Derivative Instruments

3 Months Ended

Mar. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

The Company enters into foreign currency forward contracts from time to time to help mitigate the impact that an adverse change in foreign exchange rates would have on future principal and interest cash flows from the Company’s investments denominated in foreign currencies. As of both March 31, 2025 and December 31, 2024, the counterparty to these foreign currency forward contracts was Bannockburn Global Forex, LLC. Net unrealized gain or loss on foreign currency forward contracts are included in net change in unrealized gain (loss) on foreign currency forward contracts and net realized gain or loss on forward currency forward contracts are included in net realized gain (loss) on foreign currency forward contracts on the accompanying consolidated statements of operations.

Certain information related to the Company’s foreign currency forward contracts is presented below as of March 31, 2025 and December 31, 2024.


	March 31, 2025
Description	Notional Amount to be Sold		Settlement Date	Gross Amount of Unrealized Gain		Gross Amount of Unrealized Loss		Balance Sheet location of Net Amounts
Foreign currency forward contract	AUD	560	4/16/2025	$	15	$	—	Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	AUD	542	5/16/2025	14		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	AUD	560	6/18/2025	14		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	AUD	557	7/16/2025	25		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	AUD	559	8/18/2025	24		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	AUD	557	9/16/2025	24		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	AUD	539	10/17/2025	22		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	AUD	557	11/18/2025	23		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	AUD	539	12/16/2025	22		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	AUD	556	1/20/2026	22		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	AUD	554	2/17/2026	22		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	AUD	500	3/17/2026	19		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	AUD	47,858	4/20/2026	688		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	CAD	128	4/3/2025	—		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	CAD	128	7/3/2025	—		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	CAD	127	10/6/2025	—		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	CAD	125	1/5/2026	—		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	CAD	121	4/6/2026	—		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	CAD	139	7/6/2026	—		(1)		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	CAD	140	10/5/2026			(1)		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	CAD	139	1/5/2027	—		(1)		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	CAD	136	4/5/2027	—		(1)		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	CAD	136	7/6/2027	—		(1)		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	CAD	12,777	8/16/2027	—		(50)		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	EUR	332	4/4/2025	—		(11)		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	EUR	352	7/7/2025	—		(11)		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	EUR	362	10/6/2025	—		(11)		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	EUR	360	1/6/2026	—		(11)		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	EUR	351	4/6/2026	—		(10)		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	EUR	354	7/6/2026	—		(10)		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	EUR	356	10/6/2026	—		(10)		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	EUR	354	1/6/2027	—		(9)		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	EUR	343	4/6/2027	—		(9)		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	EUR	345	7/6/2027	—		(8)		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	EUR	347	10/6/2027	—		(8)		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	EUR	359	1/6/2028	—		(8)		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	GBP	270	4/4/2025	1		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	GBP	258	7/7/2025	1		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	GBP	257	10/6/2025	—		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	GBP	255	1/6/2026	—		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	GBP	246	4/7/2026	—		(1)		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	GBP	254	7/6/2026	—		(1)		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	GBP	259	10/6/2026	—		(2)		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	GBP	266	1/6/2027	—		(2)		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	GBP	258	4/6/2027	—		(2)		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	GBP	259	7/6/2027	—		(3)		Net unrealized gain on foreign currency forward contracts
				$	936	$	(182)


	December 31, 2024
Description	Notional Amount to be Sold		Settlement Date	Gross Amount of Unrealized Gain		Gross Amount of Unrealized Loss		Balance Sheet location of Net Amounts
Foreign currency forward contract	AUD	568	1/17/2025	$	20	$	—	Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	AUD	560	2/18/2025	20		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	AUD	506	3/18/2025	17		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	AUD	560	4/16/2025	19		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	AUD	542	5/16/2025	17		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	AUD	560	6/18/2025	18		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	AUD	557	7/16/2025	28		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	AUD	559	8/18/2025	27		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	AUD	557	9/16/2025	27		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	AUD	539	10/17/2025	26		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	AUD	557	11/18/2025	26		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	AUD	539	12/16/2025	25		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	AUD	556	1/20/2026	25		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	AUD	554	2/17/2026	25		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	AUD	500	3/17/2026	22		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	AUD	47,858	4/20/2026	970		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	GBP	305	1/6/2025	14		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	GBP	270	4/4/2025	12		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	GBP	258	7/7/2025	11		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	GBP	257	10/6/2025	10		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	GBP	255	1/6/2026	10		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	GBP	246	4/7/2026	9		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	GBP	254	7/6/2026	9		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	GBP	259	10/6/2026	9		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	GBP	266	1/6/2027	9		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	GBP	258	4/6/2027	8		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	GBP	259	7/6/2027	8		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	EUR	141	1/7/2025	2		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	EUR	332	4/4/2025	4		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	EUR	352	7/7/2025	5		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	EUR	362	10/6/2025	5		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	EUR	360	1/6/2026	6		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	EUR	351	4/6/2026	6		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	EUR	354	7/6/2026	6		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	EUR	356	10/6/2026	7		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	EUR	354	1/6/2027	7		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	EUR	343	4/6/2027	7		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	EUR	345	7/6/2027	8		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	EUR	347	10/6/2027	8		—		Net unrealized gain on foreign currency forward contracts
Foreign currency forward contract	EUR	359	1/6/2028	9		—		Net unrealized gain on foreign currency forward contracts
				$	1,501	$	—

For the three months ended March 31, 2025 and 2024, the Company recognized net change in unrealized gain (loss) on foreign currency forward contracts of $(747) and $2,353, respectively. For the three months ended March 31, 2025 and 2024, the Company recognized net realized gain (loss) on foreign currency forward contracts of $54 and $2, respectively.