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Financial Highlights (Tables)
 12 Months Ended
Dec. 31, 2024
Investment Company, Financial Highlights [Abstract]  
Summary of Financial Highlights of the Fund

Below is the schedule of financial highlights of the Fund for the years ended December 31, 2024, December 31, 2023, December 31, 2022, December 31, 2021 and December 31, 2020:

 

Per Share Data:(1)

 

For the year
ended
December 31,
2024

 

 

For the year
ended
December 31,
2023

 

 

For the year
ended
December 31,
2022

 

 

For the year
ended
December 31,
2021

 

 

For the year
ended
December 31,
2020

 

Net asset value, beginning of period

 

$

9.27

 

 

$

9.10

 

 

$

9.80

 

 

$

9.35

 

 

$

9.88

 

Net investment income (loss)

 

 

0.90

 

 

 

0.91

 

 

 

0.81

 

 

 

0.66

 

 

 

0.66

 

Net realized and unrealized gains
   (losses) on investments

 

 

0.24

 

 

 

0.03

 

 

 

(0.53

)

 

 

0.43

 

 

 

(0.51

)

Net increase (decrease) in net assets
   resulting from operations

 

$

1.14

 

 

 

0.94

 

 

 

0.28

 

 

 

1.09

 

 

 

0.15

 

Distributions to stockholders

 

 

(0.88

)

 

 

(0.77

)

 

 

(0.98

)

 

 

(0.64

)

 

 

(0.68

)

Net asset value, end of period

 

$

9.53

 

 

$

9.27

 

 

$

9.10

 

 

$

9.80

 

 

$

9.35

 

Shares outstanding, end of period

 

 

63,702,963

 

 

 

54,364,707

 

 

 

50,228,088

 

 

 

35,343,949

 

 

 

23,775,222

 

Total return at net asset value before
   incentive fees(3)

 

 

15.02

%

 

 

13.16

%

 

 

4.12

%

 

 

13.53

%

 

 

2.56

%

Total return at net asset value after
   incentive fees(3)

 

 

12.71

%

 

 

10.63

%

 

 

2.84

%

 

 

11.81

%

 

 

2.04

%

Ratio/Supplemental Data(2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net assets, end of period

 

$

606,989,131

 

 

$

504,145,198

 

 

$

456,844,107

 

 

$

346,259,919

 

 

$

222,359,632

 

Ratio of total expenses to weighted
   average net assets

 

 

21.44

%

 

 

21.04

%

 

 

14.42

%

 

 

13.20

%

 

 

12.30

%

Ratio of net expenses to weighted
   average net assets(4)

 

 

21.44

%

 

 

21.04

%

 

 

14.27

%

 

 

12.59

%

 

 

11.25

%

Ratio of net investment income (loss)
   before waivers to weighted average
   net assets

 

 

9.52

%

 

 

9.81

%

 

 

8.33

%

 

 

6.34

%

 

 

5.89

%

Ratio of net investment income (loss)
   after waivers to weighted average
   net assets(4)

 

 

9.52

%

 

 

9.81

%

 

 

8.48

%

 

 

6.95

%

 

 

6.93

%

Ratio of interest and credit facility
   expenses to weighted average net
   assets

 

 

14.29

%

 

 

13.80

%

 

 

8.02

%

 

 

5.15

%

 

 

4.86

%

Ratio of incentive fees to weighted
   average net assets(5)

 

 

2.38

%

 

 

2.45

%

 

 

1.32

%

 

 

1.82

%

 

 

1.01

%

Portfolio turnover rate

 

 

15.44

%

 

 

13.08

%

 

 

20.55

%

 

 

27.93

%

 

 

23.87

%

Asset coverage ratio(6)

 

 

158

%

 

 

159

%

 

 

165

%

 

 

157

%

 

 

162

%

 

(1)
The per share data was derived by using the weighted average shares outstanding during the applicable period except for distributions recorded which reflects the actual amount per share of the applicable period.
(2)
Ratios calculated with Net Assets excluding the Non-Controlling Interest.
(3)
Total return based on NAV is calculated as the change in NAV per share during the respective periods, assuming dividends and distributions, if any, are reinvested in accordance with the Fund’s dividend reinvestment plan.
(4)
For the years ended December 31, 2024 and December 31, 2023, there were no waivers for collateral management fees, management fees, or incentive fees. For the years ended December 31, 2022, December 31, 2021 and December 31, 2020, the Adviser voluntarily waived a portion of their collateral management fees, management fees, or incentive fees. Additionally, for the years ended December 31, 2022, December 31, 2021 and December 31, 2020, the Adviser received reimbursement payments from the Fund and/or provided expense support to the Fund as per the Expense Support and Conditional Reimbursement Agreement. The ratios include the effects of the voluntary waived expenses of 0.00%, 0.00%, 0.21%, 1.12% and 2.37% for the years ended December 31, 2024, December 31, 2023, December 31, 2022, December 31, 2021 and December 31, 2020, respectively.
(5)
Ratio of incentive fees to weighted average net assets calculated before the voluntary waiver of incentive fees by the Adviser.
(6)
Asset coverage ratio is equal to (i) the sum of (A) net assets at end of period and (B) debt outstanding at end of period, divided by (ii) total debt outstanding at the end of the period.