Palmer Square Capital BDC (PSBD) 10-K 28 Feb 24 2023 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2023	Feb. 28, 2024	Jun. 30, 2023
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Financial Statement Error Correction [Flag]	false
Entity Interactive Data Current	Yes
ICFR Auditor Attestation Flag	false
Amendment Flag	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Documents Incorporated by Reference [Text Block]	Documents Incorporated by Reference
Entity Information [Line Items]
Entity Registrant Name	Palmer Square Capital BDC Inc.
Entity Central Index Key	0001794776
Securities Act File Number	000-56126
Entity Tax Identification Number	84-3665200
Entity Incorporation, State or Country Code	MD
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Public Float			$ 0
Entity Contact Personnel [Line Items]
Entity Address, Address Line One	1900 Shawnee Mission Parkway
Entity Address, Address Line Two	Suite 315
Entity Address, City or Town	Mission Woods
Entity Address, State or Province	KS
Entity Address, Postal Zip Code	66205
Entity Phone Fax Numbers [Line Items]
City Area Code	(816)
Local Phone Number	994-3200
Entity Listings [Line Items]
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	PSBD
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		32,552,794

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023
Auditor [Table]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Firm ID	238
Auditor Location	Kansas City, Missouri

Consolidated Statement of Asset

Consolidated Statement of Assets and Liabilities - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Assets:
Non-controlled, non-affiliated investments, at fair value (amortized cost of $1,159,135,422 and $1,120,099,935, respectively)	$ 1,108,810,753	$ 1,017,211,732
Cash and cash equivalents	2,117,109	1,650,801
Receivables:
Receivable for sales of investments	97,141	31,014,356
Receivable for paydowns of investments	344,509	136,119
Due from investment adviser	1,718,960	234,102
Dividend receivable	301,637	141,997
Interest receivable	8,394,509	6,465,594
Prepaid expenses and other assets	30,100	598,327
Total Assets	1,121,814,718	1,057,453,028
Liabilities:
Credit facilities, net (Note 6)	641,828,805	641,309,417
Payables:
Payable for investments purchased	14,710,524	42,750,748
Distributions payable		6,941,066
Management fee payable	2,252,075	1,872,815
Accrued other general and administrative expenses	1,067,921	1,135,500
Total Liabilities	659,859,325	694,009,546
Commitments and contingencies (Note 8)
Net Assets:
Common Shares, $0.001 par value; 450,000,000 shares authorized; 27,102,794 and 24,286,628 as of December 31, 2023 and December 31, 2022, respectively issued and outstanding	27,103	24,287
Additional paid-in capital	520,663,106	473,921,377
Total distributable earnings (accumulated deficit)	(58,734,816)	(110,502,182)
Total Net Assets	461,955,393	363,443,482
Total Liabilities and Net Assets	$ 1,121,814,718	$ 1,057,453,028
Net Asset Value Per Common Share (in Dollars per share)	$ 17.04	$ 14.96

Consolidated Statement of Ass_2

Consolidated Statement of Assets and Liabilities (Parentheticals) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Amortized cost (in Dollars)	$ 1,159,135,422	$ 1,120,099,935
Common stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	450,000,000	450,000,000
Common stock, shares issued	27,102,794	24,286,628
Common stock, shares outstanding	27,102,794	24,286,628

Consolidated Statement of Opera

Consolidated Statement of Operations - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investment income from non-controlled, non-affiliated investments:
Interest income	$ 107,739,382	$ 73,705,450	$ 38,897,216
Dividend income	4,066,745	610,203	9,597
Other income	417,480	184,247	778,840
Total investment income from non-controlled, non-affiliated investments	112,223,607	74,499,900	39,685,653
Total Investment Income	112,223,607	74,499,900	39,685,653
Expenses:
Interest expense	44,483,152	23,452,169	8,616,661
Management fees	8,408,074	8,328,713	6,369,583
Professional fees	792,645	741,961	758,435
Directors fees	75,000	75,000	75,000
Other general and administrative expenses	1,528,225	1,862,314	1,827,931
Total Expenses	55,287,096	34,460,157	17,647,610
Less: Management fee waiver (Note 3)	(1,051,009)	(1,041,089)	(796,198)
Net expenses	54,236,087	33,419,068	16,851,412
Net Investment Income (Loss)	57,987,520	41,080,832	22,834,241
Net realized gains (losses):
Non-controlled, non-affiliated investments	(2,715,413)	(8,130,187)	4,753,263
Total net realized gains (losses)	(2,715,413)	(8,130,187)	4,753,263
Net change in unrealized gains (losses):
Non-controlled, non-affiliated investments	52,563,544	(107,432,980)	(8,527,786)
Total net change in unrealized gains (losses)	52,563,544	(107,432,980)	(8,527,786)
Total realized and unrealized gains (losses)	49,848,131	(115,563,167)	(3,774,523)
Net Increase (Decrease) in Net Assets Resulting from Operations	$ 107,835,651	$ (74,482,335)	$ 19,059,718
Basic and diluted net investment income per common share (in Dollars per share)	$ 2.26	$ 1.78	$ 1.47
Basic net increase (decrease) in net assets resulting from operations (in Dollars per share)	$ 4.2	$ (3.22)	$ 1.23
Weighted Average Common Shares Outstanding - Basic (in Shares)	25,700,603	23,130,666	15,494,614

Consolidated Statement of Ope_2

Consolidated Statement of Operations (Parentheticals) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Diluted net investment income per common share	$ 2.26	$ 1.78	$ 1.47
Diluted net increase (decrease) in net assets resulting from operations	$ 4.20	$ (3.22)	$ 1.23
Weighted Average Common Shares Outstanding – Diluted (in Shares)	25,700,603	23,130,666	15,494,614

Consolidated Statement of Chang

Consolidated Statement of Changes in Net Assets - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Increase (Decrease) in Net Assets Resulting from Operations:
Net investment income (loss)	$ 57,987,520	$ 41,080,832	$ 22,834,241
Net realized gains (losses) on investments and foreign currency transactions	(2,715,413)	(8,130,187)	4,753,263
Net change in unrealized gains (losses) on investments, foreign currency translations, and foreign currency exchange contracts	52,563,544	(107,432,980)	(8,527,786)
Net Increase (Decrease) in Net Assets Resulting from Operations	107,835,651	(74,482,335)	19,059,718
Decrease in Net Assets Resulting from Stockholder Distributions
Dividends and distributions to stockholders	(56,068,285)	(43,102,007)	(17,845,775)
Distributions declared from realized gains		(953,110)	(8,106,718)
Net Decrease in Net Assets Resulting from Stockholder Distributions	(56,068,285)	(44,055,117)	(25,952,493)
Increase in Net Assets Resulting from Capital Share Transactions
Issuance of common shares	17,654,225	5,023,801	188,861,571
Reinvestment of distributions	29,090,320	24,159,545	17,683,821
Net Increase in Net Assets Resulting from Capital Share Transactions	46,744,545	29,183,346	206,545,392
Total Increase (Decrease) in Net Assets	98,511,911	(89,354,106)	199,652,617
Net Assets, Beginning of Period	363,443,482	452,797,588	253,144,971
Net Assets, End of Period	$ 461,955,393	$ 363,443,482	$ 452,797,588

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash Flows from Operating Activities:
Net increase (decrease) in net assets resulting from operations	$ 107,835,651	$ (74,482,335)	$ 19,059,718
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash used in operating activities:
Net realized (gains)/losses on investments	2,715,413	8,130,187	(4,753,263)
Net change in unrealized (gains)/losses on investments	(52,563,544)	107,432,980	8,527,786
Net accretion of discount on investments	(1,851,339)	(1,717,453)	(286,282)
Purchases of short-term investments	(578,708,751)	(374,447,403)	(662,604,311)
Purchases of portfolio investments	(273,733,424)	(278,951,054)	(926,351,937)
Proceeds from sale of short-term investments	565,459,502	402,242,952	637,566,416
Proceeds from sale of portfolio investments	247,083,117	314,355,643	406,800,208
Amortization of deferred financing cost	1,005,799	988,243	909,269
Increase/(decrease) in operating assets and liabilities:
(Increase)/decrease in receivable for sales of investments	30,917,215	(13,620,479)	(5,631,875)
(Increase)/decrease in interest and dividends receivable	(2,088,555)	(2,770,690)	(2,224,325)
(Increase)/decrease in due from investment adviser	(1,484,858)	46,638	(125,387)
(Increase)/decrease in receivable for paydowns of investments	(208,390)	91,429	(106,157)
(Increase)/decrease in prepaid expenses and other assets	568,233	(402,331)	(195,996)
Increase/(decrease) in interest payable on credit facilities	2,326,070	1,160,678
Increase/(decrease) in payable for investments purchased	(28,040,224)	(61,528,210)	88,725,508
Increase/(decrease) in management fees payable	379,260	(373,103)	1,003,097
Increase/(decrease) in directors fee payable		(5,000)
Increase/(decrease) in accrued other general and administrative expenses	(67,579)	(1,038,008)	1,676,221
Net cash provided by (used in) operating activities	19,543,596	25,112,684	(438,011,310)
Cash Flows from Financing Activities:
Borrowings on the credit facilities	27,500,000	81,250,000	256,629,745
Payments on the credit facilities	(28,500,000)	(92,000,000)
Payments of debt issuance costs	(1,812,482)		(780,621)
Distributions paid in cash	(33,919,031)	(18,829,187)	(6,288,461)
Proceeds from issuance of common shares, net of change in subscriptions receivable of $ -	17,654,225	5,023,801	188,861,571
Net cash provided by (used in) financing activities	(19,077,288)	(24,555,386)	438,422,234
Net increase/(decrease) in cash and cash equivalents	466,308	557,298	410,924
Cash and cash equivalents, beginning of period	1,650,801	1,093,503	682,579
Cash and cash equivalents, end of period	2,117,109	1,650,801	1,093,503
Supplemental and Non-Cash Information:
Interest paid during the period	42,157,082	22,291,491	7,313,093
Distributions declared during the period	56,068,285	44,055,117	25,952,493
Reinvestment of distributions during the period	29,090,320	24,159,545	17,683,821
Distributions payable		$ 6,941,066	$ 5,874,681

Consolidated Statement of Cas_2

Consolidated Statement of Cash Flows (Parentheticals) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Cash Flows [Abstract]
Proceeds from issuance of common shares, net

