Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2023 | Aug. 01, 2023 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2023 | |
Document Fiscal Year Focus | 2023 | |
Document Fiscal Period Focus | Q2 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Title of 12(b) Security | Common Stock, $0.001 par value | |
Trading Symbol | BKCC | |
Security Exchange Name | NASDAQ | |
Entity Registrant Name | BLACKROCK CAPITAL INVESTMENT CORPORATION | |
Entity Central Index Key | 0001326003 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Shell Company | false | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Common Stock, Shares Outstanding | 72,571,907 | |
Entity Emerging Growth Company | false | |
Entity File Number | 814-00712 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 20-2725151 | |
Entity Address, Address Line One | 50 Hudson Yards | |
Entity Address, City or Town | New York | |
Entity Address, State or Province | NY | |
Entity Address, Postal Zip Code | 10001 | |
City Area Code | 212 | |
Local Phone Number | 810-5800 |
Statements of Assets and Liabil
Statements of Assets and Liabilities - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Assets | ||
Investments at fair value | $ 595,837,411 | $ 570,489,084 |
Cash and cash equivalents | 12,405,398 | 9,531,190 |
Interest, dividends and fees receivable | 6,836,319 | 5,515,446 |
Due from broker | 2,097,000 | 1,946,507 |
Deferred debt issuance costs | 1,347,337 | 1,055,117 |
Receivable for investments sold | 36,986 | 12,096 |
Prepaid expenses and other assets | 403,727 | 510,706 |
Total assets | 618,964,178 | 589,060,146 |
Liabilities | ||
Debt (net of deferred issuance costs of $828,843 and $996,839) | 283,171,157 | 253,003,161 |
Dividends payable | 7,257,191 | 7,257,191 |
Income incentive fees payable (see Note 3) | 7,165,434 | 3,403,349 |
Management fees payable | 2,221,908 | 2,186,540 |
Interest and debt related payables | 1,698,635 | 738,719 |
Interest Rate Swap at fair value | 1,445,045 | 1,332,299 |
Accrued administrative expenses | 288,454 | 397,299 |
Payable for investments purchased | 1,463 | 600,391 |
Accrued expenses and other liabilities | 1,685,832 | 1,618,844 |
Total liabilities | 304,935,119 | 270,537,793 |
Commitments and contingencies (see Note 9) | ||
Net assets | ||
Common stock, par value $.001 per share, 200,000,000 common shares authorized, 84,481,797 issued and 72,571,907 outstanding | 84,482 | 84,482 |
Paid-in capital in excess of par | 850,199,351 | 850,199,351 |
Distributable earnings (losses) | (462,881,072) | (458,387,778) |
Treasury stock at cost, 11,909,890 shares held | (73,373,702) | (73,373,702) |
Total net assets | 314,029,059 | 318,522,353 |
Total liabilities and net assets | $ 618,964,178 | $ 589,060,146 |
Latest NAV | $ 4.33 | $ 4.39 |
Non-Controlled, Non-Affiliated Investments | ||
Assets | ||
Investments at fair value | $ 580,838,411 | $ 551,686,646 |
Non-Controlled, Affiliated Investments | ||
Assets | ||
Investments at fair value | 0 | 3,574,438 |
Controlled Investments | ||
Assets | ||
Investments at fair value | $ 14,999,000 | $ 15,228,000 |
Statements of Assets and Liab_2
Statements of Assets and Liabilities (Parenthetical) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Cost | $ 690,597,257 | $ 658,300,164 |
Deferred issuance costs, debt | $ 828,843 | $ 996,839 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, shares issued | 84,481,797 | 84,481,797 |
Common stock, shares outstanding | 72,571,907 | 72,571,907 |
Treasury Stock, Common, Shares | 11,909,890 | 11,909,890 |
Non-Controlled, Non-Affiliated Investments | ||
Cost | $ 605,038,194 | $ 569,528,145 |
Non-Controlled, Affiliated Investments | ||
Cost | 1,139,598 | 3,849,638 |
Controlled Investments | ||
Cost | $ 84,419,465 | $ 84,922,381 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | ||
Investment income | |||||
Total investment income | $ 19,941,461 | $ 12,268,955 | $ 38,705,426 | $ 24,451,242 | |
Operating expenses | |||||
Interest and other debt expenses | 5,482,450 | 2,860,691 | 10,200,681 | 5,589,642 | |
Management fees | 2,221,908 | 1,947,167 | 4,352,380 | 4,007,031 | |
Incentive fees on income | 1,886,182 | 69,343 | 3,762,085 | 88,356 | |
Incentive fees on capital gains(1) | [1] | 0 | (1,073,068) | 0 | (1,544,569) |
Director fees | 299,375 | 153,125 | 449,000 | 306,250 | |
Administrative expenses | 288,454 | 299,262 | 581,088 | 664,769 | |
Professional fees | 249,734 | 207,489 | 443,161 | 510,346 | |
Insurance expense | 162,746 | 196,114 | 323,703 | 395,872 | |
Investment advisor expenses | 17,094 | 25,819 | 34,187 | 51,638 | |
Other operating expenses | 423,298 | 462,797 | 787,429 | 766,596 | |
Total expenses | 11,031,241 | 5,148,739 | 20,933,714 | 10,835,931 | |
Net investment income | [1] | 8,910,220 | 7,120,216 | 17,771,712 | 13,615,311 |
Net realized gain (loss): | |||||
Net realized gain (loss) | 195,593 | 0 | (404,104) | 825,913 | |
Net change in unrealized appreciation (depreciation): | |||||
Net change in unrealized appreciation (depreciation) on Interest Rate Swap | (564,538) | (198,694) | (397,754) | (198,694) | |
Net change in unrealized appreciation (depreciation) | (7,602,122) | (9,660,376) | (7,346,520) | (11,459,010) | |
Net realized and unrealized gain (loss) | (7,406,529) | (9,660,376) | (7,750,624) | (10,633,097) | |
Net increase (decrease) in net assets resulting from operations | $ 1,503,691 | $ (2,540,160) | $ 10,021,088 | $ 2,982,214 | |
Net investment income per share-basic | [1] | $ 0.12 | $ 0.1 | $ 0.24 | $ 0.18 |
Earnings (loss) per share - basic | [1] | $ 0.02 | $ (0.03) | $ 0.14 | $ 0.04 |
Weighted average shares outstanding - basic | 72,571,907 | 73,667,822 | 72,571,907 | 73,744,580 | |
Net investment income per share-diluted | [1],[2] | $ 0.12 | $ 0.1 | $ 0.24 | $ 0.18 |
Earnings (loss) per share - diluted | [1],[2] | $ 0.02 | $ (0.03) | $ 0.14 | $ 0.04 |
Weighted average shares outstanding - diluted | 72,571,907 | 87,860,082 | 72,571,907 | 89,329,839 | |
Non-Controlled, Non-Affiliated Investments | |||||
Investment income | |||||
Interest income (excluding PIK): | $ 18,541,747 | $ 11,646,011 | $ 35,954,222 | $ 23,252,914 | |
PIK interest income | 999,236 | 126,140 | 2,028,467 | 249,158 | |
PIK dividend income | 89,040 | 78,729 | 175,382 | 154,611 | |
Other income | 311,438 | 301,503 | 515,561 | 562,091 | |
Net realized gain (loss): | |||||
Net realized gain (loss) | 195,593 | 0 | 37,802 | 825,913 | |
Net change in unrealized appreciation (depreciation): | |||||
Net change in unrealized appreciation (depreciation) | (6,866,500) | (9,875,353) | (6,358,284) | (12,412,374) | |
Non-Controlled, Affiliated Investments | |||||
Investment income | |||||
PIK interest income | 0 | 116,572 | 31,794 | 232,468 | |
Net realized gain (loss): | |||||
Net realized gain (loss) | 0 | 0 | (441,906) | 0 | |
Net change in unrealized appreciation (depreciation): | |||||
Net change in unrealized appreciation (depreciation) | 0 | (352,787) | (864,398) | 229,671 | |
Controlled Investments | |||||
Net change in unrealized appreciation (depreciation): | |||||
Net change in unrealized appreciation (depreciation) | $ (171,084) | $ 766,458 | $ 273,916 | $ 922,387 | |
[1] Net investment income and per share amounts displayed above are net of the reversal for incentive fees on capital gains which is reflected on a hypothetical liquidation basis in accordance with GAAP for the three and six month periods ended June 30, 2022 (see Note 3). For the three and six month periods ended June 30, 2022, the impact of the hypothetical conversion of the 2022 Convertible Notes was antidilutive (see Note 8). |
Consolidated Statements of Chan
Consolidated Statements of Changes in Net Assets - USD ($) | 3 Months Ended | 6 Months Ended | |||||||||||
Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | ||||||||
Beginning balance | $ 319,782,559 | $ 318,522,353 | $ 346,904,442 | $ 349,651,973 | $ 318,522,353 | $ 349,651,973 | |||||||
Repurchase of common stock, value | (1,586,451) | (440,237) | |||||||||||
Issuance of common stock from the conversion of the 2022 Convertible Notes | 30,000 | ||||||||||||
Net investment income | 8,910,220 | [1] | 8,861,492 | 7,120,216 | [1] | 6,495,095 | 17,771,712 | [1] | 13,615,311 | [1] | |||
Net realized and unrealized gain (loss) | (7,406,529) | (344,095) | (9,660,376) | (972,721) | (7,750,624) | (10,633,097) | |||||||
Dividends to common stockholders | (7,257,191) | (7,257,191) | [2] | (7,363,184) | [2] | (7,380,270) | [2] | (14,514,382) | (14,743,454) | ||||
Ending balance | 314,029,059 | 319,782,559 | 335,444,647 | 346,904,442 | $ 314,029,059 | 335,444,647 | |||||||
Cumulative Effect of Adjustment | |||||||||||||
Beginning balance | [3] | (449,398) | $ (449,398) | ||||||||||
Accounting Standards Update [Extensible Enumeration] | ASU 2020-06 | ASU 2020-06 | |||||||||||
Common Stock | |||||||||||||
Beginning balance | $ 84,482 | $ 84,482 | $ 84,478 | $ 84,478 | $ 84,482 | $ 84,478 | |||||||
Beginning balance, Shares | 72,571,907 | 72,571,907 | 73,770,679 | 73,876,987 | 72,571,907 | 73,876,987 | |||||||
Repurchase of common stock, value | $ 0 | $ 0 | |||||||||||
Repurchase of common stock, Shares | (420,083) | (106,308) | |||||||||||
Issuance of common stock from the conversion of the 2022 Convertible Notes | $ 4 | ||||||||||||
Issuance of common stock from the conversion of the 2022 Convertible Notes, Shares | 3,546 | ||||||||||||
Net investment income | $ 0 | $ 0 | $ 0 | $ 0 | |||||||||
Net realized and unrealized gain (loss) | 0 | 0 | 0 | 0 | |||||||||
Dividends to common stockholders | 0 | 0 | [2] | 0 | [2] | 0 | [2] | ||||||
Ending balance | $ 84,482 | $ 84,482 | $ 84,482 | $ 84,478 | $ 84,482 | $ 84,482 | |||||||
Ending balance, Shares | 72,571,907 | 72,571,907 | 73,354,142 | 73,770,679 | 72,571,907 | 73,354,142 | |||||||
Common Stock | Cumulative Effect of Adjustment | |||||||||||||
Beginning balance | [3] | $ 0 | $ 0 | ||||||||||
Accounting Standards Update [Extensible Enumeration] | ASU 2020-06 | ||||||||||||
Paid in Capital in Excess of Par | |||||||||||||
Beginning balance | $ 850,199,351 | $ 850,199,351 | $ 848,022,547 | $ 852,360,178 | $ 850,199,351 | 852,360,178 | |||||||
Repurchase of common stock, value | 0 | 0 | |||||||||||
Issuance of common stock from the conversion of the 2022 Convertible Notes | 29,996 | ||||||||||||
Net investment income | 0 | 0 | 0 | 0 | |||||||||
Net realized and unrealized gain (loss) | 0 | 0 | 0 | 0 | |||||||||
Dividends to common stockholders | 0 | 0 | [2] | 0 | [2] | 0 | [2] | ||||||
Ending balance | 850,199,351 | 850,199,351 | 848,052,543 | 848,022,547 | 850,199,351 | 848,052,543 | |||||||
Paid in Capital in Excess of Par | Cumulative Effect of Adjustment | |||||||||||||
Beginning balance | [3] | $ (4,337,631) | (4,337,631) | ||||||||||
Accounting Standards Update [Extensible Enumeration] | ASU 2020-06 | ||||||||||||
Distributable Earnings (Loss) | |||||||||||||
Beginning balance | (457,127,572) | (458,387,778) | (432,272,960) | $ (434,303,297) | (458,387,778) | (434,303,297) | |||||||
Repurchase of common stock, value | 0 | 0 | |||||||||||
Issuance of common stock from the conversion of the 2022 Convertible Notes | 0 | ||||||||||||
Net investment income | 8,910,220 | 8,861,492 | 7,120,216 | 6,495,095 | |||||||||
Net realized and unrealized gain (loss) | (7,406,529) | (344,095) | (9,660,376) | (972,721) | |||||||||
Dividends to common stockholders | (7,257,191) | (7,257,191) | [2] | (7,363,184) | [2] | (7,380,270) | [2] | ||||||
Ending balance | (462,881,072) | (457,127,572) | (442,176,304) | (432,272,960) | (462,881,072) | (442,176,304) | |||||||
Distributable Earnings (Loss) | Cumulative Effect of Adjustment | |||||||||||||
Beginning balance | [3] | $ 3,888,233 | 3,888,233 | ||||||||||
Accounting Standards Update [Extensible Enumeration] | ASU 2020-06 | ||||||||||||
Treasury Stock | |||||||||||||
Beginning balance | (73,373,702) | (73,373,702) | (68,929,623) | $ (68,489,386) | (73,373,702) | (68,489,386) | |||||||
Repurchase of common stock, value | 1,586,451 | 440,237 | |||||||||||
Issuance of common stock from the conversion of the 2022 Convertible Notes | 0 | ||||||||||||
Net investment income | 0 | 0 | 0 | 0 | |||||||||
Net realized and unrealized gain (loss) | 0 | 0 | 0 | 0 | |||||||||
Dividends to common stockholders | 0 | 0 | [2] | 0 | [2] | 0 | [2] | ||||||
Ending balance | $ (73,373,702) | $ (73,373,702) | $ (70,516,074) | (68,929,623) | $ (73,373,702) | (70,516,074) | |||||||
Treasury Stock | Cumulative Effect of Adjustment | |||||||||||||
Beginning balance | [3] | $ 0 | $ 0 | ||||||||||
Accounting Standards Update [Extensible Enumeration] | ASU 2020-06 | ||||||||||||
[1] Net investment income and per share amounts displayed above are net of the reversal for incentive fees on capital gains which is reflected on a hypothetical liquidation basis in accordance with GAAP for the three and six month periods ended June 30, 2022 (see Note 3). Sources of dividends to stockholders will be adjusted on an annual basis, if necessary, and calculated in accordance with federal income tax regulations (see Note 2). For both the three month periods ended June 30, 2023 and March 31, 2023, it is estimated that there was no return of capital based on book income. See Note 4 for further information related to the adoption of ASU 2020-06. |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Net Assets (Parenthetical) - USD ($) | 3 Months Ended | ||
Jun. 30, 2023 | Mar. 31, 2023 | ||
Statement of Stockholders' Equity [Abstract] | |||
Total dividend | $ 7,257,191 | $ 7,257,191 | [1] |
Estimated tax return on capital distribution | $ 0 | $ 0 | |
[1] Sources of dividends to stockholders will be adjusted on an annual basis, if necessary, and calculated in accordance with federal income tax regulations (see Note 2). For both the three month periods ended June 30, 2023 and March 31, 2023, it is estimated that there was no return of capital based on book income. |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Operating activities | ||
Net increase (decrease) in net assets resulting from operations | $ 10,021,088 | $ 2,982,214 |
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities: | ||
Net realized (gain) loss | 404,104 | (825,913) |
Net change in unrealized (appreciation) depreciation of investments | 6,948,766 | 11,260,316 |
Net change in unrealized (appreciation) depreciation on Interest Rate Swap | 397,754 | 198,694 |
Interest and dividend income paid in kind | (2,235,643) | (636,237) |
Net amortization of investment discounts and premiums | (1,516,503) | (1,532,581) |
Amortization of deferred debt issuance costs | 445,104 | 668,747 |
Changes in assets and liabilities: | ||
Purchase of investments | (56,752,397) | (116,857,948) |
Proceeds from disposition of investments | 27,226,737 | 103,762,076 |
Decrease (increase) in interest, dividends and fees receivable | (744,265) | 921,005 |
Decrease (increase) in due from broker | (82,233) | (1,097,291) |
Decrease (increase) in receivable for investments sold | (24,890) | 609,516 |
Decrease (increase) in prepaid expenses and other assets | 106,979 | 409,973 |
Increase (decrease) in payable for investments purchased | (598,928) | (11,082,281) |
Increase (decrease) in interest and debt related payables | 959,916 | 137,774 |
Increase (decrease) in management fees payable | 35,368 | (175,352) |
Increase (decrease) in income incentive fees payable | 3,762,085 | (100,659) |
Increase (decrease) in accrued capital gains incentive fees | 0 | (1,544,569) |
Increase (decrease) in Interest Rate Swap at fair value | (353,268) | 0 |
Increase (decrease) in accrued administrative expenses | (108,845) | (84,963) |
Increase (decrease) in accrued expenses and other liabilities | 66,988 | (88,671) |
Net cash provided by (used in) operating activities | (12,042,083) | (13,076,150) |
Financing activities | ||
Repayment of 2022 Convertible Notes | 0 | (143,720,000) |
Proceeds from issuance of 2025 Private Placement Notes | 0 | 92,000,000 |
Draws on Credit Facility | 50,000,000 | 160,000,000 |
Repayments of Credit Facility draws | (20,000,000) | (68,000,000) |
Dividends paid to common stockholders | (14,514,382) | (14,773,242) |
Repurchase of common shares | 0 | (2,026,688) |
Payments of debt issuance costs | (569,327) | (796,172) |
Net cash provided by (used in) financing activities | 14,916,291 | 22,683,898 |
Net increase (decrease) in cash and cash equivalents | 2,874,208 | 9,607,748 |
Cash and cash equivalents at beginning of period | 9,531,190 | 12,750,121 |
Cash and cash equivalents at end of period | 12,405,398 | 22,357,869 |
Supplemental cash flow information | ||
Interest payments | 8,584,893 | 4,330,110 |
Tax payments | 81,001 | 60,464 |
Share issuance - conversion of 2022 Convertible Notes | $ 0 | $ 30,000 |
Consolidated Schedules of Inves
Consolidated Schedules of Investments (Unaudited) - USD ($) | 6 Months Ended | 12 Months Ended | |||||
Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |||||
Schedule Of Investments [Line Items] | |||||||
Cost | $ 690,597,257 | $ 658,300,164 | |||||
Fair Value | $ 595,837,411 | $ 570,489,084 | |||||
Investment, Identifier [Axis]: Cash and Cash Equivalents | |||||||
Schedule Of Investments [Line Items] | |||||||
Total Debt Investment | 4% | 3% | |||||
Fair Value | $ 12,405,398 | [1],[2],[3] | $ 9,531,190 | [4],[5] | |||
Investment, Identifier [Axis]: Cash and Investments | |||||||
Schedule Of Investments [Line Items] | |||||||
Total Debt Investment | 193.70% | 182.10% | |||||
Fair Value | $ 608,242,809 | [1],[2],[3] | $ 580,020,274 | [4],[5] | |||
Investment, Identifier [Axis]: Controlled Affiliate Security | |||||||
Schedule Of Investments [Line Items] | |||||||
Fair Value | 14,999,000 | [6] | 15,228,000 | [6],[7] | $ 21,927,071 | [7] | |
Investment, Identifier [Axis]: Controlled Affiliate Security | Gordon Brothers Finance Company | Common Stock | |||||||
Schedule Of Investments [Line Items] | |||||||
Fair Value | 0 | [6] | 0 | [7],[8] | 0 | [7] | |
Investment, Identifier [Axis]: Controlled Affiliate Security | Gordon Brothers Finance Company | Preferred Stock | |||||||
Schedule Of Investments [Line Items] | |||||||
Fair Value | 0 | [6] | 0 | [7],[8] | 0 | [7] | |
Investment, Identifier [Axis]: Controlled Affiliate Security | Gordon Brothers Finance Company | Unsecured Debt | |||||||
Schedule Of Investments [Line Items] | |||||||
Fair Value | $ 14,999,000 | [6] | $ 15,228,000 | [6],[7] | 21,927,071 | [7] | |
Investment, Identifier [Axis]: Controlled Affiliated Investments | |||||||
Schedule Of Investments [Line Items] | |||||||
Total Debt Investment | 4.80% | 4.80% | |||||
Investment, Identifier [Axis]: Debt Investments | |||||||
Schedule Of Investments [Line Items] | |||||||
Total Debt Investment | 188.50% | 175.90% | |||||
Cost | $ 631,409,768 | [2],[3],[9],[10] | $ 598,534,207 | [4],[5],[11] | |||
Fair Value | 591,905,479 | [1],[2],[3],[9] | 560,266,004 | [4],[5],[12] | |||
Investment, Identifier [Axis]: Debt Investments Automobiles | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | [4],[5],[11],[13] | 2,505,506 | |||||
Fair Value | [4],[5],[12],[13] | $ 2,535,420 | |||||
Investment, Identifier [Axis]: Debt Investments | Automobiles | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | [2],[3],[9],[10] | 2,347,567 | |||||
Fair Value | [1],[2],[3],[9] | $ 2,347,282 | |||||
Investment, Identifier [Axis]: Debt Investments | Automobiles | ALCV Purchaser, Inc. (AutoLenders) | First Lien Revolver | Quarterly LIBOR | Floor Rate 1.00% | Spread 6.75% | Total Coupon 11.39% | Maturity 4/15/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5],[13] | 6.75% | |||||
Total Coupon | [4],[5],[13] | 11.39% | |||||
Maturity | [4],[5],[13] | Apr. 15, 2026 | |||||
Principal | [4],[5],[13] | $ 233,430 | |||||
Cost | [4],[5],[11],[13] | 231,163 | |||||
Fair Value | [4],[5],[12],[13] | $ 233,430 | |||||
Investment, Identifier [Axis]: Debt Investments | Automobiles | ALCV Purchaser, Inc. (AutoLenders) | First Lien Revolver | Quarterly LIBOR | Floor Rate 1.00% | Spread 6.75% | Total Coupon 12.18% | Maturity 4/15/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 6.75% | |||||
Total Coupon | [2],[3],[9] | 12.18% | |||||
Maturity | [2],[3],[9] | Apr. 15, 2026 | |||||
Principal | [2],[3],[9] | $ 233,430 | |||||
Cost | [2],[3],[9],[10] | 231,528 | |||||
Fair Value | [1],[2],[3],[9] | $ 231,096 | |||||
Investment, Identifier [Axis]: Debt Investments | Automobiles | ALCV Purchaser, Inc. (AutoLenders) | First Lien Term Loan | Quarterly LIBOR | Floor Rate 1.00% | Spread 6.75% | Total Coupon 11.45% | Maturity 4/15/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5],[13] | 6.75% | |||||
Total Coupon | [4],[5],[13] | 11.45% | |||||
Maturity | [4],[5],[13] | Apr. 15, 2026 | |||||
Principal | [4],[5],[13] | $ 2,301,990 | |||||
Cost | [4],[5],[11],[13] | 2,274,343 | |||||
Fair Value | [4],[5],[12],[13] | $ 2,301,990 | |||||
Investment, Identifier [Axis]: Debt Investments | Automobiles | ALCV Purchaser, Inc. (AutoLenders) | First Lien Term Loan | Quarterly LIBOR | Floor Rate 1.00% | Spread 6.75% | Total Coupon 12.23% | Maturity 4/15/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 6.75% | |||||
Total Coupon | [2],[3],[9] | 12.23% | |||||
Maturity | [2],[3],[9] | Apr. 15, 2026 | |||||
Principal | [2],[3],[9] | $ 2,137,562 | |||||
Cost | [2],[3],[9],[10] | 2,116,039 | |||||
Fair Value | [1],[2],[3],[9] | $ 2,116,186 | |||||
Investment, Identifier [Axis]: Debt Investments | Building Products | Porcelain Acquisition Corporation (Paramount) | First Lien Term Loan | Quarterly LIBOR | Floor Rate 1.00% | Spread 5.75% | Total Coupon 10.48% | Maturity 4/30/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5],[13] | 5.75% | |||||
Total Coupon | [4],[5],[13] | 10.48% | |||||
Maturity | [4],[5],[13] | Apr. 30, 2027 | |||||
Principal | [4],[5],[13] | $ 2,514,995 | |||||
Cost | [4],[5],[11],[13] | 2,475,461 | |||||
Fair Value | [4],[5],[12],[13] | 2,530,084 | |||||
Investment, Identifier [Axis]: Debt Investments | Building Products | Porcelain Acquisition Corporation (Paramount) | First Lien Term Loan | Quarterly SOFR | Floor Rate 1.00% | Spread 5.75% | Total Coupon 11.34% | Maturity 4/30/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 5.75% | |||||
Total Coupon | [2],[3],[9] | 11.34% | |||||
Maturity | [2],[3],[9] | Apr. 30, 2027 | |||||
Principal | [2],[3],[9] | $ 2,499,699 | |||||
Cost | [2],[3],[9],[10] | 2,465,047 | |||||
Fair Value | [1],[2],[3],[9] | 2,439,706 | |||||
Investment, Identifier [Axis]: Debt Investments | Capital Markets | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | 1,036,437 | [2],[3],[9],[10] | 1,029,438 | [4],[5],[11],[13] | |||
Fair Value | $ 1,064,728 | [1],[2],[3],[9] | $ 1,065,228 | [4],[5],[12],[13] | |||
Investment, Identifier [Axis]: Debt Investments | Capital Markets | Pico Quantitative Trading, LLC | First Lien Incremental Term Loan | Quarterly SOFR | Floor Rate 1.5% | Spread 7.25% | Total Coupon 11.61% | Maturity 2/7/2025 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1.50% | |||||
Spread | [4],[5],[13] | 7.25% | |||||
Total Coupon | [4],[5],[13] | 11.61% | |||||
Maturity | [4],[5],[13] | Feb. 07, 2025 | |||||
Principal | [4],[5],[13] | $ 560,228 | |||||
Cost | [4],[5],[11],[13] | 540,020 | |||||
Fair Value | [4],[5],[12],[13] | $ 560,228 | |||||
Investment, Identifier [Axis]: Debt Investments | Capital Markets | Pico Quantitative Trading, LLC | First Lien Incremental Term Loan | Quarterly SOFR | Floor Rate 1.5% | Spread 7.25% | Total Coupon 12.56% | Maturity 2/7/2025 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1.50% | |||||
Spread | [2],[3],[9] | 7.25% | |||||
Total Coupon | [2],[3],[9] | 12.56% | |||||
Maturity | [2],[3],[9] | Feb. 07, 2025 | |||||
Principal | [2],[3],[9] | $ 560,228 | |||||
Cost | [2],[3],[9],[10] | 544,549 | |||||
Fair Value | [1],[2],[3],[9] | $ 560,228 | |||||
Investment, Identifier [Axis]: Debt Investments | Capital Markets | Pico Quantitative Trading, LLC | First Lien Term Loan (1.0% Exit Fee) | Quarterly SOFR | Floor Rate 1.5% | Spread 7.25% | Total Coupon 11.98% | Maturity 2/7/2025 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1.50% | |||||
Spread | [4],[5],[13] | 7.25% | |||||
Total Coupon | [4],[5],[13] | 11.98% | |||||
Maturity | [4],[5],[13] | Feb. 07, 2025 | |||||
Principal | [4],[5],[13] | $ 500,000 | |||||
Cost | [4],[5],[11],[13] | 489,418 | |||||
Fair Value | [4],[5],[12],[13] | 505,000 | |||||
Investment, Identifier [Axis]: Debt Investments | Capital Markets | Pico Quantitative Trading, LLC | First Lien Term Loan (1.0% Exit Fee) | Quarterly SOFR | Floor Rate 1.5% | Spread 7.25% | Total Coupon 12.75% | Maturity 2/7/2025 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1.50% | |||||
Spread | [2],[3],[9] | 7.25% | |||||
Total Coupon | [2],[3],[9] | 12.75% | |||||
Maturity | [2],[3],[9] | Feb. 07, 2025 | |||||
Principal | [2],[3],[9] | $ 500,000 | |||||
Cost | [2],[3],[9],[10] | 491,888 | |||||
Fair Value | [1],[2],[3],[9] | 504,500 | |||||
Investment, Identifier [Axis]: Debt Investments | Commercial Services & Supplies | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | 7,112,894 | [2],[3],[9],[10] | 6,652,192 | [4],[5],[11],[13] | |||
Fair Value | $ 6,775,507 | [1],[2],[3],[9] | $ 6,236,204 | [4],[5],[12],[13] | |||
Investment, Identifier [Axis]: Debt Investments | Commercial Services & Supplies | Kellermeyer Bergensons Services, LLC | First Lien Delayed Draw Term Loan A | Quarterly LIBOR | Floor Rate 1.00% | Spread 6.00% | Total Coupon 10.41% | Maturity 11/7/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5],[13] | 6% | |||||
Total Coupon | [4],[5],[13] | 10.41% | |||||
Maturity | [4],[5],[13] | Nov. 07, 2026 | |||||
Principal | [4],[5],[13] | $ 348,708 | |||||
Cost | [4],[5],[11],[13] | 346,720 | |||||
Fair Value | [4],[5],[12],[13] | $ 313,140 | |||||
Investment, Identifier [Axis]: Debt Investments | Commercial Services & Supplies | Kellermeyer Bergensons Services, LLC | First Lien Delayed Draw Term Loan A | Quarterly LIBOR | Floor Rate 1.00% | Spread 6.00% | Total Coupon 11.27% | Maturity 11/7/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 6% | |||||
Total Coupon | [2],[3],[9] | 11.27% | |||||
Maturity | [2],[3],[9] | Nov. 07, 2026 | |||||
Principal | [2],[3],[9] | $ 346,911 | |||||
Cost | [2],[3],[9],[10] | 345,363 | |||||
Fair Value | [1],[2],[3],[9] | $ 320,199 | |||||
Investment, Identifier [Axis]: Debt Investments | Commercial Services & Supplies | Kellermeyer Bergensons Services, LLC | First Lien Delayed Draw Term Loan B | Quarterly LIBOR | Floor Rate 1.00% | Spread 6.00% | Total Coupon 10.41% | Maturity 11/7/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5],[13] | 6% | |||||
Total Coupon | [4],[5],[13] | 10.41% | |||||
Maturity | [4],[5],[13] | Nov. 07, 2026 | |||||
Principal | [4],[5],[13] | $ 482,944 | |||||
Cost | [4],[5],[11],[13] | 480,224 | |||||
Fair Value | [4],[5],[12],[13] | $ 433,684 | |||||
Investment, Identifier [Axis]: Debt Investments | Commercial Services & Supplies | Kellermeyer Bergensons Services, LLC | First Lien Delayed Draw Term Loan B | Quarterly LIBOR | Floor Rate 1.00% | Spread 6.00% | Total Coupon 11.27% | Maturity 11/7/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 6% | |||||
Total Coupon | [2],[3],[9] | 11.27% | |||||
Maturity | [2],[3],[9] | Nov. 07, 2026 | |||||
Principal | [2],[3],[9] | $ 480,498 | |||||
Cost | [2],[3],[9],[10] | 478,383 | |||||
Fair Value | [1],[2],[3],[9] | $ 443,500 | |||||
Investment, Identifier [Axis]: Debt Investments | Commercial Services & Supplies | Kellermeyer Bergensons Services, LLC | First Lien Term Loan | Quarterly LIBOR | Floor Rate 1.00% | Spread 6.00% | Total Coupon 10.41% | Maturity 11/7/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5],[13] | 6% | |||||
Total Coupon | [4],[5],[13] | 10.41% | |||||
Maturity | [4],[5],[13] | Nov. 07, 2026 | |||||
Principal | [4],[5],[13] | $ 1,584,967 | |||||
Cost | [4],[5],[11],[13] | 1,576,423 | |||||
Fair Value | [4],[5],[12],[13] | $ 1,423,301 | |||||
Investment, Identifier [Axis]: Debt Investments | Commercial Services & Supplies | Kellermeyer Bergensons Services, LLC | First Lien Term Loan | Quarterly LIBOR | Floor Rate 1.00% | Spread 6.00% | Total Coupon 11.27% | Maturity 11/7/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 6% | |||||
Total Coupon | [2],[3],[9] | 11.27% | |||||
Maturity | [2],[3],[9] | Nov. 07, 2026 | |||||
Principal | [2],[3],[9] | $ 1,576,797 | |||||
Cost | [2],[3],[9],[10] | 1,570,202 | |||||
Fair Value | [1],[2],[3],[9] | $ 1,455,384 | |||||
Investment, Identifier [Axis]: Debt Investments | Commercial Services & Supplies | Pueblo Mechanical and Controls, LLC | First Lien Delayed Draw Term Loan | Quarterly SOFR | Floor Rate 0.75% | Spread 6.00% | Total Coupon 10.49% | Maturity 8/23/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14] | 0.75% | |||||
Spread | [4],[5],[13],[14] | 6% | |||||
Total Coupon | [4],[5],[13],[14] | 10.49% | |||||
Maturity | [4],[5],[13],[14] | Aug. 23, 2028 | |||||
Principal | [4],[5],[13],[14] | $ 357,991 | |||||
Cost | [4],[5],[11],[13],[14] | 342,382 | |||||
Fair Value | [4],[5],[12],[13],[14] | $ 335,983 | |||||
Investment, Identifier [Axis]: Debt Investments | Commercial Services & Supplies | Pueblo Mechanical and Controls, LLC | First Lien Delayed Draw Term Loan | Quarterly SOFR | Floor Rate 0.75% | Spread 6.00% | Total Coupon 11.26% | Maturity 8/23/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 0.75% | |||||
Spread | [2],[3],[9],[15] | 6% | |||||
Total Coupon | [2],[3],[9],[15] | 11.15% | |||||
Maturity | [2],[3],[9],[15] | Aug. 23, 2028 | |||||
Principal | [2],[3],[9],[15] | $ 743,919 | |||||
Cost | [2],[3],[9],[10],[15] | 724,793 | |||||
Fair Value | [1],[2],[3],[9],[15] | $ 728,003 | |||||
Investment, Identifier [Axis]: Debt Investments | Commercial Services & Supplies | Pueblo Mechanical and Controls, LLC | First Lien Revolver | PRIME | Floor Rate 0.75% | Spread 5.00% | Total Coupon 13.25% | Maturity 8/23/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 0.75% | |||||
Spread | [2],[3],[9],[15] | 5% | |||||
Total Coupon | [2],[3],[9],[15] | 13.25% | |||||
Maturity | [2],[3],[9],[15] | Aug. 23, 2027 | |||||
Principal | [2],[3],[9],[15] | $ 88,789 | |||||
Cost | [2],[3],[9],[10],[15] | 84,110 | |||||
Fair Value | [1],[2],[3],[9],[15] | $ 85,060 | |||||
Investment, Identifier [Axis]: Debt Investments | Commercial Services & Supplies | Pueblo Mechanical and Controls, LLC | First Lien Revolver | Quarterly SOFR | Floor Rate 0.75% | Spread 6.00% | Total Coupon 10.32% | Maturity 8/23/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14] | 0.75% | |||||
Spread | [4],[5],[13],[14] | 6% | |||||
Total Coupon | [4],[5],[13],[14] | 10.32% | |||||
Maturity | [4],[5],[13],[14] | Aug. 23, 2027 | |||||
Principal | [4],[5],[13],[14] | $ 0 | |||||
Cost | (5,182) | ||||||
Fair Value | [4],[5],[12],[13],[14] | $ (5,128) | |||||
Investment, Identifier [Axis]: Debt Investments | Commercial Services & Supplies | Pueblo Mechanical and Controls, LLC | First Lien Term Loan | Quarterly SOFR | Floor Rate 0.75% | Spread 6.00% | Total Coupon 10.32% | Maturity 8/23/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 0.75% | |||||
Spread | [4],[5],[13] | 6% | |||||
Total Coupon | [4],[5],[13] | 10.32% | |||||
Maturity | [4],[5],[13] | Aug. 23, 2028 | |||||
Principal | [4],[5],[13] | $ 1,366,200 | |||||
Cost | [4],[5],[11],[13] | 1,333,250 | |||||
Fair Value | [4],[5],[12],[13] | $ 1,334,367 | |||||
Investment, Identifier [Axis]: Debt Investments | Commercial Services & Supplies | Pueblo Mechanical and Controls, LLC | First Lien Term Loan | Quarterly SOFR | Floor Rate 0.75% | Spread 6.00% | Total Coupon 11.16% | Maturity 8/23/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0.75% | |||||
Spread | [2],[3],[9] | 6% | |||||
Total Coupon | [2],[3],[9] | 11.16% | |||||
Maturity | [2],[3],[9] | Aug. 23, 2028 | |||||
Principal | [2],[3],[9] | $ 1,359,352 | |||||
Cost | [2],[3],[9],[10] | 1,329,791 | |||||
Fair Value | [1],[2],[3],[9] | $ 1,336,378 | |||||
Investment, Identifier [Axis]: Debt Investments | Commercial Services & Supplies | Thermostat Purchaser III, Inc. (Reedy Industries) | Second Lien Delayed Draw Term Loan | Quarterly LIBOR | Floor Rate 0.75% | Spread 7.25% | Total Coupon 11.98% | Maturity 8/31/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14] | 0.75% | |||||
Spread | [4],[5],[13],[14] | 7.25% | |||||
Total Coupon | [4],[5],[13],[14] | 11.98% | |||||
Maturity | [4],[5],[13],[14] | Aug. 31, 2029 | |||||
Principal | [4],[5],[13],[14] | $ 0 | |||||
Cost | [4],[5],[11],[13],[14] | (2,797) | |||||
Fair Value | [4],[5],[12],[13],[14] | $ (31,327) | |||||
Investment, Identifier [Axis]: Debt Investments | Commercial Services & Supplies | Thermostat Purchaser III, Inc. (Reedy Industries) | Second Lien Delayed Draw Term Loan | Quarterly SOfR | Floor Rate 0.75% | Spread 7.25% | Total Coupon 12.66% | Maturity 8/31/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 0.75% | |||||
Spread | [2],[3],[9],[15] | 7.25% | |||||
Total Coupon | [2],[3],[9],[15] | 12.66% | |||||
Maturity | [2],[3],[9],[15] | Aug. 31, 2029 | |||||
Principal | [2],[3],[9],[15] | $ 0 | |||||
Cost | [2],[3],[9],[10],[15] | (2,589) | |||||
Fair Value | [1],[2],[3],[9],[15] | $ (30,432) | |||||
Investment, Identifier [Axis]: Debt Investments | Commercial Services & Supplies | Thermostat Purchaser III, Inc. (Reedy Industries) | Second Lien Term Loan | Quarterly LIBOR | Floor Rate 0.75% | Spread 7.25% | Total Coupon 11.98% | Maturity 8/31/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 0.75% | |||||
Spread | [4],[5],[13] | 7.25% | |||||
Total Coupon | [4],[5],[13] | 11.98% | |||||
Maturity | [4],[5],[13] | Aug. 31, 2029 | |||||
Principal | [4],[5],[13] | $ 2,615,252 | |||||
Cost | [4],[5],[11],[13] | 2,581,172 | |||||
Fair Value | [4],[5],[12],[13] | 2,432,184 | |||||
Investment, Identifier [Axis]: Debt Investments | Commercial Services & Supplies | Thermostat Purchaser III, Inc. (Reedy Industries) | Second Lien Term Loan | Quarterly SOFR | Floor Rate 0.75% | Spread 7.25% | Total Coupon 12.66% | Maturity 8/31/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0.75% | |||||
Spread | [2],[3],[9] | 7.25% | |||||
Total Coupon | [2],[3],[9] | 12.66% | |||||
Maturity | [2],[3],[9] | Aug. 31, 2029 | |||||
Principal | [2],[3],[9] | $ 2,615,252 | |||||
Cost | [2],[3],[9],[10] | 2,582,841 | |||||
Fair Value | [1],[2],[3],[9] | 2,437,415 | |||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | 14,879,112 | 14,953,763 | [4],[5],[11],[13] | ||||
Fair Value | $ 14,545,552 | $ 14,666,740 | [4],[5],[12],[13] | ||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering CSG Buyer, Inc. (Core States) | First Lien Revolver | Quarterly SOFR | Floor Rate 1.00% | Spread 6.00% | Total Coupon 10.84% | Maturity 3/31/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14] | 1% | |||||
Spread | [4],[5],[13],[14] | 6% | |||||
Total Coupon | [4],[5],[13],[14] | 10.84% | |||||
Maturity | [4],[5],[13],[14] | Mar. 31, 2028 | |||||
Principal | [4],[5],[13],[14] | $ 0 | |||||
Cost | [4],[5],[11],[12],[13],[14] | (10,731) | |||||
Fair Value | [4],[5],[12],[13],[14] | $ (19,316) | |||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering | CSG Buyer, Inc. (Core States) | First Lien Delayed Draw Term Loan | Quarterly SOFR | Floor Rate 1.00% | Spread 6.00% | Total Coupon 10.84% | Maturity 3/31/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14] | 1% | |||||
Spread | [4],[5],[13],[14] | 6% | |||||
Total Coupon | [4],[5],[13],[14] | 10.84% | |||||
Maturity | [4],[5],[13],[14] | Mar. 31, 2028 | |||||
Principal | [4],[5],[13],[14] | $ 0 | |||||
Cost | [4],[5],[11],[13],[14] | (10,731) | |||||
Fair Value | [4],[5],[12],[13],[14] | $ (38,632) | |||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering | CSG Buyer, Inc. (Core States) | First Lien Delayed Draw Term Loan | Quarterly SOFR | Floor Rate 1.00% | Spread 6.00% | Total Coupon 11.50% | Maturity 3/31/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 1% | |||||
Spread | [2],[3],[9],[15] | 6% | |||||
Total Coupon | [2],[3],[9],[15] | 11.50% | |||||
Maturity | [2],[3],[9],[15] | Mar. 31, 2028 | |||||
Principal | [2],[3],[9],[15] | $ 0 | |||||
Cost | [2],[3],[9],[10],[15] | (10,731) | |||||
Fair Value | [1],[2],[3],[9],[15] | $ (34,340) | |||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering | CSG Buyer, Inc. (Core States) | First Lien Revolver | Quarterly SOFR | Floor Rate 1.00% | Spread 6.00% | Total Coupon 11.50% | Maturity 3/31/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 1% | |||||
Spread | [2],[3],[9],[15] | 6% | |||||
Total Coupon | [2],[3],[9],[15] | 11.50% | |||||
Maturity | [2],[3],[9],[15] | Mar. 31, 2028 | |||||
Principal | [2],[3],[9],[15] | $ 0 | |||||
Cost | [2],[3],[9],[10],[15] | (10,731) | |||||
Fair Value | [1],[2],[3],[9],[15] | $ (17,170) | |||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering | CSG Buyer, Inc. (Core States) | First Lien Term Loan | Quarterly SOFR | Floor Rate 1.00% | Spread 6.00% | Total Coupon 10.84% | Maturity 3/31/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5],[13] | 6% | |||||
Total Coupon | [4],[5],[13] | 10.84% | |||||
Maturity | [4],[5],[13] | Mar. 31, 2028 | |||||
Principal | [4],[5],[13] | $ 3,275,107 | |||||
Cost | [4],[5],[11],[13] | 3,209,605 | |||||
Fair Value | [4],[5],[12],[13] | $ 3,157,203 | |||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering | CSG Buyer, Inc. (Core States) | First Lien Term Loan | Quarterly SOFR | Floor Rate 1.00% | Spread 6.00% | Total Coupon 11.50% | Maturity 3/31/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 6% | |||||
Total Coupon | [2],[3],[9] | 11.50% | |||||
Maturity | [2],[3],[9] | Mar. 31, 2028 | |||||
Principal | [2],[3],[9] | $ 3,258,608 | |||||
Cost | [2],[3],[9],[10] | 3,193,436 | |||||
Fair Value | [1],[2],[3],[9] | $ 3,154,332 | |||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering | Geo Parent Corporation | First Lien Term Loan | Semiannually SOFR | Spread 5.25% | Total Coupon 10.17% | Maturity 12/19/2025 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0% | |||||
Spread | [2],[3],[9] | 5.25% | |||||
Total Coupon | [2],[3],[9] | 10.17% | |||||
Maturity | [2],[3],[9] | Dec. 19, 2025 | |||||
Principal | [2],[3],[9] | $ 739,091 | |||||
Cost | [2],[3],[9],[10] | 726,008 | |||||
Fair Value | [1],[2],[3],[9] | $ 713,223 | |||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering | Homerenew Buyer, Inc. (Project Dream) | First Lien Delayed Draw Term Loan | Monthly SOFR | Floor Rate 1.00% | Spread 6.50% | Total Coupon 11.73% | Maturity 11/23/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15],[16] | 1% | |||||
Spread | [2],[3],[9],[15],[16] | 6.50% | |||||
Total Coupon | [2],[3],[9],[15],[16] | 11.73% | |||||
Maturity | [2],[3],[9],[15],[16] | Nov. 23, 2027 | |||||
Principal | [2],[3],[9],[15],[16] | $ 4,957,392 | |||||
Cost | [2],[3],[9],[10],[15],[16] | 4,880,541 | |||||
Fair Value | [1],[2],[3],[9],[15],[16] | $ 4,744,224 | |||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering | Homerenew Buyer, Inc. (Project Dream) | First Lien Delayed Draw Term Loan | Semiannually SOFR | Floor Rate 1.00% | Spread 6.50% | Total Coupon 11.36% | Maturity 11/23/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14] | 1% | |||||
Spread | [4],[5],[13],[14] | 6.50% | |||||
Total Coupon | [4],[5],[13],[14] | 11.36% | |||||
Maturity | [4],[5],[13],[14] | Nov. 23, 2027 | |||||
Principal | [4],[5],[13],[14] | $ 4,900,908 | |||||
Cost | [4],[5],[11],[13],[14] | 4,795,212 | |||||
Fair Value | [4],[5],[12],[13],[14] | $ 4,684,152 | |||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering | Homerenew Buyer, Inc. (Project Dream) | First Lien Revolver | Monthly SOFR | Floor Rate 1.00% | Spread 6.50% | Total Coupon 11.12% | Maturity 11/23/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14] | 1% | |||||
Spread | [4],[5],[13],[14] | 6.50% | |||||
Total Coupon | [4],[5],[13],[14] | 11.12% | |||||
Maturity | [4],[5],[13],[14] | Nov. 23, 2027 | |||||
Principal | [4],[5],[13],[14] | $ 240,763 | |||||
Cost | [4],[5],[11],[13],[14] | 224,479 | |||||
Fair Value | [4],[5],[12],[13],[14] | $ 201,038 | |||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering | Homerenew Buyer, Inc. (Project Dream) | First Lien Revolver | Monthly SOFR | Floor Rate 1.00% | Spread 6.50% | Total Coupon 11.69% | Maturity 11/23/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 1% | |||||
Spread | [2],[3],[9],[15] | 6.50% | |||||
Total Coupon | [2],[3],[9],[15] | 11.69% | |||||
Maturity | [2],[3],[9],[15] | Nov. 23, 2027 | |||||
Principal | [2],[3],[9],[15] | $ 963,053 | |||||
Cost | [2],[3],[9],[10],[15] | 948,844 | |||||
Fair Value | [1],[2],[3],[9],[15] | $ 911,289 | |||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering | Homerenew Buyer, Inc. (Project Dream) | First Lien Term Loan | Monthly SOFR | Floor Rate 1.00% | Spread 6.50% | Total Coupon 11.70% | Maturity 11/23/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 1% | |||||
Spread | [2],[3],[9],[15] | 6.50% | |||||
Total Coupon | [2],[3],[9],[15] | 11.70% | |||||
Maturity | [2],[3],[9],[15] | Nov. 23, 2027 | |||||
Principal | [2],[3],[9],[15] | $ 3,547,777 | |||||
Cost | [2],[3],[9],[10],[15] | 3,471,905 | |||||
Fair Value | [1],[2],[3],[9],[15] | $ 3,395,223 | |||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering | Homerenew Buyer, Inc. (Project Dream) | First Lien Term Loan | Semiannually SOFR | Floor Rate 1.00% | Spread 6.50% | Total Coupon 11.54% | Maturity 11/23/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5],[13] | 6.50% | |||||
Total Coupon | [4],[5],[13] | 11.54% | |||||
Maturity | [4],[5],[13] | Nov. 23, 2027 | |||||
Principal | [4],[5],[13] | $ 3,565,730 | |||||
Cost | [4],[5],[11],[13] | 3,482,162 | |||||
Fair Value | [4],[5],[12],[13] | $ 3,448,061 | |||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering | LJ Avalon Holdings, LLC (Ardurra) | First Lien Delayed Draw Term Loan | Monthly SOFR | Floor Rate 1.00% | Spread 6.50% | Total Coupon 11.51% | Maturity 2/1/2030 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 1% | |||||
Spread | [2],[3],[9],[15] | 6.50% | |||||
Total Coupon | [2],[3],[9],[15] | 11.51% | |||||
Maturity | [2],[3],[9],[15] | Feb. 01, 2030 | |||||
Principal | [2],[3],[9],[15] | $ 0 | |||||
Cost | [2],[3],[9],[10],[15] | (10,020) | |||||
Fair Value | [1],[2],[3],[9],[15] | $ (17,754) | |||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering | LJ Avalon Holdings, LLC (Ardurra) | First Lien Revolver | Monthly SOFR | Floor Rate 1.00% | Spread 6.50% | Total Coupon 11.51% | Maturity 2/1/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 1% | |||||
Spread | [2],[3],[9],[15] | 6.50% | |||||
Total Coupon | [2],[3],[9],[15] | 11.51% | |||||
Maturity | [2],[3],[9],[15] | Feb. 01, 2029 | |||||
Principal | [2],[3],[9],[15] | $ 0 | |||||
Cost | [2],[3],[9],[10],[15] | (7,936) | |||||
Fair Value | [1],[2],[3],[9],[15] | $ (7,101) | |||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering | LJ Avalon Holdings, LLC (Ardurra) | First Lien Term Loan | Monthly SOFR | Floor Rate 1.00% | Spread 6.50% | Total Coupon 11.51% | Maturity 2/1/2030 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 6.50% | |||||
Total Coupon | [2],[3],[9] | 11.51% | |||||
Maturity | [2],[3],[9] | Feb. 01, 2030 | |||||
Principal | [2],[3],[9] | $ 1,747,309 | |||||
Cost | [2],[3],[9],[10] | 1,697,796 | |||||
Fair Value | [1],[2],[3],[9] | 1,703,626 | |||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering | Sunland Asphalt & Construction, LLC | First Lien Delayed Draw Term Loan | Semiannually LIBOR | Floor Rate 1.00% | Spread 6.00% | Total Coupon 11.15% | Maturity 1/13/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5],[13] | 6% | |||||
Total Coupon | [4],[5],[13] | 11.15% | |||||
Maturity | [4],[5],[13] | Jan. 13, 2026 | |||||
Principal | [4],[5],[13] | $ 832,161 | |||||
Cost | [4],[5],[11],[13] | 821,187 | |||||
Fair Value | [4],[5],[12],[13] | $ 813,853 | |||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering | Sunland Asphalt & Construction, LLC | First Lien Term Loan | Semiannually LIBOR | Floor Rate 1.00% | Spread 6.00% | Total Coupon 11.15% | Maturity 1/13/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5],[13] | 6% | |||||
Total Coupon | [4],[5],[13] | 11.15% | |||||
Maturity | [4],[5],[13] | Jan. 13, 2026 | |||||
Principal | [4],[5],[13] | $ 2,474,828 | |||||
Cost | [4],[5],[11],[13] | 2,442,580 | |||||
Fair Value | [4],[5],[12],[13] | 2,420,381 | |||||
Investment, Identifier [Axis]: Debt Investments | Consumer Finance | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | 11,380,750 | [2],[3],[9],[10] | 7,590,711 | [4],[5],[11],[13] | |||
Fair Value | $ 11,263,573 | [1],[2],[3],[9] | $ 7,527,989 | [4],[5],[12],[13] | |||
Investment, Identifier [Axis]: Debt Investments | Consumer Finance | Freedom Financial Network Funding, LLC | First Lien Delayed Draw Term Loan | Semiannually SOFR | Floor Rate 1.00% | Spread 9.00% | Total Coupon 13.95% | Maturity 9/21/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14] | 1% | |||||
Spread | [4],[5],[13],[14] | 9% | |||||
Total Coupon | [4],[5],[13],[14] | 13.95% | |||||
Maturity | [4],[5],[13],[14] | Sep. 21, 2027 | |||||
Principal | [4],[5],[13],[14] | $ 0 | |||||
Cost | [4],[5],[11],[13],[14] | (20,519) | |||||
Fair Value | [4],[5],[12],[13],[14] | $ (51,933) | |||||
Investment, Identifier [Axis]: Debt Investments | Consumer Finance | Freedom Financial Network Funding, LLC | First Lien Delayed Draw Term Loan | Semiannually SOFR | Floor Rate 1.00% | Spread 9.00% | Total Coupon 14.20% | Maturity 9/21/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 1% | |||||
Spread | [2],[3],[9],[15] | 9% | |||||
Total Coupon | [2],[3],[9],[15] | 14.20% | |||||
Maturity | [2],[3],[9],[15] | Sep. 21, 2027 | |||||
Principal | [2],[3],[9],[15] | $ 1,731,112 | |||||
Cost | [2],[3],[9],[10],[15] | 1,691,402 | |||||
Fair Value | [1],[2],[3],[9],[15] | $ 1,661,867 | |||||
Investment, Identifier [Axis]: Debt Investments | Consumer Finance | Freedom Financial Network Funding, LLC | First Lien Term Loan | Semiannually SOFR | Floor Rate 1.00% | Spread 9.00% | Total Coupon 13.95% | Maturity 9/21/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5],[13] | 9% | |||||
Total Coupon | [4],[5],[13] | 13.95% | |||||
Maturity | [4],[5],[13] | Sep. 21, 2027 | |||||
Principal | [4],[5],[13] | $ 5,193,335 | |||||
Cost | [4],[5],[11],[13] | 5,068,461 | |||||
Fair Value | [4],[5],[12],[13] | $ 5,037,535 | |||||
Investment, Identifier [Axis]: Debt Investments | Consumer Finance | Freedom Financial Network Funding, LLC | First Lien Term Loan | Semiannually SOFR | Floor Rate 1.00% | Spread 9.00% | Total Coupon 14.54% | Maturity 9/21/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 9% | |||||
Total Coupon | [2],[3],[9] | 14.54% | |||||
Maturity | [2],[3],[9] | Sep. 21, 2027 | |||||
Principal | [2],[3],[9] | $ 5,193,335 | |||||
Cost | [2],[3],[9],[10] | 5,076,429 | |||||
Fair Value | [1],[2],[3],[9] | $ 4,985,601 | |||||
Investment, Identifier [Axis]: Debt Investments | Consumer Finance | Lucky US BuyerCo LLC (Global Payments) | First Lien Revolver | Quarterly SOFR | Floor Rate 1.00% | Spread 7.50% | Total Coupon 12.39% | Maturity 3/30/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | 1% | ||||||
Spread | 7.50% | ||||||
Total Coupon | 12.39% | ||||||
Maturity | Mar. 30, 2029 | ||||||
Principal | |||||||
Cost | (8,013) | ||||||
Fair Value | $ (7,976) | ||||||
Investment, Identifier [Axis]: Debt Investments | Consumer Finance | Lucky US BuyerCo LLC (Global Payments) | First Lien Term Loan | Quarterly SOFR | Floor Rate 1.00% | Spread 7.50% | Total Coupon 12.39% | Maturity 3/30/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | 1% | ||||||
Spread | 7.50% | ||||||
Total Coupon | 12.39% | ||||||
Maturity | Mar. 30, 2029 | ||||||
Principal | $ 2,170,647 | ||||||
Cost | 2,107,127 | ||||||
Fair Value | $ 2,108,350 | ||||||
Investment, Identifier [Axis]: Debt Investments | Consumer Finance | Money Transfer Acquisition Inc. | First Lien Term Loan | Monthly SOFR | Floor Rate 1.00% | Spread 8.25% | Total Coupon 12.67% | Maturity 12/14/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5],[13] | 8.25% | |||||
Total Coupon | [4],[5],[13] | 12.67% | |||||
Maturity | [4],[5],[13] | Dec. 14, 2027 | |||||
Principal | [4],[5],[13] | $ 2,594,273 | |||||
Cost | [4],[5],[11],[13] | 2,542,769 | |||||
Fair Value | [4],[5],[12],[13] | 2,542,387 | |||||
Investment, Identifier [Axis]: Debt Investments | Consumer Finance | Money Transfer Acquisition Inc. | First Lien Term Loan | Monthly SOFR | Floor Rate 1.00% | Spread 8.25% | Total Coupon 13.45% | Maturity 12/14/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 8.25% | |||||
Total Coupon | [2],[3],[9] | 13.45% | |||||
Maturity | [2],[3],[9] | Dec. 14, 2027 | |||||
Principal | [2],[3],[9] | $ 2,561,844 | |||||
Cost | [2],[3],[9],[10] | 2,513,805 | |||||
Fair Value | [1],[2],[3],[9] | 2,515,731 | |||||
Investment, Identifier [Axis]: Debt Investments | Containers & Packaging | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | 13,976,319 | [2],[3],[9],[10] | 13,765,427 | [4],[5],[11],[13] | |||
Fair Value | $ 13,982,403 | [1],[2],[3],[9] | $ 13,997,622 | [4],[5],[12],[13] | |||
Investment, Identifier [Axis]: Debt Investments | Containers & Packaging | BW Holding, Inc. (Brook & Whittle) | Second Lien Term Loan | Quarterly SOFR | Floor Rate 0.75% | Spread 7.50% | Total Coupon 12.05% | Maturity 12/14/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 0.75% | |||||
Spread | [4],[5],[13] | 7.50% | |||||
Total Coupon | [4],[5],[13] | 12.05% | |||||
Maturity | [4],[5],[13] | Dec. 14, 2029 | |||||
Principal | [4],[5],[13] | $ 4,559,359 | |||||
Cost | [4],[5],[11],[13] | 4,465,756 | |||||
Fair Value | [4],[5],[12],[13] | $ 4,226,526 | |||||
Investment, Identifier [Axis]: Debt Investments | Containers & Packaging | BW Holding, Inc. (Brook & Whittle) | Second Lien Term Loan | Quarterly SOFR | Floor Rate 0.75% | Spread 7.50% | Total Coupon 12.91% | Maturity 12/14/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0.75% | |||||
Spread | [2],[3],[9] | 7.50% | |||||
Total Coupon | [2],[3],[9] | 12.91% | |||||
Maturity | [2],[3],[9] | Dec. 14, 2029 | |||||
Principal | [2],[3],[9] | $ 4,559,359 | |||||
Cost | [2],[3],[9],[10] | 4,469,953 | |||||
Fair Value | [1],[2],[3],[9] | $ 4,021,354 | |||||
Investment, Identifier [Axis]: Debt Investments | Containers & Packaging | PVHC Holding Corp. | First Lien Term Loan | Quarterly LIBOR | Floor Rate 1.00% | Spread 4.75% | Total Coupon 9.48% | Maturity 8/2/2024 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5],[13] | 4.75% | |||||
Total Coupon | [4],[5],[13] | 9.48% | |||||
Maturity | [4],[5],[13] | Aug. 02, 2024 | |||||
Principal | [4],[5],[13] | $ 10,178,225 | |||||
Cost | [4],[5],[11],[13] | 9,299,671 | |||||
Fair Value | [4],[5],[12],[13] | $ 9,771,096 | |||||
Investment, Identifier [Axis]: Debt Investments | Containers & Packaging | PVHC Holding Corp. | First Lien Term Loan | Quarterly SOFR | Floor Rate 1.00% | Spread 4.75% | Total Coupon 10.14% | Maturity 8/2/2024 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 4.75% | |||||
Total Coupon | [2],[3],[9] | 10.14% | |||||
Maturity | [2],[3],[9] | Aug. 02, 2024 | |||||
Principal | [2],[3],[9] | $ 10,125,075 | |||||
Cost | [2],[3],[9],[10] | 9,506,366 | |||||
Fair Value | [1],[2],[3],[9] | $ 9,961,049 | |||||
Investment, Identifier [Axis]: Debt Investments | Distributors Colony Display LLC | First Lien Term Loan | Semiannaually SOFR | Floor Rate 1.00% | Spread 9.50% | Total Coupon 13.91% | Maturity 6/30/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5],[13] | 9.50% | |||||
Total Coupon | [4],[5],[13] | 13.91% | |||||
Maturity | [4],[5],[13] | Jun. 30, 2026 | |||||
Principal | [4],[5],[13] | $ 2,357,384 | |||||
Cost | [4],[5],[11],[13] | 2,322,817 | |||||
Fair Value | [4],[5],[12],[13] | 2,185,295 | |||||
Investment, Identifier [Axis]: Debt Investments | Distributors | Colony Display LLC | First Lien Term Loan | Quarterly SOFR | Floor Rate 1.00% | Spread 6.50% Cash + 3.00% PIK | Total Coupon 15.00% | Maturity 6/30/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[17] | 1% | |||||
Interest Rate, PIK | 3% | ||||||
Interest Rate, Cash | 6.50% | ||||||
Total Coupon | [2],[3],[9] | 15% | |||||
Maturity | [2],[3],[9] | Jun. 30, 2026 | |||||
Principal | [2],[3],[9],[17] | $ 2,345,472 | |||||
Cost | [2],[3],[9],[10] | 2,315,776 | |||||
Fair Value | [1],[2],[3],[9] | 2,108,579 | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | 48,822,495 | [2],[3],[9],[10] | 48,353,473 | [4],[5],[11],[13] | |||
Fair Value | $ 45,041,126 | [1],[2],[3],[9] | $ 46,025,835 | [4],[5],[12],[13] | |||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | Elevate Brands OpCo LLC | First Lien Delayed Draw Term Loan | Quarterly SOFR | Floor Rate 1.00% | Spread 8.50% | Total Coupon 13.23% | Maturity 3/15/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14] | 1% | |||||
Spread | [4],[5],[13],[14] | 8.50% | |||||
Total Coupon | [4],[5],[13],[14] | 13.23% | |||||
Maturity | [4],[5],[13],[14] | Mar. 15, 2027 | |||||
Principal | [4],[5],[13],[14] | $ 7,900,096 | |||||
Cost | [4],[5],[11],[13],[14] | 7,812,573 | |||||
Fair Value | [4],[5],[12],[13],[14] | $ 7,830,210 | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | Elevate Brands OpCo LLC | First Lien Delayed Draw Term Loan | Quarterly SOFR | Floor Rate 1.00% | Spread 8.50% | Total Coupon 13.70% | Maturity 3/15/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 1% | |||||
Spread | [2],[3],[9],[15] | 8.50% | |||||
Total Coupon | [2],[3],[9],[15] | 13.70% | |||||
Maturity | [2],[3],[9],[15] | Mar. 15, 2027 | |||||
Principal | [2],[3],[9],[15] | $ 7,900,096 | |||||
Cost | [2],[3],[9],[10],[15] | 7,824,017 | |||||
Fair Value | [1],[2],[3],[9],[15] | $ 7,900,095 | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | Fusion Holding Corp. (Finalsite) | First Lien Revolver | Quarterly SOFR | Floor Rate 0.75% | Spread 6.25% | Total Coupon 10.78% | Maturity 9/15/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14] | 0.75% | |||||
Spread | [4],[5],[13],[14] | 6.25% | |||||
Total Coupon | [4],[5],[13],[14] | 10.78% | |||||
Maturity | [4],[5],[13],[14] | Sep. 15, 2027 | |||||
Principal | [4],[5],[13],[14] | $ 0 | |||||
Cost | [4],[5],[11],[13],[14] | (5,534) | |||||
Fair Value | [4],[5],[12],[13],[14] | $ (5,592) | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | Fusion Holding Corp. (Finalsite) | First Lien Revolver | Quarterly SOFR | Floor Rate 0.75% | Spread 6.25% | Total Coupon 11.55% | Maturity 9/15/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 0.75% | |||||
Spread | [2],[3],[9],[15] | 6.25% | |||||
Total Coupon | [2],[3],[9],[15] | 11.55% | |||||
Maturity | [2],[3],[9],[15] | Sep. 15, 2027 | |||||
Principal | [2],[3],[9],[15] | $ 0 | |||||
Cost | [2],[3],[9],[10],[15] | (4,957) | |||||
Fair Value | [1],[2],[3],[9],[15] | $ (2,927) | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | Fusion Holding Corp. (Finalsite) | First Lien Term Loan | Quarterly SOFR | Floor Rate 0.75% | Spread 6.25% | Total Coupon 10.78% | Maturity 9/14/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 0.75% | |||||
Spread | [4],[5],[13] | 6.25% | |||||
Total Coupon | [4],[5],[13] | 10.78% | |||||
Maturity | [4],[5],[13] | Sep. 14, 2029 | |||||
Principal | [4],[5],[13] | $ 3,200,924 | |||||
Cost | [4],[5],[11],[13] | 3,131,854 | |||||
Fair Value | [4],[5],[12],[13] | $ 3,131,144 | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | Fusion Holding Corp. (Finalsite) | First Lien Term Loan | Quarterly/Semiannually SOFR | | Floor Rate 0.75% | Spread 6.25% | Total Coupon 11.55% | Maturity 9/14/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0.75% | |||||
Spread | [2],[3],[9] | 6.25% | |||||
Total Coupon | [2],[3],[9] | 11.55% | |||||
Maturity | [2],[3],[9] | Sep. 14, 2029 | |||||
Principal | [2],[3],[9] | $ 3,184,919 | |||||
Cost | [2],[3],[9],[10] | 3,120,127 | |||||
Fair Value | [1],[2],[3],[9] | $ 3,154,344 | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | Razor Group GmbH (Germany) | First Lien Delayed Draw Term Loan | Monthly LIBOR | Floor Rate 1.00% | Spread 9.00% | Total Coupon 14.21% | Maturity 4/30/2025 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14],[18],[19] | 1% | |||||
Spread | [4],[5],[13],[14],[18],[19] | 9% | |||||
Total Coupon | [4],[5],[13],[14],[18],[19] | 14.21% | |||||
Maturity | [4],[5],[13],[14],[18],[19] | Apr. 30, 2025 | |||||
Principal | [4],[5],[13],[14],[18],[19] | $ 12,653,058 | |||||
Cost | [4],[5],[11],[13],[14],[18],[19] | 12,727,131 | |||||
Fair Value | [4],[5],[12],[13],[14],[18],[19] | $ 12,176,370 | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | Razor Group GmbH (Germany) | First Lien Delayed Draw Term Loan | Monthly SOFR | Floor Rate 2.00% | Spread 5.00% Cash + 5.00% PIK | Total Coupon 15.32% | Maturity 4/30/2025 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15],[17],[20],[21] | 2% | |||||
Interest Rate, PIK | [2],[3],[9],[15],[17],[20],[21] | 5% | |||||
Interest Rate, Cash | [2],[3],[9],[15],[17],[20],[21] | 5% | |||||
Total Coupon | [2],[3],[9],[15],[17],[20],[21] | 15.32% | |||||
Maturity | [2],[3],[9],[15],[17],[20],[21] | Apr. 30, 2025 | |||||
Principal | [2],[3],[9],[15],[17],[20],[21] | $ 13,037,353 | |||||
Cost | [2],[3],[9],[10],[15],[17],[20],[21] | 13,081,652 | |||||
Fair Value | [1],[2],[3],[9],[15],[17],[20],[21] | $ 12,574,284 | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | Razor Group GmbH (Germany) | First Lien Sr Secured Convertible Term Loan | Fixed Spread 3.50% Cash and 3.50% PIK | Total Coupon 7.00% | Maturity 4/30/2025 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[18],[19],[22] | 0% | |||||
Interest Rate, PIK | [4],[5],[13],[18],[19],[22] | 3.50% | |||||
Interest Rate, Cash | [4],[5],[13],[18],[19],[22] | 3.50% | |||||
Total Coupon | [4],[5],[13],[18],[19],[22] | 7% | |||||
Maturity | [4],[5],[13],[18],[19],[22] | Apr. 30, 2025 | |||||
Principal | [4],[5],[13],[18],[19],[22] | $ 1,638,321 | |||||
Cost | [4],[5],[11],[13],[18],[19],[22] | 1,638,321 | |||||
Fair Value | [4],[5],[12],[13],[18],[19],[22] | $ 1,762,833 | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | Razor Group GmbH (Germany) | First Lien Sr Secured Convertible Term Loan | Fixed | Spread 3.50% Cash and 3.50% PIK | Total Coupon 7.00% | Maturity 4/30/2025 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[17],[20],[21] | 0% | |||||
Interest Rate, PIK | [2],[3],[9],[17],[20],[21] | 3.50% | |||||
Interest Rate, Cash | [2],[3],[9],[17],[20],[21] | 3.50% | |||||
Total Coupon | [2],[3],[9],[17],[20],[21] | 7% | |||||
Maturity | [2],[3],[9],[17],[20],[21] | Apr. 30, 2025 | |||||
Principal | [2],[3],[9],[17],[20],[21] | $ 1,666,962 | |||||
Cost | [2],[3],[9],[10],[17],[20],[21] | 1,666,962 | |||||
Fair Value | [1],[2],[3],[9],[17],[20],[21] | $ 1,775,314 | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | SellerX Germany GmbH & Co. Kg (Germany) | First Lien Delayed Draw Term Loan | Quarterly LIBOR | Floor Rate 1.00% | Spread 8.00% Cash and 3.00% PIK | Total Coupon 15.73% | Maturity 11/23/2025 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14],[18],[19],[22] | 1% | |||||
Interest Rate, PIK | [4],[5],[13],[14],[18],[19],[22] | 3% | |||||
Interest Rate, Cash | [4],[5],[13],[14],[18],[19],[22] | 8% | |||||
Total Coupon | [4],[5],[13],[14],[18],[19],[22] | 15.73% | |||||
Maturity | [4],[5],[13],[14],[18],[19],[22] | Nov. 23, 2025 | |||||
Principal | [4],[5],[13],[14],[18],[19],[22] | $ 6,344,642 | |||||
Cost | [4],[5],[11],[13],[14],[18],[19],[22] | 6,280,873 | |||||
Fair Value | [4],[5],[12],[13],[14],[18],[19],[22] | $ 6,255,561 | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | SellerX Germany GmbH & Co. Kg (Germany) | First Lien Delayed Draw Term Loan | Quarterly LIBOR | Floor Rate 1.00% | Spread 8.00% Cash and 3.00% PIK | Total Coupon 16.54% | Maturity 11/23/2025 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15],[17],[20],[21] | 1% | |||||
Interest Rate, PIK | [2],[3],[9],[15],[17],[20],[21] | 3% | |||||
Interest Rate, Cash | [2],[3],[9],[15],[17],[20],[21] | 8% | |||||
Total Coupon | [2],[3],[9],[15],[17],[20],[21] | 16.54% | |||||
Maturity | [2],[3],[9],[15],[17],[20],[21] | Nov. 23, 2025 | |||||
Principal | [2],[3],[9],[15],[17],[20],[21] | $ 6,441,234 | |||||
Cost | [2],[3],[9],[10],[15],[17],[20],[21] | 6,398,012 | |||||
Fair Value | [1],[2],[3],[9],[15],[17],[20],[21] | $ 6,441,235 | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | Thras.io, LLC | First Lien Delayed Draw Term Loan | Quarterly SOFR | Floor Rate 1.00% | Spread 7.00% | Total Coupon 12.50% | Maturity 12/18/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[23] | 1% | |||||
Spread | [2],[3],[9],[23] | 7% | |||||
Total Coupon | [2],[3],[9],[23] | 12.50% | |||||
Maturity | [2],[3],[9],[23] | Dec. 18, 2026 | |||||
Principal | [2],[3],[9],[23] | $ 3,044,985 | |||||
Cost | [2],[3],[9],[10],[23] | 2,995,991 | |||||
Fair Value | [1],[2],[3],[9],[23] | $ 2,283,740 | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | Thras.io, LLC | First Lien Delayed Draw Term Loan | Semiannually LIBOR | Floor Rate 1.00% | Spread 7.00% | Total Coupon 11.17% | Maturity 12/18/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14],[24] | 1% | |||||
Spread | [4],[5],[13],[14],[24] | 7% | |||||
Total Coupon | [4],[5],[13],[14],[24] | 11.17% | |||||
Maturity | [4],[5],[13],[14],[24] | Dec. 18, 2026 | |||||
Principal | [4],[5],[13],[14],[24] | $ 3,060,601 | |||||
Cost | [4],[5],[11],[13],[14],[24] | 2,995,971 | |||||
Fair Value | [4],[5],[12],[13],[14],[24] | $ 2,373,093 | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | Thras.io, LLC | First Lien Term Loan | Quarterly SOFR | Floor Rate 1.00% | Spread 7.00% | Total Coupon 12.50% | Maturity 12/18/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[23] | 1% | |||||
Spread | [2],[3],[9],[23] | 7% | |||||
Total Coupon | [2],[3],[9],[23] | 12.50% | |||||
Maturity | [2],[3],[9],[23] | Dec. 18, 2026 | |||||
Principal | [2],[3],[9],[23] | $ 7,264,615 | |||||
Cost | [2],[3],[9],[10],[23] | 7,181,077 | |||||
Fair Value | [1],[2],[3],[9],[23] | $ 5,448,463 | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | Thras.io, LLC | First Lien Term Loan | Semiannually LIBOR | Floor Rate 1.00% | Spread 7.00% | Total Coupon 11.17% | Maturity 12/18/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[24] | 1% | |||||
Spread | [4],[5],[13],[24] | 7% | |||||
Total Coupon | [4],[5],[13],[24] | 11.17% | |||||
Maturity | [4],[5],[13],[24] | Dec. 18, 2026 | |||||
Principal | [4],[5],[13],[24] | $ 7,301,869 | |||||
Cost | [4],[5],[11],[13],[24] | 7,207,747 | |||||
Fair Value | [4],[5],[12],[13],[24] | $ 6,434,771 | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | Whele LLC (Perch) | First Lien Incremental Term Loan | Monthly SOFR | Floor Rate 1.00% | Spread 8.50% Cash + 3.00% PIK | Total Coupon 16.20% | Maturity 10/15/2025 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[22] | 1% | |||||
Interest Rate, PIK | [4],[5],[13],[22] | 3% | |||||
Interest Rate, Cash | [4],[5],[13],[22] | 8.50% | |||||
Total Coupon | [4],[5],[13],[22] | 16.20% | |||||
Maturity | [4],[5],[13],[22] | Oct. 15, 2025 | |||||
Principal | [4],[5],[13],[22] | $ 6,531,157 | |||||
Cost | [4],[5],[11],[13],[22] | 6,564,537 | |||||
Fair Value | [4],[5],[12],[13],[22] | 6,067,445 | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | Whele LLC (Perch) | First Lien Incremental Term Loan | Monthly SOFR | Floor Rate 1.00% | Spread 8.50% Cash + 3.00% PIK | Total Coupon 16.82% | Maturity 10/15/2025 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[17] | 1% | |||||
Interest Rate, PIK | [2],[3],[9],[17] | 3% | |||||
Interest Rate, Cash | [2],[3],[9],[17] | 8.50% | |||||
Total Coupon | [2],[3],[9],[17] | 16.82% | |||||
Maturity | [2],[3],[9],[17] | Oct. 15, 2025 | |||||
Principal | [2],[3],[9],[17] | $ 6,531,157 | |||||
Cost | [2],[3],[9],[10],[17] | 6,559,614 | |||||
Fair Value | [1],[2],[3],[9],[17] | 5,466,578 | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | 110,035,795 | [2],[3],[9],[10] | 105,845,201 | [4],[5],[11] | |||
Fair Value | $ 87,286,625 | [1],[2],[3],[9] | $ 82,648,607 | [4],[5],[12] | |||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | 2-10 Holdco, Inc. | First Lien Revolver | SOFR (M) | Floor Rate 0.75% | Spread 6.00% | Total Coupon 10.42% | Maturity 3/26/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[14] | 0.75% | |||||
Spread | [4],[5],[14] | 6% | |||||
Total Coupon | [4],[5],[14] | 10.42% | |||||
Maturity | [4],[5],[14] | Mar. 26, 2026 | |||||
Principal | [4],[5],[14] | $ 0 | |||||
Cost | [4],[5],[11],[14] | (3,117) | |||||
Fair Value | [4],[5],[12],[14] | $ (3,171) | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | 2-10 Holdco, Inc. | First Lien Revolver | SOFR(M) | Floor Rate 0.75% | Spread 6.00% | Total Coupon 11.20% | Maturity 3/26/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 0.75% | |||||
Spread | [2],[3],[9],[15] | 6% | |||||
Total Coupon | [2],[3],[9],[15] | 11.20% | |||||
Maturity | [2],[3],[9],[15] | Mar. 26, 2026 | |||||
Principal | [2],[3],[9],[15] | $ 0 | |||||
Cost | [2],[3],[9],[10],[15] | (2,640) | |||||
Fair Value | [1],[2],[3],[9],[15] | $ (4,397) | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | 2-10 Holdco, Inc. | First Lien Term Loan | Monthly SOFR | Floor Rate 0.75% | Spread 6.00% | Total Coupon 10.42% | Maturity 3/26/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5] | 0.75% | |||||
Spread | [4],[5] | 6% | |||||
Total Coupon | [4],[5] | 10.42% | |||||
Maturity | [4],[5] | Mar. 26, 2026 | |||||
Principal | [4],[5] | $ 6,538,915 | |||||
Cost | [4],[5],[11] | 6,451,642 | |||||
Fair Value | [4],[5],[12] | $ 6,452,601 | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | 2-10 Holdco, Inc. | First Lien Term Loan | SOFR(M) | Floor Rate 0.75% | Spread 6.00% | Total Coupon 11.20% | Maturity 3/26/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0.75% | |||||
Spread | [2],[3],[9] | 6% | |||||
Total Coupon | [2],[3],[9] | 11.20% | |||||
Maturity | [2],[3],[9] | Mar. 26, 2026 | |||||
Principal | [2],[3],[9] | $ 6,438,127 | |||||
Cost | [2],[3],[9],[10] | 6,367,528 | |||||
Fair Value | [1],[2],[3],[9] | $ 6,320,309 | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Accordion Partners LLC | First Lien Delayed Draw Term Loan A | Quarterly SOFR | Floor Rate 0.75% | Spread 6.50% | Total Coupon 11.08% | Maturity 8/29/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[14] | 0.75% | |||||
Spread | [4],[5],[14] | 6.50% | |||||
Total Coupon | [4],[5],[14] | 11.08% | |||||
Maturity | [4],[5],[14] | Aug. 29, 2029 | |||||
Principal | [4],[5],[14] | $ 0 | |||||
Cost | [4],[5],[11],[14] | 1,316 | |||||
Fair Value | [4],[5],[12],[14] | $ (7,017) | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Accordion Partners LLC | First Lien Delayed Draw Term Loan A | SOFR (Q)| Floor Rate 0.75% | Spread 6.50% | Total Coupon 11.74% | Maturity 8/29/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0.75% | |||||
Spread | [2],[3],[9] | 6.50% | |||||
Total Coupon | [2],[3],[9] | 11.74% | |||||
Maturity | [2],[3],[9] | Aug. 29, 2029 | |||||
Principal | [2],[3],[9] | $ 467,786 | |||||
Cost | [2],[3],[9],[10] | 463,936 | |||||
Fair Value | [1],[2],[3],[9] | $ 466,383 | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Accordion Partners LLC | First Lien Delayed Draw Term Loan B | Quarterly SOFR | Floor Rate 0.75% | Spread 6.25% | Total Coupon 10.83% | Maturity 8/29/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[14] | 0.75% | |||||
Spread | [4],[5],[14] | 6.25% | |||||
Total Coupon | [4],[5],[14] | 10.83% | |||||
Maturity | [4],[5],[14] | Aug. 29, 2029 | |||||
Principal | [4],[5],[14] | $ 0 | |||||
Cost | [4],[5],[11],[14] | (12,562) | |||||
Fair Value | [4],[5],[12],[14] | $ (15,203) | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Accordion Partners LLC | First Lien Delayed Draw Term Loan B | SOFR(Q) | Floor Rate 0.75% | Spread 6.25% | Total Coupon 11.29% | Maturity 8/29/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 0.75% | |||||
Spread | [2],[3],[9],[15] | 6.25% | |||||
Total Coupon | [2],[3],[9],[15] | 11.29% | |||||
Maturity | [2],[3],[9],[15] | Aug. 29, 2029 | |||||
Principal | [2],[3],[9],[15] | $ 584,733 | |||||
Cost | [2],[3],[9],[10],[15] | 566,453 | |||||
Fair Value | [1],[2],[3],[9],[15] | $ 576,546 | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Accordion Partners LLC | First Lien Revolver | Floor Rate 0.75% | Spread 6.25% |Total Coupon 10.83% | Maturity 8/29/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[14] | 0.75% | |||||
Spread | [4],[5],[14] | 6.25% | |||||
Total Coupon | [4],[5],[14] | 10.83% | |||||
Maturity | [4],[5],[14] | Aug. 31, 2028 | |||||
Principal | [4],[5],[14] | $ 0 | |||||
Cost | [4],[5],[11],[14] | (9,941) | |||||
Fair Value | [4],[5],[12],[14] | $ (12,162) | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Accordion Partners LLC | First Lien Revolver | Quaterly SOFR | Floor Rate 0.75% | Spread 6.25% | Total Coupon 11.49% | Maturity 8/31/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 0.75% | |||||
Spread | [2],[3],[9],[15] | 6.25% | |||||
Total Coupon | [2],[3],[9],[15] | 11.49% | |||||
Maturity | [2],[3],[9],[15] | Aug. 31, 2028 | |||||
Principal | [2],[3],[9],[15] | $ 0 | |||||
Cost | [2],[3],[9],[10],[15] | (9,115) | |||||
Fair Value | [1],[2],[3],[9],[15] | $ (6,549) | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Accordion Partners LLC | First Lien Term Loan | Quarterly SOFR | Floor Rate 0.75% | Spread 6.25% | Total Coupon 10.83% | Maturity 8/29/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5] | 0.75% | |||||
Spread | [4],[5] | 6.25% | |||||
Total Coupon | [4],[5] | 10.83% | |||||
Maturity | [4],[5] | Aug. 29, 2029 | |||||
Principal | [4],[5] | $ 5,356,151 | |||||
Cost | [4],[5],[11] | 5,240,066 | |||||
Fair Value | [4],[5],[12] | $ 5,216,891 | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Accordion Partners LLC | First Lien Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 6.25% | Total Coupon 11.49% | Maturity 8/29/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0.75% | |||||
Spread | [2],[3],[9] | 6.25% | |||||
Total Coupon | [2],[3],[9] | 11.49% | |||||
Maturity | [2],[3],[9] | Aug. 29, 2029 | |||||
Principal | [2],[3],[9] | $ 5,329,370 | |||||
Cost | [2],[3],[9],[10] | 5,221,524 | |||||
Fair Value | [1],[2],[3],[9] | $ 5,254,759 | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Callodine Commercial Finance, LLC | First Lien Term Loan | Quarterly LIBOR | Floor Rate 1.00% | Spread 9.00% | Total Coupon 13.73% | Maturity 11/3/2025 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5] | 1% | |||||
Spread | [4],[5] | 9% | |||||
Total Coupon | [4],[5] | 13.73% | |||||
Maturity | [4],[5] | Nov. 03, 2025 | |||||
Principal | [4],[5] | $ 25,000,000 | |||||
Cost | [4],[5],[11] | 25,000,000 | |||||
Fair Value | [4],[5],[12] | $ 24,775,000 | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Callodine Commercial Finance, LLC | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 9.00% | Total Coupon 14.50% | Maturity 11/3/2025 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 9% | |||||
Total Coupon | [2],[3],[9] | 14.50% | |||||
Maturity | [2],[3],[9] | Nov. 03, 2025 | |||||
Principal | [2],[3],[9] | $ 25,000,000 | |||||
Cost | [2],[3],[9],[10] | 25,000,000 | |||||
Fair Value | [1],[2],[3],[9] | $ 24,850,000 | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Callodine Commercial Finance, LLC | Subordinated Debt | Monthly SOFR | Floor Rate 0.25% | Spread 8.50% | Total Coupon 13.14% | Maturity 10/8/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[25] | 0.25% | |||||
Spread | [4],[5],[25] | 8.50% | |||||
Total Coupon | [4],[5],[25] | 13.14% | |||||
Maturity | [4],[5],[25] | Oct. 08, 2027 | |||||
Principal | [4],[5],[25] | $ 5,000,000 | |||||
Cost | [4],[5],[11],[25] | 5,000,000 | |||||
Fair Value | [4],[5],[12],[25] | $ 4,930,000 | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Callodine Commercial Finance, LLC | Subordinated Debt | SOFR(M) | Floor Rate 0.25% | Spread 8.50% | Total Coupon 13.90% | Maturity 10/8/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[26] | 0.25% | |||||
Spread | [2],[3],[9],[26] | 8.50% | |||||
Total Coupon | [2],[3],[9],[26] | 13.90% | |||||
Maturity | [2],[3],[9],[26] | Oct. 08, 2027 | |||||
Principal | [2],[3],[9],[26] | $ 5,000,000 | |||||
Cost | [2],[3],[9],[10],[26] | 5,000,000 | |||||
Fair Value | [1],[2],[3],[9],[26] | $ 4,955,000 | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | GC Champion Acquisition LLC (Numerix) | First Lien Delayed Draw Term Loan | SOFR(S) | Floor Rate 1.00% | Spread 6.75% | Total Coupon 11.78% | Maturity 8/21/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 1% | |||||
Spread | [2],[3],[9],[15] | 6.75% | |||||
Total Coupon | [2],[3],[9],[15] | 11.78% | |||||
Maturity | [2],[3],[9],[15] | Aug. 21, 2028 | |||||
Principal | [2],[3],[9],[15] | $ 1,978,510 | |||||
Cost | [2],[3],[9],[10],[15] | 1,942,991 | |||||
Fair Value | [1],[2],[3],[9],[15] | $ 1,945,865 | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | GC Champion Acquisition LLC (Numerix) | First Lien Delayed Draw Term Loan | SOFR(S) | Floor Rate 1.00% | Spread 6.75% |Total Coupon 11.15% | Maturity 8/21/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[14] | 1% | |||||
Spread | [4],[5],[14] | 6.75% | |||||
Total Coupon | [4],[5],[14] | 11.15% | |||||
Maturity | [4],[5],[14] | Aug. 21, 2028 | |||||
Principal | [4],[5] | $ 0 | |||||
Cost | [4],[5],[11],[14] | (18,625) | |||||
Fair Value | [4],[5],[12],[14] | $ (57,773) | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | GC Champion Acquisition LLC (Numerix) | First Lien Term Loan | SOFR(S) | Floor Rate 1.00% | Spread 6.75% | Total Coupon 11.15% | Maturity 8/21/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5] | 1% | |||||
Spread | [4],[5] | 6.75% | |||||
Total Coupon | [4],[5] | 11.15% | |||||
Maturity | [4],[5] | Aug. 21, 2028 | |||||
Principal | [4],[5] | $ 7,104,830 | |||||
Cost | [4],[5],[11] | 6,969,338 | |||||
Fair Value | [4],[5],[12] | $ 6,897,369 | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | GC Champion Acquisition LLC (Numerix) | First Lien Term Loan | SOFR(S) | Floor Rate 1.00% | Spread 6.75% | Total Coupon 11.78% | Maturity 8/21/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 6.75% | |||||
Total Coupon | [2],[3],[9] | 11.78% | |||||
Maturity | [2],[3],[9] | Aug. 21, 2028 | |||||
Principal | [2],[3],[9] | $ 7,122,636 | |||||
Cost | [2],[3],[9],[10] | 7,002,230 | |||||
Fair Value | [1],[2],[3],[9] | $ 7,005,113 | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Gordon Brothers Finance Company | Unsecured Debt | LIBOR (M) | Floor Rate 1.00% | Spread 11.00% | Total Coupon 18.19% | Maturity 10/31/2021 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[27],[28],[29] | 1% | |||||
Spread | [2],[3],[9],[27],[28],[29] | 11% | |||||
Total Coupon | [2],[3],[9],[27],[28],[29] | 18.19% | |||||
Maturity | [2],[3],[9],[27],[28],[29] | Oct. 31, 2021 | |||||
Principal | [2],[3],[9],[27],[28],[29] | $ 37,183,232 | |||||
Cost | [2],[3],[9],[10],[27],[28],[29] | 37,183,232 | |||||
Fair Value | [1],[2],[3],[9],[27],[28],[29] | $ 14,999,000 | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Gordon Brothers Finance Company | Unsecured Debt | LIBOR(M) | Floor Rate 1.00% | Spread 11.00% | Total Coupon 17.38% | Maturity 10/31/2021 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[30],[31],[32] | 1% | |||||
Spread | [4],[5],[30],[31],[32] | 11% | |||||
Total Coupon | [4],[5],[30],[31],[32] | 17.38% | |||||
Maturity | [4],[5],[30],[31],[32] | Oct. 31, 2021 | |||||
Principal | [4],[5],[30],[31],[32] | $ 37,686,148 | |||||
Cost | [4],[5],[11],[30],[31],[32] | 37,686,148 | |||||
Fair Value | [4],[5],[12],[30],[31],[32] | $ 15,228,000 | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Libra Solutions Intermediate Holdco, LLC et al (fka Oasis Financial, LLC) | Second Lien Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 18.50% | Total Coupon 12.93% | Maturity 7/5/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5] | 1% | |||||
Spread | [4],[5] | 8.50% | |||||
Total Coupon | [4],[5] | 12.93% | |||||
Maturity | [4],[5] | Jul. 05, 2026 | |||||
Principal | [4],[5] | $ 5,000,000 | |||||
Cost | [4],[5],[11] | 4,929,099 | |||||
Fair Value | [4],[5],[12] | $ 4,870,000 | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Libra Solutions Intermediate Holdco, LLC et al (fka Oasis Financial, LLC) | Second Lien Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 8.50% | Total Coupon 13.71% | Maturity 7/5/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 8.50% | |||||
Total Coupon | [2],[3],[9] | 13.71% | |||||
Maturity | [2],[3],[9] | Jul. 05, 2026 | |||||
Principal | [2],[3],[9] | $ 5,000,000 | |||||
Cost | [2],[3],[9],[10] | 4,939,026 | |||||
Fair Value | [1],[2],[3],[9] | $ 4,890,000 | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Wealth Enhancement Group, LLC | First Lien Delayed Draw Term Loan | SOFR(Q)/(S) | Floor Rate 1.00% | Spread 6.25% | Total Coupon 11.09% | Maturity 10/4/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 1% | |||||
Spread | [2],[3],[9],[15] | 6.25% | |||||
Total Coupon | [2],[3],[9],[15] | 11.09% | |||||
Maturity | [2],[3],[9],[15] | Oct. 04, 2027 | |||||
Principal | [2],[3],[9],[15] | $ 5,186,938 | |||||
Cost | [2],[3],[9],[10],[15] | 5,166,802 | |||||
Fair Value | [1],[2],[3],[9],[15] | $ 5,026,273 | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Wealth Enhancement Group, LLC | First Lien Delayed Draw Term Loan | SOFR(S) | Floor Rate 1.00% | Spread 6.00% | Total Coupon 10.44% | Maturity 10/4/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[14] | 1% | |||||
Spread | [4],[5],[14] | 6% | |||||
Total Coupon | [4],[5],[14] | 10.44% | |||||
Maturity | [4],[5],[14] | Oct. 04, 2027 | |||||
Principal | [4],[5],[14] | $ 3,475,919 | |||||
Cost | [4],[5],[11],[14] | 3,453,599 | |||||
Fair Value | [4],[5],[12],[14] | $ 3,298,870 | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Wealth Enhancement Group, LLC | First Lien Revolver | SOFR(S) | Floor Rate 1.00% | Spread 6.00% | Total Coupon 10.44% | Maturity 10/4/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[14] | 1% | |||||
Spread | [4],[5],[14] | 6% | |||||
Total Coupon | [4],[5],[14] | 10.44% | |||||
Maturity | [4],[5],[14] | Oct. 04, 2027 | |||||
Principal | [4],[5] | $ 0 | |||||
Cost | [4],[5],[11],[14] | (1,849) | |||||
Fair Value | [4],[5],[12],[14] | $ (10,098) | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Wealth Enhancement Group, LLC | First Lien Revolver | SOFR(S) | Floor Rate 1.00% | Spread 6.25% | Total Coupon 11.09% | Maturity 10/4/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 1% | |||||
Spread | [2],[3],[9],[15] | 6.25% | |||||
Total Coupon | [2],[3],[9],[15] | 11.09% | |||||
Maturity | [2],[3],[9],[15] | Oct. 04, 2027 | |||||
Principal | [2],[3],[9],[15] | $ 0 | |||||
Cost | [2],[3],[9],[10],[15] | (1,655) | |||||
Fair Value | [1],[2],[3],[9],[15] | $ (9,177) | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Worldremit Group Limited (United Kingdom) | First Lien Term Loan (3.0% Exit Fee) | LIBOR(Q) | Floor Rate 1.00% | Spread 9.25% | Total Coupon 13.91% | Maturity 2/11/2025 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[18],[19] | 1% | |||||
Spread | [4],[5],[18],[19] | 9.25% | |||||
Total Coupon | [4],[5],[18],[19] | 13.91% | |||||
Maturity | [4],[5],[18],[19] | Feb. 11, 2025 | |||||
Principal | [4],[5],[18],[19] | $ 11,300,000 | |||||
Cost | [4],[5],[11],[18],[19] | 11,160,087 | |||||
Fair Value | [4],[5],[12],[18],[19] | $ 11,085,300 | |||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Worldremit Group Limited (United Kingdom) | First Lien Term Loan (3.0% Exit Fee) | SOFR(Q)/(M) | Floor Rate 1.00% | Spread 9.25% | Total Coupon 14.65% | Maturity 2/11/2025 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[20],[21] | 1% | |||||
Spread | [2],[3],[9],[20],[21] | 9.25% | |||||
Total Coupon | [2],[3],[9],[20],[21] | 14.65% | |||||
Maturity | [2],[3],[9],[20],[21] | Feb. 11, 2025 | |||||
Principal | [2],[3],[9],[20],[21] | $ 11,300,000 | |||||
Cost | [2],[3],[9],[10],[20],[21] | 11,195,483 | |||||
Fair Value | [1],[2],[3],[9],[20],[21] | 11,017,500 | |||||
Investment, Identifier [Axis]: Debt Investments | Electrical Equipment | Advanced Lighting Technologies, LLC | Second Lien Sr Secured Notes | LIBOR(M) | Floor Rate 2.00% | Spread 16.00% PIK + 6.00% Cash | Total Coupon 28.33% | Maturity 3/16/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[22],[30],[31],[33] | 2% | |||||
Interest Rate, PIK | [4],[5],[22],[30],[31],[33] | 16% | |||||
Interest Rate, Cash | [4],[5],[22],[30],[31],[33] | 6% | |||||
Total Coupon | [4],[5],[22],[30],[31],[33] | 28.33% | |||||
Maturity | [4],[5],[22],[30],[31],[33] | Mar. 16, 2027 | |||||
Principal | [4],[5],[22],[30],[31],[33] | $ 2,362,743 | |||||
Cost | [4],[5],[11],[22],[30],[31],[33] | 935,927 | |||||
Fair Value | [4],[5],[12],[22],[30],[31],[33] | $ 708,823 | |||||
Investment, Identifier [Axis]: Debt Investments | Health Care Equipment & Supplies | Zest Acquisition Corp. | Second Lien Term Loan | LIBOR(M) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 11.39% | Maturity 3/14/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[24] | 1% | |||||
Spread | [4],[5],[24] | 7% | |||||
Total Coupon | [4],[5],[24] | 11.39% | |||||
Maturity | [4],[5],[24] | Mar. 14, 2026 | |||||
Principal | [4],[5],[24] | $ 15,000,000 | |||||
Cost | [4],[5],[11],[24] | 14,930,552 | |||||
Fair Value | [4],[5],[12],[24] | 14,025,000 | |||||
Investment, Identifier [Axis]: Debt Investments | Health Care Providers & Services | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | 22,403,080 | [2],[3],[9],[10] | 22,366,911 | [4],[5],[11] | |||
Fair Value | $ 21,450,215 | [1],[2],[3],[9] | $ 21,097,447 | [4],[5],[12] | |||
Investment, Identifier [Axis]: Debt Investments | Health Care Providers & Services | INH Buyer, Inc. (IMS Health) | First Lien Term Loan (1.5% Exit Fee) | SOFR(Q) | Floor Rate 1.00% | Spread 3.50% Cash + 3.50% PIK | Total Coupon 11.68% | Maturity 6/28/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[22] | 1% | |||||
Interest Rate, PIK | [4],[5],[22] | 3.50% | |||||
Interest Rate, Cash | [4],[5],[22] | 3.50% | |||||
Total Coupon | [4],[5],[22] | 11.68% | |||||
Maturity | [4],[5],[22] | Jun. 28, 2028 | |||||
Principal | [4],[5],[22] | $ 2,703,036 | |||||
Cost | [4],[5],[11],[22] | 2,657,008 | |||||
Fair Value | [4],[5],[12],[22] | $ 2,121,343 | |||||
Investment, Identifier [Axis]: Debt Investments | Health Care Providers & Services | INH Buyer, Inc. (IMS Health) | First Lien Term Loan (1.5% Exit Fee) | SOFR(Q) | Floor Rate 1.00% | Spread 3.50% Cash + 3.50% PIK | Total Coupon 12.34% | Maturity 6/28/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[17] | 1% | |||||
Interest Rate, PIK | [2],[3],[9],[17] | 3.50% | |||||
Interest Rate, Cash | [2],[3],[9],[17] | 3.50% | |||||
Total Coupon | [2],[3],[9],[17] | 12.34% | |||||
Maturity | [2],[3],[9],[17] | Jun. 28, 2028 | |||||
Principal | [2],[3],[9],[17] | $ 2,737,517 | |||||
