must meet certain minimum distribution, source-of-income and asset diversification requirements. If such requirements are met, then the Company is generally required to pay income taxes only on the portion of its taxable income and gains it does not distribute. The minimum distribution requirements applicable to RICs require the Company to distribute to its stockholders at least 90% of its investment company taxable income (the “ICTI”), as defined by the Code, each year. Depending on the level of ICTI earned in a tax year, the Company may choose to carry forward ICTI in excess of current year distributions into the next tax year. Any such carryover ICTI must be distributed before the end of that next tax year through a distribution declared prior to filing the final tax return related to the year which generated such ICTI. In addition, based on the excise distribution requirements, the Company is subject to a 4% nondeductible federal excise tax on undistributed income unless the Company distributes in a timely manner an amount at least equal to the sum of (1) 98% of its ordinary income for each calendar year, (2) 98.2% of capital gain net income (both long-term and short-term) for the one-year period ending October 31 in that calendar year and (3) any income realized, but not distributed, in the preceding year. For this purpose, however, any ordinary income or capital gain net income retained by the Company that is subject to corporate income tax is considered to have been distributed. The Company currently intends to make sufficient distributions each taxable year to satisfy the excise distribution requirements. |
New Accounting Standards | New Accounting Standards The Company considers the applicability and impact of all accounting standard updates (“ASU”) issued by the FASB. The Company has assessed currently issued ASUs and has determined that they are not applicable or expected to have minimal impact on its consolidated financial statements. |
Investments (Tables)
Investments (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Schedule of Investments [Abstract] | |
Schedule of Investments | The composition of the Company’s investment portfolio at cost and fair value was as follows: June 30, 2023 December 31, 2022 Cost Fair Value % of Total Investments at Fair Value Cost Fair Value % of Total Investments at Fair Value First Lien Debt $ 2,845,602 $ 2,798,179 93.8 % $ 2,753,620 $ 2,694,111 93.8 % Second Lien Debt 145,602 131,741 4.4 136,620 128,350 4.5 Other Securities 50,496 53,807 1.8 49,406 51,127 1.7 Total $ 3,041,700 $ 2,983,727 100.0 % $ 2,939,646 $ 2,873,588 100.0 % The industry composition of investments at fair value was as follows: June 30, 2023 December 31, 2022 (1) Aerospace & Defense 1.8 % 1.8 % Air Freight & Logistics 1.1 1.1 Automobile Components 3.7 3.8 Automobiles 5.1 5.1 Biotechnology 0.5 0.5 Chemicals 0.7 0.6 Commercial Services & Supplies 10.6 11.2 Construction & Engineering 1.5 1.3 Containers & Packaging 1.5 1.6 Distributors 2.9 4.2 Diversified Consumer Services 3.4 3.0 Electronic Equipment, Instruments & Components 1.6 1.0 Energy Equipment & Services 0.5 0.5 Financial Services 0.6 0.7 Food Products 2.7 2.5 Health Care Equipment & Supplies 0.4 0.3 Health Care Providers & Services 3.8 3.4 Health Care Technology 0.8 0.7 Industrial Conglomerates 1.3 0.2 Insurance Services 15.5 15.7 Interactive Media & Services 3.4 3.5 IT Services 9.2 9.6 Leisure Products 0.7 0.8 Machinery 2.7 3.0 Multi-Utilities 0.6 0.6 Oil, Gas & Consumable Fuels — 0.0 (2) Pharmaceuticals 0.4 0.4 Professional Services 3.3 3.2 Real Estate Management & Development 5.4 5.4 Software 14.3 14.3 Total 100.0 % 100.0 % (1) The Company reclassified certain industry groupings of its portfolio companies presented in the consolidated financial statements as of December 31, 2022 to align with the recently updated GICS, where applicable. These reclassifications had no impact on the Consolidated Statement of Assets and Liabilities as of December 31, 2022. (2) Amount rounds to 0.0%. The geographic composition of investments at cost and fair value was as follows: June 30, 2023 December 31, 2022 Cost Fair Value % of Total Cost Fair Value % of Total Australia $ 10,164 $ 10,057 0.3 % $ 10,187 $ 9,870 0.3 % Canada 98,170 96,383 3.2 108,820 105,764 3.7 United Kingdom 11,555 11,683 0.4 11,157 11,157 0.4 United States 2,921,811 2,865,604 96.1 2,809,482 2,746,797 95.6 Total $ 3,041,700 $ 2,983,727 100.0 % $ 2,939,646 $ 2,873,588 100.0 % |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Fair Value Disclosures [Abstract] | |
Schedule of Portfolio Investments by Level in the Fair Value Hierarchy | The following tables present the fair value hierarchy of investments: June 30, 2023 Level 1 Level 2 Level 3 Total First Lien Debt $ — $ 25,526 $ 2,772,653 $ 2,798,179 Second Lien Debt — 18,657 113,084 131,741 Other Securities — — 39,102 39,102 Subtotal $ — $ 44,183 $ 2,924,839 $ 2,969,022 Investment measured at net asset value (1) $ 14,705 Total $ 2,983,727 December 31, 2022 Level 1 Level 2 Level 3 Total First Lien Debt $ — $ 25,362 $ 2,668,749 $ 2,694,111 Second Lien Debt — 5,459 122,891 128,350 Other Securities — — 36,395 36,395 Subtotal $ — $ 30,821 $ 2,828,035 $ 2,858,856 Investment measured at net asset value (1) $ 14,732 Total $ 2,873,588 (1) The Company, as a practical expedient, estimates the fair value of its investment in Help HP SCF Investor, LP using the net asset value of the Company’s members’ interest in the entity. As such, the fair value has not been classified within the fair value hierarchy. |
Changes in Level III Portfolio Investments | The following table presents changes in the fair value of the investments for which Level 3 inputs were used to determine the fair value for the three months ended June 30, 2023: First Lien Debt Second Lien Debt Other Securities Total Investments Fair value, beginning of period $ 2,713,691 $ 115,410 $ 37,053 $ 2,866,154 Purchases of investments 82,682 86 17 82,785 Proceeds from principal repayments and sales of investments (37,683) — — (37,683) Accretion of discount/amortization of premium 2,516 69 2 2,587 Payment-in-kind 425 126 506 1,057 Net change in unrealized appreciation (depreciation) 11,022 (2,607) 1,524 9,939 Net realized gains (losses) — — — — Transfers into/(out) of Level 3 — — — — Fair value, end of period $ 2,772,653 $ 113,084 $ 39,102 $ 2,924,839 Net change in unrealized appreciation (depreciation) from investments still held as of June 30, 2023 $ 11,184 $ (2,607) $ 1,524 $ 10,101 The following table presents changes in the fair value of the investments for which Level 3 inputs were used to determine the fair value for the six months ended June 30, 2023: First Lien Debt Second Lien Debt Other Securities Total Investments Fair value, beginning of period $ 2,668,749 $ 122,891 $ 36,395 $ 2,828,035 Purchases of investments 212,587 8,586 91 221,264 Proceeds from principal repayments and sales of investments (126,765) — — (126,765) Accretion of discount/amortization of premium 4,949 136 4 5,089 Payment-in-kind 806 260 994 2,060 Net change in unrealized appreciation (depreciation) 12,205 (2,600) 1,618 11,223 Net realized gains (losses) 122 — — 122 Transfers into/(out) of Level 3 — (16,189) — (16,189) Fair value, end of period $ 2,772,653 $ 113,084 $ 39,102 $ 2,924,839 Net change in unrealized appreciation (depreciation) from investments still held as of June 30, 2023 $ 11,813 $ (2,600) $ 1,618 $ 10,831 The following table presents changes in the fair value of the investments for which Level 3 inputs were used to determine the fair value for the three months ended June 30, 2022: First Lien Debt Second Lien Debt Other Securities Total Investments Fair value, beginning of period $ 2,352,558 $ 113,929 $ 28,476 $ 2,494,963 Purchases of investments 384,074 — 4,753 3,792 392,619 Proceeds from principal repayments and sales of investments (216,608) — — (216,608) Accretion of discount/amortization of premium 3,236 83 — 3,319 Payment-in-kind 295 125 381 801 Net change in unrealized appreciation (depreciation) (31,071) (2,383) 249 (33,205) Net realized gains (losses) 484 (19) — 465 Transfers into/(out) of Level 3 — — — — Fair value, end of period $ 2,492,968 $ 116,488 $ 32,898 $ 2,642,354 Net change in unrealized appreciation (depreciation) from investments still held as of June 30, 2022 $ (29,896) $ (2,383) $ 249 $ (32,030) The following table presents changes in the fair value of the investments for which Level 3 inputs were used to determine the fair value for the six months ended June 30, 2022: First Lien Debt Second Lien Debt Other Securities Total Investments Fair value, beginning of period $ 2,207,036 $ 121,550 $ 27,973 $ 2,356,559 Purchases of investments 551,300 15,233 3,792 570,325 Proceeds from principal repayments and sales of investments (236,922) — — (236,922) Accretion of discount/amortization of premium 5,134 160 — 5,294 Payment-in-kind 515 259 397 1,171 Net change in unrealized appreciation (depreciation) (34,609) (3,195) 736 (37,068) Net realized gains (losses) 514 (19) — 495 Transfers into/(out) of Level 3 — (17,500) — (17,500) Fair value, end of period $ 2,492,968 $ 116,488 $ 32,898 $ 2,642,354 Net change in unrealized appreciation (depreciation) from investments still held as of June 30, 2022 $ (34,226) $ (3,175) $ 736 $ (36,665) |