Consolidated Schedules of Inves

Consolidated Schedules of Investments - USD ($)		Dec. 31, 2023		Dec. 31, 2022
Debt Investments [Member] | Transnetwork, LLC [Member]
Fair Value	[1],[2],[3],[4]	$ 5,187,000
Amortized Cost	[1],[3]	$ 5,096,000
Percentage of Net Assets	[1],[3]	1.10%
Interest Rate	[1],[3]
Principal / Par	[1],[3]	$ 5,200,000
Maturity Date	[1],[3]	Nov. 20, 2030
Debt Investments [Member] | First Lien Senior Secured [Member]
Fair Value		$ 952,100,626	[1]	$ 870,880,344	[5],[6]
Amortized Cost	[4]	$ 984,089,538	[1],[2]	$ 951,753,250	[5],[6],[7]
Percentage of Net Assets		206.10%	[1]	239.60%	[5],[6]
Principal / Par		$ 995,596,712	[1]	$ 959,720,843	[5],[6]
Debt Investments [Member] | Second Lien Senior Secured [Member]
Fair Value		55,989,218	[1]	58,118,340
Amortized Cost		$ 67,449,770	[1],[2],[4]	$ 71,513,263
Percentage of Net Assets		12.10%	[1]	16%
Principal / Par		$ 68,193,109	[1]	$ 71,956,658
Debt Investments [Member] | Corporate Bonds [Member]
Fair Value		4,239,975		1,332,888
Amortized Cost		$ 4,495,104		$ 1,884,529
Percentage of Net Assets		0.90%		0.40%
Principal / Par		$ 4,995,000		$ 1,900,000
Debt Investments [Member] | Total Debt Investments [Member]
Fair Value		1,012,329,819	[1]	930,331,572	[5],[6]
Amortized Cost	[4]	$ 1,056,034,412	[1],[2]	$ 1,025,151,042	[5],[6],[7]
Percentage of Net Assets		219.10%	[1]	256%	[5],[6]
Principal / Par		$ 1,068,784,821	[1]	$ 1,033,577,501	[5],[6]
Debt Investments [Member] | CLO Mezzanine [Member]
Fair Value		13,764,620	[1]	14,732,721
Amortized Cost		$ 14,859,567	[1],[2],[4]	$ 17,589,330
Percentage of Net Assets		3%	[1]	4.10%
Principal / Par		$ 15,350,000	[1]	$ 18,350,000
Debt Investments [Member] | CLO Equity [Member]
Fair Value		18,953,309	[1]	21,800,224
Amortized Cost		$ 24,478,438	[1],[2],[4]	$ 27,012,348
Percentage of Net Assets		4.10%	[1]	6%
Principal / Par		$ 41,858,000	[1]	$ 41,858,000
Debt Investments [Member] | Total Equity and Other Investments [Member]
Fair Value	[1]	32,717,929
Amortized Cost	[1],[2],[4]	$ 39,338,005
Percentage of Net Assets	[1]	7.10%
Principal / Par	[1]	$ 57,208,000
Debt Investments [Member] | Total Equity and Other Investments [Member]
Fair Value	[5],[6]			36,532,945
Amortized Cost	[5],[6],[7]			$ 44,601,678
Percentage of Net Assets	[5],[6]			10.10%
Principal / Par	[5],[6]			$ 60,208,000
Debt Investments [Member] | Hotels, Restaurants and Leisure [Member] | First Lien Senior Secured [Member] | 888 Holdings PLC [Member]
Fair Value	[1],[2],[4],[8],[9],[10]	3,301,560
Amortized Cost	[1],[8],[9],[10]	$ 3,170,705
Percentage of Net Assets	[1],[8],[9],[10]	0.60%
Interest Rate	[1],[8],[9],[10]
Principal / Par	[1],[8],[9],[10]	$ 3,391,190
Maturity Date	[1],[8],[9],[10]	Jul. 08, 2028
Debt Investments [Member] | Hotels, Restaurants and Leisure [Member] | First Lien Senior Secured [Member] | Aimbridge Acquisition Co., Inc. [Member]
Fair Value	[4],[10]	$ 4,565,932	[1],[2],[8]	4,508,945	[5],[6],[7]
Amortized Cost	[10]	$ 4,823,681	[1],[8]	$ 4,848,346	[5],[6]
Percentage of Net Assets	[10]	1%	[1],[8]	1.20%	[5],[6]
Interest Rate	[10]		[1],[8]		[5],[6]
Principal / Par	[10]	$ 4,885,204	[1],[8]	$ 4,936,225	[5],[6]
Maturity Date	[10]	Feb. 02, 2026	[1],[8]	Feb. 02, 2026	[5],[6]
Debt Investments [Member] | Hotels, Restaurants and Leisure [Member] | First Lien Senior Secured [Member] | AP Gaming I, LLC [Member]
Fair Value	[4],[10]	$ 8,647,488	[1],[2],[8],[9]	$ 8,254,894	[5],[6],[7],[11],[12]
Amortized Cost	[10]	$ 8,501,084	[1],[8],[9]	$ 8,574,269	[5],[6],[11],[12]
Percentage of Net Assets	[10]	1.90%	[1],[8],[9]	2.30%	[5],[6],[11],[12]
Interest Rate	[10]		[1],[8],[9]		[5],[6],[11],[12]
Principal / Par	[10]	$ 8,601,812	[1],[8],[9]	$ 8,689,362	[5],[6],[11],[12]
Maturity Date	[10]	Feb. 15, 2029	[1],[8],[9]	Feb. 15, 2029	[5],[6],[11],[12]
Debt Investments [Member] | Hotels, Restaurants and Leisure [Member] | First Lien Senior Secured [Member] | ECL Entertainment, LLC [Member]
Fair Value	[3],[4]	$ 5,007,450	[1],[2],[8]	$ 1,968,365	[5],[6],[7]
Amortized Cost	[3]	$ 4,891,150	[1],[8]	$ 2,006,853	[5],[6]
Percentage of Net Assets	[3]	1.10%	[1],[8]	0.50%	[5],[6]
Interest Rate	[3]		[1],[8]		[5],[6]
Principal / Par	[3]	$ 4,987,500	[1],[8]	$ 1,970,000	[5],[6]
Maturity Date	[3]	Sep. 03, 2030	[1],[8]	Mar. 31, 2028	[5],[6]
Debt Investments [Member] | Hotels, Restaurants and Leisure [Member] | First Lien Senior Secured [Member] | Fertitta Entertainment LLC [Member]
Fair Value	[4],[10]	$ 7,381,424	[1],[2],[8]	$ 7,092,070	[5],[6],[7]
Amortized Cost	[10]	$ 7,344,237	[1],[8]	$ 7,415,307	[5],[6]
Percentage of Net Assets	[10]	1.60%	[1],[8]	2%	[5],[6]
Interest Rate	[10]		[1],[8]		[5],[6]
Principal / Par	[10]	$ 7,368,750	[1],[8]	$ 7,443,750	[5],[6]
Maturity Date	[10]	Jan. 29, 2029	[1],[8]	Jan. 29, 2029	[5],[6]
Debt Investments [Member] | Hotels, Restaurants and Leisure [Member] | First Lien Senior Secured [Member] | Jack Ohio Finance LLC [Member]
Fair Value	[3],[4]	$ 4,838,843	[1],[2],[8]	$ 4,862,044	[5],[6],[7]
Amortized Cost	[3]	$ 4,898,075	[1],[8]	$ 4,950,641	[5],[6]
Percentage of Net Assets	[3]	1%	[1],[8]	1.30%	[5],[6]
Interest Rate	[3]		[1],[8]		[5],[6]
Principal / Par	[3]	$ 4,895,434	[1],[8]	$ 4,948,645	[5],[6]
Maturity Date	[3]	Oct. 31, 2028	[1],[8]	Oct. 31, 2028	[5],[6]
Debt Investments [Member] | Hotels, Restaurants and Leisure [Member] | First Lien Senior Secured [Member] | Life Time, Inc. [Member]
Fair Value	[4],[10]	$ 7,643,216	[1],[2],[8],[9]	$ 7,555,335	[5],[6],[7],[12]
Amortized Cost	[10]	$ 7,570,881	[1],[8],[9]	$ 7,575,249	[5],[6],[12]
Percentage of Net Assets	[10]	1.70%	[1],[8],[9]	2.10%	[5],[6],[12]
Interest Rate	[10]		[1],[8],[9]		[5],[6],[12]
Principal / Par	[10]	$ 7,582,556	[1],[8],[9]	$ 7,582,556	[5],[6],[12]
Maturity Date	[10]	Jan. 15, 2026	[1],[8],[9]	Dec. 10, 2024	[5],[6],[12]
Debt Investments [Member] | Hotels, Restaurants and Leisure [Member] | First Lien Senior Secured [Member] | WarHorse Gaming, LLC [Member]
Fair Value	[1],[2],[4]	$ 5,125,000
Amortized Cost	[1]	$ 4,806,421
Percentage of Net Assets	[1]	1.10%
Interest Rate	[1]
Principal / Par	[1]	$ 5,000,000
Maturity Date	[1]	Jun. 28, 2028
Debt Investments [Member] | Hotels, Restaurants and Leisure [Member] | First Lien Senior Secured [Member] | Dave & Buster’s, Inc. [Member]
Fair Value	[4],[7],[10],[11],[12]			$ 4,982,825
Amortized Cost	[10],[11],[12]			$ 4,981,250
Percentage of Net Assets	[10],[11],[12]			1.40%
Interest Rate	[10],[11],[12]
Principal / Par	[10],[11],[12]			$ 5,000,000
Maturity Date	[10],[11],[12]			Jun. 22, 2029
Debt Investments [Member] | Insurance [Member] | First Lien Senior Secured [Member] | AAdvantage Loyalty IP Ltd. [Member]
Fair Value	[4],[10]	$ 3,472,300	[2],[8],[9]	$ 3,740,039	[5],[6],[7],[12]
Amortized Cost	[10]	$ 3,349,525	[8],[9]	$ 3,716,805	[5],[6],[12]
Percentage of Net Assets	[10]	0.70%	[8],[9]	0.90%	[5],[6],[12]
Interest Rate	[10]		[8],[9]		[5],[6],[12]
Principal / Par	[10]	$ 3,375,000	[8],[9]	$ 3,750,000	[5],[6],[12]
Maturity Date	[10]	Apr. 20, 2028	[8],[9]	Apr. 20, 2028	[5],[6],[12]
Debt Investments [Member] | Insurance [Member] | First Lien Senior Secured [Member] | Accession Risk Management Group, Inc. [Member]
Fair Value	[1],[2],[4],[8]	$ 798,244
Amortized Cost	[1],[8]	$ 778,995
Percentage of Net Assets	[1],[8]	0.20%
Interest Rate	[1],[8]
Principal / Par	[1],[8]	$ 798,244
Maturity Date	[1],[8]	Nov. 01, 2029
Debt Investments [Member] | Insurance [Member] | First Lien Senior Secured [Member] | AccessionRiskManagementGroupInc[Member]
Fair Value	[1],[2],[4],[8]	$ 373,125
Amortized Cost	[1],[8]	$ 375,000
Percentage of Net Assets	[1],[8]	0.10%
Interest Rate	[1],[8]
Principal / Par	[1],[8]	$ 375,000
Maturity Date	[1],[8]	Oct. 30, 2029
Debt Investments [Member] | Insurance [Member] | First Lien Senior Secured [Member] | Accession Risk Management Group, Inc. One [Member]
Fair Value	[1],[2],[3],[4],[8]	$ 6,129,372
Amortized Cost	[1],[3],[8]	$ 6,094,817
Percentage of Net Assets	[1],[3],[8]	1.20%
Interest Rate	[1],[3],[8]
Principal / Par	[1],[3],[8]	$ 6,129,372
Maturity Date	[1],[3],[8]	Nov. 01, 2029
Debt Investments [Member] | Insurance [Member] | First Lien Senior Secured [Member] | Acrisure, LLC [Member]
Fair Value	[4],[10]	$ 4,970,652	[1],[2],[8]	$ 5,496,511	[5],[6],[7]
Amortized Cost	[10]	$ 4,925,187	[1],[8]	$ 5,829,939	[5],[6]
Percentage of Net Assets	[10]	1%	[1],[8]	1.50%	[5],[6]
Interest Rate	[10]		[1],[8]		[5],[6]
Principal / Par	[10]	$ 4,949,000	[1],[8]	$ 5,842,349	[5],[6]
Maturity Date	[10]	Feb. 15, 2027	[1],[8]	Feb. 12, 2027	[5],[6]
Debt Investments [Member] | Insurance [Member] | First Lien Senior Secured [Member] | Acrisure, LLC [Member]
Fair Value	[4],[10]	$ 5,780,741	[1],[2],[8]	$ 4,851,590	[5],[6],[7]
Amortized Cost	[10]	$ 5,774,311	[1],[8]	$ 4,968,962	[5],[6]
Percentage of Net Assets	[10]	1.20%	[1],[8]	1.30%	[5],[6]
Interest Rate	[10]		[1],[8]		[5],[6]
Principal / Par	[10]	$ 5,782,273	[1],[8]	$ 4,999,500	[5],[6]
Maturity Date	[10]	Feb. 12, 2027	[1],[8]	Feb. 15, 2027	[5],[6]
Debt Investments [Member] | Insurance [Member] | First Lien Senior Secured [Member] | Alliant Holdings Intermediate LLC [Member]
Fair Value	[4],[10]	$ 2,392,172	[1],[2],[8]	$ 5,799,094	[5],[6],[7]
Amortized Cost	[10]	$ 2,377,608	[1],[8]	$ 5,919,495	[5],[6]
Percentage of Net Assets	[10]	0.50%	[1],[8]	1.60%	[5],[6]
Interest Rate	[10]		[1],[8]		[5],[6]
Principal / Par	[10]	$ 2,378,637	[1],[8]	$ 5,925,000	[5],[6]
Maturity Date	[10]	Nov. 06, 2030	[1],[8]	Nov. 05, 2027	[5],[6]
Debt Investments [Member] | Insurance [Member] | First Lien Senior Secured [Member] | Amynta Agency Borrower, Inc. [Member]
Fair Value	[1],[2],[4],[8],[10]	$ 6,982,456
Amortized Cost	[1],[8],[10]	$ 6,784,256
Percentage of Net Assets	[1],[8],[10]	1.50%
Interest Rate	[1],[8],[10]
Principal / Par	[1],[8],[10]	$ 6,965,044
Maturity Date	[1],[8],[10]	Feb. 28, 2028
Debt Investments [Member] | Insurance [Member] | First Lien Senior Secured [Member] | AssuredPartners, Inc. [Member]
Fair Value	[1],[2],[4],[10]	$ 4,388,028
Amortized Cost	[1],[10]	$ 4,374,552
Percentage of Net Assets	[1],[10]	0.90%
Interest Rate	[1],[10]
Principal / Par	[1],[10]	$ 4,371,635
Maturity Date	[1],[10]	Feb. 12, 2027
Debt Investments [Member] | Insurance [Member] | First Lien Senior Secured [Member] | AssuredPartners Inc [Member]
Fair Value	[1],[2],[4],[10]	$ 1,971,878
Amortized Cost	[1],[10]	$ 1,956,461
Percentage of Net Assets	[1],[10]	0.40%
Interest Rate	[1],[10]
Principal / Par	[1],[10]	$ 1,965,000
Maturity Date	[1],[10]	Feb. 12, 2027
Debt Investments [Member] | Insurance [Member] | First Lien Senior Secured [Member] | HUB International Ltd. [Member]
Fair Value	[1],[2],[4]	$ 4,112,469
Amortized Cost	[1]	$ 4,050,095
Percentage of Net Assets	[1]	0.90%
Interest Rate	[1]
Principal / Par	[1]	$ 4,089,750
Maturity Date	[1]	Jun. 20, 2030
Debt Investments [Member] | Insurance [Member] | First Lien Senior Secured [Member] | IMA Financial Group, Inc. [Member]
Fair Value	[3],[4]	$ 4,906,125	[1],[2],[8]	$ 4,801,525	[5],[6],[7]
Amortized Cost	[3]	$ 4,882,618	[1],[8]	$ 4,928,624	[5],[6]
Percentage of Net Assets	[3]	1.10%	[1],[8]	1.30%	[5],[6]
Interest Rate	[3]		[1],[8]		[5],[6]
Principal / Par	[3]	$ 4,900,000	[1],[8]	$ 4,950,000	[5],[6]
Maturity Date	[3]	Oct. 16, 2028	[1],[8]	Oct. 16, 2028	[5],[6]
Debt Investments [Member] | Insurance [Member] | First Lien Senior Secured [Member] | Jones DesLauriers Insurance Management Inc. [Member]
Fair Value	[1],[2],[3],[4],[8],[9]	$ 2,765,469
Amortized Cost	[1],[3],[8],[9]	$ 2,730,178
Percentage of Net Assets	[1],[3],[8],[9]	0.60%
Interest Rate	[1],[3],[8],[9]
Principal / Par	[1],[3],[8],[9]	$ 2,750,000
Maturity Date	[1],[3],[8],[9]	Mar. 16, 2030
Debt Investments [Member] | Insurance [Member] | First Lien Senior Secured [Member] | OneDigital Borrower LLC [Member]
Fair Value	[4],[10]	$ 9,777,675	[1],[2]	$ 9,352,989	[5],[6],[7]
Amortized Cost	[10]	$ 9,690,190	[1]	$ 9,770,988	[5],[6]
Percentage of Net Assets	[10]	2.10%	[1]	2.60%	[5],[6]
Interest Rate	[10]		[1]		[5],[6]
Principal / Par	[10]	$ 9,771,519	[1]	$ 9,871,228	[5],[6]
Maturity Date	[10]	Nov. 16, 2027	[1]	Nov. 16, 2027	[5],[6]
Debt Investments [Member] | Insurance [Member] | First Lien Senior Secured [Member] | Patriot Growth Insurance Services, LL [Member]
Fair Value	[1],[2],[3],[4],[13]	$ 293,500
Amortized Cost	[1],[3],[13]	$ 276,916
Percentage of Net Assets	[1],[3],[13]	0.10%
Interest Rate	[1],[3],[13]
Principal / Par	[1],[3],[13]	$ 350,000
Maturity Date	[1],[3],[13]	Oct. 14, 2028
Debt Investments [Member] | Insurance [Member] | First Lien Senior Secured [Member] | Amynta Agency Borrower, Inc. [Member]
Fair Value	[4],[5],[6],[7],[10]			$ 8,395,181
Amortized Cost	[5],[6],[10]			$ 8,726,822
Percentage of Net Assets	[5],[6],[10]			2.30%
Interest Rate	[5],[6],[10]
Principal / Par	[5],[6],[10]			$ 8,837,032
Maturity Date	[5],[6],[10]			Feb. 28, 2025
Debt Investments [Member] | Insurance [Member] | First Lien Senior Secured [Member] | AssuredPartners, Inc. [Member]
Fair Value	[4],[5],[6],[7],[10]			$ 4,288,394
Amortized Cost	[5],[6],[10]			$ 4,421,141
Percentage of Net Assets	[5],[6],[10]			1.20%
Interest Rate	[5],[6],[10]
Principal / Par	[5],[6],[10]			$ 4,416,472
Maturity Date	[5],[6],[10]			Feb. 12, 2027
Debt Investments [Member] | Insurance [Member] | First Lien Senior Secured [Member] | AssuredPartners, Inc. [Member]
Fair Value	[4],[5],[6],[7],[10]			$ 1,932,398
Amortized Cost	[5],[6],[10]			$ 1,973,934
Percentage of Net Assets	[5],[6],[10]			0.50%
Interest Rate	[5],[6],[10]
Principal / Par	[5],[6],[10]			$ 1,985,000
Maturity Date	[5],[6],[10]			Feb. 12, 2027
Debt Investments [Member] | Insurance [Member] | First Lien Senior Secured [Member] | RSC Acquisition, Inc. [Member]
Fair Value	[3],[4],[5],[6],[7]			$ 6,023,015
Amortized Cost	[3],[5],[6]			$ 6,147,556
Percentage of Net Assets	[3],[5],[6]			1.70%
Interest Rate	[3],[5],[6]
Principal / Par	[3],[5],[6]			$ 6,193,331
Maturity Date	[3],[5],[6]			Sep. 30, 2026
Debt Investments [Member] | Insurance [Member] | Second Lien Senior Secured [Member] | Asurion, LLC [Member]
Fair Value	[10]	$ 5,677,020	[1],[2],[4],[8]	$ 4,699,290	[5],[6],[7]
Amortized Cost	[10]	$ 5,970,805	[1],[8]	$ 5,965,262	[5],[6]
Percentage of Net Assets	[10]	1.20%	[1],[8]	1.30%	[5],[6]
Interest Rate	[10]		[1],[8]		[5],[6]
Principal / Par	[10]	$ 6,000,000	[1],[8]	$ 6,000,000	[5],[6]
Maturity Date	[10]	Jan. 19, 2029	[1],[8]	Jan. 19, 2029	[5],[6]
Debt Investments [Member] | Healthcare Providers and Services [Member] | First Lien Senior Secured [Member] | AccentCare, Inc. [Member]
Fair Value	[4],[10]	$ 4,648,848	[1],[2],[8]	$ 4,059,695	[5],[6],[7]
Amortized Cost	[10]	$ 5,910,503	[1],[8]	$ 5,971,668	[5],[6]
Percentage of Net Assets	[10]	0.90%	[1],[8]	1.10%	[5],[6]
Interest Rate	[10]		[1],[8]		[5],[6]
Principal / Par	[10]	$ 5,909,529	[1],[8]	$ 5,970,140	[5],[6]
Maturity Date	[10]	Jun. 22, 2026	[1],[8]	Jun. 22, 2026	[5],[6]
Debt Investments [Member] | Healthcare Providers and Services [Member] | First Lien Senior Secured [Member] | Athletico Management, LLC [Member]
Fair Value	[4],[10]	$ 6,015,790	[1],[2]	$ 5,890,384	[5],[6],[7]
Amortized Cost	[10]	$ 7,090,060	[1]	$ 7,157,111	[5],[6]
Percentage of Net Assets	[10]	1.30%	[1]	1.60%	[5],[6]
Interest Rate	[10]		[1]		[5],[6]
Principal / Par	[10]	$ 7,116,625	[1]	$ 7,188,875	[5],[6]
Maturity Date	[10]	Feb. 02, 2029	[1]	Feb. 02, 2029	[5],[6]
Debt Investments [Member] | Healthcare Providers and Services [Member] | First Lien Senior Secured [Member] | Aveanna Healthcare LLC [Member]
Fair Value	[4],[10]	$ 4,757,848	[1],[2],[9]	$ 3,988,165	[5],[6],[7],[11],[12]
Amortized Cost	[10]	$ 5,061,286	[1],[9]	$ 5,111,181	[5],[6],[11],[12]
Percentage of Net Assets	[10]	1%	[1],[9]	1.10%	[5],[6],[11],[12]
Interest Rate	[10]		[1],[9]		[5],[6],[11],[12]
Principal / Par	[10]	$ 5,096,375	[1],[9]	$ 5,149,341	[5],[6],[11],[12]
Maturity Date	[10]	Jun. 30, 2028	[1],[9]	Jun. 30, 2028	[5],[6],[11],[12]
Debt Investments [Member] | Healthcare Providers and Services [Member] | First Lien Senior Secured [Member] | CCS-CMGC Holdings, Inc. [Member]
Fair Value	[4],[10]	$ 4,499,131	[1],[2],[8]	$ 4,263,360	[5],[6],[7]
Amortized Cost	[10]	$ 5,265,722	[1],[8]	$ 5,303,965	[5],[6]
Percentage of Net Assets	[10]	1%	[1],[8]	1.20%	[5],[6]
Interest Rate	[10]		[1],[8]		[5],[6]
Principal / Par	[10]	$ 5,299,922	[1],[8]	$ 5,355,711	[5],[6]
Maturity Date	[10]	Oct. 01, 2025	[1],[8]	Oct. 01, 2025	[5],[6]
Debt Investments [Member] | Healthcare Providers and Services [Member] | First Lien Senior Secured [Member] | Curia Global, Inc. [Member]
Fair Value	[4],[10]	$ 4,334,249	[1],[2]	$ 4,017,980	[5],[6],[7]
Amortized Cost	[10]	$ 4,790,688	[1]	$ 4,836,404	[5],[6]
Percentage of Net Assets	[10]	0.90%	[1]	1.10%	[5],[6]
Interest Rate	[10]		[1]		[5],[6]
Principal / Par	[10]	$ 4,800,817	[1]	$ 4,850,056	[5],[6]
Maturity Date	[10]	Aug. 30, 2026	[1]	Aug. 30, 2026	[5],[6]
Debt Investments [Member] | Healthcare Providers and Services [Member] | First Lien Senior Secured [Member] | Gainwell Acquisition Corp. [Member]
Fair Value	[1],[2],[4],[8],[10]	$ 8,568,102
Amortized Cost	[1],[8],[10]	$ 8,657,860
Percentage of Net Assets	[1],[8],[10]	1.90%
Interest Rate	[1],[8],[10]
Principal / Par	[1],[8],[10]	$ 8,787,797
Maturity Date	[1],[8],[10]	Oct. 01, 2027
Debt Investments [Member] | Healthcare Providers and Services [Member] | First Lien Senior Secured [Member] | Global Medical Response, Inc. [Member]
Fair Value	[4],[10]	$ 7,097,398	[1],[2],[8]	$ 6,429,666	[5],[6],[7]
Amortized Cost	[10]	$ 8,974,743	[1],[8]	$ 9,053,579	[5],[6]
Percentage of Net Assets	[10]	1.50%	[1],[8]	1.80%	[5],[6]
Interest Rate	[10]		[1],[8]		[5],[6]
Principal / Par	[10]	$ 9,003,023	[1],[8]	$ 9,095,838	[5],[6]
Maturity Date	[10]	Sep. 24, 2025	[1],[8]	Sep. 24, 2025	[5],[6]
Debt Investments [Member] | Healthcare Providers and Services [Member] | First Lien Senior Secured [Member] | HAH Group Holding Company LLC [Member]
Fair Value	[4],[10]	$ 699,776	[1],[2],[8]	$ 679,845	[5],[6],[7],[11]
Amortized Cost	[10]	$ 689,126	[1],[8]	$ 693,320	[5],[6],[11]
Percentage of Net Assets	[10]	0.20%	[1],[8]	0.20%	[5],[6],[11]
Interest Rate	[10]		[1],[8]		[5],[6],[11]
Principal / Par	[10]	$ 703,731	[1],[8]	$ 710,949	[5],[6],[11]
Maturity Date	[10]	Oct. 22, 2027	[1],[8]	Oct. 22, 2027	[5],[6],[11]
Debt Investments [Member] | Healthcare Providers and Services [Member] | First Lien Senior Secured [Member] | HAH Group Holding Company LLC One [Member]
Fair Value	[4],[10]	$ 5,530,162	[1],[2],[8]	$ 5,372,790	[5],[6],[7],[11]
Amortized Cost	[10]	$ 5,445,970	[1],[8]	$ 5,479,223	[5],[6],[11]
Percentage of Net Assets	[10]	1.20%	[1],[8]	1.50%	[5],[6],[11]
Interest Rate	[10]		[1],[8]		[5],[6],[11]
Principal / Par	[10]	$ 5,561,417	[1],[8]	$ 5,618,604	[5],[6],[11]
Maturity Date	[10]	Oct. 20, 2027	[1],[8]	Oct. 20, 2027	[5],[6],[11]
Debt Investments [Member] | Healthcare Providers and Services [Member] | First Lien Senior Secured [Member] | ImageFirst Holdings, LLC [Member]
Fair Value	[1],[2],[3],[4],[8]	$ 4,145,833
Amortized Cost	[1],[3],[8]	$ 4,033,403
Percentage of Net Assets	[1],[3],[8]	0.90%
Interest Rate	[1],[3],[8]
Principal / Par	[1],[3],[8]	$ 4,145,833
Maturity Date	[1],[3],[8]	Apr. 27, 2028
Debt Investments [Member] | Healthcare Providers and Services [Member] | First Lien Senior Secured [Member] | Medical Solutions L.L.C. [Member]
Fair Value	[1],[2],[3],[4],[8]	$ 4,629,736
Amortized Cost	[1],[3],[8]	$ 4,899,589
Percentage of Net Assets	[1],[3],[8]	1%
Interest Rate	[1],[3],[8]
Principal / Par	[1],[3],[8]	$ 4,916,517
Maturity Date	[1],[3],[8]	Oct. 06, 2028
Debt Investments [Member] | Healthcare Providers and Services [Member] | First Lien Senior Secured [Member] | Midwest Veterinary Partners, LLC [Member]
Fair Value	[4],[10]	$ 8,740,136	[1],[2],[8]	$ 8,038,697	[5],[6],[7]
Amortized Cost	[10]	$ 8,730,243	[1],[8]	$ 8,806,026	[5],[6]
Percentage of Net Assets	[10]	1.90%	[1],[8]	2.20%	[5],[6]
Interest Rate	[10]		[1],[8]		[5],[6]
Principal / Par	[10]	$ 8,793,690	[1],[8]	$ 8,882,538	[5],[6]
Maturity Date	[10]	Apr. 27, 2028	[1],[8]	Apr. 27, 2028	[5],[6]
Debt Investments [Member] | Healthcare Providers and Services [Member] | First Lien Senior Secured [Member] | NAPA Management Services Corporation [Member]
Fair Value	[4],[10]	$ 7,254,937	[1],[2],[8]	$ 6,538,114	[5],[6],[7]
Amortized Cost	[10]	$ 7,804,787	[1],[8]	$ 7,874,026	[5],[6]
Percentage of Net Assets	[10]	1.60%	[1],[8]	1.80%	[5],[6]
Interest Rate	[10]		[1],[8]		[5],[6]
Principal / Par	[10]	$ 7,860,000	[1],[8]	$ 7,940,000	[5],[6]
Maturity Date	[10]	Feb. 23, 2029	[1],[8]	Feb. 23, 2029	[5],[6]
Debt Investments [Member] | Healthcare Providers and Services [Member] | First Lien Senior Secured [Member] | National Mentor Holdings, Inc. [Member]
Fair Value	[1],[2],[4],[8],[10]	$ 266,748
Amortized Cost	[1],[8],[10]	$ 291,396
Percentage of Net Assets	[1],[8],[10]	0.10%
Interest Rate	[1],[8],[10]
Principal / Par	[1],[8],[10]	$ 291,993
Maturity Date	[1],[8],[10]	Feb. 18, 2028
Debt Investments [Member] | Healthcare Providers and Services [Member] | First Lien Senior Secured [Member] | National Mentor Holdings, Inc. [Memrber]
Fair Value	[1],[2],[4],[10]	$ 8,259,494
Amortized Cost	[1],[10]	$ 9,022,958
Percentage of Net Assets	[1],[10]	1.80%
Interest Rate	[1],[10]
Principal / Par	[1],[10]	$ 9,041,196
Maturity Date	[1],[10]	Feb. 18, 2028
Debt Investments [Member] | Healthcare Providers and Services [Member] | First Lien Senior Secured [Member] | Radiology Partners, Inc [Member]
Fair Value	[4],[10]	$ 4,846,067	[1],[2]	$ 5,064,390	[5],[6],[7]
Amortized Cost	[10]	$ 5,967,601	[1]	$ 5,993,919	[5],[6]
Percentage of Net Assets	[10]	1%	[1]	1.40%	[5],[6]
Interest Rate	[10]		[1]		[5],[6]
Principal / Par	[10]	$ 5,971,261	[1]	$ 6,000,000	[5],[6]
Maturity Date	[10]	Jul. 09, 2025	[1]	Jul. 09, 2025	[5],[6]
Debt Investments [Member] | Healthcare Providers and Services [Member] | First Lien Senior Secured [Member] | U.S. Renal Care, Inc. [Member]
Fair Value	[4],[10]	$ 5,975,672	[1],[2],[3]	$ 278,660	[5],[6],[7]
Amortized Cost	[10]	$ 7,749,489	[1],[3]	$ 488,355	[5],[6]
Percentage of Net Assets	[10]	1.30%	[1],[3]	0.10%	[5],[6]
Interest Rate	[10]		[1],[3]		[5],[6]
Principal / Par	[10]	$ 7,836,947	[1],[3]	$ 493,750	[5],[6]
Maturity Date	[10]	Jun. 20, 2028	[1],[3]	Jun. 26, 2026	[5],[6]
Debt Investments [Member] | Healthcare Providers and Services [Member] | First Lien Senior Secured [Member] | US Radiology Specialists, Inc. [Member]
Fair Value	[4],[10]	$ 8,731,967	[1],[2]	$ 8,046,395	[5],[6],[7]
Amortized Cost	[10]	$ 8,715,244	[1]	$ 8,788,150	[5],[6]
Percentage of Net Assets	[10]	1.90%	[1]	2.20%	[5],[6]
Interest Rate	[10]		[1]		[5],[6]
Principal / Par	[10]	$ 8,790,600	[1]	$ 8,880,300	[5],[6]
Maturity Date	[10]	Dec. 10, 2027	[1]	Dec. 10, 2027	[5],[6]
Debt Investments [Member] | Healthcare Providers and Services [Member] | First Lien Senior Secured [Member] | Medical Solutions L.L.C One [Member]
Fair Value	[3],[4],[5],[6],[7]			$ 4,665,744
Amortized Cost	[3],[5],[6]			$ 4,945,113
Percentage of Net Assets	[3],[5],[6]			1.30%
Interest Rate	[3],[5],[6]
Principal / Par	[3],[5],[6]			$ 4,966,304
Maturity Date	[3],[5],[6]			Oct. 06, 2028
Debt Investments [Member] | Healthcare Providers and Services [Member] | First Lien Senior Secured [Member] | Milano Acquisition Corporation [Member]
Fair Value	[4],[7],[10],[11]			$ 8,356,788
Amortized Cost	[10],[11]			$ 8,719,701
Percentage of Net Assets	[10],[11]			2.30%
Interest Rate	[10],[11]
Principal / Par	[10],[11]			$ 8,878,393
Maturity Date	[10],[11]			Oct. 01, 2027
Debt Investments [Member] | Healthcare Providers and Services [Member] | First Lien Senior Secured [Member] | National Mentor Holdings, Inc. [Member]
Fair Value	[4],[5],[6],[7],[10]			$ 6,434,516
Amortized Cost	[5],[6],[10]			$ 9,111,508
Percentage of Net Assets	[5],[6],[10]			1.80%
Interest Rate	[5],[6],[10]
Principal / Par	[5],[6],[10]			$ 9,134,164
Maturity Date	[5],[6],[10]			Feb. 18, 2028
Debt Investments [Member] | Healthcare Providers and Services [Member] | First Lien Senior Secured [Member] | National Mentor Holdings, Inc. [Member]
Fair Value	[4],[5],[6],[7],[10]			$ 205,693
Amortized Cost	[5],[6],[10]			$ 291,242
Percentage of Net Assets	[5],[6],[10]			0.10%
Interest Rate	[5],[6],[10]
Principal / Par	[5],[6],[10]			$ 291,993
Maturity Date	[5],[6],[10]			Feb. 18, 2028
Debt Investments [Member] | Healthcare Providers and Services [Member] | First Lien Senior Secured [Member] | PetVet Care Centers, LLC [Member]
Fair Value	[4],[5],[6],[7],[10]			$ 6,475,079
Amortized Cost	[5],[6],[10]			$ 6,857,497
Percentage of Net Assets	[5],[6],[10]			1.80%
Interest Rate	[5],[6],[10]
Principal / Par	[5],[6],[10]			$ 6,867,196
Maturity Date	[5],[6],[10]			Feb. 14, 2025
Debt Investments [Member] | Healthcare Providers and Services [Member] | First Lien Senior Secured [Member] | Surgery Center Holdings, Inc. [Member]
Fair Value	[4],[5],[6],[7],[10],[12]			$ 4,175,035
Amortized Cost	[5],[6],[10],[12]			$ 4,201,753
Percentage of Net Assets	[5],[6],[10],[12]			1.10%
Interest Rate	[5],[6],[10],[12]
Principal / Par	[5],[6],[10],[12]			$ 4,217,676
Maturity Date	[5],[6],[10],[12]			Sep. 03, 2026
Debt Investments [Member] | Healthcare Providers and Services [Member] | First Lien Senior Secured [Member] | U.S. Renal Care, Inc. [Member]
Fair Value	[3],[4],[5],[6],[7],[10]			$ 4,978,153
Amortized Cost	[3],[5],[6],[10]			$ 8,697,196
Percentage of Net Assets	[3],[5],[6],[10]			1.40%
Interest Rate	[3],[5],[6],[10]
Principal / Par	[3],[5],[6],[10]			$ 8,820,648
Maturity Date	[3],[5],[6],[10]			Jun. 26, 2026
Debt Investments [Member] | Healthcare Providers and Services [Member] | Second Lien Senior Secured [Member] | Gainwell Acquisition Corp. [Member]
Fair Value	[1],[2],[4],[8]	$ 2,925,000
Amortized Cost	[1],[8]	$ 2,959,549
Percentage of Net Assets	[1],[8]	0.60%
Interest Rate	[1],[8]
Principal / Par	[1],[8]	$ 3,000,000
Maturity Date	[1],[8]	Oct. 02, 2028
Debt Investments [Member] | Healthcare Providers and Services [Member] | Second Lien Senior Secured [Member] | Paradigm Outcomes [Member]
Fair Value	[4]	$ 1,398,750	[1],[2],[8]	$ 1,440,000	[5],[6],[7]
Amortized Cost		$ 1,484,212	[1],[8]	$ 1,479,565	[5],[6]
Percentage of Net Assets		0.30%	[1],[8]	0.40%	[5],[6]
Interest Rate			[1],[8]		[5],[6]
Principal / Par		$ 1,500,000	[1],[8]	$ 1,500,000	[5],[6]
Maturity Date		Oct. 26, 2026	[1],[8]	Oct. 26, 2026	[5],[6]
Debt Investments [Member] | Energy Equipment and Services [Member] | First Lien Senior Secured [Member] | Accession Risk Management Group, Inc. [Member]
Fair Value	[1],[2],[4],[8],[10],[14]	$ 154,018
Amortized Cost	[1],[8],[10],[14]	$ 140,244
Percentage of Net Assets	[1],[8],[10],[14]	0%
Interest Rate	[1],[8],[10],[14]
Principal / Par	[1],[8],[10],[14]	$ 167,153
Maturity Date	[1],[8],[10],[14]	Oct. 30, 2029
Debt Investments [Member] | Energy Equipment and Services [Member] | First Lien Senior Secured [Member] | Epic Crude Services, LP [Member]
Fair Value	[1],[2],[4],[8],[10]	$ 6,856,080
Amortized Cost	[1],[8],[10]	$ 6,728,726
Percentage of Net Assets	[1],[8],[10]	1.50%
Interest Rate	[1],[8],[10]
Principal / Par	[1],[8],[10]	$ 7,000,000
Maturity Date	[1],[8],[10]	Jun. 30, 2027
Debt Investments [Member] | Energy Equipment and Services [Member] | First Lien Senior Secured [Member] | WaterBridge Midstream Operating, LLC [Member]
Fair Value	[4],[10]	$ 8,162,708	[1],[2]	$ 3,816,176	[5],[6],[7]
Amortized Cost	[10]	$ 8,058,105	[1]	$ 3,866,350	[5],[6]
Percentage of Net Assets	[10]	1.80%	[1]	1.10%	[5],[6]
Interest Rate	[10]		[1]		[5],[6]
Principal / Par	[10]	$ 8,140,282	[1]	$ 3,959,079	[5],[6]
Maturity Date	[10]	Jun. 22, 2026	[1]	Jun. 22, 2026	[5],[6]
Debt Investments [Member] | Energy Equipment and Services [Member] | First Lien Senior Secured [Member] | GIP III Stetson I, LP [Member]
Fair Value	[4],[5],[6],[7],[10]			$ 1,822,614
Amortized Cost	[5],[6],[10]			$ 1,804,227
Percentage of Net Assets	[5],[6],[10]			0.50%
Interest Rate	[5],[6],[10]
Principal / Par	[5],[6],[10]			$ 1,855,663
Maturity Date	[5],[6],[10]			Jul. 19, 2025
Debt Investments [Member] | Food Products [Member] | First Lien Senior Secured [Member] | AI Aqua Merger Sub, Inc., [Member]
Fair Value	[3],[4],[10]	$ 7,599,745	[1],[2],[8]	$ 7,235,329	[5],[6],[7]
Amortized Cost	[3],[10]	$ 7,588,317	[1],[8]	$ 7,664,792	[5],[6]
Percentage of Net Assets	[3],[10]	1.60%	[1],[8]	2%	[5],[6]
Interest Rate	[3],[10]		[1],[8]		[5],[6]
Principal / Par	[3],[10]	$ 7,584,500	[1],[8]	$ 7,661,500	[5],[6]
Maturity Date	[3],[10]	Jun. 16, 2028	[1],[8]	Jun. 16, 2028	[5],[6]
Debt Investments [Member] | Food Products [Member] | First Lien Senior Secured [Member] | Aspire Bakeries Holdings, LLC [Member]
Fair Value	[1],[2],[4],[10]	$ 3,015,000
Amortized Cost	[1],[10]	$ 2,970,012
Percentage of Net Assets	[1],[10]	0.70%
Interest Rate	[1],[10]
Principal / Par	[1],[10]	$ 3,000,000
Maturity Date	[1],[10]	Dec. 13, 2030
Debt Investments [Member] | Food Products [Member] | First Lien Senior Secured [Member] | Max US Bidco Inc [Member]
Fair Value	[1],[2],[4]	$ 5,365,756
Amortized Cost	[1]	$ 5,445,089
Percentage of Net Assets	[1]	1.20%
Interest Rate	[1]
Principal / Par	[1]	$ 5,725,000
Maturity Date	[1]	Oct. 03, 2030
Debt Investments [Member] | Food Products [Member] | First Lien Senior Secured [Member] | Refresco [Member]
Fair Value	[4],[10]	$ 4,960,049	[1],[2],[9]	$ 4,850,000	[5],[6],[7],[12]
Amortized Cost	[10]	$ 4,930,051	[1],[9]	$ 4,958,869	[5],[6],[12]
Percentage of Net Assets	[10]	1.10%	[1],[9]	1.30%	[5],[6],[12]
Interest Rate	[10]		[1],[9]		[5],[6],[12]
Principal / Par	[10]	$ 4,950,000	[1],[9]	$ 5,000,000	[5],[6],[12]
Maturity Date	[10]	Jul. 12, 2029	[1],[9]	Dec. 13, 2024	[5],[6],[12]
Debt Investments [Member] | Food Products [Member] | First Lien Senior Secured [Member] | Shearer’s Foods, LLC [Member]
Fair Value	[4],[10]	$ 1,661,396	[1],[2]	$ 1,600,814	[5],[6],[7]
Amortized Cost	[10]	$ 1,650,032	[1]	$ 1,665,320	[5],[6]
Percentage of Net Assets	[10]	0.40%	[1]	0.40%	[5],[6]
Interest Rate	[10]		[1]		[5],[6]
Principal / Par	[10]	$ 1,656,972	[1]	$ 1,674,054	[5],[6]
Maturity Date	[10]	Sep. 23, 2027	[1]	Sep. 23, 2027	[5],[6]
Debt Investments [Member] | Professional Services [Member] | First Lien Senior Secured [Member] | Allied Universal Holdco LLC [Member]
Fair Value	[4],[10]	$ 6,824,778	[1],[2],[8]	$ 6,580,735	[5],[6],[7]
Amortized Cost	[10]	$ 6,836,638	[1],[8]	$ 6,907,152	[5],[6]
Percentage of Net Assets	[10]	1.50%	[1],[8]	1.80%	[5],[6]
Interest Rate	[10]		[1],[8]		[5],[6]
Principal / Par	[10]	$ 6,842,500	[1],[8]	$ 6,912,500	[5],[6]
Maturity Date	[10]	Apr. 07, 2028	[1],[8]	Apr. 07, 2028	[5],[6]
Debt Investments [Member] | Professional Services [Member] | First Lien Senior Secured [Member] | Ascend Learning, LLC [Member]
Fair Value	[4],[10]	$ 7,235,671	[1],[2]	$ 7,038,789	[5],[6],[7]
Amortized Cost	[10]	$ 7,323,339	[1]	$ 7,392,488	[5],[6]
Percentage of Net Assets	[10]	1.60%	[1]	1.90%	[5],[6]
Interest Rate	[10]		[1]		[5],[6]
Principal / Par	[10]	$ 7,350,000	[1]	$ 7,425,000	[5],[6]
Maturity Date	[10]	Nov. 18, 2028	[1]	Nov. 18, 2028	[5],[6]
Debt Investments [Member] | Professional Services [Member] | First Lien Senior Secured [Member] | EAB Global, Inc. [Member]
Fair Value	[4],[10]	$ 1,773,812	[1],[2],[8]	$ 1,728,237	[5],[6],[7]
Amortized Cost	[10]	$ 1,767,846	[1],[8]	$ 1,784,394	[5],[6]
Percentage of Net Assets	[10]	0.40%	[1],[8]	0.50%	[5],[6]
Interest Rate	[10]		[1],[8]		[5],[6]
Principal / Par	[10]	$ 1,773,812	[1],[8]	$ 1,791,912	[5],[6]
Maturity Date	[10]	Jun. 28, 2028	[1],[8]	Jun. 28, 2028	[5],[6]
Debt Investments [Member] | Professional Services [Member] | First Lien Senior Secured [Member] | Endurance International Group, Inc., The [Member]
Fair Value	[4],[10]	$ 4,556,705	[1],[2],[8]	$ 4,229,273	[5],[6],[7]
Amortized Cost	[10]	$ 4,584,186	[1],[8]	$ 4,620,144	[5],[6]
Percentage of Net Assets	[10]	1%	[1],[8]	1.20%	[5],[6]
Interest Rate	[10]		[1],[8]		[5],[6]
Principal / Par	[10]	$ 4,638,599	[1],[8]	$ 4,686,175	[5],[6]
Maturity Date	[10]	Feb. 10, 2028	[1],[8]	Feb. 10, 2028	[5],[6]
Debt Investments [Member] | Professional Services [Member] | First Lien Senior Secured [Member] | EP Purchaser, LLC [Member]
Fair Value	[1],[2],[4],[10]	$ 4,922,070
Amortized Cost	[1],[10]	$ 4,913,751
Percentage of Net Assets	[1],[10]	1.10%
Interest Rate	[1],[10]
Principal / Par	[1],[10]	$ 4,974,929
Maturity Date	[1],[10]	Nov. 06, 2028
Debt Investments [Member] | Professional Services [Member] | First Lien Senior Secured [Member] | Genuine Financial Holdings LLC [Member]
Fair Value	[1],[2],[4],[8],[9],[10]	$ 3,986,429
Amortized Cost	[1],[8],[9],[10]	$ 3,932,484
Percentage of Net Assets	[1],[8],[9],[10]	0.90%
Interest Rate	[1],[8],[9],[10]
Principal / Par	[1],[8],[9],[10]	$ 3,990,000
Maturity Date	[1],[8],[9],[10]	Sep. 20, 2030
Debt Investments [Member] | Professional Services [Member] | First Lien Senior Secured [Member] | Inmar, Inc. [Member]
Fair Value	[3],[4],[10]	$ 7,704,737	[1],[2],[8]	$ 7,158,167	[5],[6],[7]
Amortized Cost	[3],[10]	$ 7,537,171	[1],[8]	$ 7,822,586	[5],[6]
Percentage of Net Assets	[3],[10]	1.70%	[1],[8]	2%	[5],[6]
Interest Rate	[3],[10]		[1],[8]		[5],[6]
Principal / Par	[3],[10]	$ 7,782,563	[1],[8]	$ 7,842,418	[5],[6]
Maturity Date	[3],[10]	May 01, 2026	[1],[8]	May 01, 2024	[5],[6]
Debt Investments [Member] | Professional Services [Member] | First Lien Senior Secured [Member] | IVC Acquisition, Ltd [Member]
Fair Value	[1],[2],[4],[9],[10]	$ 5,027,075
Amortized Cost	[1],[9],[10]	$ 4,900,475
Percentage of Net Assets	[1],[9],[10]	1.10%
Interest Rate	[1],[9],[10]
Principal / Par	[1],[9],[10]	$ 5,000,000
Maturity Date	[1],[9],[10]	Nov. 17, 2028
Debt Investments [Member] | Professional Services [Member] | First Lien Senior Secured [Member] | Mitchell International, Inc.[Member]
Fair Value	[4],[10]	$ 9,834,923	[1],[2],[8]	$ 9,175,514	[5],[6],[7]
Amortized Cost	[10]	$ 9,773,159	[1],[8]	$ 9,862,344	[5],[6]
Percentage of Net Assets	[10]	2.10%	[1],[8]	2.50%	[5],[6]
Interest Rate	[10]		[1],[8]		[5],[6]
Principal / Par	[10]	$ 9,825,000	[1],[8]	$ 9,925,000	[5],[6]
Maturity Date	[10]	Oct. 16, 2028	[1],[8]	Oct. 16, 2028	[5],[6]
Debt Investments [Member] | Professional Services [Member] | First Lien Senior Secured [Member] | OMNIA Partners, LLC [Member]
Fair Value	[1],[2],[4],[10]	$ 2,396,244
Amortized Cost	[1],[10]	$ 2,351,405
Percentage of Net Assets	[1],[10]	0.50%
Interest Rate	[1],[10]
Principal / Par	[1],[10]	$ 2,376,731
Maturity Date	[1],[10]	Jul. 25, 2030
Debt Investments [Member] | Professional Services [Member] | First Lien Senior Secured [Member] | PECF USS Intermediate Holding III Corporation [Member]
Fair Value	[3],[4]	$ 3,849,293	[1],[2]	$ 4,145,972	[5],[6],[7]
Amortized Cost	[3]	$ 4,893,280	[1]	$ 4,940,828	[5],[6]
Percentage of Net Assets	[3]	0.80%	[1]	1.10%	[5],[6]
Interest Rate	[3]		[1]		[5],[6]
Principal / Par	[3]	$ 4,900,000	[1]	$ 4,950,000	[5],[6]
Maturity Date	[3]	Nov. 06, 2028	[1]	Nov. 06, 2028	[5],[6]
Debt Investments [Member] | Professional Services [Member] | First Lien Senior Secured [Member] | Project Boost Purchaser, LLC [Member]
Fair Value	[4],[10]	$ 5,862,197	[1],[2]	$ 5,714,261	[5],[6],[7]
Amortized Cost	[10]	$ 5,844,776	[1]	$ 5,899,689	[5],[6]
Percentage of Net Assets	[10]	1.30%	[1]	1.60%	[5],[6]
Interest Rate	[10]		[1]		[5],[6]
Principal / Par	[10]	$ 5,850,000	[1]	$ 5,910,000	[5],[6]
Maturity Date	[10]	Jun. 01, 2026	[1]	Jun. 01, 2026	[5],[6]
Debt Investments [Member] | Professional Services [Member] | First Lien Senior Secured [Member] | Ryan, LLC [Member]
Fair Value	[1],[2],[3],[4]	$ 4,911,040
Amortized Cost	[1],[3]	$ 4,789,346
Percentage of Net Assets	[1],[3]	1.10%
Interest Rate	[1],[3]
Principal / Par	[1],[3]	$ 4,885,714
Maturity Date	[1],[3]	Nov. 08, 2030
Debt Investments [Member] | Professional Services [Member] | First Lien Senior Secured [Member] | Thryv, Inc. [Member]
Fair Value	[4],[10]	$ 4,941,915	[1],[2],[9]	$ 4,791,636	[5],[6],[7],[12]
Amortized Cost	[10]	$ 4,941,411	[1],[9]	$ 4,861,233	[5],[6],[12]
Percentage of Net Assets	[10]	1.10%	[1],[9]	1.30%	[5],[6],[12]
Interest Rate	[10]		[1],[9]		[5],[6],[12]
Principal / Par	[10]	$ 4,935,721	[1],[9]	$ 4,850,226	[5],[6],[12]
Maturity Date	[10]	Feb. 18, 2026	[1],[9]	Feb. 18, 2026	[5],[6],[12]
Debt Investments [Member] | Professional Services [Member] | First Lien Senior Secured [Member] | Castle US Holding Corporation [Member]
Fair Value	[3],[4],[5],[6],[7],[10]			$ 3,758,177
Amortized Cost	[3],[5],[6],[10]			$ 5,981,767
Percentage of Net Assets	[3],[5],[6],[10]			1%
Interest Rate	[3],[5],[6],[10]
Principal / Par	[3],[5],[6],[10]			$ 6,037,233
Maturity Date	[3],[5],[6],[10]			Jan. 29, 2027
Debt Investments [Member] | Professional Services [Member] | First Lien Senior Secured [Member] | Castle US Holding Corporation [Member]
Fair Value	[3],[4],[5],[6],[7]			$ 1,230,508
Amortized Cost	[3],[5],[6]			$ 1,966,699
Percentage of Net Assets	[3],[5],[6]			0.30%
Interest Rate	[3],[5],[6]
Principal / Par	[3],[5],[6]			$ 1,974,737
Maturity Date	[3],[5],[6]			Jan. 29, 2027
Debt Investments [Member] | Professional Services [Member] | Second Lien Senior Secured [Member] | Inmar, Inc. One [Member]
Fair Value	[4],[5],[6],[7],[10]			$ 4,675,000
Amortized Cost	[5],[6],[10]			$ 5,004,820
Percentage of Net Assets	[5],[6],[10]			1.30%
Interest Rate	[5],[6],[10]
Principal / Par	[5],[6],[10]			$ 5,000,000
Maturity Date	[5],[6],[10]			May 01, 2025
Debt Investments [Member] | Aerospace and Defense [Member] | First Lien Senior Secured [Member] | Amentum Government Services Holdings LLC [Member]
Fair Value	[4],[10]	$ 5,923,298	[1],[2],[8]	$ 5,831,944	[5],[6],[7]
Amortized Cost	[10]	$ 5,890,084	[1],[8]	$ 5,944,146	[5],[6]
Percentage of Net Assets	[10]	1.30%	[1],[8]	1.60%	[5],[6]
Interest Rate	[10]		[1],[8]		[5],[6]
Principal / Par	[10]	$ 5,910,000	[1],[8]	$ 5,970,000	[5],[6]
Maturity Date	[10]	Feb. 15, 2029	[1],[8]	Feb. 15, 2029	[5],[6]
Debt Investments [Member] | Aerospace and Defense [Member] | First Lien Senior Secured [Member] | Peraton Corp.[Member]
Fair Value	[3],[4]	$ 4,796,264	[1],[2]	$ 10,414,075	[5],[6],[7],[10]
Amortized Cost	[3]	$ 4,786,723	[1]	$ 10,616,273	[5],[6],[10]
Percentage of Net Assets	[3]	1%	[1]	2.90%	[5],[6],[10]
Interest Rate	[3]		[1]		[5],[6],[10]
Principal / Par	[3]	$ 4,778,345	[1]	$ 10,644,693	[5],[6],[10]
Maturity Date	[3]	Feb. 01, 2028	[1]	Feb. 01, 2028	[5],[6],[10]
Debt Investments [Member] | Aerospace and Defense [Member] | First Lien Senior Secured [Member] | Maxar Technologies, Inc. [Member]
Fair Value	[4],[5],[6],[7],[10],[11],[12]			$ 3,890,709
Amortized Cost	[5],[6],[10],[11],[12]			$ 3,888,979
Percentage of Net Assets	[5],[6],[10],[11],[12]			1.10%
Interest Rate	[5],[6],[10],[11],[12]
Principal / Par	[5],[6],[10],[11],[12]			$ 3,888,979
Maturity Date	[5],[6],[10],[11],[12]			Jun. 14, 2029
Debt Investments [Member] | Aerospace and Defense [Member] | First Lien Senior Secured [Member] | Wencor Group [Member]
Fair Value	[4],[5],[6],[7],[10]			$ 2,906,221
Amortized Cost	[5],[6],[10]			$ 2,913,743
Percentage of Net Assets	[5],[6],[10]			0.80%
Interest Rate	[5],[6],[10]
Principal / Par	[5],[6],[10]			$ 2,976,923
Maturity Date	[5],[6],[10]			Jun. 19, 2026
Debt Investments [Member] | Aerospace and Defense [Member] | Second Lien Senior Secured [Member] | Peraton Corp.[Member]
Fair Value	[4]	$ 2,891,180	[1],[2]	$ 2,783,551	[5],[6],[7]
Amortized Cost		$ 2,949,038	[1]	$ 2,970,059	[5],[6]
Percentage of Net Assets		0.60%	[1]	0.80%	[5],[6]
Interest Rate			[1]		[5],[6]
Principal / Par		$ 2,898,876	[1]	$ 2,912,425	[5],[6]
Maturity Date		Feb. 26, 2029	[1]	Feb. 26, 2029	[5],[6]
Debt Investments [Member] | Metals and Mining [Member] | First Lien Senior Secured [Member] | American Rock Salt Company LLC [Member]
Fair Value	[4],[10]	$ 5,551,177	[1],[2],[8]	$ 5,582,234	[5],[6],[7]
Amortized Cost	[10]	$ 5,848,790	[1],[8]	$ 5,906,545	[5],[6]
Percentage of Net Assets	[10]	1.20%	[1],[8]	1.50%	[5],[6]
Interest Rate	[10]		[1],[8]		[5],[6]
Principal / Par	[10]	$ 5,854,900	[1],[8]	$ 5,914,950	[5],[6]
Maturity Date	[10]	Jun. 09, 2028	[1],[8]	Jun. 09, 2028	[5],[6]
Debt Investments [Member] | Metals and Mining [Member] | First Lien Senior Secured [Member] | Grinding Media Inc. [Member]
Fair Value	[3],[4]	$ 4,887,500	[1],[2],[8]	$ 4,616,563	[5],[6],[7]
Amortized Cost	[3]	$ 4,870,648	[1],[8]	$ 4,916,856	[5],[6]
Percentage of Net Assets	[3]	1.10%	[1],[8]	1.30%	[5],[6]
Interest Rate	[3]		[1],[8]		[5],[6]
Principal / Par	[3]	$ 4,887,500	[1],[8]	$ 4,937,500	[5],[6]
Maturity Date	[3]	Sep. 21, 2028	[1],[8]	Sep. 21, 2028	[5],[6]
Debt Investments [Member] | Metals and Mining [Member] | First Lien Senior Secured [Member] | U.S. Silica Company [Member]
Fair Value	[4],[5],[6],[7],[10],[12]			$ 7,797,697
Amortized Cost	[5],[6],[10],[12]			$ 7,724,787
Percentage of Net Assets	[5],[6],[10],[12]			2.10%
Interest Rate	[5],[6],[10],[12]
Principal / Par	[5],[6],[10],[12]			$ 7,856,622
Maturity Date	[5],[6],[10],[12]			Apr. 25, 2025
Debt Investments [Member] | Metals and Mining [Member] | Second Lien Senior Secured [Member] | American Rock Salt Company LLC [Member]
Fair Value	[4]	$ 2,406,250	[1],[2],[8]	$ 2,640,000	[5],[6],[7]
Amortized Cost		$ 2,770,553	[1],[8]	$ 2,774,395	[5],[6]
Percentage of Net Assets		0.60%	[1],[8]	0.70%	[5],[6]
Interest Rate			[1],[8]		[5],[6]
Principal / Par		$ 2,750,000	[1],[8]	$ 2,750,000	[5],[6]
Maturity Date		Jun. 04, 2029	[1],[8]	Jun. 04, 2029	[5],[6]
Debt Investments [Member] | Household Durables [Member] | First Lien Senior Secured [Member] | Apollo Finco BV [Member]
Fair Value	[1],[2],[4],[8],[9]	$ 810,000
Amortized Cost	[1],[8],[9]	$ 789,613
Percentage of Net Assets	[1],[8],[9]	0.20%
Interest Rate	[1],[8],[9]
Principal / Par	[1],[8],[9]	$ 1,000,000
Maturity Date	[1],[8],[9]	Oct. 02, 2028
Debt Investments [Member] | Household Durables [Member] | First Lien Senior Secured [Member] | Runner Buyer Inc.[Member]
Fair Value	[3],[4]	$ 3,889,079	[1],[2]	$ 3,523,375	[5],[6],[7]
Amortized Cost	[3]	$ 4,876,527	[1]	$ 4,919,797	[5],[6]
Percentage of Net Assets	[3]	0.80%	[1]	1%	[5],[6]
Interest Rate	[3]		[1]		[5],[6]
Principal / Par	[3]	$ 4,912,500	[1]	$ 4,962,500	[5],[6]
Maturity Date	[3]	Oct. 20, 2028	[1]	Oct. 20, 2028	[5],[6]
Debt Investments [Member] | Software [Member] | First Lien Senior Secured [Member] | Aptean Inc [Member]
Fair Value	[1],[2],[3],[4],[8],[10]	$ 8,709,907
Amortized Cost	[1],[3],[8],[10]	$ 8,706,221
Percentage of Net Assets	[1],[3],[8],[10]	1.90%
Interest Rate	[1],[3],[8],[10]
Principal / Par	[1],[3],[8],[10]	$ 8,721,003
Maturity Date	[1],[3],[8],[10]	Apr. 23, 2026
Debt Investments [Member] | Software [Member] | First Lien Senior Secured [Member] | Aptean Inc [Member]
Fair Value	[1],[2],[3],[4],[8]	$ 4,664,524
Amortized Cost	[1],[3],[8]	$ 4,664,524
Percentage of Net Assets	[1],[3],[8]	1%
Interest Rate	[1],[3],[8]
Principal / Par	[1],[3],[8]	$ 4,711,640
Maturity Date	[1],[3],[8]	Dec. 14, 2030
Debt Investments [Member] | Software [Member] | First Lien Senior Secured [Member] | AQA Acquisition Holding, Inc. [Member]
Fair Value	[4],[10]	$ 8,349,604	[1],[2],[8]	$ 8,107,865	[5],[6],[7],[11]
Amortized Cost	[10]	$ 8,250,166	[1],[8]	$ 8,314,473	[5],[6],[11]
Percentage of Net Assets	[10]	1.80%	[1],[8]	2.20%	[5],[6],[11]
Interest Rate	[10]		[1],[8]		[5],[6],[11]
Principal / Par	[10]	$ 8,345,432	[1],[8]	$ 8,431,026	[5],[6],[11]
Maturity Date	[10]	Mar. 03, 2028	[1],[8]	Nov. 19, 2027	[5],[6],[11]
Debt Investments [Member] | Software [Member] | First Lien Senior Secured [Member] | Barracuda Networks, Inc. [Member]
Fair Value	[4],[10]	$ 7,269,558	[1],[2]	$ 7,245,825	[5],[6],[7]
Amortized Cost	[10]	$ 7,238,805	[1]	$ 7,285,329	[5],[6]
Percentage of Net Assets	[10]	1.60%	[1]	2%	[5],[6]
Interest Rate	[10]		[1]		[5],[6]
Principal / Par	[10]	$ 7,425,000	[1]	$ 7,500,000	[5],[6]
Maturity Date	[10]	Aug. 15, 2029	[1]	Apr. 13, 2029	[5],[6]
Debt Investments [Member] | Software [Member] | First Lien Senior Secured [Member] | Boxer Parent Company, Inc. [Member]
Fair Value	[1],[2],[4],[10]	$ 5,043,125
Amortized Cost	[1],[10]	$ 4,950,000
Percentage of Net Assets	[1],[10]	1.10%
Interest Rate	[1],[10]
Principal / Par	[1],[10]	$ 5,000,000
Maturity Date	[1],[10]	Dec. 02, 2028
Debt Investments [Member] | Software [Member] | First Lien Senior Secured [Member] | CDK Global [Member]
Fair Value	[1],[2],[4],[8],[10]	$ 3,997,075
Amortized Cost	[1],[8],[10]	$ 3,857,969
Percentage of Net Assets	[1],[8],[10]	0.90%
Interest Rate	[1],[8],[10]
Principal / Par	[1],[8],[10]	$ 3,970,000
Maturity Date	[1],[8],[10]	Jul. 06, 2029
Debt Investments [Member] | Software [Member] | First Lien Senior Secured [Member] | ECI Software Solutions, Inc. [Member]
Fair Value	[4],[10]	$ 2,840,341	[1],[2],[8]	$ 6,607,490	[5],[6],[7]
Amortized Cost	[10]	$ 2,828,591	[1],[8]	$ 6,841,429	[5],[6]
Percentage of Net Assets	[10]	0.60%	[1],[8]	1.80%	[5],[6]
Interest Rate	[10]		[1],[8]		[5],[6]
Principal / Par	[10]	$ 2,835,691	[1],[8]	$ 6,864,925	[5],[6]
Maturity Date	[10]	Sep. 30, 2027	[1],[8]	Sep. 30, 2027	[5],[6]
Debt Investments [Member] | Software [Member] | First Lien Senior Secured [Member] | Enverus Holdings, Inc. [Member]
Fair Value	[1],[2],[3],[4]	$ 6,113,547
Amortized Cost	[1],[3]	$ 6,113,561
Percentage of Net Assets	[1],[3]	1.30%
Interest Rate	[1],[3]
Principal / Par	[1],[3]	$ 6,216,216
Maturity Date	[1],[3]	Dec. 22, 2029
Debt Investments [Member] | Software [Member] | First Lien Senior Secured [Member] | Roper Industrial Products Investment Co. [Member]
Fair Value	[1],[2],[4],[8],[10]	$ 3,992,331
Amortized Cost	[1],[8],[10]	$ 3,932,675
Percentage of Net Assets	[1],[8],[10]	0.90%
Interest Rate	[1],[8],[10]
Principal / Par	[1],[8],[10]	$ 3,970,000
Maturity Date	[1],[8],[10]	Oct. 23, 2028
Debt Investments [Member] | Software [Member] | First Lien Senior Secured [Member] | Flexera Software LLC [Member]
Fair Value	[3],[4],[10]	$ 8,716,613	[1],[2],[8]	$ 8,503,129	[5],[6],[7]
Amortized Cost	[3],[10]	$ 8,692,911	[1],[8]	$ 8,817,772	[5],[6]
Percentage of Net Assets	[3],[10]	1.90%	[1],[8]	2.30%	[5],[6]
Interest Rate	[3],[10]		[1],[8]		[5],[6]
Principal / Par	[3],[10]	$ 8,710,472	[1],[8]	$ 8,837,266	[5],[6]
Maturity Date	[3],[10]	Jan. 26, 2028	[1],[8]	Jan. 26, 2028	[5],[6]
Debt Investments [Member] | Software [Member] | First Lien Senior Secured [Member] | Help/Systems Holdings, Inc. [Member]
Fair Value	[4],[10]	$ 6,442,373	[1],[2],[8]	$ 6,193,485	[5],[6],[7]
Amortized Cost	[10]	$ 6,751,274	[1],[8]	$ 6,812,195	[5],[6]
Percentage of Net Assets	[10]	1.40%	[1],[8]	1.70%	[5],[6]
Interest Rate	[10]		[1],[8]		[5],[6]
Principal / Par	[10]	$ 6,778,876	[1],[8]	$ 6,849,306	[5],[6]
Maturity Date	[10]	Nov. 19, 2026	[1],[8]	Nov. 19, 2026	[5],[6]
Debt Investments [Member] | Software [Member] | First Lien Senior Secured [Member] | Solved, Inc [Member]
Fair Value	[1],[2],[4],[10]	$ 2,608,125
Amortized Cost	[1],[10]	$ 2,574,027
Percentage of Net Assets	[1],[10]	0.60%
Interest Rate	[1],[10]
Principal / Par	[1],[10]	$ 2,600,000
Maturity Date	[1],[10]	Oct. 05, 2030
Debt Investments [Member] | Software [Member] | First Lien Senior Secured [Member] | Ivanti Software, Inc. [Member]
Fair Value	[1],[2],[4],[8],[10]	$ 924,079
Amortized Cost	[1],[8],[10]	$ 971,445
Percentage of Net Assets	[1],[8],[10]	0.20%
Interest Rate	[1],[8],[10]
Principal / Par	[1],[8],[10]	$ 972,500
Maturity Date	[1],[8],[10]	Dec. 01, 2027
Debt Investments [Member] | Software [Member] | First Lien Senior Secured [Member] | Ivanti Software, Inc. [Member]
Fair Value	[4],[10]	$ 6,523,722	[1],[2]	$ 778,022	[5],[6],[7]
Amortized Cost	[10]	$ 6,816,310	[1]	$ 980,602	[5],[6]
Percentage of Net Assets	[10]	1.40%	[1]	0.20%	[5],[6]
Interest Rate	[10]		[1]		[5],[6]
Principal / Par	[10]	$ 6,852,938	[1]	$ 982,500	[5],[6]
Maturity Date	[10]	Dec. 01, 2027	[1]	Dec. 01, 2027	[5],[6]
Debt Investments [Member] | Software [Member] | First Lien Senior Secured [Member] | Magenta Buyer LLC [Member]
Fair Value	[4],[10]	$ 3,857,219	[1],[2],[8]	$ 4,687,818	[5],[6],[7]
Amortized Cost	[10]	$ 5,353,819	[1],[8]	$ 5,401,766	[5],[6]
Percentage of Net Assets	[10]	0.80%	[1],[8]	1.30%	[5],[6]
Interest Rate	[10]		[1],[8]		[5],[6]
Principal / Par	[10]	$ 5,390,000	[1],[8]	$ 5,445,000	[5],[6]
Maturity Date	[10]	Jul. 27, 2028	[1],[8]	Jul. 27, 2028	[5],[6]
Debt Investments [Member] | Software [Member] | First Lien Senior Secured [Member] | Maverick 1, LLC [Member]
Fair Value	[1],[2],[4]	$ 4,931,469
Amortized Cost	[1]	$ 4,751,890
Percentage of Net Assets	[1]	1.10%
Interest Rate	[1]
Principal / Par	[1]	$ 4,975,000
Maturity Date	[1]	May 18, 2028
Debt Investments [Member] | Software [Member] | First Lien Senior Secured [Member] | Mermaid Bidco, Inc. [Member]
Fair Value	[1],[2],[4]	$ 2,002,438
Amortized Cost	[1]	$ 1,954,539
Percentage of Net Assets	[1]	0.40%
Interest Rate	[1]
Principal / Par	[1]	$ 1,990,000
Maturity Date	[1]	Dec. 22, 2027
Debt Investments [Member] | Software [Member] | First Lien Senior Secured [Member] | Orchid Merger Sub II, LLC [Member]
Fair Value	[4],[10]	$ 2,477,444	[1],[2],[9]	$ 3,789,844	[7],[12]
Amortized Cost	[10]	$ 3,949,028	[1],[9]	$ 4,127,214	[12]
Percentage of Net Assets	[10]	0.50%	[1],[9]	1%	[12]
Interest Rate	[10]		[1],[9]		[12]
Principal / Par	[10]	$ 4,106,250	[1],[9]	$ 4,331,250	[12]
Maturity Date	[10]	Jul. 27, 2027	[1],[9]	May 12, 2027	[12]
Debt Investments [Member] | Software [Member] | First Lien Senior Secured [Member] | Project Alpha Intermediate Holding, Inc [Member]
Fair Value	[4],[10]	$ 8,059,160	[1],[2]	$ 8,167,022	[5],[6],[7],[11]
Amortized Cost	[10]	$ 7,842,603	[1]	$ 8,289,560	[5],[6],[11]
Percentage of Net Assets	[10]	1.70%	[1]	2.20%	[5],[6],[11]
Interest Rate	[10]		[1]		[5],[6],[11]
Principal / Par	[10]	$ 8,000,000	[1]	$ 8,350,738	[5],[6],[11]
Maturity Date	[10]	Oct. 28, 2030	[1]	Apr. 26, 2024	[5],[6],[11]
Debt Investments [Member] | Software [Member] | First Lien Senior Secured [Member] | Quest Software US Holdings Inc. [Member]
Fair Value	[1],[2],[4],[10]	$ 7,213,149
Amortized Cost	[1],[10]	$ 9,301,754
Percentage of Net Assets	[1],[10]	1.60%
Interest Rate	[1],[10]
Principal / Par	[1],[10]	$ 9,381,250
Maturity Date	[1],[10]	Feb. 01, 2029
Debt Investments [Member] | Software [Member] | First Lien Senior Secured [Member] | Renaissance Holding Corp. [Member]
Fair Value	[1],[2],[4],[10]	$ 7,765,335
Amortized Cost	[1],[10]	$ 7,559,120
Percentage of Net Assets	[1],[10]	1.70%
Interest Rate	[1],[10]
Principal / Par	[1],[10]	$ 7,727,778
Maturity Date	[1],[10]	Apr. 05, 2030
Debt Investments [Member] | Software [Member] | First Lien Senior Secured [Member] | Rocket Software, Inc one [Member]
Fair Value	[4],[10]	$ 8,207,407	[1],[2]	$ 4,762,855	[5],[6],[7]
Amortized Cost	[10]	$ 8,117,739	[1]	$ 4,912,516	[5],[6]
Percentage of Net Assets	[10]	1.80%	[1]	1.30%	[5],[6]
Interest Rate	[10]		[1]		[5],[6]
Principal / Par	[10]	$ 8,337,684	[1]	$ 4,932,406	[5],[6]
Maturity Date	[10]	Nov. 28, 2028	[1]	Nov. 28, 2025	[5],[6]
Debt Investments [Member] | Software [Member] | First Lien Senior Secured [Member] | Sophia, L.P. [Member]
Fair Value	[4],[10]	$ 6,168,929	[1],[2]	$ 1,941,912	[5],[6],[7]
Amortized Cost	[10]	$ 6,137,486	[1]	$ 1,971,843	[5],[6]
Percentage of Net Assets	[10]	1.30%	[1]	0.50%	[5],[6]
Interest Rate	[10]		[1]		[5],[6]
Principal / Par	[10]	$ 6,157,383	[1]	$ 1,990,000	[5],[6]
Maturity Date	[10]	Oct. 07, 2027	[1]	Oct. 07, 2027	[5],[6]
Debt Investments [Member] | Software [Member] | First Lien Senior Secured [Member] | Sovos Compliance, LLC [Member]
Fair Value	[3],[4]	$ 3,883,716	[1],[2]	$ 3,660,771	[5],[6],[7]
Amortized Cost	[3]	$ 3,918,460	[1]	$ 3,955,834	[5],[6]
Percentage of Net Assets	[3]	0.80%	[1]	1%	[5],[6]
Interest Rate	[3]		[1]		[5],[6]
Principal / Par	[3]	$ 3,922,945	[1]	$ 3,962,945	[5],[6]
Maturity Date	[3]	Jul. 28, 2028	[1]	Jul. 28, 2028	[5],[6]
Debt Investments [Member] | Software [Member] | First Lien Senior Secured [Member] | UKG Inc. [Member]
Fair Value	[4],[10]	$ 5,002,586	[1],[2]	$ 4,217,746	[5],[6],[7]
Amortized Cost	[10]	$ 4,869,333	[1]	$ 4,352,517	[5],[6]
Percentage of Net Assets	[10]	1.10%	[1]	1.20%	[5],[6]
Interest Rate	[10]		[1]		[5],[6]
Principal / Par	[10]	$ 4,975,000	[1]	$ 4,365,880	[5],[6]
Maturity Date	[10]	May 04, 2026	[1]	Apr. 08, 2026	[5],[6]
Debt Investments [Member] | Software [Member] | First Lien Senior Secured [Member] | Veracode [Member]
Fair Value	[4],[10]	$ 8,247,375	[1],[2]	$ 8,245,878	[5],[6],[7]
Amortized Cost	[10]	$ 8,653,769	[1]	$ 8,735,737	[5],[6]
Percentage of Net Assets	[10]	1.80%	[1]	2.30%	[5],[6]
Interest Rate	[10]		[1]		[5],[6]
Principal / Par	[10]	$ 8,690,000	[1]	$ 8,778,000	[5],[6]
Maturity Date	[10]	Apr. 20, 2029	[1]	Apr. 20, 2029	[5],[6]
Debt Investments [Member] | Software [Member] | First Lien Senior Secured [Member] | Aptean Inc [Member]
Fair Value	[3],[4],[5],[6],[7],[10]			$ 7,492,562
Amortized Cost	[3],[5],[6],[10]			$ 7,806,146
Percentage of Net Assets	[3],[5],[6],[10]			2.10%
Interest Rate	[3],[5],[6],[10]
Principal / Par	[3],[5],[6],[10]			$ 7,804,752
Maturity Date	[3],[5],[6],[10]			Apr. 23, 2026
Debt Investments [Member] | Software [Member] | First Lien Senior Secured [Member] | CDK Global [Member]
Fair Value	[4],[5],[6],[7],[10]			$ 3,970,680
Amortized Cost	[5],[6],[10]			$ 3,883,280
Percentage of Net Assets	[5],[6],[10]			1.10%
Interest Rate	[5],[6],[10]
Principal / Par	[5],[6],[10]			$ 4,000,000
Maturity Date	[5],[6],[10]			Jul. 06, 2029
Debt Investments [Member] | Software [Member] | First Lien Senior Secured [Member] | Hyland Software, Inc. [Member]
Fair Value	[4],[5],[6],[7],[10]			$ 4,849,551
Amortized Cost	[5],[6],[10]			$ 4,904,261
Percentage of Net Assets	[5],[6],[10]			1.30%
Interest Rate	[5],[6],[10]
Principal / Par	[5],[6],[10]			$ 4,905,349
Maturity Date	[5],[6],[10]			Jul. 01, 2024
Debt Investments [Member] | Software [Member] | First Lien Senior Secured [Member] | Ivanti Software, Inc. One [Member]
Fair Value	[4],[5],[6],[7],[10]			$ 5,512,917
Amortized Cost	[5],[6],[10]			$ 6,877,857
Percentage of Net Assets	[5],[6],[10]			1.50%
Interest Rate	[5],[6],[10]
Principal / Par	[5],[6],[10]			$ 6,922,688
Maturity Date	[5],[6],[10]			Dec. 01, 2027
Debt Investments [Member] | Software [Member] | First Lien Senior Secured [Member] | Quest Software US Holdings Inc. [Member]
Fair Value	[4],[5],[6],[7],[10]			$ 7,353,001
Amortized Cost	[5],[6],[10]			$ 9,385,131
Percentage of Net Assets	[5],[6],[10]			2%
Interest Rate	[5],[6],[10]
Principal / Par	[5],[6],[10]			$ 9,476,250
Maturity Date	[5],[6],[10]			Feb. 01, 2029
Debt Investments [Member] | Software [Member] | First Lien Senior Secured [Member] | Renaissance Holdings Corp. [Member]
Fair Value	[4],[5],[6],[7],[10]			$ 4,795,900
Amortized Cost	[5],[6],[10]			$ 4,836,940
Percentage of Net Assets	[5],[6],[10]			1.30%
Interest Rate	[5],[6],[10]
Principal / Par	[5],[6],[10]			$ 4,975,000
Maturity Date	[5],[6],[10]			Apr. 01, 2027
Debt Investments [Member] | Software [Member] | First Lien Senior Secured [Member] | Rocket Software, Inc [Member]
Fair Value	[4],[5],[6],[7],[10],[11]			$ 3,364,823
Amortized Cost	[5],[6],[10],[11]			$ 3,377,477
Percentage of Net Assets	[5],[6],[10],[11]			0.90%
Interest Rate	[5],[6],[10],[11]
Principal / Par	[5],[6],[10],[11]			$ 3,490,933
Maturity Date	[5],[6],[10],[11]			Nov. 28, 2025
Debt Investments [Member] | Software [Member] | Second Lien Senior Secured [Member] | Barracuda Networks, Inc. [Member]
Fair Value	[4]	$ 2,681,880	[1],[2],[8]	$ 2,741,250	[5],[6],[7]
Amortized Cost		$ 2,919,701	[1],[8]	$ 2,912,610	[5],[6]
Percentage of Net Assets		0.60%	[1],[8]	0.80%	[5],[6]
Interest Rate			[1],[8]		[5],[6]
Principal / Par		$ 3,000,000	[1],[8]	$ 3,000,000	[5],[6]
Maturity Date		Aug. 15, 2030	[1],[8]	May 17, 2030	[5],[6]
Debt Investments [Member] | Software [Member] | Second Lien Senior Secured [Member] | Help/Systems Holdings, Inc. [Member]
Fair Value	[4]	$ 3,004,386	[1],[2],[8]	$ 2,911,263	[5],[6],[7]
Amortized Cost		$ 3,659,888	[1],[8]	$ 3,663,047	[5],[6]
Percentage of Net Assets		0.70%	[1],[8]	0.80%	[5],[6]
Interest Rate			[1],[8]		[5],[6]
Principal / Par		$ 3,656,217	[1],[8]	$ 3,656,217	[5],[6]
Maturity Date		Nov. 19, 2027	[1],[8]	Nov. 19, 2027	[5],[6]
Debt Investments [Member] | Software [Member] | Second Lien Senior Secured [Member] | Magenta Buyer LLC [Member]
Fair Value	[4]	$ 1,900,000	[1],[2],[8]	$ 1,755,000	[5],[6],[7]
Amortized Cost		$ 4,991,100	[1],[8]	$ 3,011,509	[5],[6]
Percentage of Net Assets		0.40%	[1],[8]	0.50%	[5],[6]
Interest Rate			[1],[8]		[5],[6]
Principal / Par		$ 5,000,000	[1],[8]	$ 3,000,000	[5],[6]
Maturity Date		Jul. 27, 2029	[1],[8]	Dec. 01, 2028	[5],[6]
Debt Investments [Member] | Software [Member] | Second Lien Senior Secured [Member] | Ivanti Software, Inc. Two [Member]
Fair Value	[4]	$ 2,434,995	[1],[2],[8]	$ 3,975,000	[5],[6],[7]
Amortized Cost		$ 3,009,723	[1],[8]	$ 4,990,886	[5],[6],[7]
Percentage of Net Assets		0.50%	[1],[8]	1.10%	[5],[6]
Interest Rate			[1],[8]		[5],[6]
Principal / Par		$ 3,000,000	[1],[8]	$ 5,000,000	[5],[6]
Maturity Date		Dec. 01, 2028	[1],[8]	Jul. 27, 2029	[5],[6]
Debt Investments [Member] | Software [Member] | Second Lien Senior Secured [Member] | Quest Software US Holdings Inc. [Member]
Fair Value	[1],[2],[4]	$ 1,811,775
Amortized Cost	[1]	$ 2,962,166
Percentage of Net Assets	[1]	0.40%
Interest Rate	[1]
Principal / Par	[1]	$ 3,000,000
Maturity Date	[1]	Feb. 01, 2030
Debt Investments [Member] | Software [Member] | Second Lien Senior Secured [Member] | Epicor Software Corporation [Member]
Fair Value	[4],[5],[6],[7],[10]			$ 2,968,500
Amortized Cost	[5],[6],[10]			$ 3,044,723
Percentage of Net Assets	[5],[6],[10]			0.80%
Interest Rate	[5],[6],[10]
Principal / Par	[5],[6],[10]			$ 3,000,000
Maturity Date	[5],[6],[10]			Jul. 31, 2028
Debt Investments [Member] | Software [Member] | Second Lien Senior Secured [Member] | Quest Software US Holdings Inc. [Member]
Fair Value	[4],[5],[6],[7]			$ 1,851,255
Amortized Cost	[5],[6]			$ 2,958,821
Percentage of Net Assets	[5],[6]			0.50%
Interest Rate	[5],[6]
Principal / Par	[5],[6]			$ 3,000,000
Maturity Date	[5],[6]			Feb. 01, 2030
Debt Investments [Member] | Machinery [Member] | First Lien Senior Secured [Member] | Aramsco, Inc [Member]
Fair Value	[1],[2],[3],[4],[8]	$ 4,091,137
Amortized Cost	[1],[3],[8]	$ 3,991,632
Percentage of Net Assets	[1],[3],[8]	0.90%
Interest Rate	[1],[3],[8]
Principal / Par	[1],[3],[8]	$ 4,087,129
Maturity Date	[1],[3],[8]	Oct. 10, 2030
Debt Investments [Member] | Machinery [Member] | First Lien Senior Secured [Member] | CPM Holdings, Inc. [Member]
Fair Value	[1],[2],[4],[8],[10]	$ 4,068,569
Amortized Cost	[1],[8],[10]	$ 3,991,878
Percentage of Net Assets	[1],[8],[10]	0.90%
Interest Rate	[1],[8],[10]
Principal / Par	[1],[8],[10]	$ 4,050,000
Maturity Date	[1],[8],[10]	Sep. 27, 2028
Debt Investments [Member] | Machinery [Member] | First Lien Senior Secured [Member] | Gloves Buyer, Inc. [Member]
Fair Value	[1],[2],[4]	$ 1,970,063
Amortized Cost	[1]	$ 1,929,386
Percentage of Net Assets	[1]	0.40%
Interest Rate	[1]
Principal / Par	[1]	$ 1,995,000
Maturity Date	[1]	Dec. 29, 2027
Debt Investments [Member] | Machinery [Member] | First Lien Senior Secured [Member] | PT Intermediate Holdings III LLC [Member]
Fair Value	[3],[4]	$ 492,478	[1],[2]	$ 2,227,896	[5],[6],[7]
Amortized Cost	[3]	$ 487,340	[1]	$ 2,287,978	[5],[6]
Percentage of Net Assets	[3]	0.10%	[1]	0.60%	[5],[6]
Interest Rate	[3]		[1]		[5],[6]
Principal / Par	[3]	$ 491,250	[1]	$ 2,296,800	[5],[6]
Maturity Date	[3]	Nov. 01, 2028	[1]	Nov. 01, 2028	[5],[6]
Debt Investments [Member] | Machinery [Member] | First Lien Senior Secured [Member] | PT Intermediate Holdings III, LLC [Member]
Fair Value	[1],[2],[3],[4]	$ 1,509,113
Amortized Cost	[1],[3]	$ 1,494,290
Percentage of Net Assets	[1],[3]	0.30%
Interest Rate	[1],[3]
Principal / Par	[1],[3]	$ 1,505,350
Maturity Date	[1],[3]	Nov. 01, 2028
Debt Investments [Member] | Machinery [Member] | First Lien Senior Secured [Member] | PT Intermediate Holdings III, LLC [Member]
Fair Value	[1],[2],[3],[4]	$ 2,279,284
Amortized Cost	[1],[3]	$ 2,267,494
Percentage of Net Assets	[1],[3]	0.50%
Interest Rate	[1],[3]
Principal / Par	[1],[3]	$ 2,273,600
Maturity Date	[1],[3]	Nov. 01, 2028
Debt Investments [Member] | Machinery [Member] | First Lien Senior Secured [Member] | PT Intermediate Holdings III LLC [Member]
Fair Value	[1],[2],[3],[4]	$ 2,102,443
Amortized Cost	[1],[3]	$ 2,097,200
Percentage of Net Assets	[1],[3]	0.50%
Interest Rate	[1],[3]
Principal / Par	[1],[3]	$ 2,097,200
Maturity Date	[1],[3]	Nov. 01, 2028
Debt Investments [Member] | Machinery [Member] | First Lien Senior Secured [Member] | PT Intermediate Holdings III, LLC [Member]
Fair Value	[1],[2],[4]	$ 1,424,623
Amortized Cost	[1]	$ 1,388,314
Percentage of Net Assets	[1]	0.30%
Interest Rate	[1]
Principal / Par	[1]	$ 1,409,701
Maturity Date	[1]	Nov. 01, 2028
Debt Investments [Member] | Machinery [Member] | First Lien Senior Secured [Member] | PT Intermediate Holdings III LLC One [Member]
Fair Value	[3],[4],[5],[6],[7]			$ 481,363
Amortized Cost	[3],[5],[6]			$ 491,647
Percentage of Net Assets	[3],[5],[6]			0.10%
Interest Rate	[3],[5],[6]
Principal / Par	[3],[5],[6]			$ 496,250
Maturity Date	[3],[5],[6]			Nov. 01, 2028
Debt Investments [Member] | Machinery [Member] | First Lien Senior Secured [Member] | PT Intermediate Holdings III LLC Two [Member]
Fair Value	[3],[4],[5],[6],[7]			$ 1,475,128
Amortized Cost	[3],[5],[6]			$ 1,507,724
Percentage of Net Assets	[3],[5],[6]			0.40%
Interest Rate	[3],[5],[6]
Principal / Par	[3],[5],[6]			$ 1,520,750
Maturity Date	[3],[5],[6]			Nov. 01, 2028
Debt Investments [Member] | Machinery [Member] | First Lien Senior Secured [Member] | PT Intermediate Spider DD T/L (Parts Town) [Member]
Fair Value	[3],[4],[5],[6],[7]			$ 2,055,042
Amortized Cost	[3],[5],[6]			$ 2,118,600
Percentage of Net Assets	[3],[5],[6]			0.60%
Interest Rate	[3],[5],[6]
Principal / Par	[3],[5],[6]			$ 2,118,600
Maturity Date	[3],[5],[6]			Nov. 01, 2028
Debt Investments [Member] | Chemicals [Member] | First Lien Senior Secured [Member] | ARC Falcon I Inc. [Member]
Fair Value	[4],[10]	$ 4,866,505	[1],[2],[8]	$ 3,740,771	[5],[6],[7]
Amortized Cost	[10]	$ 4,889,855	[1],[8]	$ 4,298,413	[5],[6]
Percentage of Net Assets	[10]	1.10%	[1],[8]	1%	[5],[6]
Interest Rate	[10]		[1],[8]		[5],[6]
Principal / Par	[10]	$ 4,906,369	[1],[8]	$ 4,319,427	[5],[6]
Maturity Date	[10]	Aug. 31, 2028	[1],[8]	Aug. 31, 2028	[5],[6]
Debt Investments [Member] | Chemicals [Member] | First Lien Senior Secured [Member] | B’laster Holdings, LLC [Member]
Fair Value	[1],[2],[3],[4]	$ 4,362,774
Amortized Cost	[1],[3]	$ 4,342,011
Percentage of Net Assets	[1],[3]	0.90%
Interest Rate	[1],[3]
Principal / Par	[1],[3]	$ 4,433,334
Maturity Date	[1],[3]	Oct. 16, 2029
Debt Investments [Member] | Chemicals [Member] | First Lien Senior Secured [Member] | Momentive Performance Materials USA, LLC [Member]
Fair Value	[1],[2],[4],[8],[10]	$ 3,732,982
Amortized Cost	[1],[8],[10]	$ 3,708,614
Percentage of Net Assets	[1],[8],[10]	0.80%
Interest Rate	[1],[8],[10]
Principal / Par	[1],[8],[10]	$ 3,845,938
Maturity Date	[1],[8],[10]	Mar. 29, 2028
Debt Investments [Member] | Chemicals [Member] | First Lien Senior Secured [Member] | PMHC II Inc. [Member]
Fair Value	[4],[10]	$ 6,266,301	[1],[2]	$ 5,601,927	[5],[6],[7]
Amortized Cost	[10]	$ 6,474,251	[1]	$ 6,532,502	[5],[6]
Percentage of Net Assets	[10]	1.40%	[1]	1.50%	[5],[6]
Interest Rate	[10]		[1]		[5],[6]
Principal / Par	[10]	$ 6,522,438	[1]	$ 6,588,488	[5],[6]
Maturity Date	[10]	Feb. 02, 2029	[1]	Feb. 02, 2029	[5],[6]
Debt Investments [Member] | Chemicals [Member] | First Lien Senior Secured [Member] | Rohm Holding GMBH [Member]
Fair Value	[1],[2],[3],[4],[9],[10]	$ 7,768,962
Amortized Cost	[1],[3],[9],[10]	$ 8,745,516
Percentage of Net Assets	[1],[3],[9],[10]	1.70%
Interest Rate	[1],[3],[9],[10]
Principal / Par	[1],[3],[9],[10]	$ 8,753,760
Maturity Date	[1],[3],[9],[10]	Jul. 31, 2026
Debt Investments [Member] | Chemicals [Member] | First Lien Senior Secured [Member] | Aruba Investments Holdings, LLC [Member]
Fair Value	[4],[5],[6],[7],[10]			$ 2,400,178
Amortized Cost	[5],[6],[10]			$ 2,437,480
Percentage of Net Assets	[5],[6],[10]			0.70%
Interest Rate	[5],[6],[10]
Principal / Par	[5],[6],[10]			$ 2,463,819
Maturity Date	[5],[6],[10]			Oct. 28, 2027
Debt Investments [Member] | Chemicals [Member] | First Lien Senior Secured [Member] | Venator Materials LLC [Member]
Fair Value	[4],[5],[6],[7],[10],[11],[12]			$ 4,021,189
Amortized Cost	[5],[6],[10],[11],[12]			$ 3,934,548
Percentage of Net Assets	[5],[6],[10],[11],[12]			1.10%
Interest Rate	[5],[6],[10],[11],[12]
Principal / Par	[5],[6],[10],[11],[12]			$ 4,077,252
Maturity Date	[5],[6],[10],[11],[12]			Nov. 08, 2027