Cost | [2],[3],[9],[10],[17] | 2,693,030 | |||||
Fair Value | [1],[2],[3],[9],[17] | $ 2,258,451 | |||||
Investment, Identifier [Axis]: Debt Investments | Health Care Providers & Services | Opco Borrower, LLC (Giving Home Health Care) | First Lien Revolver | (Q)SOFR | Floor Rate 1.00% | Spread 6.50% | Total Coupon 11.84% | Maturity 8/19/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 1% | |||||
Spread | [2],[3],[9],[15] | 6.50% | |||||
Total Coupon | [2],[3],[9],[15] | 11.84% | |||||
Maturity | [2],[3],[9],[15] | Aug. 19, 2027 | |||||
Principal | [2],[3],[9],[15] | $ 0 | |||||
Cost | [2],[3],[9],[10],[15] | (260) | |||||
Fair Value | [1],[2],[3],[9],[15] | $ (25) | |||||
Investment, Identifier [Axis]: Debt Investments | Health Care Providers & Services | Opco Borrower, LLC (Giving Home Health Care) | First Lien Revolver | SOFR(M) | Floor Rate 1.00% | Spread 6.50% | Total Coupon 10.87% | Maturity 8/19/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[14] | 1% | |||||
Spread | [4],[5],[14] | 6.50% | |||||
Total Coupon | [4],[5],[14] | 10.87% | |||||
Maturity | [4],[5],[14] | Aug. 19, 2027 | |||||
Principal | [4],[5],[14] | $ 6,250 | |||||
Cost | [4],[5],[11],[14] | 5,958 | |||||
Fair Value | [4],[5],[12],[14] | $ 5,706 | |||||
Investment, Identifier [Axis]: Debt Investments | Health Care Providers & Services | Opco Borrower, LLC (Giving Home Health Care) | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 6.50% | Total Coupon 11.18% | Maturity 8/19/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5] | 1% | |||||
Spread | [4],[5] | 6.50% | |||||
Total Coupon | [4],[5] | 11.18% | |||||
Maturity | [4],[5] | Aug. 19, 2027 | |||||
Principal | [4],[5] | $ 341,602 | |||||
Cost | [4],[5],[11] | 338,323 | |||||
Fair Value | [4],[5],[12] | $ 335,658 | |||||
Investment, Identifier [Axis]: Debt Investments | Health Care Providers & Services | Opco Borrower, LLC (Giving Home Health Care) | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 6.50% | Total Coupon 11.84% | Maturity 8/19/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 6.50% | |||||
Total Coupon | [2],[3],[9] | 11.84% | |||||
Maturity | [2],[3],[9] | Aug. 19, 2027 | |||||
Principal | [2],[3],[9] | $ 337,305 | |||||
Cost | [2],[3],[9],[10] | 334,450 | |||||
Fair Value | [1],[2],[3],[9] | $ 337,035 | |||||
Investment, Identifier [Axis]: Debt Investments | Health Care Providers & Services | Outcomes Group Holdings, Inc. | Second Lien Term Loan | LIBOR(M) | Spread 7.50% | Total Coupon 12.69% | Maturity 10/26/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[23] | 0% | |||||
Spread | [2],[3],[9],[23] | 7.50% | |||||
Total Coupon | [2],[3],[9],[23] | 12.69% | |||||
Maturity | [2],[3],[9],[23] | Oct. 26, 2026 | |||||
Principal | [2],[3],[9],[23] | $ 5,769,231 | |||||
Cost | [2],[3],[9],[10],[23] | 5,764,494 | |||||
Fair Value | [1],[2],[3],[9],[23] | $ 5,653,846 | |||||
Investment, Identifier [Axis]: Debt Investments | Health Care Providers & Services | Outcomes Group Holdings, Inc. | Second Lien Term Loan | LIBOR(Q) | Spread 7.50% | Total Coupon 12.23% | Maturity 10/26/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5] | 0% | |||||
Spread | [4],[5] | 7.50% | |||||
Total Coupon | [4],[5] | 12.23% | |||||
Maturity | [4],[5] | Oct. 26, 2026 | |||||
Principal | [4],[5] | $ 5,769,231 | |||||
Cost | [4],[5],[11] | 5,762,481 | |||||
Fair Value | [4],[5],[12] | $ 5,480,769 | |||||
Investment, Identifier [Axis]: Debt Investments | Health Care Providers & Services | Outcomes Group Holdings, Inc. | Second Lien Term Loan | SOFR(M) | Floor rate 0.50% | Spread 7.50% | Total Coupon 12.70% | Maturity 10/26/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0.50% | |||||
Spread | [2],[3],[9] | 7.50% | |||||
Total Coupon | [2],[3],[9] | 12.70% | |||||
Maturity | [2],[3],[9] | Oct. 26, 2026 | |||||
Principal | [2],[3],[9] | $ 3,538,462 | |||||
Cost | [2],[3],[9],[10] | 3,497,961 | |||||
Fair Value | [1],[2],[3],[9] | $ 3,432,308 | |||||
Investment, Identifier [Axis]: Debt Investments | Health Care Providers & Services | Outcomes Group Holdings, Inc. | Second Lien Term Loan | SOFR(Q) | Floor rate 0.50% | Spread 7.50% | Total Coupon 12.05% | Maturity 10/26/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5] | 0.50% | |||||
Spread | [4],[5] | 7.50% | |||||
Total Coupon | [4],[5] | 12.05% | |||||
Maturity | [4],[5] | Oct. 26, 2026 | |||||
Principal | [4],[5] | $ 3,538,462 | |||||
Cost | [4],[5],[11] | 3,491,614 | |||||
Fair Value | [4],[5],[12] | $ 3,361,538 | |||||
Investment, Identifier [Axis]: Debt Investments | Health Care Providers & Services | PHC Buyer, LLC (Patriot Home Care) | First Lien Delayed Draw Term Loan | SOFR (Q) | Floor rate 0.75% | Spread 6.00% | Total Coupon 11.26% | Maturity 5/4/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 0.75% | |||||
Spread | [2],[3],[9],[15] | 6% | |||||
Total Coupon | [2],[3],[9],[15] | 11.26% | |||||
Maturity | [2],[3],[9],[15] | May 04, 2028 | |||||
Principal | [2],[3],[9],[15] | $ 0 | |||||
Cost | [2],[3],[9],[10],[15] | (8,978) | |||||
Fair Value | [1],[2],[3],[9],[15] | $ (29,670) | |||||
Investment, Identifier [Axis]: Debt Investments | Health Care Providers & Services | PHC Buyer, LLC (Patriot Home Care) | First Lien Delayed Draw Term Loan | SOFR(S) | Floor rate 0.75% | Spread 6.00% | Total Coupon 10.70% | Maturity 5/4/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[14] | 0.75% | |||||
Spread | [4],[5],[14] | 6% | |||||
Total Coupon | [4],[5],[14] | 10.70% | |||||
Maturity | [4],[5],[14] | May 04, 2028 | |||||
Principal | [4],[5],[14] | $ 0 | |||||
Cost | [4],[5],[11],[14] | (11,384) | |||||
Fair Value | [4],[5],[12],[14] | $ (46,396) | |||||
Investment, Identifier [Axis]: Debt Investments | Health Care Providers & Services | PHC Buyer, LLC (Patriot Home Care) | First Lien Term Loan | SOFR(Q) | Floor rate 0.75% | Spread 6.00% | Total Coupon 11.26% | Maturity 5/4/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0.75% | |||||
Spread | [2],[3],[9] | 6% | |||||
Total Coupon | [2],[3],[9] | 11.26% | |||||
Maturity | [2],[3],[9] | May 04, 2028 | |||||
Principal | [2],[3],[9] | $ 3,779,650 | |||||
Cost | [2],[3],[9],[10] | 3,716,789 | |||||
Fair Value | [1],[2],[3],[9] | $ 3,702,545 | |||||
Investment, Identifier [Axis]: Debt Investments | Health Care Providers & Services | PHC Buyer, LLC (Patriot Home Care) | First Lien Term Loan | SOFR(S) | Floor rate 0.75% | Spread 6.00% | Total Coupon 10.70% | Maturity 5/4/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5] | 0.75% | |||||
Spread | [4],[5] | 6% | |||||
Total Coupon | [4],[5] | 10.70% | |||||
Maturity | [4],[5] | May 04, 2028 | |||||
Principal | [4],[5] | $ 3,798,739 | |||||
Cost | [4],[5],[11] | 3,729,472 | |||||
Fair Value | [4],[5],[12] | $ 3,677,559 | |||||
Investment, Identifier [Axis]: Debt Investments | Health Care Providers & Services | Team Services Group, LLC | Second Lien Term Loan | LIBOR(Q) | Floor rate 1.00% | Spread 9.00% | Total Coupon 14.27% | Maturity 11/13/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 9% | |||||
Total Coupon | [2],[3],[9] | 14.27% | |||||
Maturity | [2],[3],[9] | Nov. 13, 2028 | |||||
Principal | [2],[3],[9] | $ 6,554,543 | |||||
Cost | [2],[3],[9],[10] | 6,405,594 | |||||
Fair Value | [1],[2],[3],[9] | 6,095,725 | |||||
Investment, Identifier [Axis]: Debt Investments | Health Care Providers & Services | Team Services Group, LLC | Second Lien Term Loan | LIBOR(S) | Floor rate 1.00% | Spread 9.00% | Total Coupon 13.93% | Maturity 11/13/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5] | 1% | |||||
Spread | [4],[5] | 9% | |||||
Total Coupon | [4],[5] | 13.93% | |||||
Maturity | [4],[5] | Nov. 13, 2028 | |||||
Principal | [4],[5] | $ 6,554,543 | |||||
Cost | [4],[5],[11] | 6,393,439 | |||||
Fair Value | [4],[5],[12] | 6,161,270 | |||||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | 26,011,394 | [2],[3],[10] | 25,980,449 | [4],[5],[11] | |||
Fair Value | $ 25,539,811 | [1],[2],[3] | $ 25,380,349 | [4],[5],[12] | |||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | Appriss Health, LLC (PatientPing) | First Lien Revolver | LIBOR(M) | Floor rate 1.00% | Spread 7.25% | Total Coupon 11.54% | Maturity 5/6/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[14] | 1% | |||||
Spread | [4],[5],[14] | 7.25% | |||||
Total Coupon | [4],[5],[14] | 11.54% | |||||
Maturity | [4],[5],[14] | May 06, 2027 | |||||
Principal | [4],[5],[14] | $ 0 | |||||
Cost | [4],[5],[11],[14] | (2,786) | |||||
Fair Value | [4],[5],[12],[14] | $ (10,545) | |||||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | Appriss Health, LLC (PatientPing) | First Lien Revolver | LIBOR(M) | Floor rate 1.00% | Spread 7.25% | Total Coupon 11.90% | Maturity 5/6/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 1% | |||||
Spread | [2],[3],[9],[15] | 7.25% | |||||
Total Coupon | [2],[3],[9],[15] | 11.90% | |||||
Maturity | [2],[3],[9],[15] | May 06, 2027 | |||||
Principal | [2],[3],[9],[15] | $ 0 | |||||
Cost | [2],[3],[9],[10],[15] | (2,465) | |||||
Fair Value | [1],[2],[3],[9],[15] | $ (7,477) | |||||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | Appriss Health, LLC (PatientPing) | First Lien Term Loan | LIBOR(M) | Floor rate 1.00% | Spread 7.25% | Total Coupon 11.54% | Maturity 5/6/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5] | 1% | |||||
Spread | [4],[5] | 7.25% | |||||
Total Coupon | [4],[5] | 11.54% | |||||
Maturity | [4],[5] | May 06, 2027 | |||||
Principal | [4],[5] | $ 2,868,709 | |||||
Cost | [4],[5],[11] | 2,826,856 | |||||
Fair Value | [4],[5],[12] | $ 2,710,930 | |||||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | Appriss Health, LLC (PatientPing) | First Lien Term Loan | LIBOR(M) | Floor rate 1.00% | Spread 7.25% | Total Coupon 11.90% | Maturity 5/6/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 7.25% | |||||
Total Coupon | [2],[3],[9] | 11.90% | |||||
Maturity | [2],[3],[9] | May 06, 2027 | |||||
Principal | [2],[3],[9] | $ 2,861,520 | |||||
Cost | [2],[3],[9],[10] | 2,824,047 | |||||
Fair Value | [1],[2],[3],[9] | $ 2,749,920 | |||||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | CareATC, Inc. | First Lien Revolver | LIBOR(S) | Floor rate 1.00% | Spread 7.25% | Total Coupon 9.73% | Maturity 3/14/2024 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5] | 1% | |||||
Spread | [4],[5] | 7.25% | |||||
Total Coupon | [4],[5] | 9.73% | |||||
Maturity | [4],[5] | Mar. 14, 2024 | |||||
Principal | [4],[5] | $ 338,074 | |||||
Cost | [4],[5],[11] | 336,302 | |||||
Fair Value | [4],[5],[12] | $ 332,665 | |||||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | CareATC, Inc. | First Lien Revolver | SOFR(Q) | Floor rate 1.00% | Spread 7.25% | Total Coupon 13.07% | Maturity 3/14/2024 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 7.75% | |||||
Total Coupon | [2],[3],[9] | 13.07% | |||||
Maturity | [2],[3],[9] | Mar. 14, 2026 | |||||
Principal | [2],[3],[9] | $ 0 | |||||
Cost | [2],[3],[9],[10] | (3,074) | |||||
Fair Value | [1],[2],[3],[9] | $ (8,114) | |||||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | CareATC, Inc. | First Lien Term Loan | LIBOR(Q) | Floor rate 1.00% | Spread 7.25% | Total Coupon 11.99% | Maturity 3/14/2024 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5] | 1% | |||||
Spread | [4],[5] | 7.25% | |||||
Total Coupon | [4],[5] | 11.99% | |||||
Maturity | [4],[5] | Mar. 14, 2024 | |||||
Principal | [4],[5] | $ 7,664,445 | |||||
Cost | [4],[5],[11] | 7,608,680 | |||||
Fair Value | [4],[5],[12] | $ 7,541,813 | |||||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | CareATC, Inc. | First Lien Term Loan | SOFR(Q) | Floor rate 1.00% | Spread 7.25% | Total Coupon 13.07% | Maturity 3/14/2024 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 7.75% | |||||
Total Coupon | [2],[3],[9] | 13.07% | |||||
Maturity | [2],[3],[9] | Mar. 14, 2026 | |||||
Principal | [2],[3],[9] | $ 7,664,445 | |||||
Cost | [2],[3],[9],[10] | 7,582,993 | |||||
Fair Value | [1],[2],[3],[9] | $ 7,480,498 | |||||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | ESO Solutions, Inc. | First Lien Revolver | SOFR(Q) | Floor rate 1.00% | Spread 7.00% | Total Coupon 11.59% | Maturity 5/3/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[14] | 1% | |||||
Spread | [4],[5],[14] | 7% | |||||
Total Coupon | [4],[5],[14] | 11.59% | |||||
Maturity | [4],[5],[14] | May 03, 2027 | |||||
Principal | [4],[5],[14] | $ 0 | |||||
Cost | [4],[5],[11],[14] | (8,938) | |||||
Fair Value | [4],[5],[12],[14] | $ (24,651) | |||||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | ESO Solutions, Inc. | First Lien Revolver | SOFR(Q) | Floor rate 1.00% | Spread 7.00% | Total Coupon 12.33% | Maturity 5/3/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 1% | |||||
Spread | [2],[3],[9],[15] | 7% | |||||
Total Coupon | [2],[3],[9],[15] | 12.33% | |||||
Maturity | [2],[3],[9],[15] | May 03, 2027 | |||||
Principal | [2],[3],[9],[15] | $ 369,758 | |||||
Cost | [2],[3],[9],[10],[15] | 361,836 | |||||
Fair Value | [1],[2],[3],[9],[15] | $ 344,492 | |||||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | ESO Solutions, Inc. | First Lien Term Loan | SOFR(Q) | Floor rate 1.00% | Spread 7.00% | Total Coupon 11.59% | Maturity 5/3/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5] | 1% | |||||
Spread | [4],[5] | 7% | |||||
Total Coupon | [4],[5] | 11.59% | |||||
Maturity | [4],[5] | May 03, 2027 | |||||
Principal | [4],[5] | $ 8,380,593 | |||||
Cost | [4],[5],[11] | 8,238,137 | |||||
Fair Value | [4],[5],[12] | $ 8,045,370 | |||||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | ESO Solutions, Inc. | First Lien Term Loan | SOFR(Q) | Floor rate 1.00% | Spread 7.00% | Total Coupon 12.25% | Maturity 5/3/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 7% | |||||
Total Coupon | [2],[3],[9] | 12.25% | |||||
Maturity | [2],[3],[9] | May 03, 2027 | |||||
Principal | [2],[3],[9] | $ 8,380,593 | |||||
Cost | [2],[3],[9],[10] | 8,255,135 | |||||
Fair Value | [1],[2],[3],[9] | $ 8,036,989 | |||||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | Gainwell Acquisition Corp. | Second Lien Term Loan | LIBOR(Q) | Floor rate 1.00% | Spread 8.00% | Total Coupon 11.74% | Maturity 10/2/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5] | 1% | |||||
Spread | [4],[5] | 8% | |||||
Total Coupon | [4],[5] | 11.74% | |||||
Maturity | [4],[5] | Oct. 02, 2028 | |||||
Principal | [4],[5] | $ 2,016,737 | |||||
Cost | [4],[5],[11] | 2,008,293 | |||||
Fair Value | [4],[5],[12] | $ 1,899,767 | |||||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | Gainwell Acquisition Corp. | Second Lien Term Loan | SOFR(Q) | Floor rate 1.00% | Spread 8.00% | Total Coupon 13.04% | Maturity 10/2/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 8% | |||||
Total Coupon | [2],[3],[9] | 13.04% | |||||
Maturity | [2],[3],[9] | Oct. 02, 2028 | |||||
Principal | [2],[3],[9] | $ 2,016,737 | |||||
Cost | [2],[3],[9],[10] | 2,009,227 | |||||
Fair Value | [1],[2],[3],[9] | $ 1,988,503 | |||||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | Sandata Technologies, LLC | First Lien Term Loan | LIBOR(Q) | Spread 6.00% | Total Coupon 10.29% | Maturity 7/23/2024 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5] | 0% | |||||
Spread | [4],[5] | 6% | |||||
Total Coupon | [4],[5] | 10.29% | |||||
Maturity | [4],[5] | Jul. 23, 2024 | |||||
Principal | [4],[5] | $ 500,000 | |||||
Cost | [4],[5],[11] | 497,481 | |||||
Fair Value | [4],[5],[12] | $ 488,500 | |||||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | Sandata Technologies, LLC | First Lien Term Loan | LIBOR(Q) | Spread 6.00% | Total Coupon 10.75% | Maturity 7/23/2024 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5] | 0% | |||||
Spread | [4],[5] | 6% | |||||
Total Coupon | [4],[5] | 10.75% | |||||
Maturity | [4],[5] | Jul. 23, 2024 | |||||
Principal | [4],[5] | $ 4,500,000 | |||||
Cost | [4],[5],[11] | 4,476,424 | |||||
Fair Value | [4],[5],[12] | 4,396,500 | |||||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | Sandata Technologies, LLC | First Lien Term Loan | LIBOR(Q)/SOFR(Q) | Spread 6.00% | Total Coupon 11.46% | Maturity 7/23/2024 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0% | |||||
Spread | [2],[3],[9] | 6% | |||||
Total Coupon | [2],[3],[9] | 11.46% | |||||
Maturity | [2],[3],[9] | Jul. 23, 2024 | |||||
Principal | [2],[3],[9] | $ 500,000 | |||||
Cost | [2],[3],[9],[10] | 498,343 | |||||
Fair Value | [1],[2],[3],[9] | $ 495,500 | |||||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | Sandata Technologies, LLC | First Lien Term Loan | SOFR(Q) | Spread 6.00% |Total Coupon 11.50% | Maturity 7/23/2024 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0% | |||||
Spread | [2],[3],[9] | 6% | |||||
Total Coupon | [2],[3],[9] | 11.50% | |||||
Maturity | [2],[3],[9] | Jul. 23, 2024 | |||||
Principal | [2],[3],[9] | $ 4,500,000 | |||||
Cost | [2],[3],[9],[10] | 4,485,352 | |||||
Fair Value | [1],[2],[3],[9] | 4,459,500 | |||||
Investment, Identifier [Axis]: Debt Investments | Hotels, Restaurants & Leisure | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | 11,244,704 | [2],[3],[9],[10] | 5,131,948 | [4],[5],[11] | |||
Fair Value | $ 11,200,068 | [1],[2],[3],[9] | $ 5,087,470 | [4],[5],[12] | |||
Investment, Identifier [Axis]: Debt Investments | Hotels, Restaurants & Leisure | OCM Luxembourg Baccarat Bidco S.A.R.L. (Interblock) (Slovenia) | First Lien Revolver | PRIME | Floor rate 0.75% | Spread 5.25% | Total Coupon 13.50% | Maturity 6/3/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15],[20],[21] | 0.75% | |||||
Spread | [2],[3],[9],[15],[20],[21] | 5.25% | |||||
Total Coupon | [2],[3],[9],[15],[20],[21] | 13.50% | |||||
Maturity | [2],[3],[9],[15],[20],[21] | Jun. 03, 2027 | |||||
Principal | [2],[3],[9],[15],[20],[21] | $ 209,904 | |||||
Cost | [2],[3],[9],[10],[15],[20],[21] | 203,265 | |||||
Fair Value | [1],[2],[3],[9],[15],[20],[21] | $ 199,829 | |||||
Investment, Identifier [Axis]: Debt Investments | Hotels, Restaurants & Leisure | OCM Luxembourg Baccarat Bidco S.A.R.L. (Interblock) (Slovenia) | First Lien Revolver | SOFR(Q) | Floor rate 0.75% | Spread 6.25% | Total Coupon 10.68% | Maturity 6/3/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[14],[18],[19] | 0.75% | |||||
Spread | [4],[5],[14],[18],[19] | 6.25% | |||||
Total Coupon | [4],[5],[14],[18],[19] | 10.68% | |||||
Maturity | [4],[5],[14],[18],[19] | Jun. 03, 2027 | |||||
Principal | [4],[5],[14],[18],[19] | $ 0 | |||||
Cost | [4],[5],[11],[14],[18],[19] | (7,430) | |||||
Fair Value | [4],[5],[12],[14],[18],[19] | $ (10,915) | |||||
Investment, Identifier [Axis]: Debt Investments | Hotels, Restaurants & Leisure | OCM Luxembourg Baccarat Bidco S.A.R.L. (Interblock) (Slovenia) | First Lien Term Loan | SOFR(Q) | Floor rate 0.75% | Spread 6.25% | Total Coupon 10.68% | Maturity 6/3/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[18],[19] | 0.75% | |||||
Spread | [4],[5],[18],[19] | 6.25% | |||||
Total Coupon | [4],[5],[18],[19] | 10.68% | |||||
Maturity | [4],[5],[18],[19] | Jun. 03, 2027 | |||||
Principal | [4],[5],[18],[19] | $ 5,234,481 | |||||
Cost | [4],[5],[11],[18],[19] | 5,139,378 | |||||
Fair Value | [4],[5],[12],[18],[19] | 5,098,385 | |||||
Investment, Identifier [Axis]: Debt Investments | Hotels, Restaurants & Leisure | OCM Luxembourg Baccarat Bidco S.A.R.L. (Interblock) (Slovenia) | First Lien Term Loan | SOFR(Q) | Floor rate 0.75% | Spread 6.25% | Total Coupon 11.48% | Maturity 6/3/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[20],[21] | 0.75% | |||||
Spread | [2],[3],[9],[20],[21] | 6.25% | |||||
Total Coupon | [2],[3],[9],[20],[21] | 11.48% | |||||
Maturity | [2],[3],[9],[20],[21] | Jun. 03, 2027 | |||||
Principal | [2],[3],[9],[20],[21] | $ 5,208,243 | |||||
Cost | [2],[3],[9],[10],[20],[21] | 5,121,332 | |||||
Fair Value | [1],[2],[3],[9],[20],[21] | $ 5,083,245 | |||||
Investment, Identifier [Axis]: Debt Investments | Hotels, Restaurants & Leisure | Showtime Acquisition, L.L.C (World Choice) | First Lien Term Loan | SOFR(Q) | Floor rate 1.00% | Spread 7.50% | Total Coupon 12.67% | Maturity 8/7/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[9] | 1% | |||||
Spread | [2],[9] | 7.50% | |||||
Total Coupon | [2],[9] | 12.67% | |||||
Maturity | Aug. 07, 2028 | ||||||
Principal | [2],[9] | $ 6,109,360 | |||||
Cost | [2],[9],[10] | 5,937,108 | |||||
Fair Value | [1],[2],[9] | $ 5,938,909 | |||||
Investment, Identifier [Axis]: Debt Investments | Hotels, Restaurants & Leisure | Showtime Acquisition, L.L.C. (World Choice) | First Lien Delayed Draw Term Loan | SOFR(Q) | Floor rate 1.00% | Spread 7.50% | Total Coupon 12.67% | Maturity 8/7/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[9],[15] | 1% | |||||
Spread | [2],[9],[15] | 7.50% | |||||
Total Coupon | [2],[9],[15] | 12.67% | |||||
Maturity | Aug. 07, 2028 | ||||||
Principal | [2],[9],[15] | $ 0 | |||||
Cost | [2],[9],[10],[15] | (4,851) | |||||
Fair Value | [1],[2],[9],[15] | $ (9,740) | |||||
Investment, Identifier [Axis]: Debt Investments | Hotels, Restaurants & Leisure | Showtime Acquisition, L.L.C. (World Choice) | First Lien Revolver | SOFR(Q) | Floor rate 1.00% | Spread 7.50% | Total Coupon 12.67% | Maturity 8/7/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[9],[15] | 1% | |||||
Spread | [2],[9],[15] | 7.50% | |||||
Total Coupon | [2],[9],[15] | 12.67% | |||||
Maturity | Aug. 07, 2028 | ||||||
Principal | [2],[9],[15] | $ 0 | |||||
Cost | [2],[9],[15] | (12,150) | |||||
Fair Value | [1],[2],[9],[15] | (12,175) | |||||
Investment, Identifier [Axis]: Debt Investments | IT Services | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | 20,767,862 | [2],[3],[9],[10] | 14,845,592 | [4],[5],[11],[13] | |||
Fair Value | $ 20,092,477 | [1],[2],[3],[9] | $ 13,999,657 | [4],[5],[12],[13] | |||
Investment, Identifier [Axis]: Debt Investments | IT Services | Avalara, Inc. | First Lien Revolver | SOFR(Q) | Floor Rate 0.75% | Spread 7.25% | Total Coupon 11.83% | Maturity 10/19/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14] | 0.75% | |||||
Spread | [4],[5],[13],[14] | 7.25% | |||||
Total Coupon | [4],[5],[13],[14] | 11.83% | |||||
Maturity | [4],[5],[13],[14] | Oct. 19, 2028 | |||||
Principal | [4],[5],[13],[14] | $ 0 | |||||
Cost | [4],[5],[11],[13],[14] | (5,443) | |||||
Fair Value | [4],[5],[12],[13],[14] | $ (6,750) | |||||
Investment, Identifier [Axis]: Debt Investments | IT Services | Avalara, Inc. | First Lien Revolver | SOFR(Q) | Floor Rate 0.75% | Spread 7.25% | Total Coupon 12.49% | Maturity 10/19/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0.75% | |||||
Spread | [2],[3],[9] | 7.25% | |||||
Total Coupon | [2],[3],[9] | 12.49% | |||||
Maturity | [2],[3],[9] | Oct. 19, 2028 | |||||
Principal | [2],[3],[9] | $ 0 | |||||
Cost | [2],[3],[9],[10] | (4,976) | |||||
Fair Value | [1],[2],[3],[9] | $ (1,125) | |||||
Investment, Identifier [Axis]: Debt Investments | IT Services | Avalara, Inc. | First Lien Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 7.25% | Total Coupon 11.83% | Maturity 10/19/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 0.75% | |||||
Spread | [4],[5],[13] | 7.25% | |||||
Total Coupon | [4],[5],[13] | 11.83% | |||||
Maturity | [4],[5],[13] | Oct. 19, 2028 | |||||
Principal | [4],[5],[13] | $ 2,250,000 | |||||
Cost | [4],[5],[11],[13] | 2,194,940 | |||||
Fair Value | [4],[5],[12],[13] | $ 2,182,500 | |||||
Investment, Identifier [Axis]: Debt Investments | IT Services | Avalara, Inc. | First Lien Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 7.25% | Total Coupon 12.49% | Maturity 10/19/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0.75% | |||||
Spread | [2],[3],[9] | 7.25% | |||||
Total Coupon | [2],[3],[9] | 12.49% | |||||
Maturity | [2],[3],[9] | Oct. 19, 2028 | |||||
Principal | [2],[3],[9] | $ 2,250,000 | |||||
Cost | [2],[3],[9],[10] | 2,199,467 | |||||
Fair Value | [1],[2],[3],[9] | $ 2,238,750 | |||||
Investment, Identifier [Axis]: Debt Investments | IT Services | Ensono, Inc. | Second Lien Term Loan B | LIBOR(S) | Spread 8.00% | Total Coupon 13.15% | Maturity 5/28/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 0% | |||||
Spread | [4],[5],[13] | 8% | |||||
Total Coupon | [4],[5],[13] | 13.15% | |||||
Maturity | [4],[5],[13] | May 28, 2029 | |||||
Principal | [4],[5],[13] | $ 5,000,000 | |||||
Cost | [4],[5],[11],[13] | 4,958,482 | |||||
Fair Value | [4],[5],[12],[13] | $ 4,625,000 | |||||
Investment, Identifier [Axis]: Debt Investments | IT Services | Ensono, Inc. | Second Lien Term Loan B | SOFR(M) | Spread 8.00% | Total Coupon 13.22% | Maturity 5/28/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0% | |||||
Spread | [2],[3],[9] | 8% | |||||
Total Coupon | [2],[3],[9] | 13.22% | |||||
Maturity | [2],[3],[9] | May 28, 2029 | |||||
Principal | [2],[3],[9] | $ 5,000,000 | |||||
Cost | [2],[3],[9],[10] | 4,963,345 | |||||
Fair Value | [1],[2],[3],[9] | $ 4,535,000 | |||||
Investment, Identifier [Axis]: Debt Investments | IT Services | Idera, Inc. | Second Lien Term Loan | LIBOR(Q) | Floor Rate 0.75% | Spread 6.75% | Total Coupon 10.50% | Maturity 2/4/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 0.75% | |||||
Spread | [4],[5],[13] | 6.75% | |||||
Total Coupon | [4],[5],[13] | 10.50% | |||||
Maturity | [4],[5],[13] | Feb. 04, 2029 | |||||
Principal | [4],[5],[13] | $ 2,867,296 | |||||
Cost | [4],[5],[11],[13] | 2,849,793 | |||||
Fair Value | [4],[5],[12],[13] | $ 2,351,183 | |||||
Investment, Identifier [Axis]: Debt Investments | IT Services | Idera, Inc. | Second Lien Term Loan | SOFR(M) | Floor Rate 0.75% | Spread 6.75% | Total Coupon 12.01% | Maturity 2/4/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0.75% | |||||
Spread | [2],[3],[9] | 6.75% | |||||
Total Coupon | [2],[3],[9] | 12.01% | |||||
Maturity | [2],[3],[9] | Feb. 04, 2029 | |||||
Principal | [2],[3],[9] | $ 2,867,296 | |||||
Cost | [2],[3],[9],[10] | 2,852,573 | |||||
Fair Value | [1],[2],[3],[9] | $ 2,508,884 | |||||
Investment, Identifier [Axis]: Debt Investments | IT Services | Madison Logic Holdings, Inc. | First Lien Revolver | SOFR(Q) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 12.24% | Maturity 12/30/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 7% | |||||
Total Coupon | [2],[3],[9] | 12.24% | |||||
Maturity | [2],[3],[9] | Dec. 30, 2027 | |||||
Principal | [2],[3],[9] | $ 0 | |||||
Cost | [2],[3],[9],[10] | (9,717) | |||||
Fair Value | [1],[2],[3],[9] | $ (9,706) | |||||
Investment, Identifier [Axis]: Debt Investments | IT Services | Madison Logic Holdings, Inc. | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 11.58% | Maturity 12/29/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5],[13] | 7% | |||||
Total Coupon | [4],[5],[13] | 11.58% | |||||
Maturity | [4],[5],[13] | Dec. 29, 2028 | |||||
Principal | [4],[5],[13] | $ 5,008,771 | |||||
Cost | [4],[5],[11],[13] | 4,858,604 | |||||
Fair Value | [4],[5],[12],[13] | $ 4,858,508 | |||||
Investment, Identifier [Axis]: Debt Investments | IT Services | Madison Logic Holdings, Inc. | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 12.24% | Maturity 12/29/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 7% | |||||
Total Coupon | [2],[3],[9] | 12.24% | |||||
Maturity | [2],[3],[9] | Dec. 29, 2028 | |||||
Principal | [2],[3],[9] | $ 4,996,249 | |||||
Cost | [2],[3],[9],[10] | 4,854,068 | |||||
Fair Value | [1],[2],[3],[9] | $ 4,861,350 | |||||
Investment, Identifier [Axis]: Debt Investments | IT Services | Madison Logic Holdings, Inc. | First Lien Term Revolver | SOFR(Q) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 11.58% | Maturity 12/30/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14] | 1% | |||||
Spread | [4],[5],[13],[14] | 7% | |||||
Total Coupon | [4],[5],[13],[14] | 11.58% | |||||
Maturity | [4],[5],[13],[14] | Dec. 30, 2027 | |||||
Principal | [4],[5],[13],[14] | $ 0 | |||||
Cost | [4],[5],[11],[13],[14] | (10,784) | |||||
Fair Value | [4],[5],[12],[13],[14] | (10,784) | |||||
Investment, Identifier [Axis]: Debt Investments | IT Services | Serrano Parent, LLC (Sumo Logic) | First Lien Revolver | SOFR(Q) | Floor Rate 1.00% | Spread 6.50% | Total Coupon 11.60% | Maturity 5/13/2030 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 6.50% | |||||
Total Coupon | [2],[3],[9] | 11.60% | |||||
Maturity | [2],[3],[9] | May 13, 2030 | |||||
Principal | [2],[3],[9] | $ 0 | |||||
Cost | [2],[3],[9],[10] | (14,916) | |||||
Fair Value | [1],[2],[3],[9] | $ (10,943) | |||||
Investment, Identifier [Axis]: Debt Investments | IT Services | Serrano Parent, LLC (Sumo Logic) | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 6.50% | Total Coupon 11.60% | Maturity 5/13/2030 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 6.50% | |||||
Total Coupon | [2],[3],[9] | 11.60% | |||||
Maturity | [2],[3],[9] | May 13, 2030 | |||||
Principal | [2],[3],[9] | $ 6,079,701 | |||||
Cost | [2],[3],[9],[10] | 5,928,018 | |||||
Fair Value | [1],[2],[3],[9] | 5,970,267 | |||||
Investment, Identifier [Axis]: Debt Investments | Insurance | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | 14,556,637 | [2],[3],[10] | 14,147,478 | [4],[5],[11] | |||
Fair Value | $ 14,639,839 | [1],[2],[3] | $ 14,213,824 | [4],[5],[12] | |||
Investment, Identifier [Axis]: Debt Investments | Insurance | AmeriLife Holdings, LLC | First Lien Delayed Draw Term Loan | SOFR(S) | Floor rate 0.75% | Spread 5.75% | Total Coupon 10.15% | Maturity 8/31/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[14] | 0.75% | |||||
Spread | [4],[5],[14] | 5.75% | |||||
Total Coupon | [4],[5],[14] | 10.15% | |||||
Maturity | [4],[5],[14] | Aug. 31, 2029 | |||||
Principal | [4],[5],[14] | $ 686,959 | |||||
Cost | [4],[5],[11],[14] | 670,390 | |||||
Fair Value | [4],[5],[12],[14] | $ 644,711 | |||||
Investment, Identifier [Axis]: Debt Investments | Insurance | AmeriLife Holdings, LLC | First Lien Delayed Draw Term Loan | SOFR(S) | Floor rate 0.75% | Spread 5.75% | Total Coupon 10.62% | Maturity 8/31/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0.75% | |||||
Spread | [2],[3],[9] | 5.75% | |||||
Total Coupon | [2],[3],[9] | 10.62% | |||||
Maturity | [2],[3],[9],[15] | Aug. 31, 2029 | |||||
Principal | [2],[3],[9],[15] | $ 683,524 | |||||
Cost | [2],[3],[9],[10],[15] | 668,050 | |||||
Fair Value | [1],[2],[3],[9],[15] | $ 651,687 | |||||
Investment, Identifier [Axis]: Debt Investments | Insurance | AmeriLife Holdings, LLC | First Lien Revolver | SOFR(Q) | Floor rate 0.75% | Spread 5.75% | Total Coupon 9.58% | Maturity 8/31/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[14] | 0.75% | |||||
Spread | [4],[5],[14] | 5.75% | |||||
Total Coupon | [4],[5],[14] | 9.58% | |||||
Maturity | [4],[5],[14] | Aug. 31, 2028 | |||||
Principal | [4],[5],[14] | $ 0 | |||||
Cost | [4],[5],[11],[14] | (9,728) | |||||
Fair Value | [4],[5],[12],[14] | $ (21,124) | |||||
Investment, Identifier [Axis]: Debt Investments | Insurance | AmeriLife Holdings, LLC | First Lien Revolver | SOFR(S) | Floor rate 0.75% | Spread 5.75% | Total Coupon 10.99% | Maturity 8/31/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 0.75% | |||||
Spread | [2],[3],[9] | 5.75% | |||||
Total Coupon | [2],[3],[9],[15] | 10.99% | |||||
Maturity | [2],[3],[9],[15] | Aug. 31, 2028 | |||||
Principal | [2],[3],[9],[15] | $ 85,870 | |||||
Cost | [2],[3],[9],[10],[15] | 76,971 | |||||
Fair Value | [1],[2],[3],[9],[15] | $ 69,898 | |||||
Investment, Identifier [Axis]: Debt Investments | Insurance | AmeriLife Holdings, LLC | First Lien Term Loan | SOFR(Q) | Floor rate 0.75% | Spread 5.75% | Total Coupon 9.58% | Maturity 8/31/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5] | 0.75% | |||||
Spread | [4],[5] | 5.75% | |||||
Total Coupon | [4],[5] | 9.58% | |||||
Maturity | [4],[5] | Aug. 31, 2029 | |||||
Principal | [4],[5] | $ 4,121,752 | |||||
Cost | [4],[5],[11] | 4,043,233 | |||||
Fair Value | [4],[5],[12] | $ 3,952,760 | |||||
Investment, Identifier [Axis]: Debt Investments | Insurance | AmeriLife Holdings, LLC | First Lien Term Loan | SOFR(S) | Floor rate 0.75% | Spread 5.75% | Total Coupon 10.88% | Maturity 8/31/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 0.75% | |||||
Spread | [2],[3],[9],[15] | 5.75% | |||||
Total Coupon | [2],[3],[9],[15] | 10.88% | |||||
Maturity | [2],[3],[9] | Aug. 31, 2029 | |||||
Principal | [2],[3],[9] | $ 4,101,143 | |||||
Cost | [2],[3],[9],[10] | 4,027,208 | |||||
Fair Value | [1],[2],[3],[9] | $ 3,974,007 | |||||
Investment, Identifier [Axis]: Debt Investments | Insurance | IT Parent, LLC (Insurance Technologies) | First Lien Revolver | LIBOR(M)/Prime | Floor rate 1.00% | Spread 6.25% | Total Coupon 11.21% | Maturity 10/1/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[14],[34] | 1% | |||||
Spread | [4],[5],[14],[34] | 6.25% | |||||
Total Coupon | [4],[5],[14],[34] | 11.21% | |||||
Maturity | [4],[5],[14],[34] | Oct. 01, 2026 | |||||
Principal | [4],[5],[14],[34] | $ 183,333 | |||||
Cost | [4],[5],[11],[14],[34] | 180,108 | |||||
Fair Value | [4],[5],[12],[14],[34] | $ 167,083 | |||||
Investment, Identifier [Axis]: Debt Investments | Insurance | IT Parent, LLC (Insurance Technologies) | First Lien Revolver | SOFR(M) | Floor rate 1.00% | Spread 6.25% | Total Coupon 11.46% | Maturity 10/1/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 6.25% | |||||
Total Coupon | [2],[3],[9] | 11.46% | |||||
Maturity | [2],[3],[9] | Oct. 01, 2026 | |||||
Principal | [2],[3],[9] | $ 208,333 | |||||
Cost | [2],[3],[9],[10] | 205,459 | |||||
Fair Value | [1],[2],[3],[9] | $ 189,833 | |||||
Investment, Identifier [Axis]: Debt Investments | Insurance | IT Parent, LLC (Insurance Technologies) | First Lien Term Loan | LIBOR(M) | Floor rate 1.00% | Spread 6.25% | Total Coupon 10.63% | Maturity 10/1/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5] | 1% | |||||
Spread | [4],[5] | 6.25% | |||||
Total Coupon | [4],[5] | 10.63% | |||||
Maturity | [4],[5] | Oct. 01, 2026 | |||||
Principal | [4],[5] | $ 1,933,651 | |||||
Cost | [4],[5],[11] | 1,907,627 | |||||
Fair Value | [4],[5],[12] | $ 1,807,963 | |||||
Investment, Identifier [Axis]: Debt Investments | Insurance | IT Parent, LLC (Insurance Technologies) | First Lien Term Loan | SOFR(M) | Floor rate 1.00% | Spread 6.25% | Total Coupon 11.45% | Maturity 10/1/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 6.25% | |||||
Total Coupon | [2],[3],[9] | 11.45% | |||||
Maturity | [2],[3],[9] | Oct. 01, 2026 | |||||
Principal | [2],[3],[9] | $ 1,923,785 | |||||
Cost | [2],[3],[9],[10] | 1,901,403 | |||||
Fair Value | [1],[2],[3],[9] | $ 1,781,425 | |||||
Investment, Identifier [Axis]: Debt Investments | Insurance | Integrity Marketing Acquisition, LLC | First Lien Incremental Revolver | SOFR(M) | Floor rate 0.75% | Spread 6.50% | Total Coupon 10.82% | Maturity 8/27/2025 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[14] | 0.75% | |||||
Spread | [4],[5],[14] | 6.50% | |||||
Total Coupon | [4],[5],[14] | 10.82% | |||||
Maturity | [4],[5],[14] | Aug. 27, 2025 | |||||
Principal | [4],[5],[14] | $ 0 | |||||
Cost | [4],[5],[11],[14] | (396,355) | |||||
Fair Value | [4],[5],[12],[14] | $ (41,342) | |||||
Investment, Identifier [Axis]: Debt Investments | Insurance | Integrity Marketing Acquisition, LLC | First Lien Incremental Revolver | SOFR(Q) | Floor rate 0.75% | Spread 6.50% | Total Coupon 11.76% | Maturity 8/27/2025 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0.75% | |||||
Spread | [2],[3],[9] | 6.50% | |||||
Total Coupon | [2],[3],[9] | 11.76% | |||||
Maturity | [2],[3],[9] | Aug. 27, 2025 | |||||
Principal | [2],[3],[9] | $ 0 | |||||
Cost | [2],[3],[9],[10] | (325,381) | |||||
Fair Value | [1],[2],[3],[9] | $ (20,671) | |||||
Investment, Identifier [Axis]: Debt Investments | Insurance | Integrity Marketing Acquisition, LLC | First Lien Incremental Term Loan | SOFR(M) | Floor rate 0.75% | Spread 6.50% | Total Coupon 10.82% | Maturity 8/27/2025 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5] | 0.75% | |||||
Spread | [4],[5] | 6.50% | |||||
Total Coupon | [4],[5] | 10.82% | |||||
Maturity | [4],[5] | Aug. 27, 2025 | |||||
Principal | [4],[5] | $ 5,167,753 | |||||
Cost | [4],[5],[11] | 5,078,283 | |||||
Fair Value | [4],[5],[12] | $ 5,126,411 | |||||
Investment, Identifier [Axis]: Debt Investments | Insurance | Integrity Marketing Acquisition, LLC | First Lien Incremental Term Loan | SOFR(Q) | Floor rate 0.75% | Spread 6.50% | Total Coupon 11.76% | Maturity 8/27/2025 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0.75% | |||||
Spread | [2],[3],[9] | 6.50% | |||||
Total Coupon | [2],[3],[9] | 11.76% | |||||
Maturity | [2],[3],[9] | Aug. 27, 2025 | |||||
Principal | [2],[3],[9] | $ 5,141,914 | |||||
Cost | [2],[3],[9],[10] | 5,067,580 | |||||
Fair Value | [1],[2],[3],[9] | $ 5,121,347 | |||||
Investment, Identifier [Axis]: Debt Investments | Insurance | Peter C. Foy & Associates Insurance Services, LLC (PCF Insurance) | First Lien Delayed Draw Term Loan | SOFR(M) | Floor rate 0.75% | Spread 6.00% | Total Coupon 11.22% | Maturity 11/1/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0.75% | |||||
Spread | [2],[3],[9] | 6% | |||||
Total Coupon | [2],[3],[9] | 11.22% | |||||
Maturity | [2],[3],[9] | Nov. 01, 2028 | |||||
Principal | [2],[3],[9] | $ 2,122,239 | |||||
Cost | [2],[3],[9],[10] | 2,097,830 | |||||
Fair Value | [1],[2],[3],[9] | $ 2,052,205 | |||||
Investment, Identifier [Axis]: Debt Investments | Insurance | Peter C. Foy & Associates Insurance Services, LLC (PCF Insurance) | First Lien Delayed Draw Term Loan | SOFR(S) | Floor rate 0.75% | Spread 6.00% | Total Coupon 11.11% | Maturity 11/1/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[14] | 0.75% | |||||
Spread | [4],[5],[14] | 6% | |||||
Total Coupon | [4],[5],[14] | 11.11% | |||||
Maturity | [4],[5],[14] | Nov. 01, 2028 | |||||
Principal | [4],[5],[14] | $ 1,859,529 | |||||
Cost | [4],[5],[11],[14] | 1,833,303 | |||||
Fair Value | [4],[5],[12],[14] | $ 1,763,340 | |||||
Investment, Identifier [Axis]: Debt Investments | Insurance | Peter C. Foy & Associates Insurance Services, LLC (PCF Insurance) | First Lien Term Loan | SOFR(M) | Floor rate 0.75% | Spread 6.00% | Total Coupon 11.22% | Maturity 11/1/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0.75% | |||||
Spread | [2],[3],[9] | 6% | |||||
Total Coupon | [2],[3],[9] | 11.22% | |||||
Maturity | [2],[3],[9] | Nov. 01, 2028 | |||||
Principal | [2],[3],[9] | $ 848,095 | |||||
Cost | [2],[3],[9],[10] | 837,517 | |||||
Fair Value | [1],[2],[3],[9] | 820,108 | |||||
Investment, Identifier [Axis]: Debt Investments | Insurance | Peter C. Foy & Associates Insurance Services, LLC (PCF Insurance) | First Lien Term Loan | SOFR(S) | Floor rate 0.75% | Spread 6.00% | Total Coupon 11.12% | Maturity 11/1/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5] | 0.75% | |||||
Spread | [4],[5] | 6% | |||||
Total Coupon | [4],[5] | 11.12% | |||||
Maturity | [4],[5] | Nov. 01, 2028 | |||||
Principal | [4],[5] | $ 852,379 | |||||
Cost | [4],[5],[11] | 840,617 | |||||
Fair Value | [4],[5],[12] | 814,022 | |||||
Investment, Identifier [Axis]: Debt Investments | Internet & Catalog Retail | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | 6,695,169 | [2],[3],[9],[10] | 6,690,245 | [4],[5],[11],[13] | |||
Fair Value | $ 6,000,784 | [1],[2],[3],[9] | $ 5,670,715 | [4],[5],[12],[13] | |||
Investment, Identifier [Axis]: Debt Investments | Internet & Catalog Retail | CommerceHub, Inc. | First Lien Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 6.25% | Total Coupon 11.47% | Maturity 12/29/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0.75% | |||||
Spread | [2],[3],[9] | 6.25% | |||||
Total Coupon | [2],[3],[9] | 11.47% | |||||
Maturity | [2],[3],[9] | Dec. 29, 2027 | |||||
Principal | [2],[3],[9] | $ 2,214,586 | |||||
Cost | [2],[3],[9],[10] | 2,074,398 | |||||
Fair Value | [1],[2],[3],[9] | $ 2,075,067 | |||||
Investment, Identifier [Axis]: Debt Investments | Internet & Catalog Retail | Syndigo, LLC | Second Lien Term Loan | LIBOR(Q) | Floor Rate 0.75% | Spread 8.00% | Total Coupon 13.55% | Maturity 12/14/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0.75% | |||||
Spread | [2],[3],[9] | 8% | |||||
Total Coupon | [2],[3],[9] | 13.55% | |||||
Maturity | [2],[3],[9] | Dec. 14, 2028 | |||||
Principal | [2],[3],[9] | $ 4,673,472 | |||||
Cost | [2],[3],[9],[10] | 4,620,771 | |||||
Fair Value | [1],[2],[3],[9] | 3,925,717 | |||||
Investment, Identifier [Axis]: Debt Investments | Internet & Catalog Retail | Syndigo, LLC | Second Lien Term Loan | LIBOR(S) | Floor Rate 0.75% | Spread 8.00% | Total Coupon 13.21% | Maturity 12/14/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 0.75% | |||||
Spread | [4],[5],[13] | 8% | |||||
Total Coupon | [4],[5],[13] | 13.21% | |||||
Maturity | [4],[5],[13] | Dec. 14, 2028 | |||||
Principal | [4],[5],[13] | $ 4,673,472 | |||||
Cost | [4],[5],[11],[13] | 4,617,397 | |||||
Fair Value | [4],[5],[12],[13] | 3,598,574 | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | 75,761,391 | [2],[3],[10] | 66,853,671 | [4],[5],[11],[13] | |||
Fair Value | $ 68,711,784 | [1],[2],[3] | $ 63,165,311 | [4],[5],[12],[13] | |||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Anaconda, Inc. | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 7.50% | Total Coupon 11.86% | Maturity 8/22/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5],[13] | 7.50% | |||||
Total Coupon | [4],[5],[13] | 11.86% | |||||
Maturity | [4],[5],[13] | Aug. 22, 2027 | |||||
Principal | [4],[5],[13] | $ 1,938,957 | |||||
Cost | [4],[5],[11],[13] | 1,920,501 | |||||
Fair Value | [4],[5],[12],[13] | $ 1,911,811 | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Anaconda, Inc. | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 7.50% | Total Coupon 12.73% | Maturity 8/22/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 7.50% | |||||
Total Coupon | [2],[3],[9] | 12.73% | |||||
Maturity | [2],[3],[9] | Aug. 22, 2027 | |||||
Principal | [2],[3],[9] | $ 1,938,957 | |||||
Cost | [2],[3],[9],[10] | 1,921,915 | |||||
Fair Value | [1],[2],[3],[9] | $ 1,902,116 | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Astra Acquisition Corp. (Anthology) | Second Lien Term Loan | LIBOR(M) | Floor Rate 0.75% | Spread 8.88% | Total Coupon 13.26% | Maturity 10/25/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 0.75% | |||||
Spread | [4],[5],[13] | 8.88% | |||||
Total Coupon | [4],[5],[13] | 13.26% | |||||
Maturity | [4],[5],[13] | Oct. 25, 2029 | |||||
Principal | [4],[5],[13] | $ 7,164,842 | |||||
Cost | [4],[5],[11],[13] | 7,034,117 | |||||
Fair Value | [4],[5],[12],[13] | $ 6,376,709 | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Astra Acquisition Corp. (Anthology) | Second Lien Term Loan | SOFR(M) | Floor Rate 0.75% | Spread 8.88% | Total Coupon 14.09% | Maturity 10/25/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0.75% | |||||
Spread | [2],[3],[9] | 8.88% | |||||
Total Coupon | [2],[3],[9] | 14.09% | |||||
Maturity | [2],[3],[9] | Oct. 25, 2029 | |||||
Principal | [2],[3],[9] | $ 7,164,842 | |||||
Cost | [2],[3],[9],[10] | 7,045,756 | |||||
Fair Value | [1],[2],[3],[9] | $ 3,851,103 | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Bynder Bidco B.V. (Netherlands) | First Lien Revolver A | SOFR(S) | Floor Rate 1.00% | Spread 7.25% | Total Coupon 12.05% | Maturity 1/26/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 7.25% | |||||
Total Coupon | [2],[3],[9] | 12.05% | |||||
Maturity | [2],[3],[9] | Jan. 26, 2029 | |||||
Principal | [2],[3],[9] | $ 0 | |||||
Cost | [2],[3],[9],[10] | (2,897) | |||||
Fair Value | [1],[2],[3],[9] | $ (2,912) | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Bynder Bidco B.V. (Netherlands) | First Lien Revolver B | SOFR(S) | Floor Rate 1.00% | Spread 7.25% | Total Coupon 12.05% | Maturity 1/26/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 7.25% | |||||
Total Coupon | [2],[3],[9] | 12.05% | |||||
Maturity | [2],[3],[9] | Jan. 26, 2029 | |||||
Principal | [2],[3],[9] | $ 0 | |||||
Cost | [2],[3],[9],[10] | (10,514) | |||||
Fair Value | [1],[2],[3],[9] | $ (10,568) | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Bynder Bidco B.V. (Netherlands) | First Lien Term Loan B | SOFR(S) | Floor Rate 1.00% | Spread 7.25% | Total Coupon 12.05% | Maturity 1/26/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 7.25% | |||||
Total Coupon | [2],[3],[9] | 12.05% | |||||
Maturity | [2],[3],[9] | Jan. 26, 2029 | |||||
Principal | [2],[3],[9] | $ 4,653,609 | |||||
Cost | [2],[3],[9],[10] | 4,519,598 | |||||
Fair Value | [1],[2],[3],[9] | $ 4,523,308 | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Bynder Bidco, Inc. (Netherlands) | First Lien Term Loan A | SOFR(S) | Floor Rate 1.00% | Spread 7.25% | Total Coupon 12.05% | Maturity 1/26/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 7.25% | |||||
Total Coupon | [2],[3],[9] | 12.05% | |||||
Maturity | [2],[3],[9] | Jan. 26, 2029 | |||||
Principal | [2],[3],[9] | $ 1,283,754 | |||||
Cost | [2],[3],[9],[10] | 1,246,786 | |||||
Fair Value | [1],[2],[3],[9] | $ 1,247,809 | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | CommerceHub, Inc. | First Lien Term Loan | Quarterly LIBOR | Floor Rate 1.00% | Spread 6.00% | Total Coupon 10.41% | Maturity 11/7/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 0.75% | |||||
Spread | [4],[5],[13] | 5.25% | |||||
Total Coupon | [4],[5],[13] | 12.25% | |||||
Maturity | [4],[5],[13] | Dec. 29, 2027 | |||||
Principal | [4],[5],[13] | $ 2,225,715 | |||||
Cost | [4],[5],[11],[13] | 2,072,848 | |||||
Fair Value | [4],[5],[12],[13] | $ 2,072,141 | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Gympass US, LLC | First Lien Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 4.00% cash+ 4.00% PIK | Total Coupon 13.26% | Maturity 7/8/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Interest Rate, PIK | [2],[3],[9] | 4% | |||||
Interest Rate, Cash | [2],[3],[9] | 4% | |||||
Total Coupon | [2],[3],[9] | 13.26% | |||||
Maturity | [2],[3],[9] | Jul. 08, 2027 | |||||
Principal | [2],[3],[9] | $ 1,962,111 | |||||
Cost | [2],[3],[9],[10] | 1,946,678 | |||||
Fair Value | [1],[2],[3],[9] | $ 1,942,490 | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Gympass US, LLC | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 4.00% cash+ 4.00% PIK | Total Coupon 12.77% | Maturity 7/8/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[22] | 1% | |||||
Interest Rate, PIK | [4],[5],[13],[22] | 4% | |||||
Interest Rate, Cash | [4],[5],[13],[22] | 4% | |||||
Total Coupon | [4],[5],[13],[22] | 12.77% | |||||
Maturity | [4],[5],[13],[22] | Jul. 08, 2027 | |||||
Principal | [4],[5],[13],[22] | $ 1,922,747 | |||||
Cost | [4],[5],[11],[13],[22] | 1,905,105 | |||||
Fair Value | [4],[5],[12],[13],[22] | $ 1,890,061 | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | InMoment, Inc. | First Lien Term Loan | SOFR(S) | Floor Rate 0.75% | Spread 5.00% cash+ 2.50% PIK | Total Coupon 11.58% | Maturity 6/8/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[22] | 0.75% | |||||
Interest Rate, PIK | [4],[5],[13],[22] | 2.50% | |||||
Interest Rate, Cash | [4],[5],[13],[22] | 5% | |||||
Total Coupon | [4],[5],[13],[22] | 11.58% | |||||
Maturity | [4],[5],[13],[22] | Jun. 08, 2028 | |||||
Principal | [4],[5],[13],[22] | $ 11,460,476 | |||||
Cost | [4],[5],[11],[13],[22] | 11,247,733 | |||||
Fair Value | [4],[5],[12],[13],[22] | $ 11,195,739 | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | InMoment, Inc. | First Lien Term Loan | SOFR(S) | Floor Rate 0.75% | Spread 5.00% cash+ 2.50% PIK | Total Coupon 12.34% | Maturity 6/8/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0.75% | |||||
Interest Rate, PIK | [2],[3],[9] | 2.50% | |||||
Interest Rate, Cash | [2],[3],[9] | 5% | |||||
Total Coupon | [2],[3],[9] | 12.34% | |||||
Maturity | [2],[3],[9] | Jun. 08, 2028 | |||||
Principal | [2],[3],[9] | $ 11,605,782 | |||||
Cost | [2],[3],[9],[10] | 11,409,369 | |||||
Fair Value | [1],[2],[3],[9] | $ 11,327,243 | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Magenta Buyer, LLC (McAfee) | First Lien Incremental Term Loan | Fixed | Spread 12.00% | Total Coupon 12.00% | Maturity 7/27/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | 0% | [2],[3],[9] | 0% | [4],[5],[13],[24] | |||
Spread | 12% | [2],[3],[9] | 12% | [4],[5],[13],[24] | |||
Total Coupon | 12% | [2],[3],[9] | 12% | [4],[5],[13],[24] | |||
Maturity | Jul. 27, 2028 | [2],[3],[9] | Jul. 27, 2028 | [4],[5],[13],[24] | |||
Principal | $ 1,303,641 | [2],[3],[9] | $ 667,101 | [4],[5],[13],[24] | |||
Cost | 1,189,567 | [2],[3],[9],[10] | 600,391 | [4],[5],[11],[13],[24] | |||
Fair Value | $ 1,055,949 | [1],[2],[3],[9] | $ 620,404 | [4],[5],[12],[13],[24] | |||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Magenta Buyer, LLC (McAfee) | Second Lien Term Loan | LIBOR(Q) | Floor Rate 0.75% | Spread 8.25% | Total Coupon 12.67% | Maturity 7/27/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[24] | 0.75% | |||||
Spread | [4],[5],[13],[24] | 8.25% | |||||
Total Coupon | [4],[5],[13],[24] | 12.67% | |||||
Maturity | [4],[5],[13],[24] | Jul. 27, 2029 | |||||
Principal | [4],[5],[13],[24] | $ 7,000,000 | |||||
Cost | [4],[5],[11],[13],[24] | 6,913,061 | |||||
Fair Value | [4],[5],[12],[13],[24] | $ 5,483,310 | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Magenta Buyer, LLC (McAfee) | Second Lien Term Loan | LIBOR(Q) | Floor Rate 0.75% | Spread 8.25% | Total Coupon 13.53% | Maturity 7/27/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0.75% | |||||
Spread | [2],[3],[9] | 8.25% | |||||
Total Coupon | [2],[3],[9] | 13.53% | |||||
Maturity | [2],[3],[9] | Jul. 27, 2029 | |||||
Principal | [2],[3],[9] | $ 7,000,000 | |||||
Cost | [2],[3],[9],[10] | 6,918,149 | |||||
Fair Value | [1],[2],[3],[9] | $ 4,515,000 | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Oranje Holdco, Inc. (KnowBe4) | First Lien Revolver | SOFR(Q) | Floor Rate 1.00% | Spread 7.75% | Total Coupon 12.79% | Maturity 2/1/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 7.75% | |||||
Total Coupon | [2],[3],[9] | 12.79% | |||||
Maturity | [2],[3],[9] | Feb. 01, 2029 | |||||
Principal | [2],[3],[9] | $ 0 | |||||
Cost | [2],[3],[9],[10] | (9,708) | |||||
Fair Value | [1],[2],[3],[9] | $ (7,507) | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Oranje Holdco, Inc. (KnowBe4) | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 7.75% | Total Coupon 12.79% | Maturity 2/1/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 7.75% | |||||
Total Coupon | [2],[3],[9] | 12.79% | |||||
Maturity | [2],[3],[9] | Feb. 01, 2029 | |||||
Principal | [2],[3],[9] | $ 3,336,406 | |||||
Cost | [2],[3],[9],[10] | 3,257,582 | |||||
Fair Value | [1],[2],[3],[9] | $ 3,276,351 | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Persado, Inc. | First Lien Delayed Draw Term Loan (6.575% Exit Fee) | SOFR(M) | Floor Rate 1.80% | Spread 7.00% | Total Coupon 11.12% | Maturity 6/10/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14] | 1.80% | |||||
Spread | [4],[5],[13],[14] | 7% | |||||
Total Coupon | [4],[5],[13],[14] | 11.12% | |||||
Maturity | [4],[5],[13],[14] | Jun. 10, 2027 | |||||
Principal | [4],[5],[13],[14] | $ 1,562,500 | |||||
Cost | [4],[5],[11],[13],[14] | 1,552,329 | |||||
Fair Value | [4],[5],[12],[13],[14] | $ 1,111,570 | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Persado, Inc. | First Lien Delayed Draw Term Loan (6.575% Exit Fee) | SOFR(M) | Floor Rate 1.80% | Spread 7.50% | Total Coupon 12.66% | Maturity 6/10/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1.80% | |||||
Spread | [2],[3],[9] | 7.50% | |||||
Total Coupon | [2],[3],[9] | 12.66% | |||||
Maturity | [2],[3],[9] | Jun. 10, 2027 | |||||
Principal | [2],[3],[9] | $ 1,328,125 | |||||
Cost | [2],[3],[9],[10] | 1,321,098 | |||||
Fair Value | [1],[2],[3],[9] | $ 1,216,563 | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Persado, Inc. | First Lien Term Loan (6.575% Exit Fee) | SOFR(M) | Floor Rate 1.80% | Spread 7.00% | Total Coupon 11.12% | Maturity 6/10/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1.80% | |||||
Spread | [4],[5],[13] | 7% | |||||
Total Coupon | [4],[5],[13] | 11.12% | |||||
Maturity | [4],[5],[13] | Jun. 10, 2027 | |||||
Principal | [4],[5],[13] | $ 5,830,726 | |||||
Cost | [4],[5],[11],[13] | 5,754,713 | |||||
Fair Value | [4],[5],[12],[13] | $ 5,518,783 | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Persado, Inc. | First Lien Term Loan (6.575% Exit Fee) | SOFR(M) | Floor Rate 1.80% | Spread 7.50% | Total Coupon 12.66% | Maturity 6/10/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1.80% | |||||
Spread | [2],[3],[9] | 7.50% | |||||
Total Coupon | [2],[3],[9] | 12.66% | |||||
Maturity | [2],[3],[9] | Jun. 10, 2027 | |||||
Principal | [2],[3],[9] | $ 4,956,117 | |||||
Cost | [2],[3],[9],[10] | 4,899,712 | |||||
Fair Value | [1],[2],[3],[9] | $ 4,539,804 | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Pluralsight, Inc. | First Lien Revolver | LIBOR(M) | Floor Rate 1.00% | Spread 8.00% | Total Coupon 12.36% | Maturity 4/6/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14] | 1% | |||||
Spread | [4],[5],[13],[14] | 8% | |||||
Total Coupon | [4],[5],[13],[14] | 12.36% | |||||
Maturity | [4],[5],[13],[14] | Apr. 06, 2027 | |||||
Principal | [4],[5],[13],[14] | $ 465,183 | |||||
Cost | [4],[5],[11],[13],[14] | 451,936 | |||||
Fair Value | [4],[5],[12],[13],[14] | $ 428,899 | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Pluralsight, Inc. | First Lien Revolver | SOFR(Q) | Floor Rate 1.00% | Spread 8.00% | Total Coupon 13.04% | Maturity 4/6/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 8% | |||||
Total Coupon | [2],[3],[9] | 13.04% | |||||
Maturity | [2],[3],[9] | Apr. 06, 2027 | |||||
Principal | [2],[3],[9] | $ 465,183 | |||||
Cost | [2],[3],[9],[10] | 453,334 | |||||
Fair Value | [1],[2],[3],[9] | $ 422,386 | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Pluralsight, Inc. | First Lien Term Loan | LIBOR(Q) | Floor Rate 1.00% | Spread 8.00% | Total Coupon 11.83% | Maturity 4/6/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14] | 1% | |||||
Spread | [4],[5],[13],[14] | 8% | |||||
Total Coupon | [4],[5],[13],[14] | 11.83% | |||||
Maturity | [4],[5],[13],[14] | Apr. 06, 2027 | |||||
Principal | [4],[5],[13],[14] | $ 12,069,635 | |||||
Cost | [4],[5],[11],[13],[14] | 11,881,653 | |||||
Fair Value | [4],[5],[12],[13],[14] | $ 11,598,919 | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Pluralsight, Inc. | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 8.00% | Total Coupon 13.04% | Maturity 4/6/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 8% | |||||
Total Coupon | [2],[3],[9] | 13.04% | |||||
Maturity | [2],[3],[9] | Apr. 06, 2027 | |||||
Principal | [2],[3],[9] | $ 12,069,635 | |||||
Cost | [2],[3],[9],[10] | 11,899,910 | |||||
Fair Value | [1],[2],[3],[9] | $ 11,514,431 | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Quartz Holding Company (Quick Base) | Second Lien Term Loan | LIBOR(M) | Floor | Spread 8.00% | Total Coupon 12.38% | Maturity 4/2/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 0% | |||||
Spread | [4],[5],[13] | 8% | |||||
Total Coupon | [4],[5],[13] | 12.38% | |||||
Maturity | [4],[5],[13] | Apr. 02, 2027 | |||||
Principal | [4],[5],[13] | $ 5,512,958 | |||||
Cost | [4],[5],[11],[13] | 5,446,114 | |||||
Fair Value | [4],[5],[12],[13] | $ 5,358,595 | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Quartz Holding Company (Quick Base) | Second Lien Term Loan | SOFR(M) | Spread 8.00% | Total Coupon 13.20% | Maturity 4/2/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0% | |||||
Spread | [2],[3],[9] | 8% | |||||
Total Coupon | [2],[3],[9] | 13.20% | |||||
Maturity | [2],[3],[9] | Apr. 02, 2027 | |||||
Principal | [2],[3],[9] | $ 5,512,958 | |||||
Cost | [2],[3],[9],[10] | 5,454,805 | |||||
Fair Value | [1],[2],[3],[9] | $ 5,485,393 | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Reveal Data Corporation et al | First Lien FILO Term Loan | SOFR(S) | Floor Rate 1.00% | Spread 6.50% | Total Coupon 10.22% | Maturity 3/9/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 6.50% | |||||
Total Coupon | [2],[3],[9] | 10.22% | |||||
Maturity | [2],[3],[9] | Mar. 09, 2028 | |||||
Principal | [2],[3],[9] | $ 2,814,549 | |||||
Cost | [2],[3],[9],[10] | 2,758,537 | |||||
Fair Value | [1],[2],[3],[9] | $ 2,743,905 | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Reveal Data Corporation et al | First Lien FILO Term Loan | SOFR(S) | Floor Rate 1.00% | Spread 6.50% | Total Coupon 9.92% | Maturity 3/9/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5],[13] | 6.50% | |||||
Total Coupon | [4],[5],[13] | 9.92% | |||||
Maturity | [4],[5],[13] | Mar. 09, 2028 | |||||
Principal | [4],[5],[13] | $ 2,814,549 | |||||
Cost | [4],[5],[11],[13] | 2,752,981 | |||||
Fair Value | [4],[5],[12] | $ 2,721,951 | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Sailpoint Technologies Holdings, Inc. | First Lien Revolver | SOFR(M) | Floor Rate 0.75% | Spread 6.25% | Total Coupon 10.58% | Maturity 8/16/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14] | 0.75% | |||||
Spread | [4],[5],[13],[14] | 6.25% | |||||
Total Coupon | [4],[5],[13],[14] | 10.58% | |||||
Maturity | [4],[5],[13],[14] | Aug. 16, 2028 | |||||
Principal | [4],[5],[13],[14] | $ 0 | |||||
Cost | [4],[5],[11],[13],[14] | (6,262) | |||||
Fair Value | [4],[5],[12],[13],[14] | $ (9,712) | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Sailpoint Technologies Holdings, Inc. | First Lien Revolver | SOFR(M) | Floor Rate 0.75% | Spread 6.25% | TotalCoupon 11.35% | Maturity 8/16/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0.75% | |||||
Spread | [2],[3],[9] | 6.25% | |||||
Total Coupon | [2],[3],[9] | 11.35% | |||||
Maturity | [2],[3],[9] | Aug. 16, 2028 | |||||
Principal | [2],[3],[9] | $ 0 | |||||
Cost | [2],[3],[9],[10] | (5,710) | |||||
Fair Value | [1],[2],[3],[9] | $ (2,470) | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Sailpoint Technologies Holdings, Inc. | First Lien Term Loan | SOFR(M) | Floor Rate 0.75% | Spread 6.25% | Total Coupon 10.58% | Maturity 8/16/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 0.75% | |||||
Spread | [4],[5],[13] | 6.25% | |||||
Total Coupon | [4],[5],[13] | 10.58% | |||||
Maturity | [4],[5],[13] | Aug. 16, 2029 | |||||
Principal | [4],[5],[13] | $ 4,111,714 | |||||
Cost | [4],[5],[11],[13] | 4,031,739 | |||||
Fair Value | [4],[5],[12],[13] | $ 3,987,129 | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Sailpoint Technologies Holdings, Inc. | First Lien Term Loan | SOFR(M) | Floor Rate 0.75% | Spread 6.25% | Total Coupon 11.35% | Maturity 8/16/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0.75% | |||||
Spread | [2],[3],[9] | 6.25% | |||||
Total Coupon | [2],[3],[9] | 11.35% | |||||
Maturity | [2],[3],[9] | Aug. 16, 2029 | |||||
Principal | [2],[3],[9] | $ 4,111,714 | |||||
Cost | [2],[3],[9],[10] | 4,037,431 | |||||
Fair Value | [1],[2],[3],[9] | $ 4,085,810 | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Spartan Bidco Pty Ltd (StarRez) (Australia) | First Lien Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 0.75% cash + 6.25% PIK | Total Coupon 12.22% | Maturity 1/24/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0.75% | |||||
Interest Rate, PIK | [2],[3],[9] | 6.25% | |||||
Interest Rate, Cash | [2],[3],[9] | 0.75% | |||||
Total Coupon | [2],[3],[9] | 12.22% | |||||
Maturity | [2],[3],[9] | Jan. 24, 2028 | |||||
Principal | [2],[3],[9] | $ 3,967,055 | |||||
Cost | [2],[3],[9],[10] | 3,901,592 | |||||
Fair Value | [1],[2],[3],[9] | $ 3,895,648 | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Spartan Bidco Pty Ltd (StarRez) (Australia) | First Lien Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 0.75% cash + 6.50% PIK | Total Coupon 11.46% | Maturity 1/24/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[19],[22],[32] | 0.75% | |||||
Interest Rate, PIK | [4],[5],[13],[19],[22],[32] | 6.50% | |||||
Interest Rate, Cash | [4],[5],[13],[19],[22],[32] | 0.75% | |||||
Total Coupon | [4],[5],[13],[19],[22],[32] | 11.46% | |||||
Maturity | [4],[5],[13],[19],[22],[32] | Jan. 24, 2028 | |||||
Principal | [4],[5],[13],[19],[22],[32] | $ 3,845,195 | |||||
Cost | [4],[5],[11],[13],[19],[22],[32] | 3,774,506 | |||||
Fair Value | [4],[5],[12],[13],[19],[22],[32] | $ 3,736,760 | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Suited Connector, LLC | First Lien Delayed Draw Term Loan | LIBOR(S) | Floor Rate 1.00% | Spread 6.00% | Total Coupon 10.92% | Maturity 12/1/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14] | 1% | |||||
Spread | [4],[5],[13],[14] | 6% | |||||
Total Coupon | [4],[5],[13],[14] | 10.92% | |||||
Maturity | [4],[5],[13],[14] | Dec. 01, 2027 | |||||
Principal | [4],[5],[13],[14] | $ 0 | |||||
Cost | [4],[5],[11],[13],[14] | (2,185) | |||||
Fair Value | [4],[5],[12],[13],[14] | $ (67,500) | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Suited Connector, LLC | First Lien Revolver | LIBOR(S) | Floor Rate 1.00% | Spread 6.00% | Total Coupon 10.98% | Maturity 12/1/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5],[13] | 6% | |||||
Total Coupon | [4],[5],[13] | 10.98% | |||||
Maturity | [4],[5],[13] | Dec. 01, 2027 | |||||
Principal | [4],[5],[13] | $ 227,273 | |||||
Cost | [4],[5],[11],[13] | 223,453 | |||||
Fair Value | [4],[5],[12],[13] | $ 182,273 | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Suited Connector, LLC | First Lien Revolver | SOFR(S) | Floor Rate 1.00% | Spread 6.00% Cash + 2.00% PIK | Total Coupon 13.36% | Maturity 12/1/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Interest Rate, PIK | [2],[3],[9] | 2% | |||||
Interest Rate, Cash | [2],[3],[9] | 6% | |||||
Total Coupon | [2],[3],[9] | 13.36% | |||||
Maturity | [2],[3],[9] | Dec. 01, 2027 | |||||
Principal | [2],[3],[9] | $ 231,387 | |||||
Cost | [2],[3],[9],[10] | 227,846 | |||||
Fair Value | [1],[2],[3],[9] | $ 168,449 | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Suited Connector, LLC | First Lien Term Loan | LIBOR(S) | Floor Rate 1.00% | Spread 6.00% | Total Coupon 10.92% | Maturity 12/1/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5],[13] | 6% | |||||
Total Coupon | [4],[5],[13] | 10.92% | |||||
Maturity | [4],[5],[13] | Dec. 01, 2027 | |||||
Principal | [4],[5],[13] | $ 1,396,023 | |||||
Cost | [4],[5],[11],[13] | 1,371,786 | |||||
Fair Value | [4],[5],[12],[13] | $ 1,119,610 | |||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Suited Connector, LLC | First Lien Term Loan | SOFR(S) | Floor Rate 1.00% | Spread 6.00% cash + 2.00% PIK | Total Coupon 13.31% | Maturity 12/1/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Interest Rate, PIK | [2],[3],[9] | 2% | |||||
Interest Rate, Cash | [2],[3],[9] | 6% | |||||
Total Coupon | [2],[3],[9] | 13.31% | |||||
Maturity | [2],[3],[9] | Dec. 01, 2027 | |||||
Principal | [2],[3],[9] | $ 1,403,137 | |||||
Cost | [2],[3],[9],[10] | 1,380,555 | |||||
Fair Value | [1],[2],[3],[9],[17] | $ 1,021,483 | |||||
Investment, Identifier [Axis]: Debt Investments | Leisure Products | Peloton Interactive, Inc. | First Lien Term Loan | SOFR(S) | Floor Rate 0.50% | Spread 7.00% | Total Coupon 11.76% | Maturity 5/25/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[18],[24] | 0.50% | |||||
Spread | [4],[5],[13],[18],[24] | 7% | |||||
Total Coupon | [4],[5],[13],[18],[24] | 11.76% | |||||
Maturity | [4],[5],[13],[18],[24] | May 25, 2027 | |||||
Principal | [4],[5],[13],[18],[24] | $ 2,631,567 | |||||
Cost | [4],[5],[13],[18],[24] | 2,542,648 | |||||
Fair Value | [4],[5],[13],[18],[24] | 2,581,119 | |||||
Investment, Identifier [Axis]: Debt Investments | Leisure Products | Peloton Interactive, Inc. | First Lien Term Loan | SOFR(S) | Floor Rate 0.50% | Spread 7.00% | Total Coupon 12.26% | Maturity 5/25/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0.50% | |||||
Spread | [2],[3],[9] | 7% | |||||
Total Coupon | [2],[3],[9] | 12.26% | |||||
Maturity | [2],[3],[9] | May 25, 2027 | |||||
Principal | [2],[3],[9] | $ 2,618,343 | |||||
Cost | [2],[3],[9],[10] | 2,539,706 | |||||
Fair Value | [1],[2],[3],[9] | 2,605,251 | |||||
Investment, Identifier [Axis]: Debt Investments | Life Sciences Tools & Services | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | 2,103,924 | [2],[3],[9],[10] | 2,108,923 | [11] | |||
Fair Value | $ 2,164,614 | [1],[2],[3],[9] | $ 2,108,529 | [12] | |||
Investment, Identifier [Axis]: Debt Investments | Life Sciences Tools & Services | Alcami Corporation | First Lien Delayed Draw Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 11.42% | Maturity 12/21/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14] | 1% | |||||
Spread | [4],[5],[14] | 7% | |||||
Total Coupon | [4],[5],[14] | 11.42% | |||||
Maturity | [4],[5],[14] | Dec. 21, 2028 | |||||
Principal | [4],[5],[14] | $ 0 | |||||
Cost | [11],[14] | (6,392) | |||||
Fair Value | [12],[14] | $ (6,423) | |||||
Investment, Identifier [Axis]: Debt Investments | Life Sciences Tools & Services | Alcami Corporation | First Lien Revolver | SOFR(M) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 11.42% | Maturity 12/21/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14] | 1% | |||||
Spread | [4],[5],[14] | 7% | |||||
Total Coupon | [4],[5],[14] | 11.42% | |||||
Maturity | [4],[5],[14] | Dec. 21, 2028 | |||||
Principal | [4],[5],[14] | $ 0 | |||||
Cost | [11],[14] | (10,228) | |||||
Fair Value | [12],[14] | $ (10,277) | |||||
Investment, Identifier [Axis]: Debt Investments | Life Sciences Tools & Services | Alcami Corporation | First Lien Revolver | SOFR(M) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 12.20% | Maturity 12/21/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 7% | |||||
Total Coupon | [2],[3],[9] | 12.20% | |||||
Maturity | [2],[3],[9] | Dec. 21, 2028 | |||||
Principal | [2],[3],[9] | $ 0 | |||||
Cost | [2],[3],[9],[10] | (9,401) | |||||
Fair Value | [1],[2],[3],[9] | $ (2,936) | |||||
Investment, Identifier [Axis]: Debt Investments | Life Sciences Tools & Services | Alcami Corporation | First Lien Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 11.42% | Maturity 12/21/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [5],[13] | 1% | |||||
Spread | [5] | 7% | |||||
Total Coupon | [5] | 11.42% | |||||
Maturity | [5] | Dec. 21, 2028 | |||||
Principal | [5] | $ 2,202,309 | |||||
Cost | [5],[11] | 2,125,543 | |||||
Fair Value | [5],[12] | 2,125,229 | |||||
Investment, Identifier [Axis]: Debt Investments | Life Sciences Tools & Services | Alcami Corporation | First Lien Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 12.20% | Maturity12/21/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 7% | |||||
Total Coupon | [2],[3],[9] | 12.20% | |||||
Maturity | [2],[3],[9] | Dec. 21, 2028 | |||||
Principal | [2],[3],[9] | $ 2,191,298 | |||||
Cost | [2],[3],[9],[10] | 2,119,217 | |||||
Fair Value | [1],[2],[3],[9] | $ 2,169,385 | |||||
Investment, Identifier [Axis]: Debt Investments | Life Sciences Tools & Services| Alcami Corporation | First Lien Delayed Draw Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 12.20%| Maturity 12/21/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 7% | |||||
Total Coupon | [2],[3],[9] | 12.20% | |||||
Maturity | [2],[3],[9] | Dec. 21, 2028 | |||||
Principal | [2],[3],[9] | $ 0 | |||||
Cost | [2],[3],[9],[10] | (5,892) | |||||
Fair Value | [1],[2],[3],[9] | (1,835) | |||||
Investment, Identifier [Axis]: Debt Investments | Machinery | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | 6,060,048 | [2],[3],[9],[10] | 5,210,880 | [4],[5],[11] | |||
Fair Value | $ 6,072,276 | [1],[2],[3],[9] | $ 5,338,545 | [4],[5],[12] | |||
Investment, Identifier [Axis]: Debt Investments | Machinery Sonnys Enterprises, LLC | First Lien Delayed Draw Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 6.75% | Total Coupon 10.99% | Maturity 8/5/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5] | 6.75% | |||||
Total Coupon | [4],[5] | 10.99% | |||||
Maturity | [4],[5] | Aug. 05, 2026 | |||||
Principal | [4],[5] | $ 3,855,495 | |||||
Cost | [4],[5],[11] | 3,801,066 | |||||
Fair Value | [4],[5],[12] | $ 3,894,050 | |||||
Investment, Identifier [Axis]: Debt Investments | Machinery Sonnys Enterprises, LLC | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 6.75% | Total Coupon 10.99% | Maturity 8/5/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5] | 6.75% | |||||
Total Coupon | [4],[5] | 10.99% | |||||
Maturity | [4],[5] | Aug. 05, 2026 | |||||
Principal | [4],[5] | $ 1,430,193 | |||||
Cost | [4],[5],[11] | 1,409,814 | |||||
Fair Value | [4],[5],[12] | 1,444,495 | |||||
Investment, Identifier [Axis]: Debt Investments | Machinery | Sonnys Enterprises, LLC | First Lien Delayed Draw Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 6.75% | Total Coupon 11.96% | Maturity 8/5/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 6.75% | |||||
Total Coupon | [2],[3],[9] | 11.96% | |||||
Maturity | [2],[3],[9] | Aug. 05, 2028 | |||||
Principal | [2],[3],[9] | $ 0 | |||||
Cost | [2],[3],[9],[10] | (4,970) | |||||
Fair Value | [1],[2],[3],[9] | $ (3,886) | |||||
Investment, Identifier [Axis]: Debt Investments | Machinery | Sonnys Enterprises, LLC | First Lien Revolver | SOFR(Q) | Floor Rate 1.00% | Spread 6.75% | Total Coupon 11.96% | Maturity 8/5/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 6.75% | |||||
Total Coupon | [2],[3],[9] | 11.96% | |||||
Maturity | [2],[3],[9] | Aug. 05, 2027 | |||||
Principal | [2],[3],[9] | $ 0 | |||||
Cost | [2],[3],[9],[10] | (4,273) | |||||
Fair Value | [1],[2],[3],[9] | $ (3,368) | |||||
Investment, Identifier [Axis]: Debt Investments | Machinery | Sonnys Enterprises, LLC | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 6.75% | Total Coupon 11.96% | Maturity 8/5/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 6.75% | |||||
Total Coupon | [2],[3],[9] | 11.96% | |||||
Maturity | [2],[3],[9] | Aug. 05, 2028 | |||||
Principal | [2],[3],[9] | $ 6,197,278 | |||||
Cost | [2],[3],[9],[10] | 6,069,291 | |||||
Fair Value | [1],[2],[3],[9] | 6,079,530 | |||||
Investment, Identifier [Axis]: Debt Investments | Media | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | 7,490,430 | [2],[3],[9],[10] | 6,835,091 | [4],[5],[11] | |||
Fair Value | $ 6,515,746 | [1],[2],[3],[9] | $ 5,969,099 | [4],[5],[12] | |||
Investment, Identifier [Axis]: Debt Investments | Media | NEP Group, Inc. et al | First Lien Term Loan | SOFR(M) | Spread 3.75% | Total Coupon 8.47% | Maturity 10/20/2025 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0% | |||||
Spread | [2],[3],[9] | 3.25% | |||||
Total Coupon | [2],[3],[9] | 8.47% | |||||
Maturity | [2],[3],[9] | Oct. 20, 2025 | |||||
Principal | [2],[3],[9] | $ 658,609 | |||||
Cost | [2],[3],[9] | 607,272 | |||||
Fair Value | [2],[3],[9] | $ 589,949 | |||||
Investment, Identifier [Axis]: Debt Investments | Media | NEP Group, Inc. et al | Second Lien Term Loan | SOFR(M) | Spread 7.00% | Total Coupon 12.22% | Maturity 10/19/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0% | |||||
Spread | [2],[3],[9] | 7% | |||||
Total Coupon | [2],[3],[9] | 12.22% | |||||
Maturity | [2],[3],[9] | Oct. 19, 2026 | |||||
Principal | [2],[3],[9] | $ 3,131,760 | |||||
Cost | [2],[3],[9],[10] | 2,943,355 | |||||
Fair Value | [1],[2],[3],[9] | $ 2,248,353 | |||||
Investment, Identifier [Axis]: Debt Investments | Media | NEP II, Inc. | Second Lien Term Loan | LIBOR(M) | Spread 7.00% | Total Coupon 11.38% | Maturity 10/19/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[24] | 0% | |||||
Spread | [4],[5],[24] | 7% | |||||
Total Coupon | [4],[5],[24] | 11.38% | |||||
Maturity | [4],[5],[24] | Oct. 19, 2026 | |||||
Principal | [4],[5],[24] | $ 3,131,760 | |||||
Cost | [4],[5],[11],[24] | 2,921,510 | |||||
Fair Value | [4],[5],[12],[24] | $ 2,274,441 | |||||
Investment, Identifier [Axis]: Debt Investments | Media | Streamland Media Midco LLC | First Lien Delayed Draw Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 6.75% | Total Coupon 11.11% | Maturity 8/31/2023 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14] | 1% | |||||
Spread | [4],[5],[14] | 6.75% | |||||
Total Coupon | [4],[5],[14] | 11.11% | |||||
Maturity | [4],[5],[14] | Aug. 31, 2023 | |||||
Principal | [4],[5],[14] | $ 0 | |||||
Cost | [4],[5],[11],[14] | (1,460) | |||||
Fair Value | [4],[5],[12],[14] | $ (5,520) | |||||
Investment, Identifier [Axis]: Debt Investments | Media | Streamland Media Midco LLC | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 6.75% | Total Coupon 11.11% | Maturity 8/31/2023 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [13] | 1% | |||||
Spread | [4],[5] | 6.75% | |||||
Total Coupon | [4],[5] | 11.11% | |||||
Maturity | [4],[5] | Aug. 31, 2023 | |||||
Principal | [4],[5] | $ 379,050 | |||||
Cost | [4],[5],[11] | 374,456 | |||||
Fair Value | [4],[5],[12] | $ 361,614 | |||||
Investment, Identifier [Axis]: Debt Investments | Media | Streamland Media Midco LLC | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 6.75% | Total Coupon 12.06% | Maturity 8/31/2023 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 6.75% | |||||
Total Coupon | [2],[3],[9] | 12.06% | |||||
Maturity | [2],[3],[9] | Aug. 31, 2023 | |||||
Principal | [2],[3],[9] | $ 377,150 | |||||
Cost | [2],[3],[9],[10] | 376,011 | |||||
Fair Value | [1],[2],[3],[9] | $ 362,064 | |||||
Investment, Identifier [Axis]: Debt Investments | Media | Terraboost Media Operating Company, LLC | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 6.50% | Total Coupon 11.89 % | Maturity 8/23/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 6.50% | |||||
Total Coupon | [2],[3],[9] | 11.89% | |||||
Maturity | [2],[3],[9] | Aug. 23, 2026 | |||||
Principal | [2],[3],[9] | $ 3,615,463 | |||||
Cost | [2],[3],[9],[10] | 3,563,792 | |||||
Fair Value | [1],[2],[3],[9] | 3,315,380 | |||||
Investment, Identifier [Axis]: Debt Investments | Media | Terraboost Media Operating Company, LLC | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 6.50% | Total Coupon 8.14 % | Maturity 8/23/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5] | 6.50% | |||||
Total Coupon | [4],[5] | 8.14% | |||||
Maturity | [4],[5] | Aug. 23, 2026 | |||||
Principal | [4],[5] | $ 3,601,472 | |||||
Cost | [4],[5],[11] | 3,540,585 | |||||
Fair Value | [4],[5],[12] | $ 3,338,564 | |||||
Investment, Identifier [Axis]: Debt Investments | Metals & Mining | Kemmerer Operations, LLC (WMLP) | First Lien Term Loan | Fixed | Floor Rate 0.00% | Spread 15.00% PIK | Total Coupon 15.00 % | Maturity 6/21/2023 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14],[22],[32] | 0% | |||||
Interest Rate, PIK | [4],[5],[14],[22],[32] | 15% | |||||
Total Coupon | [4],[5],[14],[22],[32] | 15% | |||||
Maturity | [4],[5],[14],[22],[32] | Jun. 21, 2023 | |||||
Principal | [4],[5],[14],[22],[32] | $ 1,956,190 | |||||
Cost | [4],[5],[11],[14],[22],[32] | 1,956,190 | |||||
Fair Value | [4],[5],[12],[14],[22],[32] | 1,956,190 | |||||
Investment, Identifier [Axis]: Debt Investments | Paper & Forest Products | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | 13,373,951 | [2],[3],[9],[10] | 9,849,424 | [4],[5],[11] | |||
Fair Value | $ 13,251,641 | [1],[2],[3],[9] | $ 9,547,415 | [4],[5],[12] | |||
Investment, Identifier [Axis]: Debt Investments | Paper & Forest Products | Alpine Acquisition Corp II (48Forty) | First Lien Revolver | SOFR(M) | Floor Rate 1.00% | Spread 5.75% | Total Coupon 11.01% | Maturity 11/30/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 5.75% | |||||
Total Coupon | [2],[3],[9] | 11.01% | |||||
Maturity | [2],[3],[9] | Nov. 30, 2026 | |||||
Principal | [2],[3],[9] | $ 134,008 | |||||
Cost | [2],[3],[9],[10] | 119,338 | |||||
Fair Value | [1],[2],[3],[9] | $ 114,844 | |||||
Investment, Identifier [Axis]: Debt Investments | Paper & Forest Products | Alpine Acquisition Corp II (48Forty) | First Lien Revolver | SOFR(Q) | Floor Rate 1.00% | Spread 5.50% | Total Coupon 9.76 % | Maturity 11/30/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14] | 1% | |||||
Spread | [4],[5],[14] | 5.50% | |||||
Total Coupon | [4],[5],[14] | 9.76% | |||||
Maturity | [4],[5],[14] | Nov. 30, 2026 | |||||
Principal | [4],[5],[14] | $ 0 | |||||
Cost | [4],[5],[11],[14] | (16,709) | |||||
Fair Value | [4],[5],[12],[14] | $ (32,229) | |||||
Investment, Identifier [Axis]: Debt Investments | Paper & Forest Products | Alpine Acquisition Corp II (48Forty) | First Lien Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 5.75% | Total Coupon 11.01% | Maturity 11/30/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 5.75% | |||||
Total Coupon | [2],[3],[9] | 11.01% | |||||
Maturity | [2],[3],[9] | Nov. 30, 2026 | |||||
Principal | [2],[3],[9] | $ 10,013,136 | |||||
Cost | [2],[3],[9],[10] | 9,833,755 | |||||
Fair Value | [1],[2],[3],[9] | $ 9,726,761 | |||||
Investment, Identifier [Axis]: Debt Investments | Paper & Forest Products | Alpine Acquisition Corp II (48Forty) | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 5.50% | Total Coupon 9.76 % | Maturity 11/30/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5] | 5.50% | |||||
Total Coupon | [4],[5] | 9.76% | |||||
Maturity | [4],[5] | Nov. 30, 2026 | |||||
Principal | [4],[5] | $ 10,063,709 | |||||
Cost | [4],[5],[11] | 9,866,133 | |||||
Fair Value | [4],[5],[12] | 9,579,644 | |||||
Investment, Identifier [Axis]: Debt Investments | Paper & Forest Products | FSK Pallet Holding Corp. (Kamps) | First Lien Term Loan | SOFR(Q) | Floor Rate 1.25% | Spread 6.00% | Total Coupon 11.04% | Maturity 12/23/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1.25% | |||||
Spread | [2],[3],[9] | 6% | |||||
Total Coupon | [2],[3],[9] | 11.04% | |||||
Maturity | [2],[3],[9] | Dec. 23, 2026 | |||||
Principal | [2],[3],[9] | $ 3,516,226 | |||||
Cost | [2],[3],[9],[10] | 3,420,858 | |||||
Fair Value | [1],[2],[3],[9] | 3,410,036 | |||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | 41,818,917 | [2],[3],[9],[10] | 41,780,199 | [4],[5],[11] | |||
Fair Value | $ 41,119,851 | [1],[2],[3],[9] | $ 40,804,744 | [4],[5],[12] | |||
Investment, Identifier [Axis]: Debt Investments | Professional Services | DTI Holdco, Inc. (Epiq Systems, Inc.) | Second Lien Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 7.75% | Total Coupon 11.84% | Maturity 4/26/2030 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[24] | 0.75% | |||||
Spread | [4],[5],[24] | 7.75% | |||||
Total Coupon | [4],[5],[24] | 11.84% | |||||
Maturity | [4],[5],[24] | Apr. 26, 2030 | |||||
Principal | [4],[5],[24] | $ 5,007,465 | |||||
Cost | [4],[5],[11],[24] | 4,913,512 | |||||
Fair Value | [4],[5],[12],[24] | $ 4,586,000 | |||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | GI Consilio Parent, LLC | Second Lien Term Loan | LIBOR(M) | Floor Rate 0.50% | Spread 7.50% | Total Coupon 11.88% | Maturity 5/14/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 0.50% | |||||
Spread | [4],[5] | 7.50% | |||||
Total Coupon | [4],[5] | 11.88% | |||||
Maturity | [4],[5] | May 14, 2029 | |||||
Principal | [4],[5] | $ 5,000,000 | |||||
Cost | [4],[5],[11] | 4,959,969 | |||||
Fair Value | [4],[5],[12] | $ 4,795,000 | |||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | GI Consilio Parent, LLC | Second Lien Term Loan | LIBOR(M) | Floor Rate 0.50% | Spread 7.50% | Total Coupon 12.69% | Maturity 5/14/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0.50% | |||||
Spread | [2],[3],[9] | 7.50% | |||||
Total Coupon | [2],[3],[9] | 12.69% | |||||
Maturity | [2],[3],[9] | May 14, 2029 | |||||
Principal | [2],[3],[9] | $ 5,000,000 | |||||
Cost | [2],[3],[9],[10] | 4,966,445 | |||||
Fair Value | [1],[2],[3],[9] | $ 4,885,000 | |||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | ICIMS, Inc. | First Lien Delayed Draw Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 3.38% Cash + 3.88% PIK | Total Coupon 11.52% | Maturity 8/18/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14],[22] | 0.75% | |||||
Interest Rate, PIK | [4],[5],[14],[22] | 3.88% | |||||
Interest Rate, Cash | [4],[5],[14],[22] | 3.38% | |||||
Total Coupon | [4],[5],[14],[22] | 11.52% | |||||
Maturity | [4],[5],[14],[22] | Aug. 18, 2028 | |||||
Principal | [4],[5],[14],[22] | $ 0 | |||||
Cost | [4],[5],[11],[14],[22] | 0 | |||||
Fair Value | [4],[5],[12],[14],[22] | $ (111,339) | |||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | ICIMS, Inc. | First Lien Delayed Draw Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 3.38% Cash + 3.88% PIK | Total Coupon 12.38% | Maturity 8/18/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15],[17] | 0.75% | |||||
Interest Rate, PIK | [2],[3],[9],[15],[17] | 3.88% | |||||
Interest Rate, Cash | [2],[3],[9],[15],[17] | 3.38% | |||||
Total Coupon | [2],[3],[9],[15],[17] | 12.38% | |||||
Maturity | [2],[3],[9],[15],[17] | Aug. 18, 2028 | |||||
Principal | [2],[3],[9],[15],[17] | $ 221,336 | |||||
Cost | [2],[3],[9],[10],[15],[17] | 221,336 | |||||
Fair Value | [1],[2],[3],[9],[15],[17] | $ 200,772 | |||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | ICIMS, Inc. | First Lien Revolver | SOFR(Q) | Floor Rate 0.75% | Spread 6.75% | Total Coupon 11.02% | Maturity 8/18/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 0.75% | |||||
Spread | [4],[5] | 6.75% | |||||
Total Coupon | [4],[5] | 11.02% | |||||
Maturity | [4],[5] | Aug. 18, 2028 | |||||
Principal | [4],[5] | $ 0 | |||||
Cost | [4],[5],[11] | (17,307) | |||||
Fair Value | [4],[5],[12] | $ (39,921) | |||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | ICIMS, Inc. | First Lien Revolver | SOFR(Q) | Floor Rate 0.75% | Spread 6.75% | Total Coupon 11.99% | Maturity 8/18/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 0.75% | |||||
Spread | [2],[3],[9],[15] | 6.75% | |||||
Total Coupon | [2],[3],[9],[15] | 11.99% | |||||
Maturity | [2],[3],[9],[15] | Aug. 18, 2028 | |||||
Principal | [2],[3],[9],[15] | $ 175,907 | |||||
Cost | [2],[3],[9],[10],[15] | 160,122 | |||||
Fair Value | [1],[2],[3],[9],[15] | $ 168,534 | |||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | ICIMS, Inc. | First Lien Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 3.38% Cash + 3.88% PIK | Total Coupon 12.38% | Maturity 8/18/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[17] | 0.75% | |||||
Interest Rate, PIK | [2],[3],[9],[17] | 3.88% | |||||
Interest Rate, Cash | [2],[3],[9],[17] | 3.38% | |||||
Total Coupon | [2],[3],[9],[17] | 12.38% | |||||
Maturity | [2],[3],[9],[17] | Aug. 18, 2028 | |||||
Principal | [2],[3],[9],[17] | $ 11,060,029 | |||||
Cost | [2],[3],[9],[10],[17] | 10,889,671 | |||||
Fair Value | [1],[2],[3],[9],[17] | $ 10,982,609 | |||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | ICIMS, Inc. | First Lien Term Loan | SOFR(Q) | Floor Rate 0.75% |Spread 3.38% Cash + 3.88% PIK | Total Coupon 11.52% | Maturity 8/18/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[22] | 0.75% | |||||
Interest Rate, PIK | [4],[5],[22] | 3.88% | |||||
Interest Rate, Cash | [4],[5],[22] | 3.38% | |||||
Total Coupon | [4],[5],[22] | 11.52% | |||||
Maturity | [4],[5],[22] | Aug. 18, 2028 | |||||
Principal | [4],[5],[22] | $ 11,060,029 | |||||
Cost | [4],[5],[11],[22] | 10,873,218 | |||||
Fair Value | [4],[5],[12],[22] | $ 10,640,854 | |||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | JobandTalent USA, Inc. (United Kingdom) | First Lien Delayed Draw Term Loan (3.0% Exit Fee) | SOFR | Floor Rate 1.00% | Spread 8.75 % | Total Coupon 13.19% | Maturity 2/17/2025 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5] | 8.75% | |||||
