10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q 

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2023

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from __________ to __________

Commission File Number 000-54755 

CĪON Investment Corporation

(Exact name of registrant as specified in its charter)

Maryland	45-3058280
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
100 Park Avenue, 25th Floor New York, New York	10017
(Address of principal executive offices)	(Zip Code)

(212) 418-4700

(Registrant’s telephone number, including area code)

Not applicable

(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading symbol(s)	Name of each exchange on which registered
Common stock, par value $0.001 per share	CION	The New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.                                                      

Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☐	Accelerated filer	☒
Non-accelerated filer	☐	Smaller reporting company	☐
		Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  

Yes ☐ No ☒

The number of shares of the registrant’s common stock, $0.001 par value, outstanding as of August 2, 2023 was 54,575,136.

CĪON INVESTMENT CORPORATION

FORM 10-Q

TABLE OF CONTENTS

	Page
PART I - FINANCIAL INFORMATION
Item 1. Financial Statements	1
Consolidated Balance Sheets	1
Consolidated Statements of Operations	2
Consolidated Statements of Changes in Net Assets	3
Consolidated Statements of Cash Flows	4
Consolidated Schedules of Investments	5
Notes to Consolidated Financial Statements	28
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations	65
Item 3. Quantitative and Qualitative Disclosures About Market Risk	81
Item 4. Controls and Procedures	82
PART II – OTHER INFORMATION
Item 1. Legal Proceedings	83
Item 1A. Risk Factors	83
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds	84
Item 3. Defaults Upon Senior Securities	84
Item 4. Mine Safety Disclosures	84
Item 5. Other Information	84
Item 6. Exhibits	85
Signatures	87

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements

CĪON Investment Corporation

Consolidated Balance Sheets

(in thousands, except share and per share amounts)

	June 30, 2023		December 31, 2022
	(unaudited)
Assets
Investments, at fair value:
Non-controlled, non-affiliated investments (amortized cost of $1,583,865 and $1,580,844, respectively)	$	1,510,372	$	1,525,040
Non-controlled, affiliated investments (amortized cost of $204,248 and $140,344, respectively)	198,084		143,876
Controlled investments (amortized cost of $76,900 and $82,421, respectively)	80,006		91,114
Total investments, at fair value (amortized cost of $1,865,013 and $1,803,609, respectively)	1,788,462		1,760,030
Cash	11,515		82,739
Interest receivable on investments	33,200		26,526
Receivable due on investments sold and repaid	997		1,016
Dividends receivable on controlled investments	—		1,275
Prepaid expenses and other assets	608		825
Total assets	$	1,834,782	$	1,872,411

Liabilities and Shareholders' Equity
Liabilities
Financing arrangements (net of unamortized debt issuance costs of $8,976 and $6,178, respectively)	$	976,737	$	951,322
Accounts payable and accrued expenses	1,344		1,012
Interest payable	8,183		7,820
Accrued management fees	6,546		6,924
Accrued subordinated incentive fee on income	4,967		5,065
Accrued administrative services expense	574		1,703
Shareholder distribution payable	67		14,931
Total liabilities	998,418		988,777
Commitments and contingencies (Note 4 and Note 11)
Shareholders' Equity
Common stock, $0.001 par value; 500,000,000 shares authorized; 54,645,571
and 55,299,484 shares issued and 54,632,827 and 55,299,484 shares outstanding, respectively	55		55
Capital in excess of par value	1,037,729		1,044,547
Accumulated distributable losses	(201,420)		(160,968)
Total shareholders' equity	836,364		883,634
Total liabilities and shareholders' equity	$	1,834,782	$	1,872,411
Net asset value per share of common stock at end of period	$	15.31	$	15.98

See accompanying notes to consolidated financial statements.

1

CĪON Investment Corporation

Consolidated Statements of Operations

(in thousands, except share and per share amounts)

	Three Months Ended June 30,				Six Months Ended June 30,				Year Ended December 31,
	2023		2022		2023		2022		2022
	(unaudited)		(unaudited)		(unaudited)		(unaudited)
Investment income
Non-controlled, non-affiliated investments
Interest income	$	47,117	$	31,749	$	89,885	$	62,743	$	140,560
Paid-in-kind interest income	4,297		4,613		9,128		9,219		22,737
Fee income	1,154		2,554		2,297		3,503		9,019
Dividend income	—		—		—		46		103
Non-controlled, affiliated investments
Interest income	1,734		1,545		4,208		2,568		5,865
Dividend income	52		53		3,933		53		79
Paid-in-kind interest income	1,751		874		3,482		2,319		6,204
Fee income	477		13		2,397		506		525
Controlled investments
Dividend income	—		—		4,250		—		1,275
Interest income	1,914		1,742		3,891		3,869		6,049
Paid-in-kind interest income	—		409		—		409		2,482
Total investment income	58,496		43,552		123,471		85,235		194,898
Operating expenses
Management fees	6,546		6,839		13,222		13,494		27,361
Administrative services expense	910		781		1,747		1,501		3,348
Subordinated incentive fee on income	4,965		4,091		11,300		8,224		18,710
General and administrative	2,074		1,712		4,029		3,934		7,278
Interest expense	20,467		10,841		39,776		19,300		49,624
Total operating expenses	34,962		24,264		70,074		46,453		106,321
Net investment income before taxes	23,534		19,288		53,397		38,782		88,577
Income tax expense, including excise tax	118		—		123		11		372
Net investment income after taxes	23,416		19,288		53,274		38,771		88,205
Realized and unrealized (losses) gains
Net realized (losses) gains on:
Non-controlled, non-affiliated investments	(18,928)		180		(23,453)		208		(11,217)
Non-controlled, affiliated investments	—		—		—		(97)		(21,530)
Foreign currency	—		—		—		—		(3)
Net realized (losses) gains	(18,928)		180		(23,453)		111		(32,750)
Net change in unrealized appreciation (depreciation) on:
Non-controlled, non-affiliated investments	23,396		(17,482)		(17,690)		(24,977)		(19,807)
Non-controlled, affiliated investments	595		(1,577)		(9,695)		(5,357)		13,523
Controlled investments	(585)		(1,675)		(5,587)		(1,925)		970
Net change in unrealized appreciation (depreciation)	23,406		(20,734)		(32,972)		(32,259)		(5,314)
Net realized and unrealized gains (losses)	4,478		(20,554)		(56,425)		(32,148)		(38,064)
Net increase (decrease) in net assets resulting from operations	$	27,894	$	(1,266)	$	(3,151)	$	6,623	$	50,141
Per share information—basic and diluted
Net increase (decrease) in net assets per share resulting from operations	$	0.51	$	(0.02)	$	(0.06)	$	0.12	$	0.89
Net investment income per share	$	0.43	$	0.34	$	0.97	$	0.68	$	1.56
Weighted average shares of common stock outstanding	54,788,740		56,958,440		54,948,225		56,958,440		56,556,510

See accompanying notes to consolidated financial statements.

2

CĪON Investment Corporation

Consolidated Statements of Changes in Net Assets

(in thousands, except share and per share amounts)

	Three Months Ended June 30,				Six Months Ended June 30,				Year Ended December 31,
	2023		2022		2023		2022		2022
	(unaudited)		(unaudited)		(unaudited)		(unaudited)
Changes in net assets from operations:
Net investment income	$	23,416	$	19,288	$	53,274	$	38,771	$	88,205
Net realized (loss) gain on investments	(18,928)		180		(23,453)		111		(32,747)
Net realized loss on foreign currency	—		—		—		—		(3)
Net change in unrealized appreciation (depreciation) on investments	23,406		(20,734)		(32,972)		(32,259)		(5,314)
Net increase (decrease) in net assets resulting from operations	27,894		(1,266)		(3,151)		6,623		50,141
Changes in net assets from shareholders' distributions:
Distributions to shareholders	(18,614)		(15,949)		(37,301)		(31,897)		(81,575)
Net decrease in net assets resulting from shareholders' distributions	(18,614)		(15,949)		(37,301)		(31,897)		(81,575)
Changes in net assets from capital share transactions:
Repurchase of common stock	(3,226)		—		(6,818)		—		(15,444)
Net decrease in net assets resulting from capital share transactions	(3,226)		—		(6,818)		—		(15,444)
Total increase (decrease) in net assets	6,054		(17,215)		(47,270)		(25,274)		(46,878)
Net assets at beginning of period	830,310		922,453		883,634		930,512		930,512
Net assets at end of period	$	836,364	$	905,238	$	836,364	$	905,238	$	883,634
Net asset value per share of common stock at end of period	$	15.31	$	15.89	$	15.31	$	15.89	$	15.98
Shares of common stock outstanding at end of period	54,632,827		56,958,440		54,632,827		56,958,440		55,299,484

See accompanying notes to consolidated financial statements.

3

CĪON Investment Corporation

Consolidated Statements of Cash Flows

(in thousands)

	Three Months Ended June 30,				Six Months Ended June 30,				Year Ended December 31,
	2023		2022		2023		2022		2022
	(unaudited)		(unaudited)		(unaudited)		(unaudited)
Operating activities:
Net increase (decrease) in net assets resulting from operations	$	27,894	$	(1,266)	$	(3,151)	$	6,623	$	50,141
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash (used in) provided by operating activities:
Net accretion of discount on investments	(2,601)		(2,478)		(6,943)		(4,974)		(11,032)
Proceeds from principal repayment of investments	52,809		102,963		110,271		161,710		407,174
Purchase of investments	(69,885)		(173,224)		(92,933)		(311,047)		(550,538)
Paid-in-kind interest and dividends capitalized	(6,049)		(5,897)		(12,611)		(11,948)		(31,446)
(Increase) decrease in short term investments, net	(34,444)		1,418		(89,901)		73,572		77,048
Proceeds from sale of investments	1,789		6,591		10,601		8,875		62,586
Net realized loss (gain) on investments	18,928		(180)		23,453		(111)		32,747
Net change in unrealized (appreciation) depreciation on investments	(23,406)		20,734		32,972		32,259		5,314
Amortization of debt issuance costs	1,001		812		1,896		1,504		3,175
(Increase) decrease in interest receivable on investments	(8,117)		(746)		(10,014)		(162)		(2,821)
(Increase) decrease in dividends receivable on investments	—		—		1,275		—		(1,275)
(Increase) decrease in receivable due on investments sold and repaid	2,242		4,590		19		141		1,838
(Increase) decrease in prepaid expenses and other assets	3,944		1,506		217		(1,646)		(359)
Increase (decrease) in payable for investments purchased	—		11,635		—		308		(11,327)
Increase (decrease) in accounts payable and accrued expenses	269		332		332		(728)		(910)
Increase (decrease) in interest payable	1,176		2,430		363		1,264		3,481
Increase (decrease) in accrued management fees	(130)		184		(378)		166		251
Increase (decrease) in accrued administrative services expense	(120)		154		(1,129)		(1,065)		108
Increase (decrease) in subordinated incentive fee on income payable	(1,367)		(42)		(98)		149		1,123
Increase (decrease) in share repurchase payable	67		—		67		—		—
Net cash (used in) provided by operating activities	(36,000)		(30,484)		(35,692)		(45,110)		35,278
Financing activities:
Repurchase of common stock	(3,226)		—		(6,818)		—		(15,444)
Shareholders' distributions paid	(18,614)		(15,949)		(52,232)		(31,897)		(66,644)
Repayments under financing arrangements	(25,000)		—		(52,500)		—		—
Borrowings under financing arrangements	—		72,500		80,712		117,500		127,500
Debt issuance costs paid	(1,661)		(1,025)		(4,694)		(1,725)		(1,725)
Net cash (used in) provided by financing activities	(48,501)		55,526		(35,532)		83,878		43,687
Net (decrease) increase in cash	(84,501)		25,042		(71,224)		38,768		78,965
Cash, beginning of period	96,016		17,500		82,739		3,774		3,774
Cash, end of period	$	11,515	$	42,542	$	11,515	$	42,542	$	82,739
Supplemental disclosure of cash flow information:
Cash paid for interest	$	18,284	$	7,586	$	37,498	$	16,511	$	42,930
Supplemental non-cash financing activities:
Restructuring of portfolio investment	$	33,373	$	—	$	79,359	$	—	$	50,554
Cash interest receivable exchanged for additional securities	$	1,353	$	—	$	2,265	$	—	$	—

See accompanying notes to consolidated financial statements.

4

CĪON Investment Corporation

Consolidated Schedule of Investments (unaudited)

June 30, 2023

(in thousands)

Portfolio Company(a)	Interest(b)	Maturity	Industry	Principal/ Par Amount/ Units(e)		Cost(d)		Fair Value(c)
Senior Secured First Lien Debt - 175.6%
Adapt Laser Acquisition, Inc.(s)(w)	L+1200, 1.00% LIBOR Floor	12/31/2023	Capital Equipment	$	10,979	$	10,979	$	11,143
Adapt Laser Acquisition, Inc.(s)(w)	L+1200, 1.00% LIBOR Floor	12/31/2023	Capital Equipment	2,093		2,093		2,041
Afore Insurance Services, LLC(m)(q)(z)	S+600, 1.00% SOFR Floor	3/24/2025	Banking, Finance, Insurance & Real Estate	4,583		4,583		4,572
AHF Parent Holding, Inc.(n)(z)	S+625, 0.75% SOFR Floor	2/1/2028	Construction & Building	2,813		2,767		2,714
Allen Media, LLC(n)(z)	S+600, 0.00% SOFR Floor	2/10/2027	Media: Diversified & Production	8,818		8,757		8,553
ALM Media, LLC(m)(n)(z)	S+600, 1.00% SOFR Floor	11/25/2024	Media: Advertising, Printing & Publishing	16,421		16,324		16,421
American Clinical Solutions LLC(m)(s)(v)	L+700, 1.00% LIBOR Floor	12/31/2024	Healthcare & Pharmaceuticals	4,859		4,859		4,726
American Consolidated Natural Resources, Inc.(m)(s)(w)	L+1600, 1.00% LIBOR Floor	9/16/2025	Metals & Mining	47		36		48
American Health Staffing Group, Inc.(m)(aa)	S+600, 1.00% SOFR Floor	11/19/2026	Services: Business	16,458		16,345		16,458
American Health Staffing Group, Inc.	0.50% Unfunded	11/19/2026	Services: Business	3,333		(22)		—
American Teleconferencing Services, Ltd.(p)	Prime+550	4/7/2023	Telecommunications	3,116		3,116		140
American Teleconferencing Services, Ltd.(o)	0.00% Unfunded	4/7/2023	Telecommunications	235		—		—
Analogic Corp.(m)(n)(z)	S+525, 1.00% SOFR Floor	6/21/2024	Healthcare & Pharmaceuticals	4,825		4,807		4,819
Ancile Solutions, Inc.(m)(s)(w)	L+1000, 1.00% LIBOR Floor	6/11/2026	High Tech Industries	11,359		11,126		11,231
Anthem Sports & Entertainment Inc.(m)(s)(w)	L+950, 1.00% LIBOR Floor	11/15/2026	Media: Diversified & Production	37,076		36,942		35,037
Anthem Sports & Entertainment Inc.(w)	L+950, 1.00% LIBOR Floor	11/15/2026	Media: Diversified & Production	3,000		3,000		2,835
Anthem Sports & Entertainment Inc.	0.50% Unfunded	11/15/2026	Media: Diversified & Production	167		—		(9)
Appalachian Resource Company, LLC(v)	L+500, 1.00% LIBOR Floor	9/30/2023	Metals & Mining	11,137		10,992		10,733
Appalachian Resource Company, LLC(v)	L+1000, 1.00% LIBOR Floor	9/15/2023	Metals & Mining	5,000		5,000		5,000
Archer Systems, LLC(m)(z)	S+600, 1.00% SOFR Floor	8/11/2027	Services: Business	22,098		21,908		22,180
Archer Systems, LLC	0.50% Unfunded	8/11/2027	Services: Business	1,905		(16)		7
Associated Asphalt Partners, LLC(m)(n)(w)	L+525, 1.00% LIBOR Floor	4/5/2024	Construction & Building	14,135		14,034		11,424
Atlas Supply LLC	11.00%	4/29/2025	Healthcare & Pharmaceuticals	5,000		5,000		4,938
Avison Young (USA) Inc.(m)(y)	S+650, 0.00% SOFR Floor	1/31/2026	Banking, Finance, Insurance & Real Estate	6,660		5,552		5,595
BDS Solutions Intermediateco, LLC(m)(z)	S+625, 1.00% SOFR Floor	2/7/2027	Services: Business	19,979		19,689		19,605
BDS Solutions Intermediateco, LLC(z)	S+625, 1.00% SOFR Floor	2/7/2027	Services: Business	1,811		1,754		1,777
BDS Solutions Intermediateco, LLC	0.50% Unfunded	2/7/2027	Services: Business	1,046		—		(20)
Berlitz Holdings, Inc.(y)	S+900, 1.00% SOFR Floor	2/14/2025	Services: Business	13,800		13,165		13,421
Bradshaw International Parent Corp.(m)(y)	S+575, 1.00% SOFR Floor	10/21/2027	Consumer Goods: Durable	12,899		12,648		12,544
Bradshaw International Parent Corp.	0.50% Unfunded	10/21/2026	Consumer Goods: Durable	1,844		(31)		(51)

See accompanying notes to consolidated financial statements.

5

CĪON Investment Corporation

Consolidated Schedule of Investments (unaudited)

June 30, 2023

(in thousands)

Portfolio Company(a)	Interest(b)	Maturity	Industry	Principal/ Par Amount/ Units(e)	Cost(d)	Fair Value(c)
Cabi, LLC(m)(y)	S+550, 2.00% SOFR Floor	2/28/2027	Retail	21,576	21,319	21,522
Cadence Aerospace, LLC(m)(n)(z)	S+650, 1.00% SOFR Floor	11/14/2024	Aerospace & Defense	12,642	12,610	12,627
Carestream Health, Inc.(n)(q)(y)	S+750, 1.00% SOFR Floor	9/30/2027	Healthcare & Pharmaceuticals	11,481	10,376	11,423
Celerity Acquisition Holdings, LLC(m)(z)	S+850, 1.00% SOFR Floor	5/28/2026	Services: Business	16,000	15,976	16,000
Cennox, Inc.(m)(z)	S+600, 1.00% SOFR Floor	5/4/2026	Services: Business	22,455	22,455	22,371
Cennox, Inc.(m)(n)(z)	S+600, 1.00% SOFR Floor	5/4/2026	Services: Business	11,552	11,548	11,509
Cennox, Inc.(z)	S+600, 1.00% SOFR Floor	5/4/2026	Services: Business	2,987	2,987	2,976
Cennox, Inc.	1.00% Unfunded	11/22/2023	Services: Business	7,193	(45)	(27)
CION/EagleTree Partners, LLC(h)(r)(s)	14.00%	12/21/2026	Diversified Financials	54,827	54,827	54,827
CircusTrix Holdings, LLC(m)(n)(y)	S+550, 1.00% SOFR Floor	1/16/2024	Hotel, Gaming & Leisure	26,702	26,666	26,702
CircusTrix Holdings, LLC(m)(y)	S+550, 1.00% SOFR Floor	1/16/2024	Hotel, Gaming & Leisure	2,719	2,697	2,719
CircusTrix Holdings, LLC(m)(y)	S+550, 1.00% SOFR Floor	7/16/2023	Hotel, Gaming & Leisure	753	751	902
Community Tree Service, LLC(m)(z)	S+1100, 1.00% SOFR Floor	6/17/2027	Construction & Building	11,513	11,513	11,312
Country Fresh Holdings, LLC(p)(w)	L+600, 1.00% LIBOR Floor	4/30/2024	Beverage, Food & Tobacco	844	663	60
Country Fresh Holdings, LLC(p)(w)	L+600, 1.00% LIBOR Floor	4/30/2024	Beverage, Food & Tobacco	342	276	24
Coyote Buyer, LLC(m)(n)(z)	S+600, 1.00% SOFR Floor	2/6/2026	Chemicals, Plastics & Rubber	33,863	33,729	33,524
Coyote Buyer, LLC(n)(z)	S+800, 1.00% SOFR Floor	8/6/2026	Chemicals, Plastics & Rubber	6,094	6,020	6,094
Coyote Buyer, LLC(z)	S+600, 1.00% SOFR Floor	2/6/2025	Chemicals, Plastics & Rubber	1,000	1,000	990
Coyote Buyer, LLC	0.50% Unfunded	2/6/2025	Chemicals, Plastics & Rubber	1,500	—	(15)
Critical Nurse Staffing, LLC(m)(z)	S+575, 1.00% SOFR Floor	11/1/2026	Healthcare & Pharmaceuticals	12,863	12,863	12,863
Critical Nurse Staffing, LLC(m)(z)	S+575, 1.00% SOFR Floor	11/1/2026	Healthcare & Pharmaceuticals	994	994	994
Critical Nurse Staffing, LLC(z)	S+575, 1.00% SOFR Floor	11/1/2026	Healthcare & Pharmaceuticals	460	460	460
Critical Nurse Staffing, LLC	1.00% Unfunded	11/1/2026	Healthcare & Pharmaceuticals	4,899	—	—
Critical Nurse Staffing, LLC	0.50% Unfunded	11/1/2026	Healthcare & Pharmaceuticals	540	—	—
David's Bridal, LLC(m)(p)(s)(u)(w)	Prime+1100	5/23/2024	Retail	13,331	12,419	10,798
David's Bridal, LLC(m)(p)(s)(u)(w)	Prime+1100,	5/23/2024	Retail	5,491	5,426	4,448
David's Bridal, LLC(p)(s)(u)(w)	L+1000, 1.00% LIBOR Floor	12/23/2024	Retail	6,014	5,457	—
David's Bridal, LLC(p)(s)(u)(w)	L+700, 1.00% LIBOR Floor	12/31/2024	Retail	865	793	—
Deluxe Entertainment Services, Inc.(m)(p)(q)(s)(w)	L+650, 1.00% LIBOR Floor	3/25/2024	Media: Diversified & Production	2,603	2,542	130
Dermcare Management, LLC(m)(y)	S+600, 1.00% SOFR Floor	4/22/2028	Healthcare & Pharmaceuticals	9,309	9,147	9,309
Dermcare Management, LLC(m)(y)	S+600, 1.00% SOFR Floor	4/22/2028	Healthcare & Pharmaceuticals	3,523	3,447	3,523
Dermcare Management, LLC	Prime+600	4/22/2028	Healthcare & Pharmaceuticals	358	358	358
Dermcare Management, LLC	0.50% Unfunded	10/22/2023	Healthcare & Pharmaceuticals	698	—	—

See accompanying notes to consolidated financial statements.

6

CĪON Investment Corporation

Consolidated Schedule of Investments (unaudited)

June 30, 2023

(in thousands)

Portfolio Company(a)	Interest(b)	Maturity	Industry	Principal/ Par Amount/ Units(e)	Cost(d)	Fair Value(c)
Dermcare Management, LLC	0.50% Unfunded	4/22/2028	Healthcare & Pharmaceuticals	985	—	—
DMT Solutions Global Corp.(n)(t)	L+750, 1.00% LIBOR Floor	7/2/2024	Services: Business	3,846	3,825	3,808
Emerald Technologies (U.S.) Acquisitionco, Inc.(n)(y)	S+625, 1.00% SOFR Floor	12/29/2027	Services: Business	2,906	2,859	2,805
Entertainment Studios P&A LLC(m)(z)	S+850, 1.00% SOFR Floor	9/28/2027	Media: Diversified & Production	23,049	22,965	23,049
Entertainment Studios P&A LLC(j)	5.00%	5/18/2037	Media: Diversified & Production	—	—	1,045
Flatworld Intermediate Corp.(n)(z)	S+650, 1.00% SOFR Floor	10/3/2027	Services: Business	25,009	25,009	25,197
Flatworld Intermediate Corp.	0.50% Unfunded	10/3/2027	Services: Business	5,865	—	44
Florida Food Products, LLC	S+500, 0.75% SOFR Floor	10/18/2028	Services: Business	2,244	1,863	1,930
FuseFX, LLC(m)(n)(z)	S+600, 1.00% SOFR Floor	10/1/2024	Media: Diversified & Production	19,693	19,610	19,398
Fusion Connect Inc.(m)(s)(z)	S+850, 1.00% SOFR Floor	1/18/2027	High Tech Industries	19,540	19,113	19,540
Future Pak, LLC(m)(y)	S+1000, 2.00% SOFR Floor	7/2/2024	Healthcare & Pharmaceuticals	20,128	20,128	20,128
Gold Medal Holdings, Inc.(m)(z)	S+700, 1.00% SOFR Floor	3/17/2027	Environmental Industries	14,722	14,606	14,722
GSC Technologies Inc.(q)(y)	S+500, 1.00% SOFR Floor	9/30/2025	Chemicals, Plastics & Rubber	2,404	2,336	2,127
GSC Technologies Inc.(q)(s)(y)	S+500, 1.00% SOFR Floor	9/30/2025	Chemicals, Plastics & Rubber	957	930	694
H.W. Lochner, Inc.(m)(z)	S +675, 1.00% SOFR Floor	7/2/2027	Construction & Building	10,373	11,612	10,463
H.W. Lochner, Inc.(m)(z)	S+625, 1.00% SOFR Floor	7/2/2027	Construction & Building	8,805	7,221	8,827
H.W. Lochner, Inc.(z)	S+625, 1.00% SOFR Floor	7/2/2027	Construction & Building	775	765	777
H.W. Lochner, Inc.	0.50% Unfunded	7/2/2027	Construction & Building	225	—	1
Harland Clarke Holdings Corp.(m)(z)	S+775, 1.00% SOFR Floor	6/16/2026	Media: Advertising, Printing & Publishing	9,186	9,180	8,727
Heritage Power, LLC	Prime+500	7/30/2026	Energy: Oil & Gas	8,622	6,979	3,794
Hilliard, Martinez & Gonzales, LLP(m)(s)(y)	S+1200, 2.00% SOFR Floor	12/17/2023	Services: Consumer	23,703	23,681	23,733
Hollander Intermediate LLC(m)(z)	S+875, 2.00% SOFR Floor	9/19/2026	Consumer Goods: Durable	17,140	16,740	16,711
Homer City Generation, L.P.(m)(p)(s)	15.00%	10/1/2024	Energy: Oil & Gas	12,222	12,024	8,128
Homer City Generation, L.P.(s)	17.00%	8/15/2023	Energy: Oil & Gas	1,000	1,000	1,015
Hudson Hospital Opco, LLC(m)(n)(y)	S+800, 3.00% SOFR Floor	11/4/2023	Healthcare & Pharmaceuticals	2,186	2,149	2,169
HUMC Holdco, LLC(m)(w)	S+800, 3.00% SOFR Floor	11/4/2023	Healthcare & Pharmaceuticals	7,805	7,805	7,805
HW Acquisition, LLC(m)	Prime+500	9/28/2026	Capital Equipment	18,781	18,652	15,165
HW Acquisition, LLC	Prime+500	9/28/2026	Capital Equipment	733	714	592
HW Acquisition, LLC	0.50% Unfunded	9/28/2026	Capital Equipment	2,200	—	(424)
ICA Foam Holdings, LLC(m)(z)	S+725, 1.00% SOFR Floor	11/5/2025	Containers, Packaging & Glass	19,850	19,539	19,453
IJKG Opco LLC(m)(n)(y)	S+800, 3.00% SOFR Floor	11/4/2023	Healthcare & Pharmaceuticals	1,457	1,436	1,446
Inotiv, Inc.(m)(aa)	S+675, 1.00% SOFR Floor	11/5/2026	Healthcare & Pharmaceuticals	16,365	16,144	15,793
Instant Web, LLC(q)(s)(y)	S+700, 1.00% SOFR Floor	2/25/2027	Media: Advertising, Printing & Publishing	42,249	42,249	25,349

See accompanying notes to consolidated financial statements.

7

CĪON Investment Corporation

Consolidated Schedule of Investments (unaudited)

June 30, 2023

(in thousands)

Portfolio Company(a)	Interest(b)	Maturity	Industry	Principal/ Par Amount/ Units(e)	Cost(d)	Fair Value(c)
Instant Web, LLC(q)(s)(y)	S+650, 1.00% SOFR Floor	2/25/2027	Media: Advertising, Printing & Publishing	2,414	2,414	2,348
Instant Web, LLC(q)(s)	Prime+375	2/25/2027	Media: Advertising, Printing & Publishing	467	467	479
Instant Web, LLC(q)	0.50% Unfunded	2/25/2027	Media: Advertising, Printing & Publishing	328	—	(9)
Instant Web, LLC(q)	0.50% Unfunded	2/25/2027	Media: Advertising, Printing & Publishing	3,246	—	(89)
Invincible Boat Company LLC(m)(w)	L+650, 1.50% LIBOR Floor	8/28/2025	Consumer Goods: Durable	13,536	13,464	13,536
Invincible Boat Company LLC(w)	L+650, 1.50% LIBOR Floor	8/28/2025	Consumer Goods: Durable	479	479	479
Invincible Boat Company LLC	0.50% Unfunded	8/28/2025	Consumer Goods: Durable	319	—	—
INW Manufacturing, LLC(n)(w)	L+575, 0.75% LIBOR Floor	3/25/2027	Services: Business	18,250	17,871	16,813
Ironhorse Purchaser, LLC(n)(z)	S+650, 1.00% SOFR Floor	9/30/2027	Services: Business	7,089	7,028	7,089
Ironhorse Purchaser, LLC(z)	S+650, 1.00% SOFR Floor	9/30/2024	Services: Business	2,031	2,014	2,031
Ironhorse Purchaser, LLC(z)	S+650, 1.00% SOFR Floor	9/30/2027	Services: Business	517	510	517
Ironhorse Purchaser, LLC	0.50% Unfunded	9/30/2027	Services: Business	299	—	—
Isagenix International, LLC(q)(z)	S+550, 1.00% SOFR Floor	4/14/2028	Beverage, Food & Tobacco	8,237	8,237	8,237
Jenny C Acquisition, Inc.(p)(w)	L+900, 1.75% LIBOR Floor	10/1/2024	Services: Consumer	11,789	11,745	—
Jenny C Acquisition, Inc.(p)(y)	S+900, 1.75% SOFR Floor	10/1/2024	Services: Consumer	534	534	131
JP Intermediate B, LLC(m)(w)	L+550, 1.00% LIBOR Floor	11/20/2027	Beverage, Food & Tobacco	12,979	12,867	10,091
K&N Parent, Inc.(s)(y)	S+525, 1.00% SOFR Floor	8/14/2027	Consumer Goods: Durable	5,441	5,441	5,427
K&N Parent, Inc.(m)(y)	S+800, 1.00% SOFR Floor	2/14/2027	Consumer Goods: Durable	4,252	4,108	4,454
Klein Hersh, LLC(m)(s)(y)	S+1130, 0.50% SOFR Floor	4/27/2027	Services: Business	20,782	20,782	20,730
KNB Holdings Corp.(m)(p)(x)	L+550, 1.00% LIBOR Floor	4/26/2024	Consumer Goods: Durable	7,634	7,387	305
LAV Gear Holdings, Inc.(m)(n)(z)	S+628, 1.00% SOFR Floor	10/31/2024	Services: Business	27,722	27,559	27,662
LAV Gear Holdings, Inc.(m)(n)(z)	S+628, 1.00% SOFR Floor	10/31/2024	Services: Business	4,548	4,531	4,542
LGC US Finco, LLC(m)(v)	L+650, 1.00% LIBOR Floor	12/20/2025	Capital Equipment	11,348	11,139	11,348
Lift Brands, Inc.(m)(n)(q)(y)	S+750, 1.00% SOFR Floor	6/29/2025	Services: Consumer	23,169	23,169	23,169
Lift Brands, Inc.(m)(n)(q)(s)	9.50%	6/29/2025	Services: Consumer	5,777	5,724	5,430
Lift Brands, Inc.(m)(n)(q)(s)	9.50%	6/29/2025	Services: Consumer	6,602	6,282	6,016
MacNeill Pride Group Corp.(m)(z)	S+650, 1.00% SOFR Floor	4/22/2026	Services: Consumer	17,714	17,635	17,626
MacNeill Pride Group Corp.(m)(z)	S+650, 1.00% SOFR Floor	4/22/2026	Services: Consumer	6,539	6,487	6,506
MacNeill Pride Group Corp.	1.00% Unfunded	4/30/2024	Services: Consumer	2,017	—	(10)
Manus Bio Inc.	13.00%	8/20/2026	Healthcare & Pharmaceuticals	13,081	13,014	13,081
Medplast Holdings, Inc.(v)	L+375, 1.00% LIBOR Floor	7/2/2025	Healthcare & Pharmaceuticals	4,987	4,781	4,849
Mimeo.com, Inc.(m)(w)	L+680, 1.00% LIBOR Floor	12/21/2024	Media: Advertising, Printing & Publishing	21,983	21,983	21,846
Mimeo.com, Inc.(w)	L+680, 1.00% LIBOR Floor	12/21/2024	Media: Advertising, Printing & Publishing	2,756	2,756	2,739
Mimeo.com, Inc.	1.00% Unfunded	12/21/2024	Media: Advertising, Printing & Publishing	2,500	—	(16)
Moss Holding Company(m)(n)(z)	S+625, 1.00% SOFR Floor	4/17/2024	Services: Business	19,475	19,428	19,232

See accompanying notes to consolidated financial statements.

8

CĪON Investment Corporation

Consolidated Schedule of Investments (unaudited)

June 30, 2023

(in thousands)

Portfolio Company(a)	Interest(b)	Maturity	Industry	Principal/ Par Amount/ Units(e)	Cost(d)	Fair Value(c)
Moss Holding Company	6.25% Unfunded	4/17/2024	Services: Business	106	—	(1)
Moss Holding Company	0.50% Unfunded	4/17/2024	Services: Business	2,126	—	(27)
NewsCycle Solutions, Inc.(m)(n)(z)	S +700, 1.00% SOFR Floor	12/29/2023	Media: Advertising, Printing & Publishing	12,381	12,377	12,396
NWN Parent Holdings LLC(m)(z)	S+800, 1.00% SOFR Floor	5/7/2026	High Tech Industries	12,604	12,536	12,494
NWN Parent Holdings LLC(z)	S+800, 1.00% SOFR Floor	5/7/2026	High Tech Industries	600	587	595
NWN Parent Holdings LLC	0.50% Unfunded	5/7/2026	High Tech Industries	1,200	—	(11)
OpCo Borrower, LLC(m)(y)	S+650, 1.00% SOFR Floor	8/19/2027	Healthcare & Pharmaceuticals	11,243	11,141	11,328
OpCo Borrower, LLC	0.50% Unfunded	8/19/2027	Healthcare & Pharmaceuticals	1,042	—	8
Optio Rx, LLC(m)(n)(v)	L+700, 0.00% LIBOR Floor	6/28/2024	Healthcare & Pharmaceuticals	15,585	15,561	15,526
Optio Rx, LLC(n)(v)	L+1000, 0.00% LIBOR Floor	6/28/2024	Healthcare & Pharmaceuticals	2,515	2,508	2,578
Pentec Acquisition Corp.(m)(y)	S+600, 1.00% SOFR Floor	10/8/2026	Healthcare & Pharmaceuticals	24,625	24,461	24,687
PH Beauty Holdings III. Inc.(m)(w)	L+500, 0.00% LIBOR Floor	9/28/2025	Consumer Goods: Non-Durable	9,525	9,212	8,727
Playboy Enterprises, Inc.(h)(n)(z)	S+425, 0.50% SOFR Floor	5/25/2027	Consumer Goods: Non-Durable	19,527	19,179	19,234
PRA Acquisition, LLC(n)(z)	S+650, 1.00% SOFR Floor	5/12/2028	Hotel, Gaming & Leisure	20,000	20,000	20,000
Project Castle, Inc.(m)(z)	S+550, 0.50% SOFR Floor	6/1/2029	Capital Equipment	7,930	7,181	6,741
R. R. Donnelley & Sons Company	S+725, 0.75% SOFR Floor	3/22/2028	Media: Advertising, Printing & Publishing	12,582	12,550	12,535
RA Outdoors, LLC(m)(z)	S+675, 1.00% SOFR Floor	4/8/2026	Media: Diversified & Production	10,979	10,979	10,979
RA Outdoors, LLC	0.50% Unfunded	4/8/2026	Media: Diversified & Production	1,049	(94)	—
Retail Services WIS Corp.(m)(z)	S+775, 1.00% SOFR Floor	5/20/2025	Services: Business	9,297	9,154	9,297
Robert C. Hilliard, L.L.P.(m)(s)(y)	S+1200, 2.00% SOFR Floor	12/17/2023	Services: Consumer	1,973	1,973	1,976
Rogers Mechanical Contractors, LLC(m)(s)(aa)	S+800, 1.00% SOFR Floor	9/9/2025	Construction & Building	15,275	15,275	15,217
Rogers Mechanical Contractors, LLC(m)(s)(aa)	S+800, 1.00% SOFR Floor	9/9/2025	Construction & Building	899	899	896
Rogers Mechanical Contractors, LLC	0.75% Unfunded	9/9/2025	Construction & Building	2,404	—	(9)
RumbleOn, Inc.(m)(z)	S+825, 1.00% SOFR Floor	8/31/2026	Automotive	13,221	12,523	12,461
RumbleOn, Inc.(m)(z)	S+825, 1.00% SOFR Floor	8/31/2026	Automotive	4,000	3,974	3,770
Securus Technologies Holdings, Inc.(m)(w)	L+450, 1.00% LIBOR Floor	11/1/2024	Telecommunications	3,847	3,484	3,852
Sequoia Healthcare Management, LLC(m)(n)	12.75%	11/4/2023	Healthcare & Pharmaceuticals	8,525	8,456	8,024
Service Compression, LLC(m)(s)(z)	S+1000, 1.00% SOFR Floor	5/6/2027	Energy: Oil & Gas	23,208	22,894	23,382
Service Compression, LLC(m)(s)(z)	S+1000, 1.00% SOFR Floor	5/6/2027	Energy: Oil & Gas	6,477	6,381	6,526
Service Compression, LLC	0.50% Unfunded	5/6/2025	Energy: Oil & Gas	907	—	7
Sleep Opco, LLC(m)(z)	S+700, 1.00% SOFR Floor	10/12/2026	Retail	13,704	13,518	13,602
Sleep Opco, LLC(z)	S+650, 1.00% SOFR Floor	10/12/2026	Retail	550	527	546
Sleep Opco, LLC(m)(z)	S+700, 1.00% SOFR Floor	10/12/2026	Retail	399	394	402
Sleep Opco, LLC	0.50% Unfunded	10/12/2026	Retail	1,200	—	(9)
Spinal USA, Inc. / Precision Medical Inc.(s)(w)	L+950	11/29/2023	Healthcare & Pharmaceuticals	14,349	14,332	7,748

See accompanying notes to consolidated financial statements.

9

CĪON Investment Corporation

Consolidated Schedule of Investments (unaudited)

June 30, 2023

(in thousands)

Portfolio Company(a)	Interest(b)	Maturity	Industry	Principal/ Par Amount/ Units(e)	Cost(d)	Fair Value(c)
Spinal USA, Inc. / Precision Medical Inc.(s)(w)	L+950	11/29/2023	Healthcare & Pharmaceuticals	1,275	1,275	650
Spinal USA, Inc. / Precision Medical Inc.(s)(w)	L+950	11/29/2023	Healthcare & Pharmaceuticals	820	762	418
Spinal USA, Inc. / Precision Medical Inc.(s)(w)	L+950	11/29/2023	Healthcare & Pharmaceuticals	778	778	397
Spinal USA, Inc. / Precision Medical Inc.(s)(w)	L+950	11/29/2023	Healthcare & Pharmaceuticals	649	604	351
Spinal USA, Inc. / Precision Medical Inc.(s)(w)	L+950	11/29/2023	Healthcare & Pharmaceuticals	593	593	599
STATinMED, LLC(q)(s)(y)	S+950, 2.00% SOFR Floor	7/1/2027	Healthcare & Pharmaceuticals	9,905	9,905	9,657
Thrill Holdings LLC(m)(z)	S+650, 1.00% SOFR Floor	5/27/2027	Media: Diversified & Production	20,136	20,136	19,907
Thrill Holdings LLC	0.50% Unfunded	5/27/2027	Media: Diversified & Production	1,739	—	—
Thrill Holdings LLC	1.00% Unfunded	5/27/2024	Media: Diversified & Production	3,261	—	—
Trademark Global, LLC(m)(s)(y)	S+750, 1.00% SOFR Floor	7/30/2024	Consumer Goods: Non-Durable	15,508	15,484	15,042
Trammell, P.C.(s)(y)	S+1550, 2.00% SOFR Floor	4/28/2026	Services: Consumer	13,814	13,814	13,814
USALCO, LLC(m)(y)	S+600, 1.00% SOFR Floor	10/19/2027	Chemicals, Plastics & Rubber	24,625	24,441	24,533
Williams Industrial Services Group, Inc.(n)(s)(z)	S+1100, 1.00% SOFR Floor	12/16/2025	Services: Business	7,693	7,693	7,540
Williams Industrial Services Group, Inc.(s)(z)	S+1100, 1.00% SOFR Floor	12/16/2025	Services: Business	1,429	1,429	1,400
Wok Holdings Inc.(m)(v)	L+650, 0.00% LIBOR Floor	3/1/2026	Beverage, Food & Tobacco	24,974	24,317	23,938
WorkGenius, Inc.(m)(z)	S+750, 1.00% SOFR Floor	6/7/2027	Services: Business	10,385	10,385	10,385
WorkGenius, Inc.(z)	S+750, 1.00% SOFR Floor	6/7/2027	Services: Business	750	737	750
Xenon Arc, Inc.(m)(w)	L+525, 0.75% LIBOR Floor	12/17/2027	High Tech Industries	3,895	3,861	3,895
Yak Access, LLC(m)(z)	S+640, 1.00% SOFR Floor	3/10/2028	Construction & Building	2,972	2,972	2,972
Total Senior Secured First Lien Debt					1,546,799	1,468,630
Senior Secured Second Lien Debt - 4.7%
Global Tel*Link Corp.(n)(z)	S+1000, 0.00% SOFR Floor	11/29/2026	Telecommunications	11,500	11,393	11,428
OpCo Borrower, LLC(m)	12.50%	2/19/2028	Healthcare & Pharmaceuticals	12,500	11,730	11,500
RA Outdoors, LLC(m)(z)	S+900, 1.00% SOFR Floor	10/8/2026	Media: Diversified & Production	1,818	1,818	1,818
Securus Technologies Holdings, Inc.(w)	L+825, 1.00% LIBOR Floor	11/1/2025	Telecommunications	2,942	2,930	2,895
TMK Hawk Parent, Corp.(w)	L+800, 1.00% LIBOR Floor	9/26/2025	Services: Business	13,393	13,282	11,903
Total Senior Secured Second Lien Debt					41,153	39,544
Collateralized Securities and Structured Products - Equity - 0.1%
APIDOS CLO XVI Subordinated Notes(g)(h)	0.00% Estimated Yield	1/19/2025	Diversified Financials	9,000	1,217	13
Galaxy XV CLO Ltd. Class A Subordinated Notes(g)(h)	19.30% Estimated Yield	4/15/2025	Diversified Financials	4,000	1,293	1,033
Total Collateralized Securities and Structured Products - Equity					2,510	1,046
Unsecured Debt - 2.1%
Lucky Bucks Holdings LLC(p)(s)	12.50%	5/29/2028	Hotel, Gaming & Leisure	24,307	22,860	4,375
Macquarie Capital Funding LLC(i)(v)	L+750, 0.75% LIBOR Floor	7/30/2027	Hotel, Gaming & Leisure	10,500	4,200	5,513

See accompanying notes to consolidated financial statements.

10

CĪON Investment Corporation

Consolidated Schedule of Investments (unaudited)

June 30, 2023

(in thousands)

Portfolio Company(a)	Interest(b)	Maturity	Industry	Principal/ Par Amount/ Units(e)	Cost(d)	Fair Value(c)
WPLM Acquisition Corp.(s)	15.00%	11/24/2025	Media: Advertising, Printing & Publishing	7,623	7,575	7,413
Total Unsecured Debt					34,635	17,301
Equity - 19.3%
ARC Financial Partners, LLC, Membership Interests (25% ownership)(o)(q)			Metals & Mining	NA	—	—
Ascent Resources - Marcellus, LLC, Membership Units(o)			Energy: Oil & Gas	511,255 Units	1,642	746
Carestream Health Holdings, Inc., Common Stock(o)(q)			Healthcare & Pharmaceuticals	613,262 Units	21,758	20,716
CF Arch Holdings LLC, Class A Units(o)			Services: Business	380,952 Units	381	564
CION/EagleTree Partners, LLC, Participating Preferred Shares(h)(r)			Diversified Financials	22,072,841 Units	22,073	25,179
CION/EagleTree Partners, LLC, Membership Units (85% ownership)(h)(o)(r)			Diversified Financials	NA	—	—
DBI Investors, Inc., Series A1 Preferred Stock(o)			Retail	20,000 Units	802	—
DBI Investors, Inc., Series A2 Preferred Stock(o)			Retail	1,733 Units	—	—
DBI Investors, Inc., Series A Preferred Stock(o)			Retail	1,396 Units	140	—
DBI Investors, Inc., Series B Preferred Stock(o)			Retail	4,183 Units	410	—
DBI Investors, Inc., Common Stock(o)			Retail	39,423 Units	—	—
DBI Investors, Inc., Reallocation Rights(o)			Retail	7,500 Units	—	—
FWS Parent Holdings, LLC, Class A Membership Interests(o)			Services: Business	35,242 Units	800	467
GSC Technologies Inc., Common Shares(o)(q)			Chemicals, Plastics & Rubber	807,268 Units	—	—
IPP Buyer Holdings, LLC, Class A Units(o)(q)			Retail	8,888,354 Units	10,740	11,733
Instant Web Holdings, LLC, Class A Common Units(o)(q)			Media: Advertising, Printing & Publishing	10,819 Units	—	—
Isagenix Worldwide, Inc., Common Shares(o)(q)			Beverage, Food & Tobacco	601,941 Units	8,987	8,987
K&N Holdco, LLC, Membership Units(o)			Consumer Goods: Durable	458,364 Units	8,356	6,880
Language Education Holdings GP LLC, Common Units(o)			Services: Business	366,667 Units	—	—
Language Education Holdings LP, Ordinary Common Units(o)			Services: Business	366,667 Units	825	1,360
Longview Intermediate Holdings C, LLC, Membership Units(q)			Energy: Oil & Gas	653,989 Units	2,704	21,680
Mount Logan Capital Inc., Common Stock(f)(h)(q)			Banking, Finance, Insurance & Real Estate	1,075,557 Units	3,534	2,266
New Giving Acquisition, Inc., Warrants(o)			Healthcare & Pharmaceuticals	4,630 Units	633	1,394
NS NWN Acquisition, LLC, Class A Preferred Units(o)			High Tech Industries	111 Units	110	1,338
NS NWN Acquisition, LLC, Common Equity(o)			High Tech Industries	346 Units	393	—
NS NWN Holdco LLC, Non-Voting Units(o)			High Tech Industries	522 Units	504	295
NSG Co-Invest (Bermuda) LP, Partnership Interests(h)(o)			Consumer Goods: Durable	1,575 Units	1,000	887
Palmetto Clean Technology, Inc., Warrants(o)			High Tech Industries	724,112 Units	471	3,287
RumbleOn, Inc., Warrants(o)			Automotive	60,606 Units	927	—
Service Compression, LLC, Warrants(o)			Energy: Oil & Gas	N/A	509	970
Snap Fitness Holdings, Inc., Class A Common Stock(o)(q)			Services: Consumer	9,858 Units	3,078	4,936
Snap Fitness Holdings, Inc., Warrants(o)(q)			Services: Consumer	3,996 Units	1,247	2,001
SRA Holdings, LLC, Membership Units(o)(q)			Banking, Finance, Insurance & Real Estate	224,865 Units	23,611	23,706

See accompanying notes to consolidated financial statements.

11

CĪON Investment Corporation

Consolidated Schedule of Investments (unaudited)

June 30, 2023

(in thousands)

Portfolio Company(a)	Interest	Industry	Principal/ Par Amount/ Units(e)	Cost(d)		Fair Value(c)
STATinMed Parent, LLC, Class A Preferred Units(o)(q)		Healthcare & Pharmaceuticals	6,182 Units	6,182		2,526
STATinMed Parent, LLC, Class B Preferred Units(o)(q)		Healthcare & Pharmaceuticals	51,221 Units	3,193		—
URS Topco, LLC(o)		Transportation: Cargo	430,540 Units	9,669		12,298
WorkGenius, LLC, Class A Units(o)		Services: Business	500 Units	500		415
Yak Holding II, LLC, Series A Preferred Units(o)		Construction & Building	4,000,000 Units	2,000		4,000
Yak Holding II, LLC, Series B-1 Preferred Units(o)		Construction & Building	1,966,018 Units	1,966		1,966
Yak Holding II, LLC, Series A Common Units(o)		Construction & Building	127,419 Units	—		573
Total Equity				139,145		161,170
Short Term Investments - 12.0%(k)
First American Treasury Obligations Fund, Class Z Shares	4.99%(l)			100,771		100,771
Total Short Term Investments				100,771		100,771
TOTAL INVESTMENTS - 213.8%				$	1,865,013	1,788,462
LIABILITIES IN EXCESS OF OTHER ASSETS - (113.8)%						(952,098)
NET ASSETS - 100.0%						$	836,364

a.All of the Company’s investments are issued by eligible U.S. portfolio companies, as defined in the Investment Company Act of 1940, as amended, or the 1940 Act, except for investments specifically identified as non-qualifying per note h. below. Unless specifically identified in note s. below, investments do not contain a paid-in-kind, or PIK, interest provision.

b.The actual Secured Overnight Financing Rate, or SOFR, rate for each loan listed may not be the applicable SOFR rate as of June 30, 2023, as the loan may have been priced or repriced based on a SOFR rate prior to or subsequent to June 30, 2023. The actual London Interbank Offered Rate, or LIBOR, rate for each loan listed may not be the applicable LIBOR rate as of June 30, 2023, as the loan may have been priced or repriced based on a LIBOR rate prior to or subsequent to June 30, 2023.

c.Fair value determined in good faith by the Company’s board of directors (see Note 9), including via delegation to CIM as the Company’s valuation designee (see Note 2), using significant unobservable inputs unless otherwise noted.

d.Represents amortized cost for debt securities and cost for equity investments.

e.Denominated in U.S. dollars unless otherwise noted.

f.Fair value determined using level 1 inputs.

g.The CLO subordinated notes are considered equity positions in the CLO vehicles and are not rated. Equity investments are entitled to recurring distributions, which are generally equal to the remaining cash flow of the payments made by the underlying vehicle's securities less contractual payments to debt holders and expenses. The estimated yield indicated is based upon a current projection of the amount and timing of these recurring distributions and the estimated amount of repayment of principal upon termination. Such projections are periodically reviewed and adjusted, and the estimated yield may not ultimately be realized.

h.The investment or a portion thereof is not a qualifying asset under the 1940 Act. A business development company may not acquire any asset other than qualifying assets, unless, at the time the acquisition is made, qualifying assets represent at least 70% of the company’s total assets as defined under Section 55 of the 1940 Act. As of June 30, 2023, 94.3% of the Company’s total assets represented qualifying assets.

i.The Company has entered into a proceeds agreement with Macquarie Capital Funding LLC, or Macquarie, in which any proceeds received by Macquarie from an underlying first lien term loan are passed onto the Company. Macquarie's obligations under the proceeds agreement are not secured by any collateral. The interest rate, maturity date, par balance and industry reflect the terms of the underlying first lien term loan.

j.In addition to the interest earned based on the stated interest rate of this loan, which is the amount reflected in this schedule, the Company may be entitled to receive additional residual amounts.

k.Short term investments represent an investment in a fund that invests in highly liquid investments with average original maturity dates of three months or less.

l.7-day effective yield as of June 30, 2023.

m.Investment or a portion thereof held within the Company’s wholly-owned consolidated subsidiary, 34th Street Funding, LLC, or 34th Street, and was pledged as collateral supporting the amounts outstanding under the credit facility with JPMorgan Chase Bank, National Association, or JPM, as of June 30, 2023 (see Note 8).

n.Investment or a portion thereof held within the Company’s wholly-owned consolidated subsidiary, Murray Hill Funding II, LLC, or Murray Hill Funding II, and was pledged as collateral supporting the amounts outstanding under the repurchase agreement with UBS AG, or UBS, as of June 30, 2023 (see Note 8).

o.Non-income producing security.

See accompanying notes to consolidated financial statements.

12

CĪON Investment Corporation

Consolidated Schedule of Investments (unaudited)

June 30, 2023

(in thousands)

p.Investment or a portion thereof was on non-accrual status as of June 30, 2023.

q.Investment determined to be an affiliated investment as defined in the 1940 Act as the Company owns between 5% and 25% of the portfolio company’s outstanding voting securities but does not control the portfolio company. Fair value as of December 31, 2022 and June 30, 2023, along with transactions during the six months ended June 30, 2023 in these affiliated investments, were as follows:

			Six Months Ended June 30, 2023								Six Months Ended June 30, 2023
Non-Controlled, Affiliated Investments	Fair Value at December 31, 2022		Gross Additions (Cost)(1)		Gross Reductions (Cost)(2)		Net Unrealized Gain (Loss)		Fair Value at June 30, 2023		Net Realized Gain (Loss)		Interest Income(3)		Dividend Income		Fee Income
Afore Insurance Services, LLC
First Lien Term Loan	$	—	$	4,583	$	—	$	(11)	$	4,572	$	—	$	138	$	—	$	—
ARC Financial, LLC
Membership Interests	—		—		—		—		—		—		—		25		—
Carestream Health, Inc.
First Lien Term Loan	7,539		2,895		(115)		1,104		11,423		—		534		—		—
Carestream Health Holdings Inc.
Common Shares	21,544		—		—		(828)		20,716		—		—		—		—
DESG Holdings, Inc.
First Lien Term Loan	246		—		(82)		(34)		130		—		—		—		—
GSC Technologies Inc.
Incremental Term Loan	154		6		(160)		—		—		—		11		—		—
First Lien Term Loan A	2,064		14		—		49		2,127		—		136		—		—
First Lien Term Loan B	388		48		—		258		694		—		53		—		—
Common Shares	—		—		—		—		—		—		—		—		—
Instant Web Holdings, LLC
Class A Common Units	—		—		—		—		—		—		—		—		—
Instant Web, LLC
Revolving Loan	321		2,093		—		(75)		2,339		—		78		—		—
Priming Term Loan	469		10		—		—		479		—		27		—		—
First Lien Term Loan	28,167		2,447		—		(5,265)		25,349		—		2,436		—		—
First Lien Delayed Draw Term Loan	—		—		—		(89)		(89)		—		8		—		—
IPP Buyer Holdings, LLC
Class A Units	—		10,740		—		993		11,733		—		—		—		—
Isagenix International, LLC
First Lien Term Loan	—		8,237		—		—		8,237		—		189		—		477
Isagenix Worldwide, Inc.
Common Shares	—		8,987		—		—		8,987		—		—		—		—
Lift Brands, Inc.
Term Loan A	23,287		—		(118)		—		23,169		—		1,440		—		29
Term Loan B	5,154		234		—		42		5,430		—		280		—		—
Term Loan C	4,732		1,335		—		(51)		6,016		—		348		—		1,891
Longview Intermediate Holdings C, LLC
Membership Units	23,995		—		—		(2,315)		21,680		—		—		3,881		—
Longview Power, LLC
First Lien Term Loan	2,348		—		(1,389)		(959)		—		—		1,306		—		—
Mount Logan Capital Inc.
Common Stock	2,341		—		—		(75)		2,266		—		—		27		—
Snap Fitness Holdings, Inc.
Class A Stock	5,123		—		—		(187)		4,936		—		—		—		—
Warrants	2,077		—		—		(76)		2,001		—		—		—		—
SRA Holdings, LLC
Membership Units	—		23,611		—		95		23,706		—		—		—		—
STATinMED, LLC
First Lien Term Loan	9,107		683		—		(133)		9,657		—		696		—		—
Delayed Draw First Lien Term Loan	156		6		(162)		—		—		—		10		—		—
STATinMed Parent, LLC
Class A Preferred Units	4,530		—		—		(2,004)		2,526		—		—		—		—
Class B Preferred Units	134		—		—		(134)		—		—		—		—		—
Totals	$	143,876	$	65,929	$	(2,026)	$	(9,695)	$	198,084	$	—	$	7,690	$	3,933	$	2,397

See accompanying notes to consolidated financial statements.

13

CĪON Investment Corporation

Consolidated Schedule of Investments (unaudited)

June 30, 2023

(in thousands)

(1)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, 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.

(2)Gross reductions include decreases in the cost basis of investments 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.

(3)Includes PIK interest income.

r.Investment determined to be a controlled investment as defined in the 1940 Act as the Company is deemed to exercise a controlling influence over the management or policies of the portfolio company due to beneficially owning, either directly or through one or more controlled companies, more than 25% of the outstanding voting securities of such portfolio company. Fair value as of December 31, 2022 and June 30, 2023, along with transactions during the six months ended June 30, 2023 in these controlled investments, were as follows:

			Six Months Ended June 30, 2023								Six Months Ended June 30, 2023
Controlled Investments	Fair Value at December 31, 2022		Gross Additions (Cost)(1)		Gross Reductions (Cost)(2)		Net  Unrealized Gain (Loss)		Fair Value at June 30, 2023		Net Realized Gain (Loss)		Interest Income(3)		Dividend Income
CION/EagleTree Partners, LLC
Senior Secured Note	$	60,348	$	—	$	(5,521)	$	—	$	54,827	$	—	$	3,891	$	—
Participating Preferred Shares	30,766		—		—		(5,587)		25,179		—		—		4,250
Common Shares	—		—		—		—		—		—		—		—
Totals	$	91,114	$	—	$	(5,521)	$	(5,587)	$	80,006	$	—	$	3,891	$	4,250

(1)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, 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.

(2)Gross reductions include decreases in the cost basis of investments 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.

(3)Includes PIK interest income.

See accompanying notes to consolidated financial statements.

14

CĪON Investment Corporation

Consolidated Schedule of Investments (unaudited)

June 30, 2023

(in thousands)

s.As of June 30, 2023, the below investments contain a PIK interest provision whereby the issuer has either the option or the obligation to make interest payments with the issuance of additional securities. For certain investments, the borrower may toggle between cash and PIK interest payments.

		Interest Rate
Portfolio Company	Investment Type	Cash	PIK	All-in-Rate
Adapt Laser Acquisition, Inc.	Senior Secured First Lien Debt	15.24%	2.00%	17.24%
American Clinical Solutions LLC	Senior Secured First Lien Debt	7.00%	5.19%	12.19%
American Consolidated Natural Resources, Inc.	Senior Secured First Lien Debt	18.27%	3.00%	21.27%
Ancile Solutions, Inc.	Senior Secured First Lien Debt	12.56%	3.00%	15.56%
Anthem Sports & Entertainment Inc.	Senior Secured First Lien Debt	11.91%	2.75%	14.66%
CION/EagleTree Partners, LLC	Senior Secured Note	—	14.00%	14.00%
David's Bridal, LLC	Senior Secured First Lien Debt	14.25%	5.00%	19.25%
David's Bridal, LLC	Senior Secured First Lien Debt	10.54%	5.00%	15.54%
David's Bridal, LLC	Senior Secured First Lien Debt	1.00%	11.54%	12.54%
Deluxe Entertainment Services, Inc.	Senior Secured First Lien Debt	10.54%	1.50%	12.04%
Fusion Connect Inc.	Senior Secured First Lien Debt	12.86%	1.00%	13.86%
GSC Technologies Inc.	Senior Secured First Lien Debt	—	10.23%	10.23%
Hilliard, Martinez & Gonzales, LLP	Senior Secured First Lien Debt	—	17.27%	17.27%
Homer City Generation, L.P.	Senior Secured First Lien Debt	—	15.00%	15.00%
Instant Web, LLC	Senior Secured First Lien Debt	—	12.22%	12.22%
Instant Web, LLC	Senior Secured First Lien Debt	—	12.00%	12.00%
Instant Web, LLC	Senior Secured Revolving Loan	—	11.77%	11.77%
K&N Parent, Inc.	Senior Secured First Lien Debt	—	13.40%	13.40%
Klein Hersh, LLC	Senior Secured First Lien Debt	4.90%	12.00%	16.90%
Lift Brands, Inc.	Senior Secured First Lien Debt	—	9.50%	9.50%
Lucky Bucks Holdings LLC	Unsecured Note	—	12.50%	12.50%
Robert C. Hilliard, L.L.P.	Senior Secured First Lien Debt	—	17.27%	17.27%
Rogers Mechanical Contractors, LLC	Senior Secured First Lien Debt	12.09%	1.00%	13.09%
Service Compression, LLC	Senior Secured First Lien Debt	13.20%	2.00%	15.20%
Spinal USA, Inc. / Precision Medical Inc.	Senior Secured First Lien Debt	—	14.68%	14.68%
STATinMED, LLC	Senior Secured First Lien Debt	—	14.79%	14.79%
Trademark Global, LLC	Senior Secured First Lien Debt	8.10%	4.50%	12.60%
Trammell, P.C.	Senior Secured First Lien Debt	—	20.72%	20.72%
Williams Industrial Services Group, Inc.	Senior Secured First Lien Debt	10.00%	6.18%	16.18%
WPLM Acquisition Corp.	Unsecured Note	—	15.00%	15.00%

t.As of June 30, 2023, the index rate for $1,750 and $2,096 was 3 Month LIBOR and 6 Month LIBOR, respectively.

u.On July 21, 2023, the Company acquired substantially all of the assets of David's Bridal, LLC in a non-cash transaction upon exit from bankruptcy.

v.The interest rate on these loans is subject to 1 month LIBOR, which as of June 30, 2023 was 5.22%.

w.The interest rate on these loans is subject to 3 month LIBOR, which as of June 30, 2023 was 5.54%

x.The interest rate on these loans is subject to 6 month LIBOR, which as of June 30, 2023 was 5.76%.

y.The interest rate on these loans is subject to 1 month SOFR, which as of June 30, 2023 was 5.14%.

z.The interest rate on these loans is subject to 3 month SOFR, which as of June 30, 2023 was 5.27%.

aa.The interest rate on these loans is subject to 6 month SOFR, which as of June 30, 2023 was 5.39%.

See accompanying notes to consolidated financial statements.

15

CĪON Investment Corporation

Consolidated Schedule of Investments

December 31, 2022

(in thousands)

Portfolio Company(a)	Interest(b)	Maturity	Industry	Principal/ Par Amount/ Units(e)		Cost(d)		Fair Value(c)
Senior Secured First Lien Debt - 178.8%
Adapt Laser Acquisition, Inc.(t)(x)	L+1200, 1.00% LIBOR Floor	12/31/2023	Capital Equipment	$	11,047	$	11,048	$	10,329
Adapt Laser Acquisition, Inc.(t)(x)	L+1200, 1.00% LIBOR Floor	12/31/2023	Capital Equipment	2,072		2,072		1,875
AHF Parent Holding, Inc.(n)(aa)	S+625, 0.75% SOFR Floor	2/1/2028	Construction & Building	2,944		2,891		2,771
Allen Media, LLC(n)(aa)	S+550, 0.00% SOFR Floor	2/10/2027	Media: Diversified & Production	8,863		8,793		8,420
ALM Media, LLC(m)(n)(x)	L+650, 1.00% LIBOR Floor	11/25/2024	Media: Advertising, Printing & Publishing	17,000		16,855		17,000
American Clinical Solutions LLC(m)(t)(w)	L+700, 1.00% LIBOR Floor	12/31/2024	Healthcare & Pharmaceuticals	4,250		4,250		4,122
American Consolidated Natural Resources, Inc.(m)(t)(x)	L+1600, 1.00% LIBOR Floor	9/16/2025	Metals & Mining	47		35		47
American Health Staffing Group, Inc.(m)(y)	L+600, 1.00% LIBOR Floor	11/19/2026	Services: Business	16,542		16,407		16,542
American Health Staffing Group, Inc.	0.50% Unfunded	11/19/2026	Services: Business	3,333		(26)		—
American Teleconferencing Services, Ltd.(o)(q)	0.50% Unfunded	1/31/23	Telecommunications	235		—		—
American Teleconferencing Services, Ltd.(q)	Prime+550	1/31/23	Telecommunications	3,116		3,116		156
Analogic Corp.(m)(n)(x)	L+525, 1.00% LIBOR Floor	6/21/2024	Healthcare & Pharmaceuticals	4,850		4,823		4,795
Ancile Solutions, Inc.(m)(t)(x)	L+1000, 1.00% LIBOR Floor	6/11/2026	High Tech Industries	11,967		11,681		11,608
Anthem Sports & Entertainment Inc.(m)(t)(x)	L+950, 1.00% LIBOR Floor	11/15/2026	Media: Diversified & Production	36,914		36,749		35,161
Anthem Sports & Entertainment Inc.(x)	L+950, 1.00% LIBOR Floor	11/15/2026	Media: Diversified & Production	3,000		3,000		2,857
Anthem Sports & Entertainment Inc.	0.50% Unfunded	11/15/2026	Media: Diversified & Production	167		—		(8)
Appalachian Resource Company, LLC(w)	L+500, 1.00% LIBOR Floor	9/10/2023	Metals & Mining	11,137		10,625		10,733
Appalachian Resource Company, LLC(w)	L+1000, 1.00% LIBOR Floor	9/10/2023	Metals & Mining	5,000		5,000		5,000
Archer Systems, LLC(m)(z)	S+650, 1.00% SOFR Floor	8/11/2027	Services: Business	18,095		17,922		17,937
Archer Systems, LLC	0.50% Unfunded	8/11/2027	Services: Business	1,905		(18)		(17)
Associated Asphalt Partners, LLC(m)(n)(w)	L+525, 1.00% LIBOR Floor	4/5/2024	Construction & Building	14,221		14,051		10,994
Atlas Supply LLC	11.00%	4/29/2025	Healthcare & Pharmaceuticals	5,000		5,000		4,950
Avison Young (USA) Inc.(h)(m)(w)	S+575, 0.00% SOFR Floor	1/31/2026	Banking, Finance, Insurance & Real Estate	2,665		2,638		2,505
BDS Solutions Intermediateco, LLC(m)(aa)	S+625, 1.00% SOFR Floor	2/7/2027	Services: Business	17,822		17,535		17,466
BDS Solutions Intermediateco, LLC(aa)	S+625, 1.00% SOFR Floor	2/7/2027	Services: Business	859		802		842
BDS Solutions Intermediateco, LLC	0.50% Unfunded	2/7/2027	Services: Business	1,998		—		(40)
Berlitz Holdings, Inc.(r)(z)	S+900, 1.00% SOFR Floor	2/14/2025	Services: Business	13,800		12,992		13,179
Bradshaw International Parent Corp.(m)(w)	L+ 575, 1.00% LIBOR Floor	10/21/2027	Consumer Goods: Durable	13,024		12,746		12,650
Bradshaw International Parent Corp.	0.50% Unfunded	10/21/2026	Consumer Goods: Durable	1,844		(36)		(53)

See accompanying notes to consolidated financial statements.

16

CĪON Investment Corporation

Consolidated Schedule of Investments

December 31, 2022

(in thousands)

Portfolio Company(a)	Interest(b)	Maturity	Industry	Principal/ Par Amount/ Units(e)	Cost(d)	Fair Value(c)
Cabi, LLC(m)(z)	S+950, 1.00% SOFR Floor	2/28/2027	Retail	22,073	21,772	21,742
Cadence Aerospace, LLC(m)(n)(t)(x)	L+850, 1.00% LIBOR Floor	11/14/2023	Aerospace & Defense	39,383	39,225	38,842
Carestream Health, Inc.(n)(r)(z)	S+750, 1.00% SOFR Floor	9/30/2027	Healthcare & Pharmaceuticals	7,596	7,596	7,539
CB URS Holdings Corp.(m)(x)	L+575, 1.00% LIBOR Floor	9/1/2024	Transportation: Cargo	14,826	14,801	12,417
Celerity Acquisition Holdings, LLC(m)(x)	L+850, 1.00% LIBOR Floor	5/28/2026	Services: Business	14,775	14,775	14,590
Cennox, Inc.(m)(x)	L+600, 1.00% LIBOR Floor	5/4/2026	Services: Business	22,509	22,509	22,425
Cennox, Inc.(n)(x)	L+600, 1.00% LIBOR Floor	5/4/2026	Services: Business	11,787	11,730	11,743
Cennox, Inc.	L+600, 1.00% LIBOR Floor	5/4/2026	Services: Business	2,614	2,614	2,604
Cennox, Inc.	1.00% Unfunded	8/11/2023	Services: Business	7,193	—	(27)
Cennox, Inc.	0.50% Unfunded	5/4/2026	Services: Business	373	—	(1)
CION/EagleTree Partners, LLC(h)(s)(t)	14.00%	12/21/2026	Diversified Financials	60,348	60,348	60,348
CircusTrix Holdings, LLC(m)(n)(w)	L+550, 1.00% LIBOR Floor	1/16/2024	Hotel, Gaming & Leisure	26,824	26,782	26,824
CircusTrix Holdings, LLC(m)(w)	L+550, 1.00% LIBOR Floor	1/16/2024	Hotel, Gaming & Leisure	2,737	2,715	2,737
CircusTrix Holdings, LLC(m)(w)	L+550, 1.00% LIBOR Floor	7/16/2023	Hotel, Gaming & Leisure	1,560	1,525	1,862
Community Tree Service, LLC(m)(aa)	S+850, 1.00% SOFR Floor	6/17/2027	Construction & Building	12,469	12,469	12,219
Country Fresh Holdings, LLC(q)(x)	L+500, 1.00% LIBOR Floor	4/29/2023	Beverage, Food & Tobacco	877	765	92
Country Fresh Holdings, LLC(q)(x)	L+500, 1.00% LIBOR Floor	4/29/2023	Beverage, Food & Tobacco	355	316	37
Coyote Buyer, LLC(m)(n)(x)	L+600, 1.00% LIBOR Floor	2/6/2026	Chemicals, Plastics & Rubber	34,038	33,861	33,612
Coyote Buyer, LLC(n)(x)	L+800, 1.00% LIBOR Floor	8/6/2026	Chemicals, Plastics & Rubber	6,125	6,041	6,125
Coyote Buyer, LLC	0.50% Unfunded	2/6/2025	Chemicals, Plastics & Rubber	2,500	—	(31)
Critical Nurse Staffing, LLC(m)(x)	L+600, 1.00% LIBOR Floor	11/1/2026	Healthcare & Pharmaceuticals	12,928	12,928	12,928
Critical Nurse Staffing, LLC(x)	L+600, 1.00% LIBOR Floor	11/1/2026	Healthcare & Pharmaceuticals	999	999	999
Critical Nurse Staffing, LLC(w)	L+600, 1.00% LIBOR Floor	11/1/2026	Healthcare & Pharmaceuticals	300	300	300
Critical Nurse Staffing, LLC	1.00% Unfunded	11/1/2026	Healthcare & Pharmaceuticals	4,899	—	—
Critical Nurse Staffing, LLC	0.50% Unfunded	11/1/2026	Healthcare & Pharmaceuticals	700	—	—
David's Bridal, LLC(m)(t)(x)	L+1000, 1.00% LIBOR Floor	5/23/2024	Retail	13,000	12,744	13,130
David's Bridal, LLC(t)(x)	L+1000, 1.00% LIBOR Floor	5/23/2024	Retail	5,357	5,357	5,210
David's Bridal, LLC(t)(x)	L+1000, 1.00% LIBOR Floor	12/23/2024	Retail	5,936	5,717	2,256
David's Bridal, LLC(q)(t)(w)	L+700, 1.00% LIBOR Floor	12/31/2024	Retail	845	795	51
Deluxe Entertainment Services, Inc.(m)(q)(r)(t)(x)	L+650, 1.00% LIBOR Floor	3/25/2024	Media: Diversified & Production	2,664	2,624	246
Dermcare Management, LLC(m)(z)	S+600, 1.00% SOFR Floor	4/22/2028	Healthcare & Pharmaceuticals	9,356	9,178	9,297
Dermcare Management, LLC(z)	S+600, 1.00% SOFR Floor	4/22/2028	Healthcare & Pharmaceuticals	3,540	3,458	3,518
Dermcare Management, LLC	Prime+500	4/22/2028	Healthcare & Pharmaceuticals	179	179	178
Dermcare Management, LLC	0.50% Unfunded	10/22/2023	Healthcare & Pharmaceuticals	698	—	(4)

See accompanying notes to consolidated financial statements.

17

CĪON Investment Corporation

Consolidated Schedule of Investments

December 31, 2022

(in thousands)

Portfolio Company(a)	Interest(b)	Maturity	Industry	Principal/ Par Amount/ Units(e)	Cost(d)	Fair Value(c)
Dermcare Management, LLC	0.50% Unfunded	4/22/2028	Healthcare & Pharmaceuticals	1,164	—	(7)
DMT Solutions Global Corp.(n)(u)	L+750, 1.00% LIBOR Floor	7/2/2024	Services: Business	3,974	3,942	3,766
Emerald Technologies (U.S.) Acquisitionco, Inc.(n)(z)	S+625, 1.00% SOFR Floor	12/29/2027	Services: Business	2,944	2,891	2,794
Entertainment Studios P&A LLC(m)(x)(aa)	S+850, 1.00% SOFR Floor	9/28/2027	Media: Diversified & Production	24,000	23,907	23,940
Entertainment Studios P&A LLC(j)	5.00%	5/18/2037	Media: Diversified & Production	—	—	1,654
Flatworld Intermediate Corp.(n)(z)	S+600, 1.00% SOFR Floor	10/3/2027	Services: Business	25,135	25,135	25,135
Flatworld Intermediate Corp.	0.50% Unfunded	10/3/2027	Services: Business	5,865	—	—
FuseFX, LLC(m)(n)(w)	S+575, 1.00% SOFR Floor	10/1/2024	Media: Diversified & Production	19,795	19,663	19,647
Fusion Connect Inc.(m)(t)(x)	L+850, 1.00% LIBOR Floor	1/18/2027	High Tech Industries	19,626	19,141	19,626
Future Pak, LLC(m)(w)	L+1000, 2.00% LIBOR Floor	7/2/2024	Healthcare & Pharmaceuticals	24,169	24,169	23,776
Gold Medal Holdings, Inc.(m)(aa)	S+700, 1.00% SOFR Floor	3/17/2027	Services: Business	14,759	14,628	14,575
GSC Technologies Inc.(r)(w)	L+500, 1.00% LIBOR Floor	9/30/2025	Chemicals, Plastics & Rubber	2,404	2,322	2,064
GSC Technologies Inc.(r)(t)(w)	L+500, 1.00% LIBOR Floor	9/30/2025	Chemicals, Plastics & Rubber	915	882	388
GSC Technologies Inc.(r)(t)(x)	L+1000, 1.00% LIBOR Floor	9/30/2025	Chemicals, Plastics & Rubber	154	154	154
H.W. Lochner, Inc.(m)(x)	L+575, 1.00% LIBOR Floor	7/2/2027	Construction & Building	8,850	8,779	8,850
H.W. Lochner, Inc.(m)(aa)	S+675, 1.00% SOFR Floor	7/2/2027	Construction & Building	7,457	7,234	7,233
H.W. Lochner, Inc.(x)	L+575, 1.00% LIBOR Floor	7/2/2027	Construction & Building	775	765	775
H.W. Lochner, Inc.	0.50% Unfunded	7/2/2027	Construction & Building	225	—	—
Harland Clarke Holdings Corp. (m)(x)	S+775, 1.00% SOFR Floor	6/16/2026	Services: Business	9,186	9,177	7,625
Heritage Power, LLC(x)	L+600, 1.00% LIBOR Floor	7/30/2026	Energy: Oil & Gas	8,622	6,837	4,527
Hilliard, Martinez & Gonzales, LLP(m)(t)(w)	L+1200, 2.00% LIBOR Floor	12/17/2023	Services: Consumer	21,798	21,736	21,798
Hollander Intermediate LLC(m)(w)(aa)	S+875, 2.00% SOFR Floor	9/19/2026	Consumer Goods: Durable	17,358	16,915	16,794
Homer City Generation, L.P.(m)(t)	15.00%	4/5/2023	Energy: Oil & Gas	11,782	12,078	9,308
Homer City Generation, L.P.	17.00%	5/31/2023	Energy: Oil & Gas	1,000	1,000	1,000
Homer City Generation, L.P.(o)	0.00% Unfunded	1/29/2023	Energy: Oil & Gas	3,000	—	—
Hudson Hospital Opco, LLC(m)(n)(aa)	S+800, 3.00% SOFR Floor	11/4/2023	Healthcare & Pharmaceuticals	1,700	1,667	1,673
HUMC Holdco, LLC(m)(aa)	S+800, 3.00% SOFR Floor	11/4/2023	Healthcare & Pharmaceuticals	7,933	7,933	7,933
HW Acquisition, LLC	Prime+500	9/28/2026	Capital Equipment	733	711	686
HW Acquisition, LLC(m)	Prime+500	9/28/2026	Capital Equipment	18,876	18,725	17,649
HW Acquisition, LLC	0.50% Unfunded	9/28/2026	Capital Equipment	2,200	—	(143)
ICA Foam Holdings, LLC(m)(aa)	S+675, 1.00% SOFR Floor	11/5/2025	Containers, Packaging & Glass	19,950	19,567	19,551
IJKG Opco LLC(m)(n)(aa)	S+800, 3.00% SOFR Floor	11/4/2023	Healthcare & Pharmaceuticals	729	714	718
Independent Pet Partners Intermediate Holdings, LLC(t)	6.00%	11/20/2023	Retail	10,934	10,906	10,169
Independent Pet Partners Intermediate Holdings, LLC(t)	Prime+550	2/27/2023	Retail	2,238	2,238	2,216
Independent Pet Partners Intermediate Holdings, LLC(t)(aa)	S+1000, 1.00% SOFR Floor	2/27/2023	Retail	473	459	473
Independent Pet Partners Intermediate Holdings, LLC(t)(x)	L+650, 0.00% LIBOR Floor	2/27/2023	Retail	281	281	278

    

See accompanying notes to consolidated financial statements.

18

CĪON Investment Corporation

Consolidated Schedule of Investments

December 31, 2022

(in thousands)

Portfolio Company(a)	Interest(b)	Maturity	Industry	Principal/ Par Amount/ Units(e)	Cost(d)	Fair Value(c)
InfoGroup Inc.(m)(n)(x)	L+500, 1.00% LIBOR Floor	4/3/2023	Media: Advertising, Printing & Publishing	15,270	15,269	15,270
Inotiv, Inc.(m)(x)	S+625, 1.00% SOFR Floor	11/5/2026	Healthcare & Pharmaceuticals	16,351	16,094	15,738
Instant Web, LLC(m)(n)(r)(t)(w)	L+700, 1.00% LIBOR Floor	2/25/2027	Media: Advertising, Printing & Publishing	39,812	39,802	28,167
Instant Web, LLC(r)	Prime+375	2/25/2027	Media: Advertising, Printing & Publishing	458	458	469
Instant Web, LLC(r)(x)	L+650, 1.00% LIBOR Floor	2/25/2027	Media: Advertising, Printing & Publishing	321	321	321
Instant Web, LLC(r)	0.50% Unfunded	2/25/2027	Media: Advertising, Printing & Publishing	2,383	—	—
Instant Web, LLC(r)	0.50% Unfunded	2/25/2027	Media: Advertising, Printing & Publishing	3,246	—	—
Invincible Boat Company LLC(m)(x)	L+650, 1.50% LIBOR Floor	8/28/2025	Consumer Goods: Durable	13,536	13,444	13,469
Invincible Boat Company LLC(x)	L+650, 1.50% LIBOR Floor	8/28/2025	Consumer Goods: Durable	239	239	238
Invincible Boat Company LLC	0.50% Unfunded	8/28/2025	Consumer Goods: Durable	559	—	(3)
INW Manufacturing, LLC(n)(x)	L+575, 0.75% LIBOR Floor	3/25/2027	Services: Business	18,750	18,317	17,766
Ironhorse Purchaser, LLC(n)(aa)	S+650, 1.00% SOFR Floor	9/30/2027	Services: Business	7,125	7,056	7,054
Ironhorse Purchaser, LLC(aa)	S+650, 1.00% SOFR Floor	9/30/2027	Services: Business	388	380	384
Ironhorse Purchaser, LLC	0.50% Unfunded	9/30/2027	Services: Business	429	—	(4)
Ironhorse Purchaser, LLC	1.00% Unfunded	9/30/2024	Services: Business	2,041	(20)	(20)
Isagenix International, LLC(m)(x)	L+775, 1.00% LIBOR Floor	6/14/2025	Beverage, Food & Tobacco	16,229	15,103	13,774
Jenny C Acquisition, Inc.(q)(x)	L+900, 1.75% LIBOR Floor	10/1/2024	Services: Consumer	11,789	11,745	9,241
JP Intermediate B, LLC(m)(x)	L+550, 1.00% LIBOR Floor	11/20/2025	Beverage, Food & Tobacco	13,438	13,296	9,809
K&N Parent, Inc.(x)	L+675, 1.00% LIBOR Floor	10/20/2023	Consumer Goods: Durable	13,090	12,898	12,435
K&N Parent, Inc.(aa)	S+800, 1.00% SOFR Floor	2/15/2023	Consumer Goods: Durable	1,200	1,152	1,220
Klein Hersh, LLC(m)(z)	S+852, 0.50% SOFR Floor	4/27/2027	Services: Business	19,766	19,766	19,667
KNB Holdings Corp.(m)(n)(q)(y)	L+550, 1.00% LIBOR Floor	4/26/2024	Consumer Goods: Durable	7,634	7,387	3,321
LaserAway Intermediate Holdings II, LLC(m)(x)	L+575, 0.75% LIBOR Floor	10/12/2027	Services: Consumer	3,375	3,319	3,316
LAV Gear Holdings, Inc.(m)(n)(aa)	S+550, 1.00% SOFR Floor	10/31/2024	Services: Business	27,854	27,625	27,366
LAV Gear Holdings, Inc.(m)(n)(aa)	S+550, 1.00% SOFR Floor	10/31/2024	Services: Business	4,569	4,544	4,489
LGC US Finco, LLC(m)(w)	L+650, 1.00% LIBOR Floor	12/20/2025	Capital Equipment	11,515	11,263	11,184
Lift Brands, Inc.(m)(n)(r)(w)	L+750, 1.00% LIBOR Floor	6/29/2025	Services: Consumer	23,287	23,287	23,287
Lift Brands, Inc.(m)(n)(r)	9.50%	6/29/2025	Services: Consumer	5,556	5,490	5,154
Lift Brands, Inc.(m)(n)(r)	(p)	6/29/2025	Services: Consumer	5,296	4,947	4,732
Longview Power, LLC(r)(x)	L+1000, 1.50% LIBOR Floor	7/30/2025	Energy: Oil & Gas	2,073	1,390	2,348
MacNeill Pride Group Corp.(m)(aa)	S+625, 1.00% SOFR Floor	4/22/2026	Services: Consumer	17,804	17,702	17,448
MacNeill Pride Group Corp.(m)(aa)	S+625, 1.00% SOFR Floor	4/22/2026	Services: Consumer	7,910	7,836	7,751
MacNeill Pride Group Corp.	1.00% Unfunded	4/30/2024	Services: Consumer	2,017	—	(40)
Manus Bio Inc.	11.00%	8/20/2026	Healthcare & Pharmaceuticals	14,213	14,128	14,212
Marble Point Credit Management LLC(x)	L+600, 1.00% LIBOR Floor	8/11/2028	Diversified Financials	6,089	5,985	6,089
Marble Point Credit Management LLC(x)	L+600, 1.00% LIBOR Floor	8/11/2028	Diversified Financials	1,437	1,418	1,437

See accompanying notes to consolidated financial statements.

19

CĪON Investment Corporation

Consolidated Schedule of Investments

December 31, 2022

(in thousands)

Portfolio Company(a)	Interest(b)	Maturity	Industry	Principal/ Par Amount/ Units(e)	Cost(d)	Fair Value(c)
Mimeo.com, Inc.(x)	L+700, 1.00% LIBOR Floor	12/21/2024	Media: Advertising, Printing & Publishing	22,328	22,328	22,161
Mimeo.com, Inc.(x)	L+700, 1.00% LIBOR Floor	12/21/2024	Media: Advertising, Printing & Publishing	2,256	2,256	2,239
Mimeo.com, Inc.	1.00% Unfunded	12/21/2024	Media: Advertising, Printing & Publishing	3,000	—	(23)
Moss Holding Company(m)(n)(aa)	S+625, 1.00% SOFR Floor	4/17/2024	Services: Business	19,576	19,500	19,185
Moss Holding Company	6.25% Unfunded	4/17/2024	Services: Business	106	—	(2)
Moss Holding Company	0.50% Unfunded	4/17/2024	Services: Business	2,126	—	(43)
Neptune Flood Inc.(m)(x)	L+600, 1.00% LIBOR Floor	10/21/2026	Banking, Finance, Insurance & Real Estate	7,789	7,742	7,867
NewsCycle Solutions, Inc.(m)(n)(x)	S+700, 1.00% SOFR Floor	12/29/2023	Media: Advertising, Printing & Publishing	12,444	12,432	12,444
NWN Parent Holdings LLC(m)(x)	S+800, 1.00% SOFR Floor	5/7/2026	High Tech Industries	12,755	12,664	12,643
NWN Parent Holdings LLC(x)	S+800, 1.00% SOFR Floor	5/7/2026	High Tech Industries	810	798	803
NWN Parent Holdings LLC	0.50% Unfunded	5/7/2026	High Tech Industries	90	—	(1)
OpCo Borrower, LLC(m)(z)	S+650, 1.00% SOFR Floor	8/19/2027	Healthcare & Pharmaceuticals	11,387	11,268	11,387
OpCo Borrower, LLC(z)	S+650, 1.00% SOFR Floor	8/19/2027	Healthcare & Pharmaceuticals	208	208	208
OpCo Borrower, LLC	0.50% Unfunded	8/19/2027	Healthcare & Pharmaceuticals	833	—	—
Optio Rx, LLC(m)(n)(w)	L+700, 0.00% LIBOR Floor	6/28/2024	Healthcare & Pharmaceuticals	15,929	15,892	15,749
Optio Rx, LLC(n)(w)	L+1000, 0.00% LIBOR Floor	6/28/2024	Healthcare & Pharmaceuticals	2,515	2,504	2,615
Pentec Acquisition Corp.(m)(w)	L+600, 1.00% LIBOR Floor	10/8/2026	Healthcare & Pharmaceuticals	24,750	24,551	24,750
PH Beauty Holdings III. Inc.(m)(x)	L+500, 0.00% LIBOR Floor	9/28/2025	Consumer Goods: Non-Durable	9,575	9,195	8,677
Playboy Enterprises, Inc.(h)(n)(x)	L+625, 0.50% LIBOR Floor	5/25/2027	Consumer Goods: Non-Durable	25,202	24,729	24,257
Project Castle, Inc.(m)(aa)	S+550, 0.50% SOFR Floor	6/1/2029	Services: Business	9,975	8,979	8,117
RA Outdoors, LLC(m)(aa)	S+675, 1.00% SOFR Floor	4/8/2026	Media: Diversified & Production	10,979	10,979	10,938
RA Outdoors, LLC	0.50% Unfunded	4/8/2026	Media: Diversified & Production	1,049	(170)	(1)
Retail Services WIS Corp.(m)(x)	L+775, 1.00% LIBOR Floor	5/20/2025	Services: Business	9,548	9,374	9,357
Robert C. Hilliard, L.L.P.(m)(t)(w)	L+1200, 2.00% LIBOR Floor	12/17/2023	Services: Consumer	1,815	1,815	1,815
Rogers Mechanical Contractors, LLC(m)(t)(aa)	S+800, 1.00% SOFR Floor	9/9/2025	Services: Business	16,365	16,365	16,324
Rogers Mechanical Contractors, LLC(t)(aa)	S+800, 1.00% SOFR Floor	9/9/2025	Services: Business	962	962	959
Rogers Mechanical Contractors, LLC	1.00% Unfunded	4/28/2023	Services: Business	962	—	(2)
Rogers Mechanical Contractors, LLC	0.75% Unfunded	9/9/2025	Services: Business	2,404	—	(6)
RumbleOn, Inc.(m)(x)	L+825, 1.00% LIBOR Floor	8/31/2026	Automotive	13,284	12,497	12,554
RumbleOn, Inc.(x)	L+825, 1.00% LIBOR Floor	8/31/2026	Automotive	4,019	3,976	3,798
RumbleOn, Inc.(o)	0.00% Unfunded	2/28/2023	Automotive	1,775	—	(98)
Securus Technologies Holdings, Inc.(m)(x)	L+450, 1.00% LIBOR Floor	11/1/2024	Telecommunications	3,868	3,383	3,848
Sequoia Healthcare Management, LLC(m)(n)(q)	12.75%	11/4/2023	Healthcare & Pharmaceuticals	8,525	8,457	10,209
Service Compression, LLC(m)(t)(aa)	S+1000, 1.00% SOFR Floor	5/6/2027	Energy: Oil & Gas	22,975	22,622	22,803
Service Compression, LLC(aa)	S+1000, 1.00% SOFR Floor	5/6/2027	Energy: Oil & Gas	3,151	3,044	3,127

            

See accompanying notes to consolidated financial statements.

20

CĪON Investment Corporation

Consolidated Schedule of Investments

December 31, 2022

(in thousands)

Portfolio Company(a)	Interest(b)	Maturity	Industry	Principal/ Par Amount/ Units(e)	Cost(d)	Fair Value(c)
Service Compression, LLC	0.50% Unfunded	5/6/2025	Energy: Oil & Gas	4,186	—	(31)
Sleep Opco, LLC(m)(x)	L+650, 1.00% LIBOR Floor	10/12/2026	Retail	13,779	13,568	13,641
Sleep Opco, LLC	0.50% Unfunded	10/12/2026	Retail	1,750	(27)	(18)
Spinal USA, Inc. / Precision Medical Inc.(m)(t)(x)	L+950	5/29/2023	Healthcare & Pharmaceuticals	13,401	13,385	9,649
Spinal USA, Inc. / Precision Medical Inc.(m)(t)(x)	L+950	5/29/2023	Healthcare & Pharmaceuticals	1,191	1,191	816
Spinal USA, Inc. / Precision Medical Inc.(m)(t)(x)	L+950	5/29/2023	Healthcare & Pharmaceuticals	766	677	521
Spinal USA, Inc. / Precision Medical Inc.(m)(t)(x)	L+950	5/29/2023	Healthcare & Pharmaceuticals	727	727	498
Spinal USA, Inc. / Precision Medical Inc.(m)(t)(x)	L+950	5/29/2023	Healthcare & Pharmaceuticals	607	536	446
STATinMED, LLC(r)(t)(z)	S+950, 2.00% SOFR Floor	7/1/2027	Healthcare & Pharmaceuticals	9,222	9,222	9,107
STATinMED, LLC(r)(t)(z)	S+950, 2.00% SOFR Floor	3/31/2023	Healthcare & Pharmaceuticals	156	153	156
STATinMED, LLC(o)(r)	0.00% Unfunded	3/31/2023	Healthcare & Pharmaceuticals	156	—	—
Thrill Holdings LLC(m)(aa)	S+650, 1.00% SOFR Floor	5/27/2027	Media: Diversified & Production	20,394	20,394	20,292
Thrill Holdings LLC	1.00% Unfunded	5/27/2024	Media: Diversified & Production	3,261	—	(16)
Thrill Holdings LLC(aa)	S+650, 1.00% SOFR Floor	5/27/2027	Media: Diversified & Production	1,739	1,739	1,730
Trademark Global, LLC(t)(w)	L+750, 1.00% LIBOR Floor	7/30/2024	Consumer Goods: Non-Durable	15,355	15,310	14,952
Trammell, P.C.(t)(z)	S+1550, 2.00% SOFR Floor	4/28/2026	Services: Consumer	14,201	14,201	14,147
USALCO, LLC(m)(x)	L+600, 1.00% LIBOR Floor	10/19/2027	Chemicals, Plastics & Rubber	24,750	24,539	24,441
Vesta Holdings, LLC(m)(t)	P+900	2/25/2024	Banking, Finance, Insurance & Real Estate	21,071	21,071	19,938
Vesta Holdings, LLC(m)(aa)	S+1000, 1.00% SOFR Floor	3/12/2023	Banking, Finance, Insurance & Real Estate	10,392	10,159	10,392
Vesta Holdings, LLC(t)	P+900	2/25/2024	Banking, Finance, Insurance & Real Estate	838	838	793
Volta Charging, LLC(m)	12.00%	6/19/2024	Media: Diversified & Production	5,621	5,617	6,506
Volta Charging, LLC(m)	12.00%	6/19/2024	Media: Diversified & Production	1,500	1,499	1,736
Williams Industrial Services Group, Inc.(n)(t)(x)	L+900, 1.00% LIBOR Floor	12/16/2025	Services: Business	7,173	7,173	7,182
Wok Holdings Inc.(m)(x)	L+650, 0.00% LIBOR Floor	3/1/2026	Beverage, Food & Tobacco	25,105	24,335	21,684
WorkGenius, Inc.(m)(aa)	S+700, 0.50% SOFR Floor	6/7/2027	Services: Business	12,938	12,937	12,938
WorkGenius, Inc.	0.50% Unfunded	6/7/2027	Services: Business	750	(15)	—
Xenon Arc, Inc.(m)(x)	L+525, 0.75% LIBOR Floor	12/17/2027	High Tech Industries	6,915	6,846	6,846
Yak Access, LLC(m)	L+400, 0.00% LIBOR Floor	7/11/2025	Construction & Building	4,925	3,299	3,165
Total Senior Secured First Lien Debt					1,638,995	1,579,512
Senior Secured Second Lien Debt - 4.4%
Global Tel*Link Corp.(n)(aa)	S+1000, 0.00% SOFR Floor	11/29/2026	Telecommunications	11,500	11,378	11,414
OpCo Borrower, LLC(m)	12.50%	2/19/2028	Healthcare & Pharmaceuticals	12,500	11,659	11,312
RA Outdoors, LLC(m)(aa)	S+900, 1.00% SOFR Floor	10/8/2026	Media: Diversified & Production	1,827	1,827	1,825
Securus Technologies Holdings, Inc.(x)	L+825, 1.00% LIBOR Floor	11/1/2025	Telecommunications	2,942	2,926	2,884
TMK Hawk Parent, Corp.(x)	L+800, 1.00% LIBOR Floor	8/28/2025	Services: Business	13,393	13,246	11,334
Total Senior Secured Second Lien Debt					41,036	38,769

    

See accompanying notes to consolidated financial statements.

21

CĪON Investment Corporation

Consolidated Schedule of Investments

December 31, 2022

(in thousands)

Portfolio Company(a)	Interest	Maturity	Industry	Principal/ Par Amount/ Units(e)	Cost(d)	Fair Value(c)
Collateralized Securities and Structured Products - Equity - 0.1%
APIDOS CLO XVI Subordinated Notes(g)(h)	0.00% Estimated Yield	1/19/2025	Diversified Financials	9,000	1,246	71
Galaxy XV CLO Ltd. Class A Subordinated Notes(g)(h)	19.30% Estimated Yield	4/15/2025	Diversified Financials	4,000	1,441	1,108
Total Collateralized Securities and Structured Products - Equity					2,687	1,179
Unsecured Debt - 2.6%
Lucky Bucks Holdings LLC(t)	12.50%	5/29/2028	Hotel, Gaming & Leisure	22,860	22,860	15,316
WPLM Acquisition Corp.(t)	15.00%	11/24/2025	Media: Advertising, Printing & Publishing	7,623	7,567	7,327
Total Unsecured Debt					30,427	22,643
Equity - 12.1%
ARC Financial Partners, LLC, Membership Interests (25% ownership)(o)(r)			Metals & Mining	NA	—	—
Ascent Resources - Marcellus, LLC, Membership Units(o)			Energy: Oil & Gas	511,255 Units	1,642	1,235
Ascent Resources - Marcellus, LLC, Warrants(o)			Energy: Oil & Gas	132,367 Units	13	3
Carestream Health Holdings Inc., Common Stock(o)(r)			Healthcare & Pharmaceuticals	613,262 Units	21,758	21,544
CF Arch Holdings LLC, Class A Units(o)			Services: Business	380,952 Units	381	442
CION/EagleTree Partners, LLC, Participating Preferred Shares(h)(o)(s)			Diversified Financials	22,072,841 Units	22,073	30,766
CION/EagleTree Partners, LLC, Membership Units (85% ownership)(h)(o)(s)			Diversified Financials	NA	—	—
DBI Investors, Inc., Series A1 Preferred Stock(o)			Retail	20,000 Units	802	28
DBI Investors, Inc., Series A2 Preferred Stock(o)			Retail	1,733 Units	—	2
DBI Investors, Inc., Series A Preferred Stock(o)			Retail	1,396 Units	140	2
DBI Investors, Inc., Series B Preferred Stock(o)			Retail	4,183 Units	410	2
DBI Investors, Inc., Common Stock(o)			Retail	39,423 Units	—	—
DBI Investors, Inc., Reallocation Rights(o)			Retail	7,500 Units	—	—
FWS Parent Holdings, LLC. Class A Membership Interests(o)			Services: Business	35,242 Units	800	742
GSC Technologies Inc., Common Shares(o)(r)			Chemicals, Plastics & Rubber	807,268 Units	—	—
Independent Pet Partners Intermediate Holdings, LLC, Class A Preferred Units(o)			Retail	1,000,000 Units	1,000	60
Independent Pet Partners Intermediate Holdings, LLC, Class B-2 Preferred Units(m)(o)			Retail	2,632,771 Units	2,133	3,238
Independent Pet Partners Intermediate Holdings, LLC, Class C Preferred Units(m)(o)			Retail	2,632,771 Units	2,633	2,238
Independent Pet Partners Intermediate Holdings, LLC, Warrants(o)			Retail	155,880 Units	—	—
Instant Web Holdings, LLC, Class A Common Units(o)(r)			Media: Advertising, Printing & Publishing	10,819 Units	—	—
Language Education Holdings GP LLC, Common Units(o)(r)			Services: Business	366,667 Units	—	—
Language Education Holdings LP, Ordinary Common Units(o)(r)			Services: Business	366,667 Units	825	1,173
Longview Intermediate Holdings C, LLC, Membership Units(o)(r)			Energy: Oil & Gas	653,989 Units	2,704	23,995
Mount Logan Capital Inc., Common Stock(f)(h)(r)			Banking, Finance, Insurance & Real Estate	1,075,557 Units	3,534	2,341
New Giving Acquisition, Inc., Warrants(o)			Healthcare & Pharmaceuticals	4,630 Units	633	786
NS NWN Acquisition, LLC, Class A Preferred Units(o)			High Tech Industries	111 Units	110	909
NS NWN Acquisition, LLC, Common Equity(o)			High Tech Industries	346 Units	393	—

See accompanying notes to consolidated financial statements.

22

CĪON Investment Corporation

Consolidated Schedule of Investments

December 31, 2022

(in thousands)

Portfolio Company(a)	Interest	Industry	Principal/ Par Amount/ Units(e)	Cost(d)		Fair Value(c)
NS NWN Holdco LLC, Non-Voting Units(o)		High Tech Industries	522 Units	504		200
NSG Co-Invest (Bermuda) LP, Partnership Interests(h)(o)		Consumer Goods: Durable	1,575 Units	1,000		664
Palmetto Clean Technology, Inc., Warrants(o)		High Tech Industries	724,112 Units	471		3,867
RumbleOn, Inc., Warrants(o)		Automotive	60,606 Units	927		1
Service Compression, LLC, Warrants(o)		Energy: Oil & Gas	N/A	509		441
Snap Fitness Holdings, Inc., Class A Common Stock(o)(r)		Services: Consumer	9,858 Units	3,078		5,123
Snap Fitness Holdings, Inc., Warrants(o)(r)		Services: Consumer	3,996 Units	1,247		2,077
STATinMed Parent, LLC, Class A Preferred Units(o)(r)		Healthcare & Pharmaceuticals	6,182 Units	6,182		4,530
STATinMed Parent, LLC, Class B Preferred Units(o)(r)		Healthcare & Pharmaceuticals	51,221 Units	3,193		134
WorkGenius, LLC, Class A Units(o)		Services: Business	500 Units	500		515
Total Equity				79,595		107,058
Short Term Investments - 1.2%(k)
First American Treasury Obligations Fund, Class Z Shares	3.95%(l)			10,869		10,869
Total Short Term Investments				10,869		10,869
TOTAL INVESTMENTS - 199.2%				$	1,803,609	1,760,030
LIABILITIES IN EXCESS OF OTHER ASSETS - (99.2)%						(876,396)
NET ASSETS - 100.0%						$	883,634

a.All of the Company’s investments are issued by eligible U.S. portfolio companies, as defined in the 1940 Act, except for investments specifically identified as non-qualifying per note h. below. Unless specifically identified in note t. below, investments do not contain a PIK interest provision.

b.The actual LIBOR rate for each loan listed may not be the applicable LIBOR rate as of December 31, 2022, as the loan may have been priced or repriced based on a LIBOR rate prior to or subsequent to December 31, 2022. The actual SOFR rate for each loan listed may not be the applicable SOFR rate as of December 31, 2022, as the loan may have been priced or repriced based on a SOFR rate prior to or subsequent to December 31, 2022.

c.Fair value determined in good faith by the Company’s board of directors (see Note 9), including via delegation to CIM as the Company’s valuation designee (see Note 2), using significant unobservable inputs unless otherwise noted.

d.Represents amortized cost for debt securities and cost for equity investments.

e.Denominated in U.S. dollars unless otherwise noted.

f.Fair value determined using level 1 inputs.

g.The CLO subordinated notes are considered equity positions in the CLO vehicles and are not rated. Equity investments are entitled to recurring distributions, which are generally equal to the remaining cash flow of the payments made by the underlying vehicle's securities less contractual payments to debt holders and expenses. The estimated yield indicated is based upon a current projection of the amount and timing of these recurring distributions and the estimated amount of repayment of principal upon termination. Such projections are periodically reviewed and adjusted, and the estimated yield may not ultimately be realized.

h.The investment or a portion thereof is not a qualifying asset under the 1940 Act. A business development company may not acquire any asset other than qualifying assets, unless, at the time the acquisition is made, qualifying assets represent at least 70% of the company’s total assets as defined under Section 55 of the 1940 Act. As of December 31, 2022, 93.4% of the Company’s total assets represented qualifying assets.

See accompanying notes to consolidated financial statements.

23

CĪON Investment Corporation

Consolidated Schedule of Investments

December 31, 2022

(in thousands)

i.[Reserved]

j.In addition to the interest earned based on the stated interest rate of this loan, which is the amount reflected in this schedule, the Company may be entitled to receive additional residual amounts.

k.Short term investments represent an investment in a fund that invests in highly liquid investments with average original maturity dates of three months or less.

l.7-day effective yield as of December 31, 2022.

m.Investment or a portion thereof held within the Company’s wholly-owned consolidated subsidiary, 34th Street, and was pledged as collateral supporting the amounts outstanding under the credit facility with JPM as of December 31, 2022 (see Note 8).

n.Investment or a portion thereof held within the Company’s wholly-owned consolidated subsidiary, Murray Hill Funding II, and was pledged as collateral supporting the amounts outstanding under the repurchase agreement with UBS as of December 31, 2022 (see Note 8).

o.Non-income producing security.

p.The ultimate interest earned on this loan will be determined based on the portfolio company’s EBITDA at a specified trigger event.

q.Investment or a portion thereof was on non-accrual status as of December 31, 2022.

See accompanying notes to consolidated financial statements.

24

CĪON Investment Corporation

Consolidated Schedule of Investments

December 31, 2022

(in thousands)

r.Investment determined to be an affiliated investment as defined in the 1940 Act as the Company owns between 5% and 25% of the portfolio company’s outstanding voting securities but does not control the portfolio company. Fair value as of December 31, 2021 and 2022, along with transactions during the year ended December 31, 2022 in these affiliated investments, were as follows:

			Year Ended December 31, 2022								Year Ended December 31, 2022
Non-Controlled, Affiliated Investments	Fair Value at December 31, 2021		Gross Additions (Cost)(1)		Gross Reductions (Cost)(2)		Net Unrealized Gain (Loss)		Fair Value at December 31, 2022		Net Realized Gain (Loss)		Interest Income(3)		Dividend Income
ARC Financial, LLC
Membership Interests	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	25
Berlitz Holdings, Inc.
First Lien Term Loan	—		13,956		(13,956)		—		—		—		393		—
Carestream Health, Inc.
First Lien Term Loan	—		7,596		—		(57)		7,539		—		284		—
Carestream Health Holdings Inc.
Common Shares	—		21,758		—		(214)		21,544		—		—		—
Charming Charlie, LLC
Vendor Payment Financing Facility	350		—		(657)		307		—		(657)		26		—
DESG Holdings, Inc.
First Lien Term Loan	1,787		—		(306)		(1,235)		246		—		5		—
Second Lien Term Loan	—		—		(10,017)		10,017		—		(10,017)		—		—
GSC Technologies Inc.
Incremental Term Loan	170		8		(24)		—		154		—		22		—
First Lien Term Loan A	2,001		26		—		37		2,064		—		193		—
First Lien Term Loan B	485		67		—		(164)		388		—		72		—
Common Shares	—		—		—		—		—		—		—		—
Instant Web Holdings, LLC
Class A Common Units	—		—		—		—		—		—		—		—
Instant Web, LLC
Revolving Loan	—		970		(649)		—		321		—		26		—
Priming Term Loan	—		458		—		11		469		—		36		—
First Lien Term Loan	—		39,802		—		(11,635)		28,167		—		3,314		—
First Lien Delayed Draw Term Loan	—		—		—		—		—		—		14		—
Language Education Holdings GP LLC
Common Units	—		—		—		—		—		—		—		—
Language Education Holdings LP
Ordinary Common Units	—		1,125		(1,125)		—		—		—		—		—
Lift Brands, Inc.
Term Loan A	23,406		—		(236)		117		23,287		—		2,252		—
Term Loan B	5,156		235		—		(237)		5,154		—		545		—
Term Loan C	4,700		133		—		(101)		4,732		—		1,412		—
Longview Intermediate Holdings C, LLC
Membership Units	15,127		—		—		8,868		23,995		—		—		—
Longview Power, LLC
First Lien Term Loan	4,504		156		(1,391)		(921)		2,348		—		1,952		—
Mount Logan Capital Inc.
Common Stock	3,404		—		—		(1,063)		2,341		—		—		54
SIMR, LLC
First Lien Term Loan	16,000		1,447		(21,261)		3,814		—		(2,854)		804		—
SIMR Parent, LLC
Class B Membership Units	—		—		(8,002)		8,002		—		(8,002)		—		—
Class W Membership Units	—		—		—		—		—		—		—		—

See accompanying notes to consolidated financial statements

25

CĪON Investment Corporation

Consolidated Schedule of Investments

December 31, 2022

(in thousands)

			Year Ended December 31, 2022								Year Ended December 31, 2022
Non-Controlled, Affiliated Investments	Fair Value at December 31, 2021		Gross Additions (Cost)(1)		Gross Reductions (Cost)(2)		Net Unrealized Gain (Loss)		Fair Value at December 31, 2022		Net Realized Gain (Loss)		Interest Income(3)		Dividend Income
Snap Fitness Holdings, Inc.
Class A Stock	3,131		—		—		1,992		5,123		—		—		—
Warrants	1,269		—		—		808		2,077		—		—		—
STATinMED, LLC
First Lien Term Loan	—		9,472		(250)		(115)		9,107		—		719		—
Delayed Draw First Lien Term Loan	—		153		—		3		156		—		—		—
STATinMed Parent, LLC
Class A Preferred Units	—		6,182		—		(1,652)		4,530		—		—		—
Class B Preferred Units	—		3,193		—		(3,059)		134		—		—		—
Totals	$	81,490	$	106,737	$	(57,874)	$	13,523	$	143,876	$	(21,530)	$	12,069	$	79

(1)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, 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.

(2)Gross reductions include decreases in the cost basis of investments 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.

(3)Includes PIK interest income.

s.Investment determined to be a controlled investment as defined in the 1940 Act as the Company is deemed to exercise a controlling influence over the management or policies of the portfolio company due to beneficially owning, either directly or through one or more controlled companies, more than 25% of the outstanding voting securities of such portfolio company. Fair value as of December 31, 2021 and 2022, along with transactions during the year ended December 31, 2022 in these controlled investments, were as follows:

			Year Ended December 31, 2022								Year Ended December 31, 2022
Controlled Investments	Fair Value at December 31, 2021		Gross Additions (Cost)(1)		Gross Reductions (Cost)(2)		Net  Unrealized Gain (Loss)		Fair Value at December 31, 2022		Net Realized Gain (Loss)		Interest Income(3)		Dividend Income
CION/EagleTree Partners, LLC
Senior Secured Note	$	61,629	$	2,718	$	(3,999)	$	—	$	60,348	$	—	$	8,531	$	—
Participating Preferred Shares	29,796		—		—		970		30,766		—		—		1,275
Common Shares	—		—		—		—		—		—		—		—
Totals	$	91,425	$	2,718	$	(3,999)	$	970	$	91,114	$	—	$	8,531	$	1,275

(1)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, 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.

(2)Gross reductions include decreases in the cost basis of investments 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.

(3)Includes PIK interest income.

See accompanying notes to consolidated financial statements.

26

CĪON Investment Corporation

Consolidated Schedule of Investments

December 31, 2022

(in thousands)

t.As of December 31, 2022, the below investments contain a PIK interest provision whereby the issuer has either the option or the obligation to make interest payments with the issuance of additional securities. For certain investments, the borrower may toggle between cash and PIK interest payments.

		Interest Rate
Portfolio Company	Investment Type	Cash	PIK	All-in-Rate
Adapt Laser Acquisition, Inc.	Senior Secured First Lien Debt	14.76%	2.00%	16.76%
American Clinical Solutions LLC	Senior Secured First Lien Debt	7.00%	4.27%	11.27%
American Consolidated Natural Resources, Inc.	Senior Secured First Lien Debt	17.33%	3.00%	20.33%
Ancile Solutions, Inc.	Senior Secured First Lien Debt	11.75%	3.00%	14.75%
Anthem Sports & Entertainment Inc.	Senior Secured First Lien Debt	11.48%	2.75%	14.23%
Cadence Aerospace, LLC	Senior Secured First Lien Debt	10.92%	2.00%	12.92%
CION/EagleTree Partners, LLC	Senior Secured Note	—	14.00%	14.00%
David's Bridal, LLC	Senior Secured First Lien Debt	9.28%	5.00%	14.28%
David's Bridal, LLC	Senior Secured First Lien Debt	1.00%	9.42%	10.42%
Deluxe Entertainment Services, Inc.	Senior Secured First Lien Debt	9.73%	1.50%	11.23%
Fusion Connect Inc.	Senior Secured First Lien Debt	11.69%	1.00%	12.69%
GSC Technologies Inc.	Senior Secured First Lien Debt	—	9.12%	9.12%
GSC Technologies Inc.	Senior Secured First Lien Debt	9.37%	5.00%	14.37%
Hilliard, Martinez & Gonzales, LLP	Senior Secured First Lien Debt	—	16.24%	16.24%
Homer City Generation, L.P.	Senior Secured First Lien Debt	—	15.00%	15.00%
Independent Pet Partners Intermediate Holdings, LLC	Senior Secured First Lien Debt	—	6.00%	6.00%
Independent Pet Partners Intermediate Holdings, LLC	Senior Secured First Lien Debt	—	13.00%	13.00%
Independent Pet Partners Intermediate Holdings, LLC	Senior Secured First Lien Debt	—	11.26%	11.26%
Independent Pet Partners Intermediate Holdings, LLC	Senior Secured First Lien Debt	—	14.42%	14.42%
Instant Web, LLC	Senior Secured First Lien Debt	—	11.38%	11.38%
Lucky Bucks Holdings LLC	Unsecured Note	—	12.50%	12.50%
Robert C. Hilliard, L.L.P.	Senior Secured First Lien Debt	—	16.24%	16.24%
Rogers Mechanical Contractors, LLC	Senior Secured First Lien Debt	11.70%	1.00%	12.70%
Service Compression, LLC	Senior Secured First Lien Debt	12.83%	2.00%	14.83%
Spinal USA, Inc. / Precision Medical Inc.	Senior Secured First Lien Debt	—	13.24%	13.24%
STATinMED, LLC	Senior Secured First Lien Debt	—	13.80%	13.80%
STATinMED, LLC	Senior Secured First Lien Debt	—	13.94%	13.94%
Trademark Global, LLC	Senior Secured First Lien Debt	7.07%	4.50%	11.57%
Trammell, P.C.	Senior Secured First Lien Debt	—	19.94%	19.94%
Vesta Holdings, LLC	Senior Secured First Lien Debt	—	21.50%	21.50%
Williams Industrial Services Group, Inc.	Senior Secured First Lien Debt	10.00%	2.75%	12.75%
WPLM Acquisition Corp.	Unsecured Note	—	15.00%	15.00%

u.As of December 31, 2022, the index rate for $2,096 and $1,943 was 1 Month LIBOR and 3 Month LIBOR, respectively.

v.[Reserved]

w.The interest rate on these loans is subject to 1 month LIBOR, which as of December 31, 2022 was 4.39%.

x.The interest rate on these loans is subject to 3 month LIBOR, which as of December 31, 2022 was 4.77%.

y.The interest rate on these loans is subject to 6 month LIBOR, which as of December 31, 2022 was 5.14%.

z.The interest rate on these loans is subject to 1 month SOFR, which as of December 31, 2022 was 4.36%.

aa.The interest rate on these loans is subject to 3 month SOFR, which as of December 31, 2022 was 4.59%.

See accompanying notes to consolidated financial statements.

27

CĪON Investment Corporation

Notes to Consolidated Financial Statements (unaudited)

June 30, 2023

(in thousands, except share and per share amounts)

Note 1. Organization and Principal Business    

CĪON Investment Corporation, or the Company, was incorporated under the general corporation laws of the State of Maryland on August 9, 2011. On December 17, 2012, the Company successfully raised gross proceeds from unaffiliated outside investors of at least $2,500, or the minimum offering requirement, and commenced operations. The Company is an externally managed, non-diversified, closed-end management investment company that has elected to be regulated as a business development company, or BDC, under the 1940 Act. The Company elected to be treated for federal income tax purposes as a regulated investment company, or RIC, as defined under Subchapter M of the Internal Revenue Code of 1986, as amended, or the Code.

The Company’s investment objective is to generate current income and, to a lesser extent, capital appreciation for investors. The Company’s portfolio is comprised primarily of investments in senior secured debt, including first lien loans, second lien loans and unitranche loans, and, to a lesser extent, collateralized securities, structured products and other similar securities, unsecured debt, and equity, of private and thinly-traded U.S. middle-market companies.

The Company is managed by CION Investment Management, LLC, or CIM, a registered investment adviser and an affiliate of the Company. Pursuant to an investment advisory agreement with the Company, CIM oversees the management of the Company’s activities and is responsible for making investment decisions for the Company’s investment portfolio. On August 7, 2023, the board of directors of the Company, including a majority of the board of directors who are not interested persons, approved the renewal of the second amended and restated investment advisory agreement with CIM for a period of twelve months, commencing August 9, 2023. The Company and CIM previously engaged Apollo Investment Management, L.P., or AIM, a subsidiary of Apollo Global Management, Inc., or, together with its subsidiaries, Apollo, a leading global alternative investment manager, to act as the Company’s investment sub-adviser.

On July 11, 2017, the members of CIM entered into a third amended and restated limited liability company agreement of CIM, or the Third Amended CIM LLC Agreement, for the purpose of creating a joint venture between AIM and CION Investment Group, LLC, or CIG, an affiliate of the Company. Under the Third Amended CIM LLC Agreement, AIM became a member of CIM and was issued a newly-created class of membership interests in CIM pursuant to which AIM, among other things, shares in the profits, losses, distributions and expenses of CIM with the other members in accordance with the terms of the Third Amended CIM LLC Agreement, which results in CIG and AIM each owning a 50% economic interest in CIM.

On July 10, 2017, the Company’s independent directors unanimously approved the termination of the investment sub-advisory agreement with AIM, effective as of July 11, 2017. Although the investment sub-advisory agreement and AIM's engagement as the Company’s investment sub-adviser were terminated, AIM continues to perform certain services for CIM and the Company. AIM is not paid a separate fee in exchange for such services, but is entitled to receive distributions as a member of CIM as described above.

On December 4, 2017, the members of CIM entered into a fourth amended and restated limited liability company agreement of CIM, or the Fourth Amended CIM LLC Agreement, under which AIM performs certain services for CIM, which include, among other services, providing (a) trade and settlement support; (b) portfolio and cash reconciliation; (c) market pipeline information regarding syndicated deals, in each case, as reasonably requested by CIM; and (d) monthly valuation reports and support for all broker-quoted investments. AIM may also, from time to time, provide the Company with access to potential investment opportunities made available on Apollo's credit platform on a similar basis as other third-party market participants. All of the Company's investment decisions are the sole responsibility of, and are made at the sole discretion of, CIM's investment committee, which consists entirely of CIG senior personnel.

On October 5, 2021, the Company's shares of common stock commenced trading on the New York Stock Exchange, or the NYSE, under the ticker symbol "CION", or the Listing. As a result, on October 5, 2021, the Company and CIM entered into the second amended and restated investment advisory agreement in order to implement the changes to the advisory fees payable from the Company to CIM that became effective upon the Listing that (i) reduced the annual base management fee, (ii) amended the structure of the subordinated incentive fee on income payable by the Company to CIM and reduced the hurdle and incentive fee rates, and (iii) reduced the incentive fee on capital gains payable by the Company to CIM (as described in further detail in Notes 2 and 4). On February 26, 2023, the Company’s shares of common stock also listed and commenced trading on the Tel Aviv Stock Exchange Ltd., or the TASE, under the ticker symbol “CION”.

28

CĪON Investment Corporation

Notes to Consolidated Financial Statements (unaudited)

June 30, 2023

(in thousands, except share and per share amounts)

Note 2. Summary of Significant Accounting Policies

Basis of Presentation and Consolidation

The accompanying unaudited consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles, or GAAP, for interim financial information and pursuant to the instructions for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. For a more complete discussion of significant accounting policies and certain other information, the Company’s interim unaudited consolidated financial statements should be read in conjunction with its audited consolidated financial statements as of December 31, 2022 and for the year then ended included in the Company’s Annual Report on Form 10-K. Operating results for interim periods are not necessarily indicative of the results that may be expected for the full year ending December 31, 2023. The consolidated balance sheet and the consolidated schedule of investments as of December 31, 2022 and the consolidated statements of operations, changes in net assets, and cash flows for the year ended December 31, 2022 are derived from the 2022 audited consolidated financial statements and include the accounts of the Company’s wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The Company does not consolidate its equity interest in CION/EagleTree Partners, LLC, or CION/EagleTree. See Note 7 for a description of the Company’s investment in CION/EagleTree.

The Company evaluates subsequent events through the date that the consolidated financial statements are issued.

Recently Announced Accounting Pronouncements

In June 2022, the Financial Accounting Standards Board, or the FASB, issued ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions, or ASU 2022-03, which clarifies the guidance when measuring the fair value of an equity security subject to contractual restrictions that prohibit the sale of an equity security and introduces new disclosure requirements for equity securities subject to contractual sale restrictions that are measured at fair value in accordance with Topic 820. ASU 2022-03 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2023. The Company is evaluating the potential impact that the adoption of this guidance will have on the Company’s consolidated financial statements.

In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, or ASU 2020-04, which provides optional expedients and exceptions for applying GAAP to contract modifications, hedging relationships and other transactions, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued because of the reference rate reform. ASU 2020-04 is effective for all entities as of March 12, 2020 through December 31, 2022. The expedients and exceptions provided by this guidance do not apply to contract modifications and hedging relationships entered into or evaluated after December 31, 2022. In December 2022, the FASB issued ASU No. 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848, which deferred the sunset date of this guidance to December 31, 2024. The Company is evaluating the potential impact that the adoption of this guidance will have on the Company’s consolidated financial statements.

Cash and Cash Equivalents

Cash and cash equivalents include cash in banks and highly liquid investments with original maturity dates of three months or less. The Company’s cash and cash equivalents are held principally at one financial institution and at times may exceed insured limits. The Company periodically evaluates the creditworthiness of this institution and has not experienced any losses on such deposits.

29

CĪON Investment Corporation

Notes to Consolidated Financial Statements (unaudited)

June 30, 2023

(in thousands, except share and per share amounts)

Foreign Currency Translations

The accounting records of the Company are maintained in U.S. dollars. All assets and liabilities denominated in foreign currencies are translated into U.S. dollars based on the foreign exchange rate on the date of valuation. The Company does 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 market prices of securities held. Changes in the relationship of foreign currencies to the U.S. dollar can significantly affect the value of these investments and therefore the earnings of the Company.

Short Term Investments

Short term investments include an investment in a U.S. Treasury obligations fund, which seeks to provide current income and daily liquidity by purchasing U.S. Treasury securities and repurchase agreements that are collateralized by such securities. The Company had $100,771 and $10,869 of such investments at June 30, 2023 and December 31, 2022, respectively, which are included in investments, at fair value on the accompanying consolidated balance sheets and on the consolidated schedules of investments.

Income Taxes

The Company elected to be treated for federal income tax purposes as a RIC under Subchapter M of the Code. To qualify and maintain qualification as a RIC, the Company must, among other things, meet certain source of income and asset diversification requirements and distribute to shareholders, for each taxable year, at least 90% of the Company’s “investment company taxable income”, which is generally equal to the sum of the Company’s net ordinary income plus the excess, if any, of realized net short-term capital gains over realized net long-term capital losses. If the Company continues to qualify as a RIC and continues to satisfy the annual distribution requirement, the Company will not be subject to corporate level federal income taxes on any income that the Company distributes to its shareholders. The Company intends to make distributions in an amount sufficient to maintain RIC status each year and to avoid any federal income taxes on income. The Company will also be subject to nondeductible federal excise taxes if the Company does not distribute at least 98.0% of net ordinary income, 98.2% of capital gains, if any, and any recognized and undistributed income from prior years for which it paid no federal income taxes. 

Two of the Company’s wholly-owned consolidated subsidiaries, View ITC, LLC and View Rise, LLC, or collectively the Taxable Subsidiaries, have elected to be treated as taxable entities for U.S. federal income tax purposes. As a result, the Taxable Subsidiaries are not consolidated with the Company for income tax purposes and may generate income tax expense or benefit, and the related tax assets and liabilities, as a result of their ownership of certain portfolio investments. The income tax expense or benefit, if any, and the related tax assets and liabilities, where material, are reflected in the Company’s consolidated financial statements. There were no deferred tax assets or liabilities as of June 30, 2023 or December 31, 2022.

Book/tax differences relating to permanent differences are reclassified among the Company’s capital accounts, as appropriate. Additionally, the tax character of distributions is determined in accordance with income tax regulations that may differ from GAAP (see Note 5).

Uncertainty in Income Taxes

The Company evaluates its tax positions to determine if the tax positions taken meet the minimum recognition threshold for the purposes of measuring and recognizing tax liabilities in the consolidated financial statements. Recognition of a tax benefit or liability with respect to an uncertain tax position is required only when the position is “more likely than not” to be sustained assuming examination by the taxing authorities. The Company recognizes interest and penalties, if any, related to unrecognized tax benefits as income tax expense in the consolidated statements of operations. The Company did not have any uncertain tax positions during the periods presented herein. 

The Company is subject to examination by U.S. federal, New York State, New York City and Maryland income tax jurisdictions for 2019, 2020 and 2021.

30

CĪON Investment Corporation

Notes to Consolidated Financial Statements (unaudited)

June 30, 2023

(in thousands, except share and per share amounts)

Use of Estimates

The preparation of the consolidated financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period.

Actual results may materially differ from those estimates.

Valuation of Portfolio Investments

The fair value of the Company’s investments is determined quarterly in good faith by the Company’s board of directors pursuant to its consistently applied valuation procedures and valuation process in accordance with Accounting Standards Codification Topic 820, Fair Value Measurements and Disclosure, or ASC 820. In accordance with Rule 2a-5 of the 1940 Act, the Company’s board of directors has designated CIM as the Company’s “valuation designee.” The Company’s board of directors and the audit committee of the board of directors, the latter of which is comprised solely of independent directors, oversees the activities, methodology and processes of the valuation designee. ASC 820 defines fair value as the price that would be received from the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820 also establishes a three-tier fair value hierarchy that prioritizes and ranks the level of market price observability of inputs used in measuring investments at fair value. Inputs used to measure these fair values are classified into the following hierarchy:

Level 1 -Quoted prices in active markets for identical assets or liabilities, accessible by the Company at the measurement date.

Level 2 -Quoted prices for similar assets or liabilities in active markets, or quoted prices for identical or similar assets or liabilities in markets that are not active, or other observable inputs other than quoted prices.

Level 3 -Unobservable inputs for the asset or liability. The inputs used in the determination of fair value may require significant management judgment or estimation. Such information may be the result of consensus pricing information or broker quotes that include a disclaimer that the broker would not be held to such a price in an actual transaction. The non-binding nature of consensus pricing and/or quotes accompanied by the disclaimer would result in classification as a Level 3 asset, assuming no additional corroborating evidence.

Market price observability is affected by a number of factors, including the type of investment and the characteristics specific to the investment. Investments with readily available active quoted prices or for which fair value can be measured from actively quoted prices generally will have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value.

Based on the observability of the inputs used in the valuation techniques, the Company is required to provide disclosures on fair value measurements according to the fair value hierarchy. The level in the fair value hierarchy for each fair value measurement has been determined based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to each investment. The level assigned to the investment valuations may not be indicative of the risk or liquidity associated with investing in such investments. Because of the inherent uncertainties of valuation, the values reflected in the consolidated financial statements may differ materially from the value that would be received upon an actual sale of such investments. In addition, changes in the market environment and other events that may occur over the life of the investments may cause the gains or losses that the Company ultimately realizes on these investments to materially differ from the valuations currently assigned.

31

CĪON Investment Corporation

Notes to Consolidated Financial Statements (unaudited)

June 30, 2023

(in thousands, except share and per share amounts)

A portion of the Company’s investments consist of debt securities that are traded on a private over-the-counter market for institutional investments. CIM attempts to obtain market quotations from at least two brokers or dealers for each investment (if available, otherwise from a principal market maker or a primary market dealer or other independent pricing service). CIM typically uses the average midpoint of the broker bid/ask price to determine fair value unless a different point within the range is more representative. Because of the private nature of this marketplace (meaning actual transactions are not publicly reported) and the non-binding nature of consensus pricing and/or quotes, the Company believes that these valuation inputs result in Level 3 classification within the fair value hierarchy. As these quotes are only indicative of fair value, CIM benchmarks the implied fair value yield and leverage against what has been observed in the market. If the implied fair value yield and leverage fall within the range of CIM's market pricing matrix, the quotes are deemed to be reliable and used to determine the investment's fair value.

Notwithstanding the foregoing, if in the reasonable judgment of CIM, the price of any investment held by the Company and determined in the manner described above does not accurately reflect the fair value of such investment, CIM will value such investment at a price that reflects such investment’s fair value and report such change in the valuation to the board of directors or its designee as soon as practicable. Investments that carry certain restrictions on sale will typically be valued at a discount from the public market value of the investment.

Any investments that are not publicly traded or for which a market price is not otherwise readily available are valued at a price that reflects its fair value. With respect to such investments, if CIM is unable to obtain market quotations, the investments are reviewed and valued using one or more of the following types of analyses:

i.Market comparable statistics and public trading multiples discounted for illiquidity, minority ownership and other factors for companies with similar characteristics.

ii.Valuations implied by third-party investments in the applicable portfolio companies.

iii.A benchmarking analysis to compare implied fair value and leverage to comparable market investments.

iv.Discounted cash flow analysis, including a terminal value or exit multiple.

Determination of fair value involves subjective judgments and estimates. Accordingly, these notes to the Company’s consolidated financial statements refer to the uncertainty with respect to the possible effect of such valuations, and any change in such valuations, on the Company’s consolidated financial statements. Below is a description of factors that CIM may consider when valuing the Company’s equity and debt investments where a market price is not readily available:

•the size and scope of a portfolio company and its specific strengths and weaknesses;

•prevailing interest rates for like securities;

•expected volatility in future interest rates;

•leverage; 

•call features, put features, fees and other relevant terms of the debt;

•the borrower’s ability to adequately service its debt;

•the fair market value of the portfolio company in relation to the face amount of its outstanding debt;

•the quality of collateral securing the Company’s debt investments;

•multiples of earnings before interest, taxes, depreciation and amortization, or EBITDA, cash flows, net income, revenues or, in some cases, book value or liquidation value; and

•other factors deemed applicable.

All of these factors may be subject to adjustment based upon the particular circumstances of a portfolio company or the Company’s actual investment position. For example, adjustments to EBITDA may take into account compensation to previous owners, or acquisition, recapitalization, and restructuring expenses or other related or non-recurring items. The choice of analyses and the weight assigned to such factors may vary across investments and may change within an investment if events occur that warrant such a change.

When CIM uses the discounted cash flow model to value the Company's investments, such model deemed appropriate by CIM is prepared for the applicable investments and reviewed by designated members of CIM’s management team. Such models are prepared at least quarterly or on an as needed basis. The model uses the estimated cash flow projections for the underlying investments and an appropriate discount rate is determined based on the latest financial information available for the borrower, prevailing market trends, comparable analysis and other inputs. The model, key assumptions, inputs, and results are reviewed by designated members of CIM’s management team with final approval from the board of directors or its designee.

32

CĪON Investment Corporation

Notes to Consolidated Financial Statements (unaudited)

June 30, 2023

(in thousands, except share and per share amounts)

Consistent with the Company’s valuation policy, the Company evaluates the source of inputs, including any markets in which the Company’s investments are trading, in determining fair value.

The Company periodically benchmarks the broker quotes from the brokers or dealers against the actual prices at which the Company purchases and sells its investments. Based on the results of the benchmark analysis and the experience of the Company’s management in purchasing and selling these investments, the Company believes that these quotes are reliable indicators of fair value. The Company may also use other methods to determine fair value for securities for which it cannot obtain market quotations through brokers or dealers, including the use of an independent valuation firm. Designated members of CIM’s management team and the Company's board of directors or its designee review and approve the valuation determinations made with respect to these investments in a manner consistent with the Company’s valuation process.

As a practical expedient, the Company uses net asset value, or NAV, as the fair value for its equity investment in CION/EagleTree. CION/EagleTree records its underlying investments at fair value on a quarterly basis in accordance with ASC 820.

Revenue Recognition

Securities transactions are accounted for on the trade date. The Company records interest and dividend income on an accrual basis beginning on the trade settlement date or the ex-dividend date, respectively, to the extent that the Company expects to collect such amounts.  For investments in equity tranches of collateralized loan obligations, the Company records income based on the effective interest rate determined using the amortized cost and estimated cash flows, which is updated periodically. Loan origination fees, original issue discounts, or OID, and market discounts/premiums are recorded and such amounts are amortized as adjustments to interest income over the respective term of the loan using the effective interest rate method. Upon the prepayment of a loan or security, prepayment premiums, any unamortized loan origination fees, OID, or market discounts/premiums are recorded as interest income.

The Company may have investments in its investment portfolio that contain a PIK interest provision. PIK interest is accrued as interest income if the portfolio company valuation indicates that such PIK interest is collectible and recorded as interest receivable up to the interest payment date. On the interest payment dates, the Company will capitalize the accrued interest receivable attributable to PIK as additional principal due from the borrower. Additional PIK securities typically have the same terms, including maturity dates and interest rates, as the original securities. In order to maintain RIC status, substantially all of this income must be paid out to shareholders in the form of distributions, even if the Company has not collected any cash. For additional information on investments that contain a PIK interest provision, see the consolidated schedules of investments as of June 30, 2023 and December 31, 2022.

Loans and debt securities, including those that are individually identified as being impaired under Accounting Standards Codification 310, Receivables, or ASC 310, are generally placed on non-accrual status immediately if, in the opinion of management, principal or interest is not likely to be paid, or when principal or interest is past due 90 days or more. Interest accrued but not collected at the date a loan or security is placed on non-accrual status is reversed against interest income. Interest income is recognized on non-accrual loans or debt securities only to the extent received in cash. However, where there is doubt regarding the ultimate collectability of principal, cash receipts, whether designated as principal or interest, are thereafter applied to reduce the carrying value of the loan or debt security. Loans or securities are restored to accrual status only when interest and principal payments are brought current and future payments are reasonably assured.

Dividend income on preferred equity securities is recorded on an accrual basis to the extent that such amounts are payable by the portfolio company and are expected to be collected. Dividend income on common equity securities is recorded on the record date for private portfolio companies or on the ex-dividend date for publicly-traded portfolio companies.

The Company may receive fees for capital structuring services that are fixed based on contractual terms, are normally paid at the closing of the investment, are generally non-recurring and non-refundable and are recognized as revenue when earned upon closing of the investment. The services that CIM provides vary by investment, but generally include reviewing existing credit facilities, arranging bank financing, arranging equity financing, structuring financing from multiple lenders, structuring financing from multiple equity investors, restructuring existing loans, raising equity and debt capital, and providing general financial advice, which concludes upon closing of the investment. In certain instances where the Company is invited to participate as a co-lender in a transaction and does not provide significant services in connection with the investment, a portion of loan fees paid to the Company in such situations will be deferred and amortized over the estimated life of the loan as interest income.

Other income includes amendment fees that are fixed based on contractual terms and are generally non-recurring and non-refundable and are recognized as revenue when earned upon closing of the transaction. Other income also includes fees for managerial assistance and other consulting services, loan guarantees, commitments, and other services rendered by the Company to its portfolio companies. Such fees are fixed based on contractual terms and are recognized as fee income when earned.

33

CĪON Investment Corporation

Notes to Consolidated Financial Statements (unaudited)

June 30, 2023

(in thousands, except share and per share amounts)

Net Realized Gains or Losses and Net Change in Unrealized Appreciation or Depreciation

Gains or losses on the sale of investments are calculated by using the weighted-average method. The Company measures realized gains or losses by the difference between the net proceeds from the sale and the weighted-average amortized cost of the investment, without regard to unrealized appreciation or depreciation previously recognized, but considering unamortized upfront fees. Net change in unrealized appreciation or depreciation reflects the change in portfolio investment values during the reporting period, including any reversal of previously recorded unrealized appreciation or depreciation when gains or losses are realized.

Capital Gains Incentive Fee

Pursuant to the terms of the investment advisory agreement the Company entered into with CIM, the incentive fee on capital gains earned on liquidated investments of the Company’s investment portfolio during operations is determined and payable in arrears as of the end of each calendar year. Prior to October 5, 2021 and under the investment advisory agreement, such fee equaled 20% of the Company’s incentive fee capital gains (i.e., the Company’s realized capital gains on a cumulative basis from inception, calculated as of the end of each calendar year, computed net of all realized capital losses and unrealized capital depreciation on a cumulative basis), less the aggregate amount of any previously paid capital gains incentive fees. Pursuant to the second amended and restated investment advisory agreement, the incentive fee on capital gains was reduced to 17.5%, which became effective on October 5, 2021.

On a cumulative basis and to the extent that all realized capital losses and unrealized capital depreciation exceed realized capital gains as well as the aggregate realized net capital gains for which a fee has previously been paid, the Company would not be required to pay CIM a capital gains incentive fee. On a quarterly basis, the Company accrues for the capital gains incentive fee by calculating such fee as if it were due and payable as of the end of such period.

While the investment advisory agreement with CIM neither includes nor contemplates the inclusion of unrealized gains in the calculation of the capital gains incentive fee, pursuant to an interpretation of the American Institute for Certified Public Accountants, or AICPA, Technical Practice Aid for investment companies, the Company accrues capital gains incentive fees on unrealized gains. This accrual reflects the incentive fees that would be payable to CIM if the Company’s entire investment portfolio was liquidated at its fair value as of the balance sheet date even though CIM is not entitled to an incentive fee with respect to unrealized gains unless and until such gains are actually realized.

Net (Decrease) Increase in Net Assets per Share

Net (decrease) increase in net assets per share is calculated based upon the daily weighted average number of shares of common stock outstanding during the reporting period.

Distributions

Distributions to shareholders are recorded as of the record date. The amount paid as a distribution is declared by the Company's co-chief executive officers and ratified by the board of directors on a quarterly basis. Net realized capital gains, if any, are distributed at least annually.

Note 3. Share Transactions

The Company’s initial continuous public offering commenced on July 2, 2012 and ended on December 31, 2015. The Company’s follow-on continuous public offering commenced on January 25, 2016 and ended on January 25, 2019.

The following table summarizes transactions with respect to shares of the Company’s outstanding common stock during the six months ended June 30, 2023 and 2022 and the year ended December 31, 2022:

	Six Months Ended June 30,						Year Ended December 31,
	2023			2022			2022
	Shares	Amount		Shares	Amount		Shares	Amount
Gross shares/proceeds from the offering	—	$	—	—	$	—	—	$	—
Reinvestment of distributions	—	—		—	—		—	—
Total gross shares/proceeds	—	—		—	—		—	—
Share repurchase program	(666,657)	(6,818)		—	—		(1,658,956)	(15,444)
Net shares/proceeds from share transactions	(666,657)	$	(6,818)	—	$	—	(1,658,956)	$	(15,444)

34

CĪON Investment Corporation

Notes to Consolidated Financial Statements (unaudited)

June 30, 2023

(in thousands, except share and per share amounts)

Since commencing its initial continuous public offering on July 2, 2012 and through June 30, 2023, the Company sold 54,632,827 shares of common stock for net proceeds of $1,138,045. The net proceeds include gross proceeds received from reinvested shareholder distributions of $237,451, for which the Company issued 13,523,489 shares of common stock, and gross proceeds paid for shares of common stock repurchased of $254,692, for which the Company repurchased 15,636,540 shares of common stock. As of June 30, 2023, 15,623,796 shares of common stock repurchased had been retired.

On September 15, 2022, the Company's shareholders approved a proposal that authorizes the Company to issue shares of its common stock at prices below the then current NAV per share of the Company’s common stock in one or more offerings for a 12-month period following such shareholder approval. As of June 30, 2023, the Company had not issued any such shares.

Distribution Reinvestment Plan

In connection with the Listing of its shares of common stock on the NYSE, on September 15, 2021, the Company terminated its previous fifth amended and restated distribution reinvestment plan, or the Old DRP. The final distribution reinvestment under the Old DRP was made as part of the regular monthly distribution paid on September 14, 2021 to shareholders of record as of September 13, 2021. On September 15, 2021, the Company adopted a new distribution reinvestment plan, or the New DRP, which became effective as of the Listing, and first applied to the reinvestment of distributions paid after October 5, 2021. For additional information regarding the terms of the New DRP, see Note 5.

Reverse Stock Split

Effective on September 21, 2021, every two shares of the Company's common stock then issued and outstanding were automatically combined into one share of the Company's common stock, with the number of then issued and outstanding shares reduced from 113,916,869 to 56,958,440. The reverse stock split amendment also provided that there was no change in the par value of $0.001 per share as a result of the reverse stock split. In addition, the reverse stock split did not modify the rights or preferences of the Company’s common stock.

Listing and Fractional Shares

On October 5, 2021, the Company's shares of common stock commenced trading on the NYSE under the ticker symbol “CION”. As approved by shareholders on September 7, 2021, the Listing was staggered such that (i) up to 1/3rd of shares held by all shareholders were available for trading upon Listing, (ii) up to 2/3rd of shares held by all shareholders were available for trading starting 180 days after Listing, or April 4, 2022, and (iii) all shares were available for trading starting 270 days after Listing, or July 5, 2022. The Company eliminated all then outstanding fractional shares of its common stock in connection with the Listing, as permitted by the Maryland General Corporation Law, on July 14, 2022. On February 26, 2023, the Company’s shares of common stock also listed and commenced trading on the TASE under the ticker symbol “CION”.

Pre-Listing Share Repurchase Program

Historically, the Company offered to repurchase shares on a quarterly basis on such terms as determined by the Company’s board of directors in its complete and absolute discretion unless, in the judgment of the independent directors of the Company’s board of directors, such repurchases would not have been in the best interests of the Company’s shareholders or would have violated applicable law.

On July 30, 2021, the Company's board of directors, including the independent directors, determined to suspend the Company's share repurchase program commencing with the third quarter of 2021 in anticipation of the Listing and the concurrent enhanced liquidity the Listing was expected to provide. The share repurchase program ultimately terminated upon the Listing and the Company does not expect to implement a new quarterly share repurchase program in the future.

Historically, the Company generally limited the number of shares to be repurchased during any calendar year to the number of shares it could have repurchased with the proceeds it received from the issuance of shares pursuant to the Old DRP. At the discretion of the Company’s board of directors, it could have also used cash on hand, cash available from borrowings and cash from liquidation of investments as of the end of the applicable period to repurchase shares. The Company offered to repurchase such shares at a price equal to the estimated net asset value per share on each date of repurchase.

Any periodic repurchase offers were subject in part to the Company’s available cash and compliance with the BDC and RIC qualification and diversification rules promulgated under the 1940 Act and the Code, respectively.

35

CĪON Investment Corporation

Notes to Consolidated Financial Statements (unaudited)

June 30, 2023

(in thousands, except share and per share amounts)

Post-Listing Share Repurchase Policy

On September 15, 2021, the Company’s board of directors, including the independent directors, approved a share repurchase policy authorizing the Company to repurchase up to $50 million of its outstanding common stock after the Listing. On June 24, 2022, the Company’s board of directors, including the independent directors, increased the amount of shares of the Company’s common stock that may be repurchased under the share repurchase policy by $10 million to up to an aggregate of $60 million. Under the share repurchase policy, the Company may purchase shares of its common stock through various means such as open market transactions, including block purchases, and privately negotiated transactions. The number of shares repurchased and the timing, manner, price and amount of any repurchases will be determined at the Company's discretion. Factors include, but are not limited to, share price, trading volume and general market conditions, along with the Company’s general business conditions. The policy may be suspended or discontinued at any time and does not obligate the Company to acquire any specific number of shares of its common stock.

On August 16, 2022, as part of the share repurchase policy, the Company entered into a trading plan with an independent broker, Wells Fargo Securities, LLC, or Wells Fargo, in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, based in part on historical trading data with respect to the Company’s shares. The 10b5-1 trading plan permits common stock to be repurchased at a time that the Company might otherwise be precluded from doing so under insider trading laws or self-imposed trading restrictions. The 10b5-1 trading plan is subject to price, market volume and timing restrictions.