Schedule of Fair Value Measurement Inputs and Valuation Techniques | The following table presents quantitative information about the significant unobservable inputs of the Company’s Level 3 financial instruments. The table is not intended to be all-inclusive but instead captures the significant unobservable inputs relevant to the Company’s determination of fair value. June 30, 2023 Range Fair Valuation Technique Unobservable Low High Weighted Investments in first lien debt $ 2,447,275 Yield Analysis Discount Rate 9.03 % 18.95 % 11.52 % 325,378 Transaction Price Recent Transaction 98.30 % 99.40 % 99.13 % Investments in second lien debt $ 91,409 Yield Analysis Discount Rate 11.38 % 22.20 % 14.56 % 21,675 Transaction Price Recent Transaction 85.00 % 85.00 % 85.00 % Investments in other securities: Unsecured debt $ 1,859 Income Approach Discount Rate 14.50 % 14.50 % 14.50 % 610 Market Approach EBITDA Multiple 9.00x 9.00x 9.00x Preferred equity 17,606 Income Approach Discount Rate 12.20 % 15.40 % 13.43 % 1,275 Market Approach Revenue Multiple 7.50x 7.50x 7.50x Common equity 16,660 Market Approach EBITDA Multiple 8.10x 18.70x 13.47x 1,092 Market Approach Revenue Multiple 8.80x 8.80x 8.80x Total investments in other securities $ 39,102 Total Investments $ 2,924,839 December 31, 2022 Range Fair Valuation Technique Unobservable Low High Weighted Investments in first lien debt $ 2,624,749 Yield Analysis Discount Rate 9.20 % 20.44 % 11.27 % 44,000 Transaction Price Recent Transaction 100.00 % 100.00 % 100.00 % Investments in second lien debt $ 122,891 Yield Analysis Discount Rate 12.14 % 17.20 % 14.24 % Investments in other securities Unsecured debt $ 1,826 Income Approach Discount Rate 16.60 % 16.60 % 16.60 % 372 Market Approach EBITDA Multiple 9.00x 9.00x 9.00x Preferred equity 16,076 Income Approach Discount Rate 12.20 % 15.69 % 13.62 % 963 Market Approach Revenue Multiple 8.78x 8.78x 8.78x Common equity 15,877 Market Approach EBITDA Multiple 8.10x 18.70x 13.25x 1,281 Market Approach Revenue Multiple 10.20x 10.20x 10.20x Total investments in other securities $ 36,395 Total Investments $ 2,828,035 |
Schedule of Carrying Values and Fair Values of Debt | The carrying value and fair value of the Company’s debt were as follows: June 30, 2023 December 31, 2022 Carrying Value Fair Value Carrying Value Fair Value BNP Funding Facility $ 370,000 $ 370,000 $ 400,000 $ 400,000 Truist Credit Facility 492,259 492,259 432,254 432,254 2027 Notes (1) 420,161 402,348 419,498 394,995 2025 Notes (1) 272,324 275,000 271,723 275,000 Total $ 1,554,744 $ 1,539,607 $ 1,523,475 $ 1,502,249 (1) As of June 30, 2023, the carrying value of the Company’s 2027 Notes and 2025 Notes were presented net of unamortized debt issuance costs of $4,065 and $2,676, and unamortized original issuance discount of $775 and $0, respectively. As of December 31, 2022, the carrying value of the Company’s 2027 Notes and 2025 Notes were presented net of unamortized debt issuance costs of $4,622 and $3,277, and unamortized original issuance discount of $881 and $0, respectively. |
Debt (Tables)
Debt (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Debt Disclosure [Abstract] | |
Schedule of Long-Term Debt Instruments | The summary information of the CIBC Subscription Facility is as follows: For the Three Months Ended For the Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Borrowing interest expense $ — $ 1,779 $ — $ 3,179 Facility unused commitment fees — 2 — 13 Amortization of deferred financing costs — 288 — 798 Total $ — $ 2,069 $ — $ 3,990 Weighted average interest rate (excluding unused fees and financing costs) — % 2.40 % — % 2.10 % Weighted average outstanding balance $ — $ 292,658 $ — $ 301,455 The summary information of the BNP Funding Facility is as follows: For the Three Months Ended For the Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Borrowing interest expense $ 7,053 $ 3,318 $ 13,958 $ 6,148 Facility unused commitment fees 146 66 246 81 Amortization of deferred financing costs 283 286 543 566 Total $ 7,482 $ 3,670 $ 14,747 $ 6,795 Weighted average interest rate (excluding unused fees and financing costs) 7.38 % 3.14 % 7.14 % 2.82 % Weighted average outstanding balance $ 377,912 $ 417,324 $ 388,895 $ 433,323 The summary information of the Truist Credit Facility is as follows: For the Three Months Ended For the Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Borrowing interest expense $ 8,651 $ 1,948 $ 16,474 $ 3,467 Facility unused commitment fees 651 666 1,190 1,305 Amortization of deferred financing costs 516 318 955 638 Total $ 9,818 $ 2,932 $ 18,619 $ 5,410 Weighted average interest rate (excluding unused fees and financing costs) 6.95 % 2.72 % 6.71 % 2.37 % Weighted average outstanding balance $ 492,235 $ 283,423 $ 488,543 $ 290,254 The summary information of 2027 Notes is as follows: For the Three Months Ended For the Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Borrowing interest expense $ 4,781 $ 4,781 $ 9,563 $ 7,438 Accretion of original issuance discount 53 54 106 82 Amortization of debt issuance costs 280 276 557 425 Total $ 5,114 $ 5,111 $ 10,226 $ 7,945 Stated interest rate 4.50 % 4.50 % 4.50 % 4.50 % The summary information of 2025 Notes is as follows: For the Three Months Ended For the Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Borrowing interest expense $ 5,191 $ — $ 10,381 $ — Amortization of debt issuance costs 302 — 601 — Total $ 5,493 $ — $ 10,982 $ — Stated interest rate 7.55 % — % 7.55 % — % The Company’s debt obligations were as follows. Unused debt capacity of credit facilities were subject to certain borrowing base restrictions: June 30, 2023 December 31, 2022 Aggregate Principal Committed Outstanding Principal Unused Portion Aggregate Principal Committed Outstanding Principal Unused Portion CIBC Subscription Facility (1) $ — $ — $ — $ — $ — $ — BNP Funding Facility 600,000 370,000 230,000 600,000 400,000 200,000 Truist Credit Facility (2)(3) 1,120,000 492,259 626,491 975,000 432,254 538,521 2027 Notes (4) 425,000 425,000 — 425,000 425,000 — 2025 Notes (4) 275,000 275,000 — 275,000 275,000 — Total $ 2,420,000 $ 1,562,259 $ 856,491 $ 2,275,000 $ 1,532,254 $ 738,521 (1) The CIBC Subscription Facility matured on December 31, 2022 and was fully paid off. (2) As of June 30, 2023 and December 31, 2022, a letter of credit of $1,250 and $4,225, respectively, was outstanding, which reduced the unused availability under the Truist Credit Facility by the same amount. (3) Under the Truist Credit Facility, the Company may borrow in U.S. dollars or certain other permitted currencies. As of June 30, 2023, the Company had borrowings denominated in Euros (EUR) of 238. |
Net Assets (Tables)
Net Assets (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Equity [Abstract] | |
Schedule of Distributable Earnings | The following table shows the components of net distributable earnings (accumulated losses) as shown on the Consolidated Statements of Assets and Liabilities: As of June 30, 2023 December 31, 2022 Net distributable earnings (accumulated losses), beginning of period $ (54,779) $ 15,782 Net investment income/(loss) after taxes 92,017 128,010 Accumulated net realized gain (loss) 122 537 Net unrealized appreciation (depreciation) 8,080 (80,005) Dividends declared (76,112) (119,437) Tax reclassification of stockholders’ equity — 334 Net distributable earnings (accumulated losses), end of period $ (30,672) $ (54,779) |
Schedule of Shares Issued | The following table summarizes the total shares issued and proceeds received from the Company’s capital drawdowns delivered pursuant to the Subscription Agreements for the six months ended June 30, 2022: Share Issuance Date Shares Issued Amount May 16, 2022 3,548,132 $ 74,866 Total 3,548,132 $ 74,866 The following table summarizes the DRIP shares issued to stockholders who have “opted in” to the DRIP for the six months ended June 30, 2023 and the value of such shares as of the payment dates: Payment Date DRIP Shares Issued DRIP Shares Value January 25, 2023 445,235 $ 8,891 April 25, 2023 482,721 9,698 Total 927,956 $ 18,589 The following table summarizes the DRIP shares issued to stockholders who have “opted in” to the DRIP for the six months ended June 30, 2022 and the value of such shares as of the payment dates: Payment Date DRIP Shares Issued DRIP Shares Value January 25, 2022 358,891 $ 7,540 April 27, 2022 332,212 6,964 Total 691,103 $ 14,504 |