Total Coupon | [4],[5] | 13.19% | |||||
Maturity | [4],[5] | Feb. 17, 2025 | |||||
Principal | [4],[5] | $ 5,300,000 | |||||
Cost | [4],[5],[11] | 5,234,978 | |||||
Fair Value | [4],[5],[12] | $ 5,172,800 | |||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | JobandTalent USA, Inc. (United Kingdom) | First Lien Delayed Draw Term Loan (3.0% Exit Fee) | SOFR(M) | Floor Rate 1.00% | Spread 8.75% | Total Coupon 13.96% | Maturity 2/17/2025 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[20],[21] | 1% | |||||
Spread | [2],[3],[9],[20],[21] | 8.75% | |||||
Total Coupon | [2],[3],[9],[20],[21] | 13.96% | |||||
Maturity | [2],[3],[9],[20],[21] | Feb. 17, 2025 | |||||
Principal | [2],[3],[9],[20],[21] | $ 5,300,000 | |||||
Cost | [2],[3],[9],[10],[20],[21] | 5,248,511 | |||||
Fair Value | [1],[2],[3],[9],[20],[21] | $ 5,194,000 | |||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | JobandTalent USA, Inc. (United Kingdom) | First Lien Term Loan (3.0% Exit Fee) | SOFR(M) | Floor Rate 1.00% | Spread 8.75 % | Total Coupon 13.19% | Maturity 2/17/2025 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5] | 8.75% | |||||
Total Coupon | [4],[5] | 13.19% | |||||
Maturity | [4],[5] | Feb. 17, 2025 | |||||
Principal | [4],[5] | $ 9,892,491 | |||||
Cost | [4],[5],[11] | 9,759,102 | |||||
Fair Value | [4],[5],[12] | $ 9,655,071 | |||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | JobandTalent USA, Inc. (United Kingdom) | First Lien Term Loan (3.0% Exit Fee) | SOFR(M) | Floor Rate 1.00% | Spread 8.75% | Total Coupon 13.96% | Maturity 2/17/2025 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[20],[21] | 1% | |||||
Spread | [2],[3],[9],[20],[21] | 8.75% | |||||
Total Coupon | [2],[3],[9],[20],[21] | 13.96% | |||||
Maturity | [2],[3],[9],[20],[21] | Feb. 17, 2025 | |||||
Principal | [2],[3],[9],[20],[21] | $ 9,892,491 | |||||
Cost | [2],[3],[9],[10],[20],[21] | 9,784,932 | |||||
Fair Value | [1],[2],[3],[9],[20],[21] | $ 9,694,641 | |||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | RigUp, Inc. | First Lien Delayed Draw Term Loan (4.0% Exit Fee) | LIBOR(M) | Floor Rate 1.50% | Spread 7.00% | Total Coupon 11.81% | Maturity 3/1/2024 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1.50% | |||||
Spread | [4],[5] | 7% | |||||
Total Coupon | [4],[5] | 11.81% | |||||
Maturity | [4],[5] | Mar. 01, 2024 | |||||
Principal | [4],[5] | $ 500,000 | |||||
Cost | [4],[5],[11] | 496,559 | |||||
Fair Value | [4],[5],[12] | $ 492,500 | |||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | TLE Holdings, LLC | First Lien Delayed Draw Term Loan | LIBOR(M) | Floor Rate 1.00% | Spread 5.50% | Total Coupon 9.88% | Maturity 6/28/2024 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5] | 5.50% | |||||
Total Coupon | [4],[5] | 9.88% | |||||
Maturity | [4],[5] | Jun. 28, 2024 | |||||
Principal | [4],[5] | $ 977,931 | |||||
Cost | [4],[5],[11] | 917,326 | |||||
Fair Value | [4],[5],[12] | $ 936,369 | |||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | TLE Holdings, LLC | First Lien Delayed Draw Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 5.50% | Total Coupon 10.70% | Maturity 6/28/2024 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 5.50% | |||||
Total Coupon | [2],[3],[9] | 10.70% | |||||
Maturity | [2],[3],[9] | Jun. 28, 2024 | |||||
Principal | [2],[3],[9] | $ 972,883 | |||||
Cost | [2],[3],[9],[10] | 930,304 | |||||
Fair Value | [1],[2],[3],[9] | $ 953,425 | |||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | TLE Holdings, LLC | First Lien Term Loan | LIBOR(M) | Floor Rate 1.00% | Spread 5.50% | Total Coupon 9.88% | Maturity 6/28/2024 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5] | 5.50% | |||||
Total Coupon | [4],[5] | 9.88% | |||||
Maturity | [4],[5] | Jun. 28, 2024 | |||||
Principal | [4],[5] | $ 3,820,368 | |||||
Cost | [4],[5],[11] | 3,583,613 | |||||
Fair Value | [4],[5],[12] | $ 3,658,003 | |||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | TLE Holdings, LLC | First Lien Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 5.50% | Total Coupon 10.70% | Maturity 6/28/2024 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 5.50% | |||||
Total Coupon | [2],[3],[9] | 10.70% | |||||
Maturity | [2],[3],[9] | Jun. 28, 2024 | |||||
Principal | [2],[3],[9] | $ 3,800,366 | |||||
Cost | [2],[3],[9],[10] | 3,634,043 | |||||
Fair Value | [1],[2],[3],[9] | $ 3,724,359 | |||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | VT TopCo, Inc. (Veritext) | Second Lien Term Loan | LIBOR(M) | Floor Rate 0.75% | Spread 6.75% | Total Coupon 11.13% | Maturity 8/4/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 0.75% | |||||
Spread | [4],[5] | 6.75% | |||||
Total Coupon | [4],[5] | 11.13% | |||||
Maturity | [4],[5] | Aug. 04, 2026 | |||||
Principal | [4],[5] | $ 1,064,655 | |||||
Cost | [4],[5],[11] | 1,059,229 | |||||
Fair Value | [4],[5],[12] | 1,019,407 | |||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | VT TopCo, Inc. (Veritext) | Second Lien Term Loan | SOFR(M) | Floor Rate 0.75% | Spread 6.75% | Total Coupon 11.97% | Maturity 8/4/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0.75% | |||||
Spread | [2],[3],[9] | 6.75% | |||||
Total Coupon | [2],[3],[9] | 11.97% | |||||
Maturity | [2],[3],[9] | Aug. 04, 2026 | |||||
Principal | [2],[3],[9] | $ 1,064,655 | |||||
Cost | [2],[3],[9],[10] | 1,060,238 | |||||
Fair Value | [1],[2],[3],[9] | $ 1,010,091 | |||||
Investment, Identifier [Axis]: Debt Investments | Professional Services| DTI Holdco, Inc. (Epiq Systems, Inc.) | Second Lien Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 7.75% | Total Coupon 12.80% | Maturity 04/26/2030 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[35] | 0.75% | |||||
Spread | [2],[3],[9] | 7.75% | |||||
Total Coupon | [2],[3],[9] | 12.80% | |||||
Maturity | [2],[3],[9] | Apr. 26, 2030 | |||||
Principal | [2],[3],[9] | $ 5,007,465 | |||||
Cost | [2],[3],[9],[10] | 4,923,315 | |||||
Fair Value | [1],[2],[3],[9] | 4,306,420 | |||||
Investment, Identifier [Axis]: Debt Investments | Real Estate Management & Development | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | 6,450,126 | [2],[3],[9],[10] | 6,464,268 | [4],[5],[11] | |||
Fair Value | $ 6,448,733 | [1],[2],[3],[9] | $ 6,300,500 | [4],[5],[12] | |||
Investment, Identifier [Axis]: Debt Investments | Real Estate Management & Development | Greystone Affordable Housing Initiatives, LLC | First Lien Delayed Draw Term Loan | LIBOR(S) | Floor Rate 1.25% | Spread 6.00% | Total Coupon 11.14% | Maturity 3/2/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[20] | 1.25% | |||||
Spread | [2],[3],[9],[20] | 6% | |||||
Total Coupon | [2],[3],[9],[20] | 11.14% | |||||
Maturity | [2],[3],[9],[20] | Mar. 02, 2026 | |||||
Principal | [2],[3],[9],[20] | $ 1,866,667 | |||||
Cost | [2],[3],[9],[10],[20] | 1,866,667 | |||||
Fair Value | [1],[2],[3],[9],[20] | $ 1,846,133 | |||||
Investment, Identifier [Axis]: Debt Investments | Real Estate Management & Development | Greystone Affordable Housing Initiatives, LLC | First Lien Delayed Draw Term Loan | LIBOR(S) | Floor Rate 1.25% | Spread 6.00% | Total Coupon 9.05% | Maturity 3/2/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1.25% | |||||
Spread | [4],[5] | 6% | |||||
Total Coupon | [4],[5] | 9.05% | |||||
Maturity | [4],[5] | Mar. 02, 2026 | |||||
Principal | [4],[5] | $ 1,866,667 | |||||
Cost | [4],[5],[11] | 1,866,667 | |||||
Fair Value | [4],[5],[12] | $ 1,844,267 | |||||
Investment, Identifier [Axis]: Debt Investments | Real Estate Management & Development | Greystone Select Company II, LLC (Passco) | First Lien Delayed Draw Term Loan | SOFR(M) | Floor Rate 1.50% | Spread 6.50% | Total Coupon 10.94% | Maturity 3/21/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1.50% | |||||
Spread | [4],[5] | 6.50% | |||||
Total Coupon | [4],[5] | 10.94% | |||||
Maturity | [4],[5] | Mar. 21, 2027 | |||||
Principal | [4],[5] | $ 0 | |||||
Cost | [4],[5],[11] | 20,817 | |||||
Fair Value | [4],[5],[12] | $ (121,195) | |||||
Investment, Identifier [Axis]: Debt Investments | Real Estate Management & Development | Greystone Select Company II, LLC (Passco) | First Lien Term Loan | SOFR(M) | Floor Rate 1.50% | Spread 6.50% | Total Coupon 10.94% | Maturity 3/21/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1.50% | |||||
Spread | [4],[5] | 6.50% | |||||
Total Coupon | [4],[5] | 10.94% | |||||
Maturity | [4],[5] | Mar. 21, 2027 | |||||
Principal | [4],[5] | $ 4,661,332 | |||||
Cost | [4],[5],[11] | 4,576,784 | |||||
Fair Value | [4],[5],[12] | $ 4,577,428 | |||||
Investment, Identifier [Axis]: Debt Investments | Real Estate Management & Development | Greystone Select Company II, LLC (Passco) | First Lien Term Loan | SOFR(M) | Floor Rate 1.50% | Spread 6.50% | Total Coupon 11.72% | Maturity 3/21/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1.50% | |||||
Spread | [2],[3],[9] | 6.50% | |||||
Total Coupon | [2],[3],[9] | 11.72% | |||||
Maturity | [2],[3],[9] | Mar. 21, 2027 | |||||
Principal | [2],[3],[9] | $ 4,661,332 | |||||
Cost | [2],[3],[9],[10] | 4,583,459 | |||||
Fair Value | [1],[2],[3],[9] | $ 4,602,600 | |||||
Investment, Identifier [Axis]: Debt Investments | Road & Rail | Motive Technologies, Inc. (fka Keep Truckin, Inc.) | First Lien Term Loan | SOFR(S) | Floor Rate 1.00% | Spread 7.25% | Total Coupon 11.03% | Maturity 4/8/2025 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5] | 7.25% | |||||
Total Coupon | [4],[5] | 11.03% | |||||
Maturity | [4],[5] | Apr. 08, 2025 | |||||
Principal | [4],[5] | $ 15,000,000 | |||||
Cost | [4],[5],[11] | 14,848,983 | |||||
Fair Value | [4],[5],[12] | 14,895,000 | |||||
Investment, Identifier [Axis]: Debt Investments | Road & Rail | Motive Technologies, Inc. (fka Keep Truckin, Inc.) | First Lien Term Loan | SOFR(S) | Floor Rate 1.00% | Spread 7.25% | Total Coupon 12.77% | Maturity 4/8/2025 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 7.25% | |||||
Total Coupon | [2],[3],[9] | 12.77% | |||||
Maturity | [2],[3],[9] | Apr. 08, 2025 | |||||
Principal | [2],[3],[9] | $ 15,000,000 | |||||
Cost | [2],[3],[9],[10] | 14,876,102 | |||||
Fair Value | [1],[2],[3],[9] | 14,850,000 | |||||
Investment, Identifier [Axis]: Debt Investments | Semiconductors & Semiconductor Equipment | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | 2,193,331 | [2],[3],[9],[10] | 2,115,579 | [4],[5],[11] | |||
Fair Value | $ 2,146,398 | [1],[2],[3],[9] | $ 2,053,600 | [4],[5],[12] | |||
Investment, Identifier [Axis]: Debt Investments | Semiconductors & Semiconductor Equipment | Emerald Technologies (U.S.) AcquisitionCo, Inc | First Lien Revolver | SOFR(M) | Floor Rate 1.00% | Spread 6.00% | Total Coupon 10.42% | Maturity 12/29/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5] | 6% | |||||
Total Coupon | [4],[5] | 10.42% | |||||
Maturity | [4],[5] | Dec. 29, 2026 | |||||
Principal | [4],[5] | $ 330,137 | |||||
Cost | [4],[5],[11] | 249,986 | |||||
Fair Value | [4],[5],[12] | $ 268,505 | |||||
Investment, Identifier [Axis]: Debt Investments | Semiconductors & Semiconductor Equipment | Emerald Technologies (U.S.) AcquisitionCo, Inc | First Lien Revolver | SOFR(M) | Floor Rate 1.00% | Spread 6.00% | Total Coupon 11.22% | Maturity 12/29/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 1% | |||||
Spread | [2],[3],[9],[15] | 6% | |||||
Total Coupon | [2],[3],[9],[15] | 11.22% | |||||
Maturity | [2],[3],[9],[15] | Dec. 29, 2026 | |||||
Principal | [2],[3],[9],[15] | $ 420,175 | |||||
Cost | [2],[3],[9],[10],[15] | 349,434 | |||||
Fair Value | [1],[2],[3],[9],[15] | $ 365,295 | |||||
Investment, Identifier [Axis]: Debt Investments | Semiconductors & Semiconductor Equipment | Emerald Technologies (U.S.) AcquisitionCo, Inc | First Lien Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 6.25% | Total Coupon 10.67% | Maturity 12/29/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5] | 6.25% | |||||
Total Coupon | [4],[5] | 10.67% | |||||
Maturity | [4],[5] | Dec. 29, 2027 | |||||
Principal | [4],[5] | $ 1,899,037 | |||||
Cost | [4],[5],[11] | 1,865,593 | |||||
Fair Value | [4],[5],[12] | 1,785,095 | |||||
Investment, Identifier [Axis]: Debt Investments | Semiconductors & Semiconductor Equipment | Emerald Technologies (U.S.) AcquisitionCo, Inc | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 6.25% | Total Coupon 11.66% | Maturity 12/29/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[23] | 1% | |||||
Spread | [2],[3],[9],[23] | 6.25% | |||||
Total Coupon | [2],[3],[9],[23] | 11.66% | |||||
Maturity | [2],[3],[9],[23] | Dec. 29, 2027 | |||||
Principal | [2],[3],[9],[23] | $ 1,874,846 | |||||
Cost | [2],[3],[9],[10],[23] | 1,843,897 | |||||
Fair Value | [1],[2],[3],[9],[23] | 1,781,103 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | 102,902,671 | [2],[3],[9],[10] | 87,306,974 | [4],[5],[11],[13] | |||
Fair Value | $ 102,686,951 | [1],[2],[3],[9] | $ 86,430,992 | [4],[5],[12],[13] | |||
Investment, Identifier [Axis]: Debt Investments | Software Disco Parent, Inc. (Duck Creek Technologies) | First Lien Revolver | SOFR(Q) | Floor Rate 1.00% | Spread 7.50% | Total Coupon 12.76% | Maturity 3/30/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 1% | |||||
Spread | [2],[3],[9],[15] | 7.50% | |||||
Total Coupon | [2],[3],[9],[15] | 12.76% | |||||
Maturity | [2],[3],[9],[15] | Mar. 30, 2029 | |||||
Principal | [2],[3],[9],[20],[21] | $ 0 | |||||
Cost | [2],[3],[9],[10],[15] | (12,307) | |||||
Fair Value | [1],[2],[3],[9],[15] | $ (8,210) | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Aerospike, Inc. | First Lien Delayed Draw Term Loan (0.50% Exit Fee) | SOFR(M) | Floor Rate 1.00% | Spread 7.50% | Total Coupon 12.72% | Maturity 12/29/2025 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 1% | |||||
Spread | [2],[3],[9],[15] | 7.50% | |||||
Total Coupon | [2],[3],[9],[15] | 12.75% | |||||
Maturity | [2],[3],[9],[15] | Dec. 29, 2025 | |||||
Principal | [2],[3],[9],[15] | $ 1,054,373 | |||||
Cost | [2],[3],[9],[10],[15] | 1,031,415 | |||||
Fair Value | [1],[2],[3],[9],[15] | $ 1,040,367 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Aerospike, Inc. | First Lien Term Loan (0.50% Exit Fee) | SOFR(M) | Floor Rate 1.00% | Spread 7.50% | Total Coupon 12.72% | Maturity 12/29/2025 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 7.50% | |||||
Total Coupon | [2],[3],[9] | 12.72% | |||||
Maturity | [2],[3],[9] | Dec. 29, 2025 | |||||
Principal | [2],[3],[9] | $ 2,416,867 | |||||
Cost | [2],[3],[9],[10] | 2,401,989 | |||||
Fair Value | [1],[2],[3],[9] | $ 2,384,723 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Aerospike, Inc. | First Lien Term Loan | LIBOR(M) | Floor Rate 1.00% | Spread 7.50% | Total Coupon 11.88% | Maturity 12/29/2025 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5] | 7.50% | |||||
Total Coupon | [4],[5] | 11.88% | |||||
Maturity | [4],[5] | Dec. 29, 2025 | |||||
Principal | [4],[5] | $ 2,416,867 | |||||
Cost | [4],[5],[11] | 2,397,971 | |||||
Fair Value | [4],[5],[12] | $ 2,375,297 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | AlphaSense, Inc | First Lien Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 11.44% | Maturity 3/11/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5] | 7% | |||||
Total Coupon | [4],[5] | 11.44% | |||||
Maturity | [4],[5] | Mar. 11, 2027 | |||||
Principal | [4],[5] | $ 8,673,018 | |||||
Cost | [4],[5],[11] | 8,592,729 | |||||
Fair Value | [4],[5],[12] | $ 8,594,961 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | AlphaSense, Inc. | First Lien Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 12.19% | Maturity 3/11/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 7% | |||||
Total Coupon | [2],[3],[9] | 12.19% | |||||
Maturity | [2],[3],[9] | Mar. 11, 2027 | |||||
Principal | [2],[3],[9] | $ 8,673,018 | |||||
Cost | [2],[3],[9],[10] | 8,604,138 | |||||
Fair Value | [1],[2],[3],[9] | $ 8,666,947 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Aras Corporation | First Lien Revolver | LIBOR(Q)/(S) | Floor Rate 1.00% | Spread 6.50 | Total Coupon 11.66 % | Maturity 4/13/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 6.50% | |||||
Total Coupon | [2],[3],[9] | 11.66% | |||||
Maturity | [2],[3],[9] | Apr. 13, 2027 | |||||
Principal | [2],[3],[9] | $ 204,763 | |||||
Cost | [2],[3],[9],[10] | 200,854 | |||||
Fair Value | [1],[2],[3],[9] | $ 194,627 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Aras Corporation | First Lien Term Loan | LIBOR(Q) | Floor Rate 1.00% | Spread 3.50% Cash + 3.25% PIK | Total Coupon 11.99% | Maturity 4/13/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[17] | 1% | |||||
Interest Rate, PIK | [2],[3],[9],[17] | 3.25% | |||||
Interest Rate, Cash | [2],[3],[9],[17] | 3.50% | |||||
Total Coupon | [2],[3],[9],[17] | 11.99% | |||||
Maturity | [2],[3],[9],[17] | Apr. 13, 2027 | |||||
Principal | [2],[3],[9],[17] | $ 4,527,228 | |||||
Cost | [2],[3],[9],[10],[17] | 4,474,770 | |||||
Fair Value | [1],[2],[3],[9],[17] | $ 4,377,829 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Aras Corporation | First Lien Term Loan | LIBOR(Q) |Floor Rate 1.00% | Spread 3.25% Cash + 3.75% PIK | Total Coupon 10.94% | Maturity 4/13/2022 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Interest Rate, PIK | [4],[5] | 3.75% | |||||
Interest Rate, Cash | [4],[5] | 3.25% | |||||
Total Coupon | [4],[5] | 10.94% | |||||
Maturity | [4],[5] | Apr. 13, 2027 | |||||
Principal | [4],[5] | $ 4,442,604 | |||||
Cost | [4],[5],[11] | 4,383,120 | |||||
Fair Value | [4],[5],[12] | $ 4,273,786 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Aras Corporation |First Lien Revolver | LIBOR(S) | Floor Rate 1.00% | Spread 6.50% | Total Coupon 9.50% | Maturity 4/13/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5] | 6.50% | |||||
Total Coupon | [4],[5] | 9.50% | |||||
Maturity | [4],[5] | Apr. 13, 2027 | |||||
Principal | [4],[5] | $ 102,381 | |||||
Cost | [4],[5],[11] | 97,919 | |||||
Fair Value | [4],[5],[12] | $ 90,710 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Backoffice Associates Holdings, LLC (Syniti) | First Lien Revolver | PRIME | Floor Rate 1.00% | Spread 6.75 | Total Coupon 15.00% | Maturity 4/30/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 1% | |||||
Spread | [2],[3],[9],[15] | 6.75% | |||||
Total Coupon | [2],[3],[9],[15] | 15% | |||||
Maturity | [2],[3],[9],[15] | Apr. 30, 2026 | |||||
Principal | [2],[3],[9],[15] | $ 657,055 | |||||
Cost | [2],[3],[9],[10],[15] | 645,168 | |||||
Fair Value | [1],[2],[3],[9],[15] | $ 657,055 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Backoffice Associates Holdings, LLC (Syniti) | First Lien Revolver | PRIME | Floor Rate 1.00% | Spread 6.75% | Total Coupon 14.25% | Maturity 4/30/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5] | 6.75% | |||||
Total Coupon | [4],[5] | 14.25% | |||||
Maturity | [4],[5] | Apr. 30, 2026 | |||||
Principal | [4],[5] | $ 519,073 | |||||
Cost | [4],[5],[11] | 505,266 | |||||
Fair Value | [4],[5],[12] | $ 501,333 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Backoffice Associates Holdings, LLC (Syniti) | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 7.75% | Total Coupon 12.00% | Maturity 4/30/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5] | 7.75% | |||||
Total Coupon | [4],[5] | 12% | |||||
Maturity | [4],[5] | Apr. 30, 2026 | |||||
Principal | [4],[5] | $ 4,949,797 | |||||
Cost | [4],[5],[11] | 4,845,184 | |||||
Fair Value | [4],[5],[12] | $ 4,816,153 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Backoffice Associates Holdings, LLC (Syniti) | First Lien Term Loan | SOFR(S) | Floor Rate 1.00% | Spread 7.75 | Total Coupon 13.03% | Maturity 4/30/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 7.75% | |||||
Total Coupon | [2],[3],[9] | 13.03% | |||||
Maturity | [2],[3],[9] | Apr. 30, 2026 | |||||
Principal | [2],[3],[9] | $ 4,886,506 | |||||
Cost | [2],[3],[9],[10] | 4,799,191 | |||||
Fair Value | [1],[2],[3],[9] | $ 4,896,278 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Bluefin Holding, LLC (BlackMountain) | Second Lien Term Loan | LIBOR(Q) | Spread 7.75 | Total Coupon 13.23% | Maturity 9/3/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0% | |||||
Spread | [2],[3],[9] | 7.75% | |||||
Total Coupon | [2],[3],[9] | 13.23% | |||||
Maturity | [2],[3],[9] | Sep. 03, 2027 | |||||
Principal | [2],[3],[9] | $ 4,809,535 | |||||
Cost | [2],[3],[9],[10] | 4,766,503 | |||||
Fair Value | [1],[2],[3],[9] | $ 4,674,868 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Bluefin Holding, LLC (BlackMountain) | Second Lien Term Loan | LIBOR(Q) | Spread 7.75% | Total Coupon 12.48% | Maturity 9/3/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 0% | |||||
Spread | [4],[5] | 7.75% | |||||
Total Coupon | [4],[5] | 12.48% | |||||
Maturity | [4],[5] | Sep. 03, 2027 | |||||
Principal | [4],[5] | $ 4,809,535 | |||||
Cost | [4],[5],[11] | 4,762,954 | |||||
Fair Value | [4],[5],[12] | $ 4,756,630 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Bonterra LLC (fka CyberGrants Holdings, LLC) | First Lien Delayed Draw Term Loan | LIBOR(Q) | Floor Rate 0.75% | Spread 6.00% | Total Coupon 11.79% | Maturity 9/8/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 0.75% | |||||
Spread | [2],[3],[9],[15] | 6% | |||||
Total Coupon | [2],[3],[9],[15] | 11.79% | |||||
Maturity | [2],[3],[9],[15] | Sep. 08, 2027 | |||||
Principal | [2],[3],[9],[15] | $ 81,168 | |||||
Cost | [2],[3],[9],[10],[15] | 80,014 | |||||
Fair Value | [1],[2],[3],[9],[15] | $ 73,362 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Bonterra LLC (fka CyberGrants Holdings, LLC) | First Lien Delayed Draw Term Loan | LIBOR(Q) | Floor Rate 0.75% | Spread 6.25% | Total Coupon 10.98% | Maturity 9/8/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 0.75% | |||||
Spread | [4],[5] | 6.25% | |||||
Total Coupon | [4],[5] | 10.98% | |||||
Maturity | [4],[5] | Sep. 08, 2027 | |||||
Principal | [4],[5] | $ 54,686 | |||||
Cost | [4],[5],[11] | 53,168 | |||||
Fair Value | [4],[5],[12] | $ 46,158 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Bonterra LLC (fka CyberGrants Holdings, LLC) | First Lien Revolver | LIBOR(Q) | Floor Rate 0.75% | Spread 6.00% | Total Coupon 11.72% | Maturity 9/8/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 0.75% | |||||
Spread | [2],[3],[9],[15] | 6% | |||||
Total Coupon | [2],[3],[9],[15] | 11.72% | |||||
Maturity | [2],[3],[9],[15] | Sep. 08, 2027 | |||||
Principal | [2],[3],[9],[15] | $ 273,311 | |||||
Cost | [2],[3],[9],[10],[15] | 270,289 | |||||
Fair Value | [1],[2],[3],[9],[15] | $ 265,505 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Bonterra LLC (fka CyberGrants Holdings, LLC) | First Lien Revolver | LIBOR(Q) | Floor Rate 0.75% | Spread 6.25% | Total Coupon 10.98% | Maturity 9/8/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 0.75% | |||||
Spread | [4],[5] | 6.25% | |||||
Total Coupon | [4],[5] | 10.98% | |||||
Maturity | [4],[5] | Sep. 08, 2027 | |||||
Principal | [4],[5] | $ 103,311 | |||||
Cost | [4],[5],[11] | 100,015 | |||||
Fair Value | [4],[5],[12] | $ 94,783 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Bonterra LLC (fka CyberGrants Holdings, LLC) | First Lien Term Loan | LIBOR(Q) | Floor 0.75% | Spread 6.00% | Total Coupon 11.79% | Maturity 9/8/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0.75% | |||||
Spread | [2],[3],[9] | 6% | |||||
Total Coupon | [2],[3],[9] | 11.79% | |||||
Maturity | [2],[3],[9] | Sep. 08, 2027 | |||||
Principal | [2],[3],[9] | $ 2,833,333 | |||||
Cost | [2],[3],[9],[10] | 2,801,462 | |||||
Fair Value | [1],[2],[3],[9] | $ 2,753,717 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Bonterra LLC (fka CyberGrants Holdings, LLC) | First Lien Term Loan | LIBOR(Q) | Floor Rate 0.75% | Spread 6.25% | Total Coupon 10.98% | Maturity 9/8/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 0.75% | |||||
Spread | [4],[5] | 6.25% | |||||
Total Coupon | [4],[5] | 10.98% | |||||
Maturity | [4],[5] | Sep. 08, 2027 | |||||
Principal | [4],[5] | $ 2,833,333 | |||||
Cost | [4],[5],[11] | 2,798,816 | |||||
Fair Value | [4],[5],[12] | $ 2,746,350 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Disco Parent, Inc. (Duck Creek Technologies) | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 7.50% | Total Coupon 12.76% | Maturity 3/30/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 7.50% | |||||
Total Coupon | [2],[3],[9] | 12.76% | |||||
Maturity | [2],[3],[9] | Mar. 30, 2029 | |||||
Principal | [2],[3],[9] | $ 5,131,318 | |||||
Cost | [2],[3],[9],[10] | 5,005,624 | |||||
Fair Value | [1],[2],[3],[9] | $ 5,049,217 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Elastic Path Software Inc. (Canada) | First Lien Delayed Draw Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 7.50% | Total Coupon 12.12% | Maturity 1/6/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[18],[19] | 1% | |||||
Spread | [4],[5],[13],[18],[19] | 7.50% | |||||
Total Coupon | [4],[5],[13],[18],[19] | 12.12% | |||||
Maturity | [4],[5],[13],[18],[19] | Jan. 06, 2026 | |||||
Principal | [4],[5],[13],[18],[19] | $ 961,395 | |||||
Cost | [4],[5],[11],[13],[18],[19] | 952,144 | |||||
Fair Value | [4],[5],[12],[13],[18],[19] | $ 951,973 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Elastic Path Software Inc. (Canada) | First Lien Delayed Draw Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 7.50% | Total Coupon 12.99% | Maturity 1/6/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[20],[21] | 1% | |||||
Spread | [2],[3],[9],[20],[21] | 7.50% | |||||
Total Coupon | [2],[3],[9],[20],[21] | 12.99% | |||||
Maturity | [2],[3],[9],[20],[21] | Jan. 06, 2026 | |||||
Principal | [2],[3],[9],[20],[21] | $ 961,395 | |||||
Cost | [2],[3],[9],[10],[20],[21] | 953,620 | |||||
Fair Value | [1],[2],[3],[9],[20],[21] | $ 958,511 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Elastic Path Software Inc. (Canada) | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 7.50% | Total Coupon 11.33% | Maturity 1/6/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5] | 7.50% | |||||
Total Coupon | [4],[5] | 11.37% | |||||
Maturity | [4],[5] | Jan. 06, 2026 | |||||
Principal | [4],[5] | $ 1,893,754 | |||||
Cost | [4],[5],[11] | 1,878,821 | |||||
Fair Value | [4],[5],[12] | $ 1,875,195 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Elastic Path Software Inc. (Canada) | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 7.50% | Total Coupon 12.70% | Maturity 1/6/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[20],[21] | 1% | |||||
Spread | [2],[3],[9],[20],[21] | 7.50% | |||||
Total Coupon | [2],[3],[9],[20],[21] | 12.70% | |||||
Maturity | [2],[3],[9],[20],[21] | Jan. 06, 2026 | |||||
Principal | [2],[3],[9],[20],[21] | $ 1,893,754 | |||||
Cost | [2],[3],[9],[10],[20],[21] | 1,881,974 | |||||
Fair Value | [1],[2],[3],[9],[20],[21] | $ 1,888,072 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Fusion Risk Management, Inc. | First Lien Revolver | SOFR(Q) | Floor Rate 1.00% | Spread 6.50% | Total Coupon 10.90% | Maturity 8/30/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14] | 1% | |||||
Spread | [4],[5],[13],[14] | 6.50% | |||||
Total Coupon | [4],[5],[13],[14] | 10.90% | |||||
Maturity | [4],[5],[13],[14] | Aug. 30, 2028 | |||||
Principal | [4],[5],[13],[14] | $ 0 | |||||
Cost | [4],[5],[11],[13],[14] | (762) | |||||
Fair Value | [4],[5],[12],[13],[14] | $ (1,220) | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Fusion Risk Management, Inc. | First Lien Revolver | SOFR(Q) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 12.13% | Maturity 5/22/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 1% | |||||
Spread | [2],[3],[9],[15] | 7% | |||||
Total Coupon | [2],[3],[9],[15] | 12.13% | |||||
Maturity | [2],[3],[9],[15] | May 22, 2029 | |||||
Principal | [2],[3],[9],[15] | $ 0 | |||||
Cost | [2],[3],[9],[10],[15] | (10,533) | |||||
Fair Value | [1],[2],[3],[9],[15] | $ (10,179) | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Fusion Risk Management, Inc. | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 3.25% Cash + 3.75% PIK | Total Coupon 11.40% | Maturity 8/30/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[22] | 1% | |||||
Interest Rate, PIK | [4],[5],[13],[22] | 3.75% | |||||
Interest Rate, Cash | [4],[5],[13],[22] | 3.25% | |||||
Total Coupon | [4],[5],[13],[22] | 11.40% | |||||
Maturity | [4],[5],[13],[22] | Aug. 30, 2028 | |||||
Principal | [4],[5],[13],[22] | $ 362,133 | |||||
Cost | [4],[5],[11],[13],[22] | 354,405 | |||||
Fair Value | [4],[5],[12],[13],[22] | $ 349,821 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Fusion Risk Management, Inc. | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 3.50% Cash + 4.00% PIK | Total Coupon 12.63% | Maturity 5/22/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[17] | 1% | |||||
Interest Rate, PIK | [2],[3],[9],[17] | 4% | |||||
Interest Rate, Cash | [2],[3],[9],[17] | 3.50% | |||||
Total Coupon | [2],[3],[9],[17] | 12.63% | |||||
Maturity | [2],[3],[9],[17] | May 22, 2029 | |||||
Principal | [2],[3],[9],[17] | $ 4,464,286 | |||||
Cost | [2],[3],[9],[10],[17] | 4,375,654 | |||||
Fair Value | [1],[2],[3],[9],[17] | $ 4,379,464 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | GTY Technology Holdings Inc. | First Lien Delayed Draw Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 2.58% Cash + 4.30% PIK | Total Coupon 11.40% | Maturity 7/9/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[22] | 0.75% | |||||
Interest Rate, PIK | [4],[5],[13],[22] | 4.30% | |||||
Interest Rate, Cash | [4],[5],[13],[22] | 2.58% | |||||
Total Coupon | [4],[5],[13],[22] | 11.40% | |||||
Maturity | [4],[5],[13],[22] | Jul. 09, 2029 | |||||
Principal | [4],[5],[13],[22] | $ 1,513,252 | |||||
Cost | [4],[5],[11],[13],[22] | 1,484,207 | |||||
Fair Value | [4],[5],[12],[13],[22] | $ 1,464,827 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | GTY Technology Holdings Inc. | First Lien Revolver | SOFR(Q) | Floor Rate 0.75% | Spread 6.25% | Total Coupon 10.83% | Maturity 7/9/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14] | 0.75% | |||||
Spread | [4],[5],[13],[14] | 6.25% | |||||
Total Coupon | [4],[5],[13],[14] | 10.83% | |||||
Maturity | [4],[5],[13],[14] | Jul. 09, 2029 | |||||
Principal | [4],[5],[13],[14] | $ 0 | |||||
Cost | [4],[5],[11],[13],[14] | (6,532) | |||||
Fair Value | [4],[5],[12],[13],[14] | $ (11,160) | |||||
Investment, Identifier [Axis]: Debt Investments | Software | GTY Technology Holdings Inc. | First Lien Revolver | SOFR(Q) | Floor Rate 0.75% | Spread 6.25% | Total Coupon 11.47% | Maturity 7/9/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 0.75% | |||||
Spread | [2],[3],[9],[15] | 6.25% | |||||
Total Coupon | [2],[3],[9],[15] | 11.47% | |||||
Maturity | [2],[3],[9],[15] | Jul. 09, 2029 | |||||
Principal | [2],[3],[9],[15] | $ 0 | |||||
Cost | [2],[3],[9],[10],[15] | (6,037) | |||||
Fair Value | [1],[2],[3],[9],[15] | $ (2,337) | |||||
Investment, Identifier [Axis]: Debt Investments | Software | GTY Technology Holdings Inc. | First Lien Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 2.58% Cash + 4.30% PIK | Total Coupon 11.46% | Maturity 7/9/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[22] | 0.75% | |||||
Interest Rate, PIK | [4],[5],[13],[22] | 4.30% | |||||
Interest Rate, Cash | [4],[5],[13],[22] | 2.58% | |||||
Total Coupon | [4],[5],[13],[22] | 11.46% | |||||
Maturity | [4],[5],[13],[22] | Jul. 09, 2029 | |||||
Principal | [4],[5],[13],[22] | $ 1,958,707 | |||||
Cost | [4],[5],[11],[13],[22] | 1,922,412 | |||||
Fair Value | [4],[5],[12],[13],[22] | $ 1,896,028 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | GTY Technology Holdings Inc. | First Lien Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 2.58% Cash + 4.30% PIK | Total Coupon 12.12% | Maturity 7/9/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[17] | 0.75% | |||||
Interest Rate, PIK | [2],[3],[9],[17] | 4.30% | |||||
Interest Rate, Cash | [2],[3],[9],[17] | 2.58% | |||||
Total Coupon | [2],[3],[9],[17] | 12.12% | |||||
Maturity | [2],[3],[9],[17] | Jul. 09, 2029 | |||||
Principal | [2],[3],[9],[17] | $ 2,001,487 | |||||
Cost | [2],[3],[9],[10],[17] | 1,968,068 | |||||
Fair Value | [1],[2],[3],[9],[17] | $ 1,988,077 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | GTY Technology Holdings Inc.| First Lien Delayed Draw Term Loan | SOFR(Q) | Floor Rate 0.75% Spread 2.58% Cash + 4.30% PIK | Total Coupon 12.10% | Maturity 7/9/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[17] | 0.75% | |||||
Interest Rate, PIK | [2],[3],[9],[17] | 4.30% | |||||
Interest Rate, Cash | [2],[3],[9],[17] | 2.58% | |||||
Total Coupon | [2],[3],[9],[17] | 12.10% | |||||
Maturity | [2],[3],[9],[17] | Jul. 09, 2029 | |||||
Principal | [2],[3],[9],[17] | $ 1,546,457 | |||||
Cost | [2],[3],[9],[10],[17] | 1,519,368 | |||||
Fair Value | [1],[2],[3],[9],[17] | $ 1,536,096 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Grey Orange Incorporated | First Lien Delayed Draw Term Loan (3.75% Exit Fee) | SOFR(Q) | Floor Rate 1.00% | Spread 7.25% | Total Coupon 11.55% | Maturity 5/6/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14] | 1% | |||||
Spread | [4],[5],[13],[14] | 7.25% | |||||
Total Coupon | [4],[5],[13],[14] | 11.55% | |||||
Maturity | [4],[5],[13],[14] | May 06, 2026 | |||||
Principal | [4],[5],[13],[14] | $ 923,630 | |||||
Cost | [4],[5],[11],[13],[14] | 910,497 | |||||
Fair Value | [4],[5],[12],[13],[14] | $ 905,004 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Grey Orange Incorporated | First Lien Delayed Draw Term Loan (3.75% Exit Fee) | SOFR(Q)/(S) | Floor Rate 1.00% | Spread 7.25% | Total Coupon 12.58% | Maturity 5/6/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 1% | |||||
Spread | [2],[3],[9],[15] | 7.25% | |||||
Total Coupon | [2],[3],[9],[15] | 12.58% | |||||
Maturity | [2],[3],[9],[15] | May 06, 2026 | |||||
Principal | [2],[3],[9],[15] | $ 1,539,384 | |||||
Cost | [2],[3],[9],[10],[15] | 1,528,197 | |||||
Fair Value | [1],[2],[3],[9],[15] | $ 1,522,758 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Grey Orange Incorporated | First Lien Term Loan (3.75% Exit Fee) | SOFR(Q) | Floor Rate 1.00% | Spread 7.25% | Total Coupon 12.23% | Maturity 5/6/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5],[13] | 7.25% | |||||
Total Coupon | [4],[5],[13] | 12.23% | |||||
Maturity | [4],[5],[13] | May 06, 2026 | |||||
Principal | [4],[5],[13] | $ 1,539,384 | |||||
Cost | [4],[5],[11],[13] | 1,525,409 | |||||
Fair Value | [4],[5],[12],[13] | $ 1,520,757 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Grey Orange Incorporated | First Lien Term Loan (3.75% Exit Fee) | SOFR(Q) | Floor Rate 1.00% | Spread 7.25% | Total Coupon 12.58% | Maturity 5/6/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 7.25% | |||||
Total Coupon | [2],[3],[9] | 12.58% | |||||
Maturity | [2],[3],[9] | May 06, 2026 | |||||
Principal | [2],[3],[9] | $ 1,539,384 | |||||
Cost | [2],[3],[9],[10] | 1,527,175 | |||||
Fair Value | [1],[2],[3],[9] | $ 1,522,758 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Integrate.com, Inc. (Infinity Data, Inc.) | First Lien Delayed Draw Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 3.00% Cash + 3.00% PIK | Total Coupon 10.28% | Maturity 12/17/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14],[22] | 1% | |||||
Interest Rate, PIK | [4],[5],[13],[14],[22] | 3% | |||||
Interest Rate, Cash | [4],[5],[13],[14],[22] | 3% | |||||
Total Coupon | [4],[5],[13],[14],[22] | 10.28% | |||||
Maturity | [4],[5],[13],[14],[22] | Dec. 17, 2027 | |||||
Principal | [4],[5],[13],[14],[22] | $ 0 | |||||
Cost | [4],[5],[11],[13],[14],[22] | (1,748) | |||||
Fair Value | [4],[5],[12],[13],[14],[22] | $ (8,000) | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Integrate.com, Inc. (Infinity Data, Inc.) | First Lien Delayed Draw Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 3.00% Cash + 3.00% PIK | Total Coupon 11.19% | Maturity 12/17/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15],[17] | 1% | |||||
Interest Rate, PIK | [2],[3],[9],[15],[17] | 3% | |||||
Interest Rate, Cash | [2],[3],[9],[15],[17] | 3% | |||||
Total Coupon | [2],[3],[9],[15],[17] | 11.19% | |||||
Maturity | [2],[3],[9],[15],[17] | Dec. 17, 2027 | |||||
Principal | [2],[3],[9],[15],[17] | $ 100,000 | |||||
Cost | [2],[3],[9],[10],[15],[17] | 97,705 | |||||
Fair Value | [1],[2],[3],[9],[15],[17] | $ 90,507 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Integrate.com, Inc. (Infinity Data, Inc.) | First Lien Revolver | SOFR(M) | Floor Rate 1.00% | Spread 6.00% | Total Coupon 10.28% | Maturity 12/17/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14] | 1% | |||||
Spread | [4],[5],[13],[14] | 6% | |||||
Total Coupon | [4],[5],[13],[14] | 10.28% | |||||
Maturity | [4],[5],[13],[14] | Dec. 17, 2027 | |||||
Principal | [4],[5],[13],[14] | $ 0 | |||||
Cost | [4],[5],[11],[13],[14] | (2,208) | |||||
Fair Value | [4],[5],[12],[13],[14] | $ (4,000) | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Integrate.com, Inc. (Infinity Data, Inc.) | First Lien Revolver | SOFR(M) | Floor Rate 1.00% | Spread 6.00% | Total Coupon 11.19% | Maturity 12/17/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 1% | |||||
Spread | [2],[3],[9],[15] | 6% | |||||
Total Coupon | [2],[3],[9],[15] | 11.19% | |||||
Maturity | [2],[3],[9],[15] | Dec. 17, 2027 | |||||
Principal | [2],[3],[9],[15] | $ 0 | |||||
Cost | [2],[3],[9],[10],[15] | (1,997) | |||||
Fair Value | [1],[2],[3],[9],[15] | $ (4,747) | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Integrate.com, Inc. (Infinity Data, Inc.) | First Lien Term Loan | LIBOR(M)/SOFR(M) | Floor Rate 1.00% | Spread 3.00% Cash + 3.00% PIK | Total Coupon 10.34% | Maturity 12/17/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[22],[34] | 1% | |||||
Interest Rate, PIK | [4],[5],[13],[22],[34] | 3% | |||||
Interest Rate, Cash | [4],[5],[13],[22],[34] | 3% | |||||
Total Coupon | [4],[5],[13],[22],[34] | 10.34% | |||||
Maturity | [4],[5],[13],[22],[34] | Dec. 17, 2027 | |||||
Principal | [4],[5],[13],[22],[34] | $ 1,837,108 | |||||
Cost | [4],[5],[11],[13],[22],[34] | 1,796,699 | |||||
Fair Value | [4],[5],[12],[13],[22],[34] | $ 1,781,995 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Integrate.com, Inc. (Infinity Data, Inc.) | First Lien Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 3.00% Cash + 3.00% PIK | Total Coupon 11.20% | Maturity 12/17/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[16],[17] | 1% | |||||
Interest Rate, PIK | [2],[3],[9],[16],[17] | 3% | |||||
Interest Rate, Cash | [2],[3],[9],[16],[17] | 3% | |||||
Total Coupon | [2],[3],[9],[16],[17] | 11.20% | |||||
Maturity | [2],[3],[9],[16],[17] | Dec. 17, 2027 | |||||
Principal | [2],[3],[9],[16],[17] | $ 1,865,874 | |||||
Cost | [2],[3],[9],[10],[16],[17] | 1,829,377 | |||||
Fair Value | [1],[2],[3],[9],[16],[17] | $ 1,799,449 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | JOBVITE, Inc. (Employ, Inc.) | First Lien Term Loan | SOFR(S) | Floor Rate 0.75% | Spread 8.00% | Total Coupon 10.93% | Maturity 8/5/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 0.75% | |||||
Spread | [4],[5],[13] | 8% | |||||
Total Coupon | [4],[5],[13] | 10.93% | |||||
Maturity | [4],[5],[13] | Aug. 05, 2028 | |||||
Principal | [4],[5],[13] | $ 7,017,052 | |||||
Cost | [4],[5],[11],[13] | 6,847,683 | |||||
Fair Value | [4],[5],[12],[13] | $ 6,779,876 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | JOBVITE, Inc. (Employ, Inc.) | First Lien Term Loan | SOFR(S) | Floor Rate 0.75% | Spread 8.00% | Total Coupon 13.07% | Maturity 8/5/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0.75% | |||||
Spread | [2],[3],[9] | 8% | |||||
Total Coupon | [2],[3],[9] | 13.07% | |||||
Maturity | [2],[3],[9] | Aug. 05, 2028 | |||||
Principal | [2],[3],[9] | $ 7,017,052 | |||||
Cost | [2],[3],[9],[10] | 6,861,264 | |||||
Fair Value | [1],[2],[3],[9] | $ 6,852,152 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Kaseya Inc. | First Lien Delayed Draw Term Loan | SOFR(M) | Floor Rate 0.75% | Spread 3.75% Cash + 2.50% PIK | Total Coupon 11.36% | Maturity 6/25/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 0.75% | |||||
Interest Rate, PIK | [2],[3],[9],[15],[17] | 2.50% | |||||
Interest Rate, Cash | [2],[3],[9],[15],[17] | 3.75% | |||||
Total Coupon | [2],[3],[9] | 11.36% | |||||
Maturity | [2],[3],[9] | Jun. 25, 2029 | |||||
Principal | [2],[3],[9] | $ 27,757 | |||||
Cost | [2],[3],[9],[10] | 24,841 | |||||
Fair Value | [1],[2],[3],[9] | $ 15,471 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Kaseya Inc. | First Lien Delayed Draw Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 5.75% | Total Coupon 10.33% | Maturity 6/25/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14] | 0.75% | |||||
Spread | [4],[5],[13],[14] | 5.75% | |||||
Total Coupon | [4],[5],[13],[14] | 10.33% | |||||
Maturity | [4],[5],[13],[14] | Jun. 25, 2029 | |||||
Principal | [4],[5],[13],[14] | $ 0 | |||||
Cost | [4],[5],[11],[13],[14] | (3,158) | |||||
Fair Value | [4],[5],[12],[13],[14] | $ (13,651) | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Kaseya Inc. | First Lien Revolver | SOFR(M) | Floor Rate 0.75% | Spread 3.75% Cash + 2.50% PIK | Total Coupon 11.36% | Maturity 6/25/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 0.75% | |||||
Interest Rate, PIK | [2],[3],[9],[15],[17] | 2.50% | |||||
Interest Rate, Cash | [2],[3],[9],[15],[17] | 3.75% | |||||
Total Coupon | [2],[3],[9] | 11.36% | |||||
Maturity | [2],[3],[9] | Jun. 25, 2029 | |||||
Principal | [2],[3],[9] | $ 113,760 | |||||
Cost | [2],[3],[9],[10] | 107,915 | |||||
Fair Value | [1],[2],[3],[9] | $ 101,474 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Kaseya Inc. | First Lien Revolver | SOFR(Q) | Floor Rate 0.75% | Spread 5.75% | Total Coupon 10.33% | Maturity 6/25/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14] | 0.75% | |||||
Spread | [4],[5],[13],[14] | 5.75% | |||||
Total Coupon | [4],[5],[13],[14] | 10.33% | |||||
Maturity | [4],[5],[13],[14] | Jun. 25, 2029 | |||||
Principal | [4],[5],[13],[14] | $ 0 | |||||
Cost | [4],[5],[11],[13],[14] | (6,318) | |||||
Fair Value | [4],[5],[12],[13],[14] | $ (13,651) | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Kaseya Inc. | First Lien Term Loan | SOFR(M) | Floor Rate 0.75% | Spread 3.75% Cash + 2.50% PIK | Total Coupon 11.35% | Maturity 6/25/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0.75% | |||||
Interest Rate, PIK | [2],[3],[9],[15],[17] | 2.50% | |||||
Interest Rate, Cash | [2],[3],[9],[15],[17] | 3.75% | |||||
Total Coupon | [2],[3],[9] | 11.35% | |||||
Maturity | [2],[3],[9] | Jun. 25, 2029 | |||||
Principal | [2],[3],[9] | $ 7,444,189 | |||||
Cost | [2],[3],[9],[10] | 7,345,047 | |||||
Fair Value | [1],[2],[3],[9] | $ 7,243,196 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Kaseya Inc. | First Lien Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 5.75% | Total Coupon 10.33% | Maturity 6/25/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 0.75% | |||||
Spread | [4],[5],[13] | 5.75% | |||||
Total Coupon | [4],[5],[13] | 10.33% | |||||
Maturity | [4],[5],[13] | Jun. 25, 2029 | |||||
Principal | [4],[5],[13] | $ 7,444,189 | |||||
Cost | [4],[5],[11],[13] | 7,337,399 | |||||
Fair Value | [4],[5],[12],[13] | $ 7,220,864 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Kong Inc. | First Lien Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 5.50% Cash + 3.25% PIK | Total Coupon 12.99% | Maturity 11/1/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[22] | 1% | |||||
Interest Rate, PIK | [4],[5],[13],[22] | 3.25% | |||||
Interest Rate, Cash | [4],[5],[13],[22] | 5.50% | |||||
Total Coupon | [4],[5],[13],[22] | 12.99% | |||||
Maturity | [4],[5],[13],[22] | Nov. 01, 2027 | |||||
Principal | [4],[5],[13],[22] | $ 2,100,294 | |||||
Cost | [4],[5],[11],[13],[22] | 2,058,551 | |||||
Fair Value | [4],[5],[12],[13],[22] | $ 2,058,288 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Kong Inc. | First Lien Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 5.50% Cash + 3.25% PIK | Total Coupon 14.02% | Maturity 11/1/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[17] | 1% | |||||
Interest Rate, PIK | [2],[3],[9],[17] | 3.25% | |||||
Interest Rate, Cash | [2],[3],[9],[17] | 5.50% | |||||
Total Coupon | [2],[3],[9],[17] | 14.02% | |||||
Maturity | [2],[3],[9],[17] | Nov. 01, 2027 | |||||
Principal | [2],[3],[9],[17] | $ 2,134,656 | |||||
Cost | [2],[3],[9],[10],[17] | 2,094,476 | |||||
Fair Value | [1],[2],[3],[9],[17] | $ 2,113,949 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Nvest, Inc. (SigFig) | First Lien Term Loan | SOFR(S) | Floor Rate 1.00% | Spread 7.50% | Total Coupon 11.49% | Maturity 9/15/2025 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5],[13] | 7.50% | |||||
Total Coupon | [4],[5],[13] | 11.49% | |||||
Maturity | [4],[5],[13] | Sep. 15, 2025 | |||||
Principal | [4],[5],[13] | $ 2,349,466 | |||||
Cost | [4],[5],[11],[13] | 2,318,584 | |||||
Fair Value | [4],[5],[12],[13] | $ 2,289,789 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Nvest, Inc. (SigFig) | First Lien Term Loan | SOFR(S) | Floor Rate 1.00% | Spread 7.50% | Total Coupon 13.15% | Maturity 9/15/2025 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 7.50% | |||||
Total Coupon | [2],[3],[9] | 13.15% | |||||
Maturity | [2],[3],[9] | Sep. 15, 2025 | |||||
Principal | [2],[3],[9] | $ 2,349,466 | |||||
Cost | [2],[3],[9],[10] | 2,325,368 | |||||
Fair Value | [1],[2],[3],[9] | $ 2,277,572 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Oversight Systems, Inc. | First Lien Delayed Draw Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 7.75% | Total Coupon 14.70% | Maturity 9/24/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 7.75% | |||||
Total Coupon | [2],[3],[9] | 12.95% | |||||
Maturity | [2],[3],[9] | Sep. 24, 2026 | |||||
Principal | [2],[3],[9] | $ 0 | |||||
Cost | [2],[3],[9],[10] | (1,397) | |||||
Fair Value | [1],[2],[3],[9] | $ (1,389) | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Oversight Systems, Inc. | First Lien Term Loan | LIBOR(M) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 11.38% | Maturity 9/24/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5],[13] | 7% | |||||
Total Coupon | [4],[5],[13] | 11.38% | |||||
Maturity | [4],[5],[13] | Sep. 24, 2026 | |||||
Principal | [4],[5],[13] | $ 1,543,315 | |||||
Cost | [4],[5],[11],[13] | 1,519,175 | |||||
Fair Value | [4],[5],[12],[13] | $ 1,481,582 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Oversight Systems, Inc. | First Lien Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 7.75% | Total Coupon 14.70% | Maturity 9/24/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 7.75% | |||||
Total Coupon | [2],[3],[9] | 12.95% | |||||
Maturity | [2],[3],[9] | Sep. 24, 2026 | |||||
Principal | [2],[3],[9] | $ 1,608,107 | |||||
Cost | [2],[3],[9],[10] | 1,586,095 | |||||
Fair Value | [1],[2],[3],[9] | $ 1,577,392 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | SEP Eiger BidCo Ltd. (Beqom) (Switzerland) | First Lien Revolver | SOFR(Q) | Floor Rate 1.00% | Spread 6.50% | Total Coupon 10.71% | Maturity 5/9/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14],[18],[19] | 1% | |||||
Spread | [4],[5],[13],[14],[18],[19] | 6.50% | |||||
Total Coupon | [4],[5],[13],[14],[18],[19] | 10.71% | |||||
Maturity | [4],[5],[13],[14],[18],[19] | May 09, 2028 | |||||
Principal | [4],[5],[13],[14],[18],[19] | $ 0 | |||||
Cost | [4],[5],[11],[13],[14],[18],[19] | (10,516) | |||||
Fair Value | [4],[5],[12],[13],[14],[18],[19] | $ (17,476) | |||||
Investment, Identifier [Axis]: Debt Investments | Software | SEP Eiger BidCo Ltd. (Beqom) (Switzerland) | First Lien Revolver | SOFR(Q) | Floor Rate 1.00% | Spread 6.50% | Total Coupon 11.54% | Maturity 5/9/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15],[20],[21] | 1% | |||||
Spread | [2],[3],[9],[15],[20],[21] | 6.50% | |||||
Total Coupon | [2],[3],[9],[15],[20],[21] | 11.54% | |||||
Maturity | [2],[3],[9],[15],[20],[21] | May 09, 2028 | |||||
Principal | [2],[3],[9],[15],[21],[23] | $ 0 | |||||
Cost | [2],[3],[9],[10],[17],[20],[21] | (9,543) | |||||
Fair Value | [1],[2],[3],[9],[15],[20],[21] | $ (5,413) | |||||
Investment, Identifier [Axis]: Debt Investments | Software | SEP Eiger BidCo Ltd. (Beqom) (Switzerland) | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 3.00% Cash + 3.50% PIK | Total Coupon 10.71% | Maturity 5/9/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[18],[19],[22] | 1% | |||||
Interest Rate, PIK | [4],[5],[13],[18],[19],[22] | 3.50% | |||||
Interest Rate, Cash | [4],[5],[13],[18],[19],[22] | 3% | |||||
Total Coupon | [4],[5],[13],[18],[19],[22] | 10.71% | |||||
Maturity | [4],[5],[13],[18],[19],[22] | May 09, 2028 | |||||
Principal | [4],[5],[13],[18],[19],[22] | $ 5,645,032 | |||||
Cost | [4],[5],[11],[13],[18],[19],[22] | 5,541,077 | |||||
Fair Value | [4],[5],[12],[13],[18],[19],[22] | $ 5,477,375 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | SEP Eiger BidCo Ltd. (Beqom) (Switzerland) | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 3.00% Cash + 3.50% PIK | Total Coupon 11.54% | Maturity 5/9/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[17],[20],[21] | 1% | |||||
Interest Rate, PIK | [2],[3],[9],[17],[20],[21] | 3.50% | |||||
Interest Rate, Cash | [2],[3],[9],[17],[20],[21] | 3% | |||||
Total Coupon | [2],[3],[9],[17],[20],[21] | 11.54% | |||||
Maturity | [2],[3],[9],[17],[20],[21] | May 09, 2028 | |||||
Principal | [2],[3],[9],[17],[20],[21] | $ 5,873,287 | |||||
Cost | [2],[3],[9],[10],[17],[20],[21] | 5,775,615 | |||||
Fair Value | [1],[2],[3],[9],[17],[20],[21] | $ 5,819,252 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | SEP Raptor Acquisition, Inc. (Loopio) (Canada) | First Lien Revolver | LIBOR(Q) | Floor Rate 1.00% | Spread 4.50% Cash + 3.00% PIK | Total Coupon 12.25% | Maturity 3/31/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14],[18],[19],[22] | 1% | |||||
Interest Rate, PIK | [4],[5],[13],[14],[18],[19],[22] | 3% | |||||
Interest Rate, Cash | [4],[5],[13],[14],[18],[19],[22] | 4.50% | |||||
Total Coupon | [4],[5],[13],[14],[18],[19],[22] | 12.25% | |||||
Maturity | [4],[5],[13],[14],[18],[19],[22] | Mar. 31, 2027 | |||||
Principal | [4],[5],[13],[14],[18],[19],[22] | $ 0 | |||||
Cost | [4],[5],[11],[13],[14],[18],[19],[22] | (5,816) | |||||
Fair Value | [4],[5],[12],[13],[14],[18],[19],[22] | $ (7,373) | |||||
Investment, Identifier [Axis]: Debt Investments | Software | SEP Raptor Acquisition, Inc. (Loopio) (Canada) | First Lien Revolver | SOFR(Q) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 12.89% | Maturity 3/31/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15],[17],[20],[21] | 1% | |||||
Spread | [2],[3],[9],[15],[20],[21] | 7% | |||||
Total Coupon | [2],[3],[9],[15],[20],[21] | 12.89% | |||||
Maturity | [2],[3],[9],[15],[20],[21] | Mar. 31, 2027 | |||||
Principal | [2],[3],[9],[15],[21],[23] | $ 0 | |||||
Cost | [2],[3],[9],[10],[17],[20],[21] | (5,135) | |||||
Fair Value | [1],[2],[3],[9],[15],[20],[21] | $ (7,373) | |||||
Investment, Identifier [Axis]: Debt Investments | Software | SEP Raptor Acquisition, Inc. (Loopio) (Canada) | First Lien Term Loan | LIBOR(Q) | Floor Rate 1.00% | Spread 4.50% Cash + 3.00% PIK | Total Coupon 12.25% | Maturity 3/31/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[18],[19],[22] | 1% | |||||
Interest Rate, PIK | [4],[5],[13],[18],[19],[22] | 3% | |||||
Interest Rate, Cash | [4],[5],[13],[18],[19],[22] | 4.50% | |||||
Total Coupon | [4],[5],[13],[18],[19],[22] | 12.25% | |||||
Maturity | [4],[5],[13],[18],[19],[22] | Mar. 31, 2027 | |||||
Principal | [4],[5],[13],[18],[19],[22] | $ 3,799,349 | |||||
Cost | [4],[5],[11],[13],[18],[19],[22] | 3,742,283 | |||||
Fair Value | [4],[5],[12],[13],[18],[19],[22] | $ 3,730,961 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | SEP Raptor Acquisition, Inc. (Loopio) (Canada) | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 12.89% | Maturity 3/31/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[17],[20],[21] | 1% | |||||
Spread | [2],[3],[9],[15],[20],[21] | 7% | |||||
Total Coupon | [2],[3],[9],[15],[20],[21] | 12.89% | |||||
Maturity | [2],[3],[9],[15],[20],[21] | Mar. 31, 2027 | |||||
Principal | [2],[3],[9],[17],[20],[21] | $ 3,828,161 | |||||
Cost | [2],[3],[9],[10],[17],[20],[21] | 3,778,273 | |||||
Fair Value | [1],[2],[3],[9],[15],[20],[21] | $ 3,759,254 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Superman Holdings, LLC (Foundation Software) | First Lien 2023 Incremental Delayed Draw Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 5.75% | Total Coupon 10.99% | Maturity 8/31/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 5.75% | |||||
Total Coupon | [2],[3],[9] | 10.99% | |||||
Maturity | [2],[3],[9] | Aug. 31, 2027 | |||||
Principal | [2],[3],[9] | $ 0 | |||||
Cost | [2],[3],[9],[10] | (4,140) | |||||
Fair Value | [1],[2],[3],[9] | $ (7,237) | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Superman Holdings, LLC (Foundation Software) | First Lien Revolver | LIBOR(Q) | Floor Rate 1.00% | Spread 6.13% | Total Coupon 10.85% | Maturity 8/31/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14] | 1% | |||||
Spread | [4],[5],[13],[14] | 6.13% | |||||
Total Coupon | [4],[5],[13],[14] | 10.85% | |||||
Maturity | [4],[5],[13],[14] | Aug. 31, 2026 | |||||
Principal | [4],[5],[13],[14] | $ 0 | |||||
Cost | [4],[5],[11],[13],[14] | (5,050) | |||||
Fair Value | [4],[5],[12],[13],[14] | $ (5,601) | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Superman Holdings, LLC (Foundation Software) | First Lien Revolver | SOFR(Q) | Floor Rate 1.00% | Spread 5.75% | Total Coupon 10.99% | Maturity 8/31/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 1% | |||||
Spread | [2],[3],[9],[15] | 5.75% | |||||
Total Coupon | [2],[3],[9],[15] | 10.99% | |||||
Maturity | [2],[3],[9],[15] | Aug. 31, 2026 | |||||
Principal | [2],[3],[9],[15] | $ 0 | |||||
Cost | [2],[3],[9],[10],[15] | (4,372) | |||||
Fair Value | [1],[2],[3],[9],[15] | $ (6,918) | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Superman Holdings, LLC (Foundation Software) | First Lien Term Loan | LIBOR(Q) | Floor Rate 1.00% | Spread 6.13% | Total Coupon 10.85% | Maturity 8/31/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5],[13] | 6.13% | |||||
Total Coupon | [4],[5],[13] | 10.85% | |||||
Maturity | [4],[5],[13] | Aug. 31, 2027 | |||||
Principal | [4],[5],[13] | $ 4,616,646 | |||||
Cost | [4],[5],[11],[13] | 4,536,715 | |||||
Fair Value | [4],[5],[12],[13] | $ 4,538,163 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Superman Holdings, LLC (Foundation Software) | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 5.75% | Total Coupon 10.99% | Maturity 8/31/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 5.75% | |||||
Total Coupon | [2],[3],[9] | 10.99% | |||||
Maturity | [2],[3],[9] | Aug. 31, 2027 | |||||
Principal | [2],[3],[9] | $ 6,054,235 | |||||
Cost | [2],[3],[9],[10] | 5,945,747 | |||||
Fair Value | [1],[2],[3],[9] | $ 5,927,096 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Syntellis Parent, LLC (Axiom Software) | First Lien Term Loan | SOFR(M) | Floor Rate 0.75% | Spread 6.50% | Total Coupon 10.82% | Maturity 8/2/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 0.75% | |||||
Spread | [4],[5],[13] | 6.50% | |||||
Total Coupon | [4],[5],[13] | 10.82% | |||||
Maturity | [4],[5],[13] | Aug. 02, 2027 | |||||
Principal | [4],[5],[13] | $ 7,652,145 | |||||
Cost | [4],[5],[11],[13] | 7,502,382 | |||||
Fair Value | [4],[5],[12],[13] | $ 7,422,580 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Syntellis Parent, LLC (Axiom Software) | First Lien Term Loan | SOFR(M) | Floor Rate 0.75% | Spread 6.50% | Total Coupon 11.60% | Maturity 8/2/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0.75% | |||||
Spread | [2],[3],[9] | 6.50% | |||||
Total Coupon | [2],[3],[9] | 11.60% | |||||
Maturity | [2],[3],[9] | Aug. 02, 2027 | |||||
Principal | [2],[3],[9] | $ 7,613,616 | |||||
Cost | [2],[3],[9],[10] | 7,477,716 | |||||
Fair Value | [1],[2],[3],[9] | $ 7,446,117 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Tessian Inc. (United Kingdom) | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 8.00% | Total Coupon 13.26% | Maturity 3/15/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [20],[21] | 1% | |||||
Spread | [20],[21] | 8% | |||||
Total Coupon | [20],[21] | 13.26% | |||||
Maturity | [20],[21] | Mar. 15, 2028 | |||||
Principal | [20],[21] | $ 2,236,105 | |||||
Cost | [10],[20],[21] | 2,193,106 | |||||
Fair Value | [20],[21] | $ 2,193,619 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Zendesk, Inc. | First Lien Delayed Draw Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 3.50% Cash + 3.50% PIK | Total Coupon 12.25% | Maturity 11/22/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15],[17] | 0.75% | |||||
Interest Rate, PIK | [2],[3],[9],[15],[17] | 3.50% | |||||
Interest Rate, Cash | [2],[3],[9],[15],[17] | 3.50% | |||||
Total Coupon | [2],[3],[9],[15],[17] | 12.25% | |||||
Maturity | [2],[3],[9],[15],[17] | Nov. 22, 2028 | |||||
Principal | [2],[3],[9],[15],[17] | $ 0 | |||||
Cost | [2],[3],[9],[10],[15],[17] | (11,665) | |||||
Fair Value | [1],[2],[3],[9],[17] | $ (3,893) | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Zendesk, Inc. | First Lien Delayed Draw Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 6.50% | Total Coupon 11.04% | Maturity 11/22/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14] | 0.75% | |||||
Spread | [4],[5],[13],[14] | 6.50% | |||||
Total Coupon | [4],[5],[13],[14] | 11.04% | |||||
Maturity | [4],[5],[13],[14] | Nov. 22, 2028 | |||||
Principal | [4],[5],[13],[14] | $ 0 | |||||
Cost | [4],[5],[11],[13],[14] | (12,739) | |||||
Fair Value | [4],[5],[12],[13],[14] | $ (25,952) | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Zendesk, Inc. | First Lien Revolver | SOFR(Q) | Floor Rate 0.75% | Spread 6.50% | Total Coupon 11.04% | Maturity 11/22/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14] | 0.75% | |||||
Spread | [4],[5],[13],[14] | 6.50% | |||||
Total Coupon | [4],[5],[13],[14] | 11.04% | |||||
Maturity | [4],[5],[13],[14] | Nov. 22, 2028 | |||||
Principal | [4],[5],[13],[14] | $ 0 | |||||
Cost | [4],[5],[11],[13],[14] | (10,499) | |||||
Fair Value | [4],[5],[12],[13],[14] | $ (10,686) | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Zendesk, Inc. | First Lien Revolver | SOFR(Q) | Floor Rate 0.75% | Spread 6.50% | Total Coupon 11.75% | Maturity 11/22/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [3],[9],[15] | 0.75% | |||||
Spread | [2],[3],[9],[15] | 6.50% | |||||
Total Coupon | [2],[3],[9],[15] | 11.75% | |||||
Maturity | [2],[3],[9],[15] | Nov. 22, 2028 | |||||
Principal | [2],[3],[9],[15] | $ 0 | |||||
Cost | [2],[3],[9],[10],[15],[17] | (9,632) | |||||
Fair Value | [1],[2],[3],[9],[17] | $ (1,603) | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Zendesk, Inc. | First Lien Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 3.50% Cash + 3.50% PIK | Total Coupon 12.25% | Maturity 11/22/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[17] | 0.75% | |||||
Interest Rate, PIK | [2],[3],[9],[17] | 3.50% | |||||
Interest Rate, Cash | [2],[3],[9],[17] | 3.50% | |||||
Total Coupon | [2],[3],[9],[17] | 12.25% | |||||
Maturity | [2],[3],[9],[17] | Nov. 22, 2028 | |||||
Principal | [2],[3],[9],[17] | $ 5,235,769 | |||||
Cost | [2],[3],[9],[10],[17] | 5,141,742 | |||||
Fair Value | [1],[2],[3],[9],[17] | $ 5,220,062 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Zendesk, Inc. | First Lien Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 6.50% | Total Coupon 11.04% | Maturity 11/22/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 0.75% | |||||
Spread | [4],[5],[13] | 6.50% | |||||
Total Coupon | [4],[5],[13] | 11.04% | |||||
Maturity | [4],[5],[13] | Nov. 22, 2028 | |||||
Principal | [4],[5],[13] | $ 5,190,354 | |||||
Cost | [4],[5],[11],[13] | 5,086,883 | |||||
Fair Value | [4],[5],[12],[13] | $ 5,086,547 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Zilliant Incorporated | First Lien Delayed Draw Term Loan | LIBOR(M) | Floor Rate 0.75% | Spread 2.00% Cash + 4.50% PIK | Total Coupon 10.85% | Maturity 12/21/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14],[22] | 0.75% | |||||
Interest Rate, PIK | [4],[5],[13],[14],[22] | 4.50% | |||||
Interest Rate, Cash | [4],[5],[13],[14],[22] | 2% | |||||
Total Coupon | [4],[5],[13],[14],[22] | 10.85% | |||||
Maturity | [4],[5],[13],[14],[22] | Dec. 21, 2027 | |||||
Principal | [4],[5],[13],[14],[22] | $ 0 | |||||
Cost | [4],[5],[11],[13],[14],[22] | (2,442) | |||||
Fair Value | [4],[5],[12],[13],[14],[22] | $ (22,963) | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Zilliant Incorporated | First Lien Delayed Draw Term Loan | LIBOR(M) | Floor Rate 0.75% | Spread 2.00% Cash + 4.50% PIK | Total Coupon 11.65% | Maturity 12/21/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [3],[9],[15],[17] | 0.75% | |||||
Interest Rate, PIK | [2],[3],[9],[15],[17] | 4.50% | |||||
Interest Rate, Cash | [2],[3],[9],[15],[17] | 2% | |||||
Total Coupon | [2],[3],[9],[15],[17] | 11.65% | |||||
Maturity | [2],[3],[9],[15],[17] | Dec. 21, 2027 | |||||
Principal | [2],[3],[9],[15],[17] | $ 0 | |||||
Cost | [2],[3],[9],[10],[15],[17] | (1,832) | |||||
Fair Value | [1],[2],[3],[9],[15],[17] | $ (18,889) | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Zilliant Incorporated | First Lien Revolver | LIBOR(M) | Floor Rate 0.75% | Spread 6.00% | Total Coupon 10.35% | Maturity 12/21/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[14] | 0.75% | |||||
Spread | [4],[5],[13],[14] | 6% | |||||
Total Coupon | [4],[5],[13],[14] | 10.35% | |||||
Maturity | [4],[5],[13],[14] | Dec. 21, 2027 | |||||
Principal | [4],[5],[13],[14] | $ 0 | |||||
Cost | [4],[5],[11],[13],[14] | (2,458) | |||||
Fair Value | [4],[5],[12],[13],[14] | $ (9,185) | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Zilliant Incorporated | First Lien Revolver | LIBOR(M) | Floor Rate 0.75% | Spread 6.00% | Total Coupon 11.15% | Maturity 12/21/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [3],[9],[15] | 0.75% | |||||
Spread | [2],[3],[9],[15] | 6% | |||||
Total Coupon | [2],[3],[9],[15] | 11.15% | |||||
Maturity | [2],[3],[9],[15] | Dec. 21, 2027 | |||||
Principal | [2],[3],[9],[15] | $ 0 | |||||
Cost | [2],[3],[9],[10],[15] | (2,214) | |||||
Fair Value | [1],[2],[3],[9],[15] | $ (7,556) | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Zilliant Incorporated | First Lien Term Loan | LIBOR(M) | Floor Rate 0.75% | Spread 2.00% Cash + 4.50% PIK | Total Coupon 10.85% | Maturity 12/21/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[22] | 0.75% | |||||
Interest Rate, PIK | [4],[5],[13],[22] | 4.50% | |||||
Interest Rate, Cash | [4],[5],[13],[22] | 2% | |||||
Total Coupon | [4],[5],[13],[22] | 10.85% | |||||
Maturity | [4],[5],[13],[22] | Dec. 21, 2027 | |||||
Principal | [4],[5],[13],[22] | $ 1,550,239 | |||||
Cost | [4],[5],[11],[13],[22] | 1,524,752 | |||||
Fair Value | [4],[5],[12],[13],[22] | 1,454,124 | |||||
Investment, Identifier [Axis]: Debt Investments | Software | Zilliant Incorporated | First Lien Term Loan | LIBOR(M) | Floor Rate 0.75% | Spread 2.00% Cash + 4.50% PIK | Total Coupon 11.65% | Maturity 12/21/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [3],[9],[17] | 0.75% | |||||
Interest Rate, PIK | [2],[3],[9],[17] | 4.50% | |||||
Interest Rate, Cash | [2],[3],[9],[17] | 2% | |||||
Total Coupon | [2],[3],[9],[17] | 11.65% | |||||
Maturity | [2],[3],[9],[17] | Dec. 21, 2027 | |||||
Principal | [2],[3],[9],[17] | $ 1,586,831 | |||||
Cost | [2],[3],[9],[10],[17] | 1,563,715 | |||||
Fair Value | [1],[2],[3],[9],[17] | 1,505,902 | |||||
Investment, Identifier [Axis]: Debt Investments | Specialty Retail | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | [2],[3],[9],[10] | 11,026,330 | |||||
Fair Value | [1],[2],[3],[9] | $ 10,658,045 | |||||
Investment, Identifier [Axis]: Debt Investments | Specialty Retail | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | [4],[5],[11],[13] | 11,424,472 | |||||
Fair Value | [4],[5],[12],[13] | $ 11,115,033 | |||||
Investment, Identifier [Axis]: Debt Investments | Specialty Retail | Calceus Acquisition, Inc. (Cole Haan) | First Lien Sr Secured Notes | Fixed Spread 9.75% | Total Coupon 9.75% | Maturity 2/19/2025 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0% | |||||
Spread | [2],[3],[9] | 9.75% | |||||
Total Coupon | [2],[3],[9] | 9.75% | |||||
Maturity | [2],[3],[9] | Feb. 19, 2025 | |||||
Principal | [2],[3],[9] | $ 1,000,000 | |||||
Cost | [2],[3],[9],[10] | 988,074 | |||||
Fair Value | [1],[2],[3],[9] | $ 988,000 | |||||
Investment, Identifier [Axis]: Debt Investments | Specialty Retail | Calceus Acquisition, Inc. (Cole Haan) | First Lien Sr Secured Notes | Fixed | Spread 9.75% | Total Coupon 9.75% | Maturity 2/19/2025 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 0% | |||||
Spread | [4],[5],[13] | 9.75% | |||||
Total Coupon | [4],[5],[13] | 9.75% | |||||
Maturity | [4],[5],[13] | Feb. 19, 2025 | |||||
Principal | [4],[5],[13] | $ 1,000,000 | |||||
Cost | [4],[5],[11],[13] | 984,665 | |||||
Fair Value | [4],[5],[12],[13] | $ 916,000 | |||||
Investment, Identifier [Axis]: Debt Investments | Specialty Retail | Calceus Acquisition, Inc. (Cole Haan) | First Lien Term Loan B | LIBOR(Q) | Spread 5.50% | Total Coupon 10.23% | Maturity 2/12/2025 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[24] | 0% | |||||
Spread | [4],[5],[13],[24] | 5.50% | |||||
Total Coupon | [4],[5],[13],[24] | 10.23% | |||||
Maturity | [4],[5],[13],[24] | Feb. 12, 2025 | |||||
Principal | [4],[5],[13],[24] | $ 3,678,280 | |||||
Cost | [4],[5],[11],[13],[24] | 3,399,559 | |||||
Fair Value | [4],[5],[12],[13],[24] | $ 3,387,070 | |||||
Investment, Identifier [Axis]: Debt Investments | Specialty Retail | Calceus Acquisition, Inc. (Cole Haan) | First Lien Term Loan B | LIBOR(Q) | Spread 5.50% | Total Coupon 11.04% | Maturity 2/12/2025 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[23] | 0% | |||||
Spread | [2],[3],[9],[23] | 5.50% | |||||
Total Coupon | [2],[3],[9],[23] | 11.04% | |||||
Maturity | [2],[3],[9],[23] | Feb. 12, 2025 | |||||
Principal | [2],[3],[9],[23] | $ 3,574,667 | |||||
Cost | [2],[3],[9],[10],[23] | 3,363,498 | |||||
Fair Value | [1],[2],[3],[9],[23] | $ 3,443,584 | |||||
Investment, Identifier [Axis]: Debt Investments | Specialty Retail | Hanna Andersson, LLC | First Lien Term Loan | LIBOR(M) | Floor Rate 1.00% | Spread 6.00% | Total Coupon 10.29% | Maturity 7/2/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13] | 1% | |||||
Spread | [4],[5],[13] | 6% | |||||
Total Coupon | [4],[5],[13] | 10.29% | |||||
Maturity | [4],[5],[13] | Jul. 02, 2026 | |||||
Principal | [4],[5],[13] | $ 7,147,915 | |||||
Cost | [4],[5],[11],[13] | 7,040,248 | |||||
Fair Value | [4],[5],[12],[13] | $ 6,811,963 | |||||
Investment, Identifier [Axis]: Debt Investments | Specialty Retail | Hanna Andersson, LLC | First Lien Term Loan | LIBOR(M) | Floor Rate 1.00% | Spread 6.00% | Total Coupon 11.15% | Maturity 7/2/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 6% | |||||
Total Coupon | [2],[3],[9] | 11.15% | |||||
Maturity | [2],[3],[9] | Jul. 02, 2026 | |||||
Principal | [2],[3],[9] | $ 6,760,544 | |||||
Cost | [2],[3],[9],[10] | 6,674,758 | |||||
Fair Value | [1],[2],[3],[9] | $ 6,226,461 | |||||
Investment, Identifier [Axis]: Debt Investments | Technology Hardware, Storage & Peripherals | SumUp Holdings Luxembourg S.A.R.L. (United Kingdom) | First Lien Delayed Draw Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 11.68% | Maturity 2/17/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[13],[18],[19] | 1% | |||||
Spread | [4],[5],[13],[18],[19] | 7% | |||||
Total Coupon | [4],[5],[13],[18],[19] | 11.68% | |||||
Maturity | [4],[5],[13],[18],[19] | Feb. 17, 2026 | |||||
Principal | [4],[5],[13],[18],[19] | $ 10,842,857 | |||||
Cost | [4],[5],[11],[13],[18],[19] | 10,679,921 | |||||
Fair Value | [4],[5],[12],[13],[18],[19] | 10,452,514 | |||||
Investment, Identifier [Axis]: Debt Investments | Technology Hardware, Storage & Peripherals | SumUp Holdings Luxembourg S.A.R.L. (United Kingdom) | First Lien Delayed Draw Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 12.37% | Maturity 2/17/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[20],[21] | 1% | |||||
Spread | [2],[3],[9],[20],[21] | 7% | |||||
Total Coupon | [2],[3],[9],[20],[21] | 12.37% | |||||
Maturity | [2],[3],[9],[20],[21] | Feb. 17, 2026 | |||||
Principal | [2],[3],[9],[20],[21] | $ 10,842,857 | |||||
Cost | [2],[3],[9],[10],[20],[21] | 10,716,567 | |||||
Fair Value | [1],[2],[3],[9],[20],[21] | 10,691,057 | |||||
Investment, Identifier [Axis]: Debt Investments | Textiles, Apparel & Luxury Goods | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | 9,731,162 | [2],[3],[9],[10] | 9,719,530 | [4],[5],[11] | |||
Fair Value | $ 9,912,646 | [1],[2],[3],[9] | $ 9,821,542 | [4],[5],[12] | |||
Investment, Identifier [Axis]: Debt Investments | Textiles, Apparel & Luxury Goods | James Perse Enterprises, Inc. | First Lien Revolver | SOFR(Q) | Floor Rate 1.00% | Spread 6.25% | Total Coupon 10.93% | Maturity 9/8/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[14] | 1% | |||||
Spread | [4],[5],[14] | 6.25% | |||||
Total Coupon | [4],[5],[14] | 10.93% | |||||
Maturity | [4],[5],[14] | Sep. 08, 2027 | |||||
Principal | [4],[5] | $ 0 | |||||
Cost | [4],[5],[11],[14] | (18,354) | |||||
Fair Value | [4],[5],[12],[14] | $ (5,301) | |||||
Investment, Identifier [Axis]: Debt Investments | Textiles, Apparel & Luxury Goods | James Perse Enterprises, Inc. | First Lien Revolver | SOFR(S) | Floor Rate 1.00% | Spread 6.25% | Total Coupon 11.38% | Maturity 9/8/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[15] | 1% | |||||
Spread | [2],[3],[9],[15] | 6.25% | |||||
Total Coupon | [2],[3],[9],[15] | 11.38% | |||||
Maturity | [2],[3],[9],[15] | Sep. 08, 2027 | |||||
Principal | [2],[3],[9],[15] | $ 0 | |||||
Cost | [2],[3],[9],[10],[15] | (16,422) | |||||
Fair Value | [1],[2],[3],[9],[15] | $ 0 | |||||
Investment, Identifier [Axis]: Debt Investments | Textiles, Apparel & Luxury Goods | James Perse Enterprises, Inc. | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 6.25% | Total Coupon 10.93% | Maturity 9/8/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5] | 1% | |||||
Spread | [4],[5] | 6.25% | |||||
Total Coupon | [4],[5] | 10.93% | |||||
Maturity | [4],[5] | Sep. 08, 2027 | |||||
Principal | [4],[5] | $ 9,862,348 | |||||
Cost | [4],[5],[11] | 9,737,884 | |||||
Fair Value | [4],[5],[12] | 9,826,843 | |||||
Investment, Identifier [Axis]: Debt Investments | Textiles, Apparel & Luxury Goods | James Perse Enterprises, Inc. | First Lien Term Loan | SOFR(S) | Floor Rate 1.00% | Spread 6.25% | Total Coupon 11.38% | Maturity 9/8/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 1% | |||||
Spread | [2],[3],[9] | 6.25% | |||||
Total Coupon | [2],[3],[9] | 11.38% | |||||
Maturity | [2],[3],[9] | Sep. 08, 2027 | |||||
Principal | [2],[3],[9] | $ 9,862,348 | |||||
Cost | [2],[3],[9],[10] | 9,747,584 | |||||
Fair Value | [1],[2],[3],[9] | $ 9,912,646 | |||||
Investment, Identifier [Axis]: Debt Investments | Trading Companies & Distributors | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | [4],[5],[11] | 3,472,874 | |||||
Fair Value | [4],[5],[12] | $ 3,342,087 | |||||
Investment, Identifier [Axis]: Debt Investments | Trading Companies & Distributors | Blackbird Purchaser, Inc. (Ohio Transmission Corp.) | Second Lien Delayed Draw Term Loan | LIBOR(M) | Floor Rate 0.75% | Spread 7.50% | Total Coupon 11.88% | Maturity 4/8/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[14] | 0.75% | |||||
Spread | [4],[5],[14] | 7.50% | |||||
Total Coupon | [4],[5],[14] | 11.88% | |||||
Maturity | [4],[5],[14] | Apr. 08, 2027 | |||||
Principal | [4],[5] | $ 0 | |||||
Cost | [4],[5],[11],[14] | (7,181) | |||||
Fair Value | [4],[5],[12],[14] | $ (49,315) | |||||
Investment, Identifier [Axis]: Debt Investments | Trading Companies & Distributors | Blackbird Purchaser, Inc. (Ohio Transmission Corp.) | Second Lien Term Loan | LIBOR(M) | Floor Rate 0.75% | Spread 7.50% | Total Coupon 11.88% | Maturity 4/8/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5] | 0.75% | |||||
Spread | [4],[5] | 7.50% | |||||
Total Coupon | [4],[5] | 11.88% | |||||
Maturity | [4],[5] | Apr. 08, 2027 | |||||
Principal | [4],[5] | $ 3,539,347 | |||||
Cost | [4],[5],[11] | 3,480,055 | |||||
Fair Value | [4],[5],[12] | $ 3,391,402 | |||||
Investment, Identifier [Axis]: Debt Investments | Trading Companies & Distributors | Blackbird Purchaser, Inc. (Ohio Transmission Corp.) | Second Lien Term Loan | SOFR(M) | Floor Rate 0.75% | Spread 7.50% | Total Coupon 12.70% | Maturity 4/8/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9] | 0.75% | |||||
Spread | [2],[3],[9] | 7.50% | |||||
Total Coupon | [2],[3],[9] | 12.70% | |||||
Maturity | [2],[3],[9] | Apr. 08, 2027 | |||||
Principal | [2],[3],[9] | $ 3,539,347 | |||||
Cost | [2],[3],[9],[10] | 3,487,292 | |||||
Fair Value | [1],[2],[3],[9] | $ 3,451,925 | |||||
Investment, Identifier [Axis]: Debt Investments | Wireless Telecommunication Services | OpenMarket, Inc. (Infobip) (United Kingdom) | First Lien Term Loan | LIBOR(Q) | Floor Rate 0.75% | Spread 6.25% | Total Coupon 10.98% | Maturity 9/17/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [4],[5],[18],[19] | 0.75% | |||||
Spread | [4],[5],[18],[19] | 6.25% | |||||
Total Coupon | [4],[5],[18],[19] | 10.98% | |||||
Maturity | [4],[5],[18],[19] | Sep. 17, 2026 | |||||
Principal | [4],[5],[18],[19] | $ 4,937,500 | |||||
Cost | [4],[5],[11],[18],[19] | 4,841,489 | |||||
Fair Value | [4],[5],[12],[18],[19] | $ 4,781,475 | |||||
Investment, Identifier [Axis]: Debt Investments | Wireless Telecommunication Services | OpenMarket, Inc. (Infobip) (United Kingdom) | First Lien Term Loan | LIBOR(Q) | Floor Rate 0.75% | Spread 6.25% | Total Coupon 11.41% | Maturity 9/17/2026 | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, Floor | [2],[3],[9],[20],[21] | 0.75% | |||||
Spread | [2],[3],[9],[20],[21] | 6.25% | |||||
Total Coupon | [2],[3],[9],[20],[21] | 11.79% | |||||
Maturity | [2],[3],[9],[20],[21] | Sep. 17, 2026 | |||||
Principal | [2],[3],[9],[20],[21] | $ 4,912,500 | |||||
Cost | [2],[3],[9],[10],[20],[21] | 4,826,782 | |||||
Fair Value | [1],[2],[3],[9],[20],[21] | $ 4,840,286 | |||||
Investment, Identifier [Axis]: Equity Securities | |||||||
Schedule Of Investments [Line Items] | |||||||
Total Debt Investment | 1.20% | 3.20% | |||||
Cost | $ 59,187,489 | [2],[3],[10] | $ 59,765,957 | [4],[5] | |||
Fair Value | 3,931,932 | [1],[2],[3] | 10,223,080 | [4],[5] | |||
Investment, Identifier [Axis]: Equity Securities | Capital Markets | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | 1,862,881 | [2],[3],[10] | 1,862,881 | [4],[5] | |||
Fair Value | 36,007 | [1],[2],[3] | 38,478 | [4],[5] | |||
Investment, Identifier [Axis]: Equity Securities | Capital Markets | Marico Holdings, LLC | Limited Partnership/Limited Liability Company Interests | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | [4],[5] | 1,848,077 | |||||
Fair Value | [4],[5] | $ 0 | |||||
Shares | [4],[5] | 91,445 | |||||
Investment, Identifier [Axis]: Equity Securities | Capital Markets | Marsico Holdings, LLC | Limited Partnership/Limited Liability Company Interests | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | [2],[3],[10],[36],[37] | 1,848,077 | |||||
Fair Value | [1],[2],[3],[36],[37] | $ 0 | |||||
Shares | [2],[3],[36],[37] | 91,445 | |||||
Investment, Identifier [Axis]: Equity Securities | Capital Markets | Pico Quantitative Trading Holdings, LLC | Warrants to Purchase Membership Units | Expiration 2/7/2030 | |||||||
Schedule Of Investments [Line Items] | |||||||
Maturity | [2],[3],[36],[37] | Feb. 07, 2030 | |||||
Cost | [2],[3],[10],[36],[37] | $ 14,804 | |||||
Fair Value | [1],[2],[3],[36],[37] | $ 36,007 | |||||
Shares | [2],[3],[36],[37] | 162 | |||||
Investment, Identifier [Axis]: Equity Securities | Capital Markets | Pico Quantitative Trading Holdings, LLC | Warrants to Purchase Membership Units | Expiration 2/7/2030 | |||||||
Schedule Of Investments [Line Items] | |||||||
Maturity | [4],[5] | Feb. 07, 2030 | |||||
Cost | [4],[5] | $ 14,804 | |||||
Fair Value | [4],[5] | $ 38,478 | |||||
Shares | [4],[5] | 162 | |||||
Investment, Identifier [Axis]: Equity Securities | Chemicals | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | $ 1,139,598 | [2],[3],[10] | $ 1,139,597 | [4],[5] | |||
Fair Value | 0 | [1],[2],[3] | 0 | [4],[5] | |||
Investment, Identifier [Axis]: Equity Securities | Chemicals | AGY Equity, LLC | Class A Preferred Stock | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | 1,139,598 | [2],[3],[10],[36],[37],[38] | 1,139,597 | [4],[5] | |||
Fair Value | $ 0 | [1],[2],[3],[36],[37],[38] | $ 0 | [4],[5] | |||
Shares | 4,195,600 | [2],[3],[36],[37],[38] | 4,195,600 | [4],[5] | |||
Investment, Identifier [Axis]: Equity Securities | Chemicals | AGY Equity, LLC | Class B Preferred Stock | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | $ 0 | [2],[3],[10],[36],[37],[38] | $ 0 | [4],[5] | |||
Fair Value | $ 0 | [1],[2],[3],[36],[37],[38] | $ 0 | [4],[5],[33],[39] | |||
Shares | 2,936,920 | [2],[3],[36],[37],[38] | 2,936,920 | [4],[5] | |||
Investment, Identifier [Axis]: Equity Securities | Chemicals | AGY Equity, LLC | Class C Common Stock | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | $ 0 | [2],[3],[10],[36],[37],[38] | $ 0 | [4],[5] | |||
Fair Value | $ 0 | [1],[2],[3],[36],[37],[38] | $ 0 | [4],[5] | |||
Shares | 2,307,580 | [2],[3],[36],[37],[38] | 2,307,580 | [4],[5] | |||
Investment, Identifier [Axis]: Equity Securities | Diversified Consumer Services | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | $ 0 | [2],[3],[10] | $ 0 | [4],[5] | |||
Fair Value | $ 1,072,876 | [1],[2],[3] | $ 1,431,195 | [4],[5] | |||
Investment, Identifier [Axis]: Equity Securities | Diversified Consumer Services | Elevate Brands Holdco Inc. | Warrants to Purchase Common Stock | Expiration 3/14/2032 | |||||||
Schedule Of Investments [Line Items] | |||||||
Maturity | Mar. 14, 2032 | [2],[3],[36],[37] | Mar. 14, 2032 | [4],[5] | |||
Cost | $ 0 | [2],[3],[10],[36],[37] | $ 0 | [4],[5] | |||
Fair Value | $ 31,540 | [1],[2],[3],[36],[37] | $ 31,965 | [4],[5] | |||
Shares | 66,428 | [2],[3],[36],[37] | 66,428 | [4],[5] | |||
Investment, Identifier [Axis]: Equity Securities | Diversified Consumer Services | Elevate Brands Holdco Inc. | Warrants to Purchase Preferred Stock | Expiration 3/14/2032 | |||||||
Schedule Of Investments [Line Items] | |||||||
Maturity | Mar. 14, 2032 | [2],[3],[36],[37] | Mar. 14, 2032 | [4],[5] | |||
Cost | $ 0 | [2],[3],[10],[36],[37] | $ 0 | [4],[5] | |||
Fair Value | $ 25,402 | [1],[2],[3],[36],[37] | $ 25,645 | [4],[5] | |||
Shares | 33,214 | [2],[3],[36],[37] | 33,214 | [4],[5] | |||
Investment, Identifier [Axis]: Equity Securities | Diversified Consumer Services | MXP Prime Platform GmbH (SellerX) (Germany) | Warrants to Purchase Preferred Series B Shares | Expiration 11/23/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Maturity | Nov. 23, 2028 | [2],[3],[20],[21],[36],[37] | Nov. 23, 2028 | [4],[5] | |||
Cost | $ 0 | [2],[3],[10],[20],[21],[36],[37] | $ 0 | [4],[5] | |||
Fair Value | $ 104,656 | [1],[2],[3],[20],[21],[36],[37] | $ 97,941 | [4],[5] | |||
Shares | 48 | [2],[3],[20],[21],[36],[37] | 48 | [4],[5] | |||
Investment, Identifier [Axis]: Equity Securities | Diversified Consumer Services | PerchHQ LLC | Warrants to Purchase Common Stock | Expiration 10/15/2027 | |||||||
Schedule Of Investments [Line Items] | |||||||
Maturity | Oct. 15, 2027 | [2],[3],[36],[37],[40] | Oct. 15, 2027 | [4],[5] | |||
Cost | $ 0 | [2],[3],[10],[36],[37],[40] | $ 0 | [4],[5] | |||
Fair Value | $ 46,641 | [1],[2],[3],[36],[37],[40] | $ 252,226 | [4],[5] | |||
Shares | 45,283 | [2],[3],[36],[37],[40] | 45,283 | [4],[5] | |||
Investment, Identifier [Axis]: Equity Securities | Diversified Consumer Services | Razor Group GmbH (Germany) | Warrants to Purchase Preferred Series A1 Shares | Expiration 4/28/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Maturity | Apr. 28, 2028 | [2],[3],[20],[21],[36],[37] | Apr. 28, 2028 | [4],[5] | |||
Cost | $ 0 | [2],[3],[10],[20],[21],[36],[37] | $ 0 | [4],[5] | |||
Fair Value | $ 554,434 | [1],[2],[3],[20],[21],[36],[37] | $ 702,914 | [4],[5] | |||
Shares | 182 | [2],[3],[20],[21],[36],[37] | 182 | [4],[5] | |||
Investment, Identifier [Axis]: Equity Securities | Diversified Consumer Services | Razor Group GmbH (Germany) | Warrants to Purchase Series C Shares | Expiration 4/28/2028 | |||||||
Schedule Of Investments [Line Items] | |||||||
Maturity | Apr. 28, 2028 | [2],[3],[20],[21],[36],[37] | Apr. 28, 2028 | [4],[5] | |||
Cost | $ 0 | [2],[3],[10],[20],[21],[36],[37] | $ 0 | [4],[5] | |||
Fair Value | $ 310,203 | [1],[2],[3],[20],[21],[36],[37] | $ 320,504 | [4],[5] | |||
Shares | 55 | [2],[3],[20],[21],[36],[37] | 56 | [4],[5] | |||
Investment, Identifier [Axis]: Equity Securities | Diversified Financial Services | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | $ 47,236,233 | [2],[3],[10] | $ 47,236,233 | [4],[5] | |||
Fair Value | 86,131 | [1],[2],[3] | 187,336 | [4],[5] | |||
Investment, Identifier [Axis]: Equity Securities | Diversified Financial Services | Gordon Brothers Finance Company | Common Stock | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | 10,611,548 | [2],[3],[10],[29],[36] | 10,611,548 | [4],[5] | |||
Fair Value | $ 0 | [1],[2],[3],[36],[38] | $ 0 | [4],[5] | |||
Shares | 10,612 | [2],[3],[29],[36] | 10,612 | [4],[5] | |||
Investment, Identifier [Axis]: Equity Securities | Diversified Financial Services | Gordon Brothers Finance Company | Preferred Stock | Total Coupon 13.50% | |||||||
Schedule Of Investments [Line Items] | |||||||
Total Coupon | 13.50% | [2],[3],[27],[29],[36] | 13.50% | [4],[5] | |||
Cost | $ 36,624,685 | [2],[3],[10],[27],[29],[36] | $ 36,624,685 | [4],[5] | |||
Fair Value | $ 0 | [1],[2],[3],[27],[36],[38] | $ 0 | [4],[5] | |||
Shares | 34,285 | [2],[3],[27],[29],[36] | 34,285 | [4],[5] | |||
Investment, Identifier [Axis]: Equity Securities | Diversified Financial Services | Worldremit Group Limited (United Kingdom) | Warrants to Purchase Series D Stock | Expiration 2/11/2031 | |||||||
Schedule Of Investments [Line Items] | |||||||
Maturity | Feb. 11, 2031 | [2],[3],[20],[21],[36],[37] | Feb. 11, 2031 | [4],[5] | |||
Cost | $ 0 | [2],[3],[10],[20],[21],[36],[37] | $ 0 | [4],[5] | |||
Fair Value | $ 85,201 | [1],[2],[3],[20],[21],[36],[37] | $ 183,658 | [4],[5] | |||
Shares | 7,662 | [2],[3],[20],[21],[36],[37] | 7,662 | [4],[5] | |||
Investment, Identifier [Axis]: Equity Securities | Diversified Financial Services | Worldremit Group Limited (United Kingdom) | Warrants to Purchase Series E Stock | Expiration 8/27/2031 | |||||||
Schedule Of Investments [Line Items] | |||||||
Maturity | Aug. 27, 2031 | [2],[3],[20],[21],[36],[37] | Aug. 27, 2031 | [4],[5] | |||
