Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2024

Summary of the Fees and Expenses Accrued

The following table describes the fees and expenses accrued under the investment advisory agreement and the administration agreement, as applicable, during the years ended December 31, 2024, 2023 and 2022:


			Year Ended December 31,
Related Party	Source Agreement	Description	2024		2023		2022
The Adviser	Investment advisory agreement	Base Management Fee(1)	$	216	$	226	$	245

The Adviser	Investment advisory agreement	Subordinated Incentive Fee on Income(2)	$	167	$	181	$	99
The Adviser	Administration agreement	Administrative Services Expenses(3)	$	10	$	12	$	15

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(1)During the years ended December 31, 2024, 2023 and 2022, $219, $229, and $246, respectively, in base management fees were paid to the Adviser. As of December 31, 2024, $53 in base management fees were payable to the Adviser.

(2)The Adviser agreed, effective July 1, 2021, to waive up to $15 per quarter of the subordinated incentive fee on income to which it is entitled to under the investment advisory agreement for the first full six quarters following the closing of the 2021 Merger. During the year ended December 31, 2022, the amount shown is net of waivers of $60. The fee waiver expired on December 31, 2022. During the years ended December 31, 2024, 2023 and 2022, $173, $167 and $91, respectively, of subordinated incentive fees on income were paid to the Adviser. As of December 31, 2024, $35 in subordinated incentive fees on income were payable to the Adviser.

(3)During the years ended December 31, 2024, 2023 and 2022, $9, $11 and $13, respectively, of administrative services expenses related to the allocation of costs of administrative personnel for services rendered to the Company by the Adviser and the remainder related to other reimbursable expenses, including reimbursement of fees related to transactional expenses for prospective investments, such as fees and expenses associated with performing due diligence reviews of investments that do not close, often referred to as “broken deal” costs. Broken deal costs were $0.9 for the year ended December 31, 2024. The Company paid $12, $13 and $14, respectively, in administrative services expenses to the Adviser during the years ended December 31, 2024, 2023 and 2022.