Schedule of Dividends Declared and Payable | The following table summarizes the Company’s distributions declared and payable for the six months ended June 30, 2023: Date Declared Record Date Payment Date Per Share Amount Total Amount March 28, 2023 March 28, 2023 April 25, 2023 $ 0.50 $ 35,377 June 27, 2023 June 27, 2023 July 25, 2023 0.57 40,735 (1) Total Distributions $ 1.07 $ 76,112 (1) Includes a supplemental distribution of $0.07. The following table summarizes the Company’s distributions declared and payable for the six months ended June 30, 2022: Date Declared Record Date Payment Date Per Share Amount Total Amount March 25, 2022 March 25, 2022 April 27, 2022 $ 0.48 $ 27,455 June 24, 2022 June 24, 2022 July 27, 2022 0.47 28,601 Total Distributions $ 0.95 $ 56,056 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 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 share: For the Three Months Ended For the Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Numerator—net increase/(decrease) in net assets resulting from operations $ 56,442 $ (3,263) $ 100,219 $ 18,983 Denominator—weighted average shares outstanding 71,337,323 59,227,774 71,101,563 58,170,368 Basic and diluted earnings (loss) per share $ 0.79 $ (0.06) $ 1.41 $ 0.33 |
Consolidated Financial Highli_2
Consolidated Financial Highlights (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Investment Company [Abstract] | |
Schedule of Financial Highlights | The following are the financial highlights (dollar amounts in thousands, except per share amounts): For the Six Months Ended June 30, 2023 June 30, 2022 Per Share Data: (1) Net asset value, beginning of period $ 19.81 $ 20.91 Net investment income (loss) 1.29 0.96 Net unrealized and realized gain (loss) (2) 0.12 (0.61) Net increase (decrease) in net assets resulting from operations 1.41 0.35 Dividends declared (1.07) (0.95) Issuance of common stock — 0.01 Total increase (decrease) in net assets 0.34 (0.59) Net asset value, end of period $ 20.15 $ 20.32 Shares outstanding, end of period 71,464,634 61,077,262 Total return based on net asset value (3) 7.17 % 1.69 % Ratio/Supplemental Data (all amounts in thousands except ratios and shares): Net assets, end of period $ 1,440,001 $ 1,240,884 Weighted average shares outstanding 71,101,563 58,170,368 Ratio of net expenses to average net assets (4) 9.91 % 5.58 % Ratio of expenses before waivers to average net assets (4) 11.47 % 7.14 % Ratio of net investment income to average net assets (4) 14.29 % 9.95 % Ratio of total contributed capital to total committed capital, end of period 86.48 % 75.95 % Asset coverage ratio 192.17 % 183.62 % Portfolio turnover rate 4.33 % 9.71 % (1) The per share data was derived by using the weighted average shares outstanding during the period. (2) For the six months ended June 30, 2023 and June 30, 2022, the amount shown does not correspond with the aggregate amount for the period as it includes the effect of the timing of capital transactions. (3) Total return (not annualized) is calculated assuming a purchase of Common Stock at the opening of the first day of the period and a sale on the closing of the last business day of the period. Dividends and distributions, if any, are assumed for purposes of this calculation, to be reinvested at prices obtained under the Company’s DRIP. (4) Amounts are annualized except for incentive fees, and expense support amounts relating to organization and offering costs. |
Organization (Details)
Organization (Details) - $ / shares | Jun. 30, 2023 | Dec. 31, 2022 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Nov. 25, 2019 | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2019 | |
Related Party Transaction [Line Items] | |||||||
Management fees, net of waiver | $ 1,862 | $ 1,634 | $ 3,688 | $ 3,179 | |||
Management fees payable | 1,862 | 1,862 | $ 1,783 | ||||
Income based incentive fees | 10,138 | 5,879 | 19,519 | 11,345 | |||
Reversal of capital gains incentive fees | 0 | 1,694 | 0 | 2,441 | |||
Income based incentive fees payable | 10,138 | 10,138 | 8,118 | ||||
Capital gains based incentive fees payable | 0 | 0 | 0 | ||||
Administrative service fees | 60 | 54 | 114 | 70 | |||
Payable to affiliates | $ 2,086 | ||||||
Threshold for waiver amount | $ 1,000 | ||||||
Threshold for waiver percentage | 0.10% | ||||||
Expense support | 0 | $ 0 | $ 0 | $ (39) | |||
MS Credit Partners Holdings | Morgan Stanley Direct Lending Fund | |||||||
Related Party Transaction [Line Items] | |||||||
Ownership percentage | 11.80% | 11.90% | |||||
MS Credit Partners Holdings | |||||||
Related Party Transaction [Line Items] | |||||||
Unfunded commitments | $ 200,000 | ||||||
Related Party | |||||||
Related Party Transaction [Line Items] | |||||||
Base management fee rate | 1% | ||||||
Threshold minimum rate for waived portion | 0.25% | ||||||
Related Party | 2027 Notes | |||||||
Related Party Transaction [Line Items] | |||||||
Related party fees | $ 213 | ||||||
Related Party | 2025 Notes | |||||||
Related Party Transaction [Line Items] | |||||||
Related party fees | $ 138 | ||||||
Related Party | Quarterly hurdle rate | |||||||
Related Party Transaction [Line Items] | |||||||
Incentive rate | 1.50% | ||||||
Related Party | Annualized hurdle rate | |||||||
Related Party Transaction [Line Items] | |||||||
Incentive rate | 6% | ||||||
Related Party | Incentive Fee Rate Pre Incentive Fee Net Investment Income Below Catch Up Threshold | |||||||
Related Party Transaction [Line Items] | |||||||
Incentive rate | 100% | ||||||
Related Party | Incentive Fee Rate Quarterly Catch Up Threshold | |||||||
Related Party Transaction [Line Items] | |||||||
Incentive rate | 1.8182% | ||||||
Related Party | Incentive Fee Rate Annualized Catch Up Threshold | |||||||
Related Party Transaction [Line Items] | |||||||
Incentive rate | 7.2728% | ||||||
Related Party | Incentive Fee Rate Pre Incentive Fee Net Investment Income Exceeds Catch Up Threshold | |||||||
Related Party Transaction [Line Items] | |||||||
Incentive rate | 17.50% | ||||||
Related Party | Incentive Fee Rate Realized Capital Gains | |||||||
Related Party Transaction [Line Items] | |||||||
Incentive rate | 17.50% | ||||||
Related Party | Investment Advisory Agreement | |||||||
Related Party Transaction [Line Items] | |||||||
Initial term | 2 years | ||||||
Related Party | Administration Agreement | |||||||
Related Party Transaction [Line Items] | |||||||
Payable to affiliates | $ 224 | $ 224 | $ 110 |
Investments (Details)
Investments (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2023 | Dec. 31, 2022 | ||||
Schedule of Investments [Line Items] | |||||
Cost | $ 3,041,700 | [1],[2],[3] | $ 2,939,646 | [4],[5],[6] | |
Fair Value | $ 2,983,727 | [2],[3] | $ 2,873,588 | [5],[6] | |
Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 100% | 100% | |||
Australia | |||||
Schedule of Investments [Line Items] | |||||
Cost | $ 10,164 | $ 10,187 | |||
Fair Value | $ 10,057 | $ 9,870 | |||
Australia | Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 0.30% | 0.30% | |||
Canada | |||||
Schedule of Investments [Line Items] | |||||
Cost | $ 98,170 | $ 108,820 | |||
Fair Value | $ 96,383 | $ 105,764 | |||
Canada | Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 3.20% | 3.70% | |||
United Kingdom | |||||
Schedule of Investments [Line Items] | |||||
Cost | $ 11,555 | $ 11,157 | |||
Fair Value | $ 11,683 | $ 11,157 | |||
United Kingdom | Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 0.40% | 0.40% | |||
United States | |||||
Schedule of Investments [Line Items] | |||||
Cost | $ 2,921,811 | $ 2,809,482 | |||
Fair Value | $ 2,865,604 | $ 2,746,797 | |||
United States | Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 96.10% | 95.60% | |||
Aerospace & Defense | Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 1.80% | 1.80% | |||
Air Freight & Logistics | Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 1.10% | 1.10% | |||
Automobile Components | Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 3.70% | 3.80% | |||
Automobiles | Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 5.10% | 5.10% | |||
Biotechnology | Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 0.50% | 0.50% | |||
Chemicals | Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 0.70% | 0.60% | |||
Commercial Services & Supplies | Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 10.60% | 11.20% | |||
Construction & Engineering | Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 1.50% | 1.30% | |||
Containers & Packaging | Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 1.50% | 1.60% | |||
Distributors | Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 2.90% | 4.20% | |||
Diversified Consumer Services | Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 3.40% | 3% | |||
Electronic Equipment, Instruments & Components | Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 1.60% | 1% | |||
Energy Equipment & Services | Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 0.50% | 0.50% | |||
Financial Services | Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 0.60% | 0.70% | |||
Food Products | Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 2.70% | 2.50% | |||