The following table summarizes the share repurchases completed during the year ended December 31, 2022 and the six months ended June 30, 2023:

Three Months Ended	Repurchase Date	Shares Repurchased	Percentage of Shares Tendered That Were Repurchased	Repurchase Price Per Share		Aggregate Consideration for Repurchased Shares
2022
March 31, 2022	N/A	—	N/A	N/A		$	—
June 30, 2022	N/A	—	N/A	N/A		—
September 30, 2022	N/A	695,476	N/A	$	9.65	6,711
December 31, 2022	N/A	963,480	N/A	9.06		8,733
Total for the year ended December 31, 2022		1,658,956				$	15,444
2023
March 31, 2023	N/A	338,029	N/A	$	10.63	$	3,592
June 30, 2023	N/A	328,628	N/A	9.81		3,226
Total for the six months ended June 30, 2023		666,657				$	6,818

From July 1, 2023 to August 2, 2023, the Company repurchased 57,691 shares of common stock under the 10b5-1 trading plan for an aggregate purchase price of $621, or an average purchase price of $10.76 per share. As of August 2, 2023, 15,690,588 shares of common stock repurchased by the Company had been retired.

36

CĪON Investment Corporation

Notes to Consolidated Financial Statements (unaudited)

June 30, 2023

(in thousands, except share and per share amounts)

Note 4. Transactions with Related Parties

For the three and six months ended June 30, 2023 and 2022 and the year ended December 31, 2022, fees and other expenses incurred by the Company related to CIM and its affiliates were as follows:

			Three Months Ended June 30,				Six Months Ended June 30,				Year Ended December 31,
Entity	Capacity	Description	2023		2022		2023		2022		2022
CIM	Investment adviser	Management fees(1)	$	6,546	$	6,839	$	13,222	$	13,494	$	27,361
CIM	Investment adviser	Incentive fees(1)	4,965		4,091		11,300		8,224		18,710
CIM	Administrative services provider	Administrative services expense(1)	910		781		1,747		1,501		3,348
			$	12,421	$	11,711	$	26,269	$	23,219	$	49,419

(1)Amounts charged directly to operations.

The Company has entered into an investment advisory agreement with CIM. On August 7, 2023, the board of directors of the Company, including a majority of the board of directors who are not interested persons, approved the renewal of the second amended and restated investment advisory agreement with CIM for a period of twelve months, commencing August 9, 2023. Pursuant to the investment advisory agreement in effect prior to the Listing, CIM was paid an annual base management fee equal to 2.0% of the average value of the Company’s gross assets, less cash and cash equivalents, and an incentive fee based on the Company’s performance, as described below. Pursuant to the second amended and restated investment advisory agreement, which was effective upon the Listing on October 5, 2021, the annual base management fee was reduced to 1.5% of the average value of the Company’s gross assets (including cash pledged as collateral for the Company’s secured financing arrangements, but excluding other cash and cash equivalents so that investors do not pay the base management fee on such assets), to the extent that the Company’s asset coverage ratio is greater than or equal to 200% (i.e., $1 of debt outstanding for each $1 of equity); provided that, the annual base management fee will be reduced further to 1.0% for any such gross assets purchased with leverage resulting in the Company’s asset coverage ratio dropping below 200%. On December 30, 2021, shareholders approved a proposal to reduce the Company’s asset coverage ratio to 150%. As a result, commencing on December 31, 2021, the Company is required to maintain asset coverage for its senior securities of 150% (i.e., $2 of debt outstanding for each $1 of equity) rather than 200%. The base management fee is payable quarterly in arrears and is calculated based on the two most recently completed calendar quarters.

The incentive fee consists of two parts. The first part, which is referred to as the subordinated incentive fee on income, is calculated and payable quarterly in arrears based on “pre-incentive fee net investment income” for the immediately preceding quarter and was subject to a hurdle rate, measured quarterly and expressed as a rate of return on adjusted capital, as defined in the investment advisory agreement in effect prior to the Listing, equal to 1.875% per quarter, or an annualized rate of 7.5%. Under the investment advisory agreement in effect prior to the Listing, the Company paid to CIM 100% of pre-incentive fee net investment income once the hurdle rate was exceeded until the annualized rate of 9.375% was exceeded, at which point the Company paid to CIM 20% of all pre-incentive fee net investment income that exceeded the annualized rate of 9.375%. Under the amended and restated investment advisory agreement also in effect prior to the Listing, the change to the calculation of the subordinated incentive fee payable to CIM that expresses the hurdle rate required for CIM to earn, and be paid, the incentive fee as a percentage of the Company's net assets rather than adjusted capital was implemented. Under the second amended and restated investment advisory agreement, the hurdle rate was reduced to 1.625% per quarter, or an annualized rate of 6.5%, and the Company pays to CIM 100% of pre-incentive fee net investment income once the hurdle rate is exceeded until the annualized rate of 7.879% is exceeded, at which point the Company pays to CIM 17.5% of all pre-incentive fee net investment income. These changes to the subordinated incentive fee on income were effective upon the Listing, except for the change to the calculation of the subordinated incentive fee payable to CIM that replaced adjusted capital with the Company's net assets, which was effective on August 10, 2021. For the three months ended June 30, 2023 and 2022, the Company recorded subordinated incentive fees on income of $4,965 and $4,091, respectively. For the six months ended June 30, 2023 and 2022, the Company recorded subordinated incentive fees on income of $11,300 and $8,224, respectively. As of June 30, 2023 and December 31, 2022, the liabilities recorded for subordinated incentive fees were $4,967 and $5,065, respectively. The second part of the incentive fee, which is referred to as the capital gains incentive fee, is described in Note 2.

The Company accrues the capital gains incentive fee based on net realized gains and net unrealized appreciation; however, under the terms of the investment advisory agreement, the fee payable to CIM is based on net realized gains and unrealized depreciation and no such fee is payable with respect to unrealized appreciation unless and until such appreciation is actually realized. For the three and six months ended June 30, 2023 and 2022 and the year ended December 31, 2022, the Company had no liability for and did not record any capital gains incentive fees.

37

CĪON Investment Corporation

Notes to Consolidated Financial Statements (unaudited)

June 30, 2023

(in thousands, except share and per share amounts)

On April 1, 2018, the Company entered into an administration agreement with CIM pursuant to which CIM furnishes the Company with administrative services including accounting, investor relations and other administrative services necessary to conduct its day-to-day operations. CIM is reimbursed for administrative expenses it incurs on the Company’s behalf in performing its obligations, provided that such reimbursement is for the lower of CIM’s actual costs or the amount that the Company would have been required to pay for comparable administrative services in the same geographic location. Such costs are reasonably allocated to the Company on the basis of assets, revenues, time records or other reasonable methods. The Company does not reimburse CIM for any services for which it receives a separate fee or for rent, depreciation, utilities, capital equipment or other administrative items allocated to a person with a controlling interest in CIM. On November 8, 2022, the board of directors of the Company, including a majority of the board of directors who are not interested persons, approved the renewal of the administration agreement with CIM for a period of twelve months commencing December 17, 2022.

On January 30, 2013, the Company entered into the expense support and conditional reimbursement agreement with CIG, whereby CIG agreed to provide expense support to the Company in an amount that was sufficient to: (1) ensure that no portion of the Company’s distributions to shareholders was paid from its offering proceeds or borrowings, and/or (2) reduce the Company’s operating expenses until it achieved economies of scale sufficient to ensure that the Company bore a reasonable level of expense in relation to its investment income. On December 16, 2015, the Company further amended and restated the expense support and conditional reimbursement agreement for purposes of including AIM as a party to the agreement. On January 2, 2018, the Company entered into an expense support and conditional reimbursement agreement with CIM for purposes of, among other things, replacing CIG and AIM with CIM as the expense support provider pursuant to the terms of the expense support and conditional reimbursement agreement.

Pursuant to the expense support and conditional reimbursement agreement, the Company had a conditional obligation to reimburse CIM for any amounts funded by CIM under such agreement (i) if expense support amounts funded by CIM exceeded operating expenses incurred during any fiscal quarter, (ii) if the sum of the Company’s net investment income for tax purposes, net capital gains and the amount of any dividends and other distributions paid to the Company on account of investments in portfolio companies (to the extent not included in net investment income or net capital gains for tax purposes) exceeded the distributions paid by the Company to shareholders, and (iii) during any fiscal quarter that occurred within three years of the date on which CIM funded such amount. The obligation to reimburse CIM for any expense support provided by CIM under such agreement was further conditioned by the following: (i) in the period in which reimbursement was sought, the ratio of operating expenses to average net assets, when considering the reimbursement, could not have exceeded the ratio of operating expenses to average net assets, as defined, for the period when the expense support was provided; (ii) in the period when reimbursement was sought, the annualized distribution rate could not have fallen below the annualized distribution rate for the period when the expense support was provided; and (iii) the expense support could have only been reimbursed within three years from the date the expense support was provided.

Expense support, if any, was determined as appropriate to meet the objectives of the expense support and conditional reimbursement agreement. On December 31, 2021, the Company and CIM allowed the expense support and conditional reimbursement agreement to expire in accordance with its terms. There was no unreimbursed expense support funded by CIM upon such expiration. The specific amount of expense support provided by CIM, if any, was determined at the end of each quarter. See Note 5 for additional information on the sources of the Company’s distributions. The Company did not record any obligation to repay expense support from CIM and the Company did not repay any expense support to CIM during the three and six months ended June 30, 2023 and 2022 or the year ended December 31, 2022.

As of June 30, 2023 and December 31, 2022, the total liability payable to CIM and its affiliates was $12,087 and $13,692, respectively, which primarily related to fees earned by CIM during the three months ended June 30, 2023 and December 31, 2022, respectively.

In the event that CIM undertakes to provide investment advisory services to other clients in the future, it will strive to allocate investment opportunities in a fair and equitable manner consistent with the Company’s investment objective and strategies so that the Company will not be disadvantaged in relation to any other client of the investment adviser or its senior management team. However, it is currently possible that some investment opportunities will be provided to other clients of CIM rather than to the Company.

Indemnifications

The investment advisory agreement, the administration agreement and the dealer manager agreement each provide certain indemnifications from the Company to the other relevant parties to such agreements. The Company’s maximum exposure under these agreements is unknown. However, the Company has not experienced claims or losses pursuant to these agreements and believes the risk of loss related to such indemnifications to be remote.

38

CĪON Investment Corporation

Notes to Consolidated Financial Statements (unaudited)

June 30, 2023

(in thousands, except share and per share amounts)

Note 5. Distributions

From February 1, 2014 through July 17, 2017, the Company’s board of directors authorized and declared on a monthly basis a weekly distribution amount per share of common stock. On July 18, 2017, the Company's board of directors authorized and declared on a quarterly basis a weekly distribution amount per share of common stock. Effective September 28, 2017, the Company's board of directors delegated to management the authority to determine the amount, record dates, payment dates and other terms of distributions to shareholders, which will be ratified by the board of directors, each on a quarterly basis. Beginning on March 19, 2020, management changed the timing of declaring distributions from quarterly to monthly and temporarily suspended the payment of distributions to shareholders commencing with the month ended April 30, 2020, whether in cash or pursuant to the Old DRP. On July 15, 2020, the board of directors determined to recommence the payment of distributions to shareholders in August 2020. On September 15, 2021, management changed the timing of declaring and paying regular distributions to shareholders from monthly to quarterly commencing with the fourth quarter of 2021. Distributions in respect of future quarters will be evaluated by management and the board of directors based on circumstances and expectations existing at the time of consideration. Declared distributions are paid quarterly.

The Company’s board of directors ratified distributions for 5 and 2 record dates during the year ended December 31, 2022 and the six months ended June 30, 2023, respectively.

The following table presents distributions per share that were declared during the year ended December 31, 2022 and the six months ended June 30, 2023:

	Distributions
Three Months Ended	Per Share		Amount
2022
March 31, 2022 (one record date)	$	0.2800	$	15,948
June 30, 2022 (one record date)	0.2800		15,949
September 30, 2022 (one record date)	0.3100		17,604
December 31, 2022 (two record dates)	0.5800		32,074
Total distributions for the year ended December 31, 2022	$	1.4500	$	81,575
2023
March 31, 2023 (one record date)	$	0.3400	$	18,687
June 30, 2023 (one record date)	0.3400		18,614
Total distributions for the six months ended June 30, 2023	$	0.6800	$	37,301

On August 7, 2023, the Company’s co-chief executive officers declared (i) a regular quarterly distribution of $0.34 per share for the third quarter of 2023 payable on September 15, 2023 to shareholders of record as of September 1, 2023 and (ii) a supplemental distribution of $0.05 per share for both the third and fourth quarters of 2023, payable on October 16, 2023 and January 15, 2024, respectively, to shareholders of record as of September 29, 2023 and December 29, 2023, respectively.

In connection with the Listing of its shares of common stock on the NYSE, on September 15, 2021, the Company terminated the Old DRP. The final distribution reinvestment under the Old DRP was made as part of the regular monthly distribution paid on September 14, 2021 to shareholders of record as of September 13, 2021. On September 15, 2021, the Company adopted the New DRP, which became effective as of the Listing and first applied to the reinvestment of distributions paid on December 8, 2021.

Under the Old DRP and prior to the Listing, distributions to participating shareholders who “opted in” to the Old DRP were reinvested in additional shares of the Company's common stock at a purchase price equal to the estimated net asset value per share of common stock as of the date of issuance.

39

CĪON Investment Corporation

Notes to Consolidated Financial Statements (unaudited)

June 30, 2023

(in thousands, except share and per share amounts)

Upon the Listing, all shareholders were automatically enrolled in the New DRP and will receive distributions as declared by the Company in additional shares of its common stock unless such shareholder affirmatively elects to receive an entire distribution in cash by notifying (i) such shareholder’s financial adviser; or (ii) if such shareholder has a registered account maintained at the Company’s transfer agent, the plan administrator. With respect to distributions to participating shareholders under the New DRP, the Company reserves the right to either issue new shares or cause the plan administrator to purchase shares in the open market in connection with implementation of the New DRP. Unless the Company, in its sole discretion, otherwise directs DST Asset Management Solutions, Inc., the plan administrator, (A) if the per share “market price” (as defined in the New DRP) is equal to or greater than the estimated net asset value per share on the payment date for the distribution, then the Company will issue shares at the greater of (i) the estimated net asset value or (ii) 95% of the market price, or (B) if the market price is less than the estimated net asset value, then, in the Company’s sole discretion, (i) shares will be purchased in open market transactions for the accounts of participating shareholders to the extent practicable, or (ii) the Company will issue shares at the estimated net asset value. Pursuant to the terms of the New DRP, the number of shares to be issued to a participating shareholder will be determined by dividing the total dollar amount of the distribution payable to a participating shareholder by the price per share at which the Company issues such shares; provided, however, that shares purchased in open market transactions by the plan administrator will be allocated to a participating shareholder based on the weighted average purchase price, excluding any brokerage charges or other charges, of all shares purchased in the open market with respect to such distribution.

If a shareholder receives distributions in the form of common stock pursuant to the New DRP, such shareholder generally will be subject to the same federal, state and local tax consequences as if they elected to receive distributions in cash. If the Company’s common stock is trading at or below net asset value, a shareholder receiving distributions in the form of additional common stock will be treated as receiving a distribution in the amount of cash that such shareholder would have received if they had elected to receive the distribution in cash. If the Company’s common stock is trading above net asset value, a shareholder receiving distributions in the form of additional common stock will be treated as receiving a distribution in the amount of the fair market value of the Company’s common stock. The shareholder’s basis for determining gain or loss upon the sale of common stock received in a distribution will be equal to the total dollar amount of the distribution payable to the shareholder. Any stock received in a distribution will have a holding period for tax purposes commencing on the day following the day on which the shares of common stock are credited to the shareholder’s account.

The following table below provides information concerning the Company’s repurchases of shares of its common stock in the open market during the three months ended June 30, 2023 pursuant to the New DRP in order to satisfy the reinvestment portion of the Company’s distributions:

Period	Total Number of Shares Purchased	Average Price Paid per Share		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	Maximum Number of Shares That May Yet Be Purchased Under the Plans or Programs
April 1 to April 30, 2023	—	$	—	—	—
May 1 to May 31, 2023	—	—		—	—
June 1 to June 30, 2023	174,424	10.71		174,424	(1)
Total	174,424	$	10.71	174,424	(1)

(1) See description above.

The Company may fund its distributions to shareholders from any sources of funds available to the Company, including borrowings, net investment income from operations, capital gains proceeds from the sale of assets, non-capital gains proceeds from the sale of assets, and dividends or other distributions paid to it on account of preferred and common equity investments in portfolio companies. Any such distributions can only be sustained if the Company maintains positive investment performance in future periods. There can be no assurances that the Company will maintain such performance in order to sustain these distributions or be able to pay distributions at all. On December 31, 2021, the Company and CIM allowed the expense support and conditional reimbursement agreement to expire in accordance with its terms. As a result, CIM has no obligation to provide expense support to the Company in future periods. The Company has not established limits on the amount of funds it may use from available sources to make distributions.

The following table reflects the sources of distributions on a GAAP basis that the Company has declared on its shares of common stock during the six months ended June 30, 2023 and 2022 and the year ended December 31, 2022:

	Six Months Ended June 30,												Year Ended December 31,
	2023						2022						2022
Source of Distribution	Per Share		Amount		Percentage		Per Share		Amount		Percentage		Per Share		Amount		Percentage
Net investment income	$	0.6800	$	37,301	100.0	%	$	0.5600	$	31,897	100.0	%	$	1.4500	$	81,575	100.0	%
Total distributions	$	0.6800	$	37,301	100.0	%	$	0.5600	$	31,897	100.0	%	$	1.4500	$	81,575	100.0	%

40

CĪON Investment Corporation

Notes to Consolidated Financial Statements (unaudited)

June 30, 2023

(in thousands, except share and per share amounts)

It is the Company's policy to comply with all requirements of the Code applicable to RICs and to distribute at least 90% of its taxable income to its shareholders. In addition, by distributing during each calendar year at least 90% of its “investment company taxable income”, which is generally equal to the sum of the Company’s net ordinary income plus the excess, if any, of realized net short-term capital gains over realized net long-term capital losses, the Company intends not to be subject to corporate level federal income tax. Accordingly, no federal income tax provision was required for the year ended December 31, 2022. The Company will also be subject to nondeductible federal excise taxes of 4% if the Company does not distribute at least 98.0% of net ordinary income, 98.2% of capital gains, if any, and any recognized and undistributed income from prior years for which it paid no federal income taxes.

Income and capital gain distributions are determined in accordance with the Code and federal tax regulations, which may differ from amounts determined in accordance with GAAP. These book/tax differences, which could be material, are primarily due to differing treatments of income and gains on various investments held by the Company. Permanent book/tax differences result in reclassifications to capital in excess of par value, accumulated undistributed net investment income and accumulated undistributed realized gain on investments.

The determination of the tax attributes of the Company’s distributions is made annually as of the end of the Company’s fiscal year based upon the Company’s taxable income for the full year and distributions paid for the full year. The tax characteristics of distributions to shareholders are reported to shareholders annually on Form 1099-DIV. All distributions for 2022 were characterized as ordinary income distributions for federal income tax purposes.

The tax components of accumulated earnings or losses for the current year will be determined at year end. As of December 31, 2022, the components of accumulated losses on a tax basis were as follows:

	December 31, 2022
Undistributed ordinary income	$	8,543
Other accumulated losses(1)	(77,942)
Net unrealized depreciation on investments	(91,091)
Total accumulated losses	$	(160,490)

(1)Includes short term capital loss carryforwards of $7,233 and long term capital loss carryforwards of $66,284.

As of June 30, 2023, the aggregate gross unrealized appreciation for all securities in which there was an excess of value over tax cost was $26,828; the aggregate gross unrealized depreciation for all securities in which there was an excess of tax cost over value was $169,033; the net unrealized depreciation was $142,205; and the aggregate cost of securities for Federal income tax purposes was $1,930,667.

As of December 31, 2022, the aggregate gross unrealized appreciation for all securities in which there was an excess of value over tax cost was $31,155; the aggregate gross unrealized depreciation for all securities in which there was an excess of tax cost over value was $122,246; the net unrealized depreciation was $91,091; and the aggregate cost of securities for Federal income tax purposes was $1,851,121.

41

CĪON Investment Corporation

Notes to Consolidated Financial Statements (unaudited)

June 30, 2023

(in thousands, except share and per share amounts)

Note 6. Investments

The composition of the Company’s investment portfolio as of June 30, 2023 and December 31, 2022 at amortized cost and fair value was as follows:

	June 30, 2023						December 31, 2022
	Cost(1)		Fair Value		Percentage of Investment Portfolio		Cost(1)		Fair Value		Percentage of Investment Portfolio
Senior secured first lien debt	$	1,546,799	$	1,468,630	87.0	%	$	1,638,995	$	1,579,512	90.3	%
Senior secured second lien debt	41,153		39,544		2.3	%	41,036		38,769		2.2	%
Collateralized securities and structured products - equity	2,510		1,046		0.1	%	2,687		1,179		0.1	%
Unsecured debt	34,635		17,301		1.0	%	30,427		22,643		1.3	%
Equity	139,145		161,170		9.6	%	79,595		107,058		6.1	%
Subtotal/total percentage	1,764,242		1,687,691		100.0	%	1,792,740		1,749,161		100.0	%
Short term investments(2)	100,771		100,771				10,869		10,869
Total investments	$	1,865,013	$	1,788,462			$	1,803,609	$	1,760,030

(1)Cost represents the original cost adjusted for the amortization of premiums and/or accretion of discounts, as applicable, for debt investments and cost for equity investments.

(2)Short term investments represent an investment in a fund that invests in highly liquid investments with average original maturity dates of three months or less.

42

CĪON Investment Corporation

Notes to Consolidated Financial Statements (unaudited)

June 30, 2023

(in thousands, except share and per share amounts)

The following tables show the composition of the Company’s investment portfolio by industry classification and geographic dispersion, and the percentage, by fair value, of the total investment portfolio assets in such industries and geographies as of June 30, 2023 and December 31, 2022:

	June 30, 2023				December 31, 2022
Industry Classification	Investments at Fair Value		Percentage of Investment Portfolio		Investments at Fair Value		Percentage of Investment Portfolio
Services: Business	$	302,710	18.0	%	$	336,055	19.2	%
Healthcare & Pharmaceuticals	236,791		14.0	%	237,082		13.6	%
Media: Diversified & Production	122,742		7.3	%	134,927		7.7	%
Media: Advertising, Printing & Publishing	110,139		6.5	%	105,375		6.0	%
Services: Consumer	105,328		6.3	%	115,849		6.6	%
Diversified Financials	81,052		4.8	%	99,819		5.7	%
Construction & Building	71,133		4.2	%	46,007		2.6	%
Chemicals, Plastics & Rubber	67,947		4.0	%	66,753		3.8	%
Energy: Oil & Gas	66,248		3.9	%	68,756		3.9	%
Retail	63,042		3.8	%	74,718		4.3	%
Consumer Goods: Durable	61,172		3.6	%	60,735		3.5	%
Hotel, Gaming & Leisure	60,211		3.6	%	46,739		2.7	%
High Tech Industries	52,664		3.1	%	56,501		3.2	%
Beverage, Food & Tobacco	51,337		3.0	%	45,396		2.6	%
Capital Equipment	46,606		2.8	%	41,580		2.4	%
Consumer Goods: Non-Durable	43,003		2.5	%	47,886		2.8	%
Banking, Finance, Insurance & Real Estate	36,139		2.1	%	43,836		2.5	%
Containers, Packaging & Glass	19,453		1.2	%	19,551		1.1	%
Telecommunications	18,315		1.1	%	18,302		1.1	%
Automotive	16,231		1.0	%	16,255		0.9	%
Metals & Mining	15,781		0.9	%	15,780		0.9	%
Environmental Industries	14,722		0.9	%	—		—
Aerospace & Defense	12,627		0.7	%	38,842		2.2	%
Transportation: Cargo	12,298		0.7	%	12,417		0.7	%
Subtotal/total percentage	1,687,691		100.0	%	1,749,161		100.0	%
Short term investments	100,771				10,869
Total investments	$	1,788,462			$	1,760,030

	June 30, 2023				December 31, 2022
Geographic Dispersion(1)	Investments at Fair Value		Percentage of Investment Portfolio		Investments at Fair Value		Percentage of Investment Portfolio
United States	$	1,675,076	99.3	%	$	1,739,866	99.5	%
Canada	10,682		0.5	%	7,452		0.4	%
Cayman Islands	1,046		0.1	%	1,179		0.1	%
Bermuda	887		0.1	%	664		—
Subtotal/total percentage	1,687,691		100.0	%	1,749,161		100.0	%
Short term investments	100,771				10,869
Total investments	$	1,788,462			$	1,760,030

(1)The geographic dispersion is determined by the portfolio company's country of domicile.

As of June 30, 2023 and December 31, 2022, investments on non-accrual status represented 1.7% and 1.3%, respectively, of the Company's investment portfolio on a fair value basis.

The Company’s investment portfolio may contain senior secured investments that are in the form of lines of credit, delayed draw term loans, revolving credit facilities, or unfunded commitments, which may require the Company to provide funding when requested in accordance with the terms of the underlying agreements. As of June 30, 2023 and December 31, 2022, the Company’s unfunded commitments amounted to $56,378 and $71,420, respectively. As of August 2, 2023, the Company’s unfunded commitments amounted to $54,475. Since these commitments may expire without being drawn upon, unfunded commitments do not necessarily represent future cash requirements or future earning assets for the Company.  Refer to Note 11 for further details on the Company’s unfunded commitments.

43

CĪON Investment Corporation

Notes to Consolidated Financial Statements (unaudited)

June 30, 2023

(in thousands, except share and per share amounts)

Note 7. Joint Ventures

CION/EagleTree Partners, LLC

On December 21, 2021, the Company formed CION/EagleTree, an off-balance sheet joint venture partnership with ET-BC Debt Opportunities, LP, or ET-BC, which is an affiliate of EagleTree Capital, LP, or EagleTree. EagleTree made a Firm-level investment with proprietary capital. CION/EagleTree jointly pursues debt and equity opportunities, as well as special situation, crossover, subordinated and other junior capital investments that leverages the Company's and EagleTree's combined sourcing and portfolio management capabilities.

The Company contributed a portfolio of second lien loans and equity investments and ET-BC contributed proprietary Firm-level cash in exchange for 85% and 15%, respectively, of the senior secured notes, participating preferred equity, and common share interests of CION/EagleTree. The Company and ET-BC are not required to make any additional capital contributions to CION/EagleTree. The Company’s equity investment in CION/EagleTree is not redeemable. All portfolio and other material decisions regarding CION/EagleTree must be submitted to its board of managers, which is comprised of four members, two of whom were selected by the Company and the other two were selected by ET-BC. Further, all portfolio and other material decisions require the affirmative vote of at least one board member from the Company and one board member from ET-BC.

The Company also serves as administrative agent to CION/EagleTree to provide servicing functions and other administrative services. In certain cases, these servicing functions and other administrative services may be performed by CIM.

On December 21, 2021, CION/EagleTree issued senior secured notes of $61,629 to the Company and $10,875 to ET-BC, or the CION/EagleTree Notes. The CION/EagleTree Notes bear interest at a fixed rate of 14.0% per year and are secured by a first priority security interest in all of the assets of CION/EagleTree. The obligations of CION/EagleTree under the CION/EagleTree Notes are non-recourse to the Company.

In accordance with ASU 2015-02, Consolidation, the Company determined that CION/EagleTree is not a variable interest entity, or VIE, as the Company is not the primary beneficiary and therefore does not consolidate CION/EagleTree. The Company's maximum exposure to losses from CION/EagleTree is limited to its investment in CION/EagleTree.

44

CĪON Investment Corporation

Notes to Consolidated Financial Statements (unaudited)

June 30, 2023

(in thousands, except share and per share amounts)

The following table sets forth the individual investments in CION/EagleTree's portfolio as of June 30, 2023:

Portfolio Company	Interest(a)	Maturity	Industry	Principal/ Par Amount/ Units		Cost(b)		Fair Value
Senior Secured First Lien Debt
Berlitz Holdings, Inc.(g)	S+900, 1.00% SOFR Floor	2/14/2025	Services: Business	$	1,200	$	1,141	$	1,167
Community Tree Service, LLC(h)	S+1100, 1.00% SOFR Floor	6/17/2027	Construction & Building	460		460		452
Future Pak, LLC(g)	S+1000, 2.00% SOFR Floor	7/2/2024	Healthcare & Pharmaceuticals	1,162		1,155		1,162
Total Senior Secured First Lien Debt						2,756		2,781
Senior Secured Second Lien Debt
Access CIG, LLC(f)	L+775, 0.00% LIBOR Floor	2/27/2026	Services: Business	7,250		7,225		7,105
MedPlast Holdings, Inc.(e)	L+775, 0.00% LIBOR Floor	7/2/2026	Healthcare & Pharmaceuticals	6,750		6,206		6,539
Total Senior Secured Second Lien Debt						13,431		13,644
Collateralized Securities and Structured Products - Equity
Ivy Hill Middle Market Credit Fund VIII, Ltd. Subordinated Loan(c)	11.84% Estimated Yield	2/2/2026	Diversified Financials	10,000		9,796		9,263
Total Collateralized Securities and Structured Products - Equity						9,796		9,263
Equity
American Clinical Solutions LLC, Class A Membership Interests(d)			Healthcare & Pharmaceuticals	6,030,384 Units		5,200		5,910
Anthem Sports and Entertainment Inc., Class A Preferred Stock Warrants(d)			Media: Diversified & Production	1,469 Units		486		1,553
Anthem Sports and Entertainment Inc., Class B Preferred Stock Warrants(d)			Media: Diversified & Production	255 Units		—		171
Anthem Sports and Entertainment Inc., Common Stock Warrants(d)			Media: Diversified & Production	4,746 Units		—		96
BCP Great Lakes II - Series A Holdings LP, Partnership Interests (4.2% ownership)			Diversified Financials	N/A		13,100		12,672
Carestream Health Holdings, Inc., Common Stock(d)			Healthcare & Pharmaceuticals	613,262 Units		21,759		20,716
CHC Medical Partners, Inc., Series C Preferred Stock, 12% Dividend			Healthcare & Pharmaceuticals	2,727,273 Units		8,055		9,321
CTS Ultimate Holdings LLC, Class A Preferred Units(d)			Construction & Building	3,578,701 Units		1,000		608
Dayton HoldCo, LLC, Membership Units(d)			Construction & Building	37,264 Units		8,400		14,537
HDNet Holdco LLC, Preferred Unit Call Option(d)			Media: Diversified & Production	1 Unit		—		100
HW Ultimate Holdings, LP, Class A Membership Units, 4% Dividend(i)			Capital Equipment	2,000,000 Units		2,082		—
Language Education Holdings GP LLC, Common Units(d)			Services: Business	133,333 Units		—		—
Language Education Holdings LP, Ordinary Common Units(d)			Services: Business	133,333 Units		300		495
Skillsoft Corp., Class A Common Stock(d)			High Tech Industries	243,425 Units		2,000		302
Spinal USA, Inc. / Precision Medical Inc., Warrants(d)			Healthcare & Pharmaceuticals	20,667,324 Units		—		—
Total Equity						62,382		66,481
Short Term Investments
First American Treasury Obligations Fund, Class Z Shares						1,443		1,443
Total Short Term Investments						1,443		1,443
TOTAL INVESTMENTS						$	89,808	$	93,612

a.The actual LIBOR rate for each loan listed may not be the applicable LIBOR rate as of June 30, 2023, as the loan may have been priced or repriced based on a LIBOR rate prior to or subsequent to June 30, 2023. The actual SOFR rate for each loan listed may not be the applicable SOFR rate as of June 30, 2023, as the loan may have been priced or repriced based on a SOFR rate prior to or subsequent to June 30, 2023.

b.Represents amortized cost for debt securities and cost for equity investments.

c.The CLO subordinated notes are considered equity positions in the CLO vehicles and are not rated. Equity investments are entitled to recurring distributions, which are generally equal to the remaining cash flow of the payments made by the underlying vehicle's securities less contractual payments to debt holders and expenses. The estimated yield indicated is based upon a current projection of the amount and timing of these recurring distributions and the estimated amount of repayment of principal upon termination. Such projections are periodically reviewed and adjusted, and the estimated yield may not ultimately be realized.

d.Non-income producing security.

e.The interest rate on these loans is subject to 1 month LIBOR, which as of June 30, 2023 was 5.22%.

f.The interest rate on these loans is subject to 3 month LIBOR, which as of June 30, 2023 was 5.54%.

g.The interest rate on these loans is subject to 1 month SOFR, which as of June 30, 2023 was 5.14%.

h.The interest rate on these loans is subject to 3 month SOFR, which as of June 30, 2023 was 5.27%.

i.Investment or a portion thereof was on non-accrual status as of June 30, 2023.

45

CĪON Investment Corporation

Notes to Consolidated Financial Statements (unaudited)

June 30, 2023

(in thousands, except share and per share amounts)

The following table sets forth the individual investments in CION/EagleTree's portfolio as of December 31, 2022:

Portfolio Company	Interest(a)	Maturity	Industry	Principal/ Par Amount/ Units		Cost(b)		Fair Value
Senior Secured First Lien Debt
Berlitz Holdings, Inc.(g)	S+900, 1.00% SOFR Floor	2/14/2025	Services: Business	$	1,200	$	1,125	$	1,146
Community Tree Service, LLC(h)	S+850, 1.00% SOFR Floor	6/17/2027	Construction & Building	499		499		489
Future Pak, LLC(e)	L+800, 2.00% LIBOR Floor	7/2/2024	Healthcare & Pharmaceuticals	1,395		1,382		1,372
Total Senior Secured First Lien Debt						3,006		3,007
Senior Secured Second Lien Debt
Access CIG, LLC(f)	L+775, 0.00% LIBOR Floor	2/27/2026	Services: Business	7,250		7,220		6,933
Dayton Superior Corp.(e)	L+700, 2.00% LIBOR Floor	12/4/2024	Construction & Building	1,010		1,010		1,007
MedPlast Holdings, Inc.(e)	L+775, 0.00% LIBOR Floor	7/2/2026	Healthcare & Pharmaceuticals	6,750		6,135		6,337
Zest Acquisition Corp.(e)	L+700, 1.00% LIBOR Floor	3/14/2026	Healthcare & Pharmaceuticals	15,000		14,820		14,175
Total Senior Secured Second Lien Debt						29,185		28,452
Collateralized Securities and Structured Products - Equity
Ivy Hill Middle Market Credit Fund VIII, Ltd. Subordinated Loan(c)	11.84% Estimated Yield	2/2/2026	Diversified Financials	10,000		9,874		9,523
Total Collateralized Securities and Structured Products - Equity						9,874		9,523
Equity
American Clinical Solutions LLC, Class A Membership Interests(d)			Healthcare & Pharmaceuticals	6,030,384 Units		5,200		3,618
Anthem Sports and Entertainment Inc., Class A Preferred Stock Warrants(d)			Media: Diversified & Production	1,469 Units		486		1,881
Anthem Sports and Entertainment Inc., Class B Preferred Stock Warrants(d)			Media: Diversified & Production	255 Units		—		187
Anthem Sports and Entertainment Inc., Common Stock Warrants(d)			Media: Diversified & Production	4,746 Units		—		580
BCP Great Lakes II - Series A Holdings LP, Partnership Interests (4.2% ownership)			Diversified Financials	N/A		11,436		11,058
Carestream Health Holdings, Inc., Common Stock(d)			Healthcare & Pharmaceuticals	613,262 Units		21,759		21,544
CHC Medical Partners, Inc., Series C Preferred Stock, 12% Dividend			Healthcare & Pharmaceuticals	2,727,273 Units		7,891		8,877
CTS Ultimate Holdings LLC, Class A Preferred Units(d)			Construction & Building	3,578,701 Units		1,000		859
Dayton HoldCo, LLC, Membership Units(d)			Construction & Building	37,264 Units		8,400		15,334
HDNet Holdco LLC, Preferred Unit Call Option(d)			Media: Diversified & Production	1 Unit		—		185
HW Ultimate Holdings, LP, Class A Membership Units, 4% Dividend			Capital Equipment	2,000,000 Units		2,082		130
Language Education Holdings GP LLC, Common Units(d)			Services: Business	133,333 Units		—		—
Language Education Holdings LP, Ordinary Common Units(d)			Services: Business	133,333 Units		300		427
Skillsoft Corp., Class A Common Stock(d)			High Tech Industries	243,425 Units		2,000		316
Spinal USA, Inc. / Precision Medical Inc., Warrants(d)			Healthcare & Pharmaceuticals	20,667,324 Units		—		—
Total Equity						60,554		64,996
TOTAL INVESTMENTS						$	102,619	$	105,978

a.The actual LIBOR rate for each loan listed may not be the applicable LIBOR rate as of December 31, 2022, as the loan may have been priced or repriced based on a LIBOR rate prior to or subsequent to December 31, 2022. The actual SOFR rate for each loan listed may not be the applicable SOFR rate as of December 31, 2022, as the loan may have been priced or repriced based on a SOFR rate prior to or subsequent to December 31, 2022.

b.Represents amortized cost for debt securities and cost for equity investments.

c.The CLO subordinated notes are considered equity positions in the CLO vehicles and are not rated. Equity investments are entitled to recurring distributions, which are generally equal to the remaining cash flow of the payments made by the underlying vehicle's securities less contractual payments to debt holders and expenses. The estimated yield indicated is based upon a current projection of the amount and timing of these recurring distributions and the estimated amount of repayment of principal upon termination. Such projections are periodically reviewed and adjusted, and the estimated yield may not ultimately be realized.

d.Non-income producing security.

e.The interest rate on these loans is subject to 1 month LIBOR, which as of December 31, 2022 was 4.39%.

f.The interest rate on these loans is subject to 3 month LIBOR, which as of December 31, 2022 was 4.77%.

g.The interest rate on these loans is subject to 1 month SOFR, which as of December 31, 2022 was 4.36%.

h.The interest rate on these loans is subject to 3 month SOFR, which as of December 31, 2022 was 4.59%.

46

CĪON Investment Corporation

Notes to Consolidated Financial Statements (unaudited)

June 30, 2023

(in thousands, except share and per share amounts)

The following table includes selected balance sheet information for CION/EagleTree as of June 30, 2023 and December 31, 2022:

Selected Balance Sheet Information:	June 30, 2023		December 31, 2022
Investments, at fair value (amortized cost of $89,808 and $102,619, respectively)	$	93,612	$	105,978
Cash and other assets	—		2,476
Dividend receivable on investments	479		225
Interest receivable on investments	284		301
Total assets	$	94,375	$	108,980
Senior secured notes (net of unamortized debt issuance costs of $82 and $94, respectively)	$	64,420	$	70,904
Other liabilities	333		1,881
Total liabilities	64,753		72,785
Members' capital	29,622		36,195
Total liabilities and members' capital	$	94,375	$	108,980

The following table includes selected statement of operations information for CION/EagleTree for the three and six months ended June 30, 2023 and 2022 and for the year ended December 31, 2022:

	Three Months Ended June 30,				Six Months Ended June 30,				Year Ended December 31,
Selected Statement of Operations Information:	2023		2022		2023		2022		2022
Total revenues	$	1,468	$	1,839	$	3,063	$	3,723	$	9,653
Total expenses	2,566		2,802		5,258		5,522		11,120
Net realized gain on investments	—		—		176		—		9,947
Net change in unrealized appreciation (depreciation) on investments	409		(695)		446		(153)		(5,839)
Net (decrease) increase in net assets	$	(689)	$	(1,658)	$	(1,573)	$	(1,952)	$	2,641

47

CĪON Investment Corporation

Notes to Consolidated Financial Statements (unaudited)

June 30, 2023

(in thousands, except share and per share amounts)

Note 8. Financing Arrangements

The following table presents summary information with respect to the Company’s outstanding financing arrangements as of June 30, 2023: 

Financing Arrangement	Type of Financing Arrangement	Rate	Amount Outstanding		Amount Available		Maturity Date
JPM Credit Facility	Term Loan Credit Facility	SOFR+3.20%	$	600,000	$	75,000	May 15, 2025
2026 Notes(1)	Note Purchase Agreement	4.50%	125,000		—		February 11, 2026
UBS Facility	Repurchase Agreement	SOFR+3.525%	100,000		50,000		November 19, 2024
Series A Notes	Israel Public Bond Offering	SOFR+3.82%	80,712		—		August 31, 2026
2022 More Term Loan	Term Loan Facility Agreement	SOFR+3.50%	50,000		—		April 27, 2027
2021 More Term Loan(2)	Term Loan Facility Agreement	5.20%	30,000		—		September 30, 2024
			$	985,712	$	125,000

(1)As of June 30, 2023, the fair value of the 2026 Notes was $122,500, which was based on a yield analysis and discount rate commensurate with the market yields for similar types of debt. The fair value of these debt obligations would be categorized as Level 3 under ASC 820 as of June 30, 2023.

(2)As of June 30, 2023, the fair value of the 2021 More Term Loan was $29,513, which was based on a yield analysis and discount rate commensurate with the market yields for similar types of debt. The fair value of these debt obligations would be categorized as Level 3 under ASC 820 as of June 30, 2023.

JPM Credit Facility

On August 26, 2016, 34th Street entered into a senior secured credit facility with JPM. The senior secured credit facility with JPM, or the JPM Credit Facility, provided for borrowings in an aggregate principal amount of $150,000, of which $25,000 could have been funded as a revolving credit facility, each subject to conditions described in the JPM Credit Facility. On August 26, 2016, 34th Street drew down $57,000 of borrowings under the JPM Credit Facility.

On September 30, 2016, July 11, 2017, November 28, 2017 and May 23, 2018, 34th Street amended and restated the JPM Credit Facility, or the Amended JPM Credit Facility, with JPM. Under the Amended JPM Credit Facility entered into on September 30, 2016, the aggregate principal amount available for borrowings was increased from $150,000 to $225,000, of which $25,000 could have been funded as a revolving credit facility, subject to conditions described in the Amended JPM Credit Facility. Under the Amended JPM Credit Facility entered into on July 11, 2017 and November 28, 2017, certain immaterial administrative amendments were made as a result of the termination of AIM as the Company's investment sub-adviser as discussed in Note 1. Under the Amended JPM Credit Facility entered into on May 23, 2018, (i) the aggregate principal amount available for borrowings was increased from $225,000 to $275,000, of which $25,000 could have been funded as a revolving credit facility, subject to conditions described in the Amended JPM Credit Facility, (ii) the reinvestment period was extended until August 24, 2020 and (iii) the maturity date was extended to August 24, 2021.

On May 15, 2020, 34th Street amended and restated the Amended JPM Credit Facility, or the Second Amended JPM Credit Facility, with JPM in order to fully repay all amounts outstanding under the Company's prior Citibank Credit Facility and MS Credit Facility and repay $100,000 of advances outstanding under the UBS Facility (as described below). Under the Second Amended JPM Credit Facility, the aggregate principal amount available for borrowings was increased from $275,000 to $700,000, of which $75,000 may be funded as a revolving credit facility, subject to conditions described in the Second Amended JPM Credit Facility, during the reinvestment period. Under the Second Amended JPM Credit Facility, the reinvestment period was extended until May 15, 2022 and the maturity date was extended to May 15, 2023. Advances under the Second Amended JPM Credit Facility bore interest at a floating rate equal to the three-month LIBOR, plus a spread of 3.25% per year.

On February 26, 2021, 34th Street amended and restated the Second Amended JPM Credit Facility, or the Third Amended JPM Credit Facility, with JPM. Under the Third Amended JPM Credit Facility, the aggregate principal amount available for borrowings was reduced from $700,000 to $575,000, subject to conditions described in the Third Amended JPM Credit Facility. In addition, under the Third Amended JPM Credit Facility, the reinvestment period was extended from May 15, 2022 to May 15, 2023 and the maturity date was extended from May 15, 2023 to May 15, 2024. Advances under the Third Amended JPM Credit Facility bore interest at a floating rate equal to the three-month LIBOR, plus a spread of 3.10% per year. 34th Street incurred certain customary costs and expenses in connection with the Third Amended JPM Credit Facility. No other material terms of the Second Amended JPM Credit Facility were revised in connection with the Third Amended JPM Credit Facility.

48

CĪON Investment Corporation

Notes to Consolidated Financial Statements (unaudited)

June 30, 2023

(in thousands, except share and per share amounts)

On March 28, 2022, 34th Street entered into a First Amendment to the Third Amended JPM Credit Facility with JPM, or the JPM First Amendment. Under the JPM First Amendment, the aggregate principal amount available for borrowings was increased from $575,000 to $675,000, subject to conditions described in the JPM First Amendment. Additional advances of up to $100,000 under the JPM First Amendment bore interest at a floating rate equal to the three-month SOFR, plus a credit spread of 3.10% per year, and a LIBOR to SOFR credit spread adjustment of 0.15%. 34th Street incurred certain customary costs and expenses in connection with the JPM First Amendment. No other material terms of the Third Amended JPM Credit Facility were revised in connection with the JPM First Amendment.

On May 15, 2023, 34th Street entered into a Second Amendment to the Third Amended JPM Credit Facility with JPM, or the JPM Second Amendment. Under the JPM Second Amendment, the aggregate principal amount available for borrowings remained unchanged of up to $675,000 but all such advances bear interest at a floating rate equal to the three-month SOFR, plus a credit spread of 3.05% per year, and a LIBOR to SOFR credit spread adjustment of 0.15%. The reinvestment period was extended from May 15, 2023 to May 15, 2024 and the maturity date was extended from May 15, 2024 to May 15, 2025. Also under the JPM Second Amendment, the amount of minimum borrowings required was reduced by $50,000 to $550,000 with a six-month non-call provision. 34th Street incurred certain customary costs and expenses in connection with the JPM Second Amendment. No other material terms of the Third Amended JPM Credit Facility were revised in connection with the JPM Second Amendment.

Interest is payable quarterly in arrears. 34th Street may prepay advances pursuant to the terms and conditions of the Third Amended JPM Credit Facility and the JPM Second Amendment, subject to a 1.0% premium in certain circumstances. In addition, 34th Street will be subject to a non-usage fee of 1.0% per year on the amount, if any, of the aggregate principal amount available under the Third Amended JPM Credit Facility and the JPM Second Amendment that has not been borrowed through May 14, 2024. The non-usage fees, if any, are payable quarterly in arrears.

As of June 30, 2023 and December 31, 2022, the aggregate principal amount outstanding on the Third Amended JPM Credit Facility and the JPM Second Amendment was $600,000 and $610,000, respectively. The carrying amount outstanding under the Third Amended JPM Credit Facility approximates its fair value.

The Company contributed loans and other corporate debt securities to 34th Street in exchange for 100% of the membership interests of 34th Street, and may contribute additional loans and other corporate debt securities to 34th Street in the future. 34th Street’s obligations to JPM under the Third Amended JPM Credit Facility and the JPM Second Amendment are secured by a first priority security interest in all of the assets of 34th Street. The obligations of 34th Street under the Third Amended JPM Credit Facility and the JPM Second Amendment are non-recourse to the Company, and the Company’s exposure under the Third Amended JPM Credit Facility and the JPM Second Amendment is limited to the value of the Company’s investment in 34th Street.

In connection with the Third Amended JPM Credit Facility and the JPM Second Amendment, 34th Street made certain representations and warranties and is required to comply with a borrowing base requirement, various covenants, reporting requirements and other customary requirements for similar facilities. As of and for the three months ended June 30, 2023, 34th Street was in compliance with all covenants and reporting requirements.

Through June 30, 2023, the Company incurred debt issuance costs of $13,790 in connection with obtaining and amending the JPM Credit Facility, which were recorded as a direct reduction to the outstanding balance of the Third Amended JPM Credit Facility and the JPM Second Amendment, which is included in the Company’s consolidated balance sheet as of June 30, 2023 and will amortize to interest expense over the term of the Third Amended JPM Credit Facility and the JPM Second Amendment. At June 30, 2023, the unamortized portion of the debt issuance costs was $3,726.

For the three and six months ended June 30, 2023 and 2022 and the year ended December 31, 2022, the components of interest expense, average borrowings, and weighted average interest rate for the JPM Second Amendment and the Third Amended JPM Credit Facility were as follows:

	Three Months Ended June 30,						Six Months Ended June 30,						Year Ended December 31,
	2023			2022			2023			2022			2022
Stated interest expense	$	12,385		$	6,056		$	24,375		$	10,763		$	29,254
Amortization of deferred financing costs	532			571			1,096			1,061			2,214
Non-usage fee	189			193			360			263			617
Total interest expense	$	13,106		$	6,820		$	25,831		$	12,087		$	32,085
Weighted average interest rate(1)	8.30		%	4.12		%	8.16		%	3.81		%	4.99		%
Average borrowings	$	600,000		$	598,571		$	603,315		$	575,083		$	590,603

(1)Includes the stated interest expense and non-usage fee on the unused portion of the JPM Second Amendment and the Third Amended JPM Credit Facility and is annualized for periods covering less than one year.

49

CĪON Investment Corporation

Notes to Consolidated Financial Statements (unaudited)

June 30, 2023

(in thousands, except share and per share amounts)

2026 Notes

On February 11, 2021, the Company entered into a Note Purchase Agreement with certain purchasers, or the Note Purchase Agreement, in connection with the Company’s issuance of $125,000 aggregate principal amount of its 4.50% senior unsecured notes due in 2026, or the 2026 Notes. The net proceeds to the Company were approximately $122,300, after the deduction of placement agent fees and other financing expenses, which the Company used to repay debt under its secured financing arrangements.

The 2026 Notes mature on February 11, 2026. The 2026 Notes bear interest at a rate of 4.50% per year payable semi-annually on February 11th and August 11th of each year, which commenced on August 11, 2021. The Company has the right to, at its option, redeem all or a part that is not less than 10% of the 2026 Notes (i) on or before February 11, 2024, at a redemption price equal to 100% of the principal amount of 2026 Notes to be redeemed plus an applicable “make-whole” amount equal to (x) the discounted value of the remaining scheduled payments with respect to the principal of such 2026 Note that is to be prepaid or becomes due and payable pursuant to the Note Purchase Agreement over (y) the amount of such called principal, plus accrued and unpaid interest, if any, (ii) after February 11, 2024 but on or before February 11, 2025, at a redemption price equal to 102% of the principal amount of the 2026 Notes to be redeemed, plus accrued and unpaid interest, if any, (iii) after February 11, 2025 but on or before August 11, 2025, at a redemption price equal to 101% of the principal amount of the 2026 Notes to be redeemed, plus accrued and unpaid interest, if any, and (iv) after August 11, 2025, at a redemption price equal to 100% of the principal amount of the 2026 Notes to be redeemed, plus accrued and unpaid interest, if any. For any redemptions occurring on or before February 11, 2024, the discounted value portion of the “make whole amount” is calculated by applying a discount rate on the same periodic basis as that on which interest on the 2026 Notes is payable equal to the sum of 0.50% plus the yield to maturity of the most recently issued U.S. Treasury securities having a maturity equal to the remaining average life of the 2026 Notes, or if there are no such U.S. Treasury securities, using such implied yield to maturity determined in accordance with the terms of the Note Purchase Agreement.

The 2026 Notes are general unsecured obligations of the Company that rank pari passu with all existing and future unsecured unsubordinated indebtedness issued by the Company, rank effectively junior to any of the Company’s secured indebtedness (including unsecured indebtedness that the Company later secures) to the extent of the value of the assets securing such indebtedness, and rank structurally junior to all existing and future indebtedness (including trade payables) incurred by certain of the Company’s subsidiaries, financing vehicles or similar facilities.

The Note Purchase Agreement contains other terms and conditions, including, without limitation, affirmative and negative covenants such as (i) information reporting, (ii) maintenance of the Company’s status as a BDC, (iii) minimum shareholders’ equity of 60% of the Company’s net asset value as of the year ended December 31, 2020 plus 50% of the net cash proceeds of the sale of certain equity interests by the Company after February 11, 2021, if any, (iv) a minimum asset coverage ratio of not less than 150%, (v) a minimum interest coverage ratio of 1.25 to 1.00 and (vi) an unencumbered asset coverage ratio of 1.25 to 1.00, provided that (a) first lien senior secured loans and cash represent more than 65% of the total value of unencumbered assets used by the Company for purposes of the ratio and (b) equity interests or structured products in the aggregate represent less than 15% of the total value of unencumbered assets used by the Company for purposes of the ratio. As of and for the three months ended June 30, 2023, the Company was in compliance with all covenants and reporting requirements.

The Note Purchase Agreement also contains a “most favored lender” provision in favor of the purchasers in respect of any new unsecured credit facilities, loans or indebtedness in excess of $25,000 incurred by the Company, which indebtedness contains a financial covenant not contained in, or more restrictive against the Company than those contained, in the Note Purchase Agreement. In addition, the Note Purchase Agreement 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 or derivative securities of the Company in an outstanding aggregate principal amount of at least $25,000, certain judgments and orders, and certain events of bankruptcy.

As of June 30, 2023, the aggregate principal amount of 2026 Notes outstanding was $125,000.

Through June 30, 2023, the Company incurred debt issuance costs of $2,669 in connection with issuing the 2026 Notes, which were recorded as a direct reduction to the outstanding balance of the 2026 Notes, which is included in the Company’s consolidated balance sheet as of June 30, 2023 and will amortize to interest expense over the term of the 2026 Notes. At June 30, 2023, the unamortized portion of the debt issuance costs was $1,398.

50

CĪON Investment Corporation

Notes to Consolidated Financial Statements (unaudited)

June 30, 2023

(in thousands, except share and per share amounts)

For the three and six months ended June 30, 2023 and 2022 and for the year ended December 31, 2022, the components of interest expense, average borrowings, and weighted average interest rate for the 2026 Notes were as follows:

	Three Months Ended June 30,						Six Months Ended June 30,						Year Ended December 31, 2022
	2023			2022			2023			2022
Stated interest expense	$	1,406		$	1,422		$	2,812		$	2,828		$	5,600
Amortization of deferred financing costs	133			133			264			264			533
Total interest expense	$	1,539		$	1,555		$	3,076		$	3,092		$	6,133
Weighted average interest rate(1)	4.50		%	4.50		%	4.50		%	4.50		%	4.50		%
Average borrowings	$	125,000		$	125,000		$	125,000		$	125,000		$	125,000

(1)Includes the stated interest expense on the 2026 Notes and is annualized for periods covering less than one year.

UBS Facility

On May 19, 2017, the Company, through two newly-formed, wholly-owned, special-purpose financing subsidiaries, entered into a financing arrangement with UBS pursuant to which up to $125,000 was made available to the Company.

Pursuant to the financing arrangement, assets in the Company's portfolio may be contributed from time to time to Murray Hill Funding II through Murray Hill Funding, LLC, or Murray Hill Funding, each a newly-formed, wholly-owned, special-purpose financing subsidiary of the Company. On May 19, 2017, the Company contributed assets to Murray Hill Funding II. The assets held by Murray Hill Funding II secure the obligations of Murray Hill Funding II under Class A-1 Notes, or the Notes, issued by Murray Hill Funding II. Pursuant to an Indenture, dated May 19, 2017, between Murray Hill Funding II and U.S. Bank National Association, or U.S. Bank, as trustee, or the Indenture, the aggregate principal amount of Notes that may be issued by Murray Hill Funding II from time to time was $192,308. Murray Hill Funding purchased the Notes issued by Murray Hill Funding II at a purchase price equal to their par value. Murray Hill Funding makes capital contributions to Murray Hill Funding II to, among other things, maintain the value of the portfolio of assets held by Murray Hill Funding II.

Principal on the Notes will be due and payable on the stated maturity date of May 19, 2027. Pursuant to the Indenture, Murray Hill Funding II made certain representations and warranties and is required to comply with various covenants, reporting requirements and other customary requirements for similar transactions. The Indenture contains events of default customary for similar transactions, including, without limitation: (a) the failure to make principal payments on the Notes at their stated maturity or any earlier redemption date or to make interest payments on the Notes and such failure is not cured within three business days; (b) the failure to disburse amounts in accordance with the priority of payments and such failure is not cured within three business days; and (c) the occurrence of certain bankruptcy and insolvency events with respect to Murray Hill Funding II or Murray Hill Funding. As of and for the three months ended June 30, 2023, Murray Hill Funding II was in compliance with all covenants and reporting requirements.

Murray Hill Funding, in turn, entered into a repurchase transaction with UBS, pursuant to the terms of a Global Master Repurchase Agreement and the related Annex and Master Confirmation thereto, each dated May 19, 2017, or collectively, the UBS Facility. Pursuant to the UBS Facility, on May 19, 2017 and June 19, 2017, UBS purchased Notes held by Murray Hill Funding for an aggregate purchase price equal to 65% of the principal amount of Notes purchased. Subject to certain conditions, the maximum principal amount of Notes that may be purchased under the UBS Facility was $192,308. Accordingly, the aggregate maximum amount payable to Murray Hill Funding under the UBS Facility would not exceed $125,000. Murray Hill Funding was required to repurchase the Notes sold to UBS under the UBS Facility by no later than May 19, 2020. The repurchase price paid by Murray Hill Funding to UBS will be equal to the purchase price paid by UBS for the repurchased Notes (giving effect to any reductions resulting from voluntary partial prepayment(s)). The financing fee under the UBS Facility was equal to the three-month LIBOR plus a spread of up to 3.50% per year for the relevant period.

On December 1, 2017, Murray Hill Funding II amended and restated the Indenture, or the Amended Indenture, pursuant to which the aggregate principal amount of Notes that may be issued by Murray Hill Funding II was increased from $192,308 to $266,667. On December 1, 2017, Murray Hill Funding entered into a First Amended and Restated Master Confirmation to the Global Master Repurchase Agreement, or the Amended Master Confirmation, which sets forth the terms of the repurchase transaction between Murray Hill Funding and UBS under the UBS Facility. As part of the Amended Master Confirmation, on December 15, 2017 and April 2, 2018, UBS purchased the increased aggregate principal amount of Notes held by Murray Hill Funding for an aggregate purchase price equal to 75% of the principal amount of Notes issued. As a result of the Amended Master Confirmation, the aggregate maximum amount payable to Murray Hill Funding and made available to the Company under the UBS Facility was increased from $125,000 to $200,000. No other material terms of the UBS Facility were revised in connection with the amended UBS Facility, or the Amended UBS Facility.

51

CĪON Investment Corporation

Notes to Consolidated Financial Statements (unaudited)

June 30, 2023

(in thousands, except share and per share amounts)

On May 19, 2020, Murray Hill Funding entered into a Second Amended and Restated Master Confirmation to the Global Master Repurchase Agreement, or the Second Amended Master Confirmation, which extended the date that Murray Hill Funding will be required to repurchase the Notes sold to UBS under the Amended UBS Facility from May 19, 2020 to November 19, 2020, and increased the spread on the financing fee from 3.50% to 3.90% per year.

On May 19, 2020, Murray Hill Funding also repurchased Notes in the aggregate principal amount of $133,333 from UBS for an aggregate repurchase price of $100,000, which was then repaid by Murray Hill Funding II. The repurchase of the Notes on May 19, 2020 resulted in a repayment of one-half of the outstanding amount of borrowings under the Amended UBS Facility as of May 19, 2020. As of December 31, 2020, Notes remained outstanding in the aggregate principal amount of $133,333, which was purchased by Murray Hill Funding from Murray Hill Funding II and subsequently sold to UBS under the Amended UBS Facility for aggregate proceeds of $100,000.

On November 12, 2020, Murray Hill Funding entered into a Third Amended and Restated Master Confirmation to the Global Master Repurchase Agreement, or the Third Amended Master Confirmation, to further extend the date that Murray Hill Funding will be required to repurchase the Notes to December 18, 2020.

On December 17, 2020, Murray Hill Funding entered into a Fourth Amended and Restated Master Confirmation to the Global Master Repurchase Agreement, or the Fourth Amended Master Confirmation, which further extended the date that Murray Hill Funding will be required to repurchase the Notes sold to UBS under the Amended UBS Facility from December 18, 2020 to November 19, 2023, and decreased the spread on the financing fee from 3.90% to 3.375% per year. No other material terms of the Amended UBS Facility were revised in connection with the Fourth Amended Master Confirmation.

On December 17, 2020, Murray Hill Funding also entered into a Revolving Credit Note Agreement, or the Revolving Note Agreement, with Murray Hill Funding II, UBS and U.S. Bank, as note agent and trustee, which provides for a revolving credit facility in an aggregate principal amount of $50,000, subject to compliance with a borrowing base. Murray Hill Funding II will issue Class A-R Notes, or the Class A-R Notes, in exchange for advances under the Revolving Note Agreement. Principal on the Class A-R Notes will be due and payable on the stated maturity date of May 19, 2027, which is the same stated maturity date as the Notes.

The Class A-R Notes will be issued pursuant to a Second Amended and Restated Indenture, dated December 17, 2020, between Murray Hill Funding II and U.S. Bank, as trustee, or the Second Amended Indenture. Under the Second Amended Indenture, the aggregate principal amount of Notes and Class A-R Notes that may be issued by Murray Hill Funding II from time to time is $150,000. Murray Hill Funding, in turn, entered into a repurchase transaction with UBS pursuant to the terms of the related Annex and Master Confirmation, dated December 17, 2020, to the Global Master Repurchase Agreement, dated May 19, 2017, related to the Class A-R Notes. Murray Hill Funding was required to repurchase the Class A-R Notes that will be sold to UBS by no later than November 19, 2023. The financing fee for the funded Class A-R Notes was equal to the three-month LIBOR plus a spread of 3.375% per year while the financing fee for the unfunded Class A-R Notes is equal to 0.75% per year.

On June 14, 2023, Murray Hill Funding entered into with UBS (i) a Fifth Amended and Restated Master Confirmation (Class A-1 Notes) to the Global Master Repurchase Agreement, or the Fifth Amended Master Confirmation, and (ii) an Amended and Restated Master Confirmation (Class A-R Notes) to the Global Master Repurchase Agreement, or the Amended Master Confirmation. Under both Confirmations, the date that Murray Hill Funding will be required to repurchase the Notes and the Class A-R Notes previously sold to UBS under the Amended UBS Facility was extended from November 19, 2023 to November 19, 2024. Also under both Confirmations, the financing fee payable to UBS was revised from a floating rate equal to the three-month LIBOR, plus a spread of 3.375% per year, to a floating rate equal to the three-month SOFR, plus a spread of (a) to (but excluding) November 19, 2023, 3.525% per year, and (b) thereafter, 3.20% per year. The effective date of both Confirmations was June 15, 2023. No other material terms of the Amended UBS Facility were revised in connection with the Fifth Amended Master Confirmation or the Amended Master Confirmation.

On July 1, 2021, December 14, 2021 and April 19, 2022, UBS purchased Class A-R Notes held by Murray Hill Funding for an aggregate purchase price equal to 100% of the principal amount of Class A-R Notes purchased, which was $21,000, $25,000 and $17,500, respectively. On August 20, 2021, March 7, 2023 and April 14, 2023, Murray Hill Funding repurchased Class A-R Notes from UBS in the aggregate principal amount of $21,000, $17,500 and $25,000, respectively, for an aggregate repurchase price of $21,000, $17,500 and $25,000, respectively, which was then repaid by Murray Hill Funding II. The repurchase of the Class A-R Notes on August 20, 2021, March 7, 2023 and April 14, 2023 resulted in repayments of $21,000, $17,500 and $25,000, respectively, of the outstanding amount of borrowings under the Amended UBS Facility.

UBS may require Murray Hill Funding to post cash collateral if, without limitation, the sum of the market value of the portfolio of assets and the cash and eligible investments held by Murray Hill Funding II, together with any posted cash collateral, is less than the required margin amount under the Amended UBS Facility; provided, however, that Murray Hill Funding will not be required to post cash collateral with UBS until such market value has declined at least 10% from the initial market value of the portfolio assets.

52

CĪON Investment Corporation

Notes to Consolidated Financial Statements (unaudited)

June 30, 2023

(in thousands, except share and per share amounts)

The Company has no contractual obligation to post any such cash collateral or to make any payments to UBS on behalf of Murray Hill Funding. The Company may, but is not obligated to, increase its investment in Murray Hill Funding for the purpose of funding any cash collateral or payment obligations for which Murray Hill Funding becomes obligated in connection with the Amended UBS Facility. The Company’s exposure under the Amended UBS Facility is limited to the value of the Company’s investment in Murray Hill Funding.  

Pursuant to the Amended UBS Facility, Murray Hill Funding made certain representations and warranties and is required to comply with a borrowing base requirement, various covenants, reporting requirements and other customary requirements for similar transactions. The Amended UBS Facility contains events of default customary for similar financing transactions, including, without limitation: (a) failure to transfer the Notes to UBS on the applicable purchase date or repurchase the Notes from UBS on the applicable repurchase date; (b) failure to pay certain fees and make-whole amounts when due; (c) failure to post cash collateral as required; (d) the occurrence of insolvency events with respect to Murray Hill Funding; and (e) the admission by Murray Hill Funding of its inability to, or its intention not to, perform any of its obligations under the Amended UBS Facility. As of and for the three months ended June 30, 2023, Murray Hill Funding was in compliance with all covenants and reporting requirements.

Murray Hill Funding paid an upfront fee and incurred certain other customary costs and expenses totaling $2,637 in connection with obtaining the Amended UBS Facility, which were recorded as a direct reduction to the outstanding balance of the Amended UBS Facility, which is included in the Company’s consolidated balance sheets and amortized to interest expense over the term of the Amended UBS Facility. At June 30, 2023, all upfront fees and other expenses were fully amortized.

As of June 30, 2023, Notes in the aggregate principal amount of $100,000 had been purchased by Murray Hill Funding from Murray Hill Funding II and subsequently sold to UBS under the Amended UBS Facility for aggregate proceeds of $100,000. The carrying amount outstanding under the Amended UBS Facility approximates its fair value. The Company funded each purchase of Notes by Murray Hill Funding through a capital contribution to Murray Hill Funding. As of June 30, 2023, the amount due at maturity under the Amended UBS Facility was $100,000. The Notes issued by Murray Hill Funding II and purchased by Murray Hill Funding eliminate in consolidation on the Company’s consolidated financial statements.

As of June 30, 2023, the fair value of assets held by Murray Hill Funding II was $229,265.

For the three and six months ended June 30, 2023 and 2022 and the year ended December 31, 2022, the components of interest expense, average borrowings, and weighted average interest rate for the Amended UBS Facility were as follows:

	Three Months Ended June 30,						Six Months Ended June 30,						Year Ended December 31,
	2023			2022			2023			2022			2022
Stated interest expense	$	2,162		$	1,533		$	4,966		$	2,680		$	7,273
Non-usage fee	89			21			112			68			96
Total interest expense	$	2,251		$	1,554		$	5,078		$	2,748		$	7,369
Weighted average interest rate(1)	8.62		%	4.42		%	8.39		%	4.14		%	5.29		%
Average borrowings	$	103,297		$	139,038		$	120,373		$	132,058		$	137,322

(1)Includes the stated interest expense and non-usage fee on the unused portion of the Amended UBS Facility and is annualized for periods covering less than one year.

Series A Notes

On February 28, 2023, the Company entered into a Deed of Trust, or the Deed of Trust, with Mishmeret Trust Company Ltd., as trustee, under which the Company issued $80,712 in aggregate principal amount of its Series A Unsecured Notes due 2026, or the Series A Notes. The Series A Notes offering in Israel closed on February 28, 2023 and the Series A Notes listed and commenced trading on the TASE on February 28, 2023. After the deduction of fees and other offering expenses, the Company received net proceeds of approximately $77,900, which it used to make investments in portfolio companies in accordance with its investment objectives and for working capital and general corporate purposes. The Series A Notes are rated A1.il by Midroog Ltd., an affiliate of Moody’s. The carrying amount outstanding under the Series A Notes approximates its fair value.

The Series A Notes will mature on August 31, 2026 and may be redeemed in whole or in part at the Company's option at par plus a “make-whole” premium, if applicable, as set forth in the Deed of Trust. The Series A Notes bear interest at a rate equal to SOFR plus a credit spread of 3.82% per year, which will be paid quarterly on February 28, May 31, August 31, and November 30 of each year, which commenced on May 31, 2023. The Series A Notes are general unsecured obligations of the Company that rank senior in right of payment to all of the Company’s existing and future indebtedness that is expressly subordinated in right of payment to the Series A Notes, rank pari passu with all existing and future unsecured unsubordinated indebtedness issued by the Company, rank effectively junior to any of the Company's secured indebtedness (including unsecured indebtedness that the Company later secures) to the extent of the value of the assets securing such indebtedness, and rank structurally junior to all existing and future indebtedness (including trade payables) incurred by the Company's subsidiaries, financing vehicles or similar facilities.

53

CĪON Investment Corporation

Notes to Consolidated Financial Statements (unaudited)

June 30, 2023

(in thousands, except share and per share amounts)

The Deed of Trust contains other terms and conditions, including, without limitation, affirmative and negative covenants such as (i) information reporting, (ii) maintenance of the Company’s status as a BDC within the meaning of the 1940 Act, (iii) minimum shareholders’ equity of $525 million, (iv) a minimum asset coverage ratio of not less than 150%, and (v) an unencumbered asset coverage ratio of 1.25 to 1.00. In addition, the Deed of Trust 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 the Company’s other indebtedness in an outstanding aggregate principal amount of at least $50,000, certain judgments and orders, and certain events of bankruptcy. As of and for the three months ended June 30, 2023, the Company was in compliance with all covenants and reporting requirements.

On February 26, 2023, the Company’s shares of common stock listed and commenced trading on the TASE under the ticker symbol “CION”.

Through June 30, 2023, the Company incurred debt issuance costs of $3,006 in connection with issuing the Series A Notes, which were recorded as a direct reduction to the outstanding balance of the Series A Notes, which is included in the Company’s consolidated balance sheet as of June 30, 2023 and will amortize to interest expense over the term of the Series A Notes. At June 30, 2023, the unamortized portion of the debt issuance costs was $2,714.

For the three months ended June 30, 2023 and the period from February 28, 2023 through June 30, 2023, the components of interest expense, average borrowings, and weighted average interest rate for the Series A Notes were as follows:

	Three Months Ended June 30, 2023			For the Period From February 28, 2023 Through June 30, 2023
Stated interest expense	$	1,781		$	2,399
Amortization of deferred financing costs	212			290
Total interest expense	$	1,993		$	2,689
Weighted average interest rate(1)	8.73		%	8.73		%
Average borrowings	$	80,712		$	80,712

(1) Includes the stated interest expense on the Series A Notes and is annualized for periods covering less than one year.

2022 More Term Loan

On April 27, 2022, the Company entered into an Unsecured Term Loan Facility Agreement, or the More Term Loan Agreement, with More Provident Funds and Pension Ltd., or More Provident, as lender, which provided for an unsecured term loan to the Company in an aggregate principal amount of $50,000, or the 2022 More Term Loan. On April 27, 2022, the Company drew down $50,000 of borrowings under the 2022 More Term Loan. After the deduction of fees and other financing expenses, the Company received net borrowings of approximately $49,000, which it used for working capital and other general corporate purposes. The carrying amount outstanding under the 2022 More Term Loan approximates its fair value.

Advances under the 2022 More Term Loan bear interest at a floating rate equal to the three-month SOFR, plus a credit spread of 3.50% per year and subject to a 1.0% SOFR floor, payable quarterly in arrears. Advances under the 2022 More Term Loan mature on April 27, 2027. The Company has the right to, at its option, prepay all or any portion of advances then outstanding together with a prepayment fee equal to the higher of (i) zero, or (ii) the discounted present value of all remaining interest payments that would have been paid by the Company through the maturity date with respect to the principal amount of such advance that is to be prepaid or becomes due and payable pursuant to the More Term Loan Agreement. The discounted present value portion of the prepayment fee is calculated by applying a discount rate on the same periodic basis as that on which interest on advances is payable equal to the three-month SOFR plus 2.00%.

Advances under the 2022 More Term Loan are general unsecured obligations of the Company that rank pari passu with all existing and future unsecured unsubordinated indebtedness issued by the Company, rank effectively junior to any of the Company’s secured indebtedness (including unsecured indebtedness that the Company later secures) to the extent of the value of the assets securing such indebtedness, and rank structurally junior to all existing and future indebtedness (including trade payables) incurred by certain of the Company’s subsidiaries, financing vehicles or similar facilities.

54

CĪON Investment Corporation

Notes to Consolidated Financial Statements (unaudited)

June 30, 2023

(in thousands, except share and per share amounts)

The More Term Loan Agreement contains other terms and conditions, including, without limitation, affirmative and negative covenants such as (i) information reporting, (ii) maintenance of the Company’s status as a BDC within the meaning of the 1940 Act, (iii) minimum shareholders’ equity of 60% of the Company’s net asset value as of the year ended December 31, 2021 plus 50% of the net cash proceeds of the sale of certain equity interests by the Company after April 27, 2022, if any, (iv) a minimum asset coverage ratio of not less than 150%, and (v) an unencumbered asset coverage ratio of 1.25 to 1.00, provided that (a) first lien senior secured loans and cash represent more than 65% of the total value of unencumbered assets used by the Company for purposes of the ratio and (b) equity interests or structured products in the aggregate represent less than 15% of the total value of unencumbered assets used by the Company for purposes of the ratio. In addition, the More Term Loan Agreement 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 or derivative securities of the Company in an outstanding aggregate principal amount of at least $25,000, certain judgments and orders, and certain events of bankruptcy. As of and for the three months ended June 30, 2023, the Company was in compliance with all covenants and reporting requirements.

Through June 30, 2023, the Company incurred debt issuance costs of $1,025 in connection with obtaining the 2022 More Term Loan, which were recorded as a direct reduction to the outstanding balance of the 2022 More Term Loan, which is included in the Company’s consolidated balance sheet as of June 30, 2023 and will amortize to interest expense over the term of the 2022 More Term Loan. At June 30, 2023, the unamortized portion of the debt issuance costs was $784.

For the three and six months ended June 30, 2023, for the period from April 27, 2022 through June 30, 2022 and for the period from April 27, 2022 through December 31, 2022, the components of interest expense, average borrowings, and weighted average interest rate for the 2022 More Term Loan were as follows:

	Three Months Ended June 30, 2023			Six Months Ended June 30, 2023			For the Period From April 27, 2022 Through June 30, 2022			For the Period From April 27, 2022 Through December 31, 2022
Stated interest expense	$	1,061		$	2,073		$	410		$	2,027
Amortization of deferred financing costs	51			102			36			140
Total interest expense	$	1,112		$	2,175		$	446		$	2,167
Weighted average interest rate(1)	8.40		%	8.25		%	4.54		%	5.86		%
Average borrowings	$	50,000		$	50,000		$	50,000		$	50,000

(1) Includes the stated interest expense on the 2022 More Term Loan and is annualized for periods covering less than one year.

2021 More Term Loan

On April 14, 2021, the Company entered into an Unsecured Term Loan Facility Agreement, or the Term Loan Agreement, with More Provident Funds Ltd., or More, as lender. The Term Loan Agreement with More, or the 2021 More Term Loan, provided for an unsecured term loan to the Company in an aggregate principal amount of $30,000. On April 20, 2021, the Company drew down $30,000 of borrowings under the 2021 More Term Loan. After the deduction of fees and other financing expenses, the Company received net borrowings of approximately $29,000, which the Company used for working capital and other general corporate purposes.

Advances under the 2021 More Term Loan mature on September 30, 2024, and bear interest at a rate of 5.20% per year payable quarterly in arrears. The Company has the right to, at its option, prepay all or any portion of advances then outstanding together with a prepayment fee equal to the higher of (i) zero, or (ii) the discounted present value of all remaining interest payments that would have been paid by the Company through the maturity date with respect to the principal amount of such advance that is to be prepaid or becomes due and payable pursuant to the Term Loan Agreement. The discounted present value portion of the prepayment fee is calculated by applying a discount rate on the same periodic basis as that on which interest on advances is payable equal to the sum of 2.00% plus the yield to maturity of the most recently issued U.S. Treasury securities having a maturity equal to the remaining average life of the 2021 More Term Loan, or if there are no such U.S. Treasury securities, using such implied yield to maturity determined in accordance with the terms of the Term Loan Agreement.

Advances under the 2021 More Term Loan are general unsecured obligations of the Company that rank pari passu with all existing and future unsecured unsubordinated indebtedness issued by the Company, rank effectively junior to the Company's secured indebtedness (including unsecured indebtedness that the Company later secures) to the extent of the value of the assets securing such indebtedness, and rank structurally junior to all existing and future indebtedness (including trade payables) incurred by certain of the Company's subsidiaries, financing vehicles or similar facilities.

55

CĪON Investment Corporation

Notes to Consolidated Financial Statements (unaudited)

June 30, 2023

(in thousands, except share and per share amounts)

The Term Loan Agreement contains other terms and conditions, including, without limitation, affirmative and negative covenants such as (i) information reporting, (ii) maintenance of the Company's status as a BDC within the meaning of the 1940 Act, (iii) minimum shareholders’ equity of 60% of the Company’s net asset value as of the year ended December 31, 2020 plus 50% of the net cash proceeds of the sale of certain equity interests by the Company after April 14, 2021, if any, (iv) a minimum asset coverage ratio of not less than 150%, and (v) an unencumbered asset coverage ratio of 1.25 to 1.00, provided that (a) first lien senior secured loans and cash represent more than 65% of the total value of unencumbered assets used by the Company for purposes of the ratio and (b) equity interests or structured products in the aggregate represent less than 15% of the total value of unencumbered assets used by the Company for purposes of the ratio. In addition, the Term Loan Agreement 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 or derivative securities of the Company in an outstanding aggregate principal amount of at least $25,000, certain judgments and orders, and certain events of bankruptcy. As of and for the three months ended June 30, 2023, the Company was in compliance with all covenants and reporting requirements.

Through June 30, 2023, the Company incurred debt issuance costs of $992 in connection with obtaining the 2021 More Term Loan, which were recorded as a direct reduction to the outstanding balance of the 2021 More Term Loan, which is included in the Company’s consolidated balance sheet as of June 30, 2023 and will amortize to interest expense over the term of the 2021 More Term Loan. At June 30, 2023, the unamortized portion of the debt issuance costs was $354.

For the three and six months ended June 30, 2023 and 2022 and the year ended December 31, 2022, the components of interest expense, average borrowings, and weighted average interest rate for the 2021 More Term Loan were as follows:

	Three Months Ended June 30,						Six Months Ended June 30,						Year Ended December 31, 2022
	2023			2022			2023			2022
Stated interest expense	$	394		$	394		$	784		$	784		$	1,582
Amortization of deferred financing costs	72			72			143			143			288
Total interest expense	$	466		$	466		$	927		$	927		$	1,870
Weighted average interest rate(1)	5.20		%	5.20		%	5.20		%	5.20		%	5.20		%
Average borrowings	$	30,000		$	30,000		$	30,000		$	30,000		$	30,000

(1) Includes the stated interest expense on the 2021 More Term Loan and is annualized for periods covering less than one year.

Note 9. Fair Value of Financial Instruments

The following table presents fair value measurements of the Company’s portfolio investments as of June 30, 2023 and December 31, 2022, according to the fair value hierarchy: 

	June 30, 2023(1)								December 31, 2022(2)
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Senior secured first lien debt	$	—	$	—	$	1,468,630	$	1,468,630	$	—	$	—	$	1,579,512	$	1,579,512
Senior secured second lien debt	—		—		39,544		39,544		—		—		38,769		38,769
Collateralized securities and structured products - equity	—		—		1,046		1,046		—		—		1,179		1,179
Unsecured debt	—		—		17,301		17,301		—		—		22,643		22,643
Equity	2,266		—		133,725		135,991		2,341		—		73,951		76,292
Short term investments	100,771		—		—		100,771		10,869		—		—		10,869
Total Investments	$	103,037	$	—	$	1,660,246	$	1,763,283	$	13,210	$	—	$	1,716,054	$	1,729,264

(1)Excludes the Company's $25,179 investment in CION/EagleTree, which is measured at NAV.

(2)Excludes the Company's $30,766 investment in CION/EagleTree, which is measured at NAV.

56

CĪON Investment Corporation

Notes to Consolidated Financial Statements (unaudited)

June 30, 2023

(in thousands, except share and per share amounts)

The following tables provide a reconciliation of the beginning and ending balances for investments that use Level 3 inputs for the three and six months ended June 30, 2023 and 2022:

	Three Months Ended June 30, 2023
	Senior Secured First Lien Debt		Senior Secured Second Lien Debt		Collateralized Securities and Structured Products - Equity		Unsecured Debt		Equity		Total
Beginning balance, March 31, 2023	$	1,472,453	$	38,997	$	1,133	$	15,517	$	100,958	$	1,629,058
Investments purchased(2)(3)	77,961		—		—		4,200		29,396		111,557
Net realized loss	(13,163)		—		—		—		(5,765)		(18,928)
Net change in unrealized appreciation (depreciation)	16,708		496		9		(2,420)		9,136		23,929
Accretion of discount	2,541		56		—		4		—		2,601
Sales and principal repayments(3)	(87,870)		(5)		(96)		—		—		(87,971)
Ending balance, June 30, 2023	$	1,468,630	$	39,544	$	1,046	$	17,301	$	133,725	$	1,660,246
Change in net unrealized appreciation (depreciation) on investments still held as of June 30, 2023(1)	$	5,280	$	496	$	9	$	(2,420)	$	3,367	$	6,732

(1)Included in net change in unrealized appreciation (depreciation) on investments in the consolidated statements of operations.

(2)Investments purchased includes PIK interest.

(3)Includes non-cash restructured securities.

	Six Months Ended June 30, 2023
	Senior Secured First Lien Debt		Senior Secured Second Lien Debt		Collateralized Securities and Structured Products - Equity		Unsecured Debt		Equity		Total
Beginning balance, December 31, 2022	$	1,579,512	$	38,769	$	1,179	$	22,643	$	73,951	$	1,716,054
Investments purchased(2)(3)	118,713		—		—		4,200		65,329		188,242
Net realized loss	(17,674)		—		—				(5,779)		(23,453)
Net change in unrealized (depreciation) appreciation	(18,686)		659		44		(9,550)		224		(27,309)
Accretion of discount	6,810		125		—		8		—		6,943
Sales and principal repayments(3)	(200,045)		(9)		(177)		—		—		(200,231)
Ending balance, June 30, 2023	$	1,468,630	$	39,544	$	1,046	$	17,301	$	133,725	$	1,660,246
Change in net unrealized (depreciation) appreciation on investments still held as of June 30, 2023(1)	$	(22,169)	$	659	$	44	$	(9,550)	$	(15)	$	(31,031)

(1)Included in net change in unrealized appreciation (depreciation) on investments in the consolidated statements of operations.

(2)Investments purchased includes PIK interest.

(3)Includes non-cash restructured securities.

57

CĪON Investment Corporation

Notes to Consolidated Financial Statements (unaudited)

June 30, 2023

(in thousands, except share and per share amounts)

	Three Months Ended June 30, 2022
	Senior Secured First Lien Debt		Senior Secured Second Lien Debt		Collateralized Securities and Structured Products - Equity		Unsecured Debt		Equity		Total
Beginning balance, March 31, 2022	$	1,597,364	$	36,875	$	2,632	$	27,280	$	42,405	$	1,706,556
Investments purchased(2)	175,707		1,836		—		650		1,008		179,201
Net realized (loss) gain	(34)		10		—		—		204		180
Net change in unrealized (depreciation) appreciation	(21,144)		3,021		(176)		61		(229)		(18,467)
Accretion of discount	2,131		344		—		3		—		2,478
Sales and principal repayments	(93,196)		(15,000)		(854)		—		(503)		(109,553)
Ending balance, June 30, 2022	$	1,660,828	$	27,086	$	1,602	$	27,994	$	42,885	$	1,760,395
Change in net unrealized (depreciation) appreciation on investments still held as of June 30, 2022(1)	$	(21,519)	$	525	$	(176)	$	61	$	(229)	$	(21,338)

(1)Included in net change in unrealized appreciation (depreciation) on investments in the consolidated statements of operations.

(2)Investments purchased includes PIK interest.

	Six Months Ended June 30, 2022
	Senior Secured First Lien Debt		Senior Secured Second Lien Debt		Collateralized Securities and Structured Products - Equity		Unsecured Debt		Equity		Total
Beginning balance, December 31, 2021	$	1,526,989	$	38,583	$	2,998	$	26,616	$	37,736	$	1,632,922
Investments purchased(2)	317,499		1,836		—		1,273		2,133		322,741
Net realized (loss) gain	(107)		14		—		—		204		111
Net change in unrealized (depreciation) appreciation	(34,050)		1,221		(352)		98		3,315		(29,768)
Accretion of discount	4,535		432		—		7		—		4,974
Sales and principal repayments	(154,038)		(15,000)		(1,044)		—		(503)		(170,585)
Ending balance, June 30, 2022	$	1,660,828	$	27,086	$	1,602	$	27,994	$	42,885	$	1,760,395
Change in net unrealized (depreciation) appreciation on investments still held as of June 30, 2022(1)	$	(34,992)	$	873	$	(352)	$	98	$	3,315	$	(31,058)

(1)Included in net change in unrealized appreciation (depreciation) on investments in the consolidated statements of operations.

(2)Investments purchased includes PIK interest.

58

CĪON Investment Corporation

Notes to Consolidated Financial Statements (unaudited)

June 30, 2023

(in thousands, except share and per share amounts)

Significant Unobservable Inputs

The valuation techniques and significant unobservable inputs used in recurring Level 3 fair value measurements of investments as of June 30, 2023 and December 31, 2022 were as follows:

	June 30, 2023
	Fair Value		Valuation Techniques/ Methodologies	Unobservable Inputs	Range			Weighted Average(1)
Senior secured first lien debt	$	1,281,080	Discounted Cash Flow	Discount Rates	7.5%	—	40.0%	13.8%
	110,747		Broker Quotes	Broker Quotes	N/A			N/A
	53,487		Market Comparable Approach	Revenue Multiple	0.17x	—	1.55x	1.00x
	19,036			EBITDA Multiple	4.00x	—	9.75x	6.15x
	3,794			$ per kW	$129.77			N/A
	486		Other(2)	Other(2)	N/A			N/A
Senior secured second lien debt	39,544		Discounted Cash Flow	Discount Rates	13.5%	—	20.5%	16.8%
Collateralized securities and structured products - equity	1,046		Discounted Cash Flow	Discount Rates	21.0%			N/A
Unsecured debt	9,888		Contingent Claims Analysis	Expected Volatility	110.0%			N/A
	7,413		Discounted Cash Flow	Discount Rates	16.5%			N/A
Equity	80,099		Market Comparable Approach	EBITDA Multiple	4.75x	—	14.75x	9.74x
	21,680			$ per kW	$400			N/A
	31,204			Revenue Multiple	0.13x	—	6.00x	1.05x
	742		Broker Quotes	Broker Quotes	N/A			N/A
Total	$	1,660,246

(1)Weighted average amounts are based on the estimated fair values.

(2)Fair value is based on the expected outcome of proposed corporate transactions and/or other factors.

59

CĪON Investment Corporation

Notes to Consolidated Financial Statements (unaudited)

June 30, 2023

(in thousands, except share and per share amounts)

	December 31, 2022
	Fair Value		Valuation Techniques/ Methodologies	Unobservable Inputs	Range			Weighted Average(1)
Senior secured first lien debt	$	1,471,816	Discounted Cash Flow	Discount Rates	6.5%	—	34.0%	14.7%
	79,035		Broker Quotes	Broker Quotes	N/A			N/A
	20,050		Market Comparable Approach	Revenue Multiple	0.25x	—	1.70x	1.19x
	4,527			$ per kW	$131.85			N/A
	3,552			EBITDA Multiple	2.75x	—	4.25x	4.09x
	532		Other(2)	Other(2)	N/A			N/A
Senior secured second lien debt	38,769		Discounted Cash Flow	Discount Rates	14.3%	—	21.5%	17.2%
Collateralized securities and structured products - equity	1,179		Discounted Cash Flow	Discount Rates	21.0%			N/A
Unsecured debt	15,316		Market Comparable Approach	EBITDA Multiple	9.25x			N/A
	7,327		Discounted Cash Flow	Discount Rates	17.7%			N/A
Equity	33,441		Market Comparable Approach	EBITDA Multiple	2.75x	—	14.55x	7.02x
	23,995			$ per kW	$412.5			N/A
	13,038			Revenue Multiple	0.13x	—	5.75x	2.93x
	2,238		Discounted Cash Flow	Discount Rates	16.8%			N/A
	1,234		Broker Quotes	Broker Quotes	N/A			N/A
	5		Options Pricing Model	Expected Volatility	80.0%	—	90.0%	87.3%
Total	$	1,716,054

(1)Weighted average amounts are based on the estimated fair values.

(2)Fair value is based on the expected outcome of proposed corporate transactions and/or other factors.

The significant unobservable inputs used in the fair value measurement of the Company’s senior secured first lien debt, senior secured second lien debt, collateralized securities and structured products, unsecured debt and equity are discount rates, EBITDA multiples, revenue multiples, broker quotes and expected volatility. A significant increase or decrease in discount rates would result in a significantly lower or higher fair value measurement, respectively. A significant increase or decrease in the EBITDA multiples, revenue multiples, expected proceeds from proposed corporate transactions, broker quotes and expected volatility would result in a significantly higher or lower fair value measurement, respectively.

Note 10. General and Administrative Expense

General and administrative expense consisted of the following items for the three and six months ended June 30, 2023 and 2022 and the year ended December 31, 2022:

	Three Months Ended June 30,				Six Months Ended June 30,				Year Ended December 31,
	2023		2022		2023		2022		2022
Professional fees	$	645	$	519	$	1,171	$	1,152	$	1,778
Transfer agent expense	279		303		547		594		1,124
Dues and subscriptions	44		80		473		615		791
Valuation expense	252		212		425		391		821
Director fees and expenses	179		161		348		315		632
Insurance expense	169		254		336		505		833
Accounting and administrative costs	158		145		324		302		524
Printing and marketing expense	269		28		274		33		708
Other expenses	79		10		131		27		67
Total general and administrative expense	$	2,074	$	1,712	$	4,029	$	3,934	$	7,278

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CĪON Investment Corporation

Notes to Consolidated Financial Statements (unaudited)

June 30, 2023

(in thousands, except share and per share amounts)

Note 11. Commitments and Contingencies

The Company entered into certain contracts with related and other parties that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not experienced claims or losses pursuant to these contracts and believes the risk of loss related to such indemnifications to be remote.

As of June 30, 2023 and December 31, 2022, the Company’s unfunded commitments were as follows:

Unfunded Commitments	June 30, 2023(1)		December 31, 2022(1)
Cennox, Inc.	$	7,193	$	7,567
Flatworld Intermediate Corp.	5,865		5,865
Critical Nurse Staffing, LLC	5,439		5,599
Thrill Holdings LLC	5,000		3,261
Instant Web, LLC	3,574		5,628
American Health Staffing Group, Inc.	3,333		3,333
Mimeo.com, Inc.	2,500		3,000
Rogers Mechanical Contractors, LLC	2,404		3,365
Moss Holding Company	2,232		2,232
HW Acquisition, LLC	2,200		2,200
MacNeill Pride Group Corp.	2,017		2,017
Archer Systems, LLC	1,905		1,905
Bradshaw International Parent Corp.	1,844		1,844
Dermcare Management, LLC	1,683		1,862
Coyote Buyer, LLC	1,500		2,500
Sleep Opco, LLC	1,200		1,750
NWN Parent Holdings LLC	1,200		90
RA Outdoors, LLC	1,049		1,049
BDS Solutions Intermediateco, LLC	1,046		1,998
OpCo Borrower, LLC	1,042		833
Service Compression, LLC	907		4,186
Invincible Boat Company LLC	319		559
Ironhorse Purchaser, LLC	299		2,469
American Teleconferencing Services, Ltd.	235		235
H.W. Lochner, Inc.	225		225
Anthem Sports & Entertainment Inc.	167		167
Homer City Holdings LLC	—		3,000
RumbleOn, Inc.	—		1,775
WorkGenius, Inc.	—		750
STATinMED, LLC	—		156
Total	$	56,378	$	71,420

(1)Unless otherwise noted, the funding criteria for these unfunded commitments had not been met at the date indicated.

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CĪON Investment Corporation

Notes to Consolidated Financial Statements (unaudited)

June 30, 2023

(in thousands, except share and per share amounts)

Unfunded commitments to provide funds to companies are not recorded on the Company’s consolidated balance sheets. Since these commitments may expire without being drawn upon, unfunded commitments do not necessarily represent future cash requirements or future earning assets for the Company. The Company intends to use cash on hand, short-term investments, proceeds from borrowings, and other liquid assets to fund these commitments should the need arise. For information on the companies to which the Company is committed to fund additional amounts as of June 30, 2023 and December 31, 2022, refer to the table above and the consolidated schedules of investments. As of August 2, 2023, the Company was committed, upon the satisfaction of certain conditions, to fund an additional $54,475.

The Company will fund its unfunded commitments from the same sources it uses to fund its investment commitments that are funded at the time they are made (i.e., advances from its financing arrangements and/or cash flows from operations). The Company will not fund its unfunded commitments from future net proceeds generated by securities offerings, if any. The Company follows a process to manage its liquidity and ensure that it has available capital to fund its unfunded commitments. Specifically, the Company prepares detailed analyses of the level of its unfunded commitments relative to its then available liquidity on a daily basis.  These analyses are reviewed and discussed on a weekly basis by the Company's executive officers and senior members of CIM (including members of the investment committee) and are updated on a “real time” basis in order to ensure that the Company has adequate liquidity to satisfy its unfunded commitments.

Note 12. Fee Income

Fee income consists of amendment fees, capital structuring and other fees, conversion fees, commitment fees and administrative agent fees. The following table summarizes the Company’s fee income for the three and six months ended June 30, 2023 and 2022 and the year ended December 31, 2022:

	Three Months Ended June 30,				Six Months Ended June 30,				Year Ended December 31,
	2023		2022		2023		2022		2022
Amendment fees	$	622	$	575	$	3,346	$	970	$	2,633
Capital structuring and other fees	532		1,992		532		3,014		4,446
Conversion fees	477		—		477		—		2,365
Commitment fees	—		—		309		—		—
Administrative agent fees	—		—		30		25		100
Total	$	1,631	$	2,567	$	4,694	$	4,009	$	9,544

Administrative agent fees are recurring income as long as the Company remains the administrative agent for the related investment. Income from all other fees was non-recurring.

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CĪON Investment Corporation

Notes to Consolidated Financial Statements (unaudited)

June 30, 2023

(in thousands, except share and per share amounts)

Note 13. Financial Highlights

The following is a schedule of financial highlights as of and for the six months ended June 30, 2023 and 2022 and the year ended December 31, 2022:

	Six Months Ended June 30,						Year Ended December 31,
	2023			2022			2022
Per share data:(1)
Net asset value at beginning of period	$	15.98		$	16.34		$	16.34
Results of operations:
Net investment income	0.97			0.68			1.56
Net realized loss and net change in unrealized depreciation on investments and loss on foreign currency(2)	(1.02)			(0.57)			(0.68)
Net (decrease) increase in net assets resulting from operations(2)	(0.05)			0.11			0.88
Shareholder distributions:
Distributions from net investment income	(0.68)			(0.56)			(1.44)
Net decrease in net assets resulting from shareholders' distributions	(0.68)			(0.56)			(1.44)
Capital share transactions:
Repurchases of common stock below net asset value(3)	0.06			—			0.20
Net increase in net assets resulting from capital share transactions	0.06			—			0.20
Net asset value at end of period	$	15.31		$	15.89		$	15.98
Shares of common stock outstanding at end of period	54,632,827			56,958,440			55,299,484
Total investment return-net asset value(4)	2.29		%	1.87		%	10.44		%
Total investment return-market value(5)	13.66		%	(30.29)		%	(14.87)		%
Net assets at beginning of period	$	883,634		$	930,512		$	930,512
Net assets at end of period	$	836,364		$	905,238		$	883,634
Average net assets	$	858,277		$	926,144		$	917,781
Ratio/Supplemental data:
Ratio of net investment income to average net assets	6.21		%	4.19		%	9.61		%
Ratio of net operating expenses to average net assets	8.18		%	5.02		%	11.63		%
Portfolio turnover rate(6)	5.48		%	9.96		%	26.81		%
Total amount of senior securities outstanding	$	985,712		$	947,500		$	957,500
Asset coverage ratio(7)	1.85			1.96			1.92

(1)The per share data for the six months ended June 30, 2023 and 2022 and the year ended December 31, 2022 was derived by using the weighted average shares of common stock outstanding during each period.

(2)The amount shown for net realized loss, net change in unrealized depreciation on investments and loss on foreign currency is the balancing figure derived from the other figures in the schedule. The amount shown at this caption for a share outstanding throughout the period may not agree with the change in the aggregate gains and losses in portfolio securities for the period because of the timing of sales and repurchases of the Company’s shares in relation to fluctuating market values for the portfolio. As a result, net (decrease) increase in net assets resulting from operations in this schedule may vary from the consolidated statements of operations.

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CĪON Investment Corporation

Notes to Consolidated Financial Statements (unaudited)

June 30, 2023

(in thousands, except share and per share amounts)

(3)Repurchases of common stock may have caused an incremental decrease or increase in net asset value per share due to the repurchase of shares at a price in excess of or below net asset value per share, respectively, on each repurchase date. The per share impact of repurchases of common stock was a decrease to net asset value of less than $0.01 per share during the six months ended June 30, 2023 and 2022 and the year ended December 31, 2022.

(4)Total investment return-net asset value is a measure of the change in total value for shareholders who held the Company’s common stock at the beginning and end of the period, including distributions paid or payable during the period. Total investment return-net asset value is based on (i) the beginning period net asset value per share on the first day of the period, (ii) the net asset value per share on the last day of the period of (A) one share plus (B) any fractional shares issued in connection with the reinvestment of distributions, and (iii) the value of distributions payable, if any, on the last day of the period. The total investment return-net asset value calculation assumes that distributions are reinvested in accordance with the Company's distribution reinvestment plan then in effect as described in Note 5. The total investment return-net asset value does not consider the effect of the sales load from the sale of the Company’s common stock. The total investment return-net asset value includes the effect of the issuance of shares at a net offering price that is greater than net asset value per share, which causes an increase in net asset value per share. Total returns covering less than a full year are not annualized.

(5)Total investment return-market value for the six months ended June 30, 2023 and 2022 and the year ended December 31, 2022 was calculated by taking the change in the market price of the Company's common stock since the first day of the period, and including the impact of distributions reinvested in accordance with the Company’s New DRP. Total investment return-market value does not consider the effect of any sales commissions or charges that may be incurred in connection with the sale of shares of the Company’s common stock. The historical calculation of total investment return-market value in the table should not be considered a representation of the Company’s future total return based on market value, which may be greater or less than the return shown in the table due to a number of factors, including the Company’s ability or inability to make investments in companies that meet its investment criteria, the interest rates payable on the debt securities the Company acquires, the level of the Company’s expenses, variations in and the timing of the recognition of realized and unrealized gains or losses, the degree to which the Company encounters competition in its markets, general economic conditions and fluctuations in per share market value. As a result of these factors, results for any previous period should not be relied upon as being indicative of performance in future periods.

(6)Portfolio turnover rate is calculated using the lesser of year-to-date sales or purchases over the average of the invested assets at fair value, excluding short term investments, and is not annualized.

(7)Asset coverage ratio is equal to (i) the sum of (a) net assets at the end of the period and (b) total senior securities outstanding at the end of the period (excluding unfunded commitments), divided by (ii) total senior securities outstanding at the end of the period.

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

As used in this Quarterly Report on Form 10-Q, “we,” “us,” “our” or similar terms include CĪON Investment Corporation and its consolidated subsidiaries. In addition, the term "portfolio companies" refers to companies in which we have invested, either directly or indirectly through our consolidated subsidiaries.

The following discussion should be read in conjunction with our unaudited consolidated financial statements and related notes appearing elsewhere in this Quarterly Report on Form 10-Q and the audited consolidated financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2022. In addition to historical information, the following discussion and other parts of this Quarterly Report on Form 10-Q contain forward-looking information that involves risks and uncertainties. Amounts and percentages presented herein may have been rounded for presentation and all dollar amounts, excluding share and per share amounts, are presented in thousands unless otherwise noted.

Forward-Looking Statements

Some of the statements within this Quarterly Report on Form 10-Q constitute forward-looking statements because they relate to future events or our future performance or financial condition. The forward-looking statements contained in this Quarterly Report on Form 10-Q involve numerous risks and uncertainties, including statements as to:

•our future operating results;

•our business prospects and the prospects of our portfolio companies, including our and their ability to achieve our respective objectives as a result of inflation, rising interest rates, supply-chain disruptions and the risk of recession;

•the impact of the investments that we expect to make;

•the ability of our portfolio companies to achieve their objectives;

•our current and expected financings and investments;

•the adequacy of our cash resources, financing sources and working capital;

•the use of borrowed money to finance a portion of our investments;

•the timing of cash flows, if any, from the operations of our portfolio companies;

•our contractual arrangements and relationships with third parties;

•the actual and potential conflicts of interest with CIM and its affiliates;

•the ability of CIM's investment professionals to locate suitable investments for us and the ability of CIM to monitor and administer our investments;

•the ability of CIM and its affiliates to attract and retain highly talented professionals;

•the dependence of our future success on the general economy and its impact on the industries in which we invest, including inflation, rising interest rates and supply-chain disruptions and the related economic disruptions caused thereby;

•the effects of a changing interest rate environment;

•our ability to source favorable private investments;

•our tax status;

•the effect of changes to tax legislation and our tax position;

•the tax status of the companies in which we invest; and

•the timing and amount of distributions and dividends from the companies in which we invest.

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In addition, words such as “anticipate,” “believe,” “expect” and “intend” indicate a forward-looking statement, although not all forward-looking statements include these words. The forward-looking statements contained in this Quarterly Report on Form 10-Q involve risks and uncertainties. Our actual results could differ materially from those implied or expressed in the forward-looking statements for any reason, including the factors set forth in “Risk Factors” in Item 1A of Part II of this Quarterly Report on Form 10-Q. Other factors that could cause actual results to differ materially include: 

•changes in the economy;

•risks associated with possible disruption in our operations or the economy generally due to terrorism, pandemics, or natural disasters;

•future changes in laws or regulations and conditions in our operating areas;

•the price at which shares of our common stock may trade on and volume fluctuations in the NYSE; and

•the costs associated with being a publicly traded company.

We have based the forward-looking statements on information available to us on the date of this Quarterly Report on Form 10-Q. Except as required by the federal securities laws, we undertake no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise. You are advised to review any additional disclosures that we may make directly to you or through reports that we in the future may file with the SEC, including annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. The forward-looking statements contained in this Quarterly Report on Form 10-Q are excluded from the safe harbor protection provided by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.

Overview

We were incorporated under the general corporation laws of the State of Maryland on August 9, 2011 and commenced operations on December 17, 2012 upon raising proceeds of $2,500 from persons not affiliated with us, CIM or its affiliates. We are an externally managed, non-diversified, closed-end management investment company that has elected to be regulated as a BDC under the 1940 Act. We elected to be treated for federal income tax purposes as a RIC, as defined under Subchapter M of the Code.

Our investment objective is to generate current income and, to a lesser extent, capital appreciation for investors. Our portfolio is comprised primarily of investments in senior secured debt, including first lien loans, second lien loans and unitranche loans, and, to a lesser extent, collateralized securities, structured products and other similar securities, unsecured debt, and equity, of private and thinly-traded U.S. middle-market companies. In connection with our debt investments, we may receive equity interests such as warrants or options as additional consideration. We may also purchase equity interests in the form of common or preferred stock in our target companies, either in conjunction with one of our debt investments or through a co-investment with a financial sponsor.

On October 5, 2021, shares of our common stock began trading on the NYSE under the ticker symbol “CION”. The Listing accomplished our goal of providing our shareholders with greatly enhanced liquidity. On February 26, 2023, our shares of common stock also listed and commenced trading on the TASE under the ticker symbol “CION”.

We are managed by CIM, our affiliate and a registered investment adviser. Pursuant to an investment advisory agreement with us, CIM oversees the management of our activities and is responsible for making investment decisions for our portfolio. On August 7, 2023, our board of directors, including a majority of directors who are not interested persons, approved the renewal of the second amended and restated investment advisory agreement with CIM for a period of twelve months, commencing August 9, 2023. We and CIM previously engaged AIM to act as our investment sub-adviser.

On July 11, 2017, the members of CIM entered into the Third Amended CIM LLC Agreement for the purpose of creating a joint venture between AIM and CIG. Under the Third Amended CIM LLC Agreement, AIM became a member of CIM and was issued a newly-created class of membership interests in CIM pursuant to which AIM, among other things, shares in the profits, losses, distributions and expenses of CIM with the other members in accordance with the terms of the Third Amended CIM LLC Agreement, which results in CIG and AIM each owning a 50% economic interest in CIM.

On July 10, 2017, our independent directors unanimously approved the termination of the investment sub-advisory agreement with AIM, effective as of July 11, 2017, as part of the new and ongoing relationship among us, CIM and AIM. Although the investment sub-advisory agreement and AIM's engagement as our investment sub-adviser were terminated, AIM continues to perform certain services for CIM and us. AIM is not paid a separate fee in exchange for such services, but is entitled to receive distributions as a member of CIM as described above.

66

On December 4, 2017, the members of CIM entered into the Fourth Amended CIM LLC Agreement under which AIM performs certain services for CIM, which include, among other services, providing (a) trade and settlement support; (b) portfolio and cash reconciliation; (c) market pipeline information regarding syndicated deals, in each case, as reasonably requested by CIM; and (d) monthly valuation reports and support for all broker-quoted investments. AIM may also, from time to time, provide us with access to potential investment opportunities made available on Apollo's credit platform on a similar basis as other third-party market participants. All of our investment decisions are the sole responsibility of, and are made at the sole discretion of, CIM's investment committee, which consists entirely of CIG senior personnel.

Upon the occurrence of the Listing on October 5, 2021, we and CIM entered into the second amended and restated investment advisory agreement in order to implement the changes to the advisory fees payable from us to CIM that (i) reduced the annual base management fee, (ii) amended the structure of the subordinated incentive fee on income payable from us to CIM and reduced the hurdle and incentive fee rates, and (iii) reduced the incentive fee on capital gains payable from us to CIM (as described in further detail in Notes 2 and 4 to our consolidated financial statements included in this report).

We seek to meet our investment objective by utilizing the experienced management team of CIM, which includes its access to the relationships and human capital of its affiliates in sourcing, evaluating and structuring transactions, as well as monitoring and servicing our investments. We focus primarily on the senior secured debt of private and thinly-traded U.S. middle-market companies, which we define as companies that generally possess annual EBITDA of $75 million or less, with experienced management teams, significant free cash flow, strong competitive positions and potential for growth.

Revenue

We primarily generate revenue in the form of interest income on the debt securities that we hold and capital gains on debt or other equity interests that we acquire in portfolio companies. The majority of our senior debt investments bear interest at a floating rate. Interest on debt securities is generally payable quarterly or monthly. In some cases, some of our investments may provide for deferred interest payments or PIK interest. The principal amount of the debt securities and any accrued, but unpaid, interest generally will become due at the maturity date. In addition, we may generate revenue in the form of commitment and capital structuring fees, monitoring fees, fees for providing managerial assistance and possibly consulting fees and performance-based fees. Any such fees generated in connection with our investments will be recognized when earned.

Operating Expenses

Our primary operating expenses are the payment of management fees and subordinated incentive fees on income under the investment advisory agreement and interest expense on our financing arrangements. Our investment advisory fees compensate CIM for its work in identifying, evaluating, negotiating, executing, monitoring and servicing our investments. We bear all other expenses of our operations and transactions.

Recent Developments

Q3 2023 Regular and Supplemental Distributions

On August 7, 2023, our co-chief executive officers declared (i) a regular quarterly distribution of $0.34 per share for the third quarter of 2023 payable on September 15, 2023 to shareholders of record as of September 1, 2023 and (ii) a supplemental distribution of $0.05 per share for both the third and fourth quarters of 2023, payable on October 16, 2023 and January 15, 2024, respectively, to shareholders of record as of September 29, 2023 and December 29, 2023, respectively.

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Portfolio Investment Activity for the Three and Six Months Ended June 30, 2023 and 2022 and the Year Ended December 31, 2022

The following table summarizes our investment activity, excluding short term investments and PIK securities, for the three and six months ended June 30, 2023 and 2022 and the year ended December 31, 2022:

	Three Months Ended June 30,				Six Months Ended June 30,				Year Ended December 31,
Net Investment Activity	2023		2022		2023		2022		2022
Purchases and drawdowns
Senior secured first lien debt	$	62,779	$	170,379	$	83,827	$	307,077	$	524,293
Senior secured second lien debt	—		1,836		—		1,836		19,932
Unsecured debt	4,200		—		4,200		—		—
Equity	2,906		1,009		4,906		2,134		6,313
Sales and principal repayments	(54,599)		(109,553)		(120,873)		(170,584)		(469,760)
Net portfolio activity	$	15,286	$	63,671	$	(27,940)	$	140,463	$	80,778

The following tables summarize the composition of our investment portfolio at amortized cost and fair value as of June 30, 2023 and December 31, 2022:

	June 30, 2023
	Investments Cost(1)		Investments Fair Value		Percentage of Investment Portfolio
Senior secured first lien debt	$	1,546,799	$	1,468,630	87.0	%
Senior secured second lien debt	41,153		39,544		2.3	%
Collateralized securities and structured products - equity	2,510		1,046		0.1	%
Unsecured debt	34,635		17,301		1.0	%
Equity	139,145		161,170		9.6	%
Subtotal/total percentage	1,764,242		1,687,691		100.0	%
Short term investments(2)	100,771		100,771
Total investments	$	1,865,013	$	1,788,462
Number of portfolio companies					112
Average annual EBITDA of portfolio companies			$61.0 million
Median annual EBITDA of portfolio companies					$35.0 million
Purchased at a weighted average price of par					97.91	%
Gross annual portfolio yield based upon the purchase price(3)					11.45	%

(1)Represents amortized cost for debt investments and cost for equity investments. Amortized cost represents the original cost adjusted for the amortization of premiums and/or accretion of discounts, as applicable, on our investments.

(2)Short term investments represent an investment in a fund that invests in highly liquid investments with average original maturity dates of three months or less.

(3)The gross annual portfolio yield does not represent and may be higher than an actual investment return to shareholders because it excludes our expenses and all sales commissions and dealer manager fees and does not consider the cost of leverage.

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	December 31, 2022
	Investments Cost(1)		Investments Fair Value		Percentage of Investment Portfolio
Senior secured first lien debt	$	1,638,995	$	1,579,512	90.3	%
Senior secured second lien debt	41,036		38,769		2.2	%
Collateralized securities and structured products - equity	2,687		1,179		0.1	%
Unsecured debt	30,427		22,643		1.3	%
Equity	79,595		107,058		6.1	%
Subtotal/total percentage	1,792,740		1,749,161		100.0	%
Short term investments(2)	10,869		10,869
Total investments	$	1,803,609	$	1,760,030
Number of portfolio companies					113
Average annual EBITDA of portfolio companies			$55.2 million
Median annual EBITDA of portfolio companies			$35.0 million
Purchased at a weighted average price of par					97.81	%
Gross annual portfolio yield based upon the purchase price(3)					11.80	%

(1)Represents amortized cost for debt investments and cost for equity investments. Amortized cost represents the original cost adjusted for the amortization of premiums and/or accretion of discounts, as applicable, on our investments.

(2)Short term investments represent an investment in a fund that invests in highly liquid investments with average original maturity dates of three months or less.

(3)The gross annual portfolio yield does not represent and may be higher than an actual investment return to shareholders because it excludes our expenses and all sales commissions and dealer manager fees and does not consider the cost of leverage.

The following table summarizes the composition of our investment portfolio by the type of interest rate as of June 30, 2023 and December 31, 2022, excluding short term investments of $100,771 and $10,869, respectively:

	June 30, 2023						December 31, 2022
Interest Rate Allocation	Investments Cost		Investments Fair Value		Percentage of Investment Portfolio		Investments Cost		Investments Fair Value		Percentage of Investment Portfolio
Floating interest rate investments	$	1,470,103	$	1,394,829	82.6	%	$	1,539,214	$	1,477,630	84.5	%
Fixed interest rate investments	148,284		124,088		7.4	%	166,297		157,006		9.0	%
Non-income producing investments	110,834		112,045		6.6	%	76,061		104,619		6.0	%
Other income producing investments	35,021		56,729		3.4	%	11,168		9,906		0.5	%
Total investments	$	1,764,242	$	1,687,691	100.0	%	$	1,792,740	$	1,749,161	100.0	%

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The following table shows the composition of our investment portfolio by industry classification and the percentage, by fair value, of the total assets in such industries as of June 30, 2023 and December 31, 2022:

	June 30, 2023				December 31, 2022
Industry Classification	Investments Fair Value		Percentage of Investment Portfolio		Investments Fair Value		Percentage of Investment Portfolio
Services: Business	$	302,710	18.0	%	$	336,055	19.2	%
Healthcare & Pharmaceuticals	236,791		14.0	%	237,082		13.6	%
Media: Diversified & Production	122,742		7.3	%	134,927		7.7	%
Media: Advertising, Printing & Publishing	110,139		6.5	%	105,375		6.0	%
Services: Consumer	105,328		6.3	%	115,849		6.6	%
Diversified Financials	81,052		4.8	%	99,819		5.7	%
Construction & Building	71,133		4.2	%	46,007		2.6	%
Chemicals, Plastics & Rubber	67,947		4.0	%	66,753		3.8	%
Energy: Oil & Gas	66,248		3.9	%	68,756		3.9	%
Retail	63,042		3.8	%	74,718		4.3	%
Consumer Goods: Durable	61,172		3.6	%	60,735		3.5	%
Hotel, Gaming & Leisure	60,211		3.6	%	46,739		2.7	%
High Tech Industries	52,664		3.1	%	56,501		3.2	%
Beverage, Food & Tobacco	51,337		3.0	%	45,396		2.6	%
Capital Equipment	46,606		2.8	%	41,580		2.4	%
Consumer Goods: Non-Durable	43,003		2.5	%	47,886		2.8	%
Banking, Finance, Insurance & Real Estate	36,139		2.1	%	43,836		2.5	%
Containers, Packaging & Glass	19,453		1.2	%	19,551		1.1	%
Telecommunications	18,315		1.1	%	18,302		1.1	%
Automotive	16,231		1.0	%	16,255		0.9	%
Metals & Mining	15,781		0.9	%	15,780		0.9	%
Environmental Industries	14,722		0.9	%	—		—
Aerospace & Defense	12,627		0.7	%	38,842		2.2	%
Transportation: Cargo	12,298		0.7	%	12,417		0.7	%
Subtotal/total percentage	1,687,691		100.0	%	1,749,161		100.0	%
Short term investments	100,771				10,869
Total investments	$	1,788,462			$	1,760,030

Our investment portfolio may contain senior secured investments that are in the form of lines of credit, delayed draw term loans, revolving credit facilities, or unfunded commitments, which may require us to provide funding when requested in accordance with the terms of the underlying agreements. As of June 30, 2023 and December 31, 2022, our unfunded commitments amounted to $56,378 and $71,420, respectively. As of August 2, 2023, our unfunded commitments amounted to $54,475. Since these commitments may expire without being drawn upon, unfunded commitments do not necessarily represent future cash requirements or future earning assets for us. Refer to the section “Commitments and Contingencies” for further details on our unfunded commitments.

Investment Portfolio Asset Quality

CIM uses an investment rating system to characterize and monitor our expected level of returns on each investment in our portfolio. These ratings are just one of several factors that CIM uses to monitor our portfolio, are not in and of themselves determinative of fair value or revenue recognition and are presented for indicative purposes. CIM rates the credit risk of all investments on a scale of 1 to 5 no less frequently than quarterly. This system is intended primarily to reflect the underlying risk of a portfolio investment relative to our initial cost basis in respect of such portfolio investment (i.e., at the time of acquisition), although it may also take into account under certain circumstances the performance of the portfolio company’s business, the collateral coverage of the investment and other relevant factors.

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The following is a description of the conditions associated with each investment rating used in this ratings system:

Investment Rating	Description
1	Indicates the least amount of risk to our initial cost basis. The trends and risk factors for this investment since origination or acquisition are generally favorable, which may include the performance of the portfolio company or a potential exit.
2	Indicates a level of risk to our initial cost basis that is similar to the risk to our initial cost basis at the time of origination or acquisition. This portfolio company is generally performing in accordance with our analysis of its business and the full return of principal and interest or dividend is expected.
3	Indicates that the risk to our ability to recoup the cost of such investment has increased since origination or acquisition, but full return of principal and interest or dividend is expected. A portfolio company with an investment rating of 3 requires closer monitoring.
4	Indicates that the risk to our ability to recoup the cost of such investment has increased significantly since origination or acquisition, including as a result of factors such as declining performance and noncompliance with debt covenants, and we expect some loss of interest, dividend or capital appreciation, but still expect an overall positive internal rate of return on the investment.
5	Indicates that the risk to our ability to recoup the cost of such investment has increased materially since origination or acquisition and the portfolio company likely has materially declining performance. Loss of interest or dividend and some loss of principal investment is expected, which would result in an overall negative internal rate of return on the investment.

For investments rated 3, 4, or 5, CIM enhances its level of scrutiny over the monitoring of such portfolio company.

The following table summarizes the composition of our investment portfolio based on the 1 to 5 investment rating scale at fair value as of June 30, 2023 and December 31, 2022, excluding short term investments of $100,771 and $10,869, respectively:    

	June 30, 2023				December 31, 2022
Investment Rating	Investments Fair Value		Percentage of Investment Portfolio		Investments Fair Value		Percentage of Investment Portfolio
1	$	31,368	1.9	%	$	24,450	1.4	%
2	1,448,547		85.8	%	1,424,681		81.5	%
3	194,470		11.5	%	260,662		14.9	%
4	8,271		0.5	%	39,032		2.2	%
5	5,035		0.3	%	336		—
	$	1,687,691	100.0	%	$	1,749,161	100.0	%

The amount of the investment portfolio in each rating category may vary substantially from period to period resulting primarily from changes in the composition of such portfolio as a result of new investment, repayment and exit activities. In addition, changes in the rating of investments may be made to reflect our expectation of performance and changes in investment values.

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Current Investment Portfolio

The following table summarizes the composition of our investment portfolio at fair value as of August 2, 2023:

	Investments Fair Value		Percentage of Investment Portfolio
Senior secured first lien debt	$	1,468,611	86.1	%
Senior secured second lien debt	39,539		2.3	%
Collateralized securities and structured products - equity	1,046		0.1	%
Unsecured debt	17,301		1.0	%
Equity	178,384		10.5	%
Subtotal/total percentage	1,704,881		100.0	%
Short term investments(2)	107,908
Total investments	$	1,812,789
Number of portfolio companies			112
Average annual EBITDA of portfolio companies	$59.6 million
Median annual EBITDA of portfolio companies	$33.6 million
Purchased at a weighted average price of par			97.82	%
Gross annual portfolio yield based upon the purchase price(2)			11.44	%

(1)Short term investments represent an investment in a fund that invests in highly liquid investments with average original maturity dates of three months or less.

(2)The gross annual portfolio yield does not represent and may be higher than an actual investment return to shareholders because it excludes our expenses and all sales commissions and dealer manager fees and does not consider the cost of leverage.

Results of Operations for the Three Months Ended June 30, 2023 and 2022

Our results of operations for the three months ended June 30, 2023 and 2022 were as follows:

	Three Months Ended June 30,
	2023		2022
Investment income	$	58,496	$	43,552
Operating expenses and income taxes	35,080		24,264
Net investment income after taxes	23,416		19,288
Net realized (loss) gain on investments and foreign currency	(18,928)		180
Net change in unrealized appreciation (depreciation) on investments	23,406		(20,734)
Net increase (decrease) in net assets resulting from operations	$	27,894	$	(1,266)

Investment Income

For the three months ended June 30, 2023 and 2022, we generated investment income of $58,496 and $43,552, respectively, consisting primarily of interest income on investments in senior secured debt, collateralized securities and structured products, and unsecured debt of 100 and 112 portfolio companies held during each respective period. The increase in investment income was primarily due to higher LIBOR and SOFR rates during the three months ended June 30, 2023 compared to the three months ended June 30, 2022.

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Operating Expenses and Income Taxes

The composition of our operating expenses and income taxes for the three months ended June 30, 2023 and 2022 was as follows:

	Three Months Ended June 30,
	2023		2022
Management fees	$	6,546	$	6,839
Administrative services expense	910		781
Subordinated incentive fee on income	4,965		4,091
General and administrative	2,074		1,712
Interest expense	20,467		10,841
Income tax expense, including excise tax	118		—
Total operating expenses and income taxes	$	35,080	$	24,264

The increase in interest expense was primarily the result of (a) higher LIBOR and SOFR rates during the three months ended June 30, 2023 compared to the three months ended June 30, 2022 and (b) higher average borrowings under our financing arrangements during the three months ended June 30, 2023 compared to the three months ended June 30, 2022. The increase in subordinated incentive fee on income was primarily the result of the increase in investment income during the three months ended June 30, 2023 compared to the three months ended June 30, 2022, which was partially offset by the increase in interest expense during the three months ended June 30, 2023 compared to the three months ended June 30, 2022.

The composition of our general and administrative expenses for the three months ended June 30, 2023 and 2022 was as follows:

	Three Months Ended June 30,
	2023		2022
Professional fees	$	645	$	519
Transfer agent expense	279		303
Printing and marketing expense	269		28
Valuation expense	252		212
Director fees and expenses	179		161
Insurance expense	169		254
Accounting and administrative costs	158		145
Dues and subscriptions	44		80
Other expenses	79		10
Total general and administrative expense	$	2,074	$	1,712

Net Investment Income After Taxes

Our net investment income after taxes totaled $23,416 and $19,288 for the three months ended June 30, 2023 and 2022, respectively. The increase in net investment income was a result of an increase in our investment income during the three months ended June 30, 2023 as compared to the three months ended June 30, 2022, which was partially offset by an increase in our operating expenses during the same period, which was driven primarily by increases in interest expense and the subordinated incentive fee on income.

Net Realized (Loss) Gain on Investments and Foreign Currency

Our net realized (loss) gain on investments and foreign currency totaled $(18,928) and $180 for the three months ended June 30, 2023 and 2022, respectively. This change was driven primarily by realized losses on the restructure of certain investments during the three months ended June 30, 2023 as compared to the three months ended June 30, 2022.

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Net Change in Unrealized Appreciation (Depreciation) on Investments

The net change in unrealized appreciation (depreciation) on our investments totaled $23,406 and $(20,734) for the three months ended June 30, 2023 and 2022, respectively. This change was driven primarily by the restructure of certain investments with unrealized losses during the three months ended June 30, 2023 compared to widening credit spreads and decreased multiples in equity markets as well as the underperformance of certain investments during the three months ended June 30, 2022.

Net Increase (Decrease) in Net Assets Resulting from Operations

For the three months ended June 30, 2023 and 2022, we recorded a net increase (decrease) in net assets resulting from operations of $27,894 and $(1,266), respectively, as a result of our operating activity for the respective periods.

Results of Operations for the Six Months Ended June 30, 2023 and 2022

Our results of operations for the six months ended June 30, 2023 and 2022 were as follows:

	Six Months Ended June 30,
	2023		2022
Investment income	$	123,471	$	85,235
Operating expenses and income taxes	70,197		46,464
Net investment income after taxes	53,274		38,771
Net realized (loss) gain on investments and foreign currency	(23,453)		111
Net change in unrealized depreciation on investments	(32,972)		(32,259)
Net (decrease) increase in net assets resulting from operations	$	(3,151)	$	6,623

Investment Income

For the six months ended June 30, 2023 and 2022, we generated investment income of $123,471 and $85,235, respectively, consisting primarily of interest income on investments in senior secured debt, collateralized securities and structured products, and unsecured debt of 104 and 119 portfolio companies held during each respective period. The increase in LIBOR and SOFR rates during the six months ended June 30, 2023 as compared to the six months ended June 30, 2022 contributed to the increase in interest income generated on our investments. However, our average investment portfolio size, excluding our short term investments, decreased $10,189, from $1,728,615 for the six months ended June 30, 2022 to $1,718,426 for the six months ended June 30, 2023.

Operating Expenses and Income Taxes

The composition of our operating expenses and income taxes for the six months ended June 30, 2023 and 2022 was as follows:

	Six Months Ended June 30,
	2023		2022
Management fees	$	13,222	$	13,494
Administrative services expense	1,747		1,501
Subordinated incentive fee on income	11,300		8,224
General and administrative	4,029		3,934
Interest expense	39,776		19,300
Income tax expense, including excise tax	123		11
Total operating expenses and income taxes	$	70,197	$	46,464

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The increase in interest expense was primarily the result of (a) higher LIBOR and SOFR rates during the six months ended June 30, 2023 compared to the six months ended June 30, 2022 and (b) higher average borrowings under our financing arrangements during the six months ended June 30, 2023 compared to the six months ended June 30, 2022. The increase in subordinated incentive fee on income was primarily the result of the increase in investment income during the six months ended June 30, 2023 compared to the six months ended June 30, 2022, which was partially offset by the increase in interest expense during the six months ended June 30, 2023 compared to the six months ended June 30, 2022.

The composition of our general and administrative expenses for the six months ended June 30, 2023 and 2022 was as follows:

	Six Months Ended June 30,
	2023		2022
Professional fees	$	1,171	$	1,152
Transfer agent expense	547		594
Dues and subscriptions	473		615
Valuation expense	425		391
Director fees and expenses	348		315
Insurance expense	336		505
Accounting and administrative costs	324		302
Printing and marketing expense	274		33
Other expenses	131		27
Total general and administrative expense	$	4,029	$	3,934

Net Investment Income After Taxes

Our net investment income after taxes totaled $53,274 and $38,771 for the six months ended June 30, 2023 and 2022, respectively. The increase in our net investment income was a result of an increase in our investment income during the six months ended June 30, 2023 as compared to the six months ended June 30, 2022, which was partially offset by an increase in our operating expenses during the same period, which was driven primarily by increases in interest expense and the subordinated incentive fee on income.

Net Realized (Loss) Gain on Investments and Foreign Currency

Our net realized (loss) gain on investments and foreign currency totaled $(23,453) and $111 for the six months ended June 30, 2023 and 2022, respectively. This change was driven primarily by realized losses on the restructure of certain investments during the six months ended June 30, 2023.

Net Change in Unrealized Depreciation on Investments

The net change in unrealized depreciation on our investments totaled $(32,972) and $(32,259) for the six months ended June 30, 2023 and 2022, respectively. This increase was primarily driven by the underperformance of certain investments during the six months ended June 30, 2023, which was partially offset by the realization of previously unrealized losses on certain investment restructurings. This compares to widening credit spreads and decreased multiples in equity markets during the six months ended June 30, 2022 that negatively impacted the fair value of certain of our investments.

Net (Decrease) Increase in Net Assets Resulting from Operations

For the six months ended June 30, 2023 and 2022, we recorded a net (decrease) increase in net assets resulting from operations of $(3,151) and $6,623, respectively, as a result of our operating activity for the respective periods.

Financial Condition, Liquidity and Capital Resources

We generate cash primarily from cash flows from interest, fees and dividends earned from our investments as well as principal repayments and proceeds from sales of our investments. We also employ leverage to seek to enhance our returns as market conditions permit and at the discretion of CIM and pursuant to the 1940 Act. As a result, we also generate cash from our existing financing arrangements and may generate cash from future borrowings, as well as future offerings of securities including public and/or private issuances of debt and/or equity securities. We use cash primarily to (i) purchase investments in new and existing portfolio companies, (ii) pay for the cost of operations (including paying advisory fees to and/or reimbursing CIM), (iii) make debt service payments related to any of our financing arrangements and (iv) pay cash distributions to the holders of our shares.

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On March 23, 2018, an amendment to Section 61(a) of the 1940 Act was signed into law to permit BDCs to reduce the minimum “asset coverage” ratio from 200% to 150% and, as a result, to potentially increase the ratio of a BDC’s debt to equity from a maximum of 1-to-1 to a maximum of 2-to-1, so long as certain approval and disclosure requirements are satisfied. As a result of receiving shareholder approval on December 30, 2021, effective December 31, 2021, we are required to maintain asset coverage for our senior securities of 150% rather than 200%, which allows us to increase the maximum amount of leverage that we are permitted to incur. We may from time to time enter into additional financing arrangements or amend the size of our existing financing arrangements. Any increase to our leverage would be subject to prevailing market conditions, our liquidity requirements, contractual and regulatory restrictions and other factors.

As of June 30, 2023 and December 31, 2022, our asset coverage ratio was 1.85 and 1.92, respectively. We seek to carefully consider our unfunded commitments for the purpose of planning our ongoing financial leverage.

On September 15, 2022, our shareholders authorized us to issue shares of our common stock at prices below the then current NAV per share in one or more offerings for a 12-month period following such shareholder approval. As of the date of this report, we are not engaged in discussions to issue any such shares.

As of June 30, 2023, we had cash of $11,515 and short term investments of $100,771 invested in a fund that primarily invests in U.S. government securities. Cash and short term investments as of June 30, 2023, taken together with our available debt, is expected to be sufficient for our investing and financing activities and to conduct our operations in the near term. As of June 30, 2023, we had $125 million available under our financing arrangements.

Our short-term cash needs include the funding of additional portfolio investments, the payment of operating expenses including interest expense, management fees, incentive fees, administrative services expense and general and administrative expenses, as well as paying distributions to our shareholders. Our long-term cash needs will include principal payments on outstanding financing arrangements and funding of additional portfolio investments. Funding for short and long-term cash needs will come from cash provided from operating activities and/or unused net proceeds from financing activities. We believe that our liquidity and sources of capital are adequate to satisfy our short and long-term cash requirements. We cannot, however, be certain that these sources of funds will be available at a time and upon terms acceptable to us in sufficient amounts in the future.

Post-Listing Share Repurchase Policy

On September 15, 2021, our board of directors, including the independent directors, approved a share repurchase policy authorizing us to repurchase up to $50 million of our outstanding common stock after the Listing. On June 24, 2022, our board of directors, including the independent directors, increased the amount of shares of our common stock that may be repurchased under the share repurchase policy by $10 million to up to an aggregate of $60 million. Under the share repurchase policy, we may purchase shares of our common stock through various means such as open market transactions, including block purchases, and privately negotiated transactions. The number of shares repurchased and the timing, manner, price and amount of any repurchases will be determined at our discretion. Factors include, but are not limited to, share price, trading volume and general market conditions, along with our general business conditions. The policy may be suspended or discontinued at any time and does not obligate us to acquire any specific number of shares of our common stock.

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On August 16, 2022, as part of the share repurchase policy, we entered into a trading plan with an independent broker, Wells Fargo, in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, based in part on historical trading data with respect to our shares. The 10b5-1 trading plan permits common stock to be repurchased at a time that we might otherwise be precluded from doing so under insider trading laws or self-imposed trading restrictions. The 10b5-1 trading plan is subject to price, market volume and timing restrictions.

During the six months ended June 30, 2023, we repurchased an aggregate of 666,657 shares under the 10b5-1 trading plan for an aggregate purchase price of $6,818, or an average purchase price of $10.23 per share.

From July 1, 2023 to August 2, 2023, we repurchased an aggregate of 57,691 shares of common stock under the 10b5-1 trading plan for an aggregate purchase price of $621, or an average purchase price of $10.76 per share. From the inception of the 10b5-1 trading plan in August 2022 through August 2, 2023, we repurchased an aggregate of 2,383,304 shares of common stock under the 10b5-1 trading plan for an aggregate purchase price of $22,882, or an average purchase price of $9.60 per share.

Distributions

To qualify for and maintain RIC tax treatment, we must, among other things, distribute in respect of each taxable year at least 90% of our net ordinary income and realized net short-term capital gains in excess of realized net long-term capital losses, if any. We will incur an excise tax of 4% imposed on RICs to the extent we do not distribute in respect of each calendar year an amount at least equal to the sum of (1) 98.0% of our net ordinary income (taking into account certain deferrals and elections) for the calendar year, (2) 98.2% of our capital gains in excess of capital losses, or capital gain net income (adjusted for certain ordinary losses), for the one-year period ending on October 31 of the calendar year and (3) any net ordinary income and capital gain net income from preceding years that were not distributed during such years and on which we paid no federal income tax.

We intend to make distributions in an amount sufficient to maintain RIC status each year and to avoid any federal income taxes on income. Therefore, subject to applicable legal restrictions and the sole discretion of our board of directors, we intend to authorize, declare, and pay regular distributions on a quarterly basis. Regular and special distributions in respect of future periods will be evaluated by management and our board of directors based on circumstances and expectations existing at the time of consideration.

The following table presents distributions per share that were declared during the year ended December 31, 2022 and the six months ended June 30, 2023:

	Distributions
Three Months Ended	Per Share		Amount
2022
March 31, 2022 (one record date)	$	0.2800	$	15,948
June 30, 2022 (one record date)	0.2800		15,949
September 30, 2022 (one record date)	0.3100		17,604
December 31, 2022 (two record dates)	0.5800		32,074
Total distributions for the year ended December 31, 2022	$	1.4500	$	81,575
2023
March 31, 2023 (one record date)	$	0.3400	$	18,687
June 30, 2023 (one record date)	0.3400		18,614
Total distributions for the six months ended June 30, 2023	$	0.6800	$	37,301

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On August 7, 2023, our co-chief executive officers declared (i) a regular quarterly distribution of $0.34 per share for the third quarter of 2023 payable on September 15, 2023 to shareholders of record as of September 1, 2023 and (ii) a supplemental distribution of $0.05 per share for both the third and fourth quarters of 2023, payable on October 16, 2023 and January 15, 2024, respectively, to shareholders of record as of September 29, 2023 and December 29, 2023, respectively.

For an additional discussion of our RIC status and distributions, refer to Note 2 and Note 5, respectively, of our consolidated financial statements included in this report.

JPM Credit Facility

As of June 30, 2023 and August 2, 2023, our aggregate outstanding borrowings under the JPM Credit Facility were $600,000 and the aggregate unfunded principal amount in connection with the JPM Credit Facility was $75,000. For a detailed discussion of our JPM Credit Facility, refer to Note 8 to our consolidated financial statements included in this report.

UBS Facility

As of June 30, 2023 and August 2, 2023, our outstanding borrowings under the Amended UBS Facility were $100,000 and the aggregate unfunded principal amount in connection with the Amended UBS Facility was $50,000. For a detailed discussion of our Amended UBS Facility, refer to Note 8 to our consolidated financial statements included in this report.

2026 Notes

As of June 30, 2023 and August 2, 2023, we had $125,000 in aggregate principal amount of 2026 Notes outstanding and there was no unfunded principal amount in connection with the 2026 Notes. For a detailed discussion of our 2026 Notes, refer to Note 8 to our consolidated financial statements included in this report.

2021 More Term Loan

As of June 30, 2023 and August 2, 2023, our outstanding borrowings under the 2021 More Term Loan were $30,000 and there was no unfunded principal amount in connection with the 2021 More Term Loan. For a detailed discussion of our 2021 More Term Loan, refer to Note 8 to our consolidated financial statements included in this report.

2022 More Term Loan

As of June 30, 2023 and August 2, 2023, our outstanding borrowings under the 2022 More Term Loan were $50,000 and there was no unfunded principal amount in connection with the 2022 More Term Loan. For a detailed discussion of our 2022 More Term Loan, refer to Note 8 to our consolidated financial statements included in this report.

Series A Notes

As of June 30, 2023 and August 2, 2023, we had $80,712 in aggregate principal amount of Series A Notes outstanding and there was no unfunded principal amount in connection with the Series A Notes. For a detailed discussion of our Series A Notes, refer to Note 8 to our consolidated financial statements included in this report.

Unfunded Commitments

As of June 30, 2023 and August 2, 2023, our unfunded commitments amounted to $56,378 and $54,475, respectively. For a detailed discussion of our unfunded commitments, refer to Note 11 to our consolidated financial statements included in this report.

Recent Accounting Pronouncements

See Note 2 to our consolidated financial statements included in this report for a discussion of certain recent accounting pronouncements that are applicable to us.

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Critical Accounting Policies

Our consolidated financial statements are prepared in conformity with GAAP, which requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Critical accounting policies are those that require the application of management’s most difficult, subjective or complex judgments, often because of the need to make estimates about the effect of matters that are inherently uncertain and that may change in subsequent periods. In preparing the consolidated financial statements, we also utilize available information, including our past history, industry standards and the current economic environment, among other factors, in forming our estimates and judgments, giving due consideration to materiality. Actual results may differ from these estimates. In addition, other companies may utilize different estimates, which may impact the comparability of our results of operations to those of companies in similar businesses.

Valuation of Portfolio Investments

The value of our assets is determined quarterly and at such other times that an event occurs that materially affects the valuation. The valuation is made pursuant to Section 2(a)(41) of the 1940 Act, which requires that we value our assets as follows: (i) the market price for those securities for which a market quotation is readily available, and (ii) for all other securities and assets, at fair value, as determined in good faith by our board of directors. As a BDC, Section 2(a)(41) of the 1940 Act requires the board of directors to determine in good faith the fair value of portfolio securities for which a market price is not readily available, and it does so in conjunction with the application of our valuation procedures by CIM. In accordance with Rule 2a-5 of the 1940 Act, our board of directors has designated CIM as our “valuation designee.” Our board of directors and the audit committee of our board of directors, which is comprised solely of our independent directors, oversees the activities, methodology and processes of the valuation designee.

There is no single standard for determining fair value in good faith. As a result, determining fair value requires that judgment be applied to the specific facts and circumstances of each asset while employing a valuation process that is consistently followed. Determinations of fair value involve subjective judgments and estimates. Accordingly, the notes to our consolidated financial statements refer to the uncertainty with respect to the possible effect of such valuations, and any change in such valuations in our consolidated financial statements.

Valuation Methods

With respect to investments for which market quotations are not readily available, CIM, as the valuation designee of our board of directors, undertakes a multi-step valuation process each quarter, as described below:

•the quarterly valuation process generally begins with each portfolio company or investment either being sent directly to an independent valuation firm or initially valued by certain of CIM’s investment professionals and certain members of its management team, with such valuation taking into account information received from various sources, including independent valuation firms, if applicable;

•preliminary valuation conclusions are then documented and discussed by members of CIM’s management team;

•designated members of CIM’s management team review the preliminary valuation, and, if applicable, deliver such preliminary valuation to an independent valuation firm for its review;

•designated members of CIM’s management team and, if appropriate, the relevant investment professionals meet with the independent valuation firm to discuss the preliminary valuation;

•designated members of CIM’s management team respond and supplement the preliminary valuation to reflect any comments provided by the independent valuation firm;

•our audit committee meets with members of CIM’s management team and the independent valuation firms to discuss the assistance provided and the results of the independent valuation firms' review; and

•our board of directors and our audit committee provide oversight with respect to this valuation process, including requesting such materials as they may determine appropriate.

We shall promptly (but no later than five business days after we become aware) report to our board of directors in writing on the occurrence of matters that materially affect the fair value of the designated portfolio of investments. Material matters in this instance include a significant deficiency or material weakness in the design or effectiveness of CIM’s fair value determination process resulting in a material error in the calculation of net asset value of $0.01 per share or greater.

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In addition to the foregoing, certain investments for which a market price is not readily available are evaluated on a quarterly basis by an independent valuation firm and certain other investments are on a rotational basis reviewed by an independent valuation firm. Finally, certain investments are not evaluated by an independent valuation firm unless certain aspects of such investments in the aggregate meet certain criteria.

Given the expected types of investments, excluding short term investments and stock of publicly traded companies that are classified as Level 1, management expects our portfolio holdings to be classified as Level 3. Due to the uncertainty inherent in the valuation process, particularly for Level 3 investments, such fair value estimates may differ significantly from the values that would have been used had an active market for the investments existed. In addition, changes in the market environment and other events that may occur over the life of the investments may cause the gains or losses that we ultimately realize on these investments to materially differ from the valuations currently assigned. Inputs used in the valuation process are subject to variability in the future and can result in materially different fair values.

For an additional discussion of our investment valuation process, refer to Note 2 to our consolidated financial statements included in this report.

Related Party Transactions

For a discussion of our relationship with related parties including CIM and CIG, and amounts incurred under agreements with such related parties, refer to Note 4 to our consolidated financial statements included in this report. For a discussion of our relationship with CION/EagleTree, refer to Note 7 to our consolidated financial statements included in this report.

Contractual Obligations

On August 26, 2016, 34th Street entered into the JPM Credit Facility with JPM, as amended and restated on September 30, 2016, July 11, 2017, November 28, 2017, May 23, 2018, May 15, 2020, February 26, 2021, March 28, 2022 and May 15, 2023. See Note 8 to our consolidated financial statements for a more detailed description of the JPM Credit Facility.

On May 19, 2017, Murray Hill Funding II entered into the UBS Facility with UBS, as amended on December 1, 2017, May 19, 2020, November 12, 2020, December 17, 2020 and June 14, 2023. See Note 8 to our consolidated financial statements for a more detailed description of the UBS Facility.

On February 11, 2021, we entered into the Note Purchase Agreement with purchasers of the 2026 Notes. See Note 8 to our consolidated financial statements for a more detailed description of the 2026 Notes.

On April 14, 2021, we entered into the 2021 More Term Loan with More. See Note 8 to our consolidated financial statements for a more detailed description of the 2021 More Term Loan.

On April 27, 2022, we entered into the 2022 More Term Loan with More Provident. See Note 8 to our consolidated financial statements for a more detailed description of the 2022 More Term Loan.

On February 28, 2023, we entered into a Deed of Trust with Mishmeret Trust Company Ltd., as trustee, pursuant to which we issued our Series A Notes. See Note 8 to our consolidated financial statements for a more detailed description of the Deed of Trust and the Series A Notes.

Commitments and Contingencies

We have entered into certain contracts with other parties that contain a variety of indemnifications. Our maximum exposure under these arrangements is unknown. However, we have not experienced claims or losses pursuant to these contracts and believe the risk of loss related to such indemnifications to be remote.

Our investment portfolio may contain debt investments that are in the form of lines of credit, delayed draw term loans, revolving credit facilities, or other unfunded commitments, which may require us to provide funding when requested in accordance with the terms of the underlying agreements. For further details on such debt investments, refer to Note 11 to our consolidated financial statements included in this report.

We currently have no off-balance sheet arrangements, except for those discussed in Note 7 and Note 11 to our consolidated financial statements included in this report.

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Item 3. Quantitative and Qualitative Disclosures About Market Risk

We are subject to financial market risks, including changes in interest rates. As of June 30, 2023, 82.6% of our investments paid variable interest rates. A rise in the general level of interest rates can be expected to lead to higher interest rates applicable to our debt investments, especially to the extent that we hold variable rate investments, and to declines in the value of any fixed rate investments we may hold. To the extent that a majority of our investments may be in variable rate investments, an increase in interest rates could make it easier for us to meet or exceed our incentive fee hurdle rate, as defined in our investment advisory agreement, and may result in a substantial increase in our net investment income, and also to the amount of incentive fees payable to CIM with respect to our pre-incentive fee net investment income.

