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Commitment and Contingencies
 6 Months Ended
Jun. 30, 2023
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 June 30, 2023, the Company’s unfunded commitments consisted of the following:
Category / Company(1)
Commitment Amount
Senior Secured Loans—First Lien
3Pillar Global Inc$7.3 
3Pillar Global Inc24.0 
48Forty Solutions LLC8.5 
Advanced Dermatology & Cosmetic Surgery3.6 
Affordable Care Inc12.8 
Affordable Care Inc22.7 
Alacrity Solutions Group LLC4.9 
American Vision Partners4.7 
Amerivet Partners Management Inc8.4 
Amerivet Partners Management Inc40.7 
Arcfield Acquisition Corp7.1 
Arcos LLC/VA4.5 
Ardonagh Group Ltd9.9 
AxiomSL Ltd2.5 
AxiomSL Ltd2.3 
Bausch Health Cos Inc120.0 
BGB Group LLC19.9 
Careismatic Brands Inc15.0 
CFC Underwriting Ltd5.7 
Circana Group (f.k.a. NPD Group)0.9 
Clarience Technologies LLC25.3 
Community Brands Inc3.8 
Community Brands Inc1.9 
Covis Finco Sarl3.0 
Covis Finco Sarl1.2 
CSafe Global31.4 
DOC Generici Srl2.3 
Envirotainer Ltd2.7 
Excelitas Technologies Corp1.1 
Excelitas Technologies Corp3.1 
Follett Software Co9.9 
Foundation Consumer Brands LLC6.6 
Foundation Risk Partners Corp6.9 
Galway Partners Holdings LLC11.8 
Galway Partners Holdings LLC1.3 
Gigamon Inc9.3 
Category / Company(1)
Commitment Amount
Heniff Transportation Systems LLC$11.6 
HKA0.1 
HM Dunn Co Inc1.0 
Individual FoodService4.2 
iNova Pharmaceuticals (Australia) Pty Limited2.2 
Insight Global LLC21.1 
Insight Global LLC26.8 
International Flavors & Fragrances Inc4.9 
J S Held LLC17.4 
J S Held LLC6.8 
Karman Space Inc0.3 
Laboratoires Vivacy SAS0.7 
Lakefield Veterinary Group32.8 
Lakeview Farms Inc2.8 
Lazer Logistics Inc1.9 
Lazer Logistics Inc2.4 
Lexitas Inc6.1 
Lipari Foods LLC15.0 
Lloyd's Register Quality Assurance Ltd5.7 
Magna Legal Services LLC2.2 
Magna Legal Services LLC0.6 
Med-Metrix14.2 
Med-Metrix7.8 
Motion Recruitment Partners LLC59.6 
Net Documents2.3 
New Era Technology Inc4.6 
Novotech Pty Ltd5.6 
Oxford Global Resources LLC8.0 
Oxford Global Resources LLC5.7 
PartsSource Inc2.7 
PartsSource Inc22.7 
Radwell International LLC/PA5.5 
Revere Superior Holdings Inc3.2 
Rise Baking Company5.2 
RSC Insurance Brokerage Inc7.6 
SAMBA Safety Inc1.2 
SavATree LLC3.4 
SavATree LLC6.3 
Source Code LLC0.9 
Spins LLC16.5 
Spins LLC7.9 
Spotless Brands LLC18.4 
Summit Interconnect Inc9.4 
Sweeping Corp of America Inc1.5 
Time Manufacturing Co14.7 
Trescal SA5.0 
Version1 Software Ltd1.1 
VetCor Professional Practices LLC6.6 
Wealth Enhancement Group LLC1.8 
Wealth Enhancement Group LLC2.1 
Category / Company(1)
Commitment Amount
Woolpert Inc$3.7 
Worldwise Inc15.5 
Worldwise Inc14.2 
Worldwise Inc12.5 
Zendesk Inc6.0 
Zendesk Inc14.4 
Senior Secured Loans—Second Lien
Valeo Foods Group Ltd3.0 
Subordinated Debt
Asset Based Finance
Altitude II IRL WH Borrower DAC, Revolver4.9 
Callodine Commercial Finance LLC, 2L Term Loan B36.1 
Jet Edge International LLC, Term Loan0.7 
Total$976.1 
Unfunded Asset Based Finance/Other commitments$623.7 
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(1)May be commitments to one or more entities affiliated with the named company.
As of June 30, 2023, the Company’s debt commitments are comprised of $523.3 revolving credit facilities and $452.8 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 $(16.6). 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 June 30, 2023, $17 of such letters of credit have been issued.
As of June 30, 2023, 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 June 30, 2023 and December 31, 2022.