Commitments and Contingencies

6 Months Ended

Jun. 30, 2023

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 10. Commitments and Contingencies

Commitments

The Company’s investment portfolio may contain debt investments that are in the form of lines of credit and unfunded delayed draw commitments, which require the Company to provide funding when requested by portfolio companies in accordance with the terms of the underlying loan agreements.

As of June 30, 2023, the Company had $276.0 million of unfunded commitments under loan and financing agreements as follows:

Portfolio Company & Investment	Expiration Date(1)		Unfunded Commitments(2)
9 Story Media Group Inc. - Revolver	4/30/2026	$		508
A&R Logistics, Inc. - Revolver	5/5/2025			5,851
Abracon Group Holding, LLC. - Delayed Draw	7/6/2028			3,552
Abracon Group Holding, LLC. - Revolver	7/6/2028			2,018
Access - Delayed Draw	6/4/2029			1,507
Allworth Financial Group, L.P. - Revolver	12/23/2026			2,440
Amspec Services, Inc. - Revolver	7/2/2024			2,756
Apollo Intelligence - Delayed Draw	6/1/2028			9,611
Apollo Intelligence - Revolver	6/1/2028			6,007
Applitools - Revolver	5/25/2028			3,430
Appriss Holdings, Inc. - Revolver	5/6/2027			753
Aramsco, Inc. - Revolver	8/28/2024			3,387
Arctic Glacier U.S.A., Inc. - Revolver	5/24/2028			829
ASP-r-pac Acquisition Co LLC - Revolver	12/29/2027			3,253
Avalon Acquiror, Inc. - Revolver	3/10/2028			5,042
Caribou Bidco Limited - Delayed Draw	1/29/2029			22
CB Nike IntermediateCo Ltd - Revolver	10/31/2025			44
Concert Golf Partners Holdco LLC - Delayed Draw	4/2/2029			1,884
Concert Golf Partners Holdco LLC - Revolver	3/31/2028			2,492
Congress Buyer DD T/L - Delayed Draw	6/30/2029			1,654
Congress Buyer R/C - Revolver	6/30/2029			1,102
CPS Group Holdings, Inc. - Revolver	3/3/2025			3,157
Darcy Partners - Revolver	6/1/2028			349
Datix Bidco Limited - Revolver	10/28/2024			2
Direct Travel, Inc. - Delayed Draw	10/2/2025			2,175
Efficient Collaborative Retail Marketing Company, LLC - Revolver	6/30/2024			992
Element Buyer, Inc. - Revolver	7/19/2024			4,250
Eleven Software - Revolver	9/25/2026			397
Gills Point S - Delayed Draw	5/15/2029			1,262
Gills Point S - Revolver	5/15/2029			518
Grammer Purchaser, Inc. - Revolver	9/30/2024			234
GSP Holdings, LLC - Revolver	11/6/2025			2,267
Gulf Winds International - Revolver	12/16/2028			5,292
ImageTrend - Revolver	1/31/2029			4,000
Intoxalock - Revolver	11/1/2028			3,430
JHCC Holdings, LLC - Revolver	9/9/2025			2,833
Kellstrom Commercial Aerospace, Inc. - Revolver	7/1/2025			3,196
Mach Acquisition R/C - Revolver	10/18/2026			2,511
Margaux Acquisition Inc. - Revolver	12/19/2025			735