As of June 30, 2023, under the terms of the JPM Second Amendment, advances bear interest at a floating rate equal to the three-month SOFR, plus a credit spread of 3.05% per year, and a LIBOR to SOFR credit spread adjustment of 0.15%. Pursuant to the terms of the Amended UBS Facility, we currently pay a financing fee equal to the three-month SOFR, plus a spread of (a) to (but excluding) November 19, 2023, 3.525% per year, and (b) thereafter, 3.20% per year. Pursuant to the terms of the Deed of Trust, the Series A Notes bear interest at a floating rate equal to average overnight SOFR, plus a credit spread of 3.82% per year. Pursuant to the terms of the 2022 More Term Loan, advances bear interest at a floating rate equal to the three-month SOFR, plus a credit spread of 3.50% per year and subject to a 1.0% SOFR floor. In addition, we may seek to further borrow funds in order to make additional investments. Our net investment income will be impacted, in part, by the difference between the rate at which we borrow funds and the rate at which we invest those funds. As a result, we would be subject to risks relating to changes in market interest rates. In periods of rising interest rates when we have debt outstanding, our cost of funds would increase, which could reduce our net investment income, especially to the extent we hold fixed rate investments. We expect that our long-term investments will be financed primarily with equity and long-term debt. Our interest rate risk management techniques may include various interest rate hedging activities to the extent permitted by the 1940 Act. Adverse developments resulting from changes in interest rates could have a material adverse effect on our business, financial condition and results of operations.

The following table shows the effect over a twelve month period of changes in interest rates on our net interest income, excluding short term investments, assuming no changes in our investment portfolio, the Third Amended JPM Credit Facility (including the JPM Second Amendment), the Amended UBS Facility, the Series A Notes or the 2022 More Term Loan in effect as of June 30, 2023:

Basis Point Change in Interest Rates	(Decrease) Increase in Net Interest Income(1)		Percentage Change in Net Interest Income
Down 300 basis points	$	(16,900)	(15.6)	%
Down 200 basis points	(11,290)		(10.4)	%
Down 100 basis points	(5,645)		(5.2)	%
Down 50 basis points	(2,822)		(2.6)	%
No change to current base rate (5.25% as of June 30, 2023)	—		—
Up 50 basis points	2,822		2.6	%
Up 100 basis points	5,645		5.2	%
Up 200 basis points	11,290		10.4	%
Up 300 basis points	16,934		15.6	%

(1)This table assumes no change in defaults or prepayments by portfolio companies over the next twelve months.

The interest rate sensitivity analysis presented above does not consider the potential impact of the changes in fair value of our fixed rate debt investments, our fixed rate borrowings (the 2026 Notes and the 2021 More Term Loan), or the net asset value of our common stock in the event of sudden changes in interest rates. Approximately 7.4% of our investments paid fixed interest rates as of June 30, 2023. Rising market interest rates will most likely lead to fair value declines for fixed interest rate investments and fixed interest rate borrowings and a decline in the net asset value of our common stock, while declining market interest rates will most likely lead to an increase in the fair value of fixed interest rate investments and fixed interest rate borrowings and an increase in the net asset value of our common stock.

In addition, we may have risk regarding portfolio valuation as discussed in Note 2 to our consolidated financial statements included in this report.

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Item 4. Controls and Procedures

Evaluation of disclosure controls and procedures 

In connection with the preparation of this Quarterly Report on Form 10-Q for the three months ended June 30, 2023, we carried out an evaluation, under the supervision and with the participation of our management, including our Co-Chief Executive Officers and our Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures as of the end of the period covered by this report pursuant to Rule 13a-15(b) and Rule 15d-15(b) of the Securities Exchange Act of 1934, as amended. Based on the foregoing evaluation, the Co-Chief Executive Officers and the Chief Financial Officer concluded that our disclosure controls and procedures were effective.

In designing and evaluating our disclosure controls and procedures, we recognized that disclosure controls and procedures, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the disclosure controls and procedures are met.  Our disclosure controls and procedures have been designed to meet reasonable assurance standards. Disclosure controls and procedures cannot detect or prevent all error and fraud. Some inherent limitations in disclosure controls and procedures include costs of implementation, faulty decision-making, simple error and mistake. Additionally, controls can be circumvented by the individual acts of some persons, by collusion of two or more people, or by management override of the controls. The design of any system of controls is based, in part, upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all anticipated and unanticipated future conditions. Over time, controls may become inadequate because of changes in conditions, or the degree of compliance with established policies or procedures.

Evaluation of internal control over financial reporting

There have been no changes in our internal control over financial reporting during the three months ended June 30, 2023 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II - OTHER INFORMATION

Item 1. Legal Proceedings

We are not currently subject to any material legal proceedings, nor, to our knowledge, is any material legal proceeding threatened against us. From time to time, we may be party to certain legal proceedings in the ordinary course of business, including proceedings relating to the enforcement of our rights under contracts with our portfolio companies and other third parties. While the outcome of these legal proceedings cannot be predicted with certainty, we do not expect that any such proceedings will have a material effect upon our financial condition or results of operations.

Item 1A. Risk Factors

In addition to other information set forth in this Quarterly Report on Form 10-Q, you should carefully consider the factors set forth in “Item 1A. Risk Factors” in our Annual Report on Form 10‑K for the year ended December 31, 2022, which could materially affect our business, financial condition and/or operating results. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially affect our business, financial condition and/or operating results. There have been no material changes during the three months ended June 30, 2023 to the risk factors set forth in “Item 1A. Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2022, except as set forth below.

We and our portfolio companies may maintain cash balances at financial institutions that exceed federally insured limits and may otherwise be materially affected by adverse developments affecting the financial services industry, such as actual events or concerns involving liquidity, defaults or non-performance by financial institutions or transactional counterparties.

Our cash is held principally at one financial institution that we believe is of high quality and at times may exceed insured limits. Cash held by us and by our portfolio companies in non-interest-bearing and interest-bearing operating accounts may exceed the FDIC insurance limits. If such banking institutions were to fail, we or our portfolio companies could lose all or a portion of those amounts held in excess of such insurance limitations. In addition, actual events involving limited liquidity, defaults, non-performance or other adverse developments that affect financial institutions, transactional counterparties or other companies in the financial services industry or the financial services industry generally, or concerns or rumors about any events of these kinds or other similar risks, have in the past and may in the future lead to market-wide liquidity problems, which could adversely affect our and our portfolio companies’ business, financial condition, results of operations, or prospects.

Although we assess our banking relationships as we believe necessary or appropriate, our access to funding sources and other credit arrangements in amounts adequate to finance or capitalize our current and projected future business operations could be significantly impaired by factors that affect us, the financial institutions with which we have arrangements directly, or the financial services industry or economy in general. These factors could include, among others, events such as liquidity constraints or failures, the ability to perform obligations under various types of financial, credit or liquidity agreements or arrangements, disruptions or instability in the financial services industry or financial markets or concerns or negative expectations about the prospects for companies in the financial services industry. These factors could involve financial institutions or financial services industry companies with which we have financial or business relationships but could also include factors involving financial markets or the financial services industry generally.

In addition, investor concerns regarding the U.S. or international financial systems could result in less favorable commercial financing terms, including higher interest rates or costs and tighter financial and operating covenants, or systemic limitations on access to credit and liquidity sources, thereby making it more difficult for us to acquire financing on acceptable terms or at all.

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Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

We did not engage in any unregistered sales of equity securities during the three months ended June 30, 2023.

The table below provides information concerning our repurchases of shares of our common stock in the open market during the three months ended June 30, 2023 pursuant to our share repurchase policy.

Period	Total Number of Shares Purchased	Average Price Paid per Share		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	Maximum Number of Shares That May Yet Be Purchased Under the Plans or Programs
April 1 to April 30, 2023	126,980	$	9.71	126,980	(1)
May 1 to May 31, 2023	86,950	9.34		86,950	(1)
June 1 to June 30, 2023	114,698	10.31		114,698	(1)
Total	328,628	$	9.81	328,628	(1)

(1)A description of the shares of our common stock that may be repurchased is set forth in a discussion of our share repurchase program in Note 3 to our unaudited consolidated financial statements contained in this Quarterly Report on Form 10-Q.

The table below provides information concerning our repurchases of shares of our common stock in the open market during the three months ended June 30, 2023 pursuant to our distribution reinvestment plan in order to satisfy the reinvestment portion of our distributions.

Period	Total Number of Shares Purchased	Average Price Paid per Share		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	Maximum Number of Shares That May Yet Be Purchased Under the Plans or Programs
April 1 to April 30, 2023	—	$	—	—	—
May 1 to May 31, 2023	—	—		—	—
June 1 to June 30, 2023	174,424	10.71		174,424	(1)
Total	174,424	$	10.71	174,424	(1)

(1) A description of the shares of our common stock that may be repurchased is set forth in a discussion of the New DRP in Note 5 to our unaudited consolidated financial statements contained in this Quarterly Report on Form 10-Q.

Item 3. Defaults Upon Senior Securities

Not applicable.

Item 4. Mine Safety Disclosures

Not applicable.

Item 5. Other Information

During the fiscal quarter ended June 30, 2023, none of our directors or executive officers adopted or terminated any contract, instruction or written plan for the purchase or sale of our securities to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any “non-Rule 10b5-1 trading arrangement.”

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Item 6. Exhibits

Exhibit Number	Description of Document
2.1	Purchase and Sale Agreement, dated as of September 30, 2016, by and between Park South Funding, LLC and Credit Suisse Alternative Capital, LLC (Incorporated by reference to Exhibit 2.1 to Registrant’s Current Report on Form 8-K filed with the SEC on October 4, 2016 (File No. 814-00941)).
3.1	Third Articles of Amendment and Restatement of the Articles of Incorporation of CĪON Investment Corporation (Incorporated by reference to Exhibit A to Registrant’s Definitive Proxy Statement on Schedule 14A filed with the SEC on May 13, 2021 (File No. 814-00941)).
3.2	Articles of Amendment to the Third Articles of Amendment and Restatement of the Articles of Incorporation of CĪON Investment Corporation (Incorporated by reference to Exhibit 3.1 to Registrant’s Current Report on Form 8-K filed with the SEC on September 16, 2021(File No. 814-00941)).
3.3	Bylaws of CĪON Investment Corporation (Incorporated by reference to Exhibit (B) to Pre-Effective Amendment No. 4 to Registrant’s Registration Statement on Form N-2 filed with the SEC on June 29, 2012 (File No. 333-178646)).
4.1	Fifth Amended and Restated Distribution Reinvestment Plan of CĪON Investment Corporation (Incorporated by reference to Exhibit 4.1 to Registrant’s Current Report on Form 8-K filed with the SEC on December 8, 2016 (File No. 814-00941)).
4.2	Distribution Reinvestment Plan of CĪON Investment Corporation (Incorporated by reference to Exhibit 4.1 to Registrant’s Current Report on Form 8-K filed with the SEC on September 16, 2021 (File No. 814-00941)).
4.3	Description of Registrant’s Securities (Incorporated by reference to Exhibit 4.4 to Registrant’s Annual Report on Form 10-K filed with the SEC on March 10, 2022 (File No. 814-00941)).
10.1	Second Amended and Restated Investment Advisory Agreement, dated as of October 5, 2021, by and between CĪON Investment Corporation and CION Investment Management, LLC (Incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed with the SEC on October 5, 2021 (File No. 814-00941)).
10.2	Custody Agreement by and between CĪON Investment Corporation and U.S. Bank National Association (Incorporated by reference to Exhibit (J) to Pre-Effective Amendment No. 4 to Registrant’s Registration Statement on Form N-2 filed with the SEC on June 29, 2012 (File No. 333-178646)).
10.3	Third Amended and Restated Expense Support and Conditional Reimbursement Agreement, dated as of December 9, 2020, by and between CĪON Investment Corporation and CION Investment Management, LLC (Incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed with the SEC on December 15, 2020 (File No. 814-00941)).
10.4	Sale and Contribution Agreement, dated as of August 26, 2016, by and between 34th Street Funding, LLC and CĪON Investment Corporation (Incorporated by reference to Exhibit 10.2 to Registrant’s Current Report on Form 8-K filed with the SEC on September 1, 2016 (File No. 814-00941)).
10.5	Master Participation Agreement, dated as of August 26, 2016, by and between 34th Street Funding, LLC and CĪON Investment Corporation (Incorporated by reference to Exhibit 10.3 to Registrant’s Current Report on Form 8-K filed with the SEC on September 1, 2016 (File No. 814-00941)).
10.6	Amended and Restated Portfolio Management Agreement, dated as of September 30, 2016, by and among 34th Street Funding, LLC, CION Investment Management, LLC and JPMorgan Chase Bank, National Association (Incorporated by reference to Exhibit 10.3 to Registrant’s Current Report on Form 8-K filed with the SEC on October 4, 2016 (File No. 814-00941)).
10.7	Contribution Agreement, dated as of May 19, 2017, by and among CION Investment Corporation, Murray Hill Funding, LLC and Murray Hill Funding II, LLC (Incorporated by reference to Exhibit 10.1 to Registrant’s Current Report on Form 8-K filed with the SEC on May 25, 2017 (File No. 814-00941)).
10.8	Murray Hill Funding II, LLC Class A Notes Due 2027 (Incorporated by reference to Exhibit 10.3 to Registrant’s Current Report on Form 8-K filed with the SEC on May 25, 2017 (File No. 814-00941)).
10.9	Contribution Agreement, dated as of May 19, 2017, by and among UBS AG, London Branch, Murray Hill Funding II, LLC, U.S. Bank National Association, Murray Hill Funding, LLC and CION Investment Management, LLC (Incorporated by reference to Exhibit 10.4 to Registrant’s Current Report on Form 8-K filed with the SEC on May 25, 2017 (File No. 814-00941)).
10.10	October 2000 Version Global Master Repurchase Agreement, by and between UBS AG and Murray Hill Funding, LLC, together with the related Annex and Master Confirmation thereto, each dated as of May 19, 2017 (Incorporated by reference to Exhibit 10.5 to Registrant’s Current Report on Form 8-K filed with the SEC on May 25, 2017 (File No. 814-00941)).
10.11	Collateral Management Agreement, dated as of May 19, 2017, by and between CION Investment Management, LLC and Murray Hill Funding II, LLC (Incorporated by reference to Exhibit 10.6 to Registrant’s Current Report on Form 8-K filed with the SEC on May 25, 2017 (File No. 814-00941)).
10.12	Collateral Administration Agreement, dated as of May 19, 2017, by and among Murray Hill Funding II, LLC, CION Investment Management, LLC and U.S. Bank National Association (Incorporated by reference to Exhibit 10.7 to Registrant’s Current Report on Form 8-K filed with the SEC on May 25, 2017 (File No. 814-00941)).
10.13	Murray Hill Funding II, LLC Class A Notes Due 2027 (Incorporated by reference to Exhibit 10.2 to the Registrant’s Current Report on Form 8-K filed with the SEC on December 7, 2017 (File No. 814-00941)).
10.14	Administration Agreement, dated as of April 1, 2018, by and between CĪON Investment Corporation and CION Investment Management, LLC (Incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed with the SEC on April 3, 2018 (File No. 814-00941)).

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Exhibit Number	Description of Document
10.15	Revolving Credit Note Agreement, dated as of December 17, 2020, by and among Murray Hill Funding II, LLC, Murray Hill Funding, LLC, U.S. Bank National Association, and the Class A-R Noteholders (Incorporated by reference to Exhibit 10.2 to Registrant’s Current Report on Form 8-K filed with the SEC on December 23, 2020 (File No. 814-00941)).
10.16	Murray Hill Funding II, LLC Class A-R Notes Due 2027 (Incorporated by reference to Exhibit 10.3 to Registrant’s Current Report on Form 8-K filed with the SEC on December 23, 2020 (File No. 814-00941)).
10.17	Second Amended and Restated Indenture, dated as of December 17, 2020, by and between Murray Hill Funding II, LLC and U.S. Bank National Association (Incorporated by reference to Exhibit 10.4 to Registrant’s Current Report on Form 8-K filed with the SEC on December 23, 2020 (File No. 814-00941)).
10.18	Note Purchase Agreement of CĪON Investment Corporation related to the 2026 Notes, dated as of February 11, 2021 (Incorporated by reference to Exhibit 10.1 to Registrant’s Current Report on Form 8-K filed with the SEC on February 16, 2021 (File No. 814-00941)).
10.19	Third Amended and Restated Loan and Security Agreement, dated as of February 26, 2021, by and among 34th Street Funding, LLC, JPMorgan Chase Bank, National Association, U.S. Bank National Association and CION Investment Management, LLC (Incorporated by reference to Exhibit 10.1 to Registrant’s Current Report on Form 8-K filed with the SEC on March 1, 2021 (File No. 814-00941)).
10.20	Unsecured Term Loan Facility Agreement, dated as of April 14, 2021, by and between CĪON Investment Corporation and More Provident Funds Ltd. (Incorporated by reference to Exhibit 10.1 to Registrant’s Current Report on Form 8-K filed with the SEC on April 20, 2021 (File No. 814-00941)).
10.21	First Amendment to Third Amended and Restated Loan and Security Agreement, dated as of March 28, 2022, by and among 34th Street Funding, LLC, JPMorgan Chase Bank, National Association, U.S. Bank Trust Company, National Association, U.S. Bank National Association and CION Investment Management, LLC (Incorporated by reference to Exhibit 10.1 to Registrant’s Current Report on Form 8-K filed with the SEC on March 29, 2022 (File No. 814-00941)).
10.22	Unsecured Term Loan Facility Agreement, dated as of April 27, 2022, by and between CĪON Investment Corporation and More Provident Funds and Pension Ltd. (Incorporated by reference to Exhibit 10.1 to Registrant’s Current Report on Form 8-K filed with the SEC on April 27, 2022 (File No. 814-00941)).
10.23	Deed of Trust, dated as of February 20, 2023, by and between CĪON Investment Corporation and Mishmeret Trust Company Ltd. (Incorporated by reference to Exhibit 10.1 to Registrant’s Current Report on Form 8-K filed with the SEC on February 28, 2023 (File No. 814-00941)).
10.24	Second Amendment to Third Amended and Restated Loan and Security Agreement, dated as of May 15, 2023, by and among 34th Street Funding, LLC, JPMorgan Chase Bank, National Association, U.S. Bank Trust Company, National Association, U.S. Bank National Association and CION Investment Management, LLC (Incorporated by reference to Exhibit 10.1 to Registrant’s Current Report on Form 8-K filed with the SEC on May 18, 2023 (File No. 814-00941)).
10.25	Fifth Amended and Restated Master Confirmation to the Global Master Repurchase Agreement (Class A-1 Notes), dated as of June 14, 2023, by and between Murray Hill Funding, LLC and UBS AG (Incorporated by reference to Exhibit 10.1 to Registrant’s Current Report on Form 8-K filed with the SEC on June 15, 2023 (File No. 814-00941)).
10.26	Amended and Restated Master Confirmation to the Global Master Repurchase Agreement (Class A-R Notes), dated as of June 14, 2023, by and between Murray Hill Funding, LLC and UBS AG (Incorporated by reference to Exhibit 10.2 to Registrant’s Current Report on Form 8-K filed with the SEC on June 15, 2023 (File No. 814-00941)).
14.1	Code of Ethics of CĪON Investment Corporation, CION Investment Management, LLC, CION Investment Management II, LLC and Affiliated Advisers (Incorporated by reference to Exhibit 14.1 to Registrant’s Current Report on Form 8-K filed with the SEC on May 10, 2023 (File No. 814-00941)).
21.1	Subsidiaries of CĪON Investment Corporation. (Incorporated by reference to Exhibit 21.1 to Registrant’s Annual Report on Form 10-K filed with the SEC on March 16, 2023 (File No. 814-00941)).
31.1	Rule 13a-14(a)/15d-14(a) Certification of Co-Chief Executive Officer.*
31.2	Rule 13a-14(a)/15d-14(a) Certification of Co-Chief Executive Officer.*
31.3	Rule 13a-14(a)/15d-14(a) Certification of Chief Financial Officer.*
32.1	Certification of Co-Chief Executive Officer pursuant to 18 U.S.C. §1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.*
32.2	Certification of Co-Chief Executive Officer pursuant to 18 U.S.C. §1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.*
32.3	Certification of Chief Financial Officer pursuant to 18 U.S.C. §1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.*
101.INS	Inline XBRL Instance Document – the instance document does not appear in the Interactive Data File because XBRL tags are embedded within the Inline XBRL document.
101.SCH	Inline XBRL Taxonomy Extension Schema Document.
101.CAL	Inline XBRL Taxonomy Extension Calculation Linkbase Document.
101.DEF	Inline XBRL Taxonomy Extension Definition Linkbase Document.
101.LAB	Inline XBRL Taxonomy Extension Label Linkbase Document.
101.PRE	Inline XBRL Taxonomy Extension Presentation Linkbase Document.
104	Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101).

* Filed herewith.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: August 8, 2023

CĪON Investment Corporation

(Registrant)

By: /s/ Michael A. Reisner

Michael A. Reisner

Co-Chief Executive Officer

(Principal Executive Officer)

By: /s/ Mark Gatto

Mark Gatto

Co-Chief Executive Officer

(Principal Executive Officer)

By: /s/ Keith S. Franz

Keith S. Franz

Chief Financial Officer

(Principal Financial and Accounting Officer)

87

EX-31.1

Exhibit 31.1

CERTIFICATION OF CO-CHIEF EXECUTIVE OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Michael A. Reisner, certify that:

1.I have reviewed this Quarterly Report on Form 10-Q of CĪON Investment Corporation;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to me by others within those entities, particularly during the period in which this report is being prepared;

(b)designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report my conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b)any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: August 8, 2023

/s/ Michael A. Reisner

Michael A. Reisner

Co-Chief Executive Officer

(Principal Executive Officer)

CĪON Investment Corporation

EX-31.2

Exhibit 31.2

CERTIFICATION OF CO-CHIEF EXECUTIVE OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Mark Gatto, certify that:

1.I have reviewed this Quarterly Report on Form 10-Q of CĪON Investment Corporation;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to me by others within those entities, particularly during the period in which this report is being prepared;

(b)designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report my conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b)any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: August 8, 2023

/s/ Mark Gatto

Mark Gatto

Co-Chief Executive Officer

(Principal Executive Officer)

CĪON Investment Corporation

EX-31.3

Exhibit 31.3

CERTIFICATION OF CHIEF FINANCIAL OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Keith S. Franz, certify that:

1.I have reviewed this Quarterly Report on Form 10-Q of CĪON Investment Corporation;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to me by others within those entities, particularly during the period in which this report is being prepared;

(b)designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report my conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a)all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b)any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: August 8, 2023

/s/ Keith S. Franz

Keith S. Franz

Chief Financial Officer

(Principal Financial and Accounting Officer) 

CĪON Investment Corporation

EX-32.1

Exhibit 32.1

CERTIFICATION OF CO-CHIEF EXECUTIVE OFFICER

PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

I, Michael A. Reisner, Co-Chief Executive Officer, in connection with the Quarterly Report of CĪON Investment Corporation (the "Company") on Form 10-Q for the quarter ended June 30, 2023, as filed with the Securities and Exchange Commission on the date hereof (the “Quarterly Report”), certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1.The Quarterly Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2.The information contained in the Quarterly Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: August 8, 2023

/s/ Michael A. Reisner

Michael A. Reisner

Co-Chief Executive Officer

(Principal Executive Officer)

CĪON Investment Corporation

EX-32.2

Exhibit 32.2

CERTIFICATION OF CO-CHIEF EXECUTIVE OFFICER

PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

I, Mark Gatto, Co-Chief Executive Officer, in connection with the Quarterly Report of CĪON Investment Corporation (the “Company”) on Form 10-Q for the quarter ended June 30, 2023, as filed with the Securities and Exchange Commission on the date hereof (the “Quarterly Report”), certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1.The Quarterly Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2.The information contained in the Quarterly Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 Date: August 8, 2023

/s/ Mark Gatto

Mark Gatto

Co-Chief Executive Officer

(Principal Executive Officer)

CĪON Investment Corporation

EX-32.3

Exhibit 32.3

CERTIFICATION OF CHIEF FINANCIAL OFFICER

PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

I, Keith S. Franz, Chief Financial Officer, in connection with the Quarterly Report of CĪON Investment Corporation (the “Company”) on Form 10-Q for the quarter ended June 30, 2023, as filed with the Securities and Exchange Commission on the date hereof (the “Quarterly Report”), certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1.The Quarterly Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2.The information contained in the Quarterly Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: August 8, 2023

/s/ Keith S. Franz

Keith S. Franz

Chief Financial Officer

(Principal Financial and Accounting Officer)

CĪON Investment Corporation

XML

Cover - shares	6 Months Ended
	Jun. 30, 2023	Aug. 02, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Securities Act File Number	000-54755
Entity Registrant Name	CĪON Investment Corporation
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	45-3058280
Entity Address, Address Line One	100 Park Avenue
Entity Address, Address Line Two	25th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10017
City Area Code	(212)
Local Phone Number	418-4700
Title of 12(b) Security	Common stock, par value $0.001 per share
Trading Symbol	CION
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		54,575,136
Central Index Key	0001534254
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2

XML

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023		Dec. 31, 2022
Assets
Investments, at fair value:	$ 1,788,462	[1]	$ 1,760,030
Cash	11,515		82,739
Interest receivable on investments	33,200		26,526
Receivable due on investments sold and repaid	997		1,016
Dividends receivable on controlled investments	0		1,275
Prepaid expenses and other assets	608		825
Total assets	1,834,782		1,872,411
Liabilities
Financing arrangements (net of unamortized debt issuance costs of $8,976 and $6,178, respectively)	976,737		951,322
Accounts payable and accrued expenses	1,344		1,012
Interest payable	8,183		7,820
Accrued management fees	6,546		6,924
Accrued subordinated incentive fee on income	4,967		5,065
Accrued administrative services expense	574		1,703
Shareholder distribution payable	67		14,931
Total liabilities	998,418		988,777
Commitments and contingencies (Note 4 and Note 11)
Shareholders' Equity
Common stock, $0.001 par value; 500,000,000 shares authorized; 54,961,455 and 55,299,484 shares issued and 54,961,455 and 55,299,484 shares outstanding, respectively	55		55
Capital in excess of par value	1,037,729		1,044,547
Accumulated distributable losses	(201,420)		(160,968)
Total shareholders' equity	836,364		883,634
Total liabilities and shareholders' equity	$ 1,834,782		$ 1,872,411
Net asset value per share of common stock at end of period	$ 15.31		$ 15.98
Non-controlled, non-affiliated investments
Assets
Investments, at fair value:	$ 1,510,372		$ 1,525,040
Non-controlled, affiliated investments
Assets
Investments, at fair value:	198,084		143,876
Controlled investments
Assets
Investments, at fair value:	$ 80,006		$ 91,114

[1] Fair value determined in good faith by the Company’s board of directors (see Note 9), including via delegation to CIM as the Company’s valuation designee (see Note 2), using significant unobservable inputs unless otherwise noted.

XML

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023		Dec. 31, 2022
Investments, cost	$ 1,865,013	[1]	$ 1,803,609
Deferred financing costs, net	$ 8,976		$ 6,178
Common stock par or stated value per share (in dollars per share)	$ 0.001		$ 0.001
Common stock, shares authorized (in shares)	500,000,000		500,000,000
Common stock, shares issued (in shares)	54,645,571		55,299,484
Common stock, shares outstanding (in shares)	54,632,827		55,299,484
Non-controlled, non-affiliated investments
Investments, cost	$ 1,583,865		$ 1,580,844
Non-controlled, affiliated investments
Investments, cost	204,248		140,344
Controlled investments
Investments, cost	$ 76,900		$ 82,421

[1] Represents amortized cost for debt securities and cost for equity investments.

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Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Investment income
Fee income	$ 1,631	$ 2,567	$ 4,694	$ 4,009	$ 9,544
Total investment income	58,496	43,552	123,471	85,235	194,898
Operating expenses
Management fees	6,546	6,839	13,222	13,494	27,361
Administrative services expense	910	781	1,747	1,501	3,348
Subordinated incentive fee on income			11,300	8,224	18,710
General and administrative	2,074	1,712	4,029	3,934	7,278
Interest expense	20,467	10,841	39,776	19,300	49,624
Total operating expenses	34,962	24,264	70,074	46,453	106,321
Net investment income before taxes	23,534	19,288	53,397	38,782	88,577
Income tax expense, including excise tax	118	0	123	11	372
Net investment income after taxes	23,416	19,288	53,274	38,771	88,205
Realized and unrealized (losses) gains
Net realized (losses) gains	(18,928)	180	(23,453)	111	(32,747)
Foreign currency	0	0	0	0	(3)
Net realized (losses) gains	(18,928)	180	(23,453)	111	(32,750)
Net change in unrealized appreciation (depreciation)	23,406	(20,734)	(32,972)	(32,259)	(5,314)
Net realized and unrealized gains (losses)	4,478	(20,554)	(56,425)	(32,148)	(38,064)
Net increase (decrease) in net assets resulting from operations	$ 27,894	$ (1,266)	$ (3,151)	$ 6,623	$ 50,141
Per share information—basic and diluted
Net increase (decrease) in net assets per share resulting from operations (in dollars per share)	$ 0.51	$ (0.02)	$ (0.06)	$ 0.12	$ 0.89
Net investment income per share (in dollars per share)	$ 0.43	$ 0.34	$ 0.97	$ 0.68	$ 1.56
Weighted average shares of common stock outstanding - basic (in shares)	54,788,740	56,958,440	54,948,225	56,958,440	56,556,510
Weighted average shares of common stock outstanding - diluted (in shares)	54,788,740	56,958,440	54,948,225	56,958,440	56,556,510
Non-controlled, non-affiliated investments
Investment income
Interest income	$ 47,117	$ 31,749	$ 89,885	$ 62,743	$ 140,560
Paid-in-kind interest income	4,297	4,613	9,128	9,219	22,737
Fee income	1,154	2,554	2,297	3,503	9,019
Dividend income	0	0	0	46	103
Realized and unrealized (losses) gains
Net realized (losses) gains	(18,928)	180	(23,453)	208	(11,217)
Net change in unrealized appreciation (depreciation)	23,396	(17,482)	(17,690)	(24,977)	(19,807)
Non-controlled, affiliated investments
Investment income
Interest income	1,734	1,545	4,208	2,568	5,865
Paid-in-kind interest income	1,751	874	3,482	2,319	6,204
Fee income	477	13	2,397	506	525
Dividend income	52	53	3,933	53	79
Realized and unrealized (losses) gains
Net realized (losses) gains	0	0	0	(97)	(21,530)
Net realized (losses) gains			0		(21,530)
Net change in unrealized appreciation (depreciation)	595	(1,577)	(9,695)	(5,357)	13,523
Controlled investments
Investment income
Interest income	1,914	1,742	3,891	3,869	6,049
Paid-in-kind interest income	0	409	0	409	2,482
Dividend income	0	0	4,250	0	1,275
Realized and unrealized (losses) gains
Net realized (losses) gains			0		0
Net change in unrealized appreciation (depreciation)	$ (585)	$ (1,675)	$ (5,587)	$ (1,925)	$ 970

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Consolidated Statements of Changes in Net Assets - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Changes in net assets from operations:
Net investment income	$ 23,416	$ 19,288	$ 53,274	$ 38,771	$ 88,205
Net realized (loss) gain on investments	(18,928)	180	(23,453)	111	(32,747)
Net realized loss on foreign currency	0	0	0	0	(3)
Net change in unrealized appreciation (depreciation) on investments	23,406	(20,734)	(32,972)	(32,259)	(5,314)
Net increase (decrease) in net assets resulting from operations	27,894	(1,266)	(3,151)	6,623	50,141
Changes in net assets from shareholders' distributions:
Net decrease in net assets resulting from shareholders' distributions	(18,614)	(15,949)	(37,301)	(31,897)	(81,575)
Changes in net assets from capital share transactions:
Repurchase of common stock	(3,226)	0	(6,818)	0	(15,444)
Net decrease in net assets resulting from capital share transactions	(3,226)	0	(6,818)	0	(15,444)
Total increase (decrease) in net assets	6,054	(17,215)	(47,270)	(25,274)	(46,878)
Net assets at beginning of period	830,310	922,453	883,634	930,512	930,512
Net assets at end of period	$ 836,364	$ 905,238	$ 836,364	$ 905,238	$ 883,634
Net asset value per share of common stock at end of period (in dollars per share)	$ 15.31	$ 15.89	$ 15.31	$ 15.89	$ 15.98
Shares of common stock outstanding at end of period (in shares)	54,632,827	56,958,440	54,632,827	56,958,440	55,299,484

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Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Operating activities:
Net increase (decrease) in net assets resulting from operations	$ 27,894	$ (1,266)	$ (3,151)	$ 6,623	$ 50,141
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash (used in) provided by operating activities:
Net accretion of discount on investments	(2,601)	(2,478)	(6,943)	(4,974)	(11,032)
Proceeds from principal repayment of investments	52,809	102,963	110,271	161,710	407,174
Purchase of investments	(69,885)	(173,224)	(92,933)	(311,047)	(550,538)
Paid-in-kind interest and dividends capitalized	(6,049)	(5,897)	(12,611)	(11,948)	(31,446)
(Increase) decrease in short term investments, net	(34,444)	1,418	(89,901)	73,572	77,048
Proceeds from sale of investments	1,789	6,591	10,601	8,875	62,586
Net realized loss (gain) on investments	18,928	(180)	23,453	(111)	32,747
Net change in unrealized (appreciation) depreciation on investments	(23,406)	20,734	32,972	32,259	5,314
Amortization of debt issuance costs	1,001	812	1,896	1,504	3,175
(Increase) decrease in interest receivable on investments	(8,117)	(746)	(10,014)	(162)	(2,821)
(Increase) decrease in dividends receivable on investments	0	0	1,275	0	(1,275)
(Increase) decrease in receivable due on investments sold and repaid	2,242	4,590	19	141	1,838
(Increase) decrease in prepaid expenses and other assets	3,944	1,506	217	(1,646)	(359)
Increase (decrease) in payable for investments purchased	0	11,635	0	308	(11,327)
Increase (decrease) in accounts payable and accrued expenses	269	332	332	(728)	(910)
Increase (decrease) in interest payable	1,176	2,430	363	1,264	3,481
Increase (decrease) in accrued management fees	(130)	184	(378)	166	251
Increase (decrease) in accrued administrative services expense	(120)	154	(1,129)	(1,065)	108
Increase (decrease) in subordinated incentive fee on income payable	(1,367)	(42)	(98)	149	1,123
Increase (decrease) in share repurchase payable	67	0	67	0	0
Net cash (used in) provided by operating activities	(36,000)	(30,484)	(35,692)	(45,110)	35,278
Financing activities:
Repurchase of common stock	(3,226)	0	(6,818)	0	(15,444)
Shareholders' distributions paid	(18,614)	(15,949)	(52,232)	(31,897)	(66,644)
Repayments under financing arrangements	(25,000)	0	(52,500)	0	0
Borrowings under financing arrangements	0	72,500	80,712	117,500	127,500
Debt issuance costs paid	(1,661)	(1,025)	(4,694)	(1,725)	(1,725)
Net cash (used in) provided by financing activities	(48,501)	55,526	(35,532)	83,878	43,687
Net (decrease) increase in cash	(84,501)	25,042	(71,224)	38,768	78,965
Cash, beginning of period	96,016	17,500	82,739	3,774	3,774
Cash, end of period	11,515	42,542	11,515	42,542	82,739
Supplemental disclosure of cash flow information:
Cash paid for interest	18,284	7,586	37,498	16,511	42,930
Supplemental non-cash financing activities:
Restructuring of portfolio investment	33,373	0	79,359	0	50,554
Cash interest receivable exchanged for additional securities	$ 1,353	$ 0	$ 2,265	$ 0	$ 0

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Consolidated Schedule of Investments (unaudited) - USD ($) $ in Thousands		Jun. 30, 2023		Dec. 31, 2022		Dec. 31, 2021
Cost		$ 1,865,013	[1]	$ 1,803,609
Fair Value		1,788,462	[2]	1,760,030
LIABILITIES IN EXCESS OF OTHER ASSETS		(952,098)	[2]	(876,396)
NET ASSETS		836,364	[2]	883,634		$ 930,512
Senior Secured First Lien Debt
Cost		1,546,799	[1]	1,638,995
Fair Value		1,468,630	[2]	1,579,512
Senior Secured Second Lien Debt
Cost		41,153	[1]	41,036
Fair Value		39,544	[2]	38,769
Collateralized securities and structured products - equity
Cost		2,510	[1]	2,687
Fair Value		1,046	[2]	1,179
Unsecured debt
Cost		34,635	[1]	30,427
Fair Value		17,301	[2]	22,643
Equity
Cost		139,145	[1]	79,595
Fair Value		161,170	[2]	107,058
Short term investments
Cost		100,771	[1]	10,869
Fair Value		100,771	[2]	10,869
Investment, Identifier [Axis]: AHF Parent Holding, Inc., Senior Secured First Lien Debt, 2/1/2028 Maturity
Principal Amount		2,813	[3],[4],[5]	2,944	[6],[7]
Cost		2,767	[4],[5]	2,891	[6],[7]
Fair Value		2,714	[4],[5]	2,771	[6],[7]
Investment, Identifier [Axis]: ALM Media, LLC, Senior Secured First Lien Debt, 11/25/2024 Maturity
Principal Amount		16,421	[3],[4],[5],[8]	17,000	[6],[9],[10]
Cost		16,324	[4],[5],[8]	16,855	[6],[9],[10]
Fair Value		16,421	[4],[5],[8]	17,000	[6],[9],[10]
Investment, Identifier [Axis]: APIDOS CLO XVI Subordinated Notes., Collateralized Securities and Structured Products - Equity, 1/19/2025 Maturity
Principal Amount		9,000	[3],[11],[12]	9,000	[13],[14]
Cost		1,217	[11],[12]	1,246	[13],[14]
Fair Value		13	[11],[12]	71	[13],[14]
Investment, Identifier [Axis]: ARC Financial Partners, LLC, Membership Interests., Equity
Cost		0	[15],[16]	0	[17],[18]
Fair Value		0	[15],[16]	0	[17],[18]
Investment, Identifier [Axis]: ARC Financial, LLC, Membership Interests, Non-Controlled, Affiliated Investments
Fair Value		0		0		0
Investment, Identifier [Axis]: Adapt Laser Acquisition, Inc., Senior Secured First Lien Debt, 12/31/2023 Maturity, 1
Principal Amount		10,979	[3],[19],[20]	11,047	[10],[21]
Cost		10,979	[19],[20]	11,048	[10],[21]
Fair Value		11,143	[19],[20]	10,329	[10],[21]
Investment, Identifier [Axis]: Adapt Laser Acquisition, Inc., Senior Secured First Lien Debt, 12/31/2023 Maturity, 2
Principal Amount		2,093	[3],[19],[20]	2,072	[10],[21]
Cost		2,093	[19],[20]	2,072	[10],[21]
Fair Value		2,041	[19],[20]	1,875	[10],[21]
Investment, Identifier [Axis]: Afore Insurance Services, LLC, First Lien Term Loan, Non-Controlled, Affiliated Investments
Fair Value		4,572		0
Investment, Identifier [Axis]: Afore Insurance Services, LLC., Senior Secured First Lien Debt, 3/24/2025 Maturity
Principal Amount	[3],[5],[8],[15]	4,583
Cost	[5],[8],[15]	4,583
Fair Value	[5],[8],[15]	4,572
Investment, Identifier [Axis]: Allen Media, LLC, Senior Secured First Lien Debt, 2/10/2027 Maturity
Principal Amount		8,818	[3],[4],[5]	8,863	[6],[7]
Cost		8,757	[4],[5]	8,793	[6],[7]
Fair Value		8,553	[4],[5]	8,420	[6],[7]
Investment, Identifier [Axis]: American Clinical Solutions LLC, Senior Secured First Lien Debt, 12/31/2024 Maturity
Principal Amount		4,859	[3],[8],[19],[22]	4,250	[9],[21],[23]
Cost		4,859	[8],[19],[22]	4,250	[9],[21],[23]
Fair Value		4,726	[8],[19],[22]	4,122	[9],[21],[23]
Investment, Identifier [Axis]: American Consolidated Natural Resources, Inc., Senior Secured First Lien Debt, 9/16/2025 Maturity
Principal Amount		47	[3],[8],[19],[20]	47	[9],[10],[21]
Cost		36	[8],[19],[20]	35	[9],[10],[21]
Fair Value		48	[8],[19],[20]	47	[9],[10],[21]
Investment, Identifier [Axis]: American Health Staffing Group, Inc. Senior Secured First Lien Debt, 11/19/2026 Maturity, 1
Principal Amount	[3],[8],[24]	16,458
Cost	[8],[24]	16,345
Fair Value	[8],[24]	16,458
Investment, Identifier [Axis]: American Health Staffing Group, Inc. Senior Secured First Lien Debt, 11/19/2026 Maturity, 2
Principal Amount	[9],[25]			16,542
Cost	[9],[25]			16,407
Fair Value	[9],[25]			16,542
Investment, Identifier [Axis]: American Health Staffing Group, Inc., Senior Secured First Lien Debt, 11/19/2026 Maturity, 1
Principal Amount				3,333
Cost				(26)
Fair Value				0
Investment, Identifier [Axis]: American Health Staffing Group, Inc., Senior Secured First Lien Debt, 11/19/2026 Maturity, 2
Principal Amount	[3]	3,333
Cost		(22)
Fair Value		0
Investment, Identifier [Axis]: American Teleconferencing Services, Ltd. Senior Secured First Lien Debt, 1/31/23 Maturity, 2
Principal Amount	[26]			3,116
Cost	[26]			3,116
Fair Value	[26]			156
Investment, Identifier [Axis]: American Teleconferencing Services, Ltd., Senior Secured First Lien Debt, 1/31/23 Maturity, 1
Principal Amount	[18],[26]			235
Cost	[18],[26]			0
Fair Value	[18],[26]			0
Investment, Identifier [Axis]: American Teleconferencing Services, Ltd., Senior Secured First Lien Debt, 4/07/2023 Maturity, 2
Principal Amount	[3],[16]	235
Cost	[16]	0
Fair Value	[16]	0
Investment, Identifier [Axis]: American Teleconferencing Services, Ltd., Senior Secured First Lien Debt, 4/07/2023 Maturity, 1
Principal Amount	[3],[27]	3,116
Cost	[27]	3,116
Fair Value	[27]	140
Investment, Identifier [Axis]: Analogic Corp., Senior Secured First Lien Debt, 6/21/2024 Maturity
Principal Amount		4,825	[3],[4],[5],[8]	4,850	[6],[9],[10]
Cost		4,807	[4],[5],[8]	4,823	[6],[9],[10]
Fair Value		4,819	[4],[5],[8]	4,795	[6],[9],[10]
Investment, Identifier [Axis]: Ancile Solutions, Inc., Senior Secured First Lien Debt, 6/11/2026 Maturity
Principal Amount		11,359	[3],[8],[19],[20]	11,967	[9],[10],[21]
Cost		11,126	[8],[19],[20]	11,681	[9],[10],[21]
Fair Value		11,231	[8],[19],[20]	11,608	[9],[10],[21]
Investment, Identifier [Axis]: Anthem Sports & Entertainment Inc., Senior Secured First Lien Debt, 11/15/2026 Maturity, 1
Principal Amount		37,076	[3],[8],[19],[20]	167
Cost		36,942	[8],[19],[20]	0
Fair Value		35,037	[8],[19],[20]	(8)
Investment, Identifier [Axis]: Anthem Sports & Entertainment Inc., Senior Secured First Lien Debt, 11/15/2026 Maturity, 2
Principal Amount		3,000	[3],[20]	36,914	[9],[10],[21]
Cost		3,000	[20]	36,749	[9],[10],[21]
Fair Value		2,835	[20]	35,161	[9],[10],[21]
Investment, Identifier [Axis]: Anthem Sports & Entertainment Inc., Senior Secured First Lien Debt, 11/15/2026 Maturity, 3
Principal Amount		167	[3]	3,000	[10]
Cost		0		3,000	[10]
Fair Value		(9)		2,857	[10]
Investment, Identifier [Axis]: Appalachian Resource Company, LLC, Senior Secured First Lien Debt, 9/10/2023 Maturity, 1
Principal Amount	[23]			5,000
Cost	[23]			5,000
Fair Value	[23]			5,000
Investment, Identifier [Axis]: Appalachian Resource Company, LLC, Senior Secured First Lien Debt, 9/10/2023 Maturity, 2
Principal Amount	[23]			11,137
Cost	[23]			10,625
Fair Value	[23]			10,733
Investment, Identifier [Axis]: Appalachian Resource Company, LLC, Senior Secured First Lien Debt, 9/15/2023 Maturity
Principal Amount	[3],[22]	5,000
Cost	[22]	5,000
Fair Value	[22]	5,000
Investment, Identifier [Axis]: Appalachian Resource Company, LLC, Senior Secured First Lien Debt, 9/30/2023 Maturity
Principal Amount	[3],[22]	11,137
Cost	[22]	10,992
Fair Value	[22]	10,733
Investment, Identifier [Axis]: Archer Systems, LLC, Senior Secured First Lien Debt, 8/11/2027 Maturity, 1
Principal Amount		22,098	[3],[5],[8]	18,095	[9],[28]
Cost		21,908	[5],[8]	17,922	[9],[28]
Fair Value		22,180	[5],[8]	17,937	[9],[28]
Investment, Identifier [Axis]: Archer Systems, LLC, Senior Secured First Lien Debt, 8/11/2027 Maturity, 2
Principal Amount	[3]	1,905
Cost		(16)
Fair Value		$ 7
Investment, Identifier [Axis]: Archer Systems, LLC, Senior Secured First Lien Debt, 8/11/2027 Maturity, 3
Principal Amount				1,905
Cost				(18)
Fair Value				$ (17)
Investment, Identifier [Axis]: Ascent Resources - Marcellus, LLC, Membership Units., Equity
Principal Units (in shares)		511,255	[3],[16]	511,255	[18]
Cost		$ 1,642	[16]	$ 1,642	[18]
Fair Value		746	[16]	$ 1,235	[18]
Investment, Identifier [Axis]: Ascent Resources - Marcellus, LLC, Warrants., Equity
Principal Units (in shares)	[18]			132,367
Cost	[18]			$ 13
Fair Value	[18]			3
Investment, Identifier [Axis]: Associated Asphalt Partners, LLC, Senior Secured First Lien Debt, 4/5/2024 Maturity
Principal Amount		14,135	[3],[4],[8],[20]	14,221	[6],[9],[23]
Cost		14,034	[4],[8],[20]	14,051	[6],[9],[23]
Fair Value		11,424	[4],[8],[20]	10,994	[6],[9],[23]
Investment, Identifier [Axis]: Atlas Supply LLC, Senior Secured First Lien Debt, 4/29/2025 Maturity
Principal Amount		5,000	[3]	5,000
Cost		5,000		5,000
Fair Value		4,938		4,950
Investment, Identifier [Axis]: Avison Young (USA) Inc., Senior Secured First Lien Debt, 1/31/2026 Maturity
Principal Amount		6,660	[3],[8],[29]	2,665	[9],[14],[23]
Cost		5,552	[8],[29]	2,638	[9],[14],[23]
Fair Value		5,595	[8],[29]	2,505	[9],[14],[23]
Investment, Identifier [Axis]: BDS Solutions Intermediateco, LLC, Senior Secured First Lien Debt, 2/7/2027 Maturity, 1
Principal Amount		19,979	[3],[5],[8]	17,822	[7]
Cost		19,689	[5],[8]	17,535	[7]
Fair Value		19,605	[5],[8]	17,466	[7]
Investment, Identifier [Axis]: BDS Solutions Intermediateco, LLC, Senior Secured First Lien Debt, 2/7/2027 Maturity, 2
Principal Amount		1,811	[3],[5]	859	[7]
Cost		1,754	[5]	802	[7]
Fair Value		1,777	[5]	842	[7]
Investment, Identifier [Axis]: BDS Solutions Intermediateco, LLC, Senior Secured First Lien Debt, 2/7/2027 Maturity, 3
Principal Amount		1,046	[3]	1,998
Cost		0		0
Fair Value		(20)		(40)
Investment, Identifier [Axis]: Berlitz Holdings, Inc., First Lien Term Loan, Non-Controlled, Affiliated Investments
Fair Value				0		0
Investment, Identifier [Axis]: Berlitz Holdings, Inc., Senior Secured First Lien Debt, 2/14/2025 Maturity
Principal Amount		13,800	[3],[29]	13,800	[17],[28]
Cost		13,165	[29]	12,992	[17],[28]
Fair Value		13,421	[29]	13,179	[17],[28]
Investment, Identifier [Axis]: Bradshaw International Parent Corp., Senior Secured First Lien Debt, 10/21/2026 Maturity, 1
Principal Amount		1,844	[3]	1,844
Cost		(31)		(36)
Fair Value		(51)		(53)
Investment, Identifier [Axis]: Bradshaw International Parent Corp., Senior Secured First Lien Debt, 10/21/2027 Maturity, 3
Principal Amount		12,899	[3],[8],[29]	13,024	[9],[23]
Cost		12,648	[8],[29]	12,746	[9],[23]
Fair Value		$ 12,544	[8],[29]	12,650	[9],[23]
Investment, Identifier [Axis]: CB URS Holdings Corp., Senior Secured First Lien Debt, 9/01/2024 Maturity
Principal Amount	[9],[10]			14,826
Cost	[9],[10]			14,801
Fair Value	[9],[10]			$ 12,417
Investment, Identifier [Axis]: CF Arch Holdings LLC, Class A Units, Equity
Principal Units (in shares)		380,952	[3],[16]	380,952	[18]
Cost		$ 381	[16]	$ 381	[18]
Fair Value		564	[16]	442	[18]
Investment, Identifier [Axis]: CION/EagleTree Partners, LLC, Common Shares, Controlled Investments
Fair Value		0		0		0
Investment, Identifier [Axis]: CION/EagleTree Partners, LLC, Membership Units Equity
Cost	[12],[16],[30]	0
Fair Value	[12],[16],[30]	$ 0
Investment, Identifier [Axis]: CION/EagleTree Partners, LLC, Membership Units, Equity
Cost	[14],[18],[31]			0
Fair Value	[14],[18],[31]			$ 0
Investment, Identifier [Axis]: CION/EagleTree Partners, LLC, Participating Preferred Shares Equity
Principal Units (in shares)		22,072,841	[3],[12],[30]	22,072,841	[14],[18],[31]
Cost		$ 22,073	[12],[30]	$ 22,073	[14],[18],[31]
Fair Value		25,179	[12],[30]	30,766	[14],[18],[31]
Investment, Identifier [Axis]: CION/EagleTree Partners, LLC, Participating Preferred Shares, Controlled Investments
Fair Value		25,179		30,766		29,796
Investment, Identifier [Axis]: CION/EagleTree Partners, LLC, Senior Secured Note, Controlled Investments
Fair Value		54,827		60,348		61,629
Investment, Identifier [Axis]: CION/EagleTree Partners, LLC., Senior Secured First Lien Debt, 12/21/2026 Maturity
Principal Amount		54,827	[3],[12],[19],[30]	60,348	[14],[21],[31]
Cost		54,827	[12],[19],[30]	60,348	[14],[21],[31]
Fair Value		54,827	[12],[19],[30]	60,348	[14],[21],[31]
Investment, Identifier [Axis]: CION/EagleTree, Access CIG, LLC, Senior Secured Second Lien Debt
Principal Amount		7,250		7,250
Cost		7,225		7,220
Fair Value		$ 7,105		$ 6,933
Investment, Identifier [Axis]: CION/EagleTree, American Clinical Solutions LLC, Class A Membership Interests, Equity
Principal Units (in shares)		6,030,384		6,030,384
Cost		$ 5,200		$ 5,200
Fair Value		$ 5,910		$ 3,618
Investment, Identifier [Axis]: CION/EagleTree, Anthem Sports and Entertainment Inc., Class A Preferred Stock Warrants, Equity
Principal Units (in shares)		1,469		1,469
Cost		$ 486		$ 486
Fair Value		$ 1,553		$ 1,881
Investment, Identifier [Axis]: CION/EagleTree, Anthem Sports and Entertainment Inc., Class B Preferred Stock Warrants, Equity
Principal Units (in shares)		255		255
Cost		$ 0		$ 0
Fair Value		$ 171		$ 187
Investment, Identifier [Axis]: CION/EagleTree, Anthem Sports and Entertainment Inc., Common Stock Warrants, Equity
Principal Units (in shares)		4,746		4,746
Cost		$ 0		$ 0
Fair Value		96		580
Investment, Identifier [Axis]: CION/EagleTree, BCP Great Lakes II - Series A Holdings LP, Partnership Equity
Cost		13,100
Fair Value		12,672
Investment, Identifier [Axis]: CION/EagleTree, BCP Great Lakes II - Series A Holdings LP, Partnership Interests, Equity
Cost				11,436
Fair Value				11,058
Investment, Identifier [Axis]: CION/EagleTree, Berlitz Holdings, Inc, Senior Secured First Lien Debt
Principal Amount		1,200		1,200
Cost		1,141		1,125
Fair Value		$ 1,167		$ 1,146
Investment, Identifier [Axis]: CION/EagleTree, CHC Medical Partners, Inc., Series C Preferred Stock, Equity
Principal Units (in shares)		2,727,273		2,727,273
Cost		$ 8,055		$ 7,891
Fair Value		$ 9,321		$ 8,877
Investment, Identifier [Axis]: CION/EagleTree, CTS Ultimate Holdings LLC, Class A Preferred Units, Equity
Principal Units (in shares)		3,578,701		3,578,701
Cost		$ 1,000		$ 1,000
Fair Value		$ 608		$ 859
Investment, Identifier [Axis]: CION/EagleTree, Carestream Health Holdings, Inc., Common Stock, Equity
Principal Units (in shares)		613,262		613,262
Cost		$ 21,759		$ 21,759
Fair Value		20,716		21,544
Investment, Identifier [Axis]: CION/EagleTree, Community Tree Service, LLC, Senior Secured First Lien Debt
Principal Amount		460		499
Cost		460		499
Fair Value		$ 452		$ 489
Investment, Identifier [Axis]: CION/EagleTree, Dayton HoldCo, LLC, Membership Units, Equity
Principal Units (in shares)		37,264		37,264
Cost		$ 8,400		$ 8,400
Fair Value		14,537		15,334
Investment, Identifier [Axis]: CION/EagleTree, Dayton Superior Corp, Senior Secured Second Lien Debt
Principal Amount				1,010
Cost				1,010
Fair Value				1,007
Investment, Identifier [Axis]: CION/EagleTree, Future Pak, LLC, Senior Secured First Lien Debt
Principal Amount		1,162		1,395
Cost		1,155		1,382
Fair Value		$ 1,162		$ 1,372
Investment, Identifier [Axis]: CION/EagleTree, HDNet Holdco LLC, Preferred Unit Call Option, Equity
Principal Units (in shares)		1		1
Cost		$ 0		$ 0
Fair Value		$ 100		$ 185
Investment, Identifier [Axis]: CION/EagleTree, HW Ultimate Holdings, LP, Class A Membership Units, Equity
Principal Units (in shares)		2,000,000		2,000,000
Cost		$ 2,082		$ 2,082
Fair Value		0		130
Investment, Identifier [Axis]: CION/EagleTree, Ivy Hill Middle Market Credit Fund VIII, Ltd. Subordinated Loan, Collateralized Securities and Structured Products - Equity
Principal Amount		10,000		10,000
Cost		9,796		9,874
Fair Value		$ 9,263		$ 9,523
Investment, Identifier [Axis]: CION/EagleTree, Language Education Holdings GP LLC, Common Units, Equity
Principal Units (in shares)		133,333		133,333
Cost		$ 0		$ 0
Fair Value		$ 0		$ 0
Investment, Identifier [Axis]: CION/EagleTree, Language Education Holdings LP, Ordinary Common Units, Equity
Principal Units (in shares)		133,333		133,333
Cost		$ 300		$ 300
Fair Value		495		427
Investment, Identifier [Axis]: CION/EagleTree, MedPlast Holdings, Inc, Senior Secured Second Lien Debt
Principal Amount		6,750		6,750
Cost		6,206		6,135
Fair Value		$ 6,539		$ 6,337
Investment, Identifier [Axis]: CION/EagleTree, Skillsoft Corp., Class A Common Stock, Equity
Principal Units (in shares)		243,425		243,425
Cost		$ 2,000		$ 2,000
Fair Value		$ 302		$ 316
Investment, Identifier [Axis]: CION/EagleTree, Spinal USA, Inc. / Precision Medical Inc., Warrants, Equity
Principal Units (in shares)		20,667,324		20,667,324
Cost		$ 0		$ 0
Fair Value		0		0
Investment, Identifier [Axis]: CION/EagleTree, Zest Acquisition Corp, Senior Secured Second Lien Debt
Principal Amount				15,000
Cost				14,820
Fair Value				14,175
Investment, Identifier [Axis]: Cabi, LLC, Senior Secured First Lien Debt, 2/28/2027 Maturity
Principal Amount		21,576	[3],[8],[29]	22,073	[9],[28]
Cost		21,319	[8],[29]	21,772	[9],[28]
Fair Value		21,522	[8],[29]	21,742	[9],[28]
Investment, Identifier [Axis]: Cadence Aerospace, LLC, Senior Secured First Lien Debt, 11/14/2023 Maturity
Principal Amount	[6],[9],[10],[21]			39,383
Cost	[6],[9],[10],[21]			39,225
Fair Value	[6],[9],[10],[21]			$ 38,842
Investment, Identifier [Axis]: Cadence Aerospace, LLC, Senior Secured First Lien Debt, 11/14/2024 Maturity
Principal Amount	[3],[4],[5],[8]	12,642
Cost	[4],[5],[8]	12,610
Fair Value	[4],[5],[8]	$ 12,627
Investment, Identifier [Axis]: Carestream Health Holdings Inc., Common Stock, Equity Securities
Principal Units (in shares)		613,262	[3],[15],[16]	613,262	[17],[18]
Cost		$ 21,758	[15],[16]	$ 21,758	[17],[18]
Fair Value		20,716	[15],[16]	21,544	[17],[18]
Investment, Identifier [Axis]: Carestream Health, Inc., First Lien Term Loan, Non-Controlled, Affiliated Investments
Fair Value		11,423		7,539		0
Investment, Identifier [Axis]: Carestream Health, Inc., Senior Secured First Lien Debt, 9/30/2027 Maturity
Principal Amount		11,481	[3],[4],[15],[29]	7,596	[6],[17],[28]
Cost		10,376	[4],[15],[29]	7,596	[6],[17],[28]
Fair Value		11,423	[4],[15],[29]	7,539	[6],[17],[28]
Investment, Identifier [Axis]: Carestream, Common Shares, Non-Controlled, Affiliated Investments
Fair Value		20,716		21,544		0
Investment, Identifier [Axis]: Celerity Acquisition Holdings, LLC, Senior Secured First Lien Debt, 5/28/2026 Maturity
Principal Amount		16,000	[3],[5],[8]	14,775	[9],[10]
Cost		15,976	[5],[8]	14,775	[9],[10]
Fair Value		16,000	[5],[8]	14,590	[9],[10]
Investment, Identifier [Axis]: Cennox, Inc., Senior Secured First Lien Debt, 11/22/2023 Maturity, 4
Principal Amount	[3]	7,193
Cost		(45)
Fair Value		(27)
Investment, Identifier [Axis]: Cennox, Inc., Senior Secured First Lien Debt, 5/4/2026 Maturity, 1
Principal Amount		22,455	[3],[5],[8]	22,509	[9],[10]
Cost		22,455	[5],[8]	22,509	[9],[10]
Fair Value		22,371	[5],[8]	22,425	[9],[10]
Investment, Identifier [Axis]: Cennox, Inc., Senior Secured First Lien Debt, 5/4/2026 Maturity, 2
Principal Amount		11,552	[3],[4],[5],[8]	11,787	[6],[10]
Cost		11,548	[4],[5],[8]	11,730	[6],[10]
Fair Value		11,509	[4],[5],[8]	11,743	[6],[10]
Investment, Identifier [Axis]: Cennox, Inc., Senior Secured First Lien Debt, 5/4/2026 Maturity, 3
Principal Amount		2,987	[3],[5]	2,614
Cost		2,987	[5]	2,614
Fair Value		2,976	[5]	2,604
Investment, Identifier [Axis]: Cennox, Inc., Senior Secured First Lien Debt, 5/4/2026 Maturity, 5
Principal Amount				373
Cost				0
Fair Value				(1)
Investment, Identifier [Axis]: Cennox, Inc., Senior Secured First Lien Debt, 8/11/2023 Maturity, 4
Principal Amount				7,193
Cost				0
Fair Value				(27)
Investment, Identifier [Axis]: Charming Charlie, LLC, Vendor Payment Financing Facility, Non-Controlled, Affiliated Investments
Fair Value				0		350
Investment, Identifier [Axis]: CircusTrix Holdings, LLC., Senior Secured First Lien Debt, 1/16/2024 Maturity, 1
Principal Amount		26,702	[3],[4],[8],[29]	26,824	[6],[9],[23]
Cost		26,666	[4],[8],[29]	26,782	[6],[9],[23]
Fair Value		26,702	[4],[8],[29]	26,824	[6],[9],[23]
Investment, Identifier [Axis]: CircusTrix Holdings, LLC., Senior Secured First Lien Debt, 1/16/2024 Maturity, 2
Principal Amount		2,719	[3],[8],[29]	2,737	[9],[23]
Cost		2,697	[8],[29]	2,715	[9],[23]
Fair Value		2,719	[8],[29]	2,737	[9],[23]
Investment, Identifier [Axis]: CircusTrix Holdings, LLC., Senior Secured First Lien Debt, 1/16/2024 Maturity, 3
Principal Amount	[9],[23]			1,560
Cost	[9],[23]			1,525
Fair Value	[9],[23]			1,862
Investment, Identifier [Axis]: CircusTrix Holdings, LLC., Senior Secured First Lien Debt, 7/16/2023 Maturity, 3
Principal Amount	[3],[8],[29]	753
Cost	[8],[29]	751
Fair Value	[8],[29]	902
Investment, Identifier [Axis]: Community Tree Service, LLC., Senior Secured First Lien Debt, 6/17/2027 Maturity
Principal Amount		11,513	[3],[5],[8]	12,469	[7]
Cost		11,513	[5],[8]	12,469	[7]
Fair Value		11,312	[5],[8]	12,219	[7]
Investment, Identifier [Axis]: Country Fresh Holdings, LLC., Senior Secured First Lien Debt, 4/29/2023 Maturity, 1
Principal Amount		844	[3],[20],[27]	877	[10],[26]
Cost		663	[20],[27]	765	[10],[26]
Fair Value		60	[20],[27]	92	[10],[26]
Investment, Identifier [Axis]: Country Fresh Holdings, LLC., Senior Secured First Lien Debt, 4/29/2023 Maturity, 2
Principal Amount		342	[3],[20],[27]	355	[10],[26]
Cost		276	[20],[27]	316	[10],[26]
Fair Value		24	[20],[27]	37	[10],[26]
Investment, Identifier [Axis]: Coyote Buyer, LLC., Senior Secured First Lien Debt, 2/6/2025 Maturity, 1
Principal Amount		33,863	[3],[4],[5],[8]	34,038	[6],[9],[10]
Cost		33,729	[4],[5],[8]	33,861	[6],[9],[10]
Fair Value		33,524	[4],[5],[8]	33,612	[6],[9],[10]
Investment, Identifier [Axis]: Coyote Buyer, LLC., Senior Secured First Lien Debt, 2/6/2025 Maturity, 2
Principal Amount		1,000	[3],[5]	6,125	[6],[10]
Cost		1,000	[5]	6,041	[6],[10]
Fair Value		990	[5]	6,125	[6],[10]
Investment, Identifier [Axis]: Coyote Buyer, LLC., Senior Secured First Lien Debt, 2/6/2025 Maturity, 3
Principal Amount		1,500	[3]	2,500
Cost		0		0
Fair Value		(15)		(31)
Investment, Identifier [Axis]: Coyote Buyer, LLC., Senior Secured First Lien Debt, 8/6/2026 Maturity
Principal Amount	[3],[4],[5]	6,094
Cost	[4],[5]	6,020
Fair Value	[4],[5]	6,094
Investment, Identifier [Axis]: Critical Nurse Staffing, LLC., Senior Secured First Lien Debt, 11/1/2026 Maturity, 1
Principal Amount		12,863	[3],[5],[8]	12,928	[9],[10]
Cost		12,863	[5],[8]	12,928	[9],[10]
Fair Value		12,863	[5],[8]	12,928	[9],[10]
Investment, Identifier [Axis]: Critical Nurse Staffing, LLC., Senior Secured First Lien Debt, 11/1/2026 Maturity, 2
Principal Amount		994	[3],[5],[8]	999	[10]
Cost		994	[5],[8]	999	[10]
Fair Value		994	[5],[8]	999	[10]
Investment, Identifier [Axis]: Critical Nurse Staffing, LLC., Senior Secured First Lien Debt, 11/1/2026 Maturity, 3
Principal Amount		460	[3],[5]	300	[23]
Cost		460	[5]	300	[23]
Fair Value		460	[5]	300	[23]
Investment, Identifier [Axis]: Critical Nurse Staffing, LLC., Senior Secured First Lien Debt, 11/1/2026 Maturity, 4
Principal Amount		4,899	[3]	4,899
Cost		0		0
Fair Value		0		0
Investment, Identifier [Axis]: Critical Nurse Staffing, LLC., Senior Secured First Lien Debt, 11/1/2026 Maturity, 5
Principal Amount		540	[3]	700
Cost		0		0
Fair Value		$ 0		$ 0
Investment, Identifier [Axis]: DBI Investors, Inc., Common Stock., Equity
Principal Units (in shares)		39,423	[3],[16]	39,423	[18]
Cost		$ 0	[16]	$ 0	[18]
Fair Value		$ 0	[16]	$ 0	[18]
Investment, Identifier [Axis]: DBI Investors, Inc., Reallocation Rights., Equity
Principal Units (in shares)		7,500	[3],[16]	7,500	[18]
Cost		$ 0	[16]	$ 0	[18]
Fair Value		$ 0	[16]	$ 0	[18]
Investment, Identifier [Axis]: DBI Investors, Inc., Series A Preferred Stock., Equity
Principal Units (in shares)		1,396	[3],[16]	1,396	[18]
Cost		$ 140	[16]	$ 140	[18]
Fair Value		$ 0	[16]	$ 2	[18]
Investment, Identifier [Axis]: DBI Investors, Inc., Series A1 Preferred Stock., Equity
Principal Units (in shares)		20,000	[3],[16]	20,000	[18]
Cost		$ 802	[16]	$ 802	[18]
Fair Value		$ 0	[16]	$ 28	[18]
Investment, Identifier [Axis]: DBI Investors, Inc., Series A2 Preferred Stock., Equity
Principal Units (in shares)		1,733	[3],[16]	1,733	[18]
Cost		$ 0	[16]	$ 0	[18]
Fair Value		$ 0	[16]	$ 2	[18]
Investment, Identifier [Axis]: DBI Investors, Inc., Series B Preferred Stock., Equity
Principal Units (in shares)		4,183	[3],[16]	4,183	[18]
Cost		$ 410	[16]	$ 410	[18]
Fair Value		0	[16]	2	[18]
Investment, Identifier [Axis]: DESG Holdings, Inc., First Lien Term Loan, Non-Controlled, Affiliated Investments
Fair Value		130		246		1,787
Investment, Identifier [Axis]: DESG Holdings, Inc., Second Lien Term Loan, Non-Controlled, Affiliated Investments
Fair Value				0		0
Investment, Identifier [Axis]: DMT Solutions Global Corp., Senior Secured First Lien Debt, 7/2/2024 Maturity
Principal Amount		3,846	[3],[4],[32]	3,974	[6],[33]
Cost		3,825	[4],[32]	3,942	[6],[33]
Fair Value		3,808	[4],[32]	3,766	[6],[33]
Investment, Identifier [Axis]: DMT Solutions Global Corp., Senior Secured First Lien Debt, 7/2/2024 Maturity, 3 Month LIBOR
Principal Amount		1,750		2,096
Investment, Identifier [Axis]: DMT Solutions Global Corp., Senior Secured First Lien Debt, 7/2/2024 Maturity, 6 Month LIBOR
Principal Amount		2,096		1,943
Investment, Identifier [Axis]: David's Bridal, LLC., Senior Secured First Lien Debt, 12/23/2024 Maturity, 1
Principal Amount	[3],[19],[20],[27],[34]	6,014
Cost	[19],[20],[27],[34]	5,457
Fair Value	[19],[20],[27],[34]	0
Investment, Identifier [Axis]: David's Bridal, LLC., Senior Secured First Lien Debt, 12/31/2024 Maturity, 2
Principal Amount	[3],[19],[20],[27],[34]	865
Cost	[19],[20],[27],[34]	793
Fair Value	[19],[20],[27],[34]	0
Investment, Identifier [Axis]: David's Bridal, LLC., Senior Secured First Lien Debt, 12/31/2024 Maturity, 4
Principal Amount	[21],[23],[26]			845
Cost	[21],[23],[26]			795
Fair Value	[21],[23],[26]			51
Investment, Identifier [Axis]: David's Bridal, LLC., Senior Secured First Lien Debt, 5/23/2024 Maturity, 1
Principal Amount		13,331	[3],[8],[19],[20],[27],[34]	13,000	[9],[10],[21]
Cost		12,419	[8],[19],[20],[27],[34]	12,744	[9],[10],[21]
Fair Value		10,798	[8],[19],[20],[27],[34]	13,130	[9],[10],[21]
Investment, Identifier [Axis]: David's Bridal, LLC., Senior Secured First Lien Debt, 5/23/2024 Maturity, 2
Principal Amount		5,491	[3],[8],[19],[20],[27],[34]	5,357	[10],[21]
Cost		5,426	[8],[19],[20],[27],[34]	5,357	[10],[21]
Fair Value		4,448	[8],[19],[20],[27],[34]	5,210	[10],[21]
Investment, Identifier [Axis]: David's Bridal, LLC., Senior Secured First Lien Debt, 5/23/2024 Maturity, 3
Principal Amount	[10],[21]			5,936
Cost	[10],[21]			5,717
Fair Value	[10],[21]			2,256
Investment, Identifier [Axis]: Delayed Draw First Lien Term Loan, Non-Controlled, Affiliated Investments
Fair Value		0		156
Investment, Identifier [Axis]: Deluxe Entertainment Services, Inc., Senior Secured First Lien Debt, 3/25/2024 Maturity
Principal Amount		2,603	[3],[8],[15],[19],[20],[27]	2,664	[9],[10],[17],[21],[26]
Cost		2,542	[8],[15],[19],[20],[27]	2,624	[9],[10],[17],[21],[26]
Fair Value		130	[8],[15],[19],[20],[27]	246	[9],[10],[17],[21],[26]
Investment, Identifier [Axis]: Dermcare Management, LLC., Senior Secured First Lien Debt, 10/22/2023 Maturity, 4
Principal Amount		698	[3]	698
Cost		0		0
Fair Value		0		(4)
Investment, Identifier [Axis]: Dermcare Management, LLC., Senior Secured First Lien Debt, 4/22/2028 Maturity, 1
Principal Amount		9,309	[3],[8],[29]	9,356	[9],[28]
Cost		9,147	[8],[29]	9,178	[9],[28]
Fair Value		9,309	[8],[29]	9,297	[9],[28]
Investment, Identifier [Axis]: Dermcare Management, LLC., Senior Secured First Lien Debt, 4/22/2028 Maturity, 2
Principal Amount		3,523	[3],[8],[29]	3,540	[28]
Cost		3,447	[8],[29]	3,458	[28]
Fair Value		3,523	[8],[29]	3,518	[28]
Investment, Identifier [Axis]: Dermcare Management, LLC., Senior Secured First Lien Debt, 4/22/2028 Maturity, 3
Principal Amount		358	[3]	179
Cost		358		179
Fair Value		358		178
Investment, Identifier [Axis]: Dermcare Management, LLC., Senior Secured First Lien Debt, 4/22/2028 Maturity, 5
Principal Amount		985	[3]	1,164
Cost		0		0
Fair Value		0		(7)
Investment, Identifier [Axis]: Emerald Technologies (U.S.) Acquisitionco, Inc.., Senior Secured First Lien Debt, 12/29/2027 Maturity
Principal Amount		2,906	[3],[4],[29]	2,944	[6],[28]
Cost		2,859	[4],[29]	2,891	[6],[28]
Fair Value		2,805	[4],[29]	2,794	[6],[28]
Investment, Identifier [Axis]: Entertainment Studios P&A LLC., Senior Secured First Lien Debt, 5/18/2037 Maturity
Principal Amount	[3],[35]	0
Cost	[35]	0
Fair Value	[35]	1,045
Investment, Identifier [Axis]: Entertainment Studios P&A LLC., Senior Secured First Lien Debt, 5/18/2037 Maturity, 1
Principal Amount	[36]			0
Cost	[36]			0
Fair Value	[36]			1,654
Investment, Identifier [Axis]: Entertainment Studios P&A LLC., Senior Secured First Lien Debt, 9/28/2027 Maturity
Principal Amount	[3],[5],[8]	23,049
Cost	[5],[8]	22,965
Fair Value	[5],[8]	$ 23,049
Investment, Identifier [Axis]: Entertainment Studios P&A LLC., Senior Secured First Lien Debt, 9/28/2027 Maturity, 2
Principal Amount	[7],[9],[10]			24,000
Cost	[7],[9],[10]			23,907
Fair Value	[7],[9],[10]			$ 23,940
Investment, Identifier [Axis]: FWS Parent Holdings, LLC, Class A Membership Interests, Equity
Principal Units (in shares)	[3],[16]	35,242
Cost	[16]	$ 800
Fair Value	[16]	467
Investment, Identifier [Axis]: FWS Parent Holdings, LLC. Class A Membership Interests, Equity
Principal Units (in shares)	[18]			35,242
Cost	[18]			$ 800
Fair Value	[18]			742
Investment, Identifier [Axis]: First American Treasury Obligations Fund, Class Z Shares
Cost		1,443
Fair Value		1,443
Investment, Identifier [Axis]: First American Treasury Obligations Fund, Class Z Shares, Short Term Investments
Cost		100,771
Fair Value		100,771
Investment, Identifier [Axis]: First American Treasury Obligations Fund., Short Term Investments
Cost				10,869
Fair Value				10,869
Investment, Identifier [Axis]: Flatworld Intermediate Corp., Senior Secured First Lien Debt, 10/3/2027 Maturity, 1
Principal Amount	[6],[28]			25,135
Cost	[6],[28]			25,135
Fair Value	[6],[28]			25,135
Investment, Identifier [Axis]: Flatworld Intermediate Corp., Senior Secured First Lien Debt, 10/3/2027 Maturity, 2
Principal Amount				5,865
Cost				0
Fair Value				0
Investment, Identifier [Axis]: Flatworld Intermediate Corp.., Senior Secured First Lien Debt, 10/3/2027 Maturity, 1
Principal Amount	[3],[4],[5]	25,009
Cost	[4],[5]	25,009
Fair Value	[4],[5]	25,197
Investment, Identifier [Axis]: Flatworld Intermediate Corp.., Senior Secured First Lien Debt, 10/3/2027 Maturity, 2
Principal Amount	[3]	5,865
Cost		0
Fair Value		44
Investment, Identifier [Axis]: Florida Food Products, LLC, 10/18/2028 Maturity
Principal Amount	[3]	2,244
Cost		1,863
Fair Value		1,930
Investment, Identifier [Axis]: FuseFX, LLC., Senior Secured First Lien Debt, 10/1/2024 Maturity
Principal Amount		19,693	[3],[4],[5],[8]	19,795	[6],[9],[23]
Cost		19,610	[4],[5],[8]	19,663	[6],[9],[23]
Fair Value		19,398	[4],[5],[8]	19,647	[6],[9],[23]
Investment, Identifier [Axis]: Fusion Connect Inc., Senior Secured First Lien Debt, 1/18/2027 Maturity
Principal Amount		19,540	[3],[5],[8],[19]	19,626	[9],[10],[21]
Cost		19,113	[5],[8],[19]	19,141	[9],[10],[21]
Fair Value		19,540	[5],[8],[19]	19,626	[9],[10],[21]
Investment, Identifier [Axis]: Future Pak, LLC., Senior Secured First Lien Debt, 7/2/2024 Maturity
Principal Amount		20,128	[3],[8],[29]	24,169	[9],[23]
Cost		20,128	[8],[29]	24,169	[9],[23]
Fair Value		20,128	[8],[29]	23,776	[9],[23]
Investment, Identifier [Axis]: GSC Technologies Inc., Common Shares, Non-Controlled, Affiliated Investments
Fair Value		$ 0		$ 0		0
Investment, Identifier [Axis]: GSC Technologies Inc., Common Shares., Equity
Principal Units (in shares)		807,268	[3],[15],[16]	807,268	[17],[18]
Cost		$ 0	[15],[16]	$ 0	[17],[18]
Fair Value		0	[15],[16]	0	[17],[18]
Investment, Identifier [Axis]: GSC Technologies Inc., First Lien Term Loan A, Non-Controlled, Affiliated Investments
Fair Value		2,127		2,064		2,001
Investment, Identifier [Axis]: GSC Technologies Inc., First Lien Term Loan B, Non-Controlled, Affiliated Investments
Fair Value		694		388		485
Investment, Identifier [Axis]: GSC Technologies Inc., Incremental Term Loan, Non-Controlled, Affiliated Investments
Fair Value		0		154		170
Investment, Identifier [Axis]: GSC Technologies Inc., Senior Secured First Lien Debt, 9/30/2025 Maturity, 1
Principal Amount		2,404	[3],[15],[29]	2,404	[17],[23]
Cost		2,336	[15],[29]	2,322	[17],[23]
Fair Value		2,127	[15],[29]	2,064	[17],[23]
Investment, Identifier [Axis]: GSC Technologies Inc., Senior Secured First Lien Debt, 9/30/2025 Maturity, 2
Principal Amount		957	[3],[15],[19],[29]	915	[17],[21],[23]
Cost		930	[15],[19],[29]	882	[17],[21],[23]
Fair Value		694	[15],[19],[29]	388	[17],[21],[23]
Investment, Identifier [Axis]: GSC Technologies Inc., Senior Secured First Lien Debt, 9/30/2025 Maturity, 3
Principal Amount	[10],[17],[21]			154
Cost	[10],[17],[21]			154
Fair Value	[10],[17],[21]			154
Investment, Identifier [Axis]: Galaxy XV CLO Ltd. Class A Subordinated Notes., Collateralized Securities and Structured Products - Equity, 4/15/2025 Maturity
Principal Amount		4,000	[3],[11],[12]	4,000	[13],[14]
Cost		1,293	[11],[12]	1,441	[13],[14]
Fair Value		1,033	[11],[12]	1,108	[13],[14]
Investment, Identifier [Axis]: Global Tel*Link Corp., Senior Secured Second Lien Debt, 11/29/2026 Maturity
Principal Amount		11,500	[3],[4],[5]	11,500	[6],[7]
Cost		11,393	[4],[5]	11,378	[6],[7]
Fair Value		11,428	[4],[5]	11,414	[6],[7]
Investment, Identifier [Axis]: Gold Medal Holdings, Inc., Senior Secured First Lien Debt, 3/17/2027 Maturity
Principal Amount		14,722	[3],[5],[8]	14,759	[7],[9]
Cost		14,606	[5],[8]	14,628	[7],[9]
Fair Value		14,722	[5],[8]	14,575	[7],[9]
Investment, Identifier [Axis]: H.W. Lochner, Inc., Senior Secured First Lien Debt, 7/2/2027 Maturity, 1
Principal Amount		10,373	[3],[5],[8]	8,850	[9],[10]
Cost		11,612	[5],[8]	8,779	[9],[10]
Fair Value		10,463	[5],[8]	8,850	[9],[10]
Investment, Identifier [Axis]: H.W. Lochner, Inc., Senior Secured First Lien Debt, 7/2/2027 Maturity, 2
Principal Amount		8,805	[3],[5],[8]	7,457	[7],[9]
Cost		7,221	[5],[8]	7,234	[7],[9]
Fair Value		8,827	[5],[8]	7,233	[7],[9]
Investment, Identifier [Axis]: H.W. Lochner, Inc., Senior Secured First Lien Debt, 7/2/2027 Maturity, 3
Principal Amount		775	[3],[5]	775	[10]
Cost		765	[5]	765	[10]
Fair Value		777	[5]	775	[10]
Investment, Identifier [Axis]: H.W. Lochner, Inc., Senior Secured First Lien Debt, 7/2/2027 Maturity, 4
Principal Amount		225	[3]	225
Cost		0		0
Fair Value		1		0
Investment, Identifier [Axis]: HUMC Holdco, LLC., Senior Secured First Lien Debt, 11/4/2023 Maturity
Principal Amount		7,805	[3],[8],[20]	7,933	[7],[9]
Cost		7,805	[8],[20]	7,933	[7],[9]
Fair Value		7,805	[8],[20]	7,933	[7],[9]
Investment, Identifier [Axis]: HW Acquisition, LLC., Senior Secured First Lien Debt, 9/28/2026 Maturity, 1
Principal Amount		18,781	[3],[8]	733
Cost		18,652	[8]	711
Fair Value		15,165	[8]	686
Investment, Identifier [Axis]: HW Acquisition, LLC., Senior Secured First Lien Debt, 9/28/2026 Maturity, 2
Principal Amount		733	[3]	18,876	[9]
Cost		714		18,725	[9]
Fair Value		592		17,649	[9]
Investment, Identifier [Axis]: HW Acquisition, LLC., Senior Secured First Lien Debt, 9/28/2026 Maturity, 3
Principal Amount		2,200	[3]	2,200
Cost		0		0
Fair Value		(424)		(143)
Investment, Identifier [Axis]: Harland Clarke Holdings Corp., Senior Secured First Lien Debt, 6/16/2026 Maturity
Principal Amount		9,186	[3],[5],[8]	9,186	[9],[10]
Cost		9,180	[5],[8]	9,177	[9],[10]
Fair Value		8,727	[5],[8]	7,625	[9],[10]
Investment, Identifier [Axis]: Heritage Power, LLC., Senior Secured First Lien Debt, 7/30/2026 Maturity
Principal Amount		8,622	[3]	8,622	[10]
Cost		6,979		6,837	[10]
Fair Value		3,794		4,527	[10]
Investment, Identifier [Axis]: Hilliard, Martinez & Gonzales, LLP., Senior Secured First Lien Debt, 12/17/2023 Maturity
Principal Amount		23,703	[3],[8],[19],[29]	21,798	[9],[21],[23]
Cost		23,681	[8],[19],[29]	21,736	[9],[21],[23]
Fair Value		23,733	[8],[19],[29]	21,798	[9],[21],[23]
Investment, Identifier [Axis]: Hollander Intermediate LLC., Senior Secured First Lien Debt, 9/19/2026 Maturity
Principal Amount		17,140	[3],[5],[8]	17,358	[7],[9],[23]
Cost		16,740	[5],[8]	16,915	[7],[9],[23]
Fair Value		16,711	[5],[8]	16,794	[7],[9],[23]
Investment, Identifier [Axis]: Homer City Generation, L.P., Senior Secured First Lien Debt, 1/29/2023 Maturity, 3
Principal Amount	[18]			3,000
Cost	[18]			0
Fair Value	[18]			0
Investment, Identifier [Axis]: Homer City Generation, L.P., Senior Secured First Lien Debt, 10/1/2024 Maturity, 1
Principal Amount	[3],[8],[19],[27]	12,222
Cost	[8],[19],[27]	12,024
Fair Value	[8],[19],[27]	8,128
Investment, Identifier [Axis]: Homer City Generation, L.P., Senior Secured First Lien Debt, 4/5/2023 Maturity, 1
Principal Amount	[9],[21]			11,782
Cost	[9],[21]			12,078
Fair Value	[9],[21]			9,308
Investment, Identifier [Axis]: Homer City Generation, L.P., Senior Secured First Lien Debt, 5/31/2023 Maturity, 2
Principal Amount				1,000
Cost				1,000
Fair Value				1,000
Investment, Identifier [Axis]: Homer City Generation, L.P., Senior Secured First Lien Debt, 5/31/2023 Maturity, 2
Principal Amount	[3],[19]	1,000
Cost	[19]	1,000
Fair Value	[19]	1,015
Investment, Identifier [Axis]: Hudson Hospital Opco, LLC, Senior Secured First Lien Debt, 11/4/2024 Maturity
Principal Amount	[6],[7],[9]			1,700
Cost	[6],[7],[9]			1,667
Fair Value	[6],[7],[9]			1,673
Investment, Identifier [Axis]: Hudson Hospital Opco, LLC., Senior Secured First Lien Debt, 11/4/2023 Maturity
Principal Amount	[3],[4],[8],[29]	2,186
Cost	[4],[8],[29]	2,149
Fair Value	[4],[8],[29]	2,169
Investment, Identifier [Axis]: ICA Foam Holdings, LLC, Senior Secured First Lien Debt, 11/5/2025 Maturity, 2
Principal Amount	[7],[9]			19,950
Cost	[7],[9]			19,567
Fair Value	[7],[9]			19,551
Investment, Identifier [Axis]: ICA Foam Holdings, LLC., Senior Secured First Lien Debt, 11/5/2025 Maturity
Principal Amount	[3],[5],[8]	19,850
Cost	[5],[8]	19,539
Fair Value	[5],[8]	19,453
Investment, Identifier [Axis]: IJKG Opco LLC, Senior Secured First Lien Debt, 11/4/2023 Maturity, 2
Principal Amount	[6],[7],[9]			729
Cost	[6],[7],[9]			714
Fair Value	[6],[7],[9]			718
Investment, Identifier [Axis]: IJKG Opco LLC., Senior Secured First Lien Debt, 11/4/2023 Maturity
Principal Amount	[3],[4],[8],[29]	1,457
Cost	[4],[8],[29]	1,436
Fair Value	[4],[8],[29]	1,446
Investment, Identifier [Axis]: INW Manufacturing, LLC., Senior Secured First Lien Debt, 3/25/2027 Maturity
Principal Amount		18,250	[3],[4],[20]	18,750	[6],[10]
Cost		17,871	[4],[20]	18,317	[6],[10]
Fair Value		16,813	[4],[20]	17,766	[6],[10]
Investment, Identifier [Axis]: IPP Buyer Holdings, LLC
Fair Value		$ 11,733		$ 0
Investment, Identifier [Axis]: IPP Buyer Holdings, LLC., Equity
Principal Units (in shares)	[3],[15],[16]	8,888,354
Cost	[15],[16]	$ 10,740
Fair Value	[15],[16]	11,733
Investment, Identifier [Axis]: Independent Pet Partners Intermediate Holdings, LLC, Class A Preferred Units., Equity
Principal Units (in shares)	[18]			1,000,000
Cost	[18]			$ 1,000
Fair Value	[18]			$ 60
Investment, Identifier [Axis]: Independent Pet Partners Intermediate Holdings, LLC, Class B-2 Preferred Units., Equity
Principal Units (in shares)	[9],[18]			2,632,771
Cost	[9],[18]			$ 2,133
Fair Value	[9],[18]			$ 3,238
Investment, Identifier [Axis]: Independent Pet Partners Intermediate Holdings, LLC, Class C Preferred Units., Equity
Principal Units (in shares)	[9],[18]			2,632,771
Cost	[9],[18]			$ 2,633
Fair Value	[9],[18]			$ 2,238
Investment, Identifier [Axis]: Independent Pet Partners Intermediate Holdings, LLC, Warrants., Equity
Principal Units (in shares)	[18]			155,880
Cost	[18]			$ 0
Fair Value	[18]			0
Investment, Identifier [Axis]: Independent Pet Partners Intermediate Holdings, LLC., Senior Secured First Lien Debt, 11/20/2023 Maturity, 1
Principal Amount	[21]			10,934
Cost	[21]			10,906
Fair Value	[21]			10,169
Investment, Identifier [Axis]: Independent Pet Partners Intermediate Holdings, LLC., Senior Secured First Lien Debt, 2/27/2023 Maturity, 2
Principal Amount	[21]			2,238
Cost	[21]			2,238
Fair Value	[21]			2,216
Investment, Identifier [Axis]: Independent Pet Partners Intermediate Holdings, LLC., Senior Secured First Lien Debt, 2/27/2023 Maturity, 3
Principal Amount	[10],[21]			281
Cost	[10],[21]			281
Fair Value	[10],[21]			278
Investment, Identifier [Axis]: Independent Pet Partners Intermediate Holdings, LLC., Senior Secured First Lien Debt, 2/27/2023 Maturity, 4
Principal Amount	[7],[21]			473
Cost	[7],[21]			459
Fair Value	[7],[21]			473
Investment, Identifier [Axis]: Infogroup Inc., Senior Secured First Lien Debt, 4/3/2023 Maturity
Principal Amount	[6],[9],[10]			15,270
Cost	[6],[9],[10]			15,269
Fair Value	[6],[9],[10]			15,270
Investment, Identifier [Axis]: Inotiv, Inc., Senior Secured First Lien Debt, 11/5/2026 Maturity
Principal Amount	[3],[8],[24]	16,365
Cost	[8],[24]	16,144
Fair Value	[8],[24]	15,793
Investment, Identifier [Axis]: Inotiv, Inc., Senior Secured First Lien Debt, 11/5/2026 Maturity, 1
Principal Amount	[9],[10]			16,351
Cost	[9],[10]			16,094
Fair Value	[9],[10]			15,738
Investment, Identifier [Axis]: Instant Web Holdings, LLC, Class A Common Units, Non-Controlled, Affiliated Investments
Fair Value		$ 0		$ 0		0
Investment, Identifier [Axis]: Instant Web Holdings, LLC, Class A Common Units., Equity
Principal Units (in shares)		10,819	[3],[15],[16]	10,819	[17],[18]
Cost		$ 0	[15],[16]	$ 0	[17],[18]
Fair Value		0	[15],[16]	0	[17],[18]
Investment, Identifier [Axis]: Instant Web, LLC, First Lien Delayed Draw Term Loan, Non-Controlled, Affiliated Investments
Fair Value		(89)		0		0
Investment, Identifier [Axis]: Instant Web, LLC, First Lien Term Loan, Non-Controlled, Affiliated Investments
Fair Value		25,349		28,167		0
Investment, Identifier [Axis]: Instant Web, LLC, Priming Term Loan, Non-Controlled, Affiliated Investments
Fair Value		479		469		0
Investment, Identifier [Axis]: Instant Web, LLC, Revolving Loan, Non-Controlled, Affiliated Investments
Fair Value		2,339		321		0
Investment, Identifier [Axis]: Instant Web, LLC., Senior Secured First Lien Debt, 2/25/2027 Maturity, 1
Principal Amount		42,249	[3],[15],[19],[29]	39,812	[6],[9],[17],[21],[23]
Cost		42,249	[15],[19],[29]	39,802	[6],[9],[17],[21],[23]
Fair Value		25,349	[15],[19],[29]	28,167	[6],[9],[17],[21],[23]
Investment, Identifier [Axis]: Instant Web, LLC., Senior Secured First Lien Debt, 2/25/2027 Maturity, 2
Principal Amount		2,414	[3],[15],[19],[29]	458	[17]
Cost		2,414	[15],[19],[29]	458	[17]
Fair Value		2,348	[15],[19],[29]	469	[17]
Investment, Identifier [Axis]: Instant Web, LLC., Senior Secured First Lien Debt, 2/25/2027 Maturity, 3
Principal Amount		467	[3],[15],[19]	321	[10],[17]
Cost		467	[15],[19]	321	[10],[17]
Fair Value		479	[15],[19]	321	[10],[17]
Investment, Identifier [Axis]: Instant Web, LLC., Senior Secured First Lien Debt, 2/25/2027 Maturity, 4
Principal Amount		328	[3],[15]	2,383	[17]
Cost		0	[15]	0	[17]
Fair Value		(9)	[15]	0	[17]
Investment, Identifier [Axis]: Instant Web, LLC., Senior Secured First Lien Debt, 2/25/2027 Maturity, 5
Principal Amount		3,246	[3],[15]	3,246	[17]
Cost		0	[15]	0	[17]
Fair Value		(89)	[15]	0	[17]
Investment, Identifier [Axis]: Invincible Boat Company LLC., Senior Secured First Lien Debt, 8/28/2025 Maturity, 1
Principal Amount		13,536	[3],[8],[20]	13,536	[9],[10]
Cost		13,464	[8],[20]	13,444	[9],[10]
Fair Value		13,536	[8],[20]	13,469	[9],[10]
Investment, Identifier [Axis]: Invincible Boat Company LLC., Senior Secured First Lien Debt, 8/28/2025 Maturity, 2
Principal Amount		479	[3],[20]	239	[10]
Cost		479	[20]	239	[10]
Fair Value		479	[20]	238	[10]
Investment, Identifier [Axis]: Invincible Boat Company LLC., Senior Secured First Lien Debt, 8/28/2025 Maturity, 3
Principal Amount		319	[3]	559
Cost		0		0
Fair Value		0		(3)
Investment, Identifier [Axis]: Ironhorse Purchaser, LLC, Senior Secured First Lien Debt, 9/30/2027 Maturity 1
Principal Amount	[6],[7]			7,125
Cost	[6],[7]			7,056
Fair Value	[6],[7]			7,054
Investment, Identifier [Axis]: Ironhorse Purchaser, LLC, Senior Secured First Lien Debt, 9/30/2027 Maturity 2
Principal Amount	[7]			388
Cost	[7]			380
Fair Value	[7]			384
Investment, Identifier [Axis]: Ironhorse Purchaser, LLC, Senior Secured First Lien Debt, 9/30/2027 Maturity 3
Principal Amount				429
Cost				0
Fair Value				(4)
Investment, Identifier [Axis]: Ironhorse Purchaser, LLC, Senior Secured First Lien Debt, 9/30/2027 Maturity 4
Principal Amount				2,041
Cost				(20)
Fair Value				(20)
Investment, Identifier [Axis]: Ironhorse Purchaser, LLC., Senior Secured First Lien Debt, 9/30/2024 Maturity
Principal Amount	[3],[5]	2,031
Cost	[5]	2,014
Fair Value	[5]	2,031
Investment, Identifier [Axis]: Ironhorse Purchaser, LLC., Senior Secured First Lien Debt, 9/30/2027 Maturity 1
Principal Amount	[3],[4],[5]	7,089
Cost	[4],[5]	7,028
Fair Value	[4],[5]	7,089
Investment, Identifier [Axis]: Ironhorse Purchaser, LLC., Senior Secured First Lien Debt, 9/30/2027 Maturity 3
Principal Amount	[3],[5]	517
Cost	[5]	510
Fair Value	[5]	517
Investment, Identifier [Axis]: Ironhorse Purchaser, LLC., Senior Secured First Lien Debt, 9/30/2027 Maturity 4
Principal Amount	[3]	299
Cost		0
Fair Value		0
Investment, Identifier [Axis]: Isagenix International, LLC, First Lien Term Loan
Fair Value		8,237		0
Investment, Identifier [Axis]: Isagenix International, LLC., Senior Secured First Lien Debt, 4/14/2028 Maturity
Principal Amount	[3],[5],[15]	8,237
Cost	[5],[15]	8,237
Fair Value	[5],[15]	8,237
Investment, Identifier [Axis]: Isagenix International, LLC., Senior Secured First Lien Debt, 6/14/2025 Maturity
Principal Amount	[9],[10]			16,229
Cost	[9],[10]			15,103
Fair Value	[9],[10]			13,774
Investment, Identifier [Axis]: Isagenix Worldwide, Inc.
Fair Value		$ 8,987		0
Investment, Identifier [Axis]: Isagenix Worldwide, Inc. Equity
Principal Units (in shares)	[3],[15],[16]	601,941
Cost	[15],[16]	$ 8,987
Fair Value	[15],[16]	8,987
Investment, Identifier [Axis]: JP Intermediate B, LLC., Senior Secured First Lien Debt, 11/20/2025 Maturity
Principal Amount	[9],[10]			13,438
Cost	[9],[10]			13,296
Fair Value	[9],[10]			9,809
Investment, Identifier [Axis]: JP Intermediate B, LLC., Senior Secured First Lien Debt, 11/20/2027 Maturity
Principal Amount	[3],[8],[20]	12,979
Cost	[8],[20]	12,867
Fair Value	[8],[20]	10,091
Investment, Identifier [Axis]: Jenny C Acquisition, Inc., Senior Secured First Lien Debt, 10/1/2024 Maturity
Principal Amount	[10],[26]			11,789
Cost	[10],[26]			11,745
Fair Value	[10],[26]			9,241
Investment, Identifier [Axis]: Jenny C Acquisition, Inc., Senior Secured First Lien Debt, 10/1/2024 Maturity, 1
Principal Amount	[3],[20],[27]	11,789
Cost	[20],[27]	11,745
Fair Value	[20],[27]	0
Investment, Identifier [Axis]: Jenny C Acquisition, Inc., Senior Secured First Lien Debt, 10/1/2024 Maturity, 2
Principal Amount	[3],[27],[29]	534
Cost	[27],[29]	534
Fair Value	[27],[29]	$ 131
Investment, Identifier [Axis]: K&N Holdco, LLC, Membership Units, Equity
Principal Units (in shares)	[3],[16]	458,364
Cost	[16]	$ 8,356
Fair Value	[16]	6,880
Investment, Identifier [Axis]: K&N Parent, Inc., Senior Secured First Lien Debt, 10/20/2023 Maturity 1
Principal Amount	[10]			13,090
Cost	[10]			12,898
Fair Value	[10]			12,435
Investment, Identifier [Axis]: K&N Parent, Inc., Senior Secured First Lien Debt, 2/14/2027 Maturity, 2
Principal Amount	[3],[8],[29]	4,252
Cost	[8],[29]	4,108
Fair Value	[8],[29]	4,454
Investment, Identifier [Axis]: K&N Parent, Inc., Senior Secured First Lien Debt, 2/15/2023 Maturity 2
Principal Amount	[7]			1,200
Cost	[7]			1,152
Fair Value	[7]			1,220
Investment, Identifier [Axis]: K&N Parent, Inc., Senior Secured First Lien Debt, 8/14/2027 Maturity, 1
Principal Amount	[3],[19],[29]	5,441
Cost	[19],[29]	5,441
Fair Value	[19],[29]	5,427
Investment, Identifier [Axis]: KNB Holdings Corp., Senior Secured First Lien Debt, 4/26/2024 Maturity
Principal Amount		7,634	[3],[8],[27],[37]	7,634	[6],[9],[25],[26]
Cost		7,387	[8],[27],[37]	7,387	[6],[9],[25],[26]
Fair Value		305	[8],[27],[37]	3,321	[6],[9],[25],[26]
Investment, Identifier [Axis]: Klein Hersh, LLC., Senior Secured First Lien Debt, 4/27/2027 Maturity
Principal Amount		20,782	[3],[8],[19],[29]	19,766	[9],[28]
Cost		20,782	[8],[19],[29]	19,766	[9],[28]
Fair Value		20,730	[8],[19],[29]	19,667	[9],[28]
Investment, Identifier [Axis]: LAV Gear Holdings, Inc., Senior Secured First Lien Debt, 10/31/2024 Maturity, 1
Principal Amount		27,722	[3],[4],[5],[8]	27,854	[6],[7],[9]
Cost		27,559	[4],[5],[8]	27,625	[6],[7],[9]
Fair Value		27,662	[4],[5],[8]	27,366	[6],[7],[9]
Investment, Identifier [Axis]: LAV Gear Holdings, Inc., Senior Secured First Lien Debt, 10/31/2024 Maturity, 2
Principal Amount		4,548	[3],[4],[5],[8]	4,569	[6],[7],[9]
Cost		4,531	[4],[5],[8]	4,544	[6],[7],[9]
Fair Value		4,542	[4],[5],[8]	4,489	[6],[7],[9]
Investment, Identifier [Axis]: LGC US Finco, LLC., Senior Secured First Lien Debt, 12/20/2025 Maturity
Principal Amount		11,348	[3],[8],[22]	11,515	[9],[23]
Cost		11,139	[8],[22]	11,263	[9],[23]
Fair Value		$ 11,348	[8],[22]	11,184	[9],[23]
Investment, Identifier [Axis]: Language Education Holdings GP LLC, Common Units, Non-Controlled, Affiliated Investments
Fair Value				$ 0		0
Investment, Identifier [Axis]: Language Education Holdings GP LLC, Common Units., Equity
Principal Units (in shares)		366,667	[3],[16]	366,667	[17],[18]
Cost		$ 0	[16]	$ 0	[17],[18]
Fair Value		$ 0	[16]	0	[17],[18]
Investment, Identifier [Axis]: Language Education Holdings LP, Ordinary Common Units, Non-Controlled, Affiliated Investments
Fair Value				$ 0		0
Investment, Identifier [Axis]: Language Education Holdings LP, Ordinary Common Units., Equity
Principal Units (in shares)		366,667	[3],[16]	366,667	[17],[18]
Cost		$ 825	[16]	$ 825	[17],[18]
Fair Value		1,360	[16]	1,173	[17],[18]
Investment, Identifier [Axis]: LaserAway Intermediate Holdings II, LLC., Senior Secured First Lien Debt, 10/12/2027 Maturity
Principal Amount	[9],[10]			3,375
Cost	[9],[10]			3,319
Fair Value	[9],[10]			3,316
Investment, Identifier [Axis]: Lift Brands, Inc., Senior Secured First Lien Debt, 6/29/2025 Maturity, 1
Principal Amount		23,169	[3],[4],[8],[15],[29]	23,287	[6],[9],[17],[23]
Cost		23,169	[4],[8],[15],[29]	23,287	[6],[9],[17],[23]
Fair Value		23,169	[4],[8],[15],[29]	23,287	[6],[9],[17],[23]
Investment, Identifier [Axis]: Lift Brands, Inc., Senior Secured First Lien Debt, 6/29/2025 Maturity, 2
Principal Amount		5,777	[3],[4],[8],[15],[19]	5,556	[6],[9],[17]
Cost		5,724	[4],[8],[15],[19]	5,490	[6],[9],[17]
Fair Value		5,430	[4],[8],[15],[19]	5,154	[6],[9],[17]
Investment, Identifier [Axis]: Lift Brands, Inc., Senior Secured First Lien Debt, 6/29/2025 Maturity, 3
Principal Amount		6,602	[3],[4],[8],[15],[19]	5,296	[6],[9],[17],[38]
Cost		6,282	[4],[8],[15],[19]	4,947	[6],[9],[17],[38]
Fair Value		6,016	[4],[8],[15],[19]	4,732	[6],[9],[17],[38]
Investment, Identifier [Axis]: Lift Brands, Inc., Term Loan A, Non-Controlled, Affiliated Investments
Fair Value		23,169		23,287		23,406
Investment, Identifier [Axis]: Lift Brands, Inc., Term Loan B, Non-Controlled, Affiliated Investments
Fair Value		5,430		5,154		5,156
Investment, Identifier [Axis]: Lift Brands, Inc., Term Loan C, Non-Controlled, Affiliated Investments
Fair Value		6,016		4,732		4,700
Investment, Identifier [Axis]: Longview Intermediate Holdings C, LLC, Membership Units, Non-Controlled, Affiliated Investments
Fair Value		$ 21,680		$ 23,995		15,127
Investment, Identifier [Axis]: Longview Intermediate Holdings C, LLC, Membership Units., Equity
Principal Units (in shares)		653,989	[3],[15]	653,989	[17],[18]
Cost		$ 2,704	[15]	$ 2,704	[17],[18]
Fair Value		21,680	[15]	23,995	[17],[18]
Investment, Identifier [Axis]: Longview Power, LLC, First Lien Term Loan, Non-Controlled, Affiliated Investments
Fair Value		0		2,348		4,504
Investment, Identifier [Axis]: Longview Power, LLC., Senior Secured First Lien Debt, 7/30/2025 Maturity
Principal Amount	[10],[17]			2,073
Cost	[10],[17]			1,390
Fair Value	[10],[17]			2,348
Investment, Identifier [Axis]: Lucky Bucks Holdings LLC., Unsecured Debt, 5/29/2028 Maturity
Principal Amount		24,307	[3],[19],[27]	22,860	[21]
Cost		22,860	[19],[27]	22,860	[21]
Fair Value		4,375	[19],[27]	15,316	[21]
Investment, Identifier [Axis]: Lucky Bucks Holdings LLC., Unsecured Debt, 7/30/2027 Maturity
Principal Amount	[3],[22],[39]	10,500
Cost	[22],[39]	4,200
Fair Value	[22],[39]	5,513
Investment, Identifier [Axis]: MacNeill Pride Group Corp., Senior Secured First Lien Debt, 4/22/2026 Maturity, 1
Principal Amount		17,714	[3],[5],[8]	17,804	[7],[9]
Cost		17,635	[5],[8]	17,702	[7],[9]
Fair Value		17,626	[5],[8]	17,448	[7],[9]
Investment, Identifier [Axis]: MacNeill Pride Group Corp., Senior Secured First Lien Debt, 4/22/2026 Maturity, 2
Principal Amount		6,539	[3],[5],[8]	7,910	[7],[9]
Cost		6,487	[5],[8]	7,836	[7],[9]
Fair Value		6,506	[5],[8]	7,751	[7],[9]
Investment, Identifier [Axis]: MacNeill Pride Group Corp., Senior Secured First Lien Debt, 4/30/2024 Maturity
Principal Amount	[3]	2,017
Cost		0
Fair Value		(10)
Investment, Identifier [Axis]: MacNeill Pride Group Corp., Senior Secured First Lien Debt, 4/30/2024 Maturity, 3
Principal Amount				2,017
Cost				0
Fair Value				(40)
Investment, Identifier [Axis]: Manus Bio Inc., Senior Secured First Lien Debt, 8/20/2026 Maturity
Principal Amount		13,081	[3]	14,213
Cost		13,014		14,128
Fair Value		13,081		14,212
Investment, Identifier [Axis]: Marble Point Credit Management LLC., Senior Secured First Lien Debt, 8/11/2028 Maturity, 1
Principal Amount	[10]			6,089
Cost	[10]			5,985
Fair Value	[10]			6,089
Investment, Identifier [Axis]: Marble Point Credit Management LLC., Senior Secured First Lien Debt, 8/11/2028 Maturity, 2
Principal Amount	[10]			1,437
Cost	[10]			1,418
Fair Value	[10]			1,437
Investment, Identifier [Axis]: Medplast Holdings, Inc.., Senior Secured First Lien Debt, 7/2/2025 Maturity
Principal Amount	[3],[22]	4,987
Cost	[22]	4,781
Fair Value	[22]	4,849
Investment, Identifier [Axis]: Mimeo.com, Inc., Senior Secured First Lien Debt, 12/21/2024 Maturity, 1
Principal Amount		21,983	[3],[8],[20]	22,328	[10]
Cost		21,983	[8],[20]	22,328	[10]
Fair Value		21,846	[8],[20]	22,161	[10]
Investment, Identifier [Axis]: Mimeo.com, Inc., Senior Secured First Lien Debt, 12/21/2024 Maturity, 2
Principal Amount		2,756	[3],[20]	2,256	[10]
Cost		2,756	[20]	2,256	[10]
Fair Value		2,739	[20]	2,239	[10]
Investment, Identifier [Axis]: Mimeo.com, Inc., Senior Secured First Lien Debt, 12/21/2024 Maturity, 3
Principal Amount		2,500	[3]	3,000
Cost		0		0
Fair Value		(16)		(23)
Investment, Identifier [Axis]: Moss Holding Company, Senior Secured First Lien Debt, 4/17/2024 Maturity, 2
Principal Amount	[3]	106
Cost		0
Fair Value		(1)
Investment, Identifier [Axis]: Moss Holding Company, Senior Secured First Lien Debt, 4/17/2024 Maturity, 3
Principal Amount	[3]	2,126
Cost		0
Fair Value		(27)
Investment, Identifier [Axis]: Moss Holding Company., Senior Secured First Lien Debt, 4/17/2024 Maturity, 1
Principal Amount		19,475	[3],[4],[5],[8]	19,576	[6],[7],[9]
Cost		19,428	[4],[5],[8]	19,500	[6],[7],[9]
Fair Value		19,232	[4],[5],[8]	19,185	[6],[7],[9]
Investment, Identifier [Axis]: Moss Holding Company., Senior Secured First Lien Debt, 4/17/2024 Maturity, 2
Principal Amount				106
Cost				0
Fair Value				(2)
Investment, Identifier [Axis]: Moss Holding Company., Senior Secured First Lien Debt, 4/17/2024 Maturity, 3
Principal Amount				2,126
Cost				0
Fair Value				(43)
Investment, Identifier [Axis]: Mount Logan Capital Inc., Common Stock, Non-Controlled, Affiliated Investments
Fair Value		$ 2,266		$ 2,341		3,404
Investment, Identifier [Axis]: Mount Logan Capital Inc., Common Stock., Equity
Principal Units (in shares)		1,075,557	[3],[12],[15],[40]	1,075,557	[14],[17],[41]
Cost		$ 3,534	[12],[15],[40]	$ 3,534	[14],[17],[41]
Fair Value		$ 2,266	[12],[15],[40]	$ 2,341	[14],[17],[41]
Investment, Identifier [Axis]: NS NWN Acquisition, LLC, Class A Preferred Units., Equity
Principal Units (in shares)		111	[3],[16]	111	[18]
Cost		$ 110	[16]	$ 110	[18]
Fair Value		$ 1,338	[16]	$ 909	[18]
Investment, Identifier [Axis]: NS NWN Acquisition, LLC, Common Equity, Equity
Principal Units (in shares)		346	[3],[16]	346	[18]
Cost		$ 393	[16]	$ 393	[18]
Fair Value		$ 0	[16]	$ 0	[18]
Investment, Identifier [Axis]: NS NWN Holdco LLC, Non-Voting Units, Equity
Principal Units (in shares)	[3],[16]	522
Cost	[16]	$ 504
Fair Value	[16]	$ 295
Investment, Identifier [Axis]: NS NWN Holdco LLC, Non-Voting Units., Equity
Principal Units (in shares)	[18]			522
Cost	[18]			$ 504
Fair Value	[18]			$ 200
Investment, Identifier [Axis]: NSG Co-Invest (Bermuda) LP, Partnership Interests., Equity
Principal Units (in shares)		1,575	[3],[12],[16]	1,575	[14],[18]
Cost		$ 1,000	[12],[16]	$ 1,000	[14],[18]
Fair Value		887	[12],[16]	664	[14],[18]
Investment, Identifier [Axis]: NWN Parent Holdings LLC., Senior Secured First Lien Debt, 5/7/2026 Maturity, 1
Principal Amount		12,604	[3],[5],[8]	12,755	[9],[10]
Cost		12,536	[5],[8]	12,664	[9],[10]
Fair Value		12,494	[5],[8]	12,643	[9],[10]
Investment, Identifier [Axis]: NWN Parent Holdings LLC., Senior Secured First Lien Debt, 5/7/2026 Maturity, 2
Principal Amount		600	[3],[5]	810	[10]
Cost		587	[5]	798	[10]
Fair Value		595	[5]	803	[10]
Investment, Identifier [Axis]: NWN Parent Holdings LLC., Senior Secured First Lien Debt, 5/7/2026 Maturity, 3
Principal Amount		1,200	[3]	90
Cost		0		0
Fair Value		$ (11)		(1)
Investment, Identifier [Axis]: Neptune Flood Inc., Senior Secured First Lien Debt, 10/21/2026 Maturity
Principal Amount	[9],[10]			7,789
Cost	[9],[10]			7,742
Fair Value	[9],[10]			$ 7,867
Investment, Identifier [Axis]: New Giving Acquisition, Inc., Warrants, Equity
Principal Units (in shares)		4,630	[3],[16]	4,630	[18]
Cost		$ 633	[16]	$ 633	[18]
Fair Value		1,394	[16]	786	[18]
Investment, Identifier [Axis]: NewsCycle Solutions, Inc., Senior Secured First Lien Debt, 12/29/2023 Maturity
Principal Amount		12,381	[3],[4],[5],[8]	12,444	[6],[9],[10]
Cost		12,377	[4],[5],[8]	12,432	[6],[9],[10]
Fair Value		12,396	[4],[5],[8]	12,444	[6],[9],[10]
Investment, Identifier [Axis]: OpCo Borrower, LLC., Senior Secured First Lien Debt, 8/19/2027 Maturity, 1
Principal Amount		11,243	[3],[8],[29]	11,387	[9],[28]
Cost		11,141	[8],[29]	11,268	[9],[28]
Fair Value		11,328	[8],[29]	11,387	[9],[28]
Investment, Identifier [Axis]: OpCo Borrower, LLC., Senior Secured First Lien Debt, 8/19/2027 Maturity, 2
Principal Amount	[28]			208
Cost	[28]			208
Fair Value	[28]			208
Investment, Identifier [Axis]: OpCo Borrower, LLC., Senior Secured First Lien Debt, 8/19/2027 Maturity, 3
Principal Amount		1,042	[3]	833
Cost		0		0
Fair Value		8		0
Investment, Identifier [Axis]: OpCo Borrower, LLC., Senior Secured Second Lien Debt, 2/19/2028 Maturity
Principal Amount		12,500	[3],[8]	12,500	[9]
Cost		11,730	[8]	11,659	[9]
Fair Value		11,500	[8]	11,312	[9]
Investment, Identifier [Axis]: Optio Rx, LLC., Senior Secured First Lien Debt, 6/28/2024 Maturity, 1
Principal Amount	[6],[9],[23]			15,929
Cost	[6],[9],[23]			15,892
Fair Value	[6],[9],[23]			15,749
Investment, Identifier [Axis]: Optio Rx, LLC., Senior Secured First Lien Debt, 6/28/2024 Maturity, 2
Principal Amount	[6],[23]			2,515
Cost	[6],[23]			2,504
Fair Value	[6],[23]			2,615
Investment, Identifier [Axis]: Optio Rx, LLC., Senior Secured First Lien Debt, 6/28/2028 Maturity, 1
Principal Amount	[3],[4],[8],[22]	15,585
Cost	[4],[8],[22]	15,561
Fair Value	[4],[8],[22]	15,526
Investment, Identifier [Axis]: Optio Rx, LLC., Senior Secured First Lien Debt, 6/28/2028 Maturity, 2
Principal Amount	[3],[4],[22]	2,515
Cost	[4],[22]	2,508
Fair Value	[4],[22]	2,578
Investment, Identifier [Axis]: PH Beauty Holdings III. Inc., Senior Secured First Lien Debt, 9/28/2025 Maturity
Principal Amount		9,525	[3],[8],[20]	9,575	[9],[10]
Cost		9,212	[8],[20]	9,195	[9],[10]
Fair Value		8,727	[8],[20]	$ 8,677	[9],[10]
Investment, Identifier [Axis]: PRA Acquisition, LLC, 5/12/2028 Maturity
Principal Amount	[3],[4],[5]	20,000
Cost	[4],[5]	20,000
Fair Value	[4],[5]	$ 20,000
Investment, Identifier [Axis]: Palmetto Clean Technology, Inc., Warrants., Equity
Principal Units (in shares)		724,112	[3],[16]	724,112	[18]
Cost		$ 471	[16]	$ 471	[18]
Fair Value		3,287	[16]	3,867	[18]
Investment, Identifier [Axis]: Pentec Acquisition Corp., Senior Secured First Lien Debt, 10/8/2026 Maturity
Principal Amount		24,625	[3],[8],[29]	24,750	[9],[23]
Cost		24,461	[8],[29]	24,551	[9],[23]
Fair Value		24,687	[8],[29]	24,750	[9],[23]
Investment, Identifier [Axis]: Playboy Enterprises, Inc., Senior Secured First Lien Debt, 5/25/2027 Maturity
Principal Amount		19,527	[3],[4],[5],[12]	25,202	[6],[10],[14]
Cost		19,179	[4],[5],[12]	24,729	[6],[10],[14]
Fair Value		19,234	[4],[5],[12]	24,257	[6],[10],[14]
Investment, Identifier [Axis]: Project Castle, Inc., Senior Secured First Lien Debt, 6/1/2029 Maturity
Principal Amount		7,930	[3],[5],[8]	9,975	[7],[9]
Cost		7,181	[5],[8]	8,979	[7],[9]
Fair Value		6,741	[5],[8]	8,117	[7],[9]
Investment, Identifier [Axis]: R. R. Donnelley & Sons Company , 3/22/2028 Maturity
Principal Amount	[3]	12,582
Cost		12,550
Fair Value		12,535
Investment, Identifier [Axis]: RA Outdoors, LLC, Senior Secured Second Lien Debt, 10/8/2026 Maturity
Principal Amount	[3],[5],[8]	1,818
Cost	[5],[8]	1,818
Fair Value	[5],[8]	1,818
Investment, Identifier [Axis]: RA Outdoors, LLC., Senior Secured First Lien Debt, 4/8/2026 Maturity, 1
Principal Amount		10,979	[3],[5],[8]	10,979	[7],[9]
Cost		10,979	[5],[8]	10,979	[7],[9]
Fair Value		10,979	[5],[8]	10,938	[7],[9]
Investment, Identifier [Axis]: RA Outdoors, LLC., Senior Secured First Lien Debt, 4/8/2026 Maturity, 2
Principal Amount				1,049
Cost				(170)
Fair Value				(1)
Investment, Identifier [Axis]: RA Outdoors, LLC., Senior Secured First Lien Debt, 4/8/2026 Maturity, 3
Principal Amount	[3]	1,049
Cost		(94)
Fair Value		0
Investment, Identifier [Axis]: RA Outdoors, LLC., Senior Secured Second Lien Debt, 10/8/2026 Maturity
Principal Amount	[7],[9]			1,827
Cost	[7],[9]			1,827
Fair Value	[7],[9]			1,825
Investment, Identifier [Axis]: Retail Services WIS Corp., Senior Secured First Lien Debt, 5/20/2025 Maturity
Principal Amount		9,297	[3],[5],[8]	9,548	[9],[10]
Cost		9,154	[5],[8]	9,374	[9],[10]
Fair Value		9,297	[5],[8]	9,357	[9],[10]
Investment, Identifier [Axis]: Robert C. Hilliard, L.L.P., Senior Secured First Lien Debt, 12/17/2023 Maturity
Principal Amount		1,973	[3],[8],[19],[29]	1,815	[9],[21],[23]
Cost		1,973	[8],[19],[29]	1,815	[9],[21],[23]
Fair Value		1,976	[8],[19],[29]	1,815	[9],[21],[23]
Investment, Identifier [Axis]: Rogers Mechanical Contractors, LLC., Senior Secured First Lien Debt, 9/9/2025 Maturity, 1
Principal Amount		15,275	[3],[8],[19],[24]	16,365	[7],[9],[21]
Cost		15,275	[8],[19],[24]	16,365	[7],[9],[21]
Fair Value		15,217	[8],[19],[24]	16,324	[7],[9],[21]
Investment, Identifier [Axis]: Rogers Mechanical Contractors, LLC., Senior Secured First Lien Debt, 9/9/2025 Maturity, 2
Principal Amount		899	[3],[8],[19],[24]	962	[7],[21]
Cost		899	[8],[19],[24]	962	[7],[21]
Fair Value		896	[8],[19],[24]	959	[7],[21]
Investment, Identifier [Axis]: Rogers Mechanical Contractors, LLC., Senior Secured First Lien Debt, 9/9/2025 Maturity, 3
Principal Amount		2,404	[3]	962
Cost		0		0
Fair Value		(9)		(2)
Investment, Identifier [Axis]: Rogers Mechanical Contractors, LLC., Senior Secured First Lien Debt, 9/9/2025 Maturity, 4
Principal Amount				2,404
Cost				0
Fair Value				(6)
Investment, Identifier [Axis]: RumbleOn, Inc., Senior Secured First Lien Debt, 2/28/2023 Maturity, 3
Principal Amount	[18]			1,775
Cost	[18]			0
Fair Value	[18]			(98)
Investment, Identifier [Axis]: RumbleOn, Inc., Senior Secured First Lien Debt, 8/31/2026 Maturity, 1
Principal Amount		13,221	[3],[5],[8]	13,284	[9],[10]
Cost		12,523	[5],[8]	12,497	[9],[10]
Fair Value		12,461	[5],[8]	12,554	[9],[10]
Investment, Identifier [Axis]: RumbleOn, Inc., Senior Secured First Lien Debt, 8/31/2026 Maturity, 2
Principal Amount		4,000	[3],[5],[8]	4,019	[10]
Cost		3,974	[5],[8]	3,976	[10]
Fair Value		$ 3,770	[5],[8]	$ 3,798	[10]
Investment, Identifier [Axis]: RumbleOn, Inc., Warrants., Equity
Principal Units (in shares)		60,606	[3],[16]	60,606	[18]
Cost		$ 927	[16]	$ 927	[18]
Fair Value		$ 0	[16]	1	[18]
Investment, Identifier [Axis]: SIMR Parent, LLC, Class B Membership Units, Non-Controlled, Affiliated Investments
Fair Value				0		0
Investment, Identifier [Axis]: SIMR Parent, LLC, Class W Membership Units, Non-Controlled, Affiliated Investments
Fair Value				0		0
Investment, Identifier [Axis]: SIMR, LLC, First Lien Term Loan, Non-Controlled, Affiliated Investments
Fair Value				0		16,000
Investment, Identifier [Axis]: SRA Holdings, LLC, Membership Units, Equity
Principal Units (in shares)	[3],[15],[16]	224,865
Cost	[15],[16]	$ 23,611
Fair Value	[15],[16]	23,706
Investment, Identifier [Axis]: SRA Holdings, LLC, Membership Units, Non-Controlled, Affiliated Investments
Fair Value		23,706		0
Investment, Identifier [Axis]: STATinMED, LLC, Delayed Draw First Lien Term Loan, Non-Controlled, Affiliated Investments
Fair Value				156		0
Investment, Identifier [Axis]: STATinMED, LLC, First Lien Term Loan, Non-Controlled, Affiliated Investments
Fair Value		9,657		9,107		0
Investment, Identifier [Axis]: STATinMED, LLC., Senior Secured First Lien Debt, 3/31/2023 Maturity 2
Principal Amount	[17],[21],[28]			156
Cost	[17],[21],[28]			153
Fair Value	[17],[21],[28]			156
Investment, Identifier [Axis]: STATinMED, LLC., Senior Secured First Lien Debt, 3/31/2023 Maturity 3
Principal Amount	[17],[18]			156
Cost	[17],[18]			0
Fair Value	[17],[18]			0
Investment, Identifier [Axis]: STATinMED, LLC., Senior Secured First Lien Debt, 7/1/2027 Maturity 1
Principal Amount	[17],[21],[28]			9,222
Cost	[17],[21],[28]			9,222
Fair Value	[17],[21],[28]			$ 9,107
Investment, Identifier [Axis]: STATinMED, LLC., Senior Secured First Lien Debt, 7/1/2027 Maturity, 1
Principal Amount	[3],[15],[19],[29]	9,905
Cost	[15],[19],[29]	9,905
Fair Value	[15],[19],[29]	$ 9,657
Investment, Identifier [Axis]: STATinMed Parent, LLC, Class A Preferred Units, Equity
Principal Units (in shares)	[3],[15],[16]	6,182
Cost	[15],[16]	$ 6,182
Fair Value	[15],[16]	2,526
Investment, Identifier [Axis]: STATinMed Parent, LLC, Class A Preferred Units, Equity
Principal Units (in shares)	[17],[18]			6,182
Cost	[17],[18]			$ 6,182
Fair Value	[17],[18]			4,530
Investment, Identifier [Axis]: STATinMed Parent, LLC, Class A Preferred Units, Non-Controlled, Affiliated Investments
Fair Value		$ 2,526		$ 4,530		0
Investment, Identifier [Axis]: STATinMed Parent, LLC, Class B Preferred Units, Equity
Principal Units (in shares)	[3],[15],[16]	51,221
Cost	[15],[16]	$ 3,193
Fair Value	[15],[16]	0
Investment, Identifier [Axis]: STATinMed Parent, LLC, Class B Preferred Units, Equity
Principal Units (in shares)	[17],[18]			51,221
Cost	[17],[18]			$ 3,193
Fair Value	[17],[18]			134
Investment, Identifier [Axis]: STATinMed Parent, LLC, Class B Preferred Units, Non-Controlled, Affiliated Investments
Fair Value		0		134		0
Investment, Identifier [Axis]: Securus Technologies Holdings, Inc., Senior Secured First Lien Debt, 11/1/2024 Maturity
Principal Amount		3,847	[3],[8],[20]	3,868	[9],[10]
Cost		3,484	[8],[20]	3,383	[9],[10]
Fair Value		3,852	[8],[20]	3,848	[9],[10]
Investment, Identifier [Axis]: Securus Technologies Holdings, Inc., Senior Secured Second Lien Debt, 11/1/2025 Maturity
Principal Amount		2,942	[3],[20]	2,942	[10]
Cost		2,930	[20]	2,926	[10]
Fair Value		2,895	[20]	2,884	[10]
Investment, Identifier [Axis]: Sequoia Healthcare Management, LLC., Senior Secured First Lien Debt, 11/4/2023 Maturity
Principal Amount		8,525	[3],[4],[8]	8,525	[6],[9],[26]
Cost		8,456	[4],[8]	8,457	[6],[9],[26]
Fair Value		8,024	[4],[8]	10,209	[6],[9],[26]
Investment, Identifier [Axis]: Service Compression, LLC, Warrants(o), Energy: Oil & Gas, N/A
Cost	[18]			509
Fair Value	[18]			441
Investment, Identifier [Axis]: Service Compression, LLC, Warrants., Equity
Cost	[16]	509
Fair Value	[16]	970
Investment, Identifier [Axis]: Service Compression, LLC., Senior Secured First Lien Debt, 5/5/2025 Maturity
Principal Amount	[3]	907
Cost		0
Fair Value		7
Investment, Identifier [Axis]: Service Compression, LLC., Senior Secured First Lien Debt, 5/6/2025 Maturity, 3
Principal Amount				4,186
Cost				0
Fair Value				(31)
Investment, Identifier [Axis]: Service Compression, LLC., Senior Secured First Lien Debt, 5/6/2027 Maturity, 1
Principal Amount		23,208	[3],[5],[8],[19]	22,975	[7],[9],[21]
Cost		22,894	[5],[8],[19]	22,622	[7],[9],[21]
Fair Value		23,382	[5],[8],[19]	22,803	[7],[9],[21]
Investment, Identifier [Axis]: Service Compression, LLC., Senior Secured First Lien Debt, 5/6/2027 Maturity, 2
Principal Amount		6,477	[3],[5],[8],[19]	3,151	[7]
Cost		6,381	[5],[8],[19]	3,044	[7]
Fair Value		6,526	[5],[8],[19]	3,127	[7]
Investment, Identifier [Axis]: Sleep Opco, LLC., Senior Secured First Lien Debt, 10/12/2026 Maturity, 1
Principal Amount		13,704	[3],[5],[8]	13,779	[9],[10]
Cost		13,518	[5],[8]	13,568	[9],[10]
Fair Value		13,602	[5],[8]	13,641	[9],[10]
Investment, Identifier [Axis]: Sleep Opco, LLC., Senior Secured First Lien Debt, 10/12/2026 Maturity, 2
Principal Amount		550	[3],[5]	1,750
Cost		527	[5]	(27)
Fair Value		546	[5]	$ (18)
Investment, Identifier [Axis]: Sleep Opco, LLC., Senior Secured First Lien Debt, 10/12/2026 Maturity, 3
Principal Amount	[3],[5],[8]	399
Cost	[5],[8]	394
Fair Value	[5],[8]	402
Investment, Identifier [Axis]: Sleep Opco, LLC., Senior Secured First Lien Debt, 10/12/2026 Maturity, 4
Principal Amount	[3]	1,200
Cost		0
Fair Value		$ (9)
Investment, Identifier [Axis]: Snap Fitness Holdings, Inc., Class A Common Stock., Equity
Principal Units (in shares)		9,858	[3],[15],[16]	9,858	[17],[18]
Cost		$ 3,078	[15],[16]	$ 3,078	[17],[18]
Fair Value		4,936	[15],[16]	5,123	[17],[18]
Investment, Identifier [Axis]: Snap Fitness Holdings, Inc., Class A Stock, Non-Controlled, Affiliated Investments
Fair Value		4,936		5,123		3,131
Investment, Identifier [Axis]: Snap Fitness Holdings, Inc., Warrants, Non-Controlled, Affiliated Investments
Fair Value		$ 2,001		$ 2,077		$ 1,269
Investment, Identifier [Axis]: Snap Fitness Holdings, Inc., Warrants., Equity
Principal Units (in shares)		3,996	[3],[15],[16]	3,996	[17],[18]
Cost		$ 1,247	[15],[16]	$ 1,247	[17],[18]
Fair Value		2,001	[15],[16]	2,077	[17],[18]
Investment, Identifier [Axis]: Spinal USA, Inc. / Precision Medical Inc., Senior Secured First Lien Debt, 11/29/2023 Maturity, 1
Principal Amount	[3],[19],[20]	14,349
Cost	[19],[20]	14,332
Fair Value	[19],[20]	7,748
Investment, Identifier [Axis]: Spinal USA, Inc. / Precision Medical Inc., Senior Secured First Lien Debt, 11/29/2023 Maturity, 2
Principal Amount	[3],[19],[20]	1,275
Cost	[19],[20]	1,275
Fair Value	[19],[20]	650
Investment, Identifier [Axis]: Spinal USA, Inc. / Precision Medical Inc., Senior Secured First Lien Debt, 11/29/2023 Maturity, 3
Principal Amount	[3],[19],[20]	820
Cost	[19],[20]	762
Fair Value	[19],[20]	418
Investment, Identifier [Axis]: Spinal USA, Inc. / Precision Medical Inc., Senior Secured First Lien Debt, 11/29/2023 Maturity, 4
Principal Amount	[3],[19],[20]	778
Cost	[19],[20]	778
Fair Value	[19],[20]	397
Investment, Identifier [Axis]: Spinal USA, Inc. / Precision Medical Inc., Senior Secured First Lien Debt, 11/29/2023 Maturity, 5
Principal Amount	[3],[19],[20]	649
Cost	[19],[20]	604
Fair Value	[19],[20]	351
Investment, Identifier [Axis]: Spinal USA, Inc. / Precision Medical Inc., Senior Secured First Lien Debt, 11/29/2023 Maturity, 6
Principal Amount	[3],[19],[20]	593
Cost	[19],[20]	593
Fair Value	[19],[20]	599
Investment, Identifier [Axis]: Spinal USA, Inc. / Precision Medical Inc., Senior Secured First Lien Debt, 5/29/2023 Maturity, 1
Principal Amount	[9],[10],[21]			13,401
Cost	[9],[10],[21]			13,385
Fair Value	[9],[10],[21]			9,649
Investment, Identifier [Axis]: Spinal USA, Inc. / Precision Medical Inc., Senior Secured First Lien Debt, 5/29/2023 Maturity, 2
Principal Amount	[9],[10],[21]			1,191
Cost	[9],[10],[21]			1,191
Fair Value	[9],[10],[21]			816
Investment, Identifier [Axis]: Spinal USA, Inc. / Precision Medical Inc., Senior Secured First Lien Debt, 5/29/2023 Maturity, 3
Principal Amount	[9],[10],[21]			766
Cost	[9],[10],[21]			677
Fair Value	[9],[10],[21]			521
Investment, Identifier [Axis]: Spinal USA, Inc. / Precision Medical Inc., Senior Secured First Lien Debt, 5/29/2023 Maturity, 4
Principal Amount	[9],[10],[21]			727
Cost	[9],[10],[21]			727
Fair Value	[9],[10],[21]			498
Investment, Identifier [Axis]: Spinal USA, Inc. / Precision Medical Inc., Senior Secured First Lien Debt, 5/29/2023 Maturity, 5
Principal Amount	[9],[10],[21]			607
Cost	[9],[10],[21]			536
Fair Value	[9],[10],[21]			446
Investment, Identifier [Axis]: TMK Hawk Parent, Corp., Senior Secured Second Lien Debt, 8/28/2025 Maturity
Principal Amount	[10]			13,393
Cost	[10]			13,246
Fair Value	[10]			11,334
Investment, Identifier [Axis]: TMK Hawk Parent, Corp., Senior Secured Second Lien Debt, 9/26/2025 Maturity
Principal Amount	[3],[20]	13,393
Cost	[20]	13,282
Fair Value	[20]	11,903
Investment, Identifier [Axis]: Thrill Holdings LLC., Senior Secured First Lien Debt, 5/27/2024 Maturity, 3
Principal Amount	[3]	3,261
Cost		0
Fair Value		0
Investment, Identifier [Axis]: Thrill Holdings LLC., Senior Secured First Lien Debt, 5/27/2027 Maturity, 1
Principal Amount		20,136	[3],[5],[8]	20,394	[7],[9]
Cost		20,136	[5],[8]	20,394	[7],[9]
Fair Value		19,907	[5],[8]	20,292	[7],[9]
Investment, Identifier [Axis]: Thrill Holdings LLC., Senior Secured First Lien Debt, 5/27/2027 Maturity, 2
Principal Amount		1,739	[3]	3,261
Cost		0		0
Fair Value		0		(16)
Investment, Identifier [Axis]: Thrill Holdings LLC., Senior Secured First Lien Debt, 5/27/2027 Maturity, 3
Principal Amount	[7]			1,739
Cost	[7]			1,739
Fair Value	[7]			1,730
Investment, Identifier [Axis]: Trademark Global, LLC., Senior Secured First Lien Debt, 7/30/2024 Maturity
Principal Amount	[3],[8],[19],[29]	15,508
Cost	[8],[19],[29]	15,484
Fair Value	[8],[19],[29]	15,042
Investment, Identifier [Axis]: Trademark Global, LLC., Senior Secured First Lien Debt, 7/30/2024 Maturity, 1
Principal Amount	[21],[23]			15,355
Cost	[21],[23]			15,310
Fair Value	[21],[23]			14,952
Investment, Identifier [Axis]: Trammell, P.C., Senior Secured First Lien Debt, 4/28/2026 Maturity
Principal Amount		13,814	[3],[19],[29]	14,201	[21],[28]
Cost		13,814	[19],[29]	14,201	[21],[28]
Fair Value		$ 13,814	[19],[29]	14,147	[21],[28]
Investment, Identifier [Axis]: URS Topco, LLC, Equity
Principal Units (in shares)	[3],[16]	430,540
Cost	[16]	$ 9,669
Fair Value	[16]	12,298
Investment, Identifier [Axis]: Usalco, LLC., Senior Secured First Lien Debt, 10/19/2027 Maturity
Principal Amount		24,625	[3],[8],[29]	24,750	[9],[10]
Cost		24,441	[8],[29]	24,539	[9],[10]
Fair Value		24,533	[8],[29]	24,441	[9],[10]
Investment, Identifier [Axis]: Vesta Holdings, LLC., Senior Secured First Lien Debt, 2/25/2024 Maturity 1
Principal Amount	[9],[21]			21,071
Cost	[9],[21]			21,071
Fair Value	[9],[21]			19,938
Investment, Identifier [Axis]: Vesta Holdings, LLC., Senior Secured First Lien Debt, 2/25/2024 Maturity 3
Principal Amount	[21]			838
Cost	[21]			838
Fair Value	[21]			793
Investment, Identifier [Axis]: Vesta Holdings, LLC., Senior Secured First Lien Debt, 3/12/2023 Maturity 2
Principal Amount	[7],[9]			10,392
Cost	[7],[9]			10,159
Fair Value	[7],[9]			10,392
Investment, Identifier [Axis]: Volta Charging, LLC., Senior Secured First Lien Debt, 6/19/2024 Maturity, 1
Principal Amount	[9]			5,621
Cost	[9]			5,617
Fair Value	[9]			6,506
Investment, Identifier [Axis]: Volta Charging, LLC., Senior Secured First Lien Debt, 6/19/2024 Maturity, 2
Principal Amount	[9]			1,500
Cost	[9]			1,499
Fair Value	[9]			1,736
Investment, Identifier [Axis]: WPLM Acquisition Corp., Unsecured Debt, 11/24/2025 Maturity
Principal Amount		7,623	[3],[19]	7,623	[21]
Cost		7,575	[19]	7,567	[21]
Fair Value		7,413	[19]	7,327	[21]
Investment, Identifier [Axis]: Williams Industrial Services Group, Inc., Senior Secured First Lien Debt, 12/16/2025 Maturity
Principal Amount	[6],[10],[21]			7,173
Cost	[6],[10],[21]			7,173
Fair Value	[6],[10],[21]			7,182
Investment, Identifier [Axis]: Williams Industrial Services Group, Inc., Senior Secured First Lien Debt, 12/16/2025 Maturity, 1
Principal Amount	[3],[4],[5],[19]	7,693
Cost	[4],[5],[19]	7,693
Fair Value	[4],[5],[19]	7,540
Investment, Identifier [Axis]: Williams Industrial Services Group, Inc., Senior Secured First Lien Debt, 12/16/2025 Maturity, 2
Principal Amount	[3],[5],[19]	1,429
Cost	[5],[19]	1,429
Fair Value	[5],[19]	1,400
Investment, Identifier [Axis]: Wok Holdings Inc., Senior Secured First Lien Debt, 3/1/2026 Maturity
Principal Amount		24,974	[3],[8],[22]	25,105	[9],[10]
Cost		24,317	[8],[22]	24,335	[9],[10]
Fair Value		23,938	[8],[22]	21,684	[9],[10]
Investment, Identifier [Axis]: WorkGenius, Inc., Senior Secured First Lien Debt, 6/7/2027 Maturity 1
Principal Amount	[7],[9]			12,938
Cost	[7],[9]			12,937
Fair Value	[7],[9]			12,938
Investment, Identifier [Axis]: WorkGenius, Inc., Senior Secured First Lien Debt, 6/7/2027 Maturity 2
Principal Amount				750
Cost				(15)
Fair Value				$ 0
Investment, Identifier [Axis]: WorkGenius, Inc., Senior Secured First Lien Debt, 6/7/2027 Maturity, 1
Principal Amount	[3],[5],[8]	10,385
Cost	[5],[8]	10,385
Fair Value	[5],[8]	10,385
Investment, Identifier [Axis]: WorkGenius, Inc., Senior Secured First Lien Debt, 6/7/2027 Maturity, 2
Principal Amount	[3],[5]	750
Cost	[5]	737
Fair Value	[5]	$ 750
Investment, Identifier [Axis]: WorkGenius, LLC, Class A Units., Equity
Principal Units (in shares)		500	[3],[16]	500	[18]
Cost		$ 500	[16]	$ 500	[18]
Fair Value		415	[16]	515	[18]
Investment, Identifier [Axis]: Xenon Arc, Inc., Senior Secured First Lien Debt, 12/17/2027 Maturity
Principal Amount		3,895	[3],[8],[20]	6,915	[9],[10]
Cost		3,861	[8],[20]	6,846	[9],[10]
Fair Value		3,895	[8],[20]	6,846	[9],[10]
Investment, Identifier [Axis]: Yak Access, LLC, Senior Secured First Lien Debt, 07/11/2025 Maturity
Principal Amount	[9]			4,925
Cost	[9]			3,299
Fair Value	[9]			$ 3,165
Investment, Identifier [Axis]: Yak Access, LLC., Senior Secured First Lien Debt, 3/10/2028 Maturity
Principal Amount	[3],[5],[8]	2,972
Cost	[5],[8]	2,972
Fair Value	[5],[8]	$ 2,972
Investment, Identifier [Axis]: Yak Holding II, LLC, Series A Common Units, Equity
Principal Units (in shares)	[3],[16]	127,419
Cost	[16]	$ 0
Fair Value	[16]	$ 573
Investment, Identifier [Axis]: Yak Holding II, LLC, Series A Preferred Units, Equity
Principal Units (in shares)	[3],[16]	4,000,000
Cost	[16]	$ 2,000
Fair Value	[16]	$ 4,000
Investment, Identifier [Axis]: Yak Holding II, LLC, Series B-1 Preferred Units, Equity
Principal Units (in shares)	[3],[16]	1,966,018
Cost	[16]	$ 1,966
Fair Value	[16]	$ 1,966

[1] Represents amortized cost for debt securities and cost for equity investments.

[2] Fair value determined in good faith by the Company’s board of directors (see Note 9), including via delegation to CIM as the Company’s valuation designee (see Note 2), using significant unobservable inputs unless otherwise noted.

[3] Denominated in U.S. dollars unless otherwise noted.

[4] Investment or a portion thereof held within the Company’s wholly-owned consolidated subsidiary, Murray Hill Funding II, LLC, or Murray Hill Funding II, and was pledged as collateral supporting the amounts outstanding under the repurchase agreement with UBS AG, or UBS, as of June 30, 2023 (see Note 8).

[5] The interest rate on these loans is subject to 3 month SOFR, which as of June 30, 2023 was 5.27%.

[6] Investment or a portion thereof held within the Company’s wholly-owned consolidated subsidiary, Murray Hill Funding II, and was pledged as collateral supporting the amounts outstanding under the repurchase agreement with UBS as of December 31, 2022 (see Note 8).

[7] The interest rate on these loans is subject to 3 month SOFR, which as of December 31, 2022 was 4.59%.

[8] Investment or a portion thereof held within the Company’s wholly-owned consolidated subsidiary, 34th Street Funding, LLC, or 34th Street, and was pledged as collateral supporting the amounts outstanding under the credit facility with JPMorgan Chase Bank, National Association, or JPM, as of June 30, 2023 (see Note 8).

[9] Investment or a portion thereof held within the Company’s wholly-owned consolidated subsidiary, 34th Street, and was pledged as collateral supporting the amounts outstanding under the credit facility with JPM as of December 31, 2022 (see Note 8).

[10] The interest rate on these loans is subject to 3 month LIBOR, which as of December 31, 2022 was 4.77%.

[11] The CLO subordinated notes are considered equity positions in the CLO vehicles and are not rated. Equity investments are entitled to recurring distributions, which are generally equal to the remaining cash flow of the payments made by the underlying vehicle's securities less contractual payments to debt holders and expenses. The estimated yield indicated is based upon a current projection of the amount and timing of these recurring distributions and the estimated amount of repayment of principal upon termination. Such projections are periodically reviewed and adjusted, and the estimated yield may not ultimately be realized.

[12] The investment or a portion thereof is not a qualifying asset under the 1940 Act. A business development company may not acquire any asset other than qualifying assets, unless, at the time the acquisition is made, qualifying assets represent at least 70% of the company’s total assets as defined under Section 55 of the 1940 Act. As of June 30, 2023, 94.3% of the Company’s total assets represented qualifying assets.

[13] The CLO subordinated notes are considered equity positions in the CLO vehicles and are not rated. Equity investments are entitled to recurring distributions, which are generally equal to the remaining cash flow of the payments made by the underlying vehicle's securities less contractual payments to debt holders and expenses. The estimated yield indicated is based upon a current projection of the amount and timing of these recurring distributions and the estimated amount of repayment of principal upon termination. Such projections are periodically reviewed and adjusted, and the estimated yield may not ultimately be realize

[14] The investment or a portion thereof is not a qualifying asset under the 1940 Act. A business development company may not acquire any asset other than qualifying assets, unless, at the time the acquisition is made, qualifying assets represent at least 70% of the company’s total assets as defined under Section 55 of the 1940 Act. As of December 31, 2022, 93.4% of the Company’s total assets represented qualifying assets.

