you, Thank Rocco.
mentioned acquired the on As an level This close our expanding of an fund. our funds. quarter, last AUM, average investable we platform our had lasted institutional SMA doubled expenses across and reducing initial and
terms and be believe the sourcing We and grow We platform platform us team in more and to to that meaningful throughout our origination. market the expanded scale also of an the to of have the positions opportunity experience year.
portfolio also nonaccrual previous X portfolio completing X were investments companies initiative. X rotation I current would the the investments number quarter, have those made quarter in on to like X The we significant from reduced that address of headway in our across to in companies.
that at First, of on be XXX% are and to position minimal have we our principal off believe of representing remaining We stage our and this cost on have interest decided future recoveries to recovered write the Deluxe, X.X% to receive principal and date. position. likely
remains the all expected is PGi, nonaccrual. be value which revolver on recovered remaining For in to priority
written in as loans our off. and positions off and not the written those. are lien to those lien on realize have such, And any first We expected recovery second were
we progress the Bioplan positions hold significant excited a remaining we currently restructuring the on summary, In term next expect loan, the and and are prospects accrual bestly going company's loan balance completed X the during The equity. the take-back over months. forward. loan on about sheet priority in common term we're physicians XX nonaccruals the quarter.
million quarter. represented or NAV Equity declined $X.X decline. this X.X% this Our positions of majority a
believe a the back disappointing, bounce coming in this that see we we will While quarters. is
portfolio in value more. declined or $X.X which had companies million by We X
marked utility companies. to industry. investment to providing down in largest in results Their pressures market. our mark vegetation margin production management increased volumes we Techniplas ArborWorks. services by auto been due First, company ArborWorks weather We the position and challenged in is California, in have a the the our equity lower reduced in patterns
related our also Fusion We in market to model due in to position inputs changes marked conditions. down equity
X.XXx to Our X.XXx above gross our leverage was quarter X.Xx. guidance of this
X.XXx range. Our is which target was within the net leverage
to see expect generally we net As gross mentioned quarter, leverage last our converge. and
X.XXx. leverage XX, and and May gross our of net As X.XXx were
As base management portion previously X will with waive of fees management the associated stated, leverage. over we turn have of adviser the fee our
We distribution covered July of the June X, is of June record Board the quarter March to Directors a of XXXX, dividend payable June as a XXXX. stockholders share and per of on The XX, quarter dividend our distribution NII. for through expected X, quarterly next XXXX, with On its the earn of XX. May company ending declared supplemental XX $X.XX XX, per of XXXX, XXXX, of as X, payable July to on June $X.XX record stockholders share, to ended
ability of XXXX, to very optimistic capital we in into high-quality our continue half As deploy we about team's the credit. remain second
will growing origination Our gives club equity expanded new be more as with reach sponsors. valuable us to private and into us brings allow platform relationships meaningful partner and
an increasingly opportunities of a set market. provide Our to you, portfolio larger have our growth as in access we will investors, the diversified
stable Our has focused goal maintaining always has and capital a not preservation wavered on and dividend.
prepared the Q&A. remarks. Operator, open for concludes our line please This
