Schedule of Investments in and Advances to Affiliates (Tables)

12 Months Ended

Mar. 31, 2024

Investments in and Advances to Affiliates [Abstract]

Schedule of Investments in and Advances to Affiliates

SCHEDULE 12-14

Schedule of Investments in and Advances to Affiliates

(In thousands)

Portfolio Company	Type of Investment (1)	March 31, 2024 Principal Amount - Debt Investments		Amount of Interest or Dividends Credited in Income (2)		Fair Value at March 31, 2023		Gross Additions (3)		Gross Reductions (4)		Amount of Realized Gain/(Loss) (5)		Amount of Unrealized Gain/(Loss)		Fair Value at March 31, 2024
Control Investments
I-45 SLF LLC	80% LLC equity interest	$	—	$	7,983	$	51,256	$	37,600	$	(92,536)	$	(15,047)	$	18,727	$	—
Total Control Investments		$	—	$	7,983	$	51,256	$	37,600	$	(92,536)	$	(15,047)	$	18,727	$	—
Affiliate Investments
Air Conditioning Specialist, Inc.	Revolving Loan	$	825	$	100	$	800	$	607	$	(575)	$	15	$	(22)	$	825
	First Lien	24,407		2,935		27,438		10,999		(13,997)		175		(208)		24,407
	Delayed Draw Term Loan	—		1		—		—		—		—		—		—
	1,006,045.85 Preferred Units	—		—		1,202		534		—		—		1,583		3,319
ArborWorks, LLC	Revolving Loan	1,569		69		—		1,569		—		—		—		1,569
	First Lien	3,123		150		—		3,123		—		—		—		3,123
	100 Class A Units	—		—		—		—		—		—		5		5
	13,898.32 Class A-1 Preferred Units	—		—		—		3,170		—		—		—		3,170
	13,898.32 Class B-1 Preferred Units	—		—		—		—		—		—		—		—
	1,666.67 Class A-1 Common Units	—		—		—		—		—		—		—		—
Catbird NYC, LLC	Revolving Loan	—		78		—		1,516		(1,500)		—		(16)		—
	First Lien	15,100		1,979		15,500		62		(400)		—		(62)		15,100
	1,000,000 Class A Units	—		34		1,658		—		—		—		123		1,781
	500,000 Class B Units	—		16		714		—		—		—		43		757
Central Medical Supply LLC	Revolving Loan	700		65		296		406		—		—		(2)		700
	First Lien	7,540		1,173		7,402		73		—		—		65		7,540
	Delayed Draw Term Loan	101		28		99		7		—		—		(5)		101
	2,620,670 Preferred Units	—		—		357		248		—		—		755		1,360

Portfolio Company	Type of Investment (1)	March 31, 2024 Principal Amount - Debt Investments	Amount of Interest or Dividends Credited in Income (2)	Fair Value at March 31, 2023	Gross Additions (3)	Gross Reductions (4)	Amount of Realized Gain/(Loss) (5)	Amount of Unrealized Gain/(Loss)	Fair Value at March 31, 2024
Chandler Signs, LLC	1,500,000 units of Class A-1 common stock	—	60	3,215	—	(3,402)	1,902	(1,715)	—
Command Group Acquisition, LLC	First Lien	6,000	104	—	5,882	—	—	—	5,882
	1,250,000 Preferred Units	—	—	—	1,250	—	—	—	1,250
Delphi Intermediate Healthco LLC	First Lien	—	—	—	—	—	(1,649)	1,649	—
	First Lien	—	—	—	—	—	(1,829)	1,829	—
	Protective Advance	—	—	—	—	—	(1,448)	1,448	—
	1,681.04 Common Units	—	—	—	—	—	(3,615)	3,615	—
Dynamic Communities, LLC	First Lien - Term Loan A	4,250	407	3,823	406	—	—	20	4,249
	First Lien - Term Loan B	4,359	492	3,843	493	—	—	23	4,359
	250,000 Class A Preferred units	—	—	625	—	—	—	(308)	317
	5,435,211.03 Class B Preferred units	—	—	2,218	—	—	—	(2,218)	—
	255,984.22 Class C Preferred units	—	—	—	—	—	—	—	—
	2,500,000 Common units	—	—	—	—	—	—	—	—
GPT Industries, LLC	Revolving Loan	—	27	—	12	—	—	(12)	—
	First lien	6,004	870	6,030	19	(146)	—	101	6,004
	1,000,000 Class A Preferred Units	—	—	1,000	—	—	—	1,064	2,064
GrammaTech, Inc.	Revolving Loan	—	9	—	9	—	—	(9)	—
	First Lien	1,000	803	10,031	20	(9,031)	42	(62)	1,000
	1,000 Class A units	—	—	—	—	—	—	—	—
	360.06 Class A-1 units	—	—	372	—	—	—	(372)	—