Cost | $ 0 | [2],[3],[10],[20],[21],[36],[37] | $ 0 | [4],[5] | |||
Fair Value | $ 930 | [1],[2],[3],[20],[21],[36],[37] | $ 3,678 | [4],[5] | |||
Shares | 508 | [2],[3],[20],[21],[36],[37] | 508 | [4],[5] | |||
Investment, Identifier [Axis]: Equity Securities | Household Durables Stitch Holdings, L.P. | Limited Partnership/Limited Liability Company Interests | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | [2],[3],[10],[36],[37] | $ 5,909,910 | |||||
Fair Value | [1],[2],[3],[36],[37] | $ 0 | |||||
Shares | [2],[3],[36],[37] | 5,910 | |||||
Investment, Identifier [Axis]: Equity Securities | Household Durables | Stitch Holdings, L.P. | Limited Partnership/Limited Liability Company Interests | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | [4],[5] | $ 5,909,910 | |||||
Fair Value | [4],[5] | $ 4,373,400 | |||||
Shares | [4],[5] | 5,910 | |||||
Investment, Identifier [Axis]: Equity Securities | Internet Software & Services | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | [2],[3],[10] | $ 100,544 | |||||
Fair Value | [1],[2],[3] | $ 273,000 | |||||
Investment, Identifier [Axis]: Equity Securities | Internet Software & Services | FinancialForce.com, Inc. | Warrants to Purchase Series C Preferred Stock | Expiration 1/30/2029 | |||||||
Schedule Of Investments [Line Items] | |||||||
Maturity | Jan. 30, 2029 | [3],[36],[37] | Jan. 30, 2029 | [4],[5] | |||
Cost | $ 100,544 | [3],[10],[36],[37] | $ 100,544 | [4],[5] | |||
Fair Value | $ 273,000 | [1],[3],[36],[37] | $ 211,350 | [4],[5] | |||
Shares | 450,000 | [3],[36],[37] | 450,000 | [4],[5] | |||
Investment, Identifier [Axis]: Equity Securities | Internet Software & Services | SuCo Investors, LP (Suited Connector) | Warrants to Purchase Class A Units | Expiration 3/6/2033 | |||||||
Schedule Of Investments [Line Items] | |||||||
Maturity | [2],[3],[36],[37] | Mar. 06, 2033 | |||||
Cost | [2],[3],[10],[36],[37] | $ 0 | |||||
Fair Value | [1],[2],[3],[36],[37] | $ 0 | |||||
Shares | [2],[3],[36],[37] | 1,652 | |||||
Investment, Identifier [Axis]: Equity Securities | Media | MBS Parent, LLC | Limited Partnership/Limited Liability Company Interests | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | $ 0 | [2],[3],[10],[36],[41] | $ 0 | [4],[5] | |||
Fair Value | $ 49,500 | [1],[2],[3],[36],[41] | $ 0 | [4],[5] | |||
Shares | 546 | [2],[3],[36],[41] | 546 | [4],[5] | |||
Investment, Identifier [Axis]: Equity Securities | Metals & Mining | Kemmerer Holdings, LLC (WMLP) | Limited Partnership/Limited Liability Company Interests | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | [4],[5] | $ 753,851 | |||||
Fair Value | [4],[5] | $ 1,618,248 | |||||
Shares | [4],[5] | 8 | |||||
Investment, Identifier [Axis]: Equity Securities | Oil, Gas & Consumable Fuels | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | $ 0 | [2],[3],[10] | $ 0 | [4],[5] | |||
Fair Value | 0 | [1],[2],[3] | 0 | [4],[5] | |||
Investment, Identifier [Axis]: Equity Securities | Oil, Gas & Consumable Fuels | TER Management Resources, LLC (fka ETX Energy Management Company, LLC) | Limited Partnership/Limited Liability Company Interests | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | 0 | [2],[3],[10],[36] | 0 | [4],[5] | |||
Fair Value | $ 0 | [1],[2],[3],[36] | $ 0 | [4],[5] | |||
Shares | 53,815 | [2],[3],[36] | 53,815 | [4],[5] | |||
Investment, Identifier [Axis]: Equity Securities | Oil, Gas & Consumable Fuels | Trailblazer Energy Resources, LLC (fka ETX Energy, LLC) | Limited Partnership/Limited Liability Company Interests | |||||||
Schedule Of Investments [Line Items] | |||||||
Cost | $ 0 | [2],[3],[10],[36],[40] | $ 0 | [4],[5] | |||
Fair Value | $ 0 | [1],[2],[3],[36],[40] | $ 0 | [4],[5] | |||
Shares | 51,119 | [2],[3],[36],[40] | 51,119 | [4],[5] | |||
Investment, Identifier [Axis]: Equity Securities | Software | Grey Orange International Inc. | Warrants to Purchase Common Stock | Expiration 5/6/2032 | |||||||
Schedule Of Investments [Line Items] | |||||||
Maturity | May 06, 2032 | [2],[3],[36],[37] | May 06, 2032 | [4],[5] | |||
Cost | $ 0 | [2],[3],[10],[36],[37] | $ 0 | [4],[5] | |||
Fair Value | $ 14,302 | [1],[2],[3],[36],[37] | $ 8,849 | [4],[5] | |||
Shares | 2,832 | [2],[3],[36],[37] | 2,087 | [4],[5] | |||
Investment, Identifier [Axis]: Equity Securities | Trading Companies & Distributors | Blackbird Holdco, Inc. (Ohio Transmission Corp.) | Preferred Stock | Total Coupon 12.50% PIK | |||||||
Schedule Of Investments [Line Items] | |||||||
Interest Rate, PIK | 12.50% | [2],[3],[17],[37] | 12.50% | [4],[5] | |||
Cost | $ 2,938,323 | [2],[3],[10],[17],[37] | $ 2,762,941 | [4],[5] | |||
Fair Value | $ 2,400,116 | [1],[2],[3],[17],[37] | $ 2,354,224 | [4],[5] | |||
Shares | 2,478 | [2],[3],[17],[37] | 2,478 | [4],[5] | |||
Investment, Identifier [Axis]: Interest Rate Swap | Company Receives Fixed 2.633% | Company Pays Floating 1 Day SOFR | Counterparty CME | Maturity Date 6/9/2025 | Payment Frequency Annual | |||||||
Schedule Of Investments [Line Items] | |||||||
Fixed interest rate | 2.633% | [42] | 2.633% | [43] | |||
Company Pays Floating | 1 Day SOFR | [42] | 1 Day SOFR | [43] | |||
Counterparty | CME | [42] | CME | [43] | |||
Maturity date | Jun. 09, 2025 | [42] | Jun. 09, 2025 | [43] | |||
Payment Frequency | Annual | [42] | Annual | [43] | |||
Notional amount | $ 35,000,000 | [42] | $ 35,000,000 | [43] | |||
Fair value | $ (1,445,045) | [42] | $ (1,332,299) | [43] | |||
Investment, Identifier [Axis]: Investments | |||||||
Schedule Of Investments [Line Items] | |||||||
Total Debt Investment | 189.70% | 179.10% | |||||
Cost | $ 690,597,257 | [2],[3],[10] | $ 658,300,164 | [4],[5] | |||
Fair Value | $ 595,837,411 | [1],[2],[3] | $ 570,489,084 | [4],[5] | |||
Investment, Identifier [Axis]: Non Controlled Affiliated Investments | |||||||
Schedule Of Investments [Line Items] | |||||||
Total Debt Investment | 0% | 1.10% | |||||
Investment, Identifier [Axis]: Non-Controlled Affiliate Security | |||||||
Schedule Of Investments [Line Items] | |||||||
Fair Value | $ 0 | [8] | $ 3,574,438 | [8] | 4,131,978 | [44] | |
Investment, Identifier [Axis]: Non-Controlled Affiliate Security | AGY Equity, LLC | Class A Preferred Stock | |||||||
Schedule Of Investments [Line Items] | |||||||
Fair Value | 0 | [8] | 0 | [8] | 251,736 | [44] | |
Investment, Identifier [Axis]: Non-Controlled Affiliate Security | AGY Equity, LLC | Class B Preferred Stock | |||||||
Schedule Of Investments [Line Items] | |||||||
Fair Value | 0 | [8] | 0 | [8] | 0 | [44] | |
Investment, Identifier [Axis]: Non-Controlled Affiliate Security | AGY Equity, LLC | Class C Common Stock | |||||||
Schedule Of Investments [Line Items] | |||||||
Fair Value | 0 | [8] | 0 | [8] | 0 | [44] | |
Investment, Identifier [Axis]: Non-Controlled Affiliate Security | Kemmerer Holdings, LLC (WMLP) | Limited Liability Co. Interest | |||||||
Schedule Of Investments [Line Items] | |||||||
Fair Value | 0 | [8],[45] | 1,618,248 | [7],[8],[45] | 746,074 | [44] | |
Investment, Identifier [Axis]: Non-Controlled Affiliate Security | Kemmerer Operations, LLC (WMLP) | Delayed Draw Term Loan, First Lien | |||||||
Schedule Of Investments [Line Items] | |||||||
Fair Value | 0 | [8],[45] | 0 | [8],[45] | 42,550 | [44] | |
Investment, Identifier [Axis]: Non-Controlled Affiliate Security | Kemmerer Operations, LLC (WMLP) | Senior Secured Loan, First Lien | |||||||
Schedule Of Investments [Line Items] | |||||||
Fair Value | $ 0 | [8],[45] | $ 1,956,190 | [8],[45] | $ 3,091,618 | [44] | |
[1] Pursuant to Rule 2a-5 under the Investment Company Act of 1940 (the "1940 Act"), the Company's Board of Directors designated the Advisor as the valuation designee to perform certain fair value functions, including performing fair value determinations. See Note 2 for further details. The Company generally uses Global Industry Classification Standard (“GICS”) codes to identify the industry groupings. This information is unaudited. Unless otherwise indicated, all investments are considered Level 3 in accordance with ASC Topic 820 (see Note 2). As of December 31, 2022, the Company generally uses Global Industry Classification Standard (“GICS”) codes to identify the industry groupings. This information is unaudited. Unless otherwise indicated, all investments are considered Level 3 in accordance with ASC Topic 820 (see Note 2). The issuers of securities listed on this schedule are considered controlled affiliates under the 1940 Act due to the ownership by the Company of more than 25% of the issuers’ voting securities. The issuers of the securities listed on this schedule are considered controlled affiliates under the 1940 Act due to the ownership by the Company of more than 25% of the issuers’ voting securities. (2) Amounts reported above are for the year ended December 31, 2022. Dividends and interest income also includes fee income as applicable. The issuers of the securities listed on this schedule are considered non-controlled, affiliated investments under the 1940 Act due to the ownership by the Company of 5% to 25% of the issuers’ voting securities. Approximately 99.5 % of the fair value of total senior secured loans in the Company’s portfolio bear interest at a floating rate that may be determined by reference to the London Interbank Offered Rate (“LIBOR”), “L”, Secured Overnight Financing Rate (“SOFR”), “S”, or other base rate (commonly the Federal Funds Rate or the Prime Rate), “P”, at the borrower’s option. In addition, 94.3 % of the fair value of such senior secured loans have floors of 0.50 % to 2.00 %. The borrower under a senior secured loan generally has the option to select from interest reset periods of one, two, three or six months and may alter that selection at the end of any reset period. The stated interest rate represents the weighted average interest rate at June 30, 2023 of all contracts within the specified loan facility. LIBOR and SOFR reset monthly (M), quarterly (Q) or semiannually (S). Represents amortized cost for fixed income securities and cost for preferred and common stock, limited partnership/limited liability company interests and equity warrants/options. Represents amortized cost for fixed income securities and cost for preferred and common stock, limited partnership/limited liability company interests and equity warrants/options. Pursuant to Rule 2a-5 under the Investment Company Act of 1940 (the "1940 Act"), the Company's Board of Directors designated the Advisor as the valuation designee to perform certain fair value functions, including performing fair value determinations. See Note 2 for further details. Approximately 99.2 % of the fair value of total senior secured loans in the Company’s portfolio bear interest at a floating rate that may be determined by reference to the London Interbank Offered Rate (“LIBOR”), “L”, Secured Overnight Financing Rate (“SOFR”), “S”, or other base rate (commonly the Federal Funds Rate or the Prime Rate), “P”, at the borrower’s option. In addition, 94.2 % of the fair value of such senior secured loans have floors of 0.50 % to 1.80 %. The borrower under a senior secured loan generally has the option to select from interest reset periods of one, two, three or six months and may alter that selection at the end of any reset period. The stated interest rate represents the weighted average interest rate at December 31, 2022 of all contracts within the specified loan facility. LIBOR and SOFR reset monthly (M), quarterly (Q) or semiannually (S). Position or associated portfolio company thereof has an unfunded commitment as of December 31, 2022 (see Note 9). Note that there may be additional unfunded positions which do not have a funded component at period end, and therefore are not displayed herein. Any negative balances represent unfunded commitments that were acquired and/or valued at a discount. Position or associated portfolio company thereof has an unfunded commitment as of June 30, 2023 (see Note 9). Any negative balances represent unfunded commitments that were acquired and/or valued at a discount. Portions of the loan bear interest using a combination of LIBOR, SOFR and/or at the Prime rate. The total coupon represents the weighted average interest rate at June 30, 2023 of all contracts within the loan facility. Interest may be paid in cash or payment-in-kind (“PIK”), or a combination thereof which is generally at the option of the borrower. PIK earned is included in the cost basis of the security. In accordance with the Company’s policy, PIK is recorded on an effective interest method. Investments that the Company has determined are not “qualifying assets” under Section 55(a) of the 1940 Act. Under the 1940 Act, we may not acquire any non-qualifying asset unless, at the time such acquisition is made, qualifying assets represent at least 70% of our total assets. The status of these assets under the 1940 Act may be subject to change. The Company monitors the status of these assets on an ongoing basis. As of December 31, 2022, approximately 15.0 % of the total assets of the Company were not qualifying assets under Section 55(a) of the 1940 Act. Non-U.S. company or principal place of business outside the U.S. Investments that the Company has determined are not “qualifying assets” under Section 55(a) of the 1940 Act. Under the 1940 Act, we may not acquire any non-qualifying asset unless, at the time such acquisition is made, qualifying assets represent at least 70% of our total assets. The status of these assets under the 1940 Act may be subject to change. The Company monitors the status of these assets on an ongoing basis. As of June 30, 2023 , approximately 15.8 % of the total assets of the Company were not qualifying assets under Section 55(a) of the 1940 Act. Non-U.S. company or principal place of business outside the U.S. Interest may be paid in cash or payment-in-kind (“PIK”), or a combination thereof which is generally at the option of the borrower. PIK earned is included in the cost basis of the security. In accordance with the Company’s policy, PIK is recorded on an effective interest method. Investments are considered other than Level 3 in accordance with ASC Topic 820 (see Note 2). Investments are considered other than Level 3 in accordance with ASC Topic 820 (see Note 2). This investment will have a first lien security interest after the senior tranches are repaid. This investment will have a first lien security interest after the senior tranches are repaid. The investment is on non-accrual status as of June 30, 2023 and therefore non-income producing. At June 30, 2023, the aggregate fair value and amortized cost of the Company’s debt and preferred stock investments on non-accrual status represents 2.5 % and 11.0 % of the Company's debt and preferred stock investments at fair value and amortized cost, respectively. Total coupon includes default interest of 2.00 %. Transaction and other information for “controlled” investments under the 1940 Act, whereby the Company owns more than 25% of the portfolio company’s outstanding voting securities, is presented in a separate table of the Consolidated Schedules of Investments. The investment is on non-accrual status as of December 31, 2022 and therefore non-income producing. At December 31, 2022, the aggregate fair value and amortized cost of the Company’s debt and preferred stock investments on non-accrual status represents 2.8 % and 11.8 % of the Company's debt and preferred stock investments at fair value and amortized cost, respectively. Total coupon includes default interest of 2.00 %. Transaction and other information for “controlled” investments under the 1940 Act, whereby the Company owns more than 25% of the portfolio company’s outstanding voting securities, is presented in a separate table of the Consolidated Schedules of Investments. Securities are either exempt from registration under Rule 144A of the Securities Act, or sale of the security is subject to certain contractual restrictions. Securities that are exempt from registration under 144A may be resold in transactions, normally to qualified institutional buyers. In aggregate, these securities represent 2.9 % of the Company’s net assets at December 31, 2022. The acquisition dates for restricted securities of unaffiliated issuers were as follows as of December 31, 2022: Investment Initial Acquisition Date Marsico Holdings, LLC, Limited Partnership/Limited Liability Company Interests 11/28/2007 FinancialForce.com, Warrants to Purchase Series C Preferred Stock 1/30/2019 Pico Quantitative Trading Holdings, LLC, Warrants to Purchase Membership Units 2/7/2020 Worldremit Group Limited (United Kingdom), Warrants to Purchase Series D Stock 2/11/2021 Advanced Lighting Technologies, LLC, Senior Secured Notes 3/16/2021 Razor Group GmbH (Germany), Warrants to Purchase Preferred Series A1 Shares 4/28/2021 Stitch Holdings, L.P., Limited Partnership Interests 7/30/2021 Worldremit Group Limited (United Kingdom), Warrants to Purchase Series E Stock 8/27/2021 MXP Prime Platform GmbH (SellerX) (Germany), Warrants to Purchase Preferred Series B Shares 11/23/2021 Blackbird Holdco, Inc. (Ohio Transmission Corp.), Preferred Stock 12/14/2021 Elevate Brands Holdco Inc., Warrants to Purchase Common Stock 3/14/2022 Elevate Brands Holdco Inc., Warrants to Purchase Preferred Stock 3/14/2022 Grey Orange International Inc., Warrants to Purchase Common Stock 5/6/2022 PerchHQ LLC, Warrants to Purchase Common Stock 9/30/2022 Razor Group GmbH (Germany), Warrants to Purchase Series C Shares 12/23/2022 Portions of the loan bear interest using a combination of LIBOR, SOFR, and/or the Prime rate. The total coupon represents the weighted average interest rate at December 31, 2022 of all contracts within the loan facility. Amounts reported above are for the six months ended June 30, 2023 . Dividends and interest income also includes fee income as applicable. Non-income producing equity securities at June 30, 2023 . Security is either exempt from registration under Rule 144A of the Securities Act of 1933 (the “Securities Act”), or sale of the security is subject to certain contractual restrictions. Securities that are exempt from registration under 144A may be resold in transactions, normally to qualified institutional buyers. In aggregate, these securities represent 1.2 % of the Company’s net assets at June 30, 2023. The acquisition dates for restricted securities of unaffiliated issuers were as follows as of June 30, 2023: Investment Initial Acquisition Date Marsico Holdings, LLC, Limited Partnership/Limited Liability Company Interests 11/28/2007 FinancialForce.com, Warrants to Purchase Series C Preferred Stock 1/30/2019 Pico Quantitative Trading Holdings, LLC, Warrants to Purchase Membership Units 2/7/2020 Worldremit Group Limited (United Kingdom), Warrants to Purchase Series D Stock 2/11/2021 Razor Group GmbH (Germany), Warrants to Purchase Preferred Series A1 Shares 4/28/2021 Stitch Holdings, L.P., Limited Partnership Interests 7/30/2021 Worldremit Group Limited (United Kingdom), Warrants to Purchase Series E Stock 8/27/2021 MXP Prime Platform GmbH (SellerX) (Germany), Warrants to Purchase Preferred Series B Shares 11/23/2021 Blackbird Holdco, Inc. (Ohio Transmission Corp.), Preferred Stock 12/14/2021 Elevate Brands Holdco Inc., Warrants to Purchase Common Stock 3/14/2022 Elevate Brands Holdco Inc., Warrants to Purchase Preferred Stock 3/14/2022 Grey Orange International Inc., Warrants to Purchase Common Stock 5/6/2022 PerchHQ LLC, Warrants to Purchase Common Stock 9/30/2022 Razor Group GmbH (Germany), Warrants to Purchase Series C Shares 12/23/2022 SuCo Investors, LP (Suited Connector), Warrants to Purchase Class A Units 3/6/2023 Transaction and other information for “non-controlled, affiliated” investments under the 1940 Act, whereby the Company owns 5% or more (but not more than 25%) of the portfolio company’s outstanding voting securities, is presented in a separate table of the Consolidated Schedules of Investments. Non-income producing equity securities at December 31, 2022 . The Company is the sole stockholder of BKC ASW Blocker, Inc., a consolidated subsidiary, which is the beneficiary of less than 5% of the voting securities of Trailblazer Energy Resources, LLC (fka ETX Energy, LLC) and PerchHQ LLC and thus non-controlled, non-affiliated investments. The Company is the sole stockholder of BCIC-MBS, LLC, a consolidated subsidiary, which is the beneficiary of less than 5% of the voting securities of MBS Parent, LLC and thus a non-controlled, non-affiliated investment. Refer to Notes 2 and 4 for additional information on the Company’s Interest Rate Swap. Refer to Notes 2 and 4 for additional information on the Company’s Interest Rate Swap. The issuers of the securities listed on this schedule are considered non-controlled, affiliated investments under the 1940 Act due to the ownership by the Company of 5% to 25% of the issuers’ voting securities. Investment no longer held as of June 30, 2023 . |
Consolidated Schedules of Inv_2
Consolidated Schedules of Investments (Unaudited) (Parenthetical) | Jun. 30, 2023 | Dec. 31, 2022 |
Investment, Identifier [Axis]: Cash and Cash Equivalents | ||
Schedule of Investments [Line Items] | ||
Percentage of aggregate fair value of net assets | 4% | 3% |
Investment, Identifier [Axis]: Cash and Investments | ||
Schedule of Investments [Line Items] | ||
Percentage of aggregate fair value of net assets | 193.70% | 182.10% |
Investment, Identifier [Axis]: Controlled Affiliated Investments | ||
Schedule of Investments [Line Items] | ||
Percentage of aggregate fair value of net assets | 4.80% | 4.80% |
Investment, Identifier [Axis]: Debt Investments | ||
Schedule of Investments [Line Items] | ||
Percentage of aggregate fair value of net assets | 188.50% | 175.90% |
Investment, Identifier [Axis]: Debt Investments Capital Markets Pico Quantitative Trading, LLC First Lien Term Loan (1.0% Exit Fee) Quarterly SOFR Floor Rate 1.5% and Spread 7.25% with Total Coupon 11.98% Maturity 2/7/2025 | ||
Schedule of Investments [Line Items] | ||
Investment instrument exit fee percentage | 1% | |
Investment, Identifier [Axis]: Debt Investments | Capital Markets | Pico Quantitative Trading, LLC | First Lien Term Loan (1.0% Exit Fee) | Quarterly SOFR | Floor Rate 1.5% | Spread 7.25% | Total Coupon 12.75% | Maturity 2/7/2025 | ||
Schedule of Investments [Line Items] | ||
Investment instrument exit fee percentage | 1% | |
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Worldremit Group Limited (United Kingdom) | First Lien Term Loan (3.0% Exit Fee) | LIBOR(Q) | Floor Rate 1.00% | Spread 9.25% | Total Coupon 13.91% | Maturity 2/11/2025 | ||
Schedule of Investments [Line Items] | ||
Investment instrument exit fee percentage | 3% | |
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Worldremit Group Limited (United Kingdom) | First Lien Term Loan (3.0% Exit Fee) | Quarterly/Monthly SOFR | Floor Rate 1.00% | Spread 9.25% | Total Coupon 14.65% | Maturity 2/11/2025 | ||
Schedule of Investments [Line Items] | ||
Investment instrument exit fee percentage | 3% | |
Investment, Identifier [Axis]: Debt Investments | Health Care Providers & Services | INH Buyer, Inc. (IMS Health) | First Lien Term Loan (1.5% Exit Fee) | SOFR(Q) | Floor Rate 1.00% | Spread 3.50% Cash + 3.50% PIK | Total Coupon 11.68% | Maturity 6/28/2028 | ||
Schedule of Investments [Line Items] | ||
Investment instrument exit fee percentage | 1.50% | |
Investment, Identifier [Axis]: Debt Investments | Health Care Providers & Services | INH Buyer, Inc. (IMS Health) | First Lien Term Loan (1.5% Exit Fee) | SOFR(Q) | Floor Rate 1.00% | Spread 3.50% Cash + 3.50% PIK | Total Coupon 12.34% | Maturity 6/28/2028 | ||
Schedule of Investments [Line Items] | ||
Investment instrument exit fee percentage | 1.50% | |
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Persado, Inc. | First Lien Delayed Draw Term Loan (6.575% Exit Fee) | SOFR(M) | Floor Rate 1.80% | Spread 7.00% | Total Coupon 11.12% | Maturity 6/10/2027 | ||
Schedule of Investments [Line Items] | ||
Investment instrument exit fee percentage | 6.575% | |
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Persado, Inc. | First Lien Delayed Draw Term Loan (6.575% Exit Fee) | SOFR(M) | Floor Rate 1.80% | Spread 7.50% | Total Coupon 12.66% | Maturity 6/10/2027 | ||
Schedule of Investments [Line Items] | ||
Investment instrument exit fee percentage | 6.575% | |
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Persado, Inc. | First Lien Term Loan (6.575% Exit Fee) | SOFR(M) | Floor Rate 1.80% | Spread 7.00% | Total Coupon 11.12% | Maturity 6/10/2027 | ||
Schedule of Investments [Line Items] | ||
Investment instrument exit fee percentage | 6.575% | |
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Persado, Inc. | First Lien Term Loan (6.575% Exit Fee) | SOFR(M) | Floor Rate 1.80% | Spread 7.50% | Total Coupon 12.66% | Maturity 6/10/2027 | ||
Schedule of Investments [Line Items] | ||
Investment instrument exit fee percentage | 6.575% | |
Investment, Identifier [Axis]: Debt Investments | Professional Services | JobandTalent USA, Inc. (United Kingdom) | First Lien Delayed Draw Term Loan (3.0% Exit Fee) | SOFR | Floor Rate 1.00% | Spread 8.75 % | Total Coupon 13.19% | Maturity 2/17/2025 | ||
Schedule of Investments [Line Items] | ||
Investment instrument exit fee percentage | 3% | |
Investment, Identifier [Axis]: Debt Investments | Professional Services | JobandTalent USA, Inc. (United Kingdom) | First Lien Delayed Draw Term Loan (3.0% Exit Fee) | SOFR(M) | Floor Rate 1.00% | Spread 8.75% | Total Coupon 13.96% | Maturity 2/17/2025 | ||
Schedule of Investments [Line Items] | ||
Investment instrument exit fee percentage | 3% | |
Investment, Identifier [Axis]: Debt Investments | Professional Services | JobandTalent USA, Inc. (United Kingdom) | First Lien Term Loan (3.0% Exit Fee) | SOFR(M) | Floor Rate 1.00% | Spread 8.75 % | Total Coupon 13.19% | Maturity 2/17/2025 | ||
Schedule of Investments [Line Items] | ||
Investment instrument exit fee percentage | 3% | |
Investment, Identifier [Axis]: Debt Investments | Professional Services | JobandTalent USA, Inc. (United Kingdom) | First Lien Term Loan (3.0% Exit Fee) | SOFR(M) | Floor Rate 1.00% | Spread 8.75% | Total Coupon 13.96% | Maturity 2/17/2025 | ||
Schedule of Investments [Line Items] | ||
Investment instrument exit fee percentage | 3% | |
Investment, Identifier [Axis]: Debt Investments | Professional Services | RigUp, Inc. | First Lien Delayed Draw Term Loan (4.0% Exit Fee) | LIBOR(M) | Floor Rate 1.50% | Spread 7.00% | Total Coupon 11.81% | Maturity 3/1/2024 | ||
Schedule of Investments [Line Items] | ||
Investment instrument exit fee percentage | 4% | |
Investment, Identifier [Axis]: Debt Investments | Software | Aerospike, Inc. | First Lien Delayed Draw Term Loan (0.50% Exit Fee) | SOFR(M) | Floor Rate 1.00% | Spread 7.50% | Total Coupon 12.72% | Maturity 12/29/2025 | ||
Schedule of Investments [Line Items] | ||
Investment instrument exit fee percentage | 0.50% | |
Investment, Identifier [Axis]: Debt Investments | Software | Aerospike, Inc. | First Lien Term Loan (0.50% Exit Fee) | SOFR(M) | Floor Rate 1.00% | Spread 7.50% | Total Coupon 12.72% | Maturity 12/29/2025 | ||
Schedule of Investments [Line Items] | ||
Investment instrument exit fee percentage | 0.50% | |
Investment, Identifier [Axis]: Debt Investments | Software | Grey Orange Incorporated | First Lien Delayed Draw Term Loan (3.75% Exit Fee) | SOFR(Q) | Floor Rate 1.00% | Spread 7.25% | Total Coupon 11.55% | Maturity 5/6/2026 | ||
Schedule of Investments [Line Items] | ||
Investment instrument exit fee percentage | 3.75% | |
Investment, Identifier [Axis]: Debt Investments | Software | Grey Orange Incorporated | First Lien Delayed Draw Term Loan (3.75% Exit Fee) | SOFR(Q)/(S) | Floor Rate 1.00% | Spread 7.25% | Total Coupon 12.58% | Maturity 5/6/2026 | ||
Schedule of Investments [Line Items] | ||
Investment instrument exit fee percentage | 3.75% | |
Investment, Identifier [Axis]: Debt Investments | Software | Grey Orange Incorporated | First Lien Term Loan (3.75% Exit Fee) | SOFR(Q) | Floor Rate 1.00% | Spread 7.25% | Total Coupon 12.23% | Maturity 5/6/2026 | ||
Schedule of Investments [Line Items] | ||
Investment instrument exit fee percentage | 3.75% | |
Investment, Identifier [Axis]: Debt Investments | Software | Grey Orange Incorporated | First Lien Term Loan (3.75% Exit Fee) | SOFR(Q) | Floor Rate 1.00% | Spread 7.25% | Total Coupon 12.58% | Maturity 5/6/2026 | ||
Schedule of Investments [Line Items] | ||
Investment instrument exit fee percentage | 3.75% | |
Investment, Identifier [Axis]: Debt Securities | ||
Schedule of Investments [Line Items] | ||
Percentage of investments in Non-accrual status at fair value | 2.50% | 2.80% |
Percentage of investments in Non-accrual status at cost | 11% | 11.80% |
Investment, Identifier [Axis]: Equity Securities | ||
Schedule of Investments [Line Items] | ||
Percentage of aggregate fair value of net assets | 1.20% | 3.20% |
Investment, Identifier [Axis]: Investments | ||
Schedule of Investments [Line Items] | ||
Percentage of aggregate fair value of net assets | 189.70% | 179.10% |
Investment, Identifier [Axis]: Non Controlled Affiliated Investments | ||
Schedule of Investments [Line Items] | ||
Percentage of aggregate fair value of net assets | 0% | 1.10% |
Investment, Identifier [Axis]: Preferred Stock | ||
Schedule of Investments [Line Items] | ||
Percentage of investments in Non-accrual status at fair value | 2.50% | 2.80% |
Percentage of investments in Non-accrual status at cost | 11% | 11.80% |
Investment, Identifier [Axis]: Restricted Securities | ||
Schedule of Investments [Line Items] | ||
Investment companies owns percentage of net assets | 1.20% | 2.90% |
Consolidated Schedules of Inv_3
Consolidated Schedules of Investments (Unaudited) (Parenthetical1) | Jun. 30, 2023 | Dec. 31, 2022 |
Schedule Of Investments [Line Items] | ||
Percentage of not qualifying assets to total assets | 15.80% | 15% |
Percentage of default interest | 2% | 2% |
Total Senior Secured Loans | ||
Schedule Of Investments [Line Items] | ||
Percentage of fair value of loans bear interest with floor rate | 94.30% | 94.20% |
Total Senior Secured Loans | Floating Rate | ||
Schedule Of Investments [Line Items] | ||
Percentage of fair value of loans bear interest at floor rate | 99.50% | 99.20% |
Minimum | Total Senior Secured Loans | Floor Rate | ||
Schedule Of Investments [Line Items] | ||
Interest rate, floor | 0.50% | 0.50% |
Maximum | Total Senior Secured Loans | Floor Rate | ||
Schedule Of Investments [Line Items] | ||
Interest rate, floor | 2% | 1.80% |
Consolidated Schedules of Inv_4
Consolidated Schedules of Investments (Initial Acquisition Date) (Unaudited) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Investment, Identifier [Axis]: Investment Advanced Lighting Technologies, LLC | Senior Secured Notes | Initial Acquisition Date 3/16/2021 | ||
Schedule of Investments [Line Items] | ||
Investment, Acquisition Date | Mar. 16, 2021 | |
Investment, Identifier [Axis]: Investment Blackbird Holdco, Inc. (Ohio Transmission Corp.) | Preferred Stock | Initial Acquisition Date 12/14/2021 | ||
Schedule of Investments [Line Items] | ||
Investment, Acquisition Date | Dec. 14, 2021 | |
Investment, Identifier [Axis]: Investment Elevate Brands Holdco Inc. | Warrants to Purchase Common Stock | Initial Acquisition Date 3/14/2022 | ||
Schedule of Investments [Line Items] | ||
Investment, Acquisition Date | Mar. 14, 2022 | |
Investment, Identifier [Axis]: Investment Elevate Brands Holdco Inc. | Warrants to Purchase Preferred Stock | Initial Acquisition Date 3/14/2022 | ||
Schedule of Investments [Line Items] | ||
Investment, Acquisition Date | Mar. 14, 2022 | |
Investment, Identifier [Axis]: Investment FinancialForce.com | Warrants to Purchase Series C Preferred Stock | Initial Acquisition Date 1/30/2019 | ||
Schedule of Investments [Line Items] | ||
Investment, Acquisition Date | Jan. 30, 2019 | |
Investment, Identifier [Axis]: Investment Grey Orange International Inc. | Warrants to Purchase Common Stock | Initial Acquisition Date 5/6/2022 | ||
Schedule of Investments [Line Items] | ||
Investment, Acquisition Date | May 06, 2022 | |
Investment, Identifier [Axis]: Investment MXP Prime Platform GmbH (SellerX) (Germany) | Warrants to Purchase Preferred Series B Shares | Initial Acquisition Date 11/23/2021 | ||
Schedule of Investments [Line Items] | ||
Investment, Acquisition Date | Nov. 23, 2021 | |
Investment, Identifier [Axis]: Investment Marsico Holdings, LLC | Limited Partnership/Limited Liability Company Interests | Initial Acquisition Date 11/28/2007 | ||
Schedule of Investments [Line Items] | ||
Investment, Acquisition Date | Nov. 28, 2007 | |
Investment, Identifier [Axis]: Investment PerchHQ LLC | Warrants to Purchase Common Stock | Initial Acquisition Date 9/30/2022 | ||
Schedule of Investments [Line Items] | ||
Investment, Acquisition Date | Sep. 30, 2022 | |
Investment, Identifier [Axis]: Investment Pico Quantitative Trading Holdings, LLC | Warrants to Purchase Membership Units | Initial Acquisition Date 2/7/2020 | ||
Schedule of Investments [Line Items] | ||
Investment, Acquisition Date | Feb. 07, 2020 | |
Investment, Identifier [Axis]: Investment Razor Group GmbH (Germany) | Warrants to Purchase Preferred Series A1 Shares | Initial Acquisition Date 4/28/2021 | ||
Schedule of Investments [Line Items] | ||
Investment, Acquisition Date | Apr. 28, 2021 | |
Investment, Identifier [Axis]: Investment Razor Group GmbH (Germany) | Warrants to Purchase Series C Shares | Initial Acquisition Date 12/23/2022 | ||
Schedule of Investments [Line Items] | ||
Investment, Acquisition Date | Dec. 23, 2022 | |
Investment, Identifier [Axis]: Investment Stitch Holdings, L.P. | Limited Partnership Interests | Initial Acquisition Date 7/30/2021 | ||
Schedule of Investments [Line Items] | ||
Investment, Acquisition Date | Jul. 30, 2021 | |
Investment, Identifier [Axis]: Investment Worldremit Group Limited (United Kingdom) | Warrants to Purchase Series E Stock | Initial Acquisition Date 8/27/2021 | ||
Schedule of Investments [Line Items] | ||
Investment, Acquisition Date | Aug. 27, 2021 | |
Investment, Identifier [Axis]: Investment | Blackbird Holdco, Inc. (Ohio Transmission Corp.), | Preferred Stock | Initial Acquisition Date 12/14/2021 | ||
Schedule of Investments [Line Items] | ||
Investment, Acquisition Date | Dec. 14, 2021 | |
Investment, Identifier [Axis]: Investment | Elevate Brands Holdco Inc. | Warrants to Purchase Preferred Stock | Initial Acquisition Date 3/14/2022 | ||
Schedule of Investments [Line Items] | ||
Investment, Acquisition Date | Mar. 14, 2022 | |
Investment, Identifier [Axis]: Investment | Elevate Brands Holdco Inc., | Warrants to Purchase Common Stock | Initial Acquisition Date 3/14/2022 | ||
Schedule of Investments [Line Items] | ||
Investment, Acquisition Date | Mar. 14, 2022 | |
Investment, Identifier [Axis]: Investment | FinancialForce.com | Warrants to Purchase Series C Preferred Stock | Initial Acquisition Date 1/30/2019 | ||
Schedule of Investments [Line Items] | ||
Investment, Acquisition Date | Jan. 30, 2019 | |
Investment, Identifier [Axis]: Investment | Grey Orange International Inc., | Warrants to Purchase Common Stock | Initial Acquisition Date 5/6/2022 | ||
Schedule of Investments [Line Items] | ||
Investment, Acquisition Date | May 06, 2022 | |
Investment, Identifier [Axis]: Investment | MXP Prime Platform GmbH (SellerX) (Germany), | Warrants to Purchase Preferred Series B Shares | Initial Acquisition Date 11/23/2021 | ||
Schedule of Investments [Line Items] | ||
Investment, Acquisition Date | Nov. 23, 2021 | |
Investment, Identifier [Axis]: Investment | Marsico Holdings, LLC, | Limited Partnership/Limited Liability Company Interests | Initial Acquisition Date 11/28/2007 | ||
Schedule of Investments [Line Items] | ||
Investment, Acquisition Date | Nov. 28, 2007 | |
Investment, Identifier [Axis]: Investment | PerchHQ LLC, | Warrants to Purchase Common Stock | Initial Acquisition Date 9/30/2022 | ||
Schedule of Investments [Line Items] | ||
Investment, Acquisition Date | Sep. 30, 2022 | |
Investment, Identifier [Axis]: Investment | Pico Quantitative Trading Holdings, LLC, | Warrants to Purchase Membership Units | Initial Acquisition Date 2/7/2020 | ||
Schedule of Investments [Line Items] | ||
Investment, Acquisition Date | Feb. 07, 2020 | |
Investment, Identifier [Axis]: Investment | Razor Group GmbH (Germany), | Warrants to Purchase Preferred Series A1 Shares | Initial Acquisition Date 4/28/2021 | ||
Schedule of Investments [Line Items] | ||
Investment, Acquisition Date | Apr. 28, 2021 | |
Investment, Identifier [Axis]: Investment | Razor Group GmbH (Germany), | Warrants to Purchase Series C Shares | Initial Acquisition Date 12/23/2022 | ||
Schedule of Investments [Line Items] | ||
Investment, Acquisition Date | Dec. 23, 2022 | |
Investment, Identifier [Axis]: Investment | Stitch Holdings, L.P. | Limited Partnership Interests | Initial Acquisition Date 7/30/2021 | ||
Schedule of Investments [Line Items] | ||
Investment, Acquisition Date | Jul. 30, 2021 | |
Investment, Identifier [Axis]: Investment | SuCo Investors, LP (Suited Connector) | Warrants to Purchase Class A Units | Initial Acquisition Date 3/6/2023 | ||
Schedule of Investments [Line Items] | ||
Investment, Acquisition Date | Mar. 06, 2023 | |
Investment, Identifier [Axis]: Investment | Worldremit Group Limited (United Kingdom) | Warrants to Purchase Series D Stock | Initial Acquisition Date 2/11/2021 | ||
Schedule of Investments [Line Items] | ||
Investment, Acquisition Date | Feb. 11, 2021 | Feb. 11, 2021 |
Investment, Identifier [Axis]: Investment | Worldremit Group Limited (United Kingdom) | Warrants to Purchase Series E Stock | Initial Acquisition Date 8/27/2021 | ||
Schedule of Investments [Line Items] | ||
Investment, Acquisition Date | Aug. 27, 2021 |
Consolidated Schedules of Inv_5
Consolidated Schedules of Investments (Affiliate Security) (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||
Jun. 30, 2023 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | ||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | $ 570,489,084 | ||||||||
Net realized gain (loss) | $ 195,593 | (404,104) | $ 825,913 | ||||||
Fair Value, Ending Balance | 595,837,411 | 595,837,411 | $ 570,489,084 | ||||||
Investment, Identifier [Axis]: Cash and Cash Equivalents | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2] | 9,531,190 | |||||||
Fair Value, Ending Balance | 12,405,398 | [3],[4],[5] | 12,405,398 | [3],[4],[5] | 9,531,190 | [1],[2] | |||
Investment, Identifier [Axis]: Cash and Investments | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2] | 580,020,274 | |||||||
Fair Value, Ending Balance | 608,242,809 | [3],[4],[5] | 608,242,809 | [3],[4],[5] | 580,020,274 | [1],[2] | |||
Investment, Identifier [Axis]: Controlled Affiliate Security | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Dividend Income, Operating | 0 | [6],[7] | 0 | [8],[9] | |||||
Fair Value, Beginning Balance | [9] | 15,228,000 | [10] | 21,927,071 | 21,927,071 | ||||
Net realized gain (loss) | 0 | [6],[7] | 0 | [8],[9] | |||||
Net increase or decrease in unrealized appreciation or depreciation | (273,916) | [10],[11] | (2,523,687) | [8],[9] | |||||
Acquisitions | 0 | [10],[12] | 0 | [9],[13] | |||||
Dispositions | (502,916) | [10],[14] | (4,175,384) | [9],[15] | |||||
Fair Value, Ending Balance | [10] | 14,999,000 | 14,999,000 | 15,228,000 | [9] | ||||
Investment, Identifier [Axis]: Controlled Affiliate Security | Gordon Brothers Finance Company | Common Stock | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Dividend Income, Operating | 0 | [6],[10] | 0 | [8],[9] | |||||
Fair Value, Beginning Balance | [9] | 0 | [7] | 0 | 0 | ||||
Net realized gain (loss) | 0 | [10],[11] | 0 | [8],[9] | |||||
Net increase or decrease in unrealized appreciation or depreciation | 0 | [10],[11] | 0 | [8],[9] | |||||
Acquisitions | 0 | [10],[12] | 0 | [9],[13] | |||||
Dispositions | 0 | [10],[14] | 0 | [9],[15] | |||||
Fair Value, Ending Balance | 0 | [10] | 0 | [10] | 0 | [7],[9] | |||
Investment, Identifier [Axis]: Controlled Affiliate Security | Gordon Brothers Finance Company | Preferred Stock | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Dividend Income, Operating | 0 | [6],[10] | 0 | [8],[9] | |||||
Fair Value, Beginning Balance | [9] | 0 | [7] | 0 | 0 | ||||
Net realized gain (loss) | 0 | [10],[11] | 0 | [8],[9] | |||||
Net increase or decrease in unrealized appreciation or depreciation | 0 | [10],[11] | 0 | [8],[9] | |||||
Acquisitions | 0 | [10],[12] | 0 | [9],[13] | |||||
Dispositions | 0 | [10],[14] | 0 | [9],[15] | |||||
Fair Value, Ending Balance | 0 | [10] | 0 | [10] | 0 | [7],[9] | |||
Investment, Identifier [Axis]: Controlled Affiliate Security | Gordon Brothers Finance Company | Unsecured Debt | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Dividend Income, Operating | 0 | [6],[10] | 0 | [8],[9] | |||||
Fair Value, Beginning Balance | [9] | 15,228,000 | [10] | 21,927,071 | 21,927,071 | ||||
Net realized gain (loss) | 0 | [10],[11] | 0 | [8],[9] | |||||
Net increase or decrease in unrealized appreciation or depreciation | 273,916 | [10],[11] | (2,523,687) | [8],[9] | |||||
Acquisitions | 0 | [10],[12] | 0 | [9],[13] | |||||
Dispositions | 502,916 | [10],[14] | (4,175,384) | [9],[15] | |||||
Fair Value, Ending Balance | [10] | 14,999,000 | 14,999,000 | 15,228,000 | [9] | ||||
Investment, Identifier [Axis]: Debt Investments | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 560,266,004 | |||||||
Fair Value, Ending Balance | 591,905,479 | [3],[4],[5],[17] | 591,905,479 | [3],[4],[5],[17] | 560,266,004 | [1],[2],[16] | |||
Investment, Identifier [Axis]: Debt Investments Automobiles | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 2,535,420 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 2,535,420 | |||||||
Investment, Identifier [Axis]: Debt Investments | Automobiles | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 2,347,282 | 2,347,282 | ||||||
Investment, Identifier [Axis]: Debt Investments | Automobiles | ALCV Purchaser, Inc. (AutoLenders) | First Lien Revolver | Quarterly LIBOR | Floor Rate 1.00% | Spread 6.75% | Total Coupon 11.39% | Maturity 4/15/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 233,430 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 233,430 | |||||||
Investment, Identifier [Axis]: Debt Investments | Automobiles | ALCV Purchaser, Inc. (AutoLenders) | First Lien Revolver | Quarterly LIBOR | Floor Rate 1.00% | Spread 6.75% | Total Coupon 12.18% | Maturity 4/15/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 231,096 | 231,096 | ||||||
Investment, Identifier [Axis]: Debt Investments | Automobiles | ALCV Purchaser, Inc. (AutoLenders) | First Lien Term Loan | Quarterly LIBOR | Floor Rate 1.00% | Spread 6.75% | Total Coupon 11.45% | Maturity 4/15/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 2,301,990 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 2,301,990 | |||||||
Investment, Identifier [Axis]: Debt Investments | Automobiles | ALCV Purchaser, Inc. (AutoLenders) | First Lien Term Loan | Quarterly LIBOR | Floor Rate 1.00% | Spread 6.75% | Total Coupon 12.23% | Maturity 4/15/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 2,116,186 | 2,116,186 | ||||||
Investment, Identifier [Axis]: Debt Investments | Building Products | Porcelain Acquisition Corporation (Paramount) | First Lien Term Loan | Quarterly LIBOR | Floor Rate 1.00% | Spread 5.75% | Total Coupon 10.48% | Maturity 4/30/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 2,530,084 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 2,530,084 | |||||||
Investment, Identifier [Axis]: Debt Investments | Building Products | Porcelain Acquisition Corporation (Paramount) | First Lien Term Loan | Quarterly SOFR | Floor Rate 1.00% | Spread 5.75% | Total Coupon 11.34% | Maturity 4/30/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 2,439,706 | 2,439,706 | ||||||
Investment, Identifier [Axis]: Debt Investments | Capital Markets | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 1,065,228 | |||||||
Fair Value, Ending Balance | 1,064,728 | [3],[4],[5],[17] | 1,064,728 | [3],[4],[5],[17] | 1,065,228 | [1],[2],[16],[18] | |||
Investment, Identifier [Axis]: Debt Investments | Capital Markets | Pico Quantitative Trading, LLC | First Lien Incremental Term Loan | Quarterly SOFR | Floor Rate 1.5% | Spread 7.25% | Total Coupon 11.61% | Maturity 2/7/2025 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 560,228 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 560,228 | |||||||
Investment, Identifier [Axis]: Debt Investments | Capital Markets | Pico Quantitative Trading, LLC | First Lien Incremental Term Loan | Quarterly SOFR | Floor Rate 1.5% | Spread 7.25% | Total Coupon 12.56% | Maturity 2/7/2025 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 560,228 | 560,228 | ||||||
Investment, Identifier [Axis]: Debt Investments | Capital Markets | Pico Quantitative Trading, LLC | First Lien Term Loan (1.0% Exit Fee) | Quarterly SOFR | Floor Rate 1.5% | Spread 7.25% | Total Coupon 11.98% | Maturity 2/7/2025 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 505,000 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 505,000 | |||||||
Investment, Identifier [Axis]: Debt Investments | Capital Markets | Pico Quantitative Trading, LLC | First Lien Term Loan (1.0% Exit Fee) | Quarterly SOFR | Floor Rate 1.5% | Spread 7.25% | Total Coupon 12.75% | Maturity 2/7/2025 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 504,500 | 504,500 | ||||||
Investment, Identifier [Axis]: Debt Investments | Commercial Services & Supplies | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 6,236,204 | |||||||
Fair Value, Ending Balance | 6,775,507 | [3],[4],[5],[17] | 6,775,507 | [3],[4],[5],[17] | 6,236,204 | [1],[2],[16],[18] | |||
Investment, Identifier [Axis]: Debt Investments | Commercial Services & Supplies | Kellermeyer Bergensons Services, LLC | First Lien Delayed Draw Term Loan A | Quarterly LIBOR | Floor Rate 1.00% | Spread 6.00% | Total Coupon 10.41% | Maturity 11/7/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 313,140 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 313,140 | |||||||
Investment, Identifier [Axis]: Debt Investments | Commercial Services & Supplies | Kellermeyer Bergensons Services, LLC | First Lien Delayed Draw Term Loan A | Quarterly LIBOR | Floor Rate 1.00% | Spread 6.00% | Total Coupon 11.27% | Maturity 11/7/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 320,199 | 320,199 | ||||||
Investment, Identifier [Axis]: Debt Investments | Commercial Services & Supplies | Kellermeyer Bergensons Services, LLC | First Lien Delayed Draw Term Loan B | Quarterly LIBOR | Floor Rate 1.00% | Spread 6.00% | Total Coupon 10.41% | Maturity 11/7/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 433,684 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 433,684 | |||||||
Investment, Identifier [Axis]: Debt Investments | Commercial Services & Supplies | Kellermeyer Bergensons Services, LLC | First Lien Delayed Draw Term Loan B | Quarterly LIBOR | Floor Rate 1.00% | Spread 6.00% | Total Coupon 11.27% | Maturity 11/7/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 443,500 | 443,500 | ||||||
Investment, Identifier [Axis]: Debt Investments | Commercial Services & Supplies | Kellermeyer Bergensons Services, LLC | First Lien Term Loan | Quarterly LIBOR | Floor Rate 1.00% | Spread 6.00% | Total Coupon 10.41% | Maturity 11/7/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 1,423,301 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 1,423,301 | |||||||
Investment, Identifier [Axis]: Debt Investments | Commercial Services & Supplies | Kellermeyer Bergensons Services, LLC | First Lien Term Loan | Quarterly LIBOR | Floor Rate 1.00% | Spread 6.00% | Total Coupon 11.27% | Maturity 11/7/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 1,455,384 | 1,455,384 | ||||||
Investment, Identifier [Axis]: Debt Investments | Commercial Services & Supplies | Pueblo Mechanical and Controls, LLC | First Lien Delayed Draw Term Loan | Quarterly SOFR | Floor Rate 0.75% | Spread 6.00% | Total Coupon 10.49% | Maturity 8/23/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[19] | 335,983 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[19] | 335,983 | |||||||
Investment, Identifier [Axis]: Debt Investments | Commercial Services & Supplies | Pueblo Mechanical and Controls, LLC | First Lien Delayed Draw Term Loan | Quarterly SOFR | Floor Rate 0.75% | Spread 6.00% | Total Coupon 11.26% | Maturity 8/23/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | 728,003 | 728,003 | ||||||
Investment, Identifier [Axis]: Debt Investments | Commercial Services & Supplies | Pueblo Mechanical and Controls, LLC | First Lien Revolver | PRIME | Floor Rate 0.75% | Spread 5.00% | Total Coupon 13.25% | Maturity 8/23/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | 85,060 | 85,060 | ||||||
Investment, Identifier [Axis]: Debt Investments | Commercial Services & Supplies | Pueblo Mechanical and Controls, LLC | First Lien Revolver | Quarterly SOFR | Floor Rate 0.75% | Spread 6.00% | Total Coupon 10.32% | Maturity 8/23/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[19] | (5,128) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[19] | (5,128) | |||||||
Investment, Identifier [Axis]: Debt Investments | Commercial Services & Supplies | Pueblo Mechanical and Controls, LLC | First Lien Term Loan | Quarterly SOFR | Floor Rate 0.75% | Spread 6.00% | Total Coupon 10.32% | Maturity 8/23/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 1,334,367 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 1,334,367 | |||||||
Investment, Identifier [Axis]: Debt Investments | Commercial Services & Supplies | Pueblo Mechanical and Controls, LLC | First Lien Term Loan | Quarterly SOFR | Floor Rate 0.75% | Spread 6.00% | Total Coupon 11.16% | Maturity 8/23/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 1,336,378 | 1,336,378 | ||||||
Investment, Identifier [Axis]: Debt Investments | Commercial Services & Supplies | Thermostat Purchaser III, Inc. (Reedy Industries) | Second Lien Delayed Draw Term Loan | Quarterly LIBOR | Floor Rate 0.75% | Spread 7.25% | Total Coupon 11.98% | Maturity 8/31/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[19] | (31,327) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[19] | (31,327) | |||||||
Investment, Identifier [Axis]: Debt Investments | Commercial Services & Supplies | Thermostat Purchaser III, Inc. (Reedy Industries) | Second Lien Delayed Draw Term Loan | Quarterly SOfR | Floor Rate 0.75% | Spread 7.25% | Total Coupon 12.66% | Maturity 8/31/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | (30,432) | (30,432) | ||||||
Investment, Identifier [Axis]: Debt Investments | Commercial Services & Supplies | Thermostat Purchaser III, Inc. (Reedy Industries) | Second Lien Term Loan | Quarterly LIBOR | Floor Rate 0.75% | Spread 7.25% | Total Coupon 11.98% | Maturity 8/31/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 2,432,184 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 2,432,184 | |||||||
Investment, Identifier [Axis]: Debt Investments | Commercial Services & Supplies | Thermostat Purchaser III, Inc. (Reedy Industries) | Second Lien Term Loan | Quarterly SOFR | Floor Rate 0.75% | Spread 7.25% | Total Coupon 12.66% | Maturity 8/31/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 2,437,415 | 2,437,415 | ||||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 14,666,740 | |||||||
Fair Value, Ending Balance | 14,545,552 | 14,545,552 | 14,666,740 | [1],[2],[16],[18] | |||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering CSG Buyer, Inc. (Core States) | First Lien Revolver | Quarterly SOFR | Floor Rate 1.00% | Spread 6.00% | Total Coupon 10.84% | Maturity 3/31/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[19] | (19,316) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[19] | (19,316) | |||||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering | CSG Buyer, Inc. (Core States) | First Lien Delayed Draw Term Loan | Quarterly SOFR | Floor Rate 1.00% | Spread 6.00% | Total Coupon 10.84% | Maturity 3/31/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[19] | (38,632) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[19] | (38,632) | |||||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering | CSG Buyer, Inc. (Core States) | First Lien Delayed Draw Term Loan | Quarterly SOFR | Floor Rate 1.00% | Spread 6.00% | Total Coupon 11.50% | Maturity 3/31/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | (34,340) | (34,340) | ||||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering | CSG Buyer, Inc. (Core States) | First Lien Revolver | Quarterly SOFR | Floor Rate 1.00% | Spread 6.00% | Total Coupon 11.50% | Maturity 3/31/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | (17,170) | (17,170) | ||||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering | CSG Buyer, Inc. (Core States) | First Lien Term Loan | Quarterly SOFR | Floor Rate 1.00% | Spread 6.00% | Total Coupon 10.84% | Maturity 3/31/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 3,157,203 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 3,157,203 | |||||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering | CSG Buyer, Inc. (Core States) | First Lien Term Loan | Quarterly SOFR | Floor Rate 1.00% | Spread 6.00% | Total Coupon 11.50% | Maturity 3/31/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 3,154,332 | 3,154,332 | ||||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering | Geo Parent Corporation | First Lien Term Loan | Semiannually SOFR | Spread 5.25% | Total Coupon 10.17% | Maturity 12/19/2025 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 713,223 | 713,223 | ||||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering | Homerenew Buyer, Inc. (Project Dream) | First Lien Delayed Draw Term Loan | Monthly SOFR | Floor Rate 1.00% | Spread 6.50% | Total Coupon 11.73% | Maturity 11/23/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20],[21] | 4,744,224 | 4,744,224 | ||||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering | Homerenew Buyer, Inc. (Project Dream) | First Lien Delayed Draw Term Loan | Semiannually SOFR | Floor Rate 1.00% | Spread 6.50% | Total Coupon 11.36% | Maturity 11/23/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[19] | 4,684,152 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[19] | 4,684,152 | |||||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering | Homerenew Buyer, Inc. (Project Dream) | First Lien Revolver | Monthly SOFR | Floor Rate 1.00% | Spread 6.50% | Total Coupon 11.12% | Maturity 11/23/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[19] | 201,038 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[19] | 201,038 | |||||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering | Homerenew Buyer, Inc. (Project Dream) | First Lien Revolver | Monthly SOFR | Floor Rate 1.00% | Spread 6.50% | Total Coupon 11.69% | Maturity 11/23/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | 911,289 | 911,289 | ||||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering | Homerenew Buyer, Inc. (Project Dream) | First Lien Term Loan | Monthly SOFR | Floor Rate 1.00% | Spread 6.50% | Total Coupon 11.70% | Maturity 11/23/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | 3,395,223 | 3,395,223 | ||||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering | Homerenew Buyer, Inc. (Project Dream) | First Lien Term Loan | Semiannually SOFR | Floor Rate 1.00% | Spread 6.50% | Total Coupon 11.54% | Maturity 11/23/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 3,448,061 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 3,448,061 | |||||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering | LJ Avalon Holdings, LLC (Ardurra) | First Lien Delayed Draw Term Loan | Monthly SOFR | Floor Rate 1.00% | Spread 6.50% | Total Coupon 11.51% | Maturity 2/1/2030 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | (17,754) | (17,754) | ||||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering | LJ Avalon Holdings, LLC (Ardurra) | First Lien Revolver | Monthly SOFR | Floor Rate 1.00% | Spread 6.50% | Total Coupon 11.51% | Maturity 2/1/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | (7,101) | (7,101) | ||||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering | LJ Avalon Holdings, LLC (Ardurra) | First Lien Term Loan | Monthly SOFR | Floor Rate 1.00% | Spread 6.50% | Total Coupon 11.51% | Maturity 2/1/2030 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 1,703,626 | 1,703,626 | ||||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering | Sunland Asphalt & Construction, LLC | First Lien Delayed Draw Term Loan | Semiannually LIBOR | Floor Rate 1.00% | Spread 6.00% | Total Coupon 11.15% | Maturity 1/13/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 813,853 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 813,853 | |||||||
Investment, Identifier [Axis]: Debt Investments | Construction & Engineering | Sunland Asphalt & Construction, LLC | First Lien Term Loan | Semiannually LIBOR | Floor Rate 1.00% | Spread 6.00% | Total Coupon 11.15% | Maturity 1/13/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 2,420,381 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 2,420,381 | |||||||
Investment, Identifier [Axis]: Debt Investments | Consumer Finance | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 7,527,989 | |||||||
Fair Value, Ending Balance | 11,263,573 | [3],[4],[5],[17] | 11,263,573 | [3],[4],[5],[17] | 7,527,989 | [1],[2],[16],[18] | |||
Investment, Identifier [Axis]: Debt Investments | Consumer Finance | Freedom Financial Network Funding, LLC | First Lien Delayed Draw Term Loan | Semiannually SOFR | Floor Rate 1.00% | Spread 9.00% | Total Coupon 13.95% | Maturity 9/21/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[19] | (51,933) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[19] | (51,933) | |||||||
Investment, Identifier [Axis]: Debt Investments | Consumer Finance | Freedom Financial Network Funding, LLC | First Lien Delayed Draw Term Loan | Semiannually SOFR | Floor Rate 1.00% | Spread 9.00% | Total Coupon 14.20% | Maturity 9/21/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | 1,661,867 | 1,661,867 | ||||||
Investment, Identifier [Axis]: Debt Investments | Consumer Finance | Freedom Financial Network Funding, LLC | First Lien Term Loan | Semiannually SOFR | Floor Rate 1.00% | Spread 9.00% | Total Coupon 13.95% | Maturity 9/21/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 5,037,535 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 5,037,535 | |||||||
Investment, Identifier [Axis]: Debt Investments | Consumer Finance | Freedom Financial Network Funding, LLC | First Lien Term Loan | Semiannually SOFR | Floor Rate 1.00% | Spread 9.00% | Total Coupon 14.54% | Maturity 9/21/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 4,985,601 | 4,985,601 | ||||||
Investment, Identifier [Axis]: Debt Investments | Consumer Finance | Lucky US BuyerCo LLC (Global Payments) | First Lien Revolver | Quarterly SOFR | Floor Rate 1.00% | Spread 7.50% | Total Coupon 12.39% | Maturity 3/30/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | (7,976) | (7,976) | |||||||
Investment, Identifier [Axis]: Debt Investments | Consumer Finance | Lucky US BuyerCo LLC (Global Payments) | First Lien Term Loan | Quarterly SOFR | Floor Rate 1.00% | Spread 7.50% | Total Coupon 12.39% | Maturity 3/30/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | 2,108,350 | 2,108,350 | |||||||
Investment, Identifier [Axis]: Debt Investments | Consumer Finance | Money Transfer Acquisition Inc. | First Lien Term Loan | Monthly SOFR | Floor Rate 1.00% | Spread 8.25% | Total Coupon 12.67% | Maturity 12/14/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 2,542,387 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 2,542,387 | |||||||
Investment, Identifier [Axis]: Debt Investments | Consumer Finance | Money Transfer Acquisition Inc. | First Lien Term Loan | Monthly SOFR | Floor Rate 1.00% | Spread 8.25% | Total Coupon 13.45% | Maturity 12/14/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 2,515,731 | 2,515,731 | ||||||
Investment, Identifier [Axis]: Debt Investments | Containers & Packaging | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 13,997,622 | |||||||
Fair Value, Ending Balance | 13,982,403 | [3],[4],[5],[17] | 13,982,403 | [3],[4],[5],[17] | 13,997,622 | [1],[2],[16],[18] | |||
Investment, Identifier [Axis]: Debt Investments | Containers & Packaging | BW Holding, Inc. (Brook & Whittle) | Second Lien Term Loan | Quarterly SOFR | Floor Rate 0.75% | Spread 7.50% | Total Coupon 12.05% | Maturity 12/14/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 4,226,526 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 4,226,526 | |||||||
Investment, Identifier [Axis]: Debt Investments | Containers & Packaging | BW Holding, Inc. (Brook & Whittle) | Second Lien Term Loan | Quarterly SOFR | Floor Rate 0.75% | Spread 7.50% | Total Coupon 12.91% | Maturity 12/14/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 4,021,354 | 4,021,354 | ||||||
Investment, Identifier [Axis]: Debt Investments | Containers & Packaging | PVHC Holding Corp. | First Lien Term Loan | Quarterly LIBOR | Floor Rate 1.00% | Spread 4.75% | Total Coupon 9.48% | Maturity 8/2/2024 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 9,771,096 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 9,771,096 | |||||||
Investment, Identifier [Axis]: Debt Investments | Containers & Packaging | PVHC Holding Corp. | First Lien Term Loan | Quarterly SOFR | Floor Rate 1.00% | Spread 4.75% | Total Coupon 10.14% | Maturity 8/2/2024 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 9,961,049 | 9,961,049 | ||||||
Investment, Identifier [Axis]: Debt Investments | Distributors Colony Display LLC | First Lien Term Loan | Semiannaually SOFR | Floor Rate 1.00% | Spread 9.50% | Total Coupon 13.91% | Maturity 6/30/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 2,185,295 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 2,185,295 | |||||||
Investment, Identifier [Axis]: Debt Investments | Distributors | Colony Display LLC | First Lien Term Loan | Quarterly SOFR | Floor Rate 1.00% | Spread 6.50% Cash + 3.00% PIK | Total Coupon 15.00% | Maturity 6/30/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 2,108,579 | 2,108,579 | ||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 46,025,835 | |||||||
Fair Value, Ending Balance | 45,041,126 | [3],[4],[5],[17] | 45,041,126 | [3],[4],[5],[17] | 46,025,835 | [1],[2],[16],[18] | |||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | Elevate Brands OpCo LLC | First Lien Delayed Draw Term Loan | Quarterly SOFR | Floor Rate 1.00% | Spread 8.50% | Total Coupon 13.23% | Maturity 3/15/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[19] | 7,830,210 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[19] | 7,830,210 | |||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | Elevate Brands OpCo LLC | First Lien Delayed Draw Term Loan | Quarterly SOFR | Floor Rate 1.00% | Spread 8.50% | Total Coupon 13.70% | Maturity 3/15/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | 7,900,095 | 7,900,095 | ||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | Fusion Holding Corp. (Finalsite) | First Lien Revolver | Quarterly SOFR | Floor Rate 0.75% | Spread 6.25% | Total Coupon 10.78% | Maturity 9/15/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[19] | (5,592) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[19] | (5,592) | |||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | Fusion Holding Corp. (Finalsite) | First Lien Revolver | Quarterly SOFR | Floor Rate 0.75% | Spread 6.25% | Total Coupon 11.55% | Maturity 9/15/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | (2,927) | (2,927) | ||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | Fusion Holding Corp. (Finalsite) | First Lien Term Loan | Quarterly SOFR | Floor Rate 0.75% | Spread 6.25% | Total Coupon 10.78% | Maturity 9/14/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 3,131,144 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 3,131,144 | |||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | Fusion Holding Corp. (Finalsite) | First Lien Term Loan | Quarterly/Semiannually SOFR | | Floor Rate 0.75% | Spread 6.25% | Total Coupon 11.55% | Maturity 9/14/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 3,154,344 | 3,154,344 | ||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | Razor Group GmbH (Germany) | First Lien Delayed Draw Term Loan | Monthly LIBOR | Floor Rate 1.00% | Spread 9.00% | Total Coupon 14.21% | Maturity 4/30/2025 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[19],[22],[23] | 12,176,370 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[19],[22],[23] | 12,176,370 | |||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | Razor Group GmbH (Germany) | First Lien Delayed Draw Term Loan | Monthly SOFR | Floor Rate 2.00% | Spread 5.00% Cash + 5.00% PIK | Total Coupon 15.32% | Maturity 4/30/2025 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20],[24],[25],[26] | 12,574,284 | 12,574,284 | ||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | Razor Group GmbH (Germany) | First Lien Sr Secured Convertible Term Loan | Fixed Spread 3.50% Cash and 3.50% PIK | Total Coupon 7.00% | Maturity 4/30/2025 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[22],[23],[27] | 1,762,833 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[22],[23],[27] | 1,762,833 | |||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | Razor Group GmbH (Germany) | First Lien Sr Secured Convertible Term Loan | Fixed | Spread 3.50% Cash and 3.50% PIK | Total Coupon 7.00% | Maturity 4/30/2025 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[24],[25],[26] | 1,775,314 | 1,775,314 | ||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | SellerX Germany GmbH & Co. Kg (Germany) | First Lien Delayed Draw Term Loan | Quarterly LIBOR | Floor Rate 1.00% | Spread 8.00% Cash and 3.00% PIK | Total Coupon 15.73% | Maturity 11/23/2025 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[19],[22],[23],[27] | 6,255,561 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[19],[22],[23],[27] | 6,255,561 | |||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | SellerX Germany GmbH & Co. Kg (Germany) | First Lien Delayed Draw Term Loan | Quarterly LIBOR | Floor Rate 1.00% | Spread 8.00% Cash and 3.00% PIK | Total Coupon 16.54% | Maturity 11/23/2025 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20],[24],[25],[26] | 6,441,235 | 6,441,235 | ||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | Thras.io, LLC | First Lien Delayed Draw Term Loan | Quarterly SOFR | Floor Rate 1.00% | Spread 7.00% | Total Coupon 12.50% | Maturity 12/18/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[28] | 2,283,740 | 2,283,740 | ||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | Thras.io, LLC | First Lien Delayed Draw Term Loan | Semiannually LIBOR | Floor Rate 1.00% | Spread 7.00% | Total Coupon 11.17% | Maturity 12/18/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[19],[29] | 2,373,093 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[19],[29] | 2,373,093 | |||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | Thras.io, LLC | First Lien Term Loan | Quarterly SOFR | Floor Rate 1.00% | Spread 7.00% | Total Coupon 12.50% | Maturity 12/18/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[28] | 5,448,463 | 5,448,463 | ||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | Thras.io, LLC | First Lien Term Loan | Semiannually LIBOR | Floor Rate 1.00% | Spread 7.00% | Total Coupon 11.17% | Maturity 12/18/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[29] | 6,434,771 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[29] | 6,434,771 | |||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | Whele LLC (Perch) | First Lien Incremental Term Loan | Monthly SOFR | Floor Rate 1.00% | Spread 8.50% Cash + 3.00% PIK | Total Coupon 16.20% | Maturity 10/15/2025 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[27] | 6,067,445 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[27] | 6,067,445 | |||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Consumer Services | Whele LLC (Perch) | First Lien Incremental Term Loan | Monthly SOFR | Floor Rate 1.00% | Spread 8.50% Cash + 3.00% PIK | Total Coupon 16.82% | Maturity 10/15/2025 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[24] | 5,466,578 | 5,466,578 | ||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 82,648,607 | |||||||
Fair Value, Ending Balance | 87,286,625 | [3],[4],[5],[17] | 87,286,625 | [3],[4],[5],[17] | 82,648,607 | [1],[2],[16] | |||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | 2-10 Holdco, Inc. | First Lien Revolver | SOFR (M) | Floor Rate 0.75% | Spread 6.00% | Total Coupon 10.42% | Maturity 3/26/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[19] | (3,171) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[19] | (3,171) | |||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | 2-10 Holdco, Inc. | First Lien Revolver | SOFR(M) | Floor Rate 0.75% | Spread 6.00% | Total Coupon 11.20% | Maturity 3/26/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | (4,397) | (4,397) | ||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | 2-10 Holdco, Inc. | First Lien Term Loan | Monthly SOFR | Floor Rate 0.75% | Spread 6.00% | Total Coupon 10.42% | Maturity 3/26/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 6,452,601 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 6,452,601 | |||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | 2-10 Holdco, Inc. | First Lien Term Loan | SOFR(M) | Floor Rate 0.75% | Spread 6.00% | Total Coupon 11.20% | Maturity 3/26/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 6,320,309 | 6,320,309 | ||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Accordion Partners LLC | First Lien Delayed Draw Term Loan A | Quarterly SOFR | Floor Rate 0.75% | Spread 6.50% | Total Coupon 11.08% | Maturity 8/29/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[19] | (7,017) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[19] | (7,017) | |||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Accordion Partners LLC | First Lien Delayed Draw Term Loan A | SOFR (Q)| Floor Rate 0.75% | Spread 6.50% | Total Coupon 11.74% | Maturity 8/29/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 466,383 | 466,383 | ||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Accordion Partners LLC | First Lien Delayed Draw Term Loan B | Quarterly SOFR | Floor Rate 0.75% | Spread 6.25% | Total Coupon 10.83% | Maturity 8/29/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[19] | (15,203) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[19] | (15,203) | |||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Accordion Partners LLC | First Lien Delayed Draw Term Loan B | SOFR(Q) | Floor Rate 0.75% | Spread 6.25% | Total Coupon 11.29% | Maturity 8/29/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | 576,546 | 576,546 | ||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Accordion Partners LLC | First Lien Revolver | Floor Rate 0.75% | Spread 6.25% |Total Coupon 10.83% | Maturity 8/29/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[19] | (12,162) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[19] | (12,162) | |||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Accordion Partners LLC | First Lien Revolver | Quaterly SOFR | Floor Rate 0.75% | Spread 6.25% | Total Coupon 11.49% | Maturity 8/31/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | (6,549) | (6,549) | ||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Accordion Partners LLC | First Lien Term Loan | Quarterly SOFR | Floor Rate 0.75% | Spread 6.25% | Total Coupon 10.83% | Maturity 8/29/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 5,216,891 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 5,216,891 | |||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Accordion Partners LLC | First Lien Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 6.25% | Total Coupon 11.49% | Maturity 8/29/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 5,254,759 | 5,254,759 | ||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Callodine Commercial Finance, LLC | First Lien Term Loan | Quarterly LIBOR | Floor Rate 1.00% | Spread 9.00% | Total Coupon 13.73% | Maturity 11/3/2025 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 24,775,000 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 24,775,000 | |||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Callodine Commercial Finance, LLC | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 9.00% | Total Coupon 14.50% | Maturity 11/3/2025 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 24,850,000 | 24,850,000 | ||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Callodine Commercial Finance, LLC | Subordinated Debt | Monthly SOFR | Floor Rate 0.25% | Spread 8.50% | Total Coupon 13.14% | Maturity 10/8/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[30] | 4,930,000 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[30] | 4,930,000 | |||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Callodine Commercial Finance, LLC | Subordinated Debt | SOFR(M) | Floor Rate 0.25% | Spread 8.50% | Total Coupon 13.90% | Maturity 10/8/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[31] | 4,955,000 | 4,955,000 | ||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | GC Champion Acquisition LLC (Numerix) | First Lien Delayed Draw Term Loan | SOFR(S) | Floor Rate 1.00% | Spread 6.75% | Total Coupon 11.78% | Maturity 8/21/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | 1,945,865 | 1,945,865 | ||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | GC Champion Acquisition LLC (Numerix) | First Lien Delayed Draw Term Loan | SOFR(S) | Floor Rate 1.00% | Spread 6.75% |Total Coupon 11.15% | Maturity 8/21/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[19] | (57,773) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[19] | (57,773) | |||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | GC Champion Acquisition LLC (Numerix) | First Lien Term Loan | SOFR(S) | Floor Rate 1.00% | Spread 6.75% | Total Coupon 11.15% | Maturity 8/21/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 6,897,369 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 6,897,369 | |||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | GC Champion Acquisition LLC (Numerix) | First Lien Term Loan | SOFR(S) | Floor Rate 1.00% | Spread 6.75% | Total Coupon 11.78% | Maturity 8/21/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 7,005,113 | 7,005,113 | ||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Gordon Brothers Finance Company | Unsecured Debt | LIBOR (M) | Floor Rate 1.00% | Spread 11.00% | Total Coupon 18.19% | Maturity 10/31/2021 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[32],[33],[34] | 14,999,000 | 14,999,000 | ||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Gordon Brothers Finance Company | Unsecured Debt | LIBOR(M) | Floor Rate 1.00% | Spread 11.00% | Total Coupon 17.38% | Maturity 10/31/2021 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[35],[36],[37] | 15,228,000 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[35],[36],[37] | 15,228,000 | |||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Libra Solutions Intermediate Holdco, LLC et al (fka Oasis Financial, LLC) | Second Lien Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 18.50% | Total Coupon 12.93% | Maturity 7/5/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 4,870,000 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 4,870,000 | |||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Libra Solutions Intermediate Holdco, LLC et al (fka Oasis Financial, LLC) | Second Lien Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 8.50% | Total Coupon 13.71% | Maturity 7/5/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 4,890,000 | 4,890,000 | ||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Wealth Enhancement Group, LLC | First Lien Delayed Draw Term Loan | SOFR(Q)/(S) | Floor Rate 1.00% | Spread 6.25% | Total Coupon 11.09% | Maturity 10/4/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | 5,026,273 | 5,026,273 | ||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Wealth Enhancement Group, LLC | First Lien Delayed Draw Term Loan | SOFR(S) | Floor Rate 1.00% | Spread 6.00% | Total Coupon 10.44% | Maturity 10/4/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[19] | 3,298,870 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[19] | 3,298,870 | |||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Wealth Enhancement Group, LLC | First Lien Revolver | SOFR(S) | Floor Rate 1.00% | Spread 6.00% | Total Coupon 10.44% | Maturity 10/4/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[19] | (10,098) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[19] | (10,098) | |||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Wealth Enhancement Group, LLC | First Lien Revolver | SOFR(S) | Floor Rate 1.00% | Spread 6.25% | Total Coupon 11.09% | Maturity 10/4/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | (9,177) | (9,177) | ||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Worldremit Group Limited (United Kingdom) | First Lien Term Loan (3.0% Exit Fee) | LIBOR(Q) | Floor Rate 1.00% | Spread 9.25% | Total Coupon 13.91% | Maturity 2/11/2025 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[22],[23] | 11,085,300 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[22],[23] | 11,085,300 | |||||||
Investment, Identifier [Axis]: Debt Investments | Diversified Financial Services | Worldremit Group Limited (United Kingdom) | First Lien Term Loan (3.0% Exit Fee) | SOFR(Q)/(M) | Floor Rate 1.00% | Spread 9.25% | Total Coupon 14.65% | Maturity 2/11/2025 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[25],[26] | 11,017,500 | 11,017,500 | ||||||
Investment, Identifier [Axis]: Debt Investments | Electrical Equipment | Advanced Lighting Technologies, LLC | Second Lien Sr Secured Notes | LIBOR(M) | Floor Rate 2.00% | Spread 16.00% PIK + 6.00% Cash | Total Coupon 28.33% | Maturity 3/16/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[27],[35],[36],[38] | 708,823 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[27],[35],[36],[38] | 708,823 | |||||||
Investment, Identifier [Axis]: Debt Investments | Health Care Equipment & Supplies | Zest Acquisition Corp. | Second Lien Term Loan | LIBOR(M) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 11.39% | Maturity 3/14/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[29] | 14,025,000 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[29] | 14,025,000 | |||||||
Investment, Identifier [Axis]: Debt Investments | Health Care Providers & Services | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 21,097,447 | |||||||
Fair Value, Ending Balance | 21,450,215 | [3],[4],[5],[17] | 21,450,215 | [3],[4],[5],[17] | 21,097,447 | [1],[2],[16] | |||
Investment, Identifier [Axis]: Debt Investments | Health Care Providers & Services | INH Buyer, Inc. (IMS Health) | First Lien Term Loan (1.5% Exit Fee) | SOFR(Q) | Floor Rate 1.00% | Spread 3.50% Cash + 3.50% PIK | Total Coupon 11.68% | Maturity 6/28/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[27] | 2,121,343 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[27] | 2,121,343 | |||||||
Investment, Identifier [Axis]: Debt Investments | Health Care Providers & Services | INH Buyer, Inc. (IMS Health) | First Lien Term Loan (1.5% Exit Fee) | SOFR(Q) | Floor Rate 1.00% | Spread 3.50% Cash + 3.50% PIK | Total Coupon 12.34% | Maturity 6/28/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[24] | 2,258,451 | 2,258,451 | ||||||
Investment, Identifier [Axis]: Debt Investments | Health Care Providers & Services | Opco Borrower, LLC (Giving Home Health Care) | First Lien Revolver | (Q)SOFR | Floor Rate 1.00% | Spread 6.50% | Total Coupon 11.84% | Maturity 8/19/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | (25) | (25) | ||||||
Investment, Identifier [Axis]: Debt Investments | Health Care Providers & Services | Opco Borrower, LLC (Giving Home Health Care) | First Lien Revolver | SOFR(M) | Floor Rate 1.00% | Spread 6.50% | Total Coupon 10.87% | Maturity 8/19/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[19] | 5,706 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[19] | 5,706 | |||||||
Investment, Identifier [Axis]: Debt Investments | Health Care Providers & Services | Opco Borrower, LLC (Giving Home Health Care) | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 6.50% | Total Coupon 11.18% | Maturity 8/19/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 335,658 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 335,658 | |||||||
Investment, Identifier [Axis]: Debt Investments | Health Care Providers & Services | Opco Borrower, LLC (Giving Home Health Care) | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 6.50% | Total Coupon 11.84% | Maturity 8/19/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 337,035 | 337,035 | ||||||
Investment, Identifier [Axis]: Debt Investments | Health Care Providers & Services | Outcomes Group Holdings, Inc. | Second Lien Term Loan | LIBOR(M) | Spread 7.50% | Total Coupon 12.69% | Maturity 10/26/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[28] | 5,653,846 | 5,653,846 | ||||||
Investment, Identifier [Axis]: Debt Investments | Health Care Providers & Services | Outcomes Group Holdings, Inc. | Second Lien Term Loan | LIBOR(Q) | Spread 7.50% | Total Coupon 12.23% | Maturity 10/26/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 5,480,769 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 5,480,769 | |||||||
Investment, Identifier [Axis]: Debt Investments | Health Care Providers & Services | Outcomes Group Holdings, Inc. | Second Lien Term Loan | SOFR(M) | Floor rate 0.50% | Spread 7.50% | Total Coupon 12.70% | Maturity 10/26/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 3,432,308 | 3,432,308 | ||||||
Investment, Identifier [Axis]: Debt Investments | Health Care Providers & Services | Outcomes Group Holdings, Inc. | Second Lien Term Loan | SOFR(Q) | Floor rate 0.50% | Spread 7.50% | Total Coupon 12.05% | Maturity 10/26/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 3,361,538 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 3,361,538 | |||||||
Investment, Identifier [Axis]: Debt Investments | Health Care Providers & Services | PHC Buyer, LLC (Patriot Home Care) | First Lien Delayed Draw Term Loan | SOFR (Q) | Floor rate 0.75% | Spread 6.00% | Total Coupon 11.26% | Maturity 5/4/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | (29,670) | (29,670) | ||||||