Debt Investments [Member] | Chemicals [Member] | First Lien Senior Secured [Member] | PQ Performance Chemicals [Member]
Fair Value	[4],[5],[6],[7],[10]			$ 4,830,383
Amortized Cost	[5],[6],[10]			$ 4,947,652
Percentage of Net Assets	[5],[6],[10]			1.30%
Interest Rate	[5],[6],[10]
Principal / Par	[5],[6],[10]			$ 4,950,000
Maturity Date	[5],[6],[10]			Apr. 28, 2028
Debt Investments [Member] | Chemicals [Member] | First Lien Senior Secured [Member] | Rohm Holding GMBH One [Member][
Fair Value	[3],[4],[7],[10],[12]			$ 7,418,897
Amortized Cost	[3],[10],[12]			$ 8,830,408
Percentage of Net Assets	[3],[10],[12]			2%
Interest Rate	[3],[10],[12]
Principal / Par	[3],[10],[12]			$ 8,845,183
Maturity Date	[3],[10],[12]			Jul. 31, 2026
Debt Investments [Member] | Chemicals [Member] | Second Lien Senior Secured [Member] | ARC Falcon I Inc. [Member]
Fair Value	[4],[10]	$ 1,815,000	[1],[2],[8]	$ 1,745,000	[5],[6],[7]
Amortized Cost	[10]	$ 1,984,833	[1],[8]	$ 1,982,524	[5],[6]
Percentage of Net Assets	[10]	0.40%	[1],[8]	0.50%	[5],[6]
Interest Rate	[10]		[1],[8]		[5],[6]
Principal / Par	[10]	$ 2,000,000	[1],[8]	$ 2,000,000	[5],[6]
Maturity Date	[10]	Sep. 24, 2029	[1],[8]	Sep. 24, 2029	[5],[6]
Debt Investments [Member] | Chemicals [Member] | Second Lien Senior Secured [Member] | Aruba Investments, Inc. [Member]
Fair Value	[1],[2],[4],[8],[10]	$ 2,217,813
Amortized Cost	[1],[8],[10]	$ 2,322,955
Percentage of Net Assets	[1],[8],[10]	0.50%
Interest Rate	[1],[8],[10]
Principal / Par	[1],[8],[10]	$ 2,350,000
Maturity Date	[1],[8],[10]	Oct. 27, 2028
Debt Investments [Member] | Chemicals [Member] | Second Lien Senior Secured [Member] | KOBE US Midco 2 Inc [Member]
Fair Value	[4]	$ 1,506,225	[1],[2]	$ 1,332,888	[5],[7]
Amortized Cost		$ 1,888,052	[1]	$ 1,884,529	[5]
Percentage of Net Assets		0.30%	[1]	0.40%	[5]
Interest Rate			[1]	9.25%	[5]
Principal / Par		$ 1,995,000	[1]	$ 1,900,000	[5]
Maturity Date		Nov. 01, 2026	[1]	Nov. 01, 2026	[5]
Debt Investments [Member] | Chemicals [Member] | Second Lien Senior Secured [Member] | Aruba Investments, Inc. [Member]
Fair Value	[4],[5],[6],[7],[10]			$ 2,150,250
Amortized Cost	[5],[6],[10]			$ 2,318,902
Percentage of Net Assets	[5],[6],[10]			0.60%
Interest Rate	[5],[6],[10]
Principal / Par	[5],[6],[10]			$ 2,350,000
Maturity Date	[5],[6],[10]			Oct. 27, 2028
Debt Investments [Member] | Diversified Financial Services [Member] | First Lien Senior Secured [Member] | Aretec Group, Inc [Member]
Fair Value	[1],[2],[4],[8],[10]	$ 4,990,860
Amortized Cost	[1],[8],[10]	$ 4,838,877
Percentage of Net Assets	[1],[8],[10]	1.10%
Interest Rate	[1],[8],[10]
Principal / Par	[1],[8],[10]	$ 4,987,469
Maturity Date	[1],[8],[10]	Aug. 09, 2030
Debt Investments [Member] | Diversified Financial Services [Member] | First Lien Senior Secured [Member] | Deerfield Dakota Holding, LLC [Member]
Fair Value	[4],[10]	$ 4,788,813	[1],[2],[8]	$ 4,564,999	[5],[6],[7]
Amortized Cost	[10]	$ 4,785,512	[1],[8]	$ 4,824,100	[5],[6]
Percentage of Net Assets	[10]	1%	[1],[8]	1.30%	[5],[6]
Interest Rate	[10]		[1],[8]		[5],[6]
Principal / Par	[10]	$ 4,825,000	[1],[8]	$ 4,875,000	[5],[6]
Maturity Date	[10]	Feb. 25, 2027	[1],[8]	Feb. 25, 2027	[5],[6]
Debt Investments [Member] | Diversified Financial Services [Member] | First Lien Senior Secured [Member] | Helios Software Holdings, Inc. [Member]
Fair Value	[1],[2],[4],[8],[9],[10]	$ 2,501,825
Amortized Cost	[1],[8],[9],[10]	$ 2,403,593
Percentage of Net Assets	[1],[8],[9],[10]	0.50%
Interest Rate	[1],[9],[10]
Principal / Par	[1],[8],[9],[10]	$ 2,500,000
Maturity Date	[1],[8],[9],[10]	Jul. 18, 2030
Debt Investments [Member] | Diversified Financial Services [Member] | First Lien Senior Secured [Member] | Mariner Wealth Advisors, LLC [Member]
Fair Value	[3],[4]	$ 4,964,253	[1],[2],[8]	$ 2,891,250	[5],[6],[7],[11]
Amortized Cost	[3]	$ 4,804,638	[1],[8]	$ 2,865,000	[5],[6],[11]
Percentage of Net Assets	[3]	1.10%	[1],[8]	0.80%	[5],[6],[11]
Interest Rate	[3]		[1],[8]		[5],[6],[11]
Principal / Par	[3]	$ 4,954,962	[1],[8]	$ 3,000,000	[5],[6],[11]
Maturity Date	[3]	Aug. 18, 2028	[1],[8]	Aug. 18, 2028	[5],[6],[11]
Debt Investments [Member] | Diversified Financial Services [Member] | First Lien Senior Secured [Member] | Minotaur Acquisition, Inc.[Member]
Fair Value	[3],[4],[10]	$ 11,767,918	[1],[2],[8]	$ 11,356,411	[5],[6],[7]
Amortized Cost	[3],[10]	$ 11,750,011	[1],[8]	$ 12,017,475	[5],[6]
Percentage of Net Assets	[3],[10]	2.50%	[1],[8]	3.10%	[5],[6]
Interest Rate	[3],[10]		[1],[8]		[5],[6]
Principal / Par	[3],[10]	$ 11,820,011	[1],[8]	$ 11,944,106	[5],[6]
Maturity Date	[3],[10]	Mar. 27, 2026	[1],[8]	Mar. 27, 2026	[5],[6]
Debt Investments [Member] | Diversified Financial Services [Member] | First Lien Senior Secured [Member] | Nexus Buyer LLC [Member]
Fair Value	[1],[2],[4],[10]	$ 4,975,025
Amortized Cost	[1],[10]	$ 4,850,569
Percentage of Net Assets	[1],[10]	1.10%
Interest Rate	[1],[10]
Principal / Par	[1],[10]	$ 5,000,000
Maturity Date	[1],[10]	Dec. 11, 2028
Debt Investments [Member] | Diversified Financial Services [Member] | First Lien Senior Secured [Member] | The Edelman Financial Center, LLC [Member]
Fair Value	[1],[2],[4],[10]	$ 7,800,817
Amortized Cost	[1],[10]	$ 7,715,379
Percentage of Net Assets	[1],[10]	1.70%
Interest Rate	[1],[10]
Principal / Par	[1],[10]	$ 7,780,122
Maturity Date	[1],[10]	Apr. 07, 2028
Debt Investments [Member] | Diversified Financial Services [Member] | First Lien Senior Secured [Member] | The Edelman Financial Center, LLC One [Member]
Fair Value	[1],[4],[5],[6],[7],[10]			$ 7,354,919
Amortized Cost	[1],[5],[6],[10]			$ 7,783,213
Percentage of Net Assets	[1],[5],[6],[10]			2%
Interest Rate	[1],[5],[6],[10]
Principal / Par	[1],[5],[6],[10]			$ 7,859,918
Maturity Date	[1],[5],[6],[10]			Apr. 07, 2028
Debt Investments [Member] | Auto Components [Member] | First Lien Senior Secured [Member] | Autokiniton US Holdings, Inc. [Member]
Fair Value	[3],[4],[10]	$ 8,092,675	[1],[2]	$ 7,895,370	[5],[6],[7]
Amortized Cost	[3],[10]	$ 8,056,553	[1]	$ 8,142,050	[5],[6]
Percentage of Net Assets	[3],[10]	1.80%	[1]	2.20%	[5],[6]
Interest Rate	[3],[10]		[1]		[5],[6]
Principal / Par	[3],[10]	$ 8,051,692	[1]	$ 8,134,273	[5],[6]
Maturity Date	[3],[10]	Mar. 27, 2028	[1]	Mar. 27, 2028	[5],[6]
Debt Investments [Member] | Auto Components [Member] | First Lien Senior Secured [Member] | RC Buyer, Inc [Member]
Fair Value	[4],[10]	$ 2,046,335	[1],[2]	$ 1,946,090	[5],[6],[7]
Amortized Cost	[10]	$ 2,049,357	[1]	$ 2,069,336	[5],[6]
Percentage of Net Assets	[10]	0.40%	[1]	0.50%	[5],[6]
Interest Rate	[10]		[1]		[5],[6]
Principal / Par	[10]	$ 2,052,750	[1]	$ 2,073,750	[5],[6]
Maturity Date	[10]	Jul. 28, 2028	[1]	Jul. 28, 2028	[5],[6]
Debt Investments [Member] | Auto Components [Member] | First Lien Senior Secured [Member] | RealTruck Group, Inc. [Member]
Fair Value	[1],[2],[4]	$ 2,000,000
Amortized Cost	[1]	$ 1,951,919
Percentage of Net Assets	[1]	0.40%
Interest Rate	[1]
Principal / Par	[1]	$ 2,000,000
Maturity Date	[1]	Jan. 31, 2028
Debt Investments [Member] | Auto Components [Member] | First Lien Senior Secured [Member] | RealTruck Group, Inc. [Member]
Fair Value	[1],[2],[4],[10]	$ 6,834,759
Amortized Cost	[1],[10]	$ 6,905,406
Percentage of Net Assets	[1],[10]	1.50%
Interest Rate	[1],[10]
Principal / Par	[1],[10]	$ 6,909,625
Maturity Date	[1],[10]	Jan. 20, 2028
Debt Investments [Member] | Auto Components [Member] | First Lien Senior Secured [Member] | BBB Industries [Member]
Fair Value	[3],[4],[5],[6],[7]			$ 3,650,000
Amortized Cost	[3],[5],[6]			$ 3,616,539
Percentage of Net Assets	[3],[5],[6]			1%
Interest Rate	[3],[5],[6]
Principal / Par	[3],[5],[6]			$ 4,000,000
Maturity Date	[3],[5],[6]			Jun. 29, 2029
Debt Investments [Member] | Auto Components [Member] | First Lien Senior Secured [Member] | Truck Hero, Inc. One [Member]
Fair Value	[4],[5],[6],[7],[10]			$ 6,016,469
Amortized Cost	[5],[6],[10]			$ 6,973,011
Percentage of Net Assets	[5],[6],[10]			1.70%
Interest Rate	[5],[6],[10]
Principal / Par	[5],[6],[10]			$ 6,980,675
Maturity Date	[5],[6],[10]			Jan. 20, 2028
Debt Investments [Member] | Wireless Telecommunication Services [Member] | First Lien Senior Secured [Member] | CCI Buyer, Inc. [Member]
Fair Value	[3],[4],[10]	$ 6,716,499	[1],[2]	$ 6,509,879	[5],[6],[7]
Amortized Cost	[3],[10]	$ 6,720,617	[1]	$ 6,789,067	[5],[6]
Percentage of Net Assets	[3],[10]	1.50%	[1]	1.80%	[5],[6]
Interest Rate	[3],[10]		[1]		[5],[6]
Principal / Par	[3],[10]	$ 6,726,117	[1]	$ 6,795,280	[5],[6]
Maturity Date	[3],[10]	Dec. 17, 2027	[1]	Dec. 17, 2027	[5],[6]
Debt Investments [Member] | Construction and Engineering [Member] | First Lien Senior Secured [Member] | Congruex Group LLC [Member]
Fair Value	[3],[4]	$ 5,879,219	[1],[2]	$ 6,063,281	[5],[6],[7]
Amortized Cost	[3]	$ 6,030,595	[1]	$ 6,073,258	[5],[6]
Percentage of Net Assets	[3]	1.30%	[1]	1.70%	[5],[6]
Interest Rate	[3]		[1]		[5],[6]
Principal / Par	[3]	$ 6,156,250	[1]	$ 6,218,750	[5],[6]
Maturity Date	[3]	Apr. 28, 2029	[1]	Apr. 28, 2029	[5],[6]
Debt Investments [Member] | Construction and Engineering [Member] | First Lien Senior Secured [Member] | Crown Subsea Communications Holding, Inc. [Member]
Fair Value	[1],[2],[4],[8],[10]	$ 1,840,693
Amortized Cost	[1],[8],[10]	$ 1,797,330
Percentage of Net Assets	[1],[8],[10]	0.40%
Interest Rate	[1],[10]
Principal / Par	[1],[8],[10]	$ 1,828,125
Maturity Date	[1],[8],[10]	Apr. 27, 2027
Debt Investments [Member] | Construction and Engineering [Member] | First Lien Senior Secured [Member] | Michael Baker International, LLC [Member]
Fair Value	[3],[4]	$ 6,125,000	[1],[2],[8]	$ 6,001,875	[5],[6],[7]
Amortized Cost	[3]	$ 6,078,246	[1],[8]	$ 6,132,616	[5],[6]
Percentage of Net Assets	[3]	1.30%	[1],[8]	1.70%	[5],[6]
Interest Rate	[3]		[1],[8]		[5],[6]
Principal / Par	[3]	$ 6,125,000	[1],[8]	$ 6,187,500	[5],[6]
Maturity Date	[3]	Nov. 02, 2028	[1],[8]	Nov. 02, 2028	[5],[6]
Debt Investments [Member] | Construction and Engineering [Member] | First Lien Senior Secured [Member] | Tecta America Corp. [Member]
Fair Value	[3],[4],[10]	$ 8,532,477	[1],[2]	$ 8,263,150	[5],[6],[7]
Amortized Cost	[3],[10]	$ 8,484,923	[1]	$ 8,568,674	[5],[6]
Percentage of Net Assets	[3],[10]	1.80%	[1]	2.30%	[5],[6]
Interest Rate	[3],[10]		[1]		[5],[6]
Principal / Par	[3],[10]	$ 8,497,933	[1]	$ 8,585,091	[5],[6]
Maturity Date	[3],[10]	Apr. 06, 2028	[1]	Apr. 06, 2028	[5],[6]
Debt Investments [Member] | Construction and Engineering [Member] | Second Lien Senior Secured [Member] | Artera Services, LLC [Member]
Fair Value	[4],[10]	$ 6,235,862	[1],[2],[8]	$ 4,867,309	[5],[6],[7]
Amortized Cost	[10]	$ 8,515,560	[1],[8]	$ 7,499,293	[5],[6]
Percentage of Net Assets	[10]	1.30%	[1],[8]	1.30%	[5],[6]
Interest Rate	[10]		[1],[8]		[5],[6]
Principal / Par	[10]	$ 9,060,000	[1],[8]	$ 7,810,000	[5],[6]
Maturity Date	[10]	Mar. 06, 2026	[1],[8]	Mar. 06, 2026	[5],[6]
Debt Investments [Member] | IT Services [Member] | First Lien Senior Secured [Member] | Connectwise LLC [Member]
Fair Value	[4],[10]	$ 7,840,000	[1],[2],[8]	$ 7,543,800	[5],[6],[7]
Amortized Cost	[10]	$ 7,830,094	[1],[8]	$ 7,908,488	[5],[6]
Percentage of Net Assets	[10]	1.70%	[1],[8]	2.10%	[5],[6]
Interest Rate	[10]		[1],[8]		[5],[6]
Principal / Par	[10]	$ 7,840,000	[1],[8]	$ 7,920,000	[5],[6]
Maturity Date	[10]	Sep. 29, 2028	[1],[8]	Sep. 29, 2028	[5],[6]
Debt Investments [Member] | IT Services [Member] | First Lien Senior Secured [Member] | ConvergeOne Holdings Corp. [Member]
Fair Value	[3],[4],[10]	$ 5,537,849	[1],[2],[8]	$ 5,765,959	[5],[6],[7]
Amortized Cost	[3],[10]	$ 9,630,247	[1],[8]	$ 9,682,304	[5],[6]
Percentage of Net Assets	[3],[10]	1.20%	[1],[8]	1.60%	[5],[6]
Interest Rate	[3],[10]		[1],[8]		[5],[6]
Principal / Par	[3],[10]	$ 9,736,877	[1],[8]	$ 9,839,102	[5],[6]
Maturity Date	[3],[10]	Jan. 04, 2026	[1],[8]	Jan. 04, 2026	[5],[6]
Debt Investments [Member] | IT Services [Member] | First Lien Senior Secured [Member] | Delta Topco, Inc. [Member]
Fair Value	[1],[2],[4],[8],[10]	$ 6,837,455
Amortized Cost	[1],[8],[10]	$ 6,829,206
Percentage of Net Assets	[1],[8],[10]	1.50%
Interest Rate	[1],[8],[10]
Principal / Par	[1],[8],[10]	$ 6,832,331
Maturity Date	[1],[8],[10]	Oct. 29, 2027
Debt Investments [Member] | IT Services [Member] | First Lien Senior Secured [Member] | Grab Holdings Inc [Member]
Fair Value	[4],[10]	$ 2,192,698	[1],[2],[8],[9]	$ 4,854,001	[5],[6],[7],[12]
Amortized Cost	[10]	$ 2,192,657	[1],[8],[9]	$ 4,942,597	[5],[6],[12]
Percentage of Net Assets	[10]	0.50%	[1],[8],[9]	1.30%	[5],[6],[12]
Interest Rate	[10]		[1],[8],[9]		[5],[6],[12]
Principal / Par	[10]	$ 2,180,433	[1],[8],[9]	$ 4,903,031	[5],[6],[12]
Maturity Date	[10]	Feb. 27, 2026	[1],[8],[9]	Feb. 27, 2026	[5],[6],[12]
Debt Investments [Member] | IT Services [Member] | First Lien Senior Secured [Member] | Idera, Inc. [Member]
Fair Value	[4],[10]	$ 9,669,397	[1],[2],[8]	$ 9,266,604	[5],[6],[7]
Amortized Cost	[10]	$ 9,669,409	[1],[8]	$ 9,760,546	[5],[6]
Percentage of Net Assets	[10]	2.10%	[1],[8]	2.50%	[5],[6]
Interest Rate	[10]		[1],[8]		[5],[6]
Principal / Par	[10]	$ 9,699,709	[1],[8]	$ 9,799,449	[5],[6]
Maturity Date	[10]	Mar. 02, 2028	[1],[8]	Mar. 02, 2028	[5],[6]
Debt Investments [Member] | IT Services [Member] | First Lien Senior Secured [Member] | LogMeIn, Inc. [Member]
Fair Value	[4],[10]	$ 6,493,722	[1],[2],[8]	$ 6,379,233	[5],[6],[7]
Amortized Cost	[10]	$ 9,663,298	[1],[8]	$ 9,742,894	[5],[6]
Percentage of Net Assets	[10]	1.40%	[1],[8]	1.80%	[5],[6]
Interest Rate	[10]		[1]		[5],[6]
Principal / Par	[10]	$ 9,744,042	[1],[8]	$ 9,844,496	[5],[6]
Maturity Date	[10]	Aug. 31, 2027	[1],[8]	Aug. 31, 2027	[5],[6]
Debt Investments [Member] | IT Services [Member] | First Lien Senior Secured [Member] | Micro Holding Corp. [Member]
Fair Value	[4],[10]	$ 9,639,862	[1],[2],[8]	$ 9,604,046	[5],[6],[7]
Amortized Cost	[10]	$ 9,541,199	[1],[8]	$ 9,824,488	[5],[6]
Percentage of Net Assets	[10]	2.10%	[1],[8]	2.60%	[5],[6]
Interest Rate	[10]		[1],[8]		[5],[6]
Principal / Par	[10]	$ 9,786,662	[1],[8]	$ 9,861,126	[5],[6]
Maturity Date	[10]	May 03, 2028	[1],[8]	Sep. 13, 2024	[5],[6]
Debt Investments [Member] | IT Services [Member] | First Lien Senior Secured [Member] | Redstone Holdco 2 LP [Member]
Fair Value	[3],[4],[10]	$ 3,728,439	[1],[2]	$ 5,507,406	[5],[6],[7]
Amortized Cost	[3],[10]	$ 4,867,936	[1]	$ 7,852,104	[5],[6]
Percentage of Net Assets	[3],[10]	0.80%	[1]	1.50%	[5],[6]
Interest Rate	[3],[10]		[1]		[5],[6]
Principal / Par	[3],[10]	$ 4,892,258	[1]	$ 7,900,000	[5],[6]
Maturity Date	[3],[10]	Apr. 14, 2028	[1]	Apr. 14, 2028	[5],[6]
Debt Investments [Member] | IT Services [Member] | First Lien Senior Secured [Member] | Vision Solutions, Inc. [Member]
Fair Value	[4],[10]	$ 9,716,350	[1],[2]	$ 8,203,656	[5],[6],[7]
Amortized Cost	[10]	$ 9,753,558	[1]	$ 9,848,442	[5],[6]
Percentage of Net Assets	[10]	2.10%	[1]	2.30%	[5],[6]
Interest Rate	[10]		[1]		[5],[6]
Principal / Par	[10]	$ 9,775,000	[1]	$ 9,875,000	[5],[6]
Maturity Date	[10]	Apr. 24, 2028	[1]	Apr. 24, 2028	[5],[6]
Debt Investments [Member] | IT Services [Member] | First Lien Senior Secured [Member] | DCert Buyer, Inc. [Member]
Fair Value	[4],[5],[6],[7],[10]			$ 7,586,402
Amortized Cost	[5],[6],[10]			$ 7,835,021
Percentage of Net Assets	[5],[6],[10]			2.10%
Interest Rate	[5],[6],[10]
Principal / Par	[5],[6],[10]			$ 7,835,452
Maturity Date	[5],[6],[10]			Oct. 16, 2026
Debt Investments [Member] | IT Services [Member] | First Lien Senior Secured [Member] | Delta Topco, Inc. [Member]
Fair Value	[4],[5],[6],[7],[10]			$ 6,398,530
Amortized Cost	[5],[6],[10]			$ 6,897,810
Percentage of Net Assets	[5],[6],[10]			1.80%
Interest Rate	[5],[6],[10]
Principal / Par	[5],[6],[10]			$ 6,902,406
Maturity Date	[5],[6],[10]			Oct. 29, 2027
Debt Investments [Member] | IT Services [Member] | First Lien Senior Secured [Member] | Proofpoint, Inc [Member]
Fair Value	[4],[5],[6],[7],[10],[11]			$ 2,334,276
Amortized Cost	[5],[6],[10],[11]			$ 2,414,428
Percentage of Net Assets	[5],[6],[10],[11]			0.60%
Interest Rate	[5],[6],[10],[11]
Principal / Par	[5],[6],[10],[11]			$ 2,421,385
Maturity Date	[5],[6],[10],[11]			Jun. 09, 2028
Debt Investments [Member] | IT Services [Member] | Second Lien Senior Secured [Member] | Idera, Inc. [Member]
Fair Value	[4]	$ 4,896,875	[1],[2],[8]	$ 4,150,000	[5],[6],[7]
Amortized Cost		$ 5,023,383	[1],[8]	$ 5,027,564	[5],[6]
Percentage of Net Assets		1.10%	[1],[8]	1.10%	[5],[6]
Interest Rate			[1],[8]		[5],[6]
Principal / Par		$ 5,000,000	[1],[8]	$ 5,000,000	[5],[6]
Maturity Date		Feb. 05, 2029	[1],[8]	Feb. 05, 2029	[5],[6]
Debt Investments [Member] | IT Services [Member] | Second Lien Senior Secured [Member] | Vision Solutions, Inc. [Member]
Fair Value	[4],[5],[6],[7]			$ 2,610,790
Amortized Cost	[5],[6]			$ 3,506,759
Percentage of Net Assets	[5],[6]			0.70%
Interest Rate	[5],[6]
Principal / Par	[5],[6]			$ 3,500,000
Maturity Date	[5],[6]			Apr. 23, 2029
Debt Investments [Member] | IT Services [Member] | Second Lien Senior Secured [Member] | DCert Buyer, Inc. [Member]
Fair Value	[4],[10]	$ 1,372,500	[1],[2],[8]	$ 1,375,500	[5],[6],[7]
Amortized Cost	[10]	$ 1,498,435	[1],[8]	$ 1,497,620	[5],[6]
Percentage of Net Assets	[10]	0.30%	[1],[8]	0.40%	[5],[6]
Interest Rate	[10]		[1],[8]		[5],[6]
Principal / Par	[10]	$ 1,500,000	[1],[8]	$ 1,500,000	[5],[6]
Maturity Date	[10]	Feb. 19, 2029	[1],[8]	Feb. 19, 2029	[5],[6]
Debt Investments [Member] | IT Services [Member] | Second Lien Senior Secured [Member] | Delta Topco, Inc. [Member]
Fair Value	[1],[2],[4],[8]	$ 3,447,213
Amortized Cost	[1],[8]	$ 3,465,588
Percentage of Net Assets	[1],[8]	0.70%
Interest Rate	[1],[8]
Principal / Par	[1],[8]	$ 3,435,617
Maturity Date	[1],[8]	Oct. 06, 2028
Debt Investments [Member] | IT Services [Member] | Second Lien Senior Secured [Member] | Vision Solutions, Inc. [Member]
Fair Value	[1],[2],[4]	$ 3,223,658
Amortized Cost	[1]	$ 3,504,600
Percentage of Net Assets	[1]	0.70%
Interest Rate	[1]
Principal / Par	[1]	$ 3,500,000
Maturity Date	[1]	Apr. 23, 2029
Debt Investments [Member] | IT Services [Member] | Second Lien Senior Secured [Member] | Delta Topco, Inc. Three [Member]
Fair Value	[4],[5],[6],[7]			$ 2,735,610
Amortized Cost	[5],[6]			$ 3,470,139
Percentage of Net Assets	[5],[6]			0.80%
Interest Rate	[5],[6]
Principal / Par	[5],[6]			$ 3,435,617
Maturity Date	[5],[6]			Oct. 06, 2028
Debt Investments [Member] | Diversified Telecommunication Services [Member] | First Lien Senior Secured [Member] | Consolidated Communications, Inc. [Member]
Fair Value	[4],[10]	$ 4,133,458	[1],[2],[8],[9]	$ 1,265,573	[5],[6],[7],[12]
Amortized Cost	[10]	$ 4,139,814	[1],[8],[9]	$ 1,412,497	[5],[6],[12]
Percentage of Net Assets	[10]	0.90%	[1],[8],[9]	0.30%	[5],[6],[12]
Interest Rate	[10]		[1],[8],[9]		[5],[6],[12]
Principal / Par	[10]	$ 4,428,009	[1],[8],[9]	$ 1,428,009	[5],[6],[12]
Maturity Date	[10]	Oct. 02, 2027	[1],[8],[9]	Oct. 02, 2027	[5],[6],[12]
Debt Investments [Member] | Diversified Telecommunication Services [Member] | First Lien Senior Secured [Member] | MLN US HoldCo LLC [Member]
Fair Value	[4],[10]	$ 473,215	[1],[2],[8]	$ 1,429,806	[5],[6],[7]
Amortized Cost	[10]	$ 4,014,973	[1],[8]	$ 3,997,358	[5],[6]
Percentage of Net Assets	[10]	0.10%	[1],[8]	0.40%	[5],[6]
Interest Rate	[10]		[1],[8]		[5],[6]
Principal / Par	[10]	$ 4,056,188	[1],[8]	$ 4,056,188	[5],[6]
Maturity Date	[10]	Dec. 31, 2025	[1],[8]	Dec. 31, 2025	[5],[6]
Debt Investments [Member] | Diversified Telecommunication Services [Member] | First Lien Senior Secured [Member] | Vocus Group DD T/L [Member]
Fair Value	[1],[2],[4],[9],[10]	$ 1,979,938
Amortized Cost	[1],[9],[10]	$ 1,958,023
Percentage of Net Assets	[1],[9],[10]	0.40%
Interest Rate	[1],[9],[10]
Principal / Par	[1],[9],[10]	$ 1,975,000
Maturity Date	[1],[9],[10]	May 26, 2028
Debt Investments [Member] | Diversified Telecommunication Services [Member] | Second Lien Senior Secured [Member] | Altice Financing S.A. [Member]
Fair Value	[1],[2],[4],[9]	$ 2,733,750
Amortized Cost	[1],[9]	$ 2,607,052
Percentage of Net Assets	[1],[9]	0.60%
Interest Rate	[1],[9]	5%
Principal / Par	[1],[9]	$ 3,000,000
Maturity Date	[1],[9]	Jan. 15, 2028
Debt Investments [Member] | Building Products [Member] | First Lien Senior Secured [Member] | CP Atlas Buyer, Inc [Member]
Fair Value	[4],[10]	$ 6,733,024	[1],[2],[8]	$ 6,064,484	[5],[6],[7]
Amortized Cost	[10]	$ 6,749,038	[1],[8]	$ 6,800,708	[5],[6]
Percentage of Net Assets	[10]	1.50%	[1],[8]	1.70%	[5],[6]
Interest Rate	[10]		[1],[8]		[5],[6]
Principal / Par	[10]	$ 6,826,201	[1],[8]	$ 6,894,514	[5],[6]
Maturity Date	[10]	Nov. 23, 2027	[1],[8]	Nov. 23, 2027	[5],[6]
Debt Investments [Member] | Building Products [Member] | First Lien Senior Secured [Member] | LBM Acquisition LLC [Member]
Fair Value	[3],[4],[10]	$ 7,247,074	[1],[2],[8]	$ 6,441,385	[5],[6],[7]
Amortized Cost	[3],[10]	$ 7,259,009	[1],[8]	$ 7,318,369	[5],[6]
Percentage of Net Assets	[3],[10]	1.60%	[1],[8]	1.80%	[5],[6]
Interest Rate	[3],[10]		[1],[8]		[5],[6]
Principal / Par	[3],[10]	$ 7,316,803	[1],[8]	$ 7,391,911	[5],[6]
Maturity Date	[3],[10]	Dec. 31, 2027	[1],[8]	Dec. 31, 2027	[5],[6]
Debt Investments [Member] | Building Products [Member] | First Lien Senior Secured [Member] | Specialty Building Products Holdings, LLC [Member]
Fair Value	[3],[4],[10]	$ 9,825,000	[1],[2]	$ 8,969,768	[5],[6],[7]
Amortized Cost	[3],[10]	$ 9,813,016	[1]	$ 9,909,395	[5],[6]
Percentage of Net Assets	[3],[10]	2.10%	[1]	2.50%	[5],[6]
Interest Rate	[3],[10]		[1]		[5],[6]
Principal / Par	[3],[10]	$ 9,825,000	[1]	$ 9,925,000	[5],[6]
Maturity Date	[3],[10]	Oct. 05, 2028	[1]	Oct. 05, 2028	[5],[6]
Debt Investments [Member] | Building Products [Member] | First Lien Senior Secured [Member] | White Cap Buyer LLC [Member]
Fair Value	[4],[10]	$ 2,920,363	[1],[2]	$ 6,674,960	[3],[5],[6],[7]
Amortized Cost	[10]	$ 2,893,120	[1]	$ 6,880,543	[3],[5],[6]
Percentage of Net Assets	[10]	0.60%	[1]	1.80%	[3],[5],[6]
Interest Rate	[10]		[1]		[3],[5],[6]
Principal / Par	[10]	$ 2,910,656	[1]	$ 6,890,281	[3],[5],[6]
Maturity Date	[10]	Oct. 08, 2027	[1]	Oct. 08, 2027	[3],[5],[6]
Debt Investments [Member] | Building Products [Member] | First Lien Senior Secured [Member] | Wilsonart LLC [Member]
Fair Value	[4],[10]	$ 5,374,211	[1],[2]	$ 9,397,535	[3],[5],[6],[7]
Amortized Cost	[10]	$ 5,314,657	[1]	$ 9,807,312	[3],[5],[6]
Percentage of Net Assets	[10]	1.20%	[1]	2.60%	[3],[5],[6]
Interest Rate	[10]		[1]		[3],[5],[6]
Principal / Par	[10]	$ 5,354,560	[1]	$ 9,849,375	[3],[5],[6]
Maturity Date	[10]	Dec. 18, 2026	[1]	Dec. 18, 2026	[3],[5],[6]
Debt Investments [Member] | Electronic Equipment, Instruments and Components [Member] | First Lien Senior Secured [Member] | Creation Technologies, Inc. [Member]
Fair Value	[3],[4]	$ 4,801,875	[1],[2],[8],[9]	$ 4,004,875	[5],[6],[7],[12]
Amortized Cost	[3]	$ 4,870,143	[1],[8],[9]	$ 4,911,130	[5],[6],[12]
Percentage of Net Assets	[3]	1%	[1],[8],[9]	1.10%	[5],[6],[12]
Interest Rate	[3]		[1],[8],[9]		[5],[6],[12]
Principal / Par	[3]	$ 4,925,000	[1],[8],[9]	$ 4,975,000	[5],[6],[12]
Maturity Date	[3]	Sep. 14, 2028	[1],[8],[9]	Sep. 14, 2028	[5],[6],[12]
Debt Investments [Member] | Electronic Equipment, Instruments and Components [Member] | First Lien Senior Secured [Member] | Infinite Bidco, LLC [Member]
Fair Value	[1],[2],[4],[8],[10]	$ 6,203,044
Amortized Cost	[1],[8],[10]	$ 6,307,674
Percentage of Net Assets	[1],[8],[10]	1.30%
Interest Rate	[1],[8],[10]
Principal / Par	[1],[8],[10]	$ 6,345,825
Maturity Date	[1],[8],[10]	Mar. 02, 2028
Debt Investments [Member] | Electronic Equipment, Instruments and Components [Member] | First Lien Senior Secured [Member] | Infinite Bidco LLC [Member]
Fair Value	[4]	$ 2,940,300	[1],[2]	$ 6,169,552	[5],[6],[7],[10]
Amortized Cost		$ 2,963,048	[1]	$ 6,364,641	[5],[6],[10]
Percentage of Net Assets		0.60%	[1]	1.70%	[5],[6],[10]
Interest Rate			[1]		[5],[6],[10]
Principal / Par		$ 2,970,000	[1]	$ 6,409,925	[5],[6],[10]
Maturity Date		Mar. 02, 2028	[1]	Mar. 02, 2028	[5],[6],[10]
Debt Investments [Member] | Electronic Equipment, Instruments and Components [Member] | Second Lien Senior Secured [Member] | Infinite Bidco LLC [Member]
Fair Value	[4],[10]	$ 2,334,149	[1],[2],[8]	$ 2,525,249	[5],[6],[7]
Amortized Cost	[10]	$ 2,726,270	[1],[8]	$ 2,725,339	[5],[6]
Percentage of Net Assets	[10]	0.50%	[1],[8]	0.70%	[5],[6]
Interest Rate	[10]		[1],[8]		[5],[6]
Principal / Par	[10]	$ 2,729,999	[1],[8]	$ 2,729,999	[5],[6]
Maturity Date	[10]	Feb. 24, 2029	[1],[8]	Feb. 24, 2029	[5],[6]
Debt Investments [Member] | Media [Member] | First Lien Senior Secured [Member] | DIRECTV Financing, LLC [Member]
Fair Value	[4],[10]	$ 4,793,685	[1],[2]	$ 5,195,762	[5],[6],[7]
Amortized Cost	[10]	$ 4,758,070	[1]	$ 5,287,772	[5],[6]
Percentage of Net Assets	[10]	1%	[1]	1.40%	[5],[6]
Interest Rate	[10]		[1]		[5],[6]
Principal / Par	[10]	$ 4,785,000	[1]	$ 5,325,000	[5],[6]
Maturity Date	[10]	Aug. 02, 2027	[1]	Aug. 02, 2027	[5],[6]
Debt Investments [Member] | Media [Member] | First Lien Senior Secured [Member] | Dotdash Meredith, Inc. [Member]
Fair Value	[4],[10]	$ 9,751,000	[1],[2],[8]	$ 8,563,500	[5],[6],[7]
Amortized Cost	[10]	$ 9,764,648	[1],[8]	$ 9,856,743	[5],[6]
Percentage of Net Assets	[10]	2.10%	[1],[8]	2.40%	[5],[6]
Interest Rate	[10]		[1],[8]		[5],[6]
Principal / Par	[10]	$ 9,800,000	[1],[8]	$ 9,900,000	[5],[6]
Maturity Date	[10]	Nov. 23, 2028	[1],[8]	Nov. 23, 2028	[5],[6]
Debt Investments [Member] | Media [Member] | First Lien Senior Secured [Member] | Getty Images, Inc. [Member]
Fair Value	[3],[4],[10]	$ 7,789,513	[1],[2],[8],[9]	$ 8,351,507	[5],[6],[7],[11]
Amortized Cost	[3],[10]	$ 7,745,054	[1],[8],[9]	$ 8,358,691	[5],[6],[11]
Percentage of Net Assets	[3],[10]	1.70%	[1],[8],[9]	2.30%	[5],[6],[11]
Interest Rate	[3],[10]		[1],[8],[9]		[5],[6],[11]
Principal / Par	[3],[10]	$ 7,744,017	[1],[8],[9]	$ 8,356,730	[5],[6],[11]
Maturity Date	[3],[10]	Feb. 13, 2026	[1],[8],[9]	Feb. 13, 2026	[5],[6],[11]
Debt Investments [Member] | Media [Member] | First Lien Senior Secured [Member] | Indy US Holdco, LLC [Member]
Fair Value	[1],[2],[4],[8],[10]	$ 6,439,764
Amortized Cost	[1],[8],[10]	$ 5,900,941
Percentage of Net Assets	[1],[8],[10]	1.40%
Interest Rate	[1],[8],[10]
Principal / Par	[1],[8],[10]	$ 6,567,000
Maturity Date	[1],[8],[10]	Mar. 06, 2028
Debt Investments [Member] | Media [Member] | First Lien Senior Secured [Member] | Simon & Schuster, Inc. [Member]
Fair Value	[1],[2],[4],[10]	$ 2,008,750
Amortized Cost	[1],[10]	$ 1,980,410
Percentage of Net Assets	[1],[10]	0.40%
Interest Rate	[1],[10]
Principal / Par	[1],[10]	$ 2,000,000
Maturity Date	[1],[10]	Oct. 30, 2030
Debt Investments [Member] | Media [Member] | First Lien Senior Secured [Member] | Summer BC Holdco B LLC [Member]
Fair Value	[3],[4]	$ 4,850,086	[1],[2],[9]	$ 4,595,998	[7],[12]
Amortized Cost	[3]	$ 4,890,408	[1],[9]	$ 4,942,258	[12]
Percentage of Net Assets	[3]	1%	[1],[9]	1.30%	[12]
Interest Rate	[3]		[1],[9]		[12]
Principal / Par	[3]	$ 4,887,500	[1],[9]	$ 4,937,500	[12]
Maturity Date	[3]	Dec. 04, 2026	[1],[9]	Dec. 04, 2026	[12]
Debt Investments [Member] | Media [Member] | First Lien Senior Secured [Member] | Titan US Finco, LLC [Member]
Fair Value	[3],[4]	$ 5,811,468	[1],[2],[9]	$ 5,711,857	[7],[12]
Amortized Cost	[3]	$ 5,885,073	[1],[9]	$ 5,942,128	[12]
Percentage of Net Assets	[3]	1.30%	[1],[9]	1.60%	[12]
Interest Rate	[3]		[1],[9]		[12]
Principal / Par	[3]	$ 5,895,000	[1],[9]	$ 5,955,000	[12]
Maturity Date	[3]	Oct. 06, 2028	[1],[9]	Oct. 06, 2028	[12]
Debt Investments [Member] | Independent Power and Renewable Electricity Producers [Member] | First Lien Senior Secured [Member] | EFS Cogen Holdings I, LLC [Member]
Fair Value	[3],[4],[10]	$ 7,275,740	[1],[2],[8]	$ 7,404,558	[5],[6],[7]
Amortized Cost	[3],[10]	$ 7,281,384	[1],[8]	$ 7,686,971	[5],[6]
Percentage of Net Assets	[3],[10]	1.60%	[1],[8]	2%	[5],[6]
Interest Rate	[3],[10]		[1],[8]		[5],[6]
Principal / Par	[3],[10]	$ 7,276,177	[1],[8]	$ 7,680,240	[5],[6]
Maturity Date	[3],[10]	Oct. 29, 2027	[1],[8]	Oct. 29, 2027	[5],[6]
Debt Investments [Member] | Independent Power and Renewable Electricity Producers [Member] | First Lien Senior Secured [Member] | Generation Bridge Northeast, LLC [Member]
Fair Value	[1],[2],[4],[8],[10]	$ 4,428,538
Amortized Cost	[1],[8],[10]	$ 4,362,895
Percentage of Net Assets	[1],[8],[10]	1%
Interest Rate	[1],[8],[10]
Principal / Par	[1],[8],[10]	$ 4,405,585
Maturity Date	[1],[8],[10]	Aug. 22, 2029
Debt Investments [Member] | Independent Power and Renewable Electricity Producers [Member] | First Lien Senior Secured [Member] | Hamilton Projects Acquiror LLC [Member]
Fair Value	[3],[4],[10]	$ 7,709,004	[1],[2],[8]	$ 8,596,404	[5],[6],[7]
Amortized Cost	[3],[10]	$ 7,634,935	[1],[8]	$ 8,681,952	[5],[6]
Percentage of Net Assets	[3],[10]	1.70%	[1],[8]	2.40%	[5],[6]
Interest Rate	[3],[10]		[1],[8]		[5],[6]
Principal / Par	[3],[10]	$ 7,664,093	[1],[8]	$ 8,721,780	[5],[6]
Maturity Date	[3],[10]	Jun. 11, 2027	[1],[8]	Jun. 11, 2027	[5],[6]
Debt Investments [Member] | Independent Power and Renewable Electricity Producers [Member] | First Lien Senior Secured [Member] | Invenergy Thermal Operating I LLC [Member]
Fair Value	[1],[2],[3],[4],[8]	$ 3,572,725
Amortized Cost	[1],[3],[8]	$ 3,489,433
Percentage of Net Assets	[1],[3],[8]	0.80%
Interest Rate	[1],[3],[8]
Principal / Par	[1],[3],[8]	$ 3,558,261
Maturity Date	[1],[3],[8]	Aug. 14, 2029
Debt Investments [Member] | Independent Power and Renewable Electricity Producers [Member] | First Lien Senior Secured [Member] | Invenergy Thermal Operating I LLC [Member]
Fair Value	[1],[2],[3],[4],[8]	$ 295,267
Amortized Cost	[1],[3],[8]	$ 288,403
Percentage of Net Assets	[1],[3],[8]	0.10%
Interest Rate	[1],[3],[8]
Principal / Par	[1],[3],[8]	$ 294,071
Maturity Date	[1],[3],[8]	Aug. 14, 2029
Debt Investments [Member] | Independent Power and Renewable Electricity Producers [Member] | First Lien Senior Secured [Member] | Kestrel Acquisition, LLC [Member]
Fair Value	[4],[10]	$ 5,831,735	[1],[2],[8]	$ 6,657,025	[5],[6],[7]
Amortized Cost	[10]	$ 5,636,874	[1],[8]	$ 6,333,128	[5],[6]
Percentage of Net Assets	[10]	1.30%	[1],[8]	1.80%	[5],[6]
Interest Rate	[10]		[1],[8]		[5],[6]
Principal / Par	[10]	$ 5,900,476	[1],[8]	$ 6,832,098	[5],[6]
Maturity Date	[10]	May 02, 2025	[1],[8]	May 02, 2025	[5],[6]
Debt Investments [Member] | Independent Power and Renewable Electricity Producers [Member] | First Lien Senior Secured [Member] | Lightstone Holdco LLC [Member]
Fair Value	[4],[10]	$ 4,525,486	[1],[2],[8]	$ 4,411,459	[5],[6],[7]
Amortized Cost	[10]	$ 4,364,801	[1],[8]	$ 4,322,409	[5],[6]
Percentage of Net Assets	[10]	1%	[1],[8]	1.20%	[5],[6]
Interest Rate	[10]		[1],[8]		[5],[6]
Principal / Par	[10]	$ 4,741,832	[1],[8]	$ 4,795,064	[5],[6]
Maturity Date	[10]	Feb. 01, 2027	[1],[8]	Feb. 01, 2027	[5],[6]
Debt Investments [Member] | Independent Power and Renewable Electricity Producers [Member] | First Lien Senior Secured [Member] | Lightstone Holdco LLC [Member]
Fair Value	[4],[10]	$ 255,957	[1],[2],[8]	$ 249,508	[5],[6],[7]
Amortized Cost	[10]	$ 246,863	[1],[8]	$ 244,463	[5],[6]
Percentage of Net Assets	[10]	0.10%	[1],[8]	0.10%	[5],[6]
Interest Rate	[10]		[1]		[5],[6]
Principal / Par	[10]	$ 268,194	[1],[8]	$ 271,204	[5],[6]
Maturity Date	[10]	Feb. 01, 2027	[1],[8]	Feb. 01, 2027	[5],[6]
Debt Investments [Member] | Independent Power and Renewable Electricity Producers [Member] | First Lien Senior Secured [Member] | Talen Energy Supply, LLC [Member]
Fair Value	[1],[2],[4],[9],[10]	$ 2,214,052
Amortized Cost	[1],[9],[10]	$ 2,136,074
Percentage of Net Assets	[1],[9],[10]	0.50%
Interest Rate	[1],[9],[10]
Principal / Par	[1],[9],[10]	$ 2,198,476
Maturity Date	[1],[9],[10]	May 17, 2030
Debt Investments [Member] | Independent Power and Renewable Electricity Producers [Member] | First Lien Senior Secured [Member] | Talen Energy Supply, LLC [Member]
Fair Value	[1],[2],[4],[9],[10]	$ 1,803,162
Amortized Cost	[1],[9],[10]	$ 1,739,503
Percentage of Net Assets	[1],[9],[10]	0.40%
Interest Rate	[1],[9],[10]
Principal / Par	[1],[9],[10]	$ 1,790,476
Maturity Date	[1],[9],[10]	May 17, 2030
Debt Investments [Member] | Independent Power and Renewable Electricity Producers [Member] | First Lien Senior Secured [Member] | Tidal Power Holdings, LLC [Member]
Fair Value	[4],[5],[6],[7],[10],[12]			$ 846,838
Amortized Cost	[5],[6],[10],[12]			$ 847,980
Percentage of Net Assets	[5],[6],[10],[12]			0.20%
Interest Rate	[5],[6],[10],[12]
Principal / Par	[5],[6],[10],[12]			$ 848,961
Maturity Date	[5],[6],[10],[12]			Apr. 01, 2027
Debt Investments [Member] | Commercial Services and Supplies [Member] | First Lien Senior Secured [Member] | EnergySolutions, LLC [Member]
Fair Value	[1],[2],[4],[8],[10]	$ 2,996,241
Amortized Cost	[1],[2],[8],[10]	$ 2,956,004
Percentage of Net Assets	[1],[2],[8],[10]	0.60%
Interest Rate	[1],[2],[8],[10]
Principal / Par	[1],[2],[8],[10]	$ 2,992,500
Maturity Date	[1],[2],[8],[10]	Sep. 20, 2030
Debt Investments [Member] | Commercial Services and Supplies [Member] | First Lien Senior Secured [Member] | NorthStar Group Services, Inc.[Member]
Fair Value	[3],[4],[10]	$ 8,413,206	[1],[2]	$ 8,526,599	[5],[6],[7]
Amortized Cost	[3],[10]	$ 8,395,525	[1]	$ 8,620,554	[5],[6]
Percentage of Net Assets	[3],[10]	1.80%	[1]	2.30%	[5],[6]
Interest Rate	[3],[10]		[1]		[5],[6]
Principal / Par	[3],[10]	$ 8,418,468	[1]	$ 8,649,114	[5],[6]
Maturity Date	[3],[10]	Nov. 09, 2026	[1]	Nov. 09, 2026	[5],[6]
Debt Investments [Member] | Commercial Services and Supplies [Member] | First Lien Senior Secured [Member] | VeriFone Systems, Inc. [Member]
Fair Value	[4],[10]	$ 2,829,955	[1],[2]	$ 2,714,743	[5],[6],[7]
Amortized Cost	[10]	$ 2,896,373	[1]	$ 2,916,464	[5],[6]
Percentage of Net Assets	[10]	0.60%	[1]	0.70%	[5],[6]
Interest Rate	[10]		[1]		[5],[6]
Principal / Par	[10]	$ 2,915,601	[1]	$ 2,946,292	[5],[6]
Maturity Date	[10]	Aug. 20, 2025	[1]	Aug. 20, 2025	[5],[6]
Debt Investments [Member] | Commercial Services and Supplies [Member] | First Lien Senior Secured [Member] | Belfor Holdings, Inc. [Member]
Fair Value	[4],[5],[6],[7],[10],[11]			$ 1,984,858
Amortized Cost	[5],[6],[10],[11]			$ 1,989,845
Percentage of Net Assets	[5],[6],[10],[11]			0.50%
Interest Rate	[5],[6],[10],[11]
Principal / Par	[5],[6],[10],[11]			$ 1,994,832
Maturity Date	[5],[6],[10],[11]			Mar. 31, 2026
Debt Investments [Member] | Diversified Consumer Services [Member] | First Lien Senior Secured [Member] | Fugue Finance, LLC [Member]
Fair Value	[1],[2],[4],[8],[9],[10]	$ 3,968,306
Amortized Cost	[1],[8],[9],[10]	$ 3,877,785
Percentage of Net Assets	[1],[8],[9],[10]	0.90%
Interest Rate	[1],[8],[9],[10]
Principal / Par	[1],[8],[9],[10]	$ 3,945,188
Maturity Date	[1],[8],[9],[10]	Jan. 31, 2028
Debt Investments [Member] | Diversified Consumer Services [Member] | First Lien Senior Secured [Member] | Garda World Security Corporation [Member]
Fair Value	[4],[10]	$ 7,941,698	[1],[2],[8],[9]	$ 6,755,000	[5],[6],[7],[11],[12]
Amortized Cost	[10]	$ 7,690,415	[1],[8],[9]	$ 6,772,500	[5],[6],[11],[12]
Percentage of Net Assets	[10]	1.70%	[1],[8],[9]	1.90%	[5],[6],[11],[12]
Interest Rate	[10]		[1],[8],[9]		[5],[6],[11],[12]
Principal / Par	[10]	$ 7,919,799	[1],[8],[9]	$ 7,000,000	[5],[6],[11],[12]
Maturity Date	[10]	Feb. 12, 2029	[1],[8],[9]	Feb. 12, 2029	[5],[6],[11],[12]
Debt Investments [Member] | Diversified Consumer Services [Member] | First Lien Senior Secured [Member] | Prometric Holdings, Inc. [Member]
Fair Value	[1],[2],[4],[10]	$ 5,711,083
Amortized Cost	[1],[10]	$ 5,561,435
Percentage of Net Assets	[1],[10]	1.20%
Interest Rate	[1],[10]
Principal / Par	[1],[10]	$ 5,706,603
Maturity Date	[1],[10]	Jan. 31, 2028
Debt Investments [Member] | Diversified Consumer Services [Member] | First Lien Senior Secured [Member] | Moneygram International, Inc.[Member]
Fair Value	[4],[5],[6],[7],[10],[12]			$ 9,891,182
Amortized Cost	[5],[6],[10],[12]			$ 9,876,860
Percentage of Net Assets	[5],[6],[10],[12]			2.70%
Interest Rate	[5],[6],[10],[12]
Principal / Par	[5],[6],[10],[12]			$ 9,895,833
Maturity Date	[5],[6],[10],[12]			Jul. 21, 2026
Debt Investments [Member] | Specialty Retail [Member] | First Lien Senior Secured [Member] | Great Outdoors Group, LLC [Member]
Fair Value	[4],[10]	$ 6,945,377	[1],[2],[8]	$ 6,749,262	[5],[6],[7]
Amortized Cost	[10]	$ 6,914,945	[1],[8]	$ 6,979,386	[5],[6]
Percentage of Net Assets	[10]	1.50%	[1],[8]	1.90%	[5],[6]
Interest Rate	[10]		[1],[8]		[5],[6]
Principal / Par	[10]	$ 6,936,707	[1],[8]	$ 7,007,670	[5],[6]
Maturity Date	[10]	Mar. 06, 2028	[1],[8]	Mar. 06, 2028	[5],[6]
Debt Investments [Member] | Specialty Retail [Member] | First Lien Senior Secured [Member] | LSF9 Atlantis Holdings, LLC [Member]
Fair Value	[4],[5],[6],[7],[10]			$ 6,734,503
Amortized Cost	[5],[6],[10]			$ 6,654,959
Percentage of Net Assets	[5],[6],[10]			1.90%
Interest Rate	[5],[6],[10]
Principal / Par	[5],[6],[10]			$ 6,912,500
Maturity Date	[5],[6],[10]			Mar. 29, 2029
Debt Investments [Member] | Containers and Packaging [Member] | First Lien Senior Secured [Member] | Kleopatra Finco S.a.r.l [Member]
Fair Value	[4],[10]	$ 1,841,069	[1],[2],[8],[9]	$ 1,753,763	[5],[6],[7],[12]
Amortized Cost	[10]	$ 1,942,008	[1],[8],[9]	$ 1,959,187	[5],[6],[12]
Percentage of Net Assets	[10]	0.40%	[1],[8],[9]	0.50%	[5],[6],[12]
Interest Rate	[10]		[1],[8],[9]		[5],[6],[12]
Principal / Par	[10]	$ 1,945,000	[1],[8],[9]	$ 1,965,000	[5],[6],[12]
Maturity Date	[10]	Feb. 04, 2026	[1],[8],[9]	Feb. 04, 2026	[5],[6],[12]
Debt Investments [Member] | Containers and Packaging [Member] | First Lien Senior Secured [Member] | Pretium PKG Holdings, Inc [Member]
Fair Value	[1],[2],[4]	$ 1,455,165
Amortized Cost	[1]	$ 1,428,726
Percentage of Net Assets	[1]	0.30%
Interest Rate	[1]
Principal / Par	[1]	$ 1,481,076
Maturity Date	[1]	Oct. 02, 2028
Debt Investments [Member] | Containers and Packaging [Member] | First Lien Senior Secured [Member] | Tank Holding Corp. [Member]
Fair Value	[1],[2],[4],[15]	$ 268,521
Amortized Cost	[1],[15]	$ 285,571
Percentage of Net Assets	[1],[15]	0.10%
Interest Rate	[1],[15]
Principal / Par	[1],[15]	$ 302,243
Maturity Date	[1],[15]	Mar. 31, 2028
Debt Investments [Member] | Containers and Packaging [Member] | First Lien Senior Secured [Member] | Tank Holding Corp [Member]
Fair Value	[1],[2],[4]	$ 2,387,879
Amortized Cost	[1]	$ 2,439,747
Percentage of Net Assets	[1]	0.50%
Interest Rate	[1]
Principal / Par	[1]	$ 2,487,374
Maturity Date	[1]	Mar. 31, 2028
Debt Investments [Member] | Containers and Packaging [Member] | First Lien Senior Secured [Member] | Tank Holding Corp. [Member]
Fair Value	[1],[2],[4]	$ 2,006,091
Amortized Cost	[1]	$ 2,044,729
Percentage of Net Assets	[1]	0.40%
Interest Rate	[1]
Principal / Par	[1]	$ 2,084,250
Maturity Date	[1]	Mar. 31, 2028
Debt Investments [Member] | Containers and Packaging [Member] | First Lien Senior Secured [Member] | Tosca Services, LLC [Member]
Fair Value	[4],[10]	$ 5,746,287	[1],[2]	$ 5,640,420	[5],[6],[7]
Amortized Cost	[10]	$ 6,786,034	[1]	$ 6,847,551	[5],[6]
Percentage of Net Assets	[10]	1.20%	[1]	1.60%	[5],[6]
Interest Rate	[10]		[1]		[5],[6]
Principal / Par	[10]	$ 6,829,192	[1]	$ 6,899,596	[5],[6]
Maturity Date	[10]	Aug. 18, 2027	[1]	Aug. 18, 2027	[5],[6]
Debt Investments [Member] | Containers and Packaging [Member] | First Lien Senior Secured [Member] | Pretium PKG Holdings, Inc. [Member]
Fair Value	[3],[4],[5],[6],[7],[10]			$ 4,764,741
Amortized Cost	[3],[5],[6],[10]			$ 5,892,087
Percentage of Net Assets	[3],[5],[6],[10]			1.30%
Interest Rate	[3],[5],[6],[10]
Principal / Par	[3],[5],[6],[10]			$ 5,940,000
Maturity Date	[3],[5],[6],[10]			Sep. 22, 2028
Debt Investments [Member] | Containers and Packaging [Member] | First Lien Senior Secured [Member] | Sabert Corporation [Member]
Fair Value	[2],[3],[4],[6],[7]			$ 2,091,299
Amortized Cost	[3],[6]			$ 2,109,801
Percentage of Net Assets	[3],[6]			0.60%
Interest Rate	[3],[6]
Principal / Par	[3],[6]			$ 2,101,808
Maturity Date	[3],[6]			Nov. 26, 2026
Debt Investments [Member] | Containers and Packaging [Member] | Second Lien Senior Secured [Member] | Pretium PKG Holdings, Inc. [Member]
Fair Value	[1],[2],[3],[4],[10]	$ 4,345,205
Amortized Cost	[1],[3],[10]	$ 5,479,051
Percentage of Net Assets	[1],[3],[10]	0.90%
Interest Rate	[1],[3],[10]
Principal / Par	[1],[3],[10]	$ 5,517,720
Maturity Date	[1],[3],[10]	Oct. 02, 2028
Debt Investments [Member] | Containers and Packaging [Member] | Second Lien Senior Secured [Member] | Pretium PKG Holdings, Inc. [Member]
Fair Value	[1],[2],[4],[10]	$ 840,000
Amortized Cost	[1],[10]	$ 1,984,274
Percentage of Net Assets	[1],[10]	0.20%
Interest Rate	[1],[10]
Principal / Par	[1],[10]	$ 2,000,000
Maturity Date	[1],[10]	Sep. 30, 2029
Debt Investments [Member] | Containers and Packaging [Member] | Second Lien Senior Secured [Member] | Pretium PKG Holdings, Inc. [Member]
Fair Value	[4],[5],[6],[7],[10]			$ 1,247,510
Amortized Cost	[5],[6],[10]			$ 1,982,769
Percentage of Net Assets	[5],[6],[10]			0.30%
Interest Rate	[5],[6],[10]
Principal / Par	[5],[6],[10]			$ 2,000,000
Maturity Date	[5],[6],[10]			Sep. 30, 2029
Debt Investments [Member] | Healthcare Equipment and Supplies [Member] | First Lien Senior Secured [Member] | Lifescan Global Corporation [Member]
Fair Value	[1],[2],[4],[8],[10]	$ 4,068,346
Amortized Cost	[1],[8],[10]	$ 5,394,007
Percentage of Net Assets	[1],[8],[10]	0.90%
Interest Rate	[1],[8],[10]
Principal / Par	[1],[8],[10]	$ 5,406,440
Maturity Date	[1],[8],[10]	Dec. 31, 2026
Debt Investments [Member] | Healthcare Equipment and Supplies [Member] | First Lien Senior Secured [Member] | NSM Top Holdings Corp.[Member]
Fair Value	[4],[10]	$ 4,751,145	[1],[2]	$ 4,450,967	[5],[6],[7]
Amortized Cost	[10]	$ 4,870,473	[1]	$ 4,916,697	[5],[6]
Percentage of Net Assets	[10]	1%	[1]	1.20%	[5],[6]
Interest Rate	[10]		[1]		[5],[6]
Principal / Par	[10]	$ 4,885,496	[1]	$ 4,936,387	[5],[6]
Maturity Date	[10]	Nov. 12, 2026	[1]	Nov. 12, 2026	[5],[6]
Debt Investments [Member] | Healthcare Equipment and Supplies [Member] | First Lien Senior Secured [Member] | Lifescan Global Corporation One [Member]
Fair Value	[4],[5],[6],[7],[10]			$ 4,471,883
Amortized Cost	[5],[6],[10]			$ 6,121,209
Percentage of Net Assets	[5],[6],[10]			1.20%
Interest Rate	[5],[6],[10]
Principal / Par	[5],[6],[10]			$ 6,146,918
Maturity Date	[5],[6],[10]			Oct. 01, 2024
Debt Investments [Member] | Healthcare Technology [Member] | First Lien Senior Secured [Member] | Navicure, Inc.[Member]
Fair Value	[4],[10]	$ 4,601,140	[1],[2],[8]	$ 4,556,428	[5],[6],[7]
Amortized Cost	[10]	$ 4,579,772	[1],[8]	$ 4,627,579	[5],[6]
Percentage of Net Assets	[10]	1%	[1],[8]	1.30%	[5],[6]
Interest Rate	[10]		[1],[8]		[5],[6]
Principal / Par	[10]	$ 4,578,249	[1],[8]	$ 4,625,815	[5],[6]
Maturity Date	[10]	Oct. 22, 2026	[1],[8]	Oct. 22, 2026	[5],[6]
Debt Investments [Member] | Healthcare Technology [Member] | First Lien Senior Secured [Member] | Verscend Holding Corp. [Member]
Fair Value	[4],[10]	$ 6,029,913	[1],[2]	$ 6,037,455	[5],[6],[7]
Amortized Cost	[10]	$ 5,994,020	[1]	$ 6,052,127	[5],[6]
Percentage of Net Assets	[10]	1.30%	[1]	1.70%	[5],[6]
Interest Rate	[10]		[1]		[5],[6]
Principal / Par	[10]	$ 6,002,422	[1]	$ 6,063,985	[5],[6]
Maturity Date	[10]	Aug. 27, 2025	[1]	Aug. 27, 2025	[5],[6]
Debt Investments [Member] | Healthcare Technology [Member] | First Lien Senior Secured [Member] | Ensemble RCM, LLC [Member]
Fair Value	[4],[5],[6],[7],[10]			$ 5,636,135
Amortized Cost	[5],[6],[10]			$ 5,618,296
Percentage of Net Assets	[5],[6],[10]			1.60%
Interest Rate	[5],[6],[10]
Principal / Par	[5],[6],[10]			$ 5,689,474
Maturity Date	[5],[6],[10]			Jul. 24, 2026
Debt Investments [Member] | Healthcare Technology [Member] | First Lien Senior Secured [Member] | Zelis Cost Management Buyer, Inc. [Member]
Fair Value	[4],[5],[6],[7],[10]			$ 4,701,319
Amortized Cost	[5],[6],[10]			$ 4,738,488
Percentage of Net Assets	[5],[6],[10]			1.30%
Interest Rate	[5],[6],[10]
Principal / Par	[5],[6],[10]			$ 4,744,302
Maturity Date	[5],[6],[10]			Sep. 30, 2026
Debt Investments [Member] | Pharmaceuticals [Member] | First Lien Senior Secured [Member] | Padagis, LLC [Member]
Fair Value	[1],[2],[4],[10]	$ 6,382,353
Amortized Cost	[1],[10]	$ 6,558,110
Percentage of Net Assets	[1],[10]	1.40%
Interest Rate	[1],[10]
Principal / Par	[1],[10]	$ 6,588,235
Maturity Date	[1],[10]	Jul. 31, 2028
Debt Investments [Member] | Pharmaceuticals [Member] | First Lien Senior Secured [Member] | Padagis LLC[Member]
Fair Value	[4],[5],[6],[7],[10]			$ 5,874,532
Amortized Cost	[5],[6],[10]			$ 6,553,975
Percentage of Net Assets	[5],[6],[10]			1.60%
Interest Rate	[5],[6],[10]
Principal / Par	[5],[6],[10]			$ 6,588,235
Maturity Date	[5],[6],[10]			Jul. 31, 2028
Debt Investments [Member] | Oil, Gas and Consumable Fuels [Member] | First Lien Senior Secured [Member] | Prairie ECI Acquiror LP [Member]
Fair Value	[4],[10]	$ 9,679,227	[1],[2]	$ 7,000,757	[5],[6],[7]
Amortized Cost	[10]	$ 9,533,263	[1]	$ 7,013,472	[5],[6]
Percentage of Net Assets	[10]	2.10%	[1]	1.90%	[5],[6]
Interest Rate	[10]		[1]		[5],[6]
Principal / Par	[10]	$ 9,656,148	[1]	$ 7,182,326	[5],[6]
Maturity Date	[10]	Mar. 11, 2026	[1]	Mar. 11, 2026	[5],[6]
Debt Investments [Member] | Oil, Gas and Consumable Fuels [Member] | First Lien Senior Secured [Member] | BCP Renaissance Parent LLC [Member]
Fair Value	[4],[5],[6],[7],[10]			$ 7,511,377
Amortized Cost	[5],[6],[10]			$ 7,554,173
Percentage of Net Assets	[5],[6],[10]			2.10%
Interest Rate	[5],[6],[10]
Principal / Par	[5],[6],[10]			$ 7,569,511
Maturity Date	[5],[6],[10]			Oct. 30, 2026
Debt Investments [Member] | Oil, Gas and Consumable Fuels [Member] | First Lien Senior Secured [Member] | Traverse Midstream Partners LLC [Member]
Fair Value	[4],[5],[6],[7],[10]			$ 3,160,798
Amortized Cost	[5],[6],[10]			$ 3,153,165
Percentage of Net Assets	[5],[6],[10]			0.90%
Interest Rate	[5],[6],[10]
Principal / Par	[5],[6],[10]			$ 3,162,774
Maturity Date	[5],[6],[10]			Sep. 27, 2024
Debt Investments [Member] | Road and Rail [Member] | First Lien Senior Secured [Member] | PS Holdco, LLC [Member]
Fair Value	[3],[4]	$ 5,292,996	[1],[2]	$ 5,060,162	[5],[6],[7]
Amortized Cost	[3]	$ 5,361,695	[1]	$ 5,411,542	[5],[6]
Percentage of Net Assets	[3]	1.10%	[1]	1.40%	[5],[6]
Interest Rate	[3]		[1]		[5],[6]
Principal / Par	[3]	$ 5,378,706	[1]	$ 5,433,731	[5],[6]
Maturity Date	[3]	Oct. 31, 2028	[1]	Oct. 31, 2028	[5],[6]
Debt Investments [Member] | Real Estate Management and Development [Member] | First Lien Senior Secured [Member] | RealPage, Inc [Member]
Fair Value	[10]	$ 6,804,456	[1],[2],[4]	$ 6,587,613	[5],[6],[7]
Amortized Cost	[10]	$ 6,835,914	[1]	$ 6,903,165	[5],[6]
Percentage of Net Assets	[10]	1.50%	[1]	1.80%	[5],[6]
Interest Rate	[10]		[1]		[5],[6]
Principal / Par	[10]	$ 6,842,500	[1]	$ 6,912,500	[5],[6]
Maturity Date	[10]	Feb. 18, 2028	[1]	Feb. 18, 2028	[5],[6]
Debt Investments [Member] | Internet Software and Services [Member] | First Lien Senior Secured [Member] | Corelogic, Inc. [Member]
Fair Value	[4],[5],[6],[7],[10]			$ 6,618,739
Amortized Cost	[5],[6],[10]			$ 7,893,718
Percentage of Net Assets	[5],[6],[10]			1.80%
Interest Rate	[5],[6],[10]
Principal / Par	[5],[6],[10]			$ 7,900,000
Maturity Date	[5],[6],[10]			Apr. 14, 2028
Debt Investments [Member] | Internet Software and Services [Member] | First Lien Senior Secured [Member] | Red Planet Borrower, LLC [Member]
Fair Value	[4],[10]	$ 7,532,146	[1],[2]	$ 4,984,900	[5],[6],[7]
Amortized Cost	[10]	$ 7,793,625	[1]	$ 7,866,755	[5],[6]
Percentage of Net Assets	[10]	1.60%	[1]	1.40%	[5],[6]
Interest Rate	[10]		[1]		[5],[6]
Principal / Par	[10]	$ 7,820,000	[1]	$ 7,900,000	[5],[6]
Maturity Date	[10]	Oct. 02, 2028	[1]	Oct. 02, 2028	[5],[6]
Debt Investments [Member] | Electrical Equipment [Member] | First Lien Senior Secured [Member] | Watlow Electric Manufacturing Company [Member]
Fair Value	[4],[10]	$ 3,199,852	[1],[2]	$ 3,165,007	[5],[6],[7]
Amortized Cost	[10]	$ 3,176,511	[1]	$ 3,260,223	[5],[6]
Percentage of Net Assets	[10]	0.70%	[1]	0.90%	[5],[6]
Interest Rate	[10]		[1]		[5],[6]
Principal / Par	[10]	$ 3,193,863	[1]	$ 3,281,909	[5],[6]
Maturity Date	[10]	Mar. 02, 2028	[1]	Mar. 02, 2028	[5],[6]
Debt Investments [Member] | Electrical Equipment [Member] | Second Lien Senior Secured [Member] | Energy Acquisition LP [Member]
Fair Value	[4]	$ 2,474,912	[1],[2],[8]	$ 2,271,013	[5],[6],[7]
Amortized Cost		$ 2,747,137	[1],[8]	$ 2,726,657	[5],[6]
Percentage of Net Assets		0.50%	[1],[8]	0.60%	[5],[6]
Interest Rate			[1],[8]		[5],[6]
Principal / Par		$ 2,812,400	[1],[8]	$ 2,812,400	[5],[6]
Maturity Date		Jun. 25, 2026	[1],[8]	Jun. 25, 2026	[5],[6]
Debt Investments [Member] | Structured Note [Member] | Thayer Park CLO, Ltd. [Member]
Fair Value	[1],[2],[4],[9]	$ 1,186,402
Amortized Cost	[1],[9]	$ 1,265,819
Percentage of Net Assets	[1],[9]	0.30%
Interest Rate	[1],[9]
Principal / Par	[1],[9]	$ 1,300,000
Maturity Date	[1],[9]	Apr. 20, 2034
Debt Investments [Member] | Structured Note [Member] | CLO Mezzanine [Member] | 522 Funding CLO 2020-6, Ltd. [Member]
Fair Value	[4]	$ 2,500,181	[1],[2],[8],[9]	$ 2,188,332	[5],[6],[7],[12]
Amortized Cost		$ 2,730,416	[1],[8],[9]	$ 2,723,983	[5],[6],[12]
Percentage of Net Assets		0.50%	[1],[8],[9]	0.70%	[5],[6],[12]
Interest Rate			[1],[8],[9]		[5],[6],[12]
Principal / Par		$ 2,800,000	[1],[8],[9]	$ 2,800,000	[5],[6],[12]
Maturity Date		Oct. 23, 2034	[1],[8],[9]	Oct. 23, 2034	[5],[6],[12]
Debt Investments [Member] | Structured Note [Member] | CLO Mezzanine [Member] | Carlyle US CLO 2020-2, Ltd [Member]
Fair Value	[4]	$ 3,612,187	[1],[2],[8],[9]	$ 3,213,525	[5],[6],[7],[12]
Amortized Cost		$ 3,898,845	[1],[8],[9]	$ 3,889,711	[5],[6],[12]
Percentage of Net Assets		0.80%	[1],[8],[9]	0.90%	[5],[6],[12]
Interest Rate			[1],[8],[9]		[5],[6],[12]
Principal / Par		$ 4,000,000	[1],[8],[9]	$ 4,000,000	[5],[6],[12]
Maturity Date		Jan. 25, 2035	[1],[8],[9]	Jan. 25, 2035	[5],[6],[12]
Debt Investments [Member] | Structured Note [Member] | CLO Mezzanine [Member] | Elmwood CLO III Ltd. [Member]
Fair Value	[4]	$ 1,822,391	[1],[2],[8],[9]	$ 1,600,079	[5],[6],[7],[12]
Amortized Cost		$ 1,933,361	[1],[8],[9]	$ 1,927,196	[5],[6],[12]
Percentage of Net Assets		0.40%	[1],[8],[9]	0.40%	[5],[6],[12]
Interest Rate			[1],[8],[9]		[5],[6],[12]
Principal / Par		$ 2,000,000	[1],[8],[9]	$ 2,000,000	[5],[6],[12]
Maturity Date		Oct. 20, 2034	[1],[8],[9]	Oct. 20, 2034	[5],[6],[12]
Debt Investments [Member] | Structured Note [Member] | CLO Mezzanine [Member] | GoldenTree Loan Management US 2020-7A [Member]
Fair Value	[4],[5],[6],[7],[12]			$ 1,532,172
Amortized Cost	[5],[6],[12]			$ 1,895,346
Percentage of Net Assets	[5],[6],[12]			0.40%
Interest Rate	[5],[6],[12]
Principal / Par	[5],[6],[12]			$ 2,000,000
Maturity Date	[5],[6],[12]			Apr. 20, 2034
Debt Investments [Member] | Structured Note [Member] | CLO Mezzanine [Member] | GoldenTree Loan Management US 2021-10A [Member]
Fair Value	[4]	$ 1,079,204	[1],[2],[9]	$ 983,411	[5],[6],[7],[12]
Amortized Cost		$ 1,219,485	[1],[9]	$ 1,216,595	[5],[6],[12]
Percentage of Net Assets		0.20%	[1],[9]	0.30%	[5],[6],[12]
Interest Rate			[1],[9]		[5],[6],[12]
Principal / Par		$ 1,250,000	[1],[9]	$ 1,250,000	[5],[6],[12]
Maturity Date		Jul. 20, 2034	[1],[9]	Jul. 20, 2034	[5],[6],[12]
Debt Investments [Member] | Structured Note [Member] | CLO Mezzanine [Member] | GoldenTree Loan Management US 2021-9A [Member]
Fair Value	[4]	$ 1,795,407	[1],[2],[9]	$ 1,558,971	[5],[6],[7],[12]
Amortized Cost		$ 1,907,039	[1],[9]	$ 1,896,778	[5],[6],[12]
Percentage of Net Assets		0.40%	[1],[9]	0.40%	[5],[6],[12]
Interest Rate			[1],[9]		[5],[6],[12]
Principal / Par		$ 2,000,000	[1],[9]	$ 2,000,000	[5],[6],[12]
Maturity Date		Jan. 20, 2033	[1],[9]	Jan. 20, 2033	[5],[6],[12]
Debt Investments [Member] | Structured Note [Member] | CLO Mezzanine [Member] | Barings CLO 2013-IA Class FR [Member]
Fair Value	[4],[5],[6],[7],[12]			$ 1,788,731
Amortized Cost	[5],[6],[12]			$ 1,935,102
Percentage of Net Assets	[5],[6],[12]			0.50%
Interest Rate	[5],[6],[12]
Principal / Par	[5],[6],[12]			$ 2,000,000
Maturity Date	[5],[6],[12]			Jan. 20, 2028
Debt Investments [Member] | Structured Note [Member] | CLO Mezzanine [Member] | Magnetite CLO Ltd 2015-16A [Member]
Fair Value	[4],[5],[6],[7],[12]			$ 854,968
Amortized Cost	[5],[6],[12]			$ 842,116
Percentage of Net Assets	[5],[6],[12]			0.20%
Interest Rate	[5],[6],[12]
Principal / Par	[5],[6],[12]			$ 1,000,000
Maturity Date	[5],[6],[12]			Jan. 18, 2028
Debt Investments [Member] | Structured Note [Member] | CLO Mezzanine [Member] | Thayer Park CLO, Ltd. [Member]
Fair Value	[4],[5],[6],[7],[12]			$ 1,012,532
Amortized Cost	[5],[6],[12]			$ 1,262,503
Percentage of Net Assets	[5],[6],[12]			0.30%
Interest Rate	[5],[6],[12]
Principal / Par	[5],[6],[12]			$ 1,300,000
Maturity Date	[5],[6],[12]			Apr. 20, 2034
Debt Investments [Member] | Structured Note [Member] | CLO Mezzanine [Member] | GoldenTree Loan Management US 2020-7A [Member]
Fair Value	[1],[2],[4],[9]	$ 1,768,848
Amortized Cost	[1],[9]	$ 1,904,602
Percentage of Net Assets	[1],[9]	0.40%
Interest Rate	[1],[9]
Principal / Par	[1],[9]	$ 2,000,000
Maturity Date	[1],[9]	Apr. 20, 2034
Debt Investments [Member] | Structured Subordinated Note [Member] | CLO Equity [Member] | Ares CLO LTD 2021-62A [Member]
Fair Value	[4]	$ 3,170,040	[1],[2],[9]	$ 3,679,447	[5],[6],[7],[12]
Amortized Cost		$ 3,924,864	[1],[9]	$ 4,225,172	[5],[6],[12]
Percentage of Net Assets		0.60%	[1],[9]	1%	[5],[6],[12]
Interest Rate			[1],[9]		[5],[6],[12]
Principal / Par		$ 5,000,000	[1],[9]	$ 5,000,000	[5],[6],[12]
Maturity Date			[1],[9]		[5],[6],[12]
Debt Investments [Member] | Structured Subordinated Note [Member] | CLO Equity [Member] | Babson CLO 2018-4A, Ltd. [Member]
Fair Value	[4]	$ 1,303,519	[1],[2],[9]	$ 1,637,600	[5],[6],[7],[12]
Amortized Cost		$ 1,693,196	[1],[9]	$ 1,856,928	[5],[6],[12]
Percentage of Net Assets		0.30%	[1],[9]	0.50%	[5],[6],[12]
Interest Rate			[1],[9]		[5],[6],[12]
Principal / Par		$ 4,000,000	[1],[9]	$ 4,000,000	[5],[6],[12]
Maturity Date			[1],[9]		[5],[6],[12]
Debt Investments [Member] | Structured Subordinated Note [Member] | CLO Equity [Member] | Dryden 86 CLO, Ltd. [Member]
Fair Value	[4]	$ 3,077,510	[1],[2],[9]	$ 3,732,464	[5],[6],[7],[12]
Amortized Cost		$ 4,132,788	[1],[9]	$ 4,395,442	[5],[6],[12]
Percentage of Net Assets		0.70%	[1],[9]	1%	[5],[6],[12]
Interest Rate			[1],[9]		[5],[6],[12]
Principal / Par		$ 6,000,000	[1],[9]	$ 6,000,000	[5],[6],[12]
Maturity Date			[1],[9]		[5],[6],[12]
Debt Investments [Member] | Structured Subordinated Note [Member] | CLO Equity [Member] | HPS Loan Management 12-2018, Ltd. [Member]
Fair Value	[1],[2],[4],[9]	$ 3,360,577
Amortized Cost	[1],[9]	$ 3,893,560
Percentage of Net Assets	[1],[9]	0.70%
Interest Rate	[1],[9]
Principal / Par	[1],[9]	$ 7,500,000
Maturity Date	[1],[9]	Jul. 18, 2031
Debt Investments [Member] | Structured Subordinated Note [Member] | CLO Equity [Member] | Long Point Park CLO, Ltd. [Member]
Fair Value	[4]	$ 1,710,370	[1],[2],[9]	$ 2,550,735	[5],[6],[7],[12]
Amortized Cost		$ 3,126,918	[1],[9]	$ 3,836,615	[5],[6],[12]
Percentage of Net Assets		0.40%	[1],[9]	0.70%	[5],[6],[12]
Interest Rate			[1],[9]		[5],[6],[12]
Principal / Par		$ 6,358,000	[1],[9]	$ 6,358,000	[5],[6],[12]
Maturity Date			[1],[9]		[5],[6],[12]
Debt Investments [Member] | Structured Subordinated Note [Member] | CLO Equity [Member] | Regatta XII Funding Ltd. [Member]
Fair Value	[4]	$ 3,310,569	[1],[2],[9]	$ 3,845,111	[5],[6],[7],[12]
Amortized Cost		$ 4,117,741	[1],[9]	$ 4,430,480	[5],[6],[12]
Percentage of Net Assets		0.70%	[1],[9]	1.10%	[5],[6],[12]
Interest Rate			[1],[9]		[5],[6],[12]
Principal / Par		$ 6,000,000	[1],[9]	$ 6,000,000	[5],[6],[12]
Maturity Date			[1],[9]		[5],[6],[12]
Debt Investments [Member] | Structured Subordinated Note [Member] | CLO Equity [Member] | Signal Peak CLO, LLC [Member]
Fair Value	[4]	$ 1,695,404	[1],[2],[9]	$ 2,253,444	[5],[6],[7],[12]
Amortized Cost		$ 2,250,892	[1],[9]	$ 2,437,836	[5],[6],[12]
Percentage of Net Assets		0.40%	[1],[9]	0.60%	[5],[6],[12]
Interest Rate			[1],[9]		[5],[6],[12]
Principal / Par		$ 5,000,000	[1],[9]	$ 5,000,000	[5],[6],[12]
Maturity Date			[1],[9]		[5],[6],[12]
Debt Investments [Member] | Structured Subordinated Note [Member] | CLO Equity [Member] | Stratus CLO Series 2021-1A [Member]
Fair Value	[4]	$ 1,325,320	[1],[2],[9]	$ 1,094,792	[5],[6],[7],[12]
Amortized Cost		$ 1,338,479	[1],[9]	$ 1,539,549	[5],[6],[12]
Percentage of Net Assets		0.30%	[1],[9]	0.30%	[5],[6],[12]
Interest Rate			[1],[9]		[5],[6],[12]
Principal / Par		$ 2,000,000	[1],[9]	$ 2,000,000	[5],[6],[12]
Maturity Date			[1],[9]		[5],[6],[12]
Debt Investments [Member] | Structured Subordinated Note [Member] | CLO Equity [Member] | HPS Loan Management 12-2018, Ltd. [Member]
Fair Value	[4],[5],[6],[7],[12]			$ 3,006,631
Amortized Cost	[5],[6],[12]			$ 4,290,326
Percentage of Net Assets	[5],[6],[12]			0.80%
Interest Rate	[5],[6],[12]
Principal / Par	[5],[6],[12]			$ 7,500,000
Maturity Date	[5],[6],[12]
Debt Investments [Member] | Technology Hardware, Storage and Peripherals [Member] | First Lien Senior Secured [Member] | Digi International Inc. [Member]
Fair Value	[3],[4],[5],[6],[7],[12]			$ 4,353,265
Amortized Cost	[3],[5],[6],[12]			$ 4,308,443
Percentage of Net Assets	[3],[5],[6],[12]			1.20%
Interest Rate	[3],[5],[6],[12]
Principal / Par	[3],[5],[6],[12]			$ 4,386,161
Maturity Date	[3],[5],[6],[12]			Dec. 22, 2028
Debt Investments [Member] | Industrial Conglomerates [Member] | First Lien Senior Secured [Member] | Filtration Group Corporation [Member]
Fair Value	[4],[5],[6],[7],[10]			$ 3,887,452
Amortized Cost	[5],[6],[10]			$ 3,941,824
Percentage of Net Assets	[5],[6],[10]			1.10%
Interest Rate	[5],[6],[10]
Principal / Par	[5],[6],[10]			$ 3,950,000
Maturity Date	[5],[6],[10]			Oct. 20, 2028
Debt Investments [Member] | Textiles, Apparel and Luxury Goods [Member] | First Lien Senior Secured [Member] | Rodan & Fields, LLC [Member]
Fair Value	[4],[5],[6],[7],[10]			$ 640,063
Amortized Cost	[5],[6],[10]			$ 1,561,291
Percentage of Net Assets	[5],[6],[10]			0.20%
Interest Rate	[5],[6],[10]
Principal / Par	[5],[6],[10]			$ 1,714,103
Maturity Date	[5],[6],[10]			Jun. 16, 2025
Debt Investments [Member] | Airlines [Member] | First Lien Senior Secured [Member] | United Airlines, Inc. [Member]
Fair Value	[4],[5],[6],[7],[10],[12]			$ 7,809,909
Amortized Cost	[5],[6],[10],[12]			$ 7,944,048
Percentage of Net Assets	[5],[6],[10],[12]			2.10%
Interest Rate	[5],[6],[10],[12]
Principal / Par	[5],[6],[10],[12]			$ 7,887,124
Maturity Date	[5],[6],[10],[12]			Apr. 21, 2028
Professional Services [Member] | Debt Investments [Member] | First Lien Senior Secured [Member] | Castle US Holding Corporation [Member]
Fair Value	[1],[2],[3],[4]	$ 1,384,163
Amortized Cost	[1],[3]	$ 1,951,797
Percentage of Net Assets	[1],[3]	0.30%
Interest Rate	[1],[3]
Principal / Par	[1],[3]	$ 1,957,895
Maturity Date	[1],[3]	Jan. 27, 2027
Professional Services [Member] | Debt Investments [Member] | First Lien Senior Secured [Member] | Castle US Holding Corporations [Member]
Fair Value	[1],[2],[3],[4],[10]	$ 4,184,338
Amortized Cost	[1],[3],[10]	$ 5,943,311
Percentage of Net Assets	[1],[3],[10]	0.90%
Interest Rate	[1],[3],[10]
Principal / Par	[1],[3],[10]	$ 5,986,178
Maturity Date	[1],[3],[10]	Jan. 31, 2027
Internet Software and Services [Member] | Digi International Inc. [Member] | First Lien Senior Secured [Member] | Corelogic, Inc. [Member]
Fair Value	[1],[2],[4],[10]	$ 7,631,030
Amortized Cost	[1],[10]	$ 7,813,343
Percentage of Net Assets	[1],[10]	1.70%
Interest Rate	[1],[10]
Principal / Par	[1],[10]	$ 7,820,000
Maturity Date	[1],[10]	Apr. 14, 2028
Indicor, LLC [Member] | Debt Investments [Member] | Software [Member]
Fair Value	[1],[2],[4],[10]	$ 3,983,707
Amortized Cost	[1],[10]	$ 3,844,297
Percentage of Net Assets	[1],[10]	0.90%
Interest Rate	[1],[10]
Principal / Par	[1],[10]	$ 3,970,050
Maturity Date	[1],[10]	Nov. 22, 2029
[1]As of December 31, 2023, all investments are non-controlled, non-affiliated investments. Non-controlled, non-affiliated investments are defined as investments in which the Company owns less than 5% of the portfolio company’s outstanding voting securities and does not have the power to exercise control over the management or policies of such portfolio company.[2]As of December 31, 2023, the tax cost of the Company’s investments approximates their amortized cost.[3]Security or portion thereof held within Palmer Square BDC Funding II, LLC (“PS BDC Funding II”) and is pledged as collateral supporting the amounts outstanding under a revolving credit facility with Wells Fargo Bank, National Association (“WFB”) (see Note 6 to the consolidated financial statements).[4]The amortized cost represents the original cost adjusted for the amortization of discounts and premiums, as applicable, on debt investments using the effective interest method.[5]As of December 31, 2022, all investments are non-controlled, non-affiliated investments. Non-controlled, non-affiliated investments are defined as investments in which the Company owns less than 5% of the portfolio company’s outstanding voting securities and does not have the power to exercise control over the management or policies of such portfolio company.[6]Loan contains a variable rate structure, subject to an interest rate floor. Variable rate loans bear interest at a rate that may be determined by reference to either the London Interbank Offered Rate (“LIBOR” or “L”) (which can include one-, two-, three- or six-month LIBOR), SOFR + Credit Spread Adjustment (S+CSA), where the Credit Spread Adjustment is a defined additional spread amount based on the tenor of SOFR the borrower selects, or an alternate base rate (which can include the Federal Funds Effective Rate or the Prime Rate), at the borrower’s option, and which reset periodically based on the terms of the loan agreement. For the holdings as of December 31, 2022 that have S+CSA as the base rate, the CSA is 10bp for 1M SOFR, 15bp for 3M SOFR, and 25bp for 6M SOFR. For the avoidance of doubt, loan floors apply to S+CSA, not S.[7]As of December 31, 2022, the tax cost of the Company’s investments approximates their amortized cost.[8]Loan contains a variable rate structure, subject to an interest rate floor. Variable rate loans bear interest at a rate that may be determined by reference to either the London Interbank Offered Rate (“LIBOR” or “L”) (which can include one-, two-, three- or six-month LIBOR), the Secured Overnight Financing Rate (“SOFR” or “S”), SOFR + Credit Spread Adjustment (S+CSA), where the Credit Spread Adjustment is a defined additional spread amount based on the tenor of SOFR the borrower selects, the Euro Interbank Offered Rate (“Euribor” or “E”), the U.S. Prime Rate (“P”), or an alternate base rate (which can include the Federal Funds Effective Rate), at the borrower’s option, and which reset periodically based on the terms of the loan agreement. For the holdings as of December 31, 2023 that have S+CSA as the base rate, the credit spread adjustment ranges from 10bps to 42.8bps.[9]Non-qualifying investment as defined by Section 55(a) of the Investment Company Act of 1940. The Company may not acquire any non-qualifying asset unless, at the time of acquisition, qualifying assets represent at least 70% of the Company’s total assets. As of December 31, 2023, 13.2% of the Company’s total assets were in non-qualifying investments.[10]Security or portion thereof held within Palmer Square BDC Funding I, LLC (“PS BDC Funding”) and is pledged as collateral supporting the amounts outstanding under a revolving credit facility with Bank of America, N.A. (“BofA N.A.”) (see Note 6 to the consolidated financial statements).[11]Investments or a portion of investments are unsettled as of December 31, 2022.[12]Non-qualifying investment as defined by Section 55(a) of the Investment Company Act of 1940. The Company may not acquire any non-qualifying asset unless, at the time of acquisition, qualifying assets represent at least 70% of the Company’s total assets. As of December 31, 2022, 14.9% of the Company’s total assets were in non-qualifying investments.[13]Of the $5,000,000 commitment to Patriot Growth Insurance Services, LLC, $4,650,000 was unfunded as of December 31, 2023.[14]Of the $2,625,000 commitment to Accession Risk Management Group, Inc., $2,457,857.14 was unfunded as of December 31, 2023.[15]Of the $899,242.50 commitment to Tank Holding Corp., $597,000 was unfunded as of December 31, 2023.