Health Care Equipment & Supplies | Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 0.40% | 0.30% | |||
Health Care Providers & Services | Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 3.80% | 3.40% | |||
Health Care Technology | Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 0.80% | 0.70% | |||
Industrial Conglomerates | Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 1.30% | 0.20% | |||
Insurance Services | Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 15.50% | 15.70% | |||
Interactive Media & Services | Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 3.40% | 3.50% | |||
IT Services | Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 9.20% | 9.60% | |||
Leisure Products | Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 0.70% | 0.80% | |||
Machinery | Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 2.70% | 3% | |||
Multi-Utilities | Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 0.60% | 0.60% | |||
Oil, Gas & Consumable Fuels | Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 0% | 0% | |||
Pharmaceuticals | Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 0.40% | 0.40% | |||
Professional Services | Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 3.30% | 3.20% | |||
Real Estate Management & Development | Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 5.40% | 5.40% | |||
Software | Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 14.30% | 14.30% | |||
First Lien Debt | |||||
Schedule of Investments [Line Items] | |||||
Cost | $ 2,845,602 | [1] | $ 2,753,620 | [4] | |
Fair Value | $ 2,798,179 | $ 2,694,111 | |||
First Lien Debt | Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 93.80% | 93.80% | |||
First Lien Debt | Aerospace & Defense | |||||
Schedule of Investments [Line Items] | |||||
Cost | $ 52,329 | [1] | $ 52,520 | [4] | |
Fair Value | 51,925 | 51,531 | |||
First Lien Debt | Air Freight & Logistics | |||||
Schedule of Investments [Line Items] | |||||
Cost | 29,463 | [1] | 28,736 | [4] | |
Fair Value | 29,005 | 27,943 | |||
First Lien Debt | Automobile Components | |||||
Schedule of Investments [Line Items] | |||||
Cost | 86,943 | [1] | 86,480 | [4] | |
Fair Value | 84,817 | 83,574 | |||
First Lien Debt | Automobiles | |||||
Schedule of Investments [Line Items] | |||||
Cost | 153,783 | [1] | 150,144 | [4] | |
Fair Value | 152,201 | 146,413 | |||
First Lien Debt | Biotechnology | |||||
Schedule of Investments [Line Items] | |||||
Cost | 14,767 | [1] | 14,830 | [4] | |
Fair Value | 14,588 | 14,407 | |||
First Lien Debt | Chemicals | |||||
Schedule of Investments [Line Items] | |||||
Cost | 20,944 | [1] | 18,797 | [4] | |
Fair Value | 20,517 | 18,066 | |||
First Lien Debt | Commercial Services & Supplies | |||||
Schedule of Investments [Line Items] | |||||
Cost | 316,205 | [1] | 325,020 | [4] | |
Fair Value | 314,538 | 319,508 | |||
First Lien Debt | Construction & Engineering | |||||
Schedule of Investments [Line Items] | |||||
Cost | 44,963 | [1] | 37,932 | [4] | |
Fair Value | 44,243 | 36,734 | |||
First Lien Debt | Containers & Packaging | |||||
Schedule of Investments [Line Items] | |||||
Cost | 43,769 | [1] | 43,852 | [4] | |
Fair Value | 43,275 | 42,522 | |||
First Lien Debt | Distributors | |||||
Schedule of Investments [Line Items] | |||||
Cost | 89,630 | [1] | 122,968 | [4] | |
Fair Value | 86,380 | 120,982 | |||
First Lien Debt | Diversified Consumer Services | |||||
Schedule of Investments [Line Items] | |||||
Cost | 104,157 | [1] | 88,142 | [4] | |
Fair Value | 102,188 | 87,147 | |||
First Lien Debt | Electronic Equipment, Instruments & Components | |||||
Schedule of Investments [Line Items] | |||||
Cost | 25,879 | [1] | 13,448 | [4] | |
Fair Value | 25,750 | 12,892 | |||
First Lien Debt | Financial Services | |||||
Schedule of Investments [Line Items] | |||||
Cost | 17,242 | [1] | 19,820 | [4] | |
Fair Value | 17,220 | 19,586 | |||
First Lien Debt | Food Products | |||||
Schedule of Investments [Line Items] | |||||
Cost | 79,201 | [1] | 72,622 | [4] | |
Fair Value | 78,128 | 70,996 | |||
First Lien Debt | Health Care Equipment & Supplies | |||||
Schedule of Investments [Line Items] | |||||
Cost | [1] | 13,051 | |||
Fair Value | 12,937 | ||||
First Lien Debt | Health Care Providers & Services | |||||
Schedule of Investments [Line Items] | |||||
Cost | 105,535 | [1] | 90,686 | [4] | |
Fair Value | 104,237 | 88,460 | |||
First Lien Debt | Health Care Technology | |||||
Schedule of Investments [Line Items] | |||||
Cost | 22,206 | [1] | 21,467 | [4] | |
Fair Value | 22,378 | 21,148 | |||
First Lien Debt | Industrial Conglomerates | |||||
Schedule of Investments [Line Items] | |||||
Cost | 33,671 | [1] | 1,666 | [4] | |
Fair Value | 33,980 | 1,612 | |||
First Lien Debt | Insurance Services | |||||
Schedule of Investments [Line Items] | |||||
Cost | 465,748 | [1] | 455,293 | [4] | |
Fair Value | 456,110 | 446,804 | |||
First Lien Debt | Interactive Media & Services | |||||
Schedule of Investments [Line Items] | |||||
Cost | 104,495 | [1] | 103,429 | [4] | |
Fair Value | 101,521 | 101,077 | |||
First Lien Debt | IT Services | |||||
Schedule of Investments [Line Items] | |||||
Cost | 231,685 | [1] | 230,561 | [4] | |
Fair Value | 221,164 | 223,366 | |||
First Lien Debt | Leisure Products | |||||
Schedule of Investments [Line Items] | |||||
Cost | 21,639 | [1] | 21,726 | [4] | |
Fair Value | 20,789 | 21,557 | |||
First Lien Debt | Machinery | |||||
Schedule of Investments [Line Items] | |||||
Cost | 82,573 | [1] | 88,999 | [4] | |
Fair Value | 80,745 | 85,464 | |||
First Lien Debt | Multi-Utilities | |||||
Schedule of Investments [Line Items] | |||||
Cost | 18,623 | [1] | 16,427 | [4] | |
Fair Value | 18,483 | 16,228 | |||
First Lien Debt | Oil, Gas & Consumable Fuels | |||||
Schedule of Investments [Line Items] | |||||
Cost | [4] | 399 | |||
Fair Value | 390 | ||||
First Lien Debt | Pharmaceuticals | |||||
Schedule of Investments [Line Items] | |||||
Cost | 11,555 | [1] | 11,157 | [4] | |
Fair Value | 11,683 | 11,157 | |||
First Lien Debt | Professional Services | |||||
Schedule of Investments [Line Items] | |||||
Cost | 97,387 | [1] | 89,714 | [4] | |
Fair Value | 97,353 | 88,770 | |||
First Lien Debt | Real Estate Management & Development | |||||
Schedule of Investments [Line Items] | |||||
Cost | 161,092 | [1] | 155,654 | [4] | |
Fair Value | 159,636 | 152,029 | |||
First Lien Debt | Software | |||||
Schedule of Investments [Line Items] | |||||
Cost | 397,067 | [1] | 381,883 | [4] | |
Fair Value | 392,388 | 374,792 | |||
Second Lien Debt | |||||
Schedule of Investments [Line Items] | |||||
Cost | 145,602 | [1] | 136,620 | [4] | |
Fair Value | $ 131,741 | $ 128,350 | |||
Second Lien Debt | Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 4.40% | 4.50% | |||
Second Lien Debt | Electronic Equipment, Instruments & Components | |||||
Schedule of Investments [Line Items] | |||||
Cost | [4] | $ 16,939 | |||
Fair Value | 16,194 | ||||
Second Lien Debt | Health Care Providers & Services | |||||
Schedule of Investments [Line Items] | |||||
Cost | $ 5,412 | [1] | 5,318 | [4] | |
Fair Value | 5,293 | 4,946 | |||
Second Lien Debt | IT Services | |||||
Schedule of Investments [Line Items] | |||||
Cost | 40,053 | [1] | 40,016 | [4] | |
Fair Value | 35,657 | 37,735 | |||
Second Lien Debt | Software | |||||
Schedule of Investments [Line Items] | |||||
Cost | 23,790 | [1] | 23,770 | [4] | |
Fair Value | 20,657 | 22,341 | |||
Other Securities | |||||
Schedule of Investments [Line Items] | |||||
Cost | 50,496 | [1] | 49,406 | [4] | |
Fair Value | $ 53,807 | $ 51,127 | |||
Other Securities | Investment Owned at Fair Value | Investment Type Concentration Risk | |||||
Schedule of Investments [Line Items] | |||||
% of Total Investments at Fair Value | 1.80% | 1.70% | |||
