Transactions with Affiliated Companies

12 Months Ended

Dec. 31, 2025

Transactions with Affiliated Companies [Abstract]

Transactions with Affiliated Companies

Note 5. Transactions with Affiliated Companies

The Company and the Advisor have received an exemptive order from the SEC that permits the Company to co-invest with certain accounts managed by the Advisor and/or certain affiliates of the Company, subject to the terms and conditions specified in the exemptive order.

An affiliated company is a company in which the Company has an ownership interest of 5% or more of its voting securities. A controlled affiliate company is a company in which the Company and its affiliated funds have an ownership interest of more than 25% of its voting securities. Please see the Company’s Consolidated Schedule of Investments for the type of investment, principal amount, interest rate including the spread, and the maturity date for investments in affiliated companies. For the years ended December 31, 2025 and December 31, 2024, Star Mountain Fund Management, LLC’s managed funds had an ownership interest of 25% or more or the Company had an ownership of 5% or more in five and five companies’ voting securities, respectively.

Transactions related to the Company’s investments with affiliated and controlled affiliates for the years ended December 31, 2025 and December 31, 2024, were as follows:

The year ended December 31, 2025	Equity Ownership Held by the Company			Equity Ownership Held by Star Mountain Affiliate Funds
Issuer:
Arrow Home Health LLC		2.6	%		72.2	%
Caregility Corporation		7.9	%		37.4	%
Delva Master Holdings		2.7	%		74.5	%
Lasalle Staffing, LLC		5.8	%		21.9	%
Microf, LLC		0.0	%		77.3	%
MPUSA, LLC (dba Mission)		4.3	%		34.4	%
Uncle John’s Pride, LLC		5.6	%		18.8	%
USBid Inc.		13.5	%		57.7	%
Watt Acquisition, LLC		30.2	%		89.6	%

The year ended December 31, 2024	Equity Ownership Held by the Company			Equity Ownership Held by Star Mountain Affiliate Funds
Issuer:
Arrow Home Health LLC		2.5	%		72.2	%
Caregility Corporation		7.9	%		37.4	%
Lasalle Staffing, LLC		5.8	%		21.9	%
Microf, LLC		0.0	%		83.7	%
MPUSA, LLC (dba Mission)		4.3	%		34.4	%
Uncle John’s Pride, LLC		5.6	%		18.8	%
USBid Inc.		13.5	%		57.7	%
Watt Acquisition, LLC		5.6	%		17.4	%