Consolidated Schedule of Invest

Consolidated Schedule of Investments II - USD ($)	Dec. 31, 2023		Dec. 31, 2022
Debt Investments [Member] | Fidelity Investments Money Market Government Portfolio - Institutional Class [Member]
Short-Term Investments
Cost	$ 63,763,005	[1],[2],[3]	$ 50,347,215	[4]
Number of Shares (in Shares)	63,763,005	[1],[2],[3]	50,347,215	[4]
Percentage of Net Assets	13.80%	[1],[2],[3]	13.90%	[4]
Fair Value	$ 63,763,005	[1],[2],[3]	$ 50,347,215	[4]
Debt Investments [Member] | Investments [Member]
Short-Term Investments
Cost	$ 1,159,135,422		$ 1,120,099,935
Percentage of Net Assets	240%		280%
Fair Value	$ 1,108,810,753		$ 1,017,211,732
Debt Investments [Member] | Liabilities in Excess of Other Assets [Member]
Short-Term Investments
Percentage of Net Assets	(140.00%)		(180.00%)
Fair Value	$ (646,855,360)		$ (653,768,250)
Debt Investments [Member] | Net Assets [Member]
Short-Term Investments
Percentage of Net Assets	100%		100%
Fair Value	$ 461,955,393		$ 363,443,482
Total Short-Term Investments [Member]
Short-Term Investments
Cost	$ 63,763,005		$ 50,347,215
Number of Shares (in Shares)	63,763,005		50,347,215
Percentage of Net Assets	13.80%		13.90%
Fair Value	$ 63,763,005		$ 50,347,215
[1] As of December 31, 2022, the tax cost of the Company’s investments approximates their amortized cost. Security or portion thereof held within Palmer Square BDC Funding I, LLC (“PS BDC Funding”) and is pledged as collateral supporting the amounts outstanding under a revolving credit facility with Bank of America, N.A. (“BofA N.A.”) (see Note 6 to the consolidated financial statements). Security or portion thereof held within Palmer Square BDC Funding II, LLC (“PS BDC Funding II”) and is pledged as collateral supporting the amounts outstanding under a revolving credit facility with Wells Fargo Bank, National Association (“WFB”) (see Note 6 to the consolidated financial statements). 7-day effective yield as of December 31, 2022.

Consolidated Schedule of Inve_2

Consolidated Schedule of Investments II (Parentheticals)	Dec. 31, 2023	Dec. 31, 2022
Consolidated Schedule of Investments II [Abstract]
Fidelity Investments Money Market Government Portfolio	5.29%	4.10%

Organization

Organization	12 Months Ended
	Dec. 31, 2023
Organization [Abstract]
Organization	Note 1. Organization Organization Palmer Square Capital BDC Inc. (the “Company”) is a financial services company that primarily lends to and invests in corporate debt securities of companies, including small to large private U.S. companies. The Company was organized as a Maryland corporation on August 26, 2019 and is structured as an externally managed, non-diversified closed-end management investment company. 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”). Beginning with its taxable year ending December 31, 2020, the Company has elected to be treated as a regulated investment company (“RIC”) under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”) and expects to qualify as a RIC each year thereafter. The Company commenced operations on January 23, 2020. Palmer Square BDC Funding I, LLC (“PS BDC Funding”) was formed on January 21, 2020 and entered into a senior, secured revolving credit facility with Bank of America, N.A. (“BofA N.A.”) Palmer Square BDC Funding II LLC (“PS BDC Funding II”) was formed on September 8, 2020 and entered into a senior, secured credit facility with Wells Fargo, National Association (“WFB”). The Company’s investment objective is to maximize total return, comprised of current income and capital appreciation. The Company’s current investment focus is guided by two strategies that facilitate its investment opportunities and core competencies: (1) investing in corporate debt securities and, to a lesser extent, (2) investing in collateralized loan obligation (“CLO”) structured credit funds that typically own corporate debt securities, including the equity and junior debt tranches of CLOs. To a limited extent, the Company may enter into derivatives transactions, which may utilize instruments such as forward contracts, currency options and interest rate swaps, caps, collars and floors to seek to hedge against fluctuations in the relative values of the Company’s portfolio positions from changes in currency exchange rates and market interest rates or to earn income and enhance the Company’s total returns. The Company may receive or purchase warrants or rights to acquire equity or other securities in connection with making a debt investment in a company. During the years ended December 31, 2023, 2022, and 2021, the Company did not invest in any derivative contracts. The Company is externally managed by Palmer Square BDC Advisor LLC (the “Investment Advisor”), an investment adviser that is registered with the Securities and Exchange Commission (the “SEC”) under the Investment Advisers Act of 1940, pursuant to an investment advisory agreement between the Company and the Investment Advisor (the “Advisory Agreement”). The Investment Advisor, in its capacity as administrator (the “Administrator”), provides the administrative services necessary for the Company to operate pursuant to an administration agreement between the Company and the Administrator (the “Administration Agreement”). The Company’s fiscal year ends on December 31. The Company has two wholly-owned subsidiaries: PS BDC Funding, a special purpose wholly-owned subsidiary established for utilizing the Company’s revolving credit facility with BofA N.A., and PS BDC Funding II, a special purpose wholly-owned subsidiary established for utilizing the Company’s credit facility with WFB. These subsidiaries are consolidated in the financial statements of the Company. On January 22, 2024, the Company completed its initial public offering (“IPO”), issuing 5,450,000 shares of common stock, par value $0.001, at a public offering price of $16.45 per share. The Company’s common stock began trading on the New York Stock Exchange under the symbol “PSBD” on January 18, 2024. See Note 13 “Subsequent Events.”

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Significant Accounting Policies [Abstract]
Significant Accounting Policies	Note 2. Significant Accounting Policies The Company is an investment company and applies specific accounting and financial reporting requirements under Financial Accounting Standards Board (“FASB”) Accounting Standards Topic 946, Financial Services-Investment Companies Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements. Actual results could differ from those estimates. Indemnifications In the normal course of business, the Company enters into contracts that contain a variety of representations which provide general indemnifications. The Company’s maximum exposure under these arrangements cannot be known; however, the Company expects any risk of loss to be remote. Cash and Cash Equivalents Cash is comprised of cash on deposit with major financial institutions. Cash equivalents consist of highly liquid investments with original maturities of three months or less. The Company places its cash with high credit quality institutions to minimize credit risk exposure. Debt Issuance Costs The Company records origination and other expenses related to its debt obligations as deferred financing costs. These expenses are deferred and amortized over the life of the related debt instrument. Debt issuance costs are presented on the consolidated statement of assets and liabilities as a direct deduction from the debt liability. In circumstances in which there is not an associated debt liability amount recorded in the consolidated financial statements when the debt issuance costs are incurred, such debt issuance costs will be reported on the consolidated statement of assets and liabilities as an asset until the debt liability is recorded. As of December 31, 2023, the balance of debt issuance costs was $(1.6) million, representing deferred financing costs of $3.2 million less accrued interest of $4.8 million, included in BoA Credit Facility and WF Credit Facility (each as defined below), net of $641.8 million on the consolidated statement of assets and liabilities. As of December 31, 2022, the balance of debt issuance costs was $(0.1) million, representing deferred financing costs of $2.4 million less accrued interest of $2.5 million, included in BoA Credit Facility and WF Credit Facility (each as defined below), net of $641.3 million on the consolidated statement 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-level U.S. federal income taxes on any ordinary income or capital gains that it distributes at least annually to its stockholders as dividends. To qualify as a RIC, the Company must, among other things, meet certain source-of-income and asset diversification requirements. In addition, to qualify for RIC tax treatment, the Company must distribute to its stockholders, for each taxable year, at least 90% of its “investment company taxable income” for that year, which is generally its ordinary income plus the excess of its realized net short-term capital gains over its realized net long-term capital losses. In order for the Company not to be subject to U.S. federal excise taxes, it must distribute annually an amount at least equal to the sum of (i) 98% of its net ordinary income (taking into account certain deferrals and elections) for the calendar year, (ii) 98.2% of its capital gains in excess of capital losses for the one year period ending October 31 in such calendar year and (iii) any net ordinary income and capital gains in excess of capital losses for preceding years that were not distributed during such years. The Company, at its discretion, may carry forward taxable income in excess of calendar year dividends and pay a 4% nondeductible U.S. federal excise tax on this income. The Company evaluates tax positions taken or expected to be taken in the course of preparing its consolidated financial statements to determine whether the tax positions are “more-likely-than-not” to be sustained by the applicable tax authority. Tax positions not deemed to meet the “more-likely-than-not” threshold are reserved and recorded as a tax benefit or expense in the current year. All penalties and interest associated with income taxes are included in income tax expense. Conclusions regarding tax positions are subject to review and may be adjusted at a later date based on factors including, but not limited to, on-going analyses of tax laws, regulations and interpretations thereof. Basis of Consolidation As provided under ASC 946, the Company will generally not consolidate its investment in a company other than a substantially wholly owned investment company subsidiary or a controlled operating company whose business consists of providing services to the Company. Accordingly, the Company consolidated the results of the Company’s wholly owned investment company subsidiaries (PS BDC Funding and PS BDC Funding II) in its consolidated financial statements. Interest and Dividend Income Recognition Interest income is recorded on the accrual basis and includes amortization of premiums or accretion of discounts. Discounts and premiums to par value on securities purchased are accreted and amortized, respectively, into interest income over the contractual life of the respective security using the effective interest method. The amortized cost of investments represents the original cost adjusted for the amortization of premiums or accretion of discounts, if any. Upon prepayment of a loan or debt security, any prepayment premiums, unamortized upfront loan origination fees, paydown gains/losses and unamortized discounts are recorded as interest income in the current period. Dividend income on preferred equity securities is recorded on the accrual basis to the extent that such amounts are payable by the portfolio company and are expected to be collected. Dividend income on common equity securities and money market funds is recorded on the record date for private portfolio companies or on the ex-dividend date for publicly-traded portfolio companies. Non-Accrual Status Loans are generally placed on non-accrual status when there is reasonable doubt that principal or interest will be collected in full. Accrued interest is generally reversed when a loan is placed on non-accrual status. Interest payments received on non-accrual loans may be recognized as income or applied to principal depending upon management’s judgment regarding collectability. Non-accrual loans are restored to accrual status when past due principal and interest is paid current and, in management’s judgment, are likely to remain current. Management may make exceptions to this treatment and determine not to place a loan on non-accrual status if the loan has sufficient collateral value and is in the process of collection. Management reviews all loans that have principal or interest that is 90 days past due, or when there is reasonable doubt as to the collection of principal or interest to determine if a loan will be placed on non-accrual status. When a loan is placed on non-accrual status, the accrued interest and unpaid interest is generally reversed, and any discount (market or original) is no longer accreted to interest income. Interest payments received while a loan is on non-accrual status may be applied to principal or recognized as income, as determined by management’s judgement regarding collectability. A loan may be taken off non-accrual status if past due payments are made, and if management determines the issuer is likely to remain current on future payments. Management may make exceptions to this policy if the loan has sufficient collateral value or is in the process of collection. Management may also leave a loan on accrual status while actively seeking recovery of past due payment. As of December 31, 2023 and 2022 the Company had no portfolio investments on non-accrual status. Other Income From time to time, the Company may receive fees for services provided to portfolio companies. These fees are generally only available to the Company as a result of closing investments, are normally paid at the closing of the investments, are generally non-recurring and are recognized as revenue when earned upon closing of the investment. The services that the Investment Advisor provides vary by investment, but can include closing, work, diligence or other similar fees and fees for providing managerial assistance to the Company’s portfolio companies. In addition, the Company may generate revenue in the form of consent, waiver, amendment, unused, and prepayment fees associated with the Company’s investment activities and commitment, organization, structuring or diligence fees, monitoring fees and possibly consulting and performance- based fees. Offering Costs Offering costs in connection with the offering of common stock of the Company are capitalized as a deferred charge and amortized to expense on a straight-line basis over 12 months from the commencement of operations, January 23, 2020. These expenses consist primarily of legal fees and other costs incurred with the Company’s share offerings, the preparation of the Company’s registration statement, and registration fees. Net Realized Gains or Losses and Net Change in Unrealized Appreciation or Depreciation The Company measures realized gains or losses by the difference between the net proceeds from the repayment or sale and the amortized cost basis of the investment, without regard to unrealized appreciation or depreciation previously recognized, but considering unamortized upfront fees and prepayment penalties. Net change in unrealized appreciation or depreciation reflects the change in portfolio investment values during the reporting period, including any reversal of previously recorded unrealized appreciation or depreciation, when gains or losses are realized. New Accounting Pronouncements In March 2020, the FASB issued Accounting Standards Update 2020-04, Reference Rate Reform (Topic 848) – Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”). The guidance provides optional expedients and exceptions for applying generally accepted accounting principles to contracts, hedging relationships, and other transactions, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued. ASU 2020-04 was effective for all entities as of March 12, 2020 through December 31, 2022. In December 2022 the FASB issued Accounting Standards Update 2022-06, Reference Rate Reform (Topic 848) – Deferral of the Sunset Date of Topic 848 which extended the effective period through December 31, 2024. On July 26, 2023, the SEC adopted amendments intended to enhance and standardize disclosures related to cybersecurity. The amendments require timely disclosure of material cybersecurity incidents and annual disclosures related to cybersecurity risk management, strategy, and governance. The disclosures are effective beginning with annual reports for fiscal years ending on or after December 15, 2023. The Company has evaluated the impact of adoption on its consolidated financial statements and is effective for the current filing.

