XML 45 R32.htm IDEA: XBRL DOCUMENT v3.22.4
Affiliates and Controlled Investments (Tables)
 12 Months Ended
Dec. 31, 2022
Investments In And Advances To Affiliates [Abstract]  
Schedule of Fair Value with Transactions in Affiliated investments and controlled investments

Fair value as of December 31, 2022 along with transactions during the year then ended in these affiliated investments and controlled investments was as follows:

 

 

For the Year Ended December 31, 2022

 

Issue(1)

 

Fair value at December 31, 2021

 

 

Gross Additions(2)

 

 

Gross Reductions(3)

 

 

Net Realized
Gain (Loss)

 

 

Change in Unrealized
Appreciation (Depreciation)

 

 

Fair value at December 31, 2022

 

 

Interest
Income(4)

 

 

Fee
Income

 

 

Dividend
Income

 

Non-Controlled, Affiliated Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Avanti Communications Group PLC

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1.125 Lien, Secured Loan

 

$

3,622

 

 

$

142

 

 

$

4,552

 

 

$

-

 

 

$

788

 

 

$

-

 

 

$

45

 

 

$

-

 

 

$

-

 

1.25 Lien, Secured Loan

 

 

649

 

 

 

41

 

 

 

1,339

 

 

 

-

 

 

 

649

 

 

 

-

 

 

 

13

 

 

 

-

 

 

 

-

 

1.5 Lien, Secured Loan

 

 

3,866

 

 

 

-

 

 

 

-

 

 

 

(10,754

)

 

 

6,888

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

2nd Lien, Secured Bond

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(49,370

)

 

 

49,370

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Common Equity (0% of class)

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(50,660

)

 

 

50,660

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

8,137

 

 

 

183

 

 

 

5,891

 

 

 

(110,784

)

 

 

108,355

 

 

 

-

 

 

 

58

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PFS Holdings Corp.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1st Lien, Secured Loan

 

 

922

 

 

 

-

 

 

 

10

 

 

 

-

 

 

 

(16

)

 

 

896

 

 

 

97

 

 

 

-

 

 

 

-

 

Common Equity (5% of class)

 

 

1,802

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(1,394

)

 

 

408

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

2,724

 

 

 

-

 

 

 

10

 

 

 

-

 

 

 

(1,410

)

 

 

1,304

 

 

 

97

 

 

 

-

 

 

 

-

 

Totals

 

$

10,861

 

 

$

183

 

 

$

5,901

 

 

$

(110,784

)

 

$

106,945

 

 

$

1,304

 

 

$

155

 

 

$

-

 

 

$

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Controlled Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Great Elm Healthcare Financing, LLC

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Subordinated Note

 

 

-

 

 

 

4,375

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

4,375

 

 

 

65

 

 

 

-

 

 

 

-

 

Equity (88% of class)

 

 

-

 

 

 

4,375

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

4,375

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

-

 

 

 

8,750

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

8,750

 

 

 

65

 

 

 

-

 

 

 

-

 

Lenders' Funding, LLC

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Subordinated Note

 

 

10,000

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

10,000

 

 

 

907

 

 

 

-

 

 

 

-

 

Revolver

 

 

1,933

 

 

 

4,356

 

 

 

4,734

 

 

 

-

 

 

 

-

 

 

 

1,555

 

 

 

124

 

 

 

-

 

 

 

-

 

Equity (63% of class)

 

 

7,309

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(5,104

)

 

 

2,205

 

 

 

-

 

 

 

-

 

 

 

459

 

 

 

 

19,242

 

 

 

4,356

 

 

 

4,734

 

 

 

-

 

 

 

(5,104

)

 

 

13,760

 

 

 

1,031

 

 

 

-

 

 

 

459

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Prestige Capital Finance, LLC

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Subordinated Note

 

 

6,000

 

 

 

2,000

 

 

 

5,000

 

 

 

-

 

 

 

-

 

 

 

3,000

 

 

 

266

 

 

 

-

 

 

 

-

 

Equity (80% of class)

 

 

11,843

 

 

 

320

 

 

 

-

 

 

 

-

 

 

 

(525

)

 

 

11,638

 

 

 

-

 

 

 

-

 

 

 

2,080

 

 

 

 

17,843

 

 

 

2,320

 

 

 

5,000

 

 

 

-

 

 

 

(525

)

 

 

14,638

 

 

 

266

 

 

 

-

 

 

 

2,080

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sterling Commercial Credit, LLC

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Subordinated Note

 

 

-

 

 

 

8,500

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

8,500

 

 

 

622

 

 

 

-

 

 

 

-

 

Equity (80% of class)

 

 

-

 

 

 

7,843

 

 

 

-

 

 

 

-

 

 

 

(1,581

)

 

 

6,262

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

-

 

 

 

16,343

 

 

 

-

 

 

 

-

 

 

 

(1,581

)

 

 

14,762

 

 

 

622

 

 

 

-

 

 

 

-

 

Totals

 

$

37,085

 

 

$

31,769

 

 

$

9,734

 

 

$

-

 

 

$

(7,210

)

 

$

51,910

 

 

$

1,984

 

 

$

-

 

 

$

2,539

 
(1)
Non-unitized equity investments are disclosed with percentage ownership in lieu of quantity.
(2)
Gross additions include increases resulting from new or additional portfolio investments, capitalized PIK income, accretion of discounts and the exchange of one or more existing securities for one or more new securities.
(3)
Gross reductions include decreases resulting from principal collections related to investment repayments or sales and the exchange of one or more existing securities for one or more new securities.
(4)
Income amounts include accrued PIK income.