[15] Investment determined to be an affiliated investment as defined in the 1940 Act as the Company owns between 5% and 25% of the portfolio company’s outstanding voting securities but does not control the portfolio company. Fair value as of December 31, 2022 and June 30, 2023, along with transactions during the six months ended June 30, 2023 in these affiliated investments, were as follows: Six Months Ended June 30, 2023 Six Months Ended June 30, 2023 Non-Controlled, Affiliated InvestmentsFair Value at
December 31, 2022Gross
Additions
(Cost)(1)Gross
Reductions
(Cost)(2)Net Unrealized Gain (Loss) Fair Value at June 30, 2023 Net Realized Gain (Loss)Interest
Income(3)Dividend IncomeFee Income    Afore Insurance Services, LLC        First Lien Term Loan$— $4,583 $— $(11)$4,572 $— $138 $— $—     ARC Financial, LLC        Membership Interests— — — — — — — 25 —     Carestream Health, Inc.        First Lien Term Loan7,539 2,895 (115)1,104 11,423 — 534 — —     Carestream Health Holdings Inc.        Common Shares21,544 — — (828)20,716 — — — —     DESG Holdings, Inc.        First Lien Term Loan246 — (82)(34)130 — — — —     GSC Technologies Inc.        Incremental Term Loan154 6 (160)— — — 11 — —         First Lien Term Loan A2,064 14 — 49 2,127 — 136 — —         First Lien Term Loan B388 48 — 258 694 — 53 — —         Common Shares— — — — — — — — —     Instant Web Holdings, LLC        Class A Common Units— — — — — — — — —     Instant Web, LLC        Revolving Loan321 2,093 — (75)2,339 — 78 — —         Priming Term Loan469 10 — — 479 — 27 — —         First Lien Term Loan28,167 2,447 — (5,265)25,349 — 2,436 — —         First Lien Delayed Draw Term Loan— — — (89)(89)— 8 — —     IPP Buyer Holdings, LLC        Class A Units— 10,740 — 993 11,733 — — — —     Isagenix International, LLC        First Lien Term Loan— 8,237 — — 8,237 — 189 — 477     Isagenix Worldwide, Inc.        Common Shares— 8,987 — — 8,987 — — — —     Lift Brands, Inc.        Term Loan A23,287 — (118)— 23,169 — 1,440 — 29         Term Loan B5,154 234 — 42 5,430 — 280 — —         Term Loan C4,732 1,335 — (51)6,016 — 348 — 1,891     Longview Intermediate Holdings C, LLC        Membership Units23,995 — — (2,315)21,680 — — 3,881 —     Longview Power, LLC        First Lien Term Loan2,348 — (1,389)(959)— — 1,306 — —     Mount Logan Capital Inc.        Common Stock2,341 — — (75)2,266 — — 27 —     Snap Fitness Holdings, Inc.        Class A Stock5,123 — — (187)4,936 — — — —         Warrants2,077 — — (76)2,001 — — — —     SRA Holdings, LLC        Membership Units— 23,611 — 95 23,706 — — — —     STATinMED, LLC        First Lien Term Loan9,107 683 — (133)9,657 — 696 — —         Delayed Draw First Lien Term Loan156 6 (162)— — — 10 — —     STATinMed Parent, LLC        Class A Preferred Units4,530 — — (2,004)2,526 — — — —         Class B Preferred Units134 — — (134)— — — — —     Totals$143,876 $65,929 $(2,026)$(9,695)$198,084 $— $7,690 $3,933 $2,397  See accompanying notes to consolidated financial statements. CĪON Investment Corporation Consolidated Schedule of Investments (unaudited) June 30, 2023 (in thousands) (1)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, 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. (2)Gross reductions include decreases in the cost basis of investments 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. (3)Includes PIK interest income.

[16] Non-income producing security.

[17] Investment determined to be an affiliated investment as defined in the 1940 Act as the Company owns between 5% and 25% of the portfolio company’s outstanding voting securities but does not control the portfolio company. Fair value as of December 31, 2021 and 2022, along with transactions during the year ended December 31, 2022 in these affiliated investments, were as follows: Year Ended December 31, 2022Year Ended December 31, 2022Non-Controlled, Affiliated InvestmentsFair Value at
December 31, 2021Gross
Additions
(Cost)(1)Gross
Reductions
(Cost)(2)Net Unrealized Gain (Loss)Fair Value at December 31, 2022Net Realized Gain (Loss)Interest
Income(3)Dividend Income    ARC Financial, LLC        Membership Interests$— $— $— $— $— $— $— $25     Berlitz Holdings, Inc.        First Lien Term Loan— 13,956 (13,956)— — — 393 —     Carestream Health, Inc.        First Lien Term Loan— 7,596 — (57)7,539 — 284 —     Carestream Health Holdings Inc.        Common Shares— 21,758 — (214)21,544 — — —     Charming Charlie, LLC        Vendor Payment Financing Facility350 — (657)307 — (657)26 —     DESG Holdings, Inc.        First Lien Term Loan1,787 — (306)(1,235)246 — 5 —         Second Lien Term Loan— — (10,017)10,017 — (10,017)— —     GSC Technologies Inc.        Incremental Term Loan170 8 (24)— 154 — 22 —         First Lien Term Loan A2,001 26 — 37 2,064 — 193 —         First Lien Term Loan B485 67 — (164)388 — 72 —         Common Shares— — — — — — — —     Instant Web Holdings, LLC        Class A Common Units— — — — — — — —     Instant Web, LLC        Revolving Loan— 970 (649)— 321 — 26 —         Priming Term Loan— 458 — 11 469 — 36 —         First Lien Term Loan— 39,802 — (11,635)28,167 — 3,314 —         First Lien Delayed Draw Term Loan— — — — — — 14 —     Language Education Holdings GP LLC        Common Units— — — — — — — —     Language Education Holdings LP        Ordinary Common Units— 1,125 (1,125)— — — — —     Lift Brands, Inc.        Term Loan A23,406 — (236)117 23,287 — 2,252 —         Term Loan B5,156 235 — (237)5,154 — 545 —         Term Loan C4,700 133 — (101)4,732 — 1,412 —     Longview Intermediate Holdings C, LLC        Membership Units15,127 — — 8,868 23,995 — — —     Longview Power, LLC        First Lien Term Loan4,504 156 (1,391)(921)2,348 — 1,952 —     Mount Logan Capital Inc.        Common Stock3,404 — — (1,063)2,341 — — 54     SIMR, LLC        First Lien Term Loan16,000 1,447 (21,261)3,814 — (2,854)804 —     SIMR Parent, LLC        Class B Membership Units— — (8,002)8,002 — (8,002)— —         Class W Membership Units— — — — — — — —  See accompanying notes to consolidated financial statements CĪON Investment Corporation Consolidated Schedule of Investments December 31, 2022 (in thousands) Year Ended December 31, 2022Year Ended December 31, 2022Non-Controlled, Affiliated InvestmentsFair Value at
December 31, 2021Gross
Additions
(Cost)(1)Gross
Reductions
(Cost)(2)Net Unrealized Gain (Loss)Fair Value at December 31, 2022Net Realized Gain (Loss)Interest
Income(3)Dividend Income    Snap Fitness Holdings, Inc.        Class A Stock3,131 — — 1,992 5,123 — — —         Warrants1,269 — — 808 2,077 — — —     STATinMED, LLC        First Lien Term Loan— 9,472 (250)(115)9,107 — 719 —         Delayed Draw First Lien Term Loan— 153 — 3 156 — — —     STATinMed Parent, LLC        Class A Preferred Units— 6,182 — (1,652)4,530 — — —         Class B Preferred Units— 3,193 — (3,059)134 — — —     Totals$81,490 $106,737 $(57,874)$13,523 $143,876 $(21,530)$12,069 $79  (1)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, 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. (2)Gross reductions include decreases in the cost basis of investments 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. (3)Includes PIK interest income.

[18] Non-income producing security.

[19] As of June 30, 2023, the below investments contain a PIK interest provision whereby the issuer has either the option or the obligation to make interest payments with the issuance of additional securities. For certain investments, the borrower may toggle between cash and PIK interest payments.   Interest RatePortfolio CompanyInvestment TypeCashPIKAll-in-RateAdapt Laser Acquisition, Inc.Senior Secured First Lien Debt15.24%2.00%17.24%American Clinical Solutions LLCSenior Secured First Lien Debt7.00%5.19%12.19%American Consolidated Natural Resources, Inc.Senior Secured First Lien Debt18.27%3.00%21.27%Ancile Solutions, Inc.Senior Secured First Lien Debt12.56%3.00%15.56%Anthem Sports & Entertainment Inc.Senior Secured First Lien Debt11.91%2.75%14.66%CION/EagleTree Partners, LLCSenior Secured Note—14.00%14.00%David's Bridal, LLCSenior Secured First Lien Debt14.25%5.00%19.25%David's Bridal, LLCSenior Secured First Lien Debt10.54%5.00%15.54%David's Bridal, LLCSenior Secured First Lien Debt1.00%11.54%12.54%Deluxe Entertainment Services, Inc.Senior Secured First Lien Debt10.54%1.50%12.04%Fusion Connect Inc.Senior Secured First Lien Debt12.86%1.00%13.86%GSC Technologies Inc.Senior Secured First Lien Debt—10.23%10.23%Hilliard, Martinez & Gonzales, LLPSenior Secured First Lien Debt—17.27%17.27%Homer City Generation, L.P.Senior Secured First Lien Debt—15.00%15.00%Instant Web, LLCSenior Secured First Lien Debt—12.22%12.22%Instant Web, LLCSenior Secured First Lien Debt—12.00%12.00%Instant Web, LLCSenior Secured Revolving Loan—11.77%11.77%K&N Parent, Inc.Senior Secured First Lien Debt—13.40%13.40%Klein Hersh, LLCSenior Secured First Lien Debt4.90%12.00%16.90%Lift Brands, Inc.Senior Secured First Lien Debt—9.50%9.50%Lucky Bucks Holdings LLCUnsecured Note—12.50%12.50%Robert C. Hilliard, L.L.P.Senior Secured First Lien Debt—17.27%17.27%Rogers Mechanical Contractors, LLCSenior Secured First Lien Debt12.09%1.00%13.09%Service Compression, LLCSenior Secured First Lien Debt13.20%2.00%15.20%Spinal USA, Inc. / Precision Medical Inc.Senior Secured First Lien Debt—14.68%14.68%STATinMED, LLCSenior Secured First Lien Debt—14.79%14.79%Trademark Global, LLCSenior Secured First Lien Debt8.10%4.50%12.60%Trammell, P.C.Senior Secured First Lien Debt—20.72%20.72%Williams Industrial Services Group, Inc.Senior Secured First Lien Debt10.00%6.18%16.18%WPLM Acquisition Corp.Unsecured Note—15.00%15.00%

[20] The interest rate on these loans is subject to 3 month LIBOR, which as of June 30, 2023 was 5.54%

[21] As of December 31, 2022, the below investments contain a PIK interest provision whereby the issuer has either the option or the obligation to make interest payments with the issuance of additional securities. For certain investments, the borrower may toggle between cash and PIK interest payments.   Interest RatePortfolio CompanyInvestment TypeCashPIKAll-in-RateAdapt Laser Acquisition, Inc.Senior Secured First Lien Debt14.76%2.00%16.76%American Clinical Solutions LLCSenior Secured First Lien Debt7.00%4.27%11.27%American Consolidated Natural Resources, Inc.Senior Secured First Lien Debt17.33%3.00%20.33%Ancile Solutions, Inc.Senior Secured First Lien Debt11.75%3.00%14.75%Anthem Sports & Entertainment Inc.Senior Secured First Lien Debt11.48%2.75%14.23%Cadence Aerospace, LLCSenior Secured First Lien Debt10.92%2.00%12.92%CION/EagleTree Partners, LLCSenior Secured Note—14.00%14.00%David's Bridal, LLCSenior Secured First Lien Debt9.28%5.00%14.28%David's Bridal, LLCSenior Secured First Lien Debt1.00%9.42%10.42%Deluxe Entertainment Services, Inc.Senior Secured First Lien Debt9.73%1.50%11.23%Fusion Connect Inc.Senior Secured First Lien Debt11.69%1.00%12.69%GSC Technologies Inc.Senior Secured First Lien Debt—9.12%9.12%GSC Technologies Inc.Senior Secured First Lien Debt9.37%5.00%14.37%Hilliard, Martinez & Gonzales, LLPSenior Secured First Lien Debt—16.24%16.24%Homer City Generation, L.P.Senior Secured First Lien Debt—15.00%15.00%Independent Pet Partners Intermediate Holdings, LLCSenior Secured First Lien Debt—6.00%6.00%Independent Pet Partners Intermediate Holdings, LLCSenior Secured First Lien Debt—13.00%13.00%Independent Pet Partners Intermediate Holdings, LLCSenior Secured First Lien Debt—11.26%11.26%Independent Pet Partners Intermediate Holdings, LLCSenior Secured First Lien Debt—14.42%14.42%Instant Web, LLCSenior Secured First Lien Debt—11.38%11.38%Lucky Bucks Holdings LLCUnsecured Note—12.50%12.50%Robert C. Hilliard, L.L.P.Senior Secured First Lien Debt—16.24%16.24%Rogers Mechanical Contractors, LLCSenior Secured First Lien Debt11.70%1.00%12.70%Service Compression, LLCSenior Secured First Lien Debt12.83%2.00%14.83%Spinal USA, Inc. / Precision Medical Inc.Senior Secured First Lien Debt—13.24%13.24%STATinMED, LLCSenior Secured First Lien Debt—13.80%13.80%STATinMED, LLCSenior Secured First Lien Debt—13.94%13.94%Trademark Global, LLCSenior Secured First Lien Debt7.07%4.50%11.57%Trammell, P.C.Senior Secured First Lien Debt—19.94%19.94%Vesta Holdings, LLCSenior Secured First Lien Debt—21.50%21.50%Williams Industrial Services Group, Inc.Senior Secured First Lien Debt10.00%2.75%12.75%WPLM Acquisition Corp.Unsecured Note—15.00%15.00%

[22] The interest rate on these loans is subject to 1 month LIBOR, which as of June 30, 2023 was 5.22%.

[23] The interest rate on these loans is subject to 1 month LIBOR, which as of December 31, 2022 was 4.39%.

[24] The interest rate on these loans is subject to 6 month SOFR, which as of June 30, 2023 was 5.39%.

[25] The interest rate on these loans is subject to 6 month LIBOR, which as of December 31, 2022 was 5.14%.

[26] Investment or a portion thereof was on non-accrual status as of December 31, 2022.

[27] Investment or a portion thereof was on non-accrual status as of June 30, 2023.

[28] The interest rate on these loans is subject to 1 month SOFR, which as of December 31, 2022 was 4.36%.

[29] The interest rate on these loans is subject to 1 month SOFR, which as of June 30, 2023 was 5.14%.

[30] Investment determined to be a controlled investment as defined in the 1940 Act as the Company is deemed to exercise a controlling influence over the management or policies of the portfolio company due to beneficially owning, either directly or through one or more controlled companies, more than 25% of the outstanding voting securities of such portfolio company. Fair value as of December 31, 2022 and June 30, 2023, along with transactions during the six months ended June 30, 2023 in these controlled investments, were as follows: Six Months Ended June 30, 2023 Six Months Ended June 30, 2023 Controlled InvestmentsFair Value at
December 31, 2022Gross
Additions
(Cost)(1)Gross
Reductions
(Cost)(2)Net 
Unrealized
Gain (Loss) Fair Value at June 30, 2023 Net Realized
Gain (Loss)Interest
Income(3)Dividend Income    CION/EagleTree Partners, LLC        Senior Secured Note$60,348 $— $(5,521)$— $54,827 $— $3,891 $—         Participating Preferred Shares30,766 — — (5,587)25,179 — — 4,250         Common Shares— — — — — — — —     Totals$91,114 $— $(5,521)$(5,587)$80,006 $— $3,891 $4,250  (1)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, 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. (2)Gross reductions include decreases in the cost basis of investments 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. (3)Includes PIK interest income.

[31] Investment determined to be a controlled investment as defined in the 1940 Act as the Company is deemed to exercise a controlling influence over the management or policies of the portfolio company due to beneficially owning, either directly or through one or more controlled companies, more than 25% of the outstanding voting securities of such portfolio company. Fair value as of December 31, 2021 and 2022, along with transactions during the year ended December 31, 2022 in these controlled investments, were as follows: Year Ended December 31, 2022Year Ended December 31, 2022Controlled InvestmentsFair Value at
December 31, 2021Gross
Additions
(Cost)(1)Gross
Reductions
(Cost)(2)Net 
Unrealized
Gain (Loss)Fair Value at
December 31, 2022Net Realized
Gain (Loss)Interest
Income(3)Dividend Income    CION/EagleTree Partners, LLC        Senior Secured Note$61,629 $2,718 $(3,999)$— $60,348 $— $8,531 $—         Participating Preferred Shares29,796 — — 970 30,766 — — 1,275         Common Shares— — — — — — — —     Totals$91,425 $2,718 $(3,999)$970 $91,114 $— $8,531 $1,275  (1)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, 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. (2)Gross reductions include decreases in the cost basis of investments 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. (3)Includes PIK interest income.

[32] As of June 30, 2023, the below investments contain a PIK interest provision whereby the issuer has either the option or the obligation to make interest payments with the issuance of additional securities. For certain investments, the borrower may toggle between cash and PIK interest payments.   Interest RatePortfolio CompanyInvestment TypeCashPIKAll-in-RateAdapt Laser Acquisition, Inc.Senior Secured First Lien Debt15.24%2.00%17.24%American Clinical Solutions LLCSenior Secured First Lien Debt7.00%5.19%12.19%American Consolidated Natural Resources, Inc.Senior Secured First Lien Debt18.27%3.00%21.27%Ancile Solutions, Inc.Senior Secured First Lien Debt12.56%3.00%15.56%Anthem Sports & Entertainment Inc.Senior Secured First Lien Debt11.91%2.75%14.66%CION/EagleTree Partners, LLCSenior Secured Note—14.00%14.00%David's Bridal, LLCSenior Secured First Lien Debt14.25%5.00%19.25%David's Bridal, LLCSenior Secured First Lien Debt10.54%5.00%15.54%David's Bridal, LLCSenior Secured First Lien Debt1.00%11.54%12.54%Deluxe Entertainment Services, Inc.Senior Secured First Lien Debt10.54%1.50%12.04%Fusion Connect Inc.Senior Secured First Lien Debt12.86%1.00%13.86%GSC Technologies Inc.Senior Secured First Lien Debt—10.23%10.23%Hilliard, Martinez & Gonzales, LLPSenior Secured First Lien Debt—17.27%17.27%Homer City Generation, L.P.Senior Secured First Lien Debt—15.00%15.00%Instant Web, LLCSenior Secured First Lien Debt—12.22%12.22%Instant Web, LLCSenior Secured First Lien Debt—12.00%12.00%Instant Web, LLCSenior Secured Revolving Loan—11.77%11.77%K&N Parent, Inc.Senior Secured First Lien Debt—13.40%13.40%Klein Hersh, LLCSenior Secured First Lien Debt4.90%12.00%16.90%Lift Brands, Inc.Senior Secured First Lien Debt—9.50%9.50%Lucky Bucks Holdings LLCUnsecured Note—12.50%12.50%Robert C. Hilliard, L.L.P.Senior Secured First Lien Debt—17.27%17.27%Rogers Mechanical Contractors, LLCSenior Secured First Lien Debt12.09%1.00%13.09%Service Compression, LLCSenior Secured First Lien Debt13.20%2.00%15.20%Spinal USA, Inc. / Precision Medical Inc.Senior Secured First Lien Debt—14.68%14.68%STATinMED, LLCSenior Secured First Lien Debt—14.79%14.79%Trademark Global, LLCSenior Secured First Lien Debt8.10%4.50%12.60%Trammell, P.C.Senior Secured First Lien Debt—20.72%20.72%Williams Industrial Services Group, Inc.Senior Secured First Lien Debt10.00%6.18%16.18%WPLM Acquisition Corp.Unsecured Note—15.00%15.00%

[33] As of December 31, 2022, the index rate for $2,096 and $1,943 was 1 Month LIBOR and 3 Month LIBOR, respectively.

[34] On July 21, 2023, the Company acquired substantially all of the assets of David's Bridal, LLC in a non-cash transaction upon exit from bankruptcy.

[35] In addition to the interest earned based on the stated interest rate of this loan, which is the amount reflected in this schedule, the Company may be entitled to receive additional residual amounts.

[36] In addition to the interest earned based on the stated interest rate of this loan, which is the amount reflected in this schedule, the Company may be entitled to receive additional residual amounts.

[37] The interest rate on these loans is subject to 6 month LIBOR, which as of June 30, 2023 was 5.76%.

[38] The ultimate interest earned on this loan will be determined based on the portfolio company’s EBITDA at a specified trigger event.

[39] Company has entered into a proceeds agreement with Macquarie Capital Funding LLC, or Macquarie, in which any proceeds received by Macquarie from an underlying first lien term loan are passed onto the Company. Macquarie's obligations under the proceeds agreement are not secured by any collateral. The interest rate, maturity date, par balance and industry reflect the terms of the underlying first lien term loan.

[40] Fair value determined using level 1 inputs.

[41] Fair value determined using level 1 inputs.

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Consolidated Schedule of Investments (unaudited) (Parenthetical) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended			12 Months Ended
		Jun. 30, 2023		Jun. 30, 2023		Jun. 30, 2022	Dec. 31, 2022
Fair value percentage		100.00%	[1]	100.00%	[1]		100.00%
Percentage of net assets, including liabilities in excess of net assets		213.80%	[1]	213.80%	[1]		199.20%
Liabilities in excess of other assets, percent of net assets		(113.80%)	[1]	(113.80%)	[1]		(99.20%)
Percentage total assets representing qualifying assets		94.30%		94.30%			93.40%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ 1,760,030
Fair Value, Ending Balance		$ 1,788,462	[2]	1,788,462	[2]		$ 1,760,030
Net Realized Gain (Loss)		(18,928)		(23,453)		$ 111	(32,750)
Fee income		1,631		4,694		4,009	9,544
Non-controlled, affiliated investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				143,876		81,490	81,490
Gross Additions Cost				65,929	[3]		106,737	[4]
Gross Reductions Cost				(2,026)	[5]		(57,874)	[6]
Net Unrealized Gain (Loss)				(9,695)			13,523
Fair Value, Ending Balance		198,084		198,084			143,876
Net Realized Gain (Loss)				0			(21,530)
Interest Income				7,690	[7]		12,069	[8]
Dividend Income		52		3,933		53	79
Fee income		477		2,397		506	525
Controlled investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				91,114		91,425	91,425
Gross Additions Cost				0	[9]		2,718	[10]
Gross Reductions Cost				(5,521)	[11]		(3,999)	[12]
Net Unrealized Gain (Loss)				(5,587)			970
Fair Value, Ending Balance		80,006		80,006			91,114
Net Realized Gain (Loss)				0			0
Interest Income				3,891	[13]		8,531	[14]
Dividend Income		$ 0		$ 4,250		0	$ 1,275
Investment, Identifier [Axis]: AHF Parent Holding, Inc., Senior Secured First Lien Debt, 2/1/2028 Maturity
Interest rate basis spread on variable rate		6.25%	[15],[16],[17]	6.25%	[15],[16],[17]		6.25%	[18],[19],[20]
Interest rate, floor		0.75%	[15],[16],[17]	0.75%	[15],[16],[17]		0.75%	[18],[19],[20]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[18],[20]			$ 2,771
Fair Value, Ending Balance		$ 2,714	[15],[17]	2,714	[15],[17]		$ 2,771	[18],[20]
Principal amount		$ 2,813	[15],[17],[21]	$ 2,813	[15],[17],[21]		$ 2,944	[18],[20]
Investment, Identifier [Axis]: ALM Media, LLC 1, Senior Secured First Lien Debt, 11/25/2024 Maturity
Interest rate basis spread on variable rate	[18],[19],[22],[23]						6.50%
Interest rate, floor	[18],[19],[22],[23]						1.00%
Investment, Identifier [Axis]: ALM Media, LLC, Senior Secured First Lien Debt, 11/25/2024 Maturity
Interest rate basis spread on variable rate	[15],[16],[17],[24]	6.00%		6.00%
Interest rate, floor	[15],[16],[17],[24]	1.00%		1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[18],[22],[23]			$ 17,000
Fair Value, Ending Balance		$ 16,421	[15],[17],[24]	16,421	[15],[17],[24]		$ 17,000	[18],[22],[23]
Principal amount		$ 16,421	[15],[17],[21],[24]	$ 16,421	[15],[17],[21],[24]		$ 17,000	[18],[22],[23]
Investment, Identifier [Axis]: APIDOS CLO XVI Subordinated Notes., Collateralized Securities and Structured Products - Equity, 1/19/2025 Maturity
Investment estimated yield		0.00%	[16],[25],[26]	0.00%	[16],[25],[26]		0.00%	[27],[28]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[27],[28]			$ 71
Fair Value, Ending Balance		$ 13	[25],[26]	13	[25],[26]		$ 71	[27],[28]
Principal amount		9,000	[21],[25],[26]	9,000	[21],[25],[26]		9,000	[27],[28]
Investment, Identifier [Axis]: ARC Financial Partners, LLC, Membership Interests., Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[29],[30]			0
Fair Value, Ending Balance		0	[31],[32]	0	[31],[32]		0	[29],[30]
Investment, Identifier [Axis]: ARC Financial, LLC, Membership Interests, Non-Controlled, Affiliated Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				0		0	0
Gross Additions Cost				0	[3]		0	[4]
Gross Reductions Cost				0	[5]		0	[6]
Net Unrealized Gain (Loss)				0			0
Fair Value, Ending Balance		$ 0		0			0
Net Realized Gain (Loss)				0			0
Interest Income				0	[7]		0	[8]
Dividend Income				25			$ 25
Fee income				$ 0
Investment, Identifier [Axis]: Adapt Laser Acquisition, Inc., Senior Secured First Lien Debt
Interest rate		17.24%		17.24%			16.76%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash		15.24%		15.24%			14.76%
PIK		2.00%		2.00%			2.00%
All-in-Rate		17.24%		17.24%			16.76%
Investment, Identifier [Axis]: Adapt Laser Acquisition, Inc., Senior Secured First Lien Debt, 12/31/2023 Maturity, 1
Interest rate basis spread on variable rate		12.00%	[16],[33],[34]	12.00%	[16],[33],[34]		12.00%	[19],[23],[35]
Interest rate, floor		1.00%	[16],[33],[34]	1.00%	[16],[33],[34]		1.00%	[19],[23],[35]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[23],[35]			$ 10,329
Fair Value, Ending Balance		$ 11,143	[33],[34]	11,143	[33],[34]		$ 10,329	[23],[35]
Principal amount		$ 10,979	[21],[33],[34]	$ 10,979	[21],[33],[34]		$ 11,047	[23],[35]
Investment, Identifier [Axis]: Adapt Laser Acquisition, Inc., Senior Secured First Lien Debt, 12/31/2023 Maturity, 2
Interest rate basis spread on variable rate		12.00%	[16],[33],[34]	12.00%	[16],[33],[34]		12.00%	[19],[23],[35]
Interest rate, floor		1.00%	[16],[33],[34]	1.00%	[16],[33],[34]		1.00%	[19],[23],[35]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[23],[35]			$ 1,875
Fair Value, Ending Balance		$ 2,041	[33],[34]	2,041	[33],[34]		$ 1,875	[23],[35]
Principal amount		2,093	[21],[33],[34]	2,093	[21],[33],[34]		2,072	[23],[35]
Investment, Identifier [Axis]: Afore Insurance Services, LLC, First Lien Term Loan, Non-Controlled, Affiliated Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				0
Gross Additions Cost	[3]			4,583
Gross Reductions Cost	[5]			0
Net Unrealized Gain (Loss)				(11)
Fair Value, Ending Balance		$ 4,572		4,572			$ 0
Net Realized Gain (Loss)				0
Interest Income	[7]			138
Dividend Income				0
Fee income				$ 0
Investment, Identifier [Axis]: Afore Insurance Services, LLC., Senior Secured First Lien Debt, 3/24/2025 Maturity
Interest rate basis spread on variable rate	[16],[17],[24],[31]	6.00%		6.00%
Interest rate, floor	[16],[17],[24],[31]	1.00%		1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[17],[24],[31]	$ 4,572		$ 4,572
Principal amount	[17],[21],[24],[31]	$ 4,583		$ 4,583
Investment, Identifier [Axis]: Allen Media, LLC, Senior Secured First Lien Debt, 2/10/2027 Maturity
Interest rate basis spread on variable rate		6.00%	[15],[16],[17]	6.00%	[15],[16],[17]		5.50%	[18],[19],[20]
Interest rate, floor		0.00%	[15],[16],[17]	0.00%	[15],[16],[17]		0.00%	[18],[19],[20]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[18],[20]			$ 8,420
Fair Value, Ending Balance		$ 8,553	[15],[17]	8,553	[15],[17]		$ 8,420	[18],[20]
Principal amount		$ 8,818	[15],[17],[21]	$ 8,818	[15],[17],[21]		$ 8,863	[18],[20]
Investment, Identifier [Axis]: American Clinical Solutions LLC, Senior Secured First Lien Debt
Interest rate		12.19%		12.19%			11.27%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash		7.00%		7.00%			7.00%
PIK		5.19%		5.19%			4.27%
All-in-Rate		12.19%		12.19%			11.27%
Investment, Identifier [Axis]: American Clinical Solutions LLC, Senior Secured First Lien Debt, 12/31/2024 Maturity
Interest rate basis spread on variable rate	[16],[24],[33],[36]	7.00%		7.00%
Interest rate, floor		100.00%	[16],[24],[33],[36]	100.00%	[16],[24],[33],[36]		100.00%	[19],[22],[35],[37]
Interest rate	[19],[22],[35],[37]						7.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[35],[37]			$ 4,122
Fair Value, Ending Balance		$ 4,726	[24],[33],[36]	4,726	[24],[33],[36]		$ 4,122	[22],[35],[37]
All-in-Rate	[19],[22],[35],[37]						7.00%
Principal amount		$ 4,859	[21],[24],[33],[36]	$ 4,859	[21],[24],[33],[36]		$ 4,250	[22],[35],[37]
Investment, Identifier [Axis]: American Consolidated Natural Resources, Inc., Senior Secured First Lien Debt
Interest rate		21.27%		21.27%			20.33%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash		18.27%		18.27%			17.33%
PIK		3.00%		3.00%			3.00%
All-in-Rate		21.27%		21.27%			20.33%
Investment, Identifier [Axis]: American Consolidated Natural Resources, Inc., Senior Secured First Lien Debt, 9/16/2025 Maturity
Interest rate basis spread on variable rate		16.00%	[16],[24],[33],[34]	16.00%	[16],[24],[33],[34]		16.00%	[19],[22],[23],[35]
Interest rate, floor		1.00%	[16],[24],[33],[34]	1.00%	[16],[24],[33],[34]		1.00%	[19],[22],[23],[35]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[23],[35]			$ 47
Fair Value, Ending Balance		$ 48	[24],[33],[34]	48	[24],[33],[34]		$ 47	[22],[23],[35]
Principal amount		$ 47	[21],[24],[33],[34]	$ 47	[21],[24],[33],[34]		$ 47	[22],[23],[35]
Investment, Identifier [Axis]: American Health Staffing Group, Inc. Senior Secured First Lien Debt, 11/19/2026 Maturity, 1
Interest rate basis spread on variable rate	[16],[24],[38]	6.00%		6.00%
Interest rate, floor	[16],[24],[38]	1.00%		1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[24],[38]	$ 16,458		$ 16,458
Principal amount	[21],[24],[38]	$ 16,458		16,458
Investment, Identifier [Axis]: American Health Staffing Group, Inc. Senior Secured First Lien Debt, 11/19/2026 Maturity, 2
Interest rate basis spread on variable rate	[19],[22],[39]						6.00%
Interest rate, floor	[19],[22],[39]						1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[39]			16,542
Fair Value, Ending Balance	[22],[39]						$ 16,542
Principal amount	[22],[39]						$ 16,542
Investment, Identifier [Axis]: American Health Staffing Group, Inc., Senior Secured First Lien Debt, 11/19/2026 Maturity, 1
Interest rate, unfunded	[19]						0.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ 0
Fair Value, Ending Balance							$ 0
Principal amount							$ 3,333
Investment, Identifier [Axis]: American Health Staffing Group, Inc., Senior Secured First Lien Debt, 11/19/2026 Maturity, 2
Interest rate, unfunded	[16]	0.50%		0.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance		$ 0		$ 0
Principal amount	[21]	$ 3,333		3,333
Investment, Identifier [Axis]: American Teleconferencing Services, Ltd. Senior Secured First Lien Debt, 1/31/23 Maturity, 2
Interest rate basis spread on variable rate	[19],[40]						5.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[40]			156
Fair Value, Ending Balance	[40]						$ 156
Principal amount	[40]						$ 3,116
Investment, Identifier [Axis]: American Teleconferencing Services, Ltd., Senior Secured First Lien Debt, 1/31/23 Maturity, 1
Interest rate, unfunded	[19],[30],[40]						0.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[30],[40]			$ 0
Fair Value, Ending Balance	[30],[40]						$ 0
Principal amount	[30],[40]						$ 235
Investment, Identifier [Axis]: American Teleconferencing Services, Ltd., Senior Secured First Lien Debt, 4/07/2023 Maturity, 2
Interest rate, unfunded	[16],[32]	0.00%		0.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[32]	$ 0		$ 0
Principal amount	[21],[32]	$ 235		$ 235
Investment, Identifier [Axis]: American Teleconferencing Services, Ltd., Senior Secured First Lien Debt, 4/07/2023 Maturity, 1
Interest rate basis spread on variable rate	[16],[41]	5.50%		5.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[41]	$ 140		$ 140
Principal amount	[21],[41]	$ 3,116		$ 3,116
Investment, Identifier [Axis]: Analogic Corp., Senior Secured First Lien Debt, 6/21/2024 Maturity
Interest rate basis spread on variable rate		5.25%	[15],[16],[17],[24]	5.25%	[15],[16],[17],[24]		5.25%	[18],[19],[22],[23]
Interest rate, floor		1.00%	[15],[16],[17],[24]	1.00%	[15],[16],[17],[24]		1.00%	[18],[19],[22],[23]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[18],[22],[23]			$ 4,795
Fair Value, Ending Balance		$ 4,819	[15],[17],[24]	4,819	[15],[17],[24]		$ 4,795	[18],[22],[23]
Principal amount		$ 4,825	[15],[17],[21],[24]	$ 4,825	[15],[17],[21],[24]		$ 4,850	[18],[22],[23]
Investment, Identifier [Axis]: Ancile Solutions, Inc., Senior Secured First Lien Debt
Interest rate		15.56%		15.56%			14.75%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash		12.56%		12.56%			11.75%
PIK		3.00%		3.00%			3.00%
All-in-Rate		15.56%		15.56%			14.75%
Investment, Identifier [Axis]: Ancile Solutions, Inc., Senior Secured First Lien Debt, 6/11/2026 Maturity
Interest rate basis spread on variable rate		10.00%	[16],[24],[33],[34]	10.00%	[16],[24],[33],[34]		10.00%	[19],[22],[23],[35]
Interest rate, floor		1.00%	[16],[24],[33],[34]	1.00%	[16],[24],[33],[34]		1.00%	[19],[22],[23],[35]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[23],[35]			$ 11,608
Fair Value, Ending Balance		$ 11,231	[24],[33],[34]	11,231	[24],[33],[34]		$ 11,608	[22],[23],[35]
Principal amount		$ 11,359	[21],[24],[33],[34]	$ 11,359	[21],[24],[33],[34]		$ 11,967	[22],[23],[35]
Investment, Identifier [Axis]: Anthem Sports & Entertainment Inc., Senior Secured First Lien Debt
Interest rate		14.66%		14.66%			14.23%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash		11.91%		11.91%			11.48%
PIK		2.75%		2.75%			2.75%
All-in-Rate		14.66%		14.66%			14.23%
Investment, Identifier [Axis]: Anthem Sports & Entertainment Inc., Senior Secured First Lien Debt, 11/15/2026 Maturity, 1
Interest rate basis spread on variable rate	[16],[24],[33],[34]	9.50%		9.50%
Interest rate, floor	[16],[24],[33],[34]	1.00%		1.00%
Interest rate, unfunded	[19]						0.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ (8)
Fair Value, Ending Balance		$ 35,037	[24],[33],[34]	35,037	[24],[33],[34]		$ (8)
Principal amount		$ 37,076	[21],[24],[33],[34]	$ 37,076	[21],[24],[33],[34]		$ 167
Investment, Identifier [Axis]: Anthem Sports & Entertainment Inc., Senior Secured First Lien Debt, 11/15/2026 Maturity, 2
Interest rate basis spread on variable rate		9.50%	[16],[34]	9.50%	[16],[34]		9.50%	[19],[22],[23],[35]
Interest rate, floor		1.00%	[16],[34]	1.00%	[16],[34]		1.00%	[19],[22],[23],[35]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[23],[35]			$ 35,161
Fair Value, Ending Balance		$ 2,835	[34]	2,835	[34]		$ 35,161	[22],[23],[35]
Principal amount		$ 3,000	[21],[34]	$ 3,000	[21],[34]		$ 36,914	[22],[23],[35]
Investment, Identifier [Axis]: Anthem Sports & Entertainment Inc., Senior Secured First Lien Debt, 11/15/2026 Maturity, 3
Interest rate basis spread on variable rate	[19],[23]						9.50%
Interest rate, floor	[19],[23]						1.00%
Interest rate, unfunded	[16]	0.50%		0.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[23]			$ 2,857
Fair Value, Ending Balance		$ (9)		(9)			$ 2,857	[23]
Principal amount		$ 167	[21]	167	[21]		$ 3,000	[23]
Investment, Identifier [Axis]: Appalachian Resource Company, LLC, Senior Secured First Lien Debt, 9/10/2023 Maturity, 1
Interest rate basis spread on variable rate	[19],[37]						10.00%
Interest rate, floor	[19],[37]						1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[37]			5,000
Fair Value, Ending Balance	[37]						$ 5,000
Principal amount	[37]						$ 5,000
Investment, Identifier [Axis]: Appalachian Resource Company, LLC, Senior Secured First Lien Debt, 9/10/2023 Maturity, 2
Interest rate basis spread on variable rate	[19],[37]						5.00%
Interest rate, floor	[19],[37]						1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[37]			$ 10,733
Fair Value, Ending Balance	[37]						$ 10,733
Principal amount	[37]						$ 11,137
Investment, Identifier [Axis]: Appalachian Resource Company, LLC, Senior Secured First Lien Debt, 9/15/2023 Maturity
Interest rate basis spread on variable rate	[16],[36]	10.00%		10.00%
Interest rate, floor	[16],[36]	1.00%		1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[36]	$ 5,000		$ 5,000
Principal amount	[21],[36]	$ 5,000		$ 5,000
Investment, Identifier [Axis]: Appalachian Resource Company, LLC, Senior Secured First Lien Debt, 9/30/2023 Maturity
Interest rate basis spread on variable rate	[16],[36]	5.00%		5.00%
Interest rate, floor	[16],[36]	1.00%		1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[36]	$ 10,733		$ 10,733
Principal amount	[21],[36]	$ 11,137		$ 11,137
Investment, Identifier [Axis]: Archer Systems, LLC, Senior Secured First Lien Debt, 8/11/2027 Maturity, 1
Interest rate basis spread on variable rate		6.00%	[16],[17],[24]	6.00%	[16],[17],[24]		6.50%	[19],[22],[42]
Interest rate, floor		1.00%	[16],[17],[24]	1.00%	[16],[17],[24]		1.00%	[19],[22],[42]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[42]			$ 17,937
Fair Value, Ending Balance		$ 22,180	[17],[24]	22,180	[17],[24]		$ 17,937	[22],[42]
Principal amount		$ 22,098	[17],[21],[24]	$ 22,098	[17],[21],[24]		$ 18,095	[22],[42]
Investment, Identifier [Axis]: Archer Systems, LLC, Senior Secured First Lien Debt, 8/11/2027 Maturity, 2
Interest rate, unfunded	[16]	0.50%		0.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance		$ 7		$ 7
Principal amount	[21]	1,905		1,905
Investment, Identifier [Axis]: Archer Systems, LLC, Senior Secured First Lien Debt, 8/11/2027 Maturity, 3
Interest rate, unfunded	[19]						0.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				(17)
Fair Value, Ending Balance							$ (17)
Principal amount							1,905
Investment, Identifier [Axis]: Ascent Resources - Marcellus, LLC, Membership Units., Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[30]			1,235
Fair Value, Ending Balance		$ 746	[32]	746	[32]		1,235	[30]
Investment, Identifier [Axis]: Ascent Resources - Marcellus, LLC, Warrants., Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[30]			$ 3
Fair Value, Ending Balance	[30]						$ 3
Investment, Identifier [Axis]: Associated Asphalt Partners, LLC, Senior Secured First Lien Debt, 4/5/2024 Maturity
Interest rate basis spread on variable rate		5.25%	[15],[16],[24],[34]	5.25%	[15],[16],[24],[34]		5.25%	[18],[19],[22],[37]
Interest rate, floor		1.00%	[15],[16],[24],[34]	1.00%	[15],[16],[24],[34]		1.00%	[18],[19],[22],[37]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[18],[22],[37]			$ 10,994
Fair Value, Ending Balance		$ 11,424	[15],[24],[34]	11,424	[15],[24],[34]		$ 10,994	[18],[22],[37]
Principal amount		$ 14,135	[15],[21],[24],[34]	$ 14,135	[15],[21],[24],[34]		$ 14,221	[18],[22],[37]
Investment, Identifier [Axis]: Atlas Supply LLC, Senior Secured First Lien Debt, 4/29/2025 Maturity
Interest rate		11.00%	[16]	11.00%	[16]		11.00%	[19]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ 4,950
Fair Value, Ending Balance		$ 4,938		$ 4,938			$ 4,950
All-in-Rate		11.00%	[16]	11.00%	[16]		11.00%	[19]
Principal amount		$ 5,000	[21]	$ 5,000	[21]		$ 5,000
Investment, Identifier [Axis]: Avison Young (USA) Inc., Senior Secured First Lien Debt, 1/31/2026 Maturity
Interest rate basis spread on variable rate		6.50%	[16],[24],[43]	6.50%	[16],[24],[43]		5.75%	[19],[22],[28],[37]
Interest rate, floor		0.00%	[16],[24],[43]	0.00%	[16],[24],[43]		0.00%	[19],[22],[28],[37]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[28],[37]			$ 2,505
Fair Value, Ending Balance		$ 5,595	[24],[43]	5,595	[24],[43]		$ 2,505	[22],[28],[37]
Principal amount		$ 6,660	[21],[24],[43]	$ 6,660	[21],[24],[43]		$ 2,665	[22],[28],[37]
Investment, Identifier [Axis]: BDS Solutions Intermediateco, LLC, Senior Secured First Lien Debt, 2/7/2027 Maturity, 1
Interest rate basis spread on variable rate		6.25%	[16],[17],[24]	6.25%	[16],[17],[24]		6.25%	[19],[20]
Interest rate, floor		1.00%	[16],[17],[24]	1.00%	[16],[17],[24]		1.00%	[19],[20]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[20]			$ 17,466
Fair Value, Ending Balance		$ 19,605	[17],[24]	19,605	[17],[24]		$ 17,466	[20]
Principal amount		$ 19,979	[17],[21],[24]	$ 19,979	[17],[21],[24]		$ 17,822	[20]
Investment, Identifier [Axis]: BDS Solutions Intermediateco, LLC, Senior Secured First Lien Debt, 2/7/2027 Maturity, 2
Interest rate basis spread on variable rate		6.25%	[16],[17]	6.25%	[16],[17]		6.25%	[19],[20]
Interest rate, floor		1.00%	[16],[17]	1.00%	[16],[17]		1.00%	[19],[20]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[20]			$ 842
Fair Value, Ending Balance		$ 1,777	[17]	1,777	[17]		$ 842	[20]
Principal amount		$ 1,811	[17],[21]	$ 1,811	[17],[21]		$ 859	[20]
Investment, Identifier [Axis]: BDS Solutions Intermediateco, LLC, Senior Secured First Lien Debt, 2/7/2027 Maturity, 3
Interest rate, unfunded		0.50%	[16]	0.50%	[16]		0.50%	[19]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ (40)
Fair Value, Ending Balance		$ (20)		(20)			$ (40)
Principal amount		$ 1,046	[21]	1,046	[21]		1,998
Investment, Identifier [Axis]: Berlitz Holdings, Inc., First Lien Term Loan, Non-Controlled, Affiliated Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ 0		0	0
Gross Additions Cost	[4]						13,956
Gross Reductions Cost	[6]						(13,956)
Net Unrealized Gain (Loss)							0
Fair Value, Ending Balance							0
Net Realized Gain (Loss)							0
Interest Income	[8]						393
Dividend Income							$ 0
Investment, Identifier [Axis]: Berlitz Holdings, Inc., Senior Secured First Lien Debt, 2/14/2025 Maturity
Interest rate basis spread on variable rate		9.00%	[16],[43]	9.00%	[16],[43]		9.00%	[19],[29],[42]
Interest rate, floor		1.00%	[16],[43]	1.00%	[16],[43]		1.00%	[19],[29],[42]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[29],[42]			$ 13,179
Fair Value, Ending Balance		$ 13,421	[43]	13,421	[43]		$ 13,179	[29],[42]
Principal amount		$ 13,800	[21],[43]	$ 13,800	[21],[43]		$ 13,800	[29],[42]
Investment, Identifier [Axis]: Bradshaw International Parent Corp., Senior Secured First Lien Debt, 10/21/2026 Maturity, 1
Interest rate, unfunded		0.50%	[16]	0.50%	[16]		0.50%	[19]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ (53)
Fair Value, Ending Balance		$ (51)		(51)			$ (53)
Principal amount		$ 1,844	[21]	$ 1,844	[21]		$ 1,844
Investment, Identifier [Axis]: Bradshaw International Parent Corp., Senior Secured First Lien Debt, 10/21/2027 Maturity, 3
Interest rate basis spread on variable rate		5.75%	[16],[24],[43]	5.75%	[16],[24],[43]		5.75%	[19],[22],[37]
Interest rate, floor		1.00%	[16],[24],[43]	1.00%	[16],[24],[43]		1.00%	[19],[22],[37]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[37]			$ 12,650
Fair Value, Ending Balance		$ 12,544	[24],[43]	12,544	[24],[43]		$ 12,650	[22],[37]
Principal amount		12,899	[21],[24],[43]	12,899	[21],[24],[43]		$ 13,024	[22],[37]
Investment, Identifier [Axis]: CB URS Holdings Corp., Senior Secured First Lien Debt, 9/01/2024 Maturity
Interest rate basis spread on variable rate	[19],[22],[23]						5.75%
Interest rate, floor	[19],[22],[23]						1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[23]			12,417
Fair Value, Ending Balance	[22],[23]						$ 12,417
Principal amount	[22],[23]						14,826
Investment, Identifier [Axis]: CF Arch Holdings LLC, Class A Units, Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[30]			442
Fair Value, Ending Balance		564	[32]	564	[32]		442	[30]
Investment, Identifier [Axis]: CION/EagleTree Partners, LLC, Common Shares, Controlled Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				0		0	0
Gross Additions Cost				0	[9]		0	[10]
Gross Reductions Cost				0	[11]		0	[12]
Net Unrealized Gain (Loss)				0			0
Fair Value, Ending Balance		0		0			0
Net Realized Gain (Loss)				0			0
Interest Income				0	[13]		0	[14]
Dividend Income				0			0
Investment, Identifier [Axis]: CION/EagleTree Partners, LLC, Membership Units Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[26],[32],[44]	0		0
Investment, Identifier [Axis]: CION/EagleTree Partners, LLC, Membership Units, Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[28],[30],[45]			0
Fair Value, Ending Balance	[28],[30],[45]						0
Investment, Identifier [Axis]: CION/EagleTree Partners, LLC, Participating Preferred Shares Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[28],[30],[45]			30,766
Fair Value, Ending Balance		25,179	[26],[44]	25,179	[26],[44]		30,766	[28],[30],[45]
Investment, Identifier [Axis]: CION/EagleTree Partners, LLC, Participating Preferred Shares, Controlled Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				30,766		29,796	29,796
Gross Additions Cost				0	[9]		0	[10]
Gross Reductions Cost				0	[11]		0	[12]
Net Unrealized Gain (Loss)				(5,587)			970
Fair Value, Ending Balance		$ 25,179		25,179			30,766
Net Realized Gain (Loss)				0			0
Interest Income				0	[13]		0	[14]
Dividend Income				$ 4,250			$ 1,275
Investment, Identifier [Axis]: CION/EagleTree Partners, LLC, Senior Secured Note
Interest rate		14.00%		14.00%			14.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash		0.00%		0.00%			0.00%
PIK		14.00%		14.00%			14.00%
All-in-Rate		14.00%		14.00%			14.00%
Investment, Identifier [Axis]: CION/EagleTree Partners, LLC, Senior Secured Note, Controlled Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ 60,348		61,629	$ 61,629
Gross Additions Cost				0	[9]		2,718	[10]
Gross Reductions Cost				(5,521)	[11]		(3,999)	[12]
Net Unrealized Gain (Loss)				0			0
Fair Value, Ending Balance		$ 54,827		54,827			60,348
Net Realized Gain (Loss)				0			0
Interest Income				3,891	[13]		8,531	[14]
Dividend Income				$ 0			$ 0
Investment, Identifier [Axis]: CION/EagleTree Partners, LLC., Senior Secured First Lien Debt, 12/21/2026 Maturity
Interest rate		14.00%	[16],[26],[33],[44]	14.00%	[16],[26],[33],[44]		14.00%	[19],[28],[35],[45]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[28],[35],[45]			$ 60,348
Fair Value, Ending Balance		$ 54,827	[26],[33],[44]	$ 54,827	[26],[33],[44]		$ 60,348	[28],[35],[45]
All-in-Rate		14.00%	[16],[26],[33],[44]	14.00%	[16],[26],[33],[44]		14.00%	[19],[28],[35],[45]
Principal amount		$ 54,827	[21],[26],[33],[44]	$ 54,827	[21],[26],[33],[44]		$ 60,348	[28],[35],[45]
Investment, Identifier [Axis]: CION/EagleTree, Access CIG, LLC, Senior Secured Second Lien Debt
Interest rate basis spread on variable rate		7.75%		7.75%			7.75%
Interest rate, floor		0.00%		0.00%			0.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ 6,933
Fair Value, Ending Balance		$ 7,105		7,105			$ 6,933
Principal amount		7,250		7,250			7,250
Investment, Identifier [Axis]: CION/EagleTree, American Clinical Solutions LLC, Class A Membership Interests, Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				3,618
Fair Value, Ending Balance		5,910		5,910			3,618
Investment, Identifier [Axis]: CION/EagleTree, Anthem Sports and Entertainment Inc., Class A Preferred Stock Warrants, Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				1,881
Fair Value, Ending Balance		1,553		1,553			1,881
Investment, Identifier [Axis]: CION/EagleTree, Anthem Sports and Entertainment Inc., Class B Preferred Stock Warrants, Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				187
Fair Value, Ending Balance		171		171			187
Investment, Identifier [Axis]: CION/EagleTree, Anthem Sports and Entertainment Inc., Common Stock Warrants, Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				580
Fair Value, Ending Balance		96		96			580
Investment, Identifier [Axis]: CION/EagleTree, BCP Great Lakes II - Series A Holdings LP, Partnership Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance		$ 12,672		12,672
Investment, Identifier [Axis]: CION/EagleTree, BCP Great Lakes II - Series A Holdings LP, Partnership Interests, Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ 11,058
Fair Value, Ending Balance							$ 11,058
Investment, Identifier [Axis]: CION/EagleTree, Berlitz Holdings, Inc, Senior Secured First Lien Debt
Interest rate basis spread on variable rate		9.00%		9.00%			9.00%
Interest rate, floor		1.00%		1.00%			1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ 1,146
Fair Value, Ending Balance		$ 1,167		1,167			$ 1,146
Principal amount		1,200		1,200			1,200
Investment, Identifier [Axis]: CION/EagleTree, CHC Medical Partners, Inc., Series C Preferred Stock, Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				8,877
Fair Value, Ending Balance		9,321		9,321			8,877
Investment, Identifier [Axis]: CION/EagleTree, CTS Ultimate Holdings LLC, Class A Preferred Units, Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				859
Fair Value, Ending Balance		608		608			859
Investment, Identifier [Axis]: CION/EagleTree, Carestream Health Holdings, Inc., Common Stock, Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				21,544
Fair Value, Ending Balance		$ 20,716		$ 20,716			$ 21,544
Investment, Identifier [Axis]: CION/EagleTree, Community Tree Service, LLC, Senior Secured First Lien Debt
Interest rate basis spread on variable rate		11.00%		11.00%			8.50%
Interest rate, floor		1.00%		1.00%			1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ 489
Fair Value, Ending Balance		$ 452		452			$ 489
Principal amount		460		460			499
Investment, Identifier [Axis]: CION/EagleTree, Dayton HoldCo, LLC, Membership Units, Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				15,334
Fair Value, Ending Balance		$ 14,537		14,537			$ 15,334
Investment, Identifier [Axis]: CION/EagleTree, Dayton Superior Corp, Senior Secured Second Lien Debt
Interest rate basis spread on variable rate							7.00%
Interest rate, floor							2.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ 1,007
Fair Value, Ending Balance							$ 1,007
Principal amount							$ 1,010
Investment, Identifier [Axis]: CION/EagleTree, Future Pak, LLC, Senior Secured First Lien Debt
Interest rate basis spread on variable rate		10.00%		10.00%			8.00%
Interest rate, floor		2.00%		2.00%			2.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ 1,372
Fair Value, Ending Balance		$ 1,162		1,162			$ 1,372
Principal amount		1,162		1,162			1,395
Investment, Identifier [Axis]: CION/EagleTree, HDNet Holdco LLC, Preferred Unit Call Option, Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				185
Fair Value, Ending Balance		100		100			185
Investment, Identifier [Axis]: CION/EagleTree, HW Ultimate Holdings, LP, Class A Membership Units, Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				130
Fair Value, Ending Balance		$ 0		$ 0			$ 130
Investment, Identifier [Axis]: CION/EagleTree, Ivy Hill Middle Market Credit Fund VIII, Ltd. Subordinated Loan, Collateralized Securities and Structured Products - Equity
Investment estimated yield		11.84%		11.84%			11.84%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ 9,523
Fair Value, Ending Balance		$ 9,263		9,263			$ 9,523
Principal amount		10,000		10,000			10,000
Investment, Identifier [Axis]: CION/EagleTree, Language Education Holdings GP LLC, Common Units, Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				0
Fair Value, Ending Balance		0		0			0
Investment, Identifier [Axis]: CION/EagleTree, Language Education Holdings LP, Ordinary Common Units, Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				427
Fair Value, Ending Balance		$ 495		$ 495			$ 427
Investment, Identifier [Axis]: CION/EagleTree, MedPlast Holdings, Inc, Senior Secured Second Lien Debt
Interest rate basis spread on variable rate		7.75%		7.75%			7.75%
Interest rate, floor		0.00%		0.00%			0.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ 6,337
Fair Value, Ending Balance		$ 6,539		6,539			$ 6,337
Principal amount		6,750		6,750			6,750
Investment, Identifier [Axis]: CION/EagleTree, Skillsoft Corp., Class A Common Stock, Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				316
Fair Value, Ending Balance		302		302			316
Investment, Identifier [Axis]: CION/EagleTree, Spinal USA, Inc. / Precision Medical Inc., Warrants, Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				0
Fair Value, Ending Balance		$ 0		0			$ 0
Investment, Identifier [Axis]: CION/EagleTree, Zest Acquisition Corp, Senior Secured Second Lien Debt
Interest rate basis spread on variable rate							7.00%
Interest rate, floor							1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ 14,175
Fair Value, Ending Balance							$ 14,175
Principal amount							$ 15,000
Investment, Identifier [Axis]: Cabi, LLC, Senior Secured First Lien Debt, 2/28/2027 Maturity
Interest rate basis spread on variable rate		5.50%	[16],[24],[43]	5.50%	[16],[24],[43]		9.50%	[19],[22],[42]
Interest rate, floor		2.00%	[16],[24],[43]	2.00%	[16],[24],[43]		1.00%	[19],[22],[42]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[42]			$ 21,742
Fair Value, Ending Balance		$ 21,522	[24],[43]	21,522	[24],[43]		$ 21,742	[22],[42]
Principal amount		$ 21,576	[21],[24],[43]	21,576	[21],[24],[43]		$ 22,073	[22],[42]
Investment, Identifier [Axis]: Cadence Aerospace, LLC, Senior Secured First Lien Debt
Interest rate							12.92%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash							10.92%
PIK							2.00%
All-in-Rate							12.92%
Investment, Identifier [Axis]: Cadence Aerospace, LLC, Senior Secured First Lien Debt, 11/14/2023 Maturity
Interest rate basis spread on variable rate	[18],[19],[22],[23],[35]						8.50%
Interest rate, floor	[18],[19],[22],[23],[35]						1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[18],[22],[23],[35]			$ 38,842
Fair Value, Ending Balance	[18],[22],[23],[35]						$ 38,842
Principal amount	[18],[22],[23],[35]						39,383
Investment, Identifier [Axis]: Cadence Aerospace, LLC, Senior Secured First Lien Debt, 11/14/2024 Maturity
Interest rate basis spread on variable rate	[15],[16],[17],[24]	6.50%		6.50%
Interest rate, floor	[15],[16],[17],[24]	1.00%		1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[15],[17],[24]	$ 12,627		$ 12,627
Principal amount	[15],[17],[21],[24]	12,642		12,642
Investment, Identifier [Axis]: Carestream Health Holdings Inc., Common Stock, Equity Securities
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[29],[30]			21,544
Fair Value, Ending Balance		20,716	[31],[32]	20,716	[31],[32]		21,544	[29],[30]
Investment, Identifier [Axis]: Carestream Health, Inc., First Lien Term Loan, Non-Controlled, Affiliated Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				7,539		0	0
Gross Additions Cost				2,895	[3]		7,596	[4]
Gross Reductions Cost				(115)	[5]		0	[6]
Net Unrealized Gain (Loss)				1,104			(57)
Fair Value, Ending Balance		$ 11,423		11,423			7,539
Net Realized Gain (Loss)				0			0
Interest Income				534	[7]		284	[8]
Dividend Income				0			$ 0
Fee income				$ 0
Investment, Identifier [Axis]: Carestream Health, Inc., Senior Secured First Lien Debt, 9/30/2027 Maturity
Interest rate basis spread on variable rate		7.50%	[15],[16],[31],[43]	7.50%	[15],[16],[31],[43]		7.50%	[18],[19],[29],[42]
Interest rate, floor		1.00%	[15],[16],[31],[43]	1.00%	[15],[16],[31],[43]		1.00%	[18],[19],[29],[42]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[18],[29],[42]			$ 7,539
Fair Value, Ending Balance		$ 11,423	[15],[31],[43]	11,423	[15],[31],[43]		$ 7,539	[18],[29],[42]
Principal amount		11,481	[15],[21],[31],[43]	11,481	[15],[21],[31],[43]		7,596	[18],[29],[42]
Investment, Identifier [Axis]: Carestream, Common Shares, Non-Controlled, Affiliated Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				21,544		0	0
Gross Additions Cost				0	[3]		21,758	[4]
Gross Reductions Cost				0	[5]		0	[6]
Net Unrealized Gain (Loss)				(828)			(214)
Fair Value, Ending Balance		$ 20,716		20,716			21,544
Net Realized Gain (Loss)				0			0
Interest Income				0	[7]		0	[8]
Dividend Income				0			$ 0
Fee income				$ 0
Investment, Identifier [Axis]: Celerity Acquisition Holdings, LLC, Senior Secured First Lien Debt, 5/28/2026 Maturity
Interest rate basis spread on variable rate		8.50%	[16],[17],[24]	8.50%	[16],[17],[24]		8.50%	[19],[22],[23]
Interest rate, floor		1.00%	[16],[17],[24]	1.00%	[16],[17],[24]		1.00%	[19],[22],[23]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[23]			$ 14,590
Fair Value, Ending Balance		$ 16,000	[17],[24]	16,000	[17],[24]		$ 14,590	[22],[23]
Principal amount		$ 16,000	[17],[21],[24]	$ 16,000	[17],[21],[24]		$ 14,775	[22],[23]
Investment, Identifier [Axis]: Cennox, Inc., Senior Secured First Lien Debt, 11/22/2023 Maturity, 4
Interest rate, unfunded	[16]	1.00%		1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance		$ (27)		$ (27)
Principal amount	[21]	$ 7,193		$ 7,193
Investment, Identifier [Axis]: Cennox, Inc., Senior Secured First Lien Debt, 5/4/2026 Maturity, 1
Interest rate basis spread on variable rate		6.00%	[16],[17],[24]	6.00%	[16],[17],[24]		6.00%	[19],[22],[23]
Interest rate, floor		1.00%	[16],[17],[24]	1.00%	[16],[17],[24]		1.00%	[19],[22],[23]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[23]			$ 22,425
Fair Value, Ending Balance		$ 22,371	[17],[24]	22,371	[17],[24]		$ 22,425	[22],[23]
Principal amount		$ 22,455	[17],[21],[24]	$ 22,455	[17],[21],[24]		$ 22,509	[22],[23]
Investment, Identifier [Axis]: Cennox, Inc., Senior Secured First Lien Debt, 5/4/2026 Maturity, 2
Interest rate basis spread on variable rate		6.00%	[15],[16],[17],[24]	6.00%	[15],[16],[17],[24]		6.00%	[18],[19],[23]
Interest rate, floor		1.00%	[15],[16],[17],[24]	1.00%	[15],[16],[17],[24]		1.00%	[18],[19],[23]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[18],[23]			$ 11,743
Fair Value, Ending Balance		$ 11,509	[15],[17],[24]	11,509	[15],[17],[24]		$ 11,743	[18],[23]
Principal amount		$ 11,552	[15],[17],[21],[24]	$ 11,552	[15],[17],[21],[24]		$ 11,787	[18],[23]
Investment, Identifier [Axis]: Cennox, Inc., Senior Secured First Lien Debt, 5/4/2026 Maturity, 3
Interest rate basis spread on variable rate		6.00%	[16],[17]	6.00%	[16],[17]		6.00%	[19]
Interest rate, floor		1.00%	[16],[17]	1.00%	[16],[17]		1.00%	[19]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ 2,604
Fair Value, Ending Balance		$ 2,976	[17]	2,976	[17]		$ 2,604
Principal amount		$ 2,987	[17],[21]	2,987	[17],[21]		$ 2,614
Investment, Identifier [Axis]: Cennox, Inc., Senior Secured First Lien Debt, 5/4/2026 Maturity, 5
Interest rate, unfunded	[19]						0.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				(1)
Fair Value, Ending Balance							$ (1)
Principal amount							$ 373
Investment, Identifier [Axis]: Cennox, Inc., Senior Secured First Lien Debt, 8/11/2023 Maturity, 4
Interest rate, unfunded	[19]						1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				(27)
Fair Value, Ending Balance							$ (27)
Principal amount							7,193
Investment, Identifier [Axis]: Charming Charlie, LLC, Vendor Payment Financing Facility, Non-Controlled, Affiliated Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ 0		350	350
Gross Additions Cost	[4]						0
Gross Reductions Cost	[6]						(657)
Net Unrealized Gain (Loss)							307
Fair Value, Ending Balance							0
Net Realized Gain (Loss)							(657)
Interest Income	[8]						26
Dividend Income							$ 0
Investment, Identifier [Axis]: CircusTrix Holdings, LLC., Senior Secured First Lien Debt, 1/16/2024 Maturity, 1
Interest rate basis spread on variable rate		5.50%	[15],[16],[24],[43]	5.50%	[15],[16],[24],[43]		5.50%	[18],[19],[22],[37]
Interest rate, floor		1.00%	[15],[16],[24],[43]	1.00%	[15],[16],[24],[43]		1.00%	[18],[19],[22],[37]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[18],[22],[37]			$ 26,824
Fair Value, Ending Balance		$ 26,702	[15],[24],[43]	26,702	[15],[24],[43]		$ 26,824	[18],[22],[37]
Principal amount		$ 26,702	[15],[21],[24],[43]	$ 26,702	[15],[21],[24],[43]		$ 26,824	[18],[22],[37]
Investment, Identifier [Axis]: CircusTrix Holdings, LLC., Senior Secured First Lien Debt, 1/16/2024 Maturity, 2
Interest rate basis spread on variable rate		5.50%	[16],[24],[43]	5.50%	[16],[24],[43]		5.50%	[19],[22],[37]
Interest rate, floor		1.00%	[16],[24],[43]	1.00%	[16],[24],[43]		1.00%	[19],[22],[37]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[37]			$ 2,737
Fair Value, Ending Balance		$ 2,719	[24],[43]	2,719	[24],[43]		$ 2,737	[22],[37]
Principal amount		$ 2,719	[21],[24],[43]	2,719	[21],[24],[43]		$ 2,737	[22],[37]
Investment, Identifier [Axis]: CircusTrix Holdings, LLC., Senior Secured First Lien Debt, 1/16/2024 Maturity, 3
Interest rate basis spread on variable rate	[19],[22],[37]						5.50%
Interest rate, floor	[19],[22],[37]						1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[37]			$ 1,862
Fair Value, Ending Balance	[22],[37]						$ 1,862
Principal amount	[22],[37]						$ 1,560
Investment, Identifier [Axis]: CircusTrix Holdings, LLC., Senior Secured First Lien Debt, 7/16/2023 Maturity, 3
Interest rate basis spread on variable rate	[16],[24],[43]	5.50%		5.50%
Interest rate, floor	[16],[24],[43]	1.00%		1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[24],[43]	$ 902		$ 902
Principal amount	[21],[24],[43]	$ 753		$ 753
Investment, Identifier [Axis]: Community Tree Service, LLC., Senior Secured First Lien Debt, 6/17/2027 Maturity
Interest rate basis spread on variable rate		11.00%	[16],[17],[24]	11.00%	[16],[17],[24]		8.50%	[19],[20]
Interest rate, floor		1.00%	[16],[17],[24]	1.00%	[16],[17],[24]		1.00%	[19],[20]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[20]			$ 12,219
Fair Value, Ending Balance		$ 11,312	[17],[24]	11,312	[17],[24]		$ 12,219	[20]
Principal amount		$ 11,513	[17],[21],[24]	$ 11,513	[17],[21],[24]		$ 12,469	[20]
Investment, Identifier [Axis]: Country Fresh Holdings, LLC., Senior Secured First Lien Debt, 4/29/2023 Maturity, 1
Interest rate basis spread on variable rate		6.00%	[16],[34],[41]	6.00%	[16],[34],[41]		5.00%	[19],[23],[40]
Interest rate, floor		1.00%	[16],[34],[41]	1.00%	[16],[34],[41]		1.00%	[19],[23],[40]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[23],[40]			$ 92
Fair Value, Ending Balance		$ 60	[34],[41]	60	[34],[41]		$ 92	[23],[40]
Principal amount		$ 844	[21],[34],[41]	$ 844	[21],[34],[41]		$ 877	[23],[40]
Investment, Identifier [Axis]: Country Fresh Holdings, LLC., Senior Secured First Lien Debt, 4/29/2023 Maturity, 2
Interest rate basis spread on variable rate		6.00%	[16],[34],[41]	6.00%	[16],[34],[41]		5.00%	[19],[23],[40]
Interest rate, floor		1.00%	[16],[34],[41]	1.00%	[16],[34],[41]		1.00%	[19],[23],[40]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[23],[40]			$ 37
Fair Value, Ending Balance		$ 24	[34],[41]	24	[34],[41]		$ 37	[23],[40]
Principal amount		$ 342	[21],[34],[41]	$ 342	[21],[34],[41]		$ 355	[23],[40]
Investment, Identifier [Axis]: Coyote Buyer, LLC., Senior Secured First Lien Debt, 2/6/2025 Maturity, 1
Interest rate basis spread on variable rate		6.00%	[15],[16],[17],[24]	6.00%	[15],[16],[17],[24]		6.00%	[18],[19],[22],[23]
Interest rate, floor		1.00%	[15],[16],[17],[24]	1.00%	[15],[16],[17],[24]		1.00%	[18],[19],[22],[23]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[18],[22],[23]			$ 33,612
Fair Value, Ending Balance		$ 33,524	[15],[17],[24]	33,524	[15],[17],[24]		$ 33,612	[18],[22],[23]
Principal amount		$ 33,863	[15],[17],[21],[24]	$ 33,863	[15],[17],[21],[24]		$ 34,038	[18],[22],[23]
Investment, Identifier [Axis]: Coyote Buyer, LLC., Senior Secured First Lien Debt, 2/6/2025 Maturity, 2
Interest rate basis spread on variable rate		6.00%	[16],[17]	6.00%	[16],[17]		8.00%	[18],[19],[23]
Interest rate, floor		1.00%	[16],[17]	1.00%	[16],[17]		1.00%	[18],[19],[23]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[18],[23]			$ 6,125
Fair Value, Ending Balance		$ 990	[17]	990	[17]		$ 6,125	[18],[23]
Principal amount		$ 1,000	[17],[21]	$ 1,000	[17],[21]		$ 6,125	[18],[23]
Investment, Identifier [Axis]: Coyote Buyer, LLC., Senior Secured First Lien Debt, 2/6/2025 Maturity, 3
Interest rate, unfunded		0.50%	[16]	0.50%	[16]		0.50%	[19]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ (31)
Fair Value, Ending Balance		$ (15)		(15)			$ (31)
Principal amount		$ 1,500	[21]	$ 1,500	[21]		$ 2,500
Investment, Identifier [Axis]: Coyote Buyer, LLC., Senior Secured First Lien Debt, 8/6/2026 Maturity
Interest rate basis spread on variable rate	[15],[16],[17]	8.00%		8.00%
Interest rate, floor	[15],[16],[17]	1.00%		1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[15],[17]	$ 6,094		$ 6,094
Principal amount	[15],[17],[21]	$ 6,094		$ 6,094
Investment, Identifier [Axis]: Critical Nurse Staffing, LLC., Senior Secured First Lien Debt, 11/1/2026 Maturity, 1
Interest rate basis spread on variable rate		5.75%	[16],[17],[24]	5.75%	[16],[17],[24]		6.00%	[19],[22],[23]
Interest rate, floor		1.00%	[16],[17],[24]	1.00%	[16],[17],[24]		1.00%	[19],[22],[23]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[23]			$ 12,928
Fair Value, Ending Balance		$ 12,863	[17],[24]	12,863	[17],[24]		$ 12,928	[22],[23]
Principal amount		$ 12,863	[17],[21],[24]	$ 12,863	[17],[21],[24]		$ 12,928	[22],[23]
Investment, Identifier [Axis]: Critical Nurse Staffing, LLC., Senior Secured First Lien Debt, 11/1/2026 Maturity, 2
Interest rate basis spread on variable rate		5.75%	[16],[17],[24]	5.75%	[16],[17],[24]		6.00%	[19],[23]
Interest rate, floor		1.00%	[16],[17],[24]	1.00%	[16],[17],[24]		1.00%	[19],[23]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[23]			$ 999
Fair Value, Ending Balance		$ 994	[17],[24]	994	[17],[24]		$ 999	[23]
Principal amount		$ 994	[17],[21],[24]	$ 994	[17],[21],[24]		$ 999	[23]
Investment, Identifier [Axis]: Critical Nurse Staffing, LLC., Senior Secured First Lien Debt, 11/1/2026 Maturity, 3
Interest rate basis spread on variable rate		5.75%	[16],[17]	5.75%	[16],[17]		6.00%	[19],[37]
Interest rate, floor		1.00%	[16],[17]	1.00%	[16],[17]		1.00%	[19],[37]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[37]			$ 300
Fair Value, Ending Balance		$ 460	[17]	460	[17]		$ 300	[37]
Principal amount		$ 460	[17],[21]	$ 460	[17],[21]		$ 300	[37]
Investment, Identifier [Axis]: Critical Nurse Staffing, LLC., Senior Secured First Lien Debt, 11/1/2026 Maturity, 4
Interest rate, unfunded		1.00%	[16]	1.00%	[16]		1.00%	[19]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ 0
Fair Value, Ending Balance		$ 0		0			$ 0
Principal amount		$ 4,899	[21]	$ 4,899	[21]		$ 4,899
Investment, Identifier [Axis]: Critical Nurse Staffing, LLC., Senior Secured First Lien Debt, 11/1/2026 Maturity, 5
Interest rate, unfunded		0.50%	[16]	0.50%	[16]		0.50%	[19]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ 0
Fair Value, Ending Balance		$ 0		0			$ 0
Principal amount		540	[21]	540	[21]		700
Investment, Identifier [Axis]: DBI Investors, Inc., Common Stock., Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[30]			0
Fair Value, Ending Balance		0	[32]	0	[32]		0	[30]
Investment, Identifier [Axis]: DBI Investors, Inc., Reallocation Rights., Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[30]			0
Fair Value, Ending Balance		0	[32]	0	[32]		0	[30]
Investment, Identifier [Axis]: DBI Investors, Inc., Series A Preferred Stock., Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[30]			2
Fair Value, Ending Balance		0	[32]	0	[32]		2	[30]
Investment, Identifier [Axis]: DBI Investors, Inc., Series A1 Preferred Stock., Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[30]			28
Fair Value, Ending Balance		0	[32]	0	[32]		28	[30]
Investment, Identifier [Axis]: DBI Investors, Inc., Series A2 Preferred Stock., Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[30]			2
Fair Value, Ending Balance		0	[32]	0	[32]		2	[30]
Investment, Identifier [Axis]: DBI Investors, Inc., Series B Preferred Stock., Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[30]			2
Fair Value, Ending Balance		0	[32]	0	[32]		2	[30]
Investment, Identifier [Axis]: DESG Holdings, Inc., First Lien Term Loan, Non-Controlled, Affiliated Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				246		1,787	1,787
Gross Additions Cost				0	[3]		0	[4]
Gross Reductions Cost				(82)	[5]		(306)	[6]
Net Unrealized Gain (Loss)				(34)			(1,235)
Fair Value, Ending Balance		$ 130		130			246
Net Realized Gain (Loss)				0			0
Interest Income				0	[7]		5	[8]
Dividend Income				0			0
Fee income				0
Investment, Identifier [Axis]: DESG Holdings, Inc., Second Lien Term Loan, Non-Controlled, Affiliated Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ 0		0	0
Gross Additions Cost	[4]						0
Gross Reductions Cost	[6]						(10,017)
Net Unrealized Gain (Loss)							10,017
Fair Value, Ending Balance							0
Net Realized Gain (Loss)							(10,017)
Interest Income	[8]						0
Dividend Income							$ 0
Investment, Identifier [Axis]: DMT Solutions Global Corp., Senior Secured First Lien Debt, 7/2/2024 Maturity
Interest rate basis spread on variable rate		7.50%	[15],[16],[46]	7.50%	[15],[16],[46]		7.50%	[18],[19],[47]
Interest rate, floor		1.00%	[15],[16],[46]	1.00%	[15],[16],[46]		1.00%	[18],[19],[47]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[18],[47]			$ 3,766
Fair Value, Ending Balance		$ 3,808	[15],[46]	3,808	[15],[46]		$ 3,766	[18],[47]
Principal amount		3,846	[15],[21],[46]	3,846	[15],[21],[46]		3,974	[18],[47]
Investment, Identifier [Axis]: DMT Solutions Global Corp., Senior Secured First Lien Debt, 7/2/2024 Maturity, 3 Month LIBOR
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Principal amount		1,750		1,750			2,096
Investment, Identifier [Axis]: DMT Solutions Global Corp., Senior Secured First Lien Debt, 7/2/2024 Maturity, 6 Month LIBOR
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Principal amount		$ 2,096		$ 2,096			$ 1,943
Investment, Identifier [Axis]: David's Bridal, LLC 1, Senior Secured First Lien Debt
Interest rate		19.25%		19.25%			14.28%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash		14.25%		14.25%			9.28%
PIK		5.00%		5.00%			5.00%
All-in-Rate		19.25%		19.25%			14.28%
Investment, Identifier [Axis]: David's Bridal, LLC 2, Senior Secured First Lien Debt
Interest rate		15.54%		15.54%			10.42%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash		10.54%		10.54%			1.00%
PIK		5.00%		5.00%			9.42%
All-in-Rate		15.54%		15.54%			10.42%
Investment, Identifier [Axis]: David's Bridal, LLC 3, Senior Secured First Lien Debt
Interest rate		12.54%		12.54%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash		1.00%		1.00%
PIK		11.54%		11.54%
All-in-Rate		12.54%		12.54%
Investment, Identifier [Axis]: David's Bridal, LLC., Senior Secured First Lien Debt, 12/23/2024 Maturity, 1
Interest rate basis spread on variable rate	[16],[33],[34],[41],[48]	10.00%		10.00%
Interest rate, floor	[16],[33],[34],[41],[48]	1.00%		1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[33],[34],[41],[48]	$ 0		$ 0
Principal amount	[21],[33],[34],[41],[48]	$ 6,014		$ 6,014
Investment, Identifier [Axis]: David's Bridal, LLC., Senior Secured First Lien Debt, 12/31/2024 Maturity, 2
Interest rate basis spread on variable rate	[16],[33],[34],[41],[48]	7.00%		7.00%
Interest rate, floor	[16],[33],[34],[41],[48]	1.00%		1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[33],[34],[41],[48]	$ 0		$ 0
Principal amount	[21],[33],[34],[41],[48]	$ 865		865
Investment, Identifier [Axis]: David's Bridal, LLC., Senior Secured First Lien Debt, 12/31/2024 Maturity, 4
Interest rate basis spread on variable rate	[19],[35],[37],[40]						7.00%
Interest rate, floor	[19],[35],[37],[40]						1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[35],[37],[40]			$ 51
Fair Value, Ending Balance	[35],[37],[40]						$ 51
Principal amount	[35],[37],[40]						$ 845
Investment, Identifier [Axis]: David's Bridal, LLC., Senior Secured First Lien Debt, 5/23/2024 Maturity, 1
Interest rate basis spread on variable rate		11.00%	[16],[24],[33],[34],[41],[48]	11.00%	[16],[24],[33],[34],[41],[48]		10.00%	[19],[22],[23],[35]
Interest rate, floor	[19],[22],[23],[35]						1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[23],[35]			$ 13,130
Fair Value, Ending Balance		$ 10,798	[24],[33],[34],[41],[48]	10,798	[24],[33],[34],[41],[48]		$ 13,130	[22],[23],[35]
Principal amount		$ 13,331	[21],[24],[33],[34],[41],[48]	$ 13,331	[21],[24],[33],[34],[41],[48]		$ 13,000	[22],[23],[35]
Investment, Identifier [Axis]: David's Bridal, LLC., Senior Secured First Lien Debt, 5/23/2024 Maturity, 2
Interest rate basis spread on variable rate		11.00%	[16],[24],[33],[34],[41],[48]	11.00%	[16],[24],[33],[34],[41],[48]		10.00%	[19],[23],[35]
Interest rate, floor	[19],[23],[35]						1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[23],[35]			$ 5,210
Fair Value, Ending Balance		$ 4,448	[24],[33],[34],[41],[48]	4,448	[24],[33],[34],[41],[48]		$ 5,210	[23],[35]
Principal amount		5,491	[21],[24],[33],[34],[41],[48]	5,491	[21],[24],[33],[34],[41],[48]		$ 5,357	[23],[35]
Investment, Identifier [Axis]: David's Bridal, LLC., Senior Secured First Lien Debt, 5/23/2024 Maturity, 3
Interest rate basis spread on variable rate	[19],[23],[35]						10.00%
Interest rate, floor	[19],[23],[35]						1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[23],[35]			2,256
Fair Value, Ending Balance	[23],[35]						$ 2,256
Principal amount	[23],[35]						5,936
Investment, Identifier [Axis]: Delayed Draw First Lien Term Loan, Non-Controlled, Affiliated Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				156
Gross Additions Cost	[3]			6
Gross Reductions Cost	[5]			(162)
Net Unrealized Gain (Loss)				0
Fair Value, Ending Balance		$ 0		0			$ 156
Net Realized Gain (Loss)				0
Interest Income	[7]			10
Dividend Income				0
Fee income				$ 0
Investment, Identifier [Axis]: Deluxe Entertainment Services, Inc., Senior Secured First Lien Debt
Interest rate		12.04%		12.04%			11.23%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash		10.54%		10.54%			9.73%
PIK		1.50%		1.50%			1.50%
All-in-Rate		12.04%		12.04%			11.23%
Investment, Identifier [Axis]: Deluxe Entertainment Services, Inc., Senior Secured First Lien Debt, 3/25/2024 Maturity
Interest rate basis spread on variable rate		6.50%	[16],[24],[31],[33],[34],[41]	6.50%	[16],[24],[31],[33],[34],[41]		6.50%	[19],[22],[23],[29],[35],[40]
Interest rate, floor		1.00%	[16],[24],[31],[33],[34],[41]	1.00%	[16],[24],[31],[33],[34],[41]		1.00%	[19],[22],[23],[29],[35],[40]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[23],[29],[35],[40]			$ 246
Fair Value, Ending Balance		$ 130	[24],[31],[33],[34],[41]	130	[24],[31],[33],[34],[41]		$ 246	[22],[23],[29],[35],[40]
Principal amount		$ 2,603	[21],[24],[31],[33],[34],[41]	$ 2,603	[21],[24],[31],[33],[34],[41]		$ 2,664	[22],[23],[29],[35],[40]
Investment, Identifier [Axis]: Dermcare Management, LLC., Senior Secured First Lien Debt, 10/22/2023 Maturity, 4
Interest rate, unfunded		0.50%	[16]	0.50%	[16]		0.50%	[19]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ (4)
Fair Value, Ending Balance		$ 0		0			$ (4)
Principal amount		$ 698	[21]	$ 698	[21]		$ 698
Investment, Identifier [Axis]: Dermcare Management, LLC., Senior Secured First Lien Debt, 4/22/2028 Maturity, 1
Interest rate basis spread on variable rate		6.00%	[16],[24],[43]	6.00%	[16],[24],[43]		6.00%	[19],[22],[42]
Interest rate, floor		1.00%	[16],[24],[43]	1.00%	[16],[24],[43]		1.00%	[19],[22],[42]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[42]			$ 9,297
Fair Value, Ending Balance		$ 9,309	[24],[43]	9,309	[24],[43]		$ 9,297	[22],[42]
Principal amount		$ 9,309	[21],[24],[43]	$ 9,309	[21],[24],[43]		$ 9,356	[22],[42]
Investment, Identifier [Axis]: Dermcare Management, LLC., Senior Secured First Lien Debt, 4/22/2028 Maturity, 2
Interest rate basis spread on variable rate		6.00%	[16],[24],[43]	6.00%	[16],[24],[43]		6.00%	[19],[42]
Interest rate, floor		1.00%	[16],[24],[43]	1.00%	[16],[24],[43]		1.00%	[19],[42]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[42]			$ 3,518
Fair Value, Ending Balance		$ 3,523	[24],[43]	3,523	[24],[43]		$ 3,518	[42]
Principal amount		$ 3,523	[21],[24],[43]	$ 3,523	[21],[24],[43]		$ 3,540	[42]
Investment, Identifier [Axis]: Dermcare Management, LLC., Senior Secured First Lien Debt, 4/22/2028 Maturity, 3
Interest rate basis spread on variable rate		6.00%	[16]	6.00%	[16]		5.00%	[19]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ 178
Fair Value, Ending Balance		$ 358		358			$ 178
Principal amount		$ 358	[21]	$ 358	[21]		$ 179
Investment, Identifier [Axis]: Dermcare Management, LLC., Senior Secured First Lien Debt, 4/22/2028 Maturity, 5
Interest rate, unfunded		0.50%	[16]	0.50%	[16]		0.50%	[19]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ (7)
Fair Value, Ending Balance		$ 0		0			$ (7)
Principal amount		$ 985	[21]	$ 985	[21]		$ 1,164
Investment, Identifier [Axis]: Emerald Technologies (U.S.) Acquisitionco, Inc.., Senior Secured First Lien Debt, 12/29/2027 Maturity
Interest rate basis spread on variable rate		6.25%	[15],[16],[43]	6.25%	[15],[16],[43]		6.25%	[18],[19],[42]
Interest rate, floor		1.00%	[15],[16],[43]	1.00%	[15],[16],[43]		1.00%	[18],[19],[42]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[18],[42]			$ 2,794
Fair Value, Ending Balance		$ 2,805	[15],[43]	2,805	[15],[43]		$ 2,794	[18],[42]
Principal amount		$ 2,906	[15],[21],[43]	$ 2,906	[15],[21],[43]		$ 2,944	[18],[42]
Investment, Identifier [Axis]: Entertainment Studios P&A LLC., Senior Secured First Lien Debt, 5/18/2037 Maturity
Interest rate	[16],[49]	5.00%		5.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[49]	$ 1,045		$ 1,045
All-in-Rate	[16],[49]	5.00%		5.00%
Principal amount	[21],[49]	$ 0		$ 0
Investment, Identifier [Axis]: Entertainment Studios P&A LLC., Senior Secured First Lien Debt, 5/18/2037 Maturity, 1
Interest rate, unfunded	[19],[50]						5.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[50]			$ 1,654
Fair Value, Ending Balance	[50]						$ 1,654
Principal amount	[50]						$ 0
Investment, Identifier [Axis]: Entertainment Studios P&A LLC., Senior Secured First Lien Debt, 9/28/2027 Maturity
Interest rate, floor	[16],[17],[24]	1.00%		1.00%
Interest rate	[16],[17],[24]	8.50%		8.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[17],[24]	$ 23,049		$ 23,049
All-in-Rate	[16],[17],[24]	8.50%		8.50%
Principal amount	[17],[21],[24]	$ 23,049		$ 23,049
Investment, Identifier [Axis]: Entertainment Studios P&A LLC., Senior Secured First Lien Debt, 9/28/2027 Maturity, 2
Interest rate, floor	[19],[20],[22],[23]						1.00%
Interest rate	[19],[20],[22],[23]						8.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[20],[22],[23]			23,940
Fair Value, Ending Balance	[20],[22],[23]						$ 23,940
All-in-Rate	[19],[20],[22],[23]						8.50%
Principal amount	[20],[22],[23]						$ 24,000
Investment, Identifier [Axis]: FWS Parent Holdings, LLC, Class A Membership Interests, Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[32]	467		467
Investment, Identifier [Axis]: FWS Parent Holdings, LLC. Class A Membership Interests, Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[30]			742
Fair Value, Ending Balance	[30]						$ 742
Investment, Identifier [Axis]: First American Treasury Obligations Fund, Class Z Shares
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance		$ 1,443		$ 1,443
Investment, Identifier [Axis]: First American Treasury Obligations Fund, Class Z Shares, Short Term Investments
Interest rate	[51]	4.99%		4.99%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance		$ 100,771		$ 100,771
All-in-Rate	[51]	4.99%		4.99%
Investment, Identifier [Axis]: First American Treasury Obligations Fund., Short Term Investments
Interest rate	[52]						3.95%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ 10,869
Fair Value, Ending Balance							$ 10,869
All-in-Rate	[52]						3.95%
Investment, Identifier [Axis]: Flatworld Intermediate Corp., Senior Secured First Lien Debt, 10/3/2027 Maturity, 1
Interest rate basis spread on variable rate	[18],[19],[42]						6.00%
Interest rate, floor	[18],[19],[42]						1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[18],[42]			25,135
Fair Value, Ending Balance	[18],[42]						$ 25,135
Principal amount	[18],[42]						$ 25,135
Investment, Identifier [Axis]: Flatworld Intermediate Corp., Senior Secured First Lien Debt, 10/3/2027 Maturity, 2
Interest rate, unfunded	[19]						0.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ 0
Fair Value, Ending Balance							$ 0
Principal amount							$ 5,865
Investment, Identifier [Axis]: Flatworld Intermediate Corp.., Senior Secured First Lien Debt, 10/3/2027 Maturity, 1
Interest rate basis spread on variable rate	[15],[16],[17]	6.50%		6.50%
Interest rate, floor	[15],[16],[17]	1.00%		1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[15],[17]	$ 25,197		$ 25,197
Principal amount	[15],[17],[21]	$ 25,009		$ 25,009
Investment, Identifier [Axis]: Flatworld Intermediate Corp.., Senior Secured First Lien Debt, 10/3/2027 Maturity, 2
Interest rate, unfunded	[16]	0.50%		0.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance		$ 44		$ 44
Principal amount	[21]	$ 5,865		$ 5,865
Investment, Identifier [Axis]: Florida Food Products, LLC, 10/18/2028 Maturity
Interest rate basis spread on variable rate	[16]	5.00%		5.00%
Interest rate, floor	[16]	0.75%		0.75%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance		$ 1,930		$ 1,930
Principal amount	[21]	$ 2,244		$ 2,244
Investment, Identifier [Axis]: FuseFX, LLC., Senior Secured First Lien Debt, 10/1/2024 Maturity
Interest rate basis spread on variable rate		6.00%	[15],[16],[17],[24]	6.00%	[15],[16],[17],[24]		5.75%	[18],[19],[22],[37]
Interest rate, floor		1.00%	[15],[16],[17],[24]	1.00%	[15],[16],[17],[24]		1.00%	[18],[19],[22],[37]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[18],[22],[37]			$ 19,647
Fair Value, Ending Balance		$ 19,398	[15],[17],[24]	19,398	[15],[17],[24]		$ 19,647	[18],[22],[37]
Principal amount		$ 19,693	[15],[17],[21],[24]	$ 19,693	[15],[17],[21],[24]		$ 19,795	[18],[22],[37]
Investment, Identifier [Axis]: Fusion Connect Inc., Senior Secured First Lien Debt
Interest rate		13.86%		13.86%			12.69%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash		12.86%		12.86%			11.69%
PIK		1.00%		1.00%			1.00%
All-in-Rate		13.86%		13.86%			12.69%
Investment, Identifier [Axis]: Fusion Connect Inc., Senior Secured First Lien Debt, 1/18/2027 Maturity
Interest rate basis spread on variable rate		8.50%	[16],[17],[24],[33]	8.50%	[16],[17],[24],[33]		8.50%	[19],[22],[23],[35]
Interest rate, floor		1.00%	[16],[17],[24],[33]	1.00%	[16],[17],[24],[33]		1.00%	[19],[22],[23],[35]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[23],[35]			$ 19,626
Fair Value, Ending Balance		$ 19,540	[17],[24],[33]	19,540	[17],[24],[33]		$ 19,626	[22],[23],[35]
Principal amount		$ 19,540	[17],[21],[24],[33]	$ 19,540	[17],[21],[24],[33]		$ 19,626	[22],[23],[35]
Investment, Identifier [Axis]: Future Pak, LLC., Senior Secured First Lien Debt, 7/2/2024 Maturity
Interest rate basis spread on variable rate		10.00%	[16],[24],[43]	10.00%	[16],[24],[43]		10.00%	[19],[22],[37]
Interest rate, floor		2.00%	[16],[24],[43]	2.00%	[16],[24],[43]		2.00%	[19],[22],[37]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[37]			$ 23,776
Fair Value, Ending Balance		$ 20,128	[24],[43]	20,128	[24],[43]		$ 23,776	[22],[37]
Principal amount		$ 20,128	[21],[24],[43]	$ 20,128	[21],[24],[43]		$ 24,169	[22],[37]
Investment, Identifier [Axis]: GSC Technologies Inc., 1, Senior Secured First Lien Debt
Interest rate		10.23%		10.23%			9.12%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash		0.00%		0.00%			0.00%
PIK		10.23%		10.23%			9.12%
All-in-Rate		10.23%		10.23%			9.12%
Investment, Identifier [Axis]: GSC Technologies Inc., 2, Senior Secured First Lien Debt
Interest rate							14.37%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash							9.37%
PIK							5.00%
All-in-Rate							14.37%
Investment, Identifier [Axis]: GSC Technologies Inc., Common Shares, Non-Controlled, Affiliated Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ 0		0	$ 0
Gross Additions Cost				0	[3]		0	[4]
Gross Reductions Cost				0	[5]		0	[6]
Net Unrealized Gain (Loss)				0			0
Fair Value, Ending Balance		$ 0		0			0
Net Realized Gain (Loss)				0			0
Interest Income				0	[7]		0	[8]
Dividend Income				0			0
Fee income				0
Investment, Identifier [Axis]: GSC Technologies Inc., Common Shares., Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[29],[30]			0
Fair Value, Ending Balance		0	[31],[32]	0	[31],[32]		0	[29],[30]
Investment, Identifier [Axis]: GSC Technologies Inc., First Lien Term Loan A, Non-Controlled, Affiliated Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				2,064		2,001	2,001
Gross Additions Cost				14	[3]		26	[4]
Gross Reductions Cost				0	[5]		0	[6]
Net Unrealized Gain (Loss)				49			37
Fair Value, Ending Balance		2,127		2,127			2,064
Net Realized Gain (Loss)				0			0
Interest Income				136	[7]		193	[8]
Dividend Income				0			0
Fee income				0
Investment, Identifier [Axis]: GSC Technologies Inc., First Lien Term Loan B, Non-Controlled, Affiliated Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				388		485	485
Gross Additions Cost				48	[3]		67	[4]
Gross Reductions Cost				0	[5]		0	[6]
Net Unrealized Gain (Loss)				258			(164)
Fair Value, Ending Balance		694		694			388
Net Realized Gain (Loss)				0			0
Interest Income				53	[7]		72	[8]
Dividend Income				0			0
Fee income				0
Investment, Identifier [Axis]: GSC Technologies Inc., Incremental Term Loan, Non-Controlled, Affiliated Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				154		170	170
Gross Additions Cost				6	[3]		8	[4]
Gross Reductions Cost				(160)	[5]		(24)	[6]
Net Unrealized Gain (Loss)				0			0
Fair Value, Ending Balance		$ 0		0			154
Net Realized Gain (Loss)				0			0
Interest Income				11	[7]		22	[8]
Dividend Income				0			$ 0
Fee income				$ 0
Investment, Identifier [Axis]: GSC Technologies Inc., Senior Secured First Lien Debt, 9/30/2025 Maturity, 1
Interest rate basis spread on variable rate		5.00%	[16],[31],[43]	5.00%	[16],[31],[43]		5.00%	[19],[29],[37]
Interest rate, floor		1.00%	[16],[31],[43]	1.00%	[16],[31],[43]		1.00%	[19],[29],[37]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[29],[37]			$ 2,064
Fair Value, Ending Balance		$ 2,127	[31],[43]	2,127	[31],[43]		$ 2,064	[29],[37]
Principal amount		$ 2,404	[21],[31],[43]	$ 2,404	[21],[31],[43]		$ 2,404	[29],[37]
Investment, Identifier [Axis]: GSC Technologies Inc., Senior Secured First Lien Debt, 9/30/2025 Maturity, 2
Interest rate basis spread on variable rate		5.00%	[16],[31],[33],[43]	5.00%	[16],[31],[33],[43]		5.00%	[19],[29],[35],[37]
Interest rate, floor		1.00%	[16],[31],[33],[43]	1.00%	[16],[31],[33],[43]		1.00%	[19],[29],[35],[37]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[29],[35],[37]			$ 388
Fair Value, Ending Balance		$ 694	[31],[33],[43]	694	[31],[33],[43]		$ 388	[29],[35],[37]
Principal amount		$ 957	[21],[31],[33],[43]	957	[21],[31],[33],[43]		$ 915	[29],[35],[37]
Investment, Identifier [Axis]: GSC Technologies Inc., Senior Secured First Lien Debt, 9/30/2025 Maturity, 3
Interest rate basis spread on variable rate	[19],[23],[29],[35]						10.00%
Interest rate, floor	[19],[23],[29],[35]						1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[23],[29],[35]			$ 154
Fair Value, Ending Balance	[23],[29],[35]						$ 154
Principal amount	[23],[29],[35]						$ 154
Investment, Identifier [Axis]: Galaxy XV CLO Ltd. Class A Subordinated Notes., Collateralized Securities and Structured Products - Equity, 4/15/2025 Maturity
Investment estimated yield		19.30%	[16],[25],[26]	19.30%	[16],[25],[26]		19.30%	[27],[28]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[27],[28]			$ 1,108
Fair Value, Ending Balance		$ 1,033	[25],[26]	1,033	[25],[26]		$ 1,108	[27],[28]
Principal amount		$ 4,000	[21],[25],[26]	$ 4,000	[21],[25],[26]		$ 4,000	[27],[28]
Investment, Identifier [Axis]: Global Tel*Link Corp., Senior Secured Second Lien Debt, 11/29/2026 Maturity
Interest rate basis spread on variable rate		10.00%	[15],[16],[17]	10.00%	[15],[16],[17]		10.00%	[18],[19],[20]
Interest rate, floor		0.00%	[15],[16],[17]	0.00%	[15],[16],[17]		0.00%	[18],[19],[20]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[18],[20]			$ 11,414
Fair Value, Ending Balance		$ 11,428	[15],[17]	11,428	[15],[17]		$ 11,414	[18],[20]
Principal amount		$ 11,500	[15],[17],[21]	$ 11,500	[15],[17],[21]		$ 11,500	[18],[20]
Investment, Identifier [Axis]: Gold Medal Holdings, Inc., Senior Secured First Lien Debt, 3/17/2027 Maturity
Interest rate basis spread on variable rate		7.00%	[16],[17],[24]	7.00%	[16],[17],[24]		7.00%	[19],[20],[22]
Interest rate, floor		1.00%	[16],[17],[24]	1.00%	[16],[17],[24]		1.00%	[19],[20],[22]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[20],[22]			$ 14,575
Fair Value, Ending Balance		$ 14,722	[17],[24]	14,722	[17],[24]		$ 14,575	[20],[22]
Principal amount		$ 14,722	[17],[21],[24]	$ 14,722	[17],[21],[24]		$ 14,759	[20],[22]
Investment, Identifier [Axis]: H.W. Lochner, Inc., Senior Secured First Lien Debt, 7/2/2027 Maturity, 1
Interest rate basis spread on variable rate		6.75%	[16],[17],[24]	6.75%	[16],[17],[24]		5.75%	[19],[22],[23]
Interest rate, floor		1.00%	[16],[17],[24]	1.00%	[16],[17],[24]		1.00%	[19],[22],[23]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[23]			$ 8,850
Fair Value, Ending Balance		$ 10,463	[17],[24]	10,463	[17],[24]		$ 8,850	[22],[23]
Principal amount		$ 10,373	[17],[21],[24]	$ 10,373	[17],[21],[24]		$ 8,850	[22],[23]
Investment, Identifier [Axis]: H.W. Lochner, Inc., Senior Secured First Lien Debt, 7/2/2027 Maturity, 2
Interest rate basis spread on variable rate		6.25%	[16],[17],[24]	6.25%	[16],[17],[24]		6.75%	[19],[20],[22]
Interest rate, floor		1.00%	[16],[17],[24]	1.00%	[16],[17],[24]		1.00%	[19],[20],[22]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[20],[22]			$ 7,233
Fair Value, Ending Balance		$ 8,827	[17],[24]	8,827	[17],[24]		$ 7,233	[20],[22]
Principal amount		$ 8,805	[17],[21],[24]	$ 8,805	[17],[21],[24]		$ 7,457	[20],[22]
Investment, Identifier [Axis]: H.W. Lochner, Inc., Senior Secured First Lien Debt, 7/2/2027 Maturity, 3
Interest rate basis spread on variable rate		6.25%	[16],[17]	6.25%	[16],[17]		5.75%	[19],[23]
Interest rate, floor		1.00%	[16],[17]	1.00%	[16],[17]		1.00%	[19],[23]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[23]			$ 775
Fair Value, Ending Balance		$ 777	[17]	777	[17]		$ 775	[23]
Principal amount		$ 775	[17],[21]	$ 775	[17],[21]		$ 775	[23]
Investment, Identifier [Axis]: H.W. Lochner, Inc., Senior Secured First Lien Debt, 7/2/2027 Maturity, 4
Interest rate, unfunded		0.50%	[16]	0.50%	[16]		0.50%	[19]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ 0
Fair Value, Ending Balance		$ 1		1			$ 0
Principal amount		$ 225	[21]	$ 225	[21]		$ 225
Investment, Identifier [Axis]: HUMC Holdco, LLC., Senior Secured First Lien Debt, 11/4/2023 Maturity
Interest rate basis spread on variable rate	[19],[20],[22]						8.00%
Interest rate, floor		3.00%	[16],[24],[34]	3.00%	[16],[24],[34]		3.00%	[19],[20],[22]
Interest rate	[16],[24],[34]	8.00%		8.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[20],[22]			$ 7,933
Fair Value, Ending Balance		$ 7,805	[24],[34]	$ 7,805	[24],[34]		$ 7,933	[20],[22]
All-in-Rate	[16],[24],[34]	8.00%		8.00%
Principal amount		$ 7,805	[21],[24],[34]	$ 7,805	[21],[24],[34]		$ 7,933	[20],[22]
Investment, Identifier [Axis]: HW Acquisition, LLC., Senior Secured First Lien Debt, 9/28/2026 Maturity, 1
Interest rate basis spread on variable rate		5.00%	[16],[24]	5.00%	[16],[24]		5.00%	[19]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ 686
Fair Value, Ending Balance		$ 15,165	[24]	15,165	[24]		$ 686
Principal amount		$ 18,781	[21],[24]	$ 18,781	[21],[24]		$ 733
Investment, Identifier [Axis]: HW Acquisition, LLC., Senior Secured First Lien Debt, 9/28/2026 Maturity, 2
Interest rate basis spread on variable rate		5.00%	[16]	5.00%	[16]		5.00%	[19],[22]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22]			$ 17,649
Fair Value, Ending Balance		$ 592		592			$ 17,649	[22]
Principal amount		$ 733	[21]	$ 733	[21]		$ 18,876	[22]
Investment, Identifier [Axis]: HW Acquisition, LLC., Senior Secured First Lien Debt, 9/28/2026 Maturity, 3
Interest rate, unfunded		0.50%	[16]	0.50%	[16]		0.50%	[19]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ (143)
Fair Value, Ending Balance		$ (424)		(424)			$ (143)
Principal amount		$ 2,200	[21]	$ 2,200	[21]		$ 2,200
Investment, Identifier [Axis]: Harland Clarke Holdings Corp., Senior Secured First Lien Debt, 6/16/2026 Maturity
Interest rate basis spread on variable rate		7.75%	[16],[17],[24]	7.75%	[16],[17],[24]		7.75%	[19],[22],[23]
Interest rate, floor		1.00%	[16],[17],[24]	1.00%	[16],[17],[24]		1.00%	[19],[22],[23]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[23]			$ 7,625
Fair Value, Ending Balance		$ 8,727	[17],[24]	8,727	[17],[24]		$ 7,625	[22],[23]
Principal amount		$ 9,186	[17],[21],[24]	$ 9,186	[17],[21],[24]		$ 9,186	[22],[23]
Investment, Identifier [Axis]: Heritage Power, LLC., Senior Secured First Lien Debt, 7/30/2026 Maturity
Interest rate basis spread on variable rate		5.00%	[16]	5.00%	[16]		6.00%	[19],[23]
Interest rate, floor	[19],[23]						1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[23]			$ 4,527
Fair Value, Ending Balance		$ 3,794		3,794			$ 4,527	[23]
Principal amount		$ 8,622	[21]	$ 8,622	[21]		$ 8,622	[23]
Investment, Identifier [Axis]: Hilliard, Martinez & Gonzales, LLP, Senior Secured First Lien Debt
Interest rate		17.27%		17.27%			16.24%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash		0.00%		0.00%			0.00%
PIK		17.27%		17.27%			16.24%
All-in-Rate		17.27%		17.27%			16.24%
Investment, Identifier [Axis]: Hilliard, Martinez & Gonzales, LLP., Senior Secured First Lien Debt, 12/17/2023 Maturity
Interest rate basis spread on variable rate		12.00%	[16],[24],[33],[43]	12.00%	[16],[24],[33],[43]		12.00%	[19],[22],[35],[37]
Interest rate, floor		2.00%	[16],[24],[33],[43]	2.00%	[16],[24],[33],[43]		2.00%	[19],[22],[35],[37]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[35],[37]			$ 21,798
Fair Value, Ending Balance		$ 23,733	[24],[33],[43]	23,733	[24],[33],[43]		$ 21,798	[22],[35],[37]
Principal amount		$ 23,703	[21],[24],[33],[43]	$ 23,703	[21],[24],[33],[43]		$ 21,798	[22],[35],[37]
Investment, Identifier [Axis]: Hollander Intermediate LLC., Senior Secured First Lien Debt, 9/19/2026 Maturity
Interest rate basis spread on variable rate		8.75%	[16],[17],[24]	8.75%	[16],[17],[24]		8.75%	[19],[20],[22],[37]
Interest rate, floor		2.00%	[16],[17],[24]	2.00%	[16],[17],[24]		2.00%	[19],[20],[22],[37]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[20],[22],[37]			$ 16,794
Fair Value, Ending Balance		$ 16,711	[17],[24]	16,711	[17],[24]		$ 16,794	[20],[22],[37]
Principal amount		$ 17,140	[17],[21],[24]	$ 17,140	[17],[21],[24]		$ 17,358	[20],[22],[37]
Investment, Identifier [Axis]: Homer City Generation, L.P., Senior Secured First Lien Debt
Interest rate		15.00%		15.00%			15.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash		0.00%		0.00%			0.00%
PIK		15.00%		15.00%			15.00%
All-in-Rate		15.00%		15.00%			15.00%
Investment, Identifier [Axis]: Homer City Generation, L.P., Senior Secured First Lien Debt, 1/29/2023 Maturity, 3
Interest rate, unfunded	[19],[30]						0.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[30]			$ 0
Fair Value, Ending Balance	[30]						$ 0
Principal amount	[30]						$ 3,000
Investment, Identifier [Axis]: Homer City Generation, L.P., Senior Secured First Lien Debt, 10/1/2024 Maturity, 1
Interest rate	[16],[24],[33],[41]	15.00%		15.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[24],[33],[41]	$ 8,128		$ 8,128
All-in-Rate	[16],[24],[33],[41]	15.00%		15.00%
Principal amount	[21],[24],[33],[41]	$ 12,222		$ 12,222
Investment, Identifier [Axis]: Homer City Generation, L.P., Senior Secured First Lien Debt, 4/5/2023 Maturity, 1
Interest rate	[19],[22],[35]						15.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[35]			9,308
Fair Value, Ending Balance	[22],[35]						$ 9,308
All-in-Rate	[19],[22],[35]						15.00%
Principal amount	[22],[35]						$ 11,782
Investment, Identifier [Axis]: Homer City Generation, L.P., Senior Secured First Lien Debt, 5/31/2023 Maturity, 2
Interest rate	[19]						17.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ 1,000
Fair Value, Ending Balance							$ 1,000
All-in-Rate	[19]						17.00%
Principal amount							$ 1,000
Investment, Identifier [Axis]: Homer City Generation, L.P., Senior Secured First Lien Debt, 5/31/2023 Maturity, 2
Interest rate	[16],[33]	17.00%		17.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[33]	$ 1,015		$ 1,015
All-in-Rate	[16],[33]	17.00%		17.00%
Principal amount	[21],[33]	$ 1,000		$ 1,000
Investment, Identifier [Axis]: Hudson Hospital Opco, LLC, Senior Secured First Lien Debt, 11/4/2024 Maturity
Interest rate basis spread on variable rate	[18],[19],[20],[22]						8.00%
Interest rate, floor	[18],[19],[20],[22]						3.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[18],[20],[22]			$ 1,673
Fair Value, Ending Balance	[18],[20],[22]						$ 1,673
Principal amount	[18],[20],[22]						$ 1,700
Investment, Identifier [Axis]: Hudson Hospital Opco, LLC., Senior Secured First Lien Debt, 11/4/2023 Maturity
Interest rate basis spread on variable rate	[15],[16],[24],[43]	8.00%		8.00%
Interest rate, floor	[15],[16],[24],[43]	3.00%		3.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[15],[24],[43]	$ 2,169		$ 2,169
Principal amount	[15],[21],[24],[43]	$ 2,186		2,186
Investment, Identifier [Axis]: ICA Foam Holdings, LLC, Senior Secured First Lien Debt, 11/5/2025 Maturity, 2
Interest rate basis spread on variable rate	[19],[20],[22]						6.75%
Interest rate, floor	[19],[20],[22]						1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[20],[22]			$ 19,551
Fair Value, Ending Balance	[20],[22]						$ 19,551
Principal amount	[20],[22]						$ 19,950
Investment, Identifier [Axis]: ICA Foam Holdings, LLC., Senior Secured First Lien Debt, 11/5/2025 Maturity
Interest rate basis spread on variable rate	[16],[17],[24]	7.25%		7.25%
Interest rate, floor	[16],[17],[24]	1.00%		1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[17],[24]	$ 19,453		$ 19,453
Principal amount	[17],[21],[24]	$ 19,850		19,850
Investment, Identifier [Axis]: IJKG Opco LLC, Senior Secured First Lien Debt, 11/4/2023 Maturity, 2
Interest rate basis spread on variable rate	[18],[19],[20],[22]						8.00%
Interest rate, floor	[18],[19],[20],[22]						3.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[18],[20],[22]			$ 718
Fair Value, Ending Balance	[18],[20],[22]						$ 718
Principal amount	[18],[20],[22]						$ 729
Investment, Identifier [Axis]: IJKG Opco LLC., Senior Secured First Lien Debt, 11/4/2023 Maturity
Interest rate basis spread on variable rate	[15],[16],[24],[43]	8.00%		8.00%
Interest rate, floor	[15],[16],[24],[43]	3.00%		3.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[15],[24],[43]	$ 1,446		$ 1,446
Principal amount	[15],[21],[24],[43]	$ 1,457		$ 1,457
Investment, Identifier [Axis]: INW Manufacturing, LLC., Senior Secured First Lien Debt, 3/25/2027 Maturity
Interest rate basis spread on variable rate		5.75%	[15],[16],[34]	5.75%	[15],[16],[34]		5.75%	[18],[19],[23]
Interest rate, floor		0.75%	[15],[16],[34]	0.75%	[15],[16],[34]		0.75%	[18],[19],[23]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[18],[23]			$ 17,766
Fair Value, Ending Balance		$ 16,813	[15],[34]	16,813	[15],[34]		$ 17,766	[18],[23]
Principal amount		18,250	[15],[21],[34]	18,250	[15],[21],[34]		18,750	[18],[23]
Investment, Identifier [Axis]: IPP Buyer Holdings, LLC
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				0
Gross Additions Cost				10,740
Gross Reductions Cost				0
Net Unrealized Gain (Loss)				993
Fair Value, Ending Balance		11,733		11,733			$ 0
Net Realized Gain (Loss)				0
Interest Income				0
Dividend Income				0
Fee income				0
Investment, Identifier [Axis]: IPP Buyer Holdings, LLC., Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[31],[32]	$ 11,733		11,733
Investment, Identifier [Axis]: Independent Pet Partners Intermediate Holdings, LLC 4, Senior Secured First Lien Debt
Interest rate							14.42%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash							0.00%
PIK							14.42%
All-in-Rate							14.42%
Investment, Identifier [Axis]: Independent Pet Partners Intermediate Holdings, LLC, 1, Senior Secured First Lien Debt
Interest rate							6.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash							0.00%
PIK							6.00%
All-in-Rate							6.00%
Investment, Identifier [Axis]: Independent Pet Partners Intermediate Holdings, LLC, 2, Senior Secured First Lien Debt
Interest rate							13.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash							0.00%
PIK							13.00%
All-in-Rate							13.00%
Investment, Identifier [Axis]: Independent Pet Partners Intermediate Holdings, LLC, 3, Senior Secured First Lien Debt
Interest rate							11.26%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash							0.00%
PIK							11.26%
All-in-Rate							11.26%
Investment, Identifier [Axis]: Independent Pet Partners Intermediate Holdings, LLC, Class A Preferred Units., Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[30]			60
Fair Value, Ending Balance	[30]						$ 60
Investment, Identifier [Axis]: Independent Pet Partners Intermediate Holdings, LLC, Class B-2 Preferred Units., Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[30]			3,238
Fair Value, Ending Balance	[22],[30]						3,238
Investment, Identifier [Axis]: Independent Pet Partners Intermediate Holdings, LLC, Class C Preferred Units., Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[30]			2,238
Fair Value, Ending Balance	[22],[30]						2,238
Investment, Identifier [Axis]: Independent Pet Partners Intermediate Holdings, LLC, Warrants., Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[30]			0
Fair Value, Ending Balance	[30]						$ 0
Investment, Identifier [Axis]: Independent Pet Partners Intermediate Holdings, LLC., Senior Secured First Lien Debt, 11/20/2023 Maturity, 1
Interest rate	[19],[35]						6.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[35]			10,169
Fair Value, Ending Balance	[35]						$ 10,169
All-in-Rate	[19],[35]						6.00%
Principal amount	[35]						$ 10,934
Investment, Identifier [Axis]: Independent Pet Partners Intermediate Holdings, LLC., Senior Secured First Lien Debt, 2/27/2023 Maturity, 2
Interest rate basis spread on variable rate	[19],[35]						5.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[35]			2,216
Fair Value, Ending Balance	[35]						$ 2,216
Principal amount	[35]						$ 2,238
Investment, Identifier [Axis]: Independent Pet Partners Intermediate Holdings, LLC., Senior Secured First Lien Debt, 2/27/2023 Maturity, 3
Interest rate basis spread on variable rate	[19],[23],[35]						6.50%
Interest rate, floor	[19],[23],[35]						0.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[23],[35]			278
Fair Value, Ending Balance	[23],[35]						$ 278
Principal amount	[23],[35]						$ 281
Investment, Identifier [Axis]: Independent Pet Partners Intermediate Holdings, LLC., Senior Secured First Lien Debt, 2/27/2023 Maturity, 4
Interest rate basis spread on variable rate	[19],[20],[35]						10.00%
Interest rate, floor	[19],[20],[35]						1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[20],[35]			473
Fair Value, Ending Balance	[20],[35]						$ 473
Principal amount	[20],[35]						$ 473
Investment, Identifier [Axis]: Infogroup Inc., Senior Secured First Lien Debt, 4/3/2023 Maturity
Interest rate basis spread on variable rate	[18],[19],[22],[23]						5.00%
Interest rate, floor	[18],[19],[22],[23]						1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[18],[22],[23]			$ 15,270
Fair Value, Ending Balance	[18],[22],[23]						$ 15,270
Principal amount	[18],[22],[23]						$ 15,270
Investment, Identifier [Axis]: Inotiv, Inc., Senior Secured First Lien Debt, 11/5/2026 Maturity
Interest rate basis spread on variable rate	[16],[24],[38]	6.75%		6.75%
Interest rate, floor	[16],[24],[38]	1.00%		1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[24],[38]	$ 15,793		$ 15,793
Principal amount	[21],[24],[38]	16,365		16,365
Investment, Identifier [Axis]: Inotiv, Inc., Senior Secured First Lien Debt, 11/5/2026 Maturity, 1
Interest rate basis spread on variable rate	[19],[22],[23]						6.25%
Interest rate, floor	[19],[22],[23]						1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[23]			15,738
Fair Value, Ending Balance	[22],[23]						$ 15,738
Principal amount	[22],[23]						16,351
Investment, Identifier [Axis]: Instant Web Holdings, LLC, Class A Common Units, Non-Controlled, Affiliated Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				0		0	0
Gross Additions Cost				0	[3]		0	[4]
Gross Reductions Cost				0	[5]		0	[6]
Net Unrealized Gain (Loss)				0			0
Fair Value, Ending Balance		0		0			0
Net Realized Gain (Loss)				0			0
Interest Income				0	[7]		0	[8]
Dividend Income				0			0
Fee income				0
Investment, Identifier [Axis]: Instant Web Holdings, LLC, Class A Common Units., Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[29],[30]			0
Fair Value, Ending Balance		0	[31],[32]	0	[31],[32]		0	[29],[30]
Investment, Identifier [Axis]: Instant Web, LLC, First Lien Delayed Draw Term Loan, Non-Controlled, Affiliated Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				0		0	0
Gross Additions Cost				0	[3]		0	[4]
Gross Reductions Cost				0	[5]		0	[6]
Net Unrealized Gain (Loss)				(89)			0
Fair Value, Ending Balance		(89)		(89)			0
Net Realized Gain (Loss)				0			0
Interest Income				8	[7]		14	[8]
Dividend Income				0			0
Fee income				0
Investment, Identifier [Axis]: Instant Web, LLC, First Lien Term Loan, Non-Controlled, Affiliated Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				28,167		0	0
Gross Additions Cost				2,447	[3]		39,802	[4]
Gross Reductions Cost				0	[5]		0	[6]
Net Unrealized Gain (Loss)				(5,265)			(11,635)
Fair Value, Ending Balance		25,349		25,349			28,167
Net Realized Gain (Loss)				0			0
Interest Income				2,436	[7]		3,314	[8]
Dividend Income				0			0
Fee income				0
Investment, Identifier [Axis]: Instant Web, LLC, Priming Term Loan, Non-Controlled, Affiliated Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				469		0	0
Gross Additions Cost				10	[3]		458	[4]
Gross Reductions Cost				0	[5]		0	[6]
Net Unrealized Gain (Loss)				0			11
Fair Value, Ending Balance		$ 479		479			469
Net Realized Gain (Loss)				0			0
Interest Income				27	[7]		36	[8]
Dividend Income				0			0
Fee income				$ 0
Investment, Identifier [Axis]: Instant Web, LLC, Revolver
Interest rate		11.77%		11.77%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash		0.00%		0.00%
PIK		11.77%		11.77%
All-in-Rate		11.77%		11.77%
Investment, Identifier [Axis]: Instant Web, LLC, Revolving Loan, Non-Controlled, Affiliated Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ 321		0	0
Gross Additions Cost				2,093	[3]		970	[4]
Gross Reductions Cost				0	[5]		(649)	[6]
Net Unrealized Gain (Loss)				(75)			0
Fair Value, Ending Balance		$ 2,339		2,339			321
Net Realized Gain (Loss)				0			0
Interest Income				78	[7]		26	[8]
Dividend Income				0			$ 0
Fee income				$ 0
Investment, Identifier [Axis]: Instant Web, LLC, Senior Secured First Lien Debt
Interest rate							11.38%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash							0.00%
PIK							11.38%
All-in-Rate							11.38%
Investment, Identifier [Axis]: Instant Web, LLC, Senior Secured First Lien Debt 1
Interest rate		12.22%		12.22%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash		0.00%		0.00%
PIK		12.22%		12.22%
All-in-Rate		12.22%		12.22%
Investment, Identifier [Axis]: Instant Web, LLC, Senior Secured First Lien Debt 2
Interest rate		12.00%		12.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash		0.00%		0.00%
PIK		12.00%		12.00%
All-in-Rate		12.00%		12.00%
Investment, Identifier [Axis]: Instant Web, LLC., Senior Secured First Lien Debt, 2/25/2027 Maturity, 1
Interest rate basis spread on variable rate		7.00%	[16],[31],[33],[43]	7.00%	[16],[31],[33],[43]		7.00%	[18],[19],[22],[29],[35],[37]
Interest rate, floor		1.00%	[16],[31],[33],[43]	1.00%	[16],[31],[33],[43]		1.00%	[18],[19],[22],[29],[35],[37]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[18],[22],[29],[35],[37]			$ 28,167
Fair Value, Ending Balance		$ 25,349	[31],[33],[43]	25,349	[31],[33],[43]		$ 28,167	[18],[22],[29],[35],[37]
Principal amount		$ 42,249	[21],[31],[33],[43]	$ 42,249	[21],[31],[33],[43]		$ 39,812	[18],[22],[29],[35],[37]
Investment, Identifier [Axis]: Instant Web, LLC., Senior Secured First Lien Debt, 2/25/2027 Maturity, 2
Interest rate basis spread on variable rate		6.50%	[16],[31],[33],[43]	6.50%	[16],[31],[33],[43]		3.75%	[19],[29]
Interest rate, floor	[16],[31],[33],[43]	1.00%		1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[29]			$ 469
Fair Value, Ending Balance		$ 2,348	[31],[33],[43]	2,348	[31],[33],[43]		$ 469	[29]
Principal amount		$ 2,414	[21],[31],[33],[43]	$ 2,414	[21],[31],[33],[43]		$ 458	[29]
Investment, Identifier [Axis]: Instant Web, LLC., Senior Secured First Lien Debt, 2/25/2027 Maturity, 3
Interest rate basis spread on variable rate		3.75%	[16],[31],[33]	3.75%	[16],[31],[33]		6.50%	[19],[23],[29]
Interest rate, floor	[19],[23],[29]						1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[23],[29]			$ 321
Fair Value, Ending Balance		$ 479	[31],[33]	479	[31],[33]		$ 321	[23],[29]
Principal amount		$ 467	[21],[31],[33]	$ 467	[21],[31],[33]		$ 321	[23],[29]
Investment, Identifier [Axis]: Instant Web, LLC., Senior Secured First Lien Debt, 2/25/2027 Maturity, 4
Interest rate, unfunded		0.50%	[16],[31]	0.50%	[16],[31]		0.50%	[19],[29]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[29]			$ 0
Fair Value, Ending Balance		$ (9)	[31]	(9)	[31]		$ 0	[29]
Principal amount		328	[21],[31]	328	[21],[31]		$ 2,383	[29]
Investment, Identifier [Axis]: Instant Web, LLC., Senior Secured First Lien Debt, 2/25/2027 Maturity, 5
Interest rate, unfunded	[19],[29]						0.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[29]			0
Fair Value, Ending Balance		(89)	[31]	(89)	[31]		$ 0	[29]
Principal amount		$ 3,246	[21],[31]	$ 3,246	[21],[31]		$ 3,246	[29]
Investment, Identifier [Axis]: Invincible Boat Company LLC., Senior Secured First Lien Debt, 8/28/2025 Maturity, 1
Interest rate basis spread on variable rate		6.50%	[16],[24],[34]	6.50%	[16],[24],[34]		6.50%	[19],[22],[23]
Interest rate, floor		1.50%	[16],[24],[34]	1.50%	[16],[24],[34]		1.50%	[19],[22],[23]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[23]			$ 13,469
Fair Value, Ending Balance		$ 13,536	[24],[34]	13,536	[24],[34]		$ 13,469	[22],[23]
Principal amount		$ 13,536	[21],[24],[34]	$ 13,536	[21],[24],[34]		$ 13,536	[22],[23]
Investment, Identifier [Axis]: Invincible Boat Company LLC., Senior Secured First Lien Debt, 8/28/2025 Maturity, 2
Interest rate basis spread on variable rate		6.50%	[16],[34]	6.50%	[16],[34]		6.50%	[19],[23]
Interest rate, floor		1.50%	[16],[34]	1.50%	[16],[34]		1.50%	[19],[23]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[23]			$ 238
Fair Value, Ending Balance		$ 479	[34]	479	[34]		$ 238	[23]
Principal amount		$ 479	[21],[34]	$ 479	[21],[34]		$ 239	[23]
Investment, Identifier [Axis]: Invincible Boat Company LLC., Senior Secured First Lien Debt, 8/28/2025 Maturity, 3
Interest rate, unfunded		0.50%	[16]	0.50%	[16]		0.50%	[19]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ (3)
Fair Value, Ending Balance		$ 0		0			$ (3)
Principal amount		$ 319	[21]	319	[21]		$ 559
Investment, Identifier [Axis]: Ironhorse Purchaser, LLC, Senior Secured First Lien Debt, 9/30/2027 Maturity 1
Interest rate basis spread on variable rate	[18],[19],[20]						6.50%
Interest rate, floor	[18],[19],[20]						1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[18],[20]			7,054
Fair Value, Ending Balance	[18],[20]						$ 7,054
Principal amount	[18],[20]						$ 7,125
Investment, Identifier [Axis]: Ironhorse Purchaser, LLC, Senior Secured First Lien Debt, 9/30/2027 Maturity 2
Interest rate basis spread on variable rate	[19],[20]						6.50%
Interest rate, floor	[19],[20]						1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[20]			384
Fair Value, Ending Balance	[20]						$ 384
Principal amount	[20]						$ 388
Investment, Identifier [Axis]: Ironhorse Purchaser, LLC, Senior Secured First Lien Debt, 9/30/2027 Maturity 3
Interest rate, unfunded	[19]						0.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				(4)
Fair Value, Ending Balance							$ (4)
Principal amount							$ 429
Investment, Identifier [Axis]: Ironhorse Purchaser, LLC, Senior Secured First Lien Debt, 9/30/2027 Maturity 4
Interest rate, unfunded	[19]						1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ (20)
Fair Value, Ending Balance							$ (20)
Principal amount							2,041
Investment, Identifier [Axis]: Ironhorse Purchaser, LLC., Senior Secured First Lien Debt, 9/30/2024 Maturity
Interest rate basis spread on variable rate	[16],[17]	6.50%		6.50%
Interest rate, floor	[16],[17]	1.00%		1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[17]	$ 2,031		$ 2,031
Principal amount	[17],[21]	$ 2,031		$ 2,031
Investment, Identifier [Axis]: Ironhorse Purchaser, LLC., Senior Secured First Lien Debt, 9/30/2027 Maturity 1
Interest rate basis spread on variable rate	[15],[16],[17]	6.50%		6.50%
Interest rate, floor	[15],[16],[17]	1.00%		1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[15],[17]	$ 7,089		$ 7,089
Principal amount	[15],[17],[21]	$ 7,089		$ 7,089
Investment, Identifier [Axis]: Ironhorse Purchaser, LLC., Senior Secured First Lien Debt, 9/30/2027 Maturity 3
Interest rate basis spread on variable rate	[16],[17]	6.50%		6.50%
Interest rate, floor	[16],[17]	1.00%		1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[17]	$ 517		$ 517
Principal amount	[17],[21]	$ 517		$ 517
Investment, Identifier [Axis]: Ironhorse Purchaser, LLC., Senior Secured First Lien Debt, 9/30/2027 Maturity 4
Interest rate basis spread on variable rate	[16]	0.50%		0.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance		$ 0		$ 0
Principal amount	[21]	299		299
Investment, Identifier [Axis]: Isagenix International, LLC, First Lien Term Loan
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				0
Gross Additions Cost				8,237
Gross Reductions Cost				0
Net Unrealized Gain (Loss)				0
Fair Value, Ending Balance		$ 8,237		8,237			$ 0
Net Realized Gain (Loss)				0
Interest Income				189
Dividend Income				0
Fee income				$ 477
Investment, Identifier [Axis]: Isagenix International, LLC., Senior Secured First Lien Debt, 4/14/2028 Maturity
Interest rate basis spread on variable rate	[16],[17],[31]	5.50%		5.50%
Interest rate, floor	[16],[17],[31]	1.00%		1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[17],[31]	$ 8,237		$ 8,237
Principal amount	[17],[21],[31]	8,237		8,237
Investment, Identifier [Axis]: Isagenix International, LLC., Senior Secured First Lien Debt, 6/14/2025 Maturity
Interest rate basis spread on variable rate	[19],[22],[23]						7.75%
Interest rate, floor	[19],[22],[23]						1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[23]			13,774
Fair Value, Ending Balance	[22],[23]						$ 13,774
Principal amount	[22],[23]						16,229
Investment, Identifier [Axis]: Isagenix Worldwide, Inc.
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				0
Gross Additions Cost				8,987
Gross Reductions Cost				0
Net Unrealized Gain (Loss)				0
Fair Value, Ending Balance		8,987		8,987			$ 0
Net Realized Gain (Loss)				0
Interest Income				0
Dividend Income				0
Fee income				0
Investment, Identifier [Axis]: Isagenix Worldwide, Inc. Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[31],[32]	$ 8,987		8,987
Investment, Identifier [Axis]: JP Intermediate B, LLC., Senior Secured First Lien Debt, 11/20/2025 Maturity
Interest rate basis spread on variable rate	[19],[22],[23]						5.50%
Interest rate, floor	[19],[22],[23]						1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[23]			$ 9,809
Fair Value, Ending Balance	[22],[23]						$ 9,809
Principal amount	[22],[23]						$ 13,438
Investment, Identifier [Axis]: JP Intermediate B, LLC., Senior Secured First Lien Debt, 11/20/2027 Maturity
Interest rate basis spread on variable rate	[16],[24],[34]	5.50%		5.50%
Interest rate, floor	[16],[24],[34]	1.00%		1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[24],[34]	$ 10,091		$ 10,091
Principal amount	[21],[24],[34]	$ 12,979		12,979
Investment, Identifier [Axis]: Jenny C Acquisition, Inc., Senior Secured First Lien Debt, 10/1/2024 Maturity
Interest rate basis spread on variable rate	[19],[23],[40]						9.00%
Interest rate, floor	[19],[23],[40]						1.75%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[23],[40]			$ 9,241
Fair Value, Ending Balance	[23],[40]						$ 9,241
Principal amount	[23],[40]						$ 11,789
Investment, Identifier [Axis]: Jenny C Acquisition, Inc., Senior Secured First Lien Debt, 10/1/2024 Maturity, 1
Interest rate basis spread on variable rate	[16],[34],[41]	9.00%		9.00%
Interest rate, floor	[16],[34],[41]	1.75%		1.75%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[34],[41]	$ 0		$ 0
Principal amount	[21],[34],[41]	$ 11,789		$ 11,789
Investment, Identifier [Axis]: Jenny C Acquisition, Inc., Senior Secured First Lien Debt, 10/1/2024 Maturity, 2
Interest rate basis spread on variable rate	[16],[41],[43]	9.00%		9.00%
Interest rate, floor	[16],[41],[43]	1.75%		1.75%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[41],[43]	$ 131		$ 131
Principal amount	[21],[41],[43]	534		534
Investment, Identifier [Axis]: K&N Holdco, LLC, Membership Units, Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[32]	$ 6,880		$ 6,880
Investment, Identifier [Axis]: K&N Parent, Inc, Senior Secured First Lien Debt
Interest rate		13.40%		13.40%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash		0.00%		0.00%
PIK		13.40%		13.40%
All-in-Rate		13.40%		13.40%
Investment, Identifier [Axis]: K&N Parent, Inc., Senior Secured First Lien Debt, 10/20/2023 Maturity 1
Interest rate basis spread on variable rate	[19],[23]						6.75%
Interest rate, floor	[19],[23]						1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[23]			$ 12,435
Fair Value, Ending Balance	[23]						$ 12,435
Principal amount	[23]						$ 13,090
Investment, Identifier [Axis]: K&N Parent, Inc., Senior Secured First Lien Debt, 2/14/2027 Maturity, 2
Interest rate basis spread on variable rate	[16],[24],[43]	8.00%		8.00%
Interest rate, floor	[16],[24],[43]	1.00%		1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[24],[43]	$ 4,454		$ 4,454
Principal amount	[21],[24],[43]	$ 4,252		4,252
Investment, Identifier [Axis]: K&N Parent, Inc., Senior Secured First Lien Debt, 2/15/2023 Maturity 2
Interest rate basis spread on variable rate	[19],[20]						8.00%
Interest rate, floor	[19],[20]						1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[20]			$ 1,220
Fair Value, Ending Balance	[20]						$ 1,220
Principal amount	[20]						$ 1,200
Investment, Identifier [Axis]: K&N Parent, Inc., Senior Secured First Lien Debt, 8/14/2027 Maturity, 1
Interest rate basis spread on variable rate	[16],[33],[43]	5.25%		5.25%
Interest rate, floor	[16],[33],[43]	1.00%		1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[33],[43]	$ 5,427		$ 5,427
Principal amount	[21],[33],[43]	$ 5,441		$ 5,441
Investment, Identifier [Axis]: KNB Holdings Corp., Senior Secured First Lien Debt, 4/26/2024 Maturity
Interest rate basis spread on variable rate		5.50%	[16],[24],[41],[53]	5.50%	[16],[24],[41],[53]		5.50%	[18],[19],[22],[39],[40]
Interest rate, floor		1.00%	[16],[24],[41],[53]	1.00%	[16],[24],[41],[53]		1.00%	[18],[19],[22],[39],[40]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[18],[22],[39],[40]			$ 3,321
Fair Value, Ending Balance		$ 305	[24],[41],[53]	305	[24],[41],[53]		$ 3,321	[18],[22],[39],[40]
Principal amount		$ 7,634	[21],[24],[41],[53]	$ 7,634	[21],[24],[41],[53]		$ 7,634	[18],[22],[39],[40]
Investment, Identifier [Axis]: Klein Hersh , LLC, Senior Secured First Lien Debt
Interest rate		16.90%		16.90%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash		4.90%		4.90%
PIK		12.00%		12.00%
All-in-Rate		16.90%		16.90%
Investment, Identifier [Axis]: Klein Hersh, LLC., Senior Secured First Lien Debt, 4/27/2027 Maturity
Interest rate basis spread on variable rate		11.30%	[16],[24],[33],[43]	11.30%	[16],[24],[33],[43]		8.52%	[19],[22],[42]
Interest rate, floor		0.50%	[16],[24],[33],[43]	0.50%	[16],[24],[33],[43]		0.50%	[19],[22],[42]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[42]			$ 19,667
Fair Value, Ending Balance		$ 20,730	[24],[33],[43]	20,730	[24],[33],[43]		$ 19,667	[22],[42]
Principal amount		$ 20,782	[21],[24],[33],[43]	$ 20,782	[21],[24],[33],[43]		$ 19,766	[22],[42]
Investment, Identifier [Axis]: LAV Gear Holdings, Inc., Senior Secured First Lien Debt, 10/31/2024 Maturity, 1
Interest rate basis spread on variable rate		6.28%	[15],[16],[17],[24]	6.28%	[15],[16],[17],[24]		5.50%	[18],[19],[20],[22]
Interest rate, floor		1.00%	[15],[16],[17],[24]	1.00%	[15],[16],[17],[24]		1.00%	[18],[19],[20],[22]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[18],[20],[22]			$ 27,366
Fair Value, Ending Balance		$ 27,662	[15],[17],[24]	27,662	[15],[17],[24]		$ 27,366	[18],[20],[22]
Principal amount		$ 27,722	[15],[17],[21],[24]	$ 27,722	[15],[17],[21],[24]		$ 27,854	[18],[20],[22]
Investment, Identifier [Axis]: LAV Gear Holdings, Inc., Senior Secured First Lien Debt, 10/31/2024 Maturity, 2
Interest rate basis spread on variable rate		6.28%	[15],[16],[17],[24]	6.28%	[15],[16],[17],[24]		5.50%	[18],[19],[20],[22]
Interest rate, floor		1.00%	[15],[16],[17],[24]	1.00%	[15],[16],[17],[24]		1.00%	[18],[19],[20],[22]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[18],[20],[22]			$ 4,489
Fair Value, Ending Balance		$ 4,542	[15],[17],[24]	4,542	[15],[17],[24]		$ 4,489	[18],[20],[22]
Principal amount		$ 4,548	[15],[17],[21],[24]	$ 4,548	[15],[17],[21],[24]		$ 4,569	[18],[20],[22]
Investment, Identifier [Axis]: LGC US Finco, LLC., Senior Secured First Lien Debt, 12/20/2025 Maturity
Interest rate basis spread on variable rate		6.50%	[16],[24],[36]	6.50%	[16],[24],[36]		6.50%	[19],[22],[37]
Interest rate, floor		1.00%	[16],[24],[36]	1.00%	[16],[24],[36]		1.00%	[19],[22],[37]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[37]			$ 11,184
Fair Value, Ending Balance		$ 11,348	[24],[36]	11,348	[24],[36]		$ 11,184	[22],[37]
Principal amount		11,348	[21],[24],[36]	11,348	[21],[24],[36]		11,515	[22],[37]
Investment, Identifier [Axis]: Language Education Holdings GP LLC, Common Units, Non-Controlled, Affiliated Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				0		0	0
Gross Additions Cost	[4]						0
Gross Reductions Cost	[6]						0
Net Unrealized Gain (Loss)							0
Fair Value, Ending Balance							0
Net Realized Gain (Loss)							0
Interest Income	[8]						0
Dividend Income							0
Investment, Identifier [Axis]: Language Education Holdings GP LLC, Common Units., Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[29],[30]			0
Fair Value, Ending Balance		0	[32]	0	[32]		0	[29],[30]
Investment, Identifier [Axis]: Language Education Holdings LP, Ordinary Common Units, Non-Controlled, Affiliated Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				0		0	0
Gross Additions Cost	[4]						1,125
Gross Reductions Cost	[6]						(1,125)
Net Unrealized Gain (Loss)							0
Fair Value, Ending Balance							0
Net Realized Gain (Loss)							0
Interest Income	[8]						0
Dividend Income							0
Investment, Identifier [Axis]: Language Education Holdings LP, Ordinary Common Units., Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[29],[30]			1,173
Fair Value, Ending Balance		$ 1,360	[32]	1,360	[32]		$ 1,173	[29],[30]
Investment, Identifier [Axis]: LaserAway Intermediate Holdings II, LLC., Senior Secured First Lien Debt, 10/12/2027 Maturity
Interest rate basis spread on variable rate	[19],[22],[23]						5.75%
Interest rate, floor	[19],[22],[23]						0.75%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[23]			$ 3,316
Fair Value, Ending Balance	[22],[23]						$ 3,316
Principal amount	[22],[23]						$ 3,375
Investment, Identifier [Axis]: Lift Brands, Inc., Senior Secured First Lien Debt
Interest rate		9.50%		9.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash		0.00%		0.00%
PIK		9.50%		9.50%
All-in-Rate		9.50%		9.50%
Investment, Identifier [Axis]: Lift Brands, Inc., Senior Secured First Lien Debt, 6/29/2025 Maturity, 1
Interest rate basis spread on variable rate		7.50%	[15],[16],[24],[31],[43]	7.50%	[15],[16],[24],[31],[43]		7.50%	[18],[19],[22],[29],[37]
Interest rate, floor		1.00%	[15],[16],[24],[31],[43]	1.00%	[15],[16],[24],[31],[43]		1.00%	[18],[19],[22],[29],[37]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[18],[22],[29],[37]			$ 23,287
Fair Value, Ending Balance		$ 23,169	[15],[24],[31],[43]	23,169	[15],[24],[31],[43]		$ 23,287	[18],[22],[29],[37]
Principal amount		$ 23,169	[15],[21],[24],[31],[43]	$ 23,169	[15],[21],[24],[31],[43]		$ 23,287	[18],[22],[29],[37]
Investment, Identifier [Axis]: Lift Brands, Inc., Senior Secured First Lien Debt, 6/29/2025 Maturity, 2
Interest rate		9.50%	[15],[16],[24],[31],[33]	9.50%	[15],[16],[24],[31],[33]		9.50%	[18],[19],[22],[29]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[18],[22],[29]			$ 5,154
Fair Value, Ending Balance		$ 5,430	[15],[24],[31],[33]	$ 5,430	[15],[24],[31],[33]		$ 5,154	[18],[22],[29]
All-in-Rate		9.50%	[15],[16],[24],[31],[33]	9.50%	[15],[16],[24],[31],[33]		9.50%	[18],[19],[22],[29]
Principal amount		$ 5,777	[15],[21],[24],[31],[33]	$ 5,777	[15],[21],[24],[31],[33]		$ 5,556	[18],[22],[29]
Investment, Identifier [Axis]: Lift Brands, Inc., Senior Secured First Lien Debt, 6/29/2025 Maturity, 3
Interest rate	[15],[16],[24],[31],[33]	9.50%		9.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[18],[22],[29],[54]			$ 4,732
Fair Value, Ending Balance		$ 6,016	[15],[24],[31],[33]	$ 6,016	[15],[24],[31],[33]		4,732	[18],[22],[29],[54]
All-in-Rate	[15],[16],[24],[31],[33]	9.50%		9.50%
Principal amount		$ 6,602	[15],[21],[24],[31],[33]	$ 6,602	[15],[21],[24],[31],[33]		5,296	[18],[22],[29],[54]
Investment, Identifier [Axis]: Lift Brands, Inc., Term Loan A, Non-Controlled, Affiliated Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				23,287		23,406	23,406
Gross Additions Cost				0	[3]		0	[4]
Gross Reductions Cost				(118)	[5]		(236)	[6]
Net Unrealized Gain (Loss)				0			117
Fair Value, Ending Balance		23,169		23,169			23,287
Net Realized Gain (Loss)				0			0
Interest Income				1,440	[7]		2,252	[8]
Dividend Income				0			0
Fee income				29
Investment, Identifier [Axis]: Lift Brands, Inc., Term Loan B, Non-Controlled, Affiliated Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				5,154		5,156	5,156
Gross Additions Cost				234	[3]		235	[4]
Gross Reductions Cost				0	[5]		0	[6]
Net Unrealized Gain (Loss)				42			(237)
Fair Value, Ending Balance		5,430		5,430			5,154
Net Realized Gain (Loss)				0			0
Interest Income				280	[7]		545	[8]
Dividend Income				0			0
Fee income				0
Investment, Identifier [Axis]: Lift Brands, Inc., Term Loan C, Non-Controlled, Affiliated Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				4,732		4,700	4,700
Gross Additions Cost				1,335	[3]		133	[4]
Gross Reductions Cost				0	[5]		0	[6]
Net Unrealized Gain (Loss)				(51)			(101)
Fair Value, Ending Balance		6,016		6,016			4,732
Net Realized Gain (Loss)				0			0
Interest Income				348	[7]		1,412	[8]
Dividend Income				0			0
Fee income				1,891
Investment, Identifier [Axis]: Longview Intermediate Holdings C, LLC, Membership Units, Non-Controlled, Affiliated Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				23,995		15,127	15,127
Gross Additions Cost				0	[3]		0	[4]
Gross Reductions Cost				0	[5]		0	[6]
Net Unrealized Gain (Loss)				(2,315)			8,868
Fair Value, Ending Balance		21,680		21,680			23,995
Net Realized Gain (Loss)				0			0
Interest Income				0	[7]		0	[8]
Dividend Income				3,881			0
Fee income				0
Investment, Identifier [Axis]: Longview Intermediate Holdings C, LLC, Membership Units., Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[29],[30]			23,995
Fair Value, Ending Balance		21,680	[31]	21,680	[31]		23,995	[29],[30]
Investment, Identifier [Axis]: Longview Power, LLC, First Lien Term Loan, Non-Controlled, Affiliated Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				2,348		4,504	4,504
Gross Additions Cost				0	[3]		156	[4]
Gross Reductions Cost				(1,389)	[5]		(1,391)	[6]
Net Unrealized Gain (Loss)				(959)			(921)
Fair Value, Ending Balance		$ 0		0			2,348
Net Realized Gain (Loss)				0			0
Interest Income				1,306	[7]		1,952	[8]
Dividend Income				0			$ 0
Fee income				0
Investment, Identifier [Axis]: Longview Power, LLC., Senior Secured First Lien Debt, 7/30/2025 Maturity
Interest rate basis spread on variable rate	[19],[23],[29]						10.00%
Interest rate, floor	[19],[23],[29]						1.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[23],[29]			$ 2,348
Fair Value, Ending Balance	[23],[29]						$ 2,348
Principal amount	[23],[29]						$ 2,073
Investment, Identifier [Axis]: Lucky Bucks Holdings LLC, Unsecured Note
Interest rate		12.50%		12.50%			12.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash		0.00%		0.00%			0.00%
PIK		12.50%		12.50%			12.50%
All-in-Rate		12.50%		12.50%			12.50%
Investment, Identifier [Axis]: Lucky Bucks Holdings LLC., Unsecured Debt, 5/29/2028 Maturity
Interest rate		12.50%	[16],[33],[41]	12.50%	[16],[33],[41]		12.50%	[35]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[35]			$ 15,316
Fair Value, Ending Balance		$ 4,375	[33],[41]	$ 4,375	[33],[41]		$ 15,316	[35]
All-in-Rate		12.50%	[16],[33],[41]	12.50%	[16],[33],[41]		12.50%	[35]
Principal amount		$ 24,307	[21],[33],[41]	$ 24,307	[21],[33],[41]		$ 22,860	[35]
Investment, Identifier [Axis]: Lucky Bucks Holdings LLC., Unsecured Debt, 7/30/2027 Maturity
Interest rate basis spread on variable rate	[16],[36],[55]	7.50%		7.50%
Interest rate, floor	[16],[36],[55]	0.75%		0.75%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[36],[55]	$ 5,513		$ 5,513
Principal amount	[21],[36],[55]	$ 10,500		$ 10,500
Investment, Identifier [Axis]: MacNeill Pride Group Corp., Senior Secured First Lien Debt, 4/22/2026 Maturity, 1
Interest rate basis spread on variable rate		6.50%	[16],[17],[24]	6.50%	[16],[17],[24]		6.25%	[19],[20],[22]
Interest rate, floor		1.00%	[16],[17],[24]	1.00%	[16],[17],[24]		1.00%	[19],[20],[22]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[20],[22]			$ 17,448
Fair Value, Ending Balance		$ 17,626	[17],[24]	17,626	[17],[24]		$ 17,448	[20],[22]
Principal amount		$ 17,714	[17],[21],[24]	$ 17,714	[17],[21],[24]		$ 17,804	[20],[22]
Investment, Identifier [Axis]: MacNeill Pride Group Corp., Senior Secured First Lien Debt, 4/22/2026 Maturity, 2
Interest rate basis spread on variable rate		6.50%	[16],[17],[24]	6.50%	[16],[17],[24]		6.25%	[19],[20],[22]
Interest rate, floor		1.00%	[16],[17],[24]	1.00%	[16],[17],[24]		1.00%	[19],[20],[22]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[20],[22]			$ 7,751
Fair Value, Ending Balance		$ 6,506	[17],[24]	6,506	[17],[24]		$ 7,751	[20],[22]
Principal amount		$ 6,539	[17],[21],[24]	$ 6,539	[17],[21],[24]		$ 7,910	[20],[22]
Investment, Identifier [Axis]: MacNeill Pride Group Corp., Senior Secured First Lien Debt, 4/30/2024 Maturity
Interest rate, unfunded	[16]	1.00%		1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance		$ (10)		$ (10)
Principal amount	[21]	$ 2,017		2,017
Investment, Identifier [Axis]: MacNeill Pride Group Corp., Senior Secured First Lien Debt, 4/30/2024 Maturity, 3
Interest rate, unfunded	[19]						1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ (40)
Fair Value, Ending Balance							$ (40)
Principal amount							$ 2,017
Investment, Identifier [Axis]: Manus Bio Inc., Senior Secured First Lien Debt, 8/20/2026 Maturity
Interest rate		13.00%	[16]	13.00%	[16]		11.00%	[19]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ 14,212
Fair Value, Ending Balance		$ 13,081		$ 13,081			$ 14,212
All-in-Rate		13.00%	[16]	13.00%	[16]		11.00%	[19]
Principal amount		$ 13,081	[21]	$ 13,081	[21]		$ 14,213
Investment, Identifier [Axis]: Marble Point Credit Management LLC., Senior Secured First Lien Debt, 8/11/2028 Maturity, 1
Interest rate basis spread on variable rate	[19],[23]						6.00%
Interest rate, unfunded	[19],[23]						1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[23]			6,089
Fair Value, Ending Balance	[23]						$ 6,089
Principal amount	[23]						$ 6,089
Investment, Identifier [Axis]: Marble Point Credit Management LLC., Senior Secured First Lien Debt, 8/11/2028 Maturity, 2
Interest rate basis spread on variable rate	[19],[23]						6.00%
Interest rate, floor	[19],[23]						1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[23]			$ 1,437
Fair Value, Ending Balance	[23]						$ 1,437
Principal amount	[23]						$ 1,437
Investment, Identifier [Axis]: Medplast Holdings, Inc.., Senior Secured First Lien Debt, 7/2/2025 Maturity
Interest rate basis spread on variable rate	[16],[36]	3.75%		3.75%
Interest rate, floor	[16],[36]	1.00%		1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[36]	$ 4,849		$ 4,849
Principal amount	[21],[36]	$ 4,987		$ 4,987
Investment, Identifier [Axis]: Mimeo.com, Inc., Senior Secured First Lien Debt, 12/21/2024 Maturity, 1
Interest rate basis spread on variable rate		6.80%	[16],[24],[34]	6.80%	[16],[24],[34]		7.00%	[19],[23]
Interest rate, floor		1.00%	[16],[24],[34]	1.00%	[16],[24],[34]		1.00%	[19],[23]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[23]			$ 22,161
Fair Value, Ending Balance		$ 21,846	[24],[34]	21,846	[24],[34]		$ 22,161	[23]
Principal amount		$ 21,983	[21],[24],[34]	$ 21,983	[21],[24],[34]		$ 22,328	[23]
Investment, Identifier [Axis]: Mimeo.com, Inc., Senior Secured First Lien Debt, 12/21/2024 Maturity, 2
Interest rate basis spread on variable rate		6.80%	[16],[34]	6.80%	[16],[34]		7.00%	[19],[23]
Interest rate, floor		1.00%	[16],[34]	1.00%	[16],[34]		1.00%	[19],[23]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[23]			$ 2,239
Fair Value, Ending Balance		$ 2,739	[34]	2,739	[34]		$ 2,239	[23]
Principal amount		$ 2,756	[21],[34]	$ 2,756	[21],[34]		$ 2,256	[23]
Investment, Identifier [Axis]: Mimeo.com, Inc., Senior Secured First Lien Debt, 12/21/2024 Maturity, 3
Interest rate, unfunded		1.00%	[16]	1.00%	[16]		1.00%	[19]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ (23)
Fair Value, Ending Balance		$ (16)		(16)			$ (23)
Principal amount		$ 2,500	[21]	$ 2,500	[21]		$ 3,000
Investment, Identifier [Axis]: Moss Holding Company, Senior Secured First Lien Debt, 4/17/2024 Maturity, 2
Interest rate, unfunded	[16]	6.25%		6.25%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance		$ (1)		$ (1)
Principal amount	[21]	$ 106		$ 106
Investment, Identifier [Axis]: Moss Holding Company, Senior Secured First Lien Debt, 4/17/2024 Maturity, 3
Interest rate, unfunded	[16]	0.50%		0.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance		$ (27)		$ (27)
Principal amount	[21]	$ 2,126		$ 2,126
Investment, Identifier [Axis]: Moss Holding Company., Senior Secured First Lien Debt, 4/17/2024 Maturity, 1
Interest rate basis spread on variable rate		6.25%	[15],[16],[17],[24]	6.25%	[15],[16],[17],[24]		6.25%	[18],[19],[20],[22]
Interest rate, floor		1.00%	[15],[16],[17],[24]	1.00%	[15],[16],[17],[24]		1.00%	[18],[19],[20],[22]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[18],[20],[22]			$ 19,185
Fair Value, Ending Balance		$ 19,232	[15],[17],[24]	19,232	[15],[17],[24]		$ 19,185	[18],[20],[22]
Principal amount		19,475	[15],[17],[21],[24]	19,475	[15],[17],[21],[24]		$ 19,576	[18],[20],[22]
Investment, Identifier [Axis]: Moss Holding Company., Senior Secured First Lien Debt, 4/17/2024 Maturity, 2
Interest rate, unfunded	[19]						6.25%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				(2)
Fair Value, Ending Balance							$ (2)
Principal amount							$ 106
Investment, Identifier [Axis]: Moss Holding Company., Senior Secured First Lien Debt, 4/17/2024 Maturity, 3
Interest rate, unfunded	[19]						0.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				(43)
Fair Value, Ending Balance							$ (43)
Principal amount							2,126
Investment, Identifier [Axis]: Mount Logan Capital Inc., Common Stock, Non-Controlled, Affiliated Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				2,341		3,404	3,404
Gross Additions Cost				0	[3]		0	[4]
Gross Reductions Cost				0	[5]		0	[6]
Net Unrealized Gain (Loss)				(75)			(1,063)
Fair Value, Ending Balance		2,266		2,266			2,341
Net Realized Gain (Loss)				0			0
Interest Income				0	[7]		0	[8]
Dividend Income				27			54
Fee income				0
Investment, Identifier [Axis]: Mount Logan Capital Inc., Common Stock., Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[28],[29],[56]			2,341
Fair Value, Ending Balance		2,266	[26],[31],[57]	2,266	[26],[31],[57]		2,341	[28],[29],[56]
Investment, Identifier [Axis]: NS NWN Acquisition, LLC, Class A Preferred Units., Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[30]			909
Fair Value, Ending Balance		1,338	[32]	1,338	[32]		909	[30]
Investment, Identifier [Axis]: NS NWN Acquisition, LLC, Common Equity, Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[30]			0
Fair Value, Ending Balance		0	[32]	0	[32]		0	[30]
Investment, Identifier [Axis]: NS NWN Holdco LLC, Non-Voting Units, Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[32]	295		295
Investment, Identifier [Axis]: NS NWN Holdco LLC, Non-Voting Units., Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[30]			200
Fair Value, Ending Balance	[30]						200
Investment, Identifier [Axis]: NSG Co-Invest (Bermuda) LP, Partnership Interests., Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[28],[30]			664
Fair Value, Ending Balance		$ 887	[26],[32]	$ 887	[26],[32]		$ 664	[28],[30]
Investment, Identifier [Axis]: NWN Parent Holdings LLC., Senior Secured First Lien Debt, 5/7/2026 Maturity, 1
Interest rate basis spread on variable rate		8.00%	[16],[17],[24]	8.00%	[16],[17],[24]		8.00%	[19],[22],[23]
Interest rate, floor		1.00%	[16],[17],[24]	1.00%	[16],[17],[24]		1.00%	[19],[22],[23]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[23]			$ 12,643
Fair Value, Ending Balance		$ 12,494	[17],[24]	12,494	[17],[24]		$ 12,643	[22],[23]
Principal amount		$ 12,604	[17],[21],[24]	$ 12,604	[17],[21],[24]		$ 12,755	[22],[23]
Investment, Identifier [Axis]: NWN Parent Holdings LLC., Senior Secured First Lien Debt, 5/7/2026 Maturity, 2
Interest rate basis spread on variable rate		8.00%	[16],[17]	8.00%	[16],[17]		8.00%	[19],[23]
Interest rate, floor		1.00%	[16],[17]	1.00%	[16],[17]		1.00%	[19],[23]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[23]			$ 803
Fair Value, Ending Balance		$ 595	[17]	595	[17]		$ 803	[23]
Principal amount		$ 600	[17],[21]	$ 600	[17],[21]		$ 810	[23]
Investment, Identifier [Axis]: NWN Parent Holdings LLC., Senior Secured First Lien Debt, 5/7/2026 Maturity, 3
Interest rate, unfunded		0.50%	[16]	0.50%	[16]		0.50%	[19]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ (1)
Fair Value, Ending Balance		$ (11)		(11)			$ (1)
Principal amount		1,200	[21]	1,200	[21]		$ 90
Investment, Identifier [Axis]: Neptune Flood Inc., Senior Secured First Lien Debt, 10/21/2026 Maturity
Interest rate basis spread on variable rate	[19],[22],[23]						6.00%
Interest rate, floor	[19],[22],[23]						1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[23]			7,867
Fair Value, Ending Balance	[22],[23]						$ 7,867
Principal amount	[22],[23]						7,789
Investment, Identifier [Axis]: New Giving Acquisition, Inc., Warrants, Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[30]			786
Fair Value, Ending Balance		$ 1,394	[32]	$ 1,394	[32]		$ 786	[30]
Investment, Identifier [Axis]: NewsCycle Solutions, Inc., Senior Secured First Lien Debt, 12/29/2023 Maturity
Interest rate basis spread on variable rate		7.00%	[15],[16],[17],[24]	7.00%	[15],[16],[17],[24]		7.00%	[18],[19],[22],[23]
Interest rate, floor		1.00%	[15],[16],[17],[24]	1.00%	[15],[16],[17],[24]		1.00%	[18],[19],[22],[23]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[18],[22],[23]			$ 12,444
Fair Value, Ending Balance		$ 12,396	[15],[17],[24]	12,396	[15],[17],[24]		$ 12,444	[18],[22],[23]
Principal amount		$ 12,381	[15],[17],[21],[24]	$ 12,381	[15],[17],[21],[24]		$ 12,444	[18],[22],[23]
Investment, Identifier [Axis]: OpCo Borrower, LLC., Senior Secured First Lien Debt, 8/19/2027 Maturity, 1
Interest rate basis spread on variable rate		6.50%	[16],[24],[43]	6.50%	[16],[24],[43]		6.50%	[19],[22],[42]
Interest rate, floor		1.00%	[16],[24],[43]	1.00%	[16],[24],[43]		1.00%	[19],[22],[42]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[42]			$ 11,387
Fair Value, Ending Balance		$ 11,328	[24],[43]	11,328	[24],[43]		$ 11,387	[22],[42]
Principal amount		$ 11,243	[21],[24],[43]	11,243	[21],[24],[43]		$ 11,387	[22],[42]
Investment, Identifier [Axis]: OpCo Borrower, LLC., Senior Secured First Lien Debt, 8/19/2027 Maturity, 2
Interest rate basis spread on variable rate	[19],[42]						6.50%
Interest rate, floor	[19],[42]						1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[42]			$ 208
Fair Value, Ending Balance	[42]						$ 208
Principal amount	[42]						$ 208
Investment, Identifier [Axis]: OpCo Borrower, LLC., Senior Secured First Lien Debt, 8/19/2027 Maturity, 3
Interest rate, unfunded		0.50%	[16]	0.50%	[16]		0.50%	[19]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ 0
Fair Value, Ending Balance		$ 8		8			$ 0
Principal amount		$ 1,042	[21]	$ 1,042	[21]		$ 833
Investment, Identifier [Axis]: OpCo Borrower, LLC., Senior Secured Second Lien Debt, 2/19/2028 Maturity
Interest rate		12.50%	[16],[24]	12.50%	[16],[24]		12.50%	[19],[22]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22]			$ 11,312
Fair Value, Ending Balance		$ 11,500	[24]	$ 11,500	[24]		$ 11,312	[22]
All-in-Rate		12.50%	[16],[24]	12.50%	[16],[24]		12.50%	[19],[22]
Principal amount		$ 12,500	[21],[24]	$ 12,500	[21],[24]		$ 12,500	[22]
Investment, Identifier [Axis]: Optio Rx, LLC., Senior Secured First Lien Debt, 6/28/2024 Maturity, 1
Interest rate basis spread on variable rate	[18],[19],[22],[37]						7.00%
Interest rate, floor	[18],[19],[22],[37]						0.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[18],[22],[37]			15,749
Fair Value, Ending Balance	[18],[22],[37]						$ 15,749
Principal amount	[18],[22],[37]						$ 15,929
Investment, Identifier [Axis]: Optio Rx, LLC., Senior Secured First Lien Debt, 6/28/2024 Maturity, 2
Interest rate basis spread on variable rate	[18],[19],[37]						10.00%
Interest rate, floor	[18],[19],[37]						0.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[18],[37]			$ 2,615
Fair Value, Ending Balance	[18],[37]						$ 2,615
Principal amount	[18],[37]						$ 2,515
Investment, Identifier [Axis]: Optio Rx, LLC., Senior Secured First Lien Debt, 6/28/2028 Maturity, 1
Interest rate basis spread on variable rate	[15],[16],[24],[36]	7.00%		7.00%
Interest rate, floor	[15],[16],[24],[36]	0.00%		0.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[15],[24],[36]	$ 15,526		$ 15,526
Principal amount	[15],[21],[24],[36]	$ 15,585		$ 15,585
Investment, Identifier [Axis]: Optio Rx, LLC., Senior Secured First Lien Debt, 6/28/2028 Maturity, 2
Interest rate basis spread on variable rate	[15],[16],[36]	10.00%		10.00%
Interest rate, floor	[15],[16],[36]	0.00%		0.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[15],[36]	$ 2,578		$ 2,578
Principal amount	[15],[21],[36]	$ 2,515		$ 2,515
Investment, Identifier [Axis]: PH Beauty Holdings III. Inc., Senior Secured First Lien Debt, 9/28/2025 Maturity
Interest rate basis spread on variable rate		5.00%	[16],[24],[34]	5.00%	[16],[24],[34]		5.00%	[19],[22],[23]
Interest rate, floor		0.00%	[16],[24],[34]	0.00%	[16],[24],[34]		0.00%	[19],[22],[23]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[23]			$ 8,677
Fair Value, Ending Balance		$ 8,727	[24],[34]	8,727	[24],[34]		$ 8,677	[22],[23]
Principal amount		$ 9,525	[21],[24],[34]	$ 9,525	[21],[24],[34]		9,575	[22],[23]
Investment, Identifier [Axis]: PRA Acquisition, LLC, 5/12/2028 Maturity
Interest rate basis spread on variable rate	[15],[16],[17]	6.50%		6.50%
Interest rate, floor	[15],[16],[17]	1.00%		1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[15],[17]	$ 20,000		$ 20,000
Principal amount	[15],[17],[21]	20,000		20,000
Investment, Identifier [Axis]: Palmetto Clean Technology, Inc., Warrants., Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[30]			3,867
Fair Value, Ending Balance		$ 3,287	[32]	$ 3,287	[32]		$ 3,867	[30]
Investment, Identifier [Axis]: Pentec Acquisition Corp., Senior Secured First Lien Debt, 10/8/2026 Maturity
Interest rate basis spread on variable rate		6.00%	[16],[24],[43]	6.00%	[16],[24],[43]		6.00%	[19],[22],[37]
Interest rate, floor		1.00%	[16],[24],[43]	1.00%	[16],[24],[43]		1.00%	[19],[22],[37]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[37]			$ 24,750
Fair Value, Ending Balance		$ 24,687	[24],[43]	24,687	[24],[43]		$ 24,750	[22],[37]
Principal amount		$ 24,625	[21],[24],[43]	$ 24,625	[21],[24],[43]		$ 24,750	[22],[37]
Investment, Identifier [Axis]: Playboy Enterprises, Inc., Senior Secured First Lien Debt, 5/25/2027 Maturity
Interest rate basis spread on variable rate		4.25%	[15],[16],[17],[26]	4.25%	[15],[16],[17],[26]		6.25%	[18],[19],[23],[28]
Interest rate, floor		0.50%	[15],[16],[17],[26]	0.50%	[15],[16],[17],[26]		0.50%	[18],[19],[23],[28]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[18],[23],[28]			$ 24,257
Fair Value, Ending Balance		$ 19,234	[15],[17],[26]	19,234	[15],[17],[26]		$ 24,257	[18],[23],[28]
Principal amount		$ 19,527	[15],[17],[21],[26]	$ 19,527	[15],[17],[21],[26]		$ 25,202	[18],[23],[28]
Investment, Identifier [Axis]: Project Castle, Inc., Senior Secured First Lien Debt, 6/1/2029 Maturity
Interest rate basis spread on variable rate		5.50%	[16],[17],[24]	5.50%	[16],[17],[24]		5.50%	[19],[20],[22]
Interest rate, floor		0.50%	[16],[17],[24]	0.50%	[16],[17],[24]		0.50%	[19],[20],[22]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[20],[22]			$ 8,117
Fair Value, Ending Balance		$ 6,741	[17],[24]	6,741	[17],[24]		$ 8,117	[20],[22]
Principal amount		$ 7,930	[17],[21],[24]	$ 7,930	[17],[21],[24]		$ 9,975	[20],[22]
Investment, Identifier [Axis]: R. R. Donnelley & Sons Company , 3/22/2028 Maturity
Interest rate basis spread on variable rate	[16]	7.25%		7.25%
Interest rate, floor	[16]	0.75%		0.75%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance		$ 12,535		$ 12,535
Principal amount	[21]	$ 12,582		$ 12,582
Investment, Identifier [Axis]: RA Outdoors, LLC, Senior Secured Second Lien Debt, 10/8/2026 Maturity
Interest rate basis spread on variable rate	[16],[17],[24]	9.00%		9.00%
Interest rate, floor	[16],[17],[24]	1.00%		1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[17],[24]	$ 1,818		$ 1,818
Principal amount	[17],[21],[24]	$ 1,818		$ 1,818
Investment, Identifier [Axis]: RA Outdoors, LLC., Senior Secured First Lien Debt, 4/8/2026 Maturity, 1
Interest rate basis spread on variable rate		6.75%	[16],[17],[24]	6.75%	[16],[17],[24]		6.75%	[19],[20],[22]
Interest rate, floor		1.00%	[16],[17],[24]	1.00%	[16],[17],[24]		1.00%	[19],[20],[22]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[20],[22]			$ 10,938
Fair Value, Ending Balance		$ 10,979	[17],[24]	10,979	[17],[24]		$ 10,938	[20],[22]
Principal amount		$ 10,979	[17],[21],[24]	10,979	[17],[21],[24]		$ 10,979	[20],[22]
Investment, Identifier [Axis]: RA Outdoors, LLC., Senior Secured First Lien Debt, 4/8/2026 Maturity, 2
Interest rate, unfunded	[19]						0.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ (1)
Fair Value, Ending Balance							$ (1)
Principal amount							$ 1,049
Investment, Identifier [Axis]: RA Outdoors, LLC., Senior Secured First Lien Debt, 4/8/2026 Maturity, 3
Interest rate, unfunded	[16]	0.50%		0.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance		$ 0		$ 0
Principal amount	[21]	$ 1,049		1,049
Investment, Identifier [Axis]: RA Outdoors, LLC., Senior Secured Second Lien Debt, 10/8/2026 Maturity
Interest rate basis spread on variable rate	[19],[20],[22]						9.00%
Interest rate, floor	[19],[20],[22]						1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[20],[22]			$ 1,825
Fair Value, Ending Balance	[20],[22]						$ 1,825
Principal amount	[20],[22]						$ 1,827
Investment, Identifier [Axis]: Retail Services WIS Corp., Senior Secured First Lien Debt, 5/20/2025 Maturity
Interest rate basis spread on variable rate		7.75%	[16],[17],[24]	7.75%	[16],[17],[24]		7.75%	[19],[22],[23]
Interest rate, floor		1.00%	[16],[17],[24]	1.00%	[16],[17],[24]		1.00%	[19],[22],[23]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[23]			$ 9,357
Fair Value, Ending Balance		$ 9,297	[17],[24]	9,297	[17],[24]		$ 9,357	[22],[23]
Principal amount		$ 9,297	[17],[21],[24]	$ 9,297	[17],[21],[24]		$ 9,548	[22],[23]
Investment, Identifier [Axis]: Robert C. Hilliard, L.L.P., Senior Secured First Lien Debt
Interest rate		17.27%		17.27%			16.24%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash		0.00%		0.00%			0.00%
PIK		17.27%		17.27%			16.24%
All-in-Rate		17.27%		17.27%			16.24%
Investment, Identifier [Axis]: Robert C. Hilliard, L.L.P., Senior Secured First Lien Debt, 12/17/2023 Maturity
Interest rate basis spread on variable rate		12.00%	[16],[24],[33],[43]	12.00%	[16],[24],[33],[43]		12.00%	[19],[22],[35],[37]
Interest rate, floor		2.00%	[16],[24],[33],[43]	2.00%	[16],[24],[33],[43]		2.00%	[19],[22],[35],[37]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[35],[37]			$ 1,815
Fair Value, Ending Balance		$ 1,976	[24],[33],[43]	1,976	[24],[33],[43]		$ 1,815	[22],[35],[37]
Principal amount		$ 1,973	[21],[24],[33],[43]	$ 1,973	[21],[24],[33],[43]		$ 1,815	[22],[35],[37]
Investment, Identifier [Axis]: Rogers Mechanical Contractors, LLC, Senior Secured First Lien Debt
Interest rate		13.09%		13.09%			12.70%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash		12.09%		12.09%			11.70%
PIK		1.00%		1.00%			1.00%
All-in-Rate		13.09%		13.09%			12.70%
Investment, Identifier [Axis]: Rogers Mechanical Contractors, LLC., Senior Secured First Lien Debt, 9/9/2025 Maturity, 1
Interest rate basis spread on variable rate		8.00%	[16],[24],[33],[38]	8.00%	[16],[24],[33],[38]		8.00%	[19],[20],[22],[35]
Interest rate, floor		1.00%	[16],[24],[33],[38]	1.00%	[16],[24],[33],[38]		1.00%	[19],[20],[22],[35]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[20],[22],[35]			$ 16,324
Fair Value, Ending Balance		$ 15,217	[24],[33],[38]	15,217	[24],[33],[38]		$ 16,324	[20],[22],[35]
Principal amount		$ 15,275	[21],[24],[33],[38]	$ 15,275	[21],[24],[33],[38]		$ 16,365	[20],[22],[35]
Investment, Identifier [Axis]: Rogers Mechanical Contractors, LLC., Senior Secured First Lien Debt, 9/9/2025 Maturity, 2
Interest rate basis spread on variable rate		8.00%	[16],[24],[33],[38]	8.00%	[16],[24],[33],[38]		8.00%	[19],[20],[35]
Interest rate, floor		1.00%	[16],[24],[33],[38]	1.00%	[16],[24],[33],[38]		1.00%	[19],[20],[35]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[20],[35]			$ 959
Fair Value, Ending Balance		$ 896	[24],[33],[38]	896	[24],[33],[38]		$ 959	[20],[35]
Principal amount		$ 899	[21],[24],[33],[38]	$ 899	[21],[24],[33],[38]		$ 962	[20],[35]
Investment, Identifier [Axis]: Rogers Mechanical Contractors, LLC., Senior Secured First Lien Debt, 9/9/2025 Maturity, 3
Interest rate, unfunded		0.75%	[16]	0.75%	[16]		1.00%	[19]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ (2)
Fair Value, Ending Balance		$ (9)		(9)			$ (2)
Principal amount		$ 2,404	[21]	2,404	[21]		$ 962
Investment, Identifier [Axis]: Rogers Mechanical Contractors, LLC., Senior Secured First Lien Debt, 9/9/2025 Maturity, 4
Interest rate, unfunded	[19]						0.75%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				(6)
Fair Value, Ending Balance							$ (6)
Principal amount							$ 2,404
Investment, Identifier [Axis]: RumbleOn, Inc., Senior Secured First Lien Debt, 2/28/2023 Maturity, 3
Interest rate, unfunded	[19],[30]						0.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[30]			$ (98)
Fair Value, Ending Balance	[30]						$ (98)
Principal amount	[30]						$ 1,775
Investment, Identifier [Axis]: RumbleOn, Inc., Senior Secured First Lien Debt, 8/31/2026 Maturity, 1
Interest rate basis spread on variable rate		8.25%	[16],[17],[24]	8.25%	[16],[17],[24]		8.25%	[19],[22],[23]
Interest rate, floor		1.00%	[16],[17],[24]	1.00%	[16],[17],[24]		1.00%	[19],[22],[23]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[23]			$ 12,554
Fair Value, Ending Balance		$ 12,461	[17],[24]	12,461	[17],[24]		$ 12,554	[22],[23]
Principal amount		$ 13,221	[17],[21],[24]	$ 13,221	[17],[21],[24]		$ 13,284	[22],[23]
Investment, Identifier [Axis]: RumbleOn, Inc., Senior Secured First Lien Debt, 8/31/2026 Maturity, 2
Interest rate basis spread on variable rate		8.25%	[16],[17],[24]	8.25%	[16],[17],[24]		8.25%	[19],[23]
Interest rate, floor		1.00%	[16],[17],[24]	1.00%	[16],[17],[24]		1.00%	[19],[23]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[23]			$ 3,798
Fair Value, Ending Balance		$ 3,770	[17],[24]	3,770	[17],[24]		$ 3,798	[23]
Principal amount		4,000	[17],[21],[24]	4,000	[17],[21],[24]		4,019	[23]
Investment, Identifier [Axis]: RumbleOn, Inc., Warrants., Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[30]			1
Fair Value, Ending Balance		0	[32]	0	[32]		1	[30]
Investment, Identifier [Axis]: SIMR Parent, LLC, Class B Membership Units, Non-Controlled, Affiliated Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				0		0	0
Gross Additions Cost	[4]						0
Gross Reductions Cost	[6]						(8,002)
Net Unrealized Gain (Loss)							8,002
Fair Value, Ending Balance							0
Net Realized Gain (Loss)							(8,002)
Interest Income	[8]						0
Dividend Income							0
Investment, Identifier [Axis]: SIMR Parent, LLC, Class W Membership Units, Non-Controlled, Affiliated Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				0		0	0
Gross Additions Cost	[4]						0
Gross Reductions Cost	[6]						0
Net Unrealized Gain (Loss)							0
Fair Value, Ending Balance							0
Net Realized Gain (Loss)							0
Interest Income	[8]						0
Dividend Income							0
Investment, Identifier [Axis]: SIMR, LLC, First Lien Term Loan, Non-Controlled, Affiliated Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				0		16,000	16,000
Gross Additions Cost	[4]						1,447
Gross Reductions Cost	[6]						(21,261)
Net Unrealized Gain (Loss)							3,814
Fair Value, Ending Balance							0
Net Realized Gain (Loss)							(2,854)
Interest Income	[8]						804
Dividend Income							0
Investment, Identifier [Axis]: SRA Holdings, LLC, Membership Units, Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[31],[32]	23,706		23,706
Investment, Identifier [Axis]: SRA Holdings, LLC, Membership Units, Non-Controlled, Affiliated Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				0
Gross Additions Cost	[3]			23,611
Gross Reductions Cost	[5]			0
Net Unrealized Gain (Loss)				95
Fair Value, Ending Balance		23,706		23,706			$ 0
Net Realized Gain (Loss)				0
Interest Income	[7]			0
Dividend Income				0
Fee income				0
Investment, Identifier [Axis]: STATinMED, LLC 1, Senior Secured First Lien Debt
Interest rate							13.80%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash							0.00%
PIK							13.80%
All-in-Rate							13.80%
Investment, Identifier [Axis]: STATinMED, LLC 2, Senior Secured First Lien Debt
Interest rate							13.94%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash							0.00%
PIK							13.94%
All-in-Rate							13.94%
Investment, Identifier [Axis]: STATinMED, LLC, Delayed Draw First Lien Term Loan, Non-Controlled, Affiliated Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				156		0	$ 0
Gross Additions Cost	[4]						153
Gross Reductions Cost	[6]						0
Net Unrealized Gain (Loss)							3
Fair Value, Ending Balance							156
Net Realized Gain (Loss)							0
Interest Income	[8]						0
Dividend Income							0
Investment, Identifier [Axis]: STATinMED, LLC, First Lien Term Loan, Non-Controlled, Affiliated Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				9,107		0	0
Gross Additions Cost				683	[3]		9,472	[4]
Gross Reductions Cost				0	[5]		(250)	[6]
Net Unrealized Gain (Loss)				(133)			(115)
Fair Value, Ending Balance		$ 9,657		9,657			9,107
Net Realized Gain (Loss)				0			0
Interest Income				696	[7]		719	[8]
Dividend Income				0			$ 0
Fee income				$ 0
Investment, Identifier [Axis]: STATinMED, LLC, Senior Secured First Lien Debt
Interest rate		14.79%		14.79%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash		0.00%		0.00%
PIK		14.79%		14.79%
All-in-Rate		14.79%		14.79%
Investment, Identifier [Axis]: STATinMED, LLC., Senior Secured First Lien Debt, 3/31/2023 Maturity 2
Interest rate basis spread on variable rate	[19],[29],[35],[42]						9.50%
Interest rate, floor	[19],[29],[35],[42]						2.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[29],[35],[42]			$ 156
Fair Value, Ending Balance	[29],[35],[42]						$ 156
Principal amount	[29],[35],[42]						$ 156
Investment, Identifier [Axis]: STATinMED, LLC., Senior Secured First Lien Debt, 3/31/2023 Maturity 3
Interest rate, unfunded	[19],[29],[30]						0.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[29],[30]			0
Fair Value, Ending Balance	[29],[30]						$ 0
Principal amount	[29],[30]						$ 156
Investment, Identifier [Axis]: STATinMED, LLC., Senior Secured First Lien Debt, 7/1/2027 Maturity 1
Interest rate basis spread on variable rate	[19],[29],[35],[42]						9.50%
Interest rate, floor	[19],[29],[35],[42]						2.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[29],[35],[42]			$ 9,107
Fair Value, Ending Balance	[29],[35],[42]						$ 9,107
Principal amount	[29],[35],[42]						9,222
Investment, Identifier [Axis]: STATinMED, LLC., Senior Secured First Lien Debt, 7/1/2027 Maturity, 1
Interest rate basis spread on variable rate	[16],[31],[33],[43]	9.50%		9.50%
Interest rate, floor	[16],[31],[33],[43]	2.00%		2.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[31],[33],[43]	$ 9,657		$ 9,657
Principal amount	[21],[31],[33],[43]	9,905		9,905
Investment, Identifier [Axis]: STATinMed Parent, LLC, Class A Preferred Units, Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[31],[32]	2,526		2,526
Investment, Identifier [Axis]: STATinMed Parent, LLC, Class A Preferred Units, Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[29],[30]			4,530
Fair Value, Ending Balance	[29],[30]						4,530
Investment, Identifier [Axis]: STATinMed Parent, LLC, Class A Preferred Units, Non-Controlled, Affiliated Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				4,530		0	0
Gross Additions Cost				0	[3]		6,182	[4]
Gross Reductions Cost				0	[5]		0	[6]
Net Unrealized Gain (Loss)				(2,004)			(1,652)
Fair Value, Ending Balance		2,526		2,526			4,530
Net Realized Gain (Loss)				0			0
Interest Income				0	[7]		0	[8]
Dividend Income				0			0
Fee income				0
Investment, Identifier [Axis]: STATinMed Parent, LLC, Class B Preferred Units, Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[31],[32]	0		0
Investment, Identifier [Axis]: STATinMed Parent, LLC, Class B Preferred Units, Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[29],[30]			134
Fair Value, Ending Balance	[29],[30]						134
Investment, Identifier [Axis]: STATinMed Parent, LLC, Class B Preferred Units, Non-Controlled, Affiliated Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				134		0	0
Gross Additions Cost				0	[3]		3,193	[4]
Gross Reductions Cost				0	[5]		0	[6]
Net Unrealized Gain (Loss)				(134)			(3,059)
Fair Value, Ending Balance		$ 0		0			134
Net Realized Gain (Loss)				0			0
Interest Income				0	[7]		0	[8]
Dividend Income				0			$ 0
Fee income				$ 0
Investment, Identifier [Axis]: Securus Technologies Holdings, Inc., Senior Secured First Lien Debt, 11/1/2024 Maturity
Interest rate basis spread on variable rate		4.50%	[16],[24],[34]	4.50%	[16],[24],[34]		4.50%	[19],[22],[23]
Interest rate, floor		1.00%	[16],[24],[34]	1.00%	[16],[24],[34]		1.00%	[19],[22],[23]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[23]			$ 3,848
Fair Value, Ending Balance		$ 3,852	[24],[34]	3,852	[24],[34]		$ 3,848	[22],[23]
Principal amount		$ 3,847	[21],[24],[34]	$ 3,847	[21],[24],[34]		$ 3,868	[22],[23]
Investment, Identifier [Axis]: Securus Technologies Holdings, Inc., Senior Secured Second Lien Debt, 11/1/2025 Maturity
Interest rate basis spread on variable rate		8.25%	[16],[34]	8.25%	[16],[34]		8.25%	[19],[23]
Interest rate, floor		1.00%	[16],[34]	1.00%	[16],[34]		1.00%	[19],[23]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[23]			$ 2,884
Fair Value, Ending Balance		$ 2,895	[34]	2,895	[34]		$ 2,884	[23]
Principal amount		$ 2,942	[21],[34]	$ 2,942	[21],[34]		$ 2,942	[23]
Investment, Identifier [Axis]: Sequoia Healthcare Management, LLC., Senior Secured First Lien Debt, 11/4/2023 Maturity
Interest rate, unfunded	[18],[19],[22],[40]						12.75%
Interest rate	[15],[16],[24]	12.75%		12.75%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[18],[22],[40]			$ 10,209
Fair Value, Ending Balance		$ 8,024	[15],[24]	$ 8,024	[15],[24]		$ 10,209	[18],[22],[40]
All-in-Rate	[15],[16],[24]	12.75%		12.75%
Principal amount		$ 8,525	[15],[21],[24]	$ 8,525	[15],[21],[24]		$ 8,525	[18],[22],[40]
Investment, Identifier [Axis]: Service Compression, LLC, Senior Secured First Lien Debt
Interest rate		15.20%		15.20%			14.83%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash		13.20%		13.20%			12.83%
PIK		2.00%		2.00%			2.00%
All-in-Rate		15.20%		15.20%			14.83%
Investment, Identifier [Axis]: Service Compression, LLC, Warrants(o), Energy: Oil & Gas, N/A
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[30]			$ 441
Fair Value, Ending Balance	[30]						$ 441
Investment, Identifier [Axis]: Service Compression, LLC, Warrants., Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[32]	$ 970		$ 970
Investment, Identifier [Axis]: Service Compression, LLC., Senior Secured First Lien Debt, 5/5/2025 Maturity
Interest rate, unfunded	[16]	0.50%		0.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance		$ 7		$ 7
Principal amount	[21]	$ 907		907
Investment, Identifier [Axis]: Service Compression, LLC., Senior Secured First Lien Debt, 5/6/2025 Maturity, 3
Interest rate, unfunded	[19]						0.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ (31)
Fair Value, Ending Balance							$ (31)
Principal amount							$ 4,186
Investment, Identifier [Axis]: Service Compression, LLC., Senior Secured First Lien Debt, 5/6/2027 Maturity, 1
Interest rate basis spread on variable rate		10.00%	[16],[17],[24],[33]	10.00%	[16],[17],[24],[33]		10.00%	[19],[20],[22],[35]
Interest rate, floor		1.00%	[16],[17],[24],[33]	1.00%	[16],[17],[24],[33]		1.00%	[19],[20],[22],[35]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[20],[22],[35]			$ 22,803
Fair Value, Ending Balance		$ 23,382	[17],[24],[33]	23,382	[17],[24],[33]		$ 22,803	[20],[22],[35]
Principal amount		$ 23,208	[17],[21],[24],[33]	$ 23,208	[17],[21],[24],[33]		$ 22,975	[20],[22],[35]
Investment, Identifier [Axis]: Service Compression, LLC., Senior Secured First Lien Debt, 5/6/2027 Maturity, 2
Interest rate basis spread on variable rate		10.00%	[16],[17],[24],[33]	10.00%	[16],[17],[24],[33]		10.00%	[19],[20]
Interest rate, floor		1.00%	[16],[17],[24],[33]	1.00%	[16],[17],[24],[33]		1.00%	[19],[20]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[20]			$ 3,127
Fair Value, Ending Balance		$ 6,526	[17],[24],[33]	6,526	[17],[24],[33]		$ 3,127	[20]
Principal amount		$ 6,477	[17],[21],[24],[33]	$ 6,477	[17],[21],[24],[33]		$ 3,151	[20]
Investment, Identifier [Axis]: Sleep Opco, LLC., Senior Secured First Lien Debt, 10/12/2026 Maturity, 1
Interest rate basis spread on variable rate		7.00%	[16],[17],[24]	7.00%	[16],[17],[24]		6.50%	[19],[22],[23]
Interest rate, floor		1.00%	[16],[17],[24]	1.00%	[16],[17],[24]		1.00%	[19],[22],[23]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[23]			$ 13,641
Fair Value, Ending Balance		$ 13,602	[17],[24]	13,602	[17],[24]		$ 13,641	[22],[23]
Principal amount		$ 13,704	[17],[21],[24]	$ 13,704	[17],[21],[24]		$ 13,779	[22],[23]
Investment, Identifier [Axis]: Sleep Opco, LLC., Senior Secured First Lien Debt, 10/12/2026 Maturity, 2
Interest rate basis spread on variable rate	[16],[17]	6.50%		6.50%
Interest rate, floor	[16],[17]	1.00%		1.00%
Interest rate, unfunded	[19]						0.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ (18)
Fair Value, Ending Balance		$ 546	[17]	546	[17]		$ (18)
Principal amount		$ 550	[17],[21]	$ 550	[17],[21]		1,750
Investment, Identifier [Axis]: Sleep Opco, LLC., Senior Secured First Lien Debt, 10/12/2026 Maturity, 3
Interest rate basis spread on variable rate	[16],[17],[24]	7.00%		7.00%
Interest rate, floor	[16],[17],[24]	1.00%		1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[17],[24]	$ 402		$ 402
Principal amount	[17],[21],[24]	$ 399		$ 399
Investment, Identifier [Axis]: Sleep Opco, LLC., Senior Secured First Lien Debt, 10/12/2026 Maturity, 4
Interest rate, unfunded	[16]	0.50%		0.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance		$ (9)		$ (9)
Principal amount	[21]	1,200		1,200
Investment, Identifier [Axis]: Snap Fitness Holdings, Inc., Class A Common Stock., Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[29],[30]			5,123
Fair Value, Ending Balance		4,936	[31],[32]	4,936	[31],[32]		5,123	[29],[30]
Investment, Identifier [Axis]: Snap Fitness Holdings, Inc., Class A Stock, Non-Controlled, Affiliated Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				5,123		3,131	3,131
Gross Additions Cost				0	[3]		0	[4]
Gross Reductions Cost				0	[5]		0	[6]
Net Unrealized Gain (Loss)				(187)			1,992
Fair Value, Ending Balance		4,936		4,936			5,123
Net Realized Gain (Loss)				0			0
Interest Income				0	[7]		0	[8]
Dividend Income				0			0
Fee income				0
Investment, Identifier [Axis]: Snap Fitness Holdings, Inc., Warrants, Non-Controlled, Affiliated Investments
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				2,077		$ 1,269	1,269
Gross Additions Cost				0	[3]		0	[4]
Gross Reductions Cost				0	[5]		0	[6]
Net Unrealized Gain (Loss)				(76)			808
Fair Value, Ending Balance		2,001		2,001			2,077
Net Realized Gain (Loss)				0			0
Interest Income				0	[7]		0	[8]
Dividend Income				0			0
Fee income				0
Investment, Identifier [Axis]: Snap Fitness Holdings, Inc., Warrants., Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[29],[30]			2,077
Fair Value, Ending Balance		$ 2,001	[31],[32]	$ 2,001	[31],[32]		$ 2,077	[29],[30]
Investment, Identifier [Axis]: Spinal USA, Inc. / Precision Medical Inc., Senior Secured First Lien Debt
Interest rate		14.68%		14.68%			13.24%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash		0.00%		0.00%			0.00%
PIK		14.68%		14.68%			13.24%
All-in-Rate		14.68%		14.68%			13.24%
Investment, Identifier [Axis]: Spinal USA, Inc. / Precision Medical Inc., Senior Secured First Lien Debt, 11/29/2023 Maturity, 1
Interest rate basis spread on variable rate	[16],[33],[34]	9.50%		9.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[33],[34]	$ 7,748		$ 7,748
Principal amount	[21],[33],[34]	$ 14,349		$ 14,349
Investment, Identifier [Axis]: Spinal USA, Inc. / Precision Medical Inc., Senior Secured First Lien Debt, 11/29/2023 Maturity, 2
Interest rate basis spread on variable rate	[16],[33],[34]	9.50%		9.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[33],[34]	$ 650		$ 650
Principal amount	[21],[33],[34]	$ 1,275		$ 1,275
Investment, Identifier [Axis]: Spinal USA, Inc. / Precision Medical Inc., Senior Secured First Lien Debt, 11/29/2023 Maturity, 3
Interest rate basis spread on variable rate	[16],[33],[34]	9.50%		9.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[33],[34]	$ 418		$ 418
Principal amount	[21],[33],[34]	$ 820		$ 820
Investment, Identifier [Axis]: Spinal USA, Inc. / Precision Medical Inc., Senior Secured First Lien Debt, 11/29/2023 Maturity, 4
Interest rate basis spread on variable rate	[16],[33],[34]	9.50%		9.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[33],[34]	$ 397		$ 397
Principal amount	[21],[33],[34]	$ 778		$ 778
Investment, Identifier [Axis]: Spinal USA, Inc. / Precision Medical Inc., Senior Secured First Lien Debt, 11/29/2023 Maturity, 5
Interest rate basis spread on variable rate	[16],[33],[34]	9.50%		9.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[33],[34]	$ 351		$ 351
Principal amount	[21],[33],[34]	$ 649		$ 649
Investment, Identifier [Axis]: Spinal USA, Inc. / Precision Medical Inc., Senior Secured First Lien Debt, 11/29/2023 Maturity, 6
Interest rate basis spread on variable rate	[16],[33],[34]	9.50%		9.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[33],[34]	$ 599		$ 599
Principal amount	[21],[33],[34]	$ 593		593
Investment, Identifier [Axis]: Spinal USA, Inc. / Precision Medical Inc., Senior Secured First Lien Debt, 5/29/2023 Maturity, 1
Interest rate basis spread on variable rate	[19],[22],[23],[35]						9.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[23],[35]			9,649
Fair Value, Ending Balance	[22],[23],[35]						$ 9,649
Principal amount	[22],[23],[35]						$ 13,401
Investment, Identifier [Axis]: Spinal USA, Inc. / Precision Medical Inc., Senior Secured First Lien Debt, 5/29/2023 Maturity, 2
Interest rate basis spread on variable rate	[19],[22],[23],[35]						9.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[23],[35]			816
Fair Value, Ending Balance	[22],[23],[35]						$ 816
Principal amount	[22],[23],[35]						$ 1,191
Investment, Identifier [Axis]: Spinal USA, Inc. / Precision Medical Inc., Senior Secured First Lien Debt, 5/29/2023 Maturity, 3
Interest rate basis spread on variable rate	[19],[22],[23],[35]						9.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[23],[35]			521
Fair Value, Ending Balance	[22],[23],[35]						$ 521
Principal amount	[22],[23],[35]						$ 766
Investment, Identifier [Axis]: Spinal USA, Inc. / Precision Medical Inc., Senior Secured First Lien Debt, 5/29/2023 Maturity, 4
Interest rate basis spread on variable rate	[19],[22],[23],[35]						9.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[23],[35]			498
Fair Value, Ending Balance	[22],[23],[35]						$ 498
Principal amount	[22],[23],[35]						$ 727
Investment, Identifier [Axis]: Spinal USA, Inc. / Precision Medical Inc., Senior Secured First Lien Debt, 5/29/2023 Maturity, 5
Interest rate basis spread on variable rate	[19],[22],[23],[35]						9.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[23],[35]			446
Fair Value, Ending Balance	[22],[23],[35]						$ 446
Principal amount	[22],[23],[35]						$ 607
Investment, Identifier [Axis]: TMK Hawk Parent, Corp., Senior Secured Second Lien Debt, 8/28/2025 Maturity
Interest rate basis spread on variable rate	[19],[23]						8.00%
Interest rate, floor	[19],[23]						1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[23]			$ 11,334
Fair Value, Ending Balance	[23]						$ 11,334
Principal amount	[23]						$ 13,393
Investment, Identifier [Axis]: TMK Hawk Parent, Corp., Senior Secured Second Lien Debt, 9/26/2025 Maturity
Interest rate basis spread on variable rate	[16],[34]	8.00%		8.00%
Interest rate, floor	[16],[34]	1.00%		1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[34]	$ 11,903		$ 11,903
Principal amount	[21],[34]	$ 13,393		$ 13,393
Investment, Identifier [Axis]: Thrill Holdings LLC., Senior Secured First Lien Debt, 5/27/2024 Maturity, 3
Interest rate, unfunded	[16]	1.00%		1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance		$ 0		$ 0
Principal amount	[21]	$ 3,261		$ 3,261
Investment, Identifier [Axis]: Thrill Holdings LLC., Senior Secured First Lien Debt, 5/27/2027 Maturity, 1
Interest rate basis spread on variable rate		6.50%	[16],[17],[24]	6.50%	[16],[17],[24]		6.50%	[19],[20],[22]
Interest rate, floor		1.00%	[16],[17],[24]	1.00%	[16],[17],[24]		1.00%	[19],[20],[22]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[20],[22]			$ 20,292
Fair Value, Ending Balance		$ 19,907	[17],[24]	19,907	[17],[24]		$ 20,292	[20],[22]
Principal amount		$ 20,136	[17],[21],[24]	$ 20,136	[17],[21],[24]		$ 20,394	[20],[22]
Investment, Identifier [Axis]: Thrill Holdings LLC., Senior Secured First Lien Debt, 5/27/2027 Maturity, 2
Interest rate, unfunded		0.50%	[16]	0.50%	[16]		1.00%	[19]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ (16)
Fair Value, Ending Balance		$ 0		0			$ (16)
Principal amount		$ 1,739	[21]	1,739	[21]		$ 3,261
Investment, Identifier [Axis]: Thrill Holdings LLC., Senior Secured First Lien Debt, 5/27/2027 Maturity, 3
Interest rate basis spread on variable rate	[19],[20]						6.50%
Interest rate, floor	[19],[20]						1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[20]			$ 1,730
Fair Value, Ending Balance	[20]						$ 1,730
Principal amount	[20]						$ 1,739
Investment, Identifier [Axis]: Trademark Global, LLC, Senior Secured First Lien Debt
Interest rate		12.60%		12.60%			11.57%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash		8.10%		8.10%			7.07%
PIK		4.50%		4.50%			4.50%
All-in-Rate		12.60%		12.60%			11.57%
Investment, Identifier [Axis]: Trademark Global, LLC., Senior Secured First Lien Debt, 7/30/2024 Maturity
Interest rate basis spread on variable rate	[16],[24],[33],[43]	7.50%		7.50%
Interest rate, floor	[16],[24],[33],[43]	1.00%		1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[24],[33],[43]	$ 15,042		$ 15,042
Principal amount	[21],[24],[33],[43]	$ 15,508		15,508
Investment, Identifier [Axis]: Trademark Global, LLC., Senior Secured First Lien Debt, 7/30/2024 Maturity, 1
Interest rate basis spread on variable rate	[19],[35],[37]						7.50%
Interest rate, floor	[19],[35],[37]						1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[35],[37]			$ 14,952
Fair Value, Ending Balance	[35],[37]						$ 14,952
Principal amount	[35],[37]						$ 15,355
Investment, Identifier [Axis]: Trammell, P.C., Senior Secured First Lien Debt
Interest rate		20.72%		20.72%			19.94%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash		0.00%		0.00%			0.00%
PIK		20.72%		20.72%			19.94%
All-in-Rate		20.72%		20.72%			19.94%
Investment, Identifier [Axis]: Trammell, P.C., Senior Secured First Lien Debt, 4/28/2026 Maturity
Interest rate basis spread on variable rate		15.50%	[16],[33],[43]	15.50%	[16],[33],[43]		15.50%	[19],[35],[42]
Interest rate, floor		2.00%	[16],[33],[43]	2.00%	[16],[33],[43]		2.00%	[19],[35],[42]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[35],[42]			$ 14,147
Fair Value, Ending Balance		$ 13,814	[33],[43]	13,814	[33],[43]		$ 14,147	[35],[42]
Principal amount		13,814	[21],[33],[43]	13,814	[21],[33],[43]		$ 14,201	[35],[42]
Investment, Identifier [Axis]: URS Topco, LLC, Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[32]	$ 12,298		$ 12,298
Investment, Identifier [Axis]: Usalco, LLC., Senior Secured First Lien Debt, 10/19/2027 Maturity
Interest rate basis spread on variable rate		6.00%	[16],[24],[43]	6.00%	[16],[24],[43]		6.00%	[19],[22],[23]
Interest rate, floor		1.00%	[16],[24],[43]	1.00%	[16],[24],[43]		1.00%	[19],[22],[23]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[23]			$ 24,441
Fair Value, Ending Balance		$ 24,533	[24],[43]	24,533	[24],[43]		$ 24,441	[22],[23]
Principal amount		$ 24,625	[21],[24],[43]	24,625	[21],[24],[43]		$ 24,750	[22],[23]
Investment, Identifier [Axis]: Vesta Holdings, LLC, Senior Secured First Lien Debt
Interest rate							21.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash							0.00%
PIK							21.50%
All-in-Rate							21.50%
Investment, Identifier [Axis]: Vesta Holdings, LLC., Senior Secured First Lien Debt, 2/25/2024 Maturity 1
Interest rate basis spread on variable rate	[19],[22],[35]						9.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[35]			19,938
Fair Value, Ending Balance	[22],[35]						$ 19,938
Principal amount	[22],[35]						$ 21,071
Investment, Identifier [Axis]: Vesta Holdings, LLC., Senior Secured First Lien Debt, 2/25/2024 Maturity 3
Interest rate basis spread on variable rate	[19],[35]						9.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[35]			793
Fair Value, Ending Balance	[35]						$ 793
Principal amount	[35]						$ 838
Investment, Identifier [Axis]: Vesta Holdings, LLC., Senior Secured First Lien Debt, 3/12/2023 Maturity 2
Interest rate basis spread on variable rate	[19],[20],[22]						10.00%
Interest rate, floor	[19],[20],[22]						1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[20],[22]			10,392
Fair Value, Ending Balance	[20],[22]						$ 10,392
Principal amount	[20],[22]						$ 10,392
Investment, Identifier [Axis]: Volta Charging, LLC., Senior Secured First Lien Debt, 6/19/2024 Maturity, 1
Interest rate	[19],[22]						12.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22]			6,506
Fair Value, Ending Balance	[22]						$ 6,506
All-in-Rate	[19],[22]						12.00%
Principal amount	[22]						$ 5,621
Investment, Identifier [Axis]: Volta Charging, LLC., Senior Secured First Lien Debt, 6/19/2024 Maturity, 2
Interest rate	[19],[22]						12.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22]			$ 1,736
Fair Value, Ending Balance	[22]						$ 1,736
All-in-Rate	[19],[22]						12.00%
Principal amount	[22]						$ 1,500
Investment, Identifier [Axis]: WPLM Acquisition Corp., Unsecured Debt, 11/24/2025 Maturity
Interest rate		15.00%	[16],[33]	15.00%	[16],[33]		15.00%	[35]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[35]			$ 7,327
Fair Value, Ending Balance		$ 7,413	[33]	$ 7,413	[33]		$ 7,327	[35]
All-in-Rate		15.00%	[16],[33]	15.00%	[16],[33]		15.00%	[35]
Principal amount		$ 7,623	[21],[33]	$ 7,623	[21],[33]		$ 7,623	[35]
Investment, Identifier [Axis]: WPLM Acquisition Corp., Unsecured Note
Interest rate		15.00%		15.00%			15.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash		0.00%		0.00%			0.00%
PIK		15.00%		15.00%			15.00%
All-in-Rate		15.00%		15.00%			15.00%
Investment, Identifier [Axis]: Williams Industrial Services Group, Inc., Senior Secured First Lien Debt
Interest rate		16.18%		16.18%			12.75%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Cash		10.00%		10.00%			10.00%
PIK		6.18%		6.18%			2.75%
All-in-Rate		16.18%		16.18%			12.75%
Investment, Identifier [Axis]: Williams Industrial Services Group, Inc., Senior Secured First Lien Debt, 12/16/2025 Maturity
Interest rate basis spread on variable rate	[18],[19],[23],[35]						9.00%
Interest rate, floor	[18],[19],[23],[35]						1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[18],[23],[35]			$ 7,182
Fair Value, Ending Balance	[18],[23],[35]						$ 7,182
Principal amount	[18],[23],[35]						$ 7,173
Investment, Identifier [Axis]: Williams Industrial Services Group, Inc., Senior Secured First Lien Debt, 12/16/2025 Maturity, 1
Interest rate basis spread on variable rate	[15],[16],[17],[33]	11.00%		11.00%
Interest rate, floor	[15],[16],[17],[33]	1.00%		1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[15],[17],[33]	$ 7,540		$ 7,540
Principal amount	[15],[17],[21],[33]	$ 7,693		$ 7,693
Investment, Identifier [Axis]: Williams Industrial Services Group, Inc., Senior Secured First Lien Debt, 12/16/2025 Maturity, 2
Interest rate basis spread on variable rate	[16],[17],[33]	11.00%		11.00%
Interest rate, floor	[16],[17],[33]	1.00%		1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[17],[33]	$ 1,400		$ 1,400
Principal amount	[17],[21],[33]	$ 1,429		$ 1,429
Investment, Identifier [Axis]: Wok Holdings Inc., Senior Secured First Lien Debt, 3/1/2026 Maturity
Interest rate basis spread on variable rate		6.50%	[16],[24],[36]	6.50%	[16],[24],[36]		6.50%	[19],[22],[23]
Interest rate, floor		0.00%	[16],[24],[36]	0.00%	[16],[24],[36]		0.00%	[19],[22],[23]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[23]			$ 21,684
Fair Value, Ending Balance		$ 23,938	[24],[36]	23,938	[24],[36]		$ 21,684	[22],[23]
Principal amount		$ 24,974	[21],[24],[36]	24,974	[21],[24],[36]		$ 25,105	[22],[23]
Investment, Identifier [Axis]: WorkGenius, Inc., Senior Secured First Lien Debt, 6/7/2027 Maturity 1
Interest rate basis spread on variable rate	[19],[20],[22]						7.00%
Interest rate, floor	[19],[20],[22]						0.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[20],[22]			12,938
Fair Value, Ending Balance	[20],[22]						$ 12,938
Principal amount	[20],[22]						$ 12,938
Investment, Identifier [Axis]: WorkGenius, Inc., Senior Secured First Lien Debt, 6/7/2027 Maturity 2
Interest rate, unfunded	[19]						0.50%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ 0
Fair Value, Ending Balance							$ 0
Principal amount							750
Investment, Identifier [Axis]: WorkGenius, Inc., Senior Secured First Lien Debt, 6/7/2027 Maturity, 1
Interest rate basis spread on variable rate	[16],[17],[24]	7.50%		7.50%
Interest rate, floor	[16],[17],[24]	1.00%		1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[17],[24]	$ 10,385		$ 10,385
Principal amount	[17],[21],[24]	$ 10,385		$ 10,385
Investment, Identifier [Axis]: WorkGenius, Inc., Senior Secured First Lien Debt, 6/7/2027 Maturity, 2
Interest rate basis spread on variable rate	[16],[17]	7.50%		7.50%
Interest rate, floor	[16],[17]	1.00%		1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[17]	$ 750		$ 750
Principal amount	[17],[21]	750		750
Investment, Identifier [Axis]: WorkGenius, LLC, Class A Units., Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[30]			515
Fair Value, Ending Balance		$ 415	[32]	$ 415	[32]		$ 515	[30]
Investment, Identifier [Axis]: Xenon Arc, Inc., Senior Secured First Lien Debt, 12/17/2027 Maturity
Interest rate basis spread on variable rate		5.25%	[16],[24],[34]	5.25%	[16],[24],[34]		5.25%	[19],[22],[23]
Interest rate, floor		0.75%	[16],[24],[34]	0.75%	[16],[24],[34]		0.75%	[19],[22],[23]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22],[23]			$ 6,846
Fair Value, Ending Balance		$ 3,895	[24],[34]	3,895	[24],[34]		$ 6,846	[22],[23]
Principal amount		$ 3,895	[21],[24],[34]	3,895	[21],[24],[34]		$ 6,915	[22],[23]
Investment, Identifier [Axis]: Yak Access, LLC, Senior Secured First Lien Debt, 07/11/2025 Maturity
Interest rate basis spread on variable rate	[19],[22]						4.00%
Interest rate, floor	[19],[22]						0.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance	[22]			$ 3,165
Fair Value, Ending Balance	[22]						$ 3,165
Principal amount	[22]						$ 4,925
Investment, Identifier [Axis]: Yak Access, LLC., Senior Secured First Lien Debt, 3/10/2028 Maturity
Interest rate basis spread on variable rate	[16],[17],[24]	6.40%		6.40%
Interest rate, floor	[16],[17],[24]	1.00%		1.00%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[17],[24]	$ 2,972		$ 2,972
Principal amount	[17],[21],[24]	2,972		2,972
Investment, Identifier [Axis]: Yak Holding II, LLC, Series A Common Units, Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[32]	573		573
Investment, Identifier [Axis]: Yak Holding II, LLC, Series A Preferred Units, Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[32]	4,000		4,000
Investment, Identifier [Axis]: Yak Holding II, LLC, Series B-1 Preferred Units, Equity
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Ending Balance	[32]	$ 1,966		$ 1,966
Senior Secured First Lien Debt
Fair value percentage		175.60%	[1]	175.60%	[1]		178.80%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ 1,579,512
Fair Value, Ending Balance		$ 1,468,630	[2]	$ 1,468,630	[2]		$ 1,579,512
Senior Secured Second Lien Debt
Fair value percentage		4.70%	[1]	4.70%	[1]		4.40%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ 38,769
Fair Value, Ending Balance		$ 39,544	[2]	$ 39,544	[2]		$ 38,769
Collateralized securities and structured products - equity
Fair value percentage		0.10%	[1]	0.10%	[1]		0.10%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ 1,179
Fair Value, Ending Balance		$ 1,046	[2]	$ 1,046	[2]		$ 1,179
Unsecured debt
Fair value percentage		2.10%	[1]	2.10%	[1]		2.60%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ 22,643
Fair Value, Ending Balance		$ 17,301	[2]	$ 17,301	[2]		$ 22,643
Equity
Fair value percentage		19.30%	[1]	19.30%	[1]		12.10%
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ 107,058
Fair Value, Ending Balance		$ 161,170	[2]	$ 161,170	[2]		$ 107,058
Short term investments
Fair value percentage		12.00%	[1],[58]	12.00%	[1],[58]		1.20%	[59]
Investments in and Advances to Affiliates, at Fair Value [Roll Forward]
Fair Value, Beginning Balance				$ 10,869
Fair Value, Ending Balance		$ 100,771	[2]	$ 100,771	[2]		$ 10,869