Portfolio Company	Type of Investment (1)	March 31, 2024 Principal Amount - Debt Investments	Amount of Interest or Dividends Credited in Income (2)	Fair Value at March 31, 2023	Gross Additions (3)	Gross Reductions (4)	Amount of Realized Gain/(Loss) (5)	Amount of Unrealized Gain/(Loss)	Fair Value at March 31, 2024
ITA Holdings Group, LLC	Revolving Loan	2,468	391	7,014	2,443	(7,005)	—	16	2,468
	First Lien - Term Loan	—	282	10,114	6	(10,145)	—	25	—
	First Lien - Term Loan B	—	189	5,068	17	(5,073)	—	(12)	—
	First Lien - PIK Note A	—	88	3,255	168	(3,427)	—	4	—
	First Lien - PIK Note B	—	3	128	6	(134)	—	—	—
	First Lien - Term Loan	13,038	1,889	—	11,186	—	—	1,852	13,038
	First Lien - Term Loan B	13,038	2,082	—	11,174	—	—	1,864	13,038
	Delayed Draw Term Loan - A	1,058	89	—	1,034	—	—	24	1,058
	Delayed Draw Term Loan - B	1,058	100	—	1,034	—	—	24	1,058
	Warrants	—	—	4,046	—	—	—	(41)	4,005
	Warrants	—	—	—	3,791	—	—	78	3,869
	9.25% Class A membership interest	—	120	4,348	—	—	—	(1,974)	2,374
Lighting Retrofit International, LLC (DBA Envocore)	Revolving Loan	729	13	—	729	—	—	(15)	714
	First Lien	5,091	391	5,143	—	(52)	—	(107)	4,984
	Second Lien	5,208	—	3,594	—	—	—	1,323	4,917
	208,333.3333 Series A Preferred units	—	—	—	—	—	—	—	—
	203,124.9999 Common units	—	—	—	—	—	—	—	—
Outerbox, LLC	Revolving Loan	—	11	—	6	—	—	(6)	—
	First Lien	14,625	1,861	14,552	39	—	—	(69)	14,522
	6,308.2584 Class A common units	—	—	773	—	—	—	(192)	581
Pool Service Partners, Inc.	Revolving Loan	1,000	7	—	981	—	—	(1)	980
	First Lien	5,000	173	—	4,904	—	—	(4)	4,900
	Delayed Draw Term Loan	600	14	—	518	—	—	70	588
	10,000 Common units	—	—	—	1,000	—	—	384	1,384

Portfolio Company	Type of Investment (1)	March 31, 2024 Principal Amount - Debt Investments		Amount of Interest or Dividends Credited in Income (2)		Fair Value at March 31, 2023		Gross Additions (3)		Gross Reductions (4)		Amount of Realized Gain/(Loss) (5)		Amount of Unrealized Gain/(Loss)		Fair Value at March 31, 2024
Roseland Management, LLC	Revolving Loan	—		53		555		9		(575)		—		11		—
	First Lien	14,906		1,887		14,524		26		(145)		—		501		14,906
	3,364 Class A-2 Units	—		—		694		—		—		—		68		762
	1,100 Class A-1 units	—		—		161		—		—		—		22		183
	16,084 Class A units	—		—		422		—		—		—		325		747
Sonobi, Inc.	500,000 Class A Common units	—		—		1,749		—		—		—		209		1,958
STATinMED, LLC	First Lien	7,560		276		7,288		272		—		—		(2,646)		4,914
	Delayed Draw Term Loan	—		1		122		2		(124)		1		(1)		—
	4,718.62 Class A Preferred Units	—		—		3,767		—		—		—		(3,767)		—
	39,097.96 Class B Preferred Units	—		—		—		—		—		—		—		—
Student Resource Center LLC	First Lien	9,644		590		8,720		776		—		—		(6,120)		3,376
	10,502,487.46 Preferred units	—		—		5,845		—		—		—		(5,845)		—
	2,000,000 Preferred units	—		—		—		—		—		—		—		—
Total Affiliate Investments		$	170,001	$	19,910	$	188,505	$	70,526	$	(55,731)	$	(6,406)	$	(6,688)	$	190,206
Total Control & Affiliate Investments		$	170,001	$	27,893	$	239,761	$	108,126	$	(148,267)	$	(21,453)	$	12,039	$	190,206

(1)The principal amount and ownership detail as shown in the Consolidated Schedules of Investments.

(2)Represents the total amount of interest or dividends credited to income for the portion of the year an investment was included in the Control or Affiliate categories, respectively.

(3)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, follow-on investments, accrued PIK interest, and accretion of OID. Gross additions also include movement of an existing portfolio company into this category and out of a different category.

(4)Gross reductions include decreases in the cost basis of investments resulting from principal repayments or sales and the exchange of one or more existing securities for one or more new securities. Gross reductions also include movement of an existing portfolio company out of this category and into a different category.

(5)The schedule does not reflect realized gains or losses on escrow receivables for investments which were previously exited and were not held during the period presented. Gains and losses on escrow receivables are classified in the Consolidated Statements of Operations according to the control classification at the time the investment was exited.