[1]The cost represents the original cost adjusted for the amortization of discounts and premiums, as applicable, on debt investments using the effective interest method.[2]Unless otherwise indicated, issuers of debt and equity investments held by the Company (where such term “Company” shall include the Company’s consolidated subsidiaries for purposes of this Consolidated Schedule of Investments) are denominated in dollars. All debt investments are income producing unless otherwise indicated. All equity investments are non-income producing unless otherwise noted. Certain portfolio company investments are subject to contractual restrictions on sales. Under the Investment Company Act of 1940, as amended (together with the rules and regulations promulgated thereunder, the “1940 Act”), the Company would be deemed to “control” a portfolio company if the Company owned more than 25% of its outstanding voting securities and/or held the power to exercise control over the management or policies of the portfolio company. As of June 30, 2023, the Company does not “control” any of these portfolio companies. Under the 1940 Act, the Company would be deemed an “affiliated person” of a portfolio company if the Company owns 5% or more of the portfolio company’s outstanding voting securities. As of June 30, 2023, the Company is not an “affiliated person” of any of its portfolio companies.[3]Unless otherwise indicated, the Company’s investments are pledged as collateral supporting the amounts outstanding under the Truist Credit Facility (as defined below). See Note 6 “Debt”.[4]The cost represents the original cost adjusted for the amortization of discounts and premiums, as applicable, on debt investments using the effective interest method.[5]Unless otherwise indicated, issuers of debt and equity investments held by the Company are denominated in dollars. All debt investments are income producing unless otherwise indicated. All equity investments are non-income producing unless otherwise noted. Certain portfolio company investments are subject to contractual restrictions on sales. Under the 1940 Act, the Company would be deemed to “control” a portfolio company if the Company owned more than 25% of its outstanding voting securities and/or held the power to exercise control over the management or policies of the portfolio company. As of December 31, 2022 the Company does not “control” any of these portfolio companies. Under the 1940 Act, the Company would be deemed an “affiliated person” of a portfolio company if the Company owns 5% or more of the portfolio company’s outstanding voting securities. As of December 31, 2022, the Company is not an “affiliated person” of any of its portfolio companies.[6]Unless otherwise indicated, the Company’s investments are pledged as collateral supporting the amounts outstanding under the Truist Credit Facility. See Note 6 “Debt”. |
Fair Value Measurements - Fair
Fair Value Measurements - Fair Value Levels (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | $ 2,983,727 | [1],[2] | $ 2,873,588 | [3],[4] |
Level 1 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | 0 | 0 | ||
Level 2 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | 44,183 | 30,821 | ||
Level 3 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | 2,924,839 | 2,828,035 | ||
Level 1, Level 2, and Level 3 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | 2,969,022 | 2,858,856 | ||
Net Asset Value | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | 14,705 | 14,732 | ||
First Lien Debt | Level 1 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | 0 | 0 | ||
First Lien Debt | Level 2 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | 25,526 | 25,362 | ||
First Lien Debt | Level 3 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | 2,772,653 | 2,668,749 | ||
First Lien Debt | Level 1, Level 2, and Level 3 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | 2,798,179 | 2,694,111 | ||
Second Lien Debt | Level 1 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | 0 | 0 | ||
Second Lien Debt | Level 2 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | 18,657 | 5,459 | ||
Second Lien Debt | Level 3 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | 113,084 | 122,891 | ||
Second Lien Debt | Level 1, Level 2, and Level 3 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | 131,741 | 128,350 | ||
Other Securities | Level 1 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | 0 | 0 | ||
Other Securities | Level 2 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | 0 | 0 | ||
Other Securities | Level 3 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | 39,102 | 36,395 | ||
Other Securities | Level 1, Level 2, and Level 3 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | $ 39,102 | $ 36,395 | ||
[1]Unless otherwise indicated, issuers of debt and equity investments held by the Company (where such term “Company” shall include the Company’s consolidated subsidiaries for purposes of this Consolidated Schedule of Investments) are denominated in dollars. All debt investments are income producing unless otherwise indicated. All equity investments are non-income producing unless otherwise noted. Certain portfolio company investments are subject to contractual restrictions on sales. Under the Investment Company Act of 1940, as amended (together with the rules and regulations promulgated thereunder, the “1940 Act”), the Company would be deemed to “control” a portfolio company if the Company owned more than 25% of its outstanding voting securities and/or held the power to exercise control over the management or policies of the portfolio company. As of June 30, 2023, the Company does not “control” any of these portfolio companies. Under the 1940 Act, the Company would be deemed an “affiliated person” of a portfolio company if the Company owns 5% or more of the portfolio company’s outstanding voting securities. As of June 30, 2023, the Company is not an “affiliated person” of any of its portfolio companies.[2]Unless otherwise indicated, the Company’s investments are pledged as collateral supporting the amounts outstanding under the Truist Credit Facility (as defined below). See Note 6 “Debt”.[3]Unless otherwise indicated, issuers of debt and equity investments held by the Company are denominated in dollars. All debt investments are income producing unless otherwise indicated. All equity investments are non-income producing unless otherwise noted. Certain portfolio company investments are subject to contractual restrictions on sales. Under the 1940 Act, the Company would be deemed to “control” a portfolio company if the Company owned more than 25% of its outstanding voting securities and/or held the power to exercise control over the management or policies of the portfolio company. As of December 31, 2022 the Company does not “control” any of these portfolio companies. Under the 1940 Act, the Company would be deemed an “affiliated person” of a portfolio company if the Company owns 5% or more of the portfolio company’s outstanding voting securities. As of December 31, 2022, the Company is not an “affiliated person” of any of its portfolio companies.[4]Unless otherwise indicated, the Company’s investments are pledged as collateral supporting the amounts outstanding under the Truist Credit Facility. See Note 6 “Debt”. |
Fair Value Measurements - Level
Fair Value Measurements - Level III Rollforward (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Fair value, beginning of period | $ 2,866,154 | $ 2,494,963 | $ 2,828,035 | $ 2,356,559 |
Purchases of investments | 82,785 | 392,619 | 221,264 | 570,325 |
Proceeds from principal repayments and sales of investments | (37,683) | (216,608) | (126,765) | (236,922) |
Accretion of discount/amortization of premium | 2,587 | 3,319 | 5,089 | 5,294 |
Payment-in-kind | 1,057 | 801 | 2,060 | 1,171 |
Transfers into/(out) of Level 3 | 0 | 0 | (16,189) | (17,500) |
Fair value, end of period | 2,924,839 | 2,642,354 | 2,924,839 | 2,642,354 |
Net change in unrealized appreciation (depreciation) from investments still held | 10,101 | (32,030) | 10,831 | (36,665) |
Net change in unrealized appreciation (depreciation) | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Total gains or losses included in earnings | 9,939 | (33,205) | 11,223 | (37,068) |
Net realized gains (losses) | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Total gains or losses included in earnings | 0 | 465 | 122 | 495 |
First Lien Debt | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Fair value, beginning of period | 2,713,691 | 2,352,558 | 2,668,749 | 2,207,036 |
Purchases of investments | 82,682 | 384,074 | 212,587 | 551,300 |
Proceeds from principal repayments and sales of investments | (37,683) | (216,608) | (126,765) | (236,922) |
Accretion of discount/amortization of premium | 2,516 | 3,236 | 4,949 | 5,134 |
Payment-in-kind | 425 | 295 | 806 | 515 |
Transfers into/(out) of Level 3 | 0 | 0 | 0 | 0 |
Fair value, end of period | 2,772,653 | 2,492,968 | 2,772,653 | 2,492,968 |
Net change in unrealized appreciation (depreciation) from investments still held | 11,184 | (29,896) | 11,813 | (34,226) |
First Lien Debt | Net change in unrealized appreciation (depreciation) | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Total gains or losses included in earnings | 11,022 | (31,071) | 12,205 | (34,609) |
First Lien Debt | Net realized gains (losses) | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Total gains or losses included in earnings | 0 | 484 | 122 | 514 |
Second Lien Debt | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Fair value, beginning of period | 115,410 | 113,929 | 122,891 | 121,550 |
Purchases of investments | 86 | 4,753 | 8,586 | 15,233 |
Proceeds from principal repayments and sales of investments | 0 | 0 | 0 | 0 |
Accretion of discount/amortization of premium | 69 | 83 | 136 | 160 |
Payment-in-kind | 126 | 125 | 260 | 259 |
Transfers into/(out) of Level 3 | 0 | 0 | (16,189) | (17,500) |
Fair value, end of period | 113,084 | 116,488 | 113,084 | 116,488 |
Net change in unrealized appreciation (depreciation) from investments still held | (2,607) | (2,383) | (2,600) | (3,175) |