Investment, Identifier [Axis]: Debt Investments | Health Care Providers & Services | PHC Buyer, LLC (Patriot Home Care) | First Lien Delayed Draw Term Loan | SOFR(S) | Floor rate 0.75% | Spread 6.00% | Total Coupon 10.70% | Maturity 5/4/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[19] | (46,396) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[19] | (46,396) | |||||||
Investment, Identifier [Axis]: Debt Investments | Health Care Providers & Services | PHC Buyer, LLC (Patriot Home Care) | First Lien Term Loan | SOFR(Q) | Floor rate 0.75% | Spread 6.00% | Total Coupon 11.26% | Maturity 5/4/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 3,702,545 | 3,702,545 | ||||||
Investment, Identifier [Axis]: Debt Investments | Health Care Providers & Services | PHC Buyer, LLC (Patriot Home Care) | First Lien Term Loan | SOFR(S) | Floor rate 0.75% | Spread 6.00% | Total Coupon 10.70% | Maturity 5/4/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 3,677,559 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 3,677,559 | |||||||
Investment, Identifier [Axis]: Debt Investments | Health Care Providers & Services | Team Services Group, LLC | Second Lien Term Loan | LIBOR(Q) | Floor rate 1.00% | Spread 9.00% | Total Coupon 14.27% | Maturity 11/13/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 6,095,725 | 6,095,725 | ||||||
Investment, Identifier [Axis]: Debt Investments | Health Care Providers & Services | Team Services Group, LLC | Second Lien Term Loan | LIBOR(S) | Floor rate 1.00% | Spread 9.00% | Total Coupon 13.93% | Maturity 11/13/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 6,161,270 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 6,161,270 | |||||||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 25,380,349 | |||||||
Fair Value, Ending Balance | 25,539,811 | [3],[4],[5] | 25,539,811 | [3],[4],[5] | 25,380,349 | [1],[2],[16] | |||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | Appriss Health, LLC (PatientPing) | First Lien Revolver | LIBOR(M) | Floor rate 1.00% | Spread 7.25% | Total Coupon 11.54% | Maturity 5/6/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[19] | (10,545) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[19] | (10,545) | |||||||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | Appriss Health, LLC (PatientPing) | First Lien Revolver | LIBOR(M) | Floor rate 1.00% | Spread 7.25% | Total Coupon 11.90% | Maturity 5/6/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | (7,477) | (7,477) | ||||||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | Appriss Health, LLC (PatientPing) | First Lien Term Loan | LIBOR(M) | Floor rate 1.00% | Spread 7.25% | Total Coupon 11.54% | Maturity 5/6/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 2,710,930 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 2,710,930 | |||||||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | Appriss Health, LLC (PatientPing) | First Lien Term Loan | LIBOR(M) | Floor rate 1.00% | Spread 7.25% | Total Coupon 11.90% | Maturity 5/6/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 2,749,920 | 2,749,920 | ||||||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | CareATC, Inc. | First Lien Revolver | LIBOR(S) | Floor rate 1.00% | Spread 7.25% | Total Coupon 9.73% | Maturity 3/14/2024 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 332,665 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 332,665 | |||||||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | CareATC, Inc. | First Lien Revolver | SOFR(Q) | Floor rate 1.00% | Spread 7.25% | Total Coupon 13.07% | Maturity 3/14/2024 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | (8,114) | (8,114) | ||||||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | CareATC, Inc. | First Lien Term Loan | LIBOR(Q) | Floor rate 1.00% | Spread 7.25% | Total Coupon 11.99% | Maturity 3/14/2024 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 7,541,813 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 7,541,813 | |||||||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | CareATC, Inc. | First Lien Term Loan | SOFR(Q) | Floor rate 1.00% | Spread 7.25% | Total Coupon 13.07% | Maturity 3/14/2024 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 7,480,498 | 7,480,498 | ||||||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | ESO Solutions, Inc. | First Lien Revolver | SOFR(Q) | Floor rate 1.00% | Spread 7.00% | Total Coupon 11.59% | Maturity 5/3/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[19] | (24,651) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[19] | (24,651) | |||||||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | ESO Solutions, Inc. | First Lien Revolver | SOFR(Q) | Floor rate 1.00% | Spread 7.00% | Total Coupon 12.33% | Maturity 5/3/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | 344,492 | 344,492 | ||||||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | ESO Solutions, Inc. | First Lien Term Loan | SOFR(Q) | Floor rate 1.00% | Spread 7.00% | Total Coupon 11.59% | Maturity 5/3/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 8,045,370 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 8,045,370 | |||||||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | ESO Solutions, Inc. | First Lien Term Loan | SOFR(Q) | Floor rate 1.00% | Spread 7.00% | Total Coupon 12.25% | Maturity 5/3/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 8,036,989 | 8,036,989 | ||||||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | Gainwell Acquisition Corp. | Second Lien Term Loan | LIBOR(Q) | Floor rate 1.00% | Spread 8.00% | Total Coupon 11.74% | Maturity 10/2/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 1,899,767 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 1,899,767 | |||||||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | Gainwell Acquisition Corp. | Second Lien Term Loan | SOFR(Q) | Floor rate 1.00% | Spread 8.00% | Total Coupon 13.04% | Maturity 10/2/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 1,988,503 | 1,988,503 | ||||||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | Sandata Technologies, LLC | First Lien Term Loan | LIBOR(Q) | Spread 6.00% | Total Coupon 10.29% | Maturity 7/23/2024 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 488,500 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 488,500 | |||||||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | Sandata Technologies, LLC | First Lien Term Loan | LIBOR(Q) | Spread 6.00% | Total Coupon 10.75% | Maturity 7/23/2024 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 4,396,500 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 4,396,500 | |||||||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | Sandata Technologies, LLC | First Lien Term Loan | LIBOR(Q)/SOFR(Q) | Spread 6.00% | Total Coupon 11.46% | Maturity 7/23/2024 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 495,500 | 495,500 | ||||||
Investment, Identifier [Axis]: Debt Investments | Health Care Technology | Sandata Technologies, LLC | First Lien Term Loan | SOFR(Q) | Spread 6.00% |Total Coupon 11.50% | Maturity 7/23/2024 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 4,459,500 | 4,459,500 | ||||||
Investment, Identifier [Axis]: Debt Investments | Hotels, Restaurants & Leisure | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 5,087,470 | |||||||
Fair Value, Ending Balance | 11,200,068 | [3],[4],[5],[17] | 11,200,068 | [3],[4],[5],[17] | 5,087,470 | [1],[2],[16] | |||
Investment, Identifier [Axis]: Debt Investments | Hotels, Restaurants & Leisure | OCM Luxembourg Baccarat Bidco S.A.R.L. (Interblock) (Slovenia) | First Lien Revolver | PRIME | Floor rate 0.75% | Spread 5.25% | Total Coupon 13.50% | Maturity 6/3/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20],[25],[26] | 199,829 | 199,829 | ||||||
Investment, Identifier [Axis]: Debt Investments | Hotels, Restaurants & Leisure | OCM Luxembourg Baccarat Bidco S.A.R.L. (Interblock) (Slovenia) | First Lien Revolver | SOFR(Q) | Floor rate 0.75% | Spread 6.25% | Total Coupon 10.68% | Maturity 6/3/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[19],[22],[23] | (10,915) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[19],[22],[23] | (10,915) | |||||||
Investment, Identifier [Axis]: Debt Investments | Hotels, Restaurants & Leisure | OCM Luxembourg Baccarat Bidco S.A.R.L. (Interblock) (Slovenia) | First Lien Term Loan | SOFR(Q) | Floor rate 0.75% | Spread 6.25% | Total Coupon 10.68% | Maturity 6/3/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[22],[23] | 5,098,385 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[22],[23] | 5,098,385 | |||||||
Investment, Identifier [Axis]: Debt Investments | Hotels, Restaurants & Leisure | OCM Luxembourg Baccarat Bidco S.A.R.L. (Interblock) (Slovenia) | First Lien Term Loan | SOFR(Q) | Floor rate 0.75% | Spread 6.25% | Total Coupon 11.48% | Maturity 6/3/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[25],[26] | 5,083,245 | 5,083,245 | ||||||
Investment, Identifier [Axis]: Debt Investments | Hotels, Restaurants & Leisure | Showtime Acquisition, L.L.C (World Choice) | First Lien Term Loan | SOFR(Q) | Floor rate 1.00% | Spread 7.50% | Total Coupon 12.67% | Maturity 8/7/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[17] | 5,938,909 | 5,938,909 | ||||||
Investment, Identifier [Axis]: Debt Investments | Hotels, Restaurants & Leisure | Showtime Acquisition, L.L.C. (World Choice) | First Lien Delayed Draw Term Loan | SOFR(Q) | Floor rate 1.00% | Spread 7.50% | Total Coupon 12.67% | Maturity 8/7/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[17],[20] | (9,740) | (9,740) | ||||||
Investment, Identifier [Axis]: Debt Investments | Hotels, Restaurants & Leisure | Showtime Acquisition, L.L.C. (World Choice) | First Lien Revolver | SOFR(Q) | Floor rate 1.00% | Spread 7.50% | Total Coupon 12.67% | Maturity 8/7/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[17],[20] | (12,175) | (12,175) | ||||||
Investment, Identifier [Axis]: Debt Investments | IT Services | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 13,999,657 | |||||||
Fair Value, Ending Balance | 20,092,477 | [3],[4],[5],[17] | 20,092,477 | [3],[4],[5],[17] | 13,999,657 | [1],[2],[16],[18] | |||
Investment, Identifier [Axis]: Debt Investments | IT Services | Avalara, Inc. | First Lien Revolver | SOFR(Q) | Floor Rate 0.75% | Spread 7.25% | Total Coupon 11.83% | Maturity 10/19/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[19] | (6,750) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[19] | (6,750) | |||||||
Investment, Identifier [Axis]: Debt Investments | IT Services | Avalara, Inc. | First Lien Revolver | SOFR(Q) | Floor Rate 0.75% | Spread 7.25% | Total Coupon 12.49% | Maturity 10/19/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | (1,125) | (1,125) | ||||||
Investment, Identifier [Axis]: Debt Investments | IT Services | Avalara, Inc. | First Lien Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 7.25% | Total Coupon 11.83% | Maturity 10/19/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 2,182,500 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 2,182,500 | |||||||
Investment, Identifier [Axis]: Debt Investments | IT Services | Avalara, Inc. | First Lien Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 7.25% | Total Coupon 12.49% | Maturity 10/19/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 2,238,750 | 2,238,750 | ||||||
Investment, Identifier [Axis]: Debt Investments | IT Services | Ensono, Inc. | Second Lien Term Loan B | LIBOR(S) | Spread 8.00% | Total Coupon 13.15% | Maturity 5/28/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 4,625,000 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 4,625,000 | |||||||
Investment, Identifier [Axis]: Debt Investments | IT Services | Ensono, Inc. | Second Lien Term Loan B | SOFR(M) | Spread 8.00% | Total Coupon 13.22% | Maturity 5/28/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 4,535,000 | 4,535,000 | ||||||
Investment, Identifier [Axis]: Debt Investments | IT Services | Idera, Inc. | Second Lien Term Loan | LIBOR(Q) | Floor Rate 0.75% | Spread 6.75% | Total Coupon 10.50% | Maturity 2/4/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 2,351,183 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 2,351,183 | |||||||
Investment, Identifier [Axis]: Debt Investments | IT Services | Idera, Inc. | Second Lien Term Loan | SOFR(M) | Floor Rate 0.75% | Spread 6.75% | Total Coupon 12.01% | Maturity 2/4/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 2,508,884 | 2,508,884 | ||||||
Investment, Identifier [Axis]: Debt Investments | IT Services | Madison Logic Holdings, Inc. | First Lien Revolver | SOFR(Q) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 12.24% | Maturity 12/30/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | (9,706) | (9,706) | ||||||
Investment, Identifier [Axis]: Debt Investments | IT Services | Madison Logic Holdings, Inc. | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 11.58% | Maturity 12/29/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 4,858,508 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 4,858,508 | |||||||
Investment, Identifier [Axis]: Debt Investments | IT Services | Madison Logic Holdings, Inc. | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 12.24% | Maturity 12/29/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 4,861,350 | 4,861,350 | ||||||
Investment, Identifier [Axis]: Debt Investments | IT Services | Madison Logic Holdings, Inc. | First Lien Term Revolver | SOFR(Q) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 11.58% | Maturity 12/30/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[19] | (10,784) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[19] | (10,784) | |||||||
Investment, Identifier [Axis]: Debt Investments | IT Services | Serrano Parent, LLC (Sumo Logic) | First Lien Revolver | SOFR(Q) | Floor Rate 1.00% | Spread 6.50% | Total Coupon 11.60% | Maturity 5/13/2030 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | (10,943) | (10,943) | ||||||
Investment, Identifier [Axis]: Debt Investments | IT Services | Serrano Parent, LLC (Sumo Logic) | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 6.50% | Total Coupon 11.60% | Maturity 5/13/2030 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 5,970,267 | 5,970,267 | ||||||
Investment, Identifier [Axis]: Debt Investments | Insurance | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 14,213,824 | |||||||
Fair Value, Ending Balance | 14,639,839 | [3],[4],[5] | 14,639,839 | [3],[4],[5] | 14,213,824 | [1],[2],[16] | |||
Investment, Identifier [Axis]: Debt Investments | Insurance | AmeriLife Holdings, LLC | First Lien Delayed Draw Term Loan | SOFR(S) | Floor rate 0.75% | Spread 5.75% | Total Coupon 10.15% | Maturity 8/31/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[19] | 644,711 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[19] | 644,711 | |||||||
Investment, Identifier [Axis]: Debt Investments | Insurance | AmeriLife Holdings, LLC | First Lien Delayed Draw Term Loan | SOFR(S) | Floor rate 0.75% | Spread 5.75% | Total Coupon 10.62% | Maturity 8/31/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | 651,687 | 651,687 | ||||||
Investment, Identifier [Axis]: Debt Investments | Insurance | AmeriLife Holdings, LLC | First Lien Revolver | SOFR(Q) | Floor rate 0.75% | Spread 5.75% | Total Coupon 9.58% | Maturity 8/31/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[19] | (21,124) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[19] | (21,124) | |||||||
Investment, Identifier [Axis]: Debt Investments | Insurance | AmeriLife Holdings, LLC | First Lien Revolver | SOFR(S) | Floor rate 0.75% | Spread 5.75% | Total Coupon 10.99% | Maturity 8/31/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | 69,898 | 69,898 | ||||||
Investment, Identifier [Axis]: Debt Investments | Insurance | AmeriLife Holdings, LLC | First Lien Term Loan | SOFR(Q) | Floor rate 0.75% | Spread 5.75% | Total Coupon 9.58% | Maturity 8/31/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 3,952,760 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 3,952,760 | |||||||
Investment, Identifier [Axis]: Debt Investments | Insurance | AmeriLife Holdings, LLC | First Lien Term Loan | SOFR(S) | Floor rate 0.75% | Spread 5.75% | Total Coupon 10.88% | Maturity 8/31/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 3,974,007 | 3,974,007 | ||||||
Investment, Identifier [Axis]: Debt Investments | Insurance | IT Parent, LLC (Insurance Technologies) | First Lien Revolver | LIBOR(M)/Prime | Floor rate 1.00% | Spread 6.25% | Total Coupon 11.21% | Maturity 10/1/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[19],[39] | 167,083 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[19],[39] | 167,083 | |||||||
Investment, Identifier [Axis]: Debt Investments | Insurance | IT Parent, LLC (Insurance Technologies) | First Lien Revolver | SOFR(M) | Floor rate 1.00% | Spread 6.25% | Total Coupon 11.46% | Maturity 10/1/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 189,833 | 189,833 | ||||||
Investment, Identifier [Axis]: Debt Investments | Insurance | IT Parent, LLC (Insurance Technologies) | First Lien Term Loan | LIBOR(M) | Floor rate 1.00% | Spread 6.25% | Total Coupon 10.63% | Maturity 10/1/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 1,807,963 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 1,807,963 | |||||||
Investment, Identifier [Axis]: Debt Investments | Insurance | IT Parent, LLC (Insurance Technologies) | First Lien Term Loan | SOFR(M) | Floor rate 1.00% | Spread 6.25% | Total Coupon 11.45% | Maturity 10/1/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 1,781,425 | 1,781,425 | ||||||
Investment, Identifier [Axis]: Debt Investments | Insurance | Integrity Marketing Acquisition, LLC | First Lien Incremental Revolver | SOFR(M) | Floor rate 0.75% | Spread 6.50% | Total Coupon 10.82% | Maturity 8/27/2025 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[19] | (41,342) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[19] | (41,342) | |||||||
Investment, Identifier [Axis]: Debt Investments | Insurance | Integrity Marketing Acquisition, LLC | First Lien Incremental Revolver | SOFR(Q) | Floor rate 0.75% | Spread 6.50% | Total Coupon 11.76% | Maturity 8/27/2025 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | (20,671) | (20,671) | ||||||
Investment, Identifier [Axis]: Debt Investments | Insurance | Integrity Marketing Acquisition, LLC | First Lien Incremental Term Loan | SOFR(M) | Floor rate 0.75% | Spread 6.50% | Total Coupon 10.82% | Maturity 8/27/2025 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 5,126,411 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 5,126,411 | |||||||
Investment, Identifier [Axis]: Debt Investments | Insurance | Integrity Marketing Acquisition, LLC | First Lien Incremental Term Loan | SOFR(Q) | Floor rate 0.75% | Spread 6.50% | Total Coupon 11.76% | Maturity 8/27/2025 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 5,121,347 | 5,121,347 | ||||||
Investment, Identifier [Axis]: Debt Investments | Insurance | Peter C. Foy & Associates Insurance Services, LLC (PCF Insurance) | First Lien Delayed Draw Term Loan | SOFR(M) | Floor rate 0.75% | Spread 6.00% | Total Coupon 11.22% | Maturity 11/1/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 2,052,205 | 2,052,205 | ||||||
Investment, Identifier [Axis]: Debt Investments | Insurance | Peter C. Foy & Associates Insurance Services, LLC (PCF Insurance) | First Lien Delayed Draw Term Loan | SOFR(S) | Floor rate 0.75% | Spread 6.00% | Total Coupon 11.11% | Maturity 11/1/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[19] | 1,763,340 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[19] | 1,763,340 | |||||||
Investment, Identifier [Axis]: Debt Investments | Insurance | Peter C. Foy & Associates Insurance Services, LLC (PCF Insurance) | First Lien Term Loan | SOFR(M) | Floor rate 0.75% | Spread 6.00% | Total Coupon 11.22% | Maturity 11/1/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 820,108 | 820,108 | ||||||
Investment, Identifier [Axis]: Debt Investments | Insurance | Peter C. Foy & Associates Insurance Services, LLC (PCF Insurance) | First Lien Term Loan | SOFR(S) | Floor rate 0.75% | Spread 6.00% | Total Coupon 11.12% | Maturity 11/1/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 814,022 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 814,022 | |||||||
Investment, Identifier [Axis]: Debt Investments | Internet & Catalog Retail | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 5,670,715 | |||||||
Fair Value, Ending Balance | 6,000,784 | [3],[4],[5],[17] | 6,000,784 | [3],[4],[5],[17] | 5,670,715 | [1],[2],[16],[18] | |||
Investment, Identifier [Axis]: Debt Investments | Internet & Catalog Retail | CommerceHub, Inc. | First Lien Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 6.25% | Total Coupon 11.47% | Maturity 12/29/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 2,075,067 | 2,075,067 | ||||||
Investment, Identifier [Axis]: Debt Investments | Internet & Catalog Retail | Syndigo, LLC | Second Lien Term Loan | LIBOR(Q) | Floor Rate 0.75% | Spread 8.00% | Total Coupon 13.55% | Maturity 12/14/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 3,925,717 | 3,925,717 | ||||||
Investment, Identifier [Axis]: Debt Investments | Internet & Catalog Retail | Syndigo, LLC | Second Lien Term Loan | LIBOR(S) | Floor Rate 0.75% | Spread 8.00% | Total Coupon 13.21% | Maturity 12/14/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 3,598,574 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 3,598,574 | |||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 63,165,311 | |||||||
Fair Value, Ending Balance | 68,711,784 | [3],[4],[5] | 68,711,784 | [3],[4],[5] | 63,165,311 | [1],[2],[16],[18] | |||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Anaconda, Inc. | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 7.50% | Total Coupon 11.86% | Maturity 8/22/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 1,911,811 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 1,911,811 | |||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Anaconda, Inc. | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 7.50% | Total Coupon 12.73% | Maturity 8/22/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 1,902,116 | 1,902,116 | ||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Astra Acquisition Corp. (Anthology) | Second Lien Term Loan | LIBOR(M) | Floor Rate 0.75% | Spread 8.88% | Total Coupon 13.26% | Maturity 10/25/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 6,376,709 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 6,376,709 | |||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Astra Acquisition Corp. (Anthology) | Second Lien Term Loan | SOFR(M) | Floor Rate 0.75% | Spread 8.88% | Total Coupon 14.09% | Maturity 10/25/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 3,851,103 | 3,851,103 | ||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Bynder Bidco B.V. (Netherlands) | First Lien Revolver A | SOFR(S) | Floor Rate 1.00% | Spread 7.25% | Total Coupon 12.05% | Maturity 1/26/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | (2,912) | (2,912) | ||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Bynder Bidco B.V. (Netherlands) | First Lien Revolver B | SOFR(S) | Floor Rate 1.00% | Spread 7.25% | Total Coupon 12.05% | Maturity 1/26/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | (10,568) | (10,568) | ||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Bynder Bidco B.V. (Netherlands) | First Lien Term Loan B | SOFR(S) | Floor Rate 1.00% | Spread 7.25% | Total Coupon 12.05% | Maturity 1/26/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 4,523,308 | 4,523,308 | ||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Bynder Bidco, Inc. (Netherlands) | First Lien Term Loan A | SOFR(S) | Floor Rate 1.00% | Spread 7.25% | Total Coupon 12.05% | Maturity 1/26/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 1,247,809 | 1,247,809 | ||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | CommerceHub, Inc. | First Lien Term Loan | Quarterly LIBOR | Floor Rate 1.00% | Spread 6.00% | Total Coupon 10.41% | Maturity 11/7/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 2,072,141 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 2,072,141 | |||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Gympass US, LLC | First Lien Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 4.00% cash+ 4.00% PIK | Total Coupon 13.26% | Maturity 7/8/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 1,942,490 | 1,942,490 | ||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Gympass US, LLC | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 4.00% cash+ 4.00% PIK | Total Coupon 12.77% | Maturity 7/8/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[27] | 1,890,061 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[27] | 1,890,061 | |||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | InMoment, Inc. | First Lien Term Loan | SOFR(S) | Floor Rate 0.75% | Spread 5.00% cash+ 2.50% PIK | Total Coupon 11.58% | Maturity 6/8/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[27] | 11,195,739 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[27] | 11,195,739 | |||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | InMoment, Inc. | First Lien Term Loan | SOFR(S) | Floor Rate 0.75% | Spread 5.00% cash+ 2.50% PIK | Total Coupon 12.34% | Maturity 6/8/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 11,327,243 | 11,327,243 | ||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Magenta Buyer, LLC (McAfee) | First Lien Incremental Term Loan | Fixed | Spread 12.00% | Total Coupon 12.00% | Maturity 7/27/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[29] | 620,404 | |||||||
Fair Value, Ending Balance | 1,055,949 | [3],[4],[5],[17] | 1,055,949 | [3],[4],[5],[17] | 620,404 | [1],[2],[16],[18],[29] | |||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Magenta Buyer, LLC (McAfee) | Second Lien Term Loan | LIBOR(Q) | Floor Rate 0.75% | Spread 8.25% | Total Coupon 12.67% | Maturity 7/27/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[29] | 5,483,310 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[29] | 5,483,310 | |||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Magenta Buyer, LLC (McAfee) | Second Lien Term Loan | LIBOR(Q) | Floor Rate 0.75% | Spread 8.25% | Total Coupon 13.53% | Maturity 7/27/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 4,515,000 | 4,515,000 | ||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Oranje Holdco, Inc. (KnowBe4) | First Lien Revolver | SOFR(Q) | Floor Rate 1.00% | Spread 7.75% | Total Coupon 12.79% | Maturity 2/1/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | (7,507) | (7,507) | ||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Oranje Holdco, Inc. (KnowBe4) | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 7.75% | Total Coupon 12.79% | Maturity 2/1/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 3,276,351 | 3,276,351 | ||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Persado, Inc. | First Lien Delayed Draw Term Loan (6.575% Exit Fee) | SOFR(M) | Floor Rate 1.80% | Spread 7.00% | Total Coupon 11.12% | Maturity 6/10/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[19] | 1,111,570 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[19] | 1,111,570 | |||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Persado, Inc. | First Lien Delayed Draw Term Loan (6.575% Exit Fee) | SOFR(M) | Floor Rate 1.80% | Spread 7.50% | Total Coupon 12.66% | Maturity 6/10/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 1,216,563 | 1,216,563 | ||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Persado, Inc. | First Lien Term Loan (6.575% Exit Fee) | SOFR(M) | Floor Rate 1.80% | Spread 7.00% | Total Coupon 11.12% | Maturity 6/10/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 5,518,783 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 5,518,783 | |||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Persado, Inc. | First Lien Term Loan (6.575% Exit Fee) | SOFR(M) | Floor Rate 1.80% | Spread 7.50% | Total Coupon 12.66% | Maturity 6/10/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 4,539,804 | 4,539,804 | ||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Pluralsight, Inc. | First Lien Revolver | LIBOR(M) | Floor Rate 1.00% | Spread 8.00% | Total Coupon 12.36% | Maturity 4/6/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[19] | 428,899 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[19] | 428,899 | |||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Pluralsight, Inc. | First Lien Revolver | SOFR(Q) | Floor Rate 1.00% | Spread 8.00% | Total Coupon 13.04% | Maturity 4/6/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 422,386 | 422,386 | ||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Pluralsight, Inc. | First Lien Term Loan | LIBOR(Q) | Floor Rate 1.00% | Spread 8.00% | Total Coupon 11.83% | Maturity 4/6/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[19] | 11,598,919 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[19] | 11,598,919 | |||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Pluralsight, Inc. | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 8.00% | Total Coupon 13.04% | Maturity 4/6/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 11,514,431 | 11,514,431 | ||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Quartz Holding Company (Quick Base) | Second Lien Term Loan | LIBOR(M) | Floor | Spread 8.00% | Total Coupon 12.38% | Maturity 4/2/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 5,358,595 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 5,358,595 | |||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Quartz Holding Company (Quick Base) | Second Lien Term Loan | SOFR(M) | Spread 8.00% | Total Coupon 13.20% | Maturity 4/2/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 5,485,393 | 5,485,393 | ||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Reveal Data Corporation et al | First Lien FILO Term Loan | SOFR(S) | Floor Rate 1.00% | Spread 6.50% | Total Coupon 10.22% | Maturity 3/9/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 2,743,905 | 2,743,905 | ||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Reveal Data Corporation et al | First Lien FILO Term Loan | SOFR(S) | Floor Rate 1.00% | Spread 6.50% | Total Coupon 9.92% | Maturity 3/9/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 2,721,951 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 2,721,951 | |||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Sailpoint Technologies Holdings, Inc. | First Lien Revolver | SOFR(M) | Floor Rate 0.75% | Spread 6.25% | Total Coupon 10.58% | Maturity 8/16/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[19] | (9,712) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[19] | (9,712) | |||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Sailpoint Technologies Holdings, Inc. | First Lien Revolver | SOFR(M) | Floor Rate 0.75% | Spread 6.25% | TotalCoupon 11.35% | Maturity 8/16/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | (2,470) | (2,470) | ||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Sailpoint Technologies Holdings, Inc. | First Lien Term Loan | SOFR(M) | Floor Rate 0.75% | Spread 6.25% | Total Coupon 10.58% | Maturity 8/16/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 3,987,129 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 3,987,129 | |||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Sailpoint Technologies Holdings, Inc. | First Lien Term Loan | SOFR(M) | Floor Rate 0.75% | Spread 6.25% | Total Coupon 11.35% | Maturity 8/16/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 4,085,810 | 4,085,810 | ||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Spartan Bidco Pty Ltd (StarRez) (Australia) | First Lien Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 0.75% cash + 6.25% PIK | Total Coupon 12.22% | Maturity 1/24/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 3,895,648 | 3,895,648 | ||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Spartan Bidco Pty Ltd (StarRez) (Australia) | First Lien Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 0.75% cash + 6.50% PIK | Total Coupon 11.46% | Maturity 1/24/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[23],[27],[37] | 3,736,760 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[23],[27],[37] | 3,736,760 | |||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Suited Connector, LLC | First Lien Delayed Draw Term Loan | LIBOR(S) | Floor Rate 1.00% | Spread 6.00% | Total Coupon 10.92% | Maturity 12/1/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[19] | (67,500) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[19] | (67,500) | |||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Suited Connector, LLC | First Lien Revolver | LIBOR(S) | Floor Rate 1.00% | Spread 6.00% | Total Coupon 10.98% | Maturity 12/1/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 182,273 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 182,273 | |||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Suited Connector, LLC | First Lien Revolver | SOFR(S) | Floor Rate 1.00% | Spread 6.00% Cash + 2.00% PIK | Total Coupon 13.36% | Maturity 12/1/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 168,449 | 168,449 | ||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Suited Connector, LLC | First Lien Term Loan | LIBOR(S) | Floor Rate 1.00% | Spread 6.00% | Total Coupon 10.92% | Maturity 12/1/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 1,119,610 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 1,119,610 | |||||||
Investment, Identifier [Axis]: Debt Investments | Internet Software & Services | Suited Connector, LLC | First Lien Term Loan | SOFR(S) | Floor Rate 1.00% | Spread 6.00% cash + 2.00% PIK | Total Coupon 13.31% | Maturity 12/1/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[24] | 1,021,483 | 1,021,483 | ||||||
Investment, Identifier [Axis]: Debt Investments | Leisure Products | Peloton Interactive, Inc. | First Lien Term Loan | SOFR(S) | Floor Rate 0.50% | Spread 7.00% | Total Coupon 11.76% | Maturity 5/25/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[18],[22],[29] | 2,581,119 | |||||||
Fair Value, Ending Balance | [1],[2],[18],[22],[29] | 2,581,119 | |||||||
Investment, Identifier [Axis]: Debt Investments | Leisure Products | Peloton Interactive, Inc. | First Lien Term Loan | SOFR(S) | Floor Rate 0.50% | Spread 7.00% | Total Coupon 12.26% | Maturity 5/25/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 2,605,251 | 2,605,251 | ||||||
Investment, Identifier [Axis]: Debt Investments | Life Sciences Tools & Services | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [16] | 2,108,529 | |||||||
Fair Value, Ending Balance | 2,164,614 | [3],[4],[5],[17] | 2,164,614 | [3],[4],[5],[17] | 2,108,529 | [16] | |||
Investment, Identifier [Axis]: Debt Investments | Life Sciences Tools & Services | Alcami Corporation | First Lien Delayed Draw Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 11.42% | Maturity 12/21/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [16],[19] | (6,423) | |||||||
Fair Value, Ending Balance | [16],[19] | (6,423) | |||||||
Investment, Identifier [Axis]: Debt Investments | Life Sciences Tools & Services | Alcami Corporation | First Lien Revolver | SOFR(M) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 11.42% | Maturity 12/21/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [16],[19] | (10,277) | |||||||
Fair Value, Ending Balance | [16],[19] | (10,277) | |||||||
Investment, Identifier [Axis]: Debt Investments | Life Sciences Tools & Services | Alcami Corporation | First Lien Revolver | SOFR(M) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 12.20% | Maturity 12/21/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | (2,936) | (2,936) | ||||||
Investment, Identifier [Axis]: Debt Investments | Life Sciences Tools & Services | Alcami Corporation | First Lien Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 11.42% | Maturity 12/21/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [2],[16] | 2,125,229 | |||||||
Fair Value, Ending Balance | [2],[16] | 2,125,229 | |||||||
Investment, Identifier [Axis]: Debt Investments | Life Sciences Tools & Services | Alcami Corporation | First Lien Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 12.20% | Maturity12/21/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 2,169,385 | 2,169,385 | ||||||
Investment, Identifier [Axis]: Debt Investments | Life Sciences Tools & Services| Alcami Corporation | First Lien Delayed Draw Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 12.20%| Maturity 12/21/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | (1,835) | (1,835) | ||||||
Investment, Identifier [Axis]: Debt Investments | Machinery | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 5,338,545 | |||||||
Fair Value, Ending Balance | 6,072,276 | [3],[4],[5],[17] | 6,072,276 | [3],[4],[5],[17] | 5,338,545 | [1],[2],[16] | |||
Investment, Identifier [Axis]: Debt Investments | Machinery Sonnys Enterprises, LLC | First Lien Delayed Draw Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 6.75% | Total Coupon 10.99% | Maturity 8/5/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 3,894,050 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 3,894,050 | |||||||
Investment, Identifier [Axis]: Debt Investments | Machinery Sonnys Enterprises, LLC | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 6.75% | Total Coupon 10.99% | Maturity 8/5/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 1,444,495 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 1,444,495 | |||||||
Investment, Identifier [Axis]: Debt Investments | Machinery | Sonnys Enterprises, LLC | First Lien Delayed Draw Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 6.75% | Total Coupon 11.96% | Maturity 8/5/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | (3,886) | (3,886) | ||||||
Investment, Identifier [Axis]: Debt Investments | Machinery | Sonnys Enterprises, LLC | First Lien Revolver | SOFR(Q) | Floor Rate 1.00% | Spread 6.75% | Total Coupon 11.96% | Maturity 8/5/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | (3,368) | (3,368) | ||||||
Investment, Identifier [Axis]: Debt Investments | Machinery | Sonnys Enterprises, LLC | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 6.75% | Total Coupon 11.96% | Maturity 8/5/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 6,079,530 | 6,079,530 | ||||||
Investment, Identifier [Axis]: Debt Investments | Media | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 5,969,099 | |||||||
Fair Value, Ending Balance | 6,515,746 | [3],[4],[5],[17] | 6,515,746 | [3],[4],[5],[17] | 5,969,099 | [1],[2],[16] | |||
Investment, Identifier [Axis]: Debt Investments | Media | NEP Group, Inc. et al | First Lien Term Loan | SOFR(M) | Spread 3.75% | Total Coupon 8.47% | Maturity 10/20/2025 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [4],[5],[17] | 589,949 | 589,949 | ||||||
Investment, Identifier [Axis]: Debt Investments | Media | NEP Group, Inc. et al | Second Lien Term Loan | SOFR(M) | Spread 7.00% | Total Coupon 12.22% | Maturity 10/19/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 2,248,353 | 2,248,353 | ||||||
Investment, Identifier [Axis]: Debt Investments | Media | NEP II, Inc. | Second Lien Term Loan | LIBOR(M) | Spread 7.00% | Total Coupon 11.38% | Maturity 10/19/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[29] | 2,274,441 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[29] | 2,274,441 | |||||||
Investment, Identifier [Axis]: Debt Investments | Media | Streamland Media Midco LLC | First Lien Delayed Draw Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 6.75% | Total Coupon 11.11% | Maturity 8/31/2023 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[19] | (5,520) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[19] | (5,520) | |||||||
Investment, Identifier [Axis]: Debt Investments | Media | Streamland Media Midco LLC | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 6.75% | Total Coupon 11.11% | Maturity 8/31/2023 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 361,614 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 361,614 | |||||||
Investment, Identifier [Axis]: Debt Investments | Media | Streamland Media Midco LLC | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 6.75% | Total Coupon 12.06% | Maturity 8/31/2023 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 362,064 | 362,064 | ||||||
Investment, Identifier [Axis]: Debt Investments | Media | Terraboost Media Operating Company, LLC | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 6.50% | Total Coupon 11.89 % | Maturity 8/23/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 3,315,380 | 3,315,380 | ||||||
Investment, Identifier [Axis]: Debt Investments | Media | Terraboost Media Operating Company, LLC | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 6.50% | Total Coupon 8.14 % | Maturity 8/23/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 3,338,564 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 3,338,564 | |||||||
Investment, Identifier [Axis]: Debt Investments | Metals & Mining | Kemmerer Operations, LLC (WMLP) | First Lien Term Loan | Fixed | Floor Rate 0.00% | Spread 15.00% PIK | Total Coupon 15.00 % | Maturity 6/21/2023 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[19],[27],[37] | 1,956,190 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[19],[27],[37] | 1,956,190 | |||||||
Investment, Identifier [Axis]: Debt Investments | Paper & Forest Products | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 9,547,415 | |||||||
Fair Value, Ending Balance | 13,251,641 | [3],[4],[5],[17] | 13,251,641 | [3],[4],[5],[17] | 9,547,415 | [1],[2],[16] | |||
Investment, Identifier [Axis]: Debt Investments | Paper & Forest Products | Alpine Acquisition Corp II (48Forty) | First Lien Revolver | SOFR(M) | Floor Rate 1.00% | Spread 5.75% | Total Coupon 11.01% | Maturity 11/30/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 114,844 | 114,844 | ||||||
Investment, Identifier [Axis]: Debt Investments | Paper & Forest Products | Alpine Acquisition Corp II (48Forty) | First Lien Revolver | SOFR(Q) | Floor Rate 1.00% | Spread 5.50% | Total Coupon 9.76 % | Maturity 11/30/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[19] | (32,229) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[19] | (32,229) | |||||||
Investment, Identifier [Axis]: Debt Investments | Paper & Forest Products | Alpine Acquisition Corp II (48Forty) | First Lien Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 5.75% | Total Coupon 11.01% | Maturity 11/30/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 9,726,761 | 9,726,761 | ||||||
Investment, Identifier [Axis]: Debt Investments | Paper & Forest Products | Alpine Acquisition Corp II (48Forty) | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 5.50% | Total Coupon 9.76 % | Maturity 11/30/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 9,579,644 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 9,579,644 | |||||||
Investment, Identifier [Axis]: Debt Investments | Paper & Forest Products | FSK Pallet Holding Corp. (Kamps) | First Lien Term Loan | SOFR(Q) | Floor Rate 1.25% | Spread 6.00% | Total Coupon 11.04% | Maturity 12/23/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 3,410,036 | 3,410,036 | ||||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 40,804,744 | |||||||
Fair Value, Ending Balance | 41,119,851 | [3],[4],[5],[17] | 41,119,851 | [3],[4],[5],[17] | 40,804,744 | [1],[2],[16] | |||
Investment, Identifier [Axis]: Debt Investments | Professional Services | DTI Holdco, Inc. (Epiq Systems, Inc.) | Second Lien Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 7.75% | Total Coupon 11.84% | Maturity 4/26/2030 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[29] | 4,586,000 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[29] | 4,586,000 | |||||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | GI Consilio Parent, LLC | Second Lien Term Loan | LIBOR(M) | Floor Rate 0.50% | Spread 7.50% | Total Coupon 11.88% | Maturity 5/14/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 4,795,000 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 4,795,000 | |||||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | GI Consilio Parent, LLC | Second Lien Term Loan | LIBOR(M) | Floor Rate 0.50% | Spread 7.50% | Total Coupon 12.69% | Maturity 5/14/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 4,885,000 | 4,885,000 | ||||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | ICIMS, Inc. | First Lien Delayed Draw Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 3.38% Cash + 3.88% PIK | Total Coupon 11.52% | Maturity 8/18/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[19],[27] | (111,339) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[19],[27] | (111,339) | |||||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | ICIMS, Inc. | First Lien Delayed Draw Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 3.38% Cash + 3.88% PIK | Total Coupon 12.38% | Maturity 8/18/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20],[24] | 200,772 | 200,772 | ||||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | ICIMS, Inc. | First Lien Revolver | SOFR(Q) | Floor Rate 0.75% | Spread 6.75% | Total Coupon 11.02% | Maturity 8/18/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | (39,921) | |||||||
Fair Value, Ending Balance | [1],[2],[16] | (39,921) | |||||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | ICIMS, Inc. | First Lien Revolver | SOFR(Q) | Floor Rate 0.75% | Spread 6.75% | Total Coupon 11.99% | Maturity 8/18/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | 168,534 | 168,534 | ||||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | ICIMS, Inc. | First Lien Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 3.38% Cash + 3.88% PIK | Total Coupon 12.38% | Maturity 8/18/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[24] | 10,982,609 | 10,982,609 | ||||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | ICIMS, Inc. | First Lien Term Loan | SOFR(Q) | Floor Rate 0.75% |Spread 3.38% Cash + 3.88% PIK | Total Coupon 11.52% | Maturity 8/18/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[27] | 10,640,854 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[27] | 10,640,854 | |||||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | JobandTalent USA, Inc. (United Kingdom) | First Lien Delayed Draw Term Loan (3.0% Exit Fee) | SOFR | Floor Rate 1.00% | Spread 8.75 % | Total Coupon 13.19% | Maturity 2/17/2025 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 5,172,800 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 5,172,800 | |||||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | JobandTalent USA, Inc. (United Kingdom) | First Lien Delayed Draw Term Loan (3.0% Exit Fee) | SOFR(M) | Floor Rate 1.00% | Spread 8.75% | Total Coupon 13.96% | Maturity 2/17/2025 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[25],[26] | 5,194,000 | 5,194,000 | ||||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | JobandTalent USA, Inc. (United Kingdom) | First Lien Term Loan (3.0% Exit Fee) | SOFR(M) | Floor Rate 1.00% | Spread 8.75 % | Total Coupon 13.19% | Maturity 2/17/2025 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 9,655,071 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 9,655,071 | |||||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | JobandTalent USA, Inc. (United Kingdom) | First Lien Term Loan (3.0% Exit Fee) | SOFR(M) | Floor Rate 1.00% | Spread 8.75% | Total Coupon 13.96% | Maturity 2/17/2025 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[25],[26] | 9,694,641 | 9,694,641 | ||||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | RigUp, Inc. | First Lien Delayed Draw Term Loan (4.0% Exit Fee) | LIBOR(M) | Floor Rate 1.50% | Spread 7.00% | Total Coupon 11.81% | Maturity 3/1/2024 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 492,500 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 492,500 | |||||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | TLE Holdings, LLC | First Lien Delayed Draw Term Loan | LIBOR(M) | Floor Rate 1.00% | Spread 5.50% | Total Coupon 9.88% | Maturity 6/28/2024 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 936,369 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 936,369 | |||||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | TLE Holdings, LLC | First Lien Delayed Draw Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 5.50% | Total Coupon 10.70% | Maturity 6/28/2024 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 953,425 | 953,425 | ||||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | TLE Holdings, LLC | First Lien Term Loan | LIBOR(M) | Floor Rate 1.00% | Spread 5.50% | Total Coupon 9.88% | Maturity 6/28/2024 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 3,658,003 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 3,658,003 | |||||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | TLE Holdings, LLC | First Lien Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 5.50% | Total Coupon 10.70% | Maturity 6/28/2024 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 3,724,359 | 3,724,359 | ||||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | VT TopCo, Inc. (Veritext) | Second Lien Term Loan | LIBOR(M) | Floor Rate 0.75% | Spread 6.75% | Total Coupon 11.13% | Maturity 8/4/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 1,019,407 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 1,019,407 | |||||||
Investment, Identifier [Axis]: Debt Investments | Professional Services | VT TopCo, Inc. (Veritext) | Second Lien Term Loan | SOFR(M) | Floor Rate 0.75% | Spread 6.75% | Total Coupon 11.97% | Maturity 8/4/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 1,010,091 | 1,010,091 | ||||||
Investment, Identifier [Axis]: Debt Investments | Professional Services| DTI Holdco, Inc. (Epiq Systems, Inc.) | Second Lien Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 7.75% | Total Coupon 12.80% | Maturity 04/26/2030 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 4,306,420 | 4,306,420 | ||||||
Investment, Identifier [Axis]: Debt Investments | Real Estate Management & Development | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 6,300,500 | |||||||
Fair Value, Ending Balance | 6,448,733 | [3],[4],[5],[17] | 6,448,733 | [3],[4],[5],[17] | 6,300,500 | [1],[2],[16] | |||
Investment, Identifier [Axis]: Debt Investments | Real Estate Management & Development | Greystone Affordable Housing Initiatives, LLC | First Lien Delayed Draw Term Loan | LIBOR(S) | Floor Rate 1.25% | Spread 6.00% | Total Coupon 11.14% | Maturity 3/2/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[25] | 1,846,133 | 1,846,133 | ||||||
Investment, Identifier [Axis]: Debt Investments | Real Estate Management & Development | Greystone Affordable Housing Initiatives, LLC | First Lien Delayed Draw Term Loan | LIBOR(S) | Floor Rate 1.25% | Spread 6.00% | Total Coupon 9.05% | Maturity 3/2/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 1,844,267 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 1,844,267 | |||||||
Investment, Identifier [Axis]: Debt Investments | Real Estate Management & Development | Greystone Select Company II, LLC (Passco) | First Lien Delayed Draw Term Loan | SOFR(M) | Floor Rate 1.50% | Spread 6.50% | Total Coupon 10.94% | Maturity 3/21/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | (121,195) | |||||||
Fair Value, Ending Balance | [1],[2],[16] | (121,195) | |||||||
Investment, Identifier [Axis]: Debt Investments | Real Estate Management & Development | Greystone Select Company II, LLC (Passco) | First Lien Term Loan | SOFR(M) | Floor Rate 1.50% | Spread 6.50% | Total Coupon 10.94% | Maturity 3/21/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 4,577,428 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 4,577,428 | |||||||
Investment, Identifier [Axis]: Debt Investments | Real Estate Management & Development | Greystone Select Company II, LLC (Passco) | First Lien Term Loan | SOFR(M) | Floor Rate 1.50% | Spread 6.50% | Total Coupon 11.72% | Maturity 3/21/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 4,602,600 | 4,602,600 | ||||||
Investment, Identifier [Axis]: Debt Investments | Road & Rail | Motive Technologies, Inc. (fka Keep Truckin, Inc.) | First Lien Term Loan | SOFR(S) | Floor Rate 1.00% | Spread 7.25% | Total Coupon 11.03% | Maturity 4/8/2025 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 14,895,000 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 14,895,000 | |||||||
Investment, Identifier [Axis]: Debt Investments | Road & Rail | Motive Technologies, Inc. (fka Keep Truckin, Inc.) | First Lien Term Loan | SOFR(S) | Floor Rate 1.00% | Spread 7.25% | Total Coupon 12.77% | Maturity 4/8/2025 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 14,850,000 | 14,850,000 | ||||||
Investment, Identifier [Axis]: Debt Investments | Semiconductors & Semiconductor Equipment | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 2,053,600 | |||||||
Fair Value, Ending Balance | 2,146,398 | [3],[4],[5],[17] | 2,146,398 | [3],[4],[5],[17] | 2,053,600 | [1],[2],[16] | |||
Investment, Identifier [Axis]: Debt Investments | Semiconductors & Semiconductor Equipment | Emerald Technologies (U.S.) AcquisitionCo, Inc | First Lien Revolver | SOFR(M) | Floor Rate 1.00% | Spread 6.00% | Total Coupon 10.42% | Maturity 12/29/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 268,505 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 268,505 | |||||||
Investment, Identifier [Axis]: Debt Investments | Semiconductors & Semiconductor Equipment | Emerald Technologies (U.S.) AcquisitionCo, Inc | First Lien Revolver | SOFR(M) | Floor Rate 1.00% | Spread 6.00% | Total Coupon 11.22% | Maturity 12/29/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | 365,295 | 365,295 | ||||||
Investment, Identifier [Axis]: Debt Investments | Semiconductors & Semiconductor Equipment | Emerald Technologies (U.S.) AcquisitionCo, Inc | First Lien Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 6.25% | Total Coupon 10.67% | Maturity 12/29/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 1,785,095 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 1,785,095 | |||||||
Investment, Identifier [Axis]: Debt Investments | Semiconductors & Semiconductor Equipment | Emerald Technologies (U.S.) AcquisitionCo, Inc | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 6.25% | Total Coupon 11.66% | Maturity 12/29/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[28] | 1,781,103 | 1,781,103 | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 86,430,992 | |||||||
Fair Value, Ending Balance | 102,686,951 | [3],[4],[5],[17] | 102,686,951 | [3],[4],[5],[17] | 86,430,992 | [1],[2],[16],[18] | |||
Investment, Identifier [Axis]: Debt Investments | Software Disco Parent, Inc. (Duck Creek Technologies) | First Lien Revolver | SOFR(Q) | Floor Rate 1.00% | Spread 7.50% | Total Coupon 12.76% | Maturity 3/30/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | (8,210) | (8,210) | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Aerospike, Inc. | First Lien Delayed Draw Term Loan (0.50% Exit Fee) | SOFR(M) | Floor Rate 1.00% | Spread 7.50% | Total Coupon 12.72% | Maturity 12/29/2025 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | 1,040,367 | 1,040,367 | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Aerospike, Inc. | First Lien Term Loan (0.50% Exit Fee) | SOFR(M) | Floor Rate 1.00% | Spread 7.50% | Total Coupon 12.72% | Maturity 12/29/2025 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 2,384,723 | 2,384,723 | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Aerospike, Inc. | First Lien Term Loan | LIBOR(M) | Floor Rate 1.00% | Spread 7.50% | Total Coupon 11.88% | Maturity 12/29/2025 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 2,375,297 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 2,375,297 | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | AlphaSense, Inc | First Lien Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 11.44% | Maturity 3/11/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 8,594,961 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 8,594,961 | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | AlphaSense, Inc. | First Lien Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 12.19% | Maturity 3/11/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 8,666,947 | 8,666,947 | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Aras Corporation | First Lien Revolver | LIBOR(Q)/(S) | Floor Rate 1.00% | Spread 6.50 | Total Coupon 11.66 % | Maturity 4/13/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 194,627 | 194,627 | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Aras Corporation | First Lien Term Loan | LIBOR(Q) | Floor Rate 1.00% | Spread 3.50% Cash + 3.25% PIK | Total Coupon 11.99% | Maturity 4/13/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[24] | 4,377,829 | 4,377,829 | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Aras Corporation | First Lien Term Loan | LIBOR(Q) |Floor Rate 1.00% | Spread 3.25% Cash + 3.75% PIK | Total Coupon 10.94% | Maturity 4/13/2022 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 4,273,786 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 4,273,786 | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | Aras Corporation |First Lien Revolver | LIBOR(S) | Floor Rate 1.00% | Spread 6.50% | Total Coupon 9.50% | Maturity 4/13/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 90,710 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 90,710 | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | Backoffice Associates Holdings, LLC (Syniti) | First Lien Revolver | PRIME | Floor Rate 1.00% | Spread 6.75 | Total Coupon 15.00% | Maturity 4/30/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | 657,055 | 657,055 | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Backoffice Associates Holdings, LLC (Syniti) | First Lien Revolver | PRIME | Floor Rate 1.00% | Spread 6.75% | Total Coupon 14.25% | Maturity 4/30/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 501,333 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 501,333 | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | Backoffice Associates Holdings, LLC (Syniti) | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 7.75% | Total Coupon 12.00% | Maturity 4/30/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 4,816,153 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 4,816,153 | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | Backoffice Associates Holdings, LLC (Syniti) | First Lien Term Loan | SOFR(S) | Floor Rate 1.00% | Spread 7.75 | Total Coupon 13.03% | Maturity 4/30/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 4,896,278 | 4,896,278 | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Bluefin Holding, LLC (BlackMountain) | Second Lien Term Loan | LIBOR(Q) | Spread 7.75 | Total Coupon 13.23% | Maturity 9/3/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 4,674,868 | 4,674,868 | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Bluefin Holding, LLC (BlackMountain) | Second Lien Term Loan | LIBOR(Q) | Spread 7.75% | Total Coupon 12.48% | Maturity 9/3/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 4,756,630 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 4,756,630 | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | Bonterra LLC (fka CyberGrants Holdings, LLC) | First Lien Delayed Draw Term Loan | LIBOR(Q) | Floor Rate 0.75% | Spread 6.00% | Total Coupon 11.79% | Maturity 9/8/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | 73,362 | 73,362 | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Bonterra LLC (fka CyberGrants Holdings, LLC) | First Lien Delayed Draw Term Loan | LIBOR(Q) | Floor Rate 0.75% | Spread 6.25% | Total Coupon 10.98% | Maturity 9/8/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 46,158 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 46,158 | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | Bonterra LLC (fka CyberGrants Holdings, LLC) | First Lien Revolver | LIBOR(Q) | Floor Rate 0.75% | Spread 6.00% | Total Coupon 11.72% | Maturity 9/8/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | 265,505 | 265,505 | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Bonterra LLC (fka CyberGrants Holdings, LLC) | First Lien Revolver | LIBOR(Q) | Floor Rate 0.75% | Spread 6.25% | Total Coupon 10.98% | Maturity 9/8/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 94,783 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 94,783 | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | Bonterra LLC (fka CyberGrants Holdings, LLC) | First Lien Term Loan | LIBOR(Q) | Floor 0.75% | Spread 6.00% | Total Coupon 11.79% | Maturity 9/8/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 2,753,717 | 2,753,717 | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Bonterra LLC (fka CyberGrants Holdings, LLC) | First Lien Term Loan | LIBOR(Q) | Floor Rate 0.75% | Spread 6.25% | Total Coupon 10.98% | Maturity 9/8/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 2,746,350 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 2,746,350 | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | Disco Parent, Inc. (Duck Creek Technologies) | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 7.50% | Total Coupon 12.76% | Maturity 3/30/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 5,049,217 | 5,049,217 | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Elastic Path Software Inc. (Canada) | First Lien Delayed Draw Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 7.50% | Total Coupon 12.12% | Maturity 1/6/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[22],[23] | 951,973 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[22],[23] | 951,973 | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | Elastic Path Software Inc. (Canada) | First Lien Delayed Draw Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 7.50% | Total Coupon 12.99% | Maturity 1/6/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[25],[26] | 958,511 | 958,511 | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Elastic Path Software Inc. (Canada) | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 7.50% | Total Coupon 11.33% | Maturity 1/6/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 1,875,195 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 1,875,195 | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | Elastic Path Software Inc. (Canada) | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 7.50% | Total Coupon 12.70% | Maturity 1/6/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[25],[26] | 1,888,072 | 1,888,072 | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Fusion Risk Management, Inc. | First Lien Revolver | SOFR(Q) | Floor Rate 1.00% | Spread 6.50% | Total Coupon 10.90% | Maturity 8/30/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[19] | (1,220) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[19] | (1,220) | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | Fusion Risk Management, Inc. | First Lien Revolver | SOFR(Q) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 12.13% | Maturity 5/22/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | (10,179) | (10,179) | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Fusion Risk Management, Inc. | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 3.25% Cash + 3.75% PIK | Total Coupon 11.40% | Maturity 8/30/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[27] | 349,821 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[27] | 349,821 | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | Fusion Risk Management, Inc. | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 3.50% Cash + 4.00% PIK | Total Coupon 12.63% | Maturity 5/22/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[24] | 4,379,464 | 4,379,464 | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | GTY Technology Holdings Inc. | First Lien Delayed Draw Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 2.58% Cash + 4.30% PIK | Total Coupon 11.40% | Maturity 7/9/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[27] | 1,464,827 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[27] | 1,464,827 | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | GTY Technology Holdings Inc. | First Lien Revolver | SOFR(Q) | Floor Rate 0.75% | Spread 6.25% | Total Coupon 10.83% | Maturity 7/9/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[19] | (11,160) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[19] | (11,160) | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | GTY Technology Holdings Inc. | First Lien Revolver | SOFR(Q) | Floor Rate 0.75% | Spread 6.25% | Total Coupon 11.47% | Maturity 7/9/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | (2,337) | (2,337) | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | GTY Technology Holdings Inc. | First Lien Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 2.58% Cash + 4.30% PIK | Total Coupon 11.46% | Maturity 7/9/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[27] | 1,896,028 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[27] | 1,896,028 | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | GTY Technology Holdings Inc. | First Lien Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 2.58% Cash + 4.30% PIK | Total Coupon 12.12% | Maturity 7/9/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[24] | 1,988,077 | 1,988,077 | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | GTY Technology Holdings Inc.| First Lien Delayed Draw Term Loan | SOFR(Q) | Floor Rate 0.75% Spread 2.58% Cash + 4.30% PIK | Total Coupon 12.10% | Maturity 7/9/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[24] | 1,536,096 | 1,536,096 | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Grey Orange Incorporated | First Lien Delayed Draw Term Loan (3.75% Exit Fee) | SOFR(Q) | Floor Rate 1.00% | Spread 7.25% | Total Coupon 11.55% | Maturity 5/6/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[19] | 905,004 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[19] | 905,004 | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | Grey Orange Incorporated | First Lien Delayed Draw Term Loan (3.75% Exit Fee) | SOFR(Q)/(S) | Floor Rate 1.00% | Spread 7.25% | Total Coupon 12.58% | Maturity 5/6/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | 1,522,758 | 1,522,758 | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Grey Orange Incorporated | First Lien Term Loan (3.75% Exit Fee) | SOFR(Q) | Floor Rate 1.00% | Spread 7.25% | Total Coupon 12.23% | Maturity 5/6/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 1,520,757 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 1,520,757 | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | Grey Orange Incorporated | First Lien Term Loan (3.75% Exit Fee) | SOFR(Q) | Floor Rate 1.00% | Spread 7.25% | Total Coupon 12.58% | Maturity 5/6/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 1,522,758 | 1,522,758 | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Integrate.com, Inc. (Infinity Data, Inc.) | First Lien Delayed Draw Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 3.00% Cash + 3.00% PIK | Total Coupon 10.28% | Maturity 12/17/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[19],[27] | (8,000) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[19],[27] | (8,000) | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | Integrate.com, Inc. (Infinity Data, Inc.) | First Lien Delayed Draw Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 3.00% Cash + 3.00% PIK | Total Coupon 11.19% | Maturity 12/17/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20],[24] | 90,507 | 90,507 | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Integrate.com, Inc. (Infinity Data, Inc.) | First Lien Revolver | SOFR(M) | Floor Rate 1.00% | Spread 6.00% | Total Coupon 10.28% | Maturity 12/17/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[19] | (4,000) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[19] | (4,000) | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | Integrate.com, Inc. (Infinity Data, Inc.) | First Lien Revolver | SOFR(M) | Floor Rate 1.00% | Spread 6.00% | Total Coupon 11.19% | Maturity 12/17/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | (4,747) | (4,747) | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Integrate.com, Inc. (Infinity Data, Inc.) | First Lien Term Loan | LIBOR(M)/SOFR(M) | Floor Rate 1.00% | Spread 3.00% Cash + 3.00% PIK | Total Coupon 10.34% | Maturity 12/17/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[27],[39] | 1,781,995 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[27],[39] | 1,781,995 | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | Integrate.com, Inc. (Infinity Data, Inc.) | First Lien Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 3.00% Cash + 3.00% PIK | Total Coupon 11.20% | Maturity 12/17/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[21],[24] | 1,799,449 | 1,799,449 | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | JOBVITE, Inc. (Employ, Inc.) | First Lien Term Loan | SOFR(S) | Floor Rate 0.75% | Spread 8.00% | Total Coupon 10.93% | Maturity 8/5/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 6,779,876 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 6,779,876 | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | JOBVITE, Inc. (Employ, Inc.) | First Lien Term Loan | SOFR(S) | Floor Rate 0.75% | Spread 8.00% | Total Coupon 13.07% | Maturity 8/5/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 6,852,152 | 6,852,152 | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Kaseya Inc. | First Lien Delayed Draw Term Loan | SOFR(M) | Floor Rate 0.75% | Spread 3.75% Cash + 2.50% PIK | Total Coupon 11.36% | Maturity 6/25/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 15,471 | 15,471 | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Kaseya Inc. | First Lien Delayed Draw Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 5.75% | Total Coupon 10.33% | Maturity 6/25/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[19] | (13,651) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[19] | (13,651) | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | Kaseya Inc. | First Lien Revolver | SOFR(M) | Floor Rate 0.75% | Spread 3.75% Cash + 2.50% PIK | Total Coupon 11.36% | Maturity 6/25/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 101,474 | 101,474 | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Kaseya Inc. | First Lien Revolver | SOFR(Q) | Floor Rate 0.75% | Spread 5.75% | Total Coupon 10.33% | Maturity 6/25/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[19] | (13,651) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[19] | (13,651) | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | Kaseya Inc. | First Lien Term Loan | SOFR(M) | Floor Rate 0.75% | Spread 3.75% Cash + 2.50% PIK | Total Coupon 11.35% | Maturity 6/25/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 7,243,196 | 7,243,196 | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Kaseya Inc. | First Lien Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 5.75% | Total Coupon 10.33% | Maturity 6/25/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 7,220,864 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 7,220,864 | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | Kong Inc. | First Lien Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 5.50% Cash + 3.25% PIK | Total Coupon 12.99% | Maturity 11/1/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[27] | 2,058,288 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[27] | 2,058,288 | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | Kong Inc. | First Lien Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 5.50% Cash + 3.25% PIK | Total Coupon 14.02% | Maturity 11/1/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[24] | 2,113,949 | 2,113,949 | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Nvest, Inc. (SigFig) | First Lien Term Loan | SOFR(S) | Floor Rate 1.00% | Spread 7.50% | Total Coupon 11.49% | Maturity 9/15/2025 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 2,289,789 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 2,289,789 | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | Nvest, Inc. (SigFig) | First Lien Term Loan | SOFR(S) | Floor Rate 1.00% | Spread 7.50% | Total Coupon 13.15% | Maturity 9/15/2025 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 2,277,572 | 2,277,572 | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Oversight Systems, Inc. | First Lien Delayed Draw Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 7.75% | Total Coupon 14.70% | Maturity 9/24/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | (1,389) | (1,389) | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Oversight Systems, Inc. | First Lien Term Loan | LIBOR(M) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 11.38% | Maturity 9/24/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 1,481,582 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 1,481,582 | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | Oversight Systems, Inc. | First Lien Term Loan | SOFR(M) | Floor Rate 1.00% | Spread 7.75% | Total Coupon 14.70% | Maturity 9/24/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 1,577,392 | 1,577,392 | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | SEP Eiger BidCo Ltd. (Beqom) (Switzerland) | First Lien Revolver | SOFR(Q) | Floor Rate 1.00% | Spread 6.50% | Total Coupon 10.71% | Maturity 5/9/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[19],[22],[23] | (17,476) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[19],[22],[23] | (17,476) | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | SEP Eiger BidCo Ltd. (Beqom) (Switzerland) | First Lien Revolver | SOFR(Q) | Floor Rate 1.00% | Spread 6.50% | Total Coupon 11.54% | Maturity 5/9/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20],[25],[26] | (5,413) | (5,413) | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | SEP Eiger BidCo Ltd. (Beqom) (Switzerland) | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 3.00% Cash + 3.50% PIK | Total Coupon 10.71% | Maturity 5/9/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[22],[23],[27] | 5,477,375 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[22],[23],[27] | 5,477,375 | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | SEP Eiger BidCo Ltd. (Beqom) (Switzerland) | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 3.00% Cash + 3.50% PIK | Total Coupon 11.54% | Maturity 5/9/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[24],[25],[26] | 5,819,252 | 5,819,252 | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | SEP Raptor Acquisition, Inc. (Loopio) (Canada) | First Lien Revolver | LIBOR(Q) | Floor Rate 1.00% | Spread 4.50% Cash + 3.00% PIK | Total Coupon 12.25% | Maturity 3/31/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[19],[22],[23],[27] | (7,373) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[19],[22],[23],[27] | (7,373) | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | SEP Raptor Acquisition, Inc. (Loopio) (Canada) | First Lien Revolver | SOFR(Q) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 12.89% | Maturity 3/31/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20],[25],[26] | (7,373) | (7,373) | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | SEP Raptor Acquisition, Inc. (Loopio) (Canada) | First Lien Term Loan | LIBOR(Q) | Floor Rate 1.00% | Spread 4.50% Cash + 3.00% PIK | Total Coupon 12.25% | Maturity 3/31/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[22],[23],[27] | 3,730,961 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[22],[23],[27] | 3,730,961 | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | SEP Raptor Acquisition, Inc. (Loopio) (Canada) | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 12.89% | Maturity 3/31/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20],[25],[26] | 3,759,254 | 3,759,254 | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Superman Holdings, LLC (Foundation Software) | First Lien 2023 Incremental Delayed Draw Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 5.75% | Total Coupon 10.99% | Maturity 8/31/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | (7,237) | (7,237) | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Superman Holdings, LLC (Foundation Software) | First Lien Revolver | LIBOR(Q) | Floor Rate 1.00% | Spread 6.13% | Total Coupon 10.85% | Maturity 8/31/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[19] | (5,601) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[19] | (5,601) | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | Superman Holdings, LLC (Foundation Software) | First Lien Revolver | SOFR(Q) | Floor Rate 1.00% | Spread 5.75% | Total Coupon 10.99% | Maturity 8/31/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | (6,918) | (6,918) | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Superman Holdings, LLC (Foundation Software) | First Lien Term Loan | LIBOR(Q) | Floor Rate 1.00% | Spread 6.13% | Total Coupon 10.85% | Maturity 8/31/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 4,538,163 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 4,538,163 | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | Superman Holdings, LLC (Foundation Software) | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 5.75% | Total Coupon 10.99% | Maturity 8/31/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 5,927,096 | 5,927,096 | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Syntellis Parent, LLC (Axiom Software) | First Lien Term Loan | SOFR(M) | Floor Rate 0.75% | Spread 6.50% | Total Coupon 10.82% | Maturity 8/2/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 7,422,580 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 7,422,580 | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | Syntellis Parent, LLC (Axiom Software) | First Lien Term Loan | SOFR(M) | Floor Rate 0.75% | Spread 6.50% | Total Coupon 11.60% | Maturity 8/2/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 7,446,117 | 7,446,117 | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Tessian Inc. (United Kingdom) | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 8.00% | Total Coupon 13.26% | Maturity 3/15/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [25],[26] | 2,193,619 | 2,193,619 | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Zendesk, Inc. | First Lien Delayed Draw Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 3.50% Cash + 3.50% PIK | Total Coupon 12.25% | Maturity 11/22/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[24] | (3,893) | (3,893) | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Zendesk, Inc. | First Lien Delayed Draw Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 6.50% | Total Coupon 11.04% | Maturity 11/22/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[19] | (25,952) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[19] | (25,952) | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | Zendesk, Inc. | First Lien Revolver | SOFR(Q) | Floor Rate 0.75% | Spread 6.50% | Total Coupon 11.04% | Maturity 11/22/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[19] | (10,686) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[19] | (10,686) | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | Zendesk, Inc. | First Lien Revolver | SOFR(Q) | Floor Rate 0.75% | Spread 6.50% | Total Coupon 11.75% | Maturity 11/22/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[24] | (1,603) | (1,603) | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Zendesk, Inc. | First Lien Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 3.50% Cash + 3.50% PIK | Total Coupon 12.25% | Maturity 11/22/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[24] | 5,220,062 | 5,220,062 | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Zendesk, Inc. | First Lien Term Loan | SOFR(Q) | Floor Rate 0.75% | Spread 6.50% | Total Coupon 11.04% | Maturity 11/22/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 5,086,547 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 5,086,547 | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | Zilliant Incorporated | First Lien Delayed Draw Term Loan | LIBOR(M) | Floor Rate 0.75% | Spread 2.00% Cash + 4.50% PIK | Total Coupon 10.85% | Maturity 12/21/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[19],[27] | (22,963) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[19],[27] | (22,963) | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | Zilliant Incorporated | First Lien Delayed Draw Term Loan | LIBOR(M) | Floor Rate 0.75% | Spread 2.00% Cash + 4.50% PIK | Total Coupon 11.65% | Maturity 12/21/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20],[24] | (18,889) | (18,889) | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Zilliant Incorporated | First Lien Revolver | LIBOR(M) | Floor Rate 0.75% | Spread 6.00% | Total Coupon 10.35% | Maturity 12/21/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[19] | (9,185) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[19] | (9,185) | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | Zilliant Incorporated | First Lien Revolver | LIBOR(M) | Floor Rate 0.75% | Spread 6.00% | Total Coupon 11.15% | Maturity 12/21/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | (7,556) | (7,556) | ||||||
Investment, Identifier [Axis]: Debt Investments | Software | Zilliant Incorporated | First Lien Term Loan | LIBOR(M) | Floor Rate 0.75% | Spread 2.00% Cash + 4.50% PIK | Total Coupon 10.85% | Maturity 12/21/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[27] | 1,454,124 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[27] | 1,454,124 | |||||||
Investment, Identifier [Axis]: Debt Investments | Software | Zilliant Incorporated | First Lien Term Loan | LIBOR(M) | Floor Rate 0.75% | Spread 2.00% Cash + 4.50% PIK | Total Coupon 11.65% | Maturity 12/21/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[24] | 1,505,902 | 1,505,902 | ||||||
Investment, Identifier [Axis]: Debt Investments | Specialty Retail | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 10,658,045 | 10,658,045 | ||||||
Investment, Identifier [Axis]: Debt Investments | Specialty Retail | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 11,115,033 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 11,115,033 | |||||||
Investment, Identifier [Axis]: Debt Investments | Specialty Retail | Calceus Acquisition, Inc. (Cole Haan) | First Lien Sr Secured Notes | Fixed Spread 9.75% | Total Coupon 9.75% | Maturity 2/19/2025 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 988,000 | 988,000 | ||||||