[1] All of the Company’s investments are issued by eligible U.S. portfolio companies, as defined in the Investment Company Act of 1940, as amended, or the 1940 Act, except for investments specifically identified as non-qualifying per note h. below. Unless specifically identified in note s. below, investments do not contain a paid-in-kind, or PIK, interest provision.

[2] Fair value determined in good faith by the Company’s board of directors (see Note 9), including via delegation to CIM as the Company’s valuation designee (see Note 2), using significant unobservable inputs unless otherwise noted.

[3] Gross additions include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, 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.

[4] Gross additions include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, 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.

[5] Gross reductions include decreases in the cost basis of investments 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.

[6] Gross reductions include decreases in the cost basis of investments 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.

[7] Includes PIK interest income.

[8] Includes PIK interest income.

[9] Gross additions include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, 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.

[10] Gross additions include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, 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.

[11] Gross reductions include decreases in the cost basis of investments 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.

[12] Gross reductions include decreases in the cost basis of investments 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.

[13] Includes PIK interest income.

[14] Includes PIK interest income.

[15] Investment or a portion thereof held within the Company’s wholly-owned consolidated subsidiary, Murray Hill Funding II, LLC, or Murray Hill Funding II, and was pledged as collateral supporting the amounts outstanding under the repurchase agreement with UBS AG, or UBS, as of June 30, 2023 (see Note 8).

[16] The actual Secured Overnight Financing Rate, or SOFR, rate for each loan listed may not be the applicable SOFR rate as of June 30, 2023, as the loan may have been priced or repriced based on a SOFR rate prior to or subsequent to June 30, 2023. The actual London Interbank Offered Rate, or LIBOR, rate for each loan listed may not be the applicable LIBOR rate as of June 30, 2023, as the loan may have been priced or repriced based on a LIBOR rate prior to or subsequent to June 30, 2023.

[17] The interest rate on these loans is subject to 3 month SOFR, which as of June 30, 2023 was 5.27%.

[18] Investment or a portion thereof held within the Company’s wholly-owned consolidated subsidiary, Murray Hill Funding II, and was pledged as collateral supporting the amounts outstanding under the repurchase agreement with UBS as of December 31, 2022 (see Note 8).

[19] The actual LIBOR rate for each loan listed may not be the applicable LIBOR rate as of December 31, 2022, as the loan may have been priced or repriced based on a LIBOR rate prior to or subsequent to December 31, 2022. The actual SOFR rate for each loan listed may not be the applicable SOFR rate as of December 31, 2022, as the loan may have been priced or repriced based on a SOFR rate prior to or subsequent to December 31, 2022.

[20] The interest rate on these loans is subject to 3 month SOFR, which as of December 31, 2022 was 4.59%.

[21] Denominated in U.S. dollars unless otherwise noted.

[22] Investment or a portion thereof held within the Company’s wholly-owned consolidated subsidiary, 34th Street, and was pledged as collateral supporting the amounts outstanding under the credit facility with JPM as of December 31, 2022 (see Note 8).

[23] The interest rate on these loans is subject to 3 month LIBOR, which as of December 31, 2022 was 4.77%.

[24] Investment or a portion thereof held within the Company’s wholly-owned consolidated subsidiary, 34th Street Funding, LLC, or 34th Street, and was pledged as collateral supporting the amounts outstanding under the credit facility with JPMorgan Chase Bank, National Association, or JPM, as of June 30, 2023 (see Note 8).

[25] The CLO subordinated notes are considered equity positions in the CLO vehicles and are not rated. Equity investments are entitled to recurring distributions, which are generally equal to the remaining cash flow of the payments made by the underlying vehicle's securities less contractual payments to debt holders and expenses. The estimated yield indicated is based upon a current projection of the amount and timing of these recurring distributions and the estimated amount of repayment of principal upon termination. Such projections are periodically reviewed and adjusted, and the estimated yield may not ultimately be realized.

[26] The investment or a portion thereof is not a qualifying asset under the 1940 Act. A business development company may not acquire any asset other than qualifying assets, unless, at the time the acquisition is made, qualifying assets represent at least 70% of the company’s total assets as defined under Section 55 of the 1940 Act. As of June 30, 2023, 94.3% of the Company’s total assets represented qualifying assets.

[27] The CLO subordinated notes are considered equity positions in the CLO vehicles and are not rated. Equity investments are entitled to recurring distributions, which are generally equal to the remaining cash flow of the payments made by the underlying vehicle's securities less contractual payments to debt holders and expenses. The estimated yield indicated is based upon a current projection of the amount and timing of these recurring distributions and the estimated amount of repayment of principal upon termination. Such projections are periodically reviewed and adjusted, and the estimated yield may not ultimately be realize

[28] The investment or a portion thereof is not a qualifying asset under the 1940 Act. A business development company may not acquire any asset other than qualifying assets, unless, at the time the acquisition is made, qualifying assets represent at least 70% of the company’s total assets as defined under Section 55 of the 1940 Act. As of December 31, 2022, 93.4% of the Company’s total assets represented qualifying assets.

[29] Investment determined to be an affiliated investment as defined in the 1940 Act as the Company owns between 5% and 25% of the portfolio company’s outstanding voting securities but does not control the portfolio company. Fair value as of December 31, 2021 and 2022, along with transactions during the year ended December 31, 2022 in these affiliated investments, were as follows: Year Ended December 31, 2022Year Ended December 31, 2022Non-Controlled, Affiliated InvestmentsFair Value at
December 31, 2021Gross
Additions
(Cost)(1)Gross
Reductions
(Cost)(2)Net Unrealized Gain (Loss)Fair Value at December 31, 2022Net Realized Gain (Loss)Interest
Income(3)Dividend Income    ARC Financial, LLC        Membership Interests$— $— $— $— $— $— $— $25     Berlitz Holdings, Inc.        First Lien Term Loan— 13,956 (13,956)— — — 393 —     Carestream Health, Inc.        First Lien Term Loan— 7,596 — (57)7,539 — 284 —     Carestream Health Holdings Inc.        Common Shares— 21,758 — (214)21,544 — — —     Charming Charlie, LLC        Vendor Payment Financing Facility350 — (657)307 — (657)26 —     DESG Holdings, Inc.        First Lien Term Loan1,787 — (306)(1,235)246 — 5 —         Second Lien Term Loan— — (10,017)10,017 — (10,017)— —     GSC Technologies Inc.        Incremental Term Loan170 8 (24)— 154 — 22 —         First Lien Term Loan A2,001 26 — 37 2,064 — 193 —         First Lien Term Loan B485 67 — (164)388 — 72 —         Common Shares— — — — — — — —     Instant Web Holdings, LLC        Class A Common Units— — — — — — — —     Instant Web, LLC        Revolving Loan— 970 (649)— 321 — 26 —         Priming Term Loan— 458 — 11 469 — 36 —         First Lien Term Loan— 39,802 — (11,635)28,167 — 3,314 —         First Lien Delayed Draw Term Loan— — — — — — 14 —     Language Education Holdings GP LLC        Common Units— — — — — — — —     Language Education Holdings LP        Ordinary Common Units— 1,125 (1,125)— — — — —     Lift Brands, Inc.        Term Loan A23,406 — (236)117 23,287 — 2,252 —         Term Loan B5,156 235 — (237)5,154 — 545 —         Term Loan C4,700 133 — (101)4,732 — 1,412 —     Longview Intermediate Holdings C, LLC        Membership Units15,127 — — 8,868 23,995 — — —     Longview Power, LLC        First Lien Term Loan4,504 156 (1,391)(921)2,348 — 1,952 —     Mount Logan Capital Inc.        Common Stock3,404 — — (1,063)2,341 — — 54     SIMR, LLC        First Lien Term Loan16,000 1,447 (21,261)3,814 — (2,854)804 —     SIMR Parent, LLC        Class B Membership Units— — (8,002)8,002 — (8,002)— —         Class W Membership Units— — — — — — — —  See accompanying notes to consolidated financial statements CĪON Investment Corporation Consolidated Schedule of Investments December 31, 2022 (in thousands) Year Ended December 31, 2022Year Ended December 31, 2022Non-Controlled, Affiliated InvestmentsFair Value at
December 31, 2021Gross
Additions
(Cost)(1)Gross
Reductions
(Cost)(2)Net Unrealized Gain (Loss)Fair Value at December 31, 2022Net Realized Gain (Loss)Interest
Income(3)Dividend Income    Snap Fitness Holdings, Inc.        Class A Stock3,131 — — 1,992 5,123 — — —         Warrants1,269 — — 808 2,077 — — —     STATinMED, LLC        First Lien Term Loan— 9,472 (250)(115)9,107 — 719 —         Delayed Draw First Lien Term Loan— 153 — 3 156 — — —     STATinMed Parent, LLC        Class A Preferred Units— 6,182 — (1,652)4,530 — — —         Class B Preferred Units— 3,193 — (3,059)134 — — —     Totals$81,490 $106,737 $(57,874)$13,523 $143,876 $(21,530)$12,069 $79  (1)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, 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. (2)Gross reductions include decreases in the cost basis of investments 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. (3)Includes PIK interest income.

[30] Non-income producing security.

[31] Investment determined to be an affiliated investment as defined in the 1940 Act as the Company owns between 5% and 25% of the portfolio company’s outstanding voting securities but does not control the portfolio company. Fair value as of December 31, 2022 and June 30, 2023, along with transactions during the six months ended June 30, 2023 in these affiliated investments, were as follows: Six Months Ended June 30, 2023 Six Months Ended June 30, 2023 Non-Controlled, Affiliated InvestmentsFair Value at
December 31, 2022Gross
Additions
(Cost)(1)Gross
Reductions
(Cost)(2)Net Unrealized Gain (Loss) Fair Value at June 30, 2023 Net Realized Gain (Loss)Interest
Income(3)Dividend IncomeFee Income    Afore Insurance Services, LLC        First Lien Term Loan$— $4,583 $— $(11)$4,572 $— $138 $— $—     ARC Financial, LLC        Membership Interests— — — — — — — 25 —     Carestream Health, Inc.        First Lien Term Loan7,539 2,895 (115)1,104 11,423 — 534 — —     Carestream Health Holdings Inc.        Common Shares21,544 — — (828)20,716 — — — —     DESG Holdings, Inc.        First Lien Term Loan246 — (82)(34)130 — — — —     GSC Technologies Inc.        Incremental Term Loan154 6 (160)— — — 11 — —         First Lien Term Loan A2,064 14 — 49 2,127 — 136 — —         First Lien Term Loan B388 48 — 258 694 — 53 — —         Common Shares— — — — — — — — —     Instant Web Holdings, LLC        Class A Common Units— — — — — — — — —     Instant Web, LLC        Revolving Loan321 2,093 — (75)2,339 — 78 — —         Priming Term Loan469 10 — — 479 — 27 — —         First Lien Term Loan28,167 2,447 — (5,265)25,349 — 2,436 — —         First Lien Delayed Draw Term Loan— — — (89)(89)— 8 — —     IPP Buyer Holdings, LLC        Class A Units— 10,740 — 993 11,733 — — — —     Isagenix International, LLC        First Lien Term Loan— 8,237 — — 8,237 — 189 — 477     Isagenix Worldwide, Inc.        Common Shares— 8,987 — — 8,987 — — — —     Lift Brands, Inc.        Term Loan A23,287 — (118)— 23,169 — 1,440 — 29         Term Loan B5,154 234 — 42 5,430 — 280 — —         Term Loan C4,732 1,335 — (51)6,016 — 348 — 1,891     Longview Intermediate Holdings C, LLC        Membership Units23,995 — — (2,315)21,680 — — 3,881 —     Longview Power, LLC        First Lien Term Loan2,348 — (1,389)(959)— — 1,306 — —     Mount Logan Capital Inc.        Common Stock2,341 — — (75)2,266 — — 27 —     Snap Fitness Holdings, Inc.        Class A Stock5,123 — — (187)4,936 — — — —         Warrants2,077 — — (76)2,001 — — — —     SRA Holdings, LLC        Membership Units— 23,611 — 95 23,706 — — — —     STATinMED, LLC        First Lien Term Loan9,107 683 — (133)9,657 — 696 — —         Delayed Draw First Lien Term Loan156 6 (162)— — — 10 — —     STATinMed Parent, LLC        Class A Preferred Units4,530 — — (2,004)2,526 — — — —         Class B Preferred Units134 — — (134)— — — — —     Totals$143,876 $65,929 $(2,026)$(9,695)$198,084 $— $7,690 $3,933 $2,397  See accompanying notes to consolidated financial statements. CĪON Investment Corporation Consolidated Schedule of Investments (unaudited) June 30, 2023 (in thousands) (1)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, 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. (2)Gross reductions include decreases in the cost basis of investments 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. (3)Includes PIK interest income.

[32] Non-income producing security.

[33] As of June 30, 2023, the below investments contain a PIK interest provision whereby the issuer has either the option or the obligation to make interest payments with the issuance of additional securities. For certain investments, the borrower may toggle between cash and PIK interest payments.   Interest RatePortfolio CompanyInvestment TypeCashPIKAll-in-RateAdapt Laser Acquisition, Inc.Senior Secured First Lien Debt15.24%2.00%17.24%American Clinical Solutions LLCSenior Secured First Lien Debt7.00%5.19%12.19%American Consolidated Natural Resources, Inc.Senior Secured First Lien Debt18.27%3.00%21.27%Ancile Solutions, Inc.Senior Secured First Lien Debt12.56%3.00%15.56%Anthem Sports & Entertainment Inc.Senior Secured First Lien Debt11.91%2.75%14.66%CION/EagleTree Partners, LLCSenior Secured Note—14.00%14.00%David's Bridal, LLCSenior Secured First Lien Debt14.25%5.00%19.25%David's Bridal, LLCSenior Secured First Lien Debt10.54%5.00%15.54%David's Bridal, LLCSenior Secured First Lien Debt1.00%11.54%12.54%Deluxe Entertainment Services, Inc.Senior Secured First Lien Debt10.54%1.50%12.04%Fusion Connect Inc.Senior Secured First Lien Debt12.86%1.00%13.86%GSC Technologies Inc.Senior Secured First Lien Debt—10.23%10.23%Hilliard, Martinez & Gonzales, LLPSenior Secured First Lien Debt—17.27%17.27%Homer City Generation, L.P.Senior Secured First Lien Debt—15.00%15.00%Instant Web, LLCSenior Secured First Lien Debt—12.22%12.22%Instant Web, LLCSenior Secured First Lien Debt—12.00%12.00%Instant Web, LLCSenior Secured Revolving Loan—11.77%11.77%K&N Parent, Inc.Senior Secured First Lien Debt—13.40%13.40%Klein Hersh, LLCSenior Secured First Lien Debt4.90%12.00%16.90%Lift Brands, Inc.Senior Secured First Lien Debt—9.50%9.50%Lucky Bucks Holdings LLCUnsecured Note—12.50%12.50%Robert C. Hilliard, L.L.P.Senior Secured First Lien Debt—17.27%17.27%Rogers Mechanical Contractors, LLCSenior Secured First Lien Debt12.09%1.00%13.09%Service Compression, LLCSenior Secured First Lien Debt13.20%2.00%15.20%Spinal USA, Inc. / Precision Medical Inc.Senior Secured First Lien Debt—14.68%14.68%STATinMED, LLCSenior Secured First Lien Debt—14.79%14.79%Trademark Global, LLCSenior Secured First Lien Debt8.10%4.50%12.60%Trammell, P.C.Senior Secured First Lien Debt—20.72%20.72%Williams Industrial Services Group, Inc.Senior Secured First Lien Debt10.00%6.18%16.18%WPLM Acquisition Corp.Unsecured Note—15.00%15.00%

[34] The interest rate on these loans is subject to 3 month LIBOR, which as of June 30, 2023 was 5.54%

[35] As of December 31, 2022, the below investments contain a PIK interest provision whereby the issuer has either the option or the obligation to make interest payments with the issuance of additional securities. For certain investments, the borrower may toggle between cash and PIK interest payments.   Interest RatePortfolio CompanyInvestment TypeCashPIKAll-in-RateAdapt Laser Acquisition, Inc.Senior Secured First Lien Debt14.76%2.00%16.76%American Clinical Solutions LLCSenior Secured First Lien Debt7.00%4.27%11.27%American Consolidated Natural Resources, Inc.Senior Secured First Lien Debt17.33%3.00%20.33%Ancile Solutions, Inc.Senior Secured First Lien Debt11.75%3.00%14.75%Anthem Sports & Entertainment Inc.Senior Secured First Lien Debt11.48%2.75%14.23%Cadence Aerospace, LLCSenior Secured First Lien Debt10.92%2.00%12.92%CION/EagleTree Partners, LLCSenior Secured Note—14.00%14.00%David's Bridal, LLCSenior Secured First Lien Debt9.28%5.00%14.28%David's Bridal, LLCSenior Secured First Lien Debt1.00%9.42%10.42%Deluxe Entertainment Services, Inc.Senior Secured First Lien Debt9.73%1.50%11.23%Fusion Connect Inc.Senior Secured First Lien Debt11.69%1.00%12.69%GSC Technologies Inc.Senior Secured First Lien Debt—9.12%9.12%GSC Technologies Inc.Senior Secured First Lien Debt9.37%5.00%14.37%Hilliard, Martinez & Gonzales, LLPSenior Secured First Lien Debt—16.24%16.24%Homer City Generation, L.P.Senior Secured First Lien Debt—15.00%15.00%Independent Pet Partners Intermediate Holdings, LLCSenior Secured First Lien Debt—6.00%6.00%Independent Pet Partners Intermediate Holdings, LLCSenior Secured First Lien Debt—13.00%13.00%Independent Pet Partners Intermediate Holdings, LLCSenior Secured First Lien Debt—11.26%11.26%Independent Pet Partners Intermediate Holdings, LLCSenior Secured First Lien Debt—14.42%14.42%Instant Web, LLCSenior Secured First Lien Debt—11.38%11.38%Lucky Bucks Holdings LLCUnsecured Note—12.50%12.50%Robert C. Hilliard, L.L.P.Senior Secured First Lien Debt—16.24%16.24%Rogers Mechanical Contractors, LLCSenior Secured First Lien Debt11.70%1.00%12.70%Service Compression, LLCSenior Secured First Lien Debt12.83%2.00%14.83%Spinal USA, Inc. / Precision Medical Inc.Senior Secured First Lien Debt—13.24%13.24%STATinMED, LLCSenior Secured First Lien Debt—13.80%13.80%STATinMED, LLCSenior Secured First Lien Debt—13.94%13.94%Trademark Global, LLCSenior Secured First Lien Debt7.07%4.50%11.57%Trammell, P.C.Senior Secured First Lien Debt—19.94%19.94%Vesta Holdings, LLCSenior Secured First Lien Debt—21.50%21.50%Williams Industrial Services Group, Inc.Senior Secured First Lien Debt10.00%2.75%12.75%WPLM Acquisition Corp.Unsecured Note—15.00%15.00%

[36] The interest rate on these loans is subject to 1 month LIBOR, which as of June 30, 2023 was 5.22%.

[37] The interest rate on these loans is subject to 1 month LIBOR, which as of December 31, 2022 was 4.39%.

[38] The interest rate on these loans is subject to 6 month SOFR, which as of June 30, 2023 was 5.39%.

[39] The interest rate on these loans is subject to 6 month LIBOR, which as of December 31, 2022 was 5.14%.

[40] Investment or a portion thereof was on non-accrual status as of December 31, 2022.

[41] Investment or a portion thereof was on non-accrual status as of June 30, 2023.

[42] The interest rate on these loans is subject to 1 month SOFR, which as of December 31, 2022 was 4.36%.

[43] The interest rate on these loans is subject to 1 month SOFR, which as of June 30, 2023 was 5.14%.

[44] Investment determined to be a controlled investment as defined in the 1940 Act as the Company is deemed to exercise a controlling influence over the management or policies of the portfolio company due to beneficially owning, either directly or through one or more controlled companies, more than 25% of the outstanding voting securities of such portfolio company. Fair value as of December 31, 2022 and June 30, 2023, along with transactions during the six months ended June 30, 2023 in these controlled investments, were as follows: Six Months Ended June 30, 2023 Six Months Ended June 30, 2023 Controlled InvestmentsFair Value at
December 31, 2022Gross
Additions
(Cost)(1)Gross
Reductions
(Cost)(2)Net 
Unrealized
Gain (Loss) Fair Value at June 30, 2023 Net Realized
Gain (Loss)Interest
Income(3)Dividend Income    CION/EagleTree Partners, LLC        Senior Secured Note$60,348 $— $(5,521)$— $54,827 $— $3,891 $—         Participating Preferred Shares30,766 — — (5,587)25,179 — — 4,250         Common Shares— — — — — — — —     Totals$91,114 $— $(5,521)$(5,587)$80,006 $— $3,891 $4,250  (1)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, 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. (2)Gross reductions include decreases in the cost basis of investments 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. (3)Includes PIK interest income.

[45] Investment determined to be a controlled investment as defined in the 1940 Act as the Company is deemed to exercise a controlling influence over the management or policies of the portfolio company due to beneficially owning, either directly or through one or more controlled companies, more than 25% of the outstanding voting securities of such portfolio company. Fair value as of December 31, 2021 and 2022, along with transactions during the year ended December 31, 2022 in these controlled investments, were as follows: Year Ended December 31, 2022Year Ended December 31, 2022Controlled InvestmentsFair Value at
December 31, 2021Gross
Additions
(Cost)(1)Gross
Reductions
(Cost)(2)Net 
Unrealized
Gain (Loss)Fair Value at
December 31, 2022Net Realized
Gain (Loss)Interest
Income(3)Dividend Income    CION/EagleTree Partners, LLC        Senior Secured Note$61,629 $2,718 $(3,999)$— $60,348 $— $8,531 $—         Participating Preferred Shares29,796 — — 970 30,766 — — 1,275         Common Shares— — — — — — — —     Totals$91,425 $2,718 $(3,999)$970 $91,114 $— $8,531 $1,275  (1)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, 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. (2)Gross reductions include decreases in the cost basis of investments 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. (3)Includes PIK interest income.

[46] As of June 30, 2023, the below investments contain a PIK interest provision whereby the issuer has either the option or the obligation to make interest payments with the issuance of additional securities. For certain investments, the borrower may toggle between cash and PIK interest payments.   Interest RatePortfolio CompanyInvestment TypeCashPIKAll-in-RateAdapt Laser Acquisition, Inc.Senior Secured First Lien Debt15.24%2.00%17.24%American Clinical Solutions LLCSenior Secured First Lien Debt7.00%5.19%12.19%American Consolidated Natural Resources, Inc.Senior Secured First Lien Debt18.27%3.00%21.27%Ancile Solutions, Inc.Senior Secured First Lien Debt12.56%3.00%15.56%Anthem Sports & Entertainment Inc.Senior Secured First Lien Debt11.91%2.75%14.66%CION/EagleTree Partners, LLCSenior Secured Note—14.00%14.00%David's Bridal, LLCSenior Secured First Lien Debt14.25%5.00%19.25%David's Bridal, LLCSenior Secured First Lien Debt10.54%5.00%15.54%David's Bridal, LLCSenior Secured First Lien Debt1.00%11.54%12.54%Deluxe Entertainment Services, Inc.Senior Secured First Lien Debt10.54%1.50%12.04%Fusion Connect Inc.Senior Secured First Lien Debt12.86%1.00%13.86%GSC Technologies Inc.Senior Secured First Lien Debt—10.23%10.23%Hilliard, Martinez & Gonzales, LLPSenior Secured First Lien Debt—17.27%17.27%Homer City Generation, L.P.Senior Secured First Lien Debt—15.00%15.00%Instant Web, LLCSenior Secured First Lien Debt—12.22%12.22%Instant Web, LLCSenior Secured First Lien Debt—12.00%12.00%Instant Web, LLCSenior Secured Revolving Loan—11.77%11.77%K&N Parent, Inc.Senior Secured First Lien Debt—13.40%13.40%Klein Hersh, LLCSenior Secured First Lien Debt4.90%12.00%16.90%Lift Brands, Inc.Senior Secured First Lien Debt—9.50%9.50%Lucky Bucks Holdings LLCUnsecured Note—12.50%12.50%Robert C. Hilliard, L.L.P.Senior Secured First Lien Debt—17.27%17.27%Rogers Mechanical Contractors, LLCSenior Secured First Lien Debt12.09%1.00%13.09%Service Compression, LLCSenior Secured First Lien Debt13.20%2.00%15.20%Spinal USA, Inc. / Precision Medical Inc.Senior Secured First Lien Debt—14.68%14.68%STATinMED, LLCSenior Secured First Lien Debt—14.79%14.79%Trademark Global, LLCSenior Secured First Lien Debt8.10%4.50%12.60%Trammell, P.C.Senior Secured First Lien Debt—20.72%20.72%Williams Industrial Services Group, Inc.Senior Secured First Lien Debt10.00%6.18%16.18%WPLM Acquisition Corp.Unsecured Note—15.00%15.00%

[47] As of December 31, 2022, the index rate for $2,096 and $1,943 was 1 Month LIBOR and 3 Month LIBOR, respectively.

[48] On July 21, 2023, the Company acquired substantially all of the assets of David's Bridal, LLC in a non-cash transaction upon exit from bankruptcy.

[49] In addition to the interest earned based on the stated interest rate of this loan, which is the amount reflected in this schedule, the Company may be entitled to receive additional residual amounts.

[50] In addition to the interest earned based on the stated interest rate of this loan, which is the amount reflected in this schedule, the Company may be entitled to receive additional residual amounts.

[51] 7-day effective yield as of June 30, 2023.

[52] [Reserved]

[53] The interest rate on these loans is subject to 6 month LIBOR, which as of June 30, 2023 was 5.76%.

[54] The ultimate interest earned on this loan will be determined based on the portfolio company’s EBITDA at a specified trigger event.

[55] Company has entered into a proceeds agreement with Macquarie Capital Funding LLC, or Macquarie, in which any proceeds received by Macquarie from an underlying first lien term loan are passed onto the Company. Macquarie's obligations under the proceeds agreement are not secured by any collateral. The interest rate, maturity date, par balance and industry reflect the terms of the underlying first lien term loan.

[56] Fair value determined using level 1 inputs.

[57] Fair value determined using level 1 inputs.

[58] Short term investments represent an investment in a fund that invests in highly liquid investments with average original maturity dates of three months or less.

[59] Short term investments represent an investment in a fund that invests in highly liquid investments with average original maturity dates of three months or less.

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Organization and Principal Business

6 Months Ended

Jun. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Principal Business

Organization and Principal Business    

CĪON Investment Corporation, or the Company, was incorporated under the general corporation laws of the State of Maryland on August 9, 2011. On December 17, 2012, the Company successfully raised gross proceeds from unaffiliated outside investors of at least $2,500, or the minimum offering requirement, and commenced operations. The Company is an externally managed, non-diversified, closed-end management investment company that has elected to be regulated as a business development company, or BDC, under the 1940 Act. The Company elected to be treated for federal income tax purposes as a regulated investment company, or RIC, as defined under Subchapter M of the Internal Revenue Code of 1986, as amended, or the Code.

The Company’s investment objective is to generate current income and, to a lesser extent, capital appreciation for investors. The Company’s portfolio is comprised primarily of investments in senior secured debt, including first lien loans, second lien loans and unitranche loans, and, to a lesser extent, collateralized securities, structured products and other similar securities, unsecured debt, and equity, of private and thinly-traded U.S. middle-market companies.

The Company is managed by CION Investment Management, LLC, or CIM, a registered investment adviser and an affiliate of the Company. Pursuant to an investment advisory agreement with the Company, CIM oversees the management of the Company’s activities and is responsible for making investment decisions for the Company’s investment portfolio. On August 7, 2023, the board of directors of the Company, including a majority of the board of directors who are not interested persons, approved the renewal of the second amended and restated investment advisory agreement with CIM for a period of twelve months, commencing August 9, 2023. The Company and CIM previously engaged Apollo Investment Management, L.P., or AIM, a subsidiary of Apollo Global Management, Inc., or, together with its subsidiaries, Apollo, a leading global alternative investment manager, to act as the Company’s investment sub-adviser.

On July 11, 2017, the members of CIM entered into a third amended and restated limited liability company agreement of CIM, or the Third Amended CIM LLC Agreement, for the purpose of creating a joint venture between AIM and CION Investment Group, LLC, or CIG, an affiliate of the Company. Under the Third Amended CIM LLC Agreement, AIM became a member of CIM and was issued a newly-created class of membership interests in CIM pursuant to which AIM, among other things, shares in the profits, losses, distributions and expenses of CIM with the other members in accordance with the terms of the Third Amended CIM LLC Agreement, which results in CIG and AIM each owning a 50% economic interest in CIM.

On July 10, 2017, the Company’s independent directors unanimously approved the termination of the investment sub-advisory agreement with AIM, effective as of July 11, 2017. Although the investment sub-advisory agreement and AIM's engagement as the Company’s investment sub-adviser were terminated, AIM continues to perform certain services for CIM and the Company. AIM is not paid a separate fee in exchange for such services, but is entitled to receive distributions as a member of CIM as described above.

On December 4, 2017, the members of CIM entered into a fourth amended and restated limited liability company agreement of CIM, or the Fourth Amended CIM LLC Agreement, under which AIM performs certain services for CIM, which include, among other services, providing (a) trade and settlement support; (b) portfolio and cash reconciliation; (c) market pipeline information regarding syndicated deals, in each case, as reasonably requested by CIM; and (d) monthly valuation reports and support for all broker-quoted investments. AIM may also, from time to time, provide the Company with access to potential investment opportunities made available on Apollo's credit platform on a similar basis as other third-party market participants. All of the Company's investment decisions are the sole responsibility of, and are made at the sole discretion of, CIM's investment committee, which consists entirely of CIG senior personnel.

On October 5, 2021, the Company's shares of common stock commenced trading on the New York Stock Exchange, or the NYSE, under the ticker symbol "CION", or the Listing. As a result, on October 5, 2021, the Company and CIM entered into the second amended and restated investment advisory agreement in order to implement the changes to the advisory fees payable from the Company to CIM that became effective upon the Listing that (i) reduced the annual base management fee, (ii) amended the structure of the subordinated incentive fee on income payable by the Company to CIM and reduced the hurdle and incentive fee rates, and (iii) reduced the incentive fee on capital gains payable by the Company to CIM (as described in further detail in Notes 2 and 4). On February 26, 2023, the Company’s shares of common stock also listed and commenced trading on the Tel Aviv Stock Exchange Ltd., or the TASE, under the ticker symbol “CION”.

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Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2023

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

Basis of Presentation and Consolidation

The accompanying unaudited consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles, or GAAP, for interim financial information and pursuant to the instructions for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. For a more complete discussion of significant accounting policies and certain other information, the Company’s interim unaudited consolidated financial statements should be read in conjunction with its audited consolidated financial statements as of December 31, 2022 and for the year then ended included in the Company’s Annual Report on Form 10-K. Operating results for interim periods are not necessarily indicative of the results that may be expected for the full year ending December 31, 2023. The consolidated balance sheet and the consolidated schedule of investments as of December 31, 2022 and the consolidated statements of operations, changes in net assets, and cash flows for the year ended December 31, 2022 are derived from the 2022 audited consolidated financial statements and include the accounts of the Company’s wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The Company does not consolidate its equity interest in CION/EagleTree Partners, LLC, or CION/EagleTree. See Note 7 for a description of the Company’s investment in CION/EagleTree.

The Company evaluates subsequent events through the date that the consolidated financial statements are issued.

Recently Announced Accounting Pronouncements

In June 2022, the Financial Accounting Standards Board, or the FASB, issued ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions, or ASU 2022-03, which clarifies the guidance when measuring the fair value of an equity security subject to contractual restrictions that prohibit the sale of an equity security and introduces new disclosure requirements for equity securities subject to contractual sale restrictions that are measured at fair value in accordance with Topic 820. ASU 2022-03 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2023. The Company is evaluating the potential impact that the adoption of this guidance will have on the Company’s consolidated financial statements.

In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, or ASU 2020-04, which provides optional expedients and exceptions for applying GAAP to contract modifications, hedging relationships and other transactions, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued because of the reference rate reform. ASU 2020-04 is effective for all entities as of March 12, 2020 through December 31, 2022. The expedients and exceptions provided by this guidance do not apply to contract modifications and hedging relationships entered into or evaluated after December 31, 2022. In December 2022, the FASB issued ASU No. 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848, which deferred the sunset date of this guidance to December 31, 2024. The Company is evaluating the potential impact that the adoption of this guidance will have on the Company’s consolidated financial statements.

Cash and Cash Equivalents

Cash and cash equivalents include cash in banks and highly liquid investments with original maturity dates of three months or less. The Company’s cash and cash equivalents are held principally at one financial institution and at times may exceed insured limits. The Company periodically evaluates the creditworthiness of this institution and has not experienced any losses on such deposits.

Foreign Currency Translations

The accounting records of the Company are maintained in U.S. dollars. All assets and liabilities denominated in foreign currencies are translated into U.S. dollars based on the foreign exchange rate on the date of valuation. The Company does 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 market prices of securities held. Changes in the relationship of foreign currencies to the U.S. dollar can significantly affect the value of these investments and therefore the earnings of the Company.

Short Term Investments

Short term investments include an investment in a U.S. Treasury obligations fund, which seeks to provide current income and daily liquidity by purchasing U.S. Treasury securities and repurchase agreements that are collateralized by such securities. The Company had $100,771 and $10,869 of such investments at June 30, 2023 and December 31, 2022, respectively, which are included in investments, at fair value on the accompanying consolidated balance sheets and on the consolidated schedules of investments.

Income Taxes

The Company elected to be treated for federal income tax purposes as a RIC under Subchapter M of the Code. To qualify and maintain qualification as a RIC, the Company must, among other things, meet certain source of income and asset diversification requirements and distribute to shareholders, for each taxable year, at least 90% of the Company’s “investment company taxable income”, which is generally equal to the sum of the Company’s net ordinary income plus the excess, if any, of realized net short-term capital gains over realized net long-term capital losses. If the Company continues to qualify as a RIC and continues to satisfy the annual distribution requirement, the Company will not be subject to corporate level federal income taxes on any income that the Company distributes to its shareholders. The Company intends to make distributions in an amount sufficient to maintain RIC status each year and to avoid any federal income taxes on income. The Company will also be subject to nondeductible federal excise taxes if the Company does not distribute at least 98.0% of net ordinary income, 98.2% of capital gains, if any, and any recognized and undistributed income from prior years for which it paid no federal income taxes. 

Two of the Company’s wholly-owned consolidated subsidiaries, View ITC, LLC and View Rise, LLC, or collectively the Taxable Subsidiaries, have elected to be treated as taxable entities for U.S. federal income tax purposes. As a result, the Taxable Subsidiaries are not consolidated with the Company for income tax purposes and may generate income tax expense or benefit, and the related tax assets and liabilities, as a result of their ownership of certain portfolio investments. The income tax expense or benefit, if any, and the related tax assets and liabilities, where material, are reflected in the Company’s consolidated financial statements. There were no deferred tax assets or liabilities as of June 30, 2023 or December 31, 2022.

Book/tax differences relating to permanent differences are reclassified among the Company’s capital accounts, as appropriate. Additionally, the tax character of distributions is determined in accordance with income tax regulations that may differ from GAAP (see Note 5).

Uncertainty in Income Taxes

The Company evaluates its tax positions to determine if the tax positions taken meet the minimum recognition threshold for the purposes of measuring and recognizing tax liabilities in the consolidated financial statements. Recognition of a tax benefit or liability with respect to an uncertain tax position is required only when the position is “more likely than not” to be sustained assuming examination by the taxing authorities. The Company recognizes interest and penalties, if any, related to unrecognized tax benefits as income tax expense in the consolidated statements of operations. The Company did not have any uncertain tax positions during the periods presented herein. 

The Company is subject to examination by U.S. federal, New York State, New York City and Maryland income tax jurisdictions for 2019, 2020 and 2021.

Use of Estimates

The preparation of the consolidated financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period.

Actual results may materially differ from those estimates.

Valuation of Portfolio Investments

The fair value of the Company’s investments is determined quarterly in good faith by the Company’s board of directors pursuant to its consistently applied valuation procedures and valuation process in accordance with Accounting Standards Codification Topic 820, Fair Value Measurements and Disclosure, or ASC 820. In accordance with Rule 2a-5 of the 1940 Act, the Company’s board of directors has designated CIM as the Company’s “valuation designee.” The Company’s board of directors and the audit committee of the board of directors, the latter of which is comprised solely of independent directors, oversees the activities, methodology and processes of the valuation designee. ASC 820 defines fair value as the price that would be received from the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820 also establishes a three-tier fair value hierarchy that prioritizes and ranks the level of market price observability of inputs used in measuring investments at fair value. Inputs used to measure these fair values are classified into the following hierarchy:

Level 1 -Quoted prices in active markets for identical assets or liabilities, accessible by the Company at the measurement date.

Level 2 -Quoted prices for similar assets or liabilities in active markets, or quoted prices for identical or similar assets or liabilities in markets that are not active, or other observable inputs other than quoted prices.

Level 3 -Unobservable inputs for the asset or liability. The inputs used in the determination of fair value may require significant management judgment or estimation. Such information may be the result of consensus pricing information or broker quotes that include a disclaimer that the broker would not be held to such a price in an actual transaction. The non-binding nature of consensus pricing and/or quotes accompanied by the disclaimer would result in classification as a Level 3 asset, assuming no additional corroborating evidence.

Market price observability is affected by a number of factors, including the type of investment and the characteristics specific to the investment. Investments with readily available active quoted prices or for which fair value can be measured from actively quoted prices generally will have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value.

Based on the observability of the inputs used in the valuation techniques, the Company is required to provide disclosures on fair value measurements according to the fair value hierarchy. The level in the fair value hierarchy for each fair value measurement has been determined based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to each investment. The level assigned to the investment valuations may not be indicative of the risk or liquidity associated with investing in such investments. Because of the inherent uncertainties of valuation, the values reflected in the consolidated financial statements may differ materially from the value that would be received upon an actual sale of such investments. In addition, changes in the market environment and other events that may occur over the life of the investments may cause the gains or losses that the Company ultimately realizes on these investments to materially differ from the valuations currently assigned.

A portion of the Company’s investments consist of debt securities that are traded on a private over-the-counter market for institutional investments. CIM attempts to obtain market quotations from at least two brokers or dealers for each investment (if available, otherwise from a principal market maker or a primary market dealer or other independent pricing service). CIM typically uses the average midpoint of the broker bid/ask price to determine fair value unless a different point within the range is more representative. Because of the private nature of this marketplace (meaning actual transactions are not publicly reported) and the non-binding nature of consensus pricing and/or quotes, the Company believes that these valuation inputs result in Level 3 classification within the fair value hierarchy. As these quotes are only indicative of fair value, CIM benchmarks the implied fair value yield and leverage against what has been observed in the market. If the implied fair value yield and leverage fall within the range of CIM's market pricing matrix, the quotes are deemed to be reliable and used to determine the investment's fair value.

Notwithstanding the foregoing, if in the reasonable judgment of CIM, the price of any investment held by the Company and determined in the manner described above does not accurately reflect the fair value of such investment, CIM will value such investment at a price that reflects such investment’s fair value and report such change in the valuation to the board of directors or its designee as soon as practicable. Investments that carry certain restrictions on sale will typically be valued at a discount from the public market value of the investment.

Any investments that are not publicly traded or for which a market price is not otherwise readily available are valued at a price that reflects its fair value. With respect to such investments, if CIM is unable to obtain market quotations, the investments are reviewed and valued using one or more of the following types of analyses:

i.Market comparable statistics and public trading multiples discounted for illiquidity, minority ownership and other factors for companies with similar characteristics.

ii.Valuations implied by third-party investments in the applicable portfolio companies.

iii.A benchmarking analysis to compare implied fair value and leverage to comparable market investments.

iv.Discounted cash flow analysis, including a terminal value or exit multiple.

Determination of fair value involves subjective judgments and estimates. Accordingly, these notes to the Company’s consolidated financial statements refer to the uncertainty with respect to the possible effect of such valuations, and any change in such valuations, on the Company’s consolidated financial statements. Below is a description of factors that CIM may consider when valuing the Company’s equity and debt investments where a market price is not readily available:

•the size and scope of a portfolio company and its specific strengths and weaknesses;

•prevailing interest rates for like securities;

•expected volatility in future interest rates;

•leverage; 

•call features, put features, fees and other relevant terms of the debt;

•the borrower’s ability to adequately service its debt;

•the fair market value of the portfolio company in relation to the face amount of its outstanding debt;

•the quality of collateral securing the Company’s debt investments;

•multiples of earnings before interest, taxes, depreciation and amortization, or EBITDA, cash flows, net income, revenues or, in some cases, book value or liquidation value; and

•other factors deemed applicable.

All of these factors may be subject to adjustment based upon the particular circumstances of a portfolio company or the Company’s actual investment position. For example, adjustments to EBITDA may take into account compensation to previous owners, or acquisition, recapitalization, and restructuring expenses or other related or non-recurring items. The choice of analyses and the weight assigned to such factors may vary across investments and may change within an investment if events occur that warrant such a change.

When CIM uses the discounted cash flow model to value the Company's investments, such model deemed appropriate by CIM is prepared for the applicable investments and reviewed by designated members of CIM’s management team. Such models are prepared at least quarterly or on an as needed basis. The model uses the estimated cash flow projections for the underlying investments and an appropriate discount rate is determined based on the latest financial information available for the borrower, prevailing market trends, comparable analysis and other inputs. The model, key assumptions, inputs, and results are reviewed by designated members of CIM’s management team with final approval from the board of directors or its designee.

Consistent with the Company’s valuation policy, the Company evaluates the source of inputs, including any markets in which the Company’s investments are trading, in determining fair value.

The Company periodically benchmarks the broker quotes from the brokers or dealers against the actual prices at which the Company purchases and sells its investments. Based on the results of the benchmark analysis and the experience of the Company’s management in purchasing and selling these investments, the Company believes that these quotes are reliable indicators of fair value. The Company may also use other methods to determine fair value for securities for which it cannot obtain market quotations through brokers or dealers, including the use of an independent valuation firm. Designated members of CIM’s management team and the Company's board of directors or its designee review and approve the valuation determinations made with respect to these investments in a manner consistent with the Company’s valuation process.

As a practical expedient, the Company uses net asset value, or NAV, as the fair value for its equity investment in CION/EagleTree. CION/EagleTree records its underlying investments at fair value on a quarterly basis in accordance with ASC 820.

Revenue Recognition

Securities transactions are accounted for on the trade date. The Company records interest and dividend income on an accrual basis beginning on the trade settlement date or the ex-dividend date, respectively, to the extent that the Company expects to collect such amounts.  For investments in equity tranches of collateralized loan obligations, the Company records income based on the effective interest rate determined using the amortized cost and estimated cash flows, which is updated periodically. Loan origination fees, original issue discounts, or OID, and market discounts/premiums are recorded and such amounts are amortized as adjustments to interest income over the respective term of the loan using the effective interest rate method. Upon the prepayment of a loan or security, prepayment premiums, any unamortized loan origination fees, OID, or market discounts/premiums are recorded as interest income.

The Company may have investments in its investment portfolio that contain a PIK interest provision. PIK interest is accrued as interest income if the portfolio company valuation indicates that such PIK interest is collectible and recorded as interest receivable up to the interest payment date. On the interest payment dates, the Company will capitalize the accrued interest receivable attributable to PIK as additional principal due from the borrower. Additional PIK securities typically have the same terms, including maturity dates and interest rates, as the original securities. In order to maintain RIC status, substantially all of this income must be paid out to shareholders in the form of distributions, even if the Company has not collected any cash. For additional information on investments that contain a PIK interest provision, see the consolidated schedules of investments as of June 30, 2023 and December 31, 2022.

Loans and debt securities, including those that are individually identified as being impaired under Accounting Standards Codification 310, Receivables, or ASC 310, are generally placed on non-accrual status immediately if, in the opinion of management, principal or interest is not likely to be paid, or when principal or interest is past due 90 days or more. Interest accrued but not collected at the date a loan or security is placed on non-accrual status is reversed against interest income. Interest income is recognized on non-accrual loans or debt securities only to the extent received in cash. However, where there is doubt regarding the ultimate collectability of principal, cash receipts, whether designated as principal or interest, are thereafter applied to reduce the carrying value of the loan or debt security. Loans or securities are restored to accrual status only when interest and principal payments are brought current and future payments are reasonably assured.

Dividend income on preferred equity securities is recorded on an accrual basis to the extent that such amounts are payable by the portfolio company and are expected to be collected. Dividend income on common equity securities is recorded on the record date for private portfolio companies or on the ex-dividend date for publicly-traded portfolio companies.

The Company may receive fees for capital structuring services that are fixed based on contractual terms, are normally paid at the closing of the investment, are generally non-recurring and non-refundable and are recognized as revenue when earned upon closing of the investment. The services that CIM provides vary by investment, but generally include reviewing existing credit facilities, arranging bank financing, arranging equity financing, structuring financing from multiple lenders, structuring financing from multiple equity investors, restructuring existing loans, raising equity and debt capital, and providing general financial advice, which concludes upon closing of the investment. In certain instances where the Company is invited to participate as a co-lender in a transaction and does not provide significant services in connection with the investment, a portion of loan fees paid to the Company in such situations will be deferred and amortized over the estimated life of the loan as interest income.

Other income includes amendment fees that are fixed based on contractual terms and are generally non-recurring and non-refundable and are recognized as revenue when earned upon closing of the transaction. Other income also includes fees for managerial assistance and other consulting services, loan guarantees, commitments, and other services rendered by the Company to its portfolio companies. Such fees are fixed based on contractual terms and are recognized as fee income when earned.

Net Realized Gains or Losses and Net Change in Unrealized Appreciation or Depreciation

Gains or losses on the sale of investments are calculated by using the weighted-average method. The Company measures realized gains or losses by the difference between the net proceeds from the sale and the weighted-average amortized cost of the investment, without regard to unrealized appreciation or depreciation previously recognized, but considering unamortized upfront fees. Net change in unrealized appreciation or depreciation reflects the change in portfolio investment values during the reporting period, including any reversal of previously recorded unrealized appreciation or depreciation when gains or losses are realized.

Capital Gains Incentive Fee

Pursuant to the terms of the investment advisory agreement the Company entered into with CIM, the incentive fee on capital gains earned on liquidated investments of the Company’s investment portfolio during operations is determined and payable in arrears as of the end of each calendar year. Prior to October 5, 2021 and under the investment advisory agreement, such fee equaled 20% of the Company’s incentive fee capital gains (i.e., the Company’s realized capital gains on a cumulative basis from inception, calculated as of the end of each calendar year, computed net of all realized capital losses and unrealized capital depreciation on a cumulative basis), less the aggregate amount of any previously paid capital gains incentive fees. Pursuant to the second amended and restated investment advisory agreement, the incentive fee on capital gains was reduced to 17.5%, which became effective on October 5, 2021.

On a cumulative basis and to the extent that all realized capital losses and unrealized capital depreciation exceed realized capital gains as well as the aggregate realized net capital gains for which a fee has previously been paid, the Company would not be required to pay CIM a capital gains incentive fee. On a quarterly basis, the Company accrues for the capital gains incentive fee by calculating such fee as if it were due and payable as of the end of such period.

While the investment advisory agreement with CIM neither includes nor contemplates the inclusion of unrealized gains in the calculation of the capital gains incentive fee, pursuant to an interpretation of the American Institute for Certified Public Accountants, or AICPA, Technical Practice Aid for investment companies, the Company accrues capital gains incentive fees on unrealized gains. This accrual reflects the incentive fees that would be payable to CIM if the Company’s entire investment portfolio was liquidated at its fair value as of the balance sheet date even though CIM is not entitled to an incentive fee with respect to unrealized gains unless and until such gains are actually realized.

Net (Decrease) Increase in Net Assets per Share

Net (decrease) increase in net assets per share is calculated based upon the daily weighted average number of shares of common stock outstanding during the reporting period.

Distributions

Distributions to shareholders are recorded as of the record date. The amount paid as a distribution is declared by the Company's co-chief executive officers and ratified by the board of directors on a quarterly basis. Net realized capital gains, if any, are distributed at least annually.

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Share Transactions

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

Share Transactions

Share Transactions

The Company’s initial continuous public offering commenced on July 2, 2012 and ended on December 31, 2015. The Company’s follow-on continuous public offering commenced on January 25, 2016 and ended on January 25, 2019.

The following table summarizes transactions with respect to shares of the Company’s outstanding common stock during the six months ended June 30, 2023 and 2022 and the year ended December 31, 2022:

	Six Months Ended June 30,						Year Ended December 31,
	2023			2022			2022
	Shares	Amount		Shares	Amount		Shares	Amount
Gross shares/proceeds from the offering	—	$	—	—	$	—	—	$	—
Reinvestment of distributions	—	—		—	—		—	—
Total gross shares/proceeds	—	—		—	—		—	—
Share repurchase program	(666,657)	(6,818)		—	—		(1,658,956)	(15,444)
Net shares/proceeds from share transactions	(666,657)	$	(6,818)	—	$	—	(1,658,956)	$	(15,444)

Since commencing its initial continuous public offering on July 2, 2012 and through June 30, 2023, the Company sold 54,632,827 shares of common stock for net proceeds of $1,138,045. The net proceeds include gross proceeds received from reinvested shareholder distributions of $237,451, for which the Company issued 13,523,489 shares of common stock, and gross proceeds paid for shares of common stock repurchased of $254,692, for which the Company repurchased 15,636,540 shares of common stock. As of June 30, 2023, 15,623,796 shares of common stock repurchased had been retired.

On September 15, 2022, the Company's shareholders approved a proposal that authorizes the Company to issue shares of its common stock at prices below the then current NAV per share of the Company’s common stock in one or more offerings for a 12-month period following such shareholder approval. As of June 30, 2023, the Company had not issued any such shares.

Distribution Reinvestment Plan

In connection with the Listing of its shares of common stock on the NYSE, on September 15, 2021, the Company terminated its previous fifth amended and restated distribution reinvestment plan, or the Old DRP. The final distribution reinvestment under the Old DRP was made as part of the regular monthly distribution paid on September 14, 2021 to shareholders of record as of September 13, 2021. On September 15, 2021, the Company adopted a new distribution reinvestment plan, or the New DRP, which became effective as of the Listing, and first applied to the reinvestment of distributions paid after October 5, 2021. For additional information regarding the terms of the New DRP, see Note 5.

Reverse Stock Split

Effective on September 21, 2021, every two shares of the Company's common stock then issued and outstanding were automatically combined into one share of the Company's common stock, with the number of then issued and outstanding shares reduced from 113,916,869 to 56,958,440. The reverse stock split amendment also provided that there was no change in the par value of $0.001 per share as a result of the reverse stock split. In addition, the reverse stock split did not modify the rights or preferences of the Company’s common stock.

Listing and Fractional Shares

On October 5, 2021, the Company's shares of common stock commenced trading on the NYSE under the ticker symbol “CION”. As approved by shareholders on September 7, 2021, the Listing was staggered such that (i) up to 1/3rd of shares held by all shareholders were available for trading upon Listing, (ii) up to 2/3rd of shares held by all shareholders were available for trading starting 180 days after Listing, or April 4, 2022, and (iii) all shares were available for trading starting 270 days after Listing, or July 5, 2022. The Company eliminated all then outstanding fractional shares of its common stock in connection with the Listing, as permitted by the Maryland General Corporation Law, on July 14, 2022. On February 26, 2023, the Company’s shares of common stock also listed and commenced trading on the TASE under the ticker symbol “CION”.

Pre-Listing Share Repurchase Program

Historically, the Company offered to repurchase shares on a quarterly basis on such terms as determined by the Company’s board of directors in its complete and absolute discretion unless, in the judgment of the independent directors of the Company’s board of directors, such repurchases would not have been in the best interests of the Company’s shareholders or would have violated applicable law.

On July 30, 2021, the Company's board of directors, including the independent directors, determined to suspend the Company's share repurchase program commencing with the third quarter of 2021 in anticipation of the Listing and the concurrent enhanced liquidity the Listing was expected to provide. The share repurchase program ultimately terminated upon the Listing and the Company does not expect to implement a new quarterly share repurchase program in the future.

Historically, the Company generally limited the number of shares to be repurchased during any calendar year to the number of shares it could have repurchased with the proceeds it received from the issuance of shares pursuant to the Old DRP. At the discretion of the Company’s board of directors, it could have also used cash on hand, cash available from borrowings and cash from liquidation of investments as of the end of the applicable period to repurchase shares. The Company offered to repurchase such shares at a price equal to the estimated net asset value per share on each date of repurchase.

Any periodic repurchase offers were subject in part to the Company’s available cash and compliance with the BDC and RIC qualification and diversification rules promulgated under the 1940 Act and the Code, respectively.

Post-Listing Share Repurchase Policy

On September 15, 2021, the Company’s board of directors, including the independent directors, approved a share repurchase policy authorizing the Company to repurchase up to $50 million of its outstanding common stock after the Listing. On June 24, 2022, the Company’s board of directors, including the independent directors, increased the amount of shares of the Company’s common stock that may be repurchased under the share repurchase policy by $10 million to up to an aggregate of $60 million. Under the share repurchase policy, the Company may purchase shares of its common stock through various means such as open market transactions, including block purchases, and privately negotiated transactions. The number of shares repurchased and the timing, manner, price and amount of any repurchases will be determined at the Company's discretion. Factors include, but are not limited to, share price, trading volume and general market conditions, along with the Company’s general business conditions. The policy may be suspended or discontinued at any time and does not obligate the Company to acquire any specific number of shares of its common stock.

On August 16, 2022, as part of the share repurchase policy, the Company entered into a trading plan with an independent broker, Wells Fargo Securities, LLC, or Wells Fargo, in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, based in part on historical trading data with respect to the Company’s shares. The 10b5-1 trading plan permits common stock to be repurchased at a time that the Company might otherwise be precluded from doing so under insider trading laws or self-imposed trading restrictions. The 10b5-1 trading plan is subject to price, market volume and timing restrictions.

The following table summarizes the share repurchases completed during the year ended December 31, 2022 and the six months ended June 30, 2023:

Three Months Ended	Repurchase Date	Shares Repurchased	Percentage of Shares Tendered That Were Repurchased	Repurchase Price Per Share		Aggregate Consideration for Repurchased Shares
2022
March 31, 2022	N/A	—	N/A	N/A		$	—
June 30, 2022	N/A	—	N/A	N/A		—
September 30, 2022	N/A	695,476	N/A	$	9.65	6,711
December 31, 2022	N/A	963,480	N/A	9.06		8,733
Total for the year ended December 31, 2022		1,658,956				$	15,444
2023
March 31, 2023	N/A	338,029	N/A	$	10.63	$	3,592
June 30, 2023	N/A	328,628	N/A	9.81		3,226
Total for the six months ended June 30, 2023		666,657				$	6,818

From July 1, 2023 to August 2, 2023, the Company repurchased 57,691 shares of common stock under the 10b5-1 trading plan for an aggregate purchase price of $621, or an average purchase price of $10.76 per share. As of August 2, 2023, 15,690,588 shares of common stock repurchased by the Company had been retired.

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Transactions with Related Parties

6 Months Ended

Jun. 30, 2023

Related Party Transactions [Abstract]

Transactions with Related Parties

Transactions with Related Parties

For the three and six months ended June 30, 2023 and 2022 and the year ended December 31, 2022, fees and other expenses incurred by the Company related to CIM and its affiliates were as follows:

			Three Months Ended June 30,				Six Months Ended June 30,				Year Ended December 31,
Entity	Capacity	Description	2023		2022		2023		2022		2022
CIM	Investment adviser	Management fees(1)	$	6,546	$	6,839	$	13,222	$	13,494	$	27,361
CIM	Investment adviser	Incentive fees(1)	4,965		4,091		11,300		8,224		18,710
CIM	Administrative services provider	Administrative services expense(1)	910		781		1,747		1,501		3,348
			$	12,421	$	11,711	$	26,269	$	23,219	$	49,419

(1)Amounts charged directly to operations.

The Company has entered into an investment advisory agreement with CIM. On August 7, 2023, the board of directors of the Company, including a majority of the board of directors who are not interested persons, approved the renewal of the second amended and restated investment advisory agreement with CIM for a period of twelve months, commencing August 9, 2023. Pursuant to the investment advisory agreement in effect prior to the Listing, CIM was paid an annual base management fee equal to 2.0% of the average value of the Company’s gross assets, less cash and cash equivalents, and an incentive fee based on the Company’s performance, as described below. Pursuant to the second amended and restated investment advisory agreement, which was effective upon the Listing on October 5, 2021, the annual base management fee was reduced to 1.5% of the average value of the Company’s gross assets (including cash pledged as collateral for the Company’s secured financing arrangements, but excluding other cash and cash equivalents so that investors do not pay the base management fee on such assets), to the extent that the Company’s asset coverage ratio is greater than or equal to 200% (i.e., $1 of debt outstanding for each $1 of equity); provided that, the annual base management fee will be reduced further to 1.0% for any such gross assets purchased with leverage resulting in the Company’s asset coverage ratio dropping below 200%. On December 30, 2021, shareholders approved a proposal to reduce the Company’s asset coverage ratio to 150%. As a result, commencing on December 31, 2021, the Company is required to maintain asset coverage for its senior securities of 150% (i.e., $2 of debt outstanding for each $1 of equity) rather than 200%. The base management fee is payable quarterly in arrears and is calculated based on the two most recently completed calendar quarters.

The incentive fee consists of two parts. The first part, which is referred to as the subordinated incentive fee on income, is calculated and payable quarterly in arrears based on “pre-incentive fee net investment income” for the immediately preceding quarter and was subject to a hurdle rate, measured quarterly and expressed as a rate of return on adjusted capital, as defined in the investment advisory agreement in effect prior to the Listing, equal to 1.875% per quarter, or an annualized rate of 7.5%. Under the investment advisory agreement in effect prior to the Listing, the Company paid to CIM 100% of pre-incentive fee net investment income once the hurdle rate was exceeded until the annualized rate of 9.375% was exceeded, at which point the Company paid to CIM 20% of all pre-incentive fee net investment income that exceeded the annualized rate of 9.375%. Under the amended and restated investment advisory agreement also in effect prior to the Listing, the change to the calculation of the subordinated incentive fee payable to CIM that expresses the hurdle rate required for CIM to earn, and be paid, the incentive fee as a percentage of the Company's net assets rather than adjusted capital was implemented. Under the second amended and restated investment advisory agreement, the hurdle rate was reduced to 1.625% per quarter, or an annualized rate of 6.5%, and the Company pays to CIM 100% of pre-incentive fee net investment income once the hurdle rate is exceeded until the annualized rate of 7.879% is exceeded, at which point the Company pays to CIM 17.5% of all pre-incentive fee net investment income. These changes to the subordinated incentive fee on income were effective upon the Listing, except for the change to the calculation of the subordinated incentive fee payable to CIM that replaced adjusted capital with the Company's net assets, which was effective on August 10, 2021. For the three months ended June 30, 2023 and 2022, the Company recorded subordinated incentive fees on income of $4,965 and $4,091, respectively. For the six months ended June 30, 2023 and 2022, the Company recorded subordinated incentive fees on income of $11,300 and $8,224, respectively. As of June 30, 2023 and December 31, 2022, the liabilities recorded for subordinated incentive fees were $4,967 and $5,065, respectively. The second part of the incentive fee, which is referred to as the capital gains incentive fee, is described in Note 2.

The Company accrues the capital gains incentive fee based on net realized gains and net unrealized appreciation; however, under the terms of the investment advisory agreement, the fee payable to CIM is based on net realized gains and unrealized depreciation and no such fee is payable with respect to unrealized appreciation unless and until such appreciation is actually realized. For the three and six months ended June 30, 2023 and 2022 and the year ended December 31, 2022, the Company had no liability for and did not record any capital gains incentive fees.

On April 1, 2018, the Company entered into an administration agreement with CIM pursuant to which CIM furnishes the Company with administrative services including accounting, investor relations and other administrative services necessary to conduct its day-to-day operations. CIM is reimbursed for administrative expenses it incurs on the Company’s behalf in performing its obligations, provided that such reimbursement is for the lower of CIM’s actual costs or the amount that the Company would have been required to pay for comparable administrative services in the same geographic location. Such costs are reasonably allocated to the Company on the basis of assets, revenues, time records or other reasonable methods. The Company does not reimburse CIM for any services for which it receives a separate fee or for rent, depreciation, utilities, capital equipment or other administrative items allocated to a person with a controlling interest in CIM. On November 8, 2022, the board of directors of the Company, including a majority of the board of directors who are not interested persons, approved the renewal of the administration agreement with CIM for a period of twelve months commencing December 17, 2022.

On January 30, 2013, the Company entered into the expense support and conditional reimbursement agreement with CIG, whereby CIG agreed to provide expense support to the Company in an amount that was sufficient to: (1) ensure that no portion of the Company’s distributions to shareholders was paid from its offering proceeds or borrowings, and/or (2) reduce the Company’s operating expenses until it achieved economies of scale sufficient to ensure that the Company bore a reasonable level of expense in relation to its investment income. On December 16, 2015, the Company further amended and restated the expense support and conditional reimbursement agreement for purposes of including AIM as a party to the agreement. On January 2, 2018, the Company entered into an expense support and conditional reimbursement agreement with CIM for purposes of, among other things, replacing CIG and AIM with CIM as the expense support provider pursuant to the terms of the expense support and conditional reimbursement agreement.

Pursuant to the expense support and conditional reimbursement agreement, the Company had a conditional obligation to reimburse CIM for any amounts funded by CIM under such agreement (i) if expense support amounts funded by CIM exceeded operating expenses incurred during any fiscal quarter, (ii) if the sum of the Company’s net investment income for tax purposes, net capital gains and the amount of any dividends and other distributions paid to the Company on account of investments in portfolio companies (to the extent not included in net investment income or net capital gains for tax purposes) exceeded the distributions paid by the Company to shareholders, and (iii) during any fiscal quarter that occurred within three years of the date on which CIM funded such amount. The obligation to reimburse CIM for any expense support provided by CIM under such agreement was further conditioned by the following: (i) in the period in which reimbursement was sought, the ratio of operating expenses to average net assets, when considering the reimbursement, could not have exceeded the ratio of operating expenses to average net assets, as defined, for the period when the expense support was provided; (ii) in the period when reimbursement was sought, the annualized distribution rate could not have fallen below the annualized distribution rate for the period when the expense support was provided; and (iii) the expense support could have only been reimbursed within three years from the date the expense support was provided.

Expense support, if any, was determined as appropriate to meet the objectives of the expense support and conditional reimbursement agreement. On December 31, 2021, the Company and CIM allowed the expense support and conditional reimbursement agreement to expire in accordance with its terms. There was no unreimbursed expense support funded by CIM upon such expiration. The specific amount of expense support provided by CIM, if any, was determined at the end of each quarter. See Note 5 for additional information on the sources of the Company’s distributions. The Company did not record any obligation to repay expense support from CIM and the Company did not repay any expense support to CIM during the three and six months ended June 30, 2023 and 2022 or the year ended December 31, 2022.

As of June 30, 2023 and December 31, 2022, the total liability payable to CIM and its affiliates was $12,087 and $13,692, respectively, which primarily related to fees earned by CIM during the three months ended June 30, 2023 and December 31, 2022, respectively.

In the event that CIM undertakes to provide investment advisory services to other clients in the future, it will strive to allocate investment opportunities in a fair and equitable manner consistent with the Company’s investment objective and strategies so that the Company will not be disadvantaged in relation to any other client of the investment adviser or its senior management team. However, it is currently possible that some investment opportunities will be provided to other clients of CIM rather than to the Company.

Indemnifications

The investment advisory agreement, the administration agreement and the dealer manager agreement each provide certain indemnifications from the Company to the other relevant parties to such agreements. The Company’s maximum exposure under these agreements is unknown. However, the Company has not experienced claims or losses pursuant to these agreements and believes the risk of loss related to such indemnifications to be remote.

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Distributions

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

Distributions

Distributions

From February 1, 2014 through July 17, 2017, the Company’s board of directors authorized and declared on a monthly basis a weekly distribution amount per share of common stock. On July 18, 2017, the Company's board of directors authorized and declared on a quarterly basis a weekly distribution amount per share of common stock. Effective September 28, 2017, the Company's board of directors delegated to management the authority to determine the amount, record dates, payment dates and other terms of distributions to shareholders, which will be ratified by the board of directors, each on a quarterly basis. Beginning on March 19, 2020, management changed the timing of declaring distributions from quarterly to monthly and temporarily suspended the payment of distributions to shareholders commencing with the month ended April 30, 2020, whether in cash or pursuant to the Old DRP. On July 15, 2020, the board of directors determined to recommence the payment of distributions to shareholders in August 2020. On September 15, 2021, management changed the timing of declaring and paying regular distributions to shareholders from monthly to quarterly commencing with the fourth quarter of 2021. Distributions in respect of future quarters will be evaluated by management and the board of directors based on circumstances and expectations existing at the time of consideration. Declared distributions are paid quarterly.

The Company’s board of directors ratified distributions for 5 and 2 record dates during the year ended December 31, 2022 and the six months ended June 30, 2023, respectively.

The following table presents distributions per share that were declared during the year ended December 31, 2022 and the six months ended June 30, 2023:

	Distributions
Three Months Ended	Per Share		Amount
2022
March 31, 2022 (one record date)	$	0.2800	$	15,948
June 30, 2022 (one record date)	0.2800		15,949
September 30, 2022 (one record date)	0.3100		17,604
December 31, 2022 (two record dates)	0.5800		32,074
Total distributions for the year ended December 31, 2022	$	1.4500	$	81,575
2023
March 31, 2023 (one record date)	$	0.3400	$	18,687
June 30, 2023 (one record date)	0.3400		18,614
Total distributions for the six months ended June 30, 2023	$	0.6800	$	37,301

On August 7, 2023, the Company’s co-chief executive officers declared (i) a regular quarterly distribution of $0.34 per share for the third quarter of 2023 payable on September 15, 2023 to shareholders of record as of September 1, 2023 and (ii) a supplemental distribution of $0.05 per share for both the third and fourth quarters of 2023, payable on October 16, 2023 and January 15, 2024, respectively, to shareholders of record as of September 29, 2023 and December 29, 2023, respectively.

In connection with the Listing of its shares of common stock on the NYSE, on September 15, 2021, the Company terminated the Old DRP. The final distribution reinvestment under the Old DRP was made as part of the regular monthly distribution paid on September 14, 2021 to shareholders of record as of September 13, 2021. On September 15, 2021, the Company adopted the New DRP, which became effective as of the Listing and first applied to the reinvestment of distributions paid on December 8, 2021.

Under the Old DRP and prior to the Listing, distributions to participating shareholders who “opted in” to the Old DRP were reinvested in additional shares of the Company's common stock at a purchase price equal to the estimated net asset value per share of common stock as of the date of issuance.

Upon the Listing, all shareholders were automatically enrolled in the New DRP and will receive distributions as declared by the Company in additional shares of its common stock unless such shareholder affirmatively elects to receive an entire distribution in cash by notifying (i) such shareholder’s financial adviser; or (ii) if such shareholder has a registered account maintained at the Company’s transfer agent, the plan administrator. With respect to distributions to participating shareholders under the New DRP, the Company reserves the right to either issue new shares or cause the plan administrator to purchase shares in the open market in connection with implementation of the New DRP. Unless the Company, in its sole discretion, otherwise directs DST Asset Management Solutions, Inc., the plan administrator, (A) if the per share “market price” (as defined in the New DRP) is equal to or greater than the estimated net asset value per share on the payment date for the distribution, then the Company will issue shares at the greater of (i) the estimated net asset value or (ii) 95% of the market price, or (B) if the market price is less than the estimated net asset value, then, in the Company’s sole discretion, (i) shares will be purchased in open market transactions for the accounts of participating shareholders to the extent practicable, or (ii) the Company will issue shares at the estimated net asset value. Pursuant to the terms of the New DRP, the number of shares to be issued to a participating shareholder will be determined by dividing the total dollar amount of the distribution payable to a participating shareholder by the price per share at which the Company issues such shares; provided, however, that shares purchased in open market transactions by the plan administrator will be allocated to a participating shareholder based on the weighted average purchase price, excluding any brokerage charges or other charges, of all shares purchased in the open market with respect to such distribution.

If a shareholder receives distributions in the form of common stock pursuant to the New DRP, such shareholder generally will be subject to the same federal, state and local tax consequences as if they elected to receive distributions in cash. If the Company’s common stock is trading at or below net asset value, a shareholder receiving distributions in the form of additional common stock will be treated as receiving a distribution in the amount of cash that such shareholder would have received if they had elected to receive the distribution in cash. If the Company’s common stock is trading above net asset value, a shareholder receiving distributions in the form of additional common stock will be treated as receiving a distribution in the amount of the fair market value of the Company’s common stock. The shareholder’s basis for determining gain or loss upon the sale of common stock received in a distribution will be equal to the total dollar amount of the distribution payable to the shareholder. Any stock received in a distribution will have a holding period for tax purposes commencing on the day following the day on which the shares of common stock are credited to the shareholder’s account.

The following table below provides information concerning the Company’s repurchases of shares of its common stock in the open market during the three months ended June 30, 2023 pursuant to the New DRP in order to satisfy the reinvestment portion of the Company’s distributions:

Period	Total Number of Shares Purchased	Average Price Paid per Share		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	Maximum Number of Shares That May Yet Be Purchased Under the Plans or Programs
April 1 to April 30, 2023	—	$	—	—	—
May 1 to May 31, 2023	—	—		—	—
June 1 to June 30, 2023	174,424	10.71		174,424	(1)
Total	174,424	$	10.71	174,424	(1)

(1) See description above.

The Company may fund its distributions to shareholders from any sources of funds available to the Company, including borrowings, net investment income from operations, capital gains proceeds from the sale of assets, non-capital gains proceeds from the sale of assets, and dividends or other distributions paid to it on account of preferred and common equity investments in portfolio companies. Any such distributions can only be sustained if the Company maintains positive investment performance in future periods. There can be no assurances that the Company will maintain such performance in order to sustain these distributions or be able to pay distributions at all. On December 31, 2021, the Company and CIM allowed the expense support and conditional reimbursement agreement to expire in accordance with its terms. As a result, CIM has no obligation to provide expense support to the Company in future periods. The Company has not established limits on the amount of funds it may use from available sources to make distributions.

The following table reflects the sources of distributions on a GAAP basis that the Company has declared on its shares of common stock during the six months ended June 30, 2023 and 2022 and the year ended December 31, 2022:

	Six Months Ended June 30,												Year Ended December 31,
	2023						2022						2022
Source of Distribution	Per Share		Amount		Percentage		Per Share		Amount		Percentage		Per Share		Amount		Percentage
Net investment income	$	0.6800	$	37,301	100.0	%	$	0.5600	$	31,897	100.0	%	$	1.4500	$	81,575	100.0	%
Total distributions	$	0.6800	$	37,301	100.0	%	$	0.5600	$	31,897	100.0	%	$	1.4500	$	81,575	100.0	%

It is the Company's policy to comply with all requirements of the Code applicable to RICs and to distribute at least 90% of its taxable income to its shareholders. In addition, by distributing during each calendar year at least 90% of its “investment company taxable income”, which is generally equal to the sum of the Company’s net ordinary income plus the excess, if any, of realized net short-term capital gains over realized net long-term capital losses, the Company intends not to be subject to corporate level federal income tax. Accordingly, no federal income tax provision was required for the year ended December 31, 2022. The Company will also be subject to nondeductible federal excise taxes of 4% if the Company does not distribute at least 98.0% of net ordinary income, 98.2% of capital gains, if any, and any recognized and undistributed income from prior years for which it paid no federal income taxes.

Income and capital gain distributions are determined in accordance with the Code and federal tax regulations, which may differ from amounts determined in accordance with GAAP. These book/tax differences, which could be material, are primarily due to differing treatments of income and gains on various investments held by the Company. Permanent book/tax differences result in reclassifications to capital in excess of par value, accumulated undistributed net investment income and accumulated undistributed realized gain on investments.

The determination of the tax attributes of the Company’s distributions is made annually as of the end of the Company’s fiscal year based upon the Company’s taxable income for the full year and distributions paid for the full year. The tax characteristics of distributions to shareholders are reported to shareholders annually on Form 1099-DIV. All distributions for 2022 were characterized as ordinary income distributions for federal income tax purposes.

The tax components of accumulated earnings or losses for the current year will be determined at year end. As of December 31, 2022, the components of accumulated losses on a tax basis were as follows:

	December 31, 2022
Undistributed ordinary income	$	8,543
Other accumulated losses(1)	(77,942)
Net unrealized depreciation on investments	(91,091)
Total accumulated losses	$	(160,490)

(1)Includes short term capital loss carryforwards of $7,233 and long term capital loss carryforwards of $66,284.

As of June 30, 2023, the aggregate gross unrealized appreciation for all securities in which there was an excess of value over tax cost was $26,828; the aggregate gross unrealized depreciation for all securities in which there was an excess of tax cost over value was $169,033; the net unrealized depreciation was $142,205; and the aggregate cost of securities for Federal income tax purposes was $1,930,667.

As of December 31, 2022, the aggregate gross unrealized appreciation for all securities in which there was an excess of value over tax cost was $31,155; the aggregate gross unrealized depreciation for all securities in which there was an excess of tax cost over value was $122,246; the net unrealized depreciation was $91,091; and the aggregate cost of securities for Federal income tax purposes was $1,851,121.

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Investments

6 Months Ended

Jun. 30, 2023

Investments, Debt and Equity Securities [Abstract]

Investments

Investments

The composition of the Company’s investment portfolio as of June 30, 2023 and December 31, 2022 at amortized cost and fair value was as follows:

	June 30, 2023						December 31, 2022
	Cost(1)		Fair Value		Percentage of Investment Portfolio		Cost(1)		Fair Value		Percentage of Investment Portfolio
Senior secured first lien debt	$	1,546,799	$	1,468,630	87.0	%	$	1,638,995	$	1,579,512	90.3	%
Senior secured second lien debt	41,153		39,544		2.3	%	41,036		38,769		2.2	%
Collateralized securities and structured products - equity	2,510		1,046		0.1	%	2,687		1,179		0.1	%
Unsecured debt	34,635		17,301		1.0	%	30,427		22,643		1.3	%
Equity	139,145		161,170		9.6	%	79,595		107,058		6.1	%
Subtotal/total percentage	1,764,242		1,687,691		100.0	%	1,792,740		1,749,161		100.0	%
Short term investments(2)	100,771		100,771				10,869		10,869
Total investments	$	1,865,013	$	1,788,462			$	1,803,609	$	1,760,030

(1)Cost represents the original cost adjusted for the amortization of premiums and/or accretion of discounts, as applicable, for debt investments and cost for equity investments.

(2)Short term investments represent an investment in a fund that invests in highly liquid investments with average original maturity dates of three months or less.

The following tables show the composition of the Company’s investment portfolio by industry classification and geographic dispersion, and the percentage, by fair value, of the total investment portfolio assets in such industries and geographies as of June 30, 2023 and December 31, 2022:

	June 30, 2023				December 31, 2022
Industry Classification	Investments at Fair Value		Percentage of Investment Portfolio		Investments at Fair Value		Percentage of Investment Portfolio
Services: Business	$	302,710	18.0	%	$	336,055	19.2	%
Healthcare & Pharmaceuticals	236,791		14.0	%	237,082		13.6	%
Media: Diversified & Production	122,742		7.3	%	134,927		7.7	%
Media: Advertising, Printing & Publishing	110,139		6.5	%	105,375		6.0	%
Services: Consumer	105,328		6.3	%	115,849		6.6	%
Diversified Financials	81,052		4.8	%	99,819		5.7	%
Construction & Building	71,133		4.2	%	46,007		2.6	%
Chemicals, Plastics & Rubber	67,947		4.0	%	66,753		3.8	%
Energy: Oil & Gas	66,248		3.9	%	68,756		3.9	%
Retail	63,042		3.8	%	74,718		4.3	%
Consumer Goods: Durable	61,172		3.6	%	60,735		3.5	%
Hotel, Gaming & Leisure	60,211		3.6	%	46,739		2.7	%
High Tech Industries	52,664		3.1	%	56,501		3.2	%
Beverage, Food & Tobacco	51,337		3.0	%	45,396		2.6	%
Capital Equipment	46,606		2.8	%	41,580		2.4	%
Consumer Goods: Non-Durable	43,003		2.5	%	47,886		2.8	%
Banking, Finance, Insurance & Real Estate	36,139		2.1	%	43,836		2.5	%
Containers, Packaging & Glass	19,453		1.2	%	19,551		1.1	%
Telecommunications	18,315		1.1	%	18,302		1.1	%
Automotive	16,231		1.0	%	16,255		0.9	%
Metals & Mining	15,781		0.9	%	15,780		0.9	%
Environmental Industries	14,722		0.9	%	—		—
Aerospace & Defense	12,627		0.7	%	38,842		2.2	%
Transportation: Cargo	12,298		0.7	%	12,417		0.7	%
Subtotal/total percentage	1,687,691		100.0	%	1,749,161		100.0	%
Short term investments	100,771				10,869
Total investments	$	1,788,462			$	1,760,030

	June 30, 2023				December 31, 2022
Geographic Dispersion(1)	Investments at Fair Value		Percentage of Investment Portfolio		Investments at Fair Value		Percentage of Investment Portfolio
United States	$	1,675,076	99.3	%	$	1,739,866	99.5	%
Canada	10,682		0.5	%	7,452		0.4	%
Cayman Islands	1,046		0.1	%	1,179		0.1	%
Bermuda	887		0.1	%	664		—
Subtotal/total percentage	1,687,691		100.0	%	1,749,161		100.0	%
Short term investments	100,771				10,869
Total investments	$	1,788,462			$	1,760,030

(1)The geographic dispersion is determined by the portfolio company's country of domicile.

As of June 30, 2023 and December 31, 2022, investments on non-accrual status represented 1.7% and 1.3%, respectively, of the Company's investment portfolio on a fair value basis.

The Company’s investment portfolio may contain senior secured investments that are in the form of lines of credit, delayed draw term loans, revolving credit facilities, or unfunded commitments, which may require the Company to provide funding when requested in accordance with the terms of the underlying agreements. As of June 30, 2023 and December 31, 2022, the Company’s unfunded commitments amounted to $56,378 and $71,420, respectively. As of August 2, 2023, the Company’s unfunded commitments amounted to $54,475. Since these commitments may expire without being drawn upon, unfunded commitments do not necessarily represent future cash requirements or future earning assets for the Company.  Refer to Note 11 for further details on the Company’s unfunded commitments.

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Joint Ventures

6 Months Ended

Jun. 30, 2023

Equity Method Investments and Joint Ventures [Abstract]

Joint Ventures

Joint Ventures

CION/EagleTree Partners, LLC

On December 21, 2021, the Company formed CION/EagleTree, an off-balance sheet joint venture partnership with ET-BC Debt Opportunities, LP, or ET-BC, which is an affiliate of EagleTree Capital, LP, or EagleTree. EagleTree made a Firm-level investment with proprietary capital. CION/EagleTree jointly pursues debt and equity opportunities, as well as special situation, crossover, subordinated and other junior capital investments that leverages the Company's and EagleTree's combined sourcing and portfolio management capabilities.

The Company contributed a portfolio of second lien loans and equity investments and ET-BC contributed proprietary Firm-level cash in exchange for 85% and 15%, respectively, of the senior secured notes, participating preferred equity, and common share interests of CION/EagleTree. The Company and ET-BC are not required to make any additional capital contributions to CION/EagleTree. The Company’s equity investment in CION/EagleTree is not redeemable. All portfolio and other material decisions regarding CION/EagleTree must be submitted to its board of managers, which is comprised of four members, two of whom were selected by the Company and the other two were selected by ET-BC. Further, all portfolio and other material decisions require the affirmative vote of at least one board member from the Company and one board member from ET-BC.

The Company also serves as administrative agent to CION/EagleTree to provide servicing functions and other administrative services. In certain cases, these servicing functions and other administrative services may be performed by CIM.

On December 21, 2021, CION/EagleTree issued senior secured notes of $61,629 to the Company and $10,875 to ET-BC, or the CION/EagleTree Notes. The CION/EagleTree Notes bear interest at a fixed rate of 14.0% per year and are secured by a first priority security interest in all of the assets of CION/EagleTree. The obligations of CION/EagleTree under the CION/EagleTree Notes are non-recourse to the Company.

In accordance with ASU 2015-02, Consolidation, the Company determined that CION/EagleTree is not a variable interest entity, or VIE, as the Company is not the primary beneficiary and therefore does not consolidate CION/EagleTree. The Company's maximum exposure to losses from CION/EagleTree is limited to its investment in CION/EagleTree.