Second Lien Debt | Net change in unrealized appreciation (depreciation) | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Total gains or losses included in earnings | (2,607) | (2,383) | (2,600) | (3,195) |
Second Lien Debt | Net realized gains (losses) | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Total gains or losses included in earnings | 0 | (19) | 0 | (19) |
Other Securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Fair value, beginning of period | 37,053 | 28,476 | 36,395 | 27,973 |
Purchases of investments | 17 | 3,792 | 91 | 3,792 |
Proceeds from principal repayments and sales of investments | 0 | 0 | 0 | 0 |
Accretion of discount/amortization of premium | 2 | 0 | 4 | 0 |
Payment-in-kind | 506 | 381 | 994 | 397 |
Transfers into/(out) of Level 3 | 0 | 0 | 0 | 0 |
Fair value, end of period | 39,102 | 32,898 | 39,102 | 32,898 |
Net change in unrealized appreciation (depreciation) from investments still held | 1,524 | 249 | 1,618 | 736 |
Other Securities | Net change in unrealized appreciation (depreciation) | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Total gains or losses included in earnings | 1,524 | 249 | 1,618 | 736 |
Other Securities | Net realized gains (losses) | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Total gains or losses included in earnings | $ 0 | $ 0 | $ 0 | $ 0 |
Fair Value Measurements - Unobs
Fair Value Measurements - Unobservable Inputs (Details) $ in Thousands | Jun. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Fair Value | $ 2,983,727 | [1],[2] | $ 2,873,588 | [3],[4] |
Level 3 | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Fair Value | 2,924,839 | 2,828,035 | ||
Level 3 | First Lien Debt | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Fair Value | 2,772,653 | 2,668,749 | ||
Level 3 | First Lien Debt | Yield Analysis | Discount Rate | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Fair Value | $ 2,447,275 | $ 2,624,749 | ||
Level 3 | First Lien Debt | Yield Analysis | Low | Discount Rate | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.0903 | 0.0920 | ||
Level 3 | First Lien Debt | Yield Analysis | High | Discount Rate | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.1895 | 0.2044 | ||
Level 3 | First Lien Debt | Yield Analysis | Weighted Average | Discount Rate | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.1152 | 0.1127 | ||
Level 3 | First Lien Debt | Transaction Price | Recent Transaction | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Fair Value | $ 325,378 | $ 44,000 | ||
Level 3 | First Lien Debt | Transaction Price | Low | Recent Transaction | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.9830 | 1 | ||
Level 3 | First Lien Debt | Transaction Price | High | Recent Transaction | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.9940 | 1 | ||
Level 3 | First Lien Debt | Transaction Price | Weighted Average | Recent Transaction | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.9913 | 1 | ||
Level 3 | Second Lien Debt | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Fair Value | $ 113,084 | $ 122,891 | ||
Level 3 | Second Lien Debt | Yield Analysis | Discount Rate | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Fair Value | $ 91,409 | $ 122,891 | ||
Level 3 | Second Lien Debt | Yield Analysis | Low | Discount Rate | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.1138 | 0.1214 | ||
Level 3 | Second Lien Debt | Yield Analysis | High | Discount Rate | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.2220 | 0.1720 | ||
Level 3 | Second Lien Debt | Yield Analysis | Weighted Average | Discount Rate | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.1456 | 0.1424 | ||
Level 3 | Second Lien Debt | Transaction Price | Recent Transaction | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Fair Value | $ 21,675 | |||
Level 3 | Second Lien Debt | Transaction Price | Low | Recent Transaction | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.8500 | |||
Level 3 | Second Lien Debt | Transaction Price | High | Recent Transaction | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.8500 | |||
Level 3 | Second Lien Debt | Transaction Price | Weighted Average | Recent Transaction | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.8500 | |||
Level 3 | Unsecured debt | Income Approach | Discount Rate | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Fair Value | $ 1,859 | $ 1,826 | ||
Level 3 | Unsecured debt | Income Approach | Low | Discount Rate | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.1450 | 0.1660 | ||
Level 3 | Unsecured debt | Income Approach | High | Discount Rate | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.1450 | 0.1660 | ||
Level 3 | Unsecured debt | Income Approach | Weighted Average | Discount Rate | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.1450 | 0.1660 | ||
Level 3 | Unsecured debt | Market Approach | EBITDA Multiple | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Fair Value | $ 610 | $ 372 | ||
Level 3 | Unsecured debt | Market Approach | Low | EBITDA Multiple | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 9 | 9 | ||
Level 3 | Unsecured debt | Market Approach | High | EBITDA Multiple | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 9 | 9 | ||
Level 3 | Unsecured debt | Market Approach | Weighted Average | EBITDA Multiple | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 9 | 9 | ||
Level 3 | Preferred equity | Income Approach | Discount Rate | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Fair Value | $ 17,606 | $ 16,076 | ||
Level 3 | Preferred equity | Income Approach | Low | Discount Rate | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.1220 | 0.1220 | ||
Level 3 | Preferred equity | Income Approach | High | Discount Rate | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.1540 | 0.1569 | ||
Level 3 | Preferred equity | Income Approach | Weighted Average | Discount Rate | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 0.1343 | 0.1362 | ||
Level 3 | Preferred equity | Market Approach | Revenue Multiple | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Fair Value | $ 1,275 | $ 963 | ||
Level 3 | Preferred equity | Market Approach | Low | Revenue Multiple | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 7.5 | 8.78 | ||
Level 3 | Preferred equity | Market Approach | High | Revenue Multiple | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 7.5 | 8.78 | ||
Level 3 | Preferred equity | Market Approach | Weighted Average | Revenue Multiple | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 7.5 | 8.78 | ||
Level 3 | Common equity | Market Approach | EBITDA Multiple | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Fair Value | $ 16,660 | $ 15,877 | ||
Level 3 | Common equity | Market Approach | Revenue Multiple | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Fair Value | $ 1,092 | $ 1,281 | ||
Level 3 | Common equity | Market Approach | Low | EBITDA Multiple | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 8.1 | 8.1 | ||
Level 3 | Common equity | Market Approach | Low | Revenue Multiple | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 8.8 | 10.2 | ||
Level 3 | Common equity | Market Approach | High | EBITDA Multiple | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 18.7 | 18.7 | ||
Level 3 | Common equity | Market Approach | High | Revenue Multiple | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 8.8 | 10.2 | ||
Level 3 | Common equity | Market Approach | Weighted Average | EBITDA Multiple | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 13.47 | 13.25 | ||
Level 3 | Common equity | Market Approach | Weighted Average | Revenue Multiple | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Measurement input | 8.8 | 10.2 | ||
Level 3 | Other Securities | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Fair Value | $ 39,102 | $ 36,395 | ||