Investment, Identifier [Axis]: Debt Investments | Specialty Retail | Calceus Acquisition, Inc. (Cole Haan) | First Lien Sr Secured Notes | Fixed | Spread 9.75% | Total Coupon 9.75% | Maturity 2/19/2025 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 916,000 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 916,000 | |||||||
Investment, Identifier [Axis]: Debt Investments | Specialty Retail | Calceus Acquisition, Inc. (Cole Haan) | First Lien Term Loan B | LIBOR(Q) | Spread 5.50% | Total Coupon 10.23% | Maturity 2/12/2025 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[29] | 3,387,070 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[29] | 3,387,070 | |||||||
Investment, Identifier [Axis]: Debt Investments | Specialty Retail | Calceus Acquisition, Inc. (Cole Haan) | First Lien Term Loan B | LIBOR(Q) | Spread 5.50% | Total Coupon 11.04% | Maturity 2/12/2025 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[28] | 3,443,584 | 3,443,584 | ||||||
Investment, Identifier [Axis]: Debt Investments | Specialty Retail | Hanna Andersson, LLC | First Lien Term Loan | LIBOR(M) | Floor Rate 1.00% | Spread 6.00% | Total Coupon 10.29% | Maturity 7/2/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18] | 6,811,963 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18] | 6,811,963 | |||||||
Investment, Identifier [Axis]: Debt Investments | Specialty Retail | Hanna Andersson, LLC | First Lien Term Loan | LIBOR(M) | Floor Rate 1.00% | Spread 6.00% | Total Coupon 11.15% | Maturity 7/2/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 6,226,461 | 6,226,461 | ||||||
Investment, Identifier [Axis]: Debt Investments | Technology Hardware, Storage & Peripherals | SumUp Holdings Luxembourg S.A.R.L. (United Kingdom) | First Lien Delayed Draw Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 11.68% | Maturity 2/17/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[18],[22],[23] | 10,452,514 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[18],[22],[23] | 10,452,514 | |||||||
Investment, Identifier [Axis]: Debt Investments | Technology Hardware, Storage & Peripherals | SumUp Holdings Luxembourg S.A.R.L. (United Kingdom) | First Lien Delayed Draw Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 7.00% | Total Coupon 12.37% | Maturity 2/17/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[25],[26] | 10,691,057 | 10,691,057 | ||||||
Investment, Identifier [Axis]: Debt Investments | Textiles, Apparel & Luxury Goods | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 9,821,542 | |||||||
Fair Value, Ending Balance | 9,912,646 | [3],[4],[5],[17] | 9,912,646 | [3],[4],[5],[17] | 9,821,542 | [1],[2],[16] | |||
Investment, Identifier [Axis]: Debt Investments | Textiles, Apparel & Luxury Goods | James Perse Enterprises, Inc. | First Lien Revolver | SOFR(Q) | Floor Rate 1.00% | Spread 6.25% | Total Coupon 10.93% | Maturity 9/8/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[19] | (5,301) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[19] | (5,301) | |||||||
Investment, Identifier [Axis]: Debt Investments | Textiles, Apparel & Luxury Goods | James Perse Enterprises, Inc. | First Lien Revolver | SOFR(S) | Floor Rate 1.00% | Spread 6.25% | Total Coupon 11.38% | Maturity 9/8/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[20] | 0 | 0 | ||||||
Investment, Identifier [Axis]: Debt Investments | Textiles, Apparel & Luxury Goods | James Perse Enterprises, Inc. | First Lien Term Loan | SOFR(Q) | Floor Rate 1.00% | Spread 6.25% | Total Coupon 10.93% | Maturity 9/8/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 9,826,843 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 9,826,843 | |||||||
Investment, Identifier [Axis]: Debt Investments | Textiles, Apparel & Luxury Goods | James Perse Enterprises, Inc. | First Lien Term Loan | SOFR(S) | Floor Rate 1.00% | Spread 6.25% | Total Coupon 11.38% | Maturity 9/8/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 9,912,646 | 9,912,646 | ||||||
Investment, Identifier [Axis]: Debt Investments | Trading Companies & Distributors | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 3,342,087 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 3,342,087 | |||||||
Investment, Identifier [Axis]: Debt Investments | Trading Companies & Distributors | Blackbird Purchaser, Inc. (Ohio Transmission Corp.) | Second Lien Delayed Draw Term Loan | LIBOR(M) | Floor Rate 0.75% | Spread 7.50% | Total Coupon 11.88% | Maturity 4/8/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[19] | (49,315) | |||||||
Fair Value, Ending Balance | [1],[2],[16],[19] | (49,315) | |||||||
Investment, Identifier [Axis]: Debt Investments | Trading Companies & Distributors | Blackbird Purchaser, Inc. (Ohio Transmission Corp.) | Second Lien Term Loan | LIBOR(M) | Floor Rate 0.75% | Spread 7.50% | Total Coupon 11.88% | Maturity 4/8/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16] | 3,391,402 | |||||||
Fair Value, Ending Balance | [1],[2],[16] | 3,391,402 | |||||||
Investment, Identifier [Axis]: Debt Investments | Trading Companies & Distributors | Blackbird Purchaser, Inc. (Ohio Transmission Corp.) | Second Lien Term Loan | SOFR(M) | Floor Rate 0.75% | Spread 7.50% | Total Coupon 12.70% | Maturity 4/8/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17] | 3,451,925 | 3,451,925 | ||||||
Investment, Identifier [Axis]: Debt Investments | Wireless Telecommunication Services | OpenMarket, Inc. (Infobip) (United Kingdom) | First Lien Term Loan | LIBOR(Q) | Floor Rate 0.75% | Spread 6.25% | Total Coupon 10.98% | Maturity 9/17/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[16],[22],[23] | 4,781,475 | |||||||
Fair Value, Ending Balance | [1],[2],[16],[22],[23] | 4,781,475 | |||||||
Investment, Identifier [Axis]: Debt Investments | Wireless Telecommunication Services | OpenMarket, Inc. (Infobip) (United Kingdom) | First Lien Term Loan | LIBOR(Q) | Floor Rate 0.75% | Spread 6.25% | Total Coupon 11.41% | Maturity 9/17/2026 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[17],[25],[26] | 4,840,286 | 4,840,286 | ||||||
Investment, Identifier [Axis]: Equity Securities | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2] | 10,223,080 | |||||||
Fair Value, Ending Balance | 3,931,932 | [3],[4],[5] | 3,931,932 | [3],[4],[5] | 10,223,080 | [1],[2] | |||
Investment, Identifier [Axis]: Equity Securities | Capital Markets | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2] | 38,478 | |||||||
Fair Value, Ending Balance | 36,007 | [3],[4],[5] | 36,007 | [3],[4],[5] | 38,478 | [1],[2] | |||
Investment, Identifier [Axis]: Equity Securities | Capital Markets | Marico Holdings, LLC | Limited Partnership/Limited Liability Company Interests | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2] | 0 | |||||||
Fair Value, Ending Balance | [1],[2] | 0 | |||||||
Investment, Identifier [Axis]: Equity Securities | Capital Markets | Marsico Holdings, LLC | Limited Partnership/Limited Liability Company Interests | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[40],[41] | 0 | 0 | ||||||
Investment, Identifier [Axis]: Equity Securities | Capital Markets | Pico Quantitative Trading Holdings, LLC | Warrants to Purchase Membership Units | Expiration 2/7/2030 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[40],[41] | 36,007 | 36,007 | ||||||
Investment, Identifier [Axis]: Equity Securities | Capital Markets | Pico Quantitative Trading Holdings, LLC | Warrants to Purchase Membership Units | Expiration 2/7/2030 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2] | 38,478 | |||||||
Fair Value, Ending Balance | [1],[2] | 38,478 | |||||||
Investment, Identifier [Axis]: Equity Securities | Chemicals | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2] | 0 | |||||||
Fair Value, Ending Balance | 0 | [3],[4],[5] | 0 | [3],[4],[5] | 0 | [1],[2] | |||
Investment, Identifier [Axis]: Equity Securities | Chemicals | AGY Equity, LLC | Class A Preferred Stock | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2] | 0 | |||||||
Fair Value, Ending Balance | 0 | [3],[4],[5],[40],[41],[42] | 0 | [3],[4],[5],[40],[41],[42] | 0 | [1],[2] | |||
Investment, Identifier [Axis]: Equity Securities | Chemicals | AGY Equity, LLC | Class B Preferred Stock | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2],[38],[43] | 0 | |||||||
Fair Value, Ending Balance | 0 | [3],[4],[5],[40],[41],[42] | 0 | [3],[4],[5],[40],[41],[42] | 0 | [1],[2],[38],[43] | |||
Investment, Identifier [Axis]: Equity Securities | Chemicals | AGY Equity, LLC | Class C Common Stock | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2] | 0 | |||||||
Fair Value, Ending Balance | 0 | [3],[4],[5],[40],[41],[42] | 0 | [3],[4],[5],[40],[41],[42] | 0 | [1],[2] | |||
Investment, Identifier [Axis]: Equity Securities | Diversified Consumer Services | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2] | 1,431,195 | |||||||
Fair Value, Ending Balance | 1,072,876 | [3],[4],[5] | 1,072,876 | [3],[4],[5] | 1,431,195 | [1],[2] | |||
Investment, Identifier [Axis]: Equity Securities | Diversified Consumer Services | Elevate Brands Holdco Inc. | Warrants to Purchase Common Stock | Expiration 3/14/2032 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2] | 31,965 | |||||||
Fair Value, Ending Balance | 31,540 | [3],[4],[5],[40],[41] | 31,540 | [3],[4],[5],[40],[41] | 31,965 | [1],[2] | |||
Investment, Identifier [Axis]: Equity Securities | Diversified Consumer Services | Elevate Brands Holdco Inc. | Warrants to Purchase Preferred Stock | Expiration 3/14/2032 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2] | 25,645 | |||||||
Fair Value, Ending Balance | 25,402 | [3],[4],[5],[40],[41] | 25,402 | [3],[4],[5],[40],[41] | 25,645 | [1],[2] | |||
Investment, Identifier [Axis]: Equity Securities | Diversified Consumer Services | MXP Prime Platform GmbH (SellerX) (Germany) | Warrants to Purchase Preferred Series B Shares | Expiration 11/23/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2] | 97,941 | |||||||
Fair Value, Ending Balance | 104,656 | [3],[4],[5],[25],[26],[40],[41] | 104,656 | [3],[4],[5],[25],[26],[40],[41] | 97,941 | [1],[2] | |||
Investment, Identifier [Axis]: Equity Securities | Diversified Consumer Services | PerchHQ LLC | Warrants to Purchase Common Stock | Expiration 10/15/2027 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2] | 252,226 | |||||||
Fair Value, Ending Balance | 46,641 | [3],[4],[5],[40],[41],[44] | 46,641 | [3],[4],[5],[40],[41],[44] | 252,226 | [1],[2] | |||
Investment, Identifier [Axis]: Equity Securities | Diversified Consumer Services | Razor Group GmbH (Germany) | Warrants to Purchase Preferred Series A1 Shares | Expiration 4/28/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2] | 702,914 | |||||||
Fair Value, Ending Balance | 554,434 | [3],[4],[5],[25],[26],[40],[41] | 554,434 | [3],[4],[5],[25],[26],[40],[41] | 702,914 | [1],[2] | |||
Investment, Identifier [Axis]: Equity Securities | Diversified Consumer Services | Razor Group GmbH (Germany) | Warrants to Purchase Series C Shares | Expiration 4/28/2028 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2] | 320,504 | |||||||
Fair Value, Ending Balance | 310,203 | [3],[4],[5],[25],[26],[40],[41] | 310,203 | [3],[4],[5],[25],[26],[40],[41] | 320,504 | [1],[2] | |||
Investment, Identifier [Axis]: Equity Securities | Diversified Financial Services | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2] | 187,336 | |||||||
Fair Value, Ending Balance | 86,131 | [3],[4],[5] | 86,131 | [3],[4],[5] | 187,336 | [1],[2] | |||
Investment, Identifier [Axis]: Equity Securities | Diversified Financial Services | Gordon Brothers Finance Company | Common Stock | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2] | 0 | |||||||
Fair Value, Ending Balance | 0 | [3],[4],[5],[40],[42] | 0 | [3],[4],[5],[40],[42] | 0 | [1],[2] | |||
Investment, Identifier [Axis]: Equity Securities | Diversified Financial Services | Gordon Brothers Finance Company | Preferred Stock | Total Coupon 13.50% | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2] | 0 | |||||||
Fair Value, Ending Balance | 0 | [3],[4],[5],[32],[40],[42] | 0 | [3],[4],[5],[32],[40],[42] | 0 | [1],[2] | |||
Investment, Identifier [Axis]: Equity Securities | Diversified Financial Services | Worldremit Group Limited (United Kingdom) | Warrants to Purchase Series D Stock | Expiration 2/11/2031 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2] | 183,658 | |||||||
Fair Value, Ending Balance | 85,201 | [3],[4],[5],[25],[26],[40],[41] | 85,201 | [3],[4],[5],[25],[26],[40],[41] | 183,658 | [1],[2] | |||
Investment, Identifier [Axis]: Equity Securities | Diversified Financial Services | Worldremit Group Limited (United Kingdom) | Warrants to Purchase Series E Stock | Expiration 8/27/2031 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2] | 3,678 | |||||||
Fair Value, Ending Balance | 930 | [3],[4],[5],[25],[26],[40],[41] | 930 | [3],[4],[5],[25],[26],[40],[41] | 3,678 | [1],[2] | |||
Investment, Identifier [Axis]: Equity Securities | Household Durables Stitch Holdings, L.P. | Limited Partnership/Limited Liability Company Interests | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[40],[41] | 0 | 0 | ||||||
Investment, Identifier [Axis]: Equity Securities | Household Durables | Stitch Holdings, L.P. | Limited Partnership/Limited Liability Company Interests | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2] | 4,373,400 | |||||||
Fair Value, Ending Balance | [1],[2] | 4,373,400 | |||||||
Investment, Identifier [Axis]: Equity Securities | Internet Software & Services | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5] | 273,000 | 273,000 | ||||||
Investment, Identifier [Axis]: Equity Securities | Internet Software & Services | FinancialForce.com, Inc. | Warrants to Purchase Series C Preferred Stock | Expiration 1/30/2029 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2] | 211,350 | |||||||
Fair Value, Ending Balance | 273,000 | [3],[5],[40],[41] | 273,000 | [3],[5],[40],[41] | 211,350 | [1],[2] | |||
Investment, Identifier [Axis]: Equity Securities | Internet Software & Services | SuCo Investors, LP (Suited Connector) | Warrants to Purchase Class A Units | Expiration 3/6/2033 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Ending Balance | [3],[4],[5],[40],[41] | 0 | 0 | ||||||
Investment, Identifier [Axis]: Equity Securities | Media | MBS Parent, LLC | Limited Partnership/Limited Liability Company Interests | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2] | 0 | |||||||
Fair Value, Ending Balance | 49,500 | [3],[4],[5],[40],[45] | 49,500 | [3],[4],[5],[40],[45] | 0 | [1],[2] | |||
Investment, Identifier [Axis]: Equity Securities | Metals & Mining | Kemmerer Holdings, LLC (WMLP) | Limited Partnership/Limited Liability Company Interests | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2] | 1,618,248 | |||||||
Fair Value, Ending Balance | [1],[2] | 1,618,248 | |||||||
Investment, Identifier [Axis]: Equity Securities | Oil, Gas & Consumable Fuels | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2] | 0 | |||||||
Fair Value, Ending Balance | 0 | [3],[4],[5] | 0 | [3],[4],[5] | 0 | [1],[2] | |||
Investment, Identifier [Axis]: Equity Securities | Oil, Gas & Consumable Fuels | TER Management Resources, LLC (fka ETX Energy Management Company, LLC) | Limited Partnership/Limited Liability Company Interests | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2] | 0 | |||||||
Fair Value, Ending Balance | 0 | [3],[4],[5],[40] | 0 | [3],[4],[5],[40] | 0 | [1],[2] | |||
Investment, Identifier [Axis]: Equity Securities | Oil, Gas & Consumable Fuels | Trailblazer Energy Resources, LLC (fka ETX Energy, LLC) | Limited Partnership/Limited Liability Company Interests | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2] | 0 | |||||||
Fair Value, Ending Balance | 0 | [3],[4],[5],[40],[44] | 0 | [3],[4],[5],[40],[44] | 0 | [1],[2] | |||
Investment, Identifier [Axis]: Equity Securities | Software | Grey Orange International Inc. | Warrants to Purchase Common Stock | Expiration 5/6/2032 | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2] | 8,849 | |||||||
Fair Value, Ending Balance | 14,302 | [3],[4],[5],[40],[41] | 14,302 | [3],[4],[5],[40],[41] | 8,849 | [1],[2] | |||
Investment, Identifier [Axis]: Equity Securities | Trading Companies & Distributors | Blackbird Holdco, Inc. (Ohio Transmission Corp.) | Preferred Stock | Total Coupon 12.50% PIK | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2] | 2,354,224 | |||||||
Fair Value, Ending Balance | 2,400,116 | [3],[4],[5],[24],[41] | 2,400,116 | [3],[4],[5],[24],[41] | 2,354,224 | [1],[2] | |||
Investment, Identifier [Axis]: Investments | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Fair Value, Beginning Balance | [1],[2] | 570,489,084 | |||||||
Fair Value, Ending Balance | 595,837,411 | [3],[4],[5] | 595,837,411 | [3],[4],[5] | 570,489,084 | [1],[2] | |||
Investment, Identifier [Axis]: Non-Controlled Affiliate Security | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Dividend Income, Operating | 31,794 | [6],[7] | 456,686 | [8],[46] | |||||
Fair Value, Beginning Balance | 3,574,438 | [7] | 4,131,978 | [46] | 4,131,978 | [46] | |||
Net realized gain (loss) | (441,906) | [6],[7] | 0 | [8],[46] | |||||
Net increase or decrease in unrealized appreciation or depreciation | (864,398) | [6],[7] | 620,438 | [8],[46] | |||||
Acquisitions | 112,178 | [7],[47] | 347,444 | [46],[48] | |||||
Dispositions | 2,380,312 | [7],[49] | (1,525,422) | [46],[50] | |||||
Fair Value, Ending Balance | [7] | 0 | 0 | 3,574,438 | |||||
Investment, Identifier [Axis]: Non-Controlled Affiliate Security | AGY Equity, LLC | Class A Preferred Stock | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Dividend Income, Operating | 0 | [6],[7] | 0 | [8],[46] | |||||
Fair Value, Beginning Balance | 0 | [7] | 251,736 | [46] | 251,736 | [46] | |||
Net realized gain (loss) | 0 | [6],[7] | 0 | [8],[46] | |||||
Net increase or decrease in unrealized appreciation or depreciation | 0 | [6],[7] | (251,736) | [8],[46] | |||||
Acquisitions | 0 | [7],[47] | 0 | [46],[48] | |||||
Dispositions | 0 | [7],[49] | 0 | [46],[50] | |||||
Fair Value, Ending Balance | [7] | 0 | 0 | 0 | |||||
Investment, Identifier [Axis]: Non-Controlled Affiliate Security | AGY Equity, LLC | Class B Preferred Stock | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Dividend Income, Operating | 0 | [6],[7] | 0 | [8],[46] | |||||
Fair Value, Beginning Balance | 0 | [7] | 0 | [46] | 0 | [46] | |||
Net realized gain (loss) | 0 | [6],[7] | 0 | [8],[46] | |||||
Net increase or decrease in unrealized appreciation or depreciation | 0 | [6],[7] | 0 | [8],[46] | |||||
Acquisitions | 0 | [7],[47] | 0 | [46],[48] | |||||
Dispositions | 0 | [7],[49] | 0 | [46],[50] | |||||
Fair Value, Ending Balance | [7] | 0 | 0 | 0 | |||||
Investment, Identifier [Axis]: Non-Controlled Affiliate Security | AGY Equity, LLC | Class C Common Stock | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Dividend Income, Operating | 0 | [6],[7] | 0 | [8],[46] | |||||
Fair Value, Beginning Balance | 0 | [7] | 0 | [46] | 0 | [46] | |||
Net realized gain (loss) | 0 | [6],[7] | 0 | [8],[46] | |||||
Net increase or decrease in unrealized appreciation or depreciation | 0 | [6],[7] | 0 | [8],[46] | |||||
Acquisitions | 0 | [7],[47] | 0 | [46],[48] | |||||
Dispositions | 0 | [7],[49] | 0 | [46],[50] | |||||
Fair Value, Ending Balance | [7] | 0 | 0 | 0 | |||||
Investment, Identifier [Axis]: Non-Controlled Affiliate Security | Kemmerer Holdings, LLC (WMLP) | Limited Liability Co. Interest | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Dividend Income, Operating | 0 | [6],[7],[51] | 0 | [8],[46] | |||||
Fair Value, Beginning Balance | 1,618,248 | [7],[9],[51] | 746,074 | [46] | 746,074 | [46] | |||
Net realized gain (loss) | (441,906) | [6],[7],[51] | 0 | [8],[46] | |||||
Net increase or decrease in unrealized appreciation or depreciation | (864,398) | [6],[7],[51] | 872,174 | [8],[46] | |||||
Acquisitions | 0 | [7],[47],[51] | 0 | [46],[48] | |||||
Dispositions | 311,944 | [7],[49],[51] | 0 | [46],[50] | |||||
Fair Value, Ending Balance | [7],[51] | 0 | 0 | 1,618,248 | [9] | ||||
Investment, Identifier [Axis]: Non-Controlled Affiliate Security | Kemmerer Operations, LLC (WMLP) | Delayed Draw Term Loan, First Lien | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Dividend Income, Operating | 0 | [6],[7],[51] | 1,170 | [8],[46] | |||||
Fair Value, Beginning Balance | 0 | [7],[51] | 42,550 | [46] | 42,550 | [46] | |||
Net realized gain (loss) | 0 | [6],[7],[51] | 0 | [8],[46] | |||||
Net increase or decrease in unrealized appreciation or depreciation | 0 | [6],[7],[51] | 0 | [8],[46] | |||||
Acquisitions | 0 | [7],[47],[51] | 1,188 | [46],[48] | |||||
Dispositions | 0 | [7],[49],[51] | (43,738) | [46],[50] | |||||
Fair Value, Ending Balance | [7],[51] | 0 | 0 | 0 | |||||
Investment, Identifier [Axis]: Non-Controlled Affiliate Security | Kemmerer Operations, LLC (WMLP) | Senior Secured Loan, First Lien | |||||||||
Schedule Of Investments [Line Items] | |||||||||
Dividend Income, Operating | 31,794 | [6],[7],[51] | 455,516 | [8],[46] | |||||
Fair Value, Beginning Balance | 1,956,190 | [7],[51] | $ 3,091,618 | [46] | 3,091,618 | [46] | |||
Net realized gain (loss) | 0 | [6],[7],[51] | 0 | [8],[46] | |||||
Net increase or decrease in unrealized appreciation or depreciation | 0 | [6],[7],[51] | 0 | [8],[46] | |||||
Acquisitions | 112,178 | [7],[47],[51] | 346,256 | [46],[48] | |||||
Dispositions | 2,068,368 | [7],[49],[51] | (1,481,684) | [46],[50] | |||||
Fair Value, Ending Balance | [7],[51] | $ 0 | $ 0 | $ 1,956,190 | |||||
[1] As of December 31, 2022, the Company generally uses Global Industry Classification Standard (“GICS”) codes to identify the industry groupings. This information is unaudited. Unless otherwise indicated, all investments are considered Level 3 in accordance with ASC Topic 820 (see Note 2). Pursuant to Rule 2a-5 under the Investment Company Act of 1940 (the "1940 Act"), the Company's Board of Directors designated the Advisor as the valuation designee to perform certain fair value functions, including performing fair value determinations. See Note 2 for further details. The Company generally uses Global Industry Classification Standard (“GICS”) codes to identify the industry groupings. This information is unaudited. Unless otherwise indicated, all investments are considered Level 3 in accordance with ASC Topic 820 (see Note 2). Amounts reported above are for the six months ended June 30, 2023 . Dividends and interest income also includes fee income as applicable. The issuers of the securities listed on this schedule are considered non-controlled, affiliated investments under the 1940 Act due to the ownership by the Company of 5% to 25% of the issuers’ voting securities. Amounts reported above are for the year ended December 31, 2022. Dividends and interest income also includes fee income as applicable. The issuers of the securities listed on this schedule are considered controlled affiliates under the 1940 Act due to the ownership by the Company of more than 25% of the issuers’ voting securities. (2) Amounts reported above are for the year ended December 31, 2022. Dividends and interest income also includes fee income as applicable. The issuers of securities listed on this schedule are considered controlled affiliates under the 1940 Act due to the ownership by the Company of more than 25% of the issuers’ voting securities. Amounts reported above are for the six months ended June 30, 2023 . Dividends and interest income also includes fee income as applicable. Acquisitions include increases in the cost basis of investments resulting from new purchases, PIK income, or amortization of original issue and market discounts for the six months ended June 30, 2023 . Acquisitions include increases in the cost basis of investments resulting from new portfolio investments, PIK interest or dividends, the amortization of unearned income, the exchange of one or more existing securities for one or more new securities and the movement of an existing portfolio company into this category from a different category for the year ended December 31, 2022. Dispositions include decreases in the cost basis of investments, net of realized gain or loss, resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities and the movement of an existing portfolio company out of this category into a different category for the six months ended June 30, 2023 . Dispositions include decreases in the cost basis of investments, net of realized gain or loss, resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities and the movement of an existing portfolio company out of this category into a different category for the year ended December 31, 2022. Pursuant to Rule 2a-5 under the Investment Company Act of 1940 (the "1940 Act"), the Company's Board of Directors designated the Advisor as the valuation designee to perform certain fair value functions, including performing fair value determinations. See Note 2 for further details. Approximately 99.5 % of the fair value of total senior secured loans in the Company’s portfolio bear interest at a floating rate that may be determined by reference to the London Interbank Offered Rate (“LIBOR”), “L”, Secured Overnight Financing Rate (“SOFR”), “S”, or other base rate (commonly the Federal Funds Rate or the Prime Rate), “P”, at the borrower’s option. In addition, 94.3 % of the fair value of such senior secured loans have floors of 0.50 % to 2.00 %. The borrower under a senior secured loan generally has the option to select from interest reset periods of one, two, three or six months and may alter that selection at the end of any reset period. The stated interest rate represents the weighted average interest rate at June 30, 2023 of all contracts within the specified loan facility. LIBOR and SOFR reset monthly (M), quarterly (Q) or semiannually (S). Approximately 99.2 % of the fair value of total senior secured loans in the Company’s portfolio bear interest at a floating rate that may be determined by reference to the London Interbank Offered Rate (“LIBOR”), “L”, Secured Overnight Financing Rate (“SOFR”), “S”, or other base rate (commonly the Federal Funds Rate or the Prime Rate), “P”, at the borrower’s option. In addition, 94.2 % of the fair value of such senior secured loans have floors of 0.50 % to 1.80 %. The borrower under a senior secured loan generally has the option to select from interest reset periods of one, two, three or six months and may alter that selection at the end of any reset period. The stated interest rate represents the weighted average interest rate at December 31, 2022 of all contracts within the specified loan facility. LIBOR and SOFR reset monthly (M), quarterly (Q) or semiannually (S). Position or associated portfolio company thereof has an unfunded commitment as of December 31, 2022 (see Note 9). Note that there may be additional unfunded positions which do not have a funded component at period end, and therefore are not displayed herein. Any negative balances represent unfunded commitments that were acquired and/or valued at a discount. Position or associated portfolio company thereof has an unfunded commitment as of June 30, 2023 (see Note 9). Any negative balances represent unfunded commitments that were acquired and/or valued at a discount. Portions of the loan bear interest using a combination of LIBOR, SOFR and/or at the Prime rate. The total coupon represents the weighted average interest rate at June 30, 2023 of all contracts within the loan facility. Investments that the Company has determined are not “qualifying assets” under Section 55(a) of the 1940 Act. Under the 1940 Act, we may not acquire any non-qualifying asset unless, at the time such acquisition is made, qualifying assets represent at least 70% of our total assets. The status of these assets under the 1940 Act may be subject to change. The Company monitors the status of these assets on an ongoing basis. As of December 31, 2022, approximately 15.0 % of the total assets of the Company were not qualifying assets under Section 55(a) of the 1940 Act. Non-U.S. company or principal place of business outside the U.S. Interest may be paid in cash or payment-in-kind (“PIK”), or a combination thereof which is generally at the option of the borrower. PIK earned is included in the cost basis of the security. In accordance with the Company’s policy, PIK is recorded on an effective interest method. Investments that the Company has determined are not “qualifying assets” under Section 55(a) of the 1940 Act. Under the 1940 Act, we may not acquire any non-qualifying asset unless, at the time such acquisition is made, qualifying assets represent at least 70% of our total assets. The status of these assets under the 1940 Act may be subject to change. The Company monitors the status of these assets on an ongoing basis. As of June 30, 2023 , approximately 15.8 % of the total assets of the Company were not qualifying assets under Section 55(a) of the 1940 Act. Non-U.S. company or principal place of business outside the U.S. Interest may be paid in cash or payment-in-kind (“PIK”), or a combination thereof which is generally at the option of the borrower. PIK earned is included in the cost basis of the security. In accordance with the Company’s policy, PIK is recorded on an effective interest method. Investments are considered other than Level 3 in accordance with ASC Topic 820 (see Note 2). Investments are considered other than Level 3 in accordance with ASC Topic 820 (see Note 2). This investment will have a first lien security interest after the senior tranches are repaid. This investment will have a first lien security interest after the senior tranches are repaid. The investment is on non-accrual status as of June 30, 2023 and therefore non-income producing. At June 30, 2023, the aggregate fair value and amortized cost of the Company’s debt and preferred stock investments on non-accrual status represents 2.5 % and 11.0 % of the Company's debt and preferred stock investments at fair value and amortized cost, respectively. Total coupon includes default interest of 2.00 %. Transaction and other information for “controlled” investments under the 1940 Act, whereby the Company owns more than 25% of the portfolio company’s outstanding voting securities, is presented in a separate table of the Consolidated Schedules of Investments. The investment is on non-accrual status as of December 31, 2022 and therefore non-income producing. At December 31, 2022, the aggregate fair value and amortized cost of the Company’s debt and preferred stock investments on non-accrual status represents 2.8 % and 11.8 % of the Company's debt and preferred stock investments at fair value and amortized cost, respectively. Total coupon includes default interest of 2.00 %. Transaction and other information for “controlled” investments under the 1940 Act, whereby the Company owns more than 25% of the portfolio company’s outstanding voting securities, is presented in a separate table of the Consolidated Schedules of Investments. Securities are either exempt from registration under Rule 144A of the Securities Act, or sale of the security is subject to certain contractual restrictions. Securities that are exempt from registration under 144A may be resold in transactions, normally to qualified institutional buyers. In aggregate, these securities represent 2.9 % of the Company’s net assets at December 31, 2022. The acquisition dates for restricted securities of unaffiliated issuers were as follows as of December 31, 2022: Investment Initial Acquisition Date Marsico Holdings, LLC, Limited Partnership/Limited Liability Company Interests 11/28/2007 FinancialForce.com, Warrants to Purchase Series C Preferred Stock 1/30/2019 Pico Quantitative Trading Holdings, LLC, Warrants to Purchase Membership Units 2/7/2020 Worldremit Group Limited (United Kingdom), Warrants to Purchase Series D Stock 2/11/2021 Advanced Lighting Technologies, LLC, Senior Secured Notes 3/16/2021 Razor Group GmbH (Germany), Warrants to Purchase Preferred Series A1 Shares 4/28/2021 Stitch Holdings, L.P., Limited Partnership Interests 7/30/2021 Worldremit Group Limited (United Kingdom), Warrants to Purchase Series E Stock 8/27/2021 MXP Prime Platform GmbH (SellerX) (Germany), Warrants to Purchase Preferred Series B Shares 11/23/2021 Blackbird Holdco, Inc. (Ohio Transmission Corp.), Preferred Stock 12/14/2021 Elevate Brands Holdco Inc., Warrants to Purchase Common Stock 3/14/2022 Elevate Brands Holdco Inc., Warrants to Purchase Preferred Stock 3/14/2022 Grey Orange International Inc., Warrants to Purchase Common Stock 5/6/2022 PerchHQ LLC, Warrants to Purchase Common Stock 9/30/2022 Razor Group GmbH (Germany), Warrants to Purchase Series C Shares 12/23/2022 Portions of the loan bear interest using a combination of LIBOR, SOFR, and/or the Prime rate. The total coupon represents the weighted average interest rate at December 31, 2022 of all contracts within the loan facility. Non-income producing equity securities at June 30, 2023 . Security is either exempt from registration under Rule 144A of the Securities Act of 1933 (the “Securities Act”), or sale of the security is subject to certain contractual restrictions. Securities that are exempt from registration under 144A may be resold in transactions, normally to qualified institutional buyers. In aggregate, these securities represent 1.2 % of the Company’s net assets at June 30, 2023. The acquisition dates for restricted securities of unaffiliated issuers were as follows as of June 30, 2023: Investment Initial Acquisition Date Marsico Holdings, LLC, Limited Partnership/Limited Liability Company Interests 11/28/2007 FinancialForce.com, Warrants to Purchase Series C Preferred Stock 1/30/2019 Pico Quantitative Trading Holdings, LLC, Warrants to Purchase Membership Units 2/7/2020 Worldremit Group Limited (United Kingdom), Warrants to Purchase Series D Stock 2/11/2021 Razor Group GmbH (Germany), Warrants to Purchase Preferred Series A1 Shares 4/28/2021 Stitch Holdings, L.P., Limited Partnership Interests 7/30/2021 Worldremit Group Limited (United Kingdom), Warrants to Purchase Series E Stock 8/27/2021 MXP Prime Platform GmbH (SellerX) (Germany), Warrants to Purchase Preferred Series B Shares 11/23/2021 Blackbird Holdco, Inc. (Ohio Transmission Corp.), Preferred Stock 12/14/2021 Elevate Brands Holdco Inc., Warrants to Purchase Common Stock 3/14/2022 Elevate Brands Holdco Inc., Warrants to Purchase Preferred Stock 3/14/2022 Grey Orange International Inc., Warrants to Purchase Common Stock 5/6/2022 PerchHQ LLC, Warrants to Purchase Common Stock 9/30/2022 Razor Group GmbH (Germany), Warrants to Purchase Series C Shares 12/23/2022 SuCo Investors, LP (Suited Connector), Warrants to Purchase Class A Units 3/6/2023 Transaction and other information for “non-controlled, affiliated” investments under the 1940 Act, whereby the Company owns 5% or more (but not more than 25%) of the portfolio company’s outstanding voting securities, is presented in a separate table of the Consolidated Schedules of Investments. Non-income producing equity securities at December 31, 2022 . The Company is the sole stockholder of BKC ASW Blocker, Inc., a consolidated subsidiary, which is the beneficiary of less than 5% of the voting securities of Trailblazer Energy Resources, LLC (fka ETX Energy, LLC) and PerchHQ LLC and thus non-controlled, non-affiliated investments. The Company is the sole stockholder of BCIC-MBS, LLC, a consolidated subsidiary, which is the beneficiary of less than 5% of the voting securities of MBS Parent, LLC and thus a non-controlled, non-affiliated investment. The issuers of the securities listed on this schedule are considered non-controlled, affiliated investments under the 1940 Act due to the ownership by the Company of 5% to 25% of the issuers’ voting securities. Acquisitions include increases in the cost basis of investments resulting from new purchases, PIK income, or amortization of original issue and market discounts for the six months ended June 30, 2023 . Acquisitions include new purchases, PIK income and amortization of original issue and market discounts, and the movement of an existing portfolio company into this category from a different category for the year ended December 31, 2022. Dispositions include decreases in the cost basis of investments, net of realized gain or loss, resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities and the movement of an existing portfolio company out of this category into a different category for the six months ended June 30, 2023 . Dispositions include decreases in the cost basis of investments, net of realized gain or loss, resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities and the movement of an existing portfolio company out of this category into a different category for the year ended December 31, 2022. Investment no longer held as of June 30, 2023 . |
Consolidated Schedules of Inv_6
Consolidated Schedules of Investments (Affiliate Security) (Unaudited) (Parenthetical) | Jun. 30, 2023 | Dec. 31, 2022 |
Investment, Identifier [Axis]: Cash and Cash Equivalents | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of net assets | 4% | 3% |
Investment, Identifier [Axis]: Cash and Investments | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of net assets | 193.70% | 182.10% |
Investment, Identifier [Axis]: Controlled Affiliated Investments | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of net assets | 4.80% | 4.80% |
Investment, Identifier [Axis]: Debt Investments | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of net assets | 188.50% | 175.90% |
Investment, Identifier [Axis]: Equity Securities | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of net assets | 1.20% | 3.20% |
Investment, Identifier [Axis]: Investments | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of net assets | 189.70% | 179.10% |
Investment, Identifier [Axis]: Non Controlled Affiliated Investments | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of net assets | 0% | 1.10% |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Pay vs Performance Disclosure | ||||
Net Income (Loss) | $ 1,503,691 | $ (2,540,160) | $ 10,021,088 | $ 2,982,214 |
Insider Trading Arrangements
Insider Trading Arrangements | 6 Months Ended |
Jun. 30, 2023 | |
Trading Arrangements, by Individual | |
Rule 10b5-1 Arrangement Adopted | false |
Non-Rule 10b5-1 Arrangement Adopted | false |
Rule 10b5-1 Arrangement Terminated | false |
Non-Rule 10b5-1 Arrangement Terminated | false |
N-2
N-2 - $ / shares | 3 Months Ended | 6 Months Ended | |||||||||
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 | Jun. 30, 2023 | |
Cover [Abstract] | |||||||||||
Entity Central Index Key | 0001326003 | ||||||||||
Amendment Flag | false | ||||||||||
Securities Act File Number | 814-00712 | ||||||||||
Document Type | 10-Q | ||||||||||
Entity Registrant Name | BLACKROCK CAPITAL INVESTMENT CORPORATION | ||||||||||
Entity Address, Address Line One | 50 Hudson Yards | ||||||||||
Entity Address, City or Town | New York | ||||||||||
Entity Address, State or Province | NY | ||||||||||
Entity Address, Postal Zip Code | 10001 | ||||||||||
City Area Code | 212 | ||||||||||
Local Phone Number | 810-5800 | ||||||||||
Entity Emerging Growth Company | false | ||||||||||
General Description of Registrant [Abstract] | |||||||||||
Investment Objectives and Practices [Text Block] | We were incorporated in Delaware on April 13, 2005 and commenced operations with private funding on July 25, 2005, and completed our initial public offering on July 2, 2007. Our investment objective is to generate both current income and capital appreciation through debt and equity investments. We invest primarily in middle-market companies in the form of senior debt securities and loans, and our investment portfolio may include junior secured and unsecured debt securities and loans, each of which may include an equity component. | ||||||||||
Risk Factors [Table Text Block] | Item 1A. Ris k Factors In addition to the other information set forth in this report, you should carefully consider the risk factor discussed below and the risk factors in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (the “Annual Report”), which could materially affect our business, financial condition and/or operating results. The risks described in our Annual Report and discussed below are not the only risks facing us. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially and adversely affect our business, financial condition and/or operating results. The U.S. and global capital markets are subject to systemic risk that could adversely affect our business, financial condition and results of operations. Issuers, national and regional banks, financial institutions and other participants in the U.S. and global capital markets are closely interrelated as a result of credit, trading, clearing, technology and other relationships. A significant adverse development (such as a bank run, insolvency, bankruptcy or default) 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"), 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 of the U.S. Department of Treasury, FDIC and Federal Reserve Board may remain unknown for significant periods of time and could have an adverse effect on the Company. 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 current 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 Advisor. | ||||||||||
Share Price [Table Text Block] | Price Range of Common Stock Our common stock began trading on June 27, 2007 and is currently traded on The NASDAQ Global Select Market under the symbol “BKCC”. The following table lists the high and low closing sale price for our common stock, the closing sale price as a percentage of net asset value, or NAV, and quarterly dividends per share in each fiscal quarter to date for the year ended December 31, 2023, the year ended December 31, 2022 and the year ended December 31, 2021. On June 30, 2023 , the reported closing price of our common stock was $ 3.28 per share. Stock Price Premium/(Discount) of Premium/(Discount) of NAV (1) High (2) Low (2) High Sales Price to NAV (3) Low Sales Price to NAV (3) Declared Fiscal Year ended December 31, 2023 First Quarter $ 4.41 $ 3.81 $ 3.30 ( 14 )% ( 25 )% $ 0.10 Second Quarter $ 4.33 $ 3.59 $ 3.05 ( 17 )% ( 30 )% $ 0.10 Fiscal Year ended December 31, 2022 First Quarter $ 4.70 $ 4.25 $ 4.00 ( 10 )% ( 15 )% $ 0.10 Second Quarter $ 4.57 $ 4.34 $ 3.46 ( 5 )% ( 24 )% $ 0.10 Third Quarter $ 4.56 $ 4.02 $ 3.38 ( 12 )% ( 26 )% $ 0.10 Fourth Quarter $ 4.39 $ 3.90 $ 3.42 ( 11 )% ( 22 )% $ 0.10 Fiscal Year ended December 31, 2021 First Quarter $ 4.35 $ 3.68 $ 2.65 ( 15 )% ( 39 )% $ 0.10 Second Quarter $ 4.68 $ 4.43 $ 3.48 ( 5 )% ( 26 )% $ 0.10 Third Quarter $ 4.74 $ 4.24 $ 3.81 ( 11 )% ( 20 )% $ 0.10 Fourth Quarter $ 4.73 $ 4.35 $ 3.80 ( 8 )% ( 20 )% $ 0.10 (1) NAV per share is determined as of the last day in the relevant quarter and therefore may not reflect the NAV per share on the date of the high and low sales prices. The NAVs shown are based on outstanding shares at the end of each period. (2) The High/Low Stock Price is calculated as of the closing price on a given day in the applicable quarter. (3) Calculated as the respective High/Low Stock Price minus the quarter end NAV, divided by the quarter end NAV. | ||||||||||
Lowest Price or Bid | $ 3.05 | $ 3.3 | $ 3.42 | $ 3.38 | $ 3.46 | $ 4 | $ 3.8 | $ 3.81 | $ 3.48 | $ 2.65 | |
Highest Price or Bid | $ 3.59 | $ 3.81 | $ 3.9 | $ 4.02 | $ 4.34 | $ 4.25 | $ 4.35 | $ 4.24 | $ 4.43 | $ 3.68 | |
Highest Price or Bid, Premium (Discount) to NAV [Percent] | (17.00%) | (14.00%) | (11.00%) | (12.00%) | (5.00%) | (10.00%) | (8.00%) | (11.00%) | (5.00%) | (15.00%) | |
Lowest Price or Bid, Premium (Discount) to NAV [Percent] | (30.00%) | (25.00%) | (22.00%) | (26.00%) | (24.00%) | (15.00%) | (20.00%) | (20.00%) | (26.00%) | (39.00%) | |
Share Price | $ 3.28 | $ 3.28 | |||||||||
NAV Per Share | $ 4.33 | $ 4.41 | $ 4.39 | $ 4.56 | $ 4.57 | $ 4.7 | $ 4.73 | $ 4.74 | $ 4.68 | $ 4.35 | $ 4.33 |
Systemic Risk [Member] | |||||||||||
General Description of Registrant [Abstract] | |||||||||||
Risk [Text Block] | The U.S. and global capital markets are subject to systemic risk that could adversely affect our business, financial condition and results of operations. Issuers, national and regional banks, financial institutions and other participants in the U.S. and global capital markets are closely interrelated as a result of credit, trading, clearing, technology and other relationships. A significant adverse development (such as a bank run, insolvency, bankruptcy or default) 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"), 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 of the U.S. Department of Treasury, FDIC and Federal Reserve Board may remain unknown for significant periods of time and could have an adverse effect on the Company. 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 current 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 Advisor. |
Organization
Organization | 6 Months Ended |
Jun. 30, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization | 1. Organization BlackRock Capital Investment Corporation (together with its subsidiaries, the “Company”) was organized as a Delaware corporation on April 13, 2005 and was initially funded on July 25, 2005. The Company has elected to be regulated as a business development company (“BDC”) under the Investment Company Act of 1940 (the “1940 Act”). In addition, for tax purposes the Company has qualified and has elected to be treated as a regulated investment company (“RIC”) under the Internal Revenue Code of 1986 (the “Code”). The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. We invest primarily in middle-market companies in the form of senior debt securities and loans, and our investment portfolio may include junior secured and unsecured debt securities and loans, each of which may include an equity component. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2023 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 2. Summary of Significant Accounting Policies Basis of Presentation The accompanying consolidated financial statements are prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”). The Company is an investment company following the accounting and reporting guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 946, Financial Services-Investment Company (“ASC 946”). The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries, which were established to hold certain investments of the Company. The Company owns 100 % of each subsidiary and, as such, the subsidiaries are consolidated into the Company’s consolidated financial statements. The subsidiaries hold investments which are treated as pass through entities for tax purposes. By investing through these 100 % owned subsidiaries, the Company is able to benefit from corporate tax treatment for these entities and thereby create a tax structure that is more advantageous with respect to the RIC status of the Company. Intercompany balances and transactions are eliminated in consolidation. Certain prior period information has been reclassified to conform to the current period presentation. The reclassification has no effect on the Company’s consolidated financial position or the consolidated results of operations as previously reported. Expenses are recorded on an accrual basis. Unaudited Interim Consolidated Financial Statements Certain financial information that is normally included in annual financial statements, including certain financial statement footnotes, prepared in accordance with GAAP, is not required for interim reporting purposes and has been condensed or omitted herein. These consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements and notes related thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, which was filed with the Securities and Exchange Commission (“SEC”) on March 1, 2023. The interim financial information at June 30, 2023 and for the three and six months ended June 30, 2023 and 2022 is unaudited. However, in the opinion of management, the interim information includes all normal recurring adjustments necessary for the fair presentation of the Company’s results for the periods presented. The results of operations for interim periods are not necessarily indicative of results to be expected for the full year. 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, as well as the reported amounts of revenues and expenses during the reporting periods presented. Although management believes these estimates and assumptions to be reasonable, actual results could differ from those estimates and such differences could be material. Investment Valuation Pursuant to Rule 2a-5 (the "Rule") under the 1940 Act, the Company’s Board of Directors (the "Board") has designated BlackRock Capital Investment Advisors, LLC (“BCIA” or the “Advisor”) as the Company’s valuation designee (the “Valuation Designee”) to perform certain fair value functions, including performing fair value determinations, and has reviewed and approved amended policies and procedures adopted by BCIA to seek to ensure compliance with the requirements of the Rule as part of such designation. The Valuation Designee will provide quarterly valuation reporting and notifications on any material valuation matters to the Board as required under the Rule. Investments are recorded at fair value based upon the principles and methods of valuation set forth in the Valuation Designee's policies and procedures adopted for the Company by the Board and the Valuation Designee. Securities traded on a recognized securities exchange are valued using the close price on the exchange on valuation date. Investments for which market prices from an exchange are not readily available are valued using the last available bid price or quote provided by an independent pricing service or one or more broker-dealers or market makers, unless they are deemed not to represent fair value. Debt and equity securities for which market quotations are not readily available or for which market quotations are deemed not to represent fair value are valued at fair value as determined in good faith by or under the direction of the Company’s Valuation Designee. Because the Company expects that there will not be a readily available market for all of the investments in its portfolio, the Company expects to value a significant portion of its portfolio investments at fair value as determined in good faith by or under the direction of the Valuation Designee using a consistently applied valuation process in accordance with documented valuation policies and procedures reviewed and approved by a committee established by the Valuation Designee (the "Valuation Committee"). Due to the inherent uncertainty and subjectivity of determining the fair value of investments that do not have a readily available market value, the fair value of the Company’s investments may differ significantly from the values that would have been used had a readily available market value existed for such investments and may differ materially from the values that the Company may ultimately realize, as these amounts depend on future circumstances and cannot reasonably be determined until the individual investments are actually liquidated. Such circumstances may include macroeconomic, cyclical, geopolitical and other events and conditions such as the COVID-19 pandemic and the Russian military invasion of Ukraine, rising interest rates and risks related to inflation and credit risk, that may significantly impact the profitability or viability of businesses in which the Company is invested, and therefore may significantly impact the return on and realizability of the Company’s investments. In addition, changes in the market environment and other events may have differing impacts on the market quotations used to value some of the Company’s investments than on the fair values of the Company’s investments for which market quotations are not readily available. Market quotations may be deemed not to represent fair value in certain circumstances where the Valuation Designee believes that facts and circumstances applicable to an issuer, a seller, a purchaser or the market for a particular security cause current market quotations to not reflect the fair value of the security. Examples of these events could include cases where a security trades infrequently causing a quoted purchase or sale price to become stale, where there is a “forced” sale by a distressed seller, where market quotations vary substantially among market makers, or where there is a wide bid-ask spread or significant increase in the bid-ask spread. With respect to the Company’s investments for which market quotations are not readily available or for which market quotations are deemed not to represent fair value, the Valuation Designee has approved a multi-step valuation process applied each quarter, as described below: (i) The quarterly valuation process begins with each portfolio company or investment being initially evaluated and rated by the investment professionals of the Valuation Designee responsible for the portfolio investment; (ii) The investment professionals provide recent portfolio company financial statements and other reporting materials as and when available to independent valuation firms engaged by the Valuation Designee and approved by the Valuation Committee (with the exception of statements and materials related to investments priced directly by the Valuation Designee as described in (iv) below), such firms conduct independent appraisals each quarter and their preliminary valuation conclusions are documented and discussed with senior management of the Advisor; (iii) The Valuation Committee reviews the preliminary valuations prepared by the independent valuation firm and the Valuation Designee, as applicable; (iv) The fair value of certain investments, comprising in the aggregate, less than 5 % of the Company’s net asset value and no more than 15 % of total positions held, respectively, may be determined by the Valuation Designee in good faith without the engagement of an independent valuation firm in accordance with the Company’s valuation policy; provided that if only the threshold with respect to the number of all positions valued at zero or immaterial amounts is exceeded, the Valuation Designee may request the Valuation Committee's approval to not request a fair valuation from an independent valuation firm for all such positions; and (v) The Valuation Designee discuss valuations and determines the fair value of each investment in the portfolio in good faith based on the input of the Valuation Committee and the respective independent valuation firms. Those investments for which market quotations are not readily available or for which market quotations are deemed not to represent fair value are valued generally utilizing a market approach, an income approach, or both approaches, as appropriate. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities (including a business). The income approach uses valuation techniques to convert future amounts (for example, cash flows or earnings) to a single present amount (discounted). The measurement is based on the value indicated by current market expectations about those future amounts. In following these approaches, the types of factors that the Company may take into account in determining the fair value of its investments include, as relevant and among other factors: available current market data, including relevant and applicable market trading and transaction comparables, applicable market yields and multiples, security covenants, call protection provisions, information rights, the nature and realizable value of any collateral, the portfolio company’s ability to make payments, (e.g. non-performance risk), its earnings and discounted cash flows, the markets in which the portfolio company does business, comparisons of financial ratios of peer companies that are public, M&A comparables, the Company’s principal market (as the reporting entity), any bid for a Company asset (irrespective of the perceived validity of such bid), and enterprise values. For positions acquired during the current quarter, the Valuation Designee generally believes that cost will approximate fair value. As such, an independent valuation, in certain cases, may not be obtained until the quarter-end after the quarter the investment is acquired in. ASC 820-10, Fair Value Measurements and Disclosures (“ASC 820-10”), issued by the FASB, defines fair value, establishes a framework for measuring fair value and requires disclosures about fair value measurements. ASC 820-10 defines fair value as the price that the Company would receive upon selling an investment or pay to transfer a liability in an orderly transaction to a market participant in the principal or most advantageous market for the investment. ASC 820-10 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 Company’s assumptions about the assumptions market participants would use in pricing an asset or liability developed based on the best information available in the circumstances. Level 1 – Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Level 2 – Valuations based on unadjusted quoted prices in markets that are not active or for which most significant inputs are observable, either directly or indirectly. Level 3 – Valuations based on inputs that are unobservable and significant to the overall fair value measurement. The inputs into the determination of fair value may require significant management judgment or estimation. Transfers between levels, if any, represent the value as of the beginning of the period of any investment where a change in the pricing level occurred from the beginning to the end of the period. At June 30, 2023, the Company’s investments were categorized as follows: Level Basis for Determining Fair Value Bank Debt (1) Other (2) Equity Total 1 Quoted prices in active markets for identical assets $ — $ — $ — $ — 2 Other direct and indirect observable market inputs (3) 35,656,092 — — 35,656,092 3 Valuation sources that employ significant unobservable inputs 535,307,387 20,942,000 3,931,932 560,181,319 Total $ 570,963,479 $ 20,942,000 $ 3,931,932 $ 595,837,411 (1) Includes senior secured loans. (2) Includes senior secured notes, unsecured debt and subordinated debt. (3) For example, quoted prices in inactive markets or quotes for comparable investments. Unobservable inputs used in the fair value measurement of Level 3 investments as of June 30, 2023 included the following: Asset Type Fair Value Valuation Technique Unobservable Input Weighted Average Range (1) (Concluded Value) (2) Bank Debt $ 505,516,761 Income approach Discount rate 13.0 % - 13.8 % ( 13.5 %) 26,825,380 Market quotations Indicative bid/ask quotes 1 ( 1 ) 1,189,932 Market comparable companies Revenue multiples 0.5 x - 0.7 x ( 0.6 x) 1,775,314 Option Pricing Model Implied volatility 60.0 % - 70.0 % ( 65.0 %) Term 1.3 years - 2.3 years ( 1.8 years) EBITDA/Revenue multiples 1.8 x - 2.3 x ( 2.0 x) Other Corporate Debt 20,942,000 Income approach Discount rate 13.8 % - 15.3 % ( 14.4 %) Equity 1,399,668 Option Pricing Model EBITDA/Revenue multiples 2.4 x - 2.9 x ( 2.7 x) Implied volatility 57.8 % - 67.8 % ( 62.8 %) Term 1.5 years - 2.5 years ( 2.0 years) 2,400,116 Income approach Discount rate 13.4 % - 13.9 % ( 13.6 %) 132,148 Market comparable companies Revenue multiples 2.3 x - 2.6 x ( 2.5 x) $ 560,181,319 (1) Representing the weighted average of each significant unobservable input range at the investment level by fair value. (2) Representing the weighted average of each significant unobservable input for concluded value at the investment level by fair value. Certain fair value measurements may employ more than one valuation technique, with each valuation technique receiving a relative weight between 0 % and 100 %. Generally, a change in an unobservable input may result in a change to the value of an investment as follows: Input Impact to Value if Input Increases Impact to Value if Input Decreases Discount rate Decrease Increase Revenue multiples Increase Decrease EBITDA multiples Increase Decrease Book value multiples Increase Decrease Implied volatility Increase Decrease Term Increase Decrease Yield Increase Decrease Changes in investments categorized as Level 3 during the three months ended June 30, 2023 were as follows: Bank Debt Other Equity Total Beginning balance $ 525,892,549 $ 21,594,000 $ 8,354,948 $ 555,841,497 Net realized and unrealized gains (losses) 1,398,994 ( 150,641 ) ( 4,512,056 ) ( 3,263,703 ) Acquisitions (1) 21,238,755 1,557 89,040 21,329,352 Dispositions ( 5,719,598 ) ( 502,916 ) — ( 6,222,514 ) Transfers into Level 3 (2) 7,380,725 — — 7,380,725 Transfers out of Level 3 (3) ( 14,884,038 ) — — ( 14,884,038 ) Ending balance $ 535,307,387 $ 20,942,000 $ 3,931,932 $ 560,181,319 Net change in unrealized appreciation/depreciation during the period on investments still held at period end (included in net realized and unrealized gains/losses , above) $ 1,360,798 $ ( 150,641 ) $ ( 4,512,056 ) $ ( 3,301,899 ) (1) Includes payments received in kind and accretion of original issue and market discounts. (2) Comprised of two investments that were transferred from Level 2 to Level 3 due to decreased observable market activity. (3) Comprised of five investments that were transferred from Level 3 to Level 2 due to increased observable market activity. Changes in investments categorized as Level 3 during the six months ended June 30, 2023 were as follows: Bank Debt Other Equity Total Beginning balance $ 494,932,878 $ 21,782,823 $ 10,223,080 $ 526,938,781 Net realized and unrealized gains (losses) 1,855,751 436,820 ( 6,154,586 ) ( 3,862,015 ) Acquisitions (1) 58,314,673 3,409 175,382 58,493,464 Dispositions ( 10,258,442 ) ( 1,281,052 ) ( 311,944 ) ( 11,851,438 ) Transfers into Level 3 (2) 6,371,096 — — 6,371,096 Transfers out of Level 3 (3) ( 15,908,569 ) — — ( 15,908,569 ) Ending balance $ 535,307,387 $ 20,942,000 $ 3,931,932 $ 560,181,319 Net change in unrealized appreciation/depreciation during the period on investments still held at period end (included in net realized and unrealized gains/losses , above) $ 1,309,491 $ 367,507 $ ( 4,848,282 ) $ ( 3,171,284 ) (1) Includes payments received in kind and accretion of original issue and market discounts. (2) Comprised of two investments that were transferred from Level 2 to Level 3 due to decreased observable market activity. (3) Comprised of five investments that were transferred from Level 3 to Level 2 due to increased observable market activity. At December 31, 2022, the Company’s investments were categorized as follows: Level Basis for Determining Fair Value Bank Debt (1) Other (2) Equity Total 1 Quoted prices in active markets for identical assets $ — $ — $ — $ — 2 Other direct and indirect observable market inputs (3) 43,550,303 — — 43,550,303 3 Valuation sources that employ significant unobservable inputs 494,932,878 21,782,823 10,223,080 526,938,781 Total $ 538,483,181 $ 21,782,823 $ 10,223,080 $ 570,489,084 (1) Includes senior secured loans. (2) Includes senior secured notes, unsecured debt and subordinated debt. (3) For example, quoted prices in inactive markets or quotes for comparable investments. Unobservable inputs used in the fair value measurement of Level 3 investments as of December 31, 2022 included the following: Asset Type Fair Value Valuation Technique Unobservable Input Weighted Average Range (1) (Concluded Value) (2) Bank Debt $ 450,067,848 Income approach Discount rate 12.9 % - 13.7 % ( 13.3 %) 43,102,197 Market quotations Indicative bid/ask quotes 1 ( 1 ) 1,762,833 Option Pricing Model Implied volatility 60.0 % - 70.0 % ( 65.0 %) Term 1.8 years - 2.8 years ( 2.3 years) Other Corporate Debt 21,074,000 Income approach Discount rate 13.6 % - 15.1 % ( 14.3 %) 708,823 Market comparable companies Revenue multiples 0.1 x - 0.2 x ( 0.2 x) Equity 1,586,504 Option Pricing Model EBITDA/Revenue multiples 3.6 x - 3.9 x ( 3.8 x) Implied volatility 58.2 % - 68.2 % ( 63.2 %) Term 1.8 years - 2.9 years ( 2.4 years) 4,373,400 Market comparable companies EBITDA multiples 5.8 x - 6.8 x ( 6.3 x) 3,972,472 Income approach Discount rate 20.3 % - 32.8 % ( 24.6 %) 290,704 Market comparable companies Revenue multiples 2.1 x - 2.3 x ( 2.2 x) $ 526,938,781 (1) Representing the weighted average of each significant unobservable input range at the investment level by fair value. (2) Representing the weighted average of each significant unobservable input for concluded value at the investment level by fair value. Changes in investments categorized as Level 3 during the three months ended June 30, 2022 were as follows: Bank Debt Other Equity Total Beginning balance $ 448,941,825 $ 28,664,354 $ 12,894,493 $ 490,500,672 Net realized and unrealized gains (losses) ( 7,868,042 ) 692,232 ( 768,142 ) ( 7,943,952 ) Acquisitions (1) 71,509,591 1,318 78,729 71,589,638 Dispositions ( 20,890,895 ) ( 4,175,384 ) — ( 25,066,279 ) Transfers into Level 3 (2) 6,987,400 — — 6,987,400 Transfers out of Level 3 (3) ( 1,877,265 ) — — ( 1,877,265 ) Ending balance $ 496,802,614 $ 25,182,520 $ 12,205,080 $ 534,190,214 Net change in unrealized appreciation/depreciation during the period on investments still held at period end (included in net realized and unrealized gains/losses , above) $ ( 7,592,410 ) $ 692,232 $ ( 768,142 ) $ ( 7,668,320 ) (1) Includes payments received in kind and accretion of original issue and market discounts. (2) Comprised of one investment that was transferred from Level 2 to Level 3 due to decreased observable market activity. (3) Comprised of one investment that was transferred from Level 3 to Level 2 due to increased observable market activity. Changes in investments categorized as Level 3 during the six months ended June 30, 2022 were as follows: Bank Debt Other Equity Total Beginning balance $ 483,970,602 $ 28,568,871 $ 12,489,257 $ 525,028,730 Net realized and unrealized gains (losses) ( 9,826,619 ) 786,218 ( 453,966 ) ( 9,494,367 ) Acquisitions (1) 114,309,011 2,815 169,789 114,481,615 Dispositions ( 98,691,530 ) ( 4,175,384 ) — ( 102,866,914 ) Transfers into Level 3 (2) 7,041,150 — — 7,041,150 Ending balance $ 496,802,614 $ 25,182,520 $ 12,205,080 $ 534,190,214 Net change in unrealized appreciation/depreciation during the period on investments still held at period end (included in net realized and unrealized gains/losses , above) $ ( 9,255,305 ) $ 770,779 $ ( 453,966 ) $ ( 8,938,492 ) (1) Includes payments received in kind and accretion of original issue and market discounts. (2) Comprised of one investment that was transferred from Level 2 to Level 3 due to decreased observable market activity. Investment Transactions Security transactions are accounted for on the trade date unless there are substantial conditions to the transaction. Realized gains or losses are measured by the difference between the net proceeds from the disposition and the amortized cost of the investment. Unrealized gains or losses primarily reflect the change in investment values, including the reversal of previously recorded unrealized gains or losses when gains or losses are realized. Realized gains or losses on the disposition of investments are calculated using the specific identification method. Cash and Cash Equivalents Cash consists of amounts held in accounts with the custodian bank. Cash equivalents include short-term liquid overnight investments with original maturities of three months or less and may not be insured by the Federal Deposit Insurance Corporation or may exceed federally insured limits. Cash equivalents are classified as Level 1 in the fair value hierarchy. Restricted Investments The Company may invest without limitation in instruments that are subject to legal or contractual restrictions on resale. These instruments generally may be resold to institutional investors in transactions exempt from registration or to the public if the securities are registered. Disposal of these investments may involve time-consuming negotiations and additional expense, and prompt sale at an acceptable price may be difficult. See Notes to the Consolidated Schedules of Investments. Restricted investments, including any restricted investments in affiliates, are valued in accordance with the investment valuation policies discussed above. Foreign Currency Investments The Company may invest in instruments traded in foreign countries and denominated in foreign currencies. Foreign currency amounts are translated into U.S. dollars on the following basis: (i) market value of investment securities, other assets and liabilities—at the spot exchange rate on the last business day of the period; and (ii) purchases and sales of investment securities, income and expenses—at the rates of exchange prevailing on the respective dates of such transactions, income or expenses. Although net assets and fair values are presented based on the applicable foreign exchange rates described above, the Company may not isolate that portion of the results of operations resulting from changes in foreign exchange rates on investments from the fluctuations arising from changes in fair values of investments held. Such fluctuations are included with the net realized and unrealized gain or loss from investments. Investments denominated in foreign currencies and foreign currency transactions may involve certain considerations and risks not typically associated with those of domestic origin, including unanticipated movements in the value of the foreign currency relative to the U.S. dollar. There were no investments denominated in foreign currency as of June 30, 2023 and December 31, 2022. Derivative Instruments: The Company records all derivative financial instruments as either assets or liabilities at fair value on a gross basis in the Consolidated Statements of Assets and Liabilities. Foreign Currency Forward Contracts and Warrants The Company may enter into forward foreign currency contracts from time to time to facilitate settlement of purchases and sales of investments denominated in foreign currencies or to help mitigate the impact that an adverse change in foreign exchange rates would have on the value of the Company’s investments denominated in foreign currencies. A forward foreign currency contract is a commitment to purchase or sell a foreign currency at a future date (usually the security transaction settlement date) at a negotiated forward rate. These contracts are marked-to-market by recognizing the difference between the contract exchange rate and the current market rate as unrealized appreciation or depreciation. Realized gains or losses are recognized when contracts are settled. Risks may arise as a result of the potential inability of the counterparties to meet the terms of their contracts. The Company attempts to limit this risk by dealing with only creditworthy counterparties. There were no open forward foreign currency contracts at June 30, 2023 and December 31, 2022. The Company holds warrants and options in certain portfolio companies in an effort to achieve additional investment return. In purchasing warrants and options, the Company bears the risk of an unfavorable change in the value of the underlying equity interest. The aggregate fair value of warrants and options as of June 30, 2023 and December 31, 2022 represented 0.5 % and 0.6 % of the Company’s net assets, respectively. Interest Rate Swap The Company entered into a centrally-cleared interest rate swap (the “Interest Rate Swap”) to economically hedge the interest payable on the fixed rate tranche of the Company’s 2025 Private Placement Notes (as defined below) (see Note 4). The Company is required to deposit initial margin with the broker in the form of cash in an amount that varies depending on the size and risk profile of the particular swap. Pursuant to the contract, the Company agrees to receive from or pay to the broker daily variation margin. The amounts related to the right to claim or the obligation to return cash collateral may not be used to offset amounts due under the Interest Rate Swap contract in the normal course of settlement. Therefore, both the initial margin and variation margin paid are included as assets within Due from broker on the Consolidated Statements of Assets and Liabilities at June 30, 2023 and December 31, 2022. Changes in the fair value of the swap contract, net of any periodic interest accruals, are presented as part of change in unrealized appreciation (depreciation) on the Consolidated Statements of Operations. The Interest Rate Swap is recorded at fair value and is presented as a liability on the Company's Consolidated Statements of Assets and Liabilities at June 30, 2023 and December 31, 2022. Interest rate swap agreements are valued utilizing quotes received from independent pricing services or through brokers, which are derived using daily swap curves and models that incorporate a number of market data factors, such as discounted cash flows, trades and values of the underlying reference instruments. The fair value of the Interest Rate Swap is classified as Level 2 with respect to the fair value hierarchy. See Note 4 for additional information on the Company’s Interest Rate Swap. Debt Issuance Costs Certain costs incurred in connection with the issuance and/or extension of debt of the Company and its subsidiaries were capitalized and are being amortized on a straight-line basis over the estimated remaining life of the respective instruments. The impact of utilizing the straight-line amortization method versus the effective-interest method is not material to the operations of the Company. Revenue Recognition Interest and dividend income, including income paid in kind, is recorded on an accrual basis, when such amounts are considered collectible. Origination, structuring, closing, commitment and other upfront fees, including original issue discounts, earned with respect to capital commitments are generally amortized or accreted into interest income over the life of the respective debt investment, as are end-of-term or exit fees receivable upon repayment of a debt investment. Other fees, including certain amendment fees, prepayment fees and commitment fees on broken deals, are recognized as earned. Certain debt investments are purchased at a discount to par as a result of the underlying credit risks and financial results of the issuer, as well as general market factors that influence the financial markets as a whole. Discounts on the acquisition of corporate bonds are generally amortized using the effective-interest or constant-yield method assuming there are no questions as to collectability. When principal payments on a loan are received in an amount in excess of the loan’s amortized cost, the excess principal payments are recorded as interest income. For loans and securities with payment-in-kind (“PIK”) income, which represents contractual interest or dividends accrued and added to the principal balance and generally due at maturity, such income is accrued only to the extent that the Advisor believes that the PIK income is likely to be collected. To maintain the Company’s status as a RIC, this non-cash source of income must be paid out to stockholders in the form of dividends, even though the Company has not yet collected the cash. Income Taxes The Company intends to comply with the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute substantially all of its taxable income to its shareholders. Therefore, no U.S. federal income tax provision is required. The tax returns of the Company remain open for examination by tax authorities for a period of three years from the date they are filed. No such examinations are currently pending. Management has analyzed tax laws and regulations and their application to the Company as of June 30, 2023, inclusive of the open tax return years, and does not believe that there are any uncertain tax positions that require recognition of a tax liability in the consolidated financial statements. The final tax characterization of dividends is determined after the fiscal year and is reported on Form 1099 and in the Company’s annual report to shareholders. Dividends can be characterized as ordinary income, capital gains and/or return of capital. As of December 31, 2022, the Company had non-expiring capital loss carryforwards in the amount of $ 401,155,603 available to offset future realized capital gains. At December 31, 2022, gross unrealized appreciation and depreciation based on the cost of the Company's investments for U.S. federal income tax purposes were as follows: December 31, Tax basis of investments $ 615,741,586 Unrealized appreciation 49,398,479 Unrealized depreciation ( 95,970,114 ) Net unrealized depreciation (1) $ ( 46,571,635 ) (1) Includes net unrealized depreciation on the Company's Interest Rate Swap. Non-Accrual Loans Loans or debt securities are placed on non-accrual status, as a general matter, when principal or interest payments are past due 30 days or more or when there is reasonable doubt that principal or interest will be collected. Accrued interest generally is reversed when a loan or debt security is placed on non-accrual status. Interest payments received on non-accrual loans or debt securities may be recognized as income or applied to principal depending upon management’s jud |
Management Fees, Incentive Fees
Management Fees, Incentive Fees and Other Expenses | 6 Months Ended |
Jun. 30, 2023 | |
Management Fees Incentive Fees And Other Expense [Abstract] | |
Management Fees, Incentive Fees and Other Expenses | 3. Management Fees, Incentive Fees and Other Expenses Investment Management Agreement On May 2, 2020, the Company and the Advisor amended and restated the previous investment management agreement (the “Current Management Agreement”), which reduced the Company’s base management fee (“Management Fee”) and incentive management fee (“Incentive Fee”) rates, which are further described below. For terms prior to the Current Management Agreement, refer to the Company’s Form 10-K as filed with the SEC on March 1, 2023. The Current Management Agreement will be in effect from year-to-year if approved annually by the Board or by the affirmative vote of the holders of a majority of outstanding voting securities, including, in either case, approval by a majority of the directors who are not interested persons. The Company’s Board approved the continuation of the Current Management Agreement on October 28, 2022. Management Fee Under the Current Management Agreement, the Advisor, subject to the overall supervision of the Board, manages the day-to-day operations and provides the Company with investment advisory services. For providing these services, effective May 2, 2020, the Advisor receives a Management Fee at an annual rate of 1.50 % of total assets up to 200 % of net asset value (excluding cash and cash equivalents), including any assets acquired with the proceeds of leverage, payable quarterly in arrears based on the asset valuation as of the end of the prior quarter. Additionally, the Management Fee is calculated at 1.00 % on assets that exceed 200 % of net asset value of the Company. The Management Fee for any partial quarter is prorated. For the three and six months ended June 30, 2023, the Company incurred $ 2,221,908 and $ 4,352,380 , respectively, in Management Fees under the Current Management Agreement. For the three and six months ended June 30, 2022 , the Company incurred $ 1,947,167 and $ 4,007,031 , respectively, in Management Fees under the Current Management Agreement. Incentive Fees (i) Quarterly Incentive Fee Based on Income The Current Management Agreement provides that the Advisor or its affiliates may be entitled to an Incentive Fee under certain circumstances. The Incentive Fee has two parts. The first portion is based on income other than capital gains and is calculated separately for each calendar quarter and will be paid on a quarterly basis if certain circumstances are met. Effective May 2, 2020, the Incentive Fee based on income is calculated as follows: • No Incentive Fee based on income other than capital gains for any calendar quarter in which the Pre-Incentive Fee Net Investment Income does not exceed 1.75 % ( 7.00 % annualized) of net assets attributable to common stock at the beginning of such quarter. • 100 % of the Pre-Incentive Fee Net Investment Income in any calendar quarter with respect to that portion of such Pre-Incentive Fee Net Investment Income, if any, for such calendar quarter, that exceeds 1.75 % ( 7.00 % annualized) of net assets attributable to common stock at the beginning of such quarter but is less than approximately 2.12 % ( 8.48 % annualized). • 17.5 % of the Pre-Incentive Fee Net Investment Income, if any, for any calendar quarter that exceeds approximately 2.12 % ( 8.48 % annualized) of net assets attributable to common stock at the beginning of such quarter. The calculations described above will be appropriately prorated for any period of less than a quarter and adjusted for the net proceeds from any common stock issuances and the cost of any common stock repurchases during such quarter. The payment of any such Incentive Fee based on income otherwise earned by our Advisor will be deferred if, for the most recent four full calendar quarter period ending on or prior to the date such payment is to be made, the Annualized Rate of Return is less than 7.0 % of net assets attributable to common stock at the beginning of such four quarter period as adjusted for the net proceeds from any common stock issuances and the cost of any common stock repurchases during such four full calendar quarter period, with any deferred Incentive Fees to be carried over for payment in subsequent quarterly calculation periods to the extent such payment can then be made in accordance with the investment management agreement. For purposes of calculating the Incentive Fee, (i) “Annualized Rate of Return” is computed by reference to the sum of (x) the aggregate dividends to common stockholders for the period in question and (y) the change in net assets attributable to common stock (before taking into account any Incentive Fees otherwise payable during such period); (ii) “net assets attributable to common stock” means total assets less indebtedness and preferred stock; and (iii) “Pre-Incentive Fee Net Investment Income” means net investment income (as determined in accordance with U.S. GAAP) accrued by the Company during the calendar quarter excluding any accruals for or payments in respect of the Incentive Fee. For the three and six months ended June 30, 2023, the Company incurred $ 1,886,182 and $ 3,762,085 , respectively, in Incentive Fees on income. For the three and six months ended June 30, 2022 , the Company incurred $ 69,343 and $ 88,356 , respectively, in Incentive Fees on income. As of June 30, 2023 and December 31, 2022, there was $ 7,165,434 and $ 3,403,349 , respectively, of Incentive Fees payable based on income. The payment of Incentive Fee based on income of $ 7,165,434 at June 30, 2023 was deferred pursuant to the Incentive Fee deferral provision discussed above. (ii) Annual Incentive Fee Based on Capital Gains The second portion of the Incentive Fee is based on capital gains and is calculated separately for each Annual Period. Effective May 2, 2020, our Advisor is entitled to receive an Incentive Fee based on capital gains for each Annual Period in an amount equal to 17.5 % of the amount by which (1) net realized capital gains during the period, if any, exceeds (2) gross unrealized capital depreciation, if any, during the period. In calculating the portion of the Incentive Fee based on capital gains payable for any period, investments are accounted for on a security-by-security basis. In addition, the portion of the Incentive Fee based on capital gains is determined using the “period-to-period” method pursuant to which the portion of the Incentive Fee based on capital gains for any period will be based on realized capital gains for the period reduced by realized capital losses for the period and unrealized capital depreciation for the period. The Company is required under GAAP to accrue an Incentive Fee on capital gains on a hypothetical liquidation basis, based upon net realized capital gains and unrealized capital appreciation and depreciation on investments held at the end of each period. The accrued Incentive Fee on capital gains assumes all unrealized capital appreciation and depreciation is realized in order to reflect an Incentive Fee on capital gains (if any) that would be payable at each measurement date, even though unrealized capital appreciation is not permitted to be considered in determining the Incentive Fee on capital gains actually payable for each Annual Period under the Current Management Agreement. If such amount is positive at the end of the period, an Incentive Fee on capital gains is accrued equal to 17.5 % of such amount, for periods ended after May 2, 2020, less the amount of any Incentive Fees on capital gains already accrued during the Annual Period. If the resulting calculation amount is negative, the accrual for GAAP in a given period may result in the reduction or reversal of Incentive Fee expense on capital gains previously accrued during the Annual Period. In accordance with GAAP, the hypothetical liquidation for the three and six months ended June 30, 2023 resulted in no capital gains Incentive Fees. Incentive Fees on capital gains accrued (reversed) on a liquidation basis under GAAP for the three and six months ended June 30, 2022 were $( 1,073,068 ) and $( 1,544,569 ), respectively. The Company did not have an accrued balance at June 30, 2023 and December 31, 2022. For purposes of calculating the Incentive Fee based on capital gains, “Annual Period” means the period beginning on July 1 of each calendar year, including the calendar year prior to the year in which the investment management agreement became effective, and ending on June 30 of the next calendar year. Capital gains and losses are calculated using the difference between the proceeds received and either (i) fair market value at the beginning of the Annual Period or (ii) cost for investments acquired during the Annual Period. In calculating whether the portion of the Incentive Fee based on capital gains is payable with respect to any period, the Company accounts for assets on a security-by-security basis. In addition, the Company uses the “period-to-period” method pursuant to which the portion of the Incentive Fee based on capital gains for any period is based on realized capital gains for the period reduced by realized capital losses and gross unrealized capital depreciation for the period. Based on current interpretations of Section 205(b)(3) of the Advisers Act by the SEC and its staff, the calculation of unrealized depreciation for each portfolio security over a period is based on the fair value of the security at the end of the period compared to the fair value at the beginning of the period. Incentive Fees earned in any of the periods described above are not subject to modification or repayment based upon performance in a subsequent period. Other Expenses The Company bears all expenses incurred in connection with its business, such as custodian, administrative, director fees and expenses, due diligence costs, registration and listing fees, legal, audit and tax preparation fees, costs of valuing investments, insurance costs, brokers’ and finders’ fees relating to investments, and any other transaction costs associated with the purchase and sale of investments. |