Agreements and Related Party Tr

Agreements and Related Party Transactions	12 Months Ended
	Dec. 31, 2023
Agreements and Related Party Transactions [Abstract]
Agreements and Related Party Transactions	Note 3. Agreements and Related Party Transactions Administration Agreement The Company has entered into the Administration Agreement with the Administrator. Pursuant to the Administration Agreement, the Administrator furnishes office facilities and equipment and provides clerical, bookkeeping, compliance, recordkeeping and other administrative services at such facilities. Under the Administration Agreement, the Administrator performs, or oversees the performance of, required administrative services, which include being responsible for the financial and other records that the Company is required to maintain and preparing reports to stockholders and reports and other materials filed with the SEC. In addition, the Administrator assists the Company in determining and publishing the Company’s net asset value, overseeing the preparation and filing of tax returns and the printing and dissemination of reports and other materials to stockholders, and generally overseeing the payment of expenses and the performance of administrative and professional services rendered to the Company by others. Under the Administration Agreement, the Administrator also provides managerial assistance on the Company’s behalf to those portfolio companies that have accepted the offer to provide such assistance. Under the Administration Agreement, the Company reimburses the Administrator based upon its allocable portion of the Administrator’s overhead (including rent) in performing its obligations under the Administration Agreement, including rent, the fees and expenses associated with performing compliance functions and the Company’s allocable portion of the cost of its officers (including the Company’s Chief Financial Officer and Chief Compliance Officer), and any of their respective staff who provide services to the Company, operations staff who provide services to the Company, and internal audit staff, if any, to the extent internal audit performs a role in the Company’s Sarbanes-Oxley internal control assessment. In addition, if requested to provide managerial assistance to portfolio companies, the Administrator is reimbursed based on the services provided. The Administration Agreement has an initial term of two years and may be renewed with the approval of the Company’s board of directors (the “Board”). The agreement was renewed during the year for an additional one year period. The Administration Agreement may be terminated by either party without penalty upon 60 days’ written notice to the other party. To the extent that the Administrator outsources any of its functions, the Company pays the fees associated with such functions on a direct basis without any incremental profit to the Administrator. In addition, the Administrator has, pursuant to a sub-administration agreement, engaged U.S. Bancorp Fund Services, LLC to act on behalf of the Company’s Administrator in the performance of certain other administrative services. The Company has also engaged Equiniti Trust Company, LLC or its affiliates (“Equiniti”) directly to serve as transfer agent, registrar and dividend disbursing agent and engaged U.S. Bank or its affiliates directly to serve as custodian. Prior to the Company’s engagement of Equiniti upon the closing of the IPO, U.S. Bank served as the Company’s transfer agent, distribution paying agent and registrar. Investment Advisory Agreement The Investment Advisor serves as the investment adviser of the Company and is registered as an investment adviser with the SEC. The Investment Advisor’s primary business is to provide a variety of investment management services, including an investment program for the Company. The Investment Advisor is responsible for all business activities and oversight of the investment decisions made for the Company. Subsequent to the IPO, in return for providing management services to the Company, the Company pays the Investment Advisor a base management fee, calculated and paid quarterly in arrears at an annual rate of 1.75% of the average value of the weighted average (based on the number of shares outstanding each day in the quarter) of the Company’s total net assets at the end of the two most recently completed calendar quarters. The base management fee for any partial quarter will be pro-rated based on the number of days actually elapsed in that quarter relative to the total number of days in such quarter. Prior to the IPO, the base management fee was 2.00% of the average value of the weighted average (based on the number of shares outstanding each day in the quarter) of the Company’s total net assets at the end of the two most recently completed calendar quarters. The Investment Advisor, however, during any period prior to the IPO, agreed to waive its right to receive management fees in excess of an annual rate of 1.75% of the average value of the weighted average total net assets at the end of each of our two most recently completed calendar quarters. The Investment Advisor will not be permitted to recoup any base management fees waived for any period of time prior to the IPO. Additionally, pursuant to the Advisory Agreement, the Investment Advisor is not entitled to an incentive fee prior to the IPO because the Advisory Agreement provides that no incentive fee is payable prior to the listing of the Company’s common stock on a national securities exchange. Effective upon completion of the IPO, the Investment Advisor is entitled to an incentive fee (the “Income Incentive Fee”) based on the Company’s pre-incentive fee net investment income for the then most recently completed calendar quarter, as adjusted downward (but not upward) if over the most recently completed and eleven preceding calendar quarters since the IPO (or if shorter, the number of calendar quarters since the IPO) (each such period is referred to herein as the “Trailing Twelve Quarters”) aggregate net realized losses on the Company’s investments exceed the Company’s aggregate net investment income over the same period, excluding the most recently completed quarter, as described in more detail below. In this regard, if the Company’s net realized losses over the Trailing Twelve Quarters since the IPO (or if shorter, the number of calendar quarters since the IPO) are greater than the Company’s net investment income over the same period, excluding the most recently completed quarter, then the pre-incentive fee net income used in the calculation of the Income Incentive Fee would be subject to a downward adjustment. The amount of the adjustment would be equal to the amount by which such net realized losses exceed such net investment income. On the other hand, if the Company’s net investment income over the Trailing Twelve Quarters since the IPO (or if shorter, the number of calendar quarters since the IPO) is equal to or greater than the Company’s net realized losses over the same period, excluding the most recently completed quarter, then no adjustment to pre-incentive fee net investment income would be made. The Income Incentive Fee will be calculated and payable quarterly in arrears commencing with the first calendar quarter following the IPO. The Company will pay the Investment Advisor an Income Incentive Fee with respect to its “adjusted net investment income” in each calendar quarter as follows: ● no Income Incentive Fee in any calendar quarter in which the Company’s “adjusted net investment income” does not exceed an amount equal to a “hurdle rate” of 1.5% per quarter (6% annualized) of the Company’s total net assets at the end of that quarter (the “Hurdle Amount”); ● 100% of the Company’s “adjusted net investment income” with respect to that portion of such “adjusted net investment income,” if any, that exceeds the Hurdle Amount but is less than or equal to an amount (the “Catch-Up Amount”) determined on a quarterly basis by multiplying 1.6875% by the Company’s total net asset value for the immediately preceding calendar quarter. The Catch-Up Amount is intended to provide the Investment Advisor with an incentive fee of 12.5% on all of the Company’s “adjusted net investment income” when the Company’s “adjusted net investment income” reaches the Catch-Up Amount in any calendar quarter; and ● for any calendar quarter in which the Company’s “adjusted net investment income” exceeds the Catch-Up Amount, the Income Incentive Fee shall equal 12.5% of the amount of the Company’s “adjusted net investment income” for the calendar quarter. “Adjusted net investment income” means the Company’s “pre-incentive fee net investment income” during the then most recently completed calendar quarter minus the difference, if positive, between (i) the Company’s “net realized losses” over the then Trailing Twelve Quarters (or if shorter, the number of calendar quarters that have occurred since the IPO) and (ii) the Company’s “net investment income” over the Trailing Twelve Quarters (excluding the then most recently completed calendar quarter). No adjustment (downward or upward) will be made to “pre-incentive fee net investment income” if the difference between clause (i) minus clause (ii) is zero or negative. “Pre-incentive fee net investment income” means interest income, dividend income and any other income (including any other fees such as commitment, origination, structuring, diligence and consulting fees or other fees that the Company receives from portfolio companies but excluding fees for providing managerial assistance) accrued during the calendar quarter, minus operating expenses for the quarter (including the base management fee, any expenses payable under the Administration Agreement, and any interest expense and dividends paid on any outstanding preferred stock, but excluding the Income Incentive Fee). “Pre-incentive fee net investment income” includes, in the case of investments with a deferred interest feature such as market discount, original issue discount (“OID”), debt instruments with payment-in-kind (“PIK”) interest, preferred stock with PIK dividends and zero-coupon securities, accrued income that the Company has not yet received in cash. “Net realized losses” in respect of a particular period means the difference, if positive, between (i) the aggregate realized capital losses on the Company’s investments in such period and (ii) the aggregate realized capital gains on the Company’s investments in such period. As noted above, “net realized losses” will not by itself cause an upward adjustment to adjusted net investment income. “Net investment income” in respect of the particular period means interest income, dividend income and any other income (including any other fees such as commitment, origination, structuring, diligence and consulting fees or other fees that the Company receives from portfolio companies but excluding fees for providing managerial assistance) accrued during the particular period, minus operating expenses for the particular period (including the base management fee, the Income Incentive Fee, any expenses payable under the Administration Agreement, and any interest expense and dividends paid on any outstanding preferred stock). “Net investment income” includes, in the case of investments with a deferred interest feature such as market discount, OID, debt instruments with PIK interest, preferred stock with PIK dividends and zero-coupon securities, accrued income that the Company has not yet received in cash. The Income Incentive Fee amount, or the calculations pertaining thereto, as appropriate, will be pro-rated for any period less than a full calendar quarter. Effective upon completion of the IPO, the Investment Advisor has also agreed to use the most recently completed and three preceding calendar quarters (each such period is referred to herein as the “Trailing Four Quarters”) in addition to the Trailing Twelve Quarters to compute the incentive fee payable to it by the Company. In conjunction therewith, the Investment Advisor has agreed to calculate the incentive fee based on the Trailing Twelve Quarters and the Trailing Four Quarters and in the event that any Trailing Four Quarter period calculation produces a lower incentive fee as compared to the applicable Trailing Twelve Quarter period calculation for any quarterly period, then the Trailing Four Quarter Period will be used in connection with the calculation of the incentive fee payable to the Investment Advisor by the Company for such quarter. The Investment Advisor has agreed to pay all offering costs in connection with the IPO. These expenses consist primarily of legal fees and other costs incurred with the Company’s share offerings, the preparation of the Company’s registration statement, and registration fees. The Company is not obligated to repay any such offering costs paid by our Investment Advisor. As the December 31, 2023, the balance of Due from Advisor was $1.4 million, representing the offering costs incurred on the statement of assets and liabilities.

Investments

Investments	12 Months Ended
	Dec. 31, 2023
Investments [Abstract]
Investments	Note 4. Investments The following table presents the composition of the Company’s investment portfolio at amortized cost and fair value as of December 31, 2023 and December 31, 2022: December 31, 2023 December 31, 2022 Amortized Fair Amortized Fair Cost Value Cost Value First-lien senior secured debt $ 984,089,538 $ 952,100,626 $ 951,753,250 $ 870,880,344 Second-lien senior secured debt 67,449,770 55,989,218 71,513,263 58,118,340 Corporate Bonds 4,495,104 4,239,975 1,884,529 1,332,888 CLO Mezzanine 14,859,567 13,764,620 17,589,330 14,732,721 CLO Equity 24,478,438 18,953,309 27,012,348 21,800,224 Short-term investments 63,763,005 63,763,005 50,347,215 50,347,215 Total Investments $ 1,159,135,422 $ 1,108,810,753 $ 1,120,099,935 $ 1,017,211,732 As of December 31, 2023, approximately 14.2% of the long-term investment portfolio at amortized cost and 14.1% of the long-term investment portfolio measured at fair value, respectively, were invested in non-qualifying assets. As of December 31, 2022 approximately 16.0% of the long-term investment portfolio at amortized cost and 16.3% of the long-term investment portfolio measured at fair value, respectively, were invested in non-qualifying assets. With respect to the Company’s total assets, 13.2% and 14.9% of the Company’s total assets were in non-qualifying assets as defined by Section 55(a) of the 1940 Act as of December 31, 2023 and December 31, 2022, respectively. The industry composition of investments based on fair value, as a percentage of total investments at fair value, as of December 31, 2023 and December 31, 2022 was as follows: December 31, December 31, Software 14.0 % 12.9 % Healthcare Providers and Services 9.3 % 9.9 % Professional Services 7.2 % 5.9 % IT Services 6.7 % 8.4 % Insurance 5.9 % 5.8 % Short Term Investments 5.8 % 4.9 % Diversified Financial Services 4.2 % 2.6 % Hotels, Restaurants and Leisure 4.2 % 3.9 % Media 3.7 % 3.2 % Independent Power and Renewable Electricity Producers 3.4 % 2.8 % Chemicals 2.9 % 3.3 % Building Products 2.9 % 3.7 % Construction and Engineering 2.6 % 2.5 % Food Products 2.0 % 1.3 % Auto Components 1.7 % 1.9 % Structured Subordinated Note 1.7 % 2.1 % Containers and Packaging 1.7 % 1.5 % Machinery 1.6 % 0.6 % Diversified Consumer Services 1.6 % 1.6 % Electronic Equipment, Instruments and Components 1.5 % 1.2 % Internet Software and Services 1.4 % 1.1 % Energy Equipment and Services 1.4 % 0.6 % Commercial Services and Supplies 1.3 % 1.3 % Structured Note 1.2 % 1.4 % Aerospace and Defense 1.2 % 2.5 % Metals and Mining 1.2 % 2.0 % Healthcare Technology 1.0 % 2.1 % Oil, Gas and Consumable Fuels 0.9 % 1.7 % Diversified Telecommunication Services 0.8 % 0.3 % Healthcare Equipment and Supplies 0.8 % 0.9 % Specialty Retail 0.6 % 1.3 % Real Estate Management and Development 0.6 % 0.6 % Wireless Telecommunication Services 0.6 % 0.6 % Pharmaceuticals 0.6 % 0.6 % Electrical Equipment 0.5 % 0.5 % Road and Rail 0.5 % 0.5 % Household Durables 0.4 % 0.3 % Industrial Conglomerates 0.4 % 0.4 % Technology Hardware, Storage and Peripherals - % 0.4 % Textiles, Apparel and Luxury Goods - % 0.1 % Airlines - % 0.8 % Total 100.0 % 100.0 %

Fair Value of Investments

Fair Value of Investments	12 Months Ended
	Dec. 31, 2023
Fair Value of Investments [Abstract]
Fair Value of Investments	Note 5. Fair Value of Investments Fair value is defined as the price that the Company would receive upon selling an investment or paying to transfer a liability in an orderly transaction to a market participant in the principal or most advantageous market for the investment. Accounting guidance emphasizes that valuation techniques maximize the use of observable market inputs and minimize the use of unobservable inputs. Inputs refer broadly to the assumptions that market participants would use in pricing an asset or liability, including assumptions about risk. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing an asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the assumptions market participants would use in pricing an asset or liability developed based on the best information available in the circumstances. The valuation hierarchical levels are based upon the transparency of the inputs to the valuation of the investment as of the measurement date. The three levels are defined as follows: Level 1 — Valuations based on quoted prices in active markets for identical assets or liabilities at the measurement date. Level 2 — Valuations based on inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable at the measurement date. This category includes quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in non-active markets including actionable bids from third parties for privately held assets or liabilities, and observable inputs other than quoted prices such as yield curves and forward currency rates that are entered directly into valuation models to determine the value of derivatives or other assets or liabilities. Level 3 — Valuations based on inputs that are unobservable and where there is little, if any, market activity at the measurement date. Investments in private investment companies measured based upon net asset value as a practical expedient to determine fair value are not required to be categorized in the fair value hierarchy. As of December 31, 2023 and as of December 31, 2022, there were no investments accounted for using the practical expedient. The inputs for the determination of fair value may require significant management judgment or estimation and are based upon management’s assessment of the assumptions that market participants would use in pricing the assets or liabilities. These investments include debt and equity investments in private companies or assets valued using the market or income approach and may involve pricing models whose inputs require significant judgment or estimation because of the absence of any meaningful current market data for identical or similar investments. The inputs in these valuations may include, but are not limited to, capitalization and discount rates, beta and earnings before interest, taxes, depreciation, and amortization (“EBITDA”) multiples. The information may also include pricing information or broker quotes, which include a disclaimer that the broker would not be held to such a price in an actual transaction. The non-binding nature of consensus pricing and/or quotes accompanied by disclaimer would result in classification as Level 3 information, assuming no additional corroborating evidence. Pricing inputs and weightings applied to determine fair value require subjective determination. Accordingly, valuations do not necessarily represent the amounts that may eventually be realized from sales or other dispositions of investments. A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The following table presents the fair value hierarchy of investments as of December 31, 2023: Fair Value Hierarchy as of December 31, 2023 Investments: Level 1 Level 2 Level 3 Total First-lien senior secured debt $ - $ 952,100,626 - $ 952,100,626 Second-lien senior secured debt - 55,989,218 - 55,989,218 Corporate Bonds - 4,239,975 - 4,239,975 Convertible Bond - - - - CLO Mezzanine - 13,764,620 - 13,764,620 CLO Equity - 18,953,309 - 18,953,309 Equity - - - - Short Term Investments 63,763,005 - - 63,763,005 Total Investments $ 63,763,005 $ 1,045,047,748 $ - $ 1,108,810,753 The following table presents the fair value hierarchy of investments as of December 31, 2022: Fair Value Hierarchy as of December 31, 2022 Investments: Level 1 Level 2 Level 3 Total First-lien senior secured debt $ - $ 870,880,344 $ - $ 870,880,344 Second-lien senior secured debt - 58,118,340 - 58,118,340 Corporate Bonds - 1,332,888 - 1,332,888 CLO Mezzanine - 14,732,721 - 14,732,721 CLO Equity - 21,800,224 - 21,800,224 Short Term Investments 50,347,215 - - 50,347,215 Total Investments $ 50,347,215 $ 966,864,517 $ - $ 1,017,211,732 Debt Not Carried at Fair Value The fair value of the BoA Credit Facility and the WF Credit Facility, which would be categorized as Level 3 within the fair value hierarchy as of December 31, 2023, approximates their respective carrying values because the BoA Credit Facility and WF Credit Facility each have variable interest based on selected short term rates.

Borrowings

Borrowings	12 Months Ended
	Dec. 31, 2023
Borrowings [Abstract]
Borrowings	Note 6. Borrowings In accordance with the 1940 Act, with certain limitations, BDCs are permitted to borrow amounts such that their asset coverage ratios, as defined in the 1940 Act, are at least 150% after such borrowing. As of December 31, 2023, the Company’s asset coverage ratio was 172%. Bank of America Credit Facility On February 18, 2020, the Company, through a special purpose wholly-owned subsidiary, PS BDC Funding (together with the Company, the “Borrowers”) entered into a Credit Agreement (the “Credit Agreement”) with certain financial institutions as lenders (“Lenders”), BofA N.A. as the Administrative Agent and BofA Securities, Inc. (“BofA Securities”), as Lead Arranger and Sole Book Manager, pursuant to which the Lenders agreed to provide the Company with a revolving line of credit (the “BoA Credit Facility”). Under the BoA Credit Facility, which matures on February 18, 2025, the Lenders have agreed to extend credit to PS BDC Funding in an aggregate amount up to the Commitment (as defined in the Credit Agreement) amount. The Commitment amount for the BoA Credit Facility is currently $725 million. The Borrowers’ ability to draw under the BoA Credit Facility is scheduled to terminate on February 11, 2025. All amounts outstanding under the BoA Credit Facility are required to be repaid by February 18, 2025. As the Company raises additional capital, we may enter into additional credit agreements to expand our borrowing capacity. Debt obligations under the BoA Credit Facility consisted of the following as of December 31, 2023: December 31, 2023 Aggregate Outstanding Amount (1) Net (2) BoA Credit Facility $ 725,000,000 $ 504,000,000 $ 221,000,000 $ 505,417,357 Total debt $ 725,000,000 $ 504,000,000 $ 221,000,000 $ 505,417,357 (1) The amount available reflects any limitations related to the BoA Credit Facility’s borrowing base. (2) The carrying value of the BoA Credit Facility is presented net of deferred financing costs of $739 thousand and accrued interest of $2.156 million. Debt obligations under the BoA Credit Facility consisted of the following as of December 31, 2022: December 31, 2022 Aggregate Outstanding Amount (1) Net (2) BoA Credit Facility $ 725,000,000 $ 514,500,000 $ 210,500,000 $ 513,726,164 Total debt $ 725,000,000 $ 514,500,000 $ 210,500,000 $ 513,726,164 (1) The amount available reflects any limitations related to the BoA Credit Facility’s borrowing base. (2) The carrying value of the BoA Credit Facility is presented net of deferred financing costs of $1.358 million and accrued interest of $584 thousand. Average debt outstanding under the BoA Credit Facility during the years ended December 31, 2023, 2022, and 2021 was $498.3 million, $544.0 million and $433.1 million, respectively. Prior to February 3, 2023, the loans under the BOA Credit Facility may have been base rate loans or euro currency loans. The base rate loans bore interest at the base rate plus 1.30%, and the eurocurrency rate loans bore interest at 1-month or 3-month LIBOR plus 1.30%. The “base rate” was equal to the highest of (a) the federal funds rate plus 0.50%, (b) the prime rate, and (c) 1-month or 3-month LIBOR. On February 3, 2023, the Company entered into an omnibus amendment to the BoA Credit Facility that, among other things: (i) removed LIBOR transition language and (ii) replaced eurocurrency rate loans with SOFR loans. As of February 3, 2023, the loans under the BoA Credit Facility may be base rate loans or Secured Overnight Financing Rate (“SOFR”) loans. The base rate loans will bear interest at the base rate plus 1.40%, and the SOFR loans will bear interest at 1-month SOFR plus 1.40% or 3-month SOFR plus 1.45%. The “base rate” will be equal to the highest of (a) the federal funds rate plus 0.50%, (b) the prime rate, and (c) 1-month or 3-month SOFR plus 0.10%. The Credit Agreement includes fallback language in the event that SOFR becomes unavailable. Interest pursuant to base rate loans is payable quarterly in arrears, and interest pursuant to SOFR loans is payable either quarterly or monthly, as specified by the Borrowers in a loan notice pertaining thereto. The Credit Agreement requires the payment of a commitment fee of 0.50% for unused Commitments until the four-month anniversary of the Second Amendment to the Credit Agreement. Thereafter, the commitment fee is 0.50% on unused Commitments up to 30% of the BoA Credit Facility, and 1.30% on unused Commitments in excess of 30% of the BoA Credit Facility. Such fee is payable quarterly in arrears. The advance rate for PS BDC Funding’s Eligible Collateral Assets ranges from 40% for Second Lien Bank Loans to 70% for First Lien Bank Loans that are B Assets to 100% for Cash (excluding Excluded Amounts) (as each such term is defined in the Credit Agreement). For the years ended December 31, 2023, 2022, and 2021, the components of interest expense with respect to the BoA Credit Facility were as follows: For the Year Ended December 31 2023 2022 2021 Interest expense $ 33,703,442 $ 17,356,543 $ 6,711,315 Amortization of debt issuance costs 646,738 635,331 550,610 Total interest expense $ 34,350,180 $ 17,991,874 $ 7,261,925 Average interest rate 6.42 % 2.97 % 1.40 % PS BDC Funding has pledged all of its assets to BofA N.A., in its capacity as Administrative Agent, to secure its obligations under the BoA Credit Facility. Both the Company and PS BDC Funding have made customary representations and warranties and are required to comply with various covenants, reporting requirements and other customary requirements for similar credit facilities. Borrowing under the BoA Credit Facility is subject to the leverage restrictions contained in the 1940 Act and PS BDC Funding complies with 1940 Act provisions relating to affiliated transactions and custody (Section 17, as modified by Section 57, of the 1940 Act). The custodian of the assets pledged to BofA N.A. pursuant to the BoA Credit Facility is U.S. Bank National Administration (“US Bank”). The obligations under the Credit Agreement may be accelerated upon the occurrence of an event of default under the Credit Agreement, including in the event of a change of control of PS BDC Funding or if the Investment Advisor ceases to serve as investment adviser to the Company. Wells Fargo Credit Facility On December 18, 2020, the Company, through a special purpose wholly-owned subsidiary, Palmer Square BDC Funding II LLC (“PS BDC Funding II” and together with the Company, the “WF Borrowers”) entered into a Loan and Security Agreement (the “Loan Agreement”) with certain financial institutions as lenders (“WF Lenders”), WFB as the administrative agent and U.S. Bank, as Collateral Agent and Custodian, pursuant to which the WF Lenders agreed to provide the Company with a line of credit (the “WF Credit Facility”). On December 18, 2023, the Company entered into an amendment to the WF Credit Facility (the “WF Credit Facility Fourth Amendment”) that amends the WF Credit Facility to, among other things: (i) increase the amount available for borrowing under the WF Credit Facility from $150,000,000 to $175,000,000, (ii) extend the facility maturity date from December 18, 2025 to December 18, 2028 and (iii) extend the reinvestment period from December 18, 2023 to December 18, 2026 (subject to other provisions of the WF Credit Facility). Debt obligations under the WF Credit Facility consisted of the following as of December 31, 2023: December 31, 2023 Aggregate Outstanding Amount (1) Net (2) WF Credit Facility $ 175,000,000 $ 136,250,000 $ 38,750,000 $ 136,411,448 Total debt $ 175,000,000 $ 136,250,000 $ 38,750,000 $ 136,411,448 (1) The amount available reflects any limitations related to the WF Credit Facility’s borrowing base. (2) The carrying value of the WF Credit Facility is presented net of deferred financing costs of $2.472 million and accrued interest of $2.634 million. Debt obligations under the WF Credit Facility consisted of the following as of December 31, 2022: December 31, 2022 Aggregate Outstanding Amount (1) Net (2) WF Credit Facility $ 150,000,000 $ 126,750,000 $ 23,250,000 $ 127,583,253 Total debt $ 150,000,000 $ 126,750,000 $ 23,250,000 $ 127,583,253 (1) The amount available reflects any limitations related to the WF Credit Facility’s borrowing base. (2) The carrying value of the WF Credit Facility is presented net of deferred financing costs of $1.047 million and accrued interest of $1.880 million. Average debt outstanding under the WF Credit Facility during the years ended December 31, 2023, 2022, and 2021, was $131.4 million and $123.4 million and $13.9 million, respectively. Prior to April 10, 2023 the loans under the WF Credit Facility may have been Broadly Syndicated Loans or Middle Market loans and were eurocurrency rate loans unless such rate was unavailable, in which case the loans were base rate loans until such rate was available. Broadly Syndicated Loans bore interest at the LIBOR or base rate, as applicable, plus 1.85%, and Middle Market Loans bore interest at LIBOR or base rate, as applicable, plus 2.35%. The “base rate” was equal to the highest of (a) the federal funds rate plus 0.50% and (b) the prime rate. On April 10, 2023, the Company entered into an amendment to the WF Credit Facility that, among other things: (i) transferred and assigned U.S. Bank National Association’s rights and obligations as collateral agent and as a secured party to U.S. Bank Trust Company, National Association, (ii) referenced SOFR instead of LIBOR and (iii) removed LIBOR transition language. As of April 10, 2023, For the years ended December 31, 2023, 2022, and 2021, the components of interest expense with respect to the WF Credit Facility were as follows: For the Year Ended December 31, 2023 2022 2021 Interest expense $ 9,773,911 $ 5,107,383 $ 996,077 Amortization of debt issuance costs 359,061 352,912 358,659 Total interest expense $ 10,132,972 $ 5,460,295 $ 1,354,736 Average interest rate 7.20 % 4.03 % 2.18 % PS BDC Funding II has pledged all of its assets to U.S. Bank, in its capacity as Collateral Agent, to secure its obligations under the WF Credit Facility and U.S. Bank acts as the custodian of such assets. Both the Company and PS BDC Funding II have made customary representations and warranties and are required to comply with various covenants, reporting requirements, and other customary requirements for similar credit facilities. Borrowing under the WF Credit Facility is subject to the leverage restrictions contained in the 1940 Act and PS BDC Funding II complies with 1940 Act provisions relating to affiliated transactions and custody (Section 17, as modified by Section 57, of the 1940 Act). The obligations under the Loan Agreement may be accelerated upon the occurrence of an event of default under the Loan Agreement, including in the event of a change of control of PS BDC Funding II, if the Investment Advisor ceases to serve as investment adviser to the Company, or if PSCM or its affiliates cease to directly or indirectly own a majority of the membership interests of the Investment Advisor. Senior Securities Information about the Company’s senior securities is shown in the following table for the fiscal years ended December 31, 2023, 2022, 2021, and 2020 (in thousands). Class and Period Ended Total Amount Outstanding Exclusive of Treasury Securities (1) Asset Coverage per Unit (2) Involuntary Liquidating Preference per Unit (3) Average Market Value per Unit (4) BoA Credit Facility December 31, 2023 504.0 1,721.5 — — December 31, 2022 514.5 1,566.8 — — December 31, 2021 552.0 1,694.5 — — December 31, 2020 395.0 1,640.9 WF Credit Facility December 31, 2023 136.3 1,721.5 — — December 31, 2022 126.8 1,566.8 — — December 31, 2021 100.0 1,694.5 — — December 31, 2020 0.0 1,640.9 (1) Total amount of each class of senior securities outstanding at the end of the period presented. (2) Asset coverage per unit is the ratio of the carrying value of our total consolidated assets, less all liabilities and indebtedness not represented by senior securities, to the aggregate amount of senior securities representing indebtedness. Asset coverage per unit is expressed in terms of dollar amounts per $1,000 of indebtedness. (3) The amount to which such class of senior security would be entitled upon the voluntary liquidation of the issuer in preference to any security junior to it. The “—” in this column indicates that the SEC expressly does not require this information to be disclosed for certain types of senior securities. (4) Not applicable because such senior securities are not registered for public trading.

Share Transactions

Share Transactions	12 Months Ended
	Dec. 31, 2023
Share Transactions [Abstract]
Share Transactions	Note 7. Share Transactions Offering Proceeds During the years ended December 31, 2023, 2022, and 2021, the Company issued and sold 2,816,166 shares at an aggregate purchase price of $46.7 million, 1,716,297 shares at an aggregate purchase price of $29.2 million, and 10,007,526 shares at an aggregate purchase price of $206.6 million, respectively. These amounts include shares issued in reinvestment. Distribution Reinvestment Plan The Company has adopted a dividend reinvestment plan that will provide for reinvestment of its dividends and other distributions on behalf of the Company’s stockholders, unless a stockholder elects to receive cash. As a result, if the Company’s Board authorizes, and the Company declares, a cash dividend or other distribution, then stockholders who do not “opt out” of the Company’s dividend reinvestment plan will have their cash dividends and distributions automatically reinvested in additional shares of the Company’s common stock, rather than receiving cash dividends and distributions. Prior to the IPO, the Board primarily used newly-issued shares of the Company’s common stock to implement the dividend reinvestment plan. The number of shares of common stock to be issued to a participant prior to the IPO would be equal to the quotient determined by dividing the cash value of the dividend payable to such stockholder by the net asset value per share as of the date such dividend was declared. After the IPO, the Board intends to primarily use newly-issued shares to implement the dividend reinvestment plan, whether or not the shares are trading at a price per share at, below or above net asset value. However, the Board reserves the right to purchase shares in the open market in connection with the implementation of the dividend reinvestment plan. The Board will examine the full facts and circumstances of each such dividend to determine the approach (i.e., to use newly issued shares or effectuate open market purchases to implement the dividend reinvestment plan) that is in the best interests of stockholders taking into account the Board’s fiduciary duties to stockholders, including by weighing the potential dilution in connection with such issuance to be incurred by the Company’s stockholders against the Company’s need and usage of reinvested funds ,and, if the Company’s uses newly issued shares to implement the dividend reinvestment plan at a time when the shares are trading at a price below NAV, the stockholders’ receipt of fewer shares than they would have if the Company had effectuated open market purchases. The number of newly issued shares to be issued to a participant would be determined by dividing the total dollar amount of the dividend payable to such stockholder by the market price per share of the Company’s common stock at the close of regular trading on a national securities exchange on the dividend payment date. Shares purchased in open market transactions by Equiniti, the plan administrator and the Company’s transfer agent, registrar and dividend disbursing agent, will be allocated to a participant based upon the average purchase price, excluding any brokerage charges or other charges, of all shares of the Company’s common stock purchased with respect to the dividend. A registered stockholder may elect to receive an entire distribution in cash by notifying Equiniti in writing so that such notice is received by the plan administrator no later than the record date for distributions to stockholders. The plan administrator will set up an account for shares acquired through the plan for each stockholder who has not elected to receive dividends or other distributions in cash and hold such shares in noncertificated form. There will be no brokerage charges or other charges to stockholders who participate in the plan. The plan administrator’s fees will be paid by the Company. Stockholders who receive dividends and other distributions in the form of stock are generally subject to the same U.S. federal, state and local tax consequences as are stockholders who elect to receive their distributions in cash. However, since a participating stockholder’s cash dividends will be reinvested, such stockholder will not receive cash with which to pay any applicable taxes on reinvested dividends. A stockholder’s basis for determining gain or loss upon the sale of stock received in a dividend or other distribution from the Company will generally be equal to the total dollar amount of the distribution payable to the stockholder. Any stock received in a dividend or other distribution will have a new holding period for tax purposes commencing on the day following the day on which the shares are credited to the U.S. stockholder’s account. Participants may terminate their accounts under the plan by so notifying the plan administrator by submitting a letter of instruction terminating the participant’s account under the plan to Equiniti. The plan may be terminated by the Company upon notice in writing mailed to each participant at least 30 days prior to any record date for the payment of any dividend by the Company. If participants withdraw from the plan or the plan is terminated, the plan administrator will cause the shares held for the participant under the plan to be delivered to the participant. If an investor holds common stock with a brokerage firm that does not participate in the plan, such investor will not be able to participate in the plan and any dividend reinvestment may be affected on different terms than those described above. Open Market Share Repurchase Plan The Board authorized the Company to repurchase shares of its common stock through an open-market share repurchase program for up to $20 million in the aggregate of shares of the Company’s common stock through 12 months from the date of the IPO. Pursuant to such authorization and concurrently with the closing of the IPO, the Company entered into a share repurchase plan (the “Company Rule 10b5-1 Stock Repurchase Plan”) to acquire up to $15 million in the aggregate of shares of its common stock, in accordance with the guidelines specified in Rule 10b-18 and Rule 10b5-1 of the Exchange Act. The Company Rule 10b5-1 Stock Repurchase Plan is intended to allow the Company to repurchase shares of its common stock at times when it otherwise might be prevented from doing so under insider trading laws. The Company Rule 10b5-1 Stock Repurchase Plan will require the Company’s agent to repurchase shares of the Company’s common stock on the Company’s behalf when the market price per share of the Company’s common stock is below the most recently reported NAV per share of common stock (including any updates, corrections or adjustments publicly announced by the Company to any previously announced NAV per share). Under the Company Rule 10b5-1 Stock Repurchase Plan, the agent will increase the volume of purchases made as the price of the Company’s common stock declines, subject to volume restrictions. The repurchase of shares pursuant to the Company Rule 10b5-1 Stock Repurchase Plan is intended to satisfy the conditions of Rule 10b5-1 and Rule 10b-18 under the Exchange Act and will otherwise be subject to applicable law, including Regulation M, which may prohibit purchases under certain circumstances. The Company Rule 10b5-1 Stock Repurchase Plan will commence beginning 60 calendar days following the end of the “restricted period” under Regulation M and terminate upon the earliest to occur of (i) 12 months from the date of the Company Rule 10b5-1 Stock Repurchase Plan, (ii) the end of the trading day on which the aggregate purchase price for all shares purchased under the Company Rule 10b5-1 Stock Repurchase Plan equals $15 million and (iii) the occurrence of certain other events described in the Company Rule 10b5-1 Stock Repurchase Plan. The “restricted period” under Regulation M will end upon the closing of the IPO and, therefore, the common stock repurchases/purchases described above shall not begin prior to 60 days after the closing of the IPO. PSCM Rule 10b5-1 Stock Purchase Plan In addition, PSCM will purchase up to $5 million in the aggregate of shares of the Company’s common stock in the open market within one year of the date of the IPO if the shares of the Company’s common stock trade below a specific level of NAV per share following the completion of the IPO. In order to facilitate PSCM’s purchase commitment, concurrently with the closing of the IPO, PSCM entered into a share purchase plan (the “PSCM Rule 10b5-1 Stock Purchase Plan”) to permit the purchase of up to $2.5 million of shares of the Company’s common stock. The purchases of shares pursuant to the PSCM Rule 10b5-1 Stock Purchase Plan will be implemented in accordance with Rule 10b5-1 and Rule 10b-18 under the Exchange Act. The PSCM Rule 10b5-1 Stock Purchase Plan is intended to allow PSCM to purchase shares of the Company’s common stock at times when it otherwise might be prevented from doing so under insider trading laws. The PSCM Rule 10b5-1 Stock Purchase Plan will require PSCM’s agent to purchase shares of common stock on PSCM’s behalf when the market price per share of the Company’s common stock is trading below the most recently reported NAV per share of common stock (including any updates, corrections or adjustments publicly announced by the Company to any previously announced NAV per share). Under the PSCM Rule 10b-1 Stock Purchase Plan, the agent will increase the volume of purchases made as the price of the Company’s common stock declines, subject to volume restrictions. The purchase of shares pursuant to the PSCM Rule 10b5-1 Stock Purchase Plan is intended to satisfy the conditions of Rule 10b5-1 and Rule 10b-18 under the Exchange Act, and will otherwise be subject to applicable law, including Regulation M, which may prohibit purchases under certain circumstances. The PSCM Rule 10b5-1 Stock Purchase Plan will commence beginning 60 calendar days following the end of the “restricted period” under Regulation M and terminate upon the earliest to occur of (i) 12 months from the date of the PSCM Rule 10b5-1 Stock Purchase Plan, (ii) the end of the trading day on which the aggregate purchase price for all shares purchased under the PSCM Rule 10b5-1 Stock Purchase Plan equals $2.5 million and (iii) the occurrence of certain other events described in the PSCM Rule 10b5-1 Stock Purchase Plan. The “restricted period” under Regulation M will end upon the closing of the IPO and, therefore, the common stock repurchases/purchases described above shall not begin prior to 60 days after the closing of the IPO.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies [Abstract]
Commitments and Contingencies	Note 8. Commitments and Contingencies As of December 31, 2023 and December 31, 2022, the Company had an aggregate of $20.1 million and $2.6 million, respectively, of unfunded commitments to provide debt financing to its portfolio companies. As of each of December 31, 2023 and December 31, 2022, there were no capital calls or draw requests made by the portfolio companies to fund these commitments. Such commitments are generally up to the Company’s discretion to approve or are subject to the satisfaction of certain financial and nonfinancial covenants and involve, to varying degrees, elements of credit risk in excess of the amount recognized in the Company’s consolidated statements of assets and liabilities and are not reflected in the Company’s consolidated statement of assets and liabilities. A summary of the composition of the unfunded commitments as of December 31, 2023 is shown in the table below: Expiration Date (1) As of Accession Risk Management Group, Inc. 2/14/2025 2,457,847 Aptean Inc. 1/30/2031 436,880 Aptean Inc. 1/30/2026 851,480 Aramsco, Inc. 10/10/2025 712,871 B’Laster Holdings, LLC 10/25/2025 466,666 Enverus Holdings, Inc. 12/22/2025 310,811 Enverus Holdings, Inc. 12/24/2029 472,973 ImageFirst Holdings, LLC 4/28/2025 833,333 MRI Software LLC 2/10/2027 6,363,630 MRI Software LLC 2/10/2027 636,370 OMNIA Partners, LLC 1/25/2024 223,269 Patriot Growth Insurance Services, LLC 11/17/2025 4,650,000 PT Intermediate Holdings III, LLC 9/1/2024 579,942 Ryan, LLC 11/14/2024 514,286 Tank Holding Corp. 5/22/2024 597,000 Total unfunded commitments $ 20,107,358 (1) Commitments are generally subject to borrowers meeting certain criteria such as compliance with covenants and certain operational metrics. These amounts may remain outstanding until the commitment period of an applicable loan expires, which may be shorter than its maturity. A summary of the composition of the unfunded commitments as of December 31, 2022 is shown in the table below: Expiration (1) As of ARC Falcon I Inc. 3/30/2023 $ 636,943 Vocus Group 6/18/2023 2,000,000 Total unfunded commitments $ 2,636,943 (1) Commitments are generally subject to borrowers meeting certain criteria such as compliance with covenants and certain operational metrics. These amounts may remain outstanding until the commitment period of an applicable loan expires, which may be shorter than its maturity. From time to time, the Company may become a party to certain legal proceedings incidental to the normal course of its business. As of December 31, 2023, management is not aware of any pending or threatened litigation.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Note 9. Earnings Per Share In accordance with the provisions of ASC Topic 260, Earnings per Share The following table sets forth the computation of basic and diluted earnings per share of common stock for the years ended December 31, 2023, 2022, and 2021: For the Year Ended December 31, 2023 2022 2021 Net increase (decrease) in net assets resulting from operations $ 107,835,651 $ (74,482,335 ) $ 19,059,718 Weighted average shares of common stock outstanding - basic and diluted 25,700,603 23,130,666 15,494,614 Earnings (loss) per share of common stock - basic and diluted $ 4.20 $ (3.22 ) $ 1.23

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Taxes [Abstract]
Income Taxes	Note 10. Income Taxes The Company intends to elect to be treated as a RIC under the Internal Revenue Code (“Code”) for its taxable year end December 31, 2023. As a RIC, the Company is not subject to federal income tax on the portion of its taxable income and gains distributed currently to its stockholders as a dividend. The Company anticipates distributing substantially all of its taxable income and gains, within the Subchapter M rules, and thus the Company anticipates that it will not incur any federal or state income tax at the RIC level. As a RIC, the Company is also subject to a federal excise tax based on distributive requirements of its taxable income on a calendar year basis (e.g., calendar year 2023). Depending on the level of taxable income earned in a tax year, the Company may choose to carry forward taxable income in excess of current year distributions into the next tax year and pay a 4% excise tax on such income, to the extent required. The permanent differences for tax purposes from distributable earnings to additional paid in capital were reclassified for tax purposes for the tax years ended December 31, 2023, 2022, and 2021. These reclassifications have no impact on net assets. Year Ended December 31, 2023 2022 2021 Increase (decrease) in distributable earnings $ - $ - $ - Increase (decrease) in capital in excess of par value $ - $ - $ - The following reconciles net increase in net assets resulting from operations to taxable income for the years ended December 31, 2023, 2022, and 2021: Year Ended December 31, 2023 2022 2021 Net increase (decrease) in net assets resulting from operations $ 107,835,651 $ (74,482,335 ) $ 19,059,718 Net change in unrealized appreciation (depreciation) from investments (52,563,544 ) 107,432,980 8,527,786 Other book tax differences 1,677,010 8,109,784 (897,245 ) Taxable income before deductions for distributions $ 56,949,117 $ 41,060,429 $ 26,690,259 Year Ended December 31, 2023 2022 2021 Distributions paid from: Ordinary income $ 56,068,285 $ 43,482,016 $ 22,163,852 Capital gains - 573,101 3,788,641 Return of Capital - - - Total $ 56,068,285 $ 44,055,117 $ 25,952,493 For the years ended December 31, 2023, 2022, and 2021, the components of accumulated earnings on a tax basis were as follows: Year Ended Year Ended Year Ended Undistributed net investment income (loss) $ 148,613 $ - $ 1,834,053 Undistributed capital gains - - 513,796 Capital loss carryforward (9,042,947 ) - - Other accumulated gain (loss) (85,947 ) (7,575,518 ) (101,573 ) Net unrealized appreciation (depreciation) (49,754,535 ) (102,926,664 ) 5,788,994 Total $ (58,734,816 ) $ (110,502,182 ) $ 8,035,270 Capital losses can be carried forward indefinitely to offset future capital gains. As of December 31, 2023, the Company had $9,042,947 in capital loss carryforwards. As of December 31, 2022, and 2021, the Company had no capital loss carryforwards. As of December 31, 2023, 2022, and 2021, the Company’s aggregate unrealized appreciation and depreciation on investments based on cost for U.S. federal income tax purposes was as follows: December 31, December 31, December 31, 2023 2022 2021 Tax cost $ 1,158,548,300 $ 1,120,121,398 $ 1,188,452,438 Gross unrealized appreciation 9,383,672 1,008,264 9,331,858 Gross unrealized depreciation (59,138,207 ) (103,934,928 ) (3,542,964 ) Net unrealized appreciation/(depreciation) on investments $ (49,754,535 ) $ (102,926,664 ) $ 5,788,994 The Company adopted FASB ASC Topic 740, Accounting for Uncertainty in Income Taxes

Financial Highlights

Financial Highlights	12 Months Ended
	Dec. 31, 2023
Investment Company, Financial Highlights [Abstract]
Financial Highlights	Note 11. Financial Highlights The following per share of common stock data has been derived from information provided in the consolidated financial statements. The following is a schedule of financial highlights for the years ended December 31, 2023, 2022, and 2021, and for the period January 23, 2020 (Commencement of Operations) through December 31, 2020: For the Period For the Year Ended December 31, December 31, 2023 2022 2021 2020 Per Common Share Operating Performance Net Asset Value, Beginning of Period $ 14.96 $ 20.06 $ 20.15 20.00 Results of Operations: Net Investment Income (1) 2.26 1.78 1.47 1.32 Net Realized and Unrealized Gain (Loss) on Investments (4) 1.98 (5.00 ) (0.18 ) (0.19 ) Net Increase (Decrease) in Net Assets Resulting from Operations 4.24 (3.22 ) 1.29 1.13 Distributions to Common Stockholders Distributions from Net Investment Income (2.16 ) (1.85 ) (1.01 ) (0.98 ) Distributions from Realized Gains - (0.03 ) (0.37 ) - Net Decrease in Net Assets Resulting from Distributions (2.16 ) (1.88 ) (1.38 ) (0.98 ) Net Asset Value, End of Period $ 17.04 $ 14.96 $ 20.06 20.15 Shares Outstanding, End of Period 27,102,794 24,286,628 22,570,331 12,562,805 Ratio/Supplemental Data Net assets, end of period $ 461,955,393 $ 363,443,482 $ 452,797,588 253,144,971 Weighted-average shares outstanding 25,700,603 23,130,666 15,494,614 11,156,932 Total Return (3) 29.21 % (16.51 %) 8.10 % 4.29 % Portfolio turnover 25 % 27 % 53 % 63 % Ratio of operating expenses to average net assets without waiver (2) 13.15 % 8.28 % 5.54 % 5.69 % Ratio of operating expenses to average net assets with waiver (2) 12.90 % 8.03 % 5.29 % 5.44 % Ratio of net investment income (loss) to average net assets without waiver (2) 13.54 % 9.61 % 6.92 % 7.18 % Ratio of net investment income (loss) to average net assets with waiver (2) 13.79 % 9.86 % 7.17 % 7.43 % (1) The per common share data was derived by using weighted average shares outstanding. (2) The ratios reflect an annualized amount. (3) Total return is calculated as the change in net asset value (“NAV”) per share during the period, plus distributions per share (if any), divided by the beginning NAV per share. Total return is not annualized. Assumes reinvestment of distributions. (4) Realized and unrealized gains and losses per share in this caption are balancing amounts necessary to reconcile the change in net asset value per share for the period, and may not reconcile with the aggregate gains and losses in the Consolidated Statements of Operations due to share transactions during the period.

Selected Quarterly Financial Da

Selected Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2023
Selected Quarterly Financial Data (Unaudited) [Abstract]
Selected Quarterly Financial Data (Unaudited)	Note 12. Selected Quarterly Financial Data (Unaudited) The following are the quarterly results of operations for the years ended December 31, 2023, 2022, and 2021. The following information reflects all normal recurring adjustments necessary for a fair presentation of the information for the periods presented. The operating results for any quarter are not necessarily indicative of results for any future period. For the Three Months Ended March 31, June 30, September 30, December 31, Investment income $ 26,185,502 $ 27,441,864 $ 28,773,690 $ 29,822,551 Net expenses 12,592,823 13,241,745 13,969,777 14,431,742 Net investment income (loss) 13,592,679 14,200,119 14,803,913 15,390,809 Net realized gain (loss) on investments, and foreign currency transactions (317,446 ) (2,570 ) (2,103,618 ) (291,779 ) Net change in unrealized gain (loss) on investments, foreign currency translations, and foreign currency contracts 14,813,089 9,743,113 21,152,793 6,854,549 Increase (decrease) in net assets resulting from operations $ 28,088,322 $ 23,940,662 $ 33,853,088 $ 21,953,579 Net asset value per share as of the end of the quarter $ 16.12 $ 16.55 $ 16.76 $ 17.04 For the Three Months Ended March 31, June 30, September 30, December 31, Investment income $ 14,254,960 $ 16,497,241 $ 19,973,554 $ 23,774,145 Net expenses 5,584,387 6,947,708 9,521,115 11,365,858 Net investment income (loss) 8,670,573 9,549,533 10,452,439 12,408,287 Net realized gain (loss) on investments, and foreign currency transactions (369,870 ) (486,754 ) (496,697 ) (6,776,866 ) Net change in unrealized gain (loss) on investments, foreign currency translations, and foreign currency contracts (11,731,503 ) (74,394,896 ) (16,711,415 ) (4,595,166 ) Increase (decrease) in net assets resulting from operations $ (3,430,800 ) $ (65,332,117 ) $ (6,755,673 ) $ 1,036,255 Net asset value per share as of the end of the quarter $ 19.91 $ 16.71 $ 16.00 $ 14.96 For the Three Months Ended March 31, June 30, September 30, December 31, Investment income $ 9,674,876 $ 7,869,228 $ 8,875,949 $ 13,265,600 Net expenses 3,637,128 3,673,024 3,966,032 5,575,228 Net investment income (loss) 6,037,748 4,196,204 4,909,917 7,690,372 Net realized gain (loss) on investments, and foreign currency transactions 1,132,657 2,712,837 489,555 418,214 Net change in unrealized gain (loss) on investments, foreign currency translations, and foreign currency contracts (1,826,413 ) (1,871,880 ) (673,345 ) (4,156,148 ) Increase (decrease) in net assets resulting from operations $ 5,343,992 $ 5,037,161 $ 4,726,127 $ 3,952,438 Net asset value per share as of the end of the quarter $ 20.57 $ 20.65 $ 20.70 $ 20.06

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Note 13. Subsequent Events The Company’s management has evaluated subsequent events through the date of issuance of the consolidated financial statements included herein. There have been no subsequent events that require recognition or disclosure in these consolidated financial statements except for the following: Initial Public Offering On January 22, 2024, the Company completed its IPO, issuing 5,450,000 shares of common stock, par value $0.001, at a public offering price of $16.45 per share. Total net proceeds were $89,652,500. The Company’s common stock began trading on the New York Stock Exchange under the symbol “PSBD” on January 18, 2024. Proceeds from this offering were primarily used to make investments in accordance with the Company’s investment objectives and strategies. Unfunded Capital Commitments As of January 24, 2024, OMNIA Partners, LLC was fully funded for $223,269. As of January 31, 2024, $33,214 of the outstanding commitment to Accession Risk Management Group Inc. was funded. The balance of the remaining unfunded commitment is $2,424,643. As of February 8, 2024, $41,439 of the outstanding commitment to Aptean Inc. was funded. The balance of the remaining unfunded commitment is $810,041.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net Income (Loss)	$ 107,835,651	$ (74,482,335)	$ 19,059,718

Insider Trading Arrangements

Insider Trading Arrangements	12 Months Ended
	Dec. 31, 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