The following table sets forth the individual investments in CION/EagleTree's portfolio as of June 30, 2023:

Portfolio Company	Interest(a)	Maturity	Industry	Principal/ Par Amount/ Units		Cost(b)		Fair Value
Senior Secured First Lien Debt
Berlitz Holdings, Inc.(g)	S+900, 1.00% SOFR Floor	2/14/2025	Services: Business	$	1,200	$	1,141	$	1,167
Community Tree Service, LLC(h)	S+1100, 1.00% SOFR Floor	6/17/2027	Construction & Building	460		460		452
Future Pak, LLC(g)	S+1000, 2.00% SOFR Floor	7/2/2024	Healthcare & Pharmaceuticals	1,162		1,155		1,162
Total Senior Secured First Lien Debt						2,756		2,781
Senior Secured Second Lien Debt
Access CIG, LLC(f)	L+775, 0.00% LIBOR Floor	2/27/2026	Services: Business	7,250		7,225		7,105
MedPlast Holdings, Inc.(e)	L+775, 0.00% LIBOR Floor	7/2/2026	Healthcare & Pharmaceuticals	6,750		6,206		6,539
Total Senior Secured Second Lien Debt						13,431		13,644
Collateralized Securities and Structured Products - Equity
Ivy Hill Middle Market Credit Fund VIII, Ltd. Subordinated Loan(c)	11.84% Estimated Yield	2/2/2026	Diversified Financials	10,000		9,796		9,263
Total Collateralized Securities and Structured Products - Equity						9,796		9,263
Equity
American Clinical Solutions LLC, Class A Membership Interests(d)			Healthcare & Pharmaceuticals	6,030,384 Units		5,200		5,910
Anthem Sports and Entertainment Inc., Class A Preferred Stock Warrants(d)			Media: Diversified & Production	1,469 Units		486		1,553
Anthem Sports and Entertainment Inc., Class B Preferred Stock Warrants(d)			Media: Diversified & Production	255 Units		—		171
Anthem Sports and Entertainment Inc., Common Stock Warrants(d)			Media: Diversified & Production	4,746 Units		—		96
BCP Great Lakes II - Series A Holdings LP, Partnership Interests (4.2% ownership)			Diversified Financials	N/A		13,100		12,672
Carestream Health Holdings, Inc., Common Stock(d)			Healthcare & Pharmaceuticals	613,262 Units		21,759		20,716
CHC Medical Partners, Inc., Series C Preferred Stock, 12% Dividend			Healthcare & Pharmaceuticals	2,727,273 Units		8,055		9,321
CTS Ultimate Holdings LLC, Class A Preferred Units(d)			Construction & Building	3,578,701 Units		1,000		608
Dayton HoldCo, LLC, Membership Units(d)			Construction & Building	37,264 Units		8,400		14,537
HDNet Holdco LLC, Preferred Unit Call Option(d)			Media: Diversified & Production	1 Unit		—		100
HW Ultimate Holdings, LP, Class A Membership Units, 4% Dividend(i)			Capital Equipment	2,000,000 Units		2,082		—
Language Education Holdings GP LLC, Common Units(d)			Services: Business	133,333 Units		—		—
Language Education Holdings LP, Ordinary Common Units(d)			Services: Business	133,333 Units		300		495
Skillsoft Corp., Class A Common Stock(d)			High Tech Industries	243,425 Units		2,000		302
Spinal USA, Inc. / Precision Medical Inc., Warrants(d)			Healthcare & Pharmaceuticals	20,667,324 Units		—		—
Total Equity						62,382		66,481
Short Term Investments
First American Treasury Obligations Fund, Class Z Shares						1,443		1,443
Total Short Term Investments						1,443		1,443
TOTAL INVESTMENTS						$	89,808	$	93,612

a.The actual LIBOR rate for each loan listed may not be the applicable LIBOR rate as of June 30, 2023, as the loan may have been priced or repriced based on a LIBOR rate prior to or subsequent to June 30, 2023. The actual SOFR rate for each loan listed may not be the applicable SOFR rate as of June 30, 2023, as the loan may have been priced or repriced based on a SOFR rate prior to or subsequent to June 30, 2023.

b.Represents amortized cost for debt securities and cost for equity investments.

c.The CLO subordinated notes are considered equity positions in the CLO vehicles and are not rated. Equity investments are entitled to recurring distributions, which are generally equal to the remaining cash flow of the payments made by the underlying vehicle's securities less contractual payments to debt holders and expenses. The estimated yield indicated is based upon a current projection of the amount and timing of these recurring distributions and the estimated amount of repayment of principal upon termination. Such projections are periodically reviewed and adjusted, and the estimated yield may not ultimately be realized.

d.Non-income producing security.

e.The interest rate on these loans is subject to 1 month LIBOR, which as of June 30, 2023 was 5.22%.

f.The interest rate on these loans is subject to 3 month LIBOR, which as of June 30, 2023 was 5.54%.

g.The interest rate on these loans is subject to 1 month SOFR, which as of June 30, 2023 was 5.14%.

h.The interest rate on these loans is subject to 3 month SOFR, which as of June 30, 2023 was 5.27%.

i.Investment or a portion thereof was on non-accrual status as of June 30, 2023.

The following table sets forth the individual investments in CION/EagleTree's portfolio as of December 31, 2022:

Portfolio Company	Interest(a)	Maturity	Industry	Principal/ Par Amount/ Units		Cost(b)		Fair Value
Senior Secured First Lien Debt
Berlitz Holdings, Inc.(g)	S+900, 1.00% SOFR Floor	2/14/2025	Services: Business	$	1,200	$	1,125	$	1,146
Community Tree Service, LLC(h)	S+850, 1.00% SOFR Floor	6/17/2027	Construction & Building	499		499		489
Future Pak, LLC(e)	L+800, 2.00% LIBOR Floor	7/2/2024	Healthcare & Pharmaceuticals	1,395		1,382		1,372
Total Senior Secured First Lien Debt						3,006		3,007
Senior Secured Second Lien Debt
Access CIG, LLC(f)	L+775, 0.00% LIBOR Floor	2/27/2026	Services: Business	7,250		7,220		6,933
Dayton Superior Corp.(e)	L+700, 2.00% LIBOR Floor	12/4/2024	Construction & Building	1,010		1,010		1,007
MedPlast Holdings, Inc.(e)	L+775, 0.00% LIBOR Floor	7/2/2026	Healthcare & Pharmaceuticals	6,750		6,135		6,337
Zest Acquisition Corp.(e)	L+700, 1.00% LIBOR Floor	3/14/2026	Healthcare & Pharmaceuticals	15,000		14,820		14,175
Total Senior Secured Second Lien Debt						29,185		28,452
Collateralized Securities and Structured Products - Equity
Ivy Hill Middle Market Credit Fund VIII, Ltd. Subordinated Loan(c)	11.84% Estimated Yield	2/2/2026	Diversified Financials	10,000		9,874		9,523
Total Collateralized Securities and Structured Products - Equity						9,874		9,523
Equity
American Clinical Solutions LLC, Class A Membership Interests(d)			Healthcare & Pharmaceuticals	6,030,384 Units		5,200		3,618
Anthem Sports and Entertainment Inc., Class A Preferred Stock Warrants(d)			Media: Diversified & Production	1,469 Units		486		1,881
Anthem Sports and Entertainment Inc., Class B Preferred Stock Warrants(d)			Media: Diversified & Production	255 Units		—		187
Anthem Sports and Entertainment Inc., Common Stock Warrants(d)			Media: Diversified & Production	4,746 Units		—		580
BCP Great Lakes II - Series A Holdings LP, Partnership Interests (4.2% ownership)			Diversified Financials	N/A		11,436		11,058
Carestream Health Holdings, Inc., Common Stock(d)			Healthcare & Pharmaceuticals	613,262 Units		21,759		21,544
CHC Medical Partners, Inc., Series C Preferred Stock, 12% Dividend			Healthcare & Pharmaceuticals	2,727,273 Units		7,891		8,877
CTS Ultimate Holdings LLC, Class A Preferred Units(d)			Construction & Building	3,578,701 Units		1,000		859
Dayton HoldCo, LLC, Membership Units(d)			Construction & Building	37,264 Units		8,400		15,334
HDNet Holdco LLC, Preferred Unit Call Option(d)			Media: Diversified & Production	1 Unit		—		185
HW Ultimate Holdings, LP, Class A Membership Units, 4% Dividend			Capital Equipment	2,000,000 Units		2,082		130
Language Education Holdings GP LLC, Common Units(d)			Services: Business	133,333 Units		—		—
Language Education Holdings LP, Ordinary Common Units(d)			Services: Business	133,333 Units		300		427
Skillsoft Corp., Class A Common Stock(d)			High Tech Industries	243,425 Units		2,000		316
Spinal USA, Inc. / Precision Medical Inc., Warrants(d)			Healthcare & Pharmaceuticals	20,667,324 Units		—		—
Total Equity						60,554		64,996
TOTAL INVESTMENTS						$	102,619	$	105,978

a.The actual LIBOR rate for each loan listed may not be the applicable LIBOR rate as of December 31, 2022, as the loan may have been priced or repriced based on a LIBOR rate prior to or subsequent to December 31, 2022. The actual SOFR rate for each loan listed may not be the applicable SOFR rate as of December 31, 2022, as the loan may have been priced or repriced based on a SOFR rate prior to or subsequent to December 31, 2022.

b.Represents amortized cost for debt securities and cost for equity investments.

c.The CLO subordinated notes are considered equity positions in the CLO vehicles and are not rated. Equity investments are entitled to recurring distributions, which are generally equal to the remaining cash flow of the payments made by the underlying vehicle's securities less contractual payments to debt holders and expenses. The estimated yield indicated is based upon a current projection of the amount and timing of these recurring distributions and the estimated amount of repayment of principal upon termination. Such projections are periodically reviewed and adjusted, and the estimated yield may not ultimately be realized.

d.Non-income producing security.

e.The interest rate on these loans is subject to 1 month LIBOR, which as of December 31, 2022 was 4.39%.

f.The interest rate on these loans is subject to 3 month LIBOR, which as of December 31, 2022 was 4.77%.

g.The interest rate on these loans is subject to 1 month SOFR, which as of December 31, 2022 was 4.36%.

h.The interest rate on these loans is subject to 3 month SOFR, which as of December 31, 2022 was 4.59%.

The following table includes selected balance sheet information for CION/EagleTree as of June 30, 2023 and December 31, 2022:

Selected Balance Sheet Information:	June 30, 2023		December 31, 2022
Investments, at fair value (amortized cost of $89,808 and $102,619, respectively)	$	93,612	$	105,978
Cash and other assets	—		2,476
Dividend receivable on investments	479		225
Interest receivable on investments	284		301
Total assets	$	94,375	$	108,980
Senior secured notes (net of unamortized debt issuance costs of $82 and $94, respectively)	$	64,420	$	70,904
Other liabilities	333		1,881
Total liabilities	64,753		72,785
Members' capital	29,622		36,195
Total liabilities and members' capital	$	94,375	$	108,980

The following table includes selected statement of operations information for CION/EagleTree for the three and six months ended June 30, 2023 and 2022 and for the year ended December 31, 2022:

	Three Months Ended June 30,				Six Months Ended June 30,				Year Ended December 31,
Selected Statement of Operations Information:	2023		2022		2023		2022		2022
Total revenues	$	1,468	$	1,839	$	3,063	$	3,723	$	9,653
Total expenses	2,566		2,802		5,258		5,522		11,120
Net realized gain on investments	—		—		176		—		9,947
Net change in unrealized appreciation (depreciation) on investments	409		(695)		446		(153)		(5,839)
Net (decrease) increase in net assets	$	(689)	$	(1,658)	$	(1,573)	$	(1,952)	$	2,641

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Financing Arrangements

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Financing Arrangements

Financing Arrangements

The following table presents summary information with respect to the Company’s outstanding financing arrangements as of June 30, 2023: 

Financing Arrangement	Type of Financing Arrangement	Rate	Amount Outstanding		Amount Available		Maturity Date
JPM Credit Facility	Term Loan Credit Facility	SOFR+3.20%	$	600,000	$	75,000	May 15, 2025
2026 Notes(1)	Note Purchase Agreement	4.50%	125,000		—		February 11, 2026
UBS Facility	Repurchase Agreement	SOFR+3.525%	100,000		50,000		November 19, 2024
Series A Notes	Israel Public Bond Offering	SOFR+3.82%	80,712		—		August 31, 2026
2022 More Term Loan	Term Loan Facility Agreement	SOFR+3.50%	50,000		—		April 27, 2027
2021 More Term Loan(2)	Term Loan Facility Agreement	5.20%	30,000		—		September 30, 2024
			$	985,712	$	125,000

(1)As of June 30, 2023, the fair value of the 2026 Notes was $122,500, which was based on a yield analysis and discount rate commensurate with the market yields for similar types of debt. The fair value of these debt obligations would be categorized as Level 3 under ASC 820 as of June 30, 2023.

(2)As of June 30, 2023, the fair value of the 2021 More Term Loan was $29,513, which was based on a yield analysis and discount rate commensurate with the market yields for similar types of debt. The fair value of these debt obligations would be categorized as Level 3 under ASC 820 as of June 30, 2023.

JPM Credit Facility

On August 26, 2016, 34th Street entered into a senior secured credit facility with JPM. The senior secured credit facility with JPM, or the JPM Credit Facility, provided for borrowings in an aggregate principal amount of $150,000, of which $25,000 could have been funded as a revolving credit facility, each subject to conditions described in the JPM Credit Facility. On August 26, 2016, 34th Street drew down $57,000 of borrowings under the JPM Credit Facility.

On September 30, 2016, July 11, 2017, November 28, 2017 and May 23, 2018, 34th Street amended and restated the JPM Credit Facility, or the Amended JPM Credit Facility, with JPM. Under the Amended JPM Credit Facility entered into on September 30, 2016, the aggregate principal amount available for borrowings was increased from $150,000 to $225,000, of which $25,000 could have been funded as a revolving credit facility, subject to conditions described in the Amended JPM Credit Facility. Under the Amended JPM Credit Facility entered into on July 11, 2017 and November 28, 2017, certain immaterial administrative amendments were made as a result of the termination of AIM as the Company's investment sub-adviser as discussed in Note 1. Under the Amended JPM Credit Facility entered into on May 23, 2018, (i) the aggregate principal amount available for borrowings was increased from $225,000 to $275,000, of which $25,000 could have been funded as a revolving credit facility, subject to conditions described in the Amended JPM Credit Facility, (ii) the reinvestment period was extended until August 24, 2020 and (iii) the maturity date was extended to August 24, 2021.

On May 15, 2020, 34th Street amended and restated the Amended JPM Credit Facility, or the Second Amended JPM Credit Facility, with JPM in order to fully repay all amounts outstanding under the Company's prior Citibank Credit Facility and MS Credit Facility and repay $100,000 of advances outstanding under the UBS Facility (as described below). Under the Second Amended JPM Credit Facility, the aggregate principal amount available for borrowings was increased from $275,000 to $700,000, of which $75,000 may be funded as a revolving credit facility, subject to conditions described in the Second Amended JPM Credit Facility, during the reinvestment period. Under the Second Amended JPM Credit Facility, the reinvestment period was extended until May 15, 2022 and the maturity date was extended to May 15, 2023. Advances under the Second Amended JPM Credit Facility bore interest at a floating rate equal to the three-month LIBOR, plus a spread of 3.25% per year.

On February 26, 2021, 34th Street amended and restated the Second Amended JPM Credit Facility, or the Third Amended JPM Credit Facility, with JPM. Under the Third Amended JPM Credit Facility, the aggregate principal amount available for borrowings was reduced from $700,000 to $575,000, subject to conditions described in the Third Amended JPM Credit Facility. In addition, under the Third Amended JPM Credit Facility, the reinvestment period was extended from May 15, 2022 to May 15, 2023 and the maturity date was extended from May 15, 2023 to May 15, 2024. Advances under the Third Amended JPM Credit Facility bore interest at a floating rate equal to the three-month LIBOR, plus a spread of 3.10% per year. 34th Street incurred certain customary costs and expenses in connection with the Third Amended JPM Credit Facility. No other material terms of the Second Amended JPM Credit Facility were revised in connection with the Third Amended JPM Credit Facility.

On March 28, 2022, 34th Street entered into a First Amendment to the Third Amended JPM Credit Facility with JPM, or the JPM First Amendment. Under the JPM First Amendment, the aggregate principal amount available for borrowings was increased from $575,000 to $675,000, subject to conditions described in the JPM First Amendment. Additional advances of up to $100,000 under the JPM First Amendment bore interest at a floating rate equal to the three-month SOFR, plus a credit spread of 3.10% per year, and a LIBOR to SOFR credit spread adjustment of 0.15%. 34th Street incurred certain customary costs and expenses in connection with the JPM First Amendment. No other material terms of the Third Amended JPM Credit Facility were revised in connection with the JPM First Amendment.

On May 15, 2023, 34th Street entered into a Second Amendment to the Third Amended JPM Credit Facility with JPM, or the JPM Second Amendment. Under the JPM Second Amendment, the aggregate principal amount available for borrowings remained unchanged of up to $675,000 but all such advances bear interest at a floating rate equal to the three-month SOFR, plus a credit spread of 3.05% per year, and a LIBOR to SOFR credit spread adjustment of 0.15%. The reinvestment period was extended from May 15, 2023 to May 15, 2024 and the maturity date was extended from May 15, 2024 to May 15, 2025. Also under the JPM Second Amendment, the amount of minimum borrowings required was reduced by $50,000 to $550,000 with a six-month non-call provision. 34th Street incurred certain customary costs and expenses in connection with the JPM Second Amendment. No other material terms of the Third Amended JPM Credit Facility were revised in connection with the JPM Second Amendment.

Interest is payable quarterly in arrears. 34th Street may prepay advances pursuant to the terms and conditions of the Third Amended JPM Credit Facility and the JPM Second Amendment, subject to a 1.0% premium in certain circumstances. In addition, 34th Street will be subject to a non-usage fee of 1.0% per year on the amount, if any, of the aggregate principal amount available under the Third Amended JPM Credit Facility and the JPM Second Amendment that has not been borrowed through May 14, 2024. The non-usage fees, if any, are payable quarterly in arrears.

As of June 30, 2023 and December 31, 2022, the aggregate principal amount outstanding on the Third Amended JPM Credit Facility and the JPM Second Amendment was $600,000 and $610,000, respectively. The carrying amount outstanding under the Third Amended JPM Credit Facility approximates its fair value.

The Company contributed loans and other corporate debt securities to 34th Street in exchange for 100% of the membership interests of 34th Street, and may contribute additional loans and other corporate debt securities to 34th Street in the future. 34th Street’s obligations to JPM under the Third Amended JPM Credit Facility and the JPM Second Amendment are secured by a first priority security interest in all of the assets of 34th Street. The obligations of 34th Street under the Third Amended JPM Credit Facility and the JPM Second Amendment are non-recourse to the Company, and the Company’s exposure under the Third Amended JPM Credit Facility and the JPM Second Amendment is limited to the value of the Company’s investment in 34th Street.

In connection with the Third Amended JPM Credit Facility and the JPM Second Amendment, 34th Street made certain representations and warranties and is required to comply with a borrowing base requirement, various covenants, reporting requirements and other customary requirements for similar facilities. As of and for the three months ended June 30, 2023, 34th Street was in compliance with all covenants and reporting requirements.

Through June 30, 2023, the Company incurred debt issuance costs of $13,790 in connection with obtaining and amending the JPM Credit Facility, which were recorded as a direct reduction to the outstanding balance of the Third Amended JPM Credit Facility and the JPM Second Amendment, which is included in the Company’s consolidated balance sheet as of June 30, 2023 and will amortize to interest expense over the term of the Third Amended JPM Credit Facility and the JPM Second Amendment. At June 30, 2023, the unamortized portion of the debt issuance costs was $3,726.

For the three and six months ended June 30, 2023 and 2022 and the year ended December 31, 2022, the components of interest expense, average borrowings, and weighted average interest rate for the JPM Second Amendment and the Third Amended JPM Credit Facility were as follows:

	Three Months Ended June 30,						Six Months Ended June 30,						Year Ended December 31,
	2023			2022			2023			2022			2022
Stated interest expense	$	12,385		$	6,056		$	24,375		$	10,763		$	29,254
Amortization of deferred financing costs	532			571			1,096			1,061			2,214
Non-usage fee	189			193			360			263			617
Total interest expense	$	13,106		$	6,820		$	25,831		$	12,087		$	32,085
Weighted average interest rate(1)	8.30		%	4.12		%	8.16		%	3.81		%	4.99		%
Average borrowings	$	600,000		$	598,571		$	603,315		$	575,083		$	590,603

(1)Includes the stated interest expense and non-usage fee on the unused portion of the JPM Second Amendment and the Third Amended JPM Credit Facility and is annualized for periods covering less than one year.

2026 Notes

On February 11, 2021, the Company entered into a Note Purchase Agreement with certain purchasers, or the Note Purchase Agreement, in connection with the Company’s issuance of $125,000 aggregate principal amount of its 4.50% senior unsecured notes due in 2026, or the 2026 Notes. The net proceeds to the Company were approximately $122,300, after the deduction of placement agent fees and other financing expenses, which the Company used to repay debt under its secured financing arrangements.

The 2026 Notes mature on February 11, 2026. The 2026 Notes bear interest at a rate of 4.50% per year payable semi-annually on February 11th and August 11th of each year, which commenced on August 11, 2021. The Company has the right to, at its option, redeem all or a part that is not less than 10% of the 2026 Notes (i) on or before February 11, 2024, at a redemption price equal to 100% of the principal amount of 2026 Notes to be redeemed plus an applicable “make-whole” amount equal to (x) the discounted value of the remaining scheduled payments with respect to the principal of such 2026 Note that is to be prepaid or becomes due and payable pursuant to the Note Purchase Agreement over (y) the amount of such called principal, plus accrued and unpaid interest, if any, (ii) after February 11, 2024 but on or before February 11, 2025, at a redemption price equal to 102% of the principal amount of the 2026 Notes to be redeemed, plus accrued and unpaid interest, if any, (iii) after February 11, 2025 but on or before August 11, 2025, at a redemption price equal to 101% of the principal amount of the 2026 Notes to be redeemed, plus accrued and unpaid interest, if any, and (iv) after August 11, 2025, at a redemption price equal to 100% of the principal amount of the 2026 Notes to be redeemed, plus accrued and unpaid interest, if any. For any redemptions occurring on or before February 11, 2024, the discounted value portion of the “make whole amount” is calculated by applying a discount rate on the same periodic basis as that on which interest on the 2026 Notes is payable equal to the sum of 0.50% plus the yield to maturity of the most recently issued U.S. Treasury securities having a maturity equal to the remaining average life of the 2026 Notes, or if there are no such U.S. Treasury securities, using such implied yield to maturity determined in accordance with the terms of the Note Purchase Agreement.

The 2026 Notes are general unsecured obligations of the Company that rank pari passu with all existing and future unsecured unsubordinated indebtedness issued by the Company, rank effectively junior to any of the Company’s secured indebtedness (including unsecured indebtedness that the Company later secures) to the extent of the value of the assets securing such indebtedness, and rank structurally junior to all existing and future indebtedness (including trade payables) incurred by certain of the Company’s subsidiaries, financing vehicles or similar facilities.

The Note Purchase Agreement contains other terms and conditions, including, without limitation, affirmative and negative covenants such as (i) information reporting, (ii) maintenance of the Company’s status as a BDC, (iii) minimum shareholders’ equity of 60% of the Company’s net asset value as of the year ended December 31, 2020 plus 50% of the net cash proceeds of the sale of certain equity interests by the Company after February 11, 2021, if any, (iv) a minimum asset coverage ratio of not less than 150%, (v) a minimum interest coverage ratio of 1.25 to 1.00 and (vi) an unencumbered asset coverage ratio of 1.25 to 1.00, provided that (a) first lien senior secured loans and cash represent more than 65% of the total value of unencumbered assets used by the Company for purposes of the ratio and (b) equity interests or structured products in the aggregate represent less than 15% of the total value of unencumbered assets used by the Company for purposes of the ratio. As of and for the three months ended June 30, 2023, the Company was in compliance with all covenants and reporting requirements.

The Note Purchase Agreement also contains a “most favored lender” provision in favor of the purchasers in respect of any new unsecured credit facilities, loans or indebtedness in excess of $25,000 incurred by the Company, which indebtedness contains a financial covenant not contained in, or more restrictive against the Company than those contained, in the Note Purchase Agreement. In addition, the Note Purchase Agreement 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 or derivative securities of the Company in an outstanding aggregate principal amount of at least $25,000, certain judgments and orders, and certain events of bankruptcy.

As of June 30, 2023, the aggregate principal amount of 2026 Notes outstanding was $125,000.

Through June 30, 2023, the Company incurred debt issuance costs of $2,669 in connection with issuing the 2026 Notes, which were recorded as a direct reduction to the outstanding balance of the 2026 Notes, which is included in the Company’s consolidated balance sheet as of June 30, 2023 and will amortize to interest expense over the term of the 2026 Notes. At June 30, 2023, the unamortized portion of the debt issuance costs was $1,398.

For the three and six months ended June 30, 2023 and 2022 and for the year ended December 31, 2022, the components of interest expense, average borrowings, and weighted average interest rate for the 2026 Notes were as follows:

	Three Months Ended June 30,						Six Months Ended June 30,						Year Ended December 31, 2022
	2023			2022			2023			2022
Stated interest expense	$	1,406		$	1,422		$	2,812		$	2,828		$	5,600
Amortization of deferred financing costs	133			133			264			264			533
Total interest expense	$	1,539		$	1,555		$	3,076		$	3,092		$	6,133
Weighted average interest rate(1)	4.50		%	4.50		%	4.50		%	4.50		%	4.50		%
Average borrowings	$	125,000		$	125,000		$	125,000		$	125,000		$	125,000

(1)Includes the stated interest expense on the 2026 Notes and is annualized for periods covering less than one year.

UBS Facility

On May 19, 2017, the Company, through two newly-formed, wholly-owned, special-purpose financing subsidiaries, entered into a financing arrangement with UBS pursuant to which up to $125,000 was made available to the Company.

Pursuant to the financing arrangement, assets in the Company's portfolio may be contributed from time to time to Murray Hill Funding II through Murray Hill Funding, LLC, or Murray Hill Funding, each a newly-formed, wholly-owned, special-purpose financing subsidiary of the Company. On May 19, 2017, the Company contributed assets to Murray Hill Funding II. The assets held by Murray Hill Funding II secure the obligations of Murray Hill Funding II under Class A-1 Notes, or the Notes, issued by Murray Hill Funding II. Pursuant to an Indenture, dated May 19, 2017, between Murray Hill Funding II and U.S. Bank National Association, or U.S. Bank, as trustee, or the Indenture, the aggregate principal amount of Notes that may be issued by Murray Hill Funding II from time to time was $192,308. Murray Hill Funding purchased the Notes issued by Murray Hill Funding II at a purchase price equal to their par value. Murray Hill Funding makes capital contributions to Murray Hill Funding II to, among other things, maintain the value of the portfolio of assets held by Murray Hill Funding II.

Principal on the Notes will be due and payable on the stated maturity date of May 19, 2027. Pursuant to the Indenture, Murray Hill Funding II made certain representations and warranties and is required to comply with various covenants, reporting requirements and other customary requirements for similar transactions. The Indenture contains events of default customary for similar transactions, including, without limitation: (a) the failure to make principal payments on the Notes at their stated maturity or any earlier redemption date or to make interest payments on the Notes and such failure is not cured within three business days; (b) the failure to disburse amounts in accordance with the priority of payments and such failure is not cured within three business days; and (c) the occurrence of certain bankruptcy and insolvency events with respect to Murray Hill Funding II or Murray Hill Funding. As of and for the three months ended June 30, 2023, Murray Hill Funding II was in compliance with all covenants and reporting requirements.

Murray Hill Funding, in turn, entered into a repurchase transaction with UBS, pursuant to the terms of a Global Master Repurchase Agreement and the related Annex and Master Confirmation thereto, each dated May 19, 2017, or collectively, the UBS Facility. Pursuant to the UBS Facility, on May 19, 2017 and June 19, 2017, UBS purchased Notes held by Murray Hill Funding for an aggregate purchase price equal to 65% of the principal amount of Notes purchased. Subject to certain conditions, the maximum principal amount of Notes that may be purchased under the UBS Facility was $192,308. Accordingly, the aggregate maximum amount payable to Murray Hill Funding under the UBS Facility would not exceed $125,000. Murray Hill Funding was required to repurchase the Notes sold to UBS under the UBS Facility by no later than May 19, 2020. The repurchase price paid by Murray Hill Funding to UBS will be equal to the purchase price paid by UBS for the repurchased Notes (giving effect to any reductions resulting from voluntary partial prepayment(s)). The financing fee under the UBS Facility was equal to the three-month LIBOR plus a spread of up to 3.50% per year for the relevant period.

On December 1, 2017, Murray Hill Funding II amended and restated the Indenture, or the Amended Indenture, pursuant to which the aggregate principal amount of Notes that may be issued by Murray Hill Funding II was increased from $192,308 to $266,667. On December 1, 2017, Murray Hill Funding entered into a First Amended and Restated Master Confirmation to the Global Master Repurchase Agreement, or the Amended Master Confirmation, which sets forth the terms of the repurchase transaction between Murray Hill Funding and UBS under the UBS Facility. As part of the Amended Master Confirmation, on December 15, 2017 and April 2, 2018, UBS purchased the increased aggregate principal amount of Notes held by Murray Hill Funding for an aggregate purchase price equal to 75% of the principal amount of Notes issued. As a result of the Amended Master Confirmation, the aggregate maximum amount payable to Murray Hill Funding and made available to the Company under the UBS Facility was increased from $125,000 to $200,000. No other material terms of the UBS Facility were revised in connection with the amended UBS Facility, or the Amended UBS Facility.

On May 19, 2020, Murray Hill Funding entered into a Second Amended and Restated Master Confirmation to the Global Master Repurchase Agreement, or the Second Amended Master Confirmation, which extended the date that Murray Hill Funding will be required to repurchase the Notes sold to UBS under the Amended UBS Facility from May 19, 2020 to November 19, 2020, and increased the spread on the financing fee from 3.50% to 3.90% per year.

On May 19, 2020, Murray Hill Funding also repurchased Notes in the aggregate principal amount of $133,333 from UBS for an aggregate repurchase price of $100,000, which was then repaid by Murray Hill Funding II. The repurchase of the Notes on May 19, 2020 resulted in a repayment of one-half of the outstanding amount of borrowings under the Amended UBS Facility as of May 19, 2020. As of December 31, 2020, Notes remained outstanding in the aggregate principal amount of $133,333, which was purchased by Murray Hill Funding from Murray Hill Funding II and subsequently sold to UBS under the Amended UBS Facility for aggregate proceeds of $100,000.

On November 12, 2020, Murray Hill Funding entered into a Third Amended and Restated Master Confirmation to the Global Master Repurchase Agreement, or the Third Amended Master Confirmation, to further extend the date that Murray Hill Funding will be required to repurchase the Notes to December 18, 2020.

On December 17, 2020, Murray Hill Funding entered into a Fourth Amended and Restated Master Confirmation to the Global Master Repurchase Agreement, or the Fourth Amended Master Confirmation, which further extended the date that Murray Hill Funding will be required to repurchase the Notes sold to UBS under the Amended UBS Facility from December 18, 2020 to November 19, 2023, and decreased the spread on the financing fee from 3.90% to 3.375% per year. No other material terms of the Amended UBS Facility were revised in connection with the Fourth Amended Master Confirmation.

On December 17, 2020, Murray Hill Funding also entered into a Revolving Credit Note Agreement, or the Revolving Note Agreement, with Murray Hill Funding II, UBS and U.S. Bank, as note agent and trustee, which provides for a revolving credit facility in an aggregate principal amount of $50,000, subject to compliance with a borrowing base. Murray Hill Funding II will issue Class A-R Notes, or the Class A-R Notes, in exchange for advances under the Revolving Note Agreement. Principal on the Class A-R Notes will be due and payable on the stated maturity date of May 19, 2027, which is the same stated maturity date as the Notes.

The Class A-R Notes will be issued pursuant to a Second Amended and Restated Indenture, dated December 17, 2020, between Murray Hill Funding II and U.S. Bank, as trustee, or the Second Amended Indenture. Under the Second Amended Indenture, the aggregate principal amount of Notes and Class A-R Notes that may be issued by Murray Hill Funding II from time to time is $150,000. Murray Hill Funding, in turn, entered into a repurchase transaction with UBS pursuant to the terms of the related Annex and Master Confirmation, dated December 17, 2020, to the Global Master Repurchase Agreement, dated May 19, 2017, related to the Class A-R Notes. Murray Hill Funding was required to repurchase the Class A-R Notes that will be sold to UBS by no later than November 19, 2023. The financing fee for the funded Class A-R Notes was equal to the three-month LIBOR plus a spread of 3.375% per year while the financing fee for the unfunded Class A-R Notes is equal to 0.75% per year.

On June 14, 2023, Murray Hill Funding entered into with UBS (i) a Fifth Amended and Restated Master Confirmation (Class A-1 Notes) to the Global Master Repurchase Agreement, or the Fifth Amended Master Confirmation, and (ii) an Amended and Restated Master Confirmation (Class A-R Notes) to the Global Master Repurchase Agreement, or the Amended Master Confirmation. Under both Confirmations, the date that Murray Hill Funding will be required to repurchase the Notes and the Class A-R Notes previously sold to UBS under the Amended UBS Facility was extended from November 19, 2023 to November 19, 2024. Also under both Confirmations, the financing fee payable to UBS was revised from a floating rate equal to the three-month LIBOR, plus a spread of 3.375% per year, to a floating rate equal to the three-month SOFR, plus a spread of (a) to (but excluding) November 19, 2023, 3.525% per year, and (b) thereafter, 3.20% per year. The effective date of both Confirmations was June 15, 2023. No other material terms of the Amended UBS Facility were revised in connection with the Fifth Amended Master Confirmation or the Amended Master Confirmation.

On July 1, 2021, December 14, 2021 and April 19, 2022, UBS purchased Class A-R Notes held by Murray Hill Funding for an aggregate purchase price equal to 100% of the principal amount of Class A-R Notes purchased, which was $21,000, $25,000 and $17,500, respectively. On August 20, 2021, March 7, 2023 and April 14, 2023, Murray Hill Funding repurchased Class A-R Notes from UBS in the aggregate principal amount of $21,000, $17,500 and $25,000, respectively, for an aggregate repurchase price of $21,000, $17,500 and $25,000, respectively, which was then repaid by Murray Hill Funding II. The repurchase of the Class A-R Notes on August 20, 2021, March 7, 2023 and April 14, 2023 resulted in repayments of $21,000, $17,500 and $25,000, respectively, of the outstanding amount of borrowings under the Amended UBS Facility.

UBS may require Murray Hill Funding to post cash collateral if, without limitation, the sum of the market value of the portfolio of assets and the cash and eligible investments held by Murray Hill Funding II, together with any posted cash collateral, is less than the required margin amount under the Amended UBS Facility; provided, however, that Murray Hill Funding will not be required to post cash collateral with UBS until such market value has declined at least 10% from the initial market value of the portfolio assets.

The Company has no contractual obligation to post any such cash collateral or to make any payments to UBS on behalf of Murray Hill Funding. The Company may, but is not obligated to, increase its investment in Murray Hill Funding for the purpose of funding any cash collateral or payment obligations for which Murray Hill Funding becomes obligated in connection with the Amended UBS Facility. The Company’s exposure under the Amended UBS Facility is limited to the value of the Company’s investment in Murray Hill Funding.  

Pursuant to the Amended UBS Facility, Murray Hill Funding made certain representations and warranties and is required to comply with a borrowing base requirement, various covenants, reporting requirements and other customary requirements for similar transactions. The Amended UBS Facility contains events of default customary for similar financing transactions, including, without limitation: (a) failure to transfer the Notes to UBS on the applicable purchase date or repurchase the Notes from UBS on the applicable repurchase date; (b) failure to pay certain fees and make-whole amounts when due; (c) failure to post cash collateral as required; (d) the occurrence of insolvency events with respect to Murray Hill Funding; and (e) the admission by Murray Hill Funding of its inability to, or its intention not to, perform any of its obligations under the Amended UBS Facility. As of and for the three months ended June 30, 2023, Murray Hill Funding was in compliance with all covenants and reporting requirements.

Murray Hill Funding paid an upfront fee and incurred certain other customary costs and expenses totaling $2,637 in connection with obtaining the Amended UBS Facility, which were recorded as a direct reduction to the outstanding balance of the Amended UBS Facility, which is included in the Company’s consolidated balance sheets and amortized to interest expense over the term of the Amended UBS Facility. At June 30, 2023, all upfront fees and other expenses were fully amortized.

As of June 30, 2023, Notes in the aggregate principal amount of $100,000 had been purchased by Murray Hill Funding from Murray Hill Funding II and subsequently sold to UBS under the Amended UBS Facility for aggregate proceeds of $100,000. The carrying amount outstanding under the Amended UBS Facility approximates its fair value. The Company funded each purchase of Notes by Murray Hill Funding through a capital contribution to Murray Hill Funding. As of June 30, 2023, the amount due at maturity under the Amended UBS Facility was $100,000. The Notes issued by Murray Hill Funding II and purchased by Murray Hill Funding eliminate in consolidation on the Company’s consolidated financial statements.

As of June 30, 2023, the fair value of assets held by Murray Hill Funding II was $229,265.

For the three and six months ended June 30, 2023 and 2022 and the year ended December 31, 2022, the components of interest expense, average borrowings, and weighted average interest rate for the Amended UBS Facility were as follows:

	Three Months Ended June 30,						Six Months Ended June 30,						Year Ended December 31,
	2023			2022			2023			2022			2022
Stated interest expense	$	2,162		$	1,533		$	4,966		$	2,680		$	7,273
Non-usage fee	89			21			112			68			96
Total interest expense	$	2,251		$	1,554		$	5,078		$	2,748		$	7,369
Weighted average interest rate(1)	8.62		%	4.42		%	8.39		%	4.14		%	5.29		%
Average borrowings	$	103,297		$	139,038		$	120,373		$	132,058		$	137,322

(1)Includes the stated interest expense and non-usage fee on the unused portion of the Amended UBS Facility and is annualized for periods covering less than one year.

Series A Notes

On February 28, 2023, the Company entered into a Deed of Trust, or the Deed of Trust, with Mishmeret Trust Company Ltd., as trustee, under which the Company issued $80,712 in aggregate principal amount of its Series A Unsecured Notes due 2026, or the Series A Notes. The Series A Notes offering in Israel closed on February 28, 2023 and the Series A Notes listed and commenced trading on the TASE on February 28, 2023. After the deduction of fees and other offering expenses, the Company received net proceeds of approximately $77,900, which it used to make investments in portfolio companies in accordance with its investment objectives and for working capital and general corporate purposes. The Series A Notes are rated A1.il by Midroog Ltd., an affiliate of Moody’s. The carrying amount outstanding under the Series A Notes approximates its fair value.

The Series A Notes will mature on August 31, 2026 and may be redeemed in whole or in part at the Company's option at par plus a “make-whole” premium, if applicable, as set forth in the Deed of Trust. The Series A Notes bear interest at a rate equal to SOFR plus a credit spread of 3.82% per year, which will be paid quarterly on February 28, May 31, August 31, and November 30 of each year, which commenced on May 31, 2023. The Series A Notes are general unsecured obligations of the Company that rank senior in right of payment to all of the Company’s existing and future indebtedness that is expressly subordinated in right of payment to the Series A Notes, rank pari passu with all existing and future unsecured unsubordinated indebtedness issued by the Company, rank effectively junior to any of the Company's secured indebtedness (including unsecured indebtedness that the Company later secures) to the extent of the value of the assets securing such indebtedness, and rank structurally junior to all existing and future indebtedness (including trade payables) incurred by the Company's subsidiaries, financing vehicles or similar facilities.

The Deed of Trust contains other terms and conditions, including, without limitation, affirmative and negative covenants such as (i) information reporting, (ii) maintenance of the Company’s status as a BDC within the meaning of the 1940 Act, (iii) minimum shareholders’ equity of $525 million, (iv) a minimum asset coverage ratio of not less than 150%, and (v) an unencumbered asset coverage ratio of 1.25 to 1.00. In addition, the Deed of Trust 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 the Company’s other indebtedness in an outstanding aggregate principal amount of at least $50,000, certain judgments and orders, and certain events of bankruptcy. As of and for the three months ended June 30, 2023, the Company was in compliance with all covenants and reporting requirements.

On February 26, 2023, the Company’s shares of common stock listed and commenced trading on the TASE under the ticker symbol “CION”.

Through June 30, 2023, the Company incurred debt issuance costs of $3,006 in connection with issuing the Series A Notes, which were recorded as a direct reduction to the outstanding balance of the Series A Notes, which is included in the Company’s consolidated balance sheet as of June 30, 2023 and will amortize to interest expense over the term of the Series A Notes. At June 30, 2023, the unamortized portion of the debt issuance costs was $2,714.

For the three months ended June 30, 2023 and the period from February 28, 2023 through June 30, 2023, the components of interest expense, average borrowings, and weighted average interest rate for the Series A Notes were as follows:

	Three Months Ended June 30, 2023			For the Period From February 28, 2023 Through June 30, 2023
Stated interest expense	$	1,781		$	2,399
Amortization of deferred financing costs	212			290
Total interest expense	$	1,993		$	2,689
Weighted average interest rate(1)	8.73		%	8.73		%
Average borrowings	$	80,712		$	80,712

(1) Includes the stated interest expense on the Series A Notes and is annualized for periods covering less than one year.

2022 More Term Loan

On April 27, 2022, the Company entered into an Unsecured Term Loan Facility Agreement, or the More Term Loan Agreement, with More Provident Funds and Pension Ltd., or More Provident, as lender, which provided for an unsecured term loan to the Company in an aggregate principal amount of $50,000, or the 2022 More Term Loan. On April 27, 2022, the Company drew down $50,000 of borrowings under the 2022 More Term Loan. After the deduction of fees and other financing expenses, the Company received net borrowings of approximately $49,000, which it used for working capital and other general corporate purposes. The carrying amount outstanding under the 2022 More Term Loan approximates its fair value.

Advances under the 2022 More Term Loan bear interest at a floating rate equal to the three-month SOFR, plus a credit spread of 3.50% per year and subject to a 1.0% SOFR floor, payable quarterly in arrears. Advances under the 2022 More Term Loan mature on April 27, 2027. The Company has the right to, at its option, prepay all or any portion of advances then outstanding together with a prepayment fee equal to the higher of (i) zero, or (ii) the discounted present value of all remaining interest payments that would have been paid by the Company through the maturity date with respect to the principal amount of such advance that is to be prepaid or becomes due and payable pursuant to the More Term Loan Agreement. The discounted present value portion of the prepayment fee is calculated by applying a discount rate on the same periodic basis as that on which interest on advances is payable equal to the three-month SOFR plus 2.00%.

Advances under the 2022 More Term Loan are general unsecured obligations of the Company that rank pari passu with all existing and future unsecured unsubordinated indebtedness issued by the Company, rank effectively junior to any of the Company’s secured indebtedness (including unsecured indebtedness that the Company later secures) to the extent of the value of the assets securing such indebtedness, and rank structurally junior to all existing and future indebtedness (including trade payables) incurred by certain of the Company’s subsidiaries, financing vehicles or similar facilities.

The More Term Loan Agreement contains other terms and conditions, including, without limitation, affirmative and negative covenants such as (i) information reporting, (ii) maintenance of the Company’s status as a BDC within the meaning of the 1940 Act, (iii) minimum shareholders’ equity of 60% of the Company’s net asset value as of the year ended December 31, 2021 plus 50% of the net cash proceeds of the sale of certain equity interests by the Company after April 27, 2022, if any, (iv) a minimum asset coverage ratio of not less than 150%, and (v) an unencumbered asset coverage ratio of 1.25 to 1.00, provided that (a) first lien senior secured loans and cash represent more than 65% of the total value of unencumbered assets used by the Company for purposes of the ratio and (b) equity interests or structured products in the aggregate represent less than 15% of the total value of unencumbered assets used by the Company for purposes of the ratio. In addition, the More Term Loan Agreement 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 or derivative securities of the Company in an outstanding aggregate principal amount of at least $25,000, certain judgments and orders, and certain events of bankruptcy. As of and for the three months ended June 30, 2023, the Company was in compliance with all covenants and reporting requirements.

Through June 30, 2023, the Company incurred debt issuance costs of $1,025 in connection with obtaining the 2022 More Term Loan, which were recorded as a direct reduction to the outstanding balance of the 2022 More Term Loan, which is included in the Company’s consolidated balance sheet as of June 30, 2023 and will amortize to interest expense over the term of the 2022 More Term Loan. At June 30, 2023, the unamortized portion of the debt issuance costs was $784.

For the three and six months ended June 30, 2023, for the period from April 27, 2022 through June 30, 2022 and for the period from April 27, 2022 through December 31, 2022, the components of interest expense, average borrowings, and weighted average interest rate for the 2022 More Term Loan were as follows:

	Three Months Ended June 30, 2023			Six Months Ended June 30, 2023			For the Period From April 27, 2022 Through June 30, 2022			For the Period From April 27, 2022 Through December 31, 2022
Stated interest expense	$	1,061		$	2,073		$	410		$	2,027
Amortization of deferred financing costs	51			102			36			140
Total interest expense	$	1,112		$	2,175		$	446		$	2,167
Weighted average interest rate(1)	8.40		%	8.25		%	4.54		%	5.86		%
Average borrowings	$	50,000		$	50,000		$	50,000		$	50,000

(1) Includes the stated interest expense on the 2022 More Term Loan and is annualized for periods covering less than one year.

2021 More Term Loan

On April 14, 2021, the Company entered into an Unsecured Term Loan Facility Agreement, or the Term Loan Agreement, with More Provident Funds Ltd., or More, as lender. The Term Loan Agreement with More, or the 2021 More Term Loan, provided for an unsecured term loan to the Company in an aggregate principal amount of $30,000. On April 20, 2021, the Company drew down $30,000 of borrowings under the 2021 More Term Loan. After the deduction of fees and other financing expenses, the Company received net borrowings of approximately $29,000, which the Company used for working capital and other general corporate purposes.

Advances under the 2021 More Term Loan mature on September 30, 2024, and bear interest at a rate of 5.20% per year payable quarterly in arrears. The Company has the right to, at its option, prepay all or any portion of advances then outstanding together with a prepayment fee equal to the higher of (i) zero, or (ii) the discounted present value of all remaining interest payments that would have been paid by the Company through the maturity date with respect to the principal amount of such advance that is to be prepaid or becomes due and payable pursuant to the Term Loan Agreement. The discounted present value portion of the prepayment fee is calculated by applying a discount rate on the same periodic basis as that on which interest on advances is payable equal to the sum of 2.00% plus the yield to maturity of the most recently issued U.S. Treasury securities having a maturity equal to the remaining average life of the 2021 More Term Loan, or if there are no such U.S. Treasury securities, using such implied yield to maturity determined in accordance with the terms of the Term Loan Agreement.

Advances under the 2021 More Term Loan are general unsecured obligations of the Company that rank pari passu with all existing and future unsecured unsubordinated indebtedness issued by the Company, rank effectively junior to the Company's secured indebtedness (including unsecured indebtedness that the Company later secures) to the extent of the value of the assets securing such indebtedness, and rank structurally junior to all existing and future indebtedness (including trade payables) incurred by certain of the Company's subsidiaries, financing vehicles or similar facilities.

The Term Loan Agreement contains other terms and conditions, including, without limitation, affirmative and negative covenants such as (i) information reporting, (ii) maintenance of the Company's status as a BDC within the meaning of the 1940 Act, (iii) minimum shareholders’ equity of 60% of the Company’s net asset value as of the year ended December 31, 2020 plus 50% of the net cash proceeds of the sale of certain equity interests by the Company after April 14, 2021, if any, (iv) a minimum asset coverage ratio of not less than 150%, and (v) an unencumbered asset coverage ratio of 1.25 to 1.00, provided that (a) first lien senior secured loans and cash represent more than 65% of the total value of unencumbered assets used by the Company for purposes of the ratio and (b) equity interests or structured products in the aggregate represent less than 15% of the total value of unencumbered assets used by the Company for purposes of the ratio. In addition, the Term Loan Agreement 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 or derivative securities of the Company in an outstanding aggregate principal amount of at least $25,000, certain judgments and orders, and certain events of bankruptcy. As of and for the three months ended June 30, 2023, the Company was in compliance with all covenants and reporting requirements.

Through June 30, 2023, the Company incurred debt issuance costs of $992 in connection with obtaining the 2021 More Term Loan, which were recorded as a direct reduction to the outstanding balance of the 2021 More Term Loan, which is included in the Company’s consolidated balance sheet as of June 30, 2023 and will amortize to interest expense over the term of the 2021 More Term Loan. At June 30, 2023, the unamortized portion of the debt issuance costs was $354.

For the three and six months ended June 30, 2023 and 2022 and the year ended December 31, 2022, the components of interest expense, average borrowings, and weighted average interest rate for the 2021 More Term Loan were as follows:

	Three Months Ended June 30,						Six Months Ended June 30,						Year Ended December 31, 2022
	2023			2022			2023			2022
Stated interest expense	$	394		$	394		$	784		$	784		$	1,582
Amortization of deferred financing costs	72			72			143			143			288
Total interest expense	$	466		$	466		$	927		$	927		$	1,870
Weighted average interest rate(1)	5.20		%	5.20		%	5.20		%	5.20		%	5.20		%
Average borrowings	$	30,000		$	30,000		$	30,000		$	30,000		$	30,000

(1) Includes the stated interest expense on the 2021 More Term Loan and is annualized for periods covering less than one year.

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Fair Value of Financial Instruments

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

Fair Value of Financial Instruments

The following table presents fair value measurements of the Company’s portfolio investments as of June 30, 2023 and December 31, 2022, according to the fair value hierarchy: 

	June 30, 2023(1)								December 31, 2022(2)
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Senior secured first lien debt	$	—	$	—	$	1,468,630	$	1,468,630	$	—	$	—	$	1,579,512	$	1,579,512
Senior secured second lien debt	—		—		39,544		39,544		—		—		38,769		38,769
Collateralized securities and structured products - equity	—		—		1,046		1,046		—		—		1,179		1,179
Unsecured debt	—		—		17,301		17,301		—		—		22,643		22,643
Equity	2,266		—		133,725		135,991		2,341		—		73,951		76,292
Short term investments	100,771		—		—		100,771		10,869		—		—		10,869
Total Investments	$	103,037	$	—	$	1,660,246	$	1,763,283	$	13,210	$	—	$	1,716,054	$	1,729,264

(1)Excludes the Company's $25,179 investment in CION/EagleTree, which is measured at NAV.

(2)Excludes the Company's $30,766 investment in CION/EagleTree, which is measured at NAV.

The following tables provide a reconciliation of the beginning and ending balances for investments that use Level 3 inputs for the three and six months ended June 30, 2023 and 2022:

	Three Months Ended June 30, 2023
	Senior Secured First Lien Debt		Senior Secured Second Lien Debt		Collateralized Securities and Structured Products - Equity		Unsecured Debt		Equity		Total
Beginning balance, March 31, 2023	$	1,472,453	$	38,997	$	1,133	$	15,517	$	100,958	$	1,629,058
Investments purchased(2)(3)	77,961		—		—		4,200		29,396		111,557
Net realized loss	(13,163)		—		—		—		(5,765)		(18,928)
Net change in unrealized appreciation (depreciation)	16,708		496		9		(2,420)		9,136		23,929
Accretion of discount	2,541		56		—		4		—		2,601
Sales and principal repayments(3)	(87,870)		(5)		(96)		—		—		(87,971)
Ending balance, June 30, 2023	$	1,468,630	$	39,544	$	1,046	$	17,301	$	133,725	$	1,660,246
Change in net unrealized appreciation (depreciation) on investments still held as of June 30, 2023(1)	$	5,280	$	496	$	9	$	(2,420)	$	3,367	$	6,732

(1)Included in net change in unrealized appreciation (depreciation) on investments in the consolidated statements of operations.

(2)Investments purchased includes PIK interest.

(3)Includes non-cash restructured securities.

	Six Months Ended June 30, 2023
	Senior Secured First Lien Debt		Senior Secured Second Lien Debt		Collateralized Securities and Structured Products - Equity		Unsecured Debt		Equity		Total
Beginning balance, December 31, 2022	$	1,579,512	$	38,769	$	1,179	$	22,643	$	73,951	$	1,716,054
Investments purchased(2)(3)	118,713		—		—		4,200		65,329		188,242
Net realized loss	(17,674)		—		—				(5,779)		(23,453)
Net change in unrealized (depreciation) appreciation	(18,686)		659		44		(9,550)		224		(27,309)
Accretion of discount	6,810		125		—		8		—		6,943
Sales and principal repayments(3)	(200,045)		(9)		(177)		—		—		(200,231)
Ending balance, June 30, 2023	$	1,468,630	$	39,544	$	1,046	$	17,301	$	133,725	$	1,660,246
Change in net unrealized (depreciation) appreciation on investments still held as of June 30, 2023(1)	$	(22,169)	$	659	$	44	$	(9,550)	$	(15)	$	(31,031)

(1)Included in net change in unrealized appreciation (depreciation) on investments in the consolidated statements of operations.

(2)Investments purchased includes PIK interest.

(3)Includes non-cash restructured securities.

	Three Months Ended June 30, 2022
	Senior Secured First Lien Debt		Senior Secured Second Lien Debt		Collateralized Securities and Structured Products - Equity		Unsecured Debt		Equity		Total
Beginning balance, March 31, 2022	$	1,597,364	$	36,875	$	2,632	$	27,280	$	42,405	$	1,706,556
Investments purchased(2)	175,707		1,836		—		650		1,008		179,201
Net realized (loss) gain	(34)		10		—		—		204		180
Net change in unrealized (depreciation) appreciation	(21,144)		3,021		(176)		61		(229)		(18,467)
Accretion of discount	2,131		344		—		3		—		2,478
Sales and principal repayments	(93,196)		(15,000)		(854)		—		(503)		(109,553)
Ending balance, June 30, 2022	$	1,660,828	$	27,086	$	1,602	$	27,994	$	42,885	$	1,760,395
Change in net unrealized (depreciation) appreciation on investments still held as of June 30, 2022(1)	$	(21,519)	$	525	$	(176)	$	61	$	(229)	$	(21,338)

(1)Included in net change in unrealized appreciation (depreciation) on investments in the consolidated statements of operations.

(2)Investments purchased includes PIK interest.

	Six Months Ended June 30, 2022
	Senior Secured First Lien Debt		Senior Secured Second Lien Debt		Collateralized Securities and Structured Products - Equity		Unsecured Debt		Equity		Total
Beginning balance, December 31, 2021	$	1,526,989	$	38,583	$	2,998	$	26,616	$	37,736	$	1,632,922
Investments purchased(2)	317,499		1,836		—		1,273		2,133		322,741
Net realized (loss) gain	(107)		14		—		—		204		111
Net change in unrealized (depreciation) appreciation	(34,050)		1,221		(352)		98		3,315		(29,768)
Accretion of discount	4,535		432		—		7		—		4,974
Sales and principal repayments	(154,038)		(15,000)		(1,044)		—		(503)		(170,585)
Ending balance, June 30, 2022	$	1,660,828	$	27,086	$	1,602	$	27,994	$	42,885	$	1,760,395
Change in net unrealized (depreciation) appreciation on investments still held as of June 30, 2022(1)	$	(34,992)	$	873	$	(352)	$	98	$	3,315	$	(31,058)

(1)Included in net change in unrealized appreciation (depreciation) on investments in the consolidated statements of operations.

(2)Investments purchased includes PIK interest.

Significant Unobservable Inputs

The valuation techniques and significant unobservable inputs used in recurring Level 3 fair value measurements of investments as of June 30, 2023 and December 31, 2022 were as follows:

	June 30, 2023
	Fair Value		Valuation Techniques/ Methodologies	Unobservable Inputs	Range			Weighted Average(1)
Senior secured first lien debt	$	1,281,080	Discounted Cash Flow	Discount Rates	7.5%	—	40.0%	13.8%
	110,747		Broker Quotes	Broker Quotes	N/A			N/A
	53,487		Market Comparable Approach	Revenue Multiple	0.17x	—	1.55x	1.00x
	19,036			EBITDA Multiple	4.00x	—	9.75x	6.15x
	3,794			$ per kW	$129.77			N/A
	486		Other(2)	Other(2)	N/A			N/A
Senior secured second lien debt	39,544		Discounted Cash Flow	Discount Rates	13.5%	—	20.5%	16.8%
Collateralized securities and structured products - equity	1,046		Discounted Cash Flow	Discount Rates	21.0%			N/A
Unsecured debt	9,888		Contingent Claims Analysis	Expected Volatility	110.0%			N/A
	7,413		Discounted Cash Flow	Discount Rates	16.5%			N/A
Equity	80,099		Market Comparable Approach	EBITDA Multiple	4.75x	—	14.75x	9.74x
	21,680			$ per kW	$400			N/A
	31,204			Revenue Multiple	0.13x	—	6.00x	1.05x
	742		Broker Quotes	Broker Quotes	N/A			N/A
Total	$	1,660,246

(1)Weighted average amounts are based on the estimated fair values.

(2)Fair value is based on the expected outcome of proposed corporate transactions and/or other factors.

	December 31, 2022
	Fair Value		Valuation Techniques/ Methodologies	Unobservable Inputs	Range			Weighted Average(1)
Senior secured first lien debt	$	1,471,816	Discounted Cash Flow	Discount Rates	6.5%	—	34.0%	14.7%
	79,035		Broker Quotes	Broker Quotes	N/A			N/A
	20,050		Market Comparable Approach	Revenue Multiple	0.25x	—	1.70x	1.19x
	4,527			$ per kW	$131.85			N/A
	3,552			EBITDA Multiple	2.75x	—	4.25x	4.09x
	532		Other(2)	Other(2)	N/A			N/A
Senior secured second lien debt	38,769		Discounted Cash Flow	Discount Rates	14.3%	—	21.5%	17.2%
Collateralized securities and structured products - equity	1,179		Discounted Cash Flow	Discount Rates	21.0%			N/A
Unsecured debt	15,316		Market Comparable Approach	EBITDA Multiple	9.25x			N/A
	7,327		Discounted Cash Flow	Discount Rates	17.7%			N/A
Equity	33,441		Market Comparable Approach	EBITDA Multiple	2.75x	—	14.55x	7.02x
	23,995			$ per kW	$412.5			N/A
	13,038			Revenue Multiple	0.13x	—	5.75x	2.93x
	2,238		Discounted Cash Flow	Discount Rates	16.8%			N/A
	1,234		Broker Quotes	Broker Quotes	N/A			N/A
	5		Options Pricing Model	Expected Volatility	80.0%	—	90.0%	87.3%
Total	$	1,716,054

(1)Weighted average amounts are based on the estimated fair values.

(2)Fair value is based on the expected outcome of proposed corporate transactions and/or other factors.

The significant unobservable inputs used in the fair value measurement of the Company’s senior secured first lien debt, senior secured second lien debt, collateralized securities and structured products, unsecured debt and equity are discount rates, EBITDA multiples, revenue multiples, broker quotes and expected volatility. A significant increase or decrease in discount rates would result in a significantly lower or higher fair value measurement, respectively. A significant increase or decrease in the EBITDA multiples, revenue multiples, expected proceeds from proposed corporate transactions, broker quotes and expected volatility would result in a significantly higher or lower fair value measurement, respectively.

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General and Administrative Expense

6 Months Ended

Jun. 30, 2023

General and Administrative Expense [Abstract]

General and Administrative Expense

General and Administrative Expense

General and administrative expense consisted of the following items for the three and six months ended June 30, 2023 and 2022 and the year ended December 31, 2022:

	Three Months Ended June 30,				Six Months Ended June 30,				Year Ended December 31,
	2023		2022		2023		2022		2022
Professional fees	$	645	$	519	$	1,171	$	1,152	$	1,778
Transfer agent expense	279		303		547		594		1,124
Dues and subscriptions	44		80		473		615		791
Valuation expense	252		212		425		391		821
Director fees and expenses	179		161		348		315		632
Insurance expense	169		254		336		505		833
Accounting and administrative costs	158		145		324		302		524
Printing and marketing expense	269		28		274		33		708
Other expenses	79		10		131		27		67
Total general and administrative expense	$	2,074	$	1,712	$	4,029	$	3,934	$	7,278

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Commitments and Contingencies

6 Months Ended

Jun. 30, 2023

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Commitments and Contingencies

The Company entered into certain contracts with related and other parties that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not experienced claims or losses pursuant to these contracts and believes the risk of loss related to such indemnifications to be remote.

As of June 30, 2023 and December 31, 2022, the Company’s unfunded commitments were as follows:

Unfunded Commitments	June 30, 2023(1)		December 31, 2022(1)
Cennox, Inc.	$	7,193	$	7,567
Flatworld Intermediate Corp.	5,865		5,865
Critical Nurse Staffing, LLC	5,439		5,599
Thrill Holdings LLC	5,000		3,261
Instant Web, LLC	3,574		5,628
American Health Staffing Group, Inc.	3,333		3,333
Mimeo.com, Inc.	2,500		3,000
Rogers Mechanical Contractors, LLC	2,404		3,365
Moss Holding Company	2,232		2,232
HW Acquisition, LLC	2,200		2,200
MacNeill Pride Group Corp.	2,017		2,017
Archer Systems, LLC	1,905		1,905
Bradshaw International Parent Corp.	1,844		1,844
Dermcare Management, LLC	1,683		1,862
Coyote Buyer, LLC	1,500		2,500
Sleep Opco, LLC	1,200		1,750
NWN Parent Holdings LLC	1,200		90
RA Outdoors, LLC	1,049		1,049
BDS Solutions Intermediateco, LLC	1,046		1,998
OpCo Borrower, LLC	1,042		833
Service Compression, LLC	907		4,186
Invincible Boat Company LLC	319		559
Ironhorse Purchaser, LLC	299		2,469
American Teleconferencing Services, Ltd.	235		235
H.W. Lochner, Inc.	225		225
Anthem Sports & Entertainment Inc.	167		167
Homer City Holdings LLC	—		3,000
RumbleOn, Inc.	—		1,775
WorkGenius, Inc.	—		750
STATinMED, LLC	—		156
Total	$	56,378	$	71,420

(1)Unless otherwise noted, the funding criteria for these unfunded commitments had not been met at the date indicated.

Unfunded commitments to provide funds to companies are not recorded on the Company’s consolidated balance sheets. Since these commitments may expire without being drawn upon, unfunded commitments do not necessarily represent future cash requirements or future earning assets for the Company. The Company intends to use cash on hand, short-term investments, proceeds from borrowings, and other liquid assets to fund these commitments should the need arise. For information on the companies to which the Company is committed to fund additional amounts as of June 30, 2023 and December 31, 2022, refer to the table above and the consolidated schedules of investments. As of August 2, 2023, the Company was committed, upon the satisfaction of certain conditions, to fund an additional $54,475.

The Company will fund its unfunded commitments from the same sources it uses to fund its investment commitments that are funded at the time they are made (i.e., advances from its financing arrangements and/or cash flows from operations). The Company will not fund its unfunded commitments from future net proceeds generated by securities offerings, if any. The Company follows a process to manage its liquidity and ensure that it has available capital to fund its unfunded commitments. Specifically, the Company prepares detailed analyses of the level of its unfunded commitments relative to its then available liquidity on a daily basis.  These analyses are reviewed and discussed on a weekly basis by the Company's executive officers and senior members of CIM (including members of the investment committee) and are updated on a “real time” basis in order to ensure that the Company has adequate liquidity to satisfy its unfunded commitments.

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Fee Income

6 Months Ended

Jun. 30, 2023

Fee Income [Abstract]

Fee Income

Fee Income

Fee income consists of amendment fees, capital structuring and other fees, conversion fees, commitment fees and administrative agent fees. The following table summarizes the Company’s fee income for the three and six months ended June 30, 2023 and 2022 and the year ended December 31, 2022:

	Three Months Ended June 30,				Six Months Ended June 30,				Year Ended December 31,
	2023		2022		2023		2022		2022
Amendment fees	$	622	$	575	$	3,346	$	970	$	2,633
Capital structuring and other fees	532		1,992		532		3,014		4,446
Conversion fees	477		—		477		—		2,365
Commitment fees	—		—		309		—		—
Administrative agent fees	—		—		30		25		100
Total	$	1,631	$	2,567	$	4,694	$	4,009	$	9,544

Administrative agent fees are recurring income as long as the Company remains the administrative agent for the related investment. Income from all other fees was non-recurring.

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Financial Highlights

6 Months Ended

Jun. 30, 2023

Investment Company [Abstract]

Financial Highlights

Financial Highlights

The following is a schedule of financial highlights as of and for the six months ended June 30, 2023 and 2022 and the year ended December 31, 2022:

	Six Months Ended June 30,						Year Ended December 31,
	2023			2022			2022
Per share data:(1)
Net asset value at beginning of period	$	15.98		$	16.34		$	16.34
Results of operations:
Net investment income	0.97			0.68			1.56
Net realized loss and net change in unrealized depreciation on investments and loss on foreign currency(2)	(1.02)			(0.57)			(0.68)
Net (decrease) increase in net assets resulting from operations(2)	(0.05)			0.11			0.88
Shareholder distributions:
Distributions from net investment income	(0.68)			(0.56)			(1.44)
Net decrease in net assets resulting from shareholders' distributions	(0.68)			(0.56)			(1.44)
Capital share transactions:
Repurchases of common stock below net asset value(3)	0.06			—			0.20
Net increase in net assets resulting from capital share transactions	0.06			—			0.20
Net asset value at end of period	$	15.31		$	15.89		$	15.98
Shares of common stock outstanding at end of period	54,632,827			56,958,440			55,299,484
Total investment return-net asset value(4)	2.29		%	1.87		%	10.44		%
Total investment return-market value(5)	13.66		%	(30.29)		%	(14.87)		%
Net assets at beginning of period	$	883,634		$	930,512		$	930,512
Net assets at end of period	$	836,364		$	905,238		$	883,634
Average net assets	$	858,277		$	926,144		$	917,781
Ratio/Supplemental data:
Ratio of net investment income to average net assets	6.21		%	4.19		%	9.61		%
Ratio of net operating expenses to average net assets	8.18		%	5.02		%	11.63		%
Portfolio turnover rate(6)	5.48		%	9.96		%	26.81		%
Total amount of senior securities outstanding	$	985,712		$	947,500		$	957,500
Asset coverage ratio(7)	1.85			1.96			1.92

(1)The per share data for the six months ended June 30, 2023 and 2022 and the year ended December 31, 2022 was derived by using the weighted average shares of common stock outstanding during each period.

(2)The amount shown for net realized loss, net change in unrealized depreciation on investments and loss on foreign currency is the balancing figure derived from the other figures in the schedule. The amount shown at this caption for a share outstanding throughout the period may not agree with the change in the aggregate gains and losses in portfolio securities for the period because of the timing of sales and repurchases of the Company’s shares in relation to fluctuating market values for the portfolio. As a result, net (decrease) increase in net assets resulting from operations in this schedule may vary from the consolidated statements of operations.

(3)Repurchases of common stock may have caused an incremental decrease or increase in net asset value per share due to the repurchase of shares at a price in excess of or below net asset value per share, respectively, on each repurchase date. The per share impact of repurchases of common stock was a decrease to net asset value of less than $0.01 per share during the six months ended June 30, 2023 and 2022 and the year ended December 31, 2022.

(4)Total investment return-net asset value is a measure of the change in total value for shareholders who held the Company’s common stock at the beginning and end of the period, including distributions paid or payable during the period. Total investment return-net asset value is based on (i) the beginning period net asset value per share on the first day of the period, (ii) the net asset value per share on the last day of the period of (A) one share plus (B) any fractional shares issued in connection with the reinvestment of distributions, and (iii) the value of distributions payable, if any, on the last day of the period. The total investment return-net asset value calculation assumes that distributions are reinvested in accordance with the Company's distribution reinvestment plan then in effect as described in Note 5. The total investment return-net asset value does not consider the effect of the sales load from the sale of the Company’s common stock. The total investment return-net asset value includes the effect of the issuance of shares at a net offering price that is greater than net asset value per share, which causes an increase in net asset value per share. Total returns covering less than a full year are not annualized.

(5)Total investment return-market value for the six months ended June 30, 2023 and 2022 and the year ended December 31, 2022 was calculated by taking the change in the market price of the Company's common stock since the first day of the period, and including the impact of distributions reinvested in accordance with the Company’s New DRP. Total investment return-market value does not consider the effect of any sales commissions or charges that may be incurred in connection with the sale of shares of the Company’s common stock. The historical calculation of total investment return-market value in the table should not be considered a representation of the Company’s future total return based on market value, which may be greater or less than the return shown in the table due to a number of factors, including the Company’s ability or inability to make investments in companies that meet its investment criteria, the interest rates payable on the debt securities the Company acquires, the level of the Company’s expenses, variations in and the timing of the recognition of realized and unrealized gains or losses, the degree to which the Company encounters competition in its markets, general economic conditions and fluctuations in per share market value. As a result of these factors, results for any previous period should not be relied upon as being indicative of performance in future periods.

(6)Portfolio turnover rate is calculated using the lesser of year-to-date sales or purchases over the average of the invested assets at fair value, excluding short term investments, and is not annualized.

(7)Asset coverage ratio is equal to (i) the sum of (a) net assets at the end of the period and (b) total senior securities outstanding at the end of the period (excluding unfunded commitments), divided by (ii) total senior securities outstanding at the end of the period.

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Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Pay vs Performance Disclosure
Net increase (decrease) in net assets resulting from operations	$ 27,894	$ (1,266)	$ (3,151)	$ 6,623	$ 50,141

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Insider Trading Arrangements	3 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

XML

N-2 - $ / shares

6 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Jun. 30, 2022

Dec. 31, 2021

Cover [Abstract]

Entity Central Index Key

0001534254

Amendment Flag

false

Securities Act File Number

000-54755

Document Type

10-Q

Entity Registrant Name

CĪON Investment Corporation

Entity Address, Address Line One

100 Park Avenue

Entity Address, Address Line Two

25th Floor

Entity Address, City or Town

New York

Entity Address, State or Province

NY

Entity Address, Postal Zip Code

10017

City Area Code

(212)

Local Phone Number

418-4700

Entity Emerging Growth Company

false

General Description of Registrant [Abstract]

Investment Objectives and Practices [Text Block]

Our investment objective is to generate current income and, to a lesser extent, capital appreciation for investors. Our portfolio is comprised primarily of investments in senior secured debt, including first lien loans, second lien loans and unitranche loans, and, to a lesser extent, collateralized securities, structured products and other similar securities, unsecured debt, and equity, of private and thinly-traded U.S. middle-market companies. In connection with our debt investments, we may receive equity interests such as warrants or options as additional consideration. We may also purchase equity interests in the form of common or preferred stock in our target companies, either in conjunction with one of our debt investments or through a co-investment with a financial sponsor.

Risk Factors [Table Text Block]

Risk Factors

In addition to other information set forth in this Quarterly Report on Form 10-Q, you should carefully consider the factors set forth in “Item 1A. Risk Factors” in our Annual Report on Form 10‑K for the year ended December 31, 2022, which could materially affect our business, financial condition and/or operating results. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially affect our business, financial condition and/or operating results. There have been no material changes during the three months ended June 30, 2023 to the risk factors set forth in “Item 1A. Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2022, except as set forth below.

We and our portfolio companies may maintain cash balances at financial institutions that exceed federally insured limits and may otherwise be materially affected by adverse developments affecting the financial services industry, such as actual events or concerns involving liquidity, defaults or non-performance by financial institutions or transactional counterparties.

Our cash is held principally at one financial institution that we believe is of high quality and at times may exceed insured limits. Cash held by us and by our portfolio companies in non-interest-bearing and interest-bearing operating accounts may exceed the FDIC insurance limits. If such banking institutions were to fail, we or our portfolio companies could lose all or a portion of those amounts held in excess of such insurance limitations. In addition, actual events involving limited liquidity, defaults, non-performance or other adverse developments that affect financial institutions, transactional counterparties or other companies in the financial services industry or the financial services industry generally, or concerns or rumors about any events of these kinds or other similar risks, have in the past and may in the future lead to market-wide liquidity problems, which could adversely affect our and our portfolio companies’ business, financial condition, results of operations, or prospects.

Although we assess our banking relationships as we believe necessary or appropriate, our access to funding sources and other credit arrangements in amounts adequate to finance or capitalize our current and projected future business operations could be significantly impaired by factors that affect us, the financial institutions with which we have arrangements directly, or the financial services industry or economy in general. These factors could include, among others, events such as liquidity constraints or failures, the ability to perform obligations under various types of financial, credit or liquidity agreements or arrangements, disruptions or instability in the financial services industry or financial markets or concerns or negative expectations about the prospects for companies in the financial services industry. These factors could involve financial institutions or financial services industry companies with which we have financial or business relationships but could also include factors involving financial markets or the financial services industry generally.

In addition, investor concerns regarding the U.S. or international financial systems could result in less favorable commercial financing terms, including higher interest rates or costs and tighter financial and operating covenants, or systemic limitations on access to credit and liquidity sources, thereby making it more difficult for us to acquire financing on acceptable terms or at all.

NAV Per Share

$ 15.31

$ 15.98

$ 15.89

$ 16.34

Capital Stock, Long-Term Debt, and Other Securities [Abstract]

Long Term Debt [Table Text Block]

Financing Arrangements

The following table presents summary information with respect to the Company’s outstanding financing arrangements as of June 30, 2023: 

Financing Arrangement	Type of Financing Arrangement	Rate	Amount Outstanding		Amount Available		Maturity Date
JPM Credit Facility	Term Loan Credit Facility	SOFR+3.20%	$	600,000	$	75,000	May 15, 2025
2026 Notes(1)	Note Purchase Agreement	4.50%	125,000		—		February 11, 2026
UBS Facility	Repurchase Agreement	SOFR+3.525%	100,000		50,000		November 19, 2024
Series A Notes	Israel Public Bond Offering	SOFR+3.82%	80,712		—		August 31, 2026
2022 More Term Loan	Term Loan Facility Agreement	SOFR+3.50%	50,000		—		April 27, 2027
2021 More Term Loan(2)	Term Loan Facility Agreement	5.20%	30,000		—		September 30, 2024
			$	985,712	$	125,000

(1)As of June 30, 2023, the fair value of the 2026 Notes was $122,500, which was based on a yield analysis and discount rate commensurate with the market yields for similar types of debt. The fair value of these debt obligations would be categorized as Level 3 under ASC 820 as of June 30, 2023.

(2)As of June 30, 2023, the fair value of the 2021 More Term Loan was $29,513, which was based on a yield analysis and discount rate commensurate with the market yields for similar types of debt. The fair value of these debt obligations would be categorized as Level 3 under ASC 820 as of June 30, 2023.

JPM Credit Facility

On August 26, 2016, 34th Street entered into a senior secured credit facility with JPM. The senior secured credit facility with JPM, or the JPM Credit Facility, provided for borrowings in an aggregate principal amount of $150,000, of which $25,000 could have been funded as a revolving credit facility, each subject to conditions described in the JPM Credit Facility. On August 26, 2016, 34th Street drew down $57,000 of borrowings under the JPM Credit Facility.

On September 30, 2016, July 11, 2017, November 28, 2017 and May 23, 2018, 34th Street amended and restated the JPM Credit Facility, or the Amended JPM Credit Facility, with JPM. Under the Amended JPM Credit Facility entered into on September 30, 2016, the aggregate principal amount available for borrowings was increased from $150,000 to $225,000, of which $25,000 could have been funded as a revolving credit facility, subject to conditions described in the Amended JPM Credit Facility. Under the Amended JPM Credit Facility entered into on July 11, 2017 and November 28, 2017, certain immaterial administrative amendments were made as a result of the termination of AIM as the Company's investment sub-adviser as discussed in Note 1. Under the Amended JPM Credit Facility entered into on May 23, 2018, (i) the aggregate principal amount available for borrowings was increased from $225,000 to $275,000, of which $25,000 could have been funded as a revolving credit facility, subject to conditions described in the Amended JPM Credit Facility, (ii) the reinvestment period was extended until August 24, 2020 and (iii) the maturity date was extended to August 24, 2021.

On May 15, 2020, 34th Street amended and restated the Amended JPM Credit Facility, or the Second Amended JPM Credit Facility, with JPM in order to fully repay all amounts outstanding under the Company's prior Citibank Credit Facility and MS Credit Facility and repay $100,000 of advances outstanding under the UBS Facility (as described below). Under the Second Amended JPM Credit Facility, the aggregate principal amount available for borrowings was increased from $275,000 to $700,000, of which $75,000 may be funded as a revolving credit facility, subject to conditions described in the Second Amended JPM Credit Facility, during the reinvestment period. Under the Second Amended JPM Credit Facility, the reinvestment period was extended until May 15, 2022 and the maturity date was extended to May 15, 2023. Advances under the Second Amended JPM Credit Facility bore interest at a floating rate equal to the three-month LIBOR, plus a spread of 3.25% per year.

On February 26, 2021, 34th Street amended and restated the Second Amended JPM Credit Facility, or the Third Amended JPM Credit Facility, with JPM. Under the Third Amended JPM Credit Facility, the aggregate principal amount available for borrowings was reduced from $700,000 to $575,000, subject to conditions described in the Third Amended JPM Credit Facility. In addition, under the Third Amended JPM Credit Facility, the reinvestment period was extended from May 15, 2022 to May 15, 2023 and the maturity date was extended from May 15, 2023 to May 15, 2024. Advances under the Third Amended JPM Credit Facility bore interest at a floating rate equal to the three-month LIBOR, plus a spread of 3.10% per year. 34th Street incurred certain customary costs and expenses in connection with the Third Amended JPM Credit Facility. No other material terms of the Second Amended JPM Credit Facility were revised in connection with the Third Amended JPM Credit Facility.

On March 28, 2022, 34th Street entered into a First Amendment to the Third Amended JPM Credit Facility with JPM, or the JPM First Amendment. Under the JPM First Amendment, the aggregate principal amount available for borrowings was increased from $575,000 to $675,000, subject to conditions described in the JPM First Amendment. Additional advances of up to $100,000 under the JPM First Amendment bore interest at a floating rate equal to the three-month SOFR, plus a credit spread of 3.10% per year, and a LIBOR to SOFR credit spread adjustment of 0.15%. 34th Street incurred certain customary costs and expenses in connection with the JPM First Amendment. No other material terms of the Third Amended JPM Credit Facility were revised in connection with the JPM First Amendment.

On May 15, 2023, 34th Street entered into a Second Amendment to the Third Amended JPM Credit Facility with JPM, or the JPM Second Amendment. Under the JPM Second Amendment, the aggregate principal amount available for borrowings remained unchanged of up to $675,000 but all such advances bear interest at a floating rate equal to the three-month SOFR, plus a credit spread of 3.05% per year, and a LIBOR to SOFR credit spread adjustment of 0.15%. The reinvestment period was extended from May 15, 2023 to May 15, 2024 and the maturity date was extended from May 15, 2024 to May 15, 2025. Also under the JPM Second Amendment, the amount of minimum borrowings required was reduced by $50,000 to $550,000 with a six-month non-call provision. 34th Street incurred certain customary costs and expenses in connection with the JPM Second Amendment. No other material terms of the Third Amended JPM Credit Facility were revised in connection with the JPM Second Amendment.

Interest is payable quarterly in arrears. 34th Street may prepay advances pursuant to the terms and conditions of the Third Amended JPM Credit Facility and the JPM Second Amendment, subject to a 1.0% premium in certain circumstances. In addition, 34th Street will be subject to a non-usage fee of 1.0% per year on the amount, if any, of the aggregate principal amount available under the Third Amended JPM Credit Facility and the JPM Second Amendment that has not been borrowed through May 14, 2024. The non-usage fees, if any, are payable quarterly in arrears.

As of June 30, 2023 and December 31, 2022, the aggregate principal amount outstanding on the Third Amended JPM Credit Facility and the JPM Second Amendment was $600,000 and $610,000, respectively. The carrying amount outstanding under the Third Amended JPM Credit Facility approximates its fair value.

The Company contributed loans and other corporate debt securities to 34th Street in exchange for 100% of the membership interests of 34th Street, and may contribute additional loans and other corporate debt securities to 34th Street in the future. 34th Street’s obligations to JPM under the Third Amended JPM Credit Facility and the JPM Second Amendment are secured by a first priority security interest in all of the assets of 34th Street. The obligations of 34th Street under the Third Amended JPM Credit Facility and the JPM Second Amendment are non-recourse to the Company, and the Company’s exposure under the Third Amended JPM Credit Facility and the JPM Second Amendment is limited to the value of the Company’s investment in 34th Street.

In connection with the Third Amended JPM Credit Facility and the JPM Second Amendment, 34th Street made certain representations and warranties and is required to comply with a borrowing base requirement, various covenants, reporting requirements and other customary requirements for similar facilities. As of and for the three months ended June 30, 2023, 34th Street was in compliance with all covenants and reporting requirements.

Through June 30, 2023, the Company incurred debt issuance costs of $13,790 in connection with obtaining and amending the JPM Credit Facility, which were recorded as a direct reduction to the outstanding balance of the Third Amended JPM Credit Facility and the JPM Second Amendment, which is included in the Company’s consolidated balance sheet as of June 30, 2023 and will amortize to interest expense over the term of the Third Amended JPM Credit Facility and the JPM Second Amendment. At June 30, 2023, the unamortized portion of the debt issuance costs was $3,726.

For the three and six months ended June 30, 2023 and 2022 and the year ended December 31, 2022, the components of interest expense, average borrowings, and weighted average interest rate for the JPM Second Amendment and the Third Amended JPM Credit Facility were as follows:

	Three Months Ended June 30,						Six Months Ended June 30,						Year Ended December 31,
	2023			2022			2023			2022			2022
Stated interest expense	$	12,385		$	6,056		$	24,375		$	10,763		$	29,254
Amortization of deferred financing costs	532			571			1,096			1,061			2,214
Non-usage fee	189			193			360			263			617
Total interest expense	$	13,106		$	6,820		$	25,831		$	12,087		$	32,085
Weighted average interest rate(1)	8.30		%	4.12		%	8.16		%	3.81		%	4.99		%
Average borrowings	$	600,000		$	598,571		$	603,315		$	575,083		$	590,603

(1)Includes the stated interest expense and non-usage fee on the unused portion of the JPM Second Amendment and the Third Amended JPM Credit Facility and is annualized for periods covering less than one year.

2026 Notes

On February 11, 2021, the Company entered into a Note Purchase Agreement with certain purchasers, or the Note Purchase Agreement, in connection with the Company’s issuance of $125,000 aggregate principal amount of its 4.50% senior unsecured notes due in 2026, or the 2026 Notes. The net proceeds to the Company were approximately $122,300, after the deduction of placement agent fees and other financing expenses, which the Company used to repay debt under its secured financing arrangements.

The 2026 Notes mature on February 11, 2026. The 2026 Notes bear interest at a rate of 4.50% per year payable semi-annually on February 11th and August 11th of each year, which commenced on August 11, 2021. The Company has the right to, at its option, redeem all or a part that is not less than 10% of the 2026 Notes (i) on or before February 11, 2024, at a redemption price equal to 100% of the principal amount of 2026 Notes to be redeemed plus an applicable “make-whole” amount equal to (x) the discounted value of the remaining scheduled payments with respect to the principal of such 2026 Note that is to be prepaid or becomes due and payable pursuant to the Note Purchase Agreement over (y) the amount of such called principal, plus accrued and unpaid interest, if any, (ii) after February 11, 2024 but on or before February 11, 2025, at a redemption price equal to 102% of the principal amount of the 2026 Notes to be redeemed, plus accrued and unpaid interest, if any, (iii) after February 11, 2025 but on or before August 11, 2025, at a redemption price equal to 101% of the principal amount of the 2026 Notes to be redeemed, plus accrued and unpaid interest, if any, and (iv) after August 11, 2025, at a redemption price equal to 100% of the principal amount of the 2026 Notes to be redeemed, plus accrued and unpaid interest, if any. For any redemptions occurring on or before February 11, 2024, the discounted value portion of the “make whole amount” is calculated by applying a discount rate on the same periodic basis as that on which interest on the 2026 Notes is payable equal to the sum of 0.50% plus the yield to maturity of the most recently issued U.S. Treasury securities having a maturity equal to the remaining average life of the 2026 Notes, or if there are no such U.S. Treasury securities, using such implied yield to maturity determined in accordance with the terms of the Note Purchase Agreement.

The 2026 Notes are general unsecured obligations of the Company that rank pari passu with all existing and future unsecured unsubordinated indebtedness issued by the Company, rank effectively junior to any of the Company’s secured indebtedness (including unsecured indebtedness that the Company later secures) to the extent of the value of the assets securing such indebtedness, and rank structurally junior to all existing and future indebtedness (including trade payables) incurred by certain of the Company’s subsidiaries, financing vehicles or similar facilities.

The Note Purchase Agreement contains other terms and conditions, including, without limitation, affirmative and negative covenants such as (i) information reporting, (ii) maintenance of the Company’s status as a BDC, (iii) minimum shareholders’ equity of 60% of the Company’s net asset value as of the year ended December 31, 2020 plus 50% of the net cash proceeds of the sale of certain equity interests by the Company after February 11, 2021, if any, (iv) a minimum asset coverage ratio of not less than 150%, (v) a minimum interest coverage ratio of 1.25 to 1.00 and (vi) an unencumbered asset coverage ratio of 1.25 to 1.00, provided that (a) first lien senior secured loans and cash represent more than 65% of the total value of unencumbered assets used by the Company for purposes of the ratio and (b) equity interests or structured products in the aggregate represent less than 15% of the total value of unencumbered assets used by the Company for purposes of the ratio. As of and for the three months ended June 30, 2023, the Company was in compliance with all covenants and reporting requirements.

The Note Purchase Agreement also contains a “most favored lender” provision in favor of the purchasers in respect of any new unsecured credit facilities, loans or indebtedness in excess of $25,000 incurred by the Company, which indebtedness contains a financial covenant not contained in, or more restrictive against the Company than those contained, in the Note Purchase Agreement. In addition, the Note Purchase Agreement 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 or derivative securities of the Company in an outstanding aggregate principal amount of at least $25,000, certain judgments and orders, and certain events of bankruptcy.

As of June 30, 2023, the aggregate principal amount of 2026 Notes outstanding was $125,000.

Through June 30, 2023, the Company incurred debt issuance costs of $2,669 in connection with issuing the 2026 Notes, which were recorded as a direct reduction to the outstanding balance of the 2026 Notes, which is included in the Company’s consolidated balance sheet as of June 30, 2023 and will amortize to interest expense over the term of the 2026 Notes. At June 30, 2023, the unamortized portion of the debt issuance costs was $1,398.

For the three and six months ended June 30, 2023 and 2022 and for the year ended December 31, 2022, the components of interest expense, average borrowings, and weighted average interest rate for the 2026 Notes were as follows:

	Three Months Ended June 30,						Six Months Ended June 30,						Year Ended December 31, 2022
	2023			2022			2023			2022
Stated interest expense	$	1,406		$	1,422		$	2,812		$	2,828		$	5,600
Amortization of deferred financing costs	133			133			264			264			533
Total interest expense	$	1,539		$	1,555		$	3,076		$	3,092		$	6,133
Weighted average interest rate(1)	4.50		%	4.50		%	4.50		%	4.50		%	4.50		%
Average borrowings	$	125,000		$	125,000		$	125,000		$	125,000		$	125,000

(1)Includes the stated interest expense on the 2026 Notes and is annualized for periods covering less than one year.

UBS Facility

On May 19, 2017, the Company, through two newly-formed, wholly-owned, special-purpose financing subsidiaries, entered into a financing arrangement with UBS pursuant to which up to $125,000 was made available to the Company.

Pursuant to the financing arrangement, assets in the Company's portfolio may be contributed from time to time to Murray Hill Funding II through Murray Hill Funding, LLC, or Murray Hill Funding, each a newly-formed, wholly-owned, special-purpose financing subsidiary of the Company. On May 19, 2017, the Company contributed assets to Murray Hill Funding II. The assets held by Murray Hill Funding II secure the obligations of Murray Hill Funding II under Class A-1 Notes, or the Notes, issued by Murray Hill Funding II. Pursuant to an Indenture, dated May 19, 2017, between Murray Hill Funding II and U.S. Bank National Association, or U.S. Bank, as trustee, or the Indenture, the aggregate principal amount of Notes that may be issued by Murray Hill Funding II from time to time was $192,308. Murray Hill Funding purchased the Notes issued by Murray Hill Funding II at a purchase price equal to their par value. Murray Hill Funding makes capital contributions to Murray Hill Funding II to, among other things, maintain the value of the portfolio of assets held by Murray Hill Funding II.

Principal on the Notes will be due and payable on the stated maturity date of May 19, 2027. Pursuant to the Indenture, Murray Hill Funding II made certain representations and warranties and is required to comply with various covenants, reporting requirements and other customary requirements for similar transactions. The Indenture contains events of default customary for similar transactions, including, without limitation: (a) the failure to make principal payments on the Notes at their stated maturity or any earlier redemption date or to make interest payments on the Notes and such failure is not cured within three business days; (b) the failure to disburse amounts in accordance with the priority of payments and such failure is not cured within three business days; and (c) the occurrence of certain bankruptcy and insolvency events with respect to Murray Hill Funding II or Murray Hill Funding. As of and for the three months ended June 30, 2023, Murray Hill Funding II was in compliance with all covenants and reporting requirements.

Murray Hill Funding, in turn, entered into a repurchase transaction with UBS, pursuant to the terms of a Global Master Repurchase Agreement and the related Annex and Master Confirmation thereto, each dated May 19, 2017, or collectively, the UBS Facility. Pursuant to the UBS Facility, on May 19, 2017 and June 19, 2017, UBS purchased Notes held by Murray Hill Funding for an aggregate purchase price equal to 65% of the principal amount of Notes purchased. Subject to certain conditions, the maximum principal amount of Notes that may be purchased under the UBS Facility was $192,308. Accordingly, the aggregate maximum amount payable to Murray Hill Funding under the UBS Facility would not exceed $125,000. Murray Hill Funding was required to repurchase the Notes sold to UBS under the UBS Facility by no later than May 19, 2020. The repurchase price paid by Murray Hill Funding to UBS will be equal to the purchase price paid by UBS for the repurchased Notes (giving effect to any reductions resulting from voluntary partial prepayment(s)). The financing fee under the UBS Facility was equal to the three-month LIBOR plus a spread of up to 3.50% per year for the relevant period.

On December 1, 2017, Murray Hill Funding II amended and restated the Indenture, or the Amended Indenture, pursuant to which the aggregate principal amount of Notes that may be issued by Murray Hill Funding II was increased from $192,308 to $266,667. On December 1, 2017, Murray Hill Funding entered into a First Amended and Restated Master Confirmation to the Global Master Repurchase Agreement, or the Amended Master Confirmation, which sets forth the terms of the repurchase transaction between Murray Hill Funding and UBS under the UBS Facility. As part of the Amended Master Confirmation, on December 15, 2017 and April 2, 2018, UBS purchased the increased aggregate principal amount of Notes held by Murray Hill Funding for an aggregate purchase price equal to 75% of the principal amount of Notes issued. As a result of the Amended Master Confirmation, the aggregate maximum amount payable to Murray Hill Funding and made available to the Company under the UBS Facility was increased from $125,000 to $200,000. No other material terms of the UBS Facility were revised in connection with the amended UBS Facility, or the Amended UBS Facility.

On May 19, 2020, Murray Hill Funding entered into a Second Amended and Restated Master Confirmation to the Global Master Repurchase Agreement, or the Second Amended Master Confirmation, which extended the date that Murray Hill Funding will be required to repurchase the Notes sold to UBS under the Amended UBS Facility from May 19, 2020 to November 19, 2020, and increased the spread on the financing fee from 3.50% to 3.90% per year.

On May 19, 2020, Murray Hill Funding also repurchased Notes in the aggregate principal amount of $133,333 from UBS for an aggregate repurchase price of $100,000, which was then repaid by Murray Hill Funding II. The repurchase of the Notes on May 19, 2020 resulted in a repayment of one-half of the outstanding amount of borrowings under the Amended UBS Facility as of May 19, 2020. As of December 31, 2020, Notes remained outstanding in the aggregate principal amount of $133,333, which was purchased by Murray Hill Funding from Murray Hill Funding II and subsequently sold to UBS under the Amended UBS Facility for aggregate proceeds of $100,000.

On November 12, 2020, Murray Hill Funding entered into a Third Amended and Restated Master Confirmation to the Global Master Repurchase Agreement, or the Third Amended Master Confirmation, to further extend the date that Murray Hill Funding will be required to repurchase the Notes to December 18, 2020.

On December 17, 2020, Murray Hill Funding entered into a Fourth Amended and Restated Master Confirmation to the Global Master Repurchase Agreement, or the Fourth Amended Master Confirmation, which further extended the date that Murray Hill Funding will be required to repurchase the Notes sold to UBS under the Amended UBS Facility from December 18, 2020 to November 19, 2023, and decreased the spread on the financing fee from 3.90% to 3.375% per year. No other material terms of the Amended UBS Facility were revised in connection with the Fourth Amended Master Confirmation.

On December 17, 2020, Murray Hill Funding also entered into a Revolving Credit Note Agreement, or the Revolving Note Agreement, with Murray Hill Funding II, UBS and U.S. Bank, as note agent and trustee, which provides for a revolving credit facility in an aggregate principal amount of $50,000, subject to compliance with a borrowing base. Murray Hill Funding II will issue Class A-R Notes, or the Class A-R Notes, in exchange for advances under the Revolving Note Agreement. Principal on the Class A-R Notes will be due and payable on the stated maturity date of May 19, 2027, which is the same stated maturity date as the Notes.

The Class A-R Notes will be issued pursuant to a Second Amended and Restated Indenture, dated December 17, 2020, between Murray Hill Funding II and U.S. Bank, as trustee, or the Second Amended Indenture. Under the Second Amended Indenture, the aggregate principal amount of Notes and Class A-R Notes that may be issued by Murray Hill Funding II from time to time is $150,000. Murray Hill Funding, in turn, entered into a repurchase transaction with UBS pursuant to the terms of the related Annex and Master Confirmation, dated December 17, 2020, to the Global Master Repurchase Agreement, dated May 19, 2017, related to the Class A-R Notes. Murray Hill Funding was required to repurchase the Class A-R Notes that will be sold to UBS by no later than November 19, 2023. The financing fee for the funded Class A-R Notes was equal to the three-month LIBOR plus a spread of 3.375% per year while the financing fee for the unfunded Class A-R Notes is equal to 0.75% per year.

On June 14, 2023, Murray Hill Funding entered into with UBS (i) a Fifth Amended and Restated Master Confirmation (Class A-1 Notes) to the Global Master Repurchase Agreement, or the Fifth Amended Master Confirmation, and (ii) an Amended and Restated Master Confirmation (Class A-R Notes) to the Global Master Repurchase Agreement, or the Amended Master Confirmation. Under both Confirmations, the date that Murray Hill Funding will be required to repurchase the Notes and the Class A-R Notes previously sold to UBS under the Amended UBS Facility was extended from November 19, 2023 to November 19, 2024. Also under both Confirmations, the financing fee payable to UBS was revised from a floating rate equal to the three-month LIBOR, plus a spread of 3.375% per year, to a floating rate equal to the three-month SOFR, plus a spread of (a) to (but excluding) November 19, 2023, 3.525% per year, and (b) thereafter, 3.20% per year. The effective date of both Confirmations was June 15, 2023. No other material terms of the Amended UBS Facility were revised in connection with the Fifth Amended Master Confirmation or the Amended Master Confirmation.

On July 1, 2021, December 14, 2021 and April 19, 2022, UBS purchased Class A-R Notes held by Murray Hill Funding for an aggregate purchase price equal to 100% of the principal amount of Class A-R Notes purchased, which was $21,000, $25,000 and $17,500, respectively. On August 20, 2021, March 7, 2023 and April 14, 2023, Murray Hill Funding repurchased Class A-R Notes from UBS in the aggregate principal amount of $21,000, $17,500 and $25,000, respectively, for an aggregate repurchase price of $21,000, $17,500 and $25,000, respectively, which was then repaid by Murray Hill Funding II. The repurchase of the Class A-R Notes on August 20, 2021, March 7, 2023 and April 14, 2023 resulted in repayments of $21,000, $17,500 and $25,000, respectively, of the outstanding amount of borrowings under the Amended UBS Facility.

UBS may require Murray Hill Funding to post cash collateral if, without limitation, the sum of the market value of the portfolio of assets and the cash and eligible investments held by Murray Hill Funding II, together with any posted cash collateral, is less than the required margin amount under the Amended UBS Facility; provided, however, that Murray Hill Funding will not be required to post cash collateral with UBS until such market value has declined at least 10% from the initial market value of the portfolio assets.

The Company has no contractual obligation to post any such cash collateral or to make any payments to UBS on behalf of Murray Hill Funding. The Company may, but is not obligated to, increase its investment in Murray Hill Funding for the purpose of funding any cash collateral or payment obligations for which Murray Hill Funding becomes obligated in connection with the Amended UBS Facility. The Company’s exposure under the Amended UBS Facility is limited to the value of the Company’s investment in Murray Hill Funding.  

Pursuant to the Amended UBS Facility, Murray Hill Funding made certain representations and warranties and is required to comply with a borrowing base requirement, various covenants, reporting requirements and other customary requirements for similar transactions. The Amended UBS Facility contains events of default customary for similar financing transactions, including, without limitation: (a) failure to transfer the Notes to UBS on the applicable purchase date or repurchase the Notes from UBS on the applicable repurchase date; (b) failure to pay certain fees and make-whole amounts when due; (c) failure to post cash collateral as required; (d) the occurrence of insolvency events with respect to Murray Hill Funding; and (e) the admission by Murray Hill Funding of its inability to, or its intention not to, perform any of its obligations under the Amended UBS Facility. As of and for the three months ended June 30, 2023, Murray Hill Funding was in compliance with all covenants and reporting requirements.

Murray Hill Funding paid an upfront fee and incurred certain other customary costs and expenses totaling $2,637 in connection with obtaining the Amended UBS Facility, which were recorded as a direct reduction to the outstanding balance of the Amended UBS Facility, which is included in the Company’s consolidated balance sheets and amortized to interest expense over the term of the Amended UBS Facility. At June 30, 2023, all upfront fees and other expenses were fully amortized.

As of June 30, 2023, Notes in the aggregate principal amount of $100,000 had been purchased by Murray Hill Funding from Murray Hill Funding II and subsequently sold to UBS under the Amended UBS Facility for aggregate proceeds of $100,000. The carrying amount outstanding under the Amended UBS Facility approximates its fair value. The Company funded each purchase of Notes by Murray Hill Funding through a capital contribution to Murray Hill Funding. As of June 30, 2023, the amount due at maturity under the Amended UBS Facility was $100,000. The Notes issued by Murray Hill Funding II and purchased by Murray Hill Funding eliminate in consolidation on the Company’s consolidated financial statements.

As of June 30, 2023, the fair value of assets held by Murray Hill Funding II was $229,265.

For the three and six months ended June 30, 2023 and 2022 and the year ended December 31, 2022, the components of interest expense, average borrowings, and weighted average interest rate for the Amended UBS Facility were as follows:

	Three Months Ended June 30,						Six Months Ended June 30,						Year Ended December 31,
	2023			2022			2023			2022			2022
Stated interest expense	$	2,162		$	1,533		$	4,966		$	2,680		$	7,273
Non-usage fee	89			21			112			68			96
Total interest expense	$	2,251		$	1,554		$	5,078		$	2,748		$	7,369
Weighted average interest rate(1)	8.62		%	4.42		%	8.39		%	4.14		%	5.29		%
Average borrowings	$	103,297		$	139,038		$	120,373		$	132,058		$	137,322

(1)Includes the stated interest expense and non-usage fee on the unused portion of the Amended UBS Facility and is annualized for periods covering less than one year.

Series A Notes

On February 28, 2023, the Company entered into a Deed of Trust, or the Deed of Trust, with Mishmeret Trust Company Ltd., as trustee, under which the Company issued $80,712 in aggregate principal amount of its Series A Unsecured Notes due 2026, or the Series A Notes. The Series A Notes offering in Israel closed on February 28, 2023 and the Series A Notes listed and commenced trading on the TASE on February 28, 2023. After the deduction of fees and other offering expenses, the Company received net proceeds of approximately $77,900, which it used to make investments in portfolio companies in accordance with its investment objectives and for working capital and general corporate purposes. The Series A Notes are rated A1.il by Midroog Ltd., an affiliate of Moody’s. The carrying amount outstanding under the Series A Notes approximates its fair value.

The Series A Notes will mature on August 31, 2026 and may be redeemed in whole or in part at the Company's option at par plus a “make-whole” premium, if applicable, as set forth in the Deed of Trust. The Series A Notes bear interest at a rate equal to SOFR plus a credit spread of 3.82% per year, which will be paid quarterly on February 28, May 31, August 31, and November 30 of each year, which commenced on May 31, 2023. The Series A Notes are general unsecured obligations of the Company that rank senior in right of payment to all of the Company’s existing and future indebtedness that is expressly subordinated in right of payment to the Series A Notes, rank pari passu with all existing and future unsecured unsubordinated indebtedness issued by the Company, rank effectively junior to any of the Company's secured indebtedness (including unsecured indebtedness that the Company later secures) to the extent of the value of the assets securing such indebtedness, and rank structurally junior to all existing and future indebtedness (including trade payables) incurred by the Company's subsidiaries, financing vehicles or similar facilities.

The Deed of Trust contains other terms and conditions, including, without limitation, affirmative and negative covenants such as (i) information reporting, (ii) maintenance of the Company’s status as a BDC within the meaning of the 1940 Act, (iii) minimum shareholders’ equity of $525 million, (iv) a minimum asset coverage ratio of not less than 150%, and (v) an unencumbered asset coverage ratio of 1.25 to 1.00. In addition, the Deed of Trust 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 the Company’s other indebtedness in an outstanding aggregate principal amount of at least $50,000, certain judgments and orders, and certain events of bankruptcy. As of and for the three months ended June 30, 2023, the Company was in compliance with all covenants and reporting requirements.

On February 26, 2023, the Company’s shares of common stock listed and commenced trading on the TASE under the ticker symbol “CION”.

Through June 30, 2023, the Company incurred debt issuance costs of $3,006 in connection with issuing the Series A Notes, which were recorded as a direct reduction to the outstanding balance of the Series A Notes, which is included in the Company’s consolidated balance sheet as of June 30, 2023 and will amortize to interest expense over the term of the Series A Notes. At June 30, 2023, the unamortized portion of the debt issuance costs was $2,714.

For the three months ended June 30, 2023 and the period from February 28, 2023 through June 30, 2023, the components of interest expense, average borrowings, and weighted average interest rate for the Series A Notes were as follows:

	Three Months Ended June 30, 2023			For the Period From February 28, 2023 Through June 30, 2023
Stated interest expense	$	1,781		$	2,399
Amortization of deferred financing costs	212			290
Total interest expense	$	1,993		$	2,689
Weighted average interest rate(1)	8.73		%	8.73		%
Average borrowings	$	80,712		$	80,712

(1) Includes the stated interest expense on the Series A Notes and is annualized for periods covering less than one year.

2022 More Term Loan

On April 27, 2022, the Company entered into an Unsecured Term Loan Facility Agreement, or the More Term Loan Agreement, with More Provident Funds and Pension Ltd., or More Provident, as lender, which provided for an unsecured term loan to the Company in an aggregate principal amount of $50,000, or the 2022 More Term Loan. On April 27, 2022, the Company drew down $50,000 of borrowings under the 2022 More Term Loan. After the deduction of fees and other financing expenses, the Company received net borrowings of approximately $49,000, which it used for working capital and other general corporate purposes. The carrying amount outstanding under the 2022 More Term Loan approximates its fair value.

Advances under the 2022 More Term Loan bear interest at a floating rate equal to the three-month SOFR, plus a credit spread of 3.50% per year and subject to a 1.0% SOFR floor, payable quarterly in arrears. Advances under the 2022 More Term Loan mature on April 27, 2027. The Company has the right to, at its option, prepay all or any portion of advances then outstanding together with a prepayment fee equal to the higher of (i) zero, or (ii) the discounted present value of all remaining interest payments that would have been paid by the Company through the maturity date with respect to the principal amount of such advance that is to be prepaid or becomes due and payable pursuant to the More Term Loan Agreement. The discounted present value portion of the prepayment fee is calculated by applying a discount rate on the same periodic basis as that on which interest on advances is payable equal to the three-month SOFR plus 2.00%.

Advances under the 2022 More Term Loan are general unsecured obligations of the Company that rank pari passu with all existing and future unsecured unsubordinated indebtedness issued by the Company, rank effectively junior to any of the Company’s secured indebtedness (including unsecured indebtedness that the Company later secures) to the extent of the value of the assets securing such indebtedness, and rank structurally junior to all existing and future indebtedness (including trade payables) incurred by certain of the Company’s subsidiaries, financing vehicles or similar facilities.

The More Term Loan Agreement contains other terms and conditions, including, without limitation, affirmative and negative covenants such as (i) information reporting, (ii) maintenance of the Company’s status as a BDC within the meaning of the 1940 Act, (iii) minimum shareholders’ equity of 60% of the Company’s net asset value as of the year ended December 31, 2021 plus 50% of the net cash proceeds of the sale of certain equity interests by the Company after April 27, 2022, if any, (iv) a minimum asset coverage ratio of not less than 150%, and (v) an unencumbered asset coverage ratio of 1.25 to 1.00, provided that (a) first lien senior secured loans and cash represent more than 65% of the total value of unencumbered assets used by the Company for purposes of the ratio and (b) equity interests or structured products in the aggregate represent less than 15% of the total value of unencumbered assets used by the Company for purposes of the ratio. In addition, the More Term Loan Agreement 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 or derivative securities of the Company in an outstanding aggregate principal amount of at least $25,000, certain judgments and orders, and certain events of bankruptcy. As of and for the three months ended June 30, 2023, the Company was in compliance with all covenants and reporting requirements.

Through June 30, 2023, the Company incurred debt issuance costs of $1,025 in connection with obtaining the 2022 More Term Loan, which were recorded as a direct reduction to the outstanding balance of the 2022 More Term Loan, which is included in the Company’s consolidated balance sheet as of June 30, 2023 and will amortize to interest expense over the term of the 2022 More Term Loan. At June 30, 2023, the unamortized portion of the debt issuance costs was $784.

Cash Balances Risk [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

We and our portfolio companies may maintain cash balances at financial institutions that exceed federally insured limits and may otherwise be materially affected by adverse developments affecting the financial services industry, such as actual events or concerns involving liquidity, defaults or non-performance by financial institutions or transactional counterparties.

Our cash is held principally at one financial institution that we believe is of high quality and at times may exceed insured limits. Cash held by us and by our portfolio companies in non-interest-bearing and interest-bearing operating accounts may exceed the FDIC insurance limits. If such banking institutions were to fail, we or our portfolio companies could lose all or a portion of those amounts held in excess of such insurance limitations. In addition, actual events involving limited liquidity, defaults, non-performance or other adverse developments that affect financial institutions, transactional counterparties or other companies in the financial services industry or the financial services industry generally, or concerns or rumors about any events of these kinds or other similar risks, have in the past and may in the future lead to market-wide liquidity problems, which could adversely affect our and our portfolio companies’ business, financial condition, results of operations, or prospects.

Although we assess our banking relationships as we believe necessary or appropriate, our access to funding sources and other credit arrangements in amounts adequate to finance or capitalize our current and projected future business operations could be significantly impaired by factors that affect us, the financial institutions with which we have arrangements directly, or the financial services industry or economy in general. These factors could include, among others, events such as liquidity constraints or failures, the ability to perform obligations under various types of financial, credit or liquidity agreements or arrangements, disruptions or instability in the financial services industry or financial markets or concerns or negative expectations about the prospects for companies in the financial services industry. These factors could involve financial institutions or financial services industry companies with which we have financial or business relationships but could also include factors involving financial markets or the financial services industry generally.

In addition, investor concerns regarding the U.S. or international financial systems could result in less favorable commercial financing terms, including higher interest rates or costs and tighter financial and operating covenants, or systemic limitations on access to credit and liquidity sources, thereby making it more difficult for us to acquire financing on acceptable terms or at all.

2026 Notes [Member]

Capital Stock, Long-Term Debt, and Other Securities [Abstract]

Long Term Debt, Title [Text Block]

2026 Notes

Long Term Debt, Structuring [Text Block]

The 2026 Notes mature on February 11, 2026. The 2026 Notes bear interest at a rate of 4.50% per year payable semi-annually on February 11th and August 11th of each year, which commenced on August 11, 2021. The Company has the right to, at its option, redeem all or a part that is not less than 10% of the 2026 Notes (i) on or before February 11, 2024, at a redemption price equal to 100% of the principal amount of 2026 Notes to be redeemed plus an applicable “make-whole” amount equal to (x) the discounted value of the remaining scheduled payments with respect to the principal of such 2026 Note that is to be prepaid or becomes due and payable pursuant to the Note Purchase Agreement over (y) the amount of such called principal, plus accrued and unpaid interest, if any, (ii) after February 11, 2024 but on or before February 11, 2025, at a redemption price equal to 102% of the principal amount of the 2026 Notes to be redeemed, plus accrued and unpaid interest, if any, (iii) after February 11, 2025 but on or before August 11, 2025, at a redemption price equal to 101% of the principal amount of the 2026 Notes to be redeemed, plus accrued and unpaid interest, if any, and (iv) after August 11, 2025, at a redemption price equal to 100% of the principal amount of the 2026 Notes to be redeemed, plus accrued and unpaid interest, if any. For any redemptions occurring on or before February 11, 2024, the discounted value portion of the “make whole amount” is calculated by applying a discount rate on the same periodic basis as that on which interest on the 2026 Notes is payable equal to the sum of 0.50% plus the yield to maturity of the most recently issued U.S. Treasury securities having a maturity equal to the remaining average life of the 2026 Notes, or if there are no such U.S. Treasury securities, using such implied yield to maturity determined in accordance with the terms of the Note Purchase Agreement.

The 2026 Notes are general unsecured obligations of the Company that rank pari passu with all existing and future unsecured unsubordinated indebtedness issued by the Company, rank effectively junior to any of the Company’s secured indebtedness (including unsecured indebtedness that the Company later secures) to the extent of the value of the assets securing such indebtedness, and rank structurally junior to all existing and future indebtedness (including trade payables) incurred by certain of the Company’s subsidiaries, financing vehicles or similar facilities.

Long Term Debt, Dividends and Covenants [Text Block]

The Note Purchase Agreement contains other terms and conditions, including, without limitation, affirmative and negative covenants such as (i) information reporting, (ii) maintenance of the Company’s status as a BDC, (iii) minimum shareholders’ equity of 60% of the Company’s net asset value as of the year ended December 31, 2020 plus 50% of the net cash proceeds of the sale of certain equity interests by the Company after February 11, 2021, if any, (iv) a minimum asset coverage ratio of not less than 150%, (v) a minimum interest coverage ratio of 1.25 to 1.00 and (vi) an unencumbered asset coverage ratio of 1.25 to 1.00, provided that (a) first lien senior secured loans and cash represent more than 65% of the total value of unencumbered assets used by the Company for purposes of the ratio and (b) equity interests or structured products in the aggregate represent less than 15% of the total value of unencumbered assets used by the Company for purposes of the ratio. As of and for the three months ended June 30, 2023, the Company was in compliance with all covenants and reporting requirements.

The Note Purchase Agreement also contains a “most favored lender” provision in favor of the purchasers in respect of any new unsecured credit facilities, loans or indebtedness in excess of $25,000 incurred by the Company, which indebtedness contains a financial covenant not contained in, or more restrictive against the Company than those contained, in the Note Purchase Agreement. In addition, the Note Purchase Agreement 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 or derivative securities of the Company in an outstanding aggregate principal amount of at least $25,000, certain judgments and orders, and certain events of bankruptcy.

UBS Facility [Member]

Capital Stock, Long-Term Debt, and Other Securities [Abstract]

Long Term Debt, Title [Text Block]

UBS Facility

Long Term Debt, Structuring [Text Block]

On December 17, 2020, Murray Hill Funding entered into a Fourth Amended and Restated Master Confirmation to the Global Master Repurchase Agreement, or the Fourth Amended Master Confirmation, which further extended the date that Murray Hill Funding will be required to repurchase the Notes sold to UBS under the Amended UBS Facility from December 18, 2020 to November 19, 2023, and decreased the spread on the financing fee from 3.90% to 3.375% per year. No other material terms of the Amended UBS Facility were revised in connection with the Fourth Amended Master Confirmation.

On December 17, 2020, Murray Hill Funding also entered into a Revolving Credit Note Agreement, or the Revolving Note Agreement, with Murray Hill Funding II, UBS and U.S. Bank, as note agent and trustee, which provides for a revolving credit facility in an aggregate principal amount of $50,000, subject to compliance with a borrowing base. Murray Hill Funding II will issue Class A-R Notes, or the Class A-R Notes, in exchange for advances under the Revolving Note Agreement. Principal on the Class A-R Notes will be due and payable on the stated maturity date of May 19, 2027, which is the same stated maturity date as the Notes.

Long Term Debt, Dividends and Covenants [Text Block]

Pursuant to the Amended UBS Facility, Murray Hill Funding made certain representations and warranties and is required to comply with a borrowing base requirement, various covenants, reporting requirements and other customary requirements for similar transactions. The Amended UBS Facility contains events of default customary for similar financing transactions, including, without limitation: (a) failure to transfer the Notes to UBS on the applicable purchase date or repurchase the Notes from UBS on the applicable repurchase date; (b) failure to pay certain fees and make-whole amounts when due; (c) failure to post cash collateral as required; (d) the occurrence of insolvency events with respect to Murray Hill Funding; and (e) the admission by Murray Hill Funding of its inability to, or its intention not to, perform any of its obligations under the Amended UBS Facility. As of and for the three months ended June 30, 2023, Murray Hill Funding was in compliance with all covenants and reporting requirements.

Murray Hill Funding paid an upfront fee and incurred certain other customary costs and expenses totaling $2,637 in connection with obtaining the Amended UBS Facility, which were recorded as a direct reduction to the outstanding balance of the Amended UBS Facility, which is included in the Company’s consolidated balance sheets and amortized to interest expense over the term of the Amended UBS Facility. At June 30, 2023, all upfront fees and other expenses were fully amortized.

Senior Notes A [Member]

Capital Stock, Long-Term Debt, and Other Securities [Abstract]

Long Term Debt, Title [Text Block]

Series A Notes

Long Term Debt, Structuring [Text Block]

On February 28, 2023, the Company entered into a Deed of Trust, or the Deed of Trust, with Mishmeret Trust Company Ltd., as trustee, under which the Company issued $80,712 in aggregate principal amount of its Series A Unsecured Notes due 2026, or the Series A Notes. The Series A Notes offering in Israel closed on February 28, 2023 and the Series A Notes listed and commenced trading on the TASE on February 28, 2023. After the deduction of fees and other offering expenses, the Company received net proceeds of approximately $77,900, which it used to make investments in portfolio companies in accordance with its investment objectives and for working capital and general corporate purposes. The Series A Notes are rated A1.il by Midroog Ltd., an affiliate of Moody’s. The carrying amount outstanding under the Series A Notes approximates its fair value.

The Series A Notes will mature on August 31, 2026 and may be redeemed in whole or in part at the Company's option at par plus a “make-whole” premium, if applicable, as set forth in the Deed of Trust. The Series A Notes bear interest at a rate equal to SOFR plus a credit spread of 3.82% per year, which will be paid quarterly on February 28, May 31, August 31, and November 30 of each year, which commenced on May 31, 2023. The Series A Notes are general unsecured obligations of the Company that rank senior in right of payment to all of the Company’s existing and future indebtedness that is expressly subordinated in right of payment to the Series A Notes, rank pari passu with all existing and future unsecured unsubordinated indebtedness issued by the Company, rank effectively junior to any of the Company's secured indebtedness (including unsecured indebtedness that the Company later secures) to the extent of the value of the assets securing such indebtedness, and rank structurally junior to all existing and future indebtedness (including trade payables) incurred by the Company's subsidiaries, financing vehicles or similar facilities.

Long Term Debt, Dividends and Covenants [Text Block]

The Deed of Trust contains other terms and conditions, including, without limitation, affirmative and negative covenants such as (i) information reporting, (ii) maintenance of the Company’s status as a BDC within the meaning of the 1940 Act, (iii) minimum shareholders’ equity of $525 million, (iv) a minimum asset coverage ratio of not less than 150%, and (v) an unencumbered asset coverage ratio of 1.25 to 1.00. In addition, the Deed of Trust 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 the Company’s other indebtedness in an outstanding aggregate principal amount of at least $50,000, certain judgments and orders, and certain events of bankruptcy. As of and for the three months ended June 30, 2023, the Company was in compliance with all covenants and reporting requirements.

2022 More Term Loan [Member]

Capital Stock, Long-Term Debt, and Other Securities [Abstract]

Long Term Debt, Title [Text Block]

2022 More Term Loan

Long Term Debt, Structuring [Text Block]

On April 27, 2022, the Company entered into an Unsecured Term Loan Facility Agreement, or the More Term Loan Agreement, with More Provident Funds and Pension Ltd., or More Provident, as lender, which provided for an unsecured term loan to the Company in an aggregate principal amount of $50,000, or the 2022 More Term Loan. On April 27, 2022, the Company drew down $50,000 of borrowings under the 2022 More Term Loan. After the deduction of fees and other financing expenses, the Company received net borrowings of approximately $49,000, which it used for working capital and other general corporate purposes. The carrying amount outstanding under the 2022 More Term Loan approximates its fair value.

Advances under the 2022 More Term Loan bear interest at a floating rate equal to the three-month SOFR, plus a credit spread of 3.50% per year and subject to a 1.0% SOFR floor, payable quarterly in arrears. Advances under the 2022 More Term Loan mature on April 27, 2027. The Company has the right to, at its option, prepay all or any portion of advances then outstanding together with a prepayment fee equal to the higher of (i) zero, or (ii) the discounted present value of all remaining interest payments that would have been paid by the Company through the maturity date with respect to the principal amount of such advance that is to be prepaid or becomes due and payable pursuant to the More Term Loan Agreement. The discounted present value portion of the prepayment fee is calculated by applying a discount rate on the same periodic basis as that on which interest on advances is payable equal to the three-month SOFR plus 2.00%.

Advances under the 2022 More Term Loan are general unsecured obligations of the Company that rank pari passu with all existing and future unsecured unsubordinated indebtedness issued by the Company, rank effectively junior to any of the Company’s secured indebtedness (including unsecured indebtedness that the Company later secures) to the extent of the value of the assets securing such indebtedness, and rank structurally junior to all existing and future indebtedness (including trade payables) incurred by certain of the Company’s subsidiaries, financing vehicles or similar facilities.

Long Term Debt, Dividends and Covenants [Text Block]

The More Term Loan Agreement contains other terms and conditions, including, without limitation, affirmative and negative covenants such as (i) information reporting, (ii) maintenance of the Company’s status as a BDC within the meaning of the 1940 Act, (iii) minimum shareholders’ equity of 60% of the Company’s net asset value as of the year ended December 31, 2021 plus 50% of the net cash proceeds of the sale of certain equity interests by the Company after April 27, 2022, if any, (iv) a minimum asset coverage ratio of not less than 150%, and (v) an unencumbered asset coverage ratio of 1.25 to 1.00, provided that (a) first lien senior secured loans and cash represent more than 65% of the total value of unencumbered assets used by the Company for purposes of the ratio and (b) equity interests or structured products in the aggregate represent less than 15% of the total value of unencumbered assets used by the Company for purposes of the ratio. In addition, the More Term Loan Agreement 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 or derivative securities of the Company in an outstanding aggregate principal amount of at least $25,000, certain judgments and orders, and certain events of bankruptcy. As of and for the three months ended June 30, 2023, the Company was in compliance with all covenants and reporting requirements.

2021 More Term Loan [Member]

Capital Stock, Long-Term Debt, and Other Securities [Abstract]

Long Term Debt, Title [Text Block]

2021 More Term Loan

Long Term Debt, Structuring [Text Block]

On April 14, 2021, the Company entered into an Unsecured Term Loan Facility Agreement, or the Term Loan Agreement, with More Provident Funds Ltd., or More, as lender. The Term Loan Agreement with More, or the 2021 More Term Loan, provided for an unsecured term loan to the Company in an aggregate principal amount of $30,000. On April 20, 2021, the Company drew down $30,000 of borrowings under the 2021 More Term Loan. After the deduction of fees and other financing expenses, the Company received net borrowings of approximately $29,000, which the Company used for working capital and other general corporate purposes.

Advances under the 2021 More Term Loan mature on September 30, 2024, and bear interest at a rate of 5.20% per year payable quarterly in arrears. The Company has the right to, at its option, prepay all or any portion of advances then outstanding together with a prepayment fee equal to the higher of (i) zero, or (ii) the discounted present value of all remaining interest payments that would have been paid by the Company through the maturity date with respect to the principal amount of such advance that is to be prepaid or becomes due and payable pursuant to the Term Loan Agreement. The discounted present value portion of the prepayment fee is calculated by applying a discount rate on the same periodic basis as that on which interest on advances is payable equal to the sum of 2.00% plus the yield to maturity of the most recently issued U.S. Treasury securities having a maturity equal to the remaining average life of the 2021 More Term Loan, or if there are no such U.S. Treasury securities, using such implied yield to maturity determined in accordance with the terms of the Term Loan Agreement.

Advances under the 2021 More Term Loan are general unsecured obligations of the Company that rank pari passu with all existing and future unsecured unsubordinated indebtedness issued by the Company, rank effectively junior to the Company's secured indebtedness (including unsecured indebtedness that the Company later secures) to the extent of the value of the assets securing such indebtedness, and rank structurally junior to all existing and future indebtedness (including trade payables) incurred by certain of the Company's subsidiaries, financing vehicles or similar facilities.

Long Term Debt, Dividends and Covenants [Text Block]

The Term Loan Agreement contains other terms and conditions, including, without limitation, affirmative and negative covenants such as (i) information reporting, (ii) maintenance of the Company's status as a BDC within the meaning of the 1940 Act, (iii) minimum shareholders’ equity of 60% of the Company’s net asset value as of the year ended December 31, 2020 plus 50% of the net cash proceeds of the sale of certain equity interests by the Company after April 14, 2021, if any, (iv) a minimum asset coverage ratio of not less than 150%, and (v) an unencumbered asset coverage ratio of 1.25 to 1.00, provided that (a) first lien senior secured loans and cash represent more than 65% of the total value of unencumbered assets used by the Company for purposes of the ratio and (b) equity interests or structured products in the aggregate represent less than 15% of the total value of unencumbered assets used by the Company for purposes of the ratio. In addition, the Term Loan Agreement 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 or derivative securities of the Company in an outstanding aggregate principal amount of at least $25,000, certain judgments and orders, and certain events of bankruptcy. As of and for the three months ended June 30, 2023, the Company was in compliance with all covenants and reporting requirements.

JPM Credit Facility [Member]

Capital Stock, Long-Term Debt, and Other Securities [Abstract]

Long Term Debt, Title [Text Block]

JPM Credit Facility

Long Term Debt, Structuring [Text Block]

On March 28, 2022, 34th Street entered into a First Amendment to the Third Amended JPM Credit Facility with JPM, or the JPM First Amendment. Under the JPM First Amendment, the aggregate principal amount available for borrowings was increased from $575,000 to $675,000, subject to conditions described in the JPM First Amendment. Additional advances of up to $100,000 under the JPM First Amendment bore interest at a floating rate equal to the three-month SOFR, plus a credit spread of 3.10% per year, and a LIBOR to SOFR credit spread adjustment of 0.15%. 34th Street incurred certain customary costs and expenses in connection with the JPM First Amendment. No other material terms of the Third Amended JPM Credit Facility were revised in connection with the JPM First Amendment.

On May 15, 2023, 34th Street entered into a Second Amendment to the Third Amended JPM Credit Facility with JPM, or the JPM Second Amendment. Under the JPM Second Amendment, the aggregate principal amount available for borrowings remained unchanged of up to $675,000 but all such advances bear interest at a floating rate equal to the three-month SOFR, plus a credit spread of 3.05% per year, and a LIBOR to SOFR credit spread adjustment of 0.15%. The reinvestment period was extended from May 15, 2023 to May 15, 2024 and the maturity date was extended from May 15, 2024 to May 15, 2025. Also under the JPM Second Amendment, the amount of minimum borrowings required was reduced by $50,000 to $550,000 with a six-month non-call provision. 34th Street incurred certain customary costs and expenses in connection with the JPM Second Amendment. No other material terms of the Third Amended JPM Credit Facility were revised in connection with the JPM Second Amendment.

Interest is payable quarterly in arrears. 34th Street may prepay advances pursuant to the terms and conditions of the Third Amended JPM Credit Facility and the JPM Second Amendment, subject to a 1.0% premium in certain circumstances. In addition, 34th Street will be subject to a non-usage fee of 1.0% per year on the amount, if any, of the aggregate principal amount available under the Third Amended JPM Credit Facility and the JPM Second Amendment that has not been borrowed through May 14, 2024. The non-usage fees, if any, are payable quarterly in arrears.

Long Term Debt, Dividends and Covenants [Text Block]

In connection with the Third Amended JPM Credit Facility and the JPM Second Amendment, 34th Street made certain representations and warranties and is required to comply with a borrowing base requirement, various covenants, reporting requirements and other customary requirements for similar facilities. As of and for the three months ended June 30, 2023, 34th Street was in compliance with all covenants and reporting requirements.

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Summary of Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2023

Accounting Policies [Abstract]

Basis of Presentation

The accompanying unaudited consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles, or GAAP, for interim financial information and pursuant to the instructions for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. For a more complete discussion of significant accounting policies and certain other information, the Company’s interim unaudited consolidated financial statements should be read in conjunction with its audited consolidated financial statements as of December 31, 2022 and for the year then ended included in the Company’s Annual Report on Form 10-K. Operating results for interim periods are not necessarily indicative of the results that may be expected for the full year ending December 31, 2023.

Consolidation

The consolidated balance sheet and the consolidated schedule of investments as of December 31, 2022 and the consolidated statements of operations, changes in net assets, and cash flows for the year ended December 31, 2022 are derived from the 2022 audited consolidated financial statements and include the accounts of the Company’s wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The Company does not consolidate its equity interest in CION/EagleTree Partners, LLC, or CION/EagleTree. See Note 7 for a description of the Company’s investment in CION/EagleTree.

Recently Announced Accounting Pronouncements

In June 2022, the Financial Accounting Standards Board, or the FASB, issued ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions, or ASU 2022-03, which clarifies the guidance when measuring the fair value of an equity security subject to contractual restrictions that prohibit the sale of an equity security and introduces new disclosure requirements for equity securities subject to contractual sale restrictions that are measured at fair value in accordance with Topic 820. ASU 2022-03 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2023. The Company is evaluating the potential impact that the adoption of this guidance will have on the Company’s consolidated financial statements.

In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, or ASU 2020-04, which provides optional expedients and exceptions for applying GAAP to contract modifications, hedging relationships and other transactions, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued because of the reference rate reform. ASU 2020-04 is effective for all entities as of March 12, 2020 through December 31, 2022. The expedients and exceptions provided by this guidance do not apply to contract modifications and hedging relationships entered into or evaluated after December 31, 2022. In December 2022, the FASB issued ASU No. 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848, which deferred the sunset date of this guidance to December 31, 2024. The Company is evaluating the potential impact that the adoption of this guidance will have on the Company’s consolidated financial statements.

Cash and Cash Equivalents

Cash and cash equivalents include cash in banks and highly liquid investments with original maturity dates of three months or less. The Company’s cash and cash equivalents are held principally at one financial institution and at times may exceed insured limits. The Company periodically evaluates the creditworthiness of this institution and has not experienced any losses on such deposits.

Foreign Currency Translations

The accounting records of the Company are maintained in U.S. dollars. All assets and liabilities denominated in foreign currencies are translated into U.S. dollars based on the foreign exchange rate on the date of valuation. The Company does 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 market prices of securities held. Changes in the relationship of foreign currencies to the U.S. dollar can significantly affect the value of these investments and therefore the earnings of the Company.

Income Taxes

The Company elected to be treated for federal income tax purposes as a RIC under Subchapter M of the Code. To qualify and maintain qualification as a RIC, the Company must, among other things, meet certain source of income and asset diversification requirements and distribute to shareholders, for each taxable year, at least 90% of the Company’s “investment company taxable income”, which is generally equal to the sum of the Company’s net ordinary income plus the excess, if any, of realized net short-term capital gains over realized net long-term capital losses. If the Company continues to qualify as a RIC and continues to satisfy the annual distribution requirement, the Company will not be subject to corporate level federal income taxes on any income that the Company distributes to its shareholders. The Company intends to make distributions in an amount sufficient to maintain RIC status each year and to avoid any federal income taxes on income. The Company will also be subject to nondeductible federal excise taxes if the Company does not distribute at least 98.0% of net ordinary income, 98.2% of capital gains, if any, and any recognized and undistributed income from prior years for which it paid no federal income taxes. 

Two of the Company’s wholly-owned consolidated subsidiaries, View ITC, LLC and View Rise, LLC, or collectively the Taxable Subsidiaries, have elected to be treated as taxable entities for U.S. federal income tax purposes. As a result, the Taxable Subsidiaries are not consolidated with the Company for income tax purposes and may generate income tax expense or benefit, and the related tax assets and liabilities, as a result of their ownership of certain portfolio investments. The income tax expense or benefit, if any, and the related tax assets and liabilities, where material, are reflected in the Company’s consolidated financial statements. There were no deferred tax assets or liabilities as of June 30, 2023 or December 31, 2022.

Book/tax differences relating to permanent differences are reclassified among the Company’s capital accounts, as appropriate. Additionally, the tax character of distributions is determined in accordance with income tax regulations that may differ from GAAP (see Note 5).

Uncertainty in Income Taxes

The Company evaluates its tax positions to determine if the tax positions taken meet the minimum recognition threshold for the purposes of measuring and recognizing tax liabilities in the consolidated financial statements. Recognition of a tax benefit or liability with respect to an uncertain tax position is required only when the position is “more likely than not” to be sustained assuming examination by the taxing authorities. The Company recognizes interest and penalties, if any, related to unrecognized tax benefits as income tax expense in the consolidated statements of operations. The Company did not have any uncertain tax positions during the periods presented herein. 

The Company is subject to examination by U.S. federal, New York State, New York City and Maryland income tax jurisdictions for 2019, 2020 and 2021.

Use of Estimates

The preparation of the consolidated financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period.

Actual results may materially differ from those estimates.

Valuation of Portfolio Investments

The fair value of the Company’s investments is determined quarterly in good faith by the Company’s board of directors pursuant to its consistently applied valuation procedures and valuation process in accordance with Accounting Standards Codification Topic 820, Fair Value Measurements and Disclosure, or ASC 820. In accordance with Rule 2a-5 of the 1940 Act, the Company’s board of directors has designated CIM as the Company’s “valuation designee.” The Company’s board of directors and the audit committee of the board of directors, the latter of which is comprised solely of independent directors, oversees the activities, methodology and processes of the valuation designee. ASC 820 defines fair value as the price that would be received from the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820 also establishes a three-tier fair value hierarchy that prioritizes and ranks the level of market price observability of inputs used in measuring investments at fair value. Inputs used to measure these fair values are classified into the following hierarchy:

Level 1 -Quoted prices in active markets for identical assets or liabilities, accessible by the Company at the measurement date.

Level 2 -Quoted prices for similar assets or liabilities in active markets, or quoted prices for identical or similar assets or liabilities in markets that are not active, or other observable inputs other than quoted prices.

Level 3 -Unobservable inputs for the asset or liability. The inputs used in the determination of fair value may require significant management judgment or estimation. Such information may be the result of consensus pricing information or broker quotes that include a disclaimer that the broker would not be held to such a price in an actual transaction. The non-binding nature of consensus pricing and/or quotes accompanied by the disclaimer would result in classification as a Level 3 asset, assuming no additional corroborating evidence.

Market price observability is affected by a number of factors, including the type of investment and the characteristics specific to the investment. Investments with readily available active quoted prices or for which fair value can be measured from actively quoted prices generally will have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value.

Based on the observability of the inputs used in the valuation techniques, the Company is required to provide disclosures on fair value measurements according to the fair value hierarchy. The level in the fair value hierarchy for each fair value measurement has been determined based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to each investment. The level assigned to the investment valuations may not be indicative of the risk or liquidity associated with investing in such investments. Because of the inherent uncertainties of valuation, the values reflected in the consolidated financial statements may differ materially from the value that would be received upon an actual sale of such investments. In addition, changes in the market environment and other events that may occur over the life of the investments may cause the gains or losses that the Company ultimately realizes on these investments to materially differ from the valuations currently assigned.

A portion of the Company’s investments consist of debt securities that are traded on a private over-the-counter market for institutional investments. CIM attempts to obtain market quotations from at least two brokers or dealers for each investment (if available, otherwise from a principal market maker or a primary market dealer or other independent pricing service). CIM typically uses the average midpoint of the broker bid/ask price to determine fair value unless a different point within the range is more representative. Because of the private nature of this marketplace (meaning actual transactions are not publicly reported) and the non-binding nature of consensus pricing and/or quotes, the Company believes that these valuation inputs result in Level 3 classification within the fair value hierarchy. As these quotes are only indicative of fair value, CIM benchmarks the implied fair value yield and leverage against what has been observed in the market. If the implied fair value yield and leverage fall within the range of CIM's market pricing matrix, the quotes are deemed to be reliable and used to determine the investment's fair value.

Notwithstanding the foregoing, if in the reasonable judgment of CIM, the price of any investment held by the Company and determined in the manner described above does not accurately reflect the fair value of such investment, CIM will value such investment at a price that reflects such investment’s fair value and report such change in the valuation to the board of directors or its designee as soon as practicable. Investments that carry certain restrictions on sale will typically be valued at a discount from the public market value of the investment.

Any investments that are not publicly traded or for which a market price is not otherwise readily available are valued at a price that reflects its fair value. With respect to such investments, if CIM is unable to obtain market quotations, the investments are reviewed and valued using one or more of the following types of analyses:

i.Market comparable statistics and public trading multiples discounted for illiquidity, minority ownership and other factors for companies with similar characteristics.

ii.Valuations implied by third-party investments in the applicable portfolio companies.

iii.A benchmarking analysis to compare implied fair value and leverage to comparable market investments.

iv.Discounted cash flow analysis, including a terminal value or exit multiple.

Determination of fair value involves subjective judgments and estimates. Accordingly, these notes to the Company’s consolidated financial statements refer to the uncertainty with respect to the possible effect of such valuations, and any change in such valuations, on the Company’s consolidated financial statements. Below is a description of factors that CIM may consider when valuing the Company’s equity and debt investments where a market price is not readily available:

•the size and scope of a portfolio company and its specific strengths and weaknesses;

•prevailing interest rates for like securities;

•expected volatility in future interest rates;

•leverage; 

•call features, put features, fees and other relevant terms of the debt;

•the borrower’s ability to adequately service its debt;

•the fair market value of the portfolio company in relation to the face amount of its outstanding debt;

•the quality of collateral securing the Company’s debt investments;

•multiples of earnings before interest, taxes, depreciation and amortization, or EBITDA, cash flows, net income, revenues or, in some cases, book value or liquidation value; and

•other factors deemed applicable.

All of these factors may be subject to adjustment based upon the particular circumstances of a portfolio company or the Company’s actual investment position. For example, adjustments to EBITDA may take into account compensation to previous owners, or acquisition, recapitalization, and restructuring expenses or other related or non-recurring items. The choice of analyses and the weight assigned to such factors may vary across investments and may change within an investment if events occur that warrant such a change.

When CIM uses the discounted cash flow model to value the Company's investments, such model deemed appropriate by CIM is prepared for the applicable investments and reviewed by designated members of CIM’s management team. Such models are prepared at least quarterly or on an as needed basis. The model uses the estimated cash flow projections for the underlying investments and an appropriate discount rate is determined based on the latest financial information available for the borrower, prevailing market trends, comparable analysis and other inputs. The model, key assumptions, inputs, and results are reviewed by designated members of CIM’s management team with final approval from the board of directors or its designee.

Consistent with the Company’s valuation policy, the Company evaluates the source of inputs, including any markets in which the Company’s investments are trading, in determining fair value.

The Company periodically benchmarks the broker quotes from the brokers or dealers against the actual prices at which the Company purchases and sells its investments. Based on the results of the benchmark analysis and the experience of the Company’s management in purchasing and selling these investments, the Company believes that these quotes are reliable indicators of fair value. The Company may also use other methods to determine fair value for securities for which it cannot obtain market quotations through brokers or dealers, including the use of an independent valuation firm. Designated members of CIM’s management team and the Company's board of directors or its designee review and approve the valuation determinations made with respect to these investments in a manner consistent with the Company’s valuation process.

As a practical expedient, the Company uses net asset value, or NAV, as the fair value for its equity investment in CION/EagleTree. CION/EagleTree records its underlying investments at fair value on a quarterly basis in accordance with ASC 820.

Revenue Recognition

Securities transactions are accounted for on the trade date. The Company records interest and dividend income on an accrual basis beginning on the trade settlement date or the ex-dividend date, respectively, to the extent that the Company expects to collect such amounts.  For investments in equity tranches of collateralized loan obligations, the Company records income based on the effective interest rate determined using the amortized cost and estimated cash flows, which is updated periodically. Loan origination fees, original issue discounts, or OID, and market discounts/premiums are recorded and such amounts are amortized as adjustments to interest income over the respective term of the loan using the effective interest rate method. Upon the prepayment of a loan or security, prepayment premiums, any unamortized loan origination fees, OID, or market discounts/premiums are recorded as interest income.

The Company may have investments in its investment portfolio that contain a PIK interest provision. PIK interest is accrued as interest income if the portfolio company valuation indicates that such PIK interest is collectible and recorded as interest receivable up to the interest payment date. On the interest payment dates, the Company will capitalize the accrued interest receivable attributable to PIK as additional principal due from the borrower. Additional PIK securities typically have the same terms, including maturity dates and interest rates, as the original securities. In order to maintain RIC status, substantially all of this income must be paid out to shareholders in the form of distributions, even if the Company has not collected any cash. For additional information on investments that contain a PIK interest provision, see the consolidated schedules of investments as of June 30, 2023 and December 31, 2022.

Loans and debt securities, including those that are individually identified as being impaired under Accounting Standards Codification 310, Receivables, or ASC 310, are generally placed on non-accrual status immediately if, in the opinion of management, principal or interest is not likely to be paid, or when principal or interest is past due 90 days or more. Interest accrued but not collected at the date a loan or security is placed on non-accrual status is reversed against interest income. Interest income is recognized on non-accrual loans or debt securities only to the extent received in cash. However, where there is doubt regarding the ultimate collectability of principal, cash receipts, whether designated as principal or interest, are thereafter applied to reduce the carrying value of the loan or debt security. Loans or securities are restored to accrual status only when interest and principal payments are brought current and future payments are reasonably assured.

Dividend income on preferred equity securities is recorded on an accrual basis to the extent that such amounts are payable by the portfolio company and are expected to be collected. Dividend income on common equity securities is recorded on the record date for private portfolio companies or on the ex-dividend date for publicly-traded portfolio companies.

The Company may receive fees for capital structuring services that are fixed based on contractual terms, are normally paid at the closing of the investment, are generally non-recurring and non-refundable and are recognized as revenue when earned upon closing of the investment. The services that CIM provides vary by investment, but generally include reviewing existing credit facilities, arranging bank financing, arranging equity financing, structuring financing from multiple lenders, structuring financing from multiple equity investors, restructuring existing loans, raising equity and debt capital, and providing general financial advice, which concludes upon closing of the investment. In certain instances where the Company is invited to participate as a co-lender in a transaction and does not provide significant services in connection with the investment, a portion of loan fees paid to the Company in such situations will be deferred and amortized over the estimated life of the loan as interest income.

Other income includes amendment fees that are fixed based on contractual terms and are generally non-recurring and non-refundable and are recognized as revenue when earned upon closing of the transaction. Other income also includes fees for managerial assistance and other consulting services, loan guarantees, commitments, and other services rendered by the Company to its portfolio companies. Such fees are fixed based on contractual terms and are recognized as fee income when earned.

Net Realized Gains or Losses and Net Change in Unrealized Appreciation or Depreciation

Gains or losses on the sale of investments are calculated by using the weighted-average method. The Company measures realized gains or losses by the difference between the net proceeds from the sale and the weighted-average amortized cost of the investment, without regard to unrealized appreciation or depreciation previously recognized, but considering unamortized upfront fees. Net change in unrealized appreciation or depreciation reflects the change in portfolio investment values during the reporting period, including any reversal of previously recorded unrealized appreciation or depreciation when gains or losses are realized.

Net (Decrease) Increase in Net Assets per Share

Net (decrease) increase in net assets per share is calculated based upon the daily weighted average number of shares of common stock outstanding during the reporting period.

Distributions

Distributions to shareholders are recorded as of the record date. The amount paid as a distribution is declared by the Company's co-chief executive officers and ratified by the board of directors on a quarterly basis. Net realized capital gains, if any, are distributed at least annually.

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Share Transactions (Tables)

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

Schedule of Stockholders Equity

The following table summarizes transactions with respect to shares of the Company’s outstanding common stock during the six months ended June 30, 2023 and 2022 and the year ended December 31, 2022:

	Six Months Ended June 30,						Year Ended December 31,
	2023			2022			2022
	Shares	Amount		Shares	Amount		Shares	Amount
Gross shares/proceeds from the offering	—	$	—	—	$	—	—	$	—
Reinvestment of distributions	—	—		—	—		—	—
Total gross shares/proceeds	—	—		—	—		—	—
Share repurchase program	(666,657)	(6,818)		—	—		(1,658,956)	(15,444)
Net shares/proceeds from share transactions	(666,657)	$	(6,818)	—	$	—	(1,658,956)	$	(15,444)

The following table summarizes the share repurchases completed during the year ended December 31, 2022 and the six months ended June 30, 2023:

Three Months Ended	Repurchase Date	Shares Repurchased	Percentage of Shares Tendered That Were Repurchased	Repurchase Price Per Share		Aggregate Consideration for Repurchased Shares
2022
March 31, 2022	N/A	—	N/A	N/A		$	—
June 30, 2022	N/A	—	N/A	N/A		—
September 30, 2022	N/A	695,476	N/A	$	9.65	6,711
December 31, 2022	N/A	963,480	N/A	9.06		8,733
Total for the year ended December 31, 2022		1,658,956				$	15,444
2023
March 31, 2023	N/A	338,029	N/A	$	10.63	$	3,592
June 30, 2023	N/A	328,628	N/A	9.81		3,226
Total for the six months ended June 30, 2023		666,657				$	6,818

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Transactions with Related Parties (Tables)

6 Months Ended

Jun. 30, 2023

Related Party Transactions [Abstract]

Schedule of Related Party Transactions

For the three and six months ended June 30, 2023 and 2022 and the year ended December 31, 2022, fees and other expenses incurred by the Company related to CIM and its affiliates were as follows:

			Three Months Ended June 30,				Six Months Ended June 30,				Year Ended December 31,
Entity	Capacity	Description	2023		2022		2023		2022		2022
CIM	Investment adviser	Management fees(1)	$	6,546	$	6,839	$	13,222	$	13,494	$	27,361
CIM	Investment adviser	Incentive fees(1)	4,965		4,091		11,300		8,224		18,710
CIM	Administrative services provider	Administrative services expense(1)	910		781		1,747		1,501		3,348
			$	12,421	$	11,711	$	26,269	$	23,219	$	49,419

(1)Amounts charged directly to operations.