Portfolio Company & Investment	Expiration Date(1)		Unfunded Commitments(2)
Margaux UK Finance Limited - Revolver	12/19/2024			98
Meriplex Communications, Ltd. - Delayed Draw	7/17/2028			7,030
Meriplex Communications, Ltd. - Revolver	7/17/2028			2,824
Morrow Sodali - Delayed Draw	4/25/2028			269
Morrow Sodali - Revolver	4/25/2028			1,365
MRHT - Delayed Draw	2/1/2029			5,529
MRI Software LLC - Revolver	2/10/2026			1,782
MZR Buyer, LLC - Revolver	12/21/2026			3,473
NearMap - Revolver	12/9/2029			4,652
New Look (Delaware) Corporation - Delayed Draw	5/26/2028			1,938
New Look Vision Group - Revolver	5/26/2026			213
OGH Bidco Limited - Delayed Draw	6/29/2029			6,257
Omni Intermediate - Revolver	11/30/2026			732
Parcel2Go - Delayed Draw	7/15/2028			35
Premier Imaging, LLC - Delayed Draw	1/2/2025			4,816
Pyramid Global Hospitality - Revolver	1/19/2027			3,482
Reconomy - Delayed Draw	6/24/2029			8,357
Refine Intermediate, Inc. - Revolver	9/3/2026			5,340
Revalize, Inc. - Revolver	4/15/2027			1,340
RoadOne - Delayed Draw	12/29/2028			3,931
RoadOne - Revolver	12/29/2028			4,119
RoC Opco LLC - Revolver	2/25/2025			10,241
Saturn Purchaser Corp. - Revolver	7/22/2029			4,883
Service Master - Revolver	8/16/2027			9,628
Simplicity - Delayed Draw	12/2/2026			5,470
Simplicity - Revolver	12/2/2026			1,454
Smartronix - Revolver	11/23/2027			6,321
Solaray, LLC - Delayed Draw	9/9/2023			37
Solaray, LLC - Revolver	9/9/2023			5,383
Spring Finco BV - Delayed Draw	7/15/2029			4,060
Sunmed Group Holdings, LLC - Revolver	6/16/2027			1,229
Superna Inc. - Delayed Draw	3/6/2028			2,631
Superna Inc. - Revolver	3/6/2028			2,631
SureWerx - Delayed Draw	12/28/2029			2,013
SureWerx - Revolver	12/29/2028			885
Swoogo LLC - Revolver	12/9/2026			1,243
Taoglas - Delayed Draw	2/28/2029			3,636
Taoglas - Revolver	2/28/2029			881
TEI Holdings Inc. - Revolver	12/23/2025			4,226
Titan Cloud Software, Inc - Delayed Draw	9/7/2029			10,572
Titan Cloud Software, Inc - Revolver	9/7/2028			5,714
TLC Purchaser, Inc. - Revolver	10/13/2025			4,113
V Global Holdings LLC - Revolver	12/22/2025			7,293
Ventiv Holdco, Inc. - Revolver	9/3/2025			1,686
Walker Edison - Delayed Draw	3/31/2027			635
WCI Gigawatt Purchaser - Revolver	11/19/2027			1,931
Whitcraft-Paradigm - Revolver	2/28/2029			2,194
World Insurance - Revolver	4/1/2026			931
WSP - Revolver	4/27/2027			449
WU Holdco, Inc. - Revolver	3/26/2025			2,367
YLG Holdings, Inc. - Revolver	10/31/2025			7,947
Total		$		276,008

(1)Commitments are generally subject to borrowers meeting certain criteria such as compliance with covenants and certain operational metrics. These amounts may remain outstanding until the commitment period of an applicable loan expires, which may be shorter than its maturity.

(2)Unfunded commitments denominated in currencies other than U.S. dollars have been converted to U.S. dollars using the applicable foreign currency exchange rate as of June 30, 2023.

As of December 31, 2022, the Company had $303.7 million of unfunded commitments under loan and financing agreements as follows:

Portfolio Company & Investment	Expiration Date (1)	Unfunded Commitments (2)
9 Story Media Group Inc. - Revolver	4/30/2026	$	497
A&R Logistics, Inc. - Revolver	5/5/2025		5,735
Abracon Group Holding, LLC. - Delayed Draw	7/6/2028		5,046
Abracon Group Holding, LLC. - Revolver	7/6/2028		2,018
Access - First Lien Senior Secured Loan	6/4/2029		2,642
Allworth Financial Group, L.P. - Delayed Draw	12/23/2026		7
Allworth Financial Group, L.P. - Revolver	12/23/2026		2,440
Amspec Services, Inc. - Revolver	7/2/2024		4,463
Ansira Holdings New DD T/L(2) - First Lien Senior Secured Loan	12/20/2024		1,508
Ansira Holdings, Inc. - Revolver	12/20/2024		1,700
Apollo Intelligence - Delayed Draw	6/1/2028		9,611
Apollo Intelligence - Revolver	6/1/2028		7,208
Applitools - Revolver	5/25/2028		3,430
Appriss Holdings, Inc. - Revolver	5/6/2027		753
Aramsco, Inc. - Revolver	8/28/2024		2,709
ASP-r-pac Acquisition Co LLC - Revolver	12/29/2027		3,253
Avalon Acquiror, Inc. - Revolver	3/10/2028		7,353
Batteries Plus Holding Corporation - Revolver	6/30/2023		3,334
Caribou Bidco Limited - First Lien Senior Secured Loan	1/29/2029		21
CB Nike IntermediateCo Ltd - Revolver	10/31/2025		44
Cloud Technology Solutions (CTS) - Revolver	7/3/2029		1,705
Concert Golf Partners Holdco LLC - Delayed Draw	4/2/2029		2,340
Concert Golf Partners Holdco LLC - Revolver	3/31/2028		2,492
CPS Group Holdings, Inc. - Revolver	3/3/2025		4,933
Darcy Partners R/C - First Lien Senior Secured Loan	6/1/2028		349
DC Blox Inc. - First Lien Senior Secured Loan	3/22/2026		1,915
Direct Travel, Inc. - Delayed Draw	10/2/2025		2,625
Efficient Collaborative Retail Marketing Company, LLC - Revolver	6/30/2024		2,267
Element Buyer, Inc. - Revolver	7/19/2024		4,250
Eleven Software - Revolver	9/25/2026		1,339
Grammer Purchaser, Inc. - Revolver	9/30/2024		234
Great Expressions Dental Center PC - Revolver	9/28/2023		127
Gulf Winds International - Revolver	12/16/2028		5,292
Intoxalock - Revolver	11/1/2028		3,087
JHCC Holdings, LLC - Delayed Draw	9/9/2025		31
JHCC Holdings, LLC - Revolver	9/9/2025		1,088
Kellstrom Commercial Aerospace, Inc. - Revolver	7/1/2025		3,092
Mach Acquisition R/C - Revolver	10/18/2026		6,026