Fair value as of December 31, 2021 along with transactions during the year then ended in these affiliated investments and controlled investments was as follows:

 

 

For the Year Ended December 31, 2021

 

Issue(1)

 

Fair value at December 31, 2020

 

 

Gross Additions(2)

 

 

Gross Reductions(3)

 

 

Net Realized
Gain (Loss)

 

 

Change in Unrealized
Appreciation (Depreciation)

 

 

Fair value at December 31, 2021

 

 

Interest
Income(4)

 

 

Fee
Income

 

 

Dividend
Income

 

Non-Controlled, Affiliated Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Avanti Communications Group PLC

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1.125 Lien, Secured Loan

 

$

-

 

 

$

4,410

 

 

$

-

 

 

$

-

 

 

$

(788

)

 

$

3,622

 

 

$

461

 

 

$

282

 

 

$

-

 

1.25 Lien, Secured Loan

 

 

1,148

 

 

 

150

 

 

 

-

 

 

 

-

 

 

 

(649

)

 

 

649

 

 

 

154

 

 

 

-

 

 

 

-

 

1.5 Lien, Secured Loan

 

 

9,512

 

 

 

1,242

 

 

 

-

 

 

 

-

 

 

 

(6,888

)

 

 

3,866

 

 

 

1,036

 

 

 

-

 

 

 

-

 

2nd Lien, Secured Bond

 

 

18,610

 

 

 

5,090

 

 

 

-

 

 

 

-

 

 

 

(23,700

)

 

 

-

 

 

 

4,045

 

 

 

-

 

 

 

-

 

Common Equity (9% of class)

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

29,270

 

 

 

10,892

 

 

 

-

 

 

 

-

 

 

 

(32,025

)

 

 

8,137

 

 

 

5,696

 

 

 

282

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OPS Acquisitions Limited and Ocean Protection Services Limited

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1st Lien, Secured Loan

 

 

19

 

 

 

-

 

 

 

78

 

 

 

(4,162

)

 

 

4,221

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

19

 

 

 

-

 

 

 

78

 

 

 

(4,162

)

 

 

4,221

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PFS Holdings Corp.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1st Lien, Secured Loan

 

 

1,076

 

 

 

-

 

 

 

11

 

 

 

-

 

 

 

(143

)

 

 

922

 

 

 

88

 

 

 

-

 

 

 

-

 

Common Equity (5% of class)

 

 

7,618

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(5,816

)

 

 

1,802

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

8,694

 

 

 

-

 

 

 

11

 

 

 

-

 

 

 

(5,959

)

 

 

2,724

 

 

 

88

 

 

 

-

 

 

 

-

 

Totals

 

$

37,983

 

 

$

10,892

 

 

$

89

 

 

$

(4,162

)

 

$

(33,763

)

 

$

10,861

 

 

$

5,784

 

 

$

282

 

 

$

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Controlled Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Lenders' Funding, LLC

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Subordinated Note

 

 

-

 

 

 

10,000

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

10,000

 

 

 

311

 

 

 

25

 

 

 

-

 

Revolver

 

 

-

 

 

 

5,405

 

 

 

3,472

 

 

 

-

 

 

 

-

 

 

 

1,933

 

 

 

47

 

 

 

-

 

 

 

-

 

Equity (63% of class)

 

 

-

 

 

 

7,250

 

 

 

-

 

 

 

-

 

 

 

59

 

 

 

7,309

 

 

 

-

 

 

 

-

 

 

 

660

 

 

 

 

-

 

 

 

22,655

 

 

 

3,472

 

 

 

-

 

 

 

59

 

 

 

19,242

 

 

 

358

 

 

 

25

 

 

 

660

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PE Facility Solutions, LLC

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1st Lien, Secured Term Loan B

 

 

162

 

 

 

-

 

 

 

164

 

 

 

-

 

 

 

2

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Equity (87% of class)

 

 

-

 

 

 

-

 

 

 

293

 

 

 

293

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

162

 

 

 

-

 

 

 

457

 

 

 

293

 

 

 

2

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Prestige Capital Finance, LLC

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Note

 

 

-

 

 

 

6,000

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

6,000

 

 

 

288

 

 

 

-

 

 

 

-

 

Equity (80% of class)

 

 

10,081

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

1,762

 

 

 

11,843

 

 

 

-

 

 

 

-

 

 

 

1,974

 

 

 

 

10,081

 

 

 

6,000

 

 

 

-

 

 

 

-

 

 

 

1,762

 

 

 

17,843

 

 

 

288

 

 

 

-

 

 

 

1,974

 

Totals

 

$

10,243

 

 

$

28,655

 

 

$

3,929

 

 

$

293

 

 

$

1,823

 

 

$

37,085

 

 

$

646

 

 

$

25

 

 

$

2,634

 
(1)
Non-unitized equity investments are disclosed with percentage ownership in lieu of quantity.
(2)
Gross additions include increases resulting from new or additional portfolio investments, capitalized PIK interest, accretion of discounts and the exchange of one or more existing securities for one or more new securities.
(3)
Gross reductions include decreases resulting from principal collections related to investment repayments or sales and the exchange of one or more existing securities for one or more new securities.
(4)
Interest income includes accrued PIK interest.