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Commitment and Contingencies
 9 Months Ended
Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
The Company enters into contracts that contain a variety of indemnification provisions. The Company’s maximum exposure under these arrangements is unknown; however, the Company has not had prior claims or losses pursuant to these contracts. The Advisor has reviewed the Company’s existing contracts and expects the risk of loss to the Company to be remote.
The Company is not currently subject to any material legal proceedings and, to the Company’s knowledge, no material legal proceedings are threatened against the Company. From time to time, the Company may be a party to certain legal proceedings in the ordinary course of business, including proceedings relating to the enforcement of the Company’s rights under contracts with its portfolio companies. While the outcome of these legal proceedings cannot be predicted with certainty, the Company does not expect that any such proceedings will have a material effect upon its financial condition or results of operations.
Unfunded commitments to provide funds to portfolio companies are not recorded in the Company’s consolidated balance sheets. Since these commitments may expire without being drawn upon, the total commitment amount does not necessarily represent future cash requirements. The Company has sufficient liquidity to fund these commitments. As of September 30, 2022, the Company’s unfunded commitments consisted of the following:
Category / Company(1)
Commitment Amount
Senior Secured Loans—First Lien
3Pillar Global Inc$9.2 
3Pillar Global Inc24.9 
48Forty Solutions LLC3.2 
Advanced Dermatology & Cosmetic Surgery3.6 
Advanced Dermatology & Cosmetic Surgery2.2 
Affordable Care Inc12.8 
Affordable Care Inc33.2 
Alacrity Solutions Group LLC7.7 
Alera Group Intermediate Holdings Inc5.6 
American Vision Partners7.8 
Amerivet Partners Management Inc7.6 
Amerivet Partners Management Inc61.4 
Arcfield Acquisition Corp7.1 
Arcos LLC/VA4.5 
Ardonagh Group Ltd22.8 
AxiomSL Ltd2.4 
AxiomSL Ltd2.3 
Barbri Inc9.1 
BGB Group LLC19.9 
CFC Underwriting Ltd5.7 
Clarience Technologies LLC23.6 
Community Brands Inc3.8 
Community Brands Inc1.9 
Corsearch Intermediate Inc4.4 
CSafe Global34.9 
Dental Care Alliance Inc6.1 
Encora Digital Inc19.4 
Envirotainer Ltd2.7 
Excelitas Technologies Corp1.4 
Excelitas Technologies Corp4.7 
Follett Software Co9.9 
Foundation Consumer Brands LLC6.6 
Foundation Risk Partners Corp6.6 
Galway Partners Holdings LLC11.8 
Galway Partners Holdings LLC7.1 
Gigamon Inc9.3 
Category / Company(1)
Commitment Amount
Heniff Transportation Systems LLC$11.3 
Higginbotham Insurance Agency Inc8.9 
HKA1.1 
HM Dunn Co Inc2.0 
Individual FoodService4.7 
Individual FoodService1.8 
Insight Global LLC21.1 
Insight Global LLC26.8 
J S Held LLC12.4 
J S Held LLC21.0 
Karman Space Inc0.3 
Lakefield Veterinary Group40.0 
Lakeview Farms Inc10.8 
Lakeview Farms Inc1.8 
Lexitas Inc8.4 
Lexitas Inc5.9 
Lrqa Ltd12.6 
Med-Metrix25.0 
Med-Metrix7.8 
Monitronics International Inc11.6 
Motion Recruitment Partners LLC59.6 
Net Documents7.3 
Net Documents0.9 
New Era Technology Inc2.6 
Novotech Pty Ltd5.6 
NPD Group Inc/The1.0 
Oxford Global Resources LLC15.3 
Oxford Global Resources LLC4.4 
P2 Energy Solutions Inc.11.4 
PartsSource Inc4.2 
PartsSource Inc22.6 
Revere Superior Holdings Inc1.7 
Rise Baking Company1.6 
RSC Insurance Brokerage Inc7.6 
SAMBA Safety Inc1.8 
SavATree LLC6.3 
SavATree LLC6.3 
Source Code LLC15.0 
Spins LLC16.5 
Spins LLC7.9 
Summit Interconnect Inc9.4 
Sungard Availability Services Capital Inc1.7 
Sweeping Corp of America Inc5.7 
Time Manufacturing Co16.4 
Version1 Software Ltd2.4 
VetCor Professional Practices LLC18.0 
VetCor Professional Practices LLC6.6 
Wealth Enhancement Group LLC5.7 
Wealth Enhancement Group LLC2.1 
Woolpert Inc3.7 
Category / Company(1)
Commitment Amount
Worldwise Inc$15.5 
Worldwise Inc7.4 
Senior Secured Loans—Second Lien
Valeo Foods Group Ltd3.1 
Asset Based Finance
Byrider Finance LLC, Structured Mezzanine12.4 
Callodine Commercial Finance LLC, 2L Term Loan B36.1 
Jet Edge International LLC, Term Loan0.7 
Opendoor Labs Inc, Structured Mezzanine53.4 
Total$1,042.4 
Unfunded Asset Based Finance/Other commitments$362.8 
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(1)May be commitments to one or more entities affiliated with the named company.
As of September 30, 2022, the Company’s debt commitments are comprised of $402.0 revolving credit facilities and $640.4 delayed draw term loans, which generally are used for acquisitions or capital expenditures and are subject to certain performance tests. Such unfunded debt commitments have a fair value representing unrealized appreciation (depreciation) of $(18.2). The Company’s unfunded Asset Based Finance/Other commitments generally require certain conditions to be met or actual approval from the Advisor prior to funding.
The Senior Secured Revolving Credit Facility provides for the issuance of letters of credit in an initial aggregate face amount of up to $175, subject to increase or reduction from time to time pursuant to the terms of the Senior Secured Revolving Credit Facility. As of September 30, 2022, $12 of such letters of credit have been issued.
As of September 30, 2022, the Company also has an unfunded commitment to provide $560.2 of capital to COPJV. The capital commitment can be satisfied with contributions of cash and/or investments. The capital commitments cannot be drawn without an affirmative vote by both the Company’s and SCRS’s representatives on COPJV’s board of managers.
While the Company does not expect to fund all of its unfunded commitments, there can be no assurance that it will not be required to do so.
In the normal course of business, the Company may enter into guarantees on behalf of portfolio companies. Under such arrangements, the Company would be required to make payments to third parties if the portfolio companies were to default on their related payment obligations. The Company has no such guarantees outstanding at September 30, 2022 and December 31, 2021.