Portfolio Company & Investment	Expiration Date (1)	Unfunded Commitments (2)
Margaux Acquisition Inc. - Revolver	12/19/2025		1,915
Margaux UK Finance Limited - Revolver	12/19/2024		603
masLabor - Revolver	7/1/2027		345
Meriplex Communications, Ltd. - Delayed Draw	7/17/2028		8,931
Meriplex Communications, Ltd. - Revolver	7/17/2028		2,542
Morrow Sodali - Delayed Draw	4/25/2028		1,345
Morrow Sodali - Revolver	4/25/2028		1,312
MRH Trowe Beteiligungsgesellschaft MBH - First Lien Senior Secured Loan	7/26/2028		7,888
MRI Software LLC - Revolver	2/10/2026		1,782
MZR Buyer, LLC - Revolver	12/21/2026		5,210
NearMap - Revolver	12/9/2029		4,652
New Look (Delaware) Corporation - Delayed Draw	5/26/2028		1,938
New Look Vision Group - Delayed Draw	5/26/2028		62
New Look Vision Group - Revolver	5/26/2026		571
OGH Bidco Limited - Delayed Draw	6/29/2029		7,440
Omni Intermediate - Delayed Draw	11/23/2026		504
Omni Intermediate R/C - First Lien Senior Secured Loan	11/30/2026		732
Paisley Bidco Limited - Revolver	11/26/2028		1,460
Parcel2Go - First Lien Senior Secured Loan	7/15/2028		33
Premier Imaging, LLC - Delayed Draw	1/2/2025		4,816
Reconomy - First Lien Senior Secured Loan	6/24/2029		7,949
Reconomy - First Lien Senior Secured Loan	6/24/2029		7,949
Refine Intermediate, Inc. - Revolver	9/3/2026		5,340
Revalize, Inc. - Revolver	4/15/2027		1,340
RoadOne - Delayed Draw	12/29/2028		5,666
RoadOne - Revolver	12/29/2028		3,388
RoC Opco LLC - Revolver	2/25/2025		7,510
Saltoun - Delayed Draw	4/11/2028		14,358
Saturn Purchaser Corp. - Revolver	7/22/2029		4,883
Service Master - Revolver	8/16/2027		7,470
Smartronix - Revolver	11/23/2027		6,321
Solaray, LLC - Revolver	9/9/2023		6,800
Spring Finco DD T/L - First Lien Senior Secured Loan	7/15/2029		1,259
SunMed Group Holdings, LLC - Revolver	6/16/2027		639
Superna Inc. - Delayed Draw	3/6/2028		2,631
Superna Inc. - Revolver	3/6/2028		2,631
SureWerx - Delayed Draw	12/28/2029		2,013
SureWerx - Revolver	12/28/2028		939
Swoogo LLC - Revolver	12/9/2026		1,243
TEI Holdings Inc. - Revolver	12/23/2025		4,221
Titan Cloud Software, Inc - Delayed Draw	9/7/2029		11,429
Titan Cloud Software, Inc - Revolver	9/7/2028		5,714
TGI Sport Bidco Pty Ltd - Delayed Draw	4/30/2026		1,315
TLC Purchaser, Inc. - Revolver	10/13/2025		1,828
V Global Holdings LLC - Revolver	12/22/2025		9,690
Ventiv Holdco, Inc. - Revolver	9/3/2025		1,704
WCI Gigawatt Purchaser - Revolver	11/19/2027		2,253
Whitcraft LLC - Revolver	4/3/2023		362
World Insurance - Revolver	4/1/2026		326
WSP Initial Term Loan - Delayed Draw	4/27/2027		1,797
WSP Revolving Loan - Revolver	4/27/2027		402
WU Holdco, Inc. - Revolver	3/26/2025		2,705
YLG Holdings, Inc. - Revolver	10/31/2025		8,545
Total		$	303,665

(1)Commitments are generally subject to borrowers meeting certain criteria such as compliance with covenants and certain operational metrics. These amounts may remain outstanding until the commitment period of an applicable loan expires, which may be shorter than its maturity.

(2)Unfunded commitments denominated in currencies other than U.S. dollars have been converted to U.S. dollars using the applicable foreign currency exchange rate as of December 31, 2022.

Contingencies

In the normal course of business, the Company may enter into certain contracts that provide a variety of indemnities. The Company’s maximum exposure under these indemnities is unknown as it would involve future claims that may be made against the Company. Currently, the Company is not aware of any such claims and no such claims are expected to occur. As such, the Company does not consider it necessary to record a liability in this regard.