Debt
Debt | 6 Months Ended |
Jun. 30, 2023 | |
Debt Disclosure [Abstract] | |
Debt | 4. Debt Debt is comprised of a senior secured revolving credit facility dated as of February 19, 2016 (as amended, amended and restated, supplemented or otherwise modified from time to time, including as amended and restated by the seventh amendment thereto, dated as of April 26, 2023, the “Credit Facility”) and senior unsecured notes issued through a private placement on June 9, 2022 by the Company and due December 9, 2025 (the “2025 Private Placement Notes”). Prior to being repaid on June 15, 2022, debt also included the Company’s unsecured convertible senior notes due 2022 (the “2022 Convertible Notes”). Effective on May 2, 2020, after obtaining stockholder approval at the annual meeting of the Company’s stockholders held on May 1, 2020, the Company’s asset coverage requirement was reduced from 200 % to 150 %, as set forth in Section 61(a)(2) of the 1940 Act, as amended by the Small Business Credit Availability Act. As of June 30, 2023 and December 31, 2022, the Company’s asset coverage was 210 % and 225 %, respectively. Total debt outstanding and available at June 30, 2023 was as follows: Maturity Rate Carrying Value Available Total Credit Facility 2025 S+ 2.25 % (1) $ 192,000,000 $ 73,000,000 (2) $ 265,000,000 (3) 2025 Private Placement Notes 2025 Fixed/Variable (4) 91,171,157 (5) — 91,171,157 Debt, net of unamortized issuance costs $ 283,171,157 $ 73,000,000 $ 356,171,157 (1) The applicable margin for SOFR-based borrowings could be either 2.00 % or 2.25 % depending on a ratio of the borrowing base to certain committed indebtedness, and is also subject to a credit spread adjustment of 0.10 %. If the Company elects to borrow based on the alternate base rate, the applicable margin could be either 1.00 % or 1.25 % depending on a ratio of the borrowing base to certain committed indebtedness. (2) Subject to borrowing base and leverage restrictions. (3) Provides for a feature that allows the Company, under certain circumstances, to increase the size of the Credit Facility up to $ 325.0 million. (4) The 2025 Private Placement Notes were issued in two tranches, consisting of a $ 35.0 million aggregate principal amount with a fixed interest rate of 5.82 % and a $ 57.0 million aggregate principal amount bearing interest at a rate equal to SOFR plus 3.14 %. (5) The carrying value of 2025 Private Placement Notes was comprised of the following: June 30, 2023 Principal amount of debt $ 92,000,000 Unamortized issuance costs ( 828,843 ) Carrying value $ 91,171,157 Total debt outstanding and available at December 31, 2022 was as follows: Maturity Rate Carrying Value Available Total Credit Facility 2025 L+ 2.00 % (1) $ 162,000,000 $ 103,000,000 (2) $ 265,000,000 (3) 2025 Private Placement Notes 2025 Fixed/Variable (4) 91,003,161 (5) — 91,003,161 Debt, net of unamortized issuance costs $ 253,003,161 $ 103,000,000 $ 356,003,161 (1) The applicable margin for LIBOR-based borrowings was either 2.00 % or 2.25 % depending on a ratio of the borrowing base to certain indebtedness. If the Company elects to borrow based on the alternate base rate, the applicable margin could be either 1.00 % or 1.25 % depending on a ratio of the borrowing base to certain indebtedness. (2) Subject to borrowing base and leverage restrictions. (3) Provides for a feature that allows the Company, under certain circumstances, to increase the size of the Credit Facility up to $ 325.0 million. (4) The 2025 Private Placement Notes were issued in two tranches, consisting of a $ 35.0 million aggregate principal amount with a fixed interest rate of 5.82 % and a $ 57.0 million aggregate principal amount bearing interest at a rate equal to SOFR plus 3.14 %. (5) The carrying value of 2025 Private Placement Notes was comprised of the following: December 31, 2022 Principal amount of debt $ 92,000,000 Unamortized issuance costs ( 996,839 ) Carrying value $ 91,003,161 The Company’s weighted average outstanding debt balance during the three months ended June 30, 2023 and 2022 was $ 278,335,448 and $ 213,448,919 , respectively. The maximum amounts borrowed during the three months ended June 30, 2023 and 2022 were $ 286,142,384 and $ 377,673,980 , respectively. The Company’s weighted average outstanding debt balance during the six months ended June 30, 2023 and 2022 was $ 270,570,675 and $ 210,643,606 , respectively. The maximum amounts borrowed during the six months ended June 30, 2023 and 2022 were $ 286,142,384 and $ 377,671,273 , respectively. The weighted average annual interest cost, including the amortization of debt issuance costs for the three and six months ended June 30, 2023 was 7.76 % and 7.45 % , respectively, exclusive of commitment fees. The weighted average annual interest cost, including the amortization of debt issuance costs for the three and six months ended June 30, 2022 was 4.98 % and 4.94 %, respectively, exclusive of commitment fees. With respect to any unused portion of the commitments under the Credit Facility, the Company incurs an annual commitment fee of 0.40 %. Total expenses related to debt for the three and six months ended June 30, 2023 and 2022 included the following: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Stated interest expense $ 5,136,153 $ 2,322,209 $ 9,546,288 $ 4,489,106 Amortization of deferred debt issuance costs 249,058 325,665 445,104 668,747 Total interest expense 5,385,211 2,647,874 9,991,392 5,157,853 Commitment and credit facility fees 97,239 212,817 209,289 431,789 Total $ 5,482,450 $ 2,860,691 $ 10,200,681 $ 5,589,642 Outstanding debt is carried at amortized cost in the Consolidated Statements of Assets and Liabilities. The fair value of the Company’s Credit Facility is derived by taking the average of the high and low quotes as obtained from a broker, and is classified as Level 2 with respect to the fair value hierarchy. The fair value of the Company’s 2025 Private Placement Notes is derived by an independent valuation firm, and is classified as Level 3 with respect to the fair value hierarchy. The carrying and fair values of the Company’s outstanding debt as of June 30, 2023 and December 31, 2022 were as follows: June 30, 2023 December 31, 2022 Carrying Value Fair Value Carrying Value Fair Value Credit Facility $ 192,000,000 $ 175,680,000 $ 162,000,000 $ 146,610,000 2025 Private Placement Notes 91,171,157 90,734,530 91,003,161 89,074,810 Total $ 283,171,157 $ 266,414,530 $ 253,003,161 $ 235,684,810 At June 30, 2023, the Company was in compliance with all covenants required under the Credit Facility and 2025 Private Placement Notes. Senior Secured Revolving Credit Facility The Company’s most recent amendment under the Credit Facility (i) replaces the LIBOR-based interest rate benchmark provisions with interest rate benchmark provisions based on (a) in the case of borrowings denominated in U.S. dollars, a forward-looking term SOFR-based rate, (b) in the case of borrowings denominated in Canadian dollars, a CDOR-based rate and (c) in the case of borrowings denominated in Euros or any other Agreed Foreign Currency (as defined in the Credit Facility) (excluding Canadian dollars), a EURIBO-based rate (such replacement benchmark as referred to in subclauses (a) – (c), collectively, the “Benchmarks”) and (ii) adds a 10 basis point credit spread adjustment for borrowings bearing interest based on SOFR. The applicable margin for Benchmark-based borrowings could be either 2.00 % or 2.25 % depending on a ratio of the borrowing base to certain committed indebtedness. If the Company elects to borrow based on the alternate base rate, the applicable margin could be either 1.00 % or 1.25 % depending on a ratio of the borrowing base to certain committed indebtedness. The Credit Facility (a) provides for amounts to be drawn up to $ 265,000,000 , by which the Company may seek an increase in the commitments to $ 325,000,000 (subject to satisfaction of certain conditions, including obtaining commitments), (b) has a maturity date of April 23, 2025 and (c) requires a minimum shareholders’ equity under the Credit Facility to the greater of (i) 33 % of the total assets of the Company and its subsidiaries and (ii) $ 240,000,000 plus 25 % of net proceeds from the sale of equity interests by the Company and its subsidiaries. Under the Credit Facility, the Company is required to comply with various customary affirmative and restrictive covenants, including reporting requirements and financial covenants, including, without limitation, covenants related to: (a) limitations on the incurrence of additional indebtedness and liens, (b) limitations on certain investments and fundamental changes, (c) limitations on dividends and certain other restricted payments, (d) certain restrictions on subsidiaries, (e) maintaining a certain minimum shareholders’ equity, (f) maintaining an asset coverage ratio of not less than 1.5 :1.0, (g) maintaining a senior coverage ratio of not less than 2.0 :1:0, (h) limitations on certain transactions with affiliates, (i) limitations on pledging certain unencumbered assets, and (j) limitations on the creation or existence of agreements that prohibit liens on certain properties of the Company and certain of its subsidiaries. These covenants are subject to important limitations and exceptions that are described in the Credit Facility and other loan documents. Further, amounts available to borrow under the Credit Facility (and the incurrence of certain other permitted debt) are also subject to compliance with a borrowing base that applies different advance rates to different types of assets in the Company’s portfolio that are pledged as collateral. The Credit Facility is secured by a lien on substantially all of the assets of the Company and its wholly owned domestic subsidiaries, subject to certain customary exceptions. Unsecured Senior Notes Due 2025 On April 21, 2022, the Company entered into a Master Note Purchase Agreement (the “Note Purchase Agreement”) governing the issuance on June 9, 2022, of $ 92,000,000 in aggregate principal amount of senior unsecured notes in two tranches to qualified institutional investors in a private placement. The Company issued $ 35,000,000 in aggregate principal amount of 2025 Private Placement Notes with a fixed interest rate of 5.82 % with interest to be paid semi-annually on June 9 and December 9 of each year, beginning on December 9, 2022 , and $ 57,000,000 in aggregate principal amount of 2025 Private Placement Notes bearing interest at a rate equal to SOFR plus 3.14 % with interest to be paid quarterly on March 9, June 9, September 9, and December 9 of each year, beginning on September 9, 2022 . In addition, during any time that the rating assigned to the 2025 Private Placement Notes declines below investment grade, the 2025 Private Placement Notes will bear interest at a rate that is increased by 1.00 %. The 2025 Private Placement Notes were issued at a closing which occurred on June 9, 2022. The 2025 Private Placement Notes will be due on December 9, 2025 unless redeemed, purchased or prepaid prior to such date by the Company or its affiliates in accordance with their terms. The Company may prepay the 2025 Private Placement Notes at its option, subject to a prepayment premium, in an amount equal to 2 % on or before June 9, 2023, 1 % after June 9, 2023 but on or before June 9, 2024, 0.5 % after June 9, 2024 but on or before June 9, 2025 and zero after June 9, 2025. In addition, the Company will be obligated to offer to repay the 2025 Private Placement Notes at par if certain change in control events occur. The 2025 Private Placement Notes are general unsecured obligations of the Company that rank pari passu with all outstanding and future unsecured unsubordinated indebtedness issued by the Company. In connection with the 2025 Private Placement Notes, the Company entered into a centrally cleared Interest Rate Swap to offset interest payable on the fixed rate tranche of the Notes. The notional amount of the Interest Rate Swap is $ 35,000,000 and matures on June 9, 2025 . Under the swap agreement, the Company receives a fixed rate of 2.633 % and pays a floating interest rate of SOFR. Such payments will be due annually. For the three and six months ended June 30, 2023 , the Company made a periodic net interest payment in the amount of $ 353,268 to the counterparty. Since the swap contract has not been designated as a hedge accounting relationship pursuant to ASC 815, “Derivatives and Hedging,” both the net interest receivable and the change in the fair value of the swap contract are presented as part of the change in unrealized appreciation (depreciation) on the Consolidated Statements of Operations. As of June 30, 2023 and December 31, 2022, the Interest Rate Swap had a fair value of $( 1,445,045 ) and $( 1,332,299 ), respectively, which is reflected as a liability on the Consolidated Statements of Assets and Liabilities; such fair value is inclusive of any net periodic interest accruals and payments on the contract. The fair value of the Interest Rate Swap is classified as Level 2 with respect to the fair value hierarchy. See Note 2 for further information. The Note Purchase Agreement contains customary terms and conditions for senior unsecured notes issued in a private placement, including, without limitation, affirmative and negative covenants such as information reporting, maintenance of the Company’s status as a business development company within the meaning of the Investment Company Act of 1940, as amended, and a regulated investment company under the Internal Revenue Code of 1986, as amended, minimum shareholders’ equity, minimum asset coverage ratio, and prohibitions on certain fundamental changes of the Company. The Note Purchase Agreement also contains customary events of default with customary cure and notice periods, including, without limitation, nonpayment, incorrect representation in any material respect, breach of covenant, cross-default under other indebtedness of the Company or certain significant subsidiaries, certain judgments and orders, and certain events of bankruptcy. Unsecured Convertible Senior Notes Due 2022 On June 13, 2017, the Company issued $ 143,750,000 in aggregate principal amount ($ 125,000,000 of the initial offering and $ 18,750,000 of the underwriters’ exercise of the overallotment option) of 5.00 % Convertible Notes due 2022 under an indenture, dated as of June 13, 2017 (the “2022 Convertible Notes Indenture”). Net proceeds to the Company from the offering, including the exercise of the overallotment option, were approximately $ 139,800,000 . The 2022 Convertible Notes matured on June 15, 2022 , and the Company fully repaid the aggregate outstanding $ 143,720,000 principal amount (post noteholder conversion) plus outstanding accrued interest. The interest rate on the notes was 5.00 % per year, payable semiannually in arrears on June 15 and December 15 of each year, commencing on December 15, 2017 . Holders were able to convert their notes at their option prior to the close of business on the business day immediately preceding December 15, 2021, in integral multiples of $ 1,000 principal amount, only under certain circumstances. Upon noteholder conversion, the Company was able to pay or deliver, as the case may be, cash, shares of our common stock or a combination of cash and shares of our common stock, at our election at an initial conversion rate of 118.2173 shares of common stock per $ 1,000 principal amount of notes, which is equivalent to an initial conversion price of approximately $ 8.46 per share of the Company’s common stock. On or after December 23, 2021, the Company was able to redeem the 2022 Convertible Notes for cash, in whole or from time to time in part, at its option in accordance with their terms. During the year ended December 31, 2022, the Company issued 3,546 shares of common stock with an aggregate value of $ 30,000 to a noteholder who elected the conversion option in lieu of principal repayment pursuant to the redemption terms of the 2022 Convertible Notes Indenture. Prior to the adoption of ASU 2020-06, the Company determined that the embedded conversion options in the 2022 Convertible Notes were not required to be separately accounted for as a derivative under U.S. GAAP. In accounting for the 2022 Convertible Notes, at the time of issuance the Company estimated separate debt and equity components, and an original issue discount equal to the equity component was recorded in additional paid-in-capital in the accompanying Consolidated Statements of Assets and Liabilities. As of January 1, 2022, the Company adopted ASU 2020-06 using the modified retrospective basis. In accordance with this guidance, the Company has recombined the equity conversion component of our 2022 Convertible Notes outstanding, and before its maturity, had begun accounting for the 2022 Convertible Notes as a single liability measured at amortized cost. This resulted in a cumulative decrease to additional paid in capital of $ 4,337,631 , offset by a decrease to accumulated loss of $ 3,888,233 as of January 1, 2022, and an increase to the carrying value of the 2022 Convertible Notes of $ 449,398 . The 2022 Convertible Notes contained certain covenants, which included covenants that required the Company to reserve shares of common stock for the purpose of satisfying all obligations to issue the underlying securities upon conversion of the securities and to furnish to holders of the securities upon request, any information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act. |
Investments
Investments | 6 Months Ended |
Jun. 30, 2023 | |
Schedule of Investments [Abstract] | |
Investments | 5. Investments Purchases of investments, including PIK, for the three and six months ended June 30, 2023 totaled $ 20,797,118 and $ 58,411,431 , respectively. Purchases of investments, including PIK, for the three and six months ended June 30, 2022 totaled $ 73,481,309 and $ 117,494,185 , respectively. Proceeds from sales, repayments and other exits of investments for the three and six months ended June 30, 2023 totaled $ 6,507,960 and $ 27,226,737 , respectively. Proceeds from sales, repayments and other exits of investments for the three and six months ended June 30, 2022 totaled $ 25,107,943 and $ 103,762,076 , respectively. At June 30, 2023, investments consisted of the following: Cost Fair Value Senior secured notes $ 988,074 $ 988,000 Unsecured debt 37,183,232 14,999,000 Subordinated debt 5,000,000 4,955,000 Senior secured loans: First lien 504,569,408 497,077,006 Second/other priority lien 83,669,054 73,886,473 Total senior secured loans 588,238,462 570,963,479 Preferred stock 40,702,606 2,400,116 Common stock 10,611,548 — Limited partnership/limited liability company interests 7,757,987 49,500 Equity warrants/options 115,348 1,482,316 Total investments $ 690,597,257 $ 595,837,411 At December 31, 2022, investments consisted of the following: Cost Fair Value Senior secured notes $ 1,920,592 $ 1,624,823 Unsecured debt 37,686,148 15,228,000 Subordinated debt 5,000,000 4,930,000 Senior secured loans: First lien 455,458,846 447,490,518 Second/other priority lien 98,468,621 90,992,663 Total senior secured loans 553,927,467 538,483,181 Preferred stock 40,527,223 2,354,224 Common stock 10,611,548 — Limited partnership/limited liability company interests 8,511,838 5,991,648 Equity warrants/options 115,348 1,877,208 Total investments $ 658,300,164 $ 570,489,084 Industry Composition The Company generally uses GICS to classify the industries of its portfolio companies. The following table shows the industry composition of the portfolio, at fair value, at June 30, 2023 and December 31, 2022. Industry June 30, 2023 December 31, 2022 Software 17.2 % 15.2 % Diversified Financial Services 14.7 14.5 Internet Software & Services 11.6 11.1 Diversified Consumer Services 7.7 8.3 Professional Services 6.9 7.2 Health Care Technology 4.3 4.4 Health Care Providers & Services 3.6 3.7 IT Services 3.4 2.5 Road & Rail 2.5 2.6 Insurance 2.5 2.5 Construction & Engineering 2.4 2.6 Containers & Packaging 2.3 2.5 Paper & Forest Products 2.2 1.7 Consumer Finance 1.9 1.3 Hotels, Restaurants & Leisure 1.9 0.9 Technology Hardware, Storage & Peripherals 1.8 1.8 Specialty Retail 1.8 1.9 Textiles, Apparel & Luxury Goods 1.7 1.7 Commercial Services & Supplies 1.1 1.1 Media 1.1 1.0 Real Estate Management & Development 1.1 1.1 Machinery 1.0 0.9 Internet & Catalog Retail 1.0 1.0 Trading Companies & Distributors 1.0 1.0 Wireless Telecommunication Services 0.8 0.8 Leisure Products 0.4 0.5 Building Products 0.4 0.4 Automobiles 0.4 0.4 Life Sciences Tools & Services 0.4 0.4 Semiconductors & Semiconductor Equipment 0.4 0.4 Distributors 0.4 0.4 Capital Markets 0.1 0.2 Health Care Equipment & Supplies — 2.5 Household Durables — 0.8 Metals & Mining — 0.6 Electrical Equipment — 0.1 Chemicals — — Oil, Gas & Consumable Fuels — — Totals 100.0 % 100.0 % The following table shows the geographic composition of the portfolio at fair value at June 30, 2023 and December 31, 2022. The geographic composition is determined by several factors including the location of the corporate headquarters and the country of registration of the portfolio company. Geography June 30, 2023 December 31, 2022 United States 84.4 % 85.4 % United Kingdom 7.3 7.2 Germany 3.6 3.7 Canada 1.1 1.1 Switzerland 1.0 1.0 Netherlands 1.0 — Slovenia 0.9 0.9 Australia 0.7 0.7 Totals 100.0 % 100.0 % Market and Credit Risk The Company has investments in lower rated and comparable quality unrated senior and junior secured, unsecured and subordinated debt securities and loans, which are subject to a greater degree of credit risk than more highly rated investments. The risk of loss due to default by the issuer is significantly greater for holders of such securities and loans, particularly in cases where the investment is unsecured or subordinated to other creditors of the issuer. In the normal course of business, the Company invests in securities and enters into transactions where risks exist due to fluctuations in the market (market risk) or failure of the issuer of a security to meet all its obligations (issuer credit risk). The value of securities held by the Company may decline in response to certain events, including those directly involving the issuers whose securities are owned by the Company; conditions affecting the general economy; overall market changes; local, regional or global political, social or economic instability; and currency and interest rate and price fluctuations. The impact of epidemics and pandemics such as the coronavirus, could affect the economies of many nations, individual companies and the market in general in ways that cannot necessarily be foreseen at the present time. Similar to issuer credit risk, the Company may be exposed to counterparty credit risk, or the risk that an entity with which the Company has unsettled or open transactions may fail to or be unable to perform on its commitments. The Company manages counterparty risk by entering into transactions only with counterparties that they believe have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. Financial assets, which potentially expose the Company to market, issuer and counterparty credit risks, consist principally of investments in portfolio companies. The extent of the Company’s exposure to market, issuer and counterparty credit risks with respect to these financial assets is generally approximated by their fair value recorded in the Consolidated Statements of Assets and Liabilities. The Company is also exposed to credit risk related to maintaining all of its cash at a major financial institution. |
Other Related Party Transaction
Other Related Party Transactions | 6 Months Ended |
Jun. 30, 2023 | |
Related Party Transactions [Abstract] | |
Other Related Party Transactions | 6. Other Related Party Transactions Advisor Reimbursements The Current Management Agreement provides that the Company will reimburse the Advisor for costs and expenses incurred by the Advisor for administrative or operating services, office space rental, office equipment and utilities allocable to the Advisor under the investment management agreement, as well as any costs and expenses incurred by the Advisor relating to any non-investment advisory, administrative or operating services- provided by the Advisor to the Company. For the three and six months ended June 30, 2023, the Company incurred $ 17,094 and $ 34,187 , respectively, for its share of office space rental, which is included in investment advisor expenses on the Consolidated Statements of Operations. For the three and six months ended June 30, 2022, the Company incurred $ 25,819 and $ 51,638 , respectively, for its share of office space rental, which is included in investment advisor expenses on the Consolidated Statements of Operations. From time to time, the Advisor and its affiliates may pay third party providers for goods or services utilized by the Company. The Company will subsequently reimburse the Advisor and its affiliates for such amounts. Reimbursements to the Advisor and their affiliates for such purposes during the three and six months ended June 30, 2023 were $ 101,450 and $ 356,469 , respectively. Reimbursements to the Advisor and their affiliates for such purposes during the three and six months ended June 30, 2022 were $ 72,211 and $ 161,895 , respectively. As of June 30, 2023 and December 31, 2022, the Company was owed $ 219,335 and zero , respectively, from the Advisor for certain professional and director fees, which is included in Prepaid expenses and other assets on the Consolidated Statements of Assets and Liabilities. No person who is an officer, director or employee of the Advisor and who serves as a director of the Company receives any compensation from the Company for such services. Directors who are not affiliated with the Advisor receive compensation for their services and reimbursement of expenses incurred to attend meetings. Administration The Company also has entered into an administration agreement with BlackRock Financial Management, Inc. (the “Administrator”) under which the Administrator provides certain administrative services to the Company. For providing these services, facilities and personnel, the Company reimburses the Administrator for the Company’s allocable portion of overhead and other expenses incurred by the Administrator in performing its obligations under the administration agreement, including rent and the Company’s allocable portion of the cost of certain of the Company’s officers and their respective staffs. For the three and six months ended June 30, 2023, the Company incurred $ 288,454 and $ 581,088 , respectively, for such administrative services expenses. For the three and six months ended June 30, 2022, the Company incurred $ 299,262 and $ 664,769 , respectively, for such administrative services expenses. Advisor Stock Transactions At June 30, 2023 and December 31, 2022 , BCIA did no t own any shares of the Company. At both June 30, 2023 and December 31, 2022 , other entities affiliated with the Administrator and Advisor beneficially owned less than 1 % of the Company’s total shares of common stock outstanding. |
Stockholders' Equity and Divide
Stockholders' Equity and Dividends | 6 Months Ended |
Jun. 30, 2023 | |
Equity [Abstract] | |
Stockholders' Equity and Dividends | 7. Stockholders’ Equity and Dividends Dividends to common stockholders are recorded on the ex-dividend date. The amount to be paid out as a dividend is determined by the Board. Net realized capital gains, if any, generally are distributed at least annually, although the Company may decide to retain such capital gains for investment. The Company has adopted a dividend reinvestment plan (the “Plan”) that provides for reinvestment of dividends on behalf of stockholders, unless a stockholder elects to receive cash. As a result, if the Board authorizes, and the Company declares, a cash dividend, then stockholders who have not “opted out” of the dividend reinvestment plan will have their cash dividends automatically reinvested in additional shares of Common Stock, rather than receiving the cash dividends. Additionally, if the Company makes a dividend to be paid in cash or in stock at the election of stockholders as of the applicable dividend record date (a “Cash/Stock Dividend”), the terms are subject to the amended Plan dated May 13, 2020 described below. For the three and six months ended June 30, 2023 and 2022, declared dividends to common stockholders were as follows: Date Declared Record Date Payment Date Type Amount Per Share Total Amount Reinvested dividends paid during quarter (1) (2) February 28, 2023 March 16, 2023 April 6, 2023 Regular $ 0.10 $ 7,257,191 $ 768,930 April 26, 2023 June 15, 2023 July 6, 2023 Regular 0.10 7,257,191 737,537 Total $ 0.20 $ 14,514,382 $ 1,506,467 Date Declared Record Date Payment Date Type Amount Per Share Total Amount Reinvested dividends paid during quarter (1) (2) March 1, 2022 March 17, 2022 April 7, 2022 Regular $ 0.10 $ 7,380,270 $ 698,261 April 27, 2022 June 16, 2022 July 7, 2022 Regular 0.10 7,363,184 744,840 Total $ 0.20 $ 14,743,454 $ 1,443,101 (1) The Company has adopted a dividend reinvestment plan that provides for reinvestment of dividends on behalf of stockholders, unless a stockholder elects to receive cash. (2) Dividends reinvested through purchase of shares in the open market. On March 6, 2018, the Company's Board adopted amendments to the Plan. Under the terms of the amended Plan, if the Company declares a dividend or determines to make a capital gain or other distribution, the reinvestment plan agent will acquire shares for the participants’ accounts, depending upon the following circumstances, (i) through receipt of additional unissued but authorized shares from the Company (“newly issued shares”) and/or (ii) by purchase of outstanding shares on the open market (“open-market purchases”). If, on the dividend payment date, the last quarterly net asset value per share (“NAV”) is equal to or less than the closing market price per share on such dividend payment date (such condition often referred to as a “market premium”), the reinvestment plan agent will invest the dividend amount in newly issued shares on behalf of the participants. The number of newly issued shares to be credited to each participant’s account will be determined by dividing the dollar amount of the dividend by the greater of (i) the NAV or (ii) 95 % of the closing market price on the dividend payment date. If, on the dividend payment date, the NAV is greater than the closing market price per share on such dividend payment date (such condition often referred to as a “market discount”), the reinvestment plan agent may, upon notice from the Company, either (a) invest the divided amount in newly issued shares on behalf of the participants or (b) invest the dividend amount in shares acquired on behalf of the participants in open-market purchases. On May 13, 2020, the Company's Board adopted further amendments to the Plan. Under the terms of the amended Plan, if the Company makes a Cash/Stock Dividend, each stockholder will be required to elect whether to receive the dividend in cash or in shares of the Company's common stock (“Common Shares”), pursuant to such notices, forms or other documentation as may be provided to the stockholder by the Company (the “Election Forms”). If the stockholder is a Plan participant and elects to receive the Cash/Stock Dividend in cash, the stockholder will be deemed to have elected not to participate in the Plan solely with respect to such Cash/Stock Dividend and will receive the dividend in cash subject to any rules applicable to the dividend that may limit the portion of the dividend the Company is required to pay in cash. If the stockholder is a Plan participant and elects to receive the Cash/Stock Dividend in stock, the stockholder will receive the dividend in newly issued Common Shares. The number of newly issued Common Shares credited to the stockholders' account in either case will be determined by dividing the dollar amount of the dividend (or portion of the dividend to be paid in Common Shares) by the price per Common Share determined in accordance with the Election Forms rather than pursuant to the formula(s) otherwise applicable under the Plan. At the Company's special meeting of stockholders held on May 3, 2022, stockholders did not approve the Company's ability to sell or otherwise issue shares of common stock at a price below its then current NAV per share for a 12-month period expiring on the anniversary of the date of stockholder approval. On October 28, 2022, the Company’s Board authorized the Company to purchase up to a total of 8,000,000 shares, commencing on November 7, 2022 and effective until the earlier of November 6, 2023 or such time that all of the authorized shares have been repurchased (the “Company Repurchase Plan”), in accordance with the guidelines specified in Rule 10b-18 and Rule 10b5-1 of the Securities Exchange Act of 1934 (the “Exchange Act”). As of June 30, 2023 , 8,000,000 shares remained available for repurchase. No shares were repurchased by the Company under the Company Repurchase Plan for the three and six months ended June 30, 2023. The following table summarizes the total shares repurchased and amounts paid by the Company under the Company Repurchase Plan, including broker fees, for the three and six months ended June 30, 2022: June 30, 2022 Shares Price Per Total Cost Three Months Ended 420,083 $ 3.78 $ 1,586,451 Six Months Ended 526,391 3.85 2,026,688 Since inception of the original repurchase plan through June 30, 2023 , the Company has purchased 11,909,890 shares of its common stock on the open market for $ 73,373,702 , including brokerage commissions through the repurchase plan. The Company currently holds the shares it repurchased in treasury stock. |
Earnings (Loss) Per Share
Earnings (Loss) Per Share | 6 Months Ended |
Jun. 30, 2023 | |
Earnings Per Share [Abstract] | |
Earnings (Loss) Per Share | 8. Earnings (loss) per share The following information sets forth the computation of basic and diluted net increase (decrease) in net assets from operations per share (earnings (loss) per share) for the three and six months ended June 30, 2023 and 2022. Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Net increase (decrease) in net assets resulting from operations $ 1,503,691 $ ( 2,540,160 ) $ 10,021,088 $ 2,982,214 Weighted average shares outstanding – basic (1) 72,571,907 73,667,822 72,571,907 73,744,580 Earnings (loss) per share – basic and diluted $ 0.02 $ ( 0.03 ) $ 0.14 $ 0.04 (1) No adjustments for interest or incremental shares on the 2022 Convertible Notes were included for the three and six months ended June 30, 2022 because the effect would be antidilutive. Diluted earnings per share is computed using the if-converted method, which assumes conversion of convertible securities at the beginning of the reporting period and is intended to show the maximum dilution effect to common stockholders regardless of how the conversion can occur. |
Commitment and Contingencies
Commitment and Contingencies | 6 Months Ended |
Jun. 30, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 9. Commitments and contingencies In the normal course of business, the Company may enter into guarantees on behalf of portfolio companies. Under these arrangements, the Company would be required to make payments to third parties if the portfolio companies were to default on their related payment obligations. There were no such guarantees outstanding at June 30, 2023 and December 31, 2022. In addition, from time to time, the Company may provide for a commitment to a portfolio company for investment in an existing or new security. At June 30, 2023 and December 31, 2022 , the Company had unfunded commitments of $ 47.2 million across 49 portfolio companies and $ 72.1 million across 51 portfolio companies, respectively. The aggregate fair value of unfunded commitments at June 30, 2023 and December 31, 2022 was $ 46.6 million and $ 70.0 million, respectively. We maintain sufficient cash on hand and available borrowings to fund such unfunded commitments should the need arise. In the normal course of business, the Company enters into contractual agreements that provide general indemnifications against losses, costs, claims and liabilities arising from the performance of individual obligations under such agreements. The Company’s individual maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Company that have not yet occurred. However, based on management’s experience, the Company expects the risk of loss to be remote. From time to time, the Company and the Advisor may be a party to certain legal proceedings incidental to the normal course of its business, including the enforcement of its rights under contracts with our portfolio companies. Further, third parties may try to seek to impose liability on the Company in connection with the activities of its portfolio companies. While the Company cannot predict the outcome of these legal proceedings with certainty, we do not expect that these proceedings will have a material effect on its consolidated financial statements. |
Financial Highlights
Financial Highlights | 6 Months Ended |
Jun. 30, 2023 | |
Investment Company [Abstract] | |
Financial Highlights | 10. Financial highlights The following per share data and ratios have been derived from information provided in the consolidated financial statements. The following is a schedule of financial highlights for a common share outstanding for the six months ended June 30, 2023 and 2022: Six Months Ended June 30, 2023 June 30, 2022 Per Share Data: Net asset value, beginning of period $ 4.39 $ 4.73 Investment Operations: Net investment income, before incentive fees 0.30 0.16 Incentive fees (1) ( 0.05 ) 0.02 Net investment income (1) 0.25 0.18 Net realized and unrealized gain (loss) ( 0.11 ) ( 0.14 ) Total from investment operations 0.14 0.04 Cumulative effect of adjustment for the adoption of ASU 2020-06 (2) — ( 0.01 ) Repurchase of common stock — 0.01 Dividends to stockholders (3) ( 0.20 ) ( 0.20 ) Net asset value, end of period $ 4.33 $ 4.57 Market price at end of period $ 3.28 $ 3.67 Total return based on market price (4) ( 4.14 )% ( 3.67 )% Total return based on net asset value (5) 4.35 % 1.44 % Shares outstanding at end of period 72,571,907 73,354,142 Ratios to average net assets (6) : Operating expenses, before incentive fees 4.40 % 3.92 % Interest and other debt related expenses 6.44 % 3.26 % Total expenses, before incentive fees 10.84 % 7.18 % Incentive fees (1) 1.18 % ( 0.42 )% Total expenses, after incentive fees 12.02 % 6.76 % Net investment income 12.42 % 7.53 % Net assets at end of period $ 314,029,059 $ 335,444,647 Portfolio turnover rate 5 % 19 % Weighted average interest rate on debt (7) 7.45 % 4.94 % Weighted average debt outstanding $ 270,570,675 $ 210,643,606 Weighted average shares outstanding 72,571,907 73,744,580 Weighted average debt per share (8) $ 3.73 $ 2.86 (1) For the six months ended June 30, 2023, the net investment income per share amount displayed above is net of incentive fees based on income of $ 0.05 per share or 1.18 % of average net assets. For the six months ended June 30, 2022, the net investment income per share amount displayed above is net of a reversal of hypothetical liquidation basis GAAP incentive fees on capital gains of $( 0.02 ) per share, or ( 0.45 )% of average net assets, and is also net of incentive fees based on income. (2) The Company adopted ASU 2020-06 under the modified retrospective basis as of January 1, 2022 (see Note 4). (3) For the six months ended June 30, 2023 , it is estimated that all of the $ 14.5 million declared dividends were from net investment income based on book income. The amount of dividend related to net investment income and return of capital will be adjusted on an annual basis, if necessary, and calculated in accordance with federal income tax regulations (see Note 2). (4) Total return based on market value is calculated by determining the percentage change in market value per share during the period and assuming that the shares are purchased at market price at the beginning of the period and the dividends are reinvested in accordance with the Company’s dividend reinvestment plan. Not annualized. (5) Total return based on net asset value is calculated by determining the percentage change in net asset value per share during the period and assuming that the shares are purchased at market price at the beginning of the period and the dividends are reinvested in accordance with the Company’s dividend reinvestment plan. Not annualized. (6) Annualized, except for incentive fees. (7) Weighted average interest rate on debt includes contractual interest and amortization of debt issuance costs (see Note 4). (8) Weighted average debt per share is calculated as weighted average debt outstanding divided by the weighted average shares outstanding during the applicable period. |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2023 | |
Subsequent Events [Abstract] | |
Subsequent events | 11. Subsequent events On August 1, 2023 , the Company’s Board declared a dividend of $ 0.10 per share, payable on October 6, 2023 to stockholders of record at the close of business on September 15, 2023 . The Company has reviewed subsequent events occurring through the date that these consolidated financial statements were available to be issued and determined that no subsequent events occurred requiring accrual or disclosure, except as disclosed above and elsewhere in these notes to consolidated financial statements. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2023 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying consolidated financial statements are prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”). The Company is an investment company following the accounting and reporting guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 946, Financial Services-Investment Company (“ASC 946”). The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries, which were established to hold certain investments of the Company. The Company owns 100 % of each subsidiary and, as such, the subsidiaries are consolidated into the Company’s consolidated financial statements. The subsidiaries hold investments which are treated as pass through entities for tax purposes. By investing through these 100 % owned subsidiaries, the Company is able to benefit from corporate tax treatment for these entities and thereby create a tax structure that is more advantageous with respect to the RIC status of the Company. Intercompany balances and transactions are eliminated in consolidation. Certain prior period information has been reclassified to conform to the current period presentation. The reclassification has no effect on the Company’s consolidated financial position or the consolidated results of operations as previously reported. Expenses are recorded on an accrual basis. |
Unaudited Interim Consolidated Financial Statements | Unaudited Interim Consolidated Financial Statements Certain financial information that is normally included in annual financial statements, including certain financial statement footnotes, prepared in accordance with GAAP, is not required for interim reporting purposes and has been condensed or omitted herein. These consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements and notes related thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, which was filed with the Securities and Exchange Commission (“SEC”) on March 1, 2023. The interim financial information at June 30, 2023 and for the three and six months ended June 30, 2023 and 2022 is unaudited. However, in the opinion of management, the interim information includes all normal recurring adjustments necessary for the fair presentation of the Company’s results for the periods presented. The results of operations for interim periods are not necessarily indicative of results to be expected for the full year. |
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, as well as the reported amounts of revenues and expenses during the reporting periods presented. Although management believes these estimates and assumptions to be reasonable, actual results could differ from those estimates and such differences could be material. |
Investment Valuation | Investment Valuation Pursuant to Rule 2a-5 (the "Rule") under the 1940 Act, the Company’s Board of Directors (the "Board") has designated BlackRock Capital Investment Advisors, LLC (“BCIA” or the “Advisor”) as the Company’s valuation designee (the “Valuation Designee”) to perform certain fair value functions, including performing fair value determinations, and has reviewed and approved amended policies and procedures adopted by BCIA to seek to ensure compliance with the requirements of the Rule as part of such designation. The Valuation Designee will provide quarterly valuation reporting and notifications on any material valuation matters to the Board as required under the Rule. Investments are recorded at fair value based upon the principles and methods of valuation set forth in the Valuation Designee's policies and procedures adopted for the Company by the Board and the Valuation Designee. Securities traded on a recognized securities exchange are valued using the close price on the exchange on valuation date. Investments for which market prices from an exchange are not readily available are valued using the last available bid price or quote provided by an independent pricing service or one or more broker-dealers or market makers, unless they are deemed not to represent fair value. Debt and equity securities for which market quotations are not readily available or for which market quotations are deemed not to represent fair value are valued at fair value as determined in good faith by or under the direction of the Company’s Valuation Designee. Because the Company expects that there will not be a readily available market for all of the investments in its portfolio, the Company expects to value a significant portion of its portfolio investments at fair value as determined in good faith by or under the direction of the Valuation Designee using a consistently applied valuation process in accordance with documented valuation policies and procedures reviewed and approved by a committee established by the Valuation Designee (the "Valuation Committee"). Due to the inherent uncertainty and subjectivity of determining the fair value of investments that do not have a readily available market value, the fair value of the Company’s investments may differ significantly from the values that would have been used had a readily available market value existed for such investments and may differ materially from the values that the Company may ultimately realize, as these amounts depend on future circumstances and cannot reasonably be determined until the individual investments are actually liquidated. Such circumstances may include macroeconomic, cyclical, geopolitical and other events and conditions such as the COVID-19 pandemic and the Russian military invasion of Ukraine, rising interest rates and risks related to inflation and credit risk, that may significantly impact the profitability or viability of businesses in which the Company is invested, and therefore may significantly impact the return on and realizability of the Company’s investments. In addition, changes in the market environment and other events may have differing impacts on the market quotations used to value some of the Company’s investments than on the fair values of the Company’s investments for which market quotations are not readily available. Market quotations may be deemed not to represent fair value in certain circumstances where the Valuation Designee believes that facts and circumstances applicable to an issuer, a seller, a purchaser or the market for a particular security cause current market quotations to not reflect the fair value of the security. Examples of these events could include cases where a security trades infrequently causing a quoted purchase or sale price to become stale, where there is a “forced” sale by a distressed seller, where market quotations vary substantially among market makers, or where there is a wide bid-ask spread or significant increase in the bid-ask spread. With respect to the Company’s investments for which market quotations are not readily available or for which market quotations are deemed not to represent fair value, the Valuation Designee has approved a multi-step valuation process applied each quarter, as described below: (i) The quarterly valuation process begins with each portfolio company or investment being initially evaluated and rated by the investment professionals of the Valuation Designee responsible for the portfolio investment; (ii) The investment professionals provide recent portfolio company financial statements and other reporting materials as and when available to independent valuation firms engaged by the Valuation Designee and approved by the Valuation Committee (with the exception of statements and materials related to investments priced directly by the Valuation Designee as described in (iv) below), such firms conduct independent appraisals each quarter and their preliminary valuation conclusions are documented and discussed with senior management of the Advisor; (iii) The Valuation Committee reviews the preliminary valuations prepared by the independent valuation firm and the Valuation Designee, as applicable; (iv) The fair value of certain investments, comprising in the aggregate, less than 5 % of the Company’s net asset value and no more than 15 % of total positions held, respectively, may be determined by the Valuation Designee in good faith without the engagement of an independent valuation firm in accordance with the Company’s valuation policy; provided that if only the threshold with respect to the number of all positions valued at zero or immaterial amounts is exceeded, the Valuation Designee may request the Valuation Committee's approval to not request a fair valuation from an independent valuation firm for all such positions; and (v) The Valuation Designee discuss valuations and determines the fair value of each investment in the portfolio in good faith based on the input of the Valuation Committee and the respective independent valuation firms. Those investments for which market quotations are not readily available or for which market quotations are deemed not to represent fair value are valued generally utilizing a market approach, an income approach, or both approaches, as appropriate. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities (including a business). The income approach uses valuation techniques to convert future amounts (for example, cash flows or earnings) to a single present amount (discounted). The measurement is based on the value indicated by current market expectations about those future amounts. In following these approaches, the types of factors that the Company may take into account in determining the fair value of its investments include, as relevant and among other factors: available current market data, including relevant and applicable market trading and transaction comparables, applicable market yields and multiples, security covenants, call protection provisions, information rights, the nature and realizable value of any collateral, the portfolio company’s ability to make payments, (e.g. non-performance risk), its earnings and discounted cash flows, the markets in which the portfolio company does business, comparisons of financial ratios of peer companies that are public, M&A comparables, the Company’s principal market (as the reporting entity), any bid for a Company asset (irrespective of the perceived validity of such bid), and enterprise values. For positions acquired during the current quarter, the Valuation Designee generally believes that cost will approximate fair value. As such, an independent valuation, in certain cases, may not be obtained until the quarter-end after the quarter the investment is acquired in. ASC 820-10, Fair Value Measurements and Disclosures (“ASC 820-10”), issued by the FASB, defines fair value, establishes a framework for measuring fair value and requires disclosures about fair value measurements. ASC 820-10 defines fair value as the price that the Company would receive upon selling an investment or pay to transfer a liability in an orderly transaction to a market participant in the principal or most advantageous market for the investment. ASC 820-10 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 Company’s assumptions about the assumptions market participants would use in pricing an asset or liability developed based on the best information available in the circumstances. Level 1 – Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Level 2 – Valuations based on unadjusted quoted prices in markets that are not active or for which most significant inputs are observable, either directly or indirectly. Level 3 – Valuations based on inputs that are unobservable and significant to the overall fair value measurement. The inputs into the determination of fair value may require significant management judgment or estimation. Transfers between levels, if any, represent the value as of the beginning of the period of any investment where a change in the pricing level occurred from the beginning to the end of the period. At June 30, 2023, the Company’s investments were categorized as follows: Level Basis for Determining Fair Value Bank Debt (1) Other (2) Equity Total 1 Quoted prices in active markets for identical assets $ — $ — $ — $ — 2 Other direct and indirect observable market inputs (3) 35,656,092 — — 35,656,092 3 Valuation sources that employ significant unobservable inputs 535,307,387 20,942,000 3,931,932 560,181,319 Total $ 570,963,479 $ 20,942,000 $ 3,931,932 $ 595,837,411 (1) Includes senior secured loans. (2) Includes senior secured notes, unsecured debt and subordinated debt. (3) For example, quoted prices in inactive markets or quotes for comparable investments. Unobservable inputs used in the fair value measurement of Level 3 investments as of June 30, 2023 included the following: Asset Type Fair Value Valuation Technique Unobservable Input Weighted Average Range (1) (Concluded Value) (2) Bank Debt $ 505,516,761 Income approach Discount rate 13.0 % - 13.8 % ( 13.5 %) 26,825,380 Market quotations Indicative bid/ask quotes 1 ( 1 ) 1,189,932 Market comparable companies Revenue multiples 0.5 x - 0.7 x ( 0.6 x) 1,775,314 Option Pricing Model Implied volatility 60.0 % - 70.0 % ( 65.0 %) Term 1.3 years - 2.3 years ( 1.8 years) EBITDA/Revenue multiples 1.8 x - 2.3 x ( 2.0 x) Other Corporate Debt 20,942,000 Income approach Discount rate 13.8 % - 15.3 % ( 14.4 %) Equity 1,399,668 Option Pricing Model EBITDA/Revenue multiples 2.4 x - 2.9 x ( 2.7 x) Implied volatility 57.8 % - 67.8 % ( 62.8 %) Term 1.5 years - 2.5 years ( 2.0 years) 2,400,116 Income approach Discount rate 13.4 % - 13.9 % ( 13.6 %) 132,148 Market comparable companies Revenue multiples 2.3 x - 2.6 x ( 2.5 x) $ 560,181,319 (1) Representing the weighted average of each significant unobservable input range at the investment level by fair value. (2) Representing the weighted average of each significant unobservable input for concluded value at the investment level by fair value. Certain fair value measurements may employ more than one valuation technique, with each valuation technique receiving a relative weight between 0 % and 100 %. Generally, a change in an unobservable input may result in a change to the value of an investment as follows: Input Impact to Value if Input Increases Impact to Value if Input Decreases Discount rate Decrease Increase Revenue multiples Increase Decrease EBITDA multiples Increase Decrease Book value multiples Increase Decrease Implied volatility Increase Decrease Term Increase Decrease Yield Increase Decrease Changes in investments categorized as Level 3 during the three months ended June 30, 2023 were as follows: Bank Debt Other Equity Total Beginning balance $ 525,892,549 $ 21,594,000 $ 8,354,948 $ 555,841,497 Net realized and unrealized gains (losses) 1,398,994 ( 150,641 ) ( 4,512,056 ) ( 3,263,703 ) Acquisitions (1) 21,238,755 1,557 89,040 21,329,352 Dispositions ( 5,719,598 ) ( 502,916 ) — ( 6,222,514 ) Transfers into Level 3 (2) 7,380,725 — — 7,380,725 Transfers out of Level 3 (3) ( 14,884,038 ) — — ( 14,884,038 ) Ending balance $ 535,307,387 $ 20,942,000 $ 3,931,932 $ 560,181,319 Net change in unrealized appreciation/depreciation during the period on investments still held at period end (included in net realized and unrealized gains/losses , above) $ 1,360,798 $ ( 150,641 ) $ ( 4,512,056 ) $ ( 3,301,899 ) (1) Includes payments received in kind and accretion of original issue and market discounts. (2) Comprised of two investments that were transferred from Level 2 to Level 3 due to decreased observable market activity. (3) Comprised of five investments that were transferred from Level 3 to Level 2 due to increased observable market activity. Changes in investments categorized as Level 3 during the six months ended June 30, 2023 were as follows: Bank Debt Other Equity Total Beginning balance $ 494,932,878 $ 21,782,823 $ 10,223,080 $ 526,938,781 Net realized and unrealized gains (losses) 1,855,751 436,820 ( 6,154,586 ) ( 3,862,015 ) Acquisitions (1) 58,314,673 3,409 175,382 58,493,464 Dispositions ( 10,258,442 ) ( 1,281,052 ) ( 311,944 ) ( 11,851,438 ) Transfers into Level 3 (2) 6,371,096 — — 6,371,096 Transfers out of Level 3 (3) ( 15,908,569 ) — — ( 15,908,569 ) Ending balance $ 535,307,387 $ 20,942,000 $ 3,931,932 $ 560,181,319 Net change in unrealized appreciation/depreciation during the period on investments still held at period end (included in net realized and unrealized gains/losses , above) $ 1,309,491 $ 367,507 $ ( 4,848,282 ) $ ( 3,171,284 ) (1) Includes payments received in kind and accretion of original issue and market discounts. (2) Comprised of two investments that were transferred from Level 2 to Level 3 due to decreased observable market activity. (3) Comprised of five investments that were transferred from Level 3 to Level 2 due to increased observable market activity. At December 31, 2022, the Company’s investments were categorized as follows: Level Basis for Determining Fair Value Bank Debt (1) Other (2) Equity Total 1 Quoted prices in active markets for identical assets $ — $ — $ — $ — 2 Other direct and indirect observable market inputs (3) 43,550,303 — — 43,550,303 3 Valuation sources that employ significant unobservable inputs 494,932,878 21,782,823 10,223,080 526,938,781 Total $ 538,483,181 $ 21,782,823 $ 10,223,080 $ 570,489,084 (1) Includes senior secured loans. (2) Includes senior secured notes, unsecured debt and subordinated debt. (3) For example, quoted prices in inactive markets or quotes for comparable investments. Unobservable inputs used in the fair value measurement of Level 3 investments as of December 31, 2022 included the following: Asset Type Fair Value Valuation Technique Unobservable Input Weighted Average Range (1) (Concluded Value) (2) Bank Debt $ 450,067,848 Income approach Discount rate 12.9 % - 13.7 % ( 13.3 %) 43,102,197 Market quotations Indicative bid/ask quotes 1 ( 1 ) 1,762,833 Option Pricing Model Implied volatility 60.0 % - 70.0 % ( 65.0 %) Term 1.8 years - 2.8 years ( 2.3 years) Other Corporate Debt 21,074,000 Income approach Discount rate 13.6 % - 15.1 % ( 14.3 %) 708,823 Market comparable companies Revenue multiples 0.1 x - 0.2 x ( 0.2 x) Equity 1,586,504 Option Pricing Model EBITDA/Revenue multiples 3.6 x - 3.9 x ( 3.8 x) Implied volatility 58.2 % - 68.2 % ( 63.2 %) Term 1.8 years - 2.9 years ( 2.4 years) 4,373,400 Market comparable companies EBITDA multiples 5.8 x - 6.8 x ( 6.3 x) 3,972,472 Income approach Discount rate 20.3 % - 32.8 % ( 24.6 %) 290,704 Market comparable companies Revenue multiples 2.1 x - 2.3 x ( 2.2 x) $ 526,938,781 (1) Representing the weighted average of each significant unobservable input range at the investment level by fair value. (2) Representing the weighted average of each significant unobservable input for concluded value at the investment level by fair value. Changes in investments categorized as Level 3 during the three months ended June 30, 2022 were as follows: Bank Debt Other Equity Total Beginning balance $ 448,941,825 $ 28,664,354 $ 12,894,493 $ 490,500,672 Net realized and unrealized gains (losses) ( 7,868,042 ) 692,232 ( 768,142 ) ( 7,943,952 ) Acquisitions (1) 71,509,591 1,318 78,729 71,589,638 Dispositions ( 20,890,895 ) ( 4,175,384 ) — ( 25,066,279 ) Transfers into Level 3 (2) 6,987,400 — — 6,987,400 Transfers out of Level 3 (3) ( 1,877,265 ) — — ( 1,877,265 ) Ending balance $ 496,802,614 $ 25,182,520 $ 12,205,080 $ 534,190,214 Net change in unrealized appreciation/depreciation during the period on investments still held at period end (included in net realized and unrealized gains/losses , above) $ ( 7,592,410 ) $ 692,232 $ ( 768,142 ) $ ( 7,668,320 ) (1) Includes payments received in kind and accretion of original issue and market discounts. (2) Comprised of one investment that was transferred from Level 2 to Level 3 due to decreased observable market activity. (3) Comprised of one investment that was transferred from Level 3 to Level 2 due to increased observable market activity. Changes in investments categorized as Level 3 during the six months ended June 30, 2022 were as follows: Bank Debt Other Equity Total Beginning balance $ 483,970,602 $ 28,568,871 $ 12,489,257 $ 525,028,730 Net realized and unrealized gains (losses) ( 9,826,619 ) 786,218 ( 453,966 ) ( 9,494,367 ) Acquisitions (1) 114,309,011 2,815 169,789 114,481,615 Dispositions ( 98,691,530 ) ( 4,175,384 ) — ( 102,866,914 ) Transfers into Level 3 (2) 7,041,150 — — 7,041,150 Ending balance $ 496,802,614 $ 25,182,520 $ 12,205,080 $ 534,190,214 Net change in unrealized appreciation/depreciation during the period on investments still held at period end (included in net realized and unrealized gains/losses , above) $ ( 9,255,305 ) $ 770,779 $ ( 453,966 ) $ ( 8,938,492 ) (1) Includes payments received in kind and accretion of original issue and market discounts. (2) Comprised of one investment that was transferred from Level 2 to Level 3 due to decreased observable market activity. |
Investment Transactions | Investment Transactions Security transactions are accounted for on the trade date unless there are substantial conditions to the transaction. Realized gains or losses are measured by the difference between the net proceeds from the disposition and the amortized cost of the investment. Unrealized gains or losses primarily reflect the change in investment values, including the reversal of previously recorded unrealized gains or losses when gains or losses are realized. Realized gains or losses on the disposition of investments are calculated using the specific identification method. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash consists of amounts held in accounts with the custodian bank. Cash equivalents include short-term liquid overnight investments with original maturities of three months or less and may not be insured by the Federal Deposit Insurance Corporation or may exceed federally insured limits. Cash equivalents are classified as Level 1 in the fair value hierarchy. |
Restricted Investments | Restricted Investments The Company may invest without limitation in instruments that are subject to legal or contractual restrictions on resale. These instruments generally may be resold to institutional investors in transactions exempt from registration or to the public if the securities are registered. Disposal of these investments may involve time-consuming negotiations and additional expense, and prompt sale at an acceptable price may be difficult. See Notes to the Consolidated Schedules of Investments. Restricted investments, including any restricted investments in affiliates, are valued in accordance with the investment valuation policies discussed above. |
Foreign Currency Investments | Foreign Currency Investments The Company may invest in instruments traded in foreign countries and denominated in foreign currencies. Foreign currency amounts are translated into U.S. dollars on the following basis: (i) market value of investment securities, other assets and liabilities—at the spot exchange rate on the last business day of the period; and (ii) purchases and sales of investment securities, income and expenses—at the rates of exchange prevailing on the respective dates of such transactions, income or expenses. Although net assets and fair values are presented based on the applicable foreign exchange rates described above, the Company may not isolate that portion of the results of operations resulting from changes in foreign exchange rates on investments from the fluctuations arising from changes in fair values of investments held. Such fluctuations are included with the net realized and unrealized gain or loss from investments. Investments denominated in foreign currencies and foreign currency transactions may involve certain considerations and risks not typically associated with those of domestic origin, including unanticipated movements in the value of the foreign currency relative to the U.S. dollar. There were no investments denominated in foreign currency as of June 30, 2023 and December 31, 2022. |
Derivatives Instruments | Derivative Instruments: The Company records all derivative financial instruments as either assets or liabilities at fair value on a gross basis in the Consolidated Statements of Assets and Liabilities. Foreign Currency Forward Contracts and Warrants The Company may enter into forward foreign currency contracts from time to time to facilitate settlement of purchases and sales of investments denominated in foreign currencies or to help mitigate the impact that an adverse change in foreign exchange rates would have on the value of the Company’s investments denominated in foreign currencies. A forward foreign currency contract is a commitment to purchase or sell a foreign currency at a future date (usually the security transaction settlement date) at a negotiated forward rate. These contracts are marked-to-market by recognizing the difference between the contract exchange rate and the current market rate as unrealized appreciation or depreciation. Realized gains or losses are recognized when contracts are settled. Risks may arise as a result of the potential inability of the counterparties to meet the terms of their contracts. The Company attempts to limit this risk by dealing with only creditworthy counterparties. There were no open forward foreign currency contracts at June 30, 2023 and December 31, 2022. The Company holds warrants and options in certain portfolio companies in an effort to achieve additional investment return. In purchasing warrants and options, the Company bears the risk of an unfavorable change in the value of the underlying equity interest. The aggregate fair value of warrants and options as of June 30, 2023 and December 31, 2022 represented 0.5 % and 0.6 % of the Company’s net assets, respectively. Interest Rate Swap The Company entered into a centrally-cleared interest rate swap (the “Interest Rate Swap”) to economically hedge the interest payable on the fixed rate tranche of the Company’s 2025 Private Placement Notes (as defined below) (see Note 4). The Company is required to deposit initial margin with the broker in the form of cash in an amount that varies depending on the size and risk profile of the particular swap. Pursuant to the contract, the Company agrees to receive from or pay to the broker daily variation margin. The amounts related to the right to claim or the obligation to return cash collateral may not be used to offset amounts due under the Interest Rate Swap contract in the normal course of settlement. Therefore, both the initial margin and variation margin paid are included as assets within Due from broker on the Consolidated Statements of Assets and Liabilities at June 30, 2023 and December 31, 2022. Changes in the fair value of the swap contract, net of any periodic interest accruals, are presented as part of change in unrealized appreciation (depreciation) on the Consolidated Statements of Operations. The Interest Rate Swap is recorded at fair value and is presented as a liability on the Company's Consolidated Statements of Assets and Liabilities at June 30, 2023 and December 31, 2022. Interest rate swap agreements are valued utilizing quotes received from independent pricing services or through brokers, which are derived using daily swap curves and models that incorporate a number of market data factors, such as discounted cash flows, trades and values of the underlying reference instruments. The fair value of the Interest Rate Swap is classified as Level 2 with respect to the fair value hierarchy. See Note 4 for additional information on the Company’s Interest Rate Swap. |
Debt Issuance Costs | Debt Issuance Costs Certain costs incurred in connection with the issuance and/or extension of debt of the Company and its subsidiaries were capitalized and are being amortized on a straight-line basis over the estimated remaining life of the respective instruments. The impact of utilizing the straight-line amortization method versus the effective-interest method is not material to the operations of the Company. |
Revenue Recognition | Revenue Recognition Interest and dividend income, including income paid in kind, is recorded on an accrual basis, when such amounts are considered collectible. Origination, structuring, closing, commitment and other upfront fees, including original issue discounts, earned with respect to capital commitments are generally amortized or accreted into interest income over the life of the respective debt investment, as are end-of-term or exit fees receivable upon repayment of a debt investment. Other fees, including certain amendment fees, prepayment fees and commitment fees on broken deals, are recognized as earned. Certain debt investments are purchased at a discount to par as a result of the underlying credit risks and financial results of the issuer, as well as general market factors that influence the financial markets as a whole. Discounts on the acquisition of corporate bonds are generally amortized using the effective-interest or constant-yield method assuming there are no questions as to collectability. When principal payments on a loan are received in an amount in excess of the loan’s amortized cost, the excess principal payments are recorded as interest income. For loans and securities with payment-in-kind (“PIK”) income, which represents contractual interest or dividends accrued and added to the principal balance and generally due at maturity, such income is accrued only to the extent that the Advisor believes that the PIK income is likely to be collected. To maintain the Company’s status as a RIC, this non-cash source of income must be paid out to stockholders in the form of dividends, even though the Company has not yet collected the cash. |
Income Taxes | Income Taxes The Company intends to comply with the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute substantially all of its taxable income to its shareholders. Therefore, no U.S. federal income tax provision is required. The tax returns of the Company remain open for examination by tax authorities for a period of three years from the date they are filed. No such examinations are currently pending. Management has analyzed tax laws and regulations and their application to the Company as of June 30, 2023, inclusive of the open tax return years, and does not believe that there are any uncertain tax positions that require recognition of a tax liability in the consolidated financial statements. The final tax characterization of dividends is determined after the fiscal year and is reported on Form 1099 and in the Company’s annual report to shareholders. Dividends can be characterized as ordinary income, capital gains and/or return of capital. As of December 31, 2022, the Company had non-expiring capital loss carryforwards in the amount of $ 401,155,603 available to offset future realized capital gains. At December 31, 2022, gross unrealized appreciation and depreciation based on the cost of the Company's investments for U.S. federal income tax purposes were as follows: December 31, Tax basis of investments $ 615,741,586 Unrealized appreciation 49,398,479 Unrealized depreciation ( 95,970,114 ) Net unrealized depreciation (1) $ ( 46,571,635 ) (1) Includes net unrealized depreciation on the Company's Interest Rate Swap. |
Non-Accrual Loans | Non-Accrual Loans Loans or debt securities are placed on non-accrual status, as a general matter, when principal or interest payments are past due 30 days or more or when there is reasonable doubt that principal or interest will be collected. Accrued interest generally is reversed when a loan or debt security is placed on non-accrual status. Interest payments received on non-accrual loans or debt securities may be recognized as income or applied to principal depending upon management’s judgment. Non-accrual loans and debt securities are restored to accrual status when past due principal and interest is paid and, in management’s judgment, are likely to remain current. The Company may make exceptions to this treatment if the loan has sufficient collateral value and is in the process of collection. |
Market and Credit Risk | Market and Credit Risk The Company has investments in lower rated and comparable quality unrated senior and junior secured, unsecured and subordinated debt securities and loans, which are subject to a greater degree of credit risk than more highly rated investments. The risk of loss due to default by the issuer is significantly greater for holders of such securities and loans, particularly in cases where the investment is unsecured or subordinated to other creditors of the issuer. In the normal course of business, the Company invests in securities and enters into transactions where risks exist due to fluctuations in the market (market risk) or failure of the issuer of a security to meet all its obligations (issuer credit risk). The value of securities held by the Company may decline in response to certain events, including those directly involving the issuers whose securities are owned by the Company; conditions affecting the general economy; overall market changes; local, regional or global political, social or economic instability; and currency and interest rate and price fluctuations. The impact of epidemics and pandemics such as the coronavirus, could affect the economies of many nations, individual companies and the market in general in ways that cannot necessarily be foreseen at the present time. Similar to issuer credit risk, the Company may be exposed to counterparty credit risk, or the risk that an entity with which the Company has unsettled or open transactions may fail to or be unable to perform on its commitments. The Company manages counterparty risk by entering into transactions only with counterparties that they believe have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. Financial assets, which potentially expose the Company to market, issuer and counterparty credit risks, consist principally of investments in portfolio companies. The extent of the Company’s exposure to market, issuer and counterparty credit risks with respect to these financial assets is generally approximated by their fair value recorded in the Consolidated Statements of Assets and Liabilities. The Company is also exposed to credit risk related to maintaining all of its cash at a major financial institution. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Accounting Policies [Abstract] | |
Schedule of Investments | At June 30, 2023, the Company’s investments were categorized as follows: Level Basis for Determining Fair Value Bank Debt (1) Other (2) Equity Total 1 Quoted prices in active markets for identical assets $ — $ — $ — $ — 2 Other direct and indirect observable market inputs (3) 35,656,092 — — 35,656,092 3 Valuation sources that employ significant unobservable inputs 535,307,387 20,942,000 3,931,932 560,181,319 Total $ 570,963,479 $ 20,942,000 $ 3,931,932 $ 595,837,411 (1) Includes senior secured loans. (2) Includes senior secured notes, unsecured debt and subordinated debt. (3) For example, quoted prices in inactive markets or quotes for comparable investments. At December 31, 2022, the Company’s investments were categorized as follows: Level Basis for Determining Fair Value Bank Debt (1) Other (2) Equity Total 1 Quoted prices in active markets for identical assets $ — $ — $ — $ — 2 Other direct and indirect observable market inputs (3) 43,550,303 — — 43,550,303 3 Valuation sources that employ significant unobservable inputs 494,932,878 21,782,823 10,223,080 526,938,781 Total $ 538,483,181 $ 21,782,823 $ 10,223,080 $ 570,489,084 (1) Includes senior secured loans. (2) Includes senior secured notes, unsecured debt and subordinated debt. (3) For example, quoted prices in inactive markets or quotes for comparable investments. |