N-2

N-2 - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jan. 22, 2020
Cover [Abstract]
Entity Central Index Key	0001794776
Amendment Flag	false
Securities Act File Number	000-56126
Document Type	10-K
Entity Registrant Name	Palmer Square Capital BDC Inc.
Entity Address, Address Line One	1900 Shawnee Mission Parkway
Entity Address, Address Line Two	Suite 315
Entity Address, City or Town	Mission Woods
Entity Address, State or Province	KS
Entity Address, Postal Zip Code	66205
City Area Code	(816)
Local Phone Number	994-3200
Entity Well-known Seasoned Issuer	No
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Financial Highlights [Abstract]
Senior Securities, Note [Text Block]	Senior Securities We are permitted, under specified conditions, to issue multiple classes of indebtedness and one class of stock senior to our common stock if our asset coverage, as defined in the 1940 Act, is at least equal to 150% immediately after each such issuance. In addition, while any senior securities remain outstanding, we must make provisions to prohibit any distribution to our stockholders or the repurchase of such securities or shares unless we meet the applicable asset coverage ratios at the time of the distribution or repurchase. We may also borrow amounts up to 5% of the value of our total assets for temporary or emergency purposes without regard to asset coverage.
General Description of Registrant [Abstract]
Risk Factors [Table Text Block]	Item 1A. Risk Factors Investing in our common stock involves a number of significant risks. The investor should be aware of various risks, including those described below. The investor should carefully consider these risk factors, together with all of the other information included in this Annual Report. The risks set out below are not the only risks we face. Additional risks and uncertainties not presently known to us or not presently deemed material by us may also materially and adversely affect our business, financial condition and/or operating results. If any of the following events occur, our business, financial condition, results of operations and cash flows could be materially and adversely affected. In such case, the net asset value of our common stock could decline, and an investor may lose all or part of his or her investment. The following is a summary of the principal risks that you should carefully consider before investing in our securities. Further details regarding each risk included in the below summary list can be found further below. ● Dependence Upon Key Personnel of PSCM and the Investment Advisor — ● Operation in a Highly Competitive Market for Investment Opportunities — ● Financing Investments With Borrowed Money ● Changes in Interest Rates May Affect Our Cost of Capital and Net Investment Income — ● Investments in Leveraged Portfolio Companies — ● Investments in CLOs — ● Investments in Covenant-Lite Loans ● Risks Regarding Distributions — ● Dependence on Strong Referral Relationships — ● Uncertainty Regarding the Value of Portfolio Investments — ● Investment in High Yield Debt with Greater Credit and Liquidity Risk — Risks Related to our Business and Structure We are dependent upon key personnel of PSCM and the Investment Advisor. Pursuant to the Resource Sharing Agreement between the Investment Advisor and PSCM, PSCM provides the Investment Advisor with experienced investment professionals and services so as to enable the Investment Advisor to fulfil its obligations under the Advisory Agreement. Accordingly, our success is highly dependent on the financial and managerial expertise of the Investment Advisor and, in turn, PSCM. The individuals may not necessarily continue to remain employed by PSCM or affiliated with PSCM. Although we have attempted to foster a team approach to investing, the loss of key individuals employed by PSCM or affiliated with PSCM or our Investment Advisor, including Christopher D. Long and Angie K. Long, could have a material adverse effect on our financial condition, performance and ability to achieve our investment objectives. In addition, we cannot assure you that our Investment Advisor will remain our investment adviser or that we will continue to have access to PSCM or its investment professionals. Moreover, the Resource Sharing Agreement may be terminated by either party on 60 days’ notice; the termination of the Resource Sharing Agreement could have a material adverse effect on our financial condition, performance and ability to achieve our investment objectives. The Investment Advisor’s and PSCM’s investment professionals expect to devote such time and attention to the conduct of our business as such business shall reasonably require. However, there can be no assurance, for example, that the members of the Investment Advisor or such investment professionals will devote any minimum number of hours each week to our affairs or that they will continue to be employed by PSCM. In the event that certain employees of the Investment Advisor cease to be actively involved with us, we will be required to rely on the ability of PSCM to identify and retain other investment professionals to conduct our business. We are dependent on strong referral relationships. We depend upon our Investment Advisor and its affiliates to maintain their relationships with private equity sponsors, placement agents, investment banks, management groups and other financial institutions, and we expect to rely to a significant extent upon these relationships to provide us with potential investment opportunities. If our Investment Advisor and its affiliates fail to maintain such relationships, or to develop new relationships with other sources of investment opportunities, we will not be able to grow our investment portfolio. In addition, individuals with whom our Investment Advisor and its affiliates have relationships are not obligated to provide us with investment opportunities, and we can offer no assurance that these relationships will generate investment opportunities for us in the future. Our investment decisions may be expedited. Investment analyses and decisions by the Investment Advisor may frequently be required to be undertaken on an expedited basis to take advantage of investment opportunities. In these cases, the information available to the Investment Advisor at the time of making an investment decision may be limited. Therefore, no assurance can be given that the Investment Advisor will have knowledge of all circumstances that may adversely affect an investment. Our financial condition, results of operations and cash flows depend on our ability to manage our business effectively. Our ability to achieve our investment objective will depend on our ability to manage our business and to grow our investments and earnings. This will depend, in turn, on our Investment Advisor’s ability to identify, invest in and monitor portfolio companies that meet our investment criteria. The achievement of our investment objectives on a cost-effective basis will depend upon our Investment Advisor’s execution of our investment process, its ability to provide competent, attentive and efficient services to us and, to a lesser extent, our access to financing on acceptable terms. Any failure to manage our business and our future growth effectively could have a material adverse effect on our business, financial condition, results of operations and cash flows. Our executive officers and directors, our Investment Advisor, PSCM and their affiliates, officers, directors and employees may face certain conflicts of interest. The employees of PSCM and our Investment Advisor serve, or may serve, as officers, directors, members, or principals of entities that operate in the same or a related line of business as we do, or of investment funds, accounts, or investment vehicles managed by it and/or its affiliates. Similarly, PSCM, the Investment Advisor and their affiliates may have other clients with similar, different or competing investment objectives. In serving in these multiple capacities, they may have obligations to other clients or investors in those entities, the fulfillment of which may not be in the best interests of us or our stockholders. There is a potential that we will compete with these clients, and other entities managed by the Investment Advisor and its affiliates, for capital and investment opportunities. As a result, the Investment Advisor and, as applicable, the members of the Investment Committee may face conflicts in the allocation of investment opportunities among us and the investment funds, accounts and investment vehicles managed by the Investment Advisor and its affiliates. Our Investment Advisor intends to allocate investment opportunities among eligible investment funds, accounts and investment vehicles in a manner that is fair and equitable over time and consistent with its allocation policy. However, we can offer no assurance that such opportunities will be allocated to us fairly or equitably in the short-term or over time. Our Investment Advisor or its affiliates may, from time to time, possess material non-public information, limiting our investment discretion. Principals and other employees of our Investment Advisor, including members of the Investment Advisor’s Investment Committee, may serve as directors of, or in a similar capacity with, portfolio companies in which we invest, the securities of which are purchased or sold on our behalf. In the event that material nonpublic information is obtained with respect to such companies, or we become subject to trading restrictions under the internal trading policies of those companies or as a result of applicable law or regulations, we could be prohibited for a period of time from purchasing or selling the securities of such companies, and this prohibition may have an adverse effect on us. Our management and incentive fee structure with our Investment Advisor may create incentives for our Investment Advisor that are not fully aligned with the interests of our stockholders and may induce our Investment Advisor to make speculative investments. In the course of our investing activities, we pay management and incentive fees to the Investment Advisor. We have entered into an Advisory Agreement with the Investment Advisor. Under the incentive fee structure, our adjusted net investment income for purposes thereof is computed and paid on income that may include interest income that has been accrued but not yet received in cash. This fee structure may give rise to a conflict of interest for the Investment Advisor to the extent that it encourages the Investment Advisor to favor debt financings that provide for deferred interest, rather than current cash payments of interest. The Investment Advisor may have an incentive to invest in deferred interest securities in circumstances where it would not have done so but for the opportunity to continue to earn the Income Incentive Fee even when the issuers of the deferred interest securities would not be able to make actual cash payments to us on such securities. This risk could be increased because, under our Advisory Agreement, the Investment Advisor is not obligated to reimburse us for incentive fees it receives even if we subsequently incur losses or never receive in cash the deferred income that was previously accrued. The valuation process for certain of our portfolio holdings may create a conflict of interest. We may make portfolio investments in the form of loans and securities that are not publicly traded and for which no market based price quotation is available. Effective August 11, 2022, our Board designated the Investment Advisor as our valuation designee. The participation of the Investment Advisor’s investment professionals in our valuation process could result in a conflict of interest as the Investment Advisor’s base management fee is based, in part, on the value of our total net assets. We operate in a highly competitive market for investment opportunities, which could reduce returns and result in losses. The business of investing in assets meeting our investment objective is highly competitive. Competition for investment opportunities includes a growing number of nontraditional participants, such as hedge funds, senior private debt funds, including BDCs, and other private investors, as well as more traditional lending institutions and competitors. Some of these competitors may have access to greater amounts of capital or may have different return thresholds than us, and thus these competitors may have advantages not shared by us. Furthermore, many of our competitors are not subject to the regulatory restrictions that the 1940 Act imposes on us as a BDC or the source-of-income, asset diversification and distribution requirements we must satisfy to qualify and maintain our RIC status. Increased competition for, or a diminishment in the available supply of, investments suitable for us could result in lower returns on such investments. Moreover, the identification of attractive investment opportunities is difficult and involves a high degree of uncertainty. We may incur significant expenses in connection with identifying investment opportunities and investigating other potential investments which are ultimately not consummated, including expenses relating to due diligence, transportation, legal expenses and the fees of other third party advisors. With respect to the investments we make, we will not seek to compete based primarily on the interest rates we will offer, and we believe that some of our competitors may make loans with interest rates that will be lower than the rates we offer. In the secondary market for acquiring existing loans, we expect to compete generally on the basis of pricing terms. With respect to all investments, we may lose some investment opportunities if we do not match our competitors’ pricing, terms and structure. However, if we match our competitors’ pricing, terms and structure, we may experience decreased net interest income, lower yields and increased risk of credit loss. We may need to raise additional capital. We may need to raise additional capital to fund new investments and grow our portfolio of investments. We intend to access the capital markets periodically to issue debt or equity securities or borrow from financial institutions in order to obtain such additional capital. Unfavorable economic conditions could increase our funding costs, limit our access to the capital markets or result in a decision by lenders not to extend credit to us. A reduction in the availability of new capital could limit our ability to grow. In addition, we are required to distribute dividends for U.S. federal income tax purposes of an amount generally at least equally to 90% of the sum of our net ordinary income and net short-term capital gains in excess of net long-term capital losses, if any, to our stockholders to qualify and maintain our RIC status. As a result, these earnings will not be available to fund new investments. An inability on our part to access the capital markets successfully could limit our ability to grow our business and execute our business strategy fully and could decrease our earnings, if any, which would have an adverse effect on the value of our securities. Our investments in PIK interest income may expose us to risks, including a possible increase in incentive fees that are payable by us to the Investment Advisor. Certain of our debt investments may contain provisions providing for the payment of PIK interest. Because PIK interest results in an increase in the size of the loan balance of the underlying loan, the receipt by us of PIK interest will have the effect of increasing our total net assets. As a result, because the base management fee that we pay to the Investment Advisor is based on the value of our total net assets, the receipt by us of PIK interest will result in an increase in the amount of the base management fee payable by us. In addition, any such increase in a loan balance due to the receipt of PIK interest will cause such loan to accrue interest on the higher loan balance, which will result in an increase in our pre-incentive fee net investment income and, as a result, an increase in incentive fees that are payable by us to the Investment Advisor. Our strategy involves a high degree of leverage. We intend to continue to finance our investments with borrowed money, which will magnify the potential for gain or loss on amounts invested and may increase the risk of investing in us. The use of leverage magnifies the potential for gain or loss on amounts invested. The use of leverage is generally considered a speculative investment technique and increases the risks associated with investing in our securities. We have borrowed and intend to continue to borrow from, and may in the future issue debt securities to, banks, insurance companies and other lenders. Lenders of these funds will have fixed dollar claims on our assets that are superior to the claims of our common stockholders, and we would expect such lenders to seek recovery against our assets in the event of a default. We may pledge up to 100% of our assets and may grant a security interest in all of our assets under the terms of any debt instruments we may enter into with lenders. If the value of our assets decreases, leveraging would cause net asset value to decline more sharply than it otherwise would have had we not leveraged, thereby magnifying losses or eliminating our stake in a leveraged investment. Similarly, any decrease in our revenue or income will cause our net income to decline more sharply than it would have had we not borrowed. Such a decline would also negatively affect our ability to make dividend payments on our common stock. Our ability to service any debt will depend largely on our financial performance and will be subject to prevailing economic conditions and competitive pressures. In addition, our common stockholders will bear the burden of any increase in our expenses as a result of our use of leverage, including interest expenses. As a BDC, we generally are required to meet a coverage ratio of total assets to total borrowings and other senior securities, which include all of our borrowings and any preferred stock that we may issue in the future, of at least 150%. If this ratio declines below 150%, we will not be able to incur additional debt when it is otherwise advantageous or necessary for us to do so. The amount of leverage that we employ will depend on the Investment Advisor’s and our Board’s assessment of market and other factors at the time of any proposed borrowing. We cannot assure you that we will be able to obtain credit at all or on terms acceptable to us. [Illustration. Assumed Return on Our Portfolio (1) (10.0 )% (5.0 )% 0.0 % 5.0 % 10.0 % Corresponding net return to common stockholder (33.13 )% (21.12 )% (9.12 ) % 2.88 % 14.88 % (1) Assumes (i) $1.1 billion in total assets as of December 31, 2023, (ii) $1.1 billion in non-controlled, non-affiliated investments at fair value as of December 31, 2023, (iii) $629.6 million in outstanding indebtedness as of December 31, 2023, (iv) $462.0 million in net assets as of December 31, 2023 and (iv) weighted average interest rate of 6.58% on our indebtedness for the twelve months ended December 31, 2023. Based on outstanding indebtedness of $629.6 million as of December 31, 2023, and the weighted average effective interest rate of 6.58%, our investment portfolio would have had to produce an annual return of approximately 3.80% to cover annual interest payments on outstanding debt. We are subject to various covenants under our credit facilities which, if not complied with, could result in reduced availability and/or mandatory prepayments under our credit facilities. We are subject to various covenants under our credit facilities which, if not complied with, could result in reduced availability and/or mandatory prepayments under our credit facilities. In the event we default under our credit facilities or any other future borrowing facility, our business could be adversely affected as we may be forced to sell a portion of our investments quickly and prematurely at what may be disadvantageous prices to us in order to meet our outstanding payment obligations and/or support working capital requirements under our credit facilities, or such future borrowing facility, any of which would have a material adverse effect on our business, financial condition, results of operations and cash flows. In addition, following any such default, the agent for the lenders under our credit facilities, or such future borrowing facility could assume control of the disposition of any or all of our assets, including the selection of such assets to be disposed and the timing of such disposition, which would have a material adverse effect on our business, financial condition, results of operations and cash flows. In addition to asset coverage ratio requirements, our credit facilities contain various covenants which, if not complied with, could accelerate repayment of the indebtedness under our credit facilities. This could have a material adverse effect on our business, financial condition and results of operations. Our borrowings under the BoA Credit Facility are collateralized by the assets in a special purpose wholly-owned subsidiary, PS BDC Funding. The agreements governing the BoA Credit Facility require us to comply with certain financial and operational covenants. These covenants include a requirement to maintain a first-prior security interest in the collateral for the benefit of the lenders under the BoA Credit Facility, maintain various policies and procedures, and maintain a minimum borrowing base under the BoA Credit Facility. Our borrowings under the line of credit provided to us under the WF Credit Facility are collateralized by the assets in a special purpose wholly owned subsidiary, PS BDC Funding II. The agreements governing the WF Credit Facility require us to comply with certain financial and operational covenants. These covenants include a requirement to maintain a first-prior security interest in the collateral for the benefit of the lenders under the WF Credit Facility, maintain various policies and procedures, and maintain a minimum borrowing base under the WF Credit Facility. Our continued compliance with the covenants under our credit facilities depends on many factors, some of which are beyond our control. Changes in interest rates may affect our cost of capital and net investment income. Because we borrow money to make investments, our net investment income will depend, in part, upon the difference between the rate at which we borrow funds and the rate at which we invest those funds. As a result, we can offer no assurance that a significant change in market interest rates would not have a material adverse effect on our net investment income given that we use debt to finance our investments. In periods of rising interest rates, our cost of funds could increase, which could reduce our net investment income. In addition, in a prolonged low interest rate environment, the difference between investment income earned on interest earning assets and the interest expense incurred on interest bearing liabilities may be compressed, reducing our net investment income and potentially adversely affecting our operating results. We may use interest rate risk management techniques in an effort to limit our exposure to interest rate fluctuations. Such techniques may include various interest rate hedging activities to the extent permitted by the 1940 Act. We may have uncertainty as to the value of certain portfolio investments. We expect that certain of our portfolio investments may take the form of securities that are not publicly traded. The fair value of loans, securities and other investments that are not publicly traded may not be readily determinable and we will value these investments at fair value as determined in good faith by the Investment Advisor (subject to the Board’s oversight). Certain of our investments (other than cash and cash equivalents) will be classified as Level 2 assets under Topic 820 of the U.S. Financial Accounting Standards Board’s Accounting Standards Codification (“ASC”), as amended, Fair Value Measurements and Disclosures (“ASC 820”). This means that certain of our portfolio valuations will be based on inputs other than quoted prices which are either directly or indirectly observable, such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in non-active markets including actionable bids from third parties for privately held assets or liabilities, and observable inputs other than quoted prices such as yield curves and forward currency rates that are entered directly into valuation models to determine the value of derivatives or other assets or liabilities. Certain other of our investments may be classified as Level 3 under ASC 820, which means that certain of our portfolio valuations will be based on unobservable inputs and our own assumptions about how market participants would price the asset or liability in question. We expect that inputs into the determination of fair value of our portfolio investments will require significant management judgment or estimation. Even if observable market data are available, such information may be the result of consensus pricing information or broker quotes, which include a disclaimer that the broker would not be held to such a price in an actual transaction. The non-binding nature of consensus pricing and/or quotes accompanied by disclaimers materially reduces the reliability of such information. The types of factors that the Board may take into account in determining the fair value of our investments generally include, as appropriate, comparison to publicly-traded securities including such factors as yield, maturity and measures of credit quality, the enterprise value of a portfolio company, the nature and realizable value of any collateral, the portfolio company’s ability to make payments and its earnings and discounted cash flow, the markets in which the portfolio company does business and other relevant factors. Because such valuations, and particularly valuations of private securities and private companies, are inherently uncertain, may fluctuate over short periods of time and may be based on estimates, our determinations of fair value may differ materially from the values that would have been used if a ready market for these loans and securities existed. Our net asset value could be adversely affected if our determinations regarding the fair value of our investments were materially higher than the values that we ultimately realize upon the disposal of such loans and securities. In addition, the method of calculating the base management fee may result in conflicts of interest between the Investment Advisor, on the one hand, and our stockholders on the other hand, with respect to valuation of investments. We will adjust on a quarterly basis the valuation of our portfolio to reflect the Investment Advisor’s determination (subject to the Board’s oversight) of the fair value of each investment in our portfolio for which market quotes are not readily available. Any changes in fair value are recorded in our statements of operations as net change in unrealized appreciation or depreciation on investments. We may experience fluctuations in our quarterly operating results. We could experience fluctuations in our quarterly operating results due to a number of factors, including the interest rate payable on the loans and debt securities we acquire, the default rate on such loans and securities, the level of our expenses, variations in and the timing of the recognition of realized and unrealized gains or losses, the degree to which we encounter competition in our markets and general economic conditions. Moreover, as of December 31, 2023, 100% of our investments were classified as Level 1 or Level 2, which may cause our NAV to experience greater fluctuations than funds with a greater proportion of Level 3 assets. In light of these factors, results for any period should not be relied upon as being indicative of performance in future periods. The Board may change our investment objectives, operating policies and strategies without prior notice or stockholder approval. The Board has the authority, except as otherwise provided in the 1940 Act, to modify or waive certain of our operating policies and strategies without prior notice and without stockholder approval. We cannot predict the effect any changes to our current operating policies and strategies would have on our business, operating results and the market price of our common stock. Nevertheless, any such changes could adversely affect our business and impair our ability to make distributions to our stockholders. We are subject to risks related to our management of ESG activities. Our business faces increasing public scrutiny related to ESG activities. We risk damage to our brand and reputation if we fail to act responsibly in a number of areas, such as environmental stewardship, corporate governance and transparency and considering ESG factors in our investment processes. Adverse incidents with respect to ESG activities could impact the value of our brand, the cost of our operations and relationships with investors, all of which could adversely affect our business and results of operations. Additionally, new regulatory initiatives related to ESG could adversely affect our business. Our Investment Advisor and Administrator each have the ability to resign on 60 days’ notice, and we may not be able to find a suitable replacement within that time, resulting in a disruption in our operations that could adversely affect our financial condition, business and results of operations. The Investment Advisor has the right under the Advisory Agreement to resign as our Investment Advisor at any time upon not less than 60 days’ written notice, whether we have found a replacement or not. Similarly, our Administrator has the right under the Administration Agreement to resign at any time upon not less than 60 days’ written notice, whether we have found a replacement or not. If the Investment Advisor or Administrator were to resign, we may not be able to find a new investment adviser or administrator, as applicable, or hire internal management with similar expertise and ability to provide the same or equivalent services on acceptable terms within 60 days, or at all. If we are unable to do so quickly, our operations are likely to experience a disruption, our financial condition, business and results of operations as well as our ability to pay distributions to our stockholders are likely to be adversely affected. Moreover, pursuant to the Resource Sharing Agreement, PSCM provides the Investment Advisor with experienced investment professionals and services so as to enable the Investment Advisor to fulfill its obligations under the Advisory Agreement, and such Resource Sharing Agreement may itself be terminated on 60 days’ notice. If PSCM were to so terminate the Resource Sharing Agreement, the Investment Advisor may be required to seek to find an alternate means of fulfilling its obligations under the Advisory Agreement, or to resign. We are highly dependent on information systems, and systems failures or cyber-attacks could significantly disrupt our business, which may, in turn, negatively affect the value of shares of our common stock and our ability to pay distributions. Our business relies on secure information technology systems. These systems are exposed to operational and information security risks resulting from cyberattacks that threaten the confidentiality, integrity or availability of our information resources (i.e., cyber incidents). Cyber incidents can result from unintentional events (such as an inadvertent release of confidential information) or deliberate attacks by insiders or third parties. These attacks could involve gaining unauthorized access to our information systems for purposes of misappropriating assets, stealing and unauthorized release of confidential information, corrupting data, denial of service attacks on our websites, “ransomware” that renders systems inoperable until ransom is paid, or various other forms of cybersecurity breaches. Cybersecurity incidents and cyber-attacks have been occurring more frequently and will likely continue to increase. Such cyber incidents could result in disrupted operations, misstated or unreliable financial data, liability for stolen assets or information, increased cybersecurity protection and insurance costs, litigation and damage to our business relationships, any of which could have a material adverse effect on our business, financial condition and results of operations. As our reliance on technology has increased, so have the risks posed to our information systems, both internal and those provided by the Investment Advisor and third-party service providers. Cyber incidents affecting us, our Investment Advisor, or third-party service providers may adversely impact us or the companies in which we invest, causing our investments to lose value. We, along with our Investment Advisor, have implemented processes, procedures and internal controls to help mitigate cybersecurity risks and cyber intrusions. However, these measures may not be effective, and there can be no assurance that a cyber incident will not occur or that our financial results, operations or confidential information will not be negatively impacted by such an incident. In addition, the costs related to cyber or other security threats or disruptions may not be fully insured or indemnified by other means, and we may be required to expend additional resources to modify our protective measures and to investigate and remediate vulnerabilities or other exposures arising from operational and security risks. Furthermore, cybersecurity continues to be a key priority
NAV Per Share	$ 17.04	$ 14.96	$ 20.06	$ 20.15	$ 20
Risks Related to our Business and Structure [Member]
General Description of Registrant [Abstract]
Risk [Text Block]	Risks Related to our Business and Structure We are dependent upon key personnel of PSCM and the Investment Advisor. Pursuant to the Resource Sharing Agreement between the Investment Advisor and PSCM, PSCM provides the Investment Advisor with experienced investment professionals and services so as to enable the Investment Advisor to fulfil its obligations under the Advisory Agreement. Accordingly, our success is highly dependent on the financial and managerial expertise of the Investment Advisor and, in turn, PSCM. The individuals may not necessarily continue to remain employed by PSCM or affiliated with PSCM. Although we have attempted to foster a team approach to investing, the loss of key individuals employed by PSCM or affiliated with PSCM or our Investment Advisor, including Christopher D. Long and Angie K. Long, could have a material adverse effect on our financial condition, performance and ability to achieve our investment objectives. In addition, we cannot assure you that our Investment Advisor will remain our investment adviser or that we will continue to have access to PSCM or its investment professionals. Moreover, the Resource Sharing Agreement may be terminated by either party on 60 days’ notice; the termination of the Resource Sharing Agreement could have a material adverse effect on our financial condition, performance and ability to achieve our investment objectives. The Investment Advisor’s and PSCM’s investment professionals expect to devote such time and attention to the conduct of our business as such business shall reasonably require. However, there can be no assurance, for example, that the members of the Investment Advisor or such investment professionals will devote any minimum number of hours each week to our affairs or that they will continue to be employed by PSCM. In the event that certain employees of the Investment Advisor cease to be actively involved with us, we will be required to rely on the ability of PSCM to identify and retain other investment professionals to conduct our business. We are dependent on strong referral relationships. We depend upon our Investment Advisor and its affiliates to maintain their relationships with private equity sponsors, placement agents, investment banks, management groups and other financial institutions, and we expect to rely to a significant extent upon these relationships to provide us with potential investment opportunities. If our Investment Advisor and its affiliates fail to maintain such relationships, or to develop new relationships with other sources of investment opportunities, we will not be able to grow our investment portfolio. In addition, individuals with whom our Investment Advisor and its affiliates have relationships are not obligated to provide us with investment opportunities, and we can offer no assurance that these relationships will generate investment opportunities for us in the future. Our investment decisions may be expedited. Investment analyses and decisions by the Investment Advisor may frequently be required to be undertaken on an expedited basis to take advantage of investment opportunities. In these cases, the information available to the Investment Advisor at the time of making an investment decision may be limited. Therefore, no assurance can be given that the Investment Advisor will have knowledge of all circumstances that may adversely affect an investment. Our financial condition, results of operations and cash flows depend on our ability to manage our business effectively. Our ability to achieve our investment objective will depend on our ability to manage our business and to grow our investments and earnings. This will depend, in turn, on our Investment Advisor’s ability to identify, invest in and monitor portfolio companies that meet our investment criteria. The achievement of our investment objectives on a cost-effective basis will depend upon our Investment Advisor’s execution of our investment process, its ability to provide competent, attentive and efficient services to us and, to a lesser extent, our access to financing on acceptable terms. Any failure to manage our business and our future growth effectively could have a material adverse effect on our business, financial condition, results of operations and cash flows. Our executive officers and directors, our Investment Advisor, PSCM and their affiliates, officers, directors and employees may face certain conflicts of interest. The employees of PSCM and our Investment Advisor serve, or may serve, as officers, directors, members, or principals of entities that operate in the same or a related line of business as we do, or of investment funds, accounts, or investment vehicles managed by it and/or its affiliates. Similarly, PSCM, the Investment Advisor and their affiliates may have other clients with similar, different or competing investment objectives. In serving in these multiple capacities, they may have obligations to other clients or investors in those entities, the fulfillment of which may not be in the best interests of us or our stockholders. There is a potential that we will compete with these clients, and other entities managed by the Investment Advisor and its affiliates, for capital and investment opportunities. As a result, the Investment Advisor and, as applicable, the members of the Investment Committee may face conflicts in the allocation of investment opportunities among us and the investment funds, accounts and investment vehicles managed by the Investment Advisor and its affiliates. Our Investment Advisor intends to allocate investment opportunities among eligible investment funds, accounts and investment vehicles in a manner that is fair and equitable over time and consistent with its allocation policy. However, we can offer no assurance that such opportunities will be allocated to us fairly or equitably in the short-term or over time. Our Investment Advisor or its affiliates may, from time to time, possess material non-public information, limiting our investment discretion. Principals and other employees of our Investment Advisor, including members of the Investment Advisor’s Investment Committee, may serve as directors of, or in a similar capacity with, portfolio companies in which we invest, the securities of which are purchased or sold on our behalf. In the event that material nonpublic information is obtained with respect to such companies, or we become subject to trading restrictions under the internal trading policies of those companies or as a result of applicable law or regulations, we could be prohibited for a period of time from purchasing or selling the securities of such companies, and this prohibition may have an adverse effect on us. Our management and incentive fee structure with our Investment Advisor may create incentives for our Investment Advisor that are not fully aligned with the interests of our stockholders and may induce our Investment Advisor to make speculative investments. In the course of our investing activities, we pay management and incentive fees to the Investment Advisor. We have entered into an Advisory Agreement with the Investment Advisor. Under the incentive fee structure, our adjusted net investment income for purposes thereof is computed and paid on income that may include interest income that has been accrued but not yet received in cash. This fee structure may give rise to a conflict of interest for the Investment Advisor to the extent that it encourages the Investment Advisor to favor debt financings that provide for deferred interest, rather than current cash payments of interest. The Investment Advisor may have an incentive to invest in deferred interest securities in circumstances where it would not have done so but for the opportunity to continue to earn the Income Incentive Fee even when the issuers of the deferred interest securities would not be able to make actual cash payments to us on such securities. This risk could be increased because, under our Advisory Agreement, the Investment Advisor is not obligated to reimburse us for incentive fees it receives even if we subsequently incur losses or never receive in cash the deferred income that was previously accrued. The valuation process for certain of our portfolio holdings may create a conflict of interest. We may make portfolio investments in the form of loans and securities that are not publicly traded and for which no market based price quotation is available. Effective August 11, 2022, our Board designated the Investment Advisor as our valuation designee. The participation of the Investment Advisor’s investment professionals in our valuation process could result in a conflict of interest as the Investment Advisor’s base management fee is based, in part, on the value of our total net assets. We operate in a highly competitive market for investment opportunities, which could reduce returns and result in losses. The business of investing in assets meeting our investment objective is highly competitive. Competition for investment opportunities includes a growing number of nontraditional participants, such as hedge funds, senior private debt funds, including BDCs, and other private investors, as well as more traditional lending institutions and competitors. Some of these competitors may have access to greater amounts of capital or may have different return thresholds than us, and thus these competitors may have advantages not shared by us. Furthermore, many of our competitors are not subject to the regulatory restrictions that the 1940 Act imposes on us as a BDC or the source-of-income, asset diversification and distribution requirements we must satisfy to qualify and maintain our RIC status. Increased competition for, or a diminishment in the available supply of, investments suitable for us could result in lower returns on such investments. Moreover, the identification of attractive investment opportunities is difficult and involves a high degree of uncertainty. We may incur significant expenses in connection with identifying investment opportunities and investigating other potential investments which are ultimately not consummated, including expenses relating to due diligence, transportation, legal expenses and the fees of other third party advisors. With respect to the investments we make, we will not seek to compete based primarily on the interest rates we will offer, and we believe that some of our competitors may make loans with interest rates that will be lower than the rates we offer. In the secondary market for acquiring existing loans, we expect to compete generally on the basis of pricing terms. With respect to all investments, we may lose some investment opportunities if we do not match our competitors’ pricing, terms and structure. However, if we match our competitors’ pricing, terms and structure, we may experience decreased net interest income, lower yields and increased risk of credit loss. We may need to raise additional capital. We may need to raise additional capital to fund new investments and grow our portfolio of investments. We intend to access the capital markets periodically to issue debt or equity securities or borrow from financial institutions in order to obtain such additional capital. Unfavorable economic conditions could increase our funding costs, limit our access to the capital markets or result in a decision by lenders not to extend credit to us. A reduction in the availability of new capital could limit our ability to grow. In addition, we are required to distribute dividends for U.S. federal income tax purposes of an amount generally at least equally to 90% of the sum of our net ordinary income and net short-term capital gains in excess of net long-term capital losses, if any, to our stockholders to qualify and maintain our RIC status. As a result, these earnings will not be available to fund new investments. An inability on our part to access the capital markets successfully could limit our ability to grow our business and execute our business strategy fully and could decrease our earnings, if any, which would have an adverse effect on the value of our securities. Our investments in PIK interest income may expose us to risks, including a possible increase in incentive fees that are payable by us to the Investment Advisor. Certain of our debt investments may contain provisions providing for the payment of PIK interest. Because PIK interest results in an increase in the size of the loan balance of the underlying loan, the receipt by us of PIK interest will have the effect of increasing our total net assets. As a result, because the base management fee that we pay to the Investment Advisor is based on the value of our total net assets, the receipt by us of PIK interest will result in an increase in the amount of the base management fee payable by us. In addition, any such increase in a loan balance due to the receipt of PIK interest will cause such loan to accrue interest on the higher loan balance, which will result in an increase in our pre-incentive fee net investment income and, as a result, an increase in incentive fees that are payable by us to the Investment Advisor. Our strategy involves a high degree of leverage. We intend to continue to finance our investments with borrowed money, which will magnify the potential for gain or loss on amounts invested and may increase the risk of investing in us. The use of leverage magnifies the potential for gain or loss on amounts invested. The use of leverage is generally considered a speculative investment technique and increases the risks associated with investing in our securities. We have borrowed and intend to continue to borrow from, and may in the future issue debt securities to, banks, insurance companies and other lenders. Lenders of these funds will have fixed dollar claims on our assets that are superior to the claims of our common stockholders, and we would expect such lenders to seek recovery against our assets in the event of a default. We may pledge up to 100% of our assets and may grant a security interest in all of our assets under the terms of any debt instruments we may enter into with lenders. If the value of our assets decreases, leveraging would cause net asset value to decline more sharply than it otherwise would have had we not leveraged, thereby magnifying losses or eliminating our stake in a leveraged investment. Similarly, any decrease in our revenue or income will cause our net income to decline more sharply than it would have had we not borrowed. Such a decline would also negatively affect our ability to make dividend payments on our common stock. Our ability to service any debt will depend largely on our financial performance and will be subject to prevailing economic conditions and competitive pressures. In addition, our common stockholders will bear the burden of any increase in our expenses as a result of our use of leverage, including interest expenses. As a BDC, we generally are required to meet a coverage ratio of total assets to total borrowings and other senior securities, which include all of our borrowings and any preferred stock that we may issue in the future, of at least 150%. If this ratio declines below 150%, we will not be able to incur additional debt when it is otherwise advantageous or necessary for us to do so. The amount of leverage that we employ will depend on the Investment Advisor’s and our Board’s assessment of market and other factors at the time of any proposed borrowing. We cannot assure you that we will be able to obtain credit at all or on terms acceptable to us. [Illustration. Assumed Return on Our Portfolio (1) (10.0 )% (5.0 )% 0.0 % 5.0 % 10.0 % Corresponding net return to common stockholder (33.13 )% (21.12 )% (9.12 ) % 2.88 % 14.88 % (1) Assumes (i) $1.1 billion in total assets as of December 31, 2023, (ii) $1.1 billion in non-controlled, non-affiliated investments at fair value as of December 31, 2023, (iii) $629.6 million in outstanding indebtedness as of December 31, 2023, (iv) $462.0 million in net assets as of December 31, 2023 and (iv) weighted average interest rate of 6.58% on our indebtedness for the twelve months ended December 31, 2023. Based on outstanding indebtedness of $629.6 million as of December 31, 2023, and the weighted average effective interest rate of 6.58%, our investment portfolio would have had to produce an annual return of approximately 3.80% to cover annual interest payments on outstanding debt. We are subject to various covenants under our credit facilities which, if not complied with, could result in reduced availability and/or mandatory prepayments under our credit facilities. We are subject to various covenants under our credit facilities which, if not complied with, could result in reduced availability and/or mandatory prepayments under our credit facilities. In the event we default under our credit facilities or any other future borrowing facility, our business could be adversely affected as we may be forced to sell a portion of our investments quickly and prematurely at what may be disadvantageous prices to us in order to meet our outstanding payment obligations and/or support working capital requirements under our credit facilities, or such future borrowing facility, any of which would have a material adverse effect on our business, financial condition, results of operations and cash flows. In addition, following any such default, the agent for the lenders under our credit facilities, or such future borrowing facility could assume control of the disposition of any or all of our assets, including the selection of such assets to be disposed and the timing of such disposition, which would have a material adverse effect on our business, financial condition, results of operations and cash flows. In addition to asset coverage ratio requirements, our credit facilities contain various covenants which, if not complied with, could accelerate repayment of the indebtedness under our credit facilities. This could have a material adverse effect on our business, financial condition and results of operations. Our borrowings under the BoA Credit Facility are collateralized by the assets in a special purpose wholly-owned subsidiary, PS BDC Funding. The agreements governing the BoA Credit Facility require us to comply with certain financial and operational covenants. These covenants include a requirement to maintain a first-prior security interest in the collateral for the benefit of the lenders under the BoA Credit Facility, maintain various policies and procedures, and maintain a minimum borrowing base under the BoA Credit Facility. Our borrowings under the line of credit provided to us under the WF Credit Facility are collateralized by the assets in a special purpose wholly owned subsidiary, PS BDC Funding II. The agreements governing the WF Credit Facility require us to comply with certain financial and operational covenants. These covenants include a requirement to maintain a first-prior security interest in the collateral for the benefit of the lenders under the WF Credit Facility, maintain various policies and procedures, and maintain a minimum borrowing base under the WF Credit Facility. Our continued compliance with the covenants under our credit facilities depends on many factors, some of which are beyond our control. Changes in interest rates may affect our cost of capital and net investment income. Because we borrow money to make investments, our net investment income will depend, in part, upon the difference between the rate at which we borrow funds and the rate at which we invest those funds. As a result, we can offer no assurance that a significant change in market interest rates would not have a material adverse effect on our net investment income given that we use debt to finance our investments. In periods of rising interest rates, our cost of funds could increase, which could reduce our net investment income. In addition, in a prolonged low interest rate environment, the difference between investment income earned on interest earning assets and the interest expense incurred on interest bearing liabilities may be compressed, reducing our net investment income and potentially adversely affecting our operating results. We may use interest rate risk management techniques in an effort to limit our exposure to interest rate fluctuations. Such techniques may include various interest rate hedging activities to the extent permitted by the 1940 Act. We may have uncertainty as to the value of certain portfolio investments. We expect that certain of our portfolio investments may take the form of securities that are not publicly traded. The fair value of loans, securities and other investments that are not publicly traded may not be readily determinable and we will value these investments at fair value as determined in good faith by the Investment Advisor (subject to the Board’s oversight). Certain of our investments (other than cash and cash equivalents) will be classified as Level 2 assets under Topic 820 of the U.S. Financial Accounting Standards Board’s Accounting Standards Codification (“ASC”), as amended, Fair Value Measurements and Disclosures (“ASC 820”). This means that certain of our portfolio valuations will be based on inputs other than quoted prices which are either directly or indirectly observable, such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in non-active markets including actionable bids from third parties for privately held assets or liabilities, and observable inputs other than quoted prices such as yield curves and forward currency rates that are entered directly into valuation models to determine the value of derivatives or other assets or liabilities. Certain other of our investments may be classified as Level 3 under ASC 820, which means that certain of our portfolio valuations will be based on unobservable inputs and our own assumptions about how market participants would price the asset or liability in question. We expect that inputs into the determination of fair value of our portfolio investments will require significant management judgment or estimation. Even if observable market data are available, such information may be the result of consensus pricing information or broker quotes, which include a disclaimer that the broker would not be held to such a price in an actual transaction. The non-binding nature of consensus pricing and/or quotes accompanied by disclaimers materially reduces the reliability of such information. The types of factors that the Board may take into account in determining the fair value of our investments generally include, as appropriate, comparison to publicly-traded securities including such factors as yield, maturity and measures of credit quality, the enterprise value of a portfolio company, the nature and realizable value of any collateral, the portfolio company’s ability to make payments and its earnings and discounted cash flow, the markets in which the portfolio company does business and other relevant factors. Because such valuations, and particularly valuations of private securities and private companies, are inherently uncertain, may fluctuate over short periods of time and may be based on estimates, our determinations of fair value may differ materially from the values that would have been used if a ready market for these loans and securities existed. Our net asset value could be adversely affected if our determinations regarding the fair value of our investments were materially higher than the values that we ultimately realize upon the disposal of such loans and securities. In addition, the method of calculating the base management fee may result in conflicts of interest between the Investment Advisor, on the one hand, and our stockholders on the other hand, with respect to valuation of investments. We will adjust on a quarterly basis the valuation of our portfolio to reflect the Investment Advisor’s determination (subject to the Board’s oversight) of the fair value of each investment in our portfolio for which market quotes are not readily available. Any changes in fair value are recorded in our statements of operations as net change in unrealized appreciation or depreciation on investments. We may experience fluctuations in our quarterly operating results. We could experience fluctuations in our quarterly operating results due to a number of factors, including the interest rate payable on the loans and debt securities we acquire, the default rate on such loans and securities, the level of our expenses, variations in and the timing of the recognition of realized and unrealized gains or losses, the degree to which we encounter competition in our markets and general economic conditions. Moreover, as of December 31, 2023, 100% of our investments were classified as Level 1 or Level 2, which may cause our NAV to experience greater fluctuations than funds with a greater proportion of Level 3 assets. In light of these factors, results for any period should not be relied upon as being indicative of performance in future periods. The Board may change our investment objectives, operating policies and strategies without prior notice or stockholder approval. The Board has the authority, except as otherwise provided in the 1940 Act, to modify or waive certain of our operating policies and strategies without prior notice and without stockholder approval. We cannot predict the effect any changes to our current operating policies and strategies would have on our business, operating results and the market price of our common stock. Nevertheless, any such changes could adversely affect our business and impair our ability to make distributions to our stockholders. We are subject to risks related to our management of ESG activities. Our business faces increasing public scrutiny related to ESG activities. We risk damage to our brand and reputation if we fail to act responsibly in a number of areas, such as environmental stewardship, corporate governance and transparency and considering ESG factors in our investment processes. Adverse incidents with respect to ESG activities could impact the value of our brand, the cost of our operations and relationships with investors, all of which could adversely affect our business and results of operations. Additionally, new regulatory initiatives related to ESG could adversely affect our business. Our Investment Advisor and Administrator each have the ability to resign on 60 days’ notice, and we may not be able to find a suitable replacement within that time, resulting in a disruption in our operations that could adversely affect our financial condition, business and results of operations. The Investment Advisor has the right under the Advisory Agreement to resign as our Investment Advisor at any time upon not less than 60 days’ written notice, whether we have found a replacement or not. Similarly, our Administrator has the right under the Administration Agreement to resign at any time upon not less than 60 days’ written notice, whether we have found a replacement or not. If the Investment Advisor or Administrator were to resign, we may not be able to find a new investment adviser or administrator, as applicable, or hire internal management with similar expertise and ability to provide the same or equivalent services on acceptable terms within 60 days, or at all. If we are unable to do so quickly, our operations are likely to experience a disruption, our financial condition, business and results of operations as well as our ability to pay distributions to our stockholders are likely to be adversely affected. Moreover, pursuant to the Resource Sharing Agreement, PSCM provides the Investment Advisor with experienced investment professionals and services so as to enable the Investment Advisor to fulfill its obligations under the Advisory Agreement, and such Resource Sharing Agreement may itself be terminated on 60 days’ notice. If PSCM were to so terminate the Resource Sharing Agreement, the Investment Advisor may be required to seek to find an alternate means of fulfilling its obligations under the Advisory Agreement, or to resign. We are highly dependent on information systems, and systems failures or cyber-attacks could significantly disrupt our business, which may, in turn, negatively affect the value of shares of our common stock and our ability to pay distributions. Our business relies on secure information technology systems. These systems are exposed to operational and information security risks resulting from cyberattacks that threaten the confidentiality, integrity or availability of our information resources (i.e., cyber incidents). Cyber incidents can result from unintentional events (such as an inadvertent release of confidential information) or deliberate attacks by insiders or third parties. These attacks could involve gaining unauthorized access to our information systems for purposes of misappropriating assets, stealing and unauthorized release of confidential information, corrupting data, denial of service attacks on our websites, “ransomware” that renders systems inoperable until ransom is paid, or various other forms of cybersecurity breaches. Cybersecurity incidents and cyber-attacks have been occurring more frequently and will likely continue to increase. Such cyber incidents could result in disrupted operations, misstated or unreliable financial data, liability for stolen assets or information, increased cybersecurity protection and insurance costs, litigation and damage to our business relationships, any of which could have a material adverse effect on our business, financial condition and results of operations. As our reliance on technology has increased, so have the risks posed to our information systems, both internal and those provided by the Investment Advisor and third-party service providers. Cyber incidents affecting us, our Investment Advisor, or third-party service providers may adversely impact us or the companies in which we invest, causing our investments to lose value. We, along with our Investment Advisor, have implemented processes, procedures and internal controls to help mitigate cybersecurity risks and cyber intrusions. However, these measures may not be effective, and there can be no assurance that a cyber incident will not occur or that our financial results, operations or confidential information will not be negatively impacted by such an incident. In addition, the costs related to cyber or other security threats or disruptions may not be fully insured or indemnified by other means, and we may be required to expend additional resources to modify our protective measures and to investigate and remediate vulnerabilities or other exposures arising from operational and security risks. Furthermore, cybersecurity continues to be a key priority for regulators around the world, and some jurisdictions have enacted laws requiring companies to notify individuals or the general investing public of data security breaches involving certain types of personal data, including the SEC, which, on July 26, 2023, adopted amendments requiring the prompt public disclosure of certain cybersecurity breaches. If we fail to comply with the relevant laws and regulations, we could suffer financial losses, a disruption of our businesses, liability to investors, regulatory intervention or reputational damage. Failure to maintain our status as a business development company would reduce our operating flexibility. If we do not maintain our status as a business development company, we might be regulated as a closed-end investment company under the 1940 Act, which would subject us to substantially more regulatory restrictions and correspondingly decrease our operating flexibility. Our charter includes an exclusive forum selection provision, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers, or other agents. Our charter provides that, unless we consent in writing to the selection of a different forum, (i) the Circuit Court for Baltimore City, Maryland, or, if that court does not have jurisdiction, the United States District Court for the District of Maryland, Baltimore Division, shall be, except for any claims made under the federal U.S. securities laws, the sole and exclusive forum for (a) any derivative action or proceeding brought on behalf of the Company, (b) any action asserting a claim of breach of any duty owed by a director
Risks Related to the 1940 Act [Member]
General Description of Registrant [Abstract]
Risk Factors [Table Text Block]	Risks Related to the 1940 Act Our ability to enter into transactions with our affiliates is restricted. The 1940 Act prohibits or restricts our ability to engage in certain principal transactions and joint transactions with certain “First Tier” affiliates and “Second Tier” affiliates. For example, we are prohibited from buying or selling any security from or to any person who owns more than 25% of our voting securities or certain of that person’s affiliates (each is a “First Tier” affiliate), or entering into prohibited joint transactions with such persons, absent the prior approval of the SEC. We consider the Investment Advisor and its affiliates, including PSCM, to be “First Tier” affiliates for such purposes. We are prohibited under the 1940 Act from participating in certain principal transactions and joint transactions with a “Second Tier” affiliate without the prior approval of our Independent Directors. Any person that owns, directly or indirectly, 5% or more of our outstanding voting securities will be a “Second Tier” affiliate for purposes of the 1940 Act, and we are generally prohibited from buying or selling any security from or to such affiliate without the prior approval of our Independent Directors. We may, however, invest alongside PSCM’s investment funds, accounts and investment vehicles in certain circumstances where doing so is consistent with our investment strategy as well as applicable law and SEC staff interpretations. For example, we may invest alongside such investment funds, accounts and investment vehicles consistent with guidance promulgated by the SEC staff to purchase interests in a single class of privately placed securities so long as certain conditions are met, including that the Investment Advisor and PSCM, acting on our behalf and on behalf of such investment funds, accounts and investment vehicles, negotiate no term other than price. In situations where co-investment with investment funds, accounts and investment vehicles managed by the Investment Advisor and its affiliates, including PSCM, is not permitted or appropriate, such as when there is an opportunity to invest in different securities of the same issuer or where the different investments could be expected to result in a conflict between our interests and those of these other clients, the Investment Advisor and PSCM will need to decide which client will proceed with the investment. These restrictions will limit the scope of investment opportunities that would otherwise be available to us. We, the Investment Advisor and PSCM have been granted exemptive relief from the SEC to permit greater flexibility to negotiate the terms of co-investments if our Board determines that it would be advantageous for us to co-invest with investment funds, accounts and investment vehicles managed by PSCM in a manner consistent with our investment objectives, positions, policies, strategies and restrictions as well as regulatory requirements and other pertinent factors. We believe that co-investment by us and investment funds, accounts and investment vehicles managed by the Investment Advisor and its affiliates, including PSCM, may afford us additional investment opportunities and an ability to achieve greater diversification. Accordingly, our exemptive order permits us to invest with these investment funds, accounts and investment vehicles managed in the same portfolio companies under circumstances in which such investments would otherwise not be permitted by the 1940 Act. Our exemptive relief permitting co-investments applies only if our Independent Directors review and approve each co-investment. The exemptive order imposes other constraints on co-investments that limit the number of instances when we may rely on its protections. Regulations governing our operation as a BDC affect our ability to, and the way in which we, raise additional capital. Regulations governing our operation as a BDC affect our ability to raise, and the way in which we raise, additional capital or borrow for investment purposes, which may have a negative impact on our growth. We may issue debt securities or preferred stock and/or borrow money from banks or other financial institutions, which we refer to collectively as “senior securities,” up to the maximum amount permitted by the 1940 Act. We are generally able to issue senior securities such that our asset coverage, as defined in the 1940 Act, equals at least 150% of gross assets less all liabilities and indebtedness not represented by senior securities, after each issuance of senior securities. If the value of our assets decline, we may be unable to satisfy this test. If that happens, we may be required to sell a portion of our investments at a time when such sales may be disadvantageous to use in order to repay a portion of our indebtedness.
Risks Related to our Investments [Member]
General Description of Registrant [Abstract]
Risk Factors [Table Text Block]	Risks Related to our Investments Economic recessions or downturns could impair our portfolio companies, and defaults by our portfolio companies will harm our operating results. Many of the portfolio companies in which we have invested or expect to make investments are likely to be susceptible to economic slowdowns or recessions and may be unable to repay our loans during such periods. Therefore, the number of our non-performing assets is likely to increase, and the value of our portfolio is likely to decrease during such periods. Adverse economic conditions may decrease the value of collateral securing some of our loans and debt securities and the value of our equity investments. Economic slowdowns or recessions could lead to financial losses in our portfolio and a decrease in revenues, net income and assets. Unfavorable economic conditions also could increase our funding costs, limit our access to the capital markets or result in a decision by lenders not to extend credit to us. These events could prevent us from increasing our investments and harm our operating results. A portfolio company’s failure to satisfy financial or operating covenants imposed by us or other lenders could lead to defaults and, potentially, termination of its loans and foreclosure on its assets, which could trigger cross-defaults under other agreements and jeopardize our portfolio company’s ability to meet its obligations under the loans and debt securities that we hold. We may incur expenses to the extent necessary to seek recovery upon default or to negotiate new terms with a defaulting portfolio company. We may hold the debt securities of leveraged portfolio companies. Portfolio companies may issue certain types of debt, such as senior loans, mezzanine or high yield in connection with leveraged acquisitions or recapitalizations in which the portfolio company incurs a substantially higher amount of indebtedness than the level at which it had previously operated. Leverage may have important consequences to these portfolio companies and us as an investor. For example, the substantial indebtedness of a portfolio company could (i) limit its ability to borrow money for its working capital, capital expenditures, debt service requirements, strategic initiatives or other purposes; (ii) require it to dedicate a substantial portion of its cash flow from operations to the repayment of its indebtedness, thereby reducing funds available to it for other purposes; (iii) make it more highly leveraged than some of its competitors, which may place it at a competitive disadvantage; or (iv) subject it to restrictive financial and operating covenants, which may preclude it from favorable business activities or the financing of future operations or other capital needs. A leveraged portfolio company’s income and net assets will tend to increase or decrease at a greater rate than if borrowed money were not used. In addition, a portfolio company with a leveraged capital structure will be subject to increased exposure to adverse economic factors, such as a significant rise in interest rates, a severe downturn in the economy or deterioration in the condition of that portfolio company or its industry. If a portfolio company is unable to generate sufficient cash flow to meet all of its obligations, it may take alternative measures (e.g., reduce or delay capital expenditures, sell assets, seek additional capital, or seek to restructure, extend or refinance indebtedness). These actions may negatively affect our investment in such a portfolio company. Investment in leveraged companies involves a number of significant risks. Leveraged companies in which we invest may have limited financial resources and may be unable to meet their obligations under their loans and debt securities that we hold. Such developments may be accompanied by a deterioration in the value of any collateral and a reduction in the likelihood of our realizing any guarantees that we may have obtained in connection with our investment. Smaller leveraged companies also may have less predictable operating results and may require substantial additional capital to support their operations, finance their expansion or maintain their competitive position. Our investments in secured loans may nonetheless expose us to losses from default and foreclosure. While we invest in secured loans, they may nonetheless be exposed to losses resulting from default and foreclosure. Therefore, the value of the underlying collateral, the creditworthiness of the borrower and the priority of the lien are each of great importance. We cannot guarantee the adequacy of the protection of our interests, including the validity or enforceability of the loan and the maintenance of the anticipated priority and perfection of the applicable security interests. Furthermore, we cannot assure you that claims may not be asserted that might interfere with enforcement of our rights. In addition, in the event of any default under a secured loan held directly by us, we will bear a risk of loss of principal to the extent of any deficiency between the value of the collateral and the principal and accrued interest of the secured loan, which could have a material adverse effect on our cash flow from operations. In the event of a foreclosure, we may assume direct ownership of the underlying asset. The liquidation proceeds upon sale of such asset may not satisfy the entire outstanding balance of principal and interest on the loan, resulting in a loss to us. Any costs or delays involved in the effectuation of a foreclosure of the loan or a liquidation of the underlying property will further reduce the proceeds and thus increase the loss. Our investments in mezzanine debt and other junior securities are subordinate to senior indebtedness of the applicable company and are subject to greater risk. The mezzanine debt and other junior investments in which we may invest are typically contractually or structurally subordinated to senior indebtedness of the applicable company, or effectively subordinated as a result of being unsecured debt and therefore subject to the prior repayment of secured indebtedness to the extent of the value of the assets pledged as security. In some cases, the subordinated debt held by us may be subject to the prior repayment of different classes of senior debt that may be in priority ahead of the debt held by us. In the event of financial difficulty on the part of a portfolio company, such class or classes of senior indebtedness ranking prior to the debt held by us, and interest thereon and related expenses, must first be repaid in full before any recovery may be had on our mezzanine debt or other subordinated investments. Subordinated investments are characterized by greater credit risks than those associated with the senior or senior secured obligations of the same issuer. In addition, under certain circumstances the holders of the senior indebtedness will have the right to block the payment of interest and principal on our mezzanine debt or other junior investment and to prevent us from pursuing its remedies on account of such non-payment against the issuer. Further, in the event of any debt restructuring or workout of the indebtedness of any issuer, the holders of the senior indebtedness will likely control the creditor side of such negotiations. Many issuers of mezzanine debt or other junior securities are highly leveraged, and their relatively high debt-to-equity ratios create increased risks that their operations might not generate sufficient cash flow to service their debt obligations. In addition, many issuers of mezzanine debt or other junior securities may be in poor financial condition, experiencing poor operating results, having substantial capital needs or negative net worth or be facing special competitive or product obsolescence problems, and may include companies involved in bankruptcy or other reorganizations or liquidation proceedings. Adverse changes in the financial condition of an issuer, general economic conditions, or both, may impair the ability of such issuer to make payments on the subordinated securities and result in defaults on such securities more quickly than in the case of the senior obligations of such issuer. Mezzanine debt and other junior securities may not be publicly traded, and therefore it may be difficult to obtain information as to the true condition of the issuers. Finally, the market values of certain of mezzanine debt and other junior securities may reflect individual corporate developments. Our investments include Covenant-Lite Loans, which give us fewer rights and subject us to greater risk of loss than loans with financial maintenance covenants. A significant number of high yield loans in the market, in particular the broadly syndicated loan market, consist of Covenant-Lite Loans, which are loans that do not require the borrower to maintain debt service or other financial ratios and do not include terms which allow the lender to monitor the performance of the borrower and declare a default if certain criteria are breached. A significant portion of the loans in which we may invest or get exposure to through its investments in CDOs or other types of structured securities are Covenant-Lite Loans and it is possible that such loans may comprise a majority of our portfolio from time to time. Ownership of Covenant-Lite Loans exposes us to different risks, including with respect to liquidity, price volatility, ability to restructure loans, credit risks and less protective loan documentation, than is the case with loans that contain financial maintenance covenants. Generally, Covenant-Lite Loans provide borrower companies more freedom to negatively impact lenders because their covenants are incurrence-based, which means they are only tested and can only be breached following an affirmative action of the borrower, rather than by a deterioration in the borrower’s financial condition. Accordingly, to the extent we invest in Covenant-Lite Loans, we may have fewer rights against a borrower and may have a greater risk of loss on such investments as compared to investments in or exposure to loans with financial maintenance covenants. Our prospective portfolio companies may prepay loans, which may reduce our yields if capital returned cannot be invested in transactions with equal or greater expected yields. The terms of loans we acquire or originate may be subject to early prepayment options or similar provisions which, in each case, could result in us realizing repayments of such loans earlier than expected, sometimes with no or a nominal prepayment premium. This may happen when there is a decline in interest rates, when the portfolio company’s improved credit or operating or financial performance allows the refinancing of certain classes of debt with lower cost debt or when the general credit market conditions improve. Additionally, prepayments could negatively impact our ability to pay, or the amount of, distributions on our common stock, which could result in a decline in the market price of our shares. Our inability to reinvest such proceeds may materially affect the overall performance. We invest in high yield debt, which has greater credit and liquidity risk than more highly rated debt obligations. We invest in high yield debt, a substantial portion of which may be rated below investment-grade by one or more nationally recognized statistical rating organizations or is unrated but of comparable credit quality to obligations rated below investment-grade, and has greater credit and liquidity risk than more highly rated debt obligations. High yield debt is generally unsecured and may be subordinate to other obligations of the obligor. The lower rating of high yield debt reflect a greater possibility that adverse changes in the financial condition of the obligor or in general economic conditions (including, for example, a substantial period of rising interest rates or declining earnings) or both may impair the ability of the obligor to make payment of principal and interest. Many issuers of high yield debt are highly leveraged, and their relatively high debt-to-equity ratios create increased risks that their operations might not generate sufficient cash flow to service their debt obligations. In addition, many issuers of high yield debt may be in poor financial condition, experiencing poor operating results, having substantial capital needs or negative net worth or be facing special competitive or product obsolescence problems, and may include companies involved in bankruptcy or other reorganizations or liquidation proceedings. Certain of these securities may not be publicly traded, and therefore it may be difficult to obtain information as to the true condition of the issuers. Overall declines in the below investment-grade bond and other markets may adversely affect such issuers by inhibiting their ability to refinance their debt at maturity. High yield debt is often less liquid than higher rated securities, and the market for high yield debt has recently experienced periods of volatility. The market values of certain of this high yield debt may reflect individual corporate developments. Our investments in bank loans and financial institutions may be less liquid than our other investments and we may incur greater risk with respect to investments we acquire through assignments or participations of interests. We may invest a portion of our investments in loans originated by banks and other financial institutions. The loans invested in by us may include term loans and revolving loans, may pay interest at a fixed or floating rate and may be senior or subordinated. Purchasers of bank loans are predominantly commercial banks, investment funds and investment banks. As secondary market trading volumes for bank loans increase, new bank loans are frequently adopting standardized documentation to facilitate loan trading, which should improve market liquidity. There can be no assurance, however, that future levels of supply and demand in bank loan trading will provide an adequate degree of liquidity, that the current period of illiquidity will not persist or worsen and that the market will not experience periods of significant illiquidity in the future. In addition, we may make investments in stressed or distressed bank loans, which are often less liquid than performing bank loans. Compared to securities and to certain other types of financial assets, purchases and sales of loans take relatively longer to settle. This extended settlement process can (i) increase the counterparty credit risk borne by us; (ii) leave us unable to timely vote, or otherwise act with respect to, loans we have agreed to purchase; (iii) delay us from realizing the proceeds of a sale of a loan; (iv) inhibit our ability to re-sell a loan that it has agreed to purchase if conditions change (leaving us more exposed to price fluctuations); (v) prevent us from timely collecting principal and interest payments; and (vi) expose us to adverse tax or regulatory consequences. To the extent the extended loan settlement process gives rise to short-term liquidity needs, we may hold cash, sell investments or temporarily borrow from banks or other lenders. In certain circumstances, loans may not be deemed to be securities, and in the event of fraud or misrepresentation by a borrower or an arranger, lenders will not have the protection of the anti-fraud provisions of the federal securities laws, as would be the case for bonds or stocks. Instead, in such cases, lenders generally rely on the contractual provisions in the loan agreement itself, and common-law fraud protections under applicable state law. We may acquire interests in bank loans either directly (by way of sale or assignment) or indirectly (by way of participation). The purchaser of an assignment typically succeeds to all the rights and obligations of the assigning institution and becomes a lender under the credit agreement with respect to the debt obligation; however, its rights can be more restricted than those of the assigning institution. Participation interests in a portion of a debt obligation typically result in a contractual relationship only with the institution participating out the interest, and not with the borrower. In purchasing participations, we generally will have no right to enforce compliance by the borrower with the terms of the loan agreement, nor any rights of set-off against the borrower, and we may not directly benefit from the collateral supporting the debt obligation in which it has purchased the participation. As a result, we will assume the credit risk of both the borrower and the institution selling the participation. The bank loans acquired by us are likely to be below investment-grade. We invest in structured products and such investments may involve significant risks. We invest, to a limited extent, in structured products, which may include CDOs, CLOs (including the equity tranches thereof), structured notes, and credit-linked notes. These investment entities may be structured as trusts or other types of pooled investment vehicles. They may also involve the deposit with or purchase by an entity of the underlying investments and the issuance by that entity of one or more classes of securities backed by, or representing interests in, the underlying investments or referencing an indicator related to such investments. CDOs and CLOs are types of asset-backed securities issued by special purpose vehicles created to reapportion the risk and return characteristics of a pool of assets. The underlying pool for a CLO, for example, may include domestic and foreign senior loans, senior unsecured loans, and subordinate corporate loans. Generally, these are not qualified as eligible portfolio companies. Investments in the equity tranche or any similarly situated tranche of a structured product involve a greater degree of risk than investments in other tranches, and such investments will be the first to bear losses incurred by a structured product. Our CLO investments are typically highly levered and subject to a higher degree of risk of total loss. CLO vehicles that we invest in are typically very highly levered, and therefore, the junior debt and equity tranches that we invest in are subject to a higher degree of risk of total loss. We will generally have the right to receive payments only from the CLO vehicles, and will generally not have direct rights against the underlying borrowers or the entity that sponsored the CLO vehicle. The failure by a CLO vehicle in which we invest to satisfy certain financial covenants, specifically those with respect to adequate collateralization and/or interest coverage tests, could lead to a reduction in its payments to us. In the event that a CLO vehicle failed those tests, holders of debt senior to us may be entitled to additional payments that would, in turn, reduce the payments we would otherwise be entitled to receive. If any of these occur, it could materially and adversely affect our operating results and cash flows. In addition to the general risks associated with investing in debt securities, CLO vehicles carry additional risks, including: (i) the possibility that distributions from collateral securities will not be adequate to make interest or other payments; (ii) the quality of the collateral may decline in value or default; (iii) the fact that our investments in CLO tranches will likely be subordinate to other senior classes of note tranches thereof; and (iv) the complex structure of the security may not be fully understood at the time of investment and may produce disputes with the CLO vehicle or unexpected investment results. Our net asset value may also decline over time if our principal recovery with respect to CLO equity investments is less than the price we paid for those investments. Investments in structured vehicles, including equity and junior debt instruments issued by CLO vehicles, involve risks, including credit risk and market risk. Changes in interest rates and credit quality may cause significant price fluctuations. Additionally, changes in the underlying leveraged corporate loans held by a CLO vehicle may cause payments on the instruments we hold to be reduced, either temporarily or permanently. Structured investments, particularly the subordinated interests in which we intend to invest, may be less liquid than many other types of securities and may be more volatile than the leveraged corporate loans underlying the CLO vehicles we intend to target. Fluctuations in interest rates may also cause payments on the tranches of CLO vehicles that we hold to be reduced, either temporarily or permanently. The accounting and tax implications of such investments are complicated. In particular, reported earnings from the equity tranche investments of these CLO vehicles are recorded under generally accepted accounting principles based upon an effective yield calculation. Current taxable earnings on these investments, however, will generally not be determinable until after the end of the fiscal year of each individual CLO vehicle that ends within our fiscal year, even though the investments are generating cash flow. In general, the tax treatment of these investments may result in higher distributable earnings in the early years and a capital loss at maturity, while for reporting purposes the totality of cash flows are reflected in a constant yield to maturity. Interests we acquire in CLO vehicles will likely be thinly traded or have only a limited trading market and may be subject to restrictions on resale. Securities issued by CLO vehicles are generally not listed on any U.S. national securities exchange and no active trading market may exist for the securities of CLO vehicles in which we may invest. Although a secondary market may exist for our investments in CLO vehicles, the market for our investments in CLO vehicles may be subject to irregular trading activity, wide bid/ask spreads and extended trade settlement periods. As a result, these types of investments may be more difficult to value. We may be subject to lender liability and equitable subordination. In recent years, a number of judicial decisions in the United States have upheld the right of borrowers to sue lending institutions on the basis of various evolving legal theories (collectively termed “lender liability”). Generally, lender liability is founded upon the premise that an institutional lender has violated a duty (whether implied or contractual) of good faith and fair dealing owed to the borrower or has assumed a degree of control over the borrower resulting in creation of a fiduciary duty owed to the borrower or its other creditors or stockholders. Because of the nature of certain of our investments, we could be subject to allegations of lender liability. In addition, under common law principles that in some cases form the basis for lender liability claims, if a lending institution (i) intentionally takes an action that results in the undercapitalization of a borrower to the detriment of other creditors of such borrower, (ii) engages in other inequitable conduct to the detriment of such other creditors, (iii) engages in fraud with respect to, or makes misrepresentations to, such other creditors or (iv) uses its influence as a stockholder to dominate or control a borrower to the detriment of the other creditors of such borrower, a court may elect to subordinate the claim of the offending lending institution to the claims of the disadvantaged creditor or creditors, a remedy called “equitable subordination.” Because of the nature of certain of our investments, we could be subject to claims from creditors of an obligor that our investments issued by such obligor should be equitably subordinated. A significant number of our investments will involve investments in which we will not be the lead creditor. It is, accordingly, possible that lender liability or equitable subordination claims affecting our investments could arise without our direct involvement. If we purchase debt securities of an affiliate of a portfolio company in the secondary market at a discount, (i) a court might require us to disgorge profit it realizes if the opportunity to purchase such securities at a discount should have been made available to the issuer of such securities or (ii) we might be prevented from enforcing such securities at their full face value if the issuer of such securities becomes bankrupt. Our failure to make follow-on investments in our portfolio companies could impair the value of our portfolio. Following an initial investment in a portfolio company, we may decide to provide additional funds to such portfolio company, in order to: ● increase or maintain in whole or in part our position as a creditor or equity ownership percentage in a portfolio company; ● exercise warrants, options or convertible securities that were acquired in the original or subsequent financing; or ● attempt to preserve or enhance the value of our investment. There is no assurance that we will make follow-on investments or that we will have sufficient funds to make all or any of such investments. Even if we have sufficient capital to make a desired follow-on investment, we may elect not to make a follow-on investment because we may not want to increase our concentration of risk, because we prefer other opportunities or because we are restricted by compliance with BDC requirements of the 1940 Act or the desire to maintain our qualification as a RIC. Any decision by us not to make follow-on investments or our inability to make such investments may have a substantial adverse effect on a portfolio company in need of such an investment. Additionally, a failure to make such investments may result in a lost opportunity for us to increase our participation in a successful portfolio company or the dilution of our ownership in a portfolio company if a third party invests in the portfolio company. Our portfolio may include equity investments, which are subordinated to debt investments and are subject to additional risks. We expect to make select equity investments in the common or preferred stock of a company, all of which are subordinated to debt investments. In addition, when we invest in first lien secured debt, second lien secured debt or subordinated debt, we may acquire warrants to purchase equity investments from time to time. Our goal is ultimately to dispose of these equity investments and realize gains upon our disposition of such interests. However, the equity investments we receive may not appreciate in value and, in fact, may decline in value. Accordingly, we may not be able to realize gains from our equity investments, and any gains that we do realize on the disposition of any equity investments may not be sufficient to offset any other losses we experience. In addition, many of the equity securities in which we invest may not pay dividends on a regular basis, if at all. The lack of liquidity in our investments may adversely affect our businesses. We may acquire a significant percentage of our portfolio company investments from privately held companies in directly negotiated transactions. The lack of an established, liquid secondary market for some of our investments may have an adverse effect on the market value of our investments and on our ability to dispose of them. Additionally, our investments may be subject to certain transfer restrictions that may also contribute to illiquidity. Further, our assets that are typically traded in a liquid market may become illiquid due to events relating to the issuer, market events, economic conditions or investor perceptions. Therefore, no assurance can be given that, if we are determined to dispose of a particular investment held by us, it could dispose of such investment at the prevailing market price. Because we generally do not hold controlling equity interests in our portfolio companies, we generally will not be able to exercise control over our portfolio companies or to prevent decisions by management of our portfolio companies that could decrease the value of our investments. We do not generally intend to hold controlling equity positions in our portfolio companies. As a result, we will be subject to the risk that a portfolio company may make business decisions with which we disagree, and that the management and/or stockholders of a portfolio company may take risks or otherwise act in ways that are adverse to our interests. Due to the potential lack of liquidity of the debt and equity investments that we hold in our portfolio companies, we may not be able to dispose of our investments in the event we disagree with the actions of a portfolio company and may therefore suffer a decrease in the value of our investments. In addition, we may not be in a position to control any portfolio company by investing in its debt securities. As a result, we are subject to the risk that a portfolio company may make business decisions with which we disagree and the management of such company, as representatives of the holders of their common equity, may take risks or otherwise act in ways that do not serve our interests as debt investors. Our portfolio companies could incur debt that ranks equally with, or senior to, our investments in such companies and such portfolio companies could fail to generate sufficient cash flow to service their debt obligations to us. The characterization of certain of our investments as senior debt or senior secured debt does not mean that such debt will necessarily be repaid in priority to all other obligations of the businesses in which we invest. Furthermore, debt and other liabilities incurred by non-guarantor subsidiaries of the borrowers of senior secured loans made by us may be structurally senior to the debt held by us. In the event of insolvency, liquidation, dissolution, reorganization or bankruptcy of a portfolio company, the debt and other liabilities of such subsidiaries could be repaid in full before any distribution can be made to an obligor of the senior secured loans held by us. Finally, portfolio companies will typically incur trade credit and other liabilities or indebtedness, which by their terms may provide that their holders are entitled to receive principal payments on or before the dates payments are due in respect of the senior secured loans held by us. Where we hold a first lien to secure senior indebtedness, the portfolio companies may be permitted to issue other senior loans with liens that rank junior to the first liens granted to us. The intercreditor rights of the holders of such other junior lien debt may, in any liquidation, reorganization, insolvency, dissolution or bankruptcy of such a portfolio company, affect the recovery that we would have been able to achieve in the absence of such other debt. Additionally, certain loans that we may make to portfolio companies may be secured on a second priority basis by the same collateral securing senior secured debt of such companies. The first priority liens on the collateral will secure the portfolio company’s obligations under any outstanding senior debt and may secure certain other future debt that may be permitted to be incurred by the portfolio company under the agreements governing the loans. The holders of obligations secured by first priority liens on the collateral will generally control the liquidation of, and be entitled to receive proceeds from, any realization of the collateral to repay their obligations in full before us. In addition, the value of the collateral in the event of liquidation will depend on market and economic conditions, the availability of buyers and other factors. There can be no assurance that the proceeds, if any, from sales of all of the collateral would be sufficient to satisfy the loan obligations secured by the second priority liens after payment in full of all obligations secured by the first priority liens on the collateral. If such proceeds were not sufficient to repay amounts outstanding under the loan obligations secured by the second priority liens, then we, to the extent not repaid from the proceeds of the sale of the collateral, will only have an unsecured claim against the portfolio company’s remaining assets, if any. Even where the senior loans held by us are secured by a perfected lien over a substantial portion of the assets of a portfolio company and its subsidiaries, the portfolio company and its subsidiaries will often be able to incur a substantial amount of additional indebtedness, which may have an exclusive lien over particular a
Federal Income Tax and Other Tax Risks [Member]
General Description of Registrant [Abstract]
Risk Factors [Table Text Block]	Federal Income Tax and Other Tax Risks We will be subject to corporate-level income tax if we are unable to qualify as a RIC. In order to qualify and be subject to tax as a RIC under the Code, we must be a BDC at all times during each taxable year and meet certain source-of-income, asset diversification and distribution requirements. If we do not maintain our status as a BDC, we may fail to qualify as a RIC and, thus, may be subject to corporate-level income tax. The distribution requirement for a RIC is satisfied if we distribute dividends in respect of each taxable year of an amount generally at least equal to 90% of our investment company taxable income, determined without regard to any deduction for dividends paid, to our stockholders. We are subject to certain asset coverage ratio requirements under the 1940 Act and financial covenants under loan and credit agreements that could, under certain circumstances, restrict us from making distributions necessary to enable us to be subject to tax as a RIC. If we are unable to obtain cash from other sources, we may fail to be subject to tax as a RIC and, thus, may be subject to corporate-level income tax. To qualify to be subject to tax as a RIC, we must also meet certain asset diversification requirements at the end of each quarter of our taxable year. Failure to meet these tests may result in our having to dispose of certain investments quickly in order to satisfy these requirements. Because most of our investments will be in private or thinly traded public companies, any such dispositions could be made at disadvantageous prices and may result in substantial losses. If we fail to qualify to be subject to tax as a RIC for any reason and become subject to corporate income tax, the resulting corporate taxes could substantially reduce our net assets, the amount of income available for distributions to our stockholders and the amount of funds available for new investments. Such a failure would have a material adverse effect on us and our stockholders. We may have difficulty paying our required distributions if we recognize income before, or without, receiving cash representing such income. For U.S. federal income tax purposes, we will include in income certain amounts that we have not yet received in cash, such as the accretion of OID. This may arise if we receive warrants in connection with the making of a loan and in other circumstances, or through contracted PIK interest, which represents contractual interest added to the loan balance and due at the end of the loan term. Such OID, which could be significant relative to our overall investment activities, or increases in loan balances as a result of contracted PIK arrangements, will be included in income before we receive any corresponding cash payments. We also may be required to include in income certain other amounts that we will not receive in cash. Since in certain cases we may recognize income before or without receiving cash representing such income, we may have difficulty meeting the requirement in a given taxable year to distribute at least 90% of our investment company taxable income, determined without regard to any deduction for dividends paid, as dividends to our stockholders in order to be subject to tax as a RIC. In such a case, we may have to sell some of our investments at times we would not consider advantageous, raise additional debt or equity capital or reduce new investment originations to meet these distribution requirements. If we are not able to obtain such cash from other sources, we may fail to be subject to tax as a RIC and thus be subject to corporate-level income tax. We may be required to withhold U.S. federal income tax on distributions to non-U.S. stockholders. Distributions by a BDC generally are treated as dividends for U.S. tax purposes, and will be subject to U.S. income or withholding tax unless the stockholder receiving the dividend qualifies for an exemption from U.S. tax, or the distribution is subject to one of the special look-through rules described below. Distributions paid out of net capital gains can qualify for a reduced rate of taxation in the hands of an individual U.S. stockholder, and an exemption from U.S. tax in the hands of a non-U.S. stockholder. However, if reported by a RIC, dividend distributions by the RIC derived from certain interest income (such distributions, “interest-related dividends”) and certain net short-term capital gains (such distributions, “short-term capital gain dividends”) generally are exempt from U.S. withholding tax otherwise imposed on non-U.S. stockholders. Interest-related dividends are dividends that are attributable to “qualified net interest income” (i.e., “qualified interest income,” which generally consists of certain interest and OID on obligations “in registered form” as well as interest on bank deposits earned by a RIC, less allocable deductions) from sources within the United States. Short-term capital gain dividends are dividends that are attributable to net short-term capital gains, other than short-term capital gains recognized on the disposition of U.S. real property interests, earned by a RIC. However, no assurance can be given as to whether any of our distributions will be eligible for this exemption from U.S. withholding tax or, if eligible, will be reported as such by us. Furthermore, in the case of shares of our stock held through an intermediary, the intermediary may have withheld U.S. federal income tax even if we reported the payment as an interest-related dividend or short-term capital gain dividend. Since our common stock will be subject to significant transfer restrictions, and an investment in our common stock will generally be illiquid, non-U.S. stockholders whose distributions on our common stock are subject to U.S. withholding tax may not be able to transfer their shares of our common stock easily or quickly or at all. A failure of any portion of our distributions to qualify for the exemption for interest-related dividends or short-term capital gain dividends would not affect the treatment of non-U.S. stockholders that qualify for an exemption from U.S. withholding tax on dividends by reason of their special status (for example, foreign government-related entities and certain pension funds resident in favorable treaty jurisdictions). Our business may be adversely affected if we fail to maintain our qualification as a RIC. To maintain RIC tax treatment under the Code, we must be a BDC at all times during each taxable year and meet the following minimum annual distribution, income source and asset diversification requirements. The minimum annual distribution requirement for a RIC will be satisfied if we distribute dividends to our stockholders in respect of each taxable year of an amount generally at least equal to 90% of our investment company taxable income, determined without regard to any deduction for dividends paid. In this regard, a RIC may, in certain cases, satisfy the 90% distribution requirement by distributing dividends relating to a taxable year after the close of such taxable year under the “spillback dividend” provisions of Subchapter M of the Code. We would be taxed, at regular corporate rates, on any retained income and/or gains, including any short-term capital gains or long-term capital gains. We must also satisfy an additional annual distribution requirement with respect to each calendar year in order to avoid a 4% excise tax on the amount of any under-distribution. Because we may use debt financing, we are subject to (i) an asset coverage ratio requirement under the 1940 Act and may, in the future, be subject to (ii) certain financial covenants under loan and credit agreements that could, under certain circumstances, restrict us from making distributions necessary to satisfy the distribution requirements. If we are unable to obtain cash from other sources, or chose or be required to retain a portion of our taxable income or gains, we could (1) be required to pay excise tax and (2) fail to qualify for RIC tax treatment, and thus become subject to corporate-level income tax on our taxable income (including gains). The income source requirement will be satisfied if we obtain at least 90% of our gross income each taxable year from dividends, interest, gains from the sale of stock or securities, or other income derived from the business of investing in stock or securities. The asset diversification requirement will be satisfied if we meet certain asset diversification requirements at the end of each quarter of our taxable year. To satisfy this requirement, at least 50% of the value of our assets at the close of each quarter of each taxable year must consist of cash, cash equivalents (including receivables), U.S. Government securities, securities of other RICs, and other acceptable securities; and no more than 25% of the value of our assets can be invested in the securities, other than U.S. government securities or securities of other RICs, of one issuer, of two or more issuers that are controlled, as determined under applicable Code rules, by us and that are engaged in the same or similar or related trades or businesses or of certain “qualified publicly traded partnerships.” Failure to meet these requirements may result in our having to dispose of certain investments quickly in order to prevent the loss of RIC status. Because a significant portion of our investments will be in private companies, and therefore may be relatively illiquid, any such dispositions could be made at disadvantageous prices and could result in substantial losses. We may invest in certain debt and equity investments through taxable subsidiaries and the net taxable income of these taxable subsidiaries will be subject to federal and state corporate income taxes. We also may invest in certain foreign debt and equity investments which could be subject to foreign taxes (such as income tax, withholding, and value added taxes). If we fail to qualify for or maintain RIC tax treatment for any reason and are subject to corporate income tax, the resulting corporate taxes could substantially reduce our net assets, the amount of income available for distribution, and the amount of our distributions. There is a risk that you may not receive distributions or that our distributions may not grow over time and a portion of our distributions may be a return of capital. We intend to make distributions on a quarterly basis to our stockholders out of assets legally available for distribution. We cannot assure you that we will achieve investment results that will allow us to make a specified level of cash distributions or year-to-year increases in cash distributions. Our ability to pay distributions might be adversely affected by the impact of one or more of the risk factors described in this Annual Report. Due to the asset coverage test applicable to us under the 1940 Act as a BDC and certain limitations under Maryland law, we may be limited in our ability to make distributions. In addition, if we violate certain covenants under our credit facilities, or any future credit or other borrowing facility, our ability to pay distributions to our stockholders could be limited because we may be required by its terms to use all payments of interest and principal that we receive from our current investments as well as any proceeds received from the sale of our current investments to repay amounts outstanding thereunder. Furthermore, the tax treatment and characterization of our distributions may vary significantly from time to time due to the nature of our investments. The ultimate tax characterization of our distributions made during a taxable year may not finally be determined until after the end of that taxable year. We may make distributions during a taxable year that exceed our investment company taxable income and net capital gains for that taxable year. In such a situation, the amount by which our total distributions exceed investment company taxable income and net capital gains generally would be treated as a return of capital up to the amount of a stockholder’s tax basis in the shares, with any amounts exceeding such tax basis treated as a gain from the sale or exchange of such shares. A return of capital generally is a return of a stockholder’s investment rather than a return of earnings or gains derived from our investment activities. Moreover, we may pay all or a substantial portion of our distributions from the proceeds of the sale of shares of our common stock or from borrowings in anticipation of future cash flow, which could constitute a return of stockholders’ capital and will lower such stockholders’ tax basis in our shares, which may result in increased tax liability to stockholders when they sell such shares.
General Risk Factors [Member]
General Description of Registrant [Abstract]
Risk Factors [Table Text Block]	General Risk Factors Global capital markets could enter a period of severe disruption and instability. These conditions have historically affected and could again materially and adversely affect debt and equity capital markets in the United States and around the world and our business. The U.S. and global capital markets have, from time to time, experienced periods of disruption characterized by the freezing of available credit, a lack of liquidity in the debt capital markets, significant losses in the principal value of investments, the re-pricing of credit risk in the broadly syndicated credit market, the failure of major financial institutions and general volatility in the financial markets. During these periods of disruption, general economic conditions deteriorated with material and adverse consequences for the broader financial and credit markets, and the availability of debt and equity capital for the market as a whole, and financial services firms in particular, was reduced significantly. These conditions may reoccur for a prolonged period of time or materially worsen in the future. We may in the future have difficulty accessing debt and equity capital markets, and a severe disruption in the global financial markets, deterioration in credit and financing conditions, uncertainty between the United States and other countries with respect to trade policies, or uncertainty regarding U.S. government spending and deficit levels or other global economic and political conditions, including future recessions, political instability, geopolitical turmoil and foreign hostilities, and disease, pandemics and other serious health events, could have a material adverse effect on our business, financial condition and results of operations. Inflation may adversely affect the business, results of operations and financial condition of our portfolio companies. Certain of our portfolio companies are in industries that may be impacted by inflation. If such portfolio companies are unable to pass any increases in their costs of operations along to their customers, it could adversely affect their operating results and impact their ability to pay interest and principal on our loans, particularly if interest rates rise in response to inflation. In addition, any projected future decreases in our portfolio companies’ operating results due to inflation could adversely impact the fair value of those investments. Any decreases in the fair value of our investments could result in future realized or unrealized losses and therefore reduce our net increase (decrease) in net assets resulting from operations. Events outside of our control, including public health crises, could negatively affect our portfolio companies, our Investment Advisor and the results of our operations. Periods of market volatility could continue to occur in response to pandemics or other events outside of our control. We, the Investment Advisor, and the portfolio companies in which we invest in could be affected by force majeure events (i.e., events beyond the control of the party claiming that the event has occurred, such as acts of God, fire, flood, earthquakes, outbreaks of an infectious disease, pandemic or any other serious public health concern, acts of war, terrorism, labor strikes, major plant breakdowns, pipeline or electricity line ruptures, failure of technology, defective design and construction, accidents, demographic changes, government macroeconomic policies, social instability, etc.). Some force majeure events could adversely affect the ability of a party (including us, the Investment Advisor, a portfolio company or a counterparty to us, the Investment Advisor, or a portfolio company) to perform its obligations until it is able to remedy the force majeure event or could lead to the unavailability of essential equipment and technologies. These risks could, among other effects, adversely impact the cash flows available from a portfolio company, damage property, cause personal injury or loss of life, or instigate disruptions of service. Certain events causing catastrophic loss could be either uninsurable, or insurable at such high rates as to adversely impact us, the Investment Advisor, or our portfolio companies, as applicable, and insurance proceeds received, if any, could be inadequate to completely or even partially cover any loss of revenues or investments, any increases in operating and maintenance expenses, or any replacements or rehabilitation of property. Force majeure events that are incapable of or are too costly to cure could have permanent adverse effects. In addition, certain force majeure events (such as events of war or an outbreak of an infectious disease, such as the global outbreak of COVID-19) could have a broader negative impact on the world economy and international business activity generally, or in any of the countries in which we invest or in which our portfolio companies operate. Such force majeure events could result in or coincide with: increased volatility in the global securities, derivatives and currency markets; a decrease in the reliability of market prices and difficulty in valuing assets; greater fluctuations in currency exchange rates; increased risk of default (by both government and private issuers); further social, economic, and political instability; nationalization of private enterprise; greater governmental involvement in the economy or in social factors that impact the economy; less governmental regulation and supervision of the securities markets and market participants and decreased monitoring of the markets by governments or self-regulatory organizations and reduced enforcement of regulations; limited, or limitations on, the activities of investors in such markets; controls or restrictions on foreign investment, capital controls and limitations on repatriation of invested capital; inability to purchase and sell investments or otherwise settle security or derivative transactions (i.e., a market freeze); unavailability of currency hedging techniques; substantial, and in some periods extremely high, rates of inflation, which can last many years and have substantial negative effects on credit and securities markets as well as the economy as a whole; recessions; and difficulties in obtaining and/or enforcing legal judgments. Additionally, a major governmental intervention into industry, including the nationalization of an industry or the assertion of control over one or more portfolio companies or its assets, could result in a loss to us, including if the investment in such portfolio companies is canceled, unwound or acquired (which could result in inadequate compensation). Any of the foregoing could therefore have an adverse effect on our business and results of operations. Global economic, political and market conditions, including downgrades of the U.S. credit rating, may adversely affect our business, results of operations and financial condition. The current global financial market situation, as well as various social and political tensions in the United States and around the world (including the bilateral relationship between the U.S. and China, the conflict in the Red Sea and the conflict between Russia and Ukraine), may contribute to increased market volatility, may have long-term effects on the United States and worldwide financial markets and may cause economic uncertainties or deterioration in the U.S. and worldwide. The impact of downgrades by rating agencies to the U.S. government’s sovereign credit rating or its perceived creditworthiness as well as potential government shutdowns and uncertainty surrounding transfers of power could adversely affect the U.S. and global financial markets and economic conditions. The Russian invasion of Ukraine may have a material adverse impact on us and our portfolio companies. The conflict between Russia and Ukraine could lead to disruption, instability and volatility in global markets, economies and industries that could negatively impact our business, results of operations and financial condition. The conflict has already resulted in significant volatility in certain equity, debt and currency markets, material increases in certain commodity prices, and economic uncertainty. The conflict may escalate and its resolution is unclear. The U.S. government and other governments have imposed severe sanctions against Russia and Russian interests and threatened additional sanctions and controls. Sanctions and export control laws and regulations are complex, frequently changing, and increasing in number, and they may impose additional legal compliance costs or business risks associated with our operations. New or modified laws or regulations governing our operations could adversely affect our business. We and our portfolio companies will be subject to regulation by laws at the U.S. federal, state and local levels. These laws and regulations, as well as their interpretation, may change from time to time, and new laws, regulations and interpretations may also come into effect. Any such new or changed laws or regulations could have a material adverse effect on our business. Recent strain on the banking system may adversely impact us. The financial markets recently have encountered volatility associated with concerns about the balance sheets of banks, especially small and regional banks who may have significant losses associated with investments that make it difficult to fund demands to withdraw deposits and other liquidity needs. Although the federal government has announced measures to assist these banks and protect depositors, some banks have already been impacted and others may be materially and adversely impacted. A significant adverse development with one or more national or regional banks, financial institutions or other participants in the financial or capital markets may spread to others and lead to significant concentrated or market-wide problems (such as defaults, liquidity problems, impairment charges, additional bank runs and/or losses) for other participants in these markets. Future developments, including actions taken by the U.S. Department of Treasury, Federal Deposit Insurance Corporation (“FDIC”) and Federal Reserve Board, and systemic risk in the U.S. and global banking sectors and broader economies in general, are difficult to assess and quantify, and the form and magnitude of such developments or other actions could have an adverse effect on our business, financial condition and results of operations. For example, in response to the rapidly declining financial condition of regional banks Silicon Valley Bank (“SVB”) and Signature Bank (“Signature”), the California Department of Financial Protection and Innovation (the “CDFPI”) and the New York State Department of Financial Services (the “NYSDFS”) closed SVB and Signature on March 10, 2023 and March 12, 2023, respectively, and the FDIC was appointed as receiver for SVB and Signature. Although the U.S. Department of the Treasury, the Federal Reserve and the FDIC have taken measures to stabilize the financial system, uncertainty and liquidity concerns in the broader financial services industry remain. Additionally, should there be additional systemic pressure on the financial system and capital markets, we cannot assure you of the response of any government or regulator, and any response may not be as favorable to industry participants as the measures currently being pursued. In addition, highly publicized issues related to the U.S. and global capital markets in the past have led to significant and widespread investor concerns over the integrity of the capital markets. The situation related to SVB and Signature could in the future lead to further rules and regulations for public companies, banks, financial institutions and other participants in the U.S. and global capital markets, and complying with the requirements of any such rules or regulations may be burdensome. Even if not adopted, evaluating and responding to any such proposed rules or regulations could results in increased costs and require significant attention from the Investment Advisor.
Risks Relating to Our Common Stock [Member]
General Description of Registrant [Abstract]
Risk Factors [Table Text Block]	Risks Relating to Our Common Stock Investing in our common stock involves an above average degree of risk. The investments we make in accordance with our investment objectives may result in a higher amount of risk than alternative investment options and a higher risk of volatility or loss of principal. Therefore, an investment in shares of our common stock may not be suitable for someone with lower risk tolerance. In addition, our common stock is intended for long-term investors who can accept the risks of investing primarily in illiquid loans and other debt or debt-like instruments and should not be treated as a trading vehicle. The market price of our common stock may fluctuate significantly. We currently list our common stock on the NYSE under the symbol “PSBD.” The market price and liquidity of the market for shares of our common stock may be significantly affected by numerous factors, some of which are beyond our control and may not be directly related to our operating performance. These factors include: ● significant volatility in the market price and trading volume of securities of BDCs or other companies in our sector, which are not necessarily related to the operating performance of these companies; ● price and volume fluctuations in the overall stock market from time to time; ● the inclusion or exclusion of our stock from certain indices; ● changes in regulatory policies or tax guidelines, particularly with respect to RICs or BDCs; ● any loss of RIC or BDC status; ● changes in earnings or perceived changes or variations in operating results; ● changes or perceived changes in the value of our portfolio of investments; ● changes in accounting guidelines governing valuation of our investments; ● any shortfall in revenue or net income or any increase in losses from levels expected by investors or securities analysts; ● the inability of our Investment Advisor to employ additional experienced investment professionals or the departure of any of our Investment Advisor’s key personnel; ● short-selling pressure with respect to shares of our common stock or BDCs generally; ● future sales of our securities convertible into or exchangeable or exercisable for our common stock or the conversion of such securities; ● uncertainty surrounding the strength of the U.S. economy; ● operating performance of companies comparable to us; ● general economic trends and other external factors; and ● loss of a major funding source. In the past, following periods of volatility in the market price of a company’s securities, securities class action litigation has often been brought against that company. If our stock price fluctuates significantly, we may be the target of securities litigation in the future. Securities litigation could result in substantial costs and divert management’s attention and resources from our business. We cannot assure you that a market for shares of our common stock will be maintained or the market price of our shares will trade close to NAV. We cannot assure you that a trading market for our common stock can be sustained. In addition, we cannot predict the prices at which our common stock will trade, whether at, above or below NAV. Shares of closed-end investment companies, including BDCs, frequently trade at a discount from NAV, and our common stock may also be discounted in the market. This characteristic of closed-end investment companies is separate and distinct from the risk that our NAV per share may decline. In addition, if our common stock trades below its NAV, we will generally not be able to sell additional shares of our common stock to the public at its market price without, among other things, the requisite stockholders’ approval of such a sale. Sales of substantial amounts of our common stock in the public market may have an adverse effect on the market price of our common stock. Subsequent to the IPO, we have 32,552,794 shares of common stock outstanding. Sales of substantial amounts of our common stock, or the availability of such shares for sale, could adversely affect the prevailing market prices for our common stock. If this occurs and continues, it could impair our ability to raise additional capital through the sale of equity securities should we desire to do so. Purchases of shares of our common stock by us under our open market repurchase program, including the Company Rule 10b5-1 Stock Repurchase Plan, and by PSCM, including through the PSCM Rule 10b5-1 Stock Purchase Plan, may result in the price of shares of our common stock being higher than the price that otherwise might exist in the open market. Our Board authorized us to repurchase shares of our common stock through an open-market share repurchase program for up to $20 million in the aggregate of shares of our common stock through 12 months from the date of the IPO. Pursuant to such authorization and concurrently with the closing of the IPO, we entered into the Company Rule 10b5-1 Stock Repurchase Plan to acquire up to $15 million in the aggregate of shares of our common stock, in accordance with the guidelines specified in Rule 10b-18 and Rule 10b5-1 of the Exchange Act. In addition, PSCM will purchase up to $5 million in the aggregate of shares of our common stock in the open market within one year of the date of the IPO. Concurrently with the closing of the IPO, PSCM entered into the PSCM Rule 10b5-1 Stock Purchase Plan to permit the purchase of up to $2.5 million of our shares of common stock in connection with its purchase commitment. These activities may have the effect of maintaining the market price of shares of our common stock or retarding a decline in the market price of the shares of our common stock, and, as a result, the price of our shares of common stock may be higher than the price that otherwise might exist in the open market. We may in the future determine to issue preferred stock, which could adversely affect the market value of our common stock. The issuance of shares of preferred stock with dividend or conversion rights, liquidation preferences or other economic terms more favorable to the holders of preferred stock than to our common stockholders could adversely affect the market price for our common stock by making an investment in the common stock less attractive. In addition, the dividends on any preferred stock we issue must be cumulative. Payment of dividends and repayment of the liquidation preference of preferred stock must take preference over any distributions or other payments to our common stockholders, and holders of preferred stock are not subject to any of our expenses or losses and are not entitled to participate in any income or appreciation in excess of their stated preference (other than convertible preferred stock that converts into common stock). In addition, under the 1940 Act, participating preferred stock and preferred stock constitutes a “senior security” for purposes of the asset coverage test. Provisions of the Maryland General Corporation Law and of our charter and bylaws could deter takeover attempts and have an adverse impact on the price of our common stock. The Maryland General Corporation Law, our charter and our bylaws contain provisions that may discourage, delay or make more difficult a change in control or the removal of our directors. We are subject to Subtitle 6 of Title 3 of the Maryland General Corporate Law, the Maryland Business Combination Act, subject to any applicable requirements of the 1940 Act. Our Board has adopted a resolution exempting from the Business Combination Act any business combination between us and any other person, subject to prior approval of such business combination by our Board, including approval by a majority of our independent directors. If the resolution exempting business combinations is repealed or our Board does not approve a business combination, the Business Combination Act may discourage third parties from trying to acquire control of us and increase the difficulty of consummating such an offer. We are subject to Subtitle 7 of Title 3 of the Maryland General Corporate Law, the Maryland Control Share Acquisition Act. Our bylaws exempt from the Maryland Control Share Acquisition Act acquisitions of our common stock by any person. If we amend our bylaws to repeal the exemption from the Control Share Acquisition Act, the Control Share Acquisition Act also may make it more difficult for a third party to obtain control of us and increase the difficulty of consummating such an offer. We intend to give the SEC prior notice should our Board elect to amend our bylaws to repeal the exemption from the Control Share Acquisition Act. We have also adopted other measures that may make it difficult for a third party to obtain control of us, including provisions of our charter classifying our Board in three classes serving staggered three-year terms, and provisions of our charter authorizing our Board to classify or reclassify shares of our stock in one or more classes or series, to cause the issuance of additional shares of our stock, and to amend our charter, without stockholder approval, to increase or decrease the number of shares of stock that we have authority to issue. These provisions, as well as other provisions of our charter and bylaws, may delay, defer or prevent a transaction or a change in control that might otherwise be in the best interests of our stockholders.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	12 Months Ended
	Dec. 31, 2023
Significant Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements. Actual results could differ from those estimates.
Indemnifications	Indemnifications In the normal course of business, the Company enters into contracts that contain a variety of representations which provide general indemnifications. The Company’s maximum exposure under these arrangements cannot be known; however, the Company expects any risk of loss to be remote.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash is comprised of cash on deposit with major financial institutions. Cash equivalents consist of highly liquid investments with original maturities of three months or less. The Company places its cash with high credit quality institutions to minimize credit risk exposure.
Debt Issuance Costs	Debt Issuance Costs The Company records origination and other expenses related to its debt obligations as deferred financing costs. These expenses are deferred and amortized over the life of the related debt instrument. Debt issuance costs are presented on the consolidated statement of assets and liabilities as a direct deduction from the debt liability. In circumstances in which there is not an associated debt liability amount recorded in the consolidated financial statements when the debt issuance costs are incurred, such debt issuance costs will be reported on the consolidated statement of assets and liabilities as an asset until the debt liability is recorded. As of December 31, 2023, the balance of debt issuance costs was $(1.6) million, representing deferred financing costs of $3.2 million less accrued interest of $4.8 million, included in BoA Credit Facility and WF Credit Facility (each as defined below), net of $641.8 million on the consolidated statement of assets and liabilities. As of December 31, 2022, the balance of debt issuance costs was $(0.1) million, representing deferred financing costs of $2.4 million less accrued interest of $2.5 million, included in BoA Credit Facility and WF Credit Facility (each as defined below), net of $641.3 million on the consolidated statement 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-level U.S. federal income taxes on any ordinary income or capital gains that it distributes at least annually to its stockholders as dividends. To qualify as a RIC, the Company must, among other things, meet certain source-of-income and asset diversification requirements. In addition, to qualify for RIC tax treatment, the Company must distribute to its stockholders, for each taxable year, at least 90% of its “investment company taxable income” for that year, which is generally its ordinary income plus the excess of its realized net short-term capital gains over its realized net long-term capital losses. In order for the Company not to be subject to U.S. federal excise taxes, it must distribute annually an amount at least equal to the sum of (i) 98% of its net ordinary income (taking into account certain deferrals and elections) for the calendar year, (ii) 98.2% of its capital gains in excess of capital losses for the one year period ending October 31 in such calendar year and (iii) any net ordinary income and capital gains in excess of capital losses for preceding years that were not distributed during such years. The Company, at its discretion, may carry forward taxable income in excess of calendar year dividends and pay a 4% nondeductible U.S. federal excise tax on this income. The Company evaluates tax positions taken or expected to be taken in the course of preparing its consolidated financial statements to determine whether the tax positions are “more-likely-than-not” to be sustained by the applicable tax authority. Tax positions not deemed to meet the “more-likely-than-not” threshold are reserved and recorded as a tax benefit or expense in the current year. All penalties and interest associated with income taxes are included in income tax expense. Conclusions regarding tax positions are subject to review and may be adjusted at a later date based on factors including, but not limited to, on-going analyses of tax laws, regulations and interpretations thereof.
Basis of Consolidation	Basis of Consolidation As provided under ASC 946, the Company will generally not consolidate its investment in a company other than a substantially wholly owned investment company subsidiary or a controlled operating company whose business consists of providing services to the Company. Accordingly, the Company consolidated the results of the Company’s wholly owned investment company subsidiaries (PS BDC Funding and PS BDC Funding II) in its consolidated financial statements.
Interest and Dividend Income Recognition	Interest and Dividend Income Recognition Interest income is recorded on the accrual basis and includes amortization of premiums or accretion of discounts. Discounts and premiums to par value on securities purchased are accreted and amortized, respectively, into interest income over the contractual life of the respective security using the effective interest method. The amortized cost of investments represents the original cost adjusted for the amortization of premiums or accretion of discounts, if any. Upon prepayment of a loan or debt security, any prepayment premiums, unamortized upfront loan origination fees, paydown gains/losses and unamortized discounts are recorded as interest income in the current period. Dividend income on preferred equity securities is recorded on the accrual basis to the extent that such amounts are payable by the portfolio company and are expected to be collected. Dividend income on common equity securities and money market funds is recorded on the record date for private portfolio companies or on the ex-dividend date for publicly-traded portfolio companies.
Non-Accrual Status	Non-Accrual Status Loans are generally placed on non-accrual status when there is reasonable doubt that principal or interest will be collected in full. Accrued interest is generally reversed when a loan is placed on non-accrual status. Interest payments received on non-accrual loans may be recognized as income or applied to principal depending upon management’s judgment regarding collectability. Non-accrual loans are restored to accrual status when past due principal and interest is paid current and, in management’s judgment, are likely to remain current. Management may make exceptions to this treatment and determine not to place a loan on non-accrual status if the loan has sufficient collateral value and is in the process of collection. Management reviews all loans that have principal or interest that is 90 days past due, or when there is reasonable doubt as to the collection of principal or interest to determine if a loan will be placed on non-accrual status. When a loan is placed on non-accrual status, the accrued interest and unpaid interest is generally reversed, and any discount (market or original) is no longer accreted to interest income. Interest payments received while a loan is on non-accrual status may be applied to principal or recognized as income, as determined by management’s judgement regarding collectability. A loan may be taken off non-accrual status if past due payments are made, and if management determines the issuer is likely to remain current on future payments. Management may make exceptions to this policy if the loan has sufficient collateral value or is in the process of collection. Management may also leave a loan on accrual status while actively seeking recovery of past due payment. As of December 31, 2023 and 2022 the Company had no portfolio investments on non-accrual status.
Other Income	Other Income From time to time, the Company may receive fees for services provided to portfolio companies. These fees are generally only available to the Company as a result of closing investments, are normally paid at the closing of the investments, are generally non-recurring and are recognized as revenue when earned upon closing of the investment. The services that the Investment Advisor provides vary by investment, but can include closing, work, diligence or other similar fees and fees for providing managerial assistance to the Company’s portfolio companies. In addition, the Company may generate revenue in the form of consent, waiver, amendment, unused, and prepayment fees associated with the Company’s investment activities and commitment, organization, structuring or diligence fees, monitoring fees and possibly consulting and performance- based fees.
Offering Costs	Offering Costs Offering costs in connection with the offering of common stock of the Company are capitalized as a deferred charge and amortized to expense on a straight-line basis over 12 months from the commencement of operations, January 23, 2020. These expenses consist primarily of legal fees and other costs incurred with the Company’s share offerings, the preparation of the Company’s registration statement, and registration fees.
Net Realized Gains or Losses and Net Change in Unrealized Appreciation or Depreciation	Net Realized Gains or Losses and Net Change in Unrealized Appreciation or Depreciation The Company measures realized gains or losses by the difference between the net proceeds from the repayment or sale and the amortized cost basis of the investment, without regard to unrealized appreciation or depreciation previously recognized, but considering unamortized upfront fees and prepayment penalties. Net change in unrealized appreciation or depreciation reflects the change in portfolio investment values during the reporting period, including any reversal of previously recorded unrealized appreciation or depreciation, when gains or losses are realized.
New Accounting Pronouncements	New Accounting Pronouncements In March 2020, the FASB issued Accounting Standards Update 2020-04, Reference Rate Reform (Topic 848) – Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”). The guidance provides optional expedients and exceptions for applying generally accepted accounting principles to contracts, hedging relationships, and other transactions, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued. ASU 2020-04 was effective for all entities as of March 12, 2020 through December 31, 2022. In December 2022 the FASB issued Accounting Standards Update 2022-06, Reference Rate Reform (Topic 848) – Deferral of the Sunset Date of Topic 848 which extended the effective period through December 31, 2024. On July 26, 2023, the SEC adopted amendments intended to enhance and standardize disclosures related to cybersecurity. The amendments require timely disclosure of material cybersecurity incidents and annual disclosures related to cybersecurity risk management, strategy, and governance. The disclosures are effective beginning with annual reports for fiscal years ending on or after December 15, 2023. The Company has evaluated the impact of adoption on its consolidated financial statements and is effective for the current filing.

