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Investment Portfolio (Tables)
 12 Months Ended
Dec. 31, 2024
Investment Company [Abstract]  
Summary of Investments
The following table summarizes the composition of the Company’s investment portfolio at cost and fair value as of December 31, 2024 and 2023:
December 31, 2024December 31, 2023
 
Amortized
Cost(1)
Fair ValuePercentage
of Portfolio
Amortized
Cost(1)
Fair ValuePercentage
of Portfolio
Senior Secured Loans—First Lien$7,995 $7,795 57.8 %$8,890 $8,529 58.2 %
Senior Secured Loans—Second Lien690 693 5.1 %1,158 1,090 7.5 %
Other Senior Secured Debt130 123 0.9 %106 99 0.7 %
Subordinated Debt214 233 1.7 %308 323 2.2 %
Asset Based Finance2,232 2,102 15.6 %2,237 2,077 14.2 %
Credit Opportunities Partners JV, LLC1,572 1,363 10.1 %1,572 1,397 9.5 %
Equity/Other1,211 1,181 8.8 %1,149 1,134 7.7 %
Total$14,044 $13,490 100.0 %$15,420 $14,649 100.0 %
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(1)Amortized cost represents the original cost adjusted for the amortization of premiums and/or accretion of discounts, as applicable, on investments.
The table below describes investments by industry classification and enumerates the percentage, by fair value, of the total portfolio assets in such industries as of December 31, 2024 and 2023:
December 31, 2024December 31, 2023
Industry ClassificationFair
Value		Percentage  of
Portfolio		Fair
Value		Percentage  of
Portfolio
Automobiles & Components$4 0.0 %$4 0.0 %
Banks5 0.0 %8 0.1 %
Capital Goods1,712 12.7 %1,970 13.5 %
Commercial & Professional Services1,733 12.8 %1,826 12.5 %
Consumer Discretionary Distribution & Retail174 1.3 %259 1.8 %
Consumer Durables & Apparel229 1.7 %185 1.3 %
Consumer Services244 1.8 %240 1.6 %
Consumer Staples Distribution & Retail102 0.8 %105 0.7 %
Credit Opportunities Partners JV, LLC1,363 10.1 %1,397 9.5 %
Energy89 0.7 %162 1.1 %
Equity Real Estate Investment Trusts (REITs)278 2.1 %293 2.0 %
Financial Services998 7.4 %986 6.7 %
Food, Beverage & Tobacco113 0.8 %181 1.2 %
Health Care Equipment & Services1,667 12.4 %1,709 11.7 %
Household & Personal Products134 1.0 %166 1.1 %
Insurance735 5.4 %839 5.7 %
Materials334 2.5 %228 1.6 %
Media & Entertainment699 5.2 %717 4.9 %
Pharmaceuticals, Biotechnology & Life Sciences298 2.2 %286 2.0 %
Real Estate Management & Development27 0.2 %79 0.5 %
Software & Services2,187 16.2 %2,472 16.9 %
Technology Hardware & Equipment2 0.0 %4 0.0 %
Telecommunication Services69 0.5 %79 0.5 %
Transportation294 2.2 %454 3.1 %
Total $13,490 100.0 %$14,649 100.0 %
Summary of Nonconsolidated Subsidiary Portfolio
Below is selected balance sheet information for COPJV as of December 31, 2024 and 2023:
As of
December 31, 2024December 31, 2023
Selected Balance Sheet Information
Total investments, at fair value$3,295.5 $3,470.8 
Cash and other assets363.8 272.2 
Total assets3,659.3 3,743.0 
Debt1,828.6 1,840.1 
Other liabilities272.6 306.5 
Total liabilities2,101.2 2,146.6 
Member’s equity
$1,558.1 $1,596.4 
Below is selected statement of operations information for COPJV for the years ended December 31, 2024 and 2023:
For the Year Ended
December 31, 2024December 31, 2023
Selected Statement of Operation Information
Total investment income$349.2 $380.8 
Expenses
Interest expense120.9 123.5 
Custodian and accounting fees1.6 1.6 
Administrative services9.3 9.3 
Professional services0.6 0.6 
Other1.0 1.1 
Total expenses133.4 136.1 
Net investment income215.8 244.7 
Net realized and unrealized losses(22.1)(30.6)
Net increase in net assets resulting from operations$193.7 $214.1