Schedule of Unobservable Inputs Used in Fair Value Measurement of Level 3 Investments | Unobservable inputs used in the fair value measurement of Level 3 investments as of June 30, 2023 included the following: Asset Type Fair Value Valuation Technique Unobservable Input Weighted Average Range (1) (Concluded Value) (2) Bank Debt $ 505,516,761 Income approach Discount rate 13.0 % - 13.8 % ( 13.5 %) 26,825,380 Market quotations Indicative bid/ask quotes 1 ( 1 ) 1,189,932 Market comparable companies Revenue multiples 0.5 x - 0.7 x ( 0.6 x) 1,775,314 Option Pricing Model Implied volatility 60.0 % - 70.0 % ( 65.0 %) Term 1.3 years - 2.3 years ( 1.8 years) EBITDA/Revenue multiples 1.8 x - 2.3 x ( 2.0 x) Other Corporate Debt 20,942,000 Income approach Discount rate 13.8 % - 15.3 % ( 14.4 %) Equity 1,399,668 Option Pricing Model EBITDA/Revenue multiples 2.4 x - 2.9 x ( 2.7 x) Implied volatility 57.8 % - 67.8 % ( 62.8 %) Term 1.5 years - 2.5 years ( 2.0 years) 2,400,116 Income approach Discount rate 13.4 % - 13.9 % ( 13.6 %) 132,148 Market comparable companies Revenue multiples 2.3 x - 2.6 x ( 2.5 x) $ 560,181,319 (1) Representing the weighted average of each significant unobservable input range at the investment level by fair value. (2) Representing the weighted average of each significant unobservable input for concluded value at the investment level by fair value. Unobservable inputs used in the fair value measurement of Level 3 investments as of December 31, 2022 included the following: Asset Type Fair Value Valuation Technique Unobservable Input Weighted Average Range (1) (Concluded Value) (2) Bank Debt $ 450,067,848 Income approach Discount rate 12.9 % - 13.7 % ( 13.3 %) 43,102,197 Market quotations Indicative bid/ask quotes 1 ( 1 ) 1,762,833 Option Pricing Model Implied volatility 60.0 % - 70.0 % ( 65.0 %) Term 1.8 years - 2.8 years ( 2.3 years) Other Corporate Debt 21,074,000 Income approach Discount rate 13.6 % - 15.1 % ( 14.3 %) 708,823 Market comparable companies Revenue multiples 0.1 x - 0.2 x ( 0.2 x) Equity 1,586,504 Option Pricing Model EBITDA/Revenue multiples 3.6 x - 3.9 x ( 3.8 x) Implied volatility 58.2 % - 68.2 % ( 63.2 %) Term 1.8 years - 2.9 years ( 2.4 years) 4,373,400 Market comparable companies EBITDA multiples 5.8 x - 6.8 x ( 6.3 x) 3,972,472 Income approach Discount rate 20.3 % - 32.8 % ( 24.6 %) 290,704 Market comparable companies Revenue multiples 2.1 x - 2.3 x ( 2.2 x) $ 526,938,781 (1) Representing the weighted average of each significant unobservable input range at the investment level by fair value. (2) Representing the weighted average of each significant unobservable input for concluded value at the investment level by fair value. |
Schedule of Change in Value of Investment Over Change in Unobservable Input | Certain fair value measurements may employ more than one valuation technique, with each valuation technique receiving a relative weight between 0 % and 100 %. Generally, a change in an unobservable input may result in a change to the value of an investment as follows: Input Impact to Value if Input Increases Impact to Value if Input Decreases Discount rate Decrease Increase Revenue multiples Increase Decrease EBITDA multiples Increase Decrease Book value multiples Increase Decrease Implied volatility Increase Decrease Term Increase Decrease Yield Increase Decrease |
Schedule of Changes in Investments Categorized as Level 3 | Changes in investments categorized as Level 3 during the three months ended June 30, 2023 were as follows: Bank Debt Other Equity Total Beginning balance $ 525,892,549 $ 21,594,000 $ 8,354,948 $ 555,841,497 Net realized and unrealized gains (losses) 1,398,994 ( 150,641 ) ( 4,512,056 ) ( 3,263,703 ) Acquisitions (1) 21,238,755 1,557 89,040 21,329,352 Dispositions ( 5,719,598 ) ( 502,916 ) — ( 6,222,514 ) Transfers into Level 3 (2) 7,380,725 — — 7,380,725 Transfers out of Level 3 (3) ( 14,884,038 ) — — ( 14,884,038 ) Ending balance $ 535,307,387 $ 20,942,000 $ 3,931,932 $ 560,181,319 Net change in unrealized appreciation/depreciation during the period on investments still held at period end (included in net realized and unrealized gains/losses , above) $ 1,360,798 $ ( 150,641 ) $ ( 4,512,056 ) $ ( 3,301,899 ) (1) Includes payments received in kind and accretion of original issue and market discounts. (2) Comprised of two investments that were transferred from Level 2 to Level 3 due to decreased observable market activity. (3) Comprised of five investments that were transferred from Level 3 to Level 2 due to increased observable market activity. Changes in investments categorized as Level 3 during the six months ended June 30, 2023 were as follows: Bank Debt Other Equity Total Beginning balance $ 494,932,878 $ 21,782,823 $ 10,223,080 $ 526,938,781 Net realized and unrealized gains (losses) 1,855,751 436,820 ( 6,154,586 ) ( 3,862,015 ) Acquisitions (1) 58,314,673 3,409 175,382 58,493,464 Dispositions ( 10,258,442 ) ( 1,281,052 ) ( 311,944 ) ( 11,851,438 ) Transfers into Level 3 (2) 6,371,096 — — 6,371,096 Transfers out of Level 3 (3) ( 15,908,569 ) — — ( 15,908,569 ) Ending balance $ 535,307,387 $ 20,942,000 $ 3,931,932 $ 560,181,319 Net change in unrealized appreciation/depreciation during the period on investments still held at period end (included in net realized and unrealized gains/losses , above) $ 1,309,491 $ 367,507 $ ( 4,848,282 ) $ ( 3,171,284 ) (1) Includes payments received in kind and accretion of original issue and market discounts. (2) Comprised of two investments that were transferred from Level 2 to Level 3 due to decreased observable market activity. (3) Comprised of five investments that were transferred from Level 3 to Level 2 due to increased observable market activity. Changes in investments categorized as Level 3 during the three months ended June 30, 2022 were as follows: Bank Debt Other Equity Total Beginning balance $ 448,941,825 $ 28,664,354 $ 12,894,493 $ 490,500,672 Net realized and unrealized gains (losses) ( 7,868,042 ) 692,232 ( 768,142 ) ( 7,943,952 ) Acquisitions (1) 71,509,591 1,318 78,729 71,589,638 Dispositions ( 20,890,895 ) ( 4,175,384 ) — ( 25,066,279 ) Transfers into Level 3 (2) 6,987,400 — — 6,987,400 Transfers out of Level 3 (3) ( 1,877,265 ) — — ( 1,877,265 ) Ending balance $ 496,802,614 $ 25,182,520 $ 12,205,080 $ 534,190,214 Net change in unrealized appreciation/depreciation during the period on investments still held at period end (included in net realized and unrealized gains/losses , above) $ ( 7,592,410 ) $ 692,232 $ ( 768,142 ) $ ( 7,668,320 ) (1) Includes payments received in kind and accretion of original issue and market discounts. (2) Comprised of one investment that was transferred from Level 2 to Level 3 due to decreased observable market activity. (3) Comprised of one investment that was transferred from Level 3 to Level 2 due to increased observable market activity. Changes in investments categorized as Level 3 during the six months ended June 30, 2022 were as follows: Bank Debt Other Equity Total Beginning balance $ 483,970,602 $ 28,568,871 $ 12,489,257 $ 525,028,730 Net realized and unrealized gains (losses) ( 9,826,619 ) 786,218 ( 453,966 ) ( 9,494,367 ) Acquisitions (1) 114,309,011 2,815 169,789 114,481,615 Dispositions ( 98,691,530 ) ( 4,175,384 ) — ( 102,866,914 ) Transfers into Level 3 (2) 7,041,150 — — 7,041,150 Ending balance $ 496,802,614 $ 25,182,520 $ 12,205,080 $ 534,190,214 Net change in unrealized appreciation/depreciation during the period on investments still held at period end (included in net realized and unrealized gains/losses , above) $ ( 9,255,305 ) $ 770,779 $ ( 453,966 ) $ ( 8,938,492 ) (1) Includes payments received in kind and accretion of original issue and market discounts. (2) Comprised of one investment that was transferred from Level 2 to Level 3 due to decreased observable market activity. |
Schedule of Gross Unrealized Appreciation and Depreciation Based on Cost of Investments | At December 31, 2022, gross unrealized appreciation and depreciation based on the cost of the Company's investments for U.S. federal income tax purposes were as follows: December 31, Tax basis of investments $ 615,741,586 Unrealized appreciation 49,398,479 Unrealized depreciation ( 95,970,114 ) Net unrealized depreciation (1) $ ( 46,571,635 ) (1) Includes net unrealized depreciation on the Company's Interest Rate Swap. |
Debt (Tables)
Debt (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Debt Disclosure [Abstract] | |
Schedule of Debt Outstanding and Available | Total debt outstanding and available at June 30, 2023 was as follows: Maturity Rate Carrying Value Available Total Credit Facility 2025 S+ 2.25 % (1) $ 192,000,000 $ 73,000,000 (2) $ 265,000,000 (3) 2025 Private Placement Notes 2025 Fixed/Variable (4) 91,171,157 (5) — 91,171,157 Debt, net of unamortized issuance costs $ 283,171,157 $ 73,000,000 $ 356,171,157 (1) The applicable margin for SOFR-based borrowings could be either 2.00 % or 2.25 % depending on a ratio of the borrowing base to certain committed indebtedness, and is also subject to a credit spread adjustment of 0.10 %. If the Company elects to borrow based on the alternate base rate, the applicable margin could be either 1.00 % or 1.25 % depending on a ratio of the borrowing base to certain committed indebtedness. (2) Subject to borrowing base and leverage restrictions. (3) Provides for a feature that allows the Company, under certain circumstances, to increase the size of the Credit Facility up to $ 325.0 million. (4) The 2025 Private Placement Notes were issued in two tranches, consisting of a $ 35.0 million aggregate principal amount with a fixed interest rate of 5.82 % and a $ 57.0 million aggregate principal amount bearing interest at a rate equal to SOFR plus 3.14 %. (5) The carrying value of 2025 Private Placement Notes was comprised of the following: June 30, 2023 Principal amount of debt $ 92,000,000 Unamortized issuance costs ( 828,843 ) Carrying value $ 91,171,157 Total debt outstanding and available at December 31, 2022 was as follows: Maturity Rate Carrying Value Available Total Credit Facility 2025 L+ 2.00 % (1) $ 162,000,000 $ 103,000,000 (2) $ 265,000,000 (3) 2025 Private Placement Notes 2025 Fixed/Variable (4) 91,003,161 (5) — 91,003,161 Debt, net of unamortized issuance costs $ 253,003,161 $ 103,000,000 $ 356,003,161 (1) The applicable margin for LIBOR-based borrowings was either 2.00 % or 2.25 % depending on a ratio of the borrowing base to certain indebtedness. If the Company elects to borrow based on the alternate base rate, the applicable margin could be either 1.00 % or 1.25 % depending on a ratio of the borrowing base to certain indebtedness. (2) Subject to borrowing base and leverage restrictions. (3) Provides for a feature that allows the Company, under certain circumstances, to increase the size of the Credit Facility up to $ 325.0 million. (4) The 2025 Private Placement Notes were issued in two tranches, consisting of a $ 35.0 million aggregate principal amount with a fixed interest rate of 5.82 % and a $ 57.0 million aggregate principal amount bearing interest at a rate equal to SOFR plus 3.14 %. (5) The carrying value of 2025 Private Placement Notes was comprised of the following: December 31, 2022 Principal amount of debt $ 92,000,000 Unamortized issuance costs ( 996,839 ) Carrying value $ 91,003,161 |
Schedule of Total Expenses Related to Debt | Total expenses related to debt for the three and six months ended June 30, 2023 and 2022 included the following: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Stated interest expense $ 5,136,153 $ 2,322,209 $ 9,546,288 $ 4,489,106 Amortization of deferred debt issuance costs 249,058 325,665 445,104 668,747 Total interest expense 5,385,211 2,647,874 9,991,392 5,157,853 Commitment and credit facility fees 97,239 212,817 209,289 431,789 Total $ 5,482,450 $ 2,860,691 $ 10,200,681 $ 5,589,642 |
Summary of Carrying and Fair Values of Outstanding Debt | The carrying and fair values of the Company’s outstanding debt as of June 30, 2023 and December 31, 2022 were as follows: June 30, 2023 December 31, 2022 Carrying Value Fair Value Carrying Value Fair Value Credit Facility $ 192,000,000 $ 175,680,000 $ 162,000,000 $ 146,610,000 2025 Private Placement Notes 91,171,157 90,734,530 91,003,161 89,074,810 Total $ 283,171,157 $ 266,414,530 $ 253,003,161 $ 235,684,810 |
Investments (Tables)
Investments (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Schedule of Investments [Abstract] | |
Schedule of Investments | At June 30, 2023, investments consisted of the following: Cost Fair Value Senior secured notes $ 988,074 $ 988,000 Unsecured debt 37,183,232 14,999,000 Subordinated debt 5,000,000 4,955,000 Senior secured loans: First lien 504,569,408 497,077,006 Second/other priority lien 83,669,054 73,886,473 Total senior secured loans 588,238,462 570,963,479 Preferred stock 40,702,606 2,400,116 Common stock 10,611,548 — Limited partnership/limited liability company interests 7,757,987 49,500 Equity warrants/options 115,348 1,482,316 Total investments $ 690,597,257 $ 595,837,411 At December 31, 2022, investments consisted of the following: Cost Fair Value Senior secured notes $ 1,920,592 $ 1,624,823 Unsecured debt 37,686,148 15,228,000 Subordinated debt 5,000,000 4,930,000 Senior secured loans: First lien 455,458,846 447,490,518 Second/other priority lien 98,468,621 90,992,663 Total senior secured loans 553,927,467 538,483,181 Preferred stock 40,527,223 2,354,224 Common stock 10,611,548 — Limited partnership/limited liability company interests 8,511,838 5,991,648 Equity warrants/options 115,348 1,877,208 Total investments $ 658,300,164 $ 570,489,084 |
Schedule of Industry Composition of Portfolio at Fair Value | The Company generally uses GICS to classify the industries of its portfolio companies. The following table shows the industry composition of the portfolio, at fair value, at June 30, 2023 and December 31, 2022. Industry June 30, 2023 December 31, 2022 Software 17.2 % 15.2 % Diversified Financial Services 14.7 14.5 Internet Software & Services 11.6 11.1 Diversified Consumer Services 7.7 8.3 Professional Services 6.9 7.2 Health Care Technology 4.3 4.4 Health Care Providers & Services 3.6 3.7 IT Services 3.4 2.5 Road & Rail 2.5 2.6 Insurance 2.5 2.5 Construction & Engineering 2.4 2.6 Containers & Packaging 2.3 2.5 Paper & Forest Products 2.2 1.7 Consumer Finance 1.9 1.3 Hotels, Restaurants & Leisure 1.9 0.9 Technology Hardware, Storage & Peripherals 1.8 1.8 Specialty Retail 1.8 1.9 Textiles, Apparel & Luxury Goods 1.7 1.7 Commercial Services & Supplies 1.1 1.1 Media 1.1 1.0 Real Estate Management & Development 1.1 1.1 Machinery 1.0 0.9 Internet & Catalog Retail 1.0 1.0 Trading Companies & Distributors 1.0 1.0 Wireless Telecommunication Services 0.8 0.8 Leisure Products 0.4 0.5 Building Products 0.4 0.4 Automobiles 0.4 0.4 Life Sciences Tools & Services 0.4 0.4 Semiconductors & Semiconductor Equipment 0.4 0.4 Distributors 0.4 0.4 Capital Markets 0.1 0.2 Health Care Equipment & Supplies — 2.5 Household Durables — 0.8 Metals & Mining — 0.6 Electrical Equipment — 0.1 Chemicals — — Oil, Gas & Consumable Fuels — — Totals 100.0 % 100.0 % |
Schedule of Geographic Composition of Portfolio at Fair Value | The following table shows the geographic composition of the portfolio at fair value at June 30, 2023 and December 31, 2022. The geographic composition is determined by several factors including the location of the corporate headquarters and the country of registration of the portfolio company. Geography June 30, 2023 December 31, 2022 United States 84.4 % 85.4 % United Kingdom 7.3 7.2 Germany 3.6 3.7 Canada 1.1 1.1 Switzerland 1.0 1.0 Netherlands 1.0 — Slovenia 0.9 0.9 Australia 0.7 0.7 Totals 100.0 % 100.0 % |
Stockholders' Equity and Divi_2
Stockholders' Equity and Dividends (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Equity [Abstract] | |
Schedule of Declared Dividends to Common Stockholders | For the three and six months ended June 30, 2023 and 2022, declared dividends to common stockholders were as follows: Date Declared Record Date Payment Date Type Amount Per Share Total Amount Reinvested dividends paid during quarter (1) (2) February 28, 2023 March 16, 2023 April 6, 2023 Regular $ 0.10 $ 7,257,191 $ 768,930 April 26, 2023 June 15, 2023 July 6, 2023 Regular 0.10 7,257,191 737,537 Total $ 0.20 $ 14,514,382 $ 1,506,467 Date Declared Record Date Payment Date Type Amount Per Share Total Amount Reinvested dividends paid during quarter (1) (2) March 1, 2022 March 17, 2022 April 7, 2022 Regular $ 0.10 $ 7,380,270 $ 698,261 April 27, 2022 June 16, 2022 July 7, 2022 Regular 0.10 7,363,184 744,840 Total $ 0.20 $ 14,743,454 $ 1,443,101 (1) The Company has adopted a dividend reinvestment plan that provides for reinvestment of dividends on behalf of stockholders, unless a stockholder elects to receive cash. (2) Dividends reinvested through purchase of shares in the open market. |
Schedule of Total Shares Repurchased And Amounts Paid By The Company Under The Company Repurchase Plan, Including Broker Fees | The following table summarizes the total shares repurchased and amounts paid by the Company under the Company Repurchase Plan, including broker fees, for the three and six months ended June 30, 2022: June 30, 2022 Shares Price Per Total Cost Three Months Ended 420,083 $ 3.78 $ 1,586,451 Six Months Ended 526,391 3.85 2,026,688 |
Earnings (Loss) Per Share (Tabl
Earnings (Loss) Per Share (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Earnings Per Share [Abstract] | |
Schedule of Computation Basic and Diluted Net Increase (Decrease) in Net Assets from Operations Per Share | The following information sets forth the computation of basic and diluted net increase (decrease) in net assets from operations per share (earnings (loss) per share) for the three and six months ended June 30, 2023 and 2022. Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Net increase (decrease) in net assets resulting from operations $ 1,503,691 $ ( 2,540,160 ) $ 10,021,088 $ 2,982,214 Weighted average shares outstanding – basic (1) 72,571,907 73,667,822 72,571,907 73,744,580 Earnings (loss) per share – basic and diluted $ 0.02 $ ( 0.03 ) $ 0.14 $ 0.04 (1) No adjustments for interest or incremental shares on the 2022 Convertible Notes were included for the three and six months ended June 30, 2022 because the effect would be antidilutive. |
Financial Highlights (Tables)
Financial Highlights (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Investment Company [Abstract] | |
Schedule of Financial Highlights | The following per share data and ratios have been derived from information provided in the consolidated financial statements. The following is a schedule of financial highlights for a common share outstanding for the six months ended June 30, 2023 and 2022: Six Months Ended June 30, 2023 June 30, 2022 Per Share Data: Net asset value, beginning of period $ 4.39 $ 4.73 Investment Operations: Net investment income, before incentive fees 0.30 0.16 Incentive fees (1) ( 0.05 ) 0.02 Net investment income (1) 0.25 0.18 Net realized and unrealized gain (loss) ( 0.11 ) ( 0.14 ) Total from investment operations 0.14 0.04 Cumulative effect of adjustment for the adoption of ASU 2020-06 (2) — ( 0.01 ) Repurchase of common stock — 0.01 Dividends to stockholders (3) ( 0.20 ) ( 0.20 ) Net asset value, end of period $ 4.33 $ 4.57 Market price at end of period $ 3.28 $ 3.67 Total return based on market price (4) ( 4.14 )% ( 3.67 )% Total return based on net asset value (5) 4.35 % 1.44 % Shares outstanding at end of period 72,571,907 73,354,142 Ratios to average net assets (6) : Operating expenses, before incentive fees 4.40 % 3.92 % Interest and other debt related expenses 6.44 % 3.26 % Total expenses, before incentive fees 10.84 % 7.18 % Incentive fees (1) 1.18 % ( 0.42 )% Total expenses, after incentive fees 12.02 % 6.76 % Net investment income 12.42 % 7.53 % Net assets at end of period $ 314,029,059 $ 335,444,647 Portfolio turnover rate 5 % 19 % Weighted average interest rate on debt (7) 7.45 % 4.94 % Weighted average debt outstanding $ 270,570,675 $ 210,643,606 Weighted average shares outstanding 72,571,907 73,744,580 Weighted average debt per share (8) $ 3.73 $ 2.86 (1) For the six months ended June 30, 2023, the net investment income per share amount displayed above is net of incentive fees based on income of $ 0.05 per share or 1.18 % of average net assets. For the six months ended June 30, 2022, the net investment income per share amount displayed above is net of a reversal of hypothetical liquidation basis GAAP incentive fees on capital gains of $( 0.02 ) per share, or ( 0.45 )% of average net assets, and is also net of incentive fees based on income. (2) The Company adopted ASU 2020-06 under the modified retrospective basis as of January 1, 2022 (see Note 4). (3) For the six months ended June 30, 2023 , it is estimated that all of the $ 14.5 million declared dividends were from net investment income based on book income. The amount of dividend related to net investment income and return of capital will be adjusted on an annual basis, if necessary, and calculated in accordance with federal income tax regulations (see Note 2). (4) Total return based on market value is calculated by determining the percentage change in market value per share during the period and assuming that the shares are purchased at market price at the beginning of the period and the dividends are reinvested in accordance with the Company’s dividend reinvestment plan. Not annualized. (5) Total return based on net asset value is calculated by determining the percentage change in net asset value per share during the period and assuming that the shares are purchased at market price at the beginning of the period and the dividends are reinvested in accordance with the Company’s dividend reinvestment plan. Not annualized. (6) Annualized, except for incentive fees. (7) Weighted average interest rate on debt includes contractual interest and amortization of debt issuance costs (see Note 4). (8) Weighted average debt per share is calculated as weighted average debt outstanding divided by the weighted average shares outstanding during the applicable period. |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Schedule Of Summary Of Significant Accounting Policies [Line Items] | ||
Aggregate fair value of warrants and options | 0.60% | |
Percentage of aggregate fair value of warrants and options on net assets | 0.50% | |
Non-expiring capital loss carryforwards | $ 401,155,603 | |
Maximum | ||
Schedule Of Summary Of Significant Accounting Policies [Line Items] | ||
Percentage of aggregate fair value of net assets | 5% | |
Percent of positions held | 15% | |
Maximum | Level 3 | ||
Schedule Of Summary Of Significant Accounting Policies [Line Items] | ||
Valuation technique relative weight range | 100% | |
Minimum | Level 3 | ||
Schedule Of Summary Of Significant Accounting Policies [Line Items] | ||
Valuation technique relative weight range | 0% | |
Foreign Currency Forward Contracts | ||
Schedule Of Summary Of Significant Accounting Policies [Line Items] | ||
Forward foreign currency contracts | $ 0 | $ 0 |
BlackRock Capital Investment Corporation | ||
Schedule Of Summary Of Significant Accounting Policies [Line Items] | ||
Ownership percentage by parent | 100% |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Schedule of Investments (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Fair Value | $ 595,837,411 | $ 570,489,084 |
Bank Debt | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Fair Value | 570,963,479 | 538,483,181 |
Other Corporate Debt | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Fair Value | 20,942,000 | 21,782,823 |
Equity Securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Fair Value | 3,931,932 | 10,223,080 |
Quoted Prices in Active Markets for Identical Assets | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Fair Value | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets | Bank Debt | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Fair Value | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets | Other Corporate Debt | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Fair Value | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets | Equity Securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Fair Value | 0 | 0 |
Other Direct and Indirect Observable Market Inputs | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Fair Value | 35,656,092 | 43,550,303 |
Other Direct and Indirect Observable Market Inputs | Bank Debt | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Fair Value | 35,656,092 | 43,550,303 |
Other Direct and Indirect Observable Market Inputs | Other Corporate Debt | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Fair Value | 0 | 0 |
Other Direct and Indirect Observable Market Inputs | Equity Securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Fair Value | 0 | 0 |
Valuation Sources that Employ Significant Unobservable Inputs | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Fair Value | 560,181,319 | 526,938,781 |
Valuation Sources that Employ Significant Unobservable Inputs | Bank Debt | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Fair Value | 535,307,387 | 494,932,878 |
Valuation Sources that Employ Significant Unobservable Inputs | Other Corporate Debt | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Fair Value | 20,942,000 | 21,782,823 |
Valuation Sources that Employ Significant Unobservable Inputs | Equity Securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investments, Fair Value | $ 3,931,932 | $ 10,223,080 |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Schedule of Unobservable Inputs Used in Fair Value Measurement of Level 3 Investments (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Investments, Fair Value | $ 595,837,411 | $ 570,489,084 |
Bank Debt | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Investments, Fair Value | 570,963,479 | 538,483,181 |
Other Corporate Debt | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Investments, Fair Value | 20,942,000 | 21,782,823 |
Equity Securities | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Investments, Fair Value | 3,931,932 | 10,223,080 |
Level 3 | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Investments, Fair Value | $ 560,181,319 | 526,938,781 |
Level 3 | Minimum | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Weighted Average Range | 0% | |
Level 3 | Maximum | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Weighted Average Range | 100% | |
Level 3 | Bank Debt | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Investments, Fair Value | $ 535,307,387 | 494,932,878 |
Level 3 | Bank Debt | Income Approach | Discount Rate | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Investments, Fair Value | $ 505,516,761 | $ 450,067,848 |
Concluded Value | 13.50% | 13.30% |
Level 3 | Bank Debt | Income Approach | Discount Rate | Minimum | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Weighted Average Range | 13% | 12.90% |
Level 3 | Bank Debt | Income Approach | Discount Rate | Maximum | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Weighted Average Range | 13.80% | 13.70% |
Level 3 | Bank Debt | Market Quotations | Indicative Bid/Ask Quotes | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Investments, Fair Value | $ 26,825,380 | |
Weighted Average Range | 1% | |
Concluded Value | 1% | |
Level 3 | Bank Debt | Market Comparable Companies | Revenue Multiple | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Investments, Fair Value | $ 1,189,932 | |
Concluded Value | 0.006 | |
Level 3 | Bank Debt | Market Comparable Companies | Revenue Multiple | Minimum | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Weighted Average Range | 0.005 | |
Level 3 | Bank Debt | Market Comparable Companies | Revenue Multiple | Maximum | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Weighted Average Range | 0.007 | |
Level 3 | Bank Debt | Option Pricing Model | Implied Volatility | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Investments, Fair Value | $ 1,775,314 | $ 1,762,833 |
Concluded Value | 65% | 65% |
Level 3 | Bank Debt | Option Pricing Model | Implied Volatility | Minimum | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Weighted Average Range | 60% | 60% |
Level 3 | Bank Debt | Option Pricing Model | Implied Volatility | Maximum | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Weighted Average Range | 70% | 70% |
Level 3 | Bank Debt | Option Pricing Model | Term | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Weighted Average Range, Term | 1 year 9 months 18 days | 2 years 3 months 18 days |
Level 3 | Bank Debt | Option Pricing Model | Term | Minimum | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Weighted Average Range, Term | 1 year 3 months 18 days | 1 year 9 months 18 days |
Level 3 | Bank Debt | Option Pricing Model | Term | Maximum | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Weighted Average Range, Term | 2 years 3 months 18 days | 2 years 9 months 18 days |
Level 3 | Bank Debt | Option Pricing Model | EBITDA Multiples | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Concluded Value | 0.02 | |
Level 3 | Bank Debt | Option Pricing Model | EBITDA Multiples | Minimum | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Weighted Average Range | 1.80% | |
Level 3 | Bank Debt | Option Pricing Model | EBITDA Multiples | Maximum | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Weighted Average Range | 2.30% | |
Level 3 | Other Corporate Debt | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Investments, Fair Value | $ 20,942,000 | $ 21,782,823 |
Level 3 | Other Corporate Debt | Income Approach | Discount Rate | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Investments, Fair Value | $ 20,942,000 | $ 21,074,000 |
Concluded Value | 14.30% | |
Concluded Value | 0.144 | |
Level 3 | Other Corporate Debt | Income Approach | Discount Rate | Minimum | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Weighted Average Range | 13.80% | 13.60% |
Level 3 | Other Corporate Debt | Income Approach | Discount Rate | Maximum | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Weighted Average Range | 15.30% | 15.10% |
Level 3 | Other Corporate Debt | Market Comparable Companies | Revenue Multiple | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Investments, Fair Value | $ 708,823 | |
Concluded Value | 0.2 | |
Level 3 | Other Corporate Debt | Market Comparable Companies | Revenue Multiple | Minimum | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Weighted Average Range | 0.1 | |
Level 3 | Other Corporate Debt | Market Comparable Companies | Revenue Multiple | Maximum | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Weighted Average Range | 0.2 | |
Level 3 | Equity Securities | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Investments, Fair Value | $ 3,931,932 | $ 10,223,080 |
Level 3 | Equity Securities | Income Approach | Discount Rate | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Investments, Fair Value | $ 2,400,116 | $ 3,972,472 |
Concluded Value | 24.60% | |
Concluded Value | 0.136 | |
Level 3 | Equity Securities | Income Approach | Discount Rate | Minimum | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Weighted Average Range | 13.40% | 20.30% |
Level 3 | Equity Securities | Income Approach | Discount Rate | Maximum | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Weighted Average Range | 13.90% | 32.80% |
Level 3 | Equity Securities | Market Quotations | Indicative Bid/Ask Quotes | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Investments, Fair Value | $ 43,102,197 | |
Weighted Average Range | 1 | |
Concluded Value | 1 | |
Level 3 | Equity Securities | Market Comparable Companies | Revenue Multiple | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Investments, Fair Value | $ 132,148 | $ 290,704 |
Concluded Value | 0.025 | 2.2 |
Level 3 | Equity Securities | Market Comparable Companies | Revenue Multiple | Minimum | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Weighted Average Range | 2.30% | |
Weighted Average Range | 2.1 | |
Level 3 | Equity Securities | Market Comparable Companies | Revenue Multiple | Maximum | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Weighted Average Range | 2.60% | |
Weighted Average Range | 2.3 | |
Level 3 | Equity Securities | Market Comparable Companies | EBITDA Multiples | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Investments, Fair Value | $ 4,373,400 | |
Concluded Value | 6.3 | |
Level 3 | Equity Securities | Market Comparable Companies | EBITDA Multiples | Minimum | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Weighted Average Range | 5.8 | |
Level 3 | Equity Securities | Market Comparable Companies | EBITDA Multiples | Maximum | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Weighted Average Range | 6.8 | |
Level 3 | Equity Securities | Option Pricing Model | EBITDA/Revenue Multiples | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Investments, Fair Value | $ 1,399,668 | $ 1,586,504 |
Concluded Value | 0.027 | 3.8 |
Level 3 | Equity Securities | Option Pricing Model | EBITDA/Revenue Multiples | Minimum | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Weighted Average Range | 0.024 | 3.6 |
Level 3 | Equity Securities | Option Pricing Model | EBITDA/Revenue Multiples | Maximum | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Weighted Average Range | 0.029 | 3.9 |
Level 3 | Equity Securities | Option Pricing Model | Implied Volatility | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Concluded Value | 63.20% | |
Concluded Value | 0.628 | |
Level 3 | Equity Securities | Option Pricing Model | Implied Volatility | Minimum | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Weighted Average Range | 57.80% | 58.20% |
Level 3 | Equity Securities | Option Pricing Model | Implied Volatility | Maximum | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Weighted Average Range | 67.80% | 68.20% |
Level 3 | Equity Securities | Option Pricing Model | Term | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Weighted Average Range, Term | 2 years | 2 years 4 months 24 days |
Level 3 | Equity Securities | Option Pricing Model | Term | Minimum | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Weighted Average Range, Term | 1 year 6 months | 1 year 9 months 18 days |
Level 3 | Equity Securities | Option Pricing Model | Term | Maximum | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Weighted Average Range, Term | 2 years 6 months | 2 years 10 months 24 days |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies - Schedule of Change in Value of Investment Over Change in Unobservable Input (Details) | 6 Months Ended |
Jun. 30, 2023 | |
Discount Rate | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |
Impact to Value if Input Increases | Decrease |
Impact to Value if Input Decreases | Increase |
Revenue Multiple | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |
Impact to Value if Input Increases | Increase |
Impact to Value if Input Decreases | Decrease |
EBITDA Multiples | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |
Impact to Value if Input Increases | Increase |
Impact to Value if Input Decreases | Decrease |
Book Value Multiples | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |
Impact to Value if Input Increases | Increase |
Impact to Value if Input Decreases | Decrease |
Implied Volatility | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |
Impact to Value if Input Increases | Increase |
Impact to Value if Input Decreases | Decrease |
Term | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |
Impact to Value if Input Increases | Increase |
Impact to Value if Input Decreases | Decrease |
Yield | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |
Impact to Value if Input Increases | Increase |
Impact to Value if Input Decreases | Decrease |
Summary of Significant Accoun_8
Summary of Significant Accounting Policies - Schedule of Changes in Investments Categorized as Level 3 (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||||
Beginning balance | $ 555,841,497 | $ 490,500,672 | $ 526,938,781 | $ 525,028,730 |
Net realized and unrealized gains (losses) | $ (3,263,703) | $ (7,943,952) | $ (3,862,015) | $ (9,494,367) |
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Gain (Loss) on Investments | Gain (Loss) on Investments | Gain (Loss) on Investments | Gain (Loss) on Investments |
Acquisitions | $ 21,329,352 | $ 71,589,638 | $ 58,493,464 | $ 114,481,615 |
Dispositions | (6,222,514) | (25,066,279) | (11,851,438) | (102,866,914) |
Transfers into Level 3 | 7,380,725 | 6,987,400 | 6,371,096 | 7,041,150 |
Transfers out of Level 3 | (14,884,038) | (1,877,265) | (15,908,569) | |
Ending balance | 560,181,319 | 534,190,214 | 560,181,319 | 534,190,214 |
Net change in unrealized appreciation/depreciation during the period on investments still held at period end (included in net realized and unrealized gains/losses, above) | $ (3,301,899) | $ (7,668,320) | $ (3,171,284) | $ (8,938,492) |
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Unrealized Gain (Loss), Investment, Derivative, and Foreign Currency Transaction Price Change, Operating, after Tax | Unrealized Gain (Loss), Investment, Derivative, and Foreign Currency Transaction Price Change, Operating, after Tax | Unrealized Gain (Loss), Investment, Derivative, and Foreign Currency Transaction Price Change, Operating, after Tax | Unrealized Gain (Loss), Investment, Derivative, and Foreign Currency Transaction Price Change, Operating, after Tax |
Bank Debt | ||||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||||
Beginning balance | $ 525,892,549 | $ 448,941,825 | $ 494,932,878 | $ 483,970,602 |
Net realized and unrealized gains (losses) | $ 1,398,994 | $ (7,868,042) | $ 1,855,751 | $ (9,826,619) |
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Gain (Loss) on Investments | Gain (Loss) on Investments | Gain (Loss) on Investments | Gain (Loss) on Investments |
Acquisitions | $ 21,238,755 | $ 71,509,591 | $ 58,314,673 | $ 114,309,011 |
Dispositions | (5,719,598) | 20,890,895 | (10,258,442) | (98,691,530) |
Transfers into Level 3 | 7,380,725 | 6,987,400 | 6,371,096 | 7,041,150 |
Transfers out of Level 3 | (14,884,038) | 0 | 0 | |
Ending balance | 535,307,387 | 496,802,614 | 535,307,387 | 496,802,614 |
Net change in unrealized appreciation/depreciation during the period on investments still held at period end (included in net realized and unrealized gains/losses, above) | $ 1,360,798 | $ (7,592,410) | $ 1,309,491 | $ (9,255,305) |
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Unrealized Gain (Loss), Investment, Derivative, and Foreign Currency Transaction Price Change, Operating, after Tax | Unrealized Gain (Loss), Investment, Derivative, and Foreign Currency Transaction Price Change, Operating, after Tax | Unrealized Gain (Loss), Investment, Derivative, and Foreign Currency Transaction Price Change, Operating, after Tax | Unrealized Gain (Loss), Investment, Derivative, and Foreign Currency Transaction Price Change, Operating, after Tax |
Other Corporate Debt | ||||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||||
Beginning balance | $ 21,594,000 | $ 28,664,354 | $ 21,782,823 | $ 28,568,871 |
Net realized and unrealized gains (losses) | $ (150,641) | $ 692,232 | $ 436,820 | $ 786,218 |
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Gain (Loss) on Investments | Gain (Loss) on Investments | Gain (Loss) on Investments | Gain (Loss) on Investments |
Acquisitions | $ 1,557 | $ 1,318 | $ 3,409 | $ 2,815 |
Dispositions | (502,916) | 4,175,384 | (1,281,052) | (4,175,384) |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | |
Ending balance | 20,942,000 | 25,182,520 | 20,942,000 | 25,182,520 |
Net change in unrealized appreciation/depreciation during the period on investments still held at period end (included in net realized and unrealized gains/losses, above) | $ (150,641) | $ 692,232 | $ 367,507 | $ 770,779 |
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Unrealized Gain (Loss), Investment, Derivative, and Foreign Currency Transaction Price Change, Operating, after Tax | Unrealized Gain (Loss), Investment, Derivative, and Foreign Currency Transaction Price Change, Operating, after Tax | Unrealized Gain (Loss), Investment, Derivative, and Foreign Currency Transaction Price Change, Operating, after Tax | Unrealized Gain (Loss), Investment, Derivative, and Foreign Currency Transaction Price Change, Operating, after Tax |
Equity Securities | ||||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||||
Beginning balance | $ 8,354,948 | $ 12,894,493 | $ 10,223,080 | $ 12,489,257 |
Net realized and unrealized gains (losses) | $ (4,512,056) | $ (768,142) | $ (6,154,586) | $ (453,966) |
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Gain (Loss) on Investments | Gain (Loss) on Investments | Gain (Loss) on Investments | Gain (Loss) on Investments |
Acquisitions | $ 89,040 | $ 78,729 | $ 175,382 | $ 169,789 |
Dispositions | 0 | 0 | (311,944) | 0 |
Transfers into Level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | |
Ending balance | 3,931,932 | 12,205,080 | 3,931,932 | 12,205,080 |
Net change in unrealized appreciation/depreciation during the period on investments still held at period end (included in net realized and unrealized gains/losses, above) | $ (4,512,056) | $ (768,142) | $ (4,848,282) | $ (453,966) |
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Unrealized Gain (Loss), Investment, Derivative, and Foreign Currency Transaction Price Change, Operating, after Tax | Unrealized Gain (Loss), Investment, Derivative, and Foreign Currency Transaction Price Change, Operating, after Tax | Unrealized Gain (Loss), Investment, Derivative, and Foreign Currency Transaction Price Change, Operating, after Tax | Unrealized Gain (Loss), Investment, Derivative, and Foreign Currency Transaction Price Change, Operating, after Tax |
Summary of Significant Accoun_9
Summary of Significant Accounting Policies - Schedule of Changes in Investments Categorized as Level 3 (Parenthetical) (Details) - Investment | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Level 3 | ||||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||||
Number of investment transferred from level 3 to level 2 | 5 | 1 | 5 | |
Level 2 | ||||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||||
Number of investment transferred from level 2 to level 3 | 2 | 1 | 2 | 1 |
Summary of Significant Accou_10
Summary of Significant Accounting Policies - Schedule of Gross Unrealized Appreciation and Depreciation Based on Cost of Investments (Details) | Dec. 31, 2022 USD ($) | |
Accounting Policies [Abstract] | ||
Tax basis of investments | $ 615,741,586 | |
Unrealized appreciation | 49,398,479 | |
Unrealized depreciation | (95,970,114) | |
Net unrealized depreciation | $ (46,571,635) | [1] |
[1] Includes net unrealized depreciation on the Company's Interest Rate Swap. |
Management Fees, Incentive Fe_2
Management Fees, Incentive Fees and Other Expenses - Additional Information (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||||
May 02, 2020 | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | ||
Management Fees Incentive Fees And Other Expenses [Line Items] | |||||||
Threshold percentage of management fee on net asset value | 200% | ||||||
Management fee | $ 2,221,908 | $ 1,947,167 | $ 4,352,380 | $ 4,007,031 | |||
Incentive fees on income | 1,886,182 | 69,343 | 3,762,085 | 88,356 | |||
Incentive fees payable based on income | 7,165,434 | 7,165,434 | $ 3,403,349 | ||||
Incentive fees on capital gains accrued (reversal) on liquidation basis | [1] | $ 0 | $ (1,073,068) | $ 0 | $ (1,544,569) | ||
Maximum | |||||||
Management Fees Incentive Fees And Other Expenses [Line Items] | |||||||
Percentage of net assets attributable to common stock | 7% | ||||||
Pre-Incentive Fee Net Investment Income Less than 1.75% of Net Assets [Member] | |||||||
Management Fees Incentive Fees And Other Expenses [Line Items] | |||||||
Incentive fee based on income | 0% | ||||||
Quarterly percentage of net assets attributable to common stock | 1.75% | ||||||
Annual percentage of net assets attributable to common stock | 7% | ||||||
Pre-Incentive Fee Net Investment Income Between 1.75% to 2.12% of Net Assets [Member] | |||||||
Management Fees Incentive Fees And Other Expenses [Line Items] | |||||||
Incentive fee based on income | 100% | ||||||
Pre-Incentive Fee Net Investment Income Between 1.75% to 2.12% of Net Assets [Member] | Maximum | |||||||
Management Fees Incentive Fees And Other Expenses [Line Items] | |||||||
Quarterly percentage of net assets attributable to common stock | 2.12% | ||||||
Annual percentage of net assets attributable to common stock | 8.48% | ||||||
Pre-Incentive Fee Net Investment Income Between 1.75% to 2.12% of Net Assets [Member] | Minimum | |||||||
Management Fees Incentive Fees And Other Expenses [Line Items] | |||||||
Quarterly percentage of net assets attributable to common stock | 1.75% | ||||||
Annual percentage of net assets attributable to common stock | 7% | ||||||
Pre-Incentive Fee Net Investment Income More than 2.12% of Net Assets [Member] | |||||||
Management Fees Incentive Fees And Other Expenses [Line Items] | |||||||
Incentive fee based on income | 17.50% | ||||||
Quarterly percentage of net assets attributable to common stock | 2.12% | ||||||
Annual percentage of net assets attributable to common stock | 8.48% | ||||||
Annual Incentive Fee Based on Capital Gains | |||||||
Management Fees Incentive Fees And Other Expenses [Line Items] | |||||||
Incentive fee based on income | 17.50% | ||||||
Assets up to 200% of NAV | |||||||
Management Fees Incentive Fees And Other Expenses [Line Items] | |||||||
Management fee as percentage on total assets | 1.50% | ||||||
Assets exceeding 200% of NAV | |||||||
Management Fees Incentive Fees And Other Expenses [Line Items] | |||||||
Management fee as percentage on total assets | 1% | ||||||
[1] Net investment income and per share amounts displayed above are net of the reversal for incentive fees on capital gains which is reflected on a hypothetical liquidation basis in accordance with GAAP for the three and six month periods ended June 30, 2022 (see Note 3). |
Debt - Additional Information (
Debt - Additional Information (Details) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||
Jun. 09, 2022 USD ($) Tranche | Jun. 13, 2017 USD ($) $ / shares | Jun. 30, 2023 USD ($) | Mar. 31, 2023 | Jun. 30, 2022 USD ($) | Jun. 30, 2023 USD ($) | Jun. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) shares | Jan. 01, 2022 USD ($) | May 02, 2020 | May 01, 2020 | |
Debt Instrument [Line Items] | |||||||||||
Percentage of asset coverage requirement | 150% | 200% | |||||||||
Percentage of asset Coverage | 210% | 210% | 225% | ||||||||
Weighted average outstanding debt balance | $ 278,335,448 | $ 213,448,919 | $ 270,570,675 | $ 210,643,606 | |||||||
Maximum amounts borrowed | $ 286,142,384 | $ 286,142,384 | $ 377,671,273 | ||||||||
Maximum amounts borrowed | $ 377,673,980 | ||||||||||
Weighted average annual interest cost | 7.76% | 4.98% | 7.45% | 4.94% | |||||||
Line of credit facility unused portion of commitment fee percentage | 0.40% | ||||||||||
Credit facility, commitment fee amount | $ 97,239 | $ 212,817 | $ 209,289 | $ 431,789 | |||||||
Decrease in accumulated loss | (462,881,072) | (462,881,072) | $ (458,387,778) | ||||||||
Interest Rate Swap | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Notional amount | $ 35,000,000 | $ 35,000,000 | |||||||||
Maturity date | Jun. 09, 2025 | ||||||||||
Fixed interest rate | 2.633% | 2.633% | |||||||||
Periodic payment | $ 353,268 | $ 353,268 | |||||||||
Fair value | $ (1,445,045) | $ (1,445,045) | (1,332,299) | ||||||||
SOFR | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Adjustment to credit spread percentage | 0.10% | 0.10% | |||||||||
ASU 2020-06 | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Decrease in accumulated loss | $ 3,888,233 | ||||||||||
Decrease in additional paid in capital | 4,337,631 | ||||||||||
Increase in carrying value of Convertible Notes | $ 449,398 | ||||||||||
Senior Secured Revolving Credit Facility | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Credit facility, maximum borrowing capacity | $ 265,000,000 | $ 265,000,000 | 265,000,000 | ||||||||
Credit facility, increase in borrowing capacity subject to satisfaction of certain conditions | $ 325,000,000 | $ 325,000,000 | $ 325,000,000 | ||||||||
Credit facility maturity date | Apr. 23, 2025 | ||||||||||
Minimum shareholders' equity requirement percentage of total assets | 33% | ||||||||||
Net proceeds from sale of equity interests | $ 240,000,000 | ||||||||||
Net proceeds from sale of equity interests percentage | 25% | ||||||||||
Debt instrument, covenant description | Under the Credit Facility, the Company is required to comply with various customary affirmative and restrictive covenants, including reporting requirements and financial covenants, including, without limitation, covenants related to: (a) limitations on the incurrence of additional indebtedness and liens, (b) limitations on certain investments and fundamental changes, (c) limitations on dividends and certain other restricted payments, (d) certain restrictions on subsidiaries, (e) maintaining a certain minimum shareholders’ equity, (f) maintaining an asset coverage ratio of not less than 1.5:1.0, (g) maintaining a senior coverage ratio of not less than 2.0:1:0, (h) limitations on certain transactions with affiliates, (i) limitations on pledging certain unencumbered assets, and (j) limitations on the creation or existence of agreements that prohibit liens on certain properties of the Company and certain of its subsidiaries. These covenants are subject to important limitations and exceptions that are described in the Credit Facility and other loan documents. Further, amounts available to borrow under the Credit Facility (and the incurrence of certain other permitted debt) are also subject to compliance with a borrowing base that applies different advance rates to different types of assets in the Company’s portfolio that are pledged as collateral. The Credit Facility is secured by a lien on substantially all of the assets of the Company and its wholly owned domestic subsidiaries, subject to certain customary exceptions. | ||||||||||
Senior Secured Revolving Credit Facility | Minimum | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Applicable margin for ABR borrowings | 1% | 1% | 1% | ||||||||
Debt instrument, asset coverage ratio | 1.5 | 1.5 | |||||||||
Debt instrument, senior coverage ratio | 2 | 2 | |||||||||
Senior Secured Revolving Credit Facility | Maximum | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Applicable margin for ABR borrowings | 1.25% | 1.25% | 1.25% | ||||||||
Senior Secured Revolving Credit Facility | SOFR | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Credit spread adjustment (percent) | 0.10% | ||||||||||
Debt instrument, basis spread on variable rate | 2.25% | ||||||||||
Senior Secured Revolving Credit Facility | SOFR | Minimum | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Applicable margin for Benchmark-based borrowings | 2% | 2% | |||||||||
Senior Secured Revolving Credit Facility | SOFR | Maximum | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Applicable margin for Benchmark-based borrowings | 2.25% | 2.25% | |||||||||
Senior Secured Revolving Credit Facility | LIBOR | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, basis spread on variable rate | 2% | ||||||||||
Senior Secured Revolving Credit Facility | LIBOR | Minimum | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Applicable margin for Benchmark-based borrowings | 2% | ||||||||||
Senior Secured Revolving Credit Facility | LIBOR | Maximum | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Applicable margin for Benchmark-based borrowings | 2.25% | ||||||||||
5.00% Convertible Notes Due 2022 | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, maturity date | Jun. 15, 2022 | ||||||||||
Aggregate principal amount | $ 143,750,000 | ||||||||||
Debt instrument, interest rate | 5% | ||||||||||
Net proceeds from offering including exercise of overallotment option | $ 139,800,000 | ||||||||||
Repayment of aggregate outstanding principal amount plus outstanding accrued interest | $ 143,720,000 | ||||||||||
Debt instrument interest repayment commencement date | Dec. 15, 2017 | ||||||||||
Debt instrument interest payment terms | The interest rate on the notes was 5.00% per year, payable semiannually in arrears on June 15 and December 15 of each year, commencing on December 15, 2017. | ||||||||||
Debt instrument conversion multiples principal amount | $ 1,000 | ||||||||||
Debt instrument conversion rate | 118.2173 | ||||||||||
Debt instrument conversion price per share | $ / shares | $ 8.46 | ||||||||||
5.00% Convertible Notes Due 2022 | Common Stock | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Shares issued to noteholder | shares | 3,546 | ||||||||||
Aggregate value issued to a noteholder | $ 30,000 | ||||||||||
5.00% Convertible Notes Due 2022 | IPO | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Aggregate principal amount | $ 125,000,000 | ||||||||||
5.00% Convertible Notes Due 2022 | Overallotment Option | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Aggregate principal amount | $ 18,750,000 | ||||||||||
Unsecured Senior Notes Due 2025 | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, maturity date | Dec. 09, 2025 | ||||||||||
Debt instrument, covenant description | The Note Purchase Agreement contains customary terms and conditions for senior unsecured notes issued in a private placement, including, without limitation, affirmative and negative covenants such as information reporting, maintenance of the Company’s status as a business development company within the meaning of the Investment Company Act of 1940, as amended, and a regulated investment company under the Internal Revenue Code of 1986, as amended, minimum shareholders’ equity, minimum asset coverage ratio, and prohibitions on certain fundamental changes of the Company. The Note Purchase Agreement also contains customary events of default with customary cure and notice periods, including, without limitation, nonpayment, incorrect representation in any material respect, breach of covenant, cross-default under other indebtedness of the Company or certain significant subsidiaries, certain judgments and orders, and certain events of bankruptcy.Unsecured Convertible Senior Notes Due 2022 On June 13, 2017, the Company issued $143,750,000 in aggregate principal amount ($125,000,000 of the initial offering and $18,750,000 of the underwriters’ exercise of the overallotment option) of 5.00% Convertible Notes due 2022 under an indenture, dated as of June 13, 2017 (the “2022 Convertible Notes Indenture”). Net proceeds to the Company from the offering, including the exercise of the overallotment option, were approximately $139,800,000. The 2022 Convertible Notes matured on June 15, 2022, and the Company fully repaid the aggregate outstanding $143,720,000 principal amount (post noteholder conversion) plus outstanding accrued interest. The interest rate on the notes was 5.00% per year, payable semiannually in arrears on June 15 and December 15 of each year, commencing on December 15, 2017. Holders were able to convert their notes at their option prior to the close of business on the business day immediately preceding December 15, 2021, in integral multiples of $1,000 principal amount, only under certain circumstances. Upon noteholder conversion, the Company was able to pay or deliver, as the case may be, cash, shares of our common stock or a combination of cash and shares of our common stock, at our election at an initial conversion rate of 118.2173 shares of common stock per $1,000 principal amount of notes, which is equivalent to an initial conversion price of approximately $8.46 per share of the Company’s common stock. On or after December 23, 2021, the Company was able to redeem the 2022 Convertible Notes for cash, in whole or from time to time in part, at its option in accordance with their terms. During the year ended December 31, 2022, the Company issued 3,546 shares of common stock with an aggregate value of $30,000 to a noteholder who elected the conversion option in lieu of principal repayment pursuant to the redemption terms of the 2022 Convertible Notes Indenture. Prior to the adoption of ASU 2020-06, the Company determined that the embedded conversion options in the 2022 Convertible Notes were not required to be separately accounted for as a derivative under U.S. GAAP. In accounting for the 2022 Convertible Notes, at the time of issuance the Company estimated separate debt and equity components, and an original issue discount equal to the equity component was recorded in additional paid-in-capital in the accompanying Consolidated Statements of Assets and Liabilities. As of January 1, 2022, the Company adopted ASU 2020-06 using the modified retrospective basis. In accordance with this guidance, the Company has recombined the equity conversion component of our 2022 Convertible Notes outstanding, and before its maturity, had begun accounting for the 2022 Convertible Notes as a single liability measured at amortized cost. This resulted in a cumulative decrease to additional paid in capital of $4,337,631, offset by a decrease to accumulated loss of $3,888,233 as of January 1, 2022, and an increase to the carrying value of the 2022 Convertible Notes of $449,398. The 2022 Convertible Notes contained certain covenants, which included covenants that required the Company to reserve shares of common stock for the purpose of satisfying all obligations to issue the underlying securities upon conversion of the securities and to furnish to holders of the securities upon request, any information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act. | ||||||||||
Debt instrument interest payment terms | The Company issued $35,000,000 in aggregate principal amount of 2025 Private Placement Notes with a fixed interest rate of 5.82% with interest to be paid semi-annually on June 9 and December 9 of each year, beginning on December 9, 2022, and $57,000,000 in aggregate principal amount of 2025 Private Placement Notes bearing interest at a rate equal to SOFR plus 3.14% with interest to be paid quarterly on March 9, June 9, September 9, and December 9 of each year, beginning on September 9, 2022. | ||||||||||
Number of tranches | Tranche | 2 | ||||||||||
Percentage of increase in interest rate | 1% | ||||||||||
Unsecured Senior Notes Due 2025 | Prepayment on or Before June 9, 2023 | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument prepayment premium percentage | 2% | ||||||||||
Unsecured Senior Notes Due 2025 | Prepayment After June 9, 2023 but on or Before June 9, 2024 | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument prepayment premium percentage | 1% | ||||||||||
Unsecured Senior Notes Due 2025 | Prepayment After June 9, 2024 but on or Before June 9, 2025 | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument prepayment premium percentage | 0.50% | ||||||||||
Unsecured Senior Notes Due 2025 | Prepayment on or Before June 9, 2025 | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument prepayment premium percentage | 0% | ||||||||||
Unsecured Senior Notes Due 2025 | Tranche One | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument interest repayment commencement date | Dec. 09, 2022 | ||||||||||
Frequency of periodic payments | semi-annually | ||||||||||
Unsecured Senior Notes Due 2025 | Tranche Two | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Aggregate principal amount | $ 92,000,000 | ||||||||||
Debt instrument interest repayment commencement date | Sep. 09, 2022 | ||||||||||
Debt instrument interest payment terms | quarterly | ||||||||||
Unsecured Convertible Senior Notes Due2022 [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt instrument, covenant description | The 2022 Convertible Notes contained certain covenants, which included covenants that required the Company to reserve shares of common stock for the purpose of satisfying all obligations to issue the underlying securities upon conversion of the securities and to furnish to holders of the securities upon request, any information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act. | ||||||||||
2025 Private Placement Notes | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Aggregate principal amount | $ 92,000,000 | $ 92,000,000 | 92,000,000 | ||||||||
2025 Private Placement Notes | SOFR | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Aggregate principal amount | $ 57,000,000 | 57,000,000 | $ 57,000,000 | $ 57,000,000 | |||||||
Debt instrument, basis spread on variable rate | 3.14% | 3.14% | 3.14% | ||||||||
2025 Private Placement Notes | Fixed Interest Rate | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Aggregate principal amount | $ 35,000,000 | $ 35,000,000 | $ 35,000,000 | $ 35,000,000 | |||||||
Debt instrument, interest rate | 5.82% | 5.82% | 5.82% | 5.82% |
Debt - Schedule of Debt Outstan
Debt - Schedule of Debt Outstanding and Available (Details) - USD ($) | 6 Months Ended | 12 Months Ended | |
Jun. 09, 2022 | Jun. 30, 2023 | Dec. 31, 2022 | |
Line Of Credit Facility [Line Items] | |||
Debt Instrument, Carrying Value | $ 283,171,157 | $ 253,003,161 | |
Debt, net of unamortized issuance costs, Carrying Value | 283,171,157 | 253,003,161 | |
Debt, net of unamortized issuance costs, Available | 73,000,000 | 103,000,000 | |
Debt, net of unamortized issuance, Total Capacity | $ 356,171,157 | $ 356,003,161 | |
Credit Facility | |||
Line Of Credit Facility [Line Items] | |||
Maturity | 2025 | 2025 | |
Rate | S+2.25% | L+2.00% | |
Credit Facility, Carrying Value | $ 192,000,000 | $ 162,000,000 | |
Debt Instrument, Carrying Value | 192,000,000 | 162,000,000 | |
Credit Facility, Available | 73,000,000 | 103,000,000 | |
Credit Facility, Total Capacity | $ 265,000,000 | $ 265,000,000 | |
Credit Facility | LIBOR | |||
Line Of Credit Facility [Line Items] | |||
Rate | 2% | ||
Credit Facility | SOFR | |||
Line Of Credit Facility [Line Items] | |||
Rate | 2.25% | ||
2025 Private Placement Notes | |||
Line Of Credit Facility [Line Items] | |||
Maturity | 2025 | 2025 | |
Rate | Fixed/Variable | Fixed/Variable | |
Debt Instrument, Carrying Value | $ 91,171,157 | $ 91,003,161 | |
Debt Instrument, Available | 0 | 0 | |
Debt Instrument, Total Capacity | $ 91,171,157 | $ 91,003,161 | |
2025 Private Placement Notes | SOFR | |||
Line Of Credit Facility [Line Items] | |||
Rate | 3.14% | 3.14% | 3.14% |
Debt - Schedule of Debt Outst_2
Debt - Schedule of Debt Outstanding and Available (Parenthetical) (Details) - USD ($) | 6 Months Ended | 12 Months Ended | |
Jun. 09, 2022 | Jun. 30, 2023 | Dec. 31, 2022 | |
Line Of Credit Facility [Line Items] | |||
Carrying value | $ 283,171,157 | $ 253,003,161 | |
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | |||
Line Of Credit Facility [Line Items] | |||
Adjustment to credit spread percentage | 0.10% | ||
Credit Facility | |||
Line Of Credit Facility [Line Items] | |||
Carrying value | $ 192,000,000 | 162,000,000 | |
Credit facility, increase in borrowing capacity subject to satisfaction of certain conditions | $ 325,000,000 | $ 325,000,000 | |
Credit Facility | LIBOR | |||
Line Of Credit Facility [Line Items] | |||
Debt instrument, basis spread on variable rate | 2% | ||
Credit Facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | |||
Line Of Credit Facility [Line Items] | |||
Debt instrument, basis spread on variable rate | 2.25% | ||
Credit Facility | Minimum | |||
Line Of Credit Facility [Line Items] | |||
Applicable margin for ABR borrowings | 1% | 1% | |
Credit Facility | Minimum | LIBOR | |||
Line Of Credit Facility [Line Items] | |||
Applicable margin for Benchmark-based borrowings | 2% | ||
Credit Facility | Minimum | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | |||
Line Of Credit Facility [Line Items] | |||
Applicable margin for Benchmark-based borrowings | 2% | ||
Credit Facility | Maximum | |||
Line Of Credit Facility [Line Items] | |||
Applicable margin for ABR borrowings | 1.25% | 1.25% | |
Credit Facility | Maximum | LIBOR | |||
Line Of Credit Facility [Line Items] | |||
Applicable margin for Benchmark-based borrowings | 2.25% | ||
Credit Facility | Maximum | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | |||
Line Of Credit Facility [Line Items] | |||
Applicable margin for Benchmark-based borrowings | 2.25% | ||
2025 Private Placement Notes | |||
Line Of Credit Facility [Line Items] | |||
Unamortized issuance costs | $ (828,843) | $ (996,839) | |
Carrying value | 91,171,157 | 91,003,161 | |
Principal amount of debt | $ 92,000,000 | $ 92,000,000 | |
2025 Private Placement Notes | Fixed Interest Rate | |||
Line Of Credit Facility [Line Items] | |||
Debt instrument, interest rate | 5.82% | 5.82% | 5.82% |
Principal amount of debt | $ 35,000,000 | $ 35,000,000 | $ 35,000,000 |
2025 Private Placement Notes | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | |||
Line Of Credit Facility [Line Items] | |||
Debt instrument, basis spread on variable rate | 3.14% | 3.14% | 3.14% |
Principal amount of debt | $ 57,000,000 | $ 57,000,000 | $ 57,000,000 |
Debt - Schedule of Total Expens
Debt - Schedule of Total Expenses Related to Debt (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Debt Disclosure [Abstract] | ||||
Stated interest expense | $ 5,136,153 | $ 2,322,209 | $ 9,546,288 | $ 4,489,106 |
Amortization of deferred debt issuance costs | 249,058 | 325,665 | 445,104 | 668,747 |
Total interest expense | 5,385,211 | 2,647,874 | 9,991,392 | 5,157,853 |
Commitment and credit facility fees | 97,239 | 212,817 | 209,289 | 431,789 |
Total | $ 5,482,450 | $ 2,860,691 | $ 10,200,681 | $ 5,589,642 |
Debt - Summary of Carrying and
Debt - Summary of Carrying and Fair Values of Outstanding Debt (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Debt Instrument [Line Items] | ||
Principal amount of debt | $ 283,171,157 | $ 253,003,161 |
Fair Value | 266,414,530 | 235,684,810 |
Credit Facility | ||
Debt Instrument [Line Items] | ||
Principal amount of debt | 192,000,000 | 162,000,000 |
Fair Value | 175,680,000 | 146,610,000 |
2025 Private Placement Notes | ||
Debt Instrument [Line Items] | ||
Principal amount of debt | 91,171,157 | 91,003,161 |
Fair Value | $ 90,734,530 | $ 89,074,810 |
Investments - Additional Inform
Investments - Additional Information (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Schedule of Investments [Abstract] | ||||
Purchases of investments, including PIK | $ 20,797,118 | $ 73,481,309 | $ 58,411,431 | $ 117,494,185 |
Proceeds from sales, repayments and other exits of investments | $ 6,507,960 | $ 25,107,943 | $ 27,226,737 | $ 103,762,076 |
Investments - Schedule of Inves
Investments - Schedule of Investments (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Schedule Of Investments [Line Items] | ||
Investments, Cost | $ 690,597,257 | $ 658,300,164 |
Investments, Fair Value | 595,837,411 | 570,489,084 |
Senior Secured Notes | ||
Schedule Of Investments [Line Items] | ||
Investments, Cost | 988,074 | 1,920,592 |
Investments, Fair Value | 988,000 | 1,624,823 |
Unsecured Debt | ||
Schedule Of Investments [Line Items] | ||
Investments, Cost | 37,183,232 | 37,686,148 |
Investments, Fair Value | 14,999,000 | 15,228,000 |
Subordinated Debt | ||
Schedule Of Investments [Line Items] | ||
Investments, Cost | 5,000,000 | 5,000,000 |
Investments, Fair Value | 4,955,000 | 4,930,000 |
Senior Secured Loan, First Lien | ||
Schedule Of Investments [Line Items] | ||
Investments, Cost | 504,569,408 | 455,458,846 |
Investments, Fair Value | 497,077,006 | 447,490,518 |
Senior Secured Loan, Second/Other Priority Lien | ||
Schedule Of Investments [Line Items] | ||
Investments, Cost | 83,669,054 | 98,468,621 |
Investments, Fair Value | 73,886,473 | 90,992,663 |
Total Senior Secured Loans | ||
Schedule Of Investments [Line Items] | ||
Investments, Cost | 588,238,462 | 553,927,467 |
Investments, Fair Value | 570,963,479 | 538,483,181 |
Preferred Stock | ||
Schedule Of Investments [Line Items] | ||
Investments, Cost | 40,702,606 | 40,527,223 |
Investments, Fair Value | 2,400,116 | 2,354,224 |
Common Stock | ||
Schedule Of Investments [Line Items] | ||
Investments, Cost | 10,611,548 | 10,611,548 |
Investments, Fair Value | 0 | 0 |
Limited Partnership/Limited Liability Company Interests | ||
Schedule Of Investments [Line Items] | ||
Investments, Cost | 7,757,987 | 8,511,838 |
Investments, Fair Value | 49,500 | 5,991,648 |
Equity Warrants/Options | ||
Schedule Of Investments [Line Items] | ||
Investments, Cost | 115,348 | 115,348 |
Investments, Fair Value | $ 1,482,316 | $ 1,877,208 |
Investment - Schedule of Indust
Investment - Schedule of Industry Composition of Portfolio at Fair Value (Details) - Investments, at Fair Value - Industry Concentration Risk | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 100% | 100% |
Software | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 17.20% | 15.20% |
Diversified Financial Services | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 14.70% | 14.50% |
Internet Software & Services | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 11.60% | 11.10% |
Diversified Consumer Services | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 7.70% | 8.30% |
Professional Services | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 6.90% | 7.20% |
Health Care Technology | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 4.30% | 4.40% |
Health Care Providers & Services | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 3.60% | 3.70% |
Construction & Engineering | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 2.40% | 2.60% |
Road & Rail | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 2.50% | 2.60% |
Insurance | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 2.50% | 2.50% |
IT Services | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 3.40% | 2.50% |
Containers & Packaging | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 2.30% | 2.50% |
Paper & Forest Products | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 2.20% | 1.70% |
Specialty Retail | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 1.80% | 1.90% |
Hotels, Restaurants & Leisure | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 1.90% | 0.90% |
Technology Hardware, Storage & Peripherals | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 1.80% | 1.80% |
Textiles, Apparel & Luxury Goods | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 1.70% | 1.70% |
Consumer Finance | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 1.90% | 1.30% |
Media | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 1.10% | 1% |
Commercial Services & Supplies | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 1.10% | 1.10% |
Real Estate Management & Development | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 1.10% | 1.10% |
Trading Companies & Distributors | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 1% | 1% |
Internet & Catalog Retail | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 1% | 1% |
Machinery | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 1% | 0.90% |
Wireless Telecommunication Services | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 0.80% | 0.80% |
Household Durables | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 0% | 0.80% |
Leisure Products | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 0.40% | 0.50% |
Building Products | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 0.40% | 0.40% |
Automobiles | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 0.40% | 0.40% |
Semiconductors & Semiconductor Equipment | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 0.40% | 0.40% |
Life Sciences Tools & Services | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 0.40% | 0.40% |
Distributors | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 0.40% | 0.40% |
Capital Markets | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 0.10% | 0.20% |
Health Care Equipment & Supplies | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 0% | 2.50% |
Metals & Mining | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 0% | 0.60% |
Electrical Equipment | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 0% | 0.10% |
Chemicals | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 0% | 0% |
Oil, Gas & Consumable Fuels | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 0% | 0% |
Investment - Schedule of Geogra
Investment - Schedule of Geographic Composition of Portfolio at Fair Value (Details) - Investments, at Fair Value - Geographic Concentration Risk | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 100% | 100% |
United States | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 84.40% | 85.40% |
United Kingdom | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 7.30% | 7.20% |
Germany | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 3.60% | 3.70% |
Canada | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 1.10% | 1.10% |
Switzerland | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 1% | 1% |
Netherlands | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 1% | 0% |
Slovenia | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 0.90% | 0.90% |
Australia | ||
Schedule Of Investments [Line Items] | ||
Percentage of aggregate fair value of investments | 0.70% | 0.70% |
Other Related Party Transacti_2
Other Related Party Transactions - Additional Information (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Related Party Transaction [Line Items] | |||||
Investment advisor expenses | $ 17,094 | $ 25,819 | $ 34,187 | $ 51,638 | |
Common stock, shares issued | 84,481,797 | 84,481,797 | 84,481,797 | ||
Common stock, shares outstanding | 72,571,907 | 73,354,142 | 72,571,907 | 73,354,142 | 72,571,907 |
Investment Advisor Expenses | |||||
Related Party Transaction [Line Items] | |||||
Investment advisor expenses | $ 17,094 | $ 25,819 | $ 34,187 | $ 51,638 | |
BlackRock Capital Investment Advisors, LLC | |||||
Related Party Transaction [Line Items] | |||||
Common stock, shares outstanding | 0 | 0 | 0 | ||
Maximum | |||||
Related Party Transaction [Line Items] | |||||
Percentage of common stock shares outstanding | 1% | 1% | 1% | ||
Related Party | Reimbursement Expenses | |||||
Related Party Transaction [Line Items] | |||||
Operating Costs and Expenses | $ 101,450 | 72,211 | $ 356,469 | 161,895 | |
Related Party | BlackRock Financial Management, Inc. | |||||
Related Party Transaction [Line Items] | |||||
Selling, General and Administrative Expense | 288,454 | $ 299,262 | 581,088 | $ 664,769 | |
Prepaid Expenses and Other Current Assets | |||||
Related Party Transaction [Line Items] | |||||
Professional And Director Fees | $ 219,335 | $ 219,335 | $ 0 |
Stockholders' Equity and Divi_3
Stockholders' Equity and Dividends - Schedule of Declared Dividends to Common Stockholders (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||||||
Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | ||||
Class Of Stock [Line Items] | |||||||||
Amount Per Share | $ 0.2 | $ 0.2 | |||||||
Total Amount | $ 7,257,191 | $ 7,257,191 | [1] | $ 7,363,184 | [1] | $ 7,380,270 | [1] | $ 14,514,382 | $ 14,743,454 |
Reinvested dividends paid during quarter | $ 1,506,467 | $ 1,443,101 | |||||||
March 1, 2022 | |||||||||
Class Of Stock [Line Items] | |||||||||
Date declared | Mar. 01, 2022 | ||||||||
Record date | Mar. 17, 2022 | ||||||||
Payable date | Apr. 07, 2022 | ||||||||
Type | Regular | ||||||||
Amount Per Share | $ 0.1 | ||||||||
Total Amount | $ 7,380,270 | ||||||||
Reinvested dividends paid during quarter | $ 698,261 | ||||||||
April 27, 2022 | |||||||||
Class Of Stock [Line Items] | |||||||||
Date declared | Apr. 27, 2022 | ||||||||
Record date | Jun. 16, 2022 | ||||||||
Payable date | Jul. 07, 2022 | ||||||||
Type | Regular | ||||||||
Amount Per Share | $ 0.1 | ||||||||
Total Amount | $ 7,363,184 | ||||||||
Reinvested dividends paid during quarter | $ 744,840 | ||||||||
February 28, 2023 | |||||||||
Class Of Stock [Line Items] | |||||||||
Date declared | Feb. 28, 2023 | ||||||||
Record date | Mar. 16, 2023 | ||||||||
Payable date | Apr. 06, 2023 | ||||||||
Type | Regular | ||||||||
Amount Per Share | $ 0.1 | ||||||||
Total Amount | $ 7,257,191 | ||||||||
Reinvested dividends paid during quarter | $ 768,930 | ||||||||
April 26, 2023 | |||||||||
Class Of Stock [Line Items] | |||||||||
Date declared | Apr. 26, 2023 | ||||||||
Record date | Jun. 15, 2023 | ||||||||
Payable date | Jul. 06, 2023 | ||||||||
Type | Regular | ||||||||
Amount Per Share | $ 0.1 | ||||||||
Total Amount | $ 7,257,191 | ||||||||
Reinvested dividends paid during quarter | $ 737,537 | ||||||||
[1] Sources of dividends to stockholders will be adjusted on an annual basis, if necessary, and calculated in accordance with federal income tax regulations (see Note 2). For both the three month periods ended June 30, 2023 and March 31, 2023, it is estimated that there was no return of capital based on book income. |
Stockholders' Equity and Divi_4
Stockholders' Equity and Dividends - Additional Information (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||||
Mar. 06, 2018 | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Oct. 28, 2022 | |
Class Of Stock [Line Items] | |||||||
Percentage of closing market price on dividend payment date | 95% | ||||||
Remaining number of shares authorized to be repurchased | 8,000,000 | 8,000,000 | |||||
Treasury Stock, Common, Shares | 11,909,890 | 11,909,890 | 11,909,890 | ||||
Treasury stock, value | $ 73,373,702 | $ 73,373,702 | $ 73,373,702 | ||||
Shares repurchased | 0 | 420,083 | 0 | 526,391 | |||
Board of Directors | Maximum | |||||||
Class Of Stock [Line Items] | |||||||
Number of shares authorized to be repurchased | 8,000,000 |
Stockholders' Equity and Divi_5
Stockholders' Equity and Dividends - Schedule of Total Shares Repurchased And Amounts Paid By The Company Under The Company Repurchase Plan, Including Broker Fees (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Equity [Abstract] | ||||
Shares repurchased | 0 | 420,083 | 0 | 526,391 |
Price Per Share | $ 3.78 | $ 3.85 | ||
Total Cost | $ 1,586,451 | $ 2,026,688 |
Earnings (Loss) Per Share - Sch
Earnings (Loss) Per Share - Schedule of Computation Basic and Diluted Net Increase (Decrease) in Net Assets from Operations Per Share (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | ||
Earnings Per Share [Abstract] | |||||
Net Income (Loss) | $ 1,503,691 | $ (2,540,160) | $ 10,021,088 | $ 2,982,214 | |
Weighted average shares outstanding - basic | 72,571,907 | 73,667,822 | 72,571,907 | 73,744,580 | |
Earnings (loss) per share - basic | [1] | $ 0.02 | $ (0.03) | $ 0.14 | $ 0.04 |
Earnings (loss) per share - diluted | [1],[2] | $ 0.02 | $ (0.03) | $ 0.14 | $ 0.04 |
[1] Net investment income and per share amounts displayed above are net of the reversal for incentive fees on capital gains which is reflected on a hypothetical liquidation basis in accordance with GAAP for the three and six month periods ended June 30, 2022 (see Note 3). For the three and six month periods ended June 30, 2022, the impact of the hypothetical conversion of the 2022 Convertible Notes was antidilutive (see Note 8). |
Commitment and Contingencies -
Commitment and Contingencies - Additional Information (Details) | Jun. 30, 2023 USD ($) Investment | Dec. 31, 2022 USD ($) Investment |
Commitments and Contingencies Disclosure [Abstract] | ||
Guarantees outstanding | $ 0 | $ 0 |
Unfunded commitments | 47,200,000 | 72,100,000 |
Fair value of unfunded commitments | $ 46,600,000 | $ 70,000,000 |
Number of unfunded commitments portfolio companies | Investment | 49 | 51 |
Financial Highlights - Schedule
Financial Highlights - Schedule of Financial Highlights (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||||||
Jun. 30, 2023 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Mar. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Investment Company Financial Highlights [Line Items] | |||||||||
Net Asset Value Per Share, Beginning Balance | $ 4.41 | $ 4.7 | $ 4.73 | $ 4.39 | $ 4.73 | ||||
Investment Operations: | |||||||||
Net investment income, before incentive fees | 0.3 | 0.16 | |||||||
Incentive fees | (0.05) | 0.02 | |||||||
Net investment income | 0.25 | 0.18 | |||||||
Net realized and unrealized gain (loss) | (0.11) | (0.14) | |||||||
Total from investment operations | 0.14 | 0.04 | |||||||
Repurchase of common stock | 0 | 0.01 | |||||||
Dividends to stockholders | (0.2) | (0.2) | |||||||
Net Asset Value Per Share, Ending Balance | 4.33 | 4.57 | $ 4.7 | 4.33 | 4.57 | ||||
Market price at end of period | $ 3.28 | $ 3.67 | $ 3.28 | $ 3.67 | |||||
Total return based on market price | (4.14%) | (3.67%) | |||||||
Total return based on net asset value | 4.35% | 1.44% | |||||||
Common stock, shares outstanding | 72,571,907 | 73,354,142 | 72,571,907 | 73,354,142 | 72,571,907 | ||||
Ratios to average net assets: | |||||||||
Operating expenses, before incentive fees | 4.40% | 3.92% | |||||||
Interest and other debt related expenses | 6.44% | 3.26% | |||||||
Total expenses, before incentive fees | 10.84% | 7.18% | |||||||
Incentive fees | 1.18% | 0.42% | |||||||
Total expenses, after incentive fees | 12.02% | 6.76% | |||||||
Net investment income | 12.42% | 7.53% | |||||||
Net assets at end of period | $ 314,029,059 | $ 335,444,647 | $ 346,904,442 | $ 314,029,059 | $ 335,444,647 | $ 319,782,559 | $ 318,522,353 | $ 349,651,973 | |
Portfolio turnover rate | 5% | 19% | |||||||
Weighted average interest rate on debt | 7.45% | 4.94% | 7.45% | 4.94% | |||||
Weighted average debt outstanding | $ 270,570,675 | $ 210,643,606 | |||||||
Weighted average shares outstanding | 72,571,907 | 73,667,822 | 72,571,907 | 73,744,580 | |||||
Weighted average debt per share | $ 3.73 | $ 2.86 | |||||||
Cumulative Effect of Adjustment | |||||||||
Investment Operations: | |||||||||
Accounting Standards Update [Extensible Enumeration] | ASU 2020-06 | ASU 2020-06 | |||||||
Net Asset Value Per Share, Ending Balance | $ 0 | $ (0.01) | $ 0 | $ (0.01) | |||||
Ratios to average net assets: | |||||||||
Net assets at end of period | [1] | $ (449,398) | |||||||
[1] See Note 4 for further information related to the adoption of ASU 2020-06. |
Financial Highlights - Schedu_2
Financial Highlights - Schedule of Financial Highlights (Parenthetical) (Details) - USD ($) $ / shares in Units, $ in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Investment Company [Abstract] | ||
Incentive fees based on income per share | $ 0.05 | |
Incentive fees based on income, percentage | 1.18% | |
Incentive fees on capital gains per share | $ (0.02) | |
Incentive fees on capital gains, percentage | (0.45%) | |
Declared dividends from net investment income | $ 14.5 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Details) - $ / shares | 6 Months Ended | ||
Aug. 01, 2023 | Jun. 30, 2023 | Jun. 30, 2022 | |
Subsequent Event [Line Items] | |||
Dividend declared per share | $ 0.2 | $ 0.2 | |
Subsequent Events | |||
Subsequent Event [Line Items] | |||
Date declared | Aug. 01, 2023 | ||
Dividend declared per share | $ 0.1 | ||
Payable date | Oct. 06, 2023 | ||
Record date | Sep. 15, 2023 |