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2023
Investments [Abstract]
Schedule of Investment Portfolio at Amortized Cost and Fair Value	The following table presents the composition of the Company’s investment portfolio at amortized cost and fair value as of December 31, 2023 and December 31, 2022: December 31, 2023 December 31, 2022 Amortized Fair Amortized Fair Cost Value Cost Value First-lien senior secured debt $ 984,089,538 $ 952,100,626 $ 951,753,250 $ 870,880,344 Second-lien senior secured debt 67,449,770 55,989,218 71,513,263 58,118,340 Corporate Bonds 4,495,104 4,239,975 1,884,529 1,332,888 CLO Mezzanine 14,859,567 13,764,620 17,589,330 14,732,721 CLO Equity 24,478,438 18,953,309 27,012,348 21,800,224 Short-term investments 63,763,005 63,763,005 50,347,215 50,347,215 Total Investments $ 1,159,135,422 $ 1,108,810,753 $ 1,120,099,935 $ 1,017,211,732
Schedule of Percentage of Total Investments at Fair Value	The industry composition of investments based on fair value, as a percentage of total investments at fair value, as of December 31, 2023 and December 31, 2022 was as follows: December 31, December 31, Software 14.0 % 12.9 % Healthcare Providers and Services 9.3 % 9.9 % Professional Services 7.2 % 5.9 % IT Services 6.7 % 8.4 % Insurance 5.9 % 5.8 % Short Term Investments 5.8 % 4.9 % Diversified Financial Services 4.2 % 2.6 % Hotels, Restaurants and Leisure 4.2 % 3.9 % Media 3.7 % 3.2 % Independent Power and Renewable Electricity Producers 3.4 % 2.8 % Chemicals 2.9 % 3.3 % Building Products 2.9 % 3.7 % Construction and Engineering 2.6 % 2.5 % Food Products 2.0 % 1.3 % Auto Components 1.7 % 1.9 % Structured Subordinated Note 1.7 % 2.1 % Containers and Packaging 1.7 % 1.5 % Machinery 1.6 % 0.6 % Diversified Consumer Services 1.6 % 1.6 % Electronic Equipment, Instruments and Components 1.5 % 1.2 % Internet Software and Services 1.4 % 1.1 % Energy Equipment and Services 1.4 % 0.6 % Commercial Services and Supplies 1.3 % 1.3 % Structured Note 1.2 % 1.4 % Aerospace and Defense 1.2 % 2.5 % Metals and Mining 1.2 % 2.0 % Healthcare Technology 1.0 % 2.1 % Oil, Gas and Consumable Fuels 0.9 % 1.7 % Diversified Telecommunication Services 0.8 % 0.3 % Healthcare Equipment and Supplies 0.8 % 0.9 % Specialty Retail 0.6 % 1.3 % Real Estate Management and Development 0.6 % 0.6 % Wireless Telecommunication Services 0.6 % 0.6 % Pharmaceuticals 0.6 % 0.6 % Electrical Equipment 0.5 % 0.5 % Road and Rail 0.5 % 0.5 % Household Durables 0.4 % 0.3 % Industrial Conglomerates 0.4 % 0.4 % Technology Hardware, Storage and Peripherals - % 0.4 % Textiles, Apparel and Luxury Goods - % 0.1 % Airlines - % 0.8 % Total 100.0 % 100.0 %