[1]Unless otherwise indicated, issuers of debt and equity investments held by the Company (where such term “Company” shall include the Company’s consolidated subsidiaries for purposes of this Consolidated Schedule of Investments) are denominated in dollars. All debt investments are income producing unless otherwise indicated. All equity investments are non-income producing unless otherwise noted. Certain portfolio company investments are subject to contractual restrictions on sales. Under the Investment Company Act of 1940, as amended (together with the rules and regulations promulgated thereunder, the “1940 Act”), the Company would be deemed to “control” a portfolio company if the Company owned more than 25% of its outstanding voting securities and/or held the power to exercise control over the management or policies of the portfolio company. As of June 30, 2023, the Company does not “control” any of these portfolio companies. Under the 1940 Act, the Company would be deemed an “affiliated person” of a portfolio company if the Company owns 5% or more of the portfolio company’s outstanding voting securities. As of June 30, 2023, the Company is not an “affiliated person” of any of its portfolio companies.[2]Unless otherwise indicated, the Company’s investments are pledged as collateral supporting the amounts outstanding under the Truist Credit Facility (as defined below). See Note 6 “Debt”.[3]Unless otherwise indicated, issuers of debt and equity investments held by the Company are denominated in dollars. All debt investments are income producing unless otherwise indicated. All equity investments are non-income producing unless otherwise noted. Certain portfolio company investments are subject to contractual restrictions on sales. Under the 1940 Act, the Company would be deemed to “control” a portfolio company if the Company owned more than 25% of its outstanding voting securities and/or held the power to exercise control over the management or policies of the portfolio company. As of December 31, 2022 the Company does not “control” any of these portfolio companies. Under the 1940 Act, the Company would be deemed an “affiliated person” of a portfolio company if the Company owns 5% or more of the portfolio company’s outstanding voting securities. As of December 31, 2022, the Company is not an “affiliated person” of any of its portfolio companies.[4]Unless otherwise indicated, the Company’s investments are pledged as collateral supporting the amounts outstanding under the Truist Credit Facility. See Note 6 “Debt”. |
Fair Value Measurements - Narra
Fair Value Measurements - Narrative (Details) - Fair Value - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt | $ 1,539,607 | $ 1,502,249 |
Truist Credit Facility | Line of Credit | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt | 492,259 | $ 432,254 |
Truist Credit Facility | Level 2 | Line of Credit | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt | $ 402,348 |
Fair Value Measurements - Carry
Fair Value Measurements - Carrying Value and Fair Value of Debt (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
2027 Notes | Senior Notes | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Unamortized debt issuance costs | $ 4,065 | $ 4,622 |
Unamortized original issuance discount | 775 | 881 |
2025 Notes | Senior Notes | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Unamortized debt issuance costs | 2,676 | 3,277 |
Unamortized original issuance discount | 0 | 0 |
Carrying Value | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt | 1,554,744 | 1,523,475 |
Carrying Value | BNP Funding Facility | Line of Credit | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt | 370,000 | 400,000 |
Carrying Value | Truist Credit Facility | Line of Credit | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt | 492,259 | 432,254 |
Carrying Value | 2027 Notes | Senior Notes | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt | 420,161 | 419,498 |
Carrying Value | 2025 Notes | Senior Notes | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt | 272,324 | 271,723 |
Fair Value | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt | 1,539,607 | 1,502,249 |
Fair Value | BNP Funding Facility | Line of Credit | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt | 370,000 | 400,000 |
Fair Value | Truist Credit Facility | Line of Credit | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt | 492,259 | 432,254 |
Fair Value | 2027 Notes | Senior Notes | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt | 402,348 | 394,995 |
Fair Value | 2025 Notes | Senior Notes | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt | $ 275,000 | $ 275,000 |
Debt - Narrative (Details)
Debt - Narrative (Details) € in Thousands | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2023 USD ($) | Jun. 30, 2022 USD ($) | Jun. 30, 2023 USD ($) | Jun. 30, 2022 USD ($) | Jun. 30, 2023 EUR (€) | Jan. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Feb. 11, 2022 USD ($) | |
Debt Instrument [Line Items] | ||||||||
Outstanding amount | $ 1,562,259,000 | $ 1,562,259,000 | $ 1,532,254,000 | |||||
Available capacity | 856,491,000 | $ 856,491,000 | 738,521,000 | |||||
Unused fee percentage | 0.375% | |||||||
Aggregate principal amount | $ 2,420,000,000 | $ 2,420,000,000 | 2,275,000,000 | |||||
Weighted average interest rate (excluding unused fees and financing costs) | 6.47% | 3.30% | 6.35% | 2.77% | ||||
Weighted average debt | $ 1,570,147,000 | $ 1,418,405,000 | $ 1,577,438,000 | $ 1,450,032,000 | ||||
CIBC Substriction Facility | Line of Credit | ||||||||
Debt Instrument [Line Items] | ||||||||
Repayments for borrowings from lines of credit | $ 35,000,000 | $ 35,000,000 | ||||||
Outstanding amount | 0 | 0 | 0 | |||||
Available capacity | 0 | 0 | 0 | |||||
Aggregate principal amount | $ 0 | $ 0 | 0 | |||||
Weighted average interest rate (excluding unused fees and financing costs) | 0% | 2.40% | 0% | 2.10% | ||||
CIBC Substriction Facility | Base Rate | Line of Credit | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 1.65% | |||||||
CIBC Substriction Facility | Prime Rate | Line of Credit | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 0.65% | |||||||
BNP Funding Facility | Line of Credit | ||||||||
Debt Instrument [Line Items] | ||||||||
Maximum borrowing capacity | $ 600,000,000 | $ 600,000,000 | ||||||
Repayments for borrowings from lines of credit | 30,000,000 | $ 43,000,000 | 30,000,000 | $ 71,000,000 | ||||
Borrowings from lines of credit | 0 | $ 13,000,000 | 0 | $ 13,000,000 | ||||
Outstanding amount | 370,000,000 | 370,000,000 | 400,000,000 | |||||
Available capacity | 230,000,000 | 230,000,000 | 200,000,000 | |||||
Aggregate principal amount | $ 600,000,000 | $ 600,000,000 | 600,000,000 | |||||
Weighted average interest rate (excluding unused fees and financing costs) | 7.38% | 3.14% | 7.14% | 2.82% | ||||
BNP Funding Facility | Base Rate | Line of Credit | Low | 1-month Period | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 1.95% | |||||||
BNP Funding Facility | Base Rate | Line of Credit | Low | 3-month Period | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 2.45% | |||||||
BNP Funding Facility | Base Rate | Line of Credit | High | 1-month Period | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 2.75% | |||||||
BNP Funding Facility | Base Rate | Line of Credit | High | 3-month Period | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 3.25% | |||||||
Truist Credit Facility | Line of Credit | ||||||||
Debt Instrument [Line Items] | ||||||||
Maximum borrowing capacity | $ 1,500,000,000 | $ 1,500,000,000 | $ 1,120,000,000 | |||||
Repayments for borrowings from lines of credit | 0 | $ 136,000,000 | 0 | $ 551,000,000 | ||||
Borrowings from lines of credit | 0 | $ 321,500,000 | 60,000,000 | $ 452,000,000 | ||||
Outstanding amount | 492,259,000 | 492,259,000 | 432,254,000 | |||||
Available capacity | 626,491,000 | 626,491,000 | 538,521,000 | |||||
Aggregate principal amount | $ 1,120,000,000 | $ 1,120,000,000 | € 238 | 975,000,000 | ||||
Weighted average interest rate (excluding unused fees and financing costs) | 6.95% | 2.72% | 6.71% | 2.37% | ||||
Truist Credit Facility | Federal Resere Bank of New York Rate | Line of Credit | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 0.50% | |||||||
Truist Credit Facility | Eurodollar | Line of Credit | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 1.875% | |||||||
Truist Credit Facility | Secured Overnight Financing Rate (SOFR) | Line of Credit | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 1% | |||||||
2027 Notes | Senior Notes | ||||||||
Debt Instrument [Line Items] | ||||||||
Outstanding amount | $ 425,000,000 | $ 425,000,000 | 425,000,000 | |||||
Available capacity | 0 | 0 | 0 | |||||
Aggregate principal amount | $ 425,000,000 | $ 425,000,000 | 425,000,000 | $ 425,000,000 | ||||
Stated interest rate | 4.50% | 4.50% | 4.50% | 4.50% | 4.50% | 4.50% | ||
Percentage of holders representing outstanding principal | 85.87% | |||||||
2025 Notes | Senior Notes | ||||||||
Debt Instrument [Line Items] | ||||||||
Outstanding amount | $ 275,000,000 | $ 275,000,000 | 275,000,000 | |||||
Available capacity | 0 | 0 | 0 | |||||
Aggregate principal amount | $ 275,000,000 | $ 275,000,000 | $ 275,000,000 | $ 275,000,000 | ||||
Stated interest rate | 7.55% | 0% | 7.55% | 0% | 7.55% | 7.55% |
Debt - Schedule of Long-Term De
Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Feb. 11, 2022 | |
Debt Instrument [Line Items] | |||||
Amortization of deferred financing costs | $ 1,498 | $ 2,001 | |||
Total | $ 27,907 | $ 13,781 | $ 54,574 | $ 24,130 | |
Weighted average interest rate (excluding unused fees and financing costs) | 6.47% | 3.30% | 6.35% | 2.77% | |
CIBC Substriction Facility | Line of Credit | |||||
Debt Instrument [Line Items] | |||||
Borrowing interest expense | $ 0 | $ 1,779 | $ 0 | $ 3,179 | |
Facility unused commitment fees | 0 | 2 | 0 | 13 | |
Amortization of deferred financing costs | 0 | 288 | 0 | 798 | |
Total | $ 0 | $ 2,069 | $ 0 | $ 3,990 | |
Weighted average interest rate (excluding unused fees and financing costs) | 0% | 2.40% | 0% | 2.10% | |