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Distributions (Tables)

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

Schedule of Dividends Declared

The following table presents distributions per share that were declared during the year ended December 31, 2022 and the six months ended June 30, 2023:

	Distributions
Three Months Ended	Per Share		Amount
2022
March 31, 2022 (one record date)	$	0.2800	$	15,948
June 30, 2022 (one record date)	0.2800		15,949
September 30, 2022 (one record date)	0.3100		17,604
December 31, 2022 (two record dates)	0.5800		32,074
Total distributions for the year ended December 31, 2022	$	1.4500	$	81,575
2023
March 31, 2023 (one record date)	$	0.3400	$	18,687
June 30, 2023 (one record date)	0.3400		18,614
Total distributions for the six months ended June 30, 2023	$	0.6800	$	37,301

Schedule of Repurchases of Shares

The following table below provides information concerning the Company’s repurchases of shares of its common stock in the open market during the three months ended June 30, 2023 pursuant to the New DRP in order to satisfy the reinvestment portion of the Company’s distributions:

Period	Total Number of Shares Purchased	Average Price Paid per Share		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	Maximum Number of Shares That May Yet Be Purchased Under the Plans or Programs
April 1 to April 30, 2023	—	$	—	—	—
May 1 to May 31, 2023	—	—		—	—
June 1 to June 30, 2023	174,424	10.71		174,424	(1)
Total	174,424	$	10.71	174,424	(1)

(1) See description above.

Schedule of Common Stock on Distributions

The following table reflects the sources of distributions on a GAAP basis that the Company has declared on its shares of common stock during the six months ended June 30, 2023 and 2022 and the year ended December 31, 2022:

	Six Months Ended June 30,												Year Ended December 31,
	2023						2022						2022
Source of Distribution	Per Share		Amount		Percentage		Per Share		Amount		Percentage		Per Share		Amount		Percentage
Net investment income	$	0.6800	$	37,301	100.0	%	$	0.5600	$	31,897	100.0	%	$	1.4500	$	81,575	100.0	%
Total distributions	$	0.6800	$	37,301	100.0	%	$	0.5600	$	31,897	100.0	%	$	1.4500	$	81,575	100.0	%

Schedule of Investment Income, Accumulated Earnings (Loss)

The tax components of accumulated earnings or losses for the current year will be determined at year end. As of December 31, 2022, the components of accumulated losses on a tax basis were as follows:

	December 31, 2022
Undistributed ordinary income	$	8,543
Other accumulated losses(1)	(77,942)
Net unrealized depreciation on investments	(91,091)
Total accumulated losses	$	(160,490)

(1)Includes short term capital loss carryforwards of $7,233 and long term capital loss carryforwards of $66,284.

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Investments (Tables)

6 Months Ended

Jun. 30, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of Investments

The composition of the Company’s investment portfolio as of June 30, 2023 and December 31, 2022 at amortized cost and fair value was as follows:

	June 30, 2023						December 31, 2022
	Cost(1)		Fair Value		Percentage of Investment Portfolio		Cost(1)		Fair Value		Percentage of Investment Portfolio
Senior secured first lien debt	$	1,546,799	$	1,468,630	87.0	%	$	1,638,995	$	1,579,512	90.3	%
Senior secured second lien debt	41,153		39,544		2.3	%	41,036		38,769		2.2	%
Collateralized securities and structured products - equity	2,510		1,046		0.1	%	2,687		1,179		0.1	%
Unsecured debt	34,635		17,301		1.0	%	30,427		22,643		1.3	%
Equity	139,145		161,170		9.6	%	79,595		107,058		6.1	%
Subtotal/total percentage	1,764,242		1,687,691		100.0	%	1,792,740		1,749,161		100.0	%
Short term investments(2)	100,771		100,771				10,869		10,869
Total investments	$	1,865,013	$	1,788,462			$	1,803,609	$	1,760,030

(1)Cost represents the original cost adjusted for the amortization of premiums and/or accretion of discounts, as applicable, for debt investments and cost for equity investments.

(2)Short term investments represent an investment in a fund that invests in highly liquid investments with average original maturity dates of three months or less.

The following tables show the composition of the Company’s investment portfolio by industry classification and geographic dispersion, and the percentage, by fair value, of the total investment portfolio assets in such industries and geographies as of June 30, 2023 and December 31, 2022:

	June 30, 2023				December 31, 2022
Industry Classification	Investments at Fair Value		Percentage of Investment Portfolio		Investments at Fair Value		Percentage of Investment Portfolio
Services: Business	$	302,710	18.0	%	$	336,055	19.2	%
Healthcare & Pharmaceuticals	236,791		14.0	%	237,082		13.6	%
Media: Diversified & Production	122,742		7.3	%	134,927		7.7	%
Media: Advertising, Printing & Publishing	110,139		6.5	%	105,375		6.0	%
Services: Consumer	105,328		6.3	%	115,849		6.6	%
Diversified Financials	81,052		4.8	%	99,819		5.7	%
Construction & Building	71,133		4.2	%	46,007		2.6	%
Chemicals, Plastics & Rubber	67,947		4.0	%	66,753		3.8	%
Energy: Oil & Gas	66,248		3.9	%	68,756		3.9	%
Retail	63,042		3.8	%	74,718		4.3	%
Consumer Goods: Durable	61,172		3.6	%	60,735		3.5	%
Hotel, Gaming & Leisure	60,211		3.6	%	46,739		2.7	%
High Tech Industries	52,664		3.1	%	56,501		3.2	%
Beverage, Food & Tobacco	51,337		3.0	%	45,396		2.6	%
Capital Equipment	46,606		2.8	%	41,580		2.4	%
Consumer Goods: Non-Durable	43,003		2.5	%	47,886		2.8	%
Banking, Finance, Insurance & Real Estate	36,139		2.1	%	43,836		2.5	%
Containers, Packaging & Glass	19,453		1.2	%	19,551		1.1	%
Telecommunications	18,315		1.1	%	18,302		1.1	%
Automotive	16,231		1.0	%	16,255		0.9	%
Metals & Mining	15,781		0.9	%	15,780		0.9	%
Environmental Industries	14,722		0.9	%	—		—
Aerospace & Defense	12,627		0.7	%	38,842		2.2	%
Transportation: Cargo	12,298		0.7	%	12,417		0.7	%
Subtotal/total percentage	1,687,691		100.0	%	1,749,161		100.0	%
Short term investments	100,771				10,869
Total investments	$	1,788,462			$	1,760,030

	June 30, 2023				December 31, 2022
Geographic Dispersion(1)	Investments at Fair Value		Percentage of Investment Portfolio		Investments at Fair Value		Percentage of Investment Portfolio
United States	$	1,675,076	99.3	%	$	1,739,866	99.5	%
Canada	10,682		0.5	%	7,452		0.4	%
Cayman Islands	1,046		0.1	%	1,179		0.1	%
Bermuda	887		0.1	%	664		—
Subtotal/total percentage	1,687,691		100.0	%	1,749,161		100.0	%
Short term investments	100,771				10,869
Total investments	$	1,788,462			$	1,760,030

(1)The geographic dispersion is determined by the portfolio company's country of domicile.

The following table sets forth the individual investments in CION/EagleTree's portfolio as of June 30, 2023:

Portfolio Company	Interest(a)	Maturity	Industry	Principal/ Par Amount/ Units		Cost(b)		Fair Value
Senior Secured First Lien Debt
Berlitz Holdings, Inc.(g)	S+900, 1.00% SOFR Floor	2/14/2025	Services: Business	$	1,200	$	1,141	$	1,167
Community Tree Service, LLC(h)	S+1100, 1.00% SOFR Floor	6/17/2027	Construction & Building	460		460		452
Future Pak, LLC(g)	S+1000, 2.00% SOFR Floor	7/2/2024	Healthcare & Pharmaceuticals	1,162		1,155		1,162
Total Senior Secured First Lien Debt						2,756		2,781
Senior Secured Second Lien Debt
Access CIG, LLC(f)	L+775, 0.00% LIBOR Floor	2/27/2026	Services: Business	7,250		7,225		7,105
MedPlast Holdings, Inc.(e)	L+775, 0.00% LIBOR Floor	7/2/2026	Healthcare & Pharmaceuticals	6,750		6,206		6,539
Total Senior Secured Second Lien Debt						13,431		13,644
Collateralized Securities and Structured Products - Equity
Ivy Hill Middle Market Credit Fund VIII, Ltd. Subordinated Loan(c)	11.84% Estimated Yield	2/2/2026	Diversified Financials	10,000		9,796		9,263
Total Collateralized Securities and Structured Products - Equity						9,796		9,263
Equity
American Clinical Solutions LLC, Class A Membership Interests(d)			Healthcare & Pharmaceuticals	6,030,384 Units		5,200		5,910
Anthem Sports and Entertainment Inc., Class A Preferred Stock Warrants(d)			Media: Diversified & Production	1,469 Units		486		1,553
Anthem Sports and Entertainment Inc., Class B Preferred Stock Warrants(d)			Media: Diversified & Production	255 Units		—		171
Anthem Sports and Entertainment Inc., Common Stock Warrants(d)			Media: Diversified & Production	4,746 Units		—		96
BCP Great Lakes II - Series A Holdings LP, Partnership Interests (4.2% ownership)			Diversified Financials	N/A		13,100		12,672
Carestream Health Holdings, Inc., Common Stock(d)			Healthcare & Pharmaceuticals	613,262 Units		21,759		20,716
CHC Medical Partners, Inc., Series C Preferred Stock, 12% Dividend			Healthcare & Pharmaceuticals	2,727,273 Units		8,055		9,321
CTS Ultimate Holdings LLC, Class A Preferred Units(d)			Construction & Building	3,578,701 Units		1,000		608
Dayton HoldCo, LLC, Membership Units(d)			Construction & Building	37,264 Units		8,400		14,537
HDNet Holdco LLC, Preferred Unit Call Option(d)			Media: Diversified & Production	1 Unit		—		100
HW Ultimate Holdings, LP, Class A Membership Units, 4% Dividend(i)			Capital Equipment	2,000,000 Units		2,082		—
Language Education Holdings GP LLC, Common Units(d)			Services: Business	133,333 Units		—		—
Language Education Holdings LP, Ordinary Common Units(d)			Services: Business	133,333 Units		300		495
Skillsoft Corp., Class A Common Stock(d)			High Tech Industries	243,425 Units		2,000		302
Spinal USA, Inc. / Precision Medical Inc., Warrants(d)			Healthcare & Pharmaceuticals	20,667,324 Units		—		—
Total Equity						62,382		66,481
Short Term Investments
First American Treasury Obligations Fund, Class Z Shares						1,443		1,443
Total Short Term Investments						1,443		1,443
TOTAL INVESTMENTS						$	89,808	$	93,612

a.The actual LIBOR rate for each loan listed may not be the applicable LIBOR rate as of June 30, 2023, as the loan may have been priced or repriced based on a LIBOR rate prior to or subsequent to June 30, 2023. The actual SOFR rate for each loan listed may not be the applicable SOFR rate as of June 30, 2023, as the loan may have been priced or repriced based on a SOFR rate prior to or subsequent to June 30, 2023.

b.Represents amortized cost for debt securities and cost for equity investments.

c.The CLO subordinated notes are considered equity positions in the CLO vehicles and are not rated. Equity investments are entitled to recurring distributions, which are generally equal to the remaining cash flow of the payments made by the underlying vehicle's securities less contractual payments to debt holders and expenses. The estimated yield indicated is based upon a current projection of the amount and timing of these recurring distributions and the estimated amount of repayment of principal upon termination. Such projections are periodically reviewed and adjusted, and the estimated yield may not ultimately be realized.

d.Non-income producing security.

e.The interest rate on these loans is subject to 1 month LIBOR, which as of June 30, 2023 was 5.22%.

f.The interest rate on these loans is subject to 3 month LIBOR, which as of June 30, 2023 was 5.54%.

g.The interest rate on these loans is subject to 1 month SOFR, which as of June 30, 2023 was 5.14%.

h.The interest rate on these loans is subject to 3 month SOFR, which as of June 30, 2023 was 5.27%.

i.Investment or a portion thereof was on non-accrual status as of June 30, 2023.

The following table sets forth the individual investments in CION/EagleTree's portfolio as of December 31, 2022:

Portfolio Company	Interest(a)	Maturity	Industry	Principal/ Par Amount/ Units		Cost(b)		Fair Value
Senior Secured First Lien Debt
Berlitz Holdings, Inc.(g)	S+900, 1.00% SOFR Floor	2/14/2025	Services: Business	$	1,200	$	1,125	$	1,146
Community Tree Service, LLC(h)	S+850, 1.00% SOFR Floor	6/17/2027	Construction & Building	499		499		489
Future Pak, LLC(e)	L+800, 2.00% LIBOR Floor	7/2/2024	Healthcare & Pharmaceuticals	1,395		1,382		1,372
Total Senior Secured First Lien Debt						3,006		3,007
Senior Secured Second Lien Debt
Access CIG, LLC(f)	L+775, 0.00% LIBOR Floor	2/27/2026	Services: Business	7,250		7,220		6,933
Dayton Superior Corp.(e)	L+700, 2.00% LIBOR Floor	12/4/2024	Construction & Building	1,010		1,010		1,007
MedPlast Holdings, Inc.(e)	L+775, 0.00% LIBOR Floor	7/2/2026	Healthcare & Pharmaceuticals	6,750		6,135		6,337
Zest Acquisition Corp.(e)	L+700, 1.00% LIBOR Floor	3/14/2026	Healthcare & Pharmaceuticals	15,000		14,820		14,175
Total Senior Secured Second Lien Debt						29,185		28,452
Collateralized Securities and Structured Products - Equity
Ivy Hill Middle Market Credit Fund VIII, Ltd. Subordinated Loan(c)	11.84% Estimated Yield	2/2/2026	Diversified Financials	10,000		9,874		9,523
Total Collateralized Securities and Structured Products - Equity						9,874		9,523
Equity
American Clinical Solutions LLC, Class A Membership Interests(d)			Healthcare & Pharmaceuticals	6,030,384 Units		5,200		3,618
Anthem Sports and Entertainment Inc., Class A Preferred Stock Warrants(d)			Media: Diversified & Production	1,469 Units		486		1,881
Anthem Sports and Entertainment Inc., Class B Preferred Stock Warrants(d)			Media: Diversified & Production	255 Units		—		187
Anthem Sports and Entertainment Inc., Common Stock Warrants(d)			Media: Diversified & Production	4,746 Units		—		580
BCP Great Lakes II - Series A Holdings LP, Partnership Interests (4.2% ownership)			Diversified Financials	N/A		11,436		11,058
Carestream Health Holdings, Inc., Common Stock(d)			Healthcare & Pharmaceuticals	613,262 Units		21,759		21,544
CHC Medical Partners, Inc., Series C Preferred Stock, 12% Dividend			Healthcare & Pharmaceuticals	2,727,273 Units		7,891		8,877
CTS Ultimate Holdings LLC, Class A Preferred Units(d)			Construction & Building	3,578,701 Units		1,000		859
Dayton HoldCo, LLC, Membership Units(d)			Construction & Building	37,264 Units		8,400		15,334
HDNet Holdco LLC, Preferred Unit Call Option(d)			Media: Diversified & Production	1 Unit		—		185
HW Ultimate Holdings, LP, Class A Membership Units, 4% Dividend			Capital Equipment	2,000,000 Units		2,082		130
Language Education Holdings GP LLC, Common Units(d)			Services: Business	133,333 Units		—		—
Language Education Holdings LP, Ordinary Common Units(d)			Services: Business	133,333 Units		300		427
Skillsoft Corp., Class A Common Stock(d)			High Tech Industries	243,425 Units		2,000		316
Spinal USA, Inc. / Precision Medical Inc., Warrants(d)			Healthcare & Pharmaceuticals	20,667,324 Units		—		—
Total Equity						60,554		64,996
TOTAL INVESTMENTS						$	102,619	$	105,978

a.The actual LIBOR rate for each loan listed may not be the applicable LIBOR rate as of December 31, 2022, as the loan may have been priced or repriced based on a LIBOR rate prior to or subsequent to December 31, 2022. The actual SOFR rate for each loan listed may not be the applicable SOFR rate as of December 31, 2022, as the loan may have been priced or repriced based on a SOFR rate prior to or subsequent to December 31, 2022.

b.Represents amortized cost for debt securities and cost for equity investments.

c.The CLO subordinated notes are considered equity positions in the CLO vehicles and are not rated. Equity investments are entitled to recurring distributions, which are generally equal to the remaining cash flow of the payments made by the underlying vehicle's securities less contractual payments to debt holders and expenses. The estimated yield indicated is based upon a current projection of the amount and timing of these recurring distributions and the estimated amount of repayment of principal upon termination. Such projections are periodically reviewed and adjusted, and the estimated yield may not ultimately be realized.

d.Non-income producing security.

e.The interest rate on these loans is subject to 1 month LIBOR, which as of December 31, 2022 was 4.39%.

f.The interest rate on these loans is subject to 3 month LIBOR, which as of December 31, 2022 was 4.77%.

g.The interest rate on these loans is subject to 1 month SOFR, which as of December 31, 2022 was 4.36%.

h.The interest rate on these loans is subject to 3 month SOFR, which as of December 31, 2022 was 4.59%.

The following table includes selected balance sheet information for CION/EagleTree as of June 30, 2023 and December 31, 2022:

Selected Balance Sheet Information:	June 30, 2023		December 31, 2022
Investments, at fair value (amortized cost of $89,808 and $102,619, respectively)	$	93,612	$	105,978
Cash and other assets	—		2,476
Dividend receivable on investments	479		225
Interest receivable on investments	284		301
Total assets	$	94,375	$	108,980
Senior secured notes (net of unamortized debt issuance costs of $82 and $94, respectively)	$	64,420	$	70,904
Other liabilities	333		1,881
Total liabilities	64,753		72,785
Members' capital	29,622		36,195
Total liabilities and members' capital	$	94,375	$	108,980

The following table includes selected statement of operations information for CION/EagleTree for the three and six months ended June 30, 2023 and 2022 and for the year ended December 31, 2022:

	Three Months Ended June 30,				Six Months Ended June 30,				Year Ended December 31,
Selected Statement of Operations Information:	2023		2022		2023		2022		2022
Total revenues	$	1,468	$	1,839	$	3,063	$	3,723	$	9,653
Total expenses	2,566		2,802		5,258		5,522		11,120
Net realized gain on investments	—		—		176		—		9,947
Net change in unrealized appreciation (depreciation) on investments	409		(695)		446		(153)		(5,839)
Net (decrease) increase in net assets	$	(689)	$	(1,658)	$	(1,573)	$	(1,952)	$	2,641

XML

Joint Ventures (Tables)

6 Months Ended

Jun. 30, 2023

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Investments

The composition of the Company’s investment portfolio as of June 30, 2023 and December 31, 2022 at amortized cost and fair value was as follows:

	June 30, 2023						December 31, 2022
	Cost(1)		Fair Value		Percentage of Investment Portfolio		Cost(1)		Fair Value		Percentage of Investment Portfolio
Senior secured first lien debt	$	1,546,799	$	1,468,630	87.0	%	$	1,638,995	$	1,579,512	90.3	%
Senior secured second lien debt	41,153		39,544		2.3	%	41,036		38,769		2.2	%
Collateralized securities and structured products - equity	2,510		1,046		0.1	%	2,687		1,179		0.1	%
Unsecured debt	34,635		17,301		1.0	%	30,427		22,643		1.3	%
Equity	139,145		161,170		9.6	%	79,595		107,058		6.1	%
Subtotal/total percentage	1,764,242		1,687,691		100.0	%	1,792,740		1,749,161		100.0	%
Short term investments(2)	100,771		100,771				10,869		10,869
Total investments	$	1,865,013	$	1,788,462			$	1,803,609	$	1,760,030

(1)Cost represents the original cost adjusted for the amortization of premiums and/or accretion of discounts, as applicable, for debt investments and cost for equity investments.

(2)Short term investments represent an investment in a fund that invests in highly liquid investments with average original maturity dates of three months or less.

The following tables show the composition of the Company’s investment portfolio by industry classification and geographic dispersion, and the percentage, by fair value, of the total investment portfolio assets in such industries and geographies as of June 30, 2023 and December 31, 2022:

	June 30, 2023				December 31, 2022
Industry Classification	Investments at Fair Value		Percentage of Investment Portfolio		Investments at Fair Value		Percentage of Investment Portfolio
Services: Business	$	302,710	18.0	%	$	336,055	19.2	%
Healthcare & Pharmaceuticals	236,791		14.0	%	237,082		13.6	%
Media: Diversified & Production	122,742		7.3	%	134,927		7.7	%
Media: Advertising, Printing & Publishing	110,139		6.5	%	105,375		6.0	%
Services: Consumer	105,328		6.3	%	115,849		6.6	%
Diversified Financials	81,052		4.8	%	99,819		5.7	%
Construction & Building	71,133		4.2	%	46,007		2.6	%
Chemicals, Plastics & Rubber	67,947		4.0	%	66,753		3.8	%
Energy: Oil & Gas	66,248		3.9	%	68,756		3.9	%
Retail	63,042		3.8	%	74,718		4.3	%
Consumer Goods: Durable	61,172		3.6	%	60,735		3.5	%
Hotel, Gaming & Leisure	60,211		3.6	%	46,739		2.7	%
High Tech Industries	52,664		3.1	%	56,501		3.2	%
Beverage, Food & Tobacco	51,337		3.0	%	45,396		2.6	%
Capital Equipment	46,606		2.8	%	41,580		2.4	%
Consumer Goods: Non-Durable	43,003		2.5	%	47,886		2.8	%
Banking, Finance, Insurance & Real Estate	36,139		2.1	%	43,836		2.5	%
Containers, Packaging & Glass	19,453		1.2	%	19,551		1.1	%
Telecommunications	18,315		1.1	%	18,302		1.1	%
Automotive	16,231		1.0	%	16,255		0.9	%
Metals & Mining	15,781		0.9	%	15,780		0.9	%
Environmental Industries	14,722		0.9	%	—		—
Aerospace & Defense	12,627		0.7	%	38,842		2.2	%
Transportation: Cargo	12,298		0.7	%	12,417		0.7	%
Subtotal/total percentage	1,687,691		100.0	%	1,749,161		100.0	%
Short term investments	100,771				10,869
Total investments	$	1,788,462			$	1,760,030

	June 30, 2023				December 31, 2022
Geographic Dispersion(1)	Investments at Fair Value		Percentage of Investment Portfolio		Investments at Fair Value		Percentage of Investment Portfolio
United States	$	1,675,076	99.3	%	$	1,739,866	99.5	%
Canada	10,682		0.5	%	7,452		0.4	%
Cayman Islands	1,046		0.1	%	1,179		0.1	%
Bermuda	887		0.1	%	664		—
Subtotal/total percentage	1,687,691		100.0	%	1,749,161		100.0	%
Short term investments	100,771				10,869
Total investments	$	1,788,462			$	1,760,030

(1)The geographic dispersion is determined by the portfolio company's country of domicile.

The following table sets forth the individual investments in CION/EagleTree's portfolio as of June 30, 2023:

Portfolio Company	Interest(a)	Maturity	Industry	Principal/ Par Amount/ Units		Cost(b)		Fair Value
Senior Secured First Lien Debt
Berlitz Holdings, Inc.(g)	S+900, 1.00% SOFR Floor	2/14/2025	Services: Business	$	1,200	$	1,141	$	1,167
Community Tree Service, LLC(h)	S+1100, 1.00% SOFR Floor	6/17/2027	Construction & Building	460		460		452
Future Pak, LLC(g)	S+1000, 2.00% SOFR Floor	7/2/2024	Healthcare & Pharmaceuticals	1,162		1,155		1,162
Total Senior Secured First Lien Debt						2,756		2,781
Senior Secured Second Lien Debt
Access CIG, LLC(f)	L+775, 0.00% LIBOR Floor	2/27/2026	Services: Business	7,250		7,225		7,105
MedPlast Holdings, Inc.(e)	L+775, 0.00% LIBOR Floor	7/2/2026	Healthcare & Pharmaceuticals	6,750		6,206		6,539
Total Senior Secured Second Lien Debt						13,431		13,644
Collateralized Securities and Structured Products - Equity
Ivy Hill Middle Market Credit Fund VIII, Ltd. Subordinated Loan(c)	11.84% Estimated Yield	2/2/2026	Diversified Financials	10,000		9,796		9,263
Total Collateralized Securities and Structured Products - Equity						9,796		9,263
Equity
American Clinical Solutions LLC, Class A Membership Interests(d)			Healthcare & Pharmaceuticals	6,030,384 Units		5,200		5,910
Anthem Sports and Entertainment Inc., Class A Preferred Stock Warrants(d)			Media: Diversified & Production	1,469 Units		486		1,553
Anthem Sports and Entertainment Inc., Class B Preferred Stock Warrants(d)			Media: Diversified & Production	255 Units		—		171
Anthem Sports and Entertainment Inc., Common Stock Warrants(d)			Media: Diversified & Production	4,746 Units		—		96
BCP Great Lakes II - Series A Holdings LP, Partnership Interests (4.2% ownership)			Diversified Financials	N/A		13,100		12,672
Carestream Health Holdings, Inc., Common Stock(d)			Healthcare & Pharmaceuticals	613,262 Units		21,759		20,716
CHC Medical Partners, Inc., Series C Preferred Stock, 12% Dividend			Healthcare & Pharmaceuticals	2,727,273 Units		8,055		9,321
CTS Ultimate Holdings LLC, Class A Preferred Units(d)			Construction & Building	3,578,701 Units		1,000		608
Dayton HoldCo, LLC, Membership Units(d)			Construction & Building	37,264 Units		8,400		14,537
HDNet Holdco LLC, Preferred Unit Call Option(d)			Media: Diversified & Production	1 Unit		—		100
HW Ultimate Holdings, LP, Class A Membership Units, 4% Dividend(i)			Capital Equipment	2,000,000 Units		2,082		—
Language Education Holdings GP LLC, Common Units(d)			Services: Business	133,333 Units		—		—
Language Education Holdings LP, Ordinary Common Units(d)			Services: Business	133,333 Units		300		495
Skillsoft Corp., Class A Common Stock(d)			High Tech Industries	243,425 Units		2,000		302
Spinal USA, Inc. / Precision Medical Inc., Warrants(d)			Healthcare & Pharmaceuticals	20,667,324 Units		—		—
Total Equity						62,382		66,481
Short Term Investments
First American Treasury Obligations Fund, Class Z Shares						1,443		1,443
Total Short Term Investments						1,443		1,443
TOTAL INVESTMENTS						$	89,808	$	93,612

a.The actual LIBOR rate for each loan listed may not be the applicable LIBOR rate as of June 30, 2023, as the loan may have been priced or repriced based on a LIBOR rate prior to or subsequent to June 30, 2023. The actual SOFR rate for each loan listed may not be the applicable SOFR rate as of June 30, 2023, as the loan may have been priced or repriced based on a SOFR rate prior to or subsequent to June 30, 2023.

b.Represents amortized cost for debt securities and cost for equity investments.

c.The CLO subordinated notes are considered equity positions in the CLO vehicles and are not rated. Equity investments are entitled to recurring distributions, which are generally equal to the remaining cash flow of the payments made by the underlying vehicle's securities less contractual payments to debt holders and expenses. The estimated yield indicated is based upon a current projection of the amount and timing of these recurring distributions and the estimated amount of repayment of principal upon termination. Such projections are periodically reviewed and adjusted, and the estimated yield may not ultimately be realized.

d.Non-income producing security.

e.The interest rate on these loans is subject to 1 month LIBOR, which as of June 30, 2023 was 5.22%.

f.The interest rate on these loans is subject to 3 month LIBOR, which as of June 30, 2023 was 5.54%.

g.The interest rate on these loans is subject to 1 month SOFR, which as of June 30, 2023 was 5.14%.

h.The interest rate on these loans is subject to 3 month SOFR, which as of June 30, 2023 was 5.27%.

i.Investment or a portion thereof was on non-accrual status as of June 30, 2023.

The following table sets forth the individual investments in CION/EagleTree's portfolio as of December 31, 2022:

Portfolio Company	Interest(a)	Maturity	Industry	Principal/ Par Amount/ Units		Cost(b)		Fair Value
Senior Secured First Lien Debt
Berlitz Holdings, Inc.(g)	S+900, 1.00% SOFR Floor	2/14/2025	Services: Business	$	1,200	$	1,125	$	1,146
Community Tree Service, LLC(h)	S+850, 1.00% SOFR Floor	6/17/2027	Construction & Building	499		499		489
Future Pak, LLC(e)	L+800, 2.00% LIBOR Floor	7/2/2024	Healthcare & Pharmaceuticals	1,395		1,382		1,372
Total Senior Secured First Lien Debt						3,006		3,007
Senior Secured Second Lien Debt
Access CIG, LLC(f)	L+775, 0.00% LIBOR Floor	2/27/2026	Services: Business	7,250		7,220		6,933
Dayton Superior Corp.(e)	L+700, 2.00% LIBOR Floor	12/4/2024	Construction & Building	1,010		1,010		1,007
MedPlast Holdings, Inc.(e)	L+775, 0.00% LIBOR Floor	7/2/2026	Healthcare & Pharmaceuticals	6,750		6,135		6,337
Zest Acquisition Corp.(e)	L+700, 1.00% LIBOR Floor	3/14/2026	Healthcare & Pharmaceuticals	15,000		14,820		14,175
Total Senior Secured Second Lien Debt						29,185		28,452
Collateralized Securities and Structured Products - Equity
Ivy Hill Middle Market Credit Fund VIII, Ltd. Subordinated Loan(c)	11.84% Estimated Yield	2/2/2026	Diversified Financials	10,000		9,874		9,523
Total Collateralized Securities and Structured Products - Equity						9,874		9,523
Equity
American Clinical Solutions LLC, Class A Membership Interests(d)			Healthcare & Pharmaceuticals	6,030,384 Units		5,200		3,618
Anthem Sports and Entertainment Inc., Class A Preferred Stock Warrants(d)			Media: Diversified & Production	1,469 Units		486		1,881
Anthem Sports and Entertainment Inc., Class B Preferred Stock Warrants(d)			Media: Diversified & Production	255 Units		—		187
Anthem Sports and Entertainment Inc., Common Stock Warrants(d)			Media: Diversified & Production	4,746 Units		—		580
BCP Great Lakes II - Series A Holdings LP, Partnership Interests (4.2% ownership)			Diversified Financials	N/A		11,436		11,058
Carestream Health Holdings, Inc., Common Stock(d)			Healthcare & Pharmaceuticals	613,262 Units		21,759		21,544
CHC Medical Partners, Inc., Series C Preferred Stock, 12% Dividend			Healthcare & Pharmaceuticals	2,727,273 Units		7,891		8,877
CTS Ultimate Holdings LLC, Class A Preferred Units(d)			Construction & Building	3,578,701 Units		1,000		859
Dayton HoldCo, LLC, Membership Units(d)			Construction & Building	37,264 Units		8,400		15,334
HDNet Holdco LLC, Preferred Unit Call Option(d)			Media: Diversified & Production	1 Unit		—		185
HW Ultimate Holdings, LP, Class A Membership Units, 4% Dividend			Capital Equipment	2,000,000 Units		2,082		130
Language Education Holdings GP LLC, Common Units(d)			Services: Business	133,333 Units		—		—
Language Education Holdings LP, Ordinary Common Units(d)			Services: Business	133,333 Units		300		427
Skillsoft Corp., Class A Common Stock(d)			High Tech Industries	243,425 Units		2,000		316
Spinal USA, Inc. / Precision Medical Inc., Warrants(d)			Healthcare & Pharmaceuticals	20,667,324 Units		—		—
Total Equity						60,554		64,996
TOTAL INVESTMENTS						$	102,619	$	105,978

a.The actual LIBOR rate for each loan listed may not be the applicable LIBOR rate as of December 31, 2022, as the loan may have been priced or repriced based on a LIBOR rate prior to or subsequent to December 31, 2022. The actual SOFR rate for each loan listed may not be the applicable SOFR rate as of December 31, 2022, as the loan may have been priced or repriced based on a SOFR rate prior to or subsequent to December 31, 2022.

b.Represents amortized cost for debt securities and cost for equity investments.

c.The CLO subordinated notes are considered equity positions in the CLO vehicles and are not rated. Equity investments are entitled to recurring distributions, which are generally equal to the remaining cash flow of the payments made by the underlying vehicle's securities less contractual payments to debt holders and expenses. The estimated yield indicated is based upon a current projection of the amount and timing of these recurring distributions and the estimated amount of repayment of principal upon termination. Such projections are periodically reviewed and adjusted, and the estimated yield may not ultimately be realized.

d.Non-income producing security.

e.The interest rate on these loans is subject to 1 month LIBOR, which as of December 31, 2022 was 4.39%.

f.The interest rate on these loans is subject to 3 month LIBOR, which as of December 31, 2022 was 4.77%.

g.The interest rate on these loans is subject to 1 month SOFR, which as of December 31, 2022 was 4.36%.

h.The interest rate on these loans is subject to 3 month SOFR, which as of December 31, 2022 was 4.59%.

The following table includes selected balance sheet information for CION/EagleTree as of June 30, 2023 and December 31, 2022:

Selected Balance Sheet Information:	June 30, 2023		December 31, 2022
Investments, at fair value (amortized cost of $89,808 and $102,619, respectively)	$	93,612	$	105,978
Cash and other assets	—		2,476
Dividend receivable on investments	479		225
Interest receivable on investments	284		301
Total assets	$	94,375	$	108,980
Senior secured notes (net of unamortized debt issuance costs of $82 and $94, respectively)	$	64,420	$	70,904
Other liabilities	333		1,881
Total liabilities	64,753		72,785
Members' capital	29,622		36,195
Total liabilities and members' capital	$	94,375	$	108,980

The following table includes selected statement of operations information for CION/EagleTree for the three and six months ended June 30, 2023 and 2022 and for the year ended December 31, 2022:

	Three Months Ended June 30,				Six Months Ended June 30,				Year Ended December 31,
Selected Statement of Operations Information:	2023		2022		2023		2022		2022
Total revenues	$	1,468	$	1,839	$	3,063	$	3,723	$	9,653
Total expenses	2,566		2,802		5,258		5,522		11,120
Net realized gain on investments	—		—		176		—		9,947
Net change in unrealized appreciation (depreciation) on investments	409		(695)		446		(153)		(5,839)
Net (decrease) increase in net assets	$	(689)	$	(1,658)	$	(1,573)	$	(1,952)	$	2,641

XML

Financing Arrangements (Tables)

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Schedule of Debt

The following table presents summary information with respect to the Company’s outstanding financing arrangements as of June 30, 2023: 

Financing Arrangement	Type of Financing Arrangement	Rate	Amount Outstanding		Amount Available		Maturity Date
JPM Credit Facility	Term Loan Credit Facility	SOFR+3.20%	$	600,000	$	75,000	May 15, 2025
2026 Notes(1)	Note Purchase Agreement	4.50%	125,000		—		February 11, 2026
UBS Facility	Repurchase Agreement	SOFR+3.525%	100,000		50,000		November 19, 2024
Series A Notes	Israel Public Bond Offering	SOFR+3.82%	80,712		—		August 31, 2026
2022 More Term Loan	Term Loan Facility Agreement	SOFR+3.50%	50,000		—		April 27, 2027
2021 More Term Loan(2)	Term Loan Facility Agreement	5.20%	30,000		—		September 30, 2024
			$	985,712	$	125,000

(1)As of June 30, 2023, the fair value of the 2026 Notes was $122,500, which was based on a yield analysis and discount rate commensurate with the market yields for similar types of debt. The fair value of these debt obligations would be categorized as Level 3 under ASC 820 as of June 30, 2023.

(2)As of June 30, 2023, the fair value of the 2021 More Term Loan was $29,513, which was based on a yield analysis and discount rate commensurate with the market yields for similar types of debt. The fair value of these debt obligations would be categorized as Level 3 under ASC 820 as of June 30, 2023.

For the three and six months ended June 30, 2023 and 2022 and the year ended December 31, 2022, the components of interest expense, average borrowings, and weighted average interest rate for the JPM Second Amendment and the Third Amended JPM Credit Facility were as follows:

	Three Months Ended June 30,						Six Months Ended June 30,						Year Ended December 31,
	2023			2022			2023			2022			2022
Stated interest expense	$	12,385		$	6,056		$	24,375		$	10,763		$	29,254
Amortization of deferred financing costs	532			571			1,096			1,061			2,214
Non-usage fee	189			193			360			263			617
Total interest expense	$	13,106		$	6,820		$	25,831		$	12,087		$	32,085
Weighted average interest rate(1)	8.30		%	4.12		%	8.16		%	3.81		%	4.99		%
Average borrowings	$	600,000		$	598,571		$	603,315		$	575,083		$	590,603

(1)Includes the stated interest expense and non-usage fee on the unused portion of the JPM Second Amendment and the Third Amended JPM Credit Facility and is annualized for periods covering less than one year.

For the three and six months ended June 30, 2023 and 2022 and for the year ended December 31, 2022, the components of interest expense, average borrowings, and weighted average interest rate for the 2026 Notes were as follows:

	Three Months Ended June 30,						Six Months Ended June 30,						Year Ended December 31, 2022
	2023			2022			2023			2022
Stated interest expense	$	1,406		$	1,422		$	2,812		$	2,828		$	5,600
Amortization of deferred financing costs	133			133			264			264			533
Total interest expense	$	1,539		$	1,555		$	3,076		$	3,092		$	6,133
Weighted average interest rate(1)	4.50		%	4.50		%	4.50		%	4.50		%	4.50		%
Average borrowings	$	125,000		$	125,000		$	125,000		$	125,000		$	125,000

(1)Includes the stated interest expense on the 2026 Notes and is annualized for periods covering less than one year.

For the three and six months ended June 30, 2023 and 2022 and the year ended December 31, 2022, the components of interest expense, average borrowings, and weighted average interest rate for the Amended UBS Facility were as follows:

	Three Months Ended June 30,						Six Months Ended June 30,						Year Ended December 31,
	2023			2022			2023			2022			2022
Stated interest expense	$	2,162		$	1,533		$	4,966		$	2,680		$	7,273
Non-usage fee	89			21			112			68			96
Total interest expense	$	2,251		$	1,554		$	5,078		$	2,748		$	7,369
Weighted average interest rate(1)	8.62		%	4.42		%	8.39		%	4.14		%	5.29		%
Average borrowings	$	103,297		$	139,038		$	120,373		$	132,058		$	137,322

(1)Includes the stated interest expense and non-usage fee on the unused portion of the Amended UBS Facility and is annualized for periods covering less than one year.

For the three months ended June 30, 2023 and the period from February 28, 2023 through June 30, 2023, the components of interest expense, average borrowings, and weighted average interest rate for the Series A Notes were as follows:

	Three Months Ended June 30, 2023			For the Period From February 28, 2023 Through June 30, 2023
Stated interest expense	$	1,781		$	2,399
Amortization of deferred financing costs	212			290
Total interest expense	$	1,993		$	2,689
Weighted average interest rate(1)	8.73		%	8.73		%
Average borrowings	$	80,712		$	80,712

(1) Includes the stated interest expense on the Series A Notes and is annualized for periods covering less than one year.

For the three and six months ended June 30, 2023, for the period from April 27, 2022 through June 30, 2022 and for the period from April 27, 2022 through December 31, 2022, the components of interest expense, average borrowings, and weighted average interest rate for the 2022 More Term Loan were as follows:

	Three Months Ended June 30, 2023			Six Months Ended June 30, 2023			For the Period From April 27, 2022 Through June 30, 2022			For the Period From April 27, 2022 Through December 31, 2022
Stated interest expense	$	1,061		$	2,073		$	410		$	2,027
Amortization of deferred financing costs	51			102			36			140
Total interest expense	$	1,112		$	2,175		$	446		$	2,167
Weighted average interest rate(1)	8.40		%	8.25		%	4.54		%	5.86		%
Average borrowings	$	50,000		$	50,000		$	50,000		$	50,000

(1) Includes the stated interest expense on the 2022 More Term Loan and is annualized for periods covering less than one year.

For the three and six months ended June 30, 2023 and 2022 and the year ended December 31, 2022, the components of interest expense, average borrowings, and weighted average interest rate for the 2021 More Term Loan were as follows:

	Three Months Ended June 30,						Six Months Ended June 30,						Year Ended December 31, 2022
	2023			2022			2023			2022
Stated interest expense	$	394		$	394		$	784		$	784		$	1,582
Amortization of deferred financing costs	72			72			143			143			288
Total interest expense	$	466		$	466		$	927		$	927		$	1,870
Weighted average interest rate(1)	5.20		%	5.20		%	5.20		%	5.20		%	5.20		%
Average borrowings	$	30,000		$	30,000		$	30,000		$	30,000		$	30,000

(1) Includes the stated interest expense on the 2021 More Term Loan and is annualized for periods covering less than one year.

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Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Schedule of Portfolio Investments by Level in the Fair Value Hierarchy

The following table presents fair value measurements of the Company’s portfolio investments as of June 30, 2023 and December 31, 2022, according to the fair value hierarchy: 

	June 30, 2023(1)								December 31, 2022(2)
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Senior secured first lien debt	$	—	$	—	$	1,468,630	$	1,468,630	$	—	$	—	$	1,579,512	$	1,579,512
Senior secured second lien debt	—		—		39,544		39,544		—		—		38,769		38,769
Collateralized securities and structured products - equity	—		—		1,046		1,046		—		—		1,179		1,179
Unsecured debt	—		—		17,301		17,301		—		—		22,643		22,643
Equity	2,266		—		133,725		135,991		2,341		—		73,951		76,292
Short term investments	100,771		—		—		100,771		10,869		—		—		10,869
Total Investments	$	103,037	$	—	$	1,660,246	$	1,763,283	$	13,210	$	—	$	1,716,054	$	1,729,264

(1)Excludes the Company's $25,179 investment in CION/EagleTree, which is measured at NAV.

(2)Excludes the Company's $30,766 investment in CION/EagleTree, which is measured at NAV.

Schedule of Changes in Level 3 Portfolio Investments

The following tables provide a reconciliation of the beginning and ending balances for investments that use Level 3 inputs for the three and six months ended June 30, 2023 and 2022:

	Three Months Ended June 30, 2023
	Senior Secured First Lien Debt		Senior Secured Second Lien Debt		Collateralized Securities and Structured Products - Equity		Unsecured Debt		Equity		Total
Beginning balance, March 31, 2023	$	1,472,453	$	38,997	$	1,133	$	15,517	$	100,958	$	1,629,058
Investments purchased(2)(3)	77,961		—		—		4,200		29,396		111,557
Net realized loss	(13,163)		—		—		—		(5,765)		(18,928)
Net change in unrealized appreciation (depreciation)	16,708		496		9		(2,420)		9,136		23,929
Accretion of discount	2,541		56		—		4		—		2,601
Sales and principal repayments(3)	(87,870)		(5)		(96)		—		—		(87,971)
Ending balance, June 30, 2023	$	1,468,630	$	39,544	$	1,046	$	17,301	$	133,725	$	1,660,246
Change in net unrealized appreciation (depreciation) on investments still held as of June 30, 2023(1)	$	5,280	$	496	$	9	$	(2,420)	$	3,367	$	6,732

(1)Included in net change in unrealized appreciation (depreciation) on investments in the consolidated statements of operations.

(2)Investments purchased includes PIK interest.

(3)Includes non-cash restructured securities.

	Six Months Ended June 30, 2023
	Senior Secured First Lien Debt		Senior Secured Second Lien Debt		Collateralized Securities and Structured Products - Equity		Unsecured Debt		Equity		Total
Beginning balance, December 31, 2022	$	1,579,512	$	38,769	$	1,179	$	22,643	$	73,951	$	1,716,054
Investments purchased(2)(3)	118,713		—		—		4,200		65,329		188,242
Net realized loss	(17,674)		—		—				(5,779)		(23,453)
Net change in unrealized (depreciation) appreciation	(18,686)		659		44		(9,550)		224		(27,309)
Accretion of discount	6,810		125		—		8		—		6,943
Sales and principal repayments(3)	(200,045)		(9)		(177)		—		—		(200,231)
Ending balance, June 30, 2023	$	1,468,630	$	39,544	$	1,046	$	17,301	$	133,725	$	1,660,246
Change in net unrealized (depreciation) appreciation on investments still held as of June 30, 2023(1)	$	(22,169)	$	659	$	44	$	(9,550)	$	(15)	$	(31,031)

(1)Included in net change in unrealized appreciation (depreciation) on investments in the consolidated statements of operations.

(2)Investments purchased includes PIK interest.

(3)Includes non-cash restructured securities.

	Three Months Ended June 30, 2022
	Senior Secured First Lien Debt		Senior Secured Second Lien Debt		Collateralized Securities and Structured Products - Equity		Unsecured Debt		Equity		Total
Beginning balance, March 31, 2022	$	1,597,364	$	36,875	$	2,632	$	27,280	$	42,405	$	1,706,556
Investments purchased(2)	175,707		1,836		—		650		1,008		179,201
Net realized (loss) gain	(34)		10		—		—		204		180
Net change in unrealized (depreciation) appreciation	(21,144)		3,021		(176)		61		(229)		(18,467)
Accretion of discount	2,131		344		—		3		—		2,478
Sales and principal repayments	(93,196)		(15,000)		(854)		—		(503)		(109,553)
Ending balance, June 30, 2022	$	1,660,828	$	27,086	$	1,602	$	27,994	$	42,885	$	1,760,395
Change in net unrealized (depreciation) appreciation on investments still held as of June 30, 2022(1)	$	(21,519)	$	525	$	(176)	$	61	$	(229)	$	(21,338)

(1)Included in net change in unrealized appreciation (depreciation) on investments in the consolidated statements of operations.

(2)Investments purchased includes PIK interest.

	Six Months Ended June 30, 2022
	Senior Secured First Lien Debt		Senior Secured Second Lien Debt		Collateralized Securities and Structured Products - Equity		Unsecured Debt		Equity		Total
Beginning balance, December 31, 2021	$	1,526,989	$	38,583	$	2,998	$	26,616	$	37,736	$	1,632,922
Investments purchased(2)	317,499		1,836		—		1,273		2,133		322,741
Net realized (loss) gain	(107)		14		—		—		204		111
Net change in unrealized (depreciation) appreciation	(34,050)		1,221		(352)		98		3,315		(29,768)
Accretion of discount	4,535		432		—		7		—		4,974
Sales and principal repayments	(154,038)		(15,000)		(1,044)		—		(503)		(170,585)
Ending balance, June 30, 2022	$	1,660,828	$	27,086	$	1,602	$	27,994	$	42,885	$	1,760,395
Change in net unrealized (depreciation) appreciation on investments still held as of June 30, 2022(1)	$	(34,992)	$	873	$	(352)	$	98	$	3,315	$	(31,058)

(1)Included in net change in unrealized appreciation (depreciation) on investments in the consolidated statements of operations.

(2)Investments purchased includes PIK interest.

Schedule of Fair Value Measurement Inputs and Valuation Techniques

The valuation techniques and significant unobservable inputs used in recurring Level 3 fair value measurements of investments as of June 30, 2023 and December 31, 2022 were as follows:

	June 30, 2023
	Fair Value		Valuation Techniques/ Methodologies	Unobservable Inputs	Range			Weighted Average(1)
Senior secured first lien debt	$	1,281,080	Discounted Cash Flow	Discount Rates	7.5%	—	40.0%	13.8%
	110,747		Broker Quotes	Broker Quotes	N/A			N/A
	53,487		Market Comparable Approach	Revenue Multiple	0.17x	—	1.55x	1.00x
	19,036			EBITDA Multiple	4.00x	—	9.75x	6.15x
	3,794			$ per kW	$129.77			N/A
	486		Other(2)	Other(2)	N/A			N/A
Senior secured second lien debt	39,544		Discounted Cash Flow	Discount Rates	13.5%	—	20.5%	16.8%
Collateralized securities and structured products - equity	1,046		Discounted Cash Flow	Discount Rates	21.0%			N/A
Unsecured debt	9,888		Contingent Claims Analysis	Expected Volatility	110.0%			N/A
	7,413		Discounted Cash Flow	Discount Rates	16.5%			N/A
Equity	80,099		Market Comparable Approach	EBITDA Multiple	4.75x	—	14.75x	9.74x
	21,680			$ per kW	$400			N/A
	31,204			Revenue Multiple	0.13x	—	6.00x	1.05x
	742		Broker Quotes	Broker Quotes	N/A			N/A
Total	$	1,660,246

(1)Weighted average amounts are based on the estimated fair values.

(2)Fair value is based on the expected outcome of proposed corporate transactions and/or other factors.

	December 31, 2022
	Fair Value		Valuation Techniques/ Methodologies	Unobservable Inputs	Range			Weighted Average(1)
Senior secured first lien debt	$	1,471,816	Discounted Cash Flow	Discount Rates	6.5%	—	34.0%	14.7%
	79,035		Broker Quotes	Broker Quotes	N/A			N/A
	20,050		Market Comparable Approach	Revenue Multiple	0.25x	—	1.70x	1.19x
	4,527			$ per kW	$131.85			N/A
	3,552			EBITDA Multiple	2.75x	—	4.25x	4.09x
	532		Other(2)	Other(2)	N/A			N/A
Senior secured second lien debt	38,769		Discounted Cash Flow	Discount Rates	14.3%	—	21.5%	17.2%
Collateralized securities and structured products - equity	1,179		Discounted Cash Flow	Discount Rates	21.0%			N/A
Unsecured debt	15,316		Market Comparable Approach	EBITDA Multiple	9.25x			N/A
	7,327		Discounted Cash Flow	Discount Rates	17.7%			N/A
Equity	33,441		Market Comparable Approach	EBITDA Multiple	2.75x	—	14.55x	7.02x
	23,995			$ per kW	$412.5			N/A
	13,038			Revenue Multiple	0.13x	—	5.75x	2.93x
	2,238		Discounted Cash Flow	Discount Rates	16.8%			N/A
	1,234		Broker Quotes	Broker Quotes	N/A			N/A
	5		Options Pricing Model	Expected Volatility	80.0%	—	90.0%	87.3%
Total	$	1,716,054

(1)Weighted average amounts are based on the estimated fair values.

(2)Fair value is based on the expected outcome of proposed corporate transactions and/or other factors.

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General and Administrative Expense (Tables)

6 Months Ended

Jun. 30, 2023

General and Administrative Expense [Abstract]

Schedule of General And Administrative Expense

General and administrative expense consisted of the following items for the three and six months ended June 30, 2023 and 2022 and the year ended December 31, 2022:

	Three Months Ended June 30,				Six Months Ended June 30,				Year Ended December 31,
	2023		2022		2023		2022		2022
Professional fees	$	645	$	519	$	1,171	$	1,152	$	1,778
Transfer agent expense	279		303		547		594		1,124
Dues and subscriptions	44		80		473		615		791
Valuation expense	252		212		425		391		821
Director fees and expenses	179		161		348		315		632
Insurance expense	169		254		336		505		833
Accounting and administrative costs	158		145		324		302		524
Printing and marketing expense	269		28		274		33		708
Other expenses	79		10		131		27		67
Total general and administrative expense	$	2,074	$	1,712	$	4,029	$	3,934	$	7,278

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Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2023

Commitments and Contingencies Disclosure [Abstract]

Schedule of Other Commitments

As of June 30, 2023 and December 31, 2022, the Company’s unfunded commitments were as follows:

Unfunded Commitments	June 30, 2023(1)		December 31, 2022(1)
Cennox, Inc.	$	7,193	$	7,567
Flatworld Intermediate Corp.	5,865		5,865
Critical Nurse Staffing, LLC	5,439		5,599
Thrill Holdings LLC	5,000		3,261
Instant Web, LLC	3,574		5,628
American Health Staffing Group, Inc.	3,333		3,333
Mimeo.com, Inc.	2,500		3,000
Rogers Mechanical Contractors, LLC	2,404		3,365
Moss Holding Company	2,232		2,232
HW Acquisition, LLC	2,200		2,200
MacNeill Pride Group Corp.	2,017		2,017
Archer Systems, LLC	1,905		1,905
Bradshaw International Parent Corp.	1,844		1,844
Dermcare Management, LLC	1,683		1,862
Coyote Buyer, LLC	1,500		2,500
Sleep Opco, LLC	1,200		1,750
NWN Parent Holdings LLC	1,200		90
RA Outdoors, LLC	1,049		1,049
BDS Solutions Intermediateco, LLC	1,046		1,998
OpCo Borrower, LLC	1,042		833
Service Compression, LLC	907		4,186
Invincible Boat Company LLC	319		559
Ironhorse Purchaser, LLC	299		2,469
American Teleconferencing Services, Ltd.	235		235
H.W. Lochner, Inc.	225		225
Anthem Sports & Entertainment Inc.	167		167
Homer City Holdings LLC	—		3,000
RumbleOn, Inc.	—		1,775
WorkGenius, Inc.	—		750
STATinMED, LLC	—		156
Total	$	56,378	$	71,420

(1)Unless otherwise noted, the funding criteria for these unfunded commitments had not been met at the date indicated.

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Fee Income (Tables)

6 Months Ended

Jun. 30, 2023

Fee Income [Abstract]

Schedule of Fee Income

The following table summarizes the Company’s fee income for the three and six months ended June 30, 2023 and 2022 and the year ended December 31, 2022:

	Three Months Ended June 30,				Six Months Ended June 30,				Year Ended December 31,
	2023		2022		2023		2022		2022
Amendment fees	$	622	$	575	$	3,346	$	970	$	2,633
Capital structuring and other fees	532		1,992		532		3,014		4,446
Conversion fees	477		—		477		—		2,365
Commitment fees	—		—		309		—		—
Administrative agent fees	—		—		30		25		100
Total	$	1,631	$	2,567	$	4,694	$	4,009	$	9,544

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Financial Highlights (Tables)

6 Months Ended

Jun. 30, 2023

Investment Company [Abstract]

Schedule of Financial Highlights

The following is a schedule of financial highlights as of and for the six months ended June 30, 2023 and 2022 and the year ended December 31, 2022:

	Six Months Ended June 30,						Year Ended December 31,
	2023			2022			2022
Per share data:(1)
Net asset value at beginning of period	$	15.98		$	16.34		$	16.34
Results of operations:
Net investment income	0.97			0.68			1.56
Net realized loss and net change in unrealized depreciation on investments and loss on foreign currency(2)	(1.02)			(0.57)			(0.68)
Net (decrease) increase in net assets resulting from operations(2)	(0.05)			0.11			0.88
Shareholder distributions:
Distributions from net investment income	(0.68)			(0.56)			(1.44)
Net decrease in net assets resulting from shareholders' distributions	(0.68)			(0.56)			(1.44)
Capital share transactions:
Repurchases of common stock below net asset value(3)	0.06			—			0.20
Net increase in net assets resulting from capital share transactions	0.06			—			0.20
Net asset value at end of period	$	15.31		$	15.89		$	15.98
Shares of common stock outstanding at end of period	54,632,827			56,958,440			55,299,484
Total investment return-net asset value(4)	2.29		%	1.87		%	10.44		%
Total investment return-market value(5)	13.66		%	(30.29)		%	(14.87)		%
Net assets at beginning of period	$	883,634		$	930,512		$	930,512
Net assets at end of period	$	836,364		$	905,238		$	883,634
Average net assets	$	858,277		$	926,144		$	917,781
Ratio/Supplemental data:
Ratio of net investment income to average net assets	6.21		%	4.19		%	9.61		%
Ratio of net operating expenses to average net assets	8.18		%	5.02		%	11.63		%
Portfolio turnover rate(6)	5.48		%	9.96		%	26.81		%
Total amount of senior securities outstanding	$	985,712		$	947,500		$	957,500
Asset coverage ratio(7)	1.85			1.96			1.92

(1)The per share data for the six months ended June 30, 2023 and 2022 and the year ended December 31, 2022 was derived by using the weighted average shares of common stock outstanding during each period.

(2)The amount shown for net realized loss, net change in unrealized depreciation on investments and loss on foreign currency is the balancing figure derived from the other figures in the schedule. The amount shown at this caption for a share outstanding throughout the period may not agree with the change in the aggregate gains and losses in portfolio securities for the period because of the timing of sales and repurchases of the Company’s shares in relation to fluctuating market values for the portfolio. As a result, net (decrease) increase in net assets resulting from operations in this schedule may vary from the consolidated statements of operations.

(3)Repurchases of common stock may have caused an incremental decrease or increase in net asset value per share due to the repurchase of shares at a price in excess of or below net asset value per share, respectively, on each repurchase date. The per share impact of repurchases of common stock was a decrease to net asset value of less than $0.01 per share during the six months ended June 30, 2023 and 2022 and the year ended December 31, 2022.

(4)Total investment return-net asset value is a measure of the change in total value for shareholders who held the Company’s common stock at the beginning and end of the period, including distributions paid or payable during the period. Total investment return-net asset value is based on (i) the beginning period net asset value per share on the first day of the period, (ii) the net asset value per share on the last day of the period of (A) one share plus (B) any fractional shares issued in connection with the reinvestment of distributions, and (iii) the value of distributions payable, if any, on the last day of the period. The total investment return-net asset value calculation assumes that distributions are reinvested in accordance with the Company's distribution reinvestment plan then in effect as described in Note 5. The total investment return-net asset value does not consider the effect of the sales load from the sale of the Company’s common stock. The total investment return-net asset value includes the effect of the issuance of shares at a net offering price that is greater than net asset value per share, which causes an increase in net asset value per share. Total returns covering less than a full year are not annualized.

(5)Total investment return-market value for the six months ended June 30, 2023 and 2022 and the year ended December 31, 2022 was calculated by taking the change in the market price of the Company's common stock since the first day of the period, and including the impact of distributions reinvested in accordance with the Company’s New DRP. Total investment return-market value does not consider the effect of any sales commissions or charges that may be incurred in connection with the sale of shares of the Company’s common stock. The historical calculation of total investment return-market value in the table should not be considered a representation of the Company’s future total return based on market value, which may be greater or less than the return shown in the table due to a number of factors, including the Company’s ability or inability to make investments in companies that meet its investment criteria, the interest rates payable on the debt securities the Company acquires, the level of the Company’s expenses, variations in and the timing of the recognition of realized and unrealized gains or losses, the degree to which the Company encounters competition in its markets, general economic conditions and fluctuations in per share market value. As a result of these factors, results for any previous period should not be relied upon as being indicative of performance in future periods.

(6)Portfolio turnover rate is calculated using the lesser of year-to-date sales or purchases over the average of the invested assets at fair value, excluding short term investments, and is not annualized.

(7)Asset coverage ratio is equal to (i) the sum of (a) net assets at the end of the period and (b) total senior securities outstanding at the end of the period (excluding unfunded commitments), divided by (ii) total senior securities outstanding at the end of the period.

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Organization and Principal Business (Details) - USD ($) $ in Thousands	Apr. 05, 2021	Dec. 17, 2012	Jul. 11, 2017
Schedule of Equity Method Investments [Line Items]
Proceeds from contributions from unaffiliated outside investors		$ 2,500
Period of amended and restated investment advisory agreement	24 months
CION Investment Group, LLC | CION Investment Management, LLC
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage			50.00%
Apollo Investment Management, L.P. | CION Investment Management, LLC
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage			50.00%

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Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	Oct. 05, 2021	Oct. 04, 2021	Jun. 30, 2023	[1]	Dec. 31, 2022
Investment Company, Financial Highlights [Line Items]
Fair Value			$ 1,788,462		$ 1,760,030
Percent of capital gains incentive fee	17.50%	20.00%
Short term investments
Investment Company, Financial Highlights [Line Items]
Fair Value			$ 100,771		$ 10,869

[1] Fair value determined in good faith by the Company’s board of directors (see Note 9), including via delegation to CIM as the Company’s valuation designee (see Note 2), using significant unobservable inputs unless otherwise noted.

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Share Transactions - Schedule Of Transactions With Shares Of Company’s Common Stock (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended	132 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Jun. 30, 2023
Equity [Abstract]
Gross shares/proceeds from the offering (in shares)			0	0	0
Gross shares/proceeds from the offering			$ 0	$ 0	$ 0
Reinvestment of distributions (in shares)			0	0	0
Reinvestment of distributions			$ 0	$ 0	$ 0
Total gross shares/proceeds (in shares)			0	0	0
Total gross shares/proceeds			$ 0	$ 0	$ 0
Share repurchase program (in shares)			(666,657)	0	(1,658,956)	(15,636,540)
Share repurchase program	$ (3,226)	$ 0	$ (6,818)	$ 0	$ (15,444)	$ (254,692)
Net shares/proceeds from share transactions (in Shares)			(666,657)	0	(1,658,956)
Net shares/proceeds from share transactions			$ (6,818)	$ 0	$ (15,444)

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Share Transactions - Narrative (Details) $ / shares in Units, $ in Thousands			1 Months Ended	3 Months Ended						6 Months Ended		12 Months Ended	132 Months Ended
	Aug. 02, 2023 shares	Sep. 15, 2022	Aug. 02, 2023 USD ($) $ / shares shares	Jun. 30, 2023 USD ($) $ / shares shares	Mar. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Sep. 30, 2022 USD ($) $ / shares shares	Jun. 30, 2022 USD ($) shares	Mar. 31, 2022 USD ($) shares	Jun. 30, 2023 USD ($) $ / shares shares	Jun. 30, 2022 USD ($) shares	Dec. 31, 2022 USD ($) $ / shares shares	Jun. 30, 2023 USD ($) $ / shares shares	Jun. 24, 2022 USD ($)	Oct. 05, 2021 d	Sep. 21, 2021 $ / shares shares	Sep. 20, 2021 shares	Sep. 15, 2021 USD ($)
Subsidiary, Sale of Stock [Line Items]
Sale of common stock (in shares)													54,632,827
Repurchase of common stock | $				$ 3,226				$ 0		$ 6,818	$ 0	$ 15,444	$ 254,692
Share repurchase program (in shares)										666,657	0	1,658,956	15,636,540
Common stock repurchased retired (in shares)													15,623,796
Sale of stock, offering period		12 months
Reverse stock splits										0.5
Common stock, shares issued (in shares)				54,645,571		55,299,484				54,645,571		55,299,484	54,645,571			56,958,440	113,916,869
Common stock, shares outstanding (in shares)				54,632,827		55,299,484		56,958,440		54,632,827	56,958,440	55,299,484	54,632,827			56,958,440	113,916,869
Common stock par or stated value per share (in dollars per share) | $ / shares				$ 0.001		$ 0.001				$ 0.001		$ 0.001	$ 0.001			$ 0.001
Ratio of shares available for trading upon listing															33.33%
Ratio of shares available for trading 180 days after listing															66.66%
Number of days after listing, 2/3rd share availability for trading | d															180
Number of days after listing, entire share availability for trading | d															270
Stock repurchase program, authorized amount | $														$ 60,000				$ 50,000
Stock repurchase program, additional amount authorized | $														$ 10,000
Shares Repurchased (in shares)				328,628	338,029	963,480	695,476	0	0	666,657		1,658,956
Aggregate Consideration for Repurchased Shares | $				$ 3,226	$ 3,592	$ 8,733	$ 6,711	$ 0	$ 0	$ 6,818		$ 15,444
Repurchase price, average cost per share (in dollars per share) | $ / shares				$ 9.81	$ 10.63	$ 9.06	$ 9.65
Subsequent Event
Subsidiary, Sale of Stock [Line Items]
Shares Repurchased (in shares)			57,691
Aggregate Consideration for Repurchased Shares | $			$ 621
Repurchase price, average cost per share (in dollars per share) | $ / shares			$ 10.76
Treasury stock, retired (in shares)	15,690,588
Public Stock Offering
Subsidiary, Sale of Stock [Line Items]
Net proceeds | $													$ 1,138,045
Public Stock Offering - Reinvested Shareholder Distributions
Subsidiary, Sale of Stock [Line Items]
Sale of common stock (in shares)													13,523,489
Net proceeds | $													$ 237,451

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Share Transactions - Schedule of Share Repurchases (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						6 Months Ended	12 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Dec. 31, 2022
Equity [Abstract]
Shares Repurchased (in shares)	328,628	338,029	963,480	695,476	0	0	666,657	1,658,956
Repurchase Price Per Share (in dollars per share)	$ 9.81	$ 10.63	$ 9.06	$ 9.65
Aggregate Consideration for Repurchased Shares	$ 3,226	$ 3,592	$ 8,733	$ 6,711	$ 0	$ 0	$ 6,818	$ 15,444

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Transactions with Related Parties - Schedule of Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2022
Related Party Transaction [Line Items]
Related party transaction, amount	$ 12,421	$ 11,711	$ 26,269	$ 23,219	$ 49,419
CIM, Management fee
Related Party Transaction [Line Items]
Related party transaction, amount	6,546	6,839	13,222	13,494	27,361
CIM, Incentive fee
Related Party Transaction [Line Items]
Related party transaction, amount	4,965	4,091			18,710
CIM, Administrative service expense
Related Party Transaction [Line Items]
Related party transaction, amount	$ 910	$ 781	$ 1,747	$ 1,501	$ 3,348

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Transactions with Related Parties - Narrative (Details) $ in Thousands						3 Months Ended		6 Months Ended			12 Months Ended
	Aug. 07, 2023	Dec. 31, 2021	Oct. 05, 2021	Aug. 10, 2021	Jan. 02, 2018	Jun. 30, 2023 USD ($) component	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) component	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Dec. 31, 2022 USD ($)
Related Party Transaction [Line Items]
Subordinated incentive fee on income								$ 11,300	$ 8,224		$ 18,710
Accrued subordinated incentive fee on income						$ 4,967		$ 4,967			5,065
Related party transaction, amount						$ 12,421	$ 11,711		26,269	$ 23,219	49,419
Related Party
Related Party Transaction [Line Items]
Number of components | component						2		2
Accrued subordinated incentive fee on income						$ 4,967		$ 4,967			5,065
Investment Management Agreement
Related Party Transaction [Line Items]
Related party transaction, amount								12,087			13,692
Investment Management Agreement | Subsequent Event | Related Party
Related Party Transaction [Line Items]
Term of agreement	12 months
Investment Management Agreement, Annual Base Management Fee | Related Party
Related Party Transaction [Line Items]
Management and service fees, base rate			1.50%
Investment Management Agreement, Annual Base Management Fee | Subsequent Event | Related Party
Related Party Transaction [Line Items]
Management and service fees, base rate	2.00%
Investment Management Agreement, Asset Coverage Ratio | Related Party
Related Party Transaction [Line Items]
Management and service fees, base rate		150.00%	200.00%
Investment Management Agreement, Annual Base Management Fee Step-Down | Related Party
Related Party Transaction [Line Items]
Management and service fees, base rate			1.00%
Investment Management Agreement, Hurdle Rate, Per Quarter
Related Party Transaction [Line Items]
Management and service fees, incentive rate				1.875%
Investment Management Agreement, Hurdle Rate, Per Year
Related Party Transaction [Line Items]
Management and service fees, incentive rate				7.50%
Investment Management Agreement, Pre-Incentive Fee Up To Threshold
Related Party Transaction [Line Items]
Management and service fees, incentive rate				100.00%
Investment Management Fee, Hurdle Rate, Threshold
Related Party Transaction [Line Items]
Management and service fees, incentive rate				9.375%
Investment Management Agreement, Pre-Incentive Fee, After Threshold
Related Party Transaction [Line Items]
Management and service fees, incentive rate				20.00%
Investment Management Agreement, Second Amendment, Hurdle Rate, Per Quarter
Related Party Transaction [Line Items]
Management and service fees, incentive rate				1.625%
Investment Management Agreement, Second Amendment, Hurdle Rate, Per Year
Related Party Transaction [Line Items]
Management and service fees, incentive rate				6.50%
Investment Management Agreement, Second Amendment, Pre-Incentive Fee, Up To Threshold
Related Party Transaction [Line Items]
Management and service fees, incentive rate				100.00%
Investment Management Fee, Second Amendment, Hurdle Rate, Threshold
Related Party Transaction [Line Items]
Management and service fees, incentive rate				7.879%
Investment Management Agreement, Second Amendment, Pre-Incentive Fee, After Threshold
Related Party Transaction [Line Items]
Management and service fees, incentive rate				17.50%
CIM, Incentive fee
Related Party Transaction [Line Items]
Subordinated incentive fee on income								11,300	8,224
Related party transaction, amount						4,965	4,091				$ 18,710
CIM, Incentive fee | Related Party
Related Party Transaction [Line Items]
Subordinated incentive fee on income						$ 4,965	$ 4,091	$ 11,300	$ 8,224
Expense Support And Conditional Reimbursement Agreement
Related Party Transaction [Line Items]
Reimbursement period					3 years

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Distributions - Schedule of Dividends Declared (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						6 Months Ended		12 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Equity [Abstract]
Distributions per share (in dollars per share)	$ 0.3400	$ 0.3400	$ 0.5800	$ 0.3100	$ 0.2800	$ 0.2800	$ 0.6800	$ 0.5600	$ 1.4500
Distributions amount	$ 18,614	$ 18,687	$ 32,074	$ 17,604	$ 15,949	$ 15,948	$ 37,301	$ 31,897	$ 81,575

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Distributions - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended						6 Months Ended		12 Months Ended
	Aug. 07, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Class of Stock [Line Items]
Distributions per share (in dollars per share)		$ 0.3400	$ 0.3400	$ 0.5800	$ 0.3100	$ 0.2800	$ 0.2800	$ 0.6800	$ 0.5600	$ 1.4500
Percentage of market price								95.00%
Aggregate gross unrealized appreciation		$ 26,828		$ 31,155				$ 26,828		$ 31,155
Aggregate gross unrealized depreciation		169,033		122,246				169,033		122,246
Cumulative gross unrealized appreciation (depreciation) for federal income tax purposes		(142,205)		(91,091)				(142,205)		(91,091)
Aggregate cost of securities for federal income tax		$ 1,930,667		$ 1,851,121				$ 1,930,667		$ 1,851,121
Subsequent Event | Payable On September 15, 2023
Class of Stock [Line Items]
Distributions per share (in dollars per share)	$ 0.34
Subsequent Event | Payable On September 29, 2023
Class of Stock [Line Items]
Distributions per share (in dollars per share)	$ 0.05

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Distributions - Schedule of Repurchases of Shares (Details) - $ / shares	1 Months Ended			3 Months Ended				6 Months Ended		12 Months Ended	132 Months Ended
	Jun. 30, 2023	May 31, 2023	Apr. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Jun. 30, 2023
Equity, Class of Treasury Stock [Line Items]
Total Number of Shares Purchased (in shares)								666,657	0	1,658,956	15,636,540
Average Price Paid per Share (in dollars per share)				$ 9.81	$ 10.63	$ 9.06	$ 9.65
DRP
Equity, Class of Treasury Stock [Line Items]
Total Number of Shares Purchased (in shares)	174,424	0	0					174,424
Average Price Paid per Share (in dollars per share)	$ 10.71	$ 0	$ 0					$ 10.71
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (in shares)	174,424	0	0					174,424
Maximum Number of Shares That May Yet Be Purchased Under the Plans or Programs (in shares)	(1)	0	0					(1)

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Distributions - Schedule of Common Stock on Distributions (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						6 Months Ended		12 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Equity [Abstract]
Distributions per share (in dollars per share)	$ 0.3400	$ 0.3400	$ 0.5800	$ 0.3100	$ 0.2800	$ 0.2800	$ 0.6800	$ 0.5600	$ 1.4500
Distributions amount	$ 18,614	$ 18,687	$ 32,074	$ 17,604	$ 15,949	$ 15,948	$ 37,301	$ 31,897	$ 81,575
Percentage							100.00%	100.00%	100.00%

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Distributions - Schedule of Accumulated Losses On Tax Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Income Tax Examination [Line Items]
Total accumulated losses	$ (201,420)	$ (160,968)
Short term capital loss carryforwards		7,233
Long term capital loss carryforwards		66,284
Tax Basis
Income Tax Examination [Line Items]
Undistributed ordinary income		8,543
Other accumulated losses		(77,942)
Net unrealized depreciation on investments		(91,091)
Total accumulated losses		$ (160,490)

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Investments - Fair Value, Assets Measured on Recurring Basis (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2023		Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cost	$ 1,865,013	[1]	$ 1,803,609
Fair Value	$ 1,788,462	[2]	$ 1,760,030
Investments at Cost and Fair Value | Investment Portfolio Concentration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percentage of Investment Portfolio	100.00%		100.00%
Senior secured first lien debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cost	$ 1,546,799	[1]	$ 1,638,995
Fair Value	$ 1,468,630	[2]	$ 1,579,512
Senior secured first lien debt | Investments at Cost and Fair Value | Investment Portfolio Concentration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percentage of Investment Portfolio	87.00%		90.30%
Senior secured second lien debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cost	$ 41,153	[1]	$ 41,036
Fair Value	$ 39,544	[2]	$ 38,769
Senior secured second lien debt | Investments at Cost and Fair Value | Investment Portfolio Concentration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percentage of Investment Portfolio	2.30%		2.20%
Collateralized securities and structured products - equity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cost	$ 2,510		$ 2,687
Fair Value	$ 1,046		$ 1,179
Collateralized securities and structured products - equity | Investments at Cost and Fair Value | Investment Portfolio Concentration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percentage of Investment Portfolio	0.10%		0.10%
Unsecured debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cost	$ 34,635	[1]	$ 30,427
Fair Value	$ 17,301	[2]	$ 22,643
Unsecured debt | Investments at Cost and Fair Value | Investment Portfolio Concentration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percentage of Investment Portfolio	1.00%		1.30%
Equity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cost	$ 139,145	[1]	$ 79,595
Fair Value	$ 161,170	[2]	$ 107,058
Equity | Investments at Cost and Fair Value | Investment Portfolio Concentration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percentage of Investment Portfolio	9.60%		6.10%
Investments, Excluding Short-Term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cost	$ 1,764,242		$ 1,792,740
Fair Value	1,687,691		1,749,161
Short term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cost	100,771	[1]	10,869
Fair Value	$ 100,771	[2]	$ 10,869

[1] Represents amortized cost for debt securities and cost for equity investments.

[2] Fair value determined in good faith by the Company’s board of directors (see Note 9), including via delegation to CIM as the Company’s valuation designee (see Note 2), using significant unobservable inputs unless otherwise noted.

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Investments - Summary Investment Holdings (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2023		Dec. 31, 2022
Summary of Investment Holdings [Line Items]
Investments at Fair Value	$ 1,788,462	[1]	$ 1,760,030
United States
Summary of Investment Holdings [Line Items]
Investments at Fair Value	1,675,076		1,739,866
Canada
Summary of Investment Holdings [Line Items]
Investments at Fair Value	10,682		7,452
Cayman Islands
Summary of Investment Holdings [Line Items]
Investments at Fair Value	1,046		1,179
Bermuda
Summary of Investment Holdings [Line Items]
Investments at Fair Value	887		664
Investments, Excluding Short-Term Investments
Summary of Investment Holdings [Line Items]
Investments at Fair Value	1,687,691		1,749,161
Short term investments
Summary of Investment Holdings [Line Items]
Investments at Fair Value	$ 100,771	[1]	$ 10,869
Investments at fair value | Industry Concentration
Summary of Investment Holdings [Line Items]
Percentage of Investment Portfolio	100.00%		100.00%
Investments at fair value | Geographic Concentration
Summary of Investment Holdings [Line Items]
Percentage of Investment Portfolio	100.00%		100.00%
Investments at fair value | Geographic Concentration | United States
Summary of Investment Holdings [Line Items]
Percentage of Investment Portfolio	99.30%		99.50%
Investments at fair value | Geographic Concentration | Canada
Summary of Investment Holdings [Line Items]
Percentage of Investment Portfolio	0.50%		0.40%
Investments at fair value | Geographic Concentration | Cayman Islands
Summary of Investment Holdings [Line Items]
Percentage of Investment Portfolio	0.10%		0.10%
Investments at fair value | Geographic Concentration | Bermuda
Summary of Investment Holdings [Line Items]
Percentage of Investment Portfolio	0.10%		0.00%
Services: Business
Summary of Investment Holdings [Line Items]
Investments at Fair Value	$ 302,710		$ 336,055
Services: Business | Investments at fair value | Industry Concentration
Summary of Investment Holdings [Line Items]
Percentage of Investment Portfolio	18.00%		19.20%
Healthcare & Pharmaceuticals
Summary of Investment Holdings [Line Items]
Investments at Fair Value	$ 236,791		$ 237,082
Healthcare & Pharmaceuticals | Investments at fair value | Industry Concentration
Summary of Investment Holdings [Line Items]
Percentage of Investment Portfolio	14.00%		13.60%
Media: Diversified & Production
Summary of Investment Holdings [Line Items]
Investments at Fair Value	$ 122,742		$ 134,927
Media: Diversified & Production | Investments at fair value | Industry Concentration
Summary of Investment Holdings [Line Items]
Percentage of Investment Portfolio	7.30%		7.70%
Media: Advertising, Printing & Publishing
Summary of Investment Holdings [Line Items]
Investments at Fair Value	$ 110,139		$ 105,375
Media: Advertising, Printing & Publishing | Investments at fair value | Industry Concentration
Summary of Investment Holdings [Line Items]
Percentage of Investment Portfolio	6.50%		6.00%
Services: Consumer
Summary of Investment Holdings [Line Items]
Investments at Fair Value	$ 105,328		$ 115,849
Services: Consumer | Investments at fair value | Industry Concentration
Summary of Investment Holdings [Line Items]
Percentage of Investment Portfolio	6.30%		6.60%
Diversified Financials
Summary of Investment Holdings [Line Items]
Investments at Fair Value	$ 81,052		$ 99,819
Diversified Financials | Investments at fair value | Industry Concentration
Summary of Investment Holdings [Line Items]
Percentage of Investment Portfolio	4.80%		5.70%
Construction & Building
Summary of Investment Holdings [Line Items]
Investments at Fair Value	$ 71,133		$ 46,007
Construction & Building | Investments at fair value | Industry Concentration
Summary of Investment Holdings [Line Items]
Percentage of Investment Portfolio	4.20%		2.60%
Chemicals, Plastics & Rubber
Summary of Investment Holdings [Line Items]
Investments at Fair Value	$ 67,947		$ 66,753
Chemicals, Plastics & Rubber | Investments at fair value | Industry Concentration
Summary of Investment Holdings [Line Items]
Percentage of Investment Portfolio	4.00%		3.80%
Energy: Oil & Gas
Summary of Investment Holdings [Line Items]
Investments at Fair Value	$ 66,248		$ 68,756
Energy: Oil & Gas | Investments at fair value | Industry Concentration
Summary of Investment Holdings [Line Items]
Percentage of Investment Portfolio	3.90%		3.90%
Retail
Summary of Investment Holdings [Line Items]
Investments at Fair Value	$ 63,042		$ 74,718
Retail | Investments at fair value | Industry Concentration
Summary of Investment Holdings [Line Items]
Percentage of Investment Portfolio	3.80%		4.30%
Consumer Goods: Durable
Summary of Investment Holdings [Line Items]
Investments at Fair Value	$ 61,172		$ 60,735
Consumer Goods: Durable | Investments at fair value | Industry Concentration
Summary of Investment Holdings [Line Items]
Percentage of Investment Portfolio	3.60%		3.50%
Hotel, Gaming & Leisure
Summary of Investment Holdings [Line Items]
Investments at Fair Value	$ 60,211		$ 46,739
Hotel, Gaming & Leisure | Investments at fair value | Industry Concentration
Summary of Investment Holdings [Line Items]
Percentage of Investment Portfolio	3.60%		2.70%
High Tech Industries
Summary of Investment Holdings [Line Items]
Investments at Fair Value	$ 52,664		$ 56,501
High Tech Industries | Investments at fair value | Industry Concentration
Summary of Investment Holdings [Line Items]
Percentage of Investment Portfolio	3.10%		3.20%
Beverage, Food & Tobacco
Summary of Investment Holdings [Line Items]
Investments at Fair Value	$ 51,337		$ 45,396
Beverage, Food & Tobacco | Investments at fair value | Industry Concentration
Summary of Investment Holdings [Line Items]
Percentage of Investment Portfolio	3.00%		2.60%
Capital Equipment
Summary of Investment Holdings [Line Items]
Investments at Fair Value	$ 46,606		$ 41,580
Capital Equipment | Investments at fair value | Industry Concentration
Summary of Investment Holdings [Line Items]
Percentage of Investment Portfolio	2.80%		2.40%
Consumer Goods: Non-Durable
Summary of Investment Holdings [Line Items]
Investments at Fair Value	$ 43,003		$ 47,886
Consumer Goods: Non-Durable | Investments at fair value | Industry Concentration
Summary of Investment Holdings [Line Items]
Percentage of Investment Portfolio	2.50%		2.80%
Banking, Finance, Insurance & Real Estate
Summary of Investment Holdings [Line Items]
Investments at Fair Value	$ 36,139		$ 43,836
Banking, Finance, Insurance & Real Estate | Investments at fair value | Industry Concentration
Summary of Investment Holdings [Line Items]
Percentage of Investment Portfolio	2.10%		2.50%
Containers, Packaging & Glass
Summary of Investment Holdings [Line Items]
Investments at Fair Value	$ 19,453		$ 19,551
Containers, Packaging & Glass | Investments at fair value | Industry Concentration
Summary of Investment Holdings [Line Items]
Percentage of Investment Portfolio	1.20%		1.10%
Telecommunications
Summary of Investment Holdings [Line Items]
Investments at Fair Value	$ 18,315		$ 18,302
Telecommunications | Investments at fair value | Industry Concentration
Summary of Investment Holdings [Line Items]
Percentage of Investment Portfolio	1.10%		1.10%
Automotive
Summary of Investment Holdings [Line Items]
Investments at Fair Value	$ 16,231		$ 16,255
Automotive | Investments at fair value | Industry Concentration
Summary of Investment Holdings [Line Items]
Percentage of Investment Portfolio	1.00%		0.90%
Metals & Mining
Summary of Investment Holdings [Line Items]
Investments at Fair Value	$ 15,781		$ 15,780
Metals & Mining | Investments at fair value | Industry Concentration
Summary of Investment Holdings [Line Items]
Percentage of Investment Portfolio	0.90%		0.90%
Environmental Industries
Summary of Investment Holdings [Line Items]
Investments at Fair Value	$ 14,722		$ 0
Environmental Industries | Investments at fair value | Industry Concentration
Summary of Investment Holdings [Line Items]
Percentage of Investment Portfolio	0.90%		0.00%
Aerospace & Defense
Summary of Investment Holdings [Line Items]
Investments at Fair Value	$ 12,627		$ 38,842
Aerospace & Defense | Investments at fair value | Industry Concentration
Summary of Investment Holdings [Line Items]
Percentage of Investment Portfolio	0.70%		2.20%
Transportation: Cargo
Summary of Investment Holdings [Line Items]
Investments at Fair Value	$ 12,298		$ 12,417
Transportation: Cargo | Investments at fair value | Industry Concentration
Summary of Investment Holdings [Line Items]
Percentage of Investment Portfolio	0.70%		0.70%

[1] Fair value determined in good faith by the Company’s board of directors (see Note 9), including via delegation to CIM as the Company’s valuation designee (see Note 2), using significant unobservable inputs unless otherwise noted.

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Investments - Narrative (Details) - USD ($) $ in Thousands	Aug. 02, 2023	Jun. 30, 2023	Dec. 31, 2022
Summary of Investment Holdings [Line Items]
Non-accrual status, percent of fair value		1.70%	1.30%
Unfunded Commitments
Summary of Investment Holdings [Line Items]
Unfunded commitments amount		$ 56,378	$ 71,420
Unfunded Commitments | Subsequent Event
Summary of Investment Holdings [Line Items]
Unfunded commitments amount	$ 54,475

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Joint Ventures - Narrative (Details)	Jun. 30, 2023 member	Dec. 21, 2021 USD ($)
CION/EagleTree | CION/EagleTree Notes | Senior Notes
Schedule of Equity Method Investments [Line Items]
Debt instrument, aggregate principal amount | $		$ 61,629,000
Interest rate		14.00%
CION/EagleTree | CION/EagleTree Notes | Senior Notes | ET-BC
Schedule of Equity Method Investments [Line Items]
Debt instrument, aggregate principal amount | $		$ 10,875,000
CION/EagleTree
Schedule of Equity Method Investments [Line Items]
Percentage of investments contributed	85.00%
Number of board members	4
Number of board members selected by company	2
Number of board members selected by counterparty	2
Number of affirmative votes required by company	1
Number of affirmative votes required by counterparty	1
CION/EagleTree | ET-BC
Schedule of Equity Method Investments [Line Items]
Percentage of investments contributed	15.00%

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Joint Ventures - Individual Investments (Details) - USD ($) $ in Thousands		Jun. 30, 2023		Dec. 31, 2022		Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Investments, cost		$ 1,865,013	[1]	$ 1,803,609
Investments, at fair value:		1,788,462	[2]	1,760,030
CION/EagleTree
Schedule of Equity Method Investments [Line Items]
Investments, cost		89,808		102,619
Investments, at fair value:		93,612		105,978
Senior Secured First Lien Debt
Schedule of Equity Method Investments [Line Items]
Investments, cost		1,546,799	[1]	1,638,995
Investments, at fair value:		1,468,630	[2]	1,579,512
Senior Secured First Lien Debt | CION/EagleTree
Schedule of Equity Method Investments [Line Items]
Investments, cost		2,756		3,006
Investments, at fair value:		2,781		3,007
Senior Secured Second Lien Debt
Schedule of Equity Method Investments [Line Items]
Investments, cost		41,153	[1]	41,036
Investments, at fair value:		39,544	[2]	38,769
Senior Secured Second Lien Debt | CION/EagleTree
Schedule of Equity Method Investments [Line Items]
Investments, cost		13,431		29,185
Investments, at fair value:		13,644		28,452
Collateralized securities and structured products - equity
Schedule of Equity Method Investments [Line Items]
Investments, cost		2,510	[1]	2,687
Investments, at fair value:		1,046	[2]	1,179
Collateralized securities and structured products - equity | CION/EagleTree
Schedule of Equity Method Investments [Line Items]
Investments, cost		9,796		9,874
Investments, at fair value:		9,263		9,523
Equity | CION/EagleTree
Schedule of Equity Method Investments [Line Items]
Investments, cost		62,382		60,554
Investments, at fair value:		66,481		64,996
Short term investments
Schedule of Equity Method Investments [Line Items]
Investments, cost		100,771	[1]	10,869
Investments, at fair value:		100,771	[2]	$ 10,869
Short term investments | CION/EagleTree
Schedule of Equity Method Investments [Line Items]
Investments, cost		1,443
Investments, at fair value:		$ 1,443
Investment, Identifier [Axis]: AHF Parent Holding, Inc., Senior Secured First Lien Debt, 2/1/2028 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.25%	[3],[4],[5]	6.25%	[6],[7],[8]
Interest rate, floor		0.75%	[3],[4],[5]	0.75%	[6],[7],[8]
Principal amount		$ 2,813	[3],[5],[9]	$ 2,944	[6],[8]
Investments, cost		2,767	[3],[5]	2,891	[6],[8]
Investments, at fair value:		$ 2,714	[3],[5]	$ 2,771	[6],[8]
Investment, Identifier [Axis]: ALM Media, LLC 1, Senior Secured First Lien Debt, 11/25/2024 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[6],[7],[10],[11]			6.50%
Interest rate, floor	[6],[7],[10],[11]			1.00%
Investment, Identifier [Axis]: ALM Media, LLC, Senior Secured First Lien Debt, 11/25/2024 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[3],[4],[5],[12]	6.00%
Interest rate, floor	[3],[4],[5],[12]	1.00%
Principal amount		$ 16,421	[3],[5],[9],[12]	$ 17,000	[6],[10],[11]
Investments, cost		16,324	[3],[5],[12]	16,855	[6],[10],[11]
Investments, at fair value:		$ 16,421	[3],[5],[12]	$ 17,000	[6],[10],[11]
Investment, Identifier [Axis]: APIDOS CLO XVI Subordinated Notes., Collateralized Securities and Structured Products - Equity, 1/19/2025 Maturity
Schedule of Equity Method Investments [Line Items]
Investment estimated yield		0.00%	[4],[13],[14]	0.00%	[15],[16]
Principal amount		$ 9,000	[9],[13],[14]	$ 9,000	[15],[16]
Investments, cost		1,217	[13],[14]	1,246	[15],[16]
Investments, at fair value:		13	[13],[14]	71	[15],[16]
Investment, Identifier [Axis]: ARC Financial Partners, LLC, Membership Interests., Equity
Schedule of Equity Method Investments [Line Items]
Investments, cost		0	[17],[18]	0	[19],[20]
Investments, at fair value:		0	[17],[18]	$ 0	[19],[20]
Investment, Identifier [Axis]: ARC Financial Partners, LLC., Equity
Schedule of Equity Method Investments [Line Items]
Ownership percentage				25.00%
Investment, Identifier [Axis]: ARC Financial, LLC, Membership Interests, Non-Controlled, Affiliated Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:		$ 0		$ 0		$ 0
Investment, Identifier [Axis]: Adapt Laser Acquisition, Inc., Senior Secured First Lien Debt, 12/31/2023 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		12.00%	[4],[21],[22]	12.00%	[7],[11],[23]
Interest rate, floor		1.00%	[4],[21],[22]	1.00%	[7],[11],[23]
Principal amount		$ 10,979	[9],[21],[22]	$ 11,047	[11],[23]
Investments, cost		10,979	[21],[22]	11,048	[11],[23]
Investments, at fair value:		$ 11,143	[21],[22]	$ 10,329	[11],[23]
Investment, Identifier [Axis]: Adapt Laser Acquisition, Inc., Senior Secured First Lien Debt, 12/31/2023 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		12.00%	[4],[21],[22]	12.00%	[7],[11],[23]
Interest rate, floor		1.00%	[4],[21],[22]	1.00%	[7],[11],[23]
Principal amount		$ 2,093	[9],[21],[22]	$ 2,072	[11],[23]
Investments, cost		2,093	[21],[22]	2,072	[11],[23]
Investments, at fair value:		2,041	[21],[22]	1,875	[11],[23]
Investment, Identifier [Axis]: Afore Insurance Services, LLC, First Lien Term Loan, Non-Controlled, Affiliated Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:		$ 4,572		$ 0
Investment, Identifier [Axis]: Afore Insurance Services, LLC., Senior Secured First Lien Debt, 3/24/2025 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[5],[12],[17]	6.00%
Interest rate, floor	[4],[5],[12],[17]	1.00%
Principal amount	[5],[9],[12],[17]	$ 4,583
Investments, cost	[5],[12],[17]	4,583
Investments, at fair value:	[5],[12],[17]	$ 4,572
Investment, Identifier [Axis]: Allen Media, LLC, Senior Secured First Lien Debt, 2/10/2027 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.00%	[3],[4],[5]	5.50%	[6],[7],[8]
Interest rate, floor		0.00%	[3],[4],[5]	0.00%	[6],[7],[8]
Principal amount		$ 8,818	[3],[5],[9]	$ 8,863	[6],[8]
Investments, cost		8,757	[3],[5]	8,793	[6],[8]
Investments, at fair value:		$ 8,553	[3],[5]	$ 8,420	[6],[8]
Investment, Identifier [Axis]: American Clinical Solutions LLC, Senior Secured First Lien Debt, 12/31/2024 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[12],[21],[24]	7.00%
Interest rate, floor		100.00%	[4],[12],[21],[24]	100.00%	[7],[10],[23],[25]
Principal amount		$ 4,859	[9],[12],[21],[24]	$ 4,250	[10],[23],[25]
Investments, cost		4,859	[12],[21],[24]	4,250	[10],[23],[25]
Investments, at fair value:		$ 4,726	[12],[21],[24]	$ 4,122	[10],[23],[25]
Investment, Identifier [Axis]: American Consolidated Natural Resources, Inc., Senior Secured First Lien Debt, 9/16/2025 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		16.00%	[4],[12],[21],[22]	16.00%	[7],[10],[11],[23]
Interest rate, floor		1.00%	[4],[12],[21],[22]	1.00%	[7],[10],[11],[23]
Principal amount		$ 47	[9],[12],[21],[22]	$ 47	[10],[11],[23]
Investments, cost		36	[12],[21],[22]	35	[10],[11],[23]
Investments, at fair value:		$ 48	[12],[21],[22]	$ 47	[10],[11],[23]
Investment, Identifier [Axis]: American Health Staffing Group, Inc. Senior Secured First Lien Debt, 11/19/2026 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[12],[26]	6.00%
Interest rate, floor	[4],[12],[26]	1.00%
Principal amount	[9],[12],[26]	$ 16,458
Investments, cost	[12],[26]	16,345
Investments, at fair value:	[12],[26]	16,458
Investment, Identifier [Axis]: American Health Staffing Group, Inc. Senior Secured First Lien Debt, 11/19/2026 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[10],[27]			6.00%
Interest rate, floor	[7],[10],[27]			1.00%
Principal amount	[10],[27]			$ 16,542
Investments, cost	[10],[27]			16,407
Investments, at fair value:	[10],[27]			16,542
Investment, Identifier [Axis]: American Health Staffing Group, Inc., Senior Secured First Lien Debt, 11/19/2026 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Principal amount				3,333
Investments, cost				(26)
Investments, at fair value:				$ 0
Investment, Identifier [Axis]: American Health Staffing Group, Inc., Senior Secured First Lien Debt, 11/19/2026 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Principal amount	[9]	3,333
Investments, cost		(22)
Investments, at fair value:		0
Investment, Identifier [Axis]: American Teleconferencing Services, Ltd. Senior Secured First Lien Debt, 1/31/23 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[28]			5.50%
Principal amount	[28]			$ 3,116
Investments, cost	[28]			3,116
Investments, at fair value:	[28]			156
Investment, Identifier [Axis]: American Teleconferencing Services, Ltd., Senior Secured First Lien Debt, 1/31/23 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Principal amount	[20],[28]			235
Investments, cost	[20],[28]			0
Investments, at fair value:	[20],[28]			$ 0
Investment, Identifier [Axis]: American Teleconferencing Services, Ltd., Senior Secured First Lien Debt, 4/07/2023 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Principal amount	[9],[18]	235
Investments, cost	[18]	0
Investments, at fair value:	[18]	$ 0
Investment, Identifier [Axis]: American Teleconferencing Services, Ltd., Senior Secured First Lien Debt, 4/07/2023 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[29]	5.50%
Principal amount	[9],[29]	$ 3,116
Investments, cost	[29]	3,116
Investments, at fair value:	[29]	$ 140
Investment, Identifier [Axis]: Analogic Corp., Senior Secured First Lien Debt, 6/21/2024 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		5.25%	[3],[4],[5],[12]	5.25%	[6],[7],[10],[11]
Interest rate, floor		1.00%	[3],[4],[5],[12]	1.00%	[6],[7],[10],[11]
Principal amount		$ 4,825	[3],[5],[9],[12]	$ 4,850	[6],[10],[11]
Investments, cost		4,807	[3],[5],[12]	4,823	[6],[10],[11]
Investments, at fair value:		$ 4,819	[3],[5],[12]	$ 4,795	[6],[10],[11]
Investment, Identifier [Axis]: Ancile Solutions, Inc., Senior Secured First Lien Debt, 6/11/2026 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		10.00%	[4],[12],[21],[22]	10.00%	[7],[10],[11],[23]
Interest rate, floor		1.00%	[4],[12],[21],[22]	1.00%	[7],[10],[11],[23]
Principal amount		$ 11,359	[9],[12],[21],[22]	$ 11,967	[10],[11],[23]
Investments, cost		11,126	[12],[21],[22]	11,681	[10],[11],[23]
Investments, at fair value:		$ 11,231	[12],[21],[22]	11,608	[10],[11],[23]
Investment, Identifier [Axis]: Anthem Sports & Entertainment Inc., Senior Secured First Lien Debt, 11/15/2026 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[12],[21],[22]	9.50%
Interest rate, floor	[4],[12],[21],[22]	1.00%
Principal amount		$ 37,076	[9],[12],[21],[22]	167
Investments, cost		36,942	[12],[21],[22]	0
Investments, at fair value:		$ 35,037	[12],[21],[22]	$ (8)
Investment, Identifier [Axis]: Anthem Sports & Entertainment Inc., Senior Secured First Lien Debt, 11/15/2026 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		9.50%	[4],[22]	9.50%	[7],[10],[11],[23]
Interest rate, floor		1.00%	[4],[22]	1.00%	[7],[10],[11],[23]
Principal amount		$ 3,000	[9],[22]	$ 36,914	[10],[11],[23]
Investments, cost		3,000	[22]	36,749	[10],[11],[23]
Investments, at fair value:		2,835	[22]	$ 35,161	[10],[11],[23]
Investment, Identifier [Axis]: Anthem Sports & Entertainment Inc., Senior Secured First Lien Debt, 11/15/2026 Maturity, 3
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[11]			9.50%
Interest rate, floor	[7],[11]			1.00%
Principal amount		167	[9]	$ 3,000	[11]
Investments, cost		0		3,000	[11]
Investments, at fair value:		$ (9)		$ 2,857	[11]
Investment, Identifier [Axis]: Appalachian Resource Company, LLC, Senior Secured First Lien Debt, 9/10/2023 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[25]			10.00%
Interest rate, floor	[7],[25]			1.00%
Principal amount	[25]			$ 5,000
Investments, cost	[25]			5,000
Investments, at fair value:	[25]			$ 5,000
Investment, Identifier [Axis]: Appalachian Resource Company, LLC, Senior Secured First Lien Debt, 9/10/2023 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[25]			5.00%
Interest rate, floor	[7],[25]			1.00%
Principal amount	[25]			$ 11,137
Investments, cost	[25]			10,625
Investments, at fair value:	[25]			$ 10,733
Investment, Identifier [Axis]: Appalachian Resource Company, LLC, Senior Secured First Lien Debt, 9/15/2023 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[24]	10.00%
Interest rate, floor	[4],[24]	1.00%
Principal amount	[9],[24]	$ 5,000
Investments, cost	[24]	5,000
Investments, at fair value:	[24]	$ 5,000
Investment, Identifier [Axis]: Appalachian Resource Company, LLC, Senior Secured First Lien Debt, 9/30/2023 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[24]	5.00%
Interest rate, floor	[4],[24]	1.00%
Principal amount	[9],[24]	$ 11,137
Investments, cost	[24]	10,992
Investments, at fair value:	[24]	$ 10,733
Investment, Identifier [Axis]: Archer Systems, LLC, Senior Secured First Lien Debt, 8/11/2027 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.00%	[4],[5],[12]	6.50%	[7],[10],[30]
Interest rate, floor		1.00%	[4],[5],[12]	1.00%	[7],[10],[30]
Principal amount		$ 22,098	[5],[9],[12]	$ 18,095	[10],[30]
Investments, cost		21,908	[5],[12]	17,922	[10],[30]
Investments, at fair value:		22,180	[5],[12]	17,937	[10],[30]
Investment, Identifier [Axis]: Archer Systems, LLC, Senior Secured First Lien Debt, 8/11/2027 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Principal amount	[9]	1,905
Investments, cost		(16)
Investments, at fair value:		$ 7
Investment, Identifier [Axis]: Archer Systems, LLC, Senior Secured First Lien Debt, 8/11/2027 Maturity, 3
Schedule of Equity Method Investments [Line Items]
Principal amount				1,905
Investments, cost				(18)
Investments, at fair value:				$ (17)
Investment, Identifier [Axis]: Ascent Resources - Marcellus, LLC, Membership Units., Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)		511,255	[9],[18]	511,255	[20]
Investments, cost		$ 1,642	[18]	$ 1,642	[20]
Investments, at fair value:		$ 746	[18]	$ 1,235	[20]
Investment, Identifier [Axis]: Ascent Resources - Marcellus, LLC, Warrants., Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)	[20]			132,367
Investments, cost	[20]			$ 13
Investments, at fair value:	[20]			$ 3
Investment, Identifier [Axis]: Associated Asphalt Partners, LLC, Senior Secured First Lien Debt, 4/5/2024 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		5.25%	[3],[4],[12],[22]	5.25%	[6],[7],[10],[25]
Interest rate, floor		1.00%	[3],[4],[12],[22]	1.00%	[6],[7],[10],[25]
Principal amount		$ 14,135	[3],[9],[12],[22]	$ 14,221	[6],[10],[25]
Investments, cost		14,034	[3],[12],[22]	14,051	[6],[10],[25]
Investments, at fair value:		11,424	[3],[12],[22]	10,994	[6],[10],[25]
Investment, Identifier [Axis]: Atlas Supply LLC, Senior Secured First Lien Debt, 4/29/2025 Maturity
Schedule of Equity Method Investments [Line Items]
Principal amount		5,000	[9]	5,000
Investments, cost		5,000		5,000
Investments, at fair value:		$ 4,938		$ 4,950
Investment, Identifier [Axis]: Avison Young (USA) Inc., Senior Secured First Lien Debt, 1/31/2026 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.50%	[4],[12],[31]	5.75%	[7],[10],[16],[25]
Interest rate, floor		0.00%	[4],[12],[31]	0.00%	[7],[10],[16],[25]
Principal amount		$ 6,660	[9],[12],[31]	$ 2,665	[10],[16],[25]
Investments, cost		5,552	[12],[31]	2,638	[10],[16],[25]
Investments, at fair value:		$ 5,595	[12],[31]	$ 2,505	[10],[16],[25]
Investment, Identifier [Axis]: BDS Solutions Intermediateco, LLC, Senior Secured First Lien Debt, 2/7/2027 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.25%	[4],[5],[12]	6.25%	[7],[8]
Interest rate, floor		1.00%	[4],[5],[12]	1.00%	[7],[8]
Principal amount		$ 19,979	[5],[9],[12]	$ 17,822	[8]
Investments, cost		19,689	[5],[12]	17,535	[8]
Investments, at fair value:		$ 19,605	[5],[12]	$ 17,466	[8]
Investment, Identifier [Axis]: BDS Solutions Intermediateco, LLC, Senior Secured First Lien Debt, 2/7/2027 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.25%	[4],[5]	6.25%	[7],[8]
Interest rate, floor		1.00%	[4],[5]	1.00%	[7],[8]
Principal amount		$ 1,811	[5],[9]	$ 859	[8]
Investments, cost		1,754	[5]	802	[8]
Investments, at fair value:		1,777	[5]	842	[8]
Investment, Identifier [Axis]: BDS Solutions Intermediateco, LLC, Senior Secured First Lien Debt, 2/7/2027 Maturity, 3
Schedule of Equity Method Investments [Line Items]
Principal amount		1,046	[9]	1,998
Investments, cost		0		0
Investments, at fair value:		$ (20)		(40)
Investment, Identifier [Axis]: Berlitz Holdings, Inc., First Lien Term Loan, Non-Controlled, Affiliated Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:				$ 0		0
Investment, Identifier [Axis]: Berlitz Holdings, Inc., Senior Secured First Lien Debt, 2/14/2025 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		9.00%	[4],[31]	9.00%	[7],[19],[30]
Interest rate, floor		1.00%	[4],[31]	1.00%	[7],[19],[30]
Principal amount		$ 13,800	[9],[31]	$ 13,800	[19],[30]
Investments, cost		13,165	[31]	12,992	[19],[30]
Investments, at fair value:		13,421	[31]	13,179	[19],[30]
Investment, Identifier [Axis]: Bradshaw International Parent Corp., Senior Secured First Lien Debt, 10/21/2026 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Principal amount		1,844	[9]	1,844
Investments, cost		(31)		(36)
Investments, at fair value:		$ (51)		$ (53)
Investment, Identifier [Axis]: Bradshaw International Parent Corp., Senior Secured First Lien Debt, 10/21/2027 Maturity, 3
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		5.75%	[4],[12],[31]	5.75%	[7],[10],[25]
Interest rate, floor		1.00%	[4],[12],[31]	1.00%	[7],[10],[25]
Principal amount		$ 12,899	[9],[12],[31]	$ 13,024	[10],[25]
Investments, cost		12,648	[12],[31]	12,746	[10],[25]
Investments, at fair value:		$ 12,544	[12],[31]	$ 12,650	[10],[25]
Investment, Identifier [Axis]: CB URS Holdings Corp., Senior Secured First Lien Debt, 9/01/2024 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[10],[11]			5.75%
Interest rate, floor	[7],[10],[11]			1.00%
Principal amount	[10],[11]			$ 14,826
Investments, cost	[10],[11]			14,801
Investments, at fair value:	[10],[11]			$ 12,417
Investment, Identifier [Axis]: CF Arch Holdings LLC, Class A Units, Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)		380,952	[9],[18]	380,952	[20]
Investments, cost		$ 381	[18]	$ 381	[20]
Investments, at fair value:		564	[18]	442	[20]
Investment, Identifier [Axis]: CION/EagleTree Partners, LLC, Common Shares, Controlled Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:		0		$ 0		0
Investment, Identifier [Axis]: CION/EagleTree Partners, LLC, Membership Units Equity
Schedule of Equity Method Investments [Line Items]
Investments, cost	[14],[18],[32]	0
Investments, at fair value:	[14],[18],[32]	$ 0
Investment, Identifier [Axis]: CION/EagleTree Partners, LLC, Membership Units, Equity
Schedule of Equity Method Investments [Line Items]
Ownership percentage				85.00%
Investments, cost	[16],[20],[33]			$ 0
Investments, at fair value:	[16],[20],[33]			$ 0
Investment, Identifier [Axis]: CION/EagleTree Partners, LLC, Participating Preferred Shares Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)		22,072,841	[9],[14],[32]	22,072,841	[16],[20],[33]
Investments, cost		$ 22,073	[14],[32]	$ 22,073	[16],[20],[33]
Investments, at fair value:		25,179	[14],[32]	30,766	[16],[20],[33]
Investment, Identifier [Axis]: CION/EagleTree Partners, LLC, Participating Preferred Shares, Controlled Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:		25,179		30,766		29,796
Investment, Identifier [Axis]: CION/EagleTree Partners, LLC, Senior Secured Note, Controlled Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:		54,827		60,348		61,629
Investment, Identifier [Axis]: CION/EagleTree Partners, LLC., Senior Secured First Lien Debt, 12/21/2026 Maturity
Schedule of Equity Method Investments [Line Items]
Principal amount		54,827	[9],[14],[21],[32]	60,348	[16],[23],[33]
Investments, cost		54,827	[14],[21],[32]	60,348	[16],[23],[33]
Investments, at fair value:		$ 54,827	[14],[21],[32]	$ 60,348	[16],[23],[33]
Investment, Identifier [Axis]: CION/EagleTree, Access CIG, LLC, Senior Secured Second Lien Debt
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		7.75%		7.75%
Interest rate, floor		0.00%		0.00%
Principal amount		$ 7,250		$ 7,250
Investments, cost		7,225		7,220
Investments, at fair value:		$ 7,105		$ 6,933
Investment, Identifier [Axis]: CION/EagleTree, American Clinical Solutions LLC, Class A Membership Interests, Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)		6,030,384		6,030,384
Investments, cost		$ 5,200		$ 5,200
Investments, at fair value:		$ 5,910		$ 3,618
Investment, Identifier [Axis]: CION/EagleTree, Anthem Sports and Entertainment Inc., Class A Preferred Stock Warrants, Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)		1,469		1,469
Investments, cost		$ 486		$ 486
Investments, at fair value:		$ 1,553		$ 1,881
Investment, Identifier [Axis]: CION/EagleTree, Anthem Sports and Entertainment Inc., Class B Preferred Stock Warrants, Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)		255		255
Investments, cost		$ 0		$ 0
Investments, at fair value:		$ 171		$ 187
Investment, Identifier [Axis]: CION/EagleTree, Anthem Sports and Entertainment Inc., Common Stock Warrants, Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)		4,746		4,746
Investments, cost		$ 0		$ 0
Investments, at fair value:		$ 96		$ 580
Investment, Identifier [Axis]: CION/EagleTree, BCP Great Lakes II - Series A Holdings LP, Partnership Equity
Schedule of Equity Method Investments [Line Items]
Ownership percentage		4.20%
Investments, cost		$ 13,100
Investments, at fair value:		$ 12,672
Investment, Identifier [Axis]: CION/EagleTree, BCP Great Lakes II - Series A Holdings LP, Partnership Interests, Equity
Schedule of Equity Method Investments [Line Items]
Ownership percentage				4.20%
Investments, cost				$ 11,436
Investments, at fair value:				$ 11,058
Investment, Identifier [Axis]: CION/EagleTree, Berlitz Holdings, Inc, Senior Secured First Lien Debt
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		9.00%		9.00%
Interest rate, floor		1.00%		1.00%
Principal amount		$ 1,200		$ 1,200
Investments, cost		1,141		1,125
Investments, at fair value:		$ 1,167		$ 1,146
Investment, Identifier [Axis]: CION/EagleTree, CHC Medical Partners, Inc., Series C Preferred Stock, Equity
Schedule of Equity Method Investments [Line Items]
Dividend rate		12.00%		12.00%
Principal units (in shares)		2,727,273		2,727,273
Investments, cost		$ 8,055		$ 7,891
Investments, at fair value:		$ 9,321		$ 8,877
Investment, Identifier [Axis]: CION/EagleTree, CTS Ultimate Holdings LLC, Class A Preferred Units, Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)		3,578,701		3,578,701
Investments, cost		$ 1,000		$ 1,000
Investments, at fair value:		$ 608		$ 859
Investment, Identifier [Axis]: CION/EagleTree, Carestream Health Holdings, Inc., Common Stock, Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)		613,262		613,262
Investments, cost		$ 21,759		$ 21,759
Investments, at fair value:		$ 20,716		$ 21,544
Investment, Identifier [Axis]: CION/EagleTree, Community Tree Service, LLC, Senior Secured First Lien Debt
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		11.00%		8.50%
Interest rate, floor		1.00%		1.00%
Principal amount		$ 460		$ 499
Investments, cost		460		499
Investments, at fair value:		$ 452		$ 489
Investment, Identifier [Axis]: CION/EagleTree, Dayton HoldCo, LLC, Membership Units, Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)		37,264		37,264
Investments, cost		$ 8,400		$ 8,400
Investments, at fair value:		$ 14,537		$ 15,334
Investment, Identifier [Axis]: CION/EagleTree, Dayton Superior Corp, Senior Secured Second Lien Debt
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate				7.00%
Interest rate, floor				2.00%
Principal amount				$ 1,010
Investments, cost				1,010
Investments, at fair value:				$ 1,007
Investment, Identifier [Axis]: CION/EagleTree, Future Pak, LLC, Senior Secured First Lien Debt
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		10.00%		8.00%
Interest rate, floor		2.00%		2.00%
Principal amount		$ 1,162		$ 1,395
Investments, cost		1,155		1,382
Investments, at fair value:		$ 1,162		$ 1,372
Investment, Identifier [Axis]: CION/EagleTree, HDNet Holdco LLC, Preferred Unit Call Option, Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)		1		1
Investments, cost		$ 0		$ 0
Investments, at fair value:		$ 100		$ 185
Investment, Identifier [Axis]: CION/EagleTree, HW Ultimate Holdings, LP, Class A Membership Units, Equity
Schedule of Equity Method Investments [Line Items]
Dividend rate		4.00%		4.00%
Principal units (in shares)		2,000,000		2,000,000
Investments, cost		$ 2,082		$ 2,082
Investments, at fair value:		$ 0		$ 130
Investment, Identifier [Axis]: CION/EagleTree, Ivy Hill Middle Market Credit Fund VIII, Ltd. Subordinated Loan, Collateralized Securities and Structured Products - Equity
Schedule of Equity Method Investments [Line Items]
Investment estimated yield		11.84%		11.84%
Principal amount		$ 10,000		$ 10,000
Investments, cost		9,796		9,874
Investments, at fair value:		$ 9,263		$ 9,523
Investment, Identifier [Axis]: CION/EagleTree, Language Education Holdings GP LLC, Common Units, Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)		133,333		133,333
Investments, cost		$ 0		$ 0
Investments, at fair value:		$ 0		$ 0
Investment, Identifier [Axis]: CION/EagleTree, Language Education Holdings LP, Ordinary Common Units, Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)		133,333		133,333
Investments, cost		$ 300		$ 300
Investments, at fair value:		$ 495		$ 427
Investment, Identifier [Axis]: CION/EagleTree, MedPlast Holdings, Inc, Senior Secured Second Lien Debt
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		7.75%		7.75%
Interest rate, floor		0.00%		0.00%
Principal amount		$ 6,750		$ 6,750
Investments, cost		6,206		6,135
Investments, at fair value:		$ 6,539		$ 6,337
Investment, Identifier [Axis]: CION/EagleTree, Skillsoft Corp., Class A Common Stock, Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)		243,425		243,425
Investments, cost		$ 2,000		$ 2,000
Investments, at fair value:		$ 302		$ 316
Investment, Identifier [Axis]: CION/EagleTree, Spinal USA, Inc. / Precision Medical Inc., Warrants, Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)		20,667,324		20,667,324
Investments, cost		$ 0		$ 0
Investments, at fair value:		$ 0		$ 0
Investment, Identifier [Axis]: CION/EagleTree, Zest Acquisition Corp, Senior Secured Second Lien Debt
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate				7.00%
Interest rate, floor				1.00%
Principal amount				$ 15,000
Investments, cost				14,820
Investments, at fair value:				$ 14,175
Investment, Identifier [Axis]: Cabi, LLC, Senior Secured First Lien Debt, 2/28/2027 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		5.50%	[4],[12],[31]	9.50%	[7],[10],[30]
Interest rate, floor		2.00%	[4],[12],[31]	1.00%	[7],[10],[30]
Principal amount		$ 21,576	[9],[12],[31]	$ 22,073	[10],[30]
Investments, cost		21,319	[12],[31]	21,772	[10],[30]
Investments, at fair value:		$ 21,522	[12],[31]	$ 21,742	[10],[30]
Investment, Identifier [Axis]: Cadence Aerospace, LLC, Senior Secured First Lien Debt, 11/14/2023 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[6],[7],[10],[11],[23]			8.50%
Interest rate, floor	[6],[7],[10],[11],[23]			1.00%
Principal amount	[6],[10],[11],[23]			$ 39,383
Investments, cost	[6],[10],[11],[23]			39,225
Investments, at fair value:	[6],[10],[11],[23]			$ 38,842
Investment, Identifier [Axis]: Cadence Aerospace, LLC, Senior Secured First Lien Debt, 11/14/2024 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[3],[4],[5],[12]	6.50%
Interest rate, floor	[3],[4],[5],[12]	1.00%
Principal amount	[3],[5],[9],[12]	$ 12,642
Investments, cost	[3],[5],[12]	12,610
Investments, at fair value:	[3],[5],[12]	$ 12,627
Investment, Identifier [Axis]: Carestream Health Holdings Inc., Common Stock, Equity Securities
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)		613,262	[9],[17],[18]	613,262	[19],[20]
Investments, cost		$ 21,758	[17],[18]	$ 21,758	[19],[20]
Investments, at fair value:		20,716	[17],[18]	21,544	[19],[20]
Investment, Identifier [Axis]: Carestream Health, Inc., First Lien Term Loan, Non-Controlled, Affiliated Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:		$ 11,423		$ 7,539		0
Investment, Identifier [Axis]: Carestream Health, Inc., Senior Secured First Lien Debt, 9/30/2027 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		7.50%	[3],[4],[17],[31]	7.50%	[6],[7],[19],[30]
Interest rate, floor		1.00%	[3],[4],[17],[31]	1.00%	[6],[7],[19],[30]
Principal amount		$ 11,481	[3],[9],[17],[31]	$ 7,596	[6],[19],[30]
Investments, cost		10,376	[3],[17],[31]	7,596	[6],[19],[30]
Investments, at fair value:		11,423	[3],[17],[31]	7,539	[6],[19],[30]
Investment, Identifier [Axis]: Carestream, Common Shares, Non-Controlled, Affiliated Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:		$ 20,716		$ 21,544		0
Investment, Identifier [Axis]: Celerity Acquisition Holdings, LLC, Senior Secured First Lien Debt, 5/28/2026 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		8.50%	[4],[5],[12]	8.50%	[7],[10],[11]
Interest rate, floor		1.00%	[4],[5],[12]	1.00%	[7],[10],[11]
Principal amount		$ 16,000	[5],[9],[12]	$ 14,775	[10],[11]
Investments, cost		15,976	[5],[12]	14,775	[10],[11]
Investments, at fair value:		16,000	[5],[12]	$ 14,590	[10],[11]
Investment, Identifier [Axis]: Cennox, Inc., Senior Secured First Lien Debt, 11/22/2023 Maturity, 4
Schedule of Equity Method Investments [Line Items]
Principal amount	[9]	7,193
Investments, cost		(45)
Investments, at fair value:		$ (27)
Investment, Identifier [Axis]: Cennox, Inc., Senior Secured First Lien Debt, 5/4/2026 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.00%	[4],[5],[12]	6.00%	[7],[10],[11]
Interest rate, floor		1.00%	[4],[5],[12]	1.00%	[7],[10],[11]
Principal amount		$ 22,455	[5],[9],[12]	$ 22,509	[10],[11]
Investments, cost		22,455	[5],[12]	22,509	[10],[11]
Investments, at fair value:		$ 22,371	[5],[12]	$ 22,425	[10],[11]
Investment, Identifier [Axis]: Cennox, Inc., Senior Secured First Lien Debt, 5/4/2026 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.00%	[3],[4],[5],[12]	6.00%	[6],[7],[11]
Interest rate, floor		1.00%	[3],[4],[5],[12]	1.00%	[6],[7],[11]
Principal amount		$ 11,552	[3],[5],[9],[12]	$ 11,787	[6],[11]
Investments, cost		11,548	[3],[5],[12]	11,730	[6],[11]
Investments, at fair value:		$ 11,509	[3],[5],[12]	$ 11,743	[6],[11]
Investment, Identifier [Axis]: Cennox, Inc., Senior Secured First Lien Debt, 5/4/2026 Maturity, 3
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.00%	[4],[5]	6.00%	[7]
Interest rate, floor		1.00%	[4],[5]	1.00%	[7]
Principal amount		$ 2,987	[5],[9]	$ 2,614
Investments, cost		2,987	[5]	2,614
Investments, at fair value:		$ 2,976	[5]	2,604
Investment, Identifier [Axis]: Cennox, Inc., Senior Secured First Lien Debt, 5/4/2026 Maturity, 5
Schedule of Equity Method Investments [Line Items]
Principal amount				373
Investments, cost				0
Investments, at fair value:				(1)
Investment, Identifier [Axis]: Cennox, Inc., Senior Secured First Lien Debt, 8/11/2023 Maturity, 4
Schedule of Equity Method Investments [Line Items]
Principal amount				7,193
Investments, cost				0
Investments, at fair value:				(27)
Investment, Identifier [Axis]: Charming Charlie, LLC, Vendor Payment Financing Facility, Non-Controlled, Affiliated Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:				$ 0		350
Investment, Identifier [Axis]: CircusTrix Holdings, LLC., Senior Secured First Lien Debt, 1/16/2024 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		5.50%	[3],[4],[12],[31]	5.50%	[6],[7],[10],[25]
Interest rate, floor		1.00%	[3],[4],[12],[31]	1.00%	[6],[7],[10],[25]
Principal amount		$ 26,702	[3],[9],[12],[31]	$ 26,824	[6],[10],[25]
Investments, cost		26,666	[3],[12],[31]	26,782	[6],[10],[25]
Investments, at fair value:		$ 26,702	[3],[12],[31]	$ 26,824	[6],[10],[25]
Investment, Identifier [Axis]: CircusTrix Holdings, LLC., Senior Secured First Lien Debt, 1/16/2024 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		5.50%	[4],[12],[31]	5.50%	[7],[10],[25]
Interest rate, floor		1.00%	[4],[12],[31]	1.00%	[7],[10],[25]
Principal amount		$ 2,719	[9],[12],[31]	$ 2,737	[10],[25]
Investments, cost		2,697	[12],[31]	2,715	[10],[25]
Investments, at fair value:		$ 2,719	[12],[31]	$ 2,737	[10],[25]
Investment, Identifier [Axis]: CircusTrix Holdings, LLC., Senior Secured First Lien Debt, 1/16/2024 Maturity, 3
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[10],[25]			5.50%
Interest rate, floor	[7],[10],[25]			1.00%
Principal amount	[10],[25]			$ 1,560
Investments, cost	[10],[25]			1,525
Investments, at fair value:	[10],[25]			$ 1,862
Investment, Identifier [Axis]: CircusTrix Holdings, LLC., Senior Secured First Lien Debt, 7/16/2023 Maturity, 3
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[12],[31]	5.50%
Interest rate, floor	[4],[12],[31]	1.00%
Principal amount	[9],[12],[31]	$ 753
Investments, cost	[12],[31]	751
Investments, at fair value:	[12],[31]	$ 902
Investment, Identifier [Axis]: Community Tree Service, LLC., Senior Secured First Lien Debt, 6/17/2027 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		11.00%	[4],[5],[12]	8.50%	[7],[8]
Interest rate, floor		1.00%	[4],[5],[12]	1.00%	[7],[8]
Principal amount		$ 11,513	[5],[9],[12]	$ 12,469	[8]
Investments, cost		11,513	[5],[12]	12,469	[8]
Investments, at fair value:		$ 11,312	[5],[12]	$ 12,219	[8]
Investment, Identifier [Axis]: Country Fresh Holdings, LLC., Senior Secured First Lien Debt, 4/29/2023 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.00%	[4],[22],[29]	5.00%	[7],[11],[28]
Interest rate, floor		1.00%	[4],[22],[29]	1.00%	[7],[11],[28]
Principal amount		$ 844	[9],[22],[29]	$ 877	[11],[28]
Investments, cost		663	[22],[29]	765	[11],[28]
Investments, at fair value:		$ 60	[22],[29]	$ 92	[11],[28]
Investment, Identifier [Axis]: Country Fresh Holdings, LLC., Senior Secured First Lien Debt, 4/29/2023 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.00%	[4],[22],[29]	5.00%	[7],[11],[28]
Interest rate, floor		1.00%	[4],[22],[29]	1.00%	[7],[11],[28]
Principal amount		$ 342	[9],[22],[29]	$ 355	[11],[28]
Investments, cost		276	[22],[29]	316	[11],[28]
Investments, at fair value:		$ 24	[22],[29]	$ 37	[11],[28]
Investment, Identifier [Axis]: Coyote Buyer, LLC., Senior Secured First Lien Debt, 2/6/2025 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.00%	[3],[4],[5],[12]	6.00%	[6],[7],[10],[11]
Interest rate, floor		1.00%	[3],[4],[5],[12]	1.00%	[6],[7],[10],[11]
Principal amount		$ 33,863	[3],[5],[9],[12]	$ 34,038	[6],[10],[11]
Investments, cost		33,729	[3],[5],[12]	33,861	[6],[10],[11]
Investments, at fair value:		$ 33,524	[3],[5],[12]	$ 33,612	[6],[10],[11]
Investment, Identifier [Axis]: Coyote Buyer, LLC., Senior Secured First Lien Debt, 2/6/2025 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.00%	[4],[5]	8.00%	[6],[7],[11]
Interest rate, floor		1.00%	[4],[5]	1.00%	[6],[7],[11]
Principal amount		$ 1,000	[5],[9]	$ 6,125	[6],[11]
Investments, cost		1,000	[5]	6,041	[6],[11]
Investments, at fair value:		990	[5]	6,125	[6],[11]
Investment, Identifier [Axis]: Coyote Buyer, LLC., Senior Secured First Lien Debt, 2/6/2025 Maturity, 3
Schedule of Equity Method Investments [Line Items]
Principal amount		1,500	[9]	2,500
Investments, cost		0		0
Investments, at fair value:		$ (15)		$ (31)
Investment, Identifier [Axis]: Coyote Buyer, LLC., Senior Secured First Lien Debt, 8/6/2026 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[3],[4],[5]	8.00%
Interest rate, floor	[3],[4],[5]	1.00%
Principal amount	[3],[5],[9]	$ 6,094
Investments, cost	[3],[5]	6,020
Investments, at fair value:	[3],[5]	$ 6,094
Investment, Identifier [Axis]: Critical Nurse Staffing, LLC., Senior Secured First Lien Debt, 11/1/2026 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		5.75%	[4],[5],[12]	6.00%	[7],[10],[11]
Interest rate, floor		1.00%	[4],[5],[12]	1.00%	[7],[10],[11]
Principal amount		$ 12,863	[5],[9],[12]	$ 12,928	[10],[11]
Investments, cost		12,863	[5],[12]	12,928	[10],[11]
Investments, at fair value:		$ 12,863	[5],[12]	$ 12,928	[10],[11]
Investment, Identifier [Axis]: Critical Nurse Staffing, LLC., Senior Secured First Lien Debt, 11/1/2026 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		5.75%	[4],[5],[12]	6.00%	[7],[11]
Interest rate, floor		1.00%	[4],[5],[12]	1.00%	[7],[11]
Principal amount		$ 994	[5],[9],[12]	$ 999	[11]
Investments, cost		994	[5],[12]	999	[11]
Investments, at fair value:		$ 994	[5],[12]	$ 999	[11]
Investment, Identifier [Axis]: Critical Nurse Staffing, LLC., Senior Secured First Lien Debt, 11/1/2026 Maturity, 3
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		5.75%	[4],[5]	6.00%	[7],[25]
Interest rate, floor		1.00%	[4],[5]	1.00%	[7],[25]
Principal amount		$ 460	[5],[9]	$ 300	[25]
Investments, cost		460	[5]	300	[25]
Investments, at fair value:		460	[5]	300	[25]
Investment, Identifier [Axis]: Critical Nurse Staffing, LLC., Senior Secured First Lien Debt, 11/1/2026 Maturity, 4
Schedule of Equity Method Investments [Line Items]
Principal amount		4,899	[9]	4,899
Investments, cost		0		0
Investments, at fair value:		0		0
Investment, Identifier [Axis]: Critical Nurse Staffing, LLC., Senior Secured First Lien Debt, 11/1/2026 Maturity, 5
Schedule of Equity Method Investments [Line Items]
Principal amount		540	[9]	700
Investments, cost		0		0
Investments, at fair value:		$ 0		$ 0
Investment, Identifier [Axis]: DBI Investors, Inc., Common Stock., Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)		39,423	[9],[18]	39,423	[20]
Investments, cost		$ 0	[18]	$ 0	[20]
Investments, at fair value:		$ 0	[18]	$ 0	[20]
Investment, Identifier [Axis]: DBI Investors, Inc., Reallocation Rights., Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)		7,500	[9],[18]	7,500	[20]
Investments, cost		$ 0	[18]	$ 0	[20]
Investments, at fair value:		$ 0	[18]	$ 0	[20]
Investment, Identifier [Axis]: DBI Investors, Inc., Series A Preferred Stock., Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)		1,396	[9],[18]	1,396	[20]
Investments, cost		$ 140	[18]	$ 140	[20]
Investments, at fair value:		$ 0	[18]	$ 2	[20]
Investment, Identifier [Axis]: DBI Investors, Inc., Series A1 Preferred Stock., Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)		20,000	[9],[18]	20,000	[20]
Investments, cost		$ 802	[18]	$ 802	[20]
Investments, at fair value:		$ 0	[18]	$ 28	[20]
Investment, Identifier [Axis]: DBI Investors, Inc., Series A2 Preferred Stock., Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)		1,733	[9],[18]	1,733	[20]
Investments, cost		$ 0	[18]	$ 0	[20]
Investments, at fair value:		$ 0	[18]	$ 2	[20]
Investment, Identifier [Axis]: DBI Investors, Inc., Series B Preferred Stock., Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)		4,183	[9],[18]	4,183	[20]
Investments, cost		$ 410	[18]	$ 410	[20]
Investments, at fair value:		0	[18]	2	[20]
Investment, Identifier [Axis]: DESG Holdings, Inc., First Lien Term Loan, Non-Controlled, Affiliated Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:		$ 130		246		1,787
Investment, Identifier [Axis]: DESG Holdings, Inc., Second Lien Term Loan, Non-Controlled, Affiliated Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:				$ 0		0
Investment, Identifier [Axis]: DMT Solutions Global Corp., Senior Secured First Lien Debt, 7/2/2024 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		7.50%	[3],[4],[34]	7.50%	[6],[7],[35]
Interest rate, floor		1.00%	[3],[4],[34]	1.00%	[6],[7],[35]
Principal amount		$ 3,846	[3],[9],[34]	$ 3,974	[6],[35]
Investments, cost		3,825	[3],[34]	3,942	[6],[35]
Investments, at fair value:		3,808	[3],[34]	3,766	[6],[35]
Investment, Identifier [Axis]: DMT Solutions Global Corp., Senior Secured First Lien Debt, 7/2/2024 Maturity, 3 Month LIBOR
Schedule of Equity Method Investments [Line Items]
Principal amount		1,750		2,096
Investment, Identifier [Axis]: DMT Solutions Global Corp., Senior Secured First Lien Debt, 7/2/2024 Maturity, 6 Month LIBOR
Schedule of Equity Method Investments [Line Items]
Principal amount		$ 2,096		$ 1,943
Investment, Identifier [Axis]: David's Bridal, LLC., Senior Secured First Lien Debt, 12/23/2024 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[21],[22],[29],[36]	10.00%
Interest rate, floor	[4],[21],[22],[29],[36]	1.00%
Principal amount	[9],[21],[22],[29],[36]	$ 6,014
Investments, cost	[21],[22],[29],[36]	5,457
Investments, at fair value:	[21],[22],[29],[36]	$ 0
Investment, Identifier [Axis]: David's Bridal, LLC., Senior Secured First Lien Debt, 12/31/2024 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[21],[22],[29],[36]	7.00%
Interest rate, floor	[4],[21],[22],[29],[36]	1.00%
Principal amount	[9],[21],[22],[29],[36]	$ 865
Investments, cost	[21],[22],[29],[36]	793
Investments, at fair value:	[21],[22],[29],[36]	$ 0
Investment, Identifier [Axis]: David's Bridal, LLC., Senior Secured First Lien Debt, 12/31/2024 Maturity, 4
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[23],[25],[28]			7.00%
Interest rate, floor	[7],[23],[25],[28]			1.00%
Principal amount	[23],[25],[28]			$ 845
Investments, cost	[23],[25],[28]			795
Investments, at fair value:	[23],[25],[28]			$ 51
Investment, Identifier [Axis]: David's Bridal, LLC., Senior Secured First Lien Debt, 5/23/2024 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		11.00%	[4],[12],[21],[22],[29],[36]	10.00%	[7],[10],[11],[23]
Interest rate, floor	[7],[10],[11],[23]			1.00%
Principal amount		$ 13,331	[9],[12],[21],[22],[29],[36]	$ 13,000	[10],[11],[23]
Investments, cost		12,419	[12],[21],[22],[29],[36]	12,744	[10],[11],[23]
Investments, at fair value:		$ 10,798	[12],[21],[22],[29],[36]	$ 13,130	[10],[11],[23]
Investment, Identifier [Axis]: David's Bridal, LLC., Senior Secured First Lien Debt, 5/23/2024 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		11.00%	[4],[12],[21],[22],[29],[36]	10.00%	[7],[11],[23]
Interest rate, floor	[7],[11],[23]			1.00%
Principal amount		$ 5,491	[9],[12],[21],[22],[29],[36]	$ 5,357	[11],[23]
Investments, cost		5,426	[12],[21],[22],[29],[36]	5,357	[11],[23]
Investments, at fair value:		4,448	[12],[21],[22],[29],[36]	$ 5,210	[11],[23]
Investment, Identifier [Axis]: David's Bridal, LLC., Senior Secured First Lien Debt, 5/23/2024 Maturity, 3
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[11],[23]			10.00%
Interest rate, floor	[7],[11],[23]			1.00%
Principal amount	[11],[23]			$ 5,936
Investments, cost	[11],[23]			5,717
Investments, at fair value:	[11],[23]			2,256
Investment, Identifier [Axis]: Delayed Draw First Lien Term Loan, Non-Controlled, Affiliated Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:		$ 0		$ 156
Investment, Identifier [Axis]: Deluxe Entertainment Services, Inc., Senior Secured First Lien Debt, 3/25/2024 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.50%	[4],[12],[17],[21],[22],[29]	6.50%	[7],[10],[11],[19],[23],[28]
Interest rate, floor		1.00%	[4],[12],[17],[21],[22],[29]	1.00%	[7],[10],[11],[19],[23],[28]
Principal amount		$ 2,603	[9],[12],[17],[21],[22],[29]	$ 2,664	[10],[11],[19],[23],[28]
Investments, cost		2,542	[12],[17],[21],[22],[29]	2,624	[10],[11],[19],[23],[28]
Investments, at fair value:		130	[12],[17],[21],[22],[29]	246	[10],[11],[19],[23],[28]
Investment, Identifier [Axis]: Dermcare Management, LLC., Senior Secured First Lien Debt, 10/22/2023 Maturity, 4
Schedule of Equity Method Investments [Line Items]
Principal amount		698	[9]	698
Investments, cost		0		0
Investments, at fair value:		$ 0		$ (4)
Investment, Identifier [Axis]: Dermcare Management, LLC., Senior Secured First Lien Debt, 4/22/2028 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.00%	[4],[12],[31]	6.00%	[7],[10],[30]
Interest rate, floor		1.00%	[4],[12],[31]	1.00%	[7],[10],[30]
Principal amount		$ 9,309	[9],[12],[31]	$ 9,356	[10],[30]
Investments, cost		9,147	[12],[31]	9,178	[10],[30]
Investments, at fair value:		$ 9,309	[12],[31]	$ 9,297	[10],[30]
Investment, Identifier [Axis]: Dermcare Management, LLC., Senior Secured First Lien Debt, 4/22/2028 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.00%	[4],[12],[31]	6.00%	[7],[30]
Interest rate, floor		1.00%	[4],[12],[31]	1.00%	[7],[30]
Principal amount		$ 3,523	[9],[12],[31]	$ 3,540	[30]
Investments, cost		3,447	[12],[31]	3,458	[30]
Investments, at fair value:		$ 3,523	[12],[31]	$ 3,518	[30]
Investment, Identifier [Axis]: Dermcare Management, LLC., Senior Secured First Lien Debt, 4/22/2028 Maturity, 3
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.00%	[4]	5.00%	[7]
Principal amount		$ 358	[9]	$ 179
Investments, cost		358		179
Investments, at fair value:		358		178
Investment, Identifier [Axis]: Dermcare Management, LLC., Senior Secured First Lien Debt, 4/22/2028 Maturity, 5
Schedule of Equity Method Investments [Line Items]
Principal amount		985	[9]	1,164
Investments, cost		0		0
Investments, at fair value:		$ 0		$ (7)
Investment, Identifier [Axis]: Emerald Technologies (U.S.) Acquisitionco, Inc.., Senior Secured First Lien Debt, 12/29/2027 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.25%	[3],[4],[31]	6.25%	[6],[7],[30]
Interest rate, floor		1.00%	[3],[4],[31]	1.00%	[6],[7],[30]
Principal amount		$ 2,906	[3],[9],[31]	$ 2,944	[6],[30]
Investments, cost		2,859	[3],[31]	2,891	[6],[30]
Investments, at fair value:		2,805	[3],[31]	2,794	[6],[30]
Investment, Identifier [Axis]: Entertainment Studios P&A LLC., Senior Secured First Lien Debt, 5/18/2037 Maturity
Schedule of Equity Method Investments [Line Items]
Principal amount	[9],[37]	0
Investments, cost	[37]	0
Investments, at fair value:	[37]	$ 1,045
Investment, Identifier [Axis]: Entertainment Studios P&A LLC., Senior Secured First Lien Debt, 5/18/2037 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Principal amount	[38]			0
Investments, cost	[38]			0
Investments, at fair value:	[38]			$ 1,654
Investment, Identifier [Axis]: Entertainment Studios P&A LLC., Senior Secured First Lien Debt, 9/28/2027 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate, floor	[4],[5],[12]	1.00%
Principal amount	[5],[9],[12]	$ 23,049
Investments, cost	[5],[12]	22,965
Investments, at fair value:	[5],[12]	$ 23,049
Investment, Identifier [Axis]: Entertainment Studios P&A LLC., Senior Secured First Lien Debt, 9/28/2027 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate, floor	[7],[8],[10],[11]			1.00%
Principal amount	[8],[10],[11]			$ 24,000
Investments, cost	[8],[10],[11]			23,907
Investments, at fair value:	[8],[10],[11]			$ 23,940
Investment, Identifier [Axis]: FWS Parent Holdings, LLC, Class A Membership Interests, Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)	[9],[18]	35,242
Investments, cost	[18]	$ 800
Investments, at fair value:	[18]	467
Investment, Identifier [Axis]: FWS Parent Holdings, LLC. Class A Membership Interests, Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)	[20]			35,242
Investments, cost	[20]			$ 800
Investments, at fair value:	[20]			742
Investment, Identifier [Axis]: First American Treasury Obligations Fund, Class Z Shares
Schedule of Equity Method Investments [Line Items]
Investments, cost		1,443
Investments, at fair value:		1,443
Investment, Identifier [Axis]: First American Treasury Obligations Fund, Class Z Shares, Short Term Investments
Schedule of Equity Method Investments [Line Items]
Investments, cost		100,771
Investments, at fair value:		$ 100,771
Investment, Identifier [Axis]: First American Treasury Obligations Fund., Short Term Investments
Schedule of Equity Method Investments [Line Items]
Investments, cost				10,869
Investments, at fair value:				$ 10,869
Investment, Identifier [Axis]: Flatworld Intermediate Corp., Senior Secured First Lien Debt, 10/3/2027 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[6],[7],[30]			6.00%
Interest rate, floor	[6],[7],[30]			1.00%
Principal amount	[6],[30]			$ 25,135
Investments, cost	[6],[30]			25,135
Investments, at fair value:	[6],[30]			25,135
Investment, Identifier [Axis]: Flatworld Intermediate Corp., Senior Secured First Lien Debt, 10/3/2027 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Principal amount				5,865
Investments, cost				0
Investments, at fair value:				$ 0
Investment, Identifier [Axis]: Flatworld Intermediate Corp.., Senior Secured First Lien Debt, 10/3/2027 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[3],[4],[5]	6.50%
Interest rate, floor	[3],[4],[5]	1.00%
Principal amount	[3],[5],[9]	$ 25,009
Investments, cost	[3],[5]	25,009
Investments, at fair value:	[3],[5]	25,197
Investment, Identifier [Axis]: Flatworld Intermediate Corp.., Senior Secured First Lien Debt, 10/3/2027 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Principal amount	[9]	5,865
Investments, cost		0
Investments, at fair value:		$ 44
Investment, Identifier [Axis]: Florida Food Products, LLC, 10/18/2028 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4]	5.00%
Interest rate, floor	[4]	0.75%
Principal amount	[9]	$ 2,244
Investments, cost		1,863
Investments, at fair value:		$ 1,930
Investment, Identifier [Axis]: FuseFX, LLC., Senior Secured First Lien Debt, 10/1/2024 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.00%	[3],[4],[5],[12]	5.75%	[6],[7],[10],[25]
Interest rate, floor		1.00%	[3],[4],[5],[12]	1.00%	[6],[7],[10],[25]
Principal amount		$ 19,693	[3],[5],[9],[12]	$ 19,795	[6],[10],[25]
Investments, cost		19,610	[3],[5],[12]	19,663	[6],[10],[25]
Investments, at fair value:		$ 19,398	[3],[5],[12]	$ 19,647	[6],[10],[25]
Investment, Identifier [Axis]: Fusion Connect Inc., Senior Secured First Lien Debt, 1/18/2027 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		8.50%	[4],[5],[12],[21]	8.50%	[7],[10],[11],[23]
Interest rate, floor		1.00%	[4],[5],[12],[21]	1.00%	[7],[10],[11],[23]
Principal amount		$ 19,540	[5],[9],[12],[21]	$ 19,626	[10],[11],[23]
Investments, cost		19,113	[5],[12],[21]	19,141	[10],[11],[23]
Investments, at fair value:		$ 19,540	[5],[12],[21]	$ 19,626	[10],[11],[23]
Investment, Identifier [Axis]: Future Pak, LLC., Senior Secured First Lien Debt, 7/2/2024 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		10.00%	[4],[12],[31]	10.00%	[7],[10],[25]
Interest rate, floor		2.00%	[4],[12],[31]	2.00%	[7],[10],[25]
Principal amount		$ 20,128	[9],[12],[31]	$ 24,169	[10],[25]
Investments, cost		20,128	[12],[31]	24,169	[10],[25]
Investments, at fair value:		20,128	[12],[31]	23,776	[10],[25]
Investment, Identifier [Axis]: GSC Technologies Inc., Common Shares, Non-Controlled, Affiliated Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:		$ 0		$ 0		0
Investment, Identifier [Axis]: GSC Technologies Inc., Common Shares., Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)		807,268	[9],[17],[18]	807,268	[19],[20]
Investments, cost		$ 0	[17],[18]	$ 0	[19],[20]
Investments, at fair value:		0	[17],[18]	0	[19],[20]
Investment, Identifier [Axis]: GSC Technologies Inc., First Lien Term Loan A, Non-Controlled, Affiliated Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:		2,127		2,064		2,001
Investment, Identifier [Axis]: GSC Technologies Inc., First Lien Term Loan B, Non-Controlled, Affiliated Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:		694		388		485
Investment, Identifier [Axis]: GSC Technologies Inc., Incremental Term Loan, Non-Controlled, Affiliated Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:		$ 0		$ 154		170
Investment, Identifier [Axis]: GSC Technologies Inc., Senior Secured First Lien Debt, 9/30/2025 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		5.00%	[4],[17],[31]	5.00%	[7],[19],[25]
Interest rate, floor		1.00%	[4],[17],[31]	1.00%	[7],[19],[25]
Principal amount		$ 2,404	[9],[17],[31]	$ 2,404	[19],[25]
Investments, cost		2,336	[17],[31]	2,322	[19],[25]
Investments, at fair value:		$ 2,127	[17],[31]	$ 2,064	[19],[25]
Investment, Identifier [Axis]: GSC Technologies Inc., Senior Secured First Lien Debt, 9/30/2025 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		5.00%	[4],[17],[21],[31]	5.00%	[7],[19],[23],[25]
Interest rate, floor		1.00%	[4],[17],[21],[31]	1.00%	[7],[19],[23],[25]
Principal amount		$ 957	[9],[17],[21],[31]	$ 915	[19],[23],[25]
Investments, cost		930	[17],[21],[31]	882	[19],[23],[25]
Investments, at fair value:		$ 694	[17],[21],[31]	$ 388	[19],[23],[25]
Investment, Identifier [Axis]: GSC Technologies Inc., Senior Secured First Lien Debt, 9/30/2025 Maturity, 3
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[11],[19],[23]			10.00%
Interest rate, floor	[7],[11],[19],[23]			1.00%
Principal amount	[11],[19],[23]			$ 154
Investments, cost	[11],[19],[23]			154
Investments, at fair value:	[11],[19],[23]			$ 154
Investment, Identifier [Axis]: Galaxy XV CLO Ltd. Class A Subordinated Notes., Collateralized Securities and Structured Products - Equity, 4/15/2025 Maturity
Schedule of Equity Method Investments [Line Items]
Investment estimated yield		19.30%	[4],[13],[14]	19.30%	[15],[16]
Principal amount		$ 4,000	[9],[13],[14]	$ 4,000	[15],[16]
Investments, cost		1,293	[13],[14]	1,441	[15],[16]
Investments, at fair value:		$ 1,033	[13],[14]	$ 1,108	[15],[16]
Investment, Identifier [Axis]: Global Tel*Link Corp., Senior Secured Second Lien Debt, 11/29/2026 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		10.00%	[3],[4],[5]	10.00%	[6],[7],[8]
Interest rate, floor		0.00%	[3],[4],[5]	0.00%	[6],[7],[8]
Principal amount		$ 11,500	[3],[5],[9]	$ 11,500	[6],[8]
Investments, cost		11,393	[3],[5]	11,378	[6],[8]
Investments, at fair value:		$ 11,428	[3],[5]	$ 11,414	[6],[8]
Investment, Identifier [Axis]: Gold Medal Holdings, Inc., Senior Secured First Lien Debt, 3/17/2027 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		7.00%	[4],[5],[12]	7.00%	[7],[8],[10]
Interest rate, floor		1.00%	[4],[5],[12]	1.00%	[7],[8],[10]
Principal amount		$ 14,722	[5],[9],[12]	$ 14,759	[8],[10]
Investments, cost		14,606	[5],[12]	14,628	[8],[10]
Investments, at fair value:		$ 14,722	[5],[12]	$ 14,575	[8],[10]
Investment, Identifier [Axis]: H.W. Lochner, Inc., Senior Secured First Lien Debt, 7/2/2027 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.75%	[4],[5],[12]	5.75%	[7],[10],[11]
Interest rate, floor		1.00%	[4],[5],[12]	1.00%	[7],[10],[11]
Principal amount		$ 10,373	[5],[9],[12]	$ 8,850	[10],[11]
Investments, cost		11,612	[5],[12]	8,779	[10],[11]
Investments, at fair value:		$ 10,463	[5],[12]	$ 8,850	[10],[11]
Investment, Identifier [Axis]: H.W. Lochner, Inc., Senior Secured First Lien Debt, 7/2/2027 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.25%	[4],[5],[12]	6.75%	[7],[8],[10]
Interest rate, floor		1.00%	[4],[5],[12]	1.00%	[7],[8],[10]
Principal amount		$ 8,805	[5],[9],[12]	$ 7,457	[8],[10]
Investments, cost		7,221	[5],[12]	7,234	[8],[10]
Investments, at fair value:		$ 8,827	[5],[12]	$ 7,233	[8],[10]
Investment, Identifier [Axis]: H.W. Lochner, Inc., Senior Secured First Lien Debt, 7/2/2027 Maturity, 3
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.25%	[4],[5]	5.75%	[7],[11]
Interest rate, floor		1.00%	[4],[5]	1.00%	[7],[11]
Principal amount		$ 775	[5],[9]	$ 775	[11]
Investments, cost		765	[5]	765	[11]
Investments, at fair value:		777	[5]	775	[11]
Investment, Identifier [Axis]: H.W. Lochner, Inc., Senior Secured First Lien Debt, 7/2/2027 Maturity, 4
Schedule of Equity Method Investments [Line Items]
Principal amount		225	[9]	225
Investments, cost		0		0
Investments, at fair value:		$ 1		$ 0
Investment, Identifier [Axis]: HUMC Holdco, LLC., Senior Secured First Lien Debt, 11/4/2023 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[8],[10]			8.00%
Interest rate, floor		3.00%	[4],[12],[22]	3.00%	[7],[8],[10]
Principal amount		$ 7,805	[9],[12],[22]	$ 7,933	[8],[10]
Investments, cost		7,805	[12],[22]	7,933	[8],[10]
Investments, at fair value:		$ 7,805	[12],[22]	$ 7,933	[8],[10]
Investment, Identifier [Axis]: HW Acquisition, LLC., Senior Secured First Lien Debt, 9/28/2026 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		5.00%	[4],[12]	5.00%	[7]
Principal amount		$ 18,781	[9],[12]	$ 733
Investments, cost		18,652	[12]	711
Investments, at fair value:		$ 15,165	[12]	$ 686
Investment, Identifier [Axis]: HW Acquisition, LLC., Senior Secured First Lien Debt, 9/28/2026 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		5.00%	[4]	5.00%	[7],[10]
Principal amount		$ 733	[9]	$ 18,876	[10]
Investments, cost		714		18,725	[10]
Investments, at fair value:		592		17,649	[10]
Investment, Identifier [Axis]: HW Acquisition, LLC., Senior Secured First Lien Debt, 9/28/2026 Maturity, 3
Schedule of Equity Method Investments [Line Items]
Principal amount		2,200	[9]	2,200
Investments, cost		0		0
Investments, at fair value:		$ (424)		$ (143)
Investment, Identifier [Axis]: Harland Clarke Holdings Corp., Senior Secured First Lien Debt, 6/16/2026 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		7.75%	[4],[5],[12]	7.75%	[7],[10],[11]
Interest rate, floor		1.00%	[4],[5],[12]	1.00%	[7],[10],[11]
Principal amount		$ 9,186	[5],[9],[12]	$ 9,186	[10],[11]
Investments, cost		9,180	[5],[12]	9,177	[10],[11]
Investments, at fair value:		$ 8,727	[5],[12]	$ 7,625	[10],[11]
Investment, Identifier [Axis]: Heritage Power, LLC., Senior Secured First Lien Debt, 7/30/2026 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		5.00%	[4]	6.00%	[7],[11]
Interest rate, floor	[7],[11]			1.00%
Principal amount		$ 8,622	[9]	$ 8,622	[11]
Investments, cost		6,979		6,837	[11]
Investments, at fair value:		$ 3,794		$ 4,527	[11]
Investment, Identifier [Axis]: Hilliard, Martinez & Gonzales, LLP., Senior Secured First Lien Debt, 12/17/2023 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		12.00%	[4],[12],[21],[31]	12.00%	[7],[10],[23],[25]
Interest rate, floor		2.00%	[4],[12],[21],[31]	2.00%	[7],[10],[23],[25]
Principal amount		$ 23,703	[9],[12],[21],[31]	$ 21,798	[10],[23],[25]
Investments, cost		23,681	[12],[21],[31]	21,736	[10],[23],[25]
Investments, at fair value:		$ 23,733	[12],[21],[31]	$ 21,798	[10],[23],[25]
Investment, Identifier [Axis]: Hollander Intermediate LLC., Senior Secured First Lien Debt, 9/19/2026 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		8.75%	[4],[5],[12]	8.75%	[7],[8],[10],[25]
Interest rate, floor		2.00%	[4],[5],[12]	2.00%	[7],[8],[10],[25]
Principal amount		$ 17,140	[5],[9],[12]	$ 17,358	[8],[10],[25]
Investments, cost		16,740	[5],[12]	16,915	[8],[10],[25]
Investments, at fair value:		16,711	[5],[12]	16,794	[8],[10],[25]
Investment, Identifier [Axis]: Homer City Generation, L.P., Senior Secured First Lien Debt, 1/29/2023 Maturity, 3
Schedule of Equity Method Investments [Line Items]
Principal amount	[20]			3,000
Investments, cost	[20]			0
Investments, at fair value:	[20]			0
Investment, Identifier [Axis]: Homer City Generation, L.P., Senior Secured First Lien Debt, 10/1/2024 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Principal amount	[9],[12],[21],[29]	12,222
Investments, cost	[12],[21],[29]	12,024
Investments, at fair value:	[12],[21],[29]	8,128
Investment, Identifier [Axis]: Homer City Generation, L.P., Senior Secured First Lien Debt, 4/5/2023 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Principal amount	[10],[23]			11,782
Investments, cost	[10],[23]			12,078
Investments, at fair value:	[10],[23]			9,308
Investment, Identifier [Axis]: Homer City Generation, L.P., Senior Secured First Lien Debt, 5/31/2023 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Principal amount				1,000
Investments, cost				1,000
Investments, at fair value:				$ 1,000
Investment, Identifier [Axis]: Homer City Generation, L.P., Senior Secured First Lien Debt, 5/31/2023 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Principal amount	[9],[21]	1,000
Investments, cost	[21]	1,000
Investments, at fair value:	[21]	$ 1,015
Investment, Identifier [Axis]: Hudson Hospital Opco, LLC, Senior Secured First Lien Debt, 11/4/2024 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[6],[7],[8],[10]			8.00%
Interest rate, floor	[6],[7],[8],[10]			3.00%
Principal amount	[6],[8],[10]			$ 1,700
Investments, cost	[6],[8],[10]			1,667
Investments, at fair value:	[6],[8],[10]			$ 1,673
Investment, Identifier [Axis]: Hudson Hospital Opco, LLC., Senior Secured First Lien Debt, 11/4/2023 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[3],[4],[12],[31]	8.00%
Interest rate, floor	[3],[4],[12],[31]	3.00%
Principal amount	[3],[9],[12],[31]	$ 2,186
Investments, cost	[3],[12],[31]	2,149
Investments, at fair value:	[3],[12],[31]	$ 2,169
Investment, Identifier [Axis]: ICA Foam Holdings, LLC, Senior Secured First Lien Debt, 11/5/2025 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[8],[10]			6.75%
Interest rate, floor	[7],[8],[10]			1.00%
Principal amount	[8],[10]			$ 19,950
Investments, cost	[8],[10]			19,567
Investments, at fair value:	[8],[10]			$ 19,551
Investment, Identifier [Axis]: ICA Foam Holdings, LLC., Senior Secured First Lien Debt, 11/5/2025 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[5],[12]	7.25%
Interest rate, floor	[4],[5],[12]	1.00%
Principal amount	[5],[9],[12]	$ 19,850
Investments, cost	[5],[12]	19,539
Investments, at fair value:	[5],[12]	$ 19,453
Investment, Identifier [Axis]: IJKG Opco LLC, Senior Secured First Lien Debt, 11/4/2023 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[6],[7],[8],[10]			8.00%
Interest rate, floor	[6],[7],[8],[10]			3.00%
Principal amount	[6],[8],[10]			$ 729
Investments, cost	[6],[8],[10]			714
Investments, at fair value:	[6],[8],[10]			$ 718
Investment, Identifier [Axis]: IJKG Opco LLC., Senior Secured First Lien Debt, 11/4/2023 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[3],[4],[12],[31]	8.00%
Interest rate, floor	[3],[4],[12],[31]	3.00%
Principal amount	[3],[9],[12],[31]	$ 1,457
Investments, cost	[3],[12],[31]	1,436
Investments, at fair value:	[3],[12],[31]	$ 1,446
Investment, Identifier [Axis]: INW Manufacturing, LLC., Senior Secured First Lien Debt, 3/25/2027 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		5.75%	[3],[4],[22]	5.75%	[6],[7],[11]
Interest rate, floor		0.75%	[3],[4],[22]	0.75%	[6],[7],[11]
Principal amount		$ 18,250	[3],[9],[22]	$ 18,750	[6],[11]
Investments, cost		17,871	[3],[22]	18,317	[6],[11]
Investments, at fair value:		16,813	[3],[22]	17,766	[6],[11]
Investment, Identifier [Axis]: IPP Buyer Holdings, LLC
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:		$ 11,733		$ 0
Investment, Identifier [Axis]: IPP Buyer Holdings, LLC., Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)	[9],[17],[18]	8,888,354
Investments, cost	[17],[18]	$ 10,740
Investments, at fair value:	[17],[18]	$ 11,733
Investment, Identifier [Axis]: Independent Pet Partners Intermediate Holdings, LLC, Class A Preferred Units., Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)	[20]			1,000,000
Investments, cost	[20]			$ 1,000
Investments, at fair value:	[20]			$ 60
Investment, Identifier [Axis]: Independent Pet Partners Intermediate Holdings, LLC, Class B-2 Preferred Units., Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)	[10],[20]			2,632,771
Investments, cost	[10],[20]			$ 2,133
Investments, at fair value:	[10],[20]			$ 3,238
Investment, Identifier [Axis]: Independent Pet Partners Intermediate Holdings, LLC, Class C Preferred Units., Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)	[10],[20]			2,632,771
Investments, cost	[10],[20]			$ 2,633
Investments, at fair value:	[10],[20]			$ 2,238
Investment, Identifier [Axis]: Independent Pet Partners Intermediate Holdings, LLC, Warrants., Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)	[20]			155,880
Investments, cost	[20]			$ 0
Investments, at fair value:	[20]			0
Investment, Identifier [Axis]: Independent Pet Partners Intermediate Holdings, LLC., Senior Secured First Lien Debt, 11/20/2023 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Principal amount	[23]			10,934
Investments, cost	[23]			10,906
Investments, at fair value:	[23]			$ 10,169
Investment, Identifier [Axis]: Independent Pet Partners Intermediate Holdings, LLC., Senior Secured First Lien Debt, 2/27/2023 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[23]			5.50%
Principal amount	[23]			$ 2,238
Investments, cost	[23]			2,238
Investments, at fair value:	[23]			$ 2,216
Investment, Identifier [Axis]: Independent Pet Partners Intermediate Holdings, LLC., Senior Secured First Lien Debt, 2/27/2023 Maturity, 3
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[11],[23]			6.50%
Interest rate, floor	[7],[11],[23]			0.00%
Principal amount	[11],[23]			$ 281
Investments, cost	[11],[23]			281
Investments, at fair value:	[11],[23]			$ 278
Investment, Identifier [Axis]: Independent Pet Partners Intermediate Holdings, LLC., Senior Secured First Lien Debt, 2/27/2023 Maturity, 4
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[8],[23]			10.00%
Interest rate, floor	[7],[8],[23]			1.00%
Principal amount	[8],[23]			$ 473
Investments, cost	[8],[23]			459
Investments, at fair value:	[8],[23]			$ 473
Investment, Identifier [Axis]: Infogroup Inc., Senior Secured First Lien Debt, 4/3/2023 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[6],[7],[10],[11]			5.00%
Interest rate, floor	[6],[7],[10],[11]			1.00%
Principal amount	[6],[10],[11]			$ 15,270
Investments, cost	[6],[10],[11]			15,269
Investments, at fair value:	[6],[10],[11]			$ 15,270
Investment, Identifier [Axis]: Inotiv, Inc., Senior Secured First Lien Debt, 11/5/2026 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[12],[26]	6.75%
Interest rate, floor	[4],[12],[26]	1.00%
Principal amount	[9],[12],[26]	$ 16,365
Investments, cost	[12],[26]	16,144
Investments, at fair value:	[12],[26]	15,793
Investment, Identifier [Axis]: Inotiv, Inc., Senior Secured First Lien Debt, 11/5/2026 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[10],[11]			6.25%
Interest rate, floor	[7],[10],[11]			1.00%
Principal amount	[10],[11]			$ 16,351
Investments, cost	[10],[11]			16,094
Investments, at fair value:	[10],[11]			15,738
Investment, Identifier [Axis]: Instant Web Holdings, LLC, Class A Common Units, Non-Controlled, Affiliated Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:		$ 0		$ 0		0
Investment, Identifier [Axis]: Instant Web Holdings, LLC, Class A Common Units., Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)		10,819	[9],[17],[18]	10,819	[19],[20]
Investments, cost		$ 0	[17],[18]	$ 0	[19],[20]
Investments, at fair value:		0	[17],[18]	0	[19],[20]
Investment, Identifier [Axis]: Instant Web, LLC, First Lien Delayed Draw Term Loan, Non-Controlled, Affiliated Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:		(89)		0		0
Investment, Identifier [Axis]: Instant Web, LLC, First Lien Term Loan, Non-Controlled, Affiliated Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:		25,349		28,167		0
Investment, Identifier [Axis]: Instant Web, LLC, Priming Term Loan, Non-Controlled, Affiliated Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:		479		469		0
Investment, Identifier [Axis]: Instant Web, LLC, Revolving Loan, Non-Controlled, Affiliated Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:		$ 2,339		$ 321		0
Investment, Identifier [Axis]: Instant Web, LLC., Senior Secured First Lien Debt, 2/25/2027 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		7.00%	[4],[17],[21],[31]	7.00%	[6],[7],[10],[19],[23],[25]
Interest rate, floor		1.00%	[4],[17],[21],[31]	1.00%	[6],[7],[10],[19],[23],[25]
Principal amount		$ 42,249	[9],[17],[21],[31]	$ 39,812	[6],[10],[19],[23],[25]
Investments, cost		42,249	[17],[21],[31]	39,802	[6],[10],[19],[23],[25]
Investments, at fair value:		$ 25,349	[17],[21],[31]	$ 28,167	[6],[10],[19],[23],[25]
Investment, Identifier [Axis]: Instant Web, LLC., Senior Secured First Lien Debt, 2/25/2027 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.50%	[4],[17],[21],[31]	3.75%	[7],[19]
Interest rate, floor	[4],[17],[21],[31]	1.00%
Principal amount		$ 2,414	[9],[17],[21],[31]	$ 458	[19]
Investments, cost		2,414	[17],[21],[31]	458	[19]
Investments, at fair value:		$ 2,348	[17],[21],[31]	$ 469	[19]
Investment, Identifier [Axis]: Instant Web, LLC., Senior Secured First Lien Debt, 2/25/2027 Maturity, 3
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		3.75%	[4],[17],[21]	6.50%	[7],[11],[19]
Interest rate, floor	[7],[11],[19]			1.00%
Principal amount		$ 467	[9],[17],[21]	$ 321	[11],[19]
Investments, cost		467	[17],[21]	321	[11],[19]
Investments, at fair value:		479	[17],[21]	321	[11],[19]
Investment, Identifier [Axis]: Instant Web, LLC., Senior Secured First Lien Debt, 2/25/2027 Maturity, 4
Schedule of Equity Method Investments [Line Items]
Principal amount		328	[9],[17]	2,383	[19]
Investments, cost		0	[17]	0	[19]
Investments, at fair value:		(9)	[17]	0	[19]
Investment, Identifier [Axis]: Instant Web, LLC., Senior Secured First Lien Debt, 2/25/2027 Maturity, 5
Schedule of Equity Method Investments [Line Items]
Principal amount		3,246	[9],[17]	3,246	[19]
Investments, cost		0	[17]	0	[19]
Investments, at fair value:		$ (89)	[17]	$ 0	[19]
Investment, Identifier [Axis]: Invincible Boat Company LLC., Senior Secured First Lien Debt, 8/28/2025 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.50%	[4],[12],[22]	6.50%	[7],[10],[11]
Interest rate, floor		1.50%	[4],[12],[22]	1.50%	[7],[10],[11]
Principal amount		$ 13,536	[9],[12],[22]	$ 13,536	[10],[11]
Investments, cost		13,464	[12],[22]	13,444	[10],[11]
Investments, at fair value:		$ 13,536	[12],[22]	$ 13,469	[10],[11]
Investment, Identifier [Axis]: Invincible Boat Company LLC., Senior Secured First Lien Debt, 8/28/2025 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.50%	[4],[22]	6.50%	[7],[11]
Interest rate, floor		1.50%	[4],[22]	1.50%	[7],[11]
Principal amount		$ 479	[9],[22]	$ 239	[11]
Investments, cost		479	[22]	239	[11]
Investments, at fair value:		479	[22]	238	[11]
Investment, Identifier [Axis]: Invincible Boat Company LLC., Senior Secured First Lien Debt, 8/28/2025 Maturity, 3
Schedule of Equity Method Investments [Line Items]
Principal amount		319	[9]	559
Investments, cost		0		0
Investments, at fair value:		$ 0		$ (3)
Investment, Identifier [Axis]: Ironhorse Purchaser, LLC, Senior Secured First Lien Debt, 9/30/2027 Maturity 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[6],[7],[8]			6.50%
Interest rate, floor	[6],[7],[8]			1.00%
Principal amount	[6],[8]			$ 7,125
Investments, cost	[6],[8]			7,056
Investments, at fair value:	[6],[8]			$ 7,054
Investment, Identifier [Axis]: Ironhorse Purchaser, LLC, Senior Secured First Lien Debt, 9/30/2027 Maturity 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[8]			6.50%
Interest rate, floor	[7],[8]			1.00%
Principal amount	[8]			$ 388
Investments, cost	[8]			380
Investments, at fair value:	[8]			384
Investment, Identifier [Axis]: Ironhorse Purchaser, LLC, Senior Secured First Lien Debt, 9/30/2027 Maturity 3
Schedule of Equity Method Investments [Line Items]
Principal amount				429
Investments, cost				0
Investments, at fair value:				(4)
Investment, Identifier [Axis]: Ironhorse Purchaser, LLC, Senior Secured First Lien Debt, 9/30/2027 Maturity 4
Schedule of Equity Method Investments [Line Items]
Principal amount				2,041
Investments, cost				(20)
Investments, at fair value:				(20)
Investment, Identifier [Axis]: Ironhorse Purchaser, LLC., Senior Secured First Lien Debt, 9/30/2024 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[5]	6.50%
Interest rate, floor	[4],[5]	1.00%
Principal amount	[5],[9]	$ 2,031
Investments, cost	[5]	2,014
Investments, at fair value:	[5]	$ 2,031
Investment, Identifier [Axis]: Ironhorse Purchaser, LLC., Senior Secured First Lien Debt, 9/30/2027 Maturity 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[3],[4],[5]	6.50%
Interest rate, floor	[3],[4],[5]	1.00%
Principal amount	[3],[5],[9]	$ 7,089
Investments, cost	[3],[5]	7,028
Investments, at fair value:	[3],[5]	$ 7,089
Investment, Identifier [Axis]: Ironhorse Purchaser, LLC., Senior Secured First Lien Debt, 9/30/2027 Maturity 3
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[5]	6.50%
Interest rate, floor	[4],[5]	1.00%
Principal amount	[5],[9]	$ 517
Investments, cost	[5]	510
Investments, at fair value:	[5]	$ 517
Investment, Identifier [Axis]: Ironhorse Purchaser, LLC., Senior Secured First Lien Debt, 9/30/2027 Maturity 4
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4]	0.50%
Principal amount	[9]	$ 299
Investments, cost		0
Investments, at fair value:		0
Investment, Identifier [Axis]: Isagenix International, LLC, First Lien Term Loan
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:		$ 8,237		$ 0
Investment, Identifier [Axis]: Isagenix International, LLC., Senior Secured First Lien Debt, 4/14/2028 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[5],[17]	5.50%
Interest rate, floor	[4],[5],[17]	1.00%
Principal amount	[5],[9],[17]	$ 8,237
Investments, cost	[5],[17]	8,237
Investments, at fair value:	[5],[17]	8,237
Investment, Identifier [Axis]: Isagenix International, LLC., Senior Secured First Lien Debt, 6/14/2025 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[10],[11]			7.75%
Interest rate, floor	[7],[10],[11]			1.00%
Principal amount	[10],[11]			$ 16,229
Investments, cost	[10],[11]			15,103
Investments, at fair value:	[10],[11]			13,774
Investment, Identifier [Axis]: Isagenix Worldwide, Inc.
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:		$ 8,987		$ 0
Investment, Identifier [Axis]: Isagenix Worldwide, Inc. Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)	[9],[17],[18]	601,941
Investments, cost	[17],[18]	$ 8,987
Investments, at fair value:	[17],[18]	$ 8,987
Investment, Identifier [Axis]: JP Intermediate B, LLC., Senior Secured First Lien Debt, 11/20/2025 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[10],[11]			5.50%
Interest rate, floor	[7],[10],[11]			1.00%
Principal amount	[10],[11]			$ 13,438
Investments, cost	[10],[11]			13,296
Investments, at fair value:	[10],[11]			$ 9,809
Investment, Identifier [Axis]: JP Intermediate B, LLC., Senior Secured First Lien Debt, 11/20/2027 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[12],[22]	5.50%
Interest rate, floor	[4],[12],[22]	1.00%
Principal amount	[9],[12],[22]	$ 12,979
Investments, cost	[12],[22]	12,867
Investments, at fair value:	[12],[22]	$ 10,091
Investment, Identifier [Axis]: Jenny C Acquisition, Inc., Senior Secured First Lien Debt, 10/1/2024 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[11],[28]			9.00%
Interest rate, floor	[7],[11],[28]			1.75%
Principal amount	[11],[28]			$ 11,789
Investments, cost	[11],[28]			11,745
Investments, at fair value:	[11],[28]			$ 9,241
Investment, Identifier [Axis]: Jenny C Acquisition, Inc., Senior Secured First Lien Debt, 10/1/2024 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[22],[29]	9.00%
Interest rate, floor	[4],[22],[29]	1.75%
Principal amount	[9],[22],[29]	$ 11,789
Investments, cost	[22],[29]	11,745
Investments, at fair value:	[22],[29]	$ 0
Investment, Identifier [Axis]: Jenny C Acquisition, Inc., Senior Secured First Lien Debt, 10/1/2024 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[29],[31]	9.00%
Interest rate, floor	[4],[29],[31]	1.75%
Principal amount	[9],[29],[31]	$ 534
Investments, cost	[29],[31]	534
Investments, at fair value:	[29],[31]	$ 131
Investment, Identifier [Axis]: K&N Holdco, LLC, Membership Units, Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)	[9],[18]	458,364
Investments, cost	[18]	$ 8,356
Investments, at fair value:	[18]	$ 6,880
Investment, Identifier [Axis]: K&N Parent, Inc., Senior Secured First Lien Debt, 10/20/2023 Maturity 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[11]			6.75%
Interest rate, floor	[7],[11]			1.00%
Principal amount	[11]			$ 13,090
Investments, cost	[11]			12,898
Investments, at fair value:	[11]			$ 12,435
Investment, Identifier [Axis]: K&N Parent, Inc., Senior Secured First Lien Debt, 2/14/2027 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[12],[31]	8.00%
Interest rate, floor	[4],[12],[31]	1.00%
Principal amount	[9],[12],[31]	$ 4,252
Investments, cost	[12],[31]	4,108
Investments, at fair value:	[12],[31]	$ 4,454
Investment, Identifier [Axis]: K&N Parent, Inc., Senior Secured First Lien Debt, 2/15/2023 Maturity 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[8]			8.00%
Interest rate, floor	[7],[8]			1.00%
Principal amount	[8]			$ 1,200
Investments, cost	[8]			1,152
Investments, at fair value:	[8]			$ 1,220
Investment, Identifier [Axis]: K&N Parent, Inc., Senior Secured First Lien Debt, 8/14/2027 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[21],[31]	5.25%
Interest rate, floor	[4],[21],[31]	1.00%
Principal amount	[9],[21],[31]	$ 5,441
Investments, cost	[21],[31]	5,441
Investments, at fair value:	[21],[31]	$ 5,427
Investment, Identifier [Axis]: KNB Holdings Corp., Senior Secured First Lien Debt, 4/26/2024 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		5.50%	[4],[12],[29],[39]	5.50%	[6],[7],[10],[27],[28]
Interest rate, floor		1.00%	[4],[12],[29],[39]	1.00%	[6],[7],[10],[27],[28]
Principal amount		$ 7,634	[9],[12],[29],[39]	$ 7,634	[6],[10],[27],[28]
Investments, cost		7,387	[12],[29],[39]	7,387	[6],[10],[27],[28]
Investments, at fair value:		$ 305	[12],[29],[39]	$ 3,321	[6],[10],[27],[28]
Investment, Identifier [Axis]: Klein Hersh, LLC., Senior Secured First Lien Debt, 4/27/2027 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		11.30%	[4],[12],[21],[31]	8.52%	[7],[10],[30]
Interest rate, floor		0.50%	[4],[12],[21],[31]	0.50%	[7],[10],[30]
Principal amount		$ 20,782	[9],[12],[21],[31]	$ 19,766	[10],[30]
Investments, cost		20,782	[12],[21],[31]	19,766	[10],[30]
Investments, at fair value:		$ 20,730	[12],[21],[31]	$ 19,667	[10],[30]
Investment, Identifier [Axis]: LAV Gear Holdings, Inc., Senior Secured First Lien Debt, 10/31/2024 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.28%	[3],[4],[5],[12]	5.50%	[6],[7],[8],[10]
Interest rate, floor		1.00%	[3],[4],[5],[12]	1.00%	[6],[7],[8],[10]
Principal amount		$ 27,722	[3],[5],[9],[12]	$ 27,854	[6],[8],[10]
Investments, cost		27,559	[3],[5],[12]	27,625	[6],[8],[10]
Investments, at fair value:		$ 27,662	[3],[5],[12]	$ 27,366	[6],[8],[10]
Investment, Identifier [Axis]: LAV Gear Holdings, Inc., Senior Secured First Lien Debt, 10/31/2024 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.28%	[3],[4],[5],[12]	5.50%	[6],[7],[8],[10]
Interest rate, floor		1.00%	[3],[4],[5],[12]	1.00%	[6],[7],[8],[10]
Principal amount		$ 4,548	[3],[5],[9],[12]	$ 4,569	[6],[8],[10]
Investments, cost		4,531	[3],[5],[12]	4,544	[6],[8],[10]
Investments, at fair value:		$ 4,542	[3],[5],[12]	$ 4,489	[6],[8],[10]
Investment, Identifier [Axis]: LGC US Finco, LLC., Senior Secured First Lien Debt, 12/20/2025 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.50%	[4],[12],[24]	6.50%	[7],[10],[25]
Interest rate, floor		1.00%	[4],[12],[24]	1.00%	[7],[10],[25]
Principal amount		$ 11,348	[9],[12],[24]	$ 11,515	[10],[25]
Investments, cost		11,139	[12],[24]	11,263	[10],[25]
Investments, at fair value:		$ 11,348	[12],[24]	11,184	[10],[25]
Investment, Identifier [Axis]: Language Education Holdings GP LLC, Common Units, Non-Controlled, Affiliated Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:				$ 0		0
Investment, Identifier [Axis]: Language Education Holdings GP LLC, Common Units., Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)		366,667	[9],[18]	366,667	[19],[20]
Investments, cost		$ 0	[18]	$ 0	[19],[20]
Investments, at fair value:		$ 0	[18]	0	[19],[20]
Investment, Identifier [Axis]: Language Education Holdings LP, Ordinary Common Units, Non-Controlled, Affiliated Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:				$ 0		0
Investment, Identifier [Axis]: Language Education Holdings LP, Ordinary Common Units., Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)		366,667	[9],[18]	366,667	[19],[20]
Investments, cost		$ 825	[18]	$ 825	[19],[20]
Investments, at fair value:		$ 1,360	[18]	$ 1,173	[19],[20]
Investment, Identifier [Axis]: LaserAway Intermediate Holdings II, LLC., Senior Secured First Lien Debt, 10/12/2027 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[10],[11]			5.75%
Interest rate, floor	[7],[10],[11]			0.75%
Principal amount	[10],[11]			$ 3,375
Investments, cost	[10],[11]			3,319
Investments, at fair value:	[10],[11]			$ 3,316
Investment, Identifier [Axis]: Lift Brands, Inc., Senior Secured First Lien Debt, 6/29/2025 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		7.50%	[3],[4],[12],[17],[31]	7.50%	[6],[7],[10],[19],[25]
Interest rate, floor		1.00%	[3],[4],[12],[17],[31]	1.00%	[6],[7],[10],[19],[25]
Principal amount		$ 23,169	[3],[9],[12],[17],[31]	$ 23,287	[6],[10],[19],[25]
Investments, cost		23,169	[3],[12],[17],[31]	23,287	[6],[10],[19],[25]
Investments, at fair value:		23,169	[3],[12],[17],[31]	23,287	[6],[10],[19],[25]
Investment, Identifier [Axis]: Lift Brands, Inc., Senior Secured First Lien Debt, 6/29/2025 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Principal amount		5,777	[3],[9],[12],[17],[21]	5,556	[6],[10],[19]
Investments, cost		5,724	[3],[12],[17],[21]	5,490	[6],[10],[19]
Investments, at fair value:		5,430	[3],[12],[17],[21]	5,154	[6],[10],[19]
Investment, Identifier [Axis]: Lift Brands, Inc., Senior Secured First Lien Debt, 6/29/2025 Maturity, 3
Schedule of Equity Method Investments [Line Items]
Principal amount		6,602	[3],[9],[12],[17],[21]	5,296	[6],[10],[19],[40]
Investments, cost		6,282	[3],[12],[17],[21]	4,947	[6],[10],[19],[40]
Investments, at fair value:		6,016	[3],[12],[17],[21]	4,732	[6],[10],[19],[40]
Investment, Identifier [Axis]: Lift Brands, Inc., Term Loan A, Non-Controlled, Affiliated Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:		23,169		23,287		23,406
Investment, Identifier [Axis]: Lift Brands, Inc., Term Loan B, Non-Controlled, Affiliated Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:		5,430		5,154		5,156
Investment, Identifier [Axis]: Lift Brands, Inc., Term Loan C, Non-Controlled, Affiliated Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:		6,016		4,732		4,700
Investment, Identifier [Axis]: Longview Intermediate Holdings C, LLC, Membership Units, Non-Controlled, Affiliated Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:		$ 21,680		$ 23,995		15,127
Investment, Identifier [Axis]: Longview Intermediate Holdings C, LLC, Membership Units., Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)		653,989	[9],[17]	653,989	[19],[20]
Investments, cost		$ 2,704	[17]	$ 2,704	[19],[20]
Investments, at fair value:		21,680	[17]	23,995	[19],[20]
Investment, Identifier [Axis]: Longview Power, LLC, First Lien Term Loan, Non-Controlled, Affiliated Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:		0		$ 2,348		4,504
Investment, Identifier [Axis]: Longview Power, LLC., Senior Secured First Lien Debt, 7/30/2025 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[11],[19]			10.00%
Interest rate, floor	[7],[11],[19]			1.50%
Principal amount	[11],[19]			$ 2,073
Investments, cost	[11],[19]			1,390
Investments, at fair value:	[11],[19]			2,348
Investment, Identifier [Axis]: Lucky Bucks Holdings LLC., Unsecured Debt, 5/29/2028 Maturity
Schedule of Equity Method Investments [Line Items]
Principal amount		24,307	[9],[21],[29]	22,860	[23]
Investments, cost		22,860	[21],[29]	22,860	[23]
Investments, at fair value:		$ 4,375	[21],[29]	$ 15,316	[23]
Investment, Identifier [Axis]: Lucky Bucks Holdings LLC., Unsecured Debt, 7/30/2027 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[24],[41]	7.50%
Interest rate, floor	[4],[24],[41]	0.75%
Principal amount	[9],[24],[41]	$ 10,500
Investments, cost	[24],[41]	4,200
Investments, at fair value:	[24],[41]	$ 5,513
Investment, Identifier [Axis]: MacNeill Pride Group Corp., Senior Secured First Lien Debt, 4/22/2026 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.50%	[4],[5],[12]	6.25%	[7],[8],[10]
Interest rate, floor		1.00%	[4],[5],[12]	1.00%	[7],[8],[10]
Principal amount		$ 17,714	[5],[9],[12]	$ 17,804	[8],[10]
Investments, cost		17,635	[5],[12]	17,702	[8],[10]
Investments, at fair value:		$ 17,626	[5],[12]	$ 17,448	[8],[10]
Investment, Identifier [Axis]: MacNeill Pride Group Corp., Senior Secured First Lien Debt, 4/22/2026 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.50%	[4],[5],[12]	6.25%	[7],[8],[10]
Interest rate, floor		1.00%	[4],[5],[12]	1.00%	[7],[8],[10]
Principal amount		$ 6,539	[5],[9],[12]	$ 7,910	[8],[10]
Investments, cost		6,487	[5],[12]	7,836	[8],[10]
Investments, at fair value:		6,506	[5],[12]	7,751	[8],[10]
Investment, Identifier [Axis]: MacNeill Pride Group Corp., Senior Secured First Lien Debt, 4/30/2024 Maturity
Schedule of Equity Method Investments [Line Items]
Principal amount	[9]	2,017
Investments, cost		0
Investments, at fair value:		(10)
Investment, Identifier [Axis]: MacNeill Pride Group Corp., Senior Secured First Lien Debt, 4/30/2024 Maturity, 3
Schedule of Equity Method Investments [Line Items]
Principal amount				2,017
Investments, cost				0
Investments, at fair value:				(40)
Investment, Identifier [Axis]: Manus Bio Inc., Senior Secured First Lien Debt, 8/20/2026 Maturity
Schedule of Equity Method Investments [Line Items]
Principal amount		13,081	[9]	14,213
Investments, cost		13,014		14,128
Investments, at fair value:		$ 13,081		$ 14,212
Investment, Identifier [Axis]: Marble Point Credit Management LLC., Senior Secured First Lien Debt, 8/11/2028 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[11]			6.00%
Principal amount	[11]			$ 6,089
Investments, cost	[11]			5,985
Investments, at fair value:	[11]			$ 6,089
Investment, Identifier [Axis]: Marble Point Credit Management LLC., Senior Secured First Lien Debt, 8/11/2028 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[11]			6.00%
Interest rate, floor	[7],[11]			1.00%
Principal amount	[11]			$ 1,437
Investments, cost	[11]			1,418
Investments, at fair value:	[11]			$ 1,437
Investment, Identifier [Axis]: Medplast Holdings, Inc.., Senior Secured First Lien Debt, 7/2/2025 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[24]	3.75%
Interest rate, floor	[4],[24]	1.00%
Principal amount	[9],[24]	$ 4,987
Investments, cost	[24]	4,781
Investments, at fair value:	[24]	$ 4,849
Investment, Identifier [Axis]: Mimeo.com, Inc., Senior Secured First Lien Debt, 12/21/2024 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.80%	[4],[12],[22]	7.00%	[7],[11]
Interest rate, floor		1.00%	[4],[12],[22]	1.00%	[7],[11]
Principal amount		$ 21,983	[9],[12],[22]	$ 22,328	[11]
Investments, cost		21,983	[12],[22]	22,328	[11]
Investments, at fair value:		$ 21,846	[12],[22]	$ 22,161	[11]
Investment, Identifier [Axis]: Mimeo.com, Inc., Senior Secured First Lien Debt, 12/21/2024 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.80%	[4],[22]	7.00%	[7],[11]
Interest rate, floor		1.00%	[4],[22]	1.00%	[7],[11]
Principal amount		$ 2,756	[9],[22]	$ 2,256	[11]
Investments, cost		2,756	[22]	2,256	[11]
Investments, at fair value:		2,739	[22]	2,239	[11]
Investment, Identifier [Axis]: Mimeo.com, Inc., Senior Secured First Lien Debt, 12/21/2024 Maturity, 3
Schedule of Equity Method Investments [Line Items]
Principal amount		2,500	[9]	3,000
Investments, cost		0		0
Investments, at fair value:		(16)		$ (23)
Investment, Identifier [Axis]: Moss Holding Company, Senior Secured First Lien Debt, 4/17/2024 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Principal amount	[9]	106
Investments, cost		0
Investments, at fair value:		(1)
Investment, Identifier [Axis]: Moss Holding Company, Senior Secured First Lien Debt, 4/17/2024 Maturity, 3
Schedule of Equity Method Investments [Line Items]
Principal amount	[9]	2,126
Investments, cost		0
Investments, at fair value:		$ (27)
Investment, Identifier [Axis]: Moss Holding Company., Senior Secured First Lien Debt, 4/17/2024 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.25%	[3],[4],[5],[12]	6.25%	[6],[7],[8],[10]
Interest rate, floor		1.00%	[3],[4],[5],[12]	1.00%	[6],[7],[8],[10]
Principal amount		$ 19,475	[3],[5],[9],[12]	$ 19,576	[6],[8],[10]
Investments, cost		19,428	[3],[5],[12]	19,500	[6],[8],[10]
Investments, at fair value:		19,232	[3],[5],[12]	19,185	[6],[8],[10]
Investment, Identifier [Axis]: Moss Holding Company., Senior Secured First Lien Debt, 4/17/2024 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Principal amount				106
Investments, cost				0
Investments, at fair value:				(2)
Investment, Identifier [Axis]: Moss Holding Company., Senior Secured First Lien Debt, 4/17/2024 Maturity, 3
Schedule of Equity Method Investments [Line Items]
Principal amount				2,126
Investments, cost				0
Investments, at fair value:				(43)
Investment, Identifier [Axis]: Mount Logan Capital Inc., Common Stock, Non-Controlled, Affiliated Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:		$ 2,266		$ 2,341		3,404
Investment, Identifier [Axis]: Mount Logan Capital Inc., Common Stock., Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)		1,075,557	[9],[14],[17],[42]	1,075,557	[16],[19],[43]
Investments, cost		$ 3,534	[14],[17],[42]	$ 3,534	[16],[19],[43]
Investments, at fair value:		$ 2,266	[14],[17],[42]	$ 2,341	[16],[19],[43]
Investment, Identifier [Axis]: NS NWN Acquisition, LLC, Class A Preferred Units., Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)		111	[9],[18]	111	[20]
Investments, cost		$ 110	[18]	$ 110	[20]
Investments, at fair value:		$ 1,338	[18]	$ 909	[20]
Investment, Identifier [Axis]: NS NWN Acquisition, LLC, Common Equity, Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)		346	[9],[18]	346	[20]
Investments, cost		$ 393	[18]	$ 393	[20]
Investments, at fair value:		$ 0	[18]	$ 0	[20]
Investment, Identifier [Axis]: NS NWN Holdco LLC, Non-Voting Units, Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)	[9],[18]	522
Investments, cost	[18]	$ 504
Investments, at fair value:	[18]	$ 295
Investment, Identifier [Axis]: NS NWN Holdco LLC, Non-Voting Units., Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)	[20]			522
Investments, cost	[20]			$ 504
Investments, at fair value:	[20]			$ 200
Investment, Identifier [Axis]: NSG Co-Invest (Bermuda) LP, Partnership Interests., Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)		1,575	[9],[14],[18]	1,575	[16],[20]
Investments, cost		$ 1,000	[14],[18]	$ 1,000	[16],[20]
Investments, at fair value:		$ 887	[14],[18]	$ 664	[16],[20]
Investment, Identifier [Axis]: NWN Parent Holdings LLC., Senior Secured First Lien Debt, 5/7/2026 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		8.00%	[4],[5],[12]	8.00%	[7],[10],[11]
Interest rate, floor		1.00%	[4],[5],[12]	1.00%	[7],[10],[11]
Principal amount		$ 12,604	[5],[9],[12]	$ 12,755	[10],[11]
Investments, cost		12,536	[5],[12]	12,664	[10],[11]
Investments, at fair value:		$ 12,494	[5],[12]	$ 12,643	[10],[11]
Investment, Identifier [Axis]: NWN Parent Holdings LLC., Senior Secured First Lien Debt, 5/7/2026 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		8.00%	[4],[5]	8.00%	[7],[11]
Interest rate, floor		1.00%	[4],[5]	1.00%	[7],[11]
Principal amount		$ 600	[5],[9]	$ 810	[11]
Investments, cost		587	[5]	798	[11]
Investments, at fair value:		595	[5]	803	[11]
Investment, Identifier [Axis]: NWN Parent Holdings LLC., Senior Secured First Lien Debt, 5/7/2026 Maturity, 3
Schedule of Equity Method Investments [Line Items]
Principal amount		1,200	[9]	90
Investments, cost		0		0
Investments, at fair value:		$ (11)		$ (1)
Investment, Identifier [Axis]: Neptune Flood Inc., Senior Secured First Lien Debt, 10/21/2026 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[10],[11]			6.00%
Interest rate, floor	[7],[10],[11]			1.00%
Principal amount	[10],[11]			$ 7,789
Investments, cost	[10],[11]			7,742
Investments, at fair value:	[10],[11]			$ 7,867
Investment, Identifier [Axis]: New Giving Acquisition, Inc., Warrants, Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)		4,630	[9],[18]	4,630	[20]
Investments, cost		$ 633	[18]	$ 633	[20]
Investments, at fair value:		$ 1,394	[18]	$ 786	[20]
Investment, Identifier [Axis]: NewsCycle Solutions, Inc., Senior Secured First Lien Debt, 12/29/2023 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		7.00%	[3],[4],[5],[12]	7.00%	[6],[7],[10],[11]
Interest rate, floor		1.00%	[3],[4],[5],[12]	1.00%	[6],[7],[10],[11]
Principal amount		$ 12,381	[3],[5],[9],[12]	$ 12,444	[6],[10],[11]
Investments, cost		12,377	[3],[5],[12]	12,432	[6],[10],[11]
Investments, at fair value:		$ 12,396	[3],[5],[12]	$ 12,444	[6],[10],[11]
Investment, Identifier [Axis]: OpCo Borrower, LLC., Senior Secured First Lien Debt, 8/19/2027 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.50%	[4],[12],[31]	6.50%	[7],[10],[30]
Interest rate, floor		1.00%	[4],[12],[31]	1.00%	[7],[10],[30]
Principal amount		$ 11,243	[9],[12],[31]	$ 11,387	[10],[30]
Investments, cost		11,141	[12],[31]	11,268	[10],[30]
Investments, at fair value:		11,328	[12],[31]	$ 11,387	[10],[30]
Investment, Identifier [Axis]: OpCo Borrower, LLC., Senior Secured First Lien Debt, 8/19/2027 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[30]			6.50%
Interest rate, floor	[7],[30]			1.00%
Principal amount	[30]			$ 208
Investments, cost	[30]			208
Investments, at fair value:	[30]			208
Investment, Identifier [Axis]: OpCo Borrower, LLC., Senior Secured First Lien Debt, 8/19/2027 Maturity, 3
Schedule of Equity Method Investments [Line Items]
Principal amount		1,042	[9]	833
Investments, cost		0		0
Investments, at fair value:		8		0
Investment, Identifier [Axis]: OpCo Borrower, LLC., Senior Secured Second Lien Debt, 2/19/2028 Maturity
Schedule of Equity Method Investments [Line Items]
Principal amount		12,500	[9],[12]	12,500	[10]
Investments, cost		11,730	[12]	11,659	[10]
Investments, at fair value:		$ 11,500	[12]	$ 11,312	[10]
Investment, Identifier [Axis]: Optio Rx, LLC., Senior Secured First Lien Debt, 6/28/2024 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[6],[7],[10],[25]			7.00%
Interest rate, floor	[6],[7],[10],[25]			0.00%
Principal amount	[6],[10],[25]			$ 15,929
Investments, cost	[6],[10],[25]			15,892
Investments, at fair value:	[6],[10],[25]			$ 15,749
Investment, Identifier [Axis]: Optio Rx, LLC., Senior Secured First Lien Debt, 6/28/2024 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[6],[7],[25]			10.00%
Interest rate, floor	[6],[7],[25]			0.00%
Principal amount	[6],[25]			$ 2,515
Investments, cost	[6],[25]			2,504
Investments, at fair value:	[6],[25]			$ 2,615
Investment, Identifier [Axis]: Optio Rx, LLC., Senior Secured First Lien Debt, 6/28/2028 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[3],[4],[12],[24]	7.00%
Interest rate, floor	[3],[4],[12],[24]	0.00%
Principal amount	[3],[9],[12],[24]	$ 15,585
Investments, cost	[3],[12],[24]	15,561
Investments, at fair value:	[3],[12],[24]	$ 15,526
Investment, Identifier [Axis]: Optio Rx, LLC., Senior Secured First Lien Debt, 6/28/2028 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[3],[4],[24]	10.00%
Interest rate, floor	[3],[4],[24]	0.00%
Principal amount	[3],[9],[24]	$ 2,515
Investments, cost	[3],[24]	2,508
Investments, at fair value:	[3],[24]	$ 2,578
Investment, Identifier [Axis]: PH Beauty Holdings III. Inc., Senior Secured First Lien Debt, 9/28/2025 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		5.00%	[4],[12],[22]	5.00%	[7],[10],[11]
Interest rate, floor		0.00%	[4],[12],[22]	0.00%	[7],[10],[11]
Principal amount		$ 9,525	[9],[12],[22]	$ 9,575	[10],[11]
Investments, cost		9,212	[12],[22]	9,195	[10],[11]
Investments, at fair value:		$ 8,727	[12],[22]	$ 8,677	[10],[11]
Investment, Identifier [Axis]: PRA Acquisition, LLC, 5/12/2028 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[3],[4],[5]	6.50%
Interest rate, floor	[3],[4],[5]	1.00%
Principal amount	[3],[5],[9]	$ 20,000
Investments, cost	[3],[5]	20,000
Investments, at fair value:	[3],[5]	$ 20,000
Investment, Identifier [Axis]: Palmetto Clean Technology, Inc., Warrants., Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)		724,112	[9],[18]	724,112	[20]
Investments, cost		$ 471	[18]	$ 471	[20]
Investments, at fair value:		$ 3,287	[18]	$ 3,867	[20]
Investment, Identifier [Axis]: Pentec Acquisition Corp., Senior Secured First Lien Debt, 10/8/2026 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.00%	[4],[12],[31]	6.00%	[7],[10],[25]
Interest rate, floor		1.00%	[4],[12],[31]	1.00%	[7],[10],[25]
Principal amount		$ 24,625	[9],[12],[31]	$ 24,750	[10],[25]
Investments, cost		24,461	[12],[31]	24,551	[10],[25]
Investments, at fair value:		$ 24,687	[12],[31]	$ 24,750	[10],[25]
Investment, Identifier [Axis]: Playboy Enterprises, Inc., Senior Secured First Lien Debt, 5/25/2027 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		4.25%	[3],[4],[5],[14]	6.25%	[6],[7],[11],[16]
Interest rate, floor		0.50%	[3],[4],[5],[14]	0.50%	[6],[7],[11],[16]
Principal amount		$ 19,527	[3],[5],[9],[14]	$ 25,202	[6],[11],[16]
Investments, cost		19,179	[3],[5],[14]	24,729	[6],[11],[16]
Investments, at fair value:		$ 19,234	[3],[5],[14]	$ 24,257	[6],[11],[16]
Investment, Identifier [Axis]: Project Castle, Inc., Senior Secured First Lien Debt, 6/1/2029 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		5.50%	[4],[5],[12]	5.50%	[7],[8],[10]
Interest rate, floor		0.50%	[4],[5],[12]	0.50%	[7],[8],[10]
Principal amount		$ 7,930	[5],[9],[12]	$ 9,975	[8],[10]
Investments, cost		7,181	[5],[12]	8,979	[8],[10]
Investments, at fair value:		$ 6,741	[5],[12]	$ 8,117	[8],[10]
Investment, Identifier [Axis]: R. R. Donnelley & Sons Company , 3/22/2028 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4]	7.25%
Interest rate, floor	[4]	0.75%
Principal amount	[9]	$ 12,582
Investments, cost		12,550
Investments, at fair value:		$ 12,535
Investment, Identifier [Axis]: RA Outdoors, LLC, Senior Secured Second Lien Debt, 10/8/2026 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[5],[12]	9.00%
Interest rate, floor	[4],[5],[12]	1.00%
Principal amount	[5],[9],[12]	$ 1,818
Investments, cost	[5],[12]	1,818
Investments, at fair value:	[5],[12]	$ 1,818
Investment, Identifier [Axis]: RA Outdoors, LLC., Senior Secured First Lien Debt, 4/8/2026 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.75%	[4],[5],[12]	6.75%	[7],[8],[10]
Interest rate, floor		1.00%	[4],[5],[12]	1.00%	[7],[8],[10]
Principal amount		$ 10,979	[5],[9],[12]	$ 10,979	[8],[10]
Investments, cost		10,979	[5],[12]	10,979	[8],[10]
Investments, at fair value:		10,979	[5],[12]	10,938	[8],[10]
Investment, Identifier [Axis]: RA Outdoors, LLC., Senior Secured First Lien Debt, 4/8/2026 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Principal amount				1,049
Investments, cost				(170)
Investments, at fair value:				$ (1)
Investment, Identifier [Axis]: RA Outdoors, LLC., Senior Secured First Lien Debt, 4/8/2026 Maturity, 3
Schedule of Equity Method Investments [Line Items]
Principal amount	[9]	1,049
Investments, cost		(94)
Investments, at fair value:		$ 0
Investment, Identifier [Axis]: RA Outdoors, LLC., Senior Secured Second Lien Debt, 10/8/2026 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[8],[10]			9.00%
Interest rate, floor	[7],[8],[10]			1.00%
Principal amount	[8],[10]			$ 1,827
Investments, cost	[8],[10]			1,827
Investments, at fair value:	[8],[10]			$ 1,825
Investment, Identifier [Axis]: Retail Services WIS Corp., Senior Secured First Lien Debt, 5/20/2025 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		7.75%	[4],[5],[12]	7.75%	[7],[10],[11]
Interest rate, floor		1.00%	[4],[5],[12]	1.00%	[7],[10],[11]
Principal amount		$ 9,297	[5],[9],[12]	$ 9,548	[10],[11]
Investments, cost		9,154	[5],[12]	9,374	[10],[11]
Investments, at fair value:		$ 9,297	[5],[12]	$ 9,357	[10],[11]
Investment, Identifier [Axis]: Robert C. Hilliard, L.L.P., Senior Secured First Lien Debt, 12/17/2023 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		12.00%	[4],[12],[21],[31]	12.00%	[7],[10],[23],[25]
Interest rate, floor		2.00%	[4],[12],[21],[31]	2.00%	[7],[10],[23],[25]
Principal amount		$ 1,973	[9],[12],[21],[31]	$ 1,815	[10],[23],[25]
Investments, cost		1,973	[12],[21],[31]	1,815	[10],[23],[25]
Investments, at fair value:		$ 1,976	[12],[21],[31]	$ 1,815	[10],[23],[25]
Investment, Identifier [Axis]: Rogers Mechanical Contractors, LLC., Senior Secured First Lien Debt, 9/9/2025 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		8.00%	[4],[12],[21],[26]	8.00%	[7],[8],[10],[23]
Interest rate, floor		1.00%	[4],[12],[21],[26]	1.00%	[7],[8],[10],[23]
Principal amount		$ 15,275	[9],[12],[21],[26]	$ 16,365	[8],[10],[23]
Investments, cost		15,275	[12],[21],[26]	16,365	[8],[10],[23]
Investments, at fair value:		$ 15,217	[12],[21],[26]	$ 16,324	[8],[10],[23]
Investment, Identifier [Axis]: Rogers Mechanical Contractors, LLC., Senior Secured First Lien Debt, 9/9/2025 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		8.00%	[4],[12],[21],[26]	8.00%	[7],[8],[23]
Interest rate, floor		1.00%	[4],[12],[21],[26]	1.00%	[7],[8],[23]
Principal amount		$ 899	[9],[12],[21],[26]	$ 962	[8],[23]
Investments, cost		899	[12],[21],[26]	962	[8],[23]
Investments, at fair value:		896	[12],[21],[26]	959	[8],[23]
Investment, Identifier [Axis]: Rogers Mechanical Contractors, LLC., Senior Secured First Lien Debt, 9/9/2025 Maturity, 3
Schedule of Equity Method Investments [Line Items]
Principal amount		2,404	[9]	962
Investments, cost		0		0
Investments, at fair value:		$ (9)		(2)
Investment, Identifier [Axis]: Rogers Mechanical Contractors, LLC., Senior Secured First Lien Debt, 9/9/2025 Maturity, 4
Schedule of Equity Method Investments [Line Items]
Principal amount				2,404
Investments, cost				0
Investments, at fair value:				(6)
Investment, Identifier [Axis]: RumbleOn, Inc., Senior Secured First Lien Debt, 2/28/2023 Maturity, 3
Schedule of Equity Method Investments [Line Items]
Principal amount	[20]			1,775
Investments, cost	[20]			0
Investments, at fair value:	[20]			$ (98)
Investment, Identifier [Axis]: RumbleOn, Inc., Senior Secured First Lien Debt, 8/31/2026 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		8.25%	[4],[5],[12]	8.25%	[7],[10],[11]
Interest rate, floor		1.00%	[4],[5],[12]	1.00%	[7],[10],[11]
Principal amount		$ 13,221	[5],[9],[12]	$ 13,284	[10],[11]
Investments, cost		12,523	[5],[12]	12,497	[10],[11]
Investments, at fair value:		$ 12,461	[5],[12]	$ 12,554	[10],[11]
Investment, Identifier [Axis]: RumbleOn, Inc., Senior Secured First Lien Debt, 8/31/2026 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		8.25%	[4],[5],[12]	8.25%	[7],[11]
Interest rate, floor		1.00%	[4],[5],[12]	1.00%	[7],[11]
Principal amount		$ 4,000	[5],[9],[12]	$ 4,019	[11]
Investments, cost		3,974	[5],[12]	3,976	[11]
Investments, at fair value:		$ 3,770	[5],[12]	$ 3,798	[11]
Investment, Identifier [Axis]: RumbleOn, Inc., Warrants., Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)		60,606	[9],[18]	60,606	[20]
Investments, cost		$ 927	[18]	$ 927	[20]
Investments, at fair value:		$ 0	[18]	1	[20]
Investment, Identifier [Axis]: SIMR Parent, LLC, Class B Membership Units, Non-Controlled, Affiliated Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:				0		0
Investment, Identifier [Axis]: SIMR Parent, LLC, Class W Membership Units, Non-Controlled, Affiliated Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:				0		0
Investment, Identifier [Axis]: SIMR, LLC, First Lien Term Loan, Non-Controlled, Affiliated Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:				0		16,000
Investment, Identifier [Axis]: SRA Holdings, LLC, Membership Units, Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)	[9],[17],[18]	224,865
Investments, cost	[17],[18]	$ 23,611
Investments, at fair value:	[17],[18]	23,706
Investment, Identifier [Axis]: SRA Holdings, LLC, Membership Units, Non-Controlled, Affiliated Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:		23,706		0
Investment, Identifier [Axis]: STATinMED, LLC, Delayed Draw First Lien Term Loan, Non-Controlled, Affiliated Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:				156		0
Investment, Identifier [Axis]: STATinMED, LLC, First Lien Term Loan, Non-Controlled, Affiliated Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:		$ 9,657		$ 9,107		0
Investment, Identifier [Axis]: STATinMED, LLC., Senior Secured First Lien Debt, 3/31/2023 Maturity 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[19],[23],[30]			9.50%
Interest rate, floor	[7],[19],[23],[30]			2.00%
Principal amount	[19],[23],[30]			$ 156
Investments, cost	[19],[23],[30]			153
Investments, at fair value:	[19],[23],[30]			156
Investment, Identifier [Axis]: STATinMED, LLC., Senior Secured First Lien Debt, 3/31/2023 Maturity 3
Schedule of Equity Method Investments [Line Items]
Principal amount	[19],[20]			156
Investments, cost	[19],[20]			0
Investments, at fair value:	[19],[20]			$ 0
Investment, Identifier [Axis]: STATinMED, LLC., Senior Secured First Lien Debt, 7/1/2027 Maturity 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[19],[23],[30]			9.50%
Interest rate, floor	[7],[19],[23],[30]			2.00%
Principal amount	[19],[23],[30]			$ 9,222
Investments, cost	[19],[23],[30]			9,222
Investments, at fair value:	[19],[23],[30]			$ 9,107
Investment, Identifier [Axis]: STATinMED, LLC., Senior Secured First Lien Debt, 7/1/2027 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[17],[21],[31]	9.50%
Interest rate, floor	[4],[17],[21],[31]	2.00%
Principal amount	[9],[17],[21],[31]	$ 9,905
Investments, cost	[17],[21],[31]	9,905
Investments, at fair value:	[17],[21],[31]	$ 9,657
Investment, Identifier [Axis]: STATinMed Parent, LLC, Class A Preferred Units, Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)	[9],[17],[18]	6,182
Investments, cost	[17],[18]	$ 6,182
Investments, at fair value:	[17],[18]	2,526
Investment, Identifier [Axis]: STATinMed Parent, LLC, Class A Preferred Units, Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)	[19],[20]			6,182
Investments, cost	[19],[20]			$ 6,182
Investments, at fair value:	[19],[20]			4,530
Investment, Identifier [Axis]: STATinMed Parent, LLC, Class A Preferred Units, Non-Controlled, Affiliated Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:		$ 2,526		$ 4,530		0
Investment, Identifier [Axis]: STATinMed Parent, LLC, Class B Preferred Units, Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)	[9],[17],[18]	51,221
Investments, cost	[17],[18]	$ 3,193
Investments, at fair value:	[17],[18]	0
Investment, Identifier [Axis]: STATinMed Parent, LLC, Class B Preferred Units, Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)	[19],[20]			51,221
Investments, cost	[19],[20]			$ 3,193
Investments, at fair value:	[19],[20]			134
Investment, Identifier [Axis]: STATinMed Parent, LLC, Class B Preferred Units, Non-Controlled, Affiliated Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:		$ 0		$ 134		0
Investment, Identifier [Axis]: Securus Technologies Holdings, Inc., Senior Secured First Lien Debt, 11/1/2024 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		4.50%	[4],[12],[22]	4.50%	[7],[10],[11]
Interest rate, floor		1.00%	[4],[12],[22]	1.00%	[7],[10],[11]
Principal amount		$ 3,847	[9],[12],[22]	$ 3,868	[10],[11]
Investments, cost		3,484	[12],[22]	3,383	[10],[11]
Investments, at fair value:		$ 3,852	[12],[22]	$ 3,848	[10],[11]
Investment, Identifier [Axis]: Securus Technologies Holdings, Inc., Senior Secured Second Lien Debt, 11/1/2025 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		8.25%	[4],[22]	8.25%	[7],[11]
Interest rate, floor		1.00%	[4],[22]	1.00%	[7],[11]
Principal amount		$ 2,942	[9],[22]	$ 2,942	[11]
Investments, cost		2,930	[22]	2,926	[11]
Investments, at fair value:		2,895	[22]	2,884	[11]
Investment, Identifier [Axis]: Sequoia Healthcare Management, LLC., Senior Secured First Lien Debt, 11/4/2023 Maturity
Schedule of Equity Method Investments [Line Items]
Principal amount		8,525	[3],[9],[12]	8,525	[6],[10],[28]
Investments, cost		8,456	[3],[12]	8,457	[6],[10],[28]
Investments, at fair value:		8,024	[3],[12]	10,209	[6],[10],[28]
Investment, Identifier [Axis]: Service Compression, LLC, Warrants(o), Energy: Oil & Gas, N/A
Schedule of Equity Method Investments [Line Items]
Investments, cost	[20]			509
Investments, at fair value:	[20]			441
Investment, Identifier [Axis]: Service Compression, LLC, Warrants., Equity
Schedule of Equity Method Investments [Line Items]
Investments, cost	[18]	509
Investments, at fair value:	[18]	970
Investment, Identifier [Axis]: Service Compression, LLC., Senior Secured First Lien Debt, 5/5/2025 Maturity
Schedule of Equity Method Investments [Line Items]
Principal amount	[9]	907
Investments, cost		0
Investments, at fair value:		$ 7
Investment, Identifier [Axis]: Service Compression, LLC., Senior Secured First Lien Debt, 5/6/2025 Maturity, 3
Schedule of Equity Method Investments [Line Items]
Principal amount				4,186
Investments, cost				0
Investments, at fair value:				$ (31)
Investment, Identifier [Axis]: Service Compression, LLC., Senior Secured First Lien Debt, 5/6/2027 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		10.00%	[4],[5],[12],[21]	10.00%	[7],[8],[10],[23]
Interest rate, floor		1.00%	[4],[5],[12],[21]	1.00%	[7],[8],[10],[23]
Principal amount		$ 23,208	[5],[9],[12],[21]	$ 22,975	[8],[10],[23]
Investments, cost		22,894	[5],[12],[21]	22,622	[8],[10],[23]
Investments, at fair value:		$ 23,382	[5],[12],[21]	$ 22,803	[8],[10],[23]
Investment, Identifier [Axis]: Service Compression, LLC., Senior Secured First Lien Debt, 5/6/2027 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		10.00%	[4],[5],[12],[21]	10.00%	[7],[8]
Interest rate, floor		1.00%	[4],[5],[12],[21]	1.00%	[7],[8]
Principal amount		$ 6,477	[5],[9],[12],[21]	$ 3,151	[8]
Investments, cost		6,381	[5],[12],[21]	3,044	[8]
Investments, at fair value:		$ 6,526	[5],[12],[21]	$ 3,127	[8]
Investment, Identifier [Axis]: Sleep Opco, LLC., Senior Secured First Lien Debt, 10/12/2026 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		7.00%	[4],[5],[12]	6.50%	[7],[10],[11]
Interest rate, floor		1.00%	[4],[5],[12]	1.00%	[7],[10],[11]
Principal amount		$ 13,704	[5],[9],[12]	$ 13,779	[10],[11]
Investments, cost		13,518	[5],[12]	13,568	[10],[11]
Investments, at fair value:		$ 13,602	[5],[12]	13,641	[10],[11]
Investment, Identifier [Axis]: Sleep Opco, LLC., Senior Secured First Lien Debt, 10/12/2026 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[5]	6.50%
Interest rate, floor	[4],[5]	1.00%
Principal amount		$ 550	[5],[9]	1,750
Investments, cost		527	[5]	(27)
Investments, at fair value:		$ 546	[5]	$ (18)
Investment, Identifier [Axis]: Sleep Opco, LLC., Senior Secured First Lien Debt, 10/12/2026 Maturity, 3
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[5],[12]	7.00%
Interest rate, floor	[4],[5],[12]	1.00%
Principal amount	[5],[9],[12]	$ 399
Investments, cost	[5],[12]	394
Investments, at fair value:	[5],[12]	402
Investment, Identifier [Axis]: Sleep Opco, LLC., Senior Secured First Lien Debt, 10/12/2026 Maturity, 4
Schedule of Equity Method Investments [Line Items]
Principal amount	[9]	1,200
Investments, cost		0
Investments, at fair value:		$ (9)
Investment, Identifier [Axis]: Snap Fitness Holdings, Inc., Class A Common Stock., Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)		9,858	[9],[17],[18]	9,858	[19],[20]
Investments, cost		$ 3,078	[17],[18]	$ 3,078	[19],[20]
Investments, at fair value:		4,936	[17],[18]	5,123	[19],[20]
Investment, Identifier [Axis]: Snap Fitness Holdings, Inc., Class A Stock, Non-Controlled, Affiliated Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:		4,936		5,123		3,131
Investment, Identifier [Axis]: Snap Fitness Holdings, Inc., Warrants, Non-Controlled, Affiliated Investments
Schedule of Equity Method Investments [Line Items]
Investments, at fair value:		$ 2,001		$ 2,077		$ 1,269
Investment, Identifier [Axis]: Snap Fitness Holdings, Inc., Warrants., Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)		3,996	[9],[17],[18]	3,996	[19],[20]
Investments, cost		$ 1,247	[17],[18]	$ 1,247	[19],[20]
Investments, at fair value:		$ 2,001	[17],[18]	$ 2,077	[19],[20]
Investment, Identifier [Axis]: Spinal USA, Inc. / Precision Medical Inc., Senior Secured First Lien Debt, 11/29/2023 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[21],[22]	9.50%
Principal amount	[9],[21],[22]	$ 14,349
Investments, cost	[21],[22]	14,332
Investments, at fair value:	[21],[22]	$ 7,748
Investment, Identifier [Axis]: Spinal USA, Inc. / Precision Medical Inc., Senior Secured First Lien Debt, 11/29/2023 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[21],[22]	9.50%
Principal amount	[9],[21],[22]	$ 1,275
Investments, cost	[21],[22]	1,275
Investments, at fair value:	[21],[22]	$ 650
Investment, Identifier [Axis]: Spinal USA, Inc. / Precision Medical Inc., Senior Secured First Lien Debt, 11/29/2023 Maturity, 3
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[21],[22]	9.50%
Principal amount	[9],[21],[22]	$ 820
Investments, cost	[21],[22]	762
Investments, at fair value:	[21],[22]	$ 418
Investment, Identifier [Axis]: Spinal USA, Inc. / Precision Medical Inc., Senior Secured First Lien Debt, 11/29/2023 Maturity, 4
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[21],[22]	9.50%
Principal amount	[9],[21],[22]	$ 778
Investments, cost	[21],[22]	778
Investments, at fair value:	[21],[22]	$ 397
Investment, Identifier [Axis]: Spinal USA, Inc. / Precision Medical Inc., Senior Secured First Lien Debt, 11/29/2023 Maturity, 5
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[21],[22]	9.50%
Principal amount	[9],[21],[22]	$ 649
Investments, cost	[21],[22]	604
Investments, at fair value:	[21],[22]	$ 351
Investment, Identifier [Axis]: Spinal USA, Inc. / Precision Medical Inc., Senior Secured First Lien Debt, 11/29/2023 Maturity, 6
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[21],[22]	9.50%
Principal amount	[9],[21],[22]	$ 593
Investments, cost	[21],[22]	593
Investments, at fair value:	[21],[22]	$ 599
Investment, Identifier [Axis]: Spinal USA, Inc. / Precision Medical Inc., Senior Secured First Lien Debt, 5/29/2023 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[10],[11],[23]			9.50%
Principal amount	[10],[11],[23]			$ 13,401
Investments, cost	[10],[11],[23]			13,385
Investments, at fair value:	[10],[11],[23]			$ 9,649
Investment, Identifier [Axis]: Spinal USA, Inc. / Precision Medical Inc., Senior Secured First Lien Debt, 5/29/2023 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[10],[11],[23]			9.50%
Principal amount	[10],[11],[23]			$ 1,191
Investments, cost	[10],[11],[23]			1,191
Investments, at fair value:	[10],[11],[23]			$ 816
Investment, Identifier [Axis]: Spinal USA, Inc. / Precision Medical Inc., Senior Secured First Lien Debt, 5/29/2023 Maturity, 3
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[10],[11],[23]			9.50%
Principal amount	[10],[11],[23]			$ 766
Investments, cost	[10],[11],[23]			677
Investments, at fair value:	[10],[11],[23]			$ 521
Investment, Identifier [Axis]: Spinal USA, Inc. / Precision Medical Inc., Senior Secured First Lien Debt, 5/29/2023 Maturity, 4
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[10],[11],[23]			9.50%
Principal amount	[10],[11],[23]			$ 727
Investments, cost	[10],[11],[23]			727
Investments, at fair value:	[10],[11],[23]			$ 498
Investment, Identifier [Axis]: Spinal USA, Inc. / Precision Medical Inc., Senior Secured First Lien Debt, 5/29/2023 Maturity, 5
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[10],[11],[23]			9.50%
Principal amount	[10],[11],[23]			$ 607
Investments, cost	[10],[11],[23]			536
Investments, at fair value:	[10],[11],[23]			$ 446
Investment, Identifier [Axis]: TMK Hawk Parent, Corp., Senior Secured Second Lien Debt, 8/28/2025 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[11]			8.00%
Interest rate, floor	[7],[11]			1.00%
Principal amount	[11]			$ 13,393
Investments, cost	[11]			13,246
Investments, at fair value:	[11]			$ 11,334
Investment, Identifier [Axis]: TMK Hawk Parent, Corp., Senior Secured Second Lien Debt, 9/26/2025 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[22]	8.00%
Interest rate, floor	[4],[22]	1.00%
Principal amount	[9],[22]	$ 13,393
Investments, cost	[22]	13,282
Investments, at fair value:	[22]	11,903
Investment, Identifier [Axis]: Thrill Holdings LLC., Senior Secured First Lien Debt, 5/27/2024 Maturity, 3
Schedule of Equity Method Investments [Line Items]
Principal amount	[9]	3,261
Investments, cost		0
Investments, at fair value:		$ 0
Investment, Identifier [Axis]: Thrill Holdings LLC., Senior Secured First Lien Debt, 5/27/2027 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.50%	[4],[5],[12]	6.50%	[7],[8],[10]
Interest rate, floor		1.00%	[4],[5],[12]	1.00%	[7],[8],[10]
Principal amount		$ 20,136	[5],[9],[12]	$ 20,394	[8],[10]
Investments, cost		20,136	[5],[12]	20,394	[8],[10]
Investments, at fair value:		19,907	[5],[12]	20,292	[8],[10]
Investment, Identifier [Axis]: Thrill Holdings LLC., Senior Secured First Lien Debt, 5/27/2027 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Principal amount		1,739	[9]	3,261
Investments, cost		0		0
Investments, at fair value:		$ 0		$ (16)
Investment, Identifier [Axis]: Thrill Holdings LLC., Senior Secured First Lien Debt, 5/27/2027 Maturity, 3
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[8]			6.50%
Interest rate, floor	[7],[8]			1.00%
Principal amount	[8]			$ 1,739
Investments, cost	[8]			1,739
Investments, at fair value:	[8]			$ 1,730
Investment, Identifier [Axis]: Trademark Global, LLC., Senior Secured First Lien Debt, 7/30/2024 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[12],[21],[31]	7.50%
Interest rate, floor	[4],[12],[21],[31]	1.00%
Principal amount	[9],[12],[21],[31]	$ 15,508
Investments, cost	[12],[21],[31]	15,484
Investments, at fair value:	[12],[21],[31]	$ 15,042
Investment, Identifier [Axis]: Trademark Global, LLC., Senior Secured First Lien Debt, 7/30/2024 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[23],[25]			7.50%
Interest rate, floor	[7],[23],[25]			1.00%
Principal amount	[23],[25]			$ 15,355
Investments, cost	[23],[25]			15,310
Investments, at fair value:	[23],[25]			$ 14,952
Investment, Identifier [Axis]: Trammell, P.C., Senior Secured First Lien Debt, 4/28/2026 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		15.50%	[4],[21],[31]	15.50%	[7],[23],[30]
Interest rate, floor		2.00%	[4],[21],[31]	2.00%	[7],[23],[30]
Principal amount		$ 13,814	[9],[21],[31]	$ 14,201	[23],[30]
Investments, cost		13,814	[21],[31]	14,201	[23],[30]
Investments, at fair value:		$ 13,814	[21],[31]	$ 14,147	[23],[30]
Investment, Identifier [Axis]: URS Topco, LLC, Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)	[9],[18]	430,540
Investments, cost	[18]	$ 9,669
Investments, at fair value:	[18]	$ 12,298
Investment, Identifier [Axis]: Usalco, LLC., Senior Secured First Lien Debt, 10/19/2027 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.00%	[4],[12],[31]	6.00%	[7],[10],[11]
Interest rate, floor		1.00%	[4],[12],[31]	1.00%	[7],[10],[11]
Principal amount		$ 24,625	[9],[12],[31]	$ 24,750	[10],[11]
Investments, cost		24,441	[12],[31]	24,539	[10],[11]
Investments, at fair value:		24,533	[12],[31]	$ 24,441	[10],[11]
Investment, Identifier [Axis]: Vesta Holdings, LLC., Senior Secured First Lien Debt, 2/25/2024 Maturity 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[10],[23]			9.00%
Principal amount	[10],[23]			$ 21,071
Investments, cost	[10],[23]			21,071
Investments, at fair value:	[10],[23]			$ 19,938
Investment, Identifier [Axis]: Vesta Holdings, LLC., Senior Secured First Lien Debt, 2/25/2024 Maturity 3
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[23]			9.00%
Principal amount	[23]			$ 838
Investments, cost	[23]			838
Investments, at fair value:	[23]			$ 793
Investment, Identifier [Axis]: Vesta Holdings, LLC., Senior Secured First Lien Debt, 3/12/2023 Maturity 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[8],[10]			10.00%
Interest rate, floor	[7],[8],[10]			1.00%
Principal amount	[8],[10]			$ 10,392
Investments, cost	[8],[10]			10,159
Investments, at fair value:	[8],[10]			10,392
Investment, Identifier [Axis]: Volta Charging, LLC., Senior Secured First Lien Debt, 6/19/2024 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Principal amount	[10]			5,621
Investments, cost	[10]			5,617
Investments, at fair value:	[10]			6,506
Investment, Identifier [Axis]: Volta Charging, LLC., Senior Secured First Lien Debt, 6/19/2024 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Principal amount	[10]			1,500
Investments, cost	[10]			1,499
Investments, at fair value:	[10]			1,736
Investment, Identifier [Axis]: WPLM Acquisition Corp., Unsecured Debt, 11/24/2025 Maturity
Schedule of Equity Method Investments [Line Items]
Principal amount		7,623	[9],[21]	7,623	[23]
Investments, cost		7,575	[21]	7,567	[23]
Investments, at fair value:		$ 7,413	[21]	$ 7,327	[23]
Investment, Identifier [Axis]: Williams Industrial Services Group, Inc., Senior Secured First Lien Debt, 12/16/2025 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[6],[7],[11],[23]			9.00%
Interest rate, floor	[6],[7],[11],[23]			1.00%
Principal amount	[6],[11],[23]			$ 7,173
Investments, cost	[6],[11],[23]			7,173
Investments, at fair value:	[6],[11],[23]			$ 7,182
Investment, Identifier [Axis]: Williams Industrial Services Group, Inc., Senior Secured First Lien Debt, 12/16/2025 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[3],[4],[5],[21]	11.00%
Interest rate, floor	[3],[4],[5],[21]	1.00%
Principal amount	[3],[5],[9],[21]	$ 7,693
Investments, cost	[3],[5],[21]	7,693
Investments, at fair value:	[3],[5],[21]	$ 7,540
Investment, Identifier [Axis]: Williams Industrial Services Group, Inc., Senior Secured First Lien Debt, 12/16/2025 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[5],[21]	11.00%
Interest rate, floor	[4],[5],[21]	1.00%
Principal amount	[5],[9],[21]	$ 1,429
Investments, cost	[5],[21]	1,429
Investments, at fair value:	[5],[21]	$ 1,400
Investment, Identifier [Axis]: Wok Holdings Inc., Senior Secured First Lien Debt, 3/1/2026 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		6.50%	[4],[12],[24]	6.50%	[7],[10],[11]
Interest rate, floor		0.00%	[4],[12],[24]	0.00%	[7],[10],[11]
Principal amount		$ 24,974	[9],[12],[24]	$ 25,105	[10],[11]
Investments, cost		24,317	[12],[24]	24,335	[10],[11]
Investments, at fair value:		$ 23,938	[12],[24]	$ 21,684	[10],[11]
Investment, Identifier [Axis]: WorkGenius, Inc., Senior Secured First Lien Debt, 6/7/2027 Maturity 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[8],[10]			7.00%
Interest rate, floor	[7],[8],[10]			0.50%
Principal amount	[8],[10]			$ 12,938
Investments, cost	[8],[10]			12,937
Investments, at fair value:	[8],[10]			12,938
Investment, Identifier [Axis]: WorkGenius, Inc., Senior Secured First Lien Debt, 6/7/2027 Maturity 2
Schedule of Equity Method Investments [Line Items]
Principal amount				750
Investments, cost				(15)
Investments, at fair value:				$ 0
Investment, Identifier [Axis]: WorkGenius, Inc., Senior Secured First Lien Debt, 6/7/2027 Maturity, 1
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[5],[12]	7.50%
Interest rate, floor	[4],[5],[12]	1.00%
Principal amount	[5],[9],[12]	$ 10,385
Investments, cost	[5],[12]	10,385
Investments, at fair value:	[5],[12]	$ 10,385
Investment, Identifier [Axis]: WorkGenius, Inc., Senior Secured First Lien Debt, 6/7/2027 Maturity, 2
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[5]	7.50%
Interest rate, floor	[4],[5]	1.00%
Principal amount	[5],[9]	$ 750
Investments, cost	[5]	737
Investments, at fair value:	[5]	$ 750
Investment, Identifier [Axis]: WorkGenius, LLC, Class A Units., Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)		500	[9],[18]	500	[20]
Investments, cost		$ 500	[18]	$ 500	[20]
Investments, at fair value:		$ 415	[18]	$ 515	[20]
Investment, Identifier [Axis]: Xenon Arc, Inc., Senior Secured First Lien Debt, 12/17/2027 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate		5.25%	[4],[12],[22]	5.25%	[7],[10],[11]
Interest rate, floor		0.75%	[4],[12],[22]	0.75%	[7],[10],[11]
Principal amount		$ 3,895	[9],[12],[22]	$ 6,915	[10],[11]
Investments, cost		3,861	[12],[22]	6,846	[10],[11]
Investments, at fair value:		$ 3,895	[12],[22]	$ 6,846	[10],[11]
Investment, Identifier [Axis]: Yak Access, LLC, Senior Secured First Lien Debt, 07/11/2025 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[7],[10]			4.00%
Interest rate, floor	[7],[10]			0.00%
Principal amount	[10]			$ 4,925
Investments, cost	[10]			3,299
Investments, at fair value:	[10]			$ 3,165
Investment, Identifier [Axis]: Yak Access, LLC., Senior Secured First Lien Debt, 3/10/2028 Maturity
Schedule of Equity Method Investments [Line Items]
Interest rate basis spread on variable rate	[4],[5],[12]	6.40%
Interest rate, floor	[4],[5],[12]	1.00%
Principal amount	[5],[9],[12]	$ 2,972
Investments, cost	[5],[12]	2,972
Investments, at fair value:	[5],[12]	$ 2,972
Investment, Identifier [Axis]: Yak Holding II, LLC, Series A Common Units, Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)	[9],[18]	127,419
Investments, cost	[18]	$ 0
Investments, at fair value:	[18]	$ 573
Investment, Identifier [Axis]: Yak Holding II, LLC, Series A Preferred Units, Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)	[9],[18]	4,000,000
Investments, cost	[18]	$ 2,000
Investments, at fair value:	[18]	$ 4,000
Investment, Identifier [Axis]: Yak Holding II, LLC, Series B-1 Preferred Units, Equity
Schedule of Equity Method Investments [Line Items]
Principal units (in shares)	[9],[18]	1,966,018
Investments, cost	[18]	$ 1,966
Investments, at fair value:	[18]	$ 1,966

[1] Represents amortized cost for debt securities and cost for equity investments.

[2] Fair value determined in good faith by the Company’s board of directors (see Note 9), including via delegation to CIM as the Company’s valuation designee (see Note 2), using significant unobservable inputs unless otherwise noted.

[3] Investment or a portion thereof held within the Company’s wholly-owned consolidated subsidiary, Murray Hill Funding II, LLC, or Murray Hill Funding II, and was pledged as collateral supporting the amounts outstanding under the repurchase agreement with UBS AG, or UBS, as of June 30, 2023 (see Note 8).

[4] The actual Secured Overnight Financing Rate, or SOFR, rate for each loan listed may not be the applicable SOFR rate as of June 30, 2023, as the loan may have been priced or repriced based on a SOFR rate prior to or subsequent to June 30, 2023. The actual London Interbank Offered Rate, or LIBOR, rate for each loan listed may not be the applicable LIBOR rate as of June 30, 2023, as the loan may have been priced or repriced based on a LIBOR rate prior to or subsequent to June 30, 2023.

[5] The interest rate on these loans is subject to 3 month SOFR, which as of June 30, 2023 was 5.27%.

[6] Investment or a portion thereof held within the Company’s wholly-owned consolidated subsidiary, Murray Hill Funding II, and was pledged as collateral supporting the amounts outstanding under the repurchase agreement with UBS as of December 31, 2022 (see Note 8).

[7] The actual LIBOR rate for each loan listed may not be the applicable LIBOR rate as of December 31, 2022, as the loan may have been priced or repriced based on a LIBOR rate prior to or subsequent to December 31, 2022. The actual SOFR rate for each loan listed may not be the applicable SOFR rate as of December 31, 2022, as the loan may have been priced or repriced based on a SOFR rate prior to or subsequent to December 31, 2022.

[8] The interest rate on these loans is subject to 3 month SOFR, which as of December 31, 2022 was 4.59%.

[9] Denominated in U.S. dollars unless otherwise noted.

[10] Investment or a portion thereof held within the Company’s wholly-owned consolidated subsidiary, 34th Street, and was pledged as collateral supporting the amounts outstanding under the credit facility with JPM as of December 31, 2022 (see Note 8).

[11] The interest rate on these loans is subject to 3 month LIBOR, which as of December 31, 2022 was 4.77%.

[12] Investment or a portion thereof held within the Company’s wholly-owned consolidated subsidiary, 34th Street Funding, LLC, or 34th Street, and was pledged as collateral supporting the amounts outstanding under the credit facility with JPMorgan Chase Bank, National Association, or JPM, as of June 30, 2023 (see Note 8).

[13] The CLO subordinated notes are considered equity positions in the CLO vehicles and are not rated. Equity investments are entitled to recurring distributions, which are generally equal to the remaining cash flow of the payments made by the underlying vehicle's securities less contractual payments to debt holders and expenses. The estimated yield indicated is based upon a current projection of the amount and timing of these recurring distributions and the estimated amount of repayment of principal upon termination. Such projections are periodically reviewed and adjusted, and the estimated yield may not ultimately be realized.

[14] The investment or a portion thereof is not a qualifying asset under the 1940 Act. A business development company may not acquire any asset other than qualifying assets, unless, at the time the acquisition is made, qualifying assets represent at least 70% of the company’s total assets as defined under Section 55 of the 1940 Act. As of June 30, 2023, 94.3% of the Company’s total assets represented qualifying assets.

[15] The CLO subordinated notes are considered equity positions in the CLO vehicles and are not rated. Equity investments are entitled to recurring distributions, which are generally equal to the remaining cash flow of the payments made by the underlying vehicle's securities less contractual payments to debt holders and expenses. The estimated yield indicated is based upon a current projection of the amount and timing of these recurring distributions and the estimated amount of repayment of principal upon termination. Such projections are periodically reviewed and adjusted, and the estimated yield may not ultimately be realize

[16] The investment or a portion thereof is not a qualifying asset under the 1940 Act. A business development company may not acquire any asset other than qualifying assets, unless, at the time the acquisition is made, qualifying assets represent at least 70% of the company’s total assets as defined under Section 55 of the 1940 Act. As of December 31, 2022, 93.4% of the Company’s total assets represented qualifying assets.

[17] Investment determined to be an affiliated investment as defined in the 1940 Act as the Company owns between 5% and 25% of the portfolio company’s outstanding voting securities but does not control the portfolio company. Fair value as of December 31, 2022 and June 30, 2023, along with transactions during the six months ended June 30, 2023 in these affiliated investments, were as follows: Six Months Ended June 30, 2023 Six Months Ended June 30, 2023 Non-Controlled, Affiliated InvestmentsFair Value at
December 31, 2022Gross
Additions
(Cost)(1)Gross
Reductions
(Cost)(2)Net Unrealized Gain (Loss) Fair Value at June 30, 2023 Net Realized Gain (Loss)Interest
Income(3)Dividend IncomeFee Income    Afore Insurance Services, LLC        First Lien Term Loan$— $4,583 $— $(11)$4,572 $— $138 $— $—     ARC Financial, LLC        Membership Interests— — — — — — — 25 —     Carestream Health, Inc.        First Lien Term Loan7,539 2,895 (115)1,104 11,423 — 534 — —     Carestream Health Holdings Inc.        Common Shares21,544 — — (828)20,716 — — — —     DESG Holdings, Inc.        First Lien Term Loan246 — (82)(34)130 — — — —     GSC Technologies Inc.        Incremental Term Loan154 6 (160)— — — 11 — —         First Lien Term Loan A2,064 14 — 49 2,127 — 136 — —         First Lien Term Loan B388 48 — 258 694 — 53 — —         Common Shares— — — — — — — — —     Instant Web Holdings, LLC        Class A Common Units— — — — — — — — —     Instant Web, LLC        Revolving Loan321 2,093 — (75)2,339 — 78 — —         Priming Term Loan469 10 — — 479 — 27 — —         First Lien Term Loan28,167 2,447 — (5,265)25,349 — 2,436 — —         First Lien Delayed Draw Term Loan— — — (89)(89)— 8 — —     IPP Buyer Holdings, LLC        Class A Units— 10,740 — 993 11,733 — — — —     Isagenix International, LLC        First Lien Term Loan— 8,237 — — 8,237 — 189 — 477     Isagenix Worldwide, Inc.        Common Shares— 8,987 — — 8,987 — — — —     Lift Brands, Inc.        Term Loan A23,287 — (118)— 23,169 — 1,440 — 29         Term Loan B5,154 234 — 42 5,430 — 280 — —         Term Loan C4,732 1,335 — (51)6,016 — 348 — 1,891     Longview Intermediate Holdings C, LLC        Membership Units23,995 — — (2,315)21,680 — — 3,881 —     Longview Power, LLC        First Lien Term Loan2,348 — (1,389)(959)— — 1,306 — —     Mount Logan Capital Inc.        Common Stock2,341 — — (75)2,266 — — 27 —     Snap Fitness Holdings, Inc.        Class A Stock5,123 — — (187)4,936 — — — —         Warrants2,077 — — (76)2,001 — — — —     SRA Holdings, LLC        Membership Units— 23,611 — 95 23,706 — — — —     STATinMED, LLC        First Lien Term Loan9,107 683 — (133)9,657 — 696 — —         Delayed Draw First Lien Term Loan156 6 (162)— — — 10 — —     STATinMed Parent, LLC        Class A Preferred Units4,530 — — (2,004)2,526 — — — —         Class B Preferred Units134 — — (134)— — — — —     Totals$143,876 $65,929 $(2,026)$(9,695)$198,084 $— $7,690 $3,933 $2,397  See accompanying notes to consolidated financial statements. CĪON Investment Corporation Consolidated Schedule of Investments (unaudited) June 30, 2023 (in thousands) (1)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, 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. (2)Gross reductions include decreases in the cost basis of investments 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. (3)Includes PIK interest income.

[18] Non-income producing security.

[19] Investment determined to be an affiliated investment as defined in the 1940 Act as the Company owns between 5% and 25% of the portfolio company’s outstanding voting securities but does not control the portfolio company. Fair value as of December 31, 2021 and 2022, along with transactions during the year ended December 31, 2022 in these affiliated investments, were as follows: Year Ended December 31, 2022Year Ended December 31, 2022Non-Controlled, Affiliated InvestmentsFair Value at
December 31, 2021Gross
Additions
(Cost)(1)Gross
Reductions
(Cost)(2)Net Unrealized Gain (Loss)Fair Value at December 31, 2022Net Realized Gain (Loss)Interest
Income(3)Dividend Income    ARC Financial, LLC        Membership Interests$— $— $— $— $— $— $— $25     Berlitz Holdings, Inc.        First Lien Term Loan— 13,956 (13,956)— — — 393 —     Carestream Health, Inc.        First Lien Term Loan— 7,596 — (57)7,539 — 284 —     Carestream Health Holdings Inc.        Common Shares— 21,758 — (214)21,544 — — —     Charming Charlie, LLC        Vendor Payment Financing Facility350 — (657)307 — (657)26 —     DESG Holdings, Inc.        First Lien Term Loan1,787 — (306)(1,235)246 — 5 —         Second Lien Term Loan— — (10,017)10,017 — (10,017)— —     GSC Technologies Inc.        Incremental Term Loan170 8 (24)— 154 — 22 —         First Lien Term Loan A2,001 26 — 37 2,064 — 193 —         First Lien Term Loan B485 67 — (164)388 — 72 —         Common Shares— — — — — — — —     Instant Web Holdings, LLC        Class A Common Units— — — — — — — —     Instant Web, LLC        Revolving Loan— 970 (649)— 321 — 26 —         Priming Term Loan— 458 — 11 469 — 36 —         First Lien Term Loan— 39,802 — (11,635)28,167 — 3,314 —         First Lien Delayed Draw Term Loan— — — — — — 14 —     Language Education Holdings GP LLC        Common Units— — — — — — — —     Language Education Holdings LP        Ordinary Common Units— 1,125 (1,125)— — — — —     Lift Brands, Inc.        Term Loan A23,406 — (236)117 23,287 — 2,252 —         Term Loan B5,156 235 — (237)5,154 — 545 —         Term Loan C4,700 133 — (101)4,732 — 1,412 —     Longview Intermediate Holdings C, LLC        Membership Units15,127 — — 8,868 23,995 — — —     Longview Power, LLC        First Lien Term Loan4,504 156 (1,391)(921)2,348 — 1,952 —     Mount Logan Capital Inc.        Common Stock3,404 — — (1,063)2,341 — — 54     SIMR, LLC        First Lien Term Loan16,000 1,447 (21,261)3,814 — (2,854)804 —     SIMR Parent, LLC        Class B Membership Units— — (8,002)8,002 — (8,002)— —         Class W Membership Units— — — — — — — —  See accompanying notes to consolidated financial statements CĪON Investment Corporation Consolidated Schedule of Investments December 31, 2022 (in thousands) Year Ended December 31, 2022Year Ended December 31, 2022Non-Controlled, Affiliated InvestmentsFair Value at
December 31, 2021Gross
Additions
(Cost)(1)Gross
Reductions
(Cost)(2)Net Unrealized Gain (Loss)Fair Value at December 31, 2022Net Realized Gain (Loss)Interest
Income(3)Dividend Income    Snap Fitness Holdings, Inc.        Class A Stock3,131 — — 1,992 5,123 — — —         Warrants1,269 — — 808 2,077 — — —     STATinMED, LLC        First Lien Term Loan— 9,472 (250)(115)9,107 — 719 —         Delayed Draw First Lien Term Loan— 153 — 3 156 — — —     STATinMed Parent, LLC        Class A Preferred Units— 6,182 — (1,652)4,530 — — —         Class B Preferred Units— 3,193 — (3,059)134 — — —     Totals$81,490 $106,737 $(57,874)$13,523 $143,876 $(21,530)$12,069 $79  (1)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, 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. (2)Gross reductions include decreases in the cost basis of investments 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. (3)Includes PIK interest income.

[20] Non-income producing security.

[21] As of June 30, 2023, the below investments contain a PIK interest provision whereby the issuer has either the option or the obligation to make interest payments with the issuance of additional securities. For certain investments, the borrower may toggle between cash and PIK interest payments.   Interest RatePortfolio CompanyInvestment TypeCashPIKAll-in-RateAdapt Laser Acquisition, Inc.Senior Secured First Lien Debt15.24%2.00%17.24%American Clinical Solutions LLCSenior Secured First Lien Debt7.00%5.19%12.19%American Consolidated Natural Resources, Inc.Senior Secured First Lien Debt18.27%3.00%21.27%Ancile Solutions, Inc.Senior Secured First Lien Debt12.56%3.00%15.56%Anthem Sports & Entertainment Inc.Senior Secured First Lien Debt11.91%2.75%14.66%CION/EagleTree Partners, LLCSenior Secured Note—14.00%14.00%David's Bridal, LLCSenior Secured First Lien Debt14.25%5.00%19.25%David's Bridal, LLCSenior Secured First Lien Debt10.54%5.00%15.54%David's Bridal, LLCSenior Secured First Lien Debt1.00%11.54%12.54%Deluxe Entertainment Services, Inc.Senior Secured First Lien Debt10.54%1.50%12.04%Fusion Connect Inc.Senior Secured First Lien Debt12.86%1.00%13.86%GSC Technologies Inc.Senior Secured First Lien Debt—10.23%10.23%Hilliard, Martinez & Gonzales, LLPSenior Secured First Lien Debt—17.27%17.27%Homer City Generation, L.P.Senior Secured First Lien Debt—15.00%15.00%Instant Web, LLCSenior Secured First Lien Debt—12.22%12.22%Instant Web, LLCSenior Secured First Lien Debt—12.00%12.00%Instant Web, LLCSenior Secured Revolving Loan—11.77%11.77%K&N Parent, Inc.Senior Secured First Lien Debt—13.40%13.40%Klein Hersh, LLCSenior Secured First Lien Debt4.90%12.00%16.90%Lift Brands, Inc.Senior Secured First Lien Debt—9.50%9.50%Lucky Bucks Holdings LLCUnsecured Note—12.50%12.50%Robert C. Hilliard, L.L.P.Senior Secured First Lien Debt—17.27%17.27%Rogers Mechanical Contractors, LLCSenior Secured First Lien Debt12.09%1.00%13.09%Service Compression, LLCSenior Secured First Lien Debt13.20%2.00%15.20%Spinal USA, Inc. / Precision Medical Inc.Senior Secured First Lien Debt—14.68%14.68%STATinMED, LLCSenior Secured First Lien Debt—14.79%14.79%Trademark Global, LLCSenior Secured First Lien Debt8.10%4.50%12.60%Trammell, P.C.Senior Secured First Lien Debt—20.72%20.72%Williams Industrial Services Group, Inc.Senior Secured First Lien Debt10.00%6.18%16.18%WPLM Acquisition Corp.Unsecured Note—15.00%15.00%

[22] The interest rate on these loans is subject to 3 month LIBOR, which as of June 30, 2023 was 5.54%

[23] As of December 31, 2022, the below investments contain a PIK interest provision whereby the issuer has either the option or the obligation to make interest payments with the issuance of additional securities. For certain investments, the borrower may toggle between cash and PIK interest payments.   Interest RatePortfolio CompanyInvestment TypeCashPIKAll-in-RateAdapt Laser Acquisition, Inc.Senior Secured First Lien Debt14.76%2.00%16.76%American Clinical Solutions LLCSenior Secured First Lien Debt7.00%4.27%11.27%American Consolidated Natural Resources, Inc.Senior Secured First Lien Debt17.33%3.00%20.33%Ancile Solutions, Inc.Senior Secured First Lien Debt11.75%3.00%14.75%Anthem Sports & Entertainment Inc.Senior Secured First Lien Debt11.48%2.75%14.23%Cadence Aerospace, LLCSenior Secured First Lien Debt10.92%2.00%12.92%CION/EagleTree Partners, LLCSenior Secured Note—14.00%14.00%David's Bridal, LLCSenior Secured First Lien Debt9.28%5.00%14.28%David's Bridal, LLCSenior Secured First Lien Debt1.00%9.42%10.42%Deluxe Entertainment Services, Inc.Senior Secured First Lien Debt9.73%1.50%11.23%Fusion Connect Inc.Senior Secured First Lien Debt11.69%1.00%12.69%GSC Technologies Inc.Senior Secured First Lien Debt—9.12%9.12%GSC Technologies Inc.Senior Secured First Lien Debt9.37%5.00%14.37%Hilliard, Martinez & Gonzales, LLPSenior Secured First Lien Debt—16.24%16.24%Homer City Generation, L.P.Senior Secured First Lien Debt—15.00%15.00%Independent Pet Partners Intermediate Holdings, LLCSenior Secured First Lien Debt—6.00%6.00%Independent Pet Partners Intermediate Holdings, LLCSenior Secured First Lien Debt—13.00%13.00%Independent Pet Partners Intermediate Holdings, LLCSenior Secured First Lien Debt—11.26%11.26%Independent Pet Partners Intermediate Holdings, LLCSenior Secured First Lien Debt—14.42%14.42%Instant Web, LLCSenior Secured First Lien Debt—11.38%11.38%Lucky Bucks Holdings LLCUnsecured Note—12.50%12.50%Robert C. Hilliard, L.L.P.Senior Secured First Lien Debt—16.24%16.24%Rogers Mechanical Contractors, LLCSenior Secured First Lien Debt11.70%1.00%12.70%Service Compression, LLCSenior Secured First Lien Debt12.83%2.00%14.83%Spinal USA, Inc. / Precision Medical Inc.Senior Secured First Lien Debt—13.24%13.24%STATinMED, LLCSenior Secured First Lien Debt—13.80%13.80%STATinMED, LLCSenior Secured First Lien Debt—13.94%13.94%Trademark Global, LLCSenior Secured First Lien Debt7.07%4.50%11.57%Trammell, P.C.Senior Secured First Lien Debt—19.94%19.94%Vesta Holdings, LLCSenior Secured First Lien Debt—21.50%21.50%Williams Industrial Services Group, Inc.Senior Secured First Lien Debt10.00%2.75%12.75%WPLM Acquisition Corp.Unsecured Note—15.00%15.00%

[24] The interest rate on these loans is subject to 1 month LIBOR, which as of June 30, 2023 was 5.22%.

[25] The interest rate on these loans is subject to 1 month LIBOR, which as of December 31, 2022 was 4.39%.

[26] The interest rate on these loans is subject to 6 month SOFR, which as of June 30, 2023 was 5.39%.

[27] The interest rate on these loans is subject to 6 month LIBOR, which as of December 31, 2022 was 5.14%.

[28] Investment or a portion thereof was on non-accrual status as of December 31, 2022.

[29] Investment or a portion thereof was on non-accrual status as of June 30, 2023.

[30] The interest rate on these loans is subject to 1 month SOFR, which as of December 31, 2022 was 4.36%.

[31] The interest rate on these loans is subject to 1 month SOFR, which as of June 30, 2023 was 5.14%.

[32] Investment determined to be a controlled investment as defined in the 1940 Act as the Company is deemed to exercise a controlling influence over the management or policies of the portfolio company due to beneficially owning, either directly or through one or more controlled companies, more than 25% of the outstanding voting securities of such portfolio company. Fair value as of December 31, 2022 and June 30, 2023, along with transactions during the six months ended June 30, 2023 in these controlled investments, were as follows: Six Months Ended June 30, 2023 Six Months Ended June 30, 2023 Controlled InvestmentsFair Value at
December 31, 2022Gross
Additions
(Cost)(1)Gross
Reductions
(Cost)(2)Net 
Unrealized
Gain (Loss) Fair Value at June 30, 2023 Net Realized
Gain (Loss)Interest
Income(3)Dividend Income    CION/EagleTree Partners, LLC        Senior Secured Note$60,348 $— $(5,521)$— $54,827 $— $3,891 $—         Participating Preferred Shares30,766 — — (5,587)25,179 — — 4,250         Common Shares— — — — — — — —     Totals$91,114 $— $(5,521)$(5,587)$80,006 $— $3,891 $4,250  (1)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, 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. (2)Gross reductions include decreases in the cost basis of investments 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. (3)Includes PIK interest income.

[33] Investment determined to be a controlled investment as defined in the 1940 Act as the Company is deemed to exercise a controlling influence over the management or policies of the portfolio company due to beneficially owning, either directly or through one or more controlled companies, more than 25% of the outstanding voting securities of such portfolio company. Fair value as of December 31, 2021 and 2022, along with transactions during the year ended December 31, 2022 in these controlled investments, were as follows: Year Ended December 31, 2022Year Ended December 31, 2022Controlled InvestmentsFair Value at
December 31, 2021Gross
Additions
(Cost)(1)Gross
Reductions
(Cost)(2)Net 
Unrealized
Gain (Loss)Fair Value at
December 31, 2022Net Realized
Gain (Loss)Interest
Income(3)Dividend Income    CION/EagleTree Partners, LLC        Senior Secured Note$61,629 $2,718 $(3,999)$— $60,348 $— $8,531 $—         Participating Preferred Shares29,796 — — 970 30,766 — — 1,275         Common Shares— — — — — — — —     Totals$91,425 $2,718 $(3,999)$970 $91,114 $— $8,531 $1,275  (1)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, 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. (2)Gross reductions include decreases in the cost basis of investments 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. (3)Includes PIK interest income.

[34] As of June 30, 2023, the below investments contain a PIK interest provision whereby the issuer has either the option or the obligation to make interest payments with the issuance of additional securities. For certain investments, the borrower may toggle between cash and PIK interest payments.   Interest RatePortfolio CompanyInvestment TypeCashPIKAll-in-RateAdapt Laser Acquisition, Inc.Senior Secured First Lien Debt15.24%2.00%17.24%American Clinical Solutions LLCSenior Secured First Lien Debt7.00%5.19%12.19%American Consolidated Natural Resources, Inc.Senior Secured First Lien Debt18.27%3.00%21.27%Ancile Solutions, Inc.Senior Secured First Lien Debt12.56%3.00%15.56%Anthem Sports & Entertainment Inc.Senior Secured First Lien Debt11.91%2.75%14.66%CION/EagleTree Partners, LLCSenior Secured Note—14.00%14.00%David's Bridal, LLCSenior Secured First Lien Debt14.25%5.00%19.25%David's Bridal, LLCSenior Secured First Lien Debt10.54%5.00%15.54%David's Bridal, LLCSenior Secured First Lien Debt1.00%11.54%12.54%Deluxe Entertainment Services, Inc.Senior Secured First Lien Debt10.54%1.50%12.04%Fusion Connect Inc.Senior Secured First Lien Debt12.86%1.00%13.86%GSC Technologies Inc.Senior Secured First Lien Debt—10.23%10.23%Hilliard, Martinez & Gonzales, LLPSenior Secured First Lien Debt—17.27%17.27%Homer City Generation, L.P.Senior Secured First Lien Debt—15.00%15.00%Instant Web, LLCSenior Secured First Lien Debt—12.22%12.22%Instant Web, LLCSenior Secured First Lien Debt—12.00%12.00%Instant Web, LLCSenior Secured Revolving Loan—11.77%11.77%K&N Parent, Inc.Senior Secured First Lien Debt—13.40%13.40%Klein Hersh, LLCSenior Secured First Lien Debt4.90%12.00%16.90%Lift Brands, Inc.Senior Secured First Lien Debt—9.50%9.50%Lucky Bucks Holdings LLCUnsecured Note—12.50%12.50%Robert C. Hilliard, L.L.P.Senior Secured First Lien Debt—17.27%17.27%Rogers Mechanical Contractors, LLCSenior Secured First Lien Debt12.09%1.00%13.09%Service Compression, LLCSenior Secured First Lien Debt13.20%2.00%15.20%Spinal USA, Inc. / Precision Medical Inc.Senior Secured First Lien Debt—14.68%14.68%STATinMED, LLCSenior Secured First Lien Debt—14.79%14.79%Trademark Global, LLCSenior Secured First Lien Debt8.10%4.50%12.60%Trammell, P.C.Senior Secured First Lien Debt—20.72%20.72%Williams Industrial Services Group, Inc.Senior Secured First Lien Debt10.00%6.18%16.18%WPLM Acquisition Corp.Unsecured Note—15.00%15.00%

[35] As of December 31, 2022, the index rate for $2,096 and $1,943 was 1 Month LIBOR and 3 Month LIBOR, respectively.

[36] On July 21, 2023, the Company acquired substantially all of the assets of David's Bridal, LLC in a non-cash transaction upon exit from bankruptcy.

[37] In addition to the interest earned based on the stated interest rate of this loan, which is the amount reflected in this schedule, the Company may be entitled to receive additional residual amounts.

[38] In addition to the interest earned based on the stated interest rate of this loan, which is the amount reflected in this schedule, the Company may be entitled to receive additional residual amounts.

[39] The interest rate on these loans is subject to 6 month LIBOR, which as of June 30, 2023 was 5.76%.

[40] The ultimate interest earned on this loan will be determined based on the portfolio company’s EBITDA at a specified trigger event.

[41] Company has entered into a proceeds agreement with Macquarie Capital Funding LLC, or Macquarie, in which any proceeds received by Macquarie from an underlying first lien term loan are passed onto the Company. Macquarie's obligations under the proceeds agreement are not secured by any collateral. The interest rate, maturity date, par balance and industry reflect the terms of the underlying first lien term loan.

[42] Fair value determined using level 1 inputs.

[43] Fair value determined using level 1 inputs.

XML

Joint Ventures - Balance Sheet Information (Details) - USD ($)	Jun. 30, 2023		Dec. 31, 2022
Condensed Balance Sheet Statements, Captions [Line Items]
Investments, at fair value:	$ 1,788,462,000	[1]	$ 1,760,030,000
Cash and other assets	11,515,000		82,739,000
Dividends receivable on controlled investments	0		1,275,000
Interest receivable on investments	33,200,000		26,526,000
Total assets	1,834,782,000		1,872,411,000
Senior secured notes (net of unamortized debt issuance costs of $82 and $94, respectively)	976,737,000		951,322,000
Total liabilities	998,418,000		988,777,000
Total liabilities and shareholders' equity	1,834,782,000		1,872,411,000
Investments, cost	1,865,013,000	[2]	1,803,609,000
Deferred financing costs, net	8,976,000		6,178,000
CION/EagleTree
Condensed Balance Sheet Statements, Captions [Line Items]
Investments, at fair value:	93,612,000		105,978,000
Cash and other assets	0		2,476,000
Dividends receivable on controlled investments	479,000		225,000
Interest receivable on investments	284,000		301,000
Total assets	94,375,000		108,980,000
Senior secured notes (net of unamortized debt issuance costs of $82 and $94, respectively)	64,420,000		70,904,000
Other liabilities	333,000		1,881,000
Total liabilities	64,753,000		72,785,000
Members' capital	29,622,000		36,195,000
Total liabilities and shareholders' equity	94,375,000		108,980,000
Investments, cost	89,808,000		102,619,000
Deferred financing costs, net	$ 82,000		$ 94,000

[1] Fair value determined in good faith by the Company’s board of directors (see Note 9), including via delegation to CIM as the Company’s valuation designee (see Note 2), using significant unobservable inputs unless otherwise noted.

[2] Represents amortized cost for debt securities and cost for equity investments.

XML

Joint Ventures - Statement of Operations Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Condensed Income Statements, Captions [Line Items]
Net change in unrealized appreciation (depreciation) on investments	$ 23,406	$ (20,734)	$ (32,972)	$ (32,259)	$ (5,314)
Net (decrease) increase in net assets	6,054	(17,215)	(47,270)	(25,274)	(46,878)
CION/EagleTree
Condensed Income Statements, Captions [Line Items]
Total revenues	1,468	1,839	3,063	3,723	9,653
Total expenses	2,566	2,802	5,258	5,522	11,120
Net realized gain on investments	0	0	176	0	9,947
Net change in unrealized appreciation (depreciation) on investments	409	(695)	446	(153)	(5,839)
Net (decrease) increase in net assets	$ (689)	$ (1,658)	$ (1,573)	$ (1,952)	$ 2,641

XML

Financing Arrangements - Schedule of Financing Arrangements (Details) - USD ($) $ in Thousands	Jun. 14, 2023	May 15, 2023	Feb. 28, 2023	Apr. 27, 2022	Jun. 30, 2023	Dec. 31, 2022	Apr. 14, 2021	Feb. 11, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Amount Outstanding					$ 985,712
Long-term debt					976,737	$ 951,322
Amount Available					125,000
JPM Credit Facility, SOFR
Debt Instrument [Line Items]
Rate	3.20%
Amount Outstanding					600,000
Amount Available					75,000
JPM Credit Facility, SOFR | SOFR
Debt Instrument [Line Items]
Rate		3.05%
2026 Notes
Debt Instrument [Line Items]
Long-term debt					125,000
Amount Available					0
2026 Notes | Unsecured debt
Debt Instrument [Line Items]
Interest rate								4.50%
Fair value of debt					122,500
UBS Facility
Debt Instrument [Line Items]
Rate	3.20%
Long-term debt					100,000				$ 133,333
Amount Available					50,000
UBS Facility | SOFR
Debt Instrument [Line Items]
Rate	3.525%
Series A Notes
Debt Instrument [Line Items]
Amount Outstanding					80,712
Long-term debt			$ 50
Amount Available					0
Series A Notes | SOFR
Debt Instrument [Line Items]
Rate			3.82%
2022 More Term Loan
Debt Instrument [Line Items]
Amount Outstanding					50,000
Amount Available					0
2022 More Term Loan | Unsecured debt
Debt Instrument [Line Items]
Long-term debt				$ 50,000
2022 More Term Loan | SOFR
Debt Instrument [Line Items]
Rate				3.50%
2021 More Term Loan
Debt Instrument [Line Items]
Amount Outstanding					30,000
Amount Available					0
Fair value of debt					$ 29,513
2021 More Term Loan | Unsecured debt
Debt Instrument [Line Items]
Interest rate							5.20%
Long-term debt							$ 30,000

XML

Financing Arrangements - Narrative (Details) $ in Thousands																	4 Months Ended	6 Months Ended
	Jun. 14, 2023	May 15, 2023 USD ($)	Apr. 14, 2023 USD ($)	Mar. 07, 2023 USD ($)	Feb. 28, 2023 USD ($)	Apr. 27, 2022 USD ($)	Mar. 28, 2022 USD ($)	Aug. 20, 2021 USD ($)	Apr. 14, 2021 USD ($)	Feb. 26, 2021 USD ($)	Feb. 11, 2021 USD ($)	Dec. 17, 2020 USD ($)	Nov. 19, 2020	May 15, 2020 USD ($)	May 19, 2017 USD ($) d subsidiary	Aug. 26, 2016 USD ($)	Apr. 02, 2018 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Apr. 19, 2022 USD ($)	Dec. 14, 2021 USD ($)	Jul. 01, 2021 USD ($)	Dec. 31, 2020 USD ($)	May 19, 2020 USD ($)	May 23, 2018 USD ($)	Dec. 01, 2017 USD ($)	Sep. 30, 2016 USD ($)
Line of Credit Facility [Line Items]
Principal amount																		$ 985,712
Deferred financing costs, net																		8,976	$ 6,178
Long-term debt																		976,737	951,322
Total assets																		1,834,782	1,872,411
Amount Available																		125,000
Murray Hill Funding II
Line of Credit Facility [Line Items]
Total assets																		229,265
Revolving Credit Facility | LIBOR
Line of Credit Facility [Line Items]
Rate	3.375%
JPM Credit Facility | Credit Facility
Line of Credit Facility [Line Items]
Proceeds from issuance of long-term debt																$ 57,000
JPM Credit Facility | Secured Debt
Line of Credit Facility [Line Items]
Prepayment premium percentage							1.00%
Unused fee percentage							1.00%
Long-term line of credit																		$ 600,000	$ 610,000
Membership interest exchange percentage																		100.00%
Debt issuance costs																		$ 13,790
Deferred financing costs, net																		3,726
JPM Credit Facility | Secured Debt | LIBOR
Line of Credit Facility [Line Items]
Rate							0.15%			3.10%				3.25%
JPM Credit Facility | Secured Debt | SOFR
Line of Credit Facility [Line Items]
Rate		0.15%
JPM Credit Facility | Secured Debt | Credit Facility
Line of Credit Facility [Line Items]
Principal amount		$ 675,000					$ 675,000			$ 575,000				$ 700,000		150,000									$ 275,000		$ 225,000
Line of credit facility, additional advances amount							$ 100,000
Line of credit facility, increase (decrease), net		(50,000)
Amount Available		$ 550,000
JPM Credit Facility | Revolving Credit Facility | Credit Facility
Line of Credit Facility [Line Items]
Principal amount														75,000		$ 25,000									$ 25,000		$ 25,000
UBS Facility
Line of Credit Facility [Line Items]
Rate	3.20%
Debt instrument, aggregate principal amount															$ 125,000		$ 200,000
Long-term debt																		100,000					$ 133,333
Number of financing subsidiaries | subsidiary															2
Debt instrument, redemption price, percentage of principal amount redeemed															65.00%		75.00%
Debt instrument, repurchased face amount																								$ 133,333
Debt instrument, repurchase amount																							$ 100,000	$ 100,000
Repayments of debt, percentage																								50.00%
Percentage of initial market value												10.00%
Amount Available																		50,000
UBS Facility | Murray Hill Funding II
Line of Credit Facility [Line Items]
Debt issuance costs												$ 2,637
Debt instrument, aggregate principal amount															$ 192,308											$ 266,667
Number of business days to cure payment failure | d															3
UBS Facility | LIBOR
Line of Credit Facility [Line Items]
Rate												3.375%	3.90%		3.50%
UBS Facility | SOFR
Line of Credit Facility [Line Items]
Rate	3.525%
UBS Facility | Secured Debt
Line of Credit Facility [Line Items]
Repayments of long-term debt														$ 100,000
JPM Credit Facility, SOFR
Line of Credit Facility [Line Items]
Principal amount																		600,000
Rate	3.20%
Amount Available																		75,000
JPM Credit Facility, SOFR | SOFR
Line of Credit Facility [Line Items]
Rate		3.05%
JPM Credit Facility, SOFR | Secured Debt | SOFR
Line of Credit Facility [Line Items]
Rate							3.10%
2026 Notes
Line of Credit Facility [Line Items]
Long-term debt																		125,000
Amount Available																		0
2026 Notes | Unsecured debt
Line of Credit Facility [Line Items]
Proceeds from issuance of long-term debt											$ 122,300
Debt issuance costs																		2,669
Deferred financing costs, net																		$ 1,398
Debt instrument, aggregate principal amount											$ 125,000
Interest rate											4.50%
Debt instrument, redemption, minimum threshold percentage											10.00%
Minimum shareholders' equity, percentage of net asset value											60.00%
Net cash proceeds sale of certain equity interests											50.00%
Minimum asset coverage ratio											150.00%
Minimum interest coverage ratio											1.25
Unencumbered asset coverage ratio											1.25
Percentage of secured loans and cash of total unencumbered assets											65.00%
Percentage of equity interests of total unencumbered assets											15.00%
Unsecured credit facilities, loans or indebtedness in excess											$ 25,000
Minimum threshold of principal amount subject to evens of default											$ 25,000
2026 Notes | Unsecured debt | On Or Before February 11, 2024
Line of Credit Facility [Line Items]
Redemption discount, percentage											0.50%
Debt instrument, redemption price, percentage of principal amount redeemed											100.00%
2026 Notes | Unsecured debt | On Or Before February 11, 2025
Line of Credit Facility [Line Items]
Debt instrument, redemption price, percentage of principal amount redeemed											102.00%
2026 Notes | Unsecured debt | After February 11, 2025 But On Or Before August 11, 2025
Line of Credit Facility [Line Items]
Debt instrument, redemption price, percentage of principal amount redeemed											101.00%
2026 Notes | Unsecured debt | After August 11, 2025
Line of Credit Facility [Line Items]
Debt instrument, redemption price, percentage of principal amount redeemed											100.00%
A-R Notes
Line of Credit Facility [Line Items]
Repayments of long-term debt			$ 25	$ 17,500				$ 21,000
Debt instrument, redemption price, percentage of principal amount redeemed																		100.00%
Debt instrument, repurchased face amount			25	17,500				21,000
Debt instrument, repurchase amount			$ 25	$ 17,500				$ 21,000
A-R Notes | Revolving Credit Facility
Line of Credit Facility [Line Items]
Principal amount												$ 50,000
Unused fee percentage												0.75%
Debt instrument, repurchased face amount																				$ 17,500	$ 25,000	$ 21,000
Debt instrument, face amount that may be issued												$ 150,000
A-R Notes | Revolving Credit Facility | LIBOR
Line of Credit Facility [Line Items]
Rate												3.375%
Series A Notes
Line of Credit Facility [Line Items]
Principal amount																		$ 80,712
Proceeds from issuance of long-term debt					$ 77,900
Debt instrument, aggregate principal amount					$ 80,712
Minimum asset coverage ratio					150.00%
Unencumbered asset coverage ratio					1.25
Long-term debt					$ 50
Minimum shareholders' equity, amount of net asset value					$ 525,000
Amount Available																		0
Series A Notes | SOFR
Line of Credit Facility [Line Items]
Rate					3.82%
Series A Notes | Secured Debt
Line of Credit Facility [Line Items]
Debt issuance costs																		3,006
Deferred financing costs, net																		2,714
2022 More Term Loan
Line of Credit Facility [Line Items]
Principal amount																		50,000
Proceeds from issuance of long-term debt						$ 49,000
Amount Available																		0
2022 More Term Loan | SOFR
Line of Credit Facility [Line Items]
Rate						3.50%
2022 More Term Loan | Unsecured debt
Line of Credit Facility [Line Items]
Debt issuance costs																		1,025
Deferred financing costs, net																		784
Debt instrument, aggregate principal amount						$ 50,000
Minimum shareholders' equity, percentage of net asset value						60.00%
Net cash proceeds sale of certain equity interests						50.00%
Minimum asset coverage ratio						150.00%
Unencumbered asset coverage ratio						1.25
Percentage of secured loans and cash of total unencumbered assets						65.00%
Percentage of equity interests of total unencumbered assets						15.00%
Minimum threshold of principal amount subject to evens of default						$ 25,000
Long-term debt						$ 50,000
2022 More Term Loan | Unsecured debt | SOFR
Line of Credit Facility [Line Items]
Debt instrument, basis spread on prepayment fee						2.00%
2022 More Term Loan | Unsecured debt | SOFR Floor Rate
Line of Credit Facility [Line Items]
Rate						1.00%
2021 More Term Loan
Line of Credit Facility [Line Items]
Principal amount																		30,000
Amount Available																		0
2021 More Term Loan | Unsecured debt
Line of Credit Facility [Line Items]
Proceeds from issuance of long-term debt									$ 29,000
Debt issuance costs																		992
Deferred financing costs, net																		$ 354
Debt instrument, aggregate principal amount									$ 30,000
Interest rate									5.20%
Minimum shareholders' equity, percentage of net asset value									60.00%
Net cash proceeds sale of certain equity interests									50.00%
Minimum asset coverage ratio									150.00%
Unencumbered asset coverage ratio									1.25
Percentage of secured loans and cash of total unencumbered assets									65.00%
Percentage of equity interests of total unencumbered assets									15.00%
Minimum threshold of principal amount subject to evens of default									$ 25,000
Long-term debt									$ 30,000
Debt instrument, basis spread on prepayment fee									2.00%

XML

Financing Arrangements - Schedule of Credit Facility (Details) - USD ($) $ in Thousands	2 Months Ended	3 Months Ended		4 Months Ended	6 Months Ended		8 Months Ended	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2022
Debt Instrument [Line Items]
Amortization of debt issuance costs		$ 1,001	$ 812		$ 1,896	$ 1,504		$ 3,175
JPM Credit Facility
Debt Instrument [Line Items]
Stated interest expense		12,385	6,056		24,375	10,763		29,254
Amortization of debt issuance costs		532	571		1,096	1,061		2,214
Non-usage fee		189	193		360	263		617
Total interest expense		$ 13,106	$ 6,820		$ 25,831	$ 12,087		$ 32,085
Weighted average interest rate		8.30%	4.12%		8.16%	3.81%		4.99%
Average borrowings		$ 600,000	$ 598,571		$ 603,315	$ 575,083		$ 590,603
2026 Notes
Debt Instrument [Line Items]
Stated interest expense		1,406	1,422		2,812	2,828		5,600
Amortization of debt issuance costs		133	133		264	264		533
Total interest expense		$ 1,539	$ 1,555		$ 3,076	$ 3,092		$ 6,133
Weighted average interest rate		4.50%	4.50%		4.50%	4.50%		4.50%
Average borrowings		$ 125,000	$ 125,000		$ 125,000	$ 125,000		$ 125,000
UBS Facility
Debt Instrument [Line Items]
Stated interest expense		2,162	1,533		4,966	2,680		7,273
Non-usage fee		89	21		112	68		96
Total interest expense		$ 2,251	$ 1,554		$ 5,078	$ 2,748		$ 7,369
Weighted average interest rate		8.62%	4.42%		8.39%	4.14%		5.29%
Average borrowings		$ 103,297	$ 139,038		$ 120,373	$ 132,058		$ 137,322
Series A Notes
Debt Instrument [Line Items]
Stated interest expense		1,781		$ 2,399
Amortization of debt issuance costs		212		290
Total interest expense		$ 1,993		$ 2,689
Weighted average interest rate		8.73%		8.73%
Average borrowings		$ 80,712		$ 80,712
2022 More Term Loan
Debt Instrument [Line Items]
Stated interest expense	$ 410	1,061			2,073		$ 2,027
Amortization of debt issuance costs	36	51			102		140
Total interest expense	$ 446	$ 1,112			$ 2,175		$ 2,167
Weighted average interest rate	4.54%	8.40%			8.25%		5.86%
Average borrowings	$ 50	$ 50			$ 50		$ 50
2021 More Term Loan
Debt Instrument [Line Items]
Stated interest expense		394	394		784	784		1,582
Amortization of debt issuance costs		72	72		143	143		288
Total interest expense		$ 466	$ 466		$ 927	$ 927		$ 1,870
Weighted average interest rate		5.20%	5.20%		5.20%	5.20%		5.20%
Average borrowings		$ 30	$ 30		$ 30	$ 30		$ 30

XML

Fair Value of Financial Instruments - Schedule of Portfolio Investments by Level in the Fair Value Hierarchy (Details) - USD ($) $ in Thousands	Jun. 30, 2023		Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, fair value disclosure	$ 1,763,283		$ 1,729,264
Investments, at fair value:	1,788,462	[1]	1,760,030
Controlled investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, at fair value:	80,006		91,114	$ 91,425
Controlled investments | CION/EagleTree Partners, LLC
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, at fair value:	25,179		30,766
Senior secured first lien debt
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, fair value disclosure	1,468,630		1,579,512
Senior secured second lien debt
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, fair value disclosure	39,544		38,769
Collateralized securities and structured products - equity
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, fair value disclosure	1,046		1,179
Unsecured debt
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, fair value disclosure	17,301		22,643
Equity
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, fair value disclosure	135,991		76,292
Short term investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, fair value disclosure	100,771		10,869
Level 1
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, fair value disclosure	103,037		13,210
Level 1 | Senior secured first lien debt
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, fair value disclosure	0		0
Level 1 | Senior secured second lien debt
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, fair value disclosure	0		0
Level 1 | Collateralized securities and structured products - equity
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, fair value disclosure	0		0
Level 1 | Unsecured debt
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, fair value disclosure	0		0
Level 1 | Equity
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, fair value disclosure	2,266		2,341
Level 1 | Short term investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, fair value disclosure	100,771		10,869
Level 2
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, fair value disclosure	0		0
Level 2 | Senior secured first lien debt
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, fair value disclosure	0		0
Level 2 | Senior secured second lien debt
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, fair value disclosure	0		0
Level 2 | Collateralized securities and structured products - equity
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, fair value disclosure	0		0
Level 2 | Unsecured debt
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, fair value disclosure	0		0
Level 2 | Equity
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, fair value disclosure	0		0
Level 2 | Short term investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, fair value disclosure	0		0
Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, fair value disclosure	1,660,246		1,716,054
Investments, at fair value:	1,660,246		1,716,054
Level 3 | Senior secured first lien debt
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, fair value disclosure	1,468,630		1,579,512
Level 3 | Senior secured second lien debt
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, fair value disclosure	39,544		38,769
Level 3 | Collateralized securities and structured products - equity
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, fair value disclosure	1,046		1,179
Level 3 | Unsecured debt
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, fair value disclosure	17,301		22,643
Level 3 | Equity
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, fair value disclosure	133,725		73,951
Level 3 | Short term investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, fair value disclosure	$ 0		$ 0

[1] Fair value determined in good faith by the Company’s board of directors (see Note 9), including via delegation to CIM as the Company’s valuation designee (see Note 2), using significant unobservable inputs unless otherwise noted.

XML

Fair Value of Financial Instruments - Changes in Level 3 Portfolio Investments Rollforward (Details) - USD ($) $ in Thousands	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, Calculation [Roll Forward]
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Gain (Loss), Investment and Derivative, Operating, and Foreign Currency Transaction, after Tax	Gain (Loss), Investment and Derivative, Operating, and Foreign Currency Transaction, after Tax	Gain (Loss), Investment and Derivative, Operating, and Foreign Currency Transaction, after Tax	Gain (Loss), Investment and Derivative, Operating, and Foreign Currency Transaction, after Tax
Total
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 1,629,058	$ 1,706,556	$ 1,716,054	$ 1,632,922
Investments purchased	111,557	179,201	188,242	322,741
Accretion of discount	2,601	2,478	6,943	4,974
Sales and principal repayments	(87,971)	(109,553)	(200,231)	(170,585)
Ending balance	1,660,246	1,760,395	1,660,246	1,760,395
Change in net unrealized appreciation (depreciation) on investments	6,732	(21,338)	(31,031)	(31,058)
Total | Debt and Equity Securities, Realized Gain (Loss)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total gains or losses included in earnings	(18,928)	180	(23,453)	111
Total | Debt and Equity Securities, Unrealized Gain (Loss)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total gains or losses included in earnings	23,929	(18,467)	(27,309)	(29,768)
Senior Secured First Lien Debt
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	1,472,453	1,597,364	1,579,512	1,526,989
Investments purchased	77,961	175,707	118,713	317,499
Accretion of discount	2,541	2,131	6,810	4,535
Sales and principal repayments	(87,870)	(93,196)	(200,045)	(154,038)
Ending balance	1,468,630	1,660,828	1,468,630	1,660,828
Change in net unrealized appreciation (depreciation) on investments	5,280	(21,519)	(22,169)	(34,992)
Senior Secured First Lien Debt | Debt and Equity Securities, Realized Gain (Loss)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total gains or losses included in earnings	(13,163)	(34)	(17,674)	(107)
Senior Secured First Lien Debt | Debt and Equity Securities, Unrealized Gain (Loss)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total gains or losses included in earnings	16,708	(21,144)	(18,686)	(34,050)
Senior Secured Second Lien Debt
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	38,997	36,875	38,769	38,583
Investments purchased	0	1,836	0	1,836
Accretion of discount	56	344	125	432
Sales and principal repayments	(5)	(15,000)	(9)	(15,000)
Ending balance	39,544	27,086	39,544	27,086
Change in net unrealized appreciation (depreciation) on investments	496	525	659	873
Senior Secured Second Lien Debt | Debt and Equity Securities, Realized Gain (Loss)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total gains or losses included in earnings	0	10	0	14
Senior Secured Second Lien Debt | Debt and Equity Securities, Unrealized Gain (Loss)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total gains or losses included in earnings	496	3,021	659	1,221
Collateralized securities and structured products - equity
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	1,133	2,632	1,179	2,998
Investments purchased	0	0	0	0
Accretion of discount	0	0	0	0
Sales and principal repayments	(96)	(854)	(177)	(1,044)
Ending balance	1,046	1,602	1,046	1,602
Change in net unrealized appreciation (depreciation) on investments	9	(176)	44	(352)
Collateralized securities and structured products - equity | Debt and Equity Securities, Realized Gain (Loss)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total gains or losses included in earnings	0	0	0	0
Collateralized securities and structured products - equity | Debt and Equity Securities, Unrealized Gain (Loss)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total gains or losses included in earnings	9	(176)	44	(352)
Unsecured debt
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	15,517	27,280	22,643	26,616
Investments purchased	4,200	650	4,200	1,273
Accretion of discount	4	3	8	7
Sales and principal repayments	0	0	0	0
Ending balance	17,301	27,994	17,301	27,994
Change in net unrealized appreciation (depreciation) on investments	(2,420)	61	(9,550)	98
Unsecured debt | Debt and Equity Securities, Realized Gain (Loss)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total gains or losses included in earnings	0	0		0
Unsecured debt | Debt and Equity Securities, Unrealized Gain (Loss)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total gains or losses included in earnings	(2,420)	61	(9,550)	98
Equity
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	100,958	42,405	73,951	37,736
Investments purchased	29,396	1,008	65,329	2,133
Accretion of discount	0	0	0	0
Sales and principal repayments	0	(503)	0	(503)
Ending balance	133,725	42,885	133,725	42,885
Change in net unrealized appreciation (depreciation) on investments	3,367	(229)	(15)	3,315
Equity | Debt and Equity Securities, Realized Gain (Loss)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total gains or losses included in earnings	(5,765)	204	(5,779)	204
Equity | Debt and Equity Securities, Unrealized Gain (Loss)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total gains or losses included in earnings	$ 9,136	$ (229)	$ 224	$ 3,315

XML

Fair Value of Financial Instruments - Schedule of Fair Value Measurement Inputs and Valuation Techniques (Details)	Jun. 30, 2023 USD ($) $ / shares		Dec. 31, 2022 USD ($) $ / shares
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 1,788,462,000	[1]	$ 1,760,030,000
Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	1,660,246,000		1,716,054,000
Level 3 | Senior secured first lien debt | Discounted Cash Flow | Discount Rates
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 1,281,080,000		$ 1,471,816,000
Level 3 | Senior secured first lien debt | Discounted Cash Flow | Minimum | Discount Rates
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.075		0.065
Level 3 | Senior secured first lien debt | Discounted Cash Flow | Maximum | Discount Rates
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.400		0.340
Level 3 | Senior secured first lien debt | Discounted Cash Flow | Weighted Average | Discount Rates
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.138		0.147
Level 3 | Senior secured first lien debt | Broker Quotes | Broker Quotes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 110,747,000		$ 79,035,000
Level 3 | Senior secured first lien debt | Market Comparable Approach | Revenue Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	53,487,000		20,050,000
Level 3 | Senior secured first lien debt | Market Comparable Approach | EBITDA Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	19,036,000		3,552,000
Level 3 | Senior secured first lien debt | Market Comparable Approach | $ per kW
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 3,794,000		$ 4,527,000
Measurement input	129.77		131.85
Level 3 | Senior secured first lien debt | Market Comparable Approach | Minimum | Revenue Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.17		0.25
Level 3 | Senior secured first lien debt | Market Comparable Approach | Minimum | EBITDA Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	4.00		2.75
Level 3 | Senior secured first lien debt | Market Comparable Approach | Maximum | Revenue Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	1.55		1.70
Level 3 | Senior secured first lien debt | Market Comparable Approach | Maximum | EBITDA Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	9.75		4.25
Level 3 | Senior secured first lien debt | Market Comparable Approach | Weighted Average | Revenue Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	1.00		1.19
Level 3 | Senior secured first lien debt | Market Comparable Approach | Weighted Average | EBITDA Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	6.15		4.09
Level 3 | Senior secured first lien debt | Other Valuation Technique
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 486,000		$ 532,000
Level 3 | Senior secured second lien debt | Discounted Cash Flow | Discount Rates
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 39,544,000		$ 38,769,000
Level 3 | Senior secured second lien debt | Discounted Cash Flow | Minimum | Discount Rates
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.135		0.143
Level 3 | Senior secured second lien debt | Discounted Cash Flow | Maximum | Discount Rates
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.205		0.215
Level 3 | Senior secured second lien debt | Discounted Cash Flow | Weighted Average | Discount Rates
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.168		0.172
Level 3 | Collateralized securities and structured products - equity | Discounted Cash Flow | Discount Rates
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 1,046,000		$ 1,179,000
Measurement input	0.210		0.210
Level 3 | Unsecured debt | Discounted Cash Flow | Discount Rates
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 7,413,000		$ 7,327,000
Measurement input			0.177
Level 3 | Unsecured debt | Discounted Cash Flow | Maximum | Discount Rates
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.165
Level 3 | Unsecured debt | Market Comparable Approach | EBITDA Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value			$ 15,316,000
Measurement input			9.25
Level 3 | Unsecured debt | Contingent Claims Analysis | Expected Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 9,888,000
Measurement input	1.100
Level 3 | Equity | Discounted Cash Flow | Discount Rates
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value			$ 2,238,000
Measurement input			0.168
Level 3 | Equity | Broker Quotes | Broker Quotes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 742,000		$ 1,234,000
Level 3 | Equity | Market Comparable Approach | Revenue Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	31,204,000		13,038,000
Level 3 | Equity | Market Comparable Approach | EBITDA Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	80,099,000		33,441,000
Level 3 | Equity | Market Comparable Approach | $ per kW
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 21,680,000		$ 23,995,000
Measurement input | $ / shares	400		412.5
Level 3 | Equity | Market Comparable Approach | Minimum | Revenue Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.13		0.13
Level 3 | Equity | Market Comparable Approach | Minimum | EBITDA Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	4.75		2.75
Level 3 | Equity | Market Comparable Approach | Maximum | Revenue Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	6.00		5.75
Level 3 | Equity | Market Comparable Approach | Maximum | EBITDA Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	14.75		14.55
Level 3 | Equity | Market Comparable Approach | Weighted Average | Revenue Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	1.05		2.93
Level 3 | Equity | Market Comparable Approach | Weighted Average | EBITDA Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	9.74		7.02
Level 3 | Equity | Options Pricing Model | Expected Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value			$ 5,000
Level 3 | Equity | Options Pricing Model | Minimum | Expected Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input			0.800
Level 3 | Equity | Options Pricing Model | Maximum | Expected Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input			0.900
Level 3 | Equity | Options Pricing Model | Weighted Average | Expected Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input			0.873

[1] Fair value determined in good faith by the Company’s board of directors (see Note 9), including via delegation to CIM as the Company’s valuation designee (see Note 2), using significant unobservable inputs unless otherwise noted.

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General and Administrative Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
General and Administrative Expense [Abstract]
Professional fees	$ 645	$ 519	$ 1,171	$ 1,152	$ 1,778
Transfer agent expense	279	303	547	594	1,124
Dues and subscriptions	44	80	473	615	791
Valuation expense	252	212	425	391	821
Director fees and expenses	179	161	348	315	632
Insurance expense	169	254	336	505	833
Accounting and administrative costs	158	145	324	302	524
Printing and marketing expense	269	28	274	33	708
Other expenses	79	10	131	27	67
General and administrative	$ 2,074	$ 1,712	$ 4,029	$ 3,934	$ 7,278

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Commitments and Contingencies - Schedule of Unfunded Commitments (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Guarantor Obligations [Line Items]
Unfunded commitments amount	$ 56,378	$ 71,420
Investment, Identifier [Axis]: American Health Staffing Group, Inc.
Guarantor Obligations [Line Items]
Unfunded commitments amount	3,333	3,333
Investment, Identifier [Axis]: American Teleconferencing Services, Ltd.
Guarantor Obligations [Line Items]
Unfunded commitments amount	235	235
Investment, Identifier [Axis]: Anthem Sports & Entertainment Inc.
Guarantor Obligations [Line Items]
Unfunded commitments amount	167	167
Investment, Identifier [Axis]: Archer Systems, LLC
Guarantor Obligations [Line Items]
Unfunded commitments amount	1,905	1,905
Investment, Identifier [Axis]: BDS Solutions Intermediateco, LLC
Guarantor Obligations [Line Items]
Unfunded commitments amount	1,046	1,998
Investment, Identifier [Axis]: Bradshaw International Parent Corp.
Guarantor Obligations [Line Items]
Unfunded commitments amount	1,844	1,844
Investment, Identifier [Axis]: Cennox, Inc.
Guarantor Obligations [Line Items]
Unfunded commitments amount	7,193	7,567
Investment, Identifier [Axis]: Coyote Buyer, LLC
Guarantor Obligations [Line Items]
Unfunded commitments amount	1,500	2,500
Investment, Identifier [Axis]: Critical Nurse Staffing, LLC
Guarantor Obligations [Line Items]
Unfunded commitments amount	5,439	5,599
Investment, Identifier [Axis]: Dermcare Management, LLC
Guarantor Obligations [Line Items]
Unfunded commitments amount	1,683	1,862
Investment, Identifier [Axis]: Flatworld Intermediate Corp.
Guarantor Obligations [Line Items]
Unfunded commitments amount	5,865	5,865
Investment, Identifier [Axis]: H.W. Lochner, Inc.
Guarantor Obligations [Line Items]
Unfunded commitments amount	225	225
Investment, Identifier [Axis]: HW Acquisition, LLC
Guarantor Obligations [Line Items]
Unfunded commitments amount	2,200	2,200
Investment, Identifier [Axis]: Homer City Holdings LLC
Guarantor Obligations [Line Items]
Unfunded commitments amount	0	3,000
Investment, Identifier [Axis]: Instant Web, LLC
Guarantor Obligations [Line Items]
Unfunded commitments amount	3,574	5,628
Investment, Identifier [Axis]: Invincible Boat Company LLC
Guarantor Obligations [Line Items]
Unfunded commitments amount	319	559
Investment, Identifier [Axis]: Ironhorse Purchaser, LLC
Guarantor Obligations [Line Items]
Unfunded commitments amount	299	2,469
Investment, Identifier [Axis]: MacNeill Pride Group Corp.
Guarantor Obligations [Line Items]
Unfunded commitments amount	2,017	2,017
Investment, Identifier [Axis]: Mimeo.com, Inc.
Guarantor Obligations [Line Items]
Unfunded commitments amount	2,500	3,000
Investment, Identifier [Axis]: Moss Holding Company
Guarantor Obligations [Line Items]
Unfunded commitments amount	2,232	2,232
Investment, Identifier [Axis]: NWN Parent Holdings LLC
Guarantor Obligations [Line Items]
Unfunded commitments amount	1,200	90
Investment, Identifier [Axis]: OpCo Borrower, LLC
Guarantor Obligations [Line Items]
Unfunded commitments amount	1,042	833
Investment, Identifier [Axis]: RA Outdoors, LLC
Guarantor Obligations [Line Items]
Unfunded commitments amount	1,049	1,049
Investment, Identifier [Axis]: Rogers Mechanical Contractors, LLC
Guarantor Obligations [Line Items]
Unfunded commitments amount	2,404	3,365
Investment, Identifier [Axis]: RumbleOn, Inc.
Guarantor Obligations [Line Items]
Unfunded commitments amount	0	1,775
Investment, Identifier [Axis]: STATinMED, LLC
Guarantor Obligations [Line Items]
Unfunded commitments amount	0	156
Investment, Identifier [Axis]: Service Compression, LLC
Guarantor Obligations [Line Items]
Unfunded commitments amount	907	4,186
Investment, Identifier [Axis]: Sleep Opco, LLC
Guarantor Obligations [Line Items]
Unfunded commitments amount	1,200	1,750
Investment, Identifier [Axis]: Thrill Holdings LLC
Guarantor Obligations [Line Items]
Unfunded commitments amount	5,000	3,261
Investment, Identifier [Axis]: WorkGenius, Inc.
Guarantor Obligations [Line Items]
Unfunded commitments amount	$ 0	$ 750

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Commitments and Contingencies - Narrative (Details) - Unfunded Commitments - USD ($) $ in Thousands	Aug. 02, 2023	Jun. 30, 2023	Dec. 31, 2022
Other Commitments [Line Items]
Unfunded commitments amount		$ 56,378	$ 71,420
Subsequent Event
Other Commitments [Line Items]
Unfunded commitments amount	$ 54,475

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Fee Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Fee Income [Abstract]
Amendment fees	$ 622	$ 575	$ 3,346	$ 970	$ 2,633
Capital structuring and other fees	532	1,992	532	3,014	4,446
Conversion fees	477	0	477	0	2,365
Commitment fees	0	0	309	0	0
Administrative agent fees	0	0	30	25	100
Fee income	$ 1,631	$ 2,567	$ 4,694	$ 4,009	$ 9,544

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Financial Highlights (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended			6 Months Ended			12 Months Ended
	Jun. 30, 2023		Jun. 30, 2022	Jun. 30, 2023		Jun. 30, 2022	Dec. 31, 2022	Sep. 21, 2021	Sep. 20, 2021
Investment Company, Financial Highlights [Roll Forward]
Net asset value, beginning balance (in dollars per share)				$ 15.98		$ 16.34	$ 16.34
Net investment income (in dollars per share)	$ 0.43		$ 0.34	0.97		0.68	1.56
Net realized loss and net change in unrealized depreciation on investments and loss on foreign currency (in dollars per share)				(1.02)		(0.57)	(0.68)
Net (decrease) increase in net assets resulting from operations (in dollars per share)				(0.05)		0.11	0.88
Shareholder distributions:
Distributions declared to stockholders from net investment income (in dollars per share)				(0.68)		(0.56)	(1.44)
Capital share transactions:
Repurchases of common stock below net asset value (in dollars per share)				0.06		0	0.20
Net increase in net assets resulting from capital share transactions (in dollars per share)				0.06		0	0.20
Net asset value, ending balance (in dollars per share)	$ 15.31		$ 15.89	$ 15.31		$ 15.89	$ 15.98
Shares of common stock outstanding at end of period (in shares)	54,632,827		56,958,440	54,632,827		56,958,440	55,299,484	56,958,440	113,916,869
Total investment return-net asset value				2.29%		1.87%	10.44%
Total investment return-market value				13.66%		(30.29%)	(14.87%)
Net assets at beginning of period				$ 883,634		$ 930,512	$ 930,512
Net assets at end of period	$ 836,364	[1]	$ 905,238	836,364	[1]	905,238	883,634
Average net assets	$ 858,277		$ 926,144	$ 858,277		$ 926,144	$ 917,781
Ratio/Supplemental data:
Ratio of net investment income to average net assets				6.21%		4.19%	9.61%
Ratio of net operating expenses to average net assets				8.18%		5.02%	11.63%
Portfolio turnover rate				5.48%		9.96%	26.81%
Total amount of senior securities outstanding				$ 985,712		$ 947,500	$ 957,500
Asset coverage ratio	185.00%		196.00%	185.00%		196.00%	192.00%
Repurchase of shares, per share (in dollars per share)				$ 0.01		$ 0.01	$ 0.01
Number of shares (in shares)	1			1

[1] Fair value determined in good faith by the Company’s board of directors (see Note 9), including via delegation to CIM as the Company’s valuation designee (see Note 2), using significant unobservable inputs unless otherwise noted.