Fair Value of Investments (Tabl

Fair Value of Investments (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value of Investments [Abstract]
Schedule of Fair Value Hierarchy of Investments	The following table presents the fair value hierarchy of investments as of December 31, 2023: Fair Value Hierarchy as of December 31, 2023 Investments: Level 1 Level 2 Level 3 Total First-lien senior secured debt $ - $ 952,100,626 - $ 952,100,626 Second-lien senior secured debt - 55,989,218 - 55,989,218 Corporate Bonds - 4,239,975 - 4,239,975 Convertible Bond - - - - CLO Mezzanine - 13,764,620 - 13,764,620 CLO Equity - 18,953,309 - 18,953,309 Equity - - - - Short Term Investments 63,763,005 - - 63,763,005 Total Investments $ 63,763,005 $ 1,045,047,748 $ - $ 1,108,810,753 The following table presents the fair value hierarchy of investments as of December 31, 2022: Fair Value Hierarchy as of December 31, 2022 Investments: Level 1 Level 2 Level 3 Total First-lien senior secured debt $ - $ 870,880,344 $ - $ 870,880,344 Second-lien senior secured debt - 58,118,340 - 58,118,340 Corporate Bonds - 1,332,888 - 1,332,888 CLO Mezzanine - 14,732,721 - 14,732,721 CLO Equity - 21,800,224 - 21,800,224 Short Term Investments 50,347,215 - - 50,347,215 Total Investments $ 50,347,215 $ 966,864,517 $ - $ 1,017,211,732

Borrowings (Tables)

Borrowings (Tables)	12 Months Ended
	Dec. 31, 2023
Borrowings [Abstract]
Schedule of Senior Securities	Debt obligations under the BoA Credit Facility consisted of the following as of December 31, 2023: December 31, 2023 Aggregate Outstanding Amount (1) Net (2) BoA Credit Facility $ 725,000,000 $ 504,000,000 $ 221,000,000 $ 505,417,357 Total debt $ 725,000,000 $ 504,000,000 $ 221,000,000 $ 505,417,357 (1) The amount available reflects any limitations related to the BoA Credit Facility’s borrowing base. (2) The carrying value of the BoA Credit Facility is presented net of deferred financing costs of $739 thousand and accrued interest of $2.156 million. December 31, 2022 Aggregate Outstanding Amount (1) Net (2) BoA Credit Facility $ 725,000,000 $ 514,500,000 $ 210,500,000 $ 513,726,164 Total debt $ 725,000,000 $ 514,500,000 $ 210,500,000 $ 513,726,164 (1) The amount available reflects any limitations related to the BoA Credit Facility’s borrowing base. (2) The carrying value of the BoA Credit Facility is presented net of deferred financing costs of $1.358 million and accrued interest of $584 thousand. December 31, 2023 Aggregate Outstanding Amount (1) Net (2) WF Credit Facility $ 175,000,000 $ 136,250,000 $ 38,750,000 $ 136,411,448 Total debt $ 175,000,000 $ 136,250,000 $ 38,750,000 $ 136,411,448 (1) The amount available reflects any limitations related to the WF Credit Facility’s borrowing base. (2) The carrying value of the WF Credit Facility is presented net of deferred financing costs of $2.472 million and accrued interest of $2.634 million. December 31, 2022 Aggregate Outstanding Amount (1) Net (2) WF Credit Facility $ 150,000,000 $ 126,750,000 $ 23,250,000 $ 127,583,253 Total debt $ 150,000,000 $ 126,750,000 $ 23,250,000 $ 127,583,253 (1) The amount available reflects any limitations related to the WF Credit Facility’s borrowing base. (2) The carrying value of the WF Credit Facility is presented net of deferred financing costs of $1.047 million and accrued interest of $1.880 million.
Schedule of Interest Expense	For the years ended December 31, 2023, 2022, and 2021, the components of interest expense with respect to the BoA Credit Facility were as follows: For the Year Ended December 31 2023 2022 2021 Interest expense $ 33,703,442 $ 17,356,543 $ 6,711,315 Amortization of debt issuance costs 646,738 635,331 550,610 Total interest expense $ 34,350,180 $ 17,991,874 $ 7,261,925 Average interest rate 6.42 % 2.97 % 1.40 % For the Year Ended December 31, 2023 2022 2021 Interest expense $ 9,773,911 $ 5,107,383 $ 996,077 Amortization of debt issuance costs 359,061 352,912 358,659 Total interest expense $ 10,132,972 $ 5,460,295 $ 1,354,736 Average interest rate 7.20 % 4.03 % 2.18 %
Schedule of Senior Securities	Information about the Company’s senior securities is shown in the following table for the fiscal years ended December 31, 2023, 2022, 2021, and 2020 (in thousands). Class and Period Ended Total Amount Outstanding Exclusive of Treasury Securities (1) Asset Coverage per Unit (2) Involuntary Liquidating Preference per Unit (3) Average Market Value per Unit (4) BoA Credit Facility December 31, 2023 504.0 1,721.5 — — December 31, 2022 514.5 1,566.8 — — December 31, 2021 552.0 1,694.5 — — December 31, 2020 395.0 1,640.9 WF Credit Facility December 31, 2023 136.3 1,721.5 — — December 31, 2022 126.8 1,566.8 — — December 31, 2021 100.0 1,694.5 — — December 31, 2020 0.0 1,640.9 (1) Total amount of each class of senior securities outstanding at the end of the period presented. (2) Asset coverage per unit is the ratio of the carrying value of our total consolidated assets, less all liabilities and indebtedness not represented by senior securities, to the aggregate amount of senior securities representing indebtedness. Asset coverage per unit is expressed in terms of dollar amounts per $1,000 of indebtedness. (3) The amount to which such class of senior security would be entitled upon the voluntary liquidation of the issuer in preference to any security junior to it. The “—” in this column indicates that the SEC expressly does not require this information to be disclosed for certain types of senior securities. (4) Not applicable because such senior securities are not registered for public trading.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies [Abstract]
Schedule of Unfunded Commitments	A summary of the composition of the unfunded commitments as of December 31, 2023 is shown in the table below: Expiration Date (1) As of Accession Risk Management Group, Inc. 2/14/2025 2,457,847 Aptean Inc. 1/30/2031 436,880 Aptean Inc. 1/30/2026 851,480 Aramsco, Inc. 10/10/2025 712,871 B’Laster Holdings, LLC 10/25/2025 466,666 Enverus Holdings, Inc. 12/22/2025 310,811 Enverus Holdings, Inc. 12/24/2029 472,973 ImageFirst Holdings, LLC 4/28/2025 833,333 MRI Software LLC 2/10/2027 6,363,630 MRI Software LLC 2/10/2027 636,370 OMNIA Partners, LLC 1/25/2024 223,269 Patriot Growth Insurance Services, LLC 11/17/2025 4,650,000 PT Intermediate Holdings III, LLC 9/1/2024 579,942 Ryan, LLC 11/14/2024 514,286 Tank Holding Corp. 5/22/2024 597,000 Total unfunded commitments $ 20,107,358 (1) Commitments are generally subject to borrowers meeting certain criteria such as compliance with covenants and certain operational metrics. These amounts may remain outstanding until the commitment period of an applicable loan expires, which may be shorter than its maturity. A summary of the composition of the unfunded commitments as of December 31, 2022 is shown in the table below: Expiration (1) As of ARC Falcon I Inc. 3/30/2023 $ 636,943 Vocus Group 6/18/2023 2,000,000 Total unfunded commitments $ 2,636,943 (1) Commitments are generally subject to borrowers meeting certain criteria such as compliance with covenants and certain operational metrics. These amounts may remain outstanding until the commitment period of an applicable loan expires, which may be shorter than its maturity.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Earnings Per Share of Common Stock	The following table sets forth the computation of basic and diluted earnings per share of common stock for the years ended December 31, 2023, 2022, and 2021: For the Year Ended December 31, 2023 2022 2021 Net increase (decrease) in net assets resulting from operations $ 107,835,651 $ (74,482,335 ) $ 19,059,718 Weighted average shares of common stock outstanding - basic and diluted 25,700,603 23,130,666 15,494,614 Earnings (loss) per share of common stock - basic and diluted $ 4.20 $ (3.22 ) $ 1.23

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Taxes [Abstract]
Schedule of Permanent Differences for Tax Purposes from Distributable Earnings to Additional Paid in Capital	The permanent differences for tax purposes from distributable earnings to additional paid in capital were reclassified for tax purposes for the tax years ended December 31, 2023, 2022, and 2021. These reclassifications have no impact on net assets. Year Ended December 31, 2023 2022 2021 Increase (decrease) in distributable earnings $ - $ - $ - Increase (decrease) in capital in excess of par value $ - $ - $ -
Schedule of Net Increase in Net Assets Resulting from Operations to Taxable Income	The following reconciles net increase in net assets resulting from operations to taxable income for the years ended December 31, 2023, 2022, and 2021: Year Ended December 31, 2023 2022 2021 Net increase (decrease) in net assets resulting from operations $ 107,835,651 $ (74,482,335 ) $ 19,059,718 Net change in unrealized appreciation (depreciation) from investments (52,563,544 ) 107,432,980 8,527,786 Other book tax differences 1,677,010 8,109,784 (897,245 ) Taxable income before deductions for distributions $ 56,949,117 $ 41,060,429 $ 26,690,259
Schedule of Distributions Paid	Year Ended December 31, 2023 2022 2021 Distributions paid from: Ordinary income $ 56,068,285 $ 43,482,016 $ 22,163,852 Capital gains - 573,101 3,788,641 Return of Capital - - - Total $ 56,068,285 $ 44,055,117 $ 25,952,493
Schedule of Components of Accumulated Earning	For the years ended December 31, 2023, 2022, and 2021, the components of accumulated earnings on a tax basis were as follows: Year Ended Year Ended Year Ended Undistributed net investment income (loss) $ 148,613 $ - $ 1,834,053 Undistributed capital gains - - 513,796 Capital loss carryforward (9,042,947 ) - - Other accumulated gain (loss) (85,947 ) (7,575,518 ) (101,573 ) Net unrealized appreciation (depreciation) (49,754,535 ) (102,926,664 ) 5,788,994 Total $ (58,734,816 ) $ (110,502,182 ) $ 8,035,270
Schedule of Aggregate Unrealized Appreciation and Depreciation on Investments	As of December 31, 2023, 2022, and 2021, the Company’s aggregate unrealized appreciation and depreciation on investments based on cost for U.S. federal income tax purposes was as follows: December 31, December 31, December 31, 2023 2022 2021 Tax cost $ 1,158,548,300 $ 1,120,121,398 $ 1,188,452,438 Gross unrealized appreciation 9,383,672 1,008,264 9,331,858 Gross unrealized depreciation (59,138,207 ) (103,934,928 ) (3,542,964 ) Net unrealized appreciation/(depreciation) on investments $ (49,754,535 ) $ (102,926,664 ) $ 5,788,994

Financial Highlights (Tables)

Financial Highlights (Tables)	12 Months Ended
	Dec. 31, 2023
Investment Company, Financial Highlights [Abstract]
Schedule of Financial Highlights	The following is a schedule of financial highlights for the years ended December 31, 2023, 2022, and 2021, and for the period January 23, 2020 (Commencement of Operations) through December 31, 2020: For the Period For the Year Ended December 31, December 31, 2023 2022 2021 2020 Per Common Share Operating Performance Net Asset Value, Beginning of Period $ 14.96 $ 20.06 $ 20.15 20.00 Results of Operations: Net Investment Income (1) 2.26 1.78 1.47 1.32 Net Realized and Unrealized Gain (Loss) on Investments (4) 1.98 (5.00 ) (0.18 ) (0.19 ) Net Increase (Decrease) in Net Assets Resulting from Operations 4.24 (3.22 ) 1.29 1.13 Distributions to Common Stockholders Distributions from Net Investment Income (2.16 ) (1.85 ) (1.01 ) (0.98 ) Distributions from Realized Gains - (0.03 ) (0.37 ) - Net Decrease in Net Assets Resulting from Distributions (2.16 ) (1.88 ) (1.38 ) (0.98 ) Net Asset Value, End of Period $ 17.04 $ 14.96 $ 20.06 20.15 Shares Outstanding, End of Period 27,102,794 24,286,628 22,570,331 12,562,805 Ratio/Supplemental Data Net assets, end of period $ 461,955,393 $ 363,443,482 $ 452,797,588 253,144,971 Weighted-average shares outstanding 25,700,603 23,130,666 15,494,614 11,156,932 Total Return (3) 29.21 % (16.51 %) 8.10 % 4.29 % Portfolio turnover 25 % 27 % 53 % 63 % Ratio of operating expenses to average net assets without waiver (2) 13.15 % 8.28 % 5.54 % 5.69 % Ratio of operating expenses to average net assets with waiver (2) 12.90 % 8.03 % 5.29 % 5.44 % Ratio of net investment income (loss) to average net assets without waiver (2) 13.54 % 9.61 % 6.92 % 7.18 % Ratio of net investment income (loss) to average net assets with waiver (2) 13.79 % 9.86 % 7.17 % 7.43 % (1) The per common share data was derived by using weighted average shares outstanding. (2) The ratios reflect an annualized amount. (3) Total return is calculated as the change in net asset value (“NAV”) per share during the period, plus distributions per share (if any), divided by the beginning NAV per share. Total return is not annualized. Assumes reinvestment of distributions. (4) Realized and unrealized gains and losses per share in this caption are balancing amounts necessary to reconcile the change in net asset value per share for the period, and may not reconcile with the aggregate gains and losses in the Consolidated Statements of Operations due to share transactions during the period.

Selected Quarterly Financial _2

Selected Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2023
Selected Quarterly Financial Data (Unaudited) [Abstract]
Schedule of Quarterly Results of Operations	The following are the quarterly results of operations for the years ended December 31, 2023, 2022, and 2021. For the Three Months Ended March 31, June 30, September 30, December 31, Investment income $ 26,185,502 $ 27,441,864 $ 28,773,690 $ 29,822,551 Net expenses 12,592,823 13,241,745 13,969,777 14,431,742 Net investment income (loss) 13,592,679 14,200,119 14,803,913 15,390,809 Net realized gain (loss) on investments, and foreign currency transactions (317,446 ) (2,570 ) (2,103,618 ) (291,779 ) Net change in unrealized gain (loss) on investments, foreign currency translations, and foreign currency contracts 14,813,089 9,743,113 21,152,793 6,854,549 Increase (decrease) in net assets resulting from operations $ 28,088,322 $ 23,940,662 $ 33,853,088 $ 21,953,579 Net asset value per share as of the end of the quarter $ 16.12 $ 16.55 $ 16.76 $ 17.04 For the Three Months Ended March 31, June 30, September 30, December 31, Investment income $ 14,254,960 $ 16,497,241 $ 19,973,554 $ 23,774,145 Net expenses 5,584,387 6,947,708 9,521,115 11,365,858 Net investment income (loss) 8,670,573 9,549,533 10,452,439 12,408,287 Net realized gain (loss) on investments, and foreign currency transactions (369,870 ) (486,754 ) (496,697 ) (6,776,866 ) Net change in unrealized gain (loss) on investments, foreign currency translations, and foreign currency contracts (11,731,503 ) (74,394,896 ) (16,711,415 ) (4,595,166 ) Increase (decrease) in net assets resulting from operations $ (3,430,800 ) $ (65,332,117 ) $ (6,755,673 ) $ 1,036,255 Net asset value per share as of the end of the quarter $ 19.91 $ 16.71 $ 16.00 $ 14.96 For the Three Months Ended March 31, June 30, September 30, December 31, Investment income $ 9,674,876 $ 7,869,228 $ 8,875,949 $ 13,265,600 Net expenses 3,637,128 3,673,024 3,966,032 5,575,228 Net investment income (loss) 6,037,748 4,196,204 4,909,917 7,690,372 Net realized gain (loss) on investments, and foreign currency transactions 1,132,657 2,712,837 489,555 418,214 Net change in unrealized gain (loss) on investments, foreign currency translations, and foreign currency contracts (1,826,413 ) (1,871,880 ) (673,345 ) (4,156,148 ) Increase (decrease) in net assets resulting from operations $ 5,343,992 $ 5,037,161 $ 4,726,127 $ 3,952,438 Net asset value per share as of the end of the quarter $ 20.57 $ 20.65 $ 20.70 $ 20.06

Organization (Details)

Organization (Details) - IPO [Member]	1 Months Ended
	Jan. 22, 2024 $ / shares shares
Organization (Details) [Line Items]
Shares of common stock (in Shares) | shares	5,450,000
Common stock per value	$ 0.001
Public offering price per share	$ 16.45

Significant Accounting Polici_2

Significant Accounting Policies (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Significant Accounting Policies [Line Items]
Accrued interest	$ 8,394,509	$ 6,465,594
Net of credit facility	$ 641,828,805	641,309,417
Taxable rate	90%
Income tax description	In order for the Company not to be subject to U.S. federal excise taxes, it must distribute annually an amount at least equal to the sum of (i) 98% of its net ordinary income (taking into account certain deferrals and elections) for the calendar year, (ii) 98.2% of its capital gains in excess of capital losses for the one year period ending October 31 in such calendar year and (iii) any net ordinary income and capital gains in excess of capital losses for preceding years that were not distributed during such years. The Company, at its discretion, may carry forward taxable income in excess of calendar year dividends and pay a 4% nondeductible U.S. federal excise tax on this income.
BoA Credit Facility and WF Credit Facility [Member]
Significant Accounting Policies [Line Items]
Debt issuance costs	$ 1,600,000	100,000
Debt finance costs	3,200,000	2,400,000
Accrued interest	4,800,000	2,500,000
Net of credit facility	$ 641,800,000	$ 641,300,000

Agreements and Related Party _2

Agreements and Related Party Transactions (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Agreements and Related Party Transactions [Abstract]
Renewed period	2 years
Additional renewed period	1 year
Percentage of weighted average	1.75%
Management fee percentage	2%
Management fees percentage	1.75%
Hurdle rate percentage in each quarter	1.50%
Hurdle rate percentage in annual term	6%
Percentage of adjusted net investment income	100%
Catch-up amount determining percentage	1.6875%
Incentive fee percentage	12.50%
Incentive fee percentage equals adjusted net investment income	12.50%
Due from advisor (in Dollars)	$ 1.4

Investments (Details)

Investments (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Investments [Abstract]
Percentage of long-term investment portfolio at amortized cost	14.20%	16%
Percentage of long-term investment portfolio measured at fair value	14.10%	16.30%
Total assets	13.20%	14.90%

Investments (Details) - Schedul

Investments (Details) - Schedule of Investment Portfolio at Amortized Cost and Fair Value - USD ($)	Dec. 31, 2023	Dec. 31, 2022
First-lien senior secured debt [Member]
Investments (Details) - Schedule of Investment Portfolio at Amortized Cost and Fair Value [Line Items]
Amortized Cost	$ 984,089,538	$ 951,753,250
Fair Value	952,100,626	870,880,344
Second-lien senior secured debt [Member]
Investments (Details) - Schedule of Investment Portfolio at Amortized Cost and Fair Value [Line Items]
Amortized Cost	67,449,770	71,513,263
Fair Value	55,989,218	58,118,340
Corporate Bonds [Member]
Investments (Details) - Schedule of Investment Portfolio at Amortized Cost and Fair Value [Line Items]
Amortized Cost	4,495,104	1,884,529
Fair Value	4,239,975	1,332,888
CLO Mezzanine [Member]
Investments (Details) - Schedule of Investment Portfolio at Amortized Cost and Fair Value [Line Items]
Amortized Cost	14,859,567	17,589,330
Fair Value	13,764,620	14,732,721
CLO Equity [Member]
Investments (Details) - Schedule of Investment Portfolio at Amortized Cost and Fair Value [Line Items]
Amortized Cost	24,478,438	27,012,348
Fair Value	18,953,309	21,800,224
Short-term investments [Member]
Investments (Details) - Schedule of Investment Portfolio at Amortized Cost and Fair Value [Line Items]
Amortized Cost	63,763,005	50,347,215
Fair Value	63,763,005	50,347,215
Total Investments [Member]
Investments (Details) - Schedule of Investment Portfolio at Amortized Cost and Fair Value [Line Items]
Amortized Cost	1,159,135,422	1,120,099,935
Fair Value	$ 1,108,810,753	$ 1,017,211,732

Investments (Details) - Sched_2

Investments (Details) - Schedule of Percentage of Total Investments at Fair Value	Dec. 31, 2023	Dec. 31, 2022
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	100%	100%
Software [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	14%	12.90%
Healthcare Providers and Services [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	9.30%	9.90%
Professional Services [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	7.20%	5.90%
IT Services [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	6.70%	8.40%
Insurance [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	5.90%	5.80%
Diversified Financial Services [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	4.20%	2.60%
Hotels, Restaurants and Leisure [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	4.20%	3.90%
Media [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	3.70%	3.20%
Independent Power and Renewable Electricity Producers [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	3.40%	2.80%
Chemicals [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	2.90%	3.30%
Building Products [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	2.90%	3.70%
Construction and Engineering [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	2.60%	2.50%
Food Products [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	2%	1.30%
Auto Components [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	1.70%	1.90%
Structured Subordinated Note [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	1.70%	2.10%
Containers and Packaging [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	1.70%	1.50%
Machinery [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	1.60%	0.60%
Diversified Consumer Services [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	1.60%	1.60%
Electronic Equipment, Instruments and Components [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	1.50%	1.20%
Internet Software and Services [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	1.40%	1.10%
Energy Equipment and Services [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	1.40%	0.60%
Commercial Services and Supplies [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	1.30%	1.30%
Structured Note [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	1.20%	1.40%
Aerospace and Defense [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	1.20%	2.50%
Metals and Mining [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	1.20%	2%
Healthcare Technology [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	1%	2.10%
Oil, Gas and Consumable Fuels [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	0.90%	1.70%
Diversified Telecommunication Services [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	0.80%	0.30%
Healthcare Equipment and Supplies [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	0.80%	0.90%
Specialty Retail [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	0.60%	1.30%
Real Estate Management and Development [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	0.60%	0.60%
Wireless Telecommunication Services [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	0.60%	0.60%
Pharmaceuticals [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	0.60%	0.60%
Electrical Equipment [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	0.50%	0.50%
Road and Rail [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	0.50%	0.50%
Household Durables [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	0.40%	0.30%
Industrial Conglomerates [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	0.40%	0.40%
Technology Hardware, Storage and Peripherals [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments		0.40%
Textiles, Apparel and Luxury Goods [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments		0.10%
Airlines [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments		0.80%
Short-Term Investments [Member]
Investments (Details) - Schedule of Percentage of Total Investments at Fair Value [Line Items]
Percentage of total investments	5.80%	4.90%

Fair Value of Investments (Deta

Fair Value of Investments (Details) - Schedule of Fair Value Hierarchy of Investments - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Fair Value Hierarchy of Investments [Line Items]
Total Investments	$ 1,108,810,753	$ 1,017,211,732
First-lien senior secured debt [Member]
Fair Value Hierarchy of Investments [Line Items]
Total Investments	952,100,626	870,880,344
Second-lien senior secured debt [Member]
Fair Value Hierarchy of Investments [Line Items]
Total Investments	55,989,218	58,118,340
Corporate Bonds [Member]
Fair Value Hierarchy of Investments [Line Items]
Total Investments	4,239,975	1,332,888
Convertible Bond [Member]
Fair Value Hierarchy of Investments [Line Items]
Total Investments
CLO Mezzanine [Member]
Fair Value Hierarchy of Investments [Line Items]
Total Investments	13,764,620	14,732,721
CLO Equity [Member]
Fair Value Hierarchy of Investments [Line Items]
Total Investments	18,953,309	21,800,224
Equity [Member]
Fair Value Hierarchy of Investments [Line Items]
Total Investments
Short Term Investments [Member]
Fair Value Hierarchy of Investments [Line Items]
Total Investments	63,763,005	50,347,215
Level 1 [Member]
Fair Value Hierarchy of Investments [Line Items]
Total Investments	63,763,005	50,347,215
Level 1 [Member] | First-lien senior secured debt [Member]
Fair Value Hierarchy of Investments [Line Items]
Total Investments
Level 1 [Member] | Second-lien senior secured debt [Member]
Fair Value Hierarchy of Investments [Line Items]
Total Investments
Level 1 [Member] | Corporate Bonds [Member]
Fair Value Hierarchy of Investments [Line Items]
Total Investments
Level 1 [Member] | Convertible Bond [Member]
Fair Value Hierarchy of Investments [Line Items]
Total Investments
Level 1 [Member] | CLO Mezzanine [Member]
Fair Value Hierarchy of Investments [Line Items]
Total Investments
Level 1 [Member] | CLO Equity [Member]
Fair Value Hierarchy of Investments [Line Items]
Total Investments
Level 1 [Member] | Equity [Member]
Fair Value Hierarchy of Investments [Line Items]
Total Investments
Level 1 [Member] | Short Term Investments [Member]
Fair Value Hierarchy of Investments [Line Items]
Total Investments	63,763,005	50,347,215
Level 2 [Member]
Fair Value Hierarchy of Investments [Line Items]
Total Investments	1,045,047,748	966,864,517
Level 2 [Member] | First-lien senior secured debt [Member]
Fair Value Hierarchy of Investments [Line Items]
Total Investments	952,100,626	870,880,344
Level 2 [Member] | Second-lien senior secured debt [Member]
Fair Value Hierarchy of Investments [Line Items]
Total Investments	55,989,218	58,118,340
Level 2 [Member] | Corporate Bonds [Member]
Fair Value Hierarchy of Investments [Line Items]
Total Investments	4,239,975	1,332,888
Level 2 [Member] | Convertible Bond [Member]
Fair Value Hierarchy of Investments [Line Items]
Total Investments
Level 2 [Member] | CLO Mezzanine [Member]
Fair Value Hierarchy of Investments [Line Items]
Total Investments	13,764,620	14,732,721
Level 2 [Member] | CLO Equity [Member]
Fair Value Hierarchy of Investments [Line Items]
Total Investments	18,953,309	21,800,224
Level 2 [Member] | Equity [Member]
Fair Value Hierarchy of Investments [Line Items]
Total Investments
Level 2 [Member] | Short Term Investments [Member]
Fair Value Hierarchy of Investments [Line Items]
Total Investments
Level 3 [Member]
Fair Value Hierarchy of Investments [Line Items]
Total Investments
Level 3 [Member] | First-lien senior secured debt [Member]
Fair Value Hierarchy of Investments [Line Items]
Total Investments
Level 3 [Member] | Second-lien senior secured debt [Member]
Fair Value Hierarchy of Investments [Line Items]
Total Investments
Level 3 [Member] | Corporate Bonds [Member]
Fair Value Hierarchy of Investments [Line Items]
Total Investments
Level 3 [Member] | Convertible Bond [Member]
Fair Value Hierarchy of Investments [Line Items]
Total Investments
Level 3 [Member] | CLO Mezzanine [Member]
Fair Value Hierarchy of Investments [Line Items]
Total Investments
Level 3 [Member] | CLO Equity [Member]
Fair Value Hierarchy of Investments [Line Items]
Total Investments
Level 3 [Member] | Equity [Member]
Fair Value Hierarchy of Investments [Line Items]
Total Investments
Level 3 [Member] | Short Term Investments [Member]
Fair Value Hierarchy of Investments [Line Items]
Total Investments

Borrowings (Details)

Borrowings (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Borrowings (Details) [Line Items]
Borrowing rate	150%
Asset coverage per unit (in Dollars per share)	$ 1,000
Minimum [Member]
Borrowings (Details) [Line Items]
Credit facility amount	$ 150,000,000
Maximum [Member]
Borrowings (Details) [Line Items]
Credit facility amount	$ 175,000,000
Borrowings [Member]
Borrowings (Details) [Line Items]
Asset coverage ratio	172%
Debt instrument, description	Under the BoA Credit Facility, which matures on February 18, 2025, the Lenders have agreed to extend credit to PS BDC Funding in an aggregate amount up to the Commitment (as defined in the Credit Agreement) amount. The Commitment amount for the BoA Credit Facility is currently $725 million.
BoA Credit Facility [Member]
Borrowings (Details) [Line Items]
Financing costs	$ 739,000	$ 1,358,000
Accrued interest	2,156,000	584,000
Average debt outstanding	$ 498,300,000	544,000,000	$ 433,100,000
BoA Credit Facility [Member] | Borrowings [Member]
Borrowings (Details) [Line Items]
Debt instrument, description	The base rate loans will bear interest at the base rate plus 1.40%, and the SOFR loans will bear interest at 1-month SOFR plus 1.40% or 3-month SOFR plus 1.45%. The “base rate” will be equal to the highest of (a) the federal funds rate plus 0.50%, (b) the prime rate, and (c) 1-month or 3-month SOFR plus 0.10%. The Credit Agreement includes fallback language in the event that SOFR becomes unavailable. Interest pursuant to base rate loans is payable quarterly in arrears, and interest pursuant to SOFR loans is payable either quarterly or monthly, as specified by the Borrowers in a loan notice pertaining thereto. The Credit Agreement requires the payment of a commitment fee of 0.50% for unused Commitments until the four-month anniversary of the Second Amendment to the Credit Agreement. Thereafter, the commitment fee is 0.50% on unused Commitments up to 30% of the BoA Credit Facility, and 1.30% on unused Commitments in excess of 30% of the BoA Credit Facility. Such fee is payable quarterly in arrears. The advance rate for PS BDC Funding’s Eligible Collateral Assets ranges from 40% for Second Lien Bank Loans to 70% for First Lien Bank Loans that are B Assets to 100% for Cash (excluding Excluded Amounts) (as each such term is defined in the Credit Agreement).
BoA Credit Facility [Member] | Borrowings [Member] | Prior to February 3, 2023 [Member]
Borrowings (Details) [Line Items]
Debt instrument, description	The base rate loans bore interest at the base rate plus 1.30%, and the eurocurrency rate loans bore interest at 1-month or 3-month LIBOR plus 1.30%. The “base rate” was equal to the highest of (a) the federal funds rate plus 0.50%, (b) the prime rate, and (c) 1-month or 3-month LIBOR. On February 3, 2023, the Company entered into an omnibus amendment to the BoA Credit Facility that, among other things: (i) removed LIBOR transition language and (ii) replaced eurocurrency rate loans with SOFR loans.
WF Credit Facility [Member]
Borrowings (Details) [Line Items]
Financing costs		1,047,000
Accrued interest	$ 2,634,000	1,880,000
Average debt outstanding	131,400,000	$ 123,400,000	$ 13,900,000
Deferred financing costs	$ 2,472,000
WF Credit Facility [Member] | Borrowings [Member]
Borrowings (Details) [Line Items]
Debt instrument, description	Broadly Syndicated Loans or Middle Market Loans and will bear interest at Daily Simple SOFR, or base rate (to the extent Daily Simple SOFR is unavailable), plus 2.50%, with an interest rate floor of 0.0%. The “base rate” will be equal to the highest of (a) the federal funds rate plus 0.50% and (b) the prime rate. The Loan Agreement includes fallback language in the event that Daily Simple SOFR becomes unavailable. Interest is payable quarterly, as determined by the WFB as the administrative agent. Following an amendment to the WF Credit Facility on October 13, 2021, the Loan Agreement requires the payment of a non-usage fee of (x) during the first thirteen months following the closing of the WF Credit Facility, 0.50% multiplied by daily unused Facility Amounts, (y) between thirteen and sixteen months following the closing of the WF Credit Facility, 0.50% multiplied by the lesser of (1) daily unused Facility Amounts and (2) 50% of the Facility Amount plus 2.00% multiplied by the greater of (i) the difference between the daily unused Facility Amount and 50% of the Facility Amount and (ii) zero and, (z) thereafter, 0.50% multiplied by the lesser of (1) daily unused Facility Amounts and (2) 20% of the Facility Amount plus 2.00% multiplied by the greater of (i) the difference between the daily unused Facility Amount and 20% of the Facility Amount and (ii) zero. Such fee is payable quarterly in arrears. The WF Credit Facility includes the option to downsize the facility by paying a Commitment Reduction Fee. The Fee is equal to 2.00% of the facility reduction amount prior to the one-year anniversary of the WF Credit Facility Fourth Amendment, and 1.00% thereafter. The applicable percentage for the advance rate on PS BDC Funding II’s Eligible Loans ranges from 67.5% for Middle Market Loans to 70% for Broadly Syndicated Loans (as each such term is defined in the Loan Agreement).
WF Credit Facility [Member] | Borrowings [Member] | Prior to April 10, 2023 [Member]
Borrowings (Details) [Line Items]
Debt instrument, description	Broadly Syndicated Loans or Middle Market loans and were eurocurrency rate loans unless such rate was unavailable, in which case the loans were base rate loans until such rate was available. Broadly Syndicated Loans bore interest at the LIBOR or base rate, as applicable, plus 1.85%, and Middle Market Loans bore interest at LIBOR or base rate, as applicable, plus 2.35%. The “base rate” was equal to the highest of (a) the federal funds rate plus 0.50% and (b) the prime rate. On April 10, 2023, the Company entered into an amendment to the WF Credit Facility that, among other things: (i) transferred and assigned U.S. Bank National Association’s rights and obligations as collateral agent and as a secured party to U.S. Bank Trust Company, National Association, (ii) referenced SOFR instead of LIBOR and (iii) removed LIBOR transition language.

Borrowings (Details) - Schedule

Borrowings (Details) - Schedule of Debt Obligations Under the BoA Credit Facility - USD ($)	12 Months Ended
	Dec. 31, 2023		Dec. 31, 2022
Bank of America Credit Facility [Member]
Line of Credit Facility [Line Items]
Aggregate Principal Committed	$ 725,000,000		$ 725,000,000
Outstanding Principal	504,000,000		514,500,000
Amount Available	221,000,000	[1]	210,500,000	[2]
Net Carrying Value	505,417,357	[3]	513,726,164	[4]
Bank of America Credit Facility [Member] | Credit Agreement [Member]
Line of Credit Facility [Line Items]
Aggregate Principal Committed	725,000,000		725,000,000
Outstanding Principal	504,000,000		514,500,000
Amount Available	221,000,000	[1]	210,500,000	[2]
Net Carrying Value	505,417,357	[3]	513,726,164	[4]
Wells Fargo Credit Facility [Member]
Line of Credit Facility [Line Items]
Aggregate Principal Committed	175,000,000		150,000,000
Outstanding Principal	136,250,000		126,750,000
Amount Available	38,750,000	[5]	23,250,000	[6]
Net Carrying Value	136,411,448	[7]	127,583,253	[8]
Wells Fargo Credit Facility [Member] | Credit Agreement [Member]
Line of Credit Facility [Line Items]
Aggregate Principal Committed	175,000,000		150,000,000
Outstanding Principal	136,250,000		126,750,000
Amount Available	38,750,000	[5]	23,250,000	[6]
Net Carrying Value	$ 136,411,448	[7]	$ 127,583,253	[8]
[1] The amount available reflects any limitations related to the BoA Credit Facility’s borrowing base. The amount available reflects any limitations related to the BoA Credit Facility’s borrowing base. The carrying value of the BoA Credit Facility is presented net of deferred financing costs of $739 thousand and accrued interest of $2.156 million. The carrying value of the BoA Credit Facility is presented net of deferred financing costs of $1.358 million and accrued interest of $584 thousand. The amount available reflects any limitations related to the WF Credit Facility’s borrowing base. The amount available reflects any limitations related to the WF Credit Facility’s borrowing base. The carrying value of the WF Credit Facility is presented net of deferred financing costs of $2.472 million and accrued interest of $2.634 million. The carrying value of the WF Credit Facility is presented net of deferred financing costs of $1.047 million and accrued interest of $1.880 million.

Borrowings (Details) - Schedu_2

Borrowings (Details) - Schedule of Interest Expense - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Bank of America Credit Facility [Member]
Borrowings (Details) - Schedule of Interest Expense [Line Items]
Interest expense	$ 33,703,442	$ 17,356,543	$ 6,711,315
Amortization of debt issuance costs	646,738	635,331	550,610
Total interest expense	$ 34,350,180	$ 17,991,874	$ 7,261,925
Average interest rate	6.42%	2.97%	1.40%
Wells Fargo Credit Facility [Member]
Borrowings (Details) - Schedule of Interest Expense [Line Items]
Interest expense	$ 9,773,911	$ 5,107,383	$ 996,077
Amortization of debt issuance costs	359,061	352,912	358,659
Total interest expense	$ 10,132,972	$ 5,460,295	$ 1,354,736
Average interest rate	7.20%	4.03%	2.18%

Borrowings (Details) - Schedu_3

Borrowings (Details) - Schedule of Senior Securities - Credit Agreement [Member] - USD ($) $ / shares in Units, $ in Millions		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
BoA Credit Facility [Member]
BoA Credit Facility
Total Amount Outstanding Exclusive of Treasury Securities (in Dollars)	[1]	$ 504	$ 514.5	$ 552	$ 395
Asset Coverage per Unit	[2]	$ 1,721.5	$ 1,566.8	$ 1,694.5	$ 1,640.9
Involuntary Liquidating Preference per Unit	[3]
Average Market Value per Unit	[4]
WF Credit Facility [Member]
BoA Credit Facility
Total Amount Outstanding Exclusive of Treasury Securities (in Dollars)	[1]	$ 136.3	$ 126.8	$ 100	$ 0
Asset Coverage per Unit	[2]	$ 1,721.5	$ 1,566.8	$ 1,694.5	$ 1,640.9
Involuntary Liquidating Preference per Unit	[3]
Average Market Value per Unit	[4]
[1] Total amount of each class of senior securities outstanding at the end of the period presented. Asset coverage per unit is the ratio of the carrying value of our total consolidated assets, less all liabilities and indebtedness not represented by senior securities, to the aggregate amount of senior securities representing indebtedness. Asset coverage per unit is expressed in terms of dollar amounts per $1,000 of indebtedness. The amount to which such class of senior security would be entitled upon the voluntary liquidation of the issuer in preference to any security junior to it. The “—” in this column indicates that the SEC expressly does not require this information to be disclosed for certain types of senior securities. Not applicable because such senior securities are not registered for public trading.

Share Transactions (Details)

Share Transactions (Details) - USD ($) $ / shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share Transactions (Details) [Line Items]
Issuance of sale shares (in Shares)	2,816,166	1,716,297	10,007,526
Aggregate purchase price (in Dollars per share)	$ 46.7	$ 29.2	$ 206.6
Common stock repurchase shares	$ 20
Acquired shares	15
Aggregate purchase price	5
Rule 10b5-1 Stock Repurchase Plan [Member]
Share Transactions (Details) [Line Items]
Common stock repurchase shares	15
Aggregate purchase price	2.5
PSCM Rule 10b5-1 Stock Purchase Plan [Member]
Share Transactions (Details) [Line Items]
Aggregate purchase price	$ 2.5

Commitments and Contingencies_2

Commitments and Contingencies (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Commitments and Contingencies [Abstract]
Unfunded commitments	$ 20.1	$ 2.6

Commitments and Contingencies_3

Commitments and Contingencies (Details) - Schedule of Unfunded Commitments - USD ($)		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022
Commitments and Contingencies (Details) - Schedule of Unfunded Commitments [Line Items]
Total unfunded commitments		$ 20,107,358	$ 2,636,943
Accession Risk Management Group, Inc. [Member]
Commitments and Contingencies (Details) - Schedule of Unfunded Commitments [Line Items]
Expiration Date	[1]	Feb. 14, 2025
Total unfunded commitments		$ 2,457,847
Aptean Inc. [Member]
Commitments and Contingencies (Details) - Schedule of Unfunded Commitments [Line Items]
Expiration Date	[1]	Jan. 30, 2031
Total unfunded commitments		$ 436,880
Aptean Inc. One [Member]
Commitments and Contingencies (Details) - Schedule of Unfunded Commitments [Line Items]
Expiration Date	[1]	Jan. 30, 2026
Total unfunded commitments		$ 851,480
Aramsco, Inc. [Member]
Commitments and Contingencies (Details) - Schedule of Unfunded Commitments [Line Items]
Expiration Date	[1]	Oct. 10, 2025
Total unfunded commitments		$ 712,871
B’Laster Holdings, LLC [Member]
Commitments and Contingencies (Details) - Schedule of Unfunded Commitments [Line Items]
Expiration Date	[1]	Oct. 25, 2025
Total unfunded commitments		$ 466,666
Enverus Holdings, Inc. [Member]
Commitments and Contingencies (Details) - Schedule of Unfunded Commitments [Line Items]
Expiration Date	[1]	Dec. 22, 2025
Total unfunded commitments		$ 310,811
Enverus Holdings One [Member]
Commitments and Contingencies (Details) - Schedule of Unfunded Commitments [Line Items]
Expiration Date	[1]	Dec. 24, 2029
Total unfunded commitments		$ 472,973
ImageFirst Holdings, LLC [Member]
Commitments and Contingencies (Details) - Schedule of Unfunded Commitments [Line Items]
Expiration Date	[1]	Apr. 28, 2025
Total unfunded commitments		$ 833,333
MRI Software LLC [Member]
Commitments and Contingencies (Details) - Schedule of Unfunded Commitments [Line Items]
Expiration Date	[1]	Feb. 10, 2027
Total unfunded commitments		$ 6,363,630
MRI Software LLC One [Member]
Commitments and Contingencies (Details) - Schedule of Unfunded Commitments [Line Items]
Expiration Date	[1]	Feb. 10, 2027
Total unfunded commitments		$ 636,370
OMNIA Partners, LLC [Member]
Commitments and Contingencies (Details) - Schedule of Unfunded Commitments [Line Items]
Expiration Date	[1]	Jan. 25, 2024
Total unfunded commitments		$ 223,269
Patriot Growth Insurance Services, LLC [Member]
Commitments and Contingencies (Details) - Schedule of Unfunded Commitments [Line Items]
Expiration Date	[1]	Nov. 17, 2025
Total unfunded commitments		$ 4,650,000
PT Intermediate Holdings III, LLC [Member]
Commitments and Contingencies (Details) - Schedule of Unfunded Commitments [Line Items]
Expiration Date	[1]	Sep. 01, 2024
Total unfunded commitments		$ 579,942
Ryan, LLC [Member]
Commitments and Contingencies (Details) - Schedule of Unfunded Commitments [Line Items]
Expiration Date	[1]	Nov. 14, 2024
Total unfunded commitments		$ 514,286
Tank Holding Corp. [Member]
Commitments and Contingencies (Details) - Schedule of Unfunded Commitments [Line Items]
Expiration Date	[1]	May 22, 2024
Total unfunded commitments		$ 597,000
ARC Falcon I Inc.[Member]
Commitments and Contingencies (Details) - Schedule of Unfunded Commitments [Line Items]
Expiration Date	[1]		Mar. 30, 2023
Total unfunded commitments			$ 636,943
Vocus Group [Member]
Commitments and Contingencies (Details) - Schedule of Unfunded Commitments [Line Items]
Expiration Date	[1]		Jun. 18, 2023
Total unfunded commitments			$ 2,000,000
[1] Commitments are generally subject to borrowers meeting certain criteria such as compliance with covenants and certain operational metrics. These amounts may remain outstanding until the commitment period of an applicable loan expires, which may be shorter than its maturity.

Earnings Per Share (Details) -

Earnings Per Share (Details) - Schedule of Computation of Basic and Diluted Earnings Per Share of Common Stock - Common Stock [Member] - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share (Details) - Schedule of Computation of Basic and Diluted Earnings Per Share of Common Stock [Line Items]
Net increase (decrease) in net assets resulting from operations	$ 107,835,651	$ (74,482,335)	$ 19,059,718
Weighted average shares of common stock outstanding - basic	25,700,603	23,130,666	15,494,614
Earnings (loss) per share of common stock - basic	$ 4.2	$ (3.22)	$ 1.23

Earnings Per Share (Details) _2

Earnings Per Share (Details) - Schedule of Computation of Basic and Diluted Earnings Per Share of Common Stock (Parentheticals) - Common Stock [Member] - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share (Details) - Schedule of Computation of Basic and Diluted Earnings Per Share of Common Stock (Parentheticals) [Line Items]
Weighted average shares of common stock outstanding - diluted	25,700,603	23,130,666	15,494,614
Earnings (loss) per share of common stock - diluted	$ 4.20	$ (3.22)	$ 1.23

Income Taxes (Details)

Income Taxes (Details)	12 Months Ended
	Dec. 31, 2023 USD ($)
Income Taxes [Abstract]
Excise tax rate	4%
Capital loss carryforward	$ 9,042,947

Income Taxes (Details) - Schedu

Income Taxes (Details) - Schedule of Permanent Differences for Tax Purposes from Distributable Earnings to Additional Paid in Capital - Income Taxes [Member] - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Net Increase in Net Assets Resulting from Operations to Taxable Income [Line Items]
Increase (decrease) in distributable earnings
Increase (decrease) in capital in excess of par value

Income Taxes (Details) - Sche_2

Income Taxes (Details) - Schedule of Net Increase in Net Assets Resulting from Operations to Taxable Income - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Net Increase in Net Assets Resulting from Operations to Taxable Income [Abstract]
Net increase (decrease) in net assets resulting from operations	$ 107,835,651	$ (74,482,335)	$ 19,059,718
Net change in unrealized appreciation (depreciation) from investments	(52,563,544)	107,432,980	8,527,786
Other book tax differences	1,677,010	8,109,784	(897,245)
Taxable income before deductions for distributions	$ 56,949,117	$ 41,060,429	$ 26,690,259

Income Taxes (Details) - Sche_3

Income Taxes (Details) - Schedule of Distributions Paid - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Distributions paid from:
Ordinary income	$ 56,068,285	$ 43,482,016	$ 22,163,852
Capital gains		573,101	3,788,641
Return of Capital
Total	$ 56,068,285	$ 44,055,117	$ 25,952,493

Income Taxes (Details) - Sche_4

Income Taxes (Details) - Schedule of Components of Accumulated Earning - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Components Of Accumulated Earning Abstract
Undistributed net investment income (loss)	$ 148,613		$ 1,834,053
Undistributed capital gains			513,796
Capital loss carryforward	(9,042,947)
Other accumulated gain (loss)	(85,947)	(7,575,518)	(101,573)
Net unrealized appreciation (depreciation)	(49,754,535)	(102,926,664)	5,788,994
Total	$ (58,734,816)	$ (110,502,182)	$ 8,035,270

Income Taxes (Details) - Sche_5

Income Taxes (Details) - Schedule of Aggregate Unrealized Appreciation and Depreciation on Investments - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Aggregate Unrealized Appreciation and Depreciation on Investments [Abstract]
Tax cost	$ 1,158,548,300	$ 1,120,121,398	$ 1,188,452,438
Gross unrealized appreciation	9,383,672	1,008,264	9,331,858
Gross unrealized depreciation	(59,138,207)	(103,934,928)	(3,542,964)
Net unrealized appreciation/(depreciation) on investments	$ (49,754,535)	$ (102,926,664)	$ 5,788,994

Financial Highlights (Details)

Financial Highlights (Details) - Schedule of Financial Highlights - USD ($)		11 Months Ended	12 Months Ended
		Dec. 31, 2020	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Per Common Share Operating Performance
Net Asset Value, Beginning of Period		$ 20	$ 14.96	$ 20.06	$ 20.15
Results of Operations:
Net Investment Income	[1]	$ 1.32	$ 2.26	$ 1.78	$ 1.47
Net Realized and Unrealized Gain (Loss) on Investments (in Dollars)	[2]	$ (0.19)	$ 1.98	$ (5)	$ (0.18)
Net Increase (Decrease) in Net Assets Resulting from Operations		$ 1.13	$ 4.24	$ (3.22)	$ 1.29
Distributions to Common Stockholders
Distributions from Net Investment Income		(0.98)	(2.16)	(1.85)	(1.01)
Distributions from Realized Gains				(0.03)	(0.37)
Net Decrease in Net Assets Resulting from Distributions		(0.98)	(2.16)	(1.88)	(1.38)
Net Asset Value, End of Period		$ 20.15	$ 17.04	$ 14.96	$ 20.06
Shares Outstanding, End of Period (in Shares)		12,562,805	27,102,794	24,286,628	22,570,331
Ratio/Supplemental Data
Net assets, end of period (in Dollars)		$ 253,144,971	$ 461,955,393	$ 363,443,482	$ 452,797,588
Weighted-average shares outstanding (in Shares)		11,156,932	25,700,603	23,130,666	15,494,614
Total Return	[3]	4.29%	29.21%	(16.51%)	8.10%
Portfolio turnover		63%	25%	27%	53%
Ratio of operating expenses to average net assets without waiver	[4]	5.69%	13.15%	8.28%	5.54%
Ratio of operating expenses to average net assets with waiver	[4]	5.44%	12.90%	8.03%	5.29%
Ratio of net investment income (loss) to average net assets without waiver	[4]	7.18%	13.54%	9.61%	6.92%
Ratio of net investment income (loss) to average net assets with waiver	[4]	7.43%	13.79%	9.86%	7.17%
[1] The per common share data was derived by using weighted average shares outstanding. Realized and unrealized gains and losses per share in this caption are balancing amounts necessary to reconcile the change in net asset value per share for the period, and may not reconcile with the aggregate gains and losses in the Consolidated Statements of Operations due to share transactions during the period. Total return is calculated as the change in net asset value (“NAV”) per share during the period, plus distributions per share (if any), divided by the beginning NAV per share. Total return is not annualized. Assumes reinvestment of distributions. The ratios reflect an annualized amount.

Selected Quarterly Financial _3

Selected Quarterly Financial Data (Unaudited) (Details) - Schedule of Quarterly Results of Operations - USD ($)	3 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021
Schedule of Quarterly Results of Operations [Abstract]
Investment income	$ 29,822,551	$ 28,773,690	$ 27,441,864	$ 26,185,502	$ 23,774,145	$ 19,973,554	$ 16,497,241	$ 14,254,960	$ 13,265,600	$ 8,875,949	$ 7,869,228	$ 9,674,876
Net expenses	14,431,742	13,969,777	13,241,745	12,592,823	11,365,858	9,521,115	6,947,708	5,584,387	5,575,228	3,966,032	3,673,024	3,637,128
Net investment income (loss)	15,390,809	14,803,913	14,200,119	13,592,679	12,408,287	10,452,439	9,549,533	8,670,573	7,690,372	4,909,917	4,196,204	6,037,748
Net realized gain (loss) on investments, and foreign currency transactions	(291,779)	(2,103,618)	(2,570)	(317,446)	(6,776,866)	(496,697)	(486,754)	(369,870)	418,214	489,555	2,712,837	1,132,657
Net change in unrealized gain (loss) on investments, foreign currency translations, and foreign currency contracts	6,854,549	21,152,793	9,743,113	14,813,089	(4,595,166)	(16,711,415)	(74,394,896)	(11,731,503)	(4,156,148)	(673,345)	(1,871,880)	(1,826,413)
Increase (decrease) in net assets resulting from operations	$ 21,953,579	$ 33,853,088	$ 23,940,662	$ 28,088,322	$ 1,036,255	$ (6,755,673)	$ (65,332,117)	$ (3,430,800)	$ 3,952,438	$ 4,726,127	$ 5,037,161	$ 5,343,992
Net asset value per share as of the end of the quarter (in Dollars per share)	$ 17.04	$ 16.76	$ 16.55	$ 16.12	$ 14.96	$ 16	$ 16.71	$ 19.91	$ 20.06	$ 20.7	$ 20.65	$ 20.57

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event [Member] - USD ($)	1 Months Ended
	Jan. 22, 2024	Feb. 08, 2024	Jan. 31, 2024	Jan. 24, 2024
IPO [Member]
Subsequent Event [Line Items]
Common stock shares issued (in Shares)	5,450,000
Common stock, par value (in Dollars per share)	$ 0.001
Public offering price per share (in Dollars per share)	$ 16.45
Total net proceeds	$ 89,652,500
OMNIA Partners, LLC [Member]
Subsequent Event [Line Items]
Unfunded capital commitments fund				$ 223,269
Accession Risk Management Group, Inc. [Member]
Subsequent Event [Line Items]
Unfunded capital commitments fund			$ 33,214
Remaining unfunded commitment			$ 2,424,643
Aptean Inc [Member]
Subsequent Event [Line Items]
Unfunded capital commitments fund		$ 41,439
Remaining unfunded commitment		$ 810,041