Investments (Tables)

3 Months Ended

Mar. 31, 2023

Schedule Of Investments [Abstract]

Schedule of Investments

Investments at fair value consisted of the following (in thousands):

	As of March 31, 2023							As of December 31, 2022
Investment Type	Cost		Fair Value		Unrealized Appreciation/ (Depreciation)			Cost		Fair Value		Unrealized Appreciation/ (Depreciation)
Senior Secured First Lien	$	460,037	$	445,475	$	(14,562	)	$	312,345	$	301,001	$	(11,344	)
Unitranche First Lien		955,484		933,801		(21,683	)		842,867		824,107		(18,760	)
Unitranche First Lien - Last Out		15,309		13,946		(1,363	)		14,879		13,827		(1,052	)
Senior Secured Second Lien		67,392		62,300		(5,092	)		67,001		60,877		(6,124	)
Unsecured Debt		5,368		4,926		(442	)		4,984		4,533		(451	)
Equity & Other		39,007		49,235		10,228			35,993		44,851		8,858
LLC/LP Equity Interests		60,991		56,362		(4,629	)		13,387		13,760		373
Total investments	$	1,603,588	$	1,566,045	$	(37,543	)	$	1,291,456	$	1,262,956	$	(28,500	)

The industry composition of investments at fair value is as follows (in thousands):

Industry	Fair Value as of March 31, 2023		Percentage of Fair Value			Fair Value as of December 31, 2022		Percentage of Fair Value
Health Care Equipment & Services	$	440,881		28.1	%	$	361,940		28.7	%
Software & Services		290,688		18.6			268,305		21.3
Commercial & Professional Services		216,793		13.8			201,213		15.9
Consumer Services		147,438		9.4			118,898		9.4
Diversified Financials		93,185		6.0			28,975		2.3
Insurance		75,248		4.8			58,032		4.6
Pharmaceuticals, Biotechnology & Life Sciences		63,716		4.1			55,020		4.4
Retailing		60,162		3.8			54,832		4.3
Capital Goods		50,402		3.2			40,838		3.2
Automobiles & Components		37,391		2.4			38,004		3.0
Consumer Durables & Apparel		19,244		1.2			19,244		1.5
Materials		13,218		0.8			-		-
Energy		12,187		0.8			2,185		0.2
Technology, Hardware & Equipment		10,422		0.7			-		-
Semiconductor and Semiconductor Equipment		9,314		0.6			-		-
Food, Beverage & Tobacco		8,338		0.5			8,491		0.7
Household & Personal Products		7,116		0.5			-		-
Transportation		4,414		0.3			1,254		0.1
Telecommunication Services		4,028		0.3			4,061		0.3
Food & Staples Retailing		1,860		0.1			1,664		0.1
Total investments	$	1,566,045		100.0	%	$	1,262,956		100.0	%

The geographic composition of investments at fair value is as follows (in thousands):

Geographic Region	Fair Value as of March 31, 2023		Percentage of Fair Value			Fair Value as of December 31, 2022		Percentage of Fair Value
United States	$	1,401,895		89.6	%	$	1,111,350		88.1	%
United Kingdom		61,765		3.9			58,591		4.6
Canada		37,029		2.4			31,890		2.5
Australia		19,441		1.2			19,490		1.5
Netherlands		17,185		1.1			15,352		1.2
Belgium		14,568		0.9			14,166		1.1
Sweden		14,162		0.9			12,117		1.0
Total investments	$	1,566,045		100.0	%	$	1,262,956		100.0	%