Weighted average outstanding balance | $ 0 | $ 292,658 | $ 0 | $ 301,455 | |
BNP Funding Facility | Line of Credit | |||||
Debt Instrument [Line Items] | |||||
Borrowing interest expense | 7,053 | 3,318 | 13,958 | 6,148 | |
Facility unused commitment fees | 146 | 66 | 246 | 81 | |
Amortization of deferred financing costs | 283 | 286 | 543 | 566 | |
Total | $ 7,482 | $ 3,670 | $ 14,747 | $ 6,795 | |
Weighted average interest rate (excluding unused fees and financing costs) | 7.38% | 3.14% | 7.14% | 2.82% | |
Weighted average outstanding balance | $ 377,912 | $ 417,324 | $ 388,895 | $ 433,323 | |
Truist Credit Facility | Line of Credit | |||||
Debt Instrument [Line Items] | |||||
Borrowing interest expense | 8,651 | 1,948 | 16,474 | 3,467 | |
Facility unused commitment fees | 651 | 666 | 1,190 | 1,305 | |
Amortization of deferred financing costs | 516 | 318 | 955 | 638 | |
Total | $ 9,818 | $ 2,932 | $ 18,619 | $ 5,410 | |
Weighted average interest rate (excluding unused fees and financing costs) | 6.95% | 2.72% | 6.71% | 2.37% | |
Weighted average outstanding balance | $ 492,235 | $ 283,423 | $ 488,543 | $ 290,254 | |
2027 Notes | Senior Notes | |||||
Debt Instrument [Line Items] | |||||
Borrowing interest expense | 4,781 | 4,781 | 9,563 | 7,438 | |
Accretion of original issuance discount | 53 | 54 | 106 | 82 | |
Amortization of debt issuance costs | 280 | 276 | 557 | 425 | |
Total | $ 5,114 | $ 5,111 | $ 10,226 | $ 7,945 | |
Stated interest rate | 4.50% | 4.50% | 4.50% | 4.50% | 4.50% |
2025 Notes | Senior Notes | |||||
Debt Instrument [Line Items] | |||||
Borrowing interest expense | $ 5,191 | $ 0 | $ 10,381 | $ 0 | |
Amortization of debt issuance costs | 302 | 0 | 601 | 0 | |
Total | $ 5,493 | $ 0 | $ 10,982 | $ 0 | |
Stated interest rate | 7.55% | 0% | 7.55% | 0% | 7.55% |
Debt - Schedule of Debt Obligat
Debt - Schedule of Debt Obligations (Details) € in Thousands, $ in Thousands | Jun. 30, 2023 USD ($) | Jun. 30, 2023 EUR (€) | Dec. 31, 2022 USD ($) | Feb. 11, 2022 USD ($) |
Debt Instrument [Line Items] | ||||
Aggregate Principal Committed | $ 2,420,000 | $ 2,275,000 | ||
Outstanding Principal | 1,562,259 | 1,532,254 | ||
Unused Portion | 856,491 | 738,521 | ||
CIBC Substriction Facility | Line of Credit | ||||
Debt Instrument [Line Items] | ||||
Aggregate Principal Committed | 0 | 0 | ||
Outstanding Principal | 0 | 0 | ||
Unused Portion | 0 | 0 | ||
BNP Funding Facility | Line of Credit | ||||
Debt Instrument [Line Items] | ||||
Aggregate Principal Committed | 600,000 | 600,000 | ||
Outstanding Principal | 370,000 | 400,000 | ||
Unused Portion | 230,000 | 200,000 | ||
Truist Credit Facility | Line of Credit | ||||
Debt Instrument [Line Items] | ||||
Aggregate Principal Committed | 1,120,000 | € 238 | 975,000 | |
Outstanding Principal | 492,259 | 432,254 | ||
Unused Portion | 626,491 | 538,521 | ||
Outstanding letters of credit | 1,250 | 4,225 | ||
2027 Notes | Senior Notes | ||||
Debt Instrument [Line Items] | ||||
Aggregate Principal Committed | 425,000 | 425,000 | $ 425,000 | |
Outstanding Principal | 425,000 | 425,000 | ||
Unused Portion | 0 | 0 | ||
Unamortized debt issuance costs | 4,065 | 4,622 | ||
Unamortized original issuance discount | 775 | 881 | ||
2025 Notes | Senior Notes | ||||
Debt Instrument [Line Items] | ||||
Aggregate Principal Committed | 275,000 | 275,000 | $ 275,000 | |
Outstanding Principal | 275,000 | 275,000 | ||
Unused Portion | 0 | 0 | ||
Unamortized debt issuance costs | 2,676 | 3,277 | ||
Unamortized original issuance discount | $ 0 | $ 0 |
Commitment and Contingencies (D
Commitment and Contingencies (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Delayed Draw and Revolving Senior Secured Loans | ||
Financial Support for Nonconsolidated Legal Entity [Line Items] | ||
Unfunded commitments | $ 314,251 | |
Financial Support, Capital Contributions | ||
Financial Support for Nonconsolidated Legal Entity [Line Items] | ||
Unfunded commitments | $ 220,271 | 220,271 |
Capital commitments | $ 1,629,389 | $ 1,629,389 |
Net Assets - Schedule of Distri
Net Assets - Schedule of Distributable Earnings (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Investment Company, Net Assets [Roll Forward] | |||||
Net distributable earnings (accumulated losses), beginning of period | $ (54,779) | ||||
Net investment income/(loss) after taxes | $ 47,795 | $ 29,409 | 92,017 | $ 55,924 | |
Accumulated net realized gain (loss) | 0 | 465 | 122 | 538 | |
Net unrealized appreciation (depreciation) | 8,647 | (33,137) | 8,080 | (37,479) | |
Dividends declared | (40,735) | $ (28,601) | (76,112) | (56,056) | |
Net distributable earnings (accumulated losses), end of period | (30,672) | (30,672) | $ (54,779) | ||
Net distributable earnings (accumulated losses) | |||||
Investment Company, Net Assets [Roll Forward] | |||||
Net distributable earnings (accumulated losses), beginning of period | (54,779) | $ 15,782 | 15,782 | ||
Net investment income/(loss) after taxes | 92,017 | 128,010 | |||
Accumulated net realized gain (loss) | 122 | 537 | |||
Net unrealized appreciation (depreciation) | 8,080 | (80,005) | |||
Dividends declared | (76,112) | (119,437) | |||
Tax reclassification of stockholders’ equity | 0 | 334 | |||
Net distributable earnings (accumulated losses), end of period | $ (30,672) | $ (30,672) | $ (54,779) |
Net Assets - Shares Issued From
Net Assets - Shares Issued From Capital Drawdowns (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
May 16, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Equity [Abstract] | |||||
Shares Issued (in shares) | 3,548,132 | 3,548,132 | |||
Amount | $ 74,866 | $ 0 | $ 74,866 | $ 0 | $ 74,866 |
Net Assets - Distributions Decl
Net Assets - Distributions Declared and Payable (Details) - USD ($) $ / shares in Units, $ in Thousands | 6 Months Ended | |||||
Jun. 27, 2023 | Mar. 28, 2023 | Jun. 24, 2022 | Mar. 25, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Equity [Abstract] | ||||||
Per Share Amount (in dollars per share) | $ 0.57 | $ 0.50 | $ 0.47 | $ 0.48 | $ 1.07 | $ 0.95 |
Total Amount | $ 40,735 | $ 35,377 | $ 28,601 | $ 27,455 | $ 76,112 | $ 56,056 |
Supplemental distribution (in dollars per share) | $ 0.07 |
Net Assets - DRIP Shares (Detai
Net Assets - DRIP Shares (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||||
Feb. 25, 2023 | Jan. 25, 2023 | Apr. 27, 2022 | Jan. 25, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Equity [Abstract] | ||||||||
DRIP Shares Issued (in shares) | 482,721 | 445,235 | 332,212 | 358,891 | 927,956 | 691,103 | ||
DRIP Shares Value | $ 9,698 | $ 8,891 | $ 6,964 | $ 7,540 | $ 9,698 | $ 6,964 | $ 18,589 | $ 14,504 |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Earnings Per Share [Abstract] | ||||
Numerator—net increase/(decrease) in net assets resulting from operations | $ 56,442 | $ (3,263) | $ 100,219 | $ 18,983 |
Weighted average shares outstanding - basic (in shares) | 71,337,323 | 59,227,774 | 71,101,563 | 58,170,368 |
Weighted average shares outstanding - diluted (in shares) | 71,337,323 | 59,227,774 | 71,101,563 | 58,170,368 |
Basic earnings (loss) per share (in dollars per share) | $ 0.79 | $ (0.06) | $ 1.41 | $ 0.33 |
Diluted earnings (loss) per share (in dollars per share) | $ 0.79 | $ (0.06) | $ 1.41 | $ 0.33 |
Consolidated Financial Highli_3
Consolidated Financial Highlights (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Investment Company, Financial Highlights [Roll Forward] | |||||
Net asset value, beginning of period (in dollars per share) | $ 19.81 | $ 20.91 | |||
Net investment income (loss) per share (in dollars per share) | $ 0.67 | $ 0.50 | 1.29 | 0.96 | |
Net unrealized and realized gain (loss) (in dollars per share) | 0.12 | (0.61) | |||
Net increase (decrease) in net assets resulting from operations (in dollars per share) | 1.41 | 0.35 | |||
Dividends declared (in dollars per share) | (1.07) | (0.95) | |||
Issuance of common stock (in dollars per share) | 0 | 0.01 | |||
Total increase (decrease) in net assets (in dollars per share) | 0.34 | (0.59) | |||
Net asset value, end of period (in dollars per share) | $ 20.15 | $ 20.32 | $ 20.15 | $ 20.32 | |
Shares outstanding, end of period (in shares) | 71,464,634 | 61,077,262 | 71,464,634 | 61,077,262 | 70,536,678 |
Total return based on net asset value (in percent) | 7.17% | 1.69% | |||
Ratio/Supplemental Data (all amounts in thousands except ratios and shares): | |||||
Net assets, end of period (in shares) | $ 1,440,001 | $ 1,240,884 | $ 1,440,001 | $ 1,240,884 | |
Weighted average shares outstanding - basic (in shares) | 71,337,323 | 59,227,774 | 71,101,563 | 58,170,368 | |
Ratio of net expenses to average net assets | 9.91% | 5.58% | |||
Ratio of expenses before waivers to average net assets | 11.47% | 7.14% | |||
Ratio of net investment income to average net assets | 14.29% | 9.95% | |||
Ratio of total contributed capital to total committed capital, end of period | 86.48% | 75.95% | |||
Asset coverage ratio | 192.17% | 183.62% | 192.17% | 183.62% | |
Portfolio turnover rate | 4.